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

For simplicity's sake,most marketers generally limit their segmentation analysis to one or a few variables.

Today,most companies have moved back toward mass marketing and are being choosier about the customers with whom they wish to build relationships.

Your company wants to move away from mass marketing and engage in customer-driven marketing.The four steps to take,in order,are market segmentation,marketing positioning,differentiation,and targeting.

Bob and Phyllis Cords own two retail stores,one in Madoc and one in Belleville.Alhough the towns are only 40 kilometres apart,the consumers at both stores are very different demographically.Bob and Phyllis alter the product offerings between both locations in an effort to cater to both demographic groups.This is an example of ________.

Nestle Canada launched a TV marketing campaign for its Aero chocolate bar that pokes fun at the differences between men and women.Why did Nestle use gender as a demographic segmentation variable?

A company or store gains a(n)________ by differentiating its products and delivering more value.

What is the following an example of? "To busy,mobile professionals who need to always be in the loop,BlackBerry is a wireless connectivity solution that gives you an easier,more reliable way to stay connected to data,people,and resources while on the go."

Bombay Gifts divides its markets into units of nations,regions,and cities.Bombay uses geographic segmentation.

Clusters of marketable groups of customers with similar likes,dislikes,lifestyles,and purchase behaviours can be identified by multivariable segmentation systems that merge and analyze geographic,demographic,lifestyle,and behavioural data.

Which positioning strategy offers consumers a "good deal" by offering equivalent-quality products or services at a lower price?

XYZ Computers Inc.,a business with limited resources,is a market nicher.How might XYZ benefit from this?

Because there is such variation among the economies of countries around the world,it is not practical to segment international markets on the basis of economic factors.

Fifty-five-year-old baby boomers share common needs in music and performers.When a music company decides to serve this group,the group is called a(n)________.

Most attempts to target children and minority groups provide ________ to target customers.

When practising ________,a company identifies the parts of the market it can serve best and most profitably.

The answer to the customer's question "Why should I buy your brand?" is found in the ________.

In what ways might a marketer engage in socially responsible target marketing?

Research about and planning for loyalty status as a segmentation approach is generally not useful or practical for most firms.

"Less-for-much-less" positioning involves meeting consumers' ________.

When a business market segment is large or profitable enough to serve,it is termed ________.