Exam 7: Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

With a(n) ________ marketing strategy, a firm goes after a large share of one or a few smaller niches.

The Jay Group hires better employees than its competition by conducting effective searches and multi-tiered interviews. The company also provides high quality training to its employees, an aspect often neglected by competitors. The Jay Group is most likely to gain a strong competitive advantage through which type of differentiation?

While Jenkins Stationeries was selling branded stationery at premium prices, Pembroke Stationeries, a store across the street, was selling the same branded stationery at discount prices. Which of the following value propositions best describes Pembroke's product positioning?

When segmenting by user status, markets are segmented into light, medium, and heavy product users.

________ marketing tailors brands and promotions to the needs and wants of regional customer groups, such as cities, neighborhoods, and even specific stores.

Distinguish between undifferentiated and differentiated marketing strategies.

________ marketing is more suited for products that vary in design.

What is product position? What functions do perceptual positioning maps serve?

Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods. This is an example of ________.

Teen Mania Inc., a company marketing adventure sports merchandise for teenagers, targets the world's teenagers, who have similar needs and buying behavior even though they are located in different countries. Which market segmentation is evident here?

Marketers who use ________ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals.

Ferrari sports cars claim superior quality, performance, and style. Ferrari provides "perfection" at a premium price to keep its brand image intact. Which type of value proposition does Ferrari most likely position its products with?

Different soft drinks target different personalities. This is an example of ________ segmentation.

All of the following are ways a company can differentiate itself or its product EXCEPT ________.

Briefly explain local and individual marketing.

Sanguine Services is a small company that uses a marketing strategy in which its limited resources are employed to target a large share of two small market segments. Sanguine most likely uses which of the following marketing strategies?

A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each is known as ________.

Kia Motors offers a new car model with the same features as other cars in the same segment. However, Kia's model is priced higher than its two main competitors. Kia is following a more-for-less positioning strategy.

Gender segmentation has long been used in clothing, cosmetics, toiletries, and magazines.

Which of the following refers to a behavioral segmentation variable that involves segmenting markets into nonusers, ex-users, potential users, first-time users, and regular users of a product?