Exam 8: Customer-Driven Marketing Strategy: Creating Value for Target Customers

Explain the four major segmenting variables for consumer markets.

La Grange Florists segments markets into groups of nonusers,ex-users,potential users,first-time users,and regular users of its flowers and services.This firm uses usage rate as its segmentation approach.

Walmart uses more than 200 finely tuned planograms (shelf plans)to match soup assortments to each store's demand patterns.

Which type of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage,expertise,and performance?

By going after the whole market instead of segments,companies can deliver just the right value proposition to each segment served and capture more value in return.

To the extent that a company can differentiate and position itself as providing superior customer value,it gains competitive advantage.

When Johnson & Johnson focuses on cosmetics and toiletries markets,it is most likely using ____________ segmentation.

Why must marketers guard against stereotypes when using age and life-cycle segmentation?

Neiman Marcus claims superior quality,performance,and style.The owners provide the most upscale products and services and charge a higher price to cover the higher costs.What type of positioning does Neiman Marcus use?

When an effective program can be designed for attracting and serving a chosen segment,the segment is best described as ________.

Because Cruise Ships International currently has limited financial and personnel resources,it should avoid concentrated or niche marketing until resources are again substantial.

When Burger King targets children,teens,adults,and seniors with different ads and media,it is practising ________ segmentation.

Segmenting voters as either conservatives or liberals is an example of ________.

________ tailors brands and promotions to the needs and wants of specific cities,neighbourhoods,and even stores.

Which of the following statements illustrates why stereotypes should be avoided when using age and life cycle segmentation?

When New Port Shipping uses segmented marketing,it targets several segments and designs separate offers for each one.This approach is called ________ marketing

When competitors use differentiated or concentrated marketing,________ marketing can be disastrous.

_________segmentation focuses on when consumers get the idea to buy,when they actually make their purchase,or when they use the purchased item.

Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies.

A product's position is the way the product is defined by the retailers who sell it to target markets.It is how it is defined on important attributes-the place the product occupies in the retailers' minds relative to competing products.