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

The low cost of setting up shop on the Internet makes it even more profitable to serve seemingly small niches.

Tim Hortons relies heavily on which group of users to sustain its existing sales base?

Bose promises "better sound through research." This is an example of _ .

Light users are often a small percentage of a company's market but account for a high percentage of total consumption.

Danko International is a multinational company that targets the BRICS countries (Brazil, Russia, India, China, and South Africa) because they're fast-growing developing economies and use to segment its world markets.

Why do international markets need to be segmented?

Not all companies that use income segmentation target the affluent.

Describe how marketers use multiple-segmenting bases to their advantage.

Companies must do much more than simply shout out their positions with slogans and taglines. They must differentiate their products in the minds of the consumers.

If men and women respond dissimilarly to the marketing efforts for a root beer-flavoured malt beverage, they are considered _ market segments.

Producers of popular beverages often partner with global music channels to target consumers through a variety of promotional events and advertisements. This approach to marketing is referred to as segmentation.

Company and brand positioning should be summed up in a .

Which of the following is an approach where firms target a whole market based on common consumer needs?

Companies today are moving away from target marketing and toward mass marketing.

Dividing buyers into groups based on their knowledge, attitudes, uses, or responses to a product is called segmentation.

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

When a company interacts one-on-one with large numbers of customers to create customer-unique value by designing products and services tailor-made to individual needs, it is engaging in .

Lilly's, a furniture retailer, sells low-end furniture and accent pieces that are targeted toward lower-income consumer groups. Lilly's most likely segments the consumer market based on variables.

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 .

The marketing manager of Refresh Inc., a leading producer of soft drinks, is considering a differentiated marketing strategy. An important consideration is weighing increased sales against _ _ before selecting this strategy.