Marketing Chapter 7 Quiz

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

Which of the following statements regarding segmentation is​ correct?

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

On the My​ M&Ms website buyers can place custom orders for​ M&Ms. They can choose their own​ colors, put a personalized text message on the​ candies, and even upload a photo to be placed on each​ M&M. Which targeting strategy is​ M&M using for My​ M&Ms?

Individual marketing

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

Mass marketing

Which value proposition is the most difficult to sustain in the long​ run?

More for less

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

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

lifestyle and personality

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

market targeting

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

value proposition