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

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Question 51

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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?

A) geographic segmentation
B) benefit segmentation
C) occasion segmentation
D) demographic segmentation
E) psychographic segmentation

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Question 52

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

A) Benefit
B) Occasion
C) Geographic
D) Demographic
E) Psychographic

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Question 53

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Briefly describe occasion segmentation.

List three variables that are used in segmenting business markets.

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

________ segmentation refers to dividing the market into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item.

Which of the following is the reason a company may choose not to focus on the largest, fastest-growing segments?

Rex Steelworks makes steel sheets which the firm markets and sells to companies all over the world. Which of the following marketing strategies is most suitable for Rex Steelworks?

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

Firms that practice product differentiation gain competitive advantage through the way they design their channel's coverage, expertise, and performance.

Stores such as Walmart, Best Buy, PetSmart, David's Bridal, and DSW Shoes use ________ positioning.

Business information services such as Experian Marketing Services and Nielsen help marketers to ________.

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 ________.

The Jay Group hires better employees than its competition by conducting effective searches and multi-tiered interviews. The company also provides high quality training to its employees, an aspect often neglected by competitors. The Jay Group is most likely to gain a strong competitive advantage through which type of differentiation?

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

Different soft drinks target different personalities. This is an example of ________ segmentation.

Intermarket segmentation refers to forming segments of consumers who have different needs and buying behaviors in a given geographical region.

Briefly describe competitive advantage.

Tropicana promotes drinking orange juice at any time of day as a cool, refreshing drink. The market segmentation approach Tropicana is using is ________.

A catalog retailer in the United States has identified African American professionals between the ages of 35 and 45 as a group of potential customers for its products. The retailer plans to direct its marketing efforts toward this group of consumers. Which of the following market segmentation variables did the catalog retailer most likely use?