Ch 6 BA 370
When effective programs can be designed for attracting and serving market segments, these segments are ________. Question content area bottom Part 1 A. accessible B. substantial C. actionable D. measurable E. differentiable
actionable
Firms with limited resources often target a market niche that is either ignored or unimportant to larger firms. This represents a(n) _______ strategy. Question content area bottom Part 1 A. micromarketing B. undifferentiated marketing C. mass marketing D. concentrated marketing E. differentiated marketing
concentrated marketing
____________________ is part of a company's decision on how it will create market offerings to deliver superior customer value. Question content area bottom Part 1 A. Market targeting B. Market segmentation C. Differentiation D. Undifferentiated marketing E. Mass marketing
differentiation
Major variables used to segment consumer markets include which of the following? Question content area bottom Part 1 A. Geographic, demographic, psychographic, and psychological B. Geographic, demographic, psychographic, and behavioral C. Income, age, geographic, and lifestyle D. Ethnicity, geographic, gender, and income E. Income, gender, age, and ethnicity
. Geographic, demographic, psychographic, and behavioral
The differentiation and positioning task consists of three steps: identifying ________ that create competitive advantage, choosing ________ on which to build a position, and selecting an overall positioning strategy. Question content area bottom Part 1 A. a set of possible differentiations; product features and benefits B. products or services; features and benefits C. positioning statements; advantages D. a set of products; advantages E. a set of possible differentiations; advantages
A. a set of possible differentiations; advantages
What are the four major steps in designing a customer value-driven marketing strategy, in the correct sequence? Question content area bottom Part 1 A. Market segmentation, market targeting, positioning, and differentiation B. Market segmentation, differentiation, market targeting, and positioning C. Market segmentation, market targeting, differentiation, and positioning D. Market targeting, market segmentation, differentiation, and positioning E. Positioning, market segmentation, market targeting, and differentiation
C. Market segmentation, market targeting, differentiation, and positioning
Like consumer markets, business markets are segmented. Which of the following describes the variables that marketers use to segment business markets? Question content area bottom Part 1 A. Operating characteristics, purchasing approaches, situational factors, and pricing B. Business demographics, operating characteristics, purchasing approaches, situational factors, and personal characteristics C. Operating characteristics, purchasing approaches, situational factors, and geographic variables D. Operating characteristics, purchasing approaches, situational factors, and demographics E. Operating characteristics, purchasing approaches, situational factors, usage rate, and demographics
B. Business demographics, operating characteristics, purchasing approaches, situational factors, and personal characteristics
What are perceptual positioning maps used for? Question content area bottom Part 1 A. To implement a particular positioning strategy B. To show consumer perceptions of different brands on important buying dimensions C. To find where to best position a product on a store shelf D. To show consumer perceptions of an individual brand on important buying dimensions E. To compare a company's profitability with the profitability of competitors
B. To show consumer perceptions of different brands on important buying dimensions
Although business marketers use many of the same variables to segment their markets, they also use some additional variables, such as ________, ____________. _________, and personal characteristics. Question content area bottom Part 1 A. customer operating characteristics, vendor selection processes, situational factors B. customer operating characteristics, purchasing approaches, situational factors C. customer operating characteristics, purchasing approaches, environmental factors D. customer operating characteristics, purchasing approaches, management factors E. customer operating characteristics, sales and proposal processes, situational factors
B. customer operating characteristics, purchasing approaches, situational factors
Segmentation provides a powerful tool for marketers of all kinds. It can help companies identify and better understand key customer segments, ________________ to their specific needs. Question content area bottom Part 1 A. position, and tailor market offerings and messages B. reach them more efficiently, and tailor market offerings and messages C. reach them more efficiently, and differentiate products and services D. reach them more efficiently, and position products and services E. target, and tailor market offerings and messages
B. reach them more efficiently, and tailor market offerings and messages
Once segments have been identified, market ________ evaluates each segment's attractiveness and selects one or more to serve. Question content area bottom Part 1 A. positioning B. targeting C. segmentation D. differentiation E. micromarketing
B. targeting
There are four major variables that might be used in segmenting consumer markets. Those major variables are ________ variables. Question content area bottom Part 1 A. geographic, demographic, psychographic, and political B. geographic, demographic, political, and economic C. geographic, demographic, psychographic, and behavioral D. geographic, demographic, cultural, and behavioral E. geographic, demographic, economic, and behavioral
C. geographic, demographic, psychographic, and behavioral
To target the best market segments, the company first evaluates various factors related to market attractiveness. Of the following, which is NOT one of those factors? Question content area bottom Part 1 A. Evaluation of each segment's structural attractiveness B. Evaluation of each segment's growth characteristics C. Compatibility with company mission and vision D. Evaluation of each segment's size characteristics E. Compatibility with company objectives and resources.
