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

Benefit segmentation requires finding the major benefits people look for in a product class, the kinds of people who look for each benefit, and the major brands that deliver each benefit.

Shine Enterprises mass produces an all-purpose floor cleaner which is aimed at the whole market. This firm uses a(n) ________ marketing strategy.

Individual marketing is also known as one-to-one marketing, mass customization, and markets-of-one marketing.

Double Drill Inc. segments its foreign markets by per capita income. This firm segments the international markets based on ________.

The winning value proposition would be to offer ________.

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 of the following market segmentation is evident here?

A(n) ________ consists of a set of buyers who share common needs or characteristics that the company decides to serve.

Perry's Mart, a grocery store in New Orleans, Louisiana, offers less merchandise selection and fairly low levels of service. Despite the lackluster service and limited selection of merchandise, customers still flock to Perry's because it charges rock-bottom prices. Perry's Mart most likely uses the ________ positioning.

Briefly describe geographic segmentation.

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?

What are the primary requirements for effective market segmentation?

Why must marketers guard against stereotypes when using age and life-cycle segmentation?

An American cola-manufacturing company that primarily targets rebellious and adventurous people most likely uses ________ segmentation.

________ is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations.

________ marketing is more suited for uniform products, such as grapefruit or steel.

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?

Refer to the scenario below to answer the following questions. Herb Marks was making wooden pens and pencils, which had unique engravings, as a hobby until Mel Yoder recognized Herb's talent. Mel immediately ordered 250 pens and pencils of various styles to be displayed in his shop's showcase. Within three months, the wooden pencils were a hit with all school goers! Herb Marks had never thought of marketing his talent, but Mel's enthusiasm and the recent sales were enough to change his mind. With limited resources, Herb contacted three additional specialty shops within 100 miles which were situated near schools. He explained his manufacturing processes and engraving options to each. All three shop owners placed a trial order. Within two months, just prior to the holiday season, each shop owner placed an additional order. Herb was ecstatic! "I figured business would slow down after that," Herb stated, "but in February I was contacted by Elmore Distributors. At that point, I had to make a huge decision about how far I wanted to go with this business." Elmore Distributors provides products for school fundraisers in a seven-state area. Herb was offered a two-year contract and immediate inclusion in Elmore's promotional flyer. Herb Marks accepted the offer and, along with it, the responsibility to produce thousands of wooden pens and pencils. "I had to get a grip on the magnitude of this project," Herb added. Herb decided to place his major focus on the large contract with Elmore. However, to avoid placing his total emphasis with one customer, Herb continued nurturing his four previously established accounts without targeting any additional customers. "At this point, I had set up an assembly line in a rented building," Herb explained. "I had to hire three full-time employees to work the line while I managed the customer orders and purchased materials." Herb paused. "But I can't take the Elmore project for granted. It might not always be there. I'll have to have a good alternate plan if that day comes." -In the scenario, Herb has segmented his market based on ________.

When order requests come in, the designers of Titus Furniture often go to a client's location to note their requirements, budget, and expected date of delivery. In this way, Titus Furnitures is successful in tailor-making products for its customers. This is an example of ________.

Bailey's Burgers promotes the Bailey's Jumbo Burger as a fun snack for teens and young adults. In this instance, Bailey's Burgers is practicing ________ segmentation.

In the context of behavioral segmentation, who among the following is a potential user?