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

LaGrange Florists segments markets into groups of nonusers,potential users,and regular users of its flowers and services.This firm uses usage rate as the segmentation approach.

The markets you have chosen to serve in four western states can be effectively reached and served.You would tell the marketing manager that these segments are ________.

When Walmart customizes its merchandise store by store to meet shoppers' needs,it is practicing ________.

Marketers must be careful to guard against stereotypes when using age and life-cycle segmentation.

The same-for-less positioning involves meeting consumers' lower performance or quality requirements at a much lower price.

Neiman Marcus claims superior quality,performance,and style.The owners provide the most upscale products and services and charge a higher price to cover the higher costs.What type of positioning does Neiman Marcus use?

Shampoo marketers segment buyers as light,medium,or heavy product users.This is an example of ________ segmentation.

Marketers of financial services and travel use which of the following types of segmentation?

The division of buyers into groups based on their knowledge,attitudes,uses,or responses to a product is called ________ segmentation.

The market segments your company is targeting are conceptually distinguishable and respond distinctively to various marketing mix elements and programs.Therefore,these segments are ________.

Shark Enterprises practices a marketing strategy where its limited resources are used to pursue a large share of two small niches.Shark Enterprises practices which of the following strategies?

Describe the possible value propositions on which a company might position its products.

When it first opened for business,Home Depot claimed to offer better products at lower prices.This hard-to-sustain value proposition is called ________.

When Burger King targets children,teens,adults,and seniors with different ads and media,it is practicing ________ segmentation.

Shopping for the Rich and Famous is a buying service that helps wealthy clients find the best buys in exclusive clothing,high-end cars,travel,and financial services.This firm would use income segmentation.

Markets can be segmented into groups of nonusers,ex-users,potential users,first-time users,and regular users of a product.This method of segmentation is called ________.

You have just created the "perfect" ad.It communicates the full mix of benefits upon which the brand is differentiated and positioned.This full positioning of the brand is called ________.

Compare and contrast local and individual marketing.Describe the advent of mass customization.

Explain with examples how marketers segment markets based on occasions,benefits sought,user status,usage rate,and loyalty status.

A product's position is the way the product is defined by retailers on important attributes-the place the product occupies in retailers' minds relative to competing products.