Exercise 2
Bose promises "better sound through research." This is an example of ________.
Product differentiation
a market segment is less attractive when
it contains powerful suppliers who can control prices
marketing the same product to a huge customer base without any customization is referred to as
mass marketing
when the size, purchasing power, and profiles of a market segment can be determined, the market segment is said to be
measurable
Household Storez, a local retail store, claims to offer better products at lower prices than other retail stores. In this case, the firm's positioning reflects a ________ value proposition.
more-for-less
which of the following is true of perceptual positioning maps
they are used to analyze consumer perceptions of a brand relative to competing products
the marketing manager at Frizzles' Eateries targets customers who are working to lose weight but who still want to dine out. the restaurant chain offers a wide variety of low-fat, low-calorie meals that appeal to dieters. Frizzles' approach is best referred to as ____ segmentation
benefit
Harry's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged men, and the other line targets younger, up-and-coming professionals. Harry's most likely segments the consumer market based on ________ variables.
demographic
Lilly's, a furniture retailer, sells low-end furniture and accent pieces that are targeted toward lower-income consumer groups. Lilly's most likely segments the consumer market based on ________ variables.
demographic
Which of the following best describes market segmentation
dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors
which type of market segmentation is generally used by marketers who sell luxury products targeted to the affluent segment of a population
income
Rad, a manufacturer of luxury watches, charges a higher price for its products than its competitors. Despite the high prices, the brand is popular among customers for its quality and service in comparison to cheaper alternatives available in the market. In this case, Rad offers a(n) ________ value proposition.
more-for-more
Gold Class Electricals, a consumer-electronics firm, targets market segments based on factors such as country, age, social class, usage rate, and benefits sought. The company divides its markets based on ________.
multiple segmentation bases
Zeal is a popular automobile brand, and its positioning statement reads as follows: "For upscale American families who require large vehicles, Zeal is the automobile of choice." Which of the following mandatory elements is missing from the positioning statement?
point of difference
_____ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers
positioning
Unlike other car rental agencies that are based in airports to serve travelers, Wheelz-On-Rent has a network of neighborhood offices. The firm strives to serve people who need car rentals for reasons other than vacation, such as when their own cars are being repaired. Wheelz-On-Rent caters to a small share of the large car rental market. From this description, it can be concluded that Wheelz-On-Rent most likely practices ________.
Concentrated differentiation
One reason demographic variables are the most popular bases for segmenting customer groups is because they ________.
are easier to measure than other variables
the marketing manager of Refresh Inc. a leading producer of soft drinks, is considering a differentiated marketing strategy. An important consideration is weighing increased sales against ____ before selecting this strategy
increased costs
which of the following is the right order of the steps that companies generally follow in designing a customer-driven marketing strategy
market segmentation, market targeting, differentiation, and positioning