Final Part 2

The case on Chuck E Cheese explains how the company has expanded the business to Latin America. Which of the following segmentation variables did Chuck E Cheese use to identify thier consumer markets?

All of the above

Marketing offering are mainly

Any of the above

In general, competitive advantage refers to what your business does better than yours

Competitors

Which of the following market targeting strategies offer smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be overlooked by larger companies?

Concentrated marketing

Stew Leonard, the owner of a highly successful regional supermarket chain, reacts adversely to losing a single customer sale. He feels that this amounts to losing the entire stream of future purchases that a customer is likely to make if she remains in the area. Stew Leonard's concern is an illustration of which of the following?

Customer lifetime value

Fun & Run, a local amusement park, promotes its services by allowing consumers to upload videos and write reviews about the park. Is an example of

Customer-engagement

Patrick McCormick now has the buying power to purchase the golf clubs he has wanted for the last six months. Patrick's want now has become a

Demand

Which of the following scenario ms BEST describes the Societal Marketing concept?

Edward's Earthware attempt to make its pottery in a way that satisfies customers but is also environmentally friendly and sustainable over the long term

Blue Outdoor has developed a new design for its line of fishing boats that their staff believes will offer the most in terms of quality, performance, and innovation features. Blue Outdoors is practicing production concept here.

False

In marketing process model the first four steps are to capture value after creating value

False

The unique characteristic of service's inseparability means that services and experiences are the same and they are inseparable

False

Using a differentiated marketing strategy, a company is likely to design a product and a marketing program that will appeal to the larger number of buyers

False

service perishability means that services can be stored for later sale or use

False

Heeltoe, a boutique that caters to the footwear needs of women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged women, and the other line targets younger professionals and homemakers. What Variables did Heeltoe most likely use to identify its market segments?

Gender, age and occupation

The positioning map of a new burger restaurant shows the new burger restaurant's management wants customers to perceive their burgers as _____ and _____ than those of competitors

High; High

According to the case study on ALDI, the winning value proposition adopted by ALDI is

Less for much less

What are the four steps to design a customer value-driven market strategy? (In order)

Market segmentation, targeting, Differentiation, and positioning

Although ACE Steakhouse charges a higher price than its competitors in the area do, it is popular among customers for the high quality of service and experiences it offers. In the case the steakhouse most likely offers

More for more value proposition

Many firms are trying to identify smaller, better-defined target groups by using

Multiple segmentation bases

The website leftyslefthand.com markets products to​ left-handed consumers only. Which targeting strategy does this​ represent?

Niche marketing

Bakeries and coffee bistros that offer pumpkin-flavored items only during the autumn season target their consumers primarily through ________ segmentation.

Occasion

Elizabeth recently participated in a mystery shopper program to evaluate the service quality of Hotel Intel. Her main task is to stay at the hotel for a night to find out if the perceived performance of Hotel Intel matched her expectations. in this case, Elizabeth is measuring her level of

Satisfaction

When a department store adding groceries, prepared food items, furniture, and nursery plants to its transitional clothing and household items, the stores tries to capture a greater

Share of customer

A BMW automobile may cost a lot; but for customers who own one, a BMW is a great value. This is an example of customer ñ-perceived value

True

A market segment includes potential consumers who share a common need or want

True

Marketing is primarily concerned with managing relationships with profitable customers

True

The case on Dunkin in our textbook states while Starbucks is strongly positioned as a sort of high - brow " third place " outside the home and office , Dunkin has positioned itself as a place for the average Joe .

True

When a company selects the parts of the market it can serve best and most profitably, it is practicing market targeting

True

Demographic Variables are the most popular bases for segmenting customer groups because they

are easier to measure

As a business consultant, what type of segmentation would you suggest to marketers who cater to people of certain social classes, lifestyles, and personality characteristics?

psychographic

_____ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible

services