Exam 7: Sharpening the Focus: Target Marketing Strategies and Customer Relationship Management

Magazines targeted to people who compete in triathlons,those who enjoy cooking,and those who love knitting use ________ segmentation variables.

The ________ is the potential profit generated by a single customer's purchase of a firm's products over the customer's lifetime.

With an undifferentiated marketing strategy,one product is developed for each distinct customer group.

________ variables segment markets in terms of shared activities,interests,and opinions.

Many Generation X consumers view their homes as ________

Positioning strategies often try to create a ________ for a good or service,a distinct image that captures its character and benefits.

With CRM,a customer's lifetime value is ________.

A CRM strategy allows a company to ________.

Business-to-business markets can be segmented based on ________.

Why might a financial services firm implement a CRM strategy?

A new marketing buzzword is 'metrosexual.' What are some characteristics of someone who could be classified as a metrosexual? Explain the changes a local gym could make to appeal to metrosexuals.

A company would adopt an undifferentiated targeting strategy when there is so much evidence of the benefits of a differentiated strategy in order ________.

With mass customisation,a basic good is modified to meet the needs of individual customers.

Some beer drinkers choose their beer because of its great taste.

Marketers only consider income and not family structure,race or ethnic origin when segmenting markets.

Fisher & Paykel,the household appliance manufacturer,offers customers the option of adding coloured panels to its 'Elite' range of refrigerators,stoves and dishwashers to allow matching with consumers' kitchen décor.

You work for a travel agency.Business has been slow,and you have suggested some promotions targeted to specific market segments.What three psychographic segmentation variables would you recommend using and why?

You see a former classmate.This person is so excited to show you pictures of their new twin babies.The picture shows two babies each wearing identical outfits,except one outfit is pink and the other outfit is blue.Without being told,how can you tell the gender of these two babies? Explain your answer.

CRM firms focus on increasing their ________,not share of the market.

CRM stands for ________.