Question 1

What is one way in which a marketer can attract nonloyal consumers?

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Question 2

Kia offers a new car model with the same features as a comparable but higher priced Toyota or Ford and provides a longer warranty.Kia is following a more- for- less strategy.

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Question 3

If Kool- Aid promotes a year- round campaign that "Kool- Aid isn't just a summertime drink," what type of segmentation is being used?

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Question 4

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

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Most companies are moving away from mass marketing towards more targeted marketing strategies, focusing on building relationships with specific customer segments rather than the mass market.

Question 5

In what ways might a marketer be able to gain competitive advantage through channel differentiation?

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Question 6

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.

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The correct order for customer-driven marketing is market segmentation, targeting, differentiation, and positioning.

Question 7

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

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Question 8

Why must marketers guard against stereotypes when using age and life- cycle segmentation?

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Question 9

XYZ Computers,Inc. ,a business with limited resources,is a market nicher.How might XYZ benefit from this?

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Question 10

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.

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Income segmentation is a marketing strategy that involves dividing a market into different income groups and targeting each group with products or services that are specifically designed to meet their needs and preferences. Shopping for the Rich and Famous targets wealthy clients, which is a clear example of income segmentation.

Question 11

List three variables not applicable to the consumer market that may be used to segment business markets.

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Question 12

What factors may impact segment attractiveness?

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Question 13

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

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Question 14

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

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Question 15

BMW allows customers to design their own vehicle from a set of options at BMW's Web site.What is this called?

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Question 16

What is one major assumption made by marketers who choose to use an undifferentiated marketing strategy?

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Question 17

How might a marketer benefit from using PRIZM?

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Question 18

Why do marketers segment the market?

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Question 19

Why might a marketer of laundry detergent be interested in viewing a perceptual positioning map?

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Question 20

When a company chooses a target marketing strategy,its choices are influenced by factors related to company resources,the degree of product variability,and the product's life- cycle stage.

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When choosing a target marketing strategy, a company considers factors such as its available resources, the variability of the product, and the product's life-cycle stage.

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