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Which of the following statements about segmentation is true? |
Different segments might require different marketing strategies or mixes. |
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There is a growing segment of people who want food that tastes good and is also good for them. This healthy-living segment represents which segmentation base? |
Lifestyle |
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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. |
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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 |
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On the My M&Ms website buyers 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 for My M&Ms? |
Individual marketing |
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Which of the following descriptions best represents targeting a demographic segment? |
Marketing prepackaged lunches for children |
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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. |
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Choosing a differentiated targeting strategy has many benefits, but a potential downside is that __________. |
it can increase costs |
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Psychographic segmentation divides buyers into different segments based on __________. |
lifestyle and personality |
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Which value proposition is the most difficult to sustain in the long run? |
More for less |
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When segmenting international markets, marketers often can form segments of consumers who have similar needs and buying behaviors even though they are located in different countries. This is called __________. |
intermarket segmentation |
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Which base of segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses to a product? |
Behavioral |
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If men and women respond similarly to the same marketing mix, they do not constitute distinct, identifiable segments. Gender would not be an effective base for segmentation in this example because the segments are not __________. |
differentiable |
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Which of the following statements regarding demographic segmentation is correct? |
Consumer needs, wants, and usage rates vary closely with demographic variables. |
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Which targeting strategy focuses on common consumer needs, as opposed to different needs? |
Mass marketing |
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The process of evaluating each market segment’s attractiveness and selecting one or more market segments to enter is called __________. |
market targeting |
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When segmenting international markets, markets can be grouped according to language, religion, customs, and values. This type of segmentation is based on __________ factors. |
cultural |
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What is the overall purpose of differentiation? |
To create superior customer value |
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What are perceptual positioning maps used for? |
To show consumer perceptions of different brands on important product dimensions |
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The full mix of benefits on which a brand is differentiated and positioned is called a(n) __________. |
value proposition |
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What are the three broad targeting strategies used by marketers? |
mass marketing, differentiated marketing, and micromarketing |
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Which of the following statements regarding positioning is correct? |
Positions must adapt over time to meet changing consumer needs |
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Which of the following statements regarding concentrated marketing is correct? |
Concentrated marketing involves higher-than-normal risks |
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Fitbit makes health and fitness tracking devices. Some buyers want very basic fitness tracking such as steps taken and calories consumed. Others are focused on high performance and want heart rate and sleep monitoring, text notification, and wireless sync to their smart phone. In serving these two very different groups, Fitbit is using __________ segmentation. |
benefits sought |
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BMW says their cars are "The Ultimate Driving Machine". Ford trucks are "Built Ford Tough". Which type of differentiation do these examples represent? |
product differentiation |
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Market __________ evaluates each market segment’s attractiveness and selects one or more segments to serve. |
targeting |
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The step in designing a customer value-driven marketing strategy in which a company divides a market into distinct groups of buyers is known as market __________. |
segmentation |
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__________ segmentation divides buyers into different segments based on lifestyle or personality characteristics. |
Psychographic |
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__________ segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses to a product. |
Behavioral |
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Using a(n) __________ marketing strategy, a firm might decide to ignore market segment differences. |
undifferentiated |
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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 |
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The winning value proposition by discount stores such as Walmart and Best Buy can be categorized as __________. |
the same for less |
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