MTKG chap 7 tests

________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

demographic

Andrew Levitt runs a retail store in Norristown. Andrew's store stocks cold weather products as Norristown mostly has sub-zero temperatures. Which of the following is evident here?

local marketing

Stores such as Walmart, Best Buy, PetSmart, David's Bridal, and DSW Shoes use ________ positioning.

same for less

drawback of local marketing?

Local marketing increases manufacturing costs by reducing the economies of scale.

________ involves actually distinguishing the firm's market offering to create superior customer value.

Differentiation

In the context of behavioral segmentation, who among the following is a potential user?

Anita, who recently had a baby

Sanguine Services is a small company that uses a marketing strategy in which its limited resources are employed to target a large share of two small market segments. Sanguine most likely uses which of the following marketing strategies?

concentrated marketing

Which of the following is LEAST relevant when a firm evaluates different market segments?

core competencies of competitors (Is= segment size and growth, company resources, segment structural attractiveness, company objectives)

Orion Inc. markets luxury watches and chronographs. It targets the wealthy global elite segment, regardless of their geographic location. Orion most likely uses ________ segmentation

cross-market

Consumers who show their allegiance to brands, stores, or companies help marketers to segment consumers by their ________.

degree of loyalty

The winning value proposition would be to offer ________.

more for less

________ segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product.

Behavioral

________ requires finding the major advantages people look for in a product class, the kinds of people who look for each positive aspect of a product, and the major brands that deliver it.

Benefit segmentation

true about behavioral segmentation on the basis of the loyalty variable?

By looking at customers who are shifting away from its brand, a company can learn about its marketing weaknesses and take actions to correct them.

true about the concentrated marketing strategy?

Companies that rely on a few segments for all of their business will suffer if a segment turns sour.

________ segments are conceptually distinguishable and respond differently to different marketing mix elements and programs.

Differentiable

________ is more suited for products that vary in design.

Differentiated marketing

________ calls for dividing the market into regions, states, counties, cities, or even neighborhoods.

Geographic segmentation

________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.

Market segmentation

________ consists of evaluating each market segment's attractiveness and selecting one or more market segments to enter.

Market targeting

________ is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations.

Micromarketing

________ positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs.

More for more

true with regard to the same for less value proposition?

Offering the same for less can be a powerful value proposition because everyone likes a good deal.

_______ shows consumer perceptions of a company's brands versus competing products on important buying dimensions.

Perceptual positioning maps

________ refers to how a company will create differentiated value for targeted segments and what positions it wants to occupy in those segments.

Value proposition

Which of the following states the product's membership in a category and then shows its point of difference from other members of the category?

a positioning statement

Market segments that can be effectively reached and served are ________.

accessible

When an effective program can be designed for attracting and serving a chosen segment, the segment is best described as ________.

actionable

Bailey's Burgers promotes the Bailey's Jumbo Burger as a fun snack for teens and young adults. In this instance, Bailey's Burgers is practicing ________ segmentation.

age and life-cycle

With a(n) ________ marketing strategy, a firm goes after a large share of one or a few smaller niches.

concentrated

Harvey's Bookstore is a popular online bookstore that has differentiated itself through smooth-functioning delivery networks. This is an example of ________.

channel differentiation

To the extent that a company can differentiate and position itself as providing superior customer value, it gains ________.

competitive advantage

GamaPix makes point-and-shoot cameras and handycams for amateur photographers and hobbyists. It also has a separate line of cameras dedicated to professional photographers. Additionally, it designs separate offers for each segment. Which of the following marketing strategies does GamaPix most likely use in this instance?

differienated

Double Drill Inc. segments its foreign markets by per capita income. This firm segments the international markets based on ________.

economic factors

________ segmentation has long been used in clothing, cosmetics, toiletries, and magazines.

gender

Even when competing offers look the same, buyers may perceive a difference based on ________ differentiation.

image

Symbols such as the McDonald's golden arches, the colorful Google logo, the Nike swoosh, or Apple's "bite mark" logo provide strong company or brand recognition and are indicative of ________ differentiation.

image

Gilron Holidays runs a premium membership club which caters to customers whose annual salary exceeds $100,000. Members of this club are offered seasonal discounts on select luxury hotels in select cities worldwide. Gilron Holidays most likely follows a(n) ________ segmentation approach.

income

A public relations firm tailors its advertising and promotional services according to the needs and preferences of specific customers. This exemplifies ________.

individual marketing

Using ________, marketers form segments of consumers who have similar needs and buying behaviors even though they are located in different countries.

