Chapter 6 My Marketing Lab
Once a company has decided which segments to enter, it must decide on its ________ strategy. A. advertising and sales promotion B. positioning and differentiation C. financial and revenue D. channel and distribution E. sales and marketing
B. Positioning and differentiation
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. A. different needs, characteristics, or behaviors B. needs, wants, and desires C. different needs, characteristics, traits, and behaviors D. primarily different behaviors E. different needs, characteristics, or buying power
A. different needs, characteristics, or behaviors
Which of the following are additional variables marketers use to segment business markets but not consumer markets? A. Operating characteristics, purchasing approaches, situational factors, and region B. Operating characteristics, purchasing approaches, situational factors, and personal characteristics C. Operating characteristics, purchasing approaches, situational factors, and benefits sought D. Operating characteristics, purchasing approaches, situational factors, and usage rate E. Operating characteristics, purchasing approaches, situational factors, and loyalty status
B. Operating characteristics, purchasing approaches, situational factors, and personal characteristics
Evaluating each market segment's attractiveness and selecting one or more market segments to enter is called _____. A. positioning B. market targeting C. market segmentation D. mass marketing E. differentiation
B. market targeting
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. A. reach them more efficiently, and differentiate products and services B. reach them more efficiently, and tailor market offerings and messages C. reach them more efficiently, and position products and services D. position, and tailor market offerings and messages E. target, and tailor market offerings and messages
B. reach them more efficiently, and tailor market offerings and messages
There are four major variables that might be used in segmenting consumer markets. Those major variables are ________ variables. A. geographic, demographic, cultural, and behavioral B. geographic, demographic, psychographic, and behavioral C. geographic, demographic, political and economic D. geographic, demographic, psychographic, and political E. geographic, demographic, economic, and behavioral
B. geographic, demographic, psychographic, and behavioral
A customer value-driven marketing strategy seeks to build the right ________ with the right ________. A. product pipeline; customers B. relationships; customers C. sales strategies; revenue targets D. products or services; customer needs E. sales strategies; customers
B. relationships; customers
After identifying attractive market segments, the company then chooses one of four market-targeting strategies, ranging from very broad to very narrow targeting. The seller can ignore segment differences and target ________. A. broadly using differentiated marketing B. broadly using undifferentiated (or mass) marketing C. narrowly and indiscriminately D. narrowly using differentiated marketing E. narrowly using undifferentiated (or mass) marketing
B. Broadly using undifferentiated (or mass) marketing
Although business marketers use many of the same variables to segment their markets, they also use some additional variables, such as ________, ____________. _________ and personal characteristics. A. customer operating characteristics, purchasing approaches, management factors B. customer operating characteristics, purchasing approaches, situational factors C. customer operating characteristics, sales and proposal processes, situational factors D. customer operating characteristics, purchasing approaches, environmental factors E. customer operating characteristics, vendor selection processes, situational factors
B. Customer operating characteristics, purchasing approaches, situational factors
The seller can adopt _____, developing different market offers for several segments A. concentrated marketing B. differentiated marketing C. micromarketing D. undifferentiated marketing E. niche marketing
B. Differentiated Marketing
A _____ defines how a company will create differentiated value for targeted segments and what positions it wants to occupy in those segments A. unique proposition B. value proposition C. value statement D. mission statement E. positioning map
B. Value proposition
Which structural factor would make a market segment attractive to enter? A. Many strong and aggressive competitors B. Very few actual or potential substitute products C. New entrants can easily come into the segment D. Powerful buyers E. Powerful suppliers
B. Very few actual or potential substitute products
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. A. a set of possible differentiations; product features and benefits B. a set of possible differentiations; advantages C. positioning statements; advantages D. a set of products; advantages E. products or services; features and benefits
B. a set of possible differentiations; advantages
Once groups have been identified, market ________ evaluates each market segment's attractiveness and selects one or more segments to serve. A. segmentation B. positioning C. targeting D. differentiation E. micro-targeting
C. targeting
What are the four major variables used to segment consumer markets? A. Geographic, demographic, psychographic, and psychological B. Ethnicity, region, gender, and income C. Geographic, demographic, psychographic, and behavioral D. Income, age, geography, and lifestyle E. Income, gender, age, and ethnicity
C. Geographic, demographic, psychographic, and behavioral
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. A. differentiation statement B. positioning statement C. value proposition D. overall brand strategy E. benefit proposition
C. Value proposition
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 ________________________. A. product development strategies and competitive marketing strategies B. distribution characteristics and competitive marketing strategies C. market variability and competitive marketing strategies D. market variability and sales strategies E. sustainability strategies and market variability
C. market variability and competitive marketing strategies
________ are summarized in positioning statements that state the target segment and need, the positioning concept, and specific points of difference. A. Product and brand positioning B. Differentiation and positioning C. Company and market positioning D. Company and brand positioning E. Company and product positioning
D. Company and brand positioning
The key to the effectiveness of the segmentation analysis depends on finding segments that are ________. A. measurable, substantial, differentiable, and actionable B. measurable, accessible, differentiable, and actionable C. measurable, accessible, substantial, and differentiable D. measurable, accessible, substantial, differentiable, and actionable E. measurable, accessible, substantial, and actionable
D. Measurable, accessible, substantial, differentiable, and actionable
To target the best market segments, the company first evaluated each segment's ______. A. size and growth characteristics and structural attractiveness B. compatibility with company objectives and resources C. size and growth characteristics and compatibility with company objectives and resources D. size and growth characteristics, structural attractiveness, and compatibility with company objectives and resources E. size and growth characteristics
D. Size and growth characteristics, structural attractiveness, and compatibility with company objectives and resources
What is market segmentation? A. Differentiating the firm's market offering to create superior customer value B. Marketing to a mass market of homogenous buyers C. Evaluating each market segment's attractiveness and selecting one or more market segments to enter D. Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers E. Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes
E. Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes
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. A. Positioning; target marketing B. Positioning; segmentation C. Differentiation; segmentation D. Positioning; differentiation E. Differentiation; positioning
E. Differentiation; positioning
In which targeting strategy does a firm go after a large share of one or a few smaller segments? A. Undifferentiated marketing B. Differentiated marketing C. Mass marketing D. Micromarketing E. Concentrated marketing
E. Concentrated Marketing
What is a products proposition? A. How much consumers are willing to pay for a product B. How the company advertises a product C. The market share of a product D. Where a product is located on store shelves E. The way a product is defined by consumers on important attributes
E. The way a product is defined by consumers on important attributes