Archive for December 2023

Charles Revson started Revlon. He once said "We sell hope." Revson was defining the ______ of Revlon cosmetics.

Answer: core customer value

Blood donations to the Red Cross are considered __________ products.

Answer: unsought

The distribution strategy during the decline stage of PLC involves building more intensive distribution networks

Answer: FALSE

Amazon and GEICO set themselves apart with their smooth-functioning direct delivery strategy referred to as __________ differentiation.

Answer: channel

Which value proposition is difficult to sustain in the long run?

Answer: More for less

What are perceptual positioning maps used for?

Answer: To show consumer perceptions of different brands on important buying dimensions

The Westin Stamford Hotel in Singapore failed when it once advertised itself as the world's tallest hotel. This difference was not worth establishing because it did not satisfy which of the following criteria?

Answer: Important

A company can differentiate itself from competitors using symbols such as McDonald's golden arches, Twitter's bird, and the Nike swoosh. Which type of differentiation is this?

Answer: Image differentiation

The winning value proposition by discount stores such as Walmart and Best Buy can be categorized as __________.

Answer: the same for less

Amazon and GEICO set themselves apart with their smooth-functioning direct delivery strategy referred to as __________ differentiation.

Answer: channel

One important consideration in using a differentiated targeting strategy is that ________.

Answer: it can increase costs

On the My M&Ms Web site, users can place custom orders for M&Ms. They can choose their own colors, put a personalized text message on the candies, and even upload a photo to be placed on each M&M. Which targeting strategy is M&M using here?

Answer: Individual marketing

Anythinglefthanded.com.uk only sells products designed for left-handed people. Which targeting strategy is it using?

Answer: Concentrated marketing

A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your colleague?

Answer: Carefully consider the degree of competition and ease of entry into the segment.

Instead of going after a small share of a large market, a firm goes after a large share of a smaller niche segment. This type of marketing strategy is known as __________.

Answer: concentrated marketing

Using a(n) __________ marketing strategy, a firm might decide to ignore market segment differences.

Answer: undifferentiated

If men and women respond similarly to the same marketing mix, they do not constitute different segments. Gender would not be effective in this example because the segment is not ________.

Answer: differentiable

When marketers target segments such as sports fans, do-it-yourselfers, commuters, and wine enthusiasts, which base of segmentation are they using?

Answer: Psychographic segmentation

Which of the following statements regarding segmentation is correct?

Answer: Consumer and business marketers use many similar variables, but business marketers use additional variables to segment their markets.

Toothpastes claim they "whiten teeth," "fight bad breath," and "reduce plaque." Which base of segmentation is being used in this example?

Answer: Benefits sought

___ segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses to a product.

Answer: Behavioral

______ segmentation divides buyers into different segments based on lifestyle or personality characteristics

Answer: Psychographic

What is positioning?

Answer: Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

Which of the following statements about segmentation is true?

Answer: Different segments might require different marketing strategies or mixes

What is the purpose of differentiation?

Answer: To create superior customer value

The process of evaluating each market segment's attractiveness and selecting one or more market segments to enter is called ______

Answer: market targeting

The step in designing a customer value-driven marketing strategy in which a company divides a market into distinct groups of buyers is known as market _____

Answer: segmentation

Market ______ evaluates each market segment's attractiveness and selects one or more segments to serve

Answer: targeting

Charles Revson started Revlon. He once said​ "We sell​ hope." Revson was defining the​ ______ of Revlon cosmetics.

Blood donations to the Red Cross are considered​ __________ products.

The distribution strategy during the decline stage of PLC involves building more intensive distribution networks

Amazon and GEICO set themselves apart with their​ smooth-functioning direct delivery strategy referred to as​ __________ differentiation.

Which value proposition is difficult to sustain in the long​ run?

What are perceptual positioning maps used​ for?

The Westin Stamford Hotel in Singapore failed when it once advertised itself as the​ world's tallest hotel. This difference was not worth establishing because it did not satisfy which of the following​ criteria?

