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

In the context of behavioral segmentation, markets segmented by ________ can be categorized into light, medium, and heavy product users.

Market targeting can bring up concerns about privacy and abuse in all of the following ways EXCEPT ________.

Several structural factors affect long-run segment attractiveness. These include all of the following EXCEPT ________.

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

When an effective program can be designed for attracting and serving a particular segment, the segment is best described as ________.

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

While there may be many differences between brands, not all are meaningful or relevant to consumers. Which of the following is NOT a criterion for establishing the value of a difference to promote?

When marketers at Fair & Leigh Inc. selected the Millennials, a demographic group that includes many college students, as an untapped group of potential customers for their new line of products, they were engaging in ________.

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

Marketers who use ________ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals.

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

Companies know they cannot appeal to all buyers in the marketplace, or at least not in the same way. Reasons for this include all of the following EXCEPT ________.

Niche marketing involves tailoring brands and promotions to the needs and wants of local customer groups-cities, neighborhoods, and even specific stores.

A company will always choose the largest and fastest-growing segments as the most attractive for it to enter.

Even when competing offers look the same, buyers may perceive a difference based on ________ differentiation.

When competitors use differentiated marketing to focus on the customer's needs, a firm should use undifferentiated marketing to compete with them.

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

Refer to the scenario below to answer the following question(s). Ruben Delgado was making wooden pens and pencils, which had unique engravings, as a hobby until Simon Yoder recognized Ruben's talent. Simon 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 students! Ruben Delgado had never thought of marketing his talent, but Simon's enthusiasm and the recent sales were enough to change his mind. With limited resources, Ruben contacted three additional specialty shops within 100 miles that 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. Ruben was ecstatic! "I figured business would slow down after that," Ruben 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. Ruben was offered a two-year contract and immediate inclusion in Elmore's promotional flyer. Ruben Delgado 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," Ruben added. He decided to place his major focus on the large contract with Elmore. However, to avoid placing his total emphasis with one customer, Ruben 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," Ruben explained. "I had to hire three full-time employees to work the line while I managed the customer orders and purchased materials." Ruben 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 marketing his wooden pens and pencils to specialty-shop customers, Ruben was most likely using ________ marketing.

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.

Distinguish between undifferentiated and differentiated marketing strategies.