Exam 7: Customer-Driven Marketing Strategy: Creating Value for Target Customers

What are the four steps,in order,to designing a customer- driven marketing strategy?

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

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.

When Positive Image,Inc.caters to clothing,cosmetics,and toiletries markets,it most likely uses which type of segmentation?

LaGrange 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.

It is considered socially irresponsible when the marketing of adult products spills over into the segment.

Marketers of automobiles,financial services,and travel are most likely to use which of the following types of segmentation?

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 .

Refer to the scenario below to answer the following questions. Herb Marks was making wooden writing utensils as a hobby until Mel Yoder recognized Herb's talent.Mel immediately ordered 250 pens and pencils of various styles to be displayed in his shop's showcase.Within three months,the writing utensils were a hit! Herb Marks had never thought of marketing his talent,but Mel's enthusiasm and the recent sales were enough to change his mind. With limited resources,Herb contacted three additional specialty shops within 100 miles.He explained his manufacturing processes and engraving options to each.All three shops' owners placed a trial order.Within two months,just prior to the holiday season,each shop owner placed an additional order.Herb was ecstatic! "I figured business would slow down after that," Herb stated,"but in February I was contacted by Elmore Distributors.At that point,I had to make a huge decision about how far I wanted to go with this business." Elmore Distributors provides products for school fundraisers in a seven- state area.Herb was offered a two- year contract and immediate inclusion in Elmore's promotional flyer.Herb Marks accepted the offer and,along with it,the responsibility to produce thousands of wooden pens and pencils. "I had to get a grip on the magnitude of this project," Herb added."I couldn't grow out of control.I was already working to capacity." Herb decided to place his major focus on the large contract with Elmore.However,to avoid placing his total emphasis with one customer,Herb continued nurturing his four previously established accounts without targeting any additional customers. "At this point,I had set up an assembly line in a rented building," Herb explained."I had to hire three full- time employees to work the line while I managed the customer orders and purchased materials." Herb paused."But I can't take the Elmore project for granted.It might not always be there.I'll have to have a good alternate plan if that day comes." -If Herb produced a variety of styles of pens and pencils with various wood types and engravings that he tailored specifically to each individual's order,he would be practicing .

A market rarely exists for products that offer less and therefore cost less.

Why do marketers segment the market?

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

Which of the following is the narrowest marketing strategy?

Target marketing sometimes generates controversy and concern.Issues usually involve the targeting of consumers with products.

Which of the segmenting strategies carries higher- than- average risks in consumer markets?

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."

Why do international markets need to be segmented?

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?

Refer to the scenario below to answer the following questions. Herb Marks was making wooden writing utensils as a hobby until Mel Yoder recognized Herb's talent.Mel immediately ordered 250 pens and pencils of various styles to be displayed in his shop's showcase.Within three months,the writing utensils were a hit! Herb Marks had never thought of marketing his talent,but Mel's enthusiasm and the recent sales were enough to change his mind. With limited resources,Herb contacted three additional specialty shops within 100 miles.He explained his manufacturing processes and engraving options to each.All three shops' owners placed a trial order.Within two months,just prior to the holiday season,each shop owner placed an additional order.Herb was ecstatic! "I figured business would slow down after that," Herb stated,"but in February I was contacted by Elmore Distributors.At that point,I had to make a huge decision about how far I wanted to go with this business." Elmore Distributors provides products for school fundraisers in a seven- state area.Herb was offered a two- year contract and immediate inclusion in Elmore's promotional flyer.Herb Marks accepted the offer and,along with it,the responsibility to produce thousands of wooden pens and pencils. "I had to get a grip on the magnitude of this project," Herb added."I couldn't grow out of control.I was already working to capacity." Herb decided to place his major focus on the large contract with Elmore.However,to avoid placing his total emphasis with one customer,Herb continued nurturing his four previously established accounts without targeting any additional customers. "At this point,I had set up an assembly line in a rented building," Herb explained."I had to hire three full- time employees to work the line while I managed the customer orders and purchased materials." Herb paused."But I can't take the Elmore project for granted.It might not always be there.I'll have to have a good alternate plan if that day comes." -In the scenario,how does Herb segment his market?

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