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

Mass marketers,such as Target and Venture Stores,often ignore market segment differences and target the whole market with one offer.What is their approach to segmenting?

Which of the following is the most popular method for segmenting markets?

Your firm has decided to localize its products and services to meet local market demands.A good approach to use would be _ segmentation.

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

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

What competitive positioning can attack a more- for- more strategy by introducing a brand offering with comparable quality at a lower price?

Why might demographic segmentation be the most common type of segmentation?

A brand difference is worth establishing and promoting to the extent that it satisfies all of the criteria below EXCEPT which one?

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

Segmenting voters as either Democrats or Republicans is an example of _.

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

You have just created the "perfect" ad.It communicates the full mix of benefits upon which the brand is differentiated and positioned.This full positioning of the brand is called .

Neiman Marcus claims superior quality,performance,and style.The owners provide the most upscale products and services and charge a higher price to cover the higher costs.What type of positioning does Neiman Marcus use?

When might be the best time for a marketer to use geographic segmentation?

Cheap Heaps Auto specializes in lower quality vehicles,with a few dents,that are priced a great deal lower than other used cars.Cheap Heaps has chosen to position its products with a strategy.

Explain how market variability impacts the choice of a target- marketing strategy.

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

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 marketing his writing utensils to his four specialty- shop customers,Herb is using marketing.

Your current assignment at York Foods is to find the major benefits people look for in product classes,the kinds of people who look for each benefit,and the major brands that deliver each benefit.What is this segmentation method called?

Cigarette,beer,and fast- food marketers have generated much controversy in recent years by their attempts to target .