Question 1

Describe how marketers use multiple-segmenting bases to their advantage.

Accepted Answer

The answer of Describe how marketers use multiple-segmenting bases to...

Question 2

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

Accepted Answer

The answer of Explain the four major steps in designing...

Question 3

Describe age and life-cycle segmentation with examples.What are the precautions that marketers should take when using age and life-cycle segmentation?

Accepted Answer

The answer of Describe age and life-cycle segmentation with examples.What...

Question 4

Why do international markets need to be segmented?

Accepted Answer

The answer of Why do international markets need to be...

Question 5

Briefly describe the characteristics of effective market segments.

Accepted Answer

The answer of Briefly describe the characteristics of effective market...

Question 6

Explain the concept of positioning for competitive advantage.

Accepted Answer

The answer of Explain the concept of positioning for competitive...

Question 7

How do businesses segment their markets?

Accepted Answer

The answer of How do businesses segment their markets?...

Question 8

Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies.

Accepted Answer

Niche marketing allows smaller companies to find and serve specific segments of the market, often ignored by larger companies. This allows them to compete on a smaller scale but with more focused and targeted efforts.

Question 9

Describe the different types of value propositions on which a company might position its products.

Accepted Answer

The answer of Describe the different types of value propositions...

Question 10

Cian,an automobile manufacturer,offers a new car model with features comparable to that of another popular brand.However,the Cian model is priced lower than its competitor and includes a longer warranty.Cian is most likely following a more-for-the-same strategy.

Accepted Answer

The answer of Cian,an automobile manufacturer,offers a new car model...

Question 11

Compare and contrast local and individual marketing.

Accepted Answer

The answer of Compare and contrast local and individual marketing....

Question 12

A more-for-more market offering not only offers higher quality but also gives prestige to a buyer.

Accepted Answer

A more-for-more market offering not only provides superior quality but also adds to the buyer's prestige because it is associated with higher value and status.

Question 13

Explain the four major segmentation variables for consumer markets.

Accepted Answer

The answer of Explain the four major segmentation variables for...

Question 14

Describe a few ways in which a marketer can engage in socially responsible target marketing.

Accepted Answer

The answer of Describe a few ways in which a...

Question 15

A company or brand image should convey a product's distinctive benefits and positioning.

Accepted Answer

A company or brand image should be designed in a way that effectively communicates a product's distinctive benefits and positioning, helping consumers identify the unique value proposition offered by the product or service. Thus, the answer is true.

Question 16

Describe the process by which companies identify attractive market segments and choose a target marketing strategy.

Accepted Answer

The answer of Describe the process by which companies identify...

Question 17

Brand differences are worth promoting if they satisfy certain criteria.What are these criteria?

Accepted Answer

The answer of Brand differences are worth promoting if they...

Question 18

Explain with examples how marketers segment markets based on occasions,benefits sought,and user status.

Accepted Answer

The answer of Explain with examples how marketers segment markets...

Question 19

When a company chooses a target marketing strategy for a product,its choices are most likely influenced by the product's life-cycle stage.

Accepted Answer

As the product progresses through its life-cycle, the target market may change, and the company may need to adjust its marketing strategy accordingly to reach and appeal to the new target audience. For example, in the introduction stage, the company may focus on a niche market to create awareness and generate buzz around the new product. In the growth stage, the company may expand its market reach to a broader audience and position the product as a leader in the market. In the maturity stage, the company may need to differentiate the product or create targeted promotions to maintain market share in a crowded market. In the decline stage, the company may need to focus on loyal customers or phase out the product altogether.

Question 20

Compare and contrast the four major strategies that are generally used to target market segments.

Accepted Answer

The answer of Compare and contrast the four major strategies...

Quiz 6: Customer-Driven Marketing Strategy: Creating Value for Target Customers