Question 1

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

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Question 2

In what ways might a marketer engage in socially responsible target marketing?

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Question 3

The same-for-less positioning involves meeting consumers' lower performance or quality requirements at a much lower price.

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The same-for-less positioning involves offering the same quality or performance as competitors but at a lower price, not lower performance or quality.

Question 4

Summarize how companies identify attractive market segments and choose a target marketing strategy.

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Question 5

Compare and contrast local and individual marketing.Describe the advent of mass customization.

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Question 6

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

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Question 7

A more-for-more market offering not only offers higher quality,it also gives prestige to the buyer.

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A more-for-more market offering provides not only higher quality but also adds prestige to the buyer, making it a true representation of "you get what you pay for." For example, luxury brands like Gucci or Louis Vuitton are more expensive, but they offer a sense of exclusivity and status to their buyers.

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.

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Niche marketing allows smaller companies to find a smaller group of customers with unique needs that may not be a priority for larger companies. By catering to these niche markets, smaller companies can build brand recognition and compete with larger competitors.

Question 9

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

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Question 10

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

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This statement is true. The company's resources, degree of product variability, and product life-cycle stage are all important factors that influence the choice of target marketing strategy.

Question 11

Companies often find it easier to come up with a good positioning strategy than to implement it.

Accepted Answer

Developing a positioning strategy requires significant effort and resources, but implementing it can be even more challenging. Implementation often requires changes in organizational structure, processes, and culture, which can be difficult to achieve. It requires buy-in from different departments and stakeholders and a focus on execution. Many companies struggle with the execution of their positioning strategy, leading to inadequate or inconsistent messaging and execution that undermines the effectiveness of the strategy.

Question 12

Compare and contrast the four major target market segment strategies.

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Question 13

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

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A company or brand image should effectively communicate and highlight a product's unique features, benefits, and positioning to differentiate itself from competitors in the market.

Question 14

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

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Question 15

Briefly describe the requirements for effective market segmentation.

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Question 16

A product's position is the way the product is defined by retailers on important attributes-the place the product occupies in retailers' minds relative to competing products.

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A product's position is the way the product is defined by consumers on important attributes-the place the product occupies in consumers' minds relative to competing products.

Question 17

Explain the four major segmentation variables for consumer markets.

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Question 18

Why do international markets need to be segmented?

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Question 19

How do businesses segment their markets?

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Question 20

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

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