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Customer Value-driven Marketing Strategy: Creating Value For Target Customers

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Question 1
Free
Multiple Choice

Companies know they cannot appeal to all buyers in the marketplace, or at least not in the same way. Reasons for this include all of the following EXCEPT ________ .

Choose correct answer/s
A

buyers are too numerous

B

companies vary widely in their abilities to serve different market segments

C

buyers are varied in their needs and buying practices

D

companies need more information to offer the right products to the right customers

E

buyers are widely scattered

Check answer
Question 2
Free
Multiple Choice

________ consists of evaluating each market segment's attractiveness and selecting one or more segments to enter.

Choose correct answer/s
A

Positioning

B

Mass customization

C

Market targeting

D

Market segmentation

E

Differentiation

Check answer
Question 3
Free
Multiple Choice

________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.

Choose correct answer/s
A

Mass customization

B

Market targeting

C

Market segmentation

D

Differentiation

E

Positioning

Check answer
Question 4
Free
Multiple Choice

________ involves actually distinguishing the firm's market offering to create superior customer value.

Choose correct answer/s
A

Mass customization

B

Differentiation

C

Market segmentation

D

Diversifying

E

Targeting

Check answer
Question 5
Free
Multiple Choice

When marketers at Fair & Leigh Inc. selected the Millennials, a demographic group that includes many college students, as an untapped group of potential customers for their new line of products, they were engaging in ________ .

Choose correct answer/s
A

occasion segmenting

B

local marketing

C

market diversification

D

market targeting

E

product positioning

Check answer
Question 6
Multiple Choice

________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Choose correct answer/s
A
Mass customization
B
Targeting
C
Segmentation
D
Differentiation
E
Positioning
To unlock the question
Question 7
True/False

Mass marketing involves identifying market segments, selecting one or more of them, and developing products and marketing programs tailored to each.

Choose correct answer/s
True
False
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Question 8
True/False

The customer-driven marketing strategy involves four steps: market segmentation, market targeting, positioning, and differentiation.

Choose correct answer/s
True
False
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Question 9
True/False

With technology advances making it simple to contact many customers at once, companies have moved toward mass marketing over target marketing.

Choose correct answer/s
True
False
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Question 10
Essay

What is differentiation?

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Question 11
Essay

Explain the four major steps in designing a customer-driven marketing strategy.

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Question 12
Multiple Choice

Which of the following is NOT one of the major variables used in segmenting consumer markets?

Choose correct answer/s
A
demographic
B
behavioral
C
ethical
D
geographic
E
psychographic
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Question 13
Multiple Choice

________ calls for dividing the market into regions, states, counties, cities, or even neighborhoods.

Choose correct answer/s
A
Benefit segmentation
B
Geographic segmentation
C
Demographic segmentation
D
Psychographic segmentation
E
Occasion segmentation
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Question 14
Multiple Choice

Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods. This is an example of ________ .

Choose correct answer/s
A
geographic segmentation
B
product diversification
C
branding
D
psychographic segmentation
E
demographic segmentation
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Question 15
Multiple Choice

________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Choose correct answer/s
A
Geographic
B
Benefit
C
Occasion
D
Psychographic
E
Demographic
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Question 16
Multiple Choice

Delta Motorworks markets its cars based on the age, gender, and income of its customers. Which of the following types of market segmentation is evident here?

Choose correct answer/s
A
geographic segmentation
B
benefit segmentation
C
occasion segmentation
D
demographic segmentation
E
psychographic segmentation
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Question 17
Multiple Choice

________ segmentation divides buyers into different segments based on social class, lifestyle, or personality characteristics.

Choose correct answer/s
A
Benefit
B
Occasion
C
Geographic
D
Demographic
E
Psychographic
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Question 18
Multiple Choice

A company selling child-care products ran a television ad depicting women as being primarily responsible for childcare. Many women viewers considered this regressive, alleging that the ad failed to recognize the much more diversified role of women in today's world. This is an example of ________ .

Choose correct answer/s
A
cause marketing
B
stereotyping
C
niche marketing
D
scapegoating
E
positioning
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Question 19
Multiple Choice

Which of the following variables are the most popular for marketers to use in segmenting customer groups?

Choose correct answer/s
A
ethical
B
psychographic
C
demographic
D
behavioral
E
geographic
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Question 20
Multiple Choice

________ can be a poor predictor of a person's health, work or family status, needs, or buying power.

Choose correct answer/s
A
Occupation
B
Education
C
Ethnicity
D
Religion
E
Age
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