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

The over-55-year-old baby boomers share common needs with respect to entertainment,music and performers.When a music company decides to serve this group,the group is called a(n)________.

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

A company or store gains a(n)________ by differentiating its products and delivering more value.

When choosing a target marketing strategy,many factors need to be considered.Which of the following does your text NOT mention as important?

Which type of statement first states the product's membership in a category and then shows its point-of-difference from other members of the category?

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

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 ________.

A marketer focuses on several commonalities among all consumers.This marketer appears to be engaging in ________.

The Accor Hotel Group operates a number of hotel brands,each positioned at a different segment of the market.The luxury international hotel group trades as Sofitel;the mid-price,three-star hotel group trades as Novotel;budget-priced,two-star hotels trade as Ibis;the budget-priced,limited-service hotel group trades as Formula One;and finally an extended-stay hotel chain aimed primarily at the elderly trades as Hotelia.The Accor group is using which approach to segmentation?

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

Compare and contrast four targeting strategies.

In target marketing,the issue is not really who is targeted,but rather ________ and for ________.

Which of the segmentation strategies is most susceptible to changes in consumer market?

Unlike many other hotel groups which develop different service offerings for different market segments,the Four Seasons group has elected to focus its marketing efforts on the luxury hotel market.As a result,the company has been able to achieve operational efficiencies in production,distribution and promotion,all of which translates into higher rates of return.The Four Seasons segmentation approach is best described as ________.

Which of the following positioning strategies is most likely to be difficult to sustain in the long run?

When a market segment is large or profitable enough to serve,it is termed ________.

A Pet Supplies firm divides the pet market according to the owners' race,occupation,income and family life-cycle.What type of segmentation does it use?

Using ________,companies tailor their marketing programs to the needs and wants of narrowly defined geographic,demographic,psychographic,behaviour or benefit segments.

In evaluating different market segments,a firm must look at three factors: segment size and growth,segment structural attractiveness,and company objectives and resources.

The Blue Mountains Retreat Centre is open to people of all religious faiths and is a place people can go to unwind from the stressful rigors of daily life.Which of the following is an example of a psychographic variable the owner of the retreat could use in its marketing strategy?