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

The move toward individual marketing mirrors the trend in consumer ________.

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

Under what circumstances would local marketing likely be the most effective?

Consumers position products in their minds in order to simplify the buying process.

A product's position is the way the product is defined by the retailers who sell it to target markets.It is how the product is defined on important attributes-the place the product occupies in the retailers' minds relative to competing products.

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

International Luxury Gifts divides its markets into units of nations,regions and cities.International Luxury Gifts uses geographic segmentation.

Market ________ is the process of classifying customers into groups with different needs,characteristics or behaviour.

For decades,Ocean Spray cranberry jelly has been on thousands of Christmas tables globally.Ocean Spray is working hard to implement other strategies to encourage consumers to use the product all year round.Ocean Spray is seeking to move beyond the limited ________ segmentation strategy it used in the past.

MTV targets the world's teenagers,who have similar needs and buying behaviour even though they are located in different countries.This is called ________ 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.