MKT 210 Ch. 7

The winning value proposition by discount stores such as Walmart and Best Buy can be categorized as _____________.

the same for less

Which of the following statements about segmentation is true?

Different segments might require different marketing strategies or mixes.

A company can differentiate itself from competitors using symbols such as McDonald's golden arches, Twitter's bird, and the Nike swoosh. Which type of differentiation is this?

Image differentiation

There is a growing segment of people who want food that tastes good and is also good for them. This healthy-living segment represents which segmentation base?

Lifestyle

Which of the following statements regarding positioning is correct?

Positions must adapt over time to meet changing consumer needs.

What are perceptual positioning maps used for?

To show consumer perceptions of different brands on important buying dimensions

Fitbit makes health and fitness tracking devices. Some buyers want very basic fitness tracking such as steps taken and calories consumed. Others are focused on high performance and want heart rate and sleep monitoring, text notification, and wireless sync to their smart phone. In serving these two very different groups, Fitbit is using ____________ segmentation.

benefits sought

Amazon and GEICO set themselves apart with their smooth-functioning direct delivery strategy referred to as ___________ differentiation.

channel

One important consideration in using a differentiated targeting strategy is that _____________.

it can increase costs

Using a(n) ___________ marketing strategy, a firm might decide to ignore market segment differences.

undifferentiated

What is positioning?

Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

Toothpastes claim they "whiten teeth," "fight bad breath," and "reduce plaque." Which base of segmentation is being used in this example?

Benefits sought

A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your colleague?

Carefully consider the degree of competition and ease of entry into the segment.

Which targeting strategy focuses on common consumer needs, as opposed to different needs?

Mass marketing

BMW says their cars are "The Ultimate Driving Machine." Ford trucks are "Built Ford Tough." Which type of differentiation do these examples represent?

Product differentiation

_____________ segmentation divides buyers into different segments based on lifestyle or personality characteristics.

Psychographic

Instead of going after a small share of a large market, a firm goes after a large share of a smaller niche segment. This type of marketing strategy is known as ___________.

concentrated marketing

If men and women respond similarly to the same marketing mix, they do not constitute different segments. Gender would not be effective in this example because the segment is not ______________.

differentiable

The process of evaluating each market segment's attractiveness and selecting one or more market segments to enter is called _____________.

market targeting

The step in designing a customer value-driven marketing strategy in which a company divides a market into distinct groups of buyers is known as market ___________.

segmentation