Chat with AIExam 6: Customer-Driven Marketing Strategy: Creating Value for Target Customers
The distinctive yellow and blue "hands held high" logo of a local daycare distinguishes it from other establishments. The logo is prominently displayed on its building, t-shirts worn by the children, and at fundraising events. The daycare has differentiated itself through ________.
(30) 
VerifiedA
When a market segment is large or profitable enough to serve, it is termed ________.
(27) VerifiedC
Describe age and life-cycle segmentation with examples. What are the precautions that marketers should take when using age and life-cycle segmentation?
(31) VerifiedConsumer needs and wants change with age. Some companies use age and life-cycle segmentation, offering different products or using different marketing approaches for different age and life-cycle groups. For example, Kraft's Oscar Mayer brand markets Lunchables, convenient prepackaged lunches for children. To extend the substantial success of Lunchables, however, Oscar Mayer later introduced Lunchables Uploaded, a version designed to meet the tastes and sensibilities of teenagers. Most recently, the brand launched an adult version, but with the more adult-friendly name P3 (Portable Protein Pack). Other companies focus on the specific age of life-stage groups. For example, whereas most tablet makers have been busy marketing their devices to grown-ups, Amazon has spotted a tinier tablet market. Feedback from parents suggested that they were handing their entertainment-packed Kindle Fire tablet over to their young children for entertainment, education, and babysitting purposes. To tap this young-family market, Amazon introduced FreeTime Unlimited, a multimedia subscription service targeted toward 3- to 8-year-olds. Marketers must be careful to guard against stereotypes when using age and life-cycle segmentation. For example, although consumers in all age segments love Disney cruises, most Disney Cruise Lines destinations and shipboard activities are designed with parents and their children in mind. Marketers must be careful to guard against stereotypes when using age and life-cycle segmentation. Although some 80-year-olds fit the doddering stereotypes, others ski and play tennis. Similarly, whereas some 40-year-old couples are sending their children off to college, others are just beginning new families. Thus, age is often a poor predictor of a person's life cycle, health, work or family status, needs, and buying power. Companies marketing to mature consumers usually employ positive images and appeals.
Light users are often a small percentage of a company's market but account for a high percentage of total consumption.
(35) Markets can be segmented into groups of nonusers, ex-users, potential users, first-time users, and regular users of a product. This method of segmentation is called ________.
(30) The low cost of setting up shop on the Internet makes it even more profitable to serve seemingly small niches.
(34) Unlike other car rental agencies that are based in airports to serve travelers, Rental Wheelz 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. Rental Wheelz caters to a small share of the large car rental market. From this description, it can be concluded that Rental Wheelz most likely practices ________.
(38) A more-for-more market offering not only offers higher quality but also gives prestige to a buyer.
(28) Explain the four major steps in designing a customer-driven marketing strategy.
(31) Using a differentiated marketing strategy, a company is likely to design a product and a marketing program that will appeal to the largest number of buyers.
(31) A successful niche marketing strategy relies on a firm's ________.
(38) For market segments to be beneficial for companies, they must be measurable.
(38) Describe the different types of value propositions on which a company might position its products.
(33) The practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as ________.
(39) ________ segmentation factors divide buyers into different groups based on social class, lifestyle, or personality characteristics.
(37) Delta, an American video game manufacturer, targets teens between the ages of 13 and 18, providing free game trials and applications. The firm's marketing approach exemplifies ________ segmentation.
(39) 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.
(33) When a company interacts one-on-one with large numbers of customers to create customer-unique value by designing products and services tailor-made to individual needs, it is engaging in ________.
(41) A market segment with powerful suppliers controlling the prices is more attractive than a segment with less powerful suppliers.
(35) 
Filters
- Essay(0)
- Multiple Choice(0)
- Short Answer(0)
- True False(0)
- Matching(0)