Marketing Chapter 7

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

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

channel

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

product differentiation

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

it can increase costs

Choosing a differentiated targeting strategy has many​ benefits, but a potential downside is that​ __________.

benefits sought

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.

concentrated marketing

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​ __________.

targeting

Market​ __________ evaluates each market​ segment's attractiveness and selects one or more segments to serve.

lifestyle and personality

Psychographic segmentation divides buyers into different segments based on​ __________.

differentiating

Sprout has created a unique market offering by integrating its programs with both children and parents. This unique offering that creates superior customer value is known as​ __________.

demographic

Sprout markets to​ preschool-aged children and their parents. Which type of segmentation is Sprout most likely​ using?

benefits sought

Sprout segmented the market by targeting parents of preschoolers who wished to have an educational and entertaining experience for and with their children. Which type of segmentation does this​ describe?

value proposition

The full mix of benefits on which a brand is differentiated and positioned is called​ a(n) __________.

value propositioning

The full mix of benefits on which a brand is differentiated and positioned is called​ a(n) __________.

market targeting

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

segmentation

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​ __________.

the same for less

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

lifestyle

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?

undifferentiated

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

Mass​ marketing, differentiated​ marketing, and micromarketing

What are the three broad targeting strategies used by​ marketers?

to create superior customer value

What is the overall purpose of​ differentiation?

The channel is marketed to both children and their parents and airs 24 hours a day.

What is the unique positioning of​ Sprout?

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

What is​ positioning?

cultural

When segmenting international​ markets, markets can be grouped according to​ language, religion,​ customs, and values. This type of segmentation is based on​ __________ factors.

sprouts overall customer value

Which of the following best describes Sprouts competitive​ advantage?

positions must adapt over time to meet changing consumer needs

Which of the following statements regarding positioning is​ correct?

Positions must adapt over time to meet changing consumer needs.

Which of the following statements regarding positioning is​ correct? A. Establishing a position usually takes a very short amount of time. B. Abruptly changing a position is an effective strategy when consumer needs change. C. Once a positioning strategy is​ identified, it is typically very easy to implement. D. Once​ established, a strong position is never lost. E. Positions must adapt over time to meet changing consumer needs.

Consumer and business marketers use many similar​ variables, but business marketers use additional variables to segment their markets.

Which of the following statements regarding segmentation is​ correct?

To show consumer perceptions of different brands on important product dimensions

what are perceptual positioning maps used​ for?

psychographic

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

behavioral

​__________ segmentation divides buyers into segments based on their​ knowledge, attitudes,​ uses, or responses to a product.