BA 303 Chapter 7

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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

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

Behavioral

Toothpastes claim they​ "whiten teeth,"​ "fight bad​ breath," and​ "reduce plaque." Which base of segmentation is being used in this​ example?

Benefits sought

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

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

Anythinglefthanded.com.uk only sells products designed for​ left-handed people. Which targeting strategy is it​ using?

Concentrated marketing

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.

Which of the following statements about segmentation is​ true?

Different segments might require different marketing strategies or mixes.

A company can differentiate itself from competitors using symbols such as​ McDonald's golden​ arches, Twitter's​ bird, and the Nike swoosh. Which type of differentiation is​ this?

Image differentiation

On the My​ M&Ms Web​ site, users 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​ here?

Individual marketing

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

More for less

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

Psychographic

When marketers target segments such as sports​ fans, do-it-yourselfers,​ commuters, and wine​ enthusiasts, which base of segmentation are they​ using?

Psychographic segmentation

What is the purpose of​ differentiation?

To create superior customer value

What are perceptual positioning maps used​ for?

To show consumer perceptions of different brands on important buying dimensions

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

channel

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​ __________.

concentrated marketing

If men and women respond similarly to the same marketing​ mix, they do not constitute different segments. Gender would not be effective in this example because the segment is not​ ________.

differentiable

The Westin Stamford Hotel in Singapore failed when it once advertised itself as the​ world's tallest hotel. This difference was not worth establishing because it did not satisfy which of the following​ criteria?

important

One important consideration in using a differentiated targeting strategy is that​ ________.

it can increase costs

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

market targeting

The step in designing a customer valuedash-driven marketing strategy in which a company divides a market into distinct groups of buyers is known as market​ __________.

segmentation

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

targeting

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

the same for less

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

undifferentiated


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