IBM (Chapter 9 Connect Assignment (Finish!))

b. symbols

Some ____, like the Nike swoosh, are strong and well known; they create a position for a brand distinguishes it from the competition. a. products b. symbols c. brands

a. market growth b. market competitiveness

Some key factors to keep in mind when marketers focus their assessments on the potential profitability of market segments, both current and future, are: (select all that apply) a. market growth b. market competitiveness c. market oriented era d. market channel management

a. competition

"Pork. The Other White Meat." is an advertising campaign that promote pork as a white meat alternative to chicken or turkey. This is a positioning strategy that focuses on: a. competition b. value pricing c. usage d. branding

Psychographic

(Spell correctly...there is no plural) ____ segmentation is a method that delves into how consumers actually describe themselves, their attitudes, interest, and activities.

cookie

A ____ is a small text file providing a unique identification for each site visitor.

ideal

A point where a market segment's desired product would be located on a perceptual map is called a(n) ____ point.

geodemographic

A retailer can use ____ segmentation, which uses a combination of geographic, demographic, and lifestyle characteristics to classify consumers who may patronize stores close to their neighborhood.

a. positioning

A well-known symbol can be used as a ____ tool, distinguishing the brand from its competition. a. positioning b. segmentation c. pricing

a. target markets

After evaluating each market segment's attractiveness, the firm can focus on ____. This allows the firm to do a better job of satisfying its customers. a. target markets b. competitors c. customers d. other things

demographic

Age, gender, and income are all examples of ____ segmentation variables.

a. multiple

Because each segmentation method has its unique advantages and disadvantages, most firms often employ ____ methods. a. multiple b. basic c. fewer d. simple

d. communication

Benefits segmentation is often effective. It is relatively easy to portray a product's or service's benefits in the firm's ____ strategies. a. supply chain b. sales c. relationship d. communication

a. appeal to

Breakfast cereal manufacturers have separated the market into many segments. Kellogg's makes several different types of breakfast cereal to ____ several very diverse segments. a. appeal to b. profit from c. concentrated on d. differentiate

concentrated

By selecting only senior woman golfers as the target and focusing all efforts on products to fit their needs, a firm is using a(n) ____ targeting marketing strategy.

c. target

Companies should convey a clear, distinctive, desirable understanding of what the product or services do or what they represent relative to competing products, in the minds of customers in their ____ market. a. informed b. process c. target d. associated

b. more expensive

Compared to most available targeting strategies, differentiated targeting is ____. a. definitely more profitable b. more expensive c. more practical d. more easily sustainable e. more reachable

c. focused

Concentrated targeting strategies are generally more ____ than differentiated targeting strategies. a. complex b. scattered c. focused d. unfocused

geographic

McDonald's promotes coffee in cold, rainy Seattle and seasonal seafood meals including lobster and crab in select markets like New England. This is an example of ____ segmentation.

current

On a perceptual map, marketers can represent the size of both ____ and potential markets. By using different sized ovals that correspond to the market size.

c. psychographic

Daniel joined an outdoor activities club. He has begun to purchase many books about kayaking and rafting. Borders bookstore sends him email promotions focusing on outdoor activities. This is an example of ____ segmentation, based on lifestyles. a. demographic b. geographic c. psychographic d. behavioral

b. psychographic

Despite different demographics, consumers may hold similar self-values and might perceive themselves to belong to a distinct group of people. To reach this segment, the marketing manager might use ____ segmentation. a. benefit b. psychographic c. geographic d. demographic

a. similarities; differences

Different segments should have obvious customer ____ within the segment and greater ____ across the segments. a. similarities; differences b. similarities; familiarity c. differences; similarities d. target; positioning

a. competition c. value e. salient attributes f. symbols

Firms position product based on methods including (select all that apply): a. competition b. psychographics c. value d. demographics e. salient attributes f. symbols

d. it is always a challenge to do so

Firms that wish to change a product's positioning should be aware that: a. it is a simple, straightforward process b. it is impossible to do so c. it is easy to do as long as the firm does lots of advertising d. it is always a challenge to do so

differentiated

Firms using a(n) "____ targeting strategy" direct their efforts to several market segment distinct brands and offering for each segment.

