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

What competitive positioning can attack a more-for-more strategy by introducing a brand offering with comparable quality at a lower price?

Even though several options are available at any one time,there ________ to segment a market.

Which of the following is the most popular method for segmenting markets?

An organic farmer has identified three distinct groups who might be interested in his products: vegetarians,people who are concerned about chemicals in their foods,and people who consider themselves innovators and trendsetters.These three groups are examples of ________.

Which of the segmenting strategies carries higher-than-average risks in consumer markets?

When firms use symbols,colors,or characters to convey their personalities,they are using ________ differentiation.

Caterpillar's success in the construction equipment industry is based on superior channels.Its dealers worldwide are renowned for their first-rate service.What differentiation strategy is being used?

Mass marketing is becoming a marketing principle for the 21?? century.

Charles & Keith,a fashion footwear boutique from Singapore,markets itself as not only a fashion specialist but also a provider of a new lifestyle.This is an example of ________.

Compare and contrast four major segmenting strategies.

Nike targets the world's teenagers,who have similar needs and buying behavior even though they are located in different countries.This is called ________ segmentation.

Why do international markets need to be segmented?

Big Asia Pte Ltd owns two retail stores,one in Singapore and one in Indonesia.The consumers at both stores are very different demographically.Big Asia alters the product offerings between both locations in an effort to cater to both demographic groups.This is an example of ________.

ByWay Pte Ltd chose a differentiated marketing strategy.The company had to weigh ________ against ________ when selecting this strategy.

Successful niche marketing is most dependent on a firm's ________ and its ________.

Consumers position products in their minds in order to simplify the buying process.

Refer to the scenario below to answer the following questions. Zhang Lei began making wooden writing utensils as a hobby until Wang Hui recognized Zhang's talent. Wang immediately ordered 250 pens and pencils of various styles to be displayed in his shop's showcase. Within three months, the writing utensils were a hit! Zhang had never thought of marketing his talent but Wang's enthusiasm and the recent sales were enough to change his mind. With limited resources, Zhang contacted three additional specialty shops within 100 km. He explained his manufacturing processes and engraving options to each. All three shops' owners placed a trial order. Within two months, just prior to the holiday season, each shop owner placed an additional order. Zhang was ecstatic! "I figured business would slow down after that," Zhang stated, "but in February I was contacted by Penguin Pens Distributors. At that point, I had to make a huge decision about how far I wanted to go with this business." Penguin Pens Distributors provided products for school fundraisers in the Beijing and Shanghai area. Zhang was offered a two-year contract and immediate inclusion in Penguin's promotional flyer. Zhang 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!" Zhang added. "I couldn't grow out of control. I was already working to capacity." Zhang decided to place his major focus on the large contract with Penguin. However, to avoid placing his total emphasis with one customer, Zhang 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," Zhang explained. "I had to hire three full-time employees to work the line while I managed the customer orders and purchased materials." Zhang paused. "But I can't take the Penguin 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,how does Zhang Lei segment his market?

Volvo consistently promotes its safety.This serves as its ______________.

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

When Burger King targets children,teens,adults,and seniors with different ads and media,it is practicing ________ segmentation.