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

Chronos Inc. designs and markets different brands of cycling watches. Each brand has a single unique feature: the Chronos Cosmos has a heart rate monitor, the Chronos Acumen is designed for older cyclists who prefer a large display, and the Chronos Aegis has a GPS function. Which of the following is evident here?

Anchor Tractors focuses on selling its farm equipment in North America and Europe. It has not yet considered expanding into the Middle East. Which factor is likely most important in this decision regarding expansion?

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.

Mass marketing involves identifying market segments, selecting one or more of them, and developing products and marketing programs tailored to each.

Ferrari sports cars claim superior quality, performance, and style. Ferrari provides "perfection" at a premium price to keep its brand image intact. Which type of value proposition does Ferrari most likely position its products with?

________ positioning involves meeting consumers' lower performance or quality requirements at a much lower price.

When a company customizes its merchandise store by store to meet shopper needs, it is practicing ________ marketing.

________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.

Malcolm Sanders, a graduate student from Boston, makes customized snowboards for local snowboarding enthusiasts. The demand for snowboards peaks during the winter months, a busy time for Malcolm. He advertises more aggressively and sells most of his snowboards around this time. Which market segmentation approach does Malcolm most likely use?

Marketers usually limit their segmentation analysis to only one major variable.

Market segments that can be effectively reached and served are ________.

Which of the following is a drawback of local marketing?

Kia Motors offers a new car model with the same features as other cars in the same segment. However, Kia's model is priced higher than its two main competitors. Kia is following a more-for-less positioning strategy.

What are the major structural factors affecting long-run segment attractiveness?

Venus Inc., a company designing and marketing branded diamond jewelry, targets wealthy consumers with similar needs and buying behaviors, even though the consumers are located in different countries. This is an example of ________ segmentation.

Through market targeting, companies divide large, diverse markets into smaller segments that can be reached more efficiently and effectively with products and services that match their unique needs.

________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Less-for-much-less positioning involves meeting consumers' lower performance or quality requirements at a much lower price.

Sanguine Services is a small company that uses a marketing strategy in which its limited resources are employed to target a large share of two small market segments. Sanguine most likely uses which of the following marketing strategies?

Which of the following refers to a cultural factor in the context of segmenting international markets?