Exam 4: Focusing Marketing Strategy With Segmentation and Positioning

The example for the seven-step approach (discussed in the text) uses apartment buildings in cities with large student populations as its broad product-market.

As shown in the discussion of the 7-step approach, determining dimensions may change over time.

If a company plans to sell its products to a market segment consisting of "outgoing personalities," this would NOT be a good market segment primarily because of which of the following criteria?

Watson's Bakery found five different market segments among customers for its bakery goods. When developing a market-oriented strategy, the marketing manager used a ____ approach, putting two target markets together and developing a single marketing mix that would meet the needs of the new larger segment.

A target marketer who uses two different marketing mix strategies to make two separate appeals to office tablet computer users and home tablet computer users is applying:

Computer-aided segmenting approaches eliminate the need for managerial judgment and intuition in selecting segmenting dimensions.

Marketing-oriented managers think of segmenting as a disaggregating process.

Strategy decisions pertaining to product features, packaging, product line assortment, and branding will be most affected by which target market dimension?

Having segmented its broad product-market, Blue Chip, Inc. feels that three segments are similar enough that-together-they can be treated as one large target market and offered the same marketing mix. Blue Chip, Inc. is following the ______________ approach.

Which of the following is LEAST likely to compete in the same generic market with the others?

A generic market definition includes

Which of the following is LEAST LIKELY to compete in the same generic market as the others?

By differentiating the marketing mix to do a better job meeting customers' needs, the firm builds a competitive advantage.

A large firm with ample resources wants to minimize the risk of "inviting" competitors to "chip away" at its target market(s). It has segmented its broad product-market and identified several homogeneous submarkets-each of which is large enough to offer attractive sales and profit potential. Which of the following approaches should the firm use?

How customers think about the various brands in a market can be graphically represented and tracked through _____.

The definition of a product-market includes a product type while the definition of a generic market does not include a product type.

A basic difference between a "generic market" and a "product-market" is:

A "generic market" is a market in which sellers offer substitute products which are so similar that customers see them as "all the same."

Segmenting, in contrast to combining:

In the seven-step approach, the basic comfort needs (heating and cooling, a good bed, a clean bathroom) and other needs like a telephone and safety/security are the qualifying needs, not the determining needs.