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Exam 7: Segmentation, Targeting, and Positioning

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Question 21

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BMW allows customers to design their own vehicle from a set of options at BMW's Web site. What is this called?

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This is ma...

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Question 22

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Imagine that you are presenting a workshop on Requirements for Effective Segmentation. Briefly describe the five traits of market segments that will help your audience understand your topic.

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The size, purchasing power, and profiles...

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Question 23

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When Pacific Fisheries groups its customers as countries by regions such as Asia, Australia, or New Zealand, it is using which segmenting base?

To evaluate the different market segments your company is serving, you would look at which of the following factors?

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

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

What assumption about consumers is made by a marketer using intermarket segmentation?

In which step of target marketing is the marketing mix created in detail?

When a company chooses a target marketing strategy, its choices are influenced by factors related to company resources, the degree of product variability, and the product's life-cycle stage.

When it first opened for business, Home Depot claimed to offer better products at lower prices. This hard-to-sustain value proposition is called ________.

When Kia offers a new model of car with the same features as a comparable Toyota or Ford and provides a longer warranty, Kia is following a more-for-less strategy.

For market segments to be useful they must be measurable, accessible, substantial, differentiable, and actionable.

Half of a marketer's consumers buy a product because it is "in style"; the other half buy the product because of its superior functionality. What is this type of segmentation called?

A company or market offer can be differentiated along the lines of product, image, services, channels, or ________.

Most market targeting draws no criticism because it ________ customers.

Bob and Phyllis Cords own two retail stores, one in Nanaimo and one in Victoria. Though the cities are only 60 kilometers 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 ________.

Mass customization has made relationships with customers ________.

Which type of statement first states the product's membership in a category and then shows its point-of-difference from other members of the category?

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

Purrsonals.com calls itself "the cat lover's social network." Which targeting approach best describes the site's approach?