Compatibility with company mission and vision
In which targeting strategy does a firm go after a large share of one or a few smaller segments? Question content area bottom Part 1 A. Mass marketing B. Undifferentiated marketing C. Micromarketing D. Differentiated marketing E. Concentrated marketing
Concentrated marketing
Market segmentation is the act of dividing a market into distinct groups of buyers who have ________ and who might require separate marketing strategies or mixes. Question content area bottom Part 1 A. needs, wants, and desires B. different needs, characteristics, or buying power C. primarily different behaviors D. different needs, characteristics, or behaviors E. different needs, characteristics, traits, and behaviors
D. different needs, characteristics, or behaviors
In addition to segmentation and targeting, there are two other major steps in designing a customer value-driven market strategy: ________ seeks to create superior customer value in the mind of the consumer, and ________ seeks to firmly place the market offering in the minds of target customers. Question content area bottom Part 1 A. Positioning; segmentation B. Positioning; differentiation C. Differentiation; segmentation D. Differentiation; positioning E. Positioning; target marketing
D. Differentiation; positioning
What is market segmentation? Question content area bottom Part 1 A. Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers B. Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes C. Differentiating the firm's market offering to create superior customer value D. Marketing to a mass market of homogenous buyers E. Evaluating each market segment's attractiveness and selecting one or more market segments to enter
Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes
Companies need to consider many factors when choosing a market-targeting strategy. However, which targeting strategy is best depends on company resources, product variability, product life-cycle stage, as well as ________________________. Question content area bottom Part 1 A. sustainability strategies and market variability B. distribution characteristics and competitive marketing strategies C. product development strategies and competitive marketing strategies D. market variability and sales strategies E. market variability and competitive marketing strategies
E. market variability and competitive marketing strategies
Question content area top Part 1 To determine which market segments to target and serve, the company first evaluates each segment's ________. Question content area bottom Part 1 A. size and growth characteristics and structural attractiveness B. size and growth characteristics and compatibility with company objectives and resources C. compatibility with company objectives and resources D. size and growth characteristics E. size and growth characteristics, structural attractiveness, and compatibility with company objectives and resources
E. size and growth characteristics, structural attractiveness, and compatibility with company objectives and resources
Once market segments have been selected, the company then must decide on _____________________________. Question content area bottom Part 1 A. differentiation and positioning strategy B. target market strategies C. mission and vision D. positioning map E. unique value proposition
Question content area bottom Part 1 A. differentiation and positioning strategy
One important consideration in using a differentiated targeting strategy is that _______. Question content area bottom Part 1 A. it is easier for the company because it only needs to manage one market offering B. the demand for customized products is decreasing C. it can increase costs D. focusing on what is common in consumers can potentially appeal to the largest number of buyers E. serving one or a few smaller segments can limit sales
it can increase cost
Once a company has decided which segments to enter, it must decide on its ________ strategy. Question content area bottom Part 1 A. financial and revenue B. advertising and sales promotion C. positioning and differentiation D. sales and marketing E. channel and distribution
positioning and differentiation
The full positioning of a brand is called the brand's ________, which is the full mix of benefits on which a brand is differentiated and positioned. Question content area bottom Part 1 A. benefit proposition B. differentiation statement C. overall brand strategy D. positioning statement E. value proposition
value proposition
The ________________________ is a brand's full positioning or the full mix of benefits on which the brand is positioned. Question content area bottom Part 1 A. target marketing strategy B. differentiation strategy C. value proposition D. positioning map E. brand's personality and voice
value proposition