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

Your current assignment at York Foods is to find the major benefits people look for in product classes,the kinds of people who look for each benefit,and the major brands that deliver each benefit.What is this segmentation method called?

At one time Miller Beer was known as the "champagne of bottled beer." Unfortunately,Miller drinkers did not drink much beer.To increase sales,Miller was repositioned to attract the members of the middle working class.This segmentation approach is ________.

You have just created the "perfect" ad.It communicates the full mix of benefits upon which the brand is differentiated and positioned.This full positioning of the brand is called ________.

The markets you have chosen to serve in four western states can be effectively reached and served.You would tell the marketing manager that these segments are ________.

What factors may impact segment attractiveness?

When might be the best time for a marketer to use geographic segmentation?

Explain how companies identify attractive market segments and choose a target marketing strategy.

Developing a strong position within several segments creates more total sales than ________ marketing across all segments.

Why do businesses segment their markets?

When a company interacts one-on-one with large numbers of customers to create customer-unique value by designing products and services tailor-made to individual needs,it is following ________.

A company can detect which brands are most ________ its own by studying its less loyal buyers.

Global Food Incorporated has decided to localize its products and services to meet local market demands.It would be wise to use ________ segmentation.

Markets can be segmented into groups of nonusers,ex-users,potential users,first-time users,and regular users of a product.This method of segmentation is called ________.

In target marketing,the issue is not really who is targeted but,rather,________ and ________.

Ad man Rosser Reeves believes that firms should develop a USP for each brand and stick to it.What does USP stand for?

Using concentrated marketing,the marketer goes after a ________ share of ________.

Ford Motor Company emphasizes "Quality First-Ford Tough" in its truck products.In doing so,the company has developed a differentiation strategy based on ________.

Why do marketers segment the market?

The Jay Group hires better employees than the competition by conducting lengthy searches and interviews.Management also trains employees much better than competitors do.The Jay Group has gained a strong competitive advantage through which type of differentiation?

Why might demographic segmentation be the most common type of segmentation?