b. segmentation

For a ____ strategy to be successful, the customers in the group must react similarly and positively to the firm's offering. a. profit b. segmentation c. distribution d. promotional

c. differentiated

Ford Motor Company owns Ford, Lincoln, Mercury, and Volvo automotive brands. Ford Motor uses this variety of brands to pursue a(n) ____ targeting strategy. a. benefit b. undifferentiated c. differentiated d. micromarketing

b. geodemographic

Foster Designs sells different types of clothing for men and women. To ensure the retail store location contain the appropriate assortment of clothing for the area, the firm should use ____ segmentation. a. psychographic b. geodemographic c. benefit d. demographic

a. segmentation b. positioning d. targeting

Identify the three components of the STP process. a. segmentation b. positioning c. placement d. targeting e. stratification f. traffic management

a. obtain a bigger share of the market

One of the benefits of a differentiated targeting strategy is that it allows the firm to: a. obtain a bigger share of the market b. reduce personnel expenses c. reduce marketing expenses d. spread overhead out evenly

c. underlying motivations

VALS can be used to help a Caribbean resort identify customer most interested in and able to afford tropical vacations. Based on the ____ of its target customers, the resort can develop a successful advertising campaign. a. demographics b. schedules c. underlying motivations d. income distribution

b. psychographic

VALS is the most widely used ____ segmentation tool. a. motivation b. psychographic c. occasion d. innovators

c. correlations

VALS shows ____ between psychology and lifestyle choices. a. differences b. priorities c. correlations d. drawbacks

undifferentiated

When everyone is considered a potential user of its product, a firm should use a(n) ____ targeting strategy.

c. The company sells its chocolate in simple plastic bags, but also offers it in attractive boxes for gift giving.

Which of the following is an example of occasion segmentation for a chocolate maker? a. The company sells white, milk, and dark chocolate to server different preferences. b. The company prices its chocolates differently in different geographic areas. c. The company sells its chocolates in simple plastic bags, but also offers it in attractive boxes for gift giving. d. The company sells both regular and sugar-free chocolate.

c. consumer's

Why is a perceptual map used in developing a positioning strategy? To display the position of the products or brands in the ____ mind. a. retailers' b. brand marketer's c. consumer's d. competitors'

c. VALS (Value and Lifestyle Survey)

____ is a psychographic tool owned and operated by Strategic Business Insights (SBI) that classifies consumers into eight segments based on their answer to the questionnaire. a. PRIZM b. Zip Code c. VALS d. Tapestry

d. Self-concept

____ is the image people ideally have of themselves. a. Lifestyle b. Self-value c. Self-selection d. Self-concept

c. Behavioral

____ segmentation forms market segments based on the way consumers use a product, such as more frequently or with greater loyalty. a. Life style b. Substantial c. Behavioral d. Benefit

Demographic

____ segmentation groups consumers according to objective characteristics such as age, gender, income, and education.

Benefit

____ segmentation groups consumers on the basis of the outcomes they seek and derive from the products or service, such as clothing, appliances, toothpaste, or paper towels.

Occasion

____ segmentation is a very specific form of behavioral segmentation in which segments are formed based on the situation in which the product or service is purchased or consumed for a special event activity.