intermarket segmentation

A segment is less attractive if ________.

it already contains many strong and aggressive competitors

Kinger Auto specializes in selling low-quality used vehicles that are priced a good deal lower than other used cars. Which of the following value propositions is evident here?

less for much less

Perry's Mart, a grocery store in New Orleans, Louisiana, offers less merchandise selection and fairly low levels of service. Despite the lackluster service and limited selection of merchandise, customers still flock to Perry's because it charges rock-bottom prices. Perry's Mart most likely uses the ________ positioning.

less for much less

When marketers at Fair & Leigh Inc. selected the Millennials, a demographic group that includes college students, as an untapped group of potential customers for their new line of products, they were engaging in ________.

market targeting

When order requests come in, the designers of Titus Furniture often go to a client's location to note their requirements, budget, and expected date of delivery. In this way, Titus Furnitures is successful in tailor-making products for its customers. This is an example of ________.

mass customization

________ is the process by which firms interact one-to-one with masses of customers to design products and services tailor-made to individual needs.

mass customization

When the size, purchasing power, and profiles of a market segment can be calculated, the market is ________.

measurable

Ferrari sports cars claim superior quality, performance, and style. Ferrari provides "perfection" at a premium price to keep its brand image intact. Which type of value proposition does Ferrari most likely position its products with?

more for more

Which of the following marketing strategies is most suitable for smaller firms with limited resources?

niche marketing

NOT a common variable used by both consumer and business marketers while segmenting markets?

operating characteristics (Is= loyalty status, usage rate, geographic location, benefits sought)

The Jay Group hires better employees than its competition by conducting effective searches and multi-tiered interviews. The company also provides high quality training to its employees, an aspect often neglected by competitors. The Jay Group is most likely to gain a strong competitive advantage through which type of differentiation?

people differentiation

Marketers often segment international markets according to the type and stability of government. In such instances, they segment markets based on ________.

political factors

"To busy multitaskers who need help remembering things, Evernote is a digital content management application that makes it easy to capture and remember moments and ideas from your everyday life using your computer, phone, tablet, and the Web." This is an example of a(n) ________.

positioning statement

Through ________ differentiation, brands can be differentiated on features, performance, or style and design.

product

Chronos Inc. designs and markets different brands of cycling watches. Each brand has a single unique feature: the Chronos Cosmos has a heart rate monitor, the Chronos Acumen is designed for older cyclists who prefer a large display, and the Chronos Aegis has a GPS function. Which of the following is evident here?

product differentiation

A ________ refers to the way a product is defined by consumers on important attributes—the place the product occupies in consumers' minds relative to competing products.

product position

Different soft drinks target different personalities. This is an example of ________ segmentation.

psychographic

An American cola-manufacturing company that primarily targets rebellious and adventurous people most likely uses ________ segmentation.

psychographic segmentation

Marketers who use ________ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals.

psychographic segmentation

While Jenkins Stationeries was selling branded stationery at premium prices, Pembroke Stationeries, a store across the street, was selling the same branded stationery at discount prices. Which of the following value propositions best describes Pembroke's product positioning?

same for less

A company selling child care products ran a television ad depicting women as being primarily responsible for child care. Many women viewers considered this regressive alleging that the ad failed to recognize the much more diversified role of women in today's world. This is an example of ________.

stereotyping

A market segment that is large or profitable enough to serve is ________.

substantial

A(n) ________ consists of a set of buyers who share common needs or characteristics that the company decides to serve.

target market

Which of the following is a disadvantage of using a differentiated marketing strategy?

the costs of doing business increase

________ refers to a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer

undifferentiated marketing

Rex Steelworks makes steel sheets which the firm markets and sells to companies all over the world. Which of the following marketing strategies is most suitable for Rex Steelworks?

undifferienated

Which of the following refers to a behavioral segmentation variable that involves segmenting markets into nonusers, ex-users, potential users, first-time users, and regular users of a product?

user status

_______ positioning involves meeting consumers' lower performance or quality requirements at a much lower price.

Less for much less

Which of the following is true about multivariable segmentation systems?

Multiple segmentation bases help identify smaller, better-defined target groups.

________ segmentation refers to dividing the market into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item.

Occasion

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

Positioning

________ segmentation divides buyers into different segments based on social class, lifestyle, or personality characteristics.

Psychographic

A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each is known as ________.

differentiated marketing

Papillon, a popular retailer of chic women's clothing, segments its market according to consumer lifestyles. Papillon most likely uses ________ for segmenting its market.

psychographic segmentation