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

Companies adopting a CRM approach do not consider the financial value of customer relationships over their lifetime when measuring success.

The market segment towards which an organisation directs its marketing efforts is referred to as its ________.

A company that develops one or more products for each of several customer groups with different product needs is using a/n ________ targeting strategy.

Using a CRM approach,customers must be ________ and communications ________ accordingly.

Explain the philosophy of customer relationship management (CRM).Provide an example of one company that has implemented this style of business.

The second step in developing a positioning strategy is to ________.

People who are regular visitors to SciFi.

Companies that successfully practice ________ have different goals,use different measures of success,and look at customers in some different ways.

'What's Happening in My World' is a newspaper designed to keep school children informed about what is happening in their country and their world.

Modifying a product's position in response to marketplace changes is called ________.

Discuss the steps involved in customer relationship management (CRM)and explain why marketers would adopt CRM.

________ means developing a marketing strategy aimed at influencing how a particular market segment perceives a good or service in comparison to the competition.

Mass marketing is the most efficient method of marketing for marketers but the best strategy from a customer's perspective is one-to-one marketing.

The lifetime value of a customer is the total profit generated by the revenue stream produced by that customer.

A perceptual map is used to ________.

Some people want healthy cereal that will help them lose weight or possibly prevent certain kinds of cancer.

The group of consumers born between 1965 and 1976 are called ________.

Perceptual maps ________.

The ________ is of interest to marketers because it determines which groups have the greatest buying power.

When brands are well known and have distinctive images and consumer groups have distinct product needs,adopting a concentrated target marketing strategy is most appropriate.