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

Consumers who show their allegiance to brands, stores, or companies help marketers to segment consumers by their ________.

A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each is known as ________.

Which of the following refers to a behavioral segmentation variable that involves segmenting markets into nonusers, ex-users, potential users, first-time users, and regular users of a product?

A ________ consists of a set of buyers who share common needs or characteristics that the company decides to serve.

What does a company focus on when using an undifferentiated marketing strategy?

Using ________ segmentation, marketers form segments of consumers who have similar needs and buying behaviors even though they are located in different countries.

Which of the following is true about multivariable segmentation systems?

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

Briefly explain mass customization.

When segmenting by user status, markets are segmented into light, medium, and heavy product users.

Teen Mania Inc., a company marketing adventure sports merchandise for teenagers, targets the world's teenagers, who have similar needs and buying behavior even though they are located in different countries. Which market segmentation is evident here?

Gilron Holidays runs a premium membership club that caters to customers whose annual salary exceeds $100,000. Members of this club are offered seasonal discounts at select luxury hotels in select cities worldwide. Gilron Holidays most likely follows a(n) ________ segmentation approach.

________ refers to how a company will create differentiated value for targeted segments and what positions it wants to occupy in those segments.

A product position is the way a product is defined by consumers on important attributes.

________ is the process by which firms interact one-to-one with masses of customers to design products and services tailor-made to individual needs.

________ segmentation divides buyers into different segments based on social class, lifestyle, or personality characteristics.

________ requires finding the major advantages people look for in a product class, the kinds of people who look for each positive aspect of a product, and the major brands that deliver it.

________ marketing is more suited for products that vary in design.

Jean Malone, a market researcher, recently found that most people in Bradburg County purchase automobiles with predominantly functional designs and prefer darker colors. Which of the following marketing strategies should Jean most likely recommend to an automobile dealer interested in opening a dealership in Bradburg County?

"To busy multitaskers who need help remembering things, Evernote is a digital content management application that makes it easy to capture and remember moments and ideas from your everyday life using your computer, phone, tablet, and the Web." This is an example of a(n) ________.