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

A public relations firm tailors its advertising and promotional services according to the needs and preferences of specific customers. This exemplifies ________.

Which of the following marketing strategies is most suitable for smaller firms with limited resources?

Jean Malone, a market researcher, recently found that most people in Bradburg County purchase automobiles with predominantly functional designs and prefer darker colors. Which of the following marketing strategies should Jean most likely recommend to an automobile dealer interested in opening a dealership in Bradburg County?

Even when competing offers look the same, buyers may perceive a difference based on ________ differentiation.

Through ________ differentiation, brands can be differentiated on features, performance, or style and design.

________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

________ calls for dividing the market into regions, states, counties, cities, or even neighborhoods.

________ refers to a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.

Which of the following is NOT a benefit of using multivariable segmentation systems?

Consumers who show their allegiance to brands, stores, or companies help marketers to segment consumers by their ________.

Individual marketing is also known as one-to-one marketing, mass customization, and markets-of-one marketing.

________ positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs.

GamaPix makes point-and-shoot cameras and handycams for amateur photographers and hobbyists. It also has a separate line of cameras dedicated to professional photographers. Additionally, it designs separate offers for each segment. Which of the following marketing strategies does GamaPix most likely use in this instance?

Define psychographic segmentation.

Calypso Motors recently rolled out its Proteus hatchback. Proteus combines the attractiveness of a luxury car with the excellent agility of a sports car. Calypso Motors is confident that Proteus will appeal to both sports car enthusiasts as well as the luxury segment. Which of the following types of market segmentation is evident here?

Pacific Fisheries divides its customers into different regional units, such as Asia, Australia, and the Americas. This is an example of ________ segmentation.

Using an undifferentiated marketing strategy, a firm might decide to target several market segments and designs separate offers for each.

________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.

Bailey's Burgers promotes the Bailey's Jumbo Burger as a fun snack for teens and young adults. In this instance, Bailey's Burgers is practicing ________ segmentation.

Benefit segmentation requires finding the major benefits people look for in a product class, the kinds of people who look for each benefit, and the major brands that deliver each benefit.