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

________ is the process by which firms interact one-to-one with masses of customers to design products and services tailor-made to individual needs.

A company selling child-care products ran a television ad depicting women as being primarily responsible for childcare. Many women viewers considered this regressive, alleging that the ad failed to recognize the much more diversified role of women in today's world. This is an example of ________.

List some important factors that companies need to consider when choosing a market-targeting strategy.

GamaPix makes point-and-shoot cameras and handycams for amateur photographers and hobbyists. It also has a separate line of cameras dedicated to professional photographers. Additionally, it designs separate offers for each segment. Which of the following marketing strategies does GamaPix most likely use in this instance?

________ segmentation divides buyers into different segments based on social class, lifestyle, or personality characteristics.

Which of the following is true with regard to the same for less value proposition?

Papillon, a popular retailer of chic women's clothing, segments its market according to consumer lifestyles. Papillon most likely uses ________ segmentation for segmenting its market.

Marketers often segment international markets according to the type and stability of government. In such instances, they segment markets based on ________.

Why are demographic factors the most popular bases for segmenting customer groups?

Which of the following is NOT a common variable used by both consumer and business marketers while segmenting markets?

A segment is less attractive if it ________.

Gilron Holidays runs a premium membership club that caters to customers whose annual salary exceeds $100,000. Members of this club are offered seasonal discounts on select luxury hotels in select cities worldwide. Gilron Holidays most likely follows a(n) ________ segmentation approach.

To the extent that a company can differentiate and position itself as providing superior customer value, it gains competitive advantage.

________ refers to how a company will create differentiated value for targeted segments and what positions it wants to occupy in those segments.

How does loyalty status enhance a company's understanding of its consumers?

What does a company focus on when using a concentrated marketing strategy?

What is differentiation?

Which of the following is true about the concentrated marketing strategy?

________ calls for dividing the market into regions, states, counties, cities, or even neighborhoods.

Orion Inc. markets luxury watches. It targets the wealthy global elite segment, regardless of their geographic location. Orion most likely uses ________ segmentation.