Exam 6: Customer-Driven Marketing Strategy: Creating Value for Target Customers

Argonaut Food Stores hires better-skilled employees than the competition by conducting lengthy searches and interviews.Management also trains employees much better than competitors.Argonaut has gained a strong competitive advantage through which type of differentiation?

Explain the four major segmentation variables for consumer markets.

Ad man Rosser Reeves believed that firms should develop a USP for each brand and stick to it.What does USP stand for?

Your company wants to move away from mass marketing and engage in customer-driven marketing.The four steps to take,in order,are: market segmentation,market positioning,differentiation,and targeting.

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

Which type of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage,expertise,and performance?

Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies.

When ProFem Inc.caters to clothing,cosmetics,and toiletries markets for women,it is most likely using which type of segmentation?

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

Your firm has decided to localize its products and services to meet local market demands.A good approach to use would be ________ segmentation.

Superior Auto Sales,a chain of high-end used car dealerships,wants to sum up the company's standing and brand equity in a formal way.Superior's management should use a ________.

Many firms make an effort to identify smaller,better-defined target groups by using ________.

When firms use symbols,colors,or characters to convey their personalities,they are using ________ differentiation.

A more-for-more market offering not only offers higher quality,it also gives prestige to the buyer.

Through ________,brands can be differentiated on features,performance,or style and design.

A segment is less attractive when ________.

As Cruise Ships International currently has limited financial and personnel resources,it should avoid concentrated or niche marketing until resources are again substantial.

Which difficult-to-sustain positioning strategy attempts to deliver the "best-of-both?"

Pediacertain Pet Supplies divides the pet market according to the owners' race,occupation,income,and family life cycle.What type of segmentation is Pediacertain using?

Demographic segmentation uses different marketing approaches for different time periods of people's lives and different family situations.