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

An Irish company that manufactures umbrellas and ponchos primarily targeting consumers during the winter months is using ________ segmentation.

The winning value proposition would be to offer ________.

Which of the following is a disadvantage of using a differentiated marketing strategy?

Kinger Auto specializes in selling low-quality used vehicles that are priced a good deal lower than other used cars. Which of the following value propositions is evident here?

When using a niche marketing strategy, a firm goes after a large share of one or a few smaller segments.

Marketers often segment international markets according to the type and stability of government. In such instances, they segment markets based on ________.

Define psychographic segmentation.

When order requests come in, the designers of Titus Furniture often go to a client's location to note their requirements, budget, and expected date of delivery. In this way, Titus Furniture is successful in tailor-making products for its customers. This is an example of ________.

How does loyalty status enhance a company's understanding of its consumers?

Pierre's Mart, a grocery store in New Orleans, Louisiana, offers less merchandise selection and fairly low levels of service. Despite the lackluster service and limited selection of merchandise, customers still flock to Pierre's because it charges rock-bottom prices. Pierre's Mart most likely uses the ________ positioning.

What does a company focus on when using a concentrated marketing strategy?

Pacific Fisheries divides its customers into different regional units, such as Asia, Australia, and the Americas. This is an example of ________ segmentation.

________ marketing tailors brands and promotions to the needs and wants of regional customer groups, such as cities, neighborhoods, and even specific stores.

Using an undifferentiated marketing strategy, a firm might decide to target several market segments and designs separate offers for each.

Which of the following is LEAST relevant when a firm evaluates different market segments?

While Jenkins Stationeries was selling branded stationery at premium prices, Pembroke Stationeries, a store across the street, was selling the same branded stationery at discount prices. Which of the following value propositions best describes Pembroke's product positioning?

________ show(s) consumer perceptions of a company's brands versus competing products on important buying dimensions.

________ refers to a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.

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

With a(n) ________ marketing strategy, a firm goes after a large share of one or a few smaller niches.