Demographic

____ segmentation variables include age, income, and gender.

d. a trademark infringement lawsuit

If a firm positions its product too closely to the competition, they are risking: a. consumer backlash b. rising production costs c. being forced to set a low price d. a trademark infringement lawsuit

b. small; insignificant

If a market is too ____ and its buying power ____, it won't generate sufficient profits or be able to support the marketing mix activities. a. large: insignificant b. small; insignificant c. large; rapid in growth d. small; rapid in growth

a. lifestyle

If values provide goals, and self-concept is the way we see ourselves, ____ is how we live lives to achieve goals and provides a method for market segmentation. a. lifestyle b. value c. self-worth d. self-image

a. loyalty

In light of the high costs associated with finding new customers who feel that a brand can meet their relevant needs and are willing exclude competitors, today's companies are using "____ segmentation" and investing in initiatives to retain their most profitable customers. a. loyalty b. occasion c. benefit d. usage

a. the product or service overlaps with customer needs and wants, but not with competitor's offerings

In the Circles for a Successful Value Proposition, the best situation for a firm is if: a. the product or service overlaps with customer needs and wants, but not with competitor's offerings b. the product or service overlaps with competitor's offering but not with customer needs c. customer needs/wants overlap with competitors' offering but not with the product or service d. the product or service overlaps with both customer needs/wants and competitors' offerings

a. Unique difference/benefits b. Target market d. Product/service category or concept

In the value proposition, "SportsAde offers serious athletes a great-tasting way to say hydrated during exercise," identify, from the following, which are elements of the four main value components. a. Unique difference/benefits b. Target market c. Demographic segmentation d. Product/service category or concept e. Taste f. Psychographics

a. distinct marketing strategies are not necessary to meet segment members' needs

It is important to ensure that segments are distinct from one another because too much overlap between segments means that ____. a. distinct marketing strategies are not necessary to meet segment members' needs b. the target market segments is too large c. the target market segment is too small d. there is a need to have many diverse market segments targeted

c. self-values

John is a supporter of environmental issues. He is constantly examining the "green" credentials of the products he purchases. John's purchasing behavior is a reflection of his ____. a. labeling b. self-concept c. self-values d. VALS

d. take longer and cost more

Justin's Western Wear allows customers to custom order boots. When compared to purchasing ready-to-wear boots, the customized boot typically ____ to receive. a. take an equal amount of time and cost about the same b. arrive earlier but cost more c. take an equal amount of time but cost more d. take longer and cost more

1. Establish strategy or objectives. 2. Describe segments 3. Evaluate segment attractiveness 4. Select target market. 5. identify and develop positioning strategy.

List the following in order of the segmentation, targeting, and positioning process: 1. identify and develop positioning strategy. 2. Establish strategy or objectives. 3. Evaluate segment attractiveness. 4. Select target market. 5. Describe segments.

c. undifferentiated

Frequently, when a new product is introduced and managers do not really know who will adopt the product and, essentially, everyone could be considered as potential customers, the firm is most likely to use a(n) ____ strategy. a. niche b. differentiated c. undifferentiated d. micromarketing e. concentrated

c. profitable

Loyal customers buy a substantial amount from the firm. These loyal customers are the most ____ in the long term to the firm. a. heavy users b. similar to each other c. profitable d. successful

competing

Market positioning is done so that the target customers have an understanding of the product offered by the company in comparison with ____ products.

a. brand positions

Marketers ask consumers a series of questions about competitors' products in order to determine the products' ____ on the perceptual map. a. brand positions b. features and benefits c. ideal points d. market shares

c. demographic

Marketers sometimes take into account that as people age their needs change. This is an examples of ____ segmentation. a. psychographic b. benefit c. demographic d. geographic

a. stagnant; react

Markets are not ____. Consumers' tastes shift, and competitors ____ to those shifts. a. stagnant; react b. dynamic; ignore c. dynamic; react d. stagnant; ignore

b. differentiated

Match each of the following targeting strategies with the example showing how that strategy is used. Proctor and Gamble offers Pantene, Head and Shoulders, Aussie, and Wella shampoos a. undifferentiated b. differentiated c. concentrated d. micro-marketing

d. micro-marketing

Match each of the following targeting strategies with the example showing how that strategy is used. a florist designs the bride's and five attendants' bouquets a. undifferentiated b. differentiated c. concentrated d. micro-marketing

c. concentrated

Match each of the following targeting strategies with the example showing how that strategy is used. an infomercial firms sells a gadget to better fry and flip one's eggs a. undifferentiated b. differentiated c. concentrated d. micro-marketing

