Exam 6: Customer-Driven Marketing Strategy: Creating Value for Target Customers

Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies.

The marketing manager at Frizzles' Eateries targets customers who are working to lose weight but who still want to dine out. The restaurant chain offers a wide variety of low-fat, low-calorie meals that appeal to dieters. Frizzles' approach is best referred to as ________ segmentation.

Danko International is a multinational company that targets the BRIC countries (Brazil, Russia, India, and China)because they're fast-growing developing economies and use ________ to segment its world markets.

Companies are likely to gain ________ through speedy, convenient, or careful delivery of products.

Eastline, a manufacturer of outdoor patio furniture, positions its products as superior in weatherproofing and durability. This is an example of ________ differentiation.

Port Orleans Shipping markets different services to the tourism, defense, and trade segments. The firm designs separate offers for each segment based on their needs. This approach is called ________ marketing.

The marketing manager of Refresh Inc., a leading producer of soft drinks, is considering a differentiated marketing strategy. An important consideration is weighing increased sales against ________ before selecting this strategy.

The full positioning of a brand is referred to as the ________.

When an effective program can be designed for attracting and serving a chosen segment, the segment is best described as ________.

Business and consumer marketers use many of the same variables to segment their markets.

Which of the following is true of product positioning?

Demographic variables are generally more difficult to measure than most other types of variables.

Zeal is a popular automobile brand, and its positioning statement is: "For upscale American families who require large vehicles, Zeal is the automobile of choice." Which of the following mandatory elements is missing from the positioning statement?

Which type of market segmentation is generally used by marketers who sell luxury products targeted to the affluent segments of a population?

Dividing buyers into groups based on their knowledge, attitudes, uses, or responses to a product is called ________ segmentation.

Why do international markets need to be segmented?

While designing a customer-driven marketing strategy, marketers are likely to divide the market into smaller segments.

Lilly's, a furniture retailer, sells low-end furniture and accent pieces that are targeted toward lower-income consumer groups. Lilly's most likely segments the consumer market based on ________ variables.

At the extreme, micromarketing becomes ________ insofar as products and marketing programs are tailored to the needs and preferences of customers.

Argonaut Food Stores, a retail giant, hires better-skilled employees than its competitors by employing strategic recruitment practices. It also conducts highly specialized training programs for its employees. In this case, Argonaut has focused on gaining a strong competitive advantage through ________ differentiation.