Question 1

A firm that implements a differentiated marketing program will most likely have a complex organizational structure and diluted benefits of scale.

Accepted Answer

A) True 
 B)False  True

Question 2

Mass marketers such as Target and Walmart often ignore market segment differences and target the whole market with one offer.What is this approach to targeting?

Accepted Answer

A)  niche marketing 
B)  differentiated marketing 
C)  concentrated marketing 
D)  undifferentiated marketing 
A)  niche marketing 
B)  differentiated marketing 
C)  concentrated marketing 
D)  undifferentiated marketing D

Question 3

A firm that uses a product specialization strategy would most likely ________.

Accepted Answer

A)  focus on one product that is tailored to one market segment 
B)  develop many products for one market segment 
C)  focus on one product that is tailored to all market segments 
D)  develop many products for all market segments 
A)  focus on one product that is tailored to one market segment 
B)  develop many products for one market segment 
C)  focus on one product that is tailored to all market segments 
D)  develop many products for all market segments C

Question 4

Which type of marketing approach requires a firm to customize its marketing mix for various target market segments?

Accepted Answer

A)  specialty marketing 
B)  concentrated marketing 
C)  differentiated marketing 
D)  undifferentiated marketing 
A)  specialty marketing 
B)  concentrated marketing 
C)  differentiated marketing 
D)  undifferentiated marketing

Question 5

What is the first step in the process of selecting a target market?

Accepted Answer

A)  positioning segments in a market portfolio 
B)  determining competitive superiority 
C)  searching for competitive advantages 
D)  evaluating segment attractiveness 
A)  positioning segments in a market portfolio 
B)  determining competitive superiority 
C)  searching for competitive advantages 
D)  evaluating segment attractiveness

Question 6

A company would most likely adopt an undifferentiated targeting strategy in order to ________.

Accepted Answer

A)  remove the need for clear positioning 
B)  reduce production and advertising costs 
C)  more efficiently focus on its CRM strategy 
D)  compete successfully in a highly competitive market 
A)  remove the need for clear positioning 
B)  reduce production and advertising costs 
C)  more efficiently focus on its CRM strategy 
D)  compete successfully in a highly competitive market

Question 7

Which of the following will most likely occur if a firm shifts from an undifferentiated marketing program to a differentiated marketing program?

Accepted Answer

A)  decreasing organizational complexity 
B)  increasing benefits of scale 
C)  decreasing product portfolio 
D)  increasing per-unit costs 
A)  decreasing organizational complexity 
B)  increasing benefits of scale 
C)  decreasing product portfolio 
D)  increasing per-unit costs

Question 8

An undifferentiated marketing strategy will most likely be successful if the ________.

Accepted Answer

A)  product or service has wide appeal 
B)  market has many strong competitors 
C)  product is sold primarily to businesses 
D)  market segment demands superior value 
A)  product or service has wide appeal 
B)  market has many strong competitors 
C)  product is sold primarily to businesses 
D)  market segment demands superior value

Question 9

Coca-Cola has shifted to an undifferentiated marketing approach by offering sugar-free drinks,caffeine-free drinks,and family-size bottles.

Accepted Answer

A) True 
 B)False

Question 10

Identifying target markets is similar to conducting a portfolio analysis.

Accepted Answer

A) True 
 B)False

Question 11

Fairhaven Foods focuses its product development and marketing strategies on diabetics who need a sugar-free diet.The firm offers an extensive number of sugar-free cereals,snacks,and cookies for diabetics.Which marketing approach is the firm most likely using?

Accepted Answer

A)  segment specialization 
B)  selected specialization 
C)  product specialization 
D)  full market coverage 
A)  segment specialization 
B)  selected specialization 
C)  product specialization 
D)  full market coverage

Question 12

Target market selection should most likely NOT be based on ________.

Accepted Answer

A)  segment rivalries 
B)  strategic objectives 
C)  core competences 
D)  economies of scope 
A)  segment rivalries 
B)  strategic objectives 
C)  core competences 
D)  economies of scope

Question 13

What are the two primary marketing strategies? What are the advantages and disadvantages of each approach?

Accepted Answer

The two basic strategies a company can a

Question 14

Which type of differentiated marketing involves focusing on one market segment with one product?

Accepted Answer

A)  segment specialization 
B)  selected specialization 
C)  product specialization 
D)  full market coverage 
A)  segment specialization 
B)  selected specialization 
C)  product specialization 
D)  full market coverage

Exam 26: Note : Targeting

A firm that implements a differentiated marketing program will most likely have a complex organizational structure and diluted benefits of scale.

Mass marketers such as Target and Walmart often ignore market segment differences and target the whole market with one offer.What is this approach to targeting?

A firm that uses a product specialization strategy would most likely ________.

Which type of marketing approach requires a firm to customize its marketing mix for various target market segments?

What is the first step in the process of selecting a target market?

A company would most likely adopt an undifferentiated targeting strategy in order to ________.

Which of the following will most likely occur if a firm shifts from an undifferentiated marketing program to a differentiated marketing program?

An undifferentiated marketing strategy will most likely be successful if the ________.

Coca-Cola has shifted to an undifferentiated marketing approach by offering sugar-free drinks,caffeine-free drinks,and family-size bottles.

Identifying target markets is similar to conducting a portfolio analysis.

Fairhaven Foods focuses its product development and marketing strategies on diabetics who need a sugar-free diet.The firm offers an extensive number of sugar-free cereals,snacks,and cookies for diabetics.Which marketing approach is the firm most likely using?

Target market selection should most likely NOT be based on ________.

What are the two primary marketing strategies? What are the advantages and disadvantages of each approach?

Which type of differentiated marketing involves focusing on one market segment with one product?

Overview of Marketing Strategy the Strategic Marketing Process

Situation Assessment - the External Environment

Situation Assessment - the Company

Strategy Formation

Implementation

Planning,assessment,and Adjustment

Note : Market Definition

Note : Context: Pest Analysis

Note : Customer Assessment - Trends and Insights

Note : Consumer and Organizational Buyer Behavior

Note : Competitor Analysis - Competitive Intelligence

Note : Company Assessment - Missions and Visions

Note : Company Assessment - the Value Chain

Note : Industry Analysis

Note : the Product Life Cycle

Note : Experience Curve Effects on Cost Reduction

Note : Economies and Diseconomies of Scale

Note : Economies of Scope-Synergies and Virtuous Circles

Note : Market-Share Effects

Note : Scenario Analysis

Note : the Marketing Concept

Note : What Is a Marketing Strategy

Note : Generic Strategies - Advantage and Scope

Note : Generic Strategies - the Value Map

Note : Generic Strategies - Product-Market Growth Strategies

Note : Specific Marketing Strategies

Note : Market Segmentation

Note : Loyalty-Based Marketing,customer Acquisition,and Customer Retention

Note : Customer Lifetime Value

Note : Competitive Advantages

Note : Swot Analysis

Note : Positioning

Note : Customer-Oriented Market Research

Note : Brands and Branding

Note : Products - New Product Development

Note : Products - Innovations

Note : Products - Product Portfolios

Note : Pricing Strategies

Note : Promotion and People - Integrated Marketing Communications

Note : Place - Distribution

Note : Budgets,forecasts,and Objectives

Note : Staircase Analysis

Note : Assessment and Adjustment

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