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

If Ruben interacted one-to-one with his customers to design his products and services according to individual needs, he would be practicing ________.

Market targeting is ________.

A market segment that is large enough or profitable enough to serve is ________.

The full mix of benefits on which a brand is differentiated and positioned is known as the brand's ________.

Calypso Motors recently rolled out its Proteus hatchback. Proteus combines the attractiveness of a luxury car with the excellent agility of a sports car. Calypso Motors is confident that Proteus will appeal to both sports car enthusiasts as well as the luxury segment. Which of the following types of market segmentation is evident here?

A segment is less attractive if it ________.

Explain the four major steps in designing a customer-driven marketing strategy.

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

Companies find it as easy to come up with a good positioning strategy as to execute it.

With technology advances making it simple to contact many customers at once, companies have moved toward mass marketing over target marketing.

When it first opened stores across the United States, Bateman's, an office supply chain store, had the best product selection, the best service, and the lowest prices compared to other office supply chain stores. As a result, Bateman's captured a significant chunk of the market in the short run. Which of the following positioning strategies did Bateman's most likely use?

Which of the following marketing strategies is most suitable for smaller firms with limited resources?

Harvey's Bookstore is a popular online bookstore that has differentiated itself through smooth-functioning delivery networks. This is an example of ________ differentiation.

________ is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations.

Why do companies opt for market segmentation?

Apex describes its clothing line as, "Elegance and attitude, now as one. For the daily office-goer, who takes pride in what he or she wears everyday, Apex makes sure you get noticed." This exemplifies a ________.

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.

The relative power of buyers affects segment attractiveness.

Explain the different segmentation variables used in segmenting consumer markets.

Why must marketers guard against stereotypes when using age and life-cycle segmentation?