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