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Exam 7: Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

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Question 61

Multiple Choice

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Teen Mania Inc., a company marketing adventure sports merchandise for teenagers, targets the world's teenagers, who have similar needs and buying behavior even though they are located in different countries. Which market segmentation is evident here?

A) income segmentation
B) psychographic segmentation
C) gender segmentation
D) intermarket segmentation
E) occasion segmentation

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Question 62

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A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each is known as ________.

A) mass marketing
B) differentiated marketing
C) concentrated marketing
D) individual marketing
E) cross-marketing

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Question 63

Multiple Choice

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Sanguine Services is a small company that uses a marketing strategy in which its limited resources are employed to target a large share of two small market segments. Sanguine most likely uses which of the following marketing strategies?

The Jay Group hires better employees than its competition by conducting effective searches and multi-tiered interviews. The company also provides high quality training to its employees, an aspect often neglected by competitors. The Jay Group is most likely to gain a strong competitive advantage through which type of differentiation?

Ferrari sports cars claim superior quality, performance, and style. Ferrari provides "perfection" at a premium price to keep its brand image intact. Which type of value proposition does Ferrari most likely position its products with?

Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods. This is an example of ________.

Gender segmentation has long been used in clothing, cosmetics, toiletries, and magazines.

Kia Motors offers a new car model with the same features as other cars in the same segment. However, Kia's model is priced higher than its two main competitors. Kia is following a more-for-less positioning strategy.

Briefly explain local and individual marketing.

With a(n) ________ marketing strategy, a firm goes after a large share of one or a few smaller niches.

Which of the following refers to a behavioral segmentation variable that involves segmenting markets into nonusers, ex-users, potential users, first-time users, and regular users of a product?

________ marketing tailors brands and promotions to the needs and wants of regional customer groups, such as cities, neighborhoods, and even specific stores.

While Jenkins Stationeries was selling branded stationery at premium prices, Pembroke Stationeries, a store across the street, was selling the same branded stationery at discount prices. Which of the following value propositions best describes Pembroke's product positioning?

________ marketing is more suited for products that vary in design.

When segmenting by user status, markets are segmented into light, medium, and heavy product users.

Different soft drinks target different personalities. This is an example of ________ segmentation.

Distinguish between undifferentiated and differentiated marketing strategies.

Marketers who use ________ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals.

All of the following are ways a company can differentiate itself or its product EXCEPT ________.

What is product position? What functions do perceptual positioning maps serve?