a. undifferentiated

Match each of the following targeting strategies with the example showing how that strategy is used. sugar, milk, packaged ice a. undifferentiated b. differentiated c. concentrated d. micro-marketing

d. self-concept

McDonald's often target families by showing families having a good time in it advertising. This appeals to a family's: a. self-selection b. lifestyle c. self-value d. self-concept

c. study how the competitors have positioned themselves

Once the firm understands how its competitors' brands are viewed by the consumer, it should next ____. a. try and position its brand in a similar manner b. create a brand that matches the ideal point c. study how the competitors have positioned themselves d. position its products in a different market segment

b. salient

One positioning strategy focuses on the product attributes that are most ____ to the target market. a. expensive b. salient c. valuable d. relevant

describe

Psychographics is a segmentation method that delves into how consumers actually ____ themselves.

b. occupy

Psychographics studies how people ____ their time and what underlying psychological reasons determine their choices. a. value b. occupy c. explain d. judge

b. different

Segmentation methods use a particular method or combination of methods to segment the market. This step also develops descriptions of the ____ segments, which helps firms better understand the customer profiles in each segment. a. discriminate b. different c. unmet d. substantial

c. Undifferentiated marketing d. Concentrated e. Micromarketing f. Differentiated

Select all of the following that are targeting strategies. a. Value added b. Luxury marketing c. Undifferentiated marketing d. Concentrated e. Micromarketing f. Differentiated

c. predict consumer wants and needs poorly

Sometimes, firms find it difficult to use demographics in their segmentation strategies. This is because in some cases demographics: a. are irrelevant to the user b. are prohibitively expensive to measure c. predict consumer wants and needs poorly d. are very complicated to understand

d. behavioral

Southwest Airlines promotes its Rapid Rewards program to reward frequent flyers with benefits like free travel vouchers, priority seating, and premium beverages. This is an examples of ____ segmentation. a. multiple b. occasion c. psychographic d. behavioral

a. Behavioral

Suppose that Coca-Cola were to divide its market up into segments based on the amount of soda consumers drink (heavy, medium, and occasional soda drinkers). What type of segmentation does this represent? a. Behavioral b. Benefits c. Demographic d. Loyalty e. Occasion

a. trademarks

Symbols are generally registered ____ that are legally protected by companies that create them. a. trademarks b. copyrights c. personalities d. icons

d. value proposition

The ____ communicates the customer benefits to be received from a product or service--in other words, why a customer should purchase the product. a. segmentation strategy b. micromarketing strategy c. targeting strategy d. value proposition

b. segmentation

The ____ strategy must be consistent with and derived from the firm's mission and objectives, as well as its current situation - its strengths, weaknesses, opportunities, and threats (SWOT). a. shareholder b. segmentation c. accounting d. demographic

a. objectives

The first step in the segmentation process is to articulate the vision or the ____ of the company's marketing strategy clearly. a. objectives b. positioning c. communication d. opinion

d. market segmentation

The process of dividing the market into groups of customers who have different needs, wants or characteristics is called ____. These groups of buyers might appreciate products or services designed especially for them. a. positioning b. target marketing c. customer marketing d. market segmentation

c. substantial

The third step in the segmentation process involves evaluating the attractiveness of the various segments. Once a firm is able to identify the market and is able to design products or services to meet its needs, the next step is to determine if the market size is ____. a. expandable b. recognizable c. substantial d. reasonalbe

attractiveness

The third step of the market segmentation process is to evaluate segment ____.

