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

The 55- 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).

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.

Sanguine Services is a small company that practices a marketing strategy in which its limited resources are used to go after a large share of two small niches.Sanguine practices which one of these strategies?

Developing a stronger position within several segments creates more total sales than undifferentiated marketing across all segments.

When choosing a target marketing strategy,many factors need to be considered.Which of the following does your text NOT mention as important?

Explain the four major segmenting variables for consumer markets.

Though the use of mass marketing has been widespread in the past 100 years,for centuries consumers were served as individuals as businesses practiced individual marketing.

A product's position is based on important attributes as perceived by .

Explain the concept of positioning for competitive advantage.

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

A product's position is the way the product is defined by the retailers who sell it to target markets.It is how it is defined on important attributes-the place the product occupies in the retailers' minds relative to competing products.

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

Which of the following is the most logical reason for P&G offering products that compete with one another on the same supermarket shelves?

By studying its less loyal buyers,a company can detect which brands are most its own.

When the size,purchasing power,and profiles of a market segment can be determined,it possesses the requirement of being .

Demographic variables are frequently used in market segmentation because they .

Which of the following statements illustrates why stereotypes should be avoided when using age and life- cycle segmentation?

Shopping for the Rich and Famous is a buying service that helps wealthy clients find the best buys in exclusive clothing,high- end cars,travel,and financial services.This firm most likely uses income segmentation.

When marketers at Procter & Gamble selected the Millennials,a demographic that includes college students,as an untapped group of potential customers for their Febreze line of products,they were executing which step in the process of designing a customer- driven marketing strategy?

In target marketing,the issue of social responsibility is not really who is targeted,but rather and for .