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

A market segment with powerful suppliers controlling the prices is more attractive than a segment with less powerful suppliers.

Firms that manufacture seasonal products target their consumers primarily through ________ segmentation.

Marketing the same product to a huge customer base without any customization is referred to as ________.

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

________ marketing tailors brands and promotions to the needs and wants of specific cities,neighborhoods,and even stores.

Describe the process by which companies identify attractive market segments and choose a target marketing strategy.

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

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

A more-for-more market offering not only offers higher quality but also gives prestige to a buyer.

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.

Zista,a boutique that caters to the clothing needs of women,manufactures two different lines of fashion wear based on the purchasing power of its customers.One product line caters to the needs of affluent,middle-aged women,and the other line targets younger professionals and homemakers.Zista most likely segments the consumer market based on ________ variables.

Cian,an automobile manufacturer,offers a new car model with features comparable to that of another popular brand.However,the Cian model is priced lower than its competitor and includes a longer warranty.Cian is most likely following a more-for-the-same strategy.

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.

Companies with limited financial and personnel resources should most likely avoid concentrated or niche marketing until their earnings improve.

Briefly describe the characteristics of effective market segments.

Producers of popular beverages often partner with global music channels to target consumers through a variety of promotional events and advertisements.This approach to marketing is referred to as ________ segmentation.

Which of the following is true about local marketing?

Rad,a manufacturer of luxury watches,charges a higher price for its products than its competitors.Despite the high prices,the brand is popular among customers for its quality and service in comparison to cheaper alternatives available in the market.In this case,Rad offers a(n)________ value proposition.

When the size,purchasing power,and profiles of a market segment can be determined,the market segment is said to be ________.

________ factors are the most popular bases for segmenting customer groups.