A company can differentiate itself from competitors using symbols such as​ McDonald's golden​ arches, Twitter's​ bird, and the Nike swoosh. Which type of differentiation is​ this?

The winning value proposition by discount stores such as Walmart and Best Buy can be categorized as​ __________.

Amazon and GEICO set themselves apart with their​ smooth-functioning direct delivery strategy referred to as​ __________ differentiation.

One important consideration in using a differentiated targeting strategy is that​ ________.

On the My​ M&Ms Web​ site, users can place custom orders for​ M&Ms. They can choose their own​ colors, put a personalized text message on the​ candies, and even upload a photo to be placed on each​ M&M. Which targeting strategy is​ M&M using​ here?

Anythinglefthanded.com.uk only sells products designed for​ left-handed people. Which targeting strategy is it​ using?

A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your​ colleague?

Instead of going after a small share of a large​ market, a firm goes after a large share of a smaller niche segment. This type of marketing strategy is known as​ __________.

Using​ a(n) __________ marketing​ strategy, a firm might decide to ignore market segment differences.

If men and women respond similarly to the same marketing​ mix, they do not constitute different segments. Gender would not be effective in this example because the segment is not​ ________.

When marketers target segments such as sports​ fans, do-it-yourselfers,​ commuters, and wine​ enthusiasts, which base of segmentation are they​ using?

Which of the following statements regarding segmentation is​ correct?

Toothpastes claim they​ "whiten teeth,"​ "fight bad​ breath," and​ "reduce plaque." Which base of segmentation is being used in this​ example?

___ segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses to a product.

______ segmentation divides buyers into different segments based on lifestyle or personality characteristics

What is positioning?

Which of the following statements about segmentation is true?

What is the purpose of differentiation?

The process of evaluating each market segment's attractiveness and selecting one or more market segments to enter is called ______

The step in designing a customer value-driven marketing strategy in which a company divides a market into distinct groups of buyers is known as market _____

Market ______ evaluates each market segment's attractiveness and selects one or more segments to serve

Charles Revson started Revlon. He once said "We sell hope." Revson was defining the ______ of Revlon cosmetics.

Blood donations to the Red Cross are considered __________ products.

Amazon and GEICO set themselves apart with their smooth-functioning direct delivery strategy referred to as __________ differentiation.

Which value proposition is difficult to sustain in the long run?

What are perceptual positioning maps used for?

The Westin Stamford Hotel in Singapore failed when it once advertised itself as the world's tallest hotel. This difference was not worth establishing because it did not satisfy which of the following criteria?

A company can differentiate itself from competitors using symbols such as McDonald's golden arches, Twitter's bird, and the Nike swoosh. Which type of differentiation is this?

The winning value proposition by discount stores such as Walmart and Best Buy can be categorized as __________.

Amazon and GEICO set themselves apart with their smooth-functioning direct delivery strategy referred to as __________ differentiation.

One important consideration in using a differentiated targeting strategy is that ________.

On the My M&Ms Web site, users can place custom orders for M&Ms. They can choose their own colors, put a personalized text message on the candies, and even upload a photo to be placed on each M&M. Which targeting strategy is M&M using here?

Anythinglefthanded.com.uk only sells products designed for left-handed people. Which targeting strategy is it using?

A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your colleague?

Instead of going after a small share of a large market, a firm goes after a large share of a smaller niche segment. This type of marketing strategy is known as __________.

Using a(n) __________ marketing strategy, a firm might decide to ignore market segment differences.

If men and women respond similarly to the same marketing mix, they do not constitute different segments. Gender would not be effective in this example because the segment is not ________.

When marketers target segments such as sports fans, do-it-yourselfers, commuters, and wine enthusiasts, which base of segmentation are they using?

Which of the following statements regarding segmentation is correct?

Toothpastes claim they "whiten teeth," "fight bad breath," and "reduce plaque." Which base of segmentation is being used in this example?