a. segmentation, targeting, and positioning

The third step of the marketing plan is to identify and evaluate opportunities by performing an STP analysis, which stands for: a. segmentation, targeting, and positioning b. segmentation, targeting, and promotion c. strategy, tactics, and positioning d. segmentation, tactics, and positioning

b. communicates the customer benefits provided by a product or service

The value proposition: a. details the marketing mix b. communicates the customer benefits provided by a product or service c. assesses the attractiveness of the target segment d. describes the target market

c. expensive

There are limitations to using psychographic segmentation. Psychographics is a more ____ method used to identify potential customers. a. academic b. trial-and-error c. expensive d. sophisticated

b. False

True or false: Micromarketing segmentation strategies are rarely implemented using the Internet. a. True b. False

b. False

True or false: Positioning a product by value requires that a firm set a low price. a. True b. False

b. price and quality

Value is a popular positioning method and is the most important consideration for consumers when they make a purchase decision because of its relationship with ____. a. quality and quantity b. price and quality c. price and quantity

b. SWOT analysis

What analytical method does a firm typically employ to assess the target market in light of its own competencies? a. It determines the size and buying power of the target market b. SWOT analysis c. ratio analysis d. profit and loss analysis

c. Identifiable, substantial, reachable, responsive, profitable

What are the criteria used by marketers to evaluate whether a segment is worth pursuing or not? a. Identifiable, sizable, reachable, responsive, profitable b. Identifiable, substantial, replaceable, responsive, profitable c. Identifiable, substantial, reachable, responsive, profitable

a. Market competitiveness b. Market access c. Market growth

What are the factors considered in the analysis of profitability of a market segment? Select all that apply. a. Market competitiveness b. Market access c. Market growth d. Market differentiator

c. Perceptual map

What is used to display, in two dimensions, the positions of products or brands in the consumer's mind? a. Product graph b. Ideal position c. Perceptual map

b. demographic

When Kellog's introduced Special K, the marketing communications about the product were meant to primarily appeal to woman. This is an example of ____ segmentation. a. psychographic b. demographic c. geodemographic d. lifestyle

a. micro

When a firm adapts a product or service to meet an individual customer's wants or needs, it is undertaking an extreme targeting strategy called ____ marketing. a. micro b. macro c. mass d. individualized

a. ideal

When a firm knows what consumer think of a product or service and its position relative to other products, it should determine where the ____ point for the product or service is located on a perceptual map. a. ideal b. competitive c. cost-effective d. average

geographic

When a market is grouped by country, region (northeast, southeast), or areas within a region this is known as ____ segmentation.

a. benefit

When customers visit Hewlett-Packard's website, they can choose from different options based on what type of customer they are and why they needs a computer. This is an example of ____ segmentation. a. benefit b. demographic c. value d. psychographic

b. position

When using a perceptual map, a company should select a ____ according to what the market segments it's targeting really wants, or near the ideal point of a product of a segment. a. perception b. position c. target d. product

a. Identifiable b. Profitable e. Reachable

Which of the following are criteria considered by marketers to evaluate whether or not a segment is worth pursuing? (select all that apply) a. Identifiable b. Profitable c. Attractive d. Segmentable e. Reachable

a. Self-respect c. Sense of belonging d. Self-fulfillment

Which of the following are examples of self-values? a. Self-respect b. Self-indulgence c. Sense of belonging d. Self-fulfillment

a. Psychographic b. Geographic d. Benefits

Which of the following are marketing segmentation approaches? (select all that apply) a. Psychographic b. Geographic c. Value d. Benefits

b. Customer needs and wants c. Benefits provided by competitors e. Benefits the company provides

Which of the following are the Circles for a Successful Value Proposition? Select as many as apply. a. The marketing mix b. Customer needs and wants c. Benefits provided by competitors d. Other customer segments e. Benefits the company provides

a. reachable b. identifiable

Which of the following factors must be met in order to define a market segment as attractive? It must be ____ (select all that apply) a. reachable b. identifiable c. unique d. growing

c. It should be compact

Which of the following is NOT a characteristic a desirable market segment should possess? a. It should be responsive to marketing efforts b. Its members should be reachable with marketing communication c. It should be compact d. Its members should identifiable e. It should have good potential to be profitable

b. Market growth rate

Which of the following is NOT a factor influencing the profitability of a segment over the lifetime of a typical customer relationship? a. The cost to replace a customer b. Market growth rate c. The defection rate d. How long the customer will remain loyal e. Future changes in spending patters