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

Many marketing experts advocate ________ programs that allow companies to talk to individual customers and adjust elements of the marketing mix to satisfy the specific needs of each customer.

A new family just moved into the old house on the corner.Three generations of family members are sharing this big house.Different styles of music can be heard coming from the windows of this house.The neighbours can always tell who is enjoying their music.Explain demographics,and how the style of music being heard by the neighbours could be an indication as to which family member is enjoying their favourite recordings.

Select a product or service and explain how its marketer could calculate customer equity.

CRM firms focus on increasing their share of customers rather than share of market because ________.

Explain mass customisation and how Dell,the computer company,uses it to meet the needs of its customers.

Your company sells hair styling products and has identified metrosexual males as an appropriate market segment.Advise the company on the steps they should follow in devising its marketing mix.

Baby boomers ________.

Designing a product or service to meet a segment's needs and developing a competitive marketing mix is called positioning.

Why would a company adopt a differentiated targeting strategy when there are economies of scale benefits with an undifferentiated strategy?

The cosmetics giant L'Oreal has the resources to offer several product lines at a variety of prices.It targets the luxury market with their brand Helena Rubinstein,while less expensive offerings such as Elseve is targeted to large department stores and discounters.What targeting strategy are they pursuing?

Explain how marketers could use perceptual maps in developing their positioning strategies.

Which of the following is an example of a customer relationship management (CRM)programs?

________ data are useful in understanding why some people lead active lives,take regular vacations,and eat a healthy diet while others eat and drink to excess and prefer to sit and watch television.

Concentrated target marketing strategies are the same as customised marketing strategies.

A retailer targeting prospective brides and grooms between the ages of 21 and 40 is using ________ segmentation to define its target market.

Generation Y consumers are often hard to reach because ________.

The distinctive image created for a brand capturing its character and image is called the brand personality.

The VALS system is a crucial part of both geodemographic and behavioural segmentation.

What are two ways that the airline industry could benefit from the implementation of CRM systems?

When developing a positioning strategy,companies focus solely on their own capabilities and products.