Marketing 300 (Chapter 9)

Sally is in the new marketing department of a midsized lawn and garden company. She is working on the first marketing plan the firm has ever used. She has defined the mission and objectives, and she just finished a situation analysis for the firm. The next step is to
Identify and evaluate opportunities by conducting segmentation, targeting, and positioning analysis.
When firms target several market segments with a different offering for each segment it is using which targeting strategy?
Differentiated
Many companies use the Internet to allow consumers to design customized products; for example, Nike allows customers to order shoes with custom color combinations. This is a form of
Micromarketing
Beer marketers know that high school educated, working-class males from the ages of 25 to 40 make an attractive market for their products. This is a __________ segment of the beer market.
Demographic
To develop psychographic segments, the marketer must understand consumers’
self-values, self-concept, and lifestyles.
Marketers have found that __________ segmentation is often more useful for predicting consumer behavior than __________ segmentation.
Psychographic, Demographic
__________ segmentation is the segmentation method most directly related to value creation for consumers.
Benefit
Airlines were among the first retailers to embrace loyalty segmentation when they created
Frequent Flyer Programs
Karen has identified four potential market segments for her Rent-A-Chef home meal catering service. The next step is to
Evaluate the attractiveness of each segment.
Ryan wants to sell personal website services to American soldiers in Afghanistan. Because of the difficulty of communicating with people in a war zone, Ryan may have trouble with this segment not being
Reachable
When Starbucks first opened, many critics suggested, “No one will pay $4 for a cup of coffee.” Starbucks’s critics suggested consumers would not be __________ to the company’s offerings.
Responsive
__________ involves defining the firm’s marketing mix variables so that target customers have a clear, distinctive, and desirable understanding of the firm’s offerings relative to competitors’ offerings.
Positioning
We often see advertisements touting a product as being made with natural ingredients, or being long-lasting. Marketers using these types of promotions are positioning their products based primarily on
Product Attributes
Which of the following defines a value proposition?

-The unique value that a product or service provides to customers

-A special discount offer dropping the price

-An advertisement that talks about value

-A display of the position of products or brands in the consumer’s mind

-The one feature that will prompt a customer to buy the product

The unique value that a product or service provides to customers
For products like clothespins, which provide the same benefit for all consumers, marketers should probably use a(n) ________ strategy.
Undifferentiated Targeting
Which of the following is a core aspect of marketing?
Making product, place, promotion, and price decisions
Franco uses a database software system to remind him when his customers should be ready to reorder his industrial cleaning products. With this reminder system, Franco contacts his customers when they are most likely to be “in the buying mode.” Franco’s system is part of
Customer relationship management.
In marketing terms, the trade of things of value between the buyer and the seller so that each is better off as a result is referred to as
A marketing exchange
Traditionally, marketing activities have been divided into product, price, place, and promotion. Select the term that best describes the four Ps.
Marketing Mix
How a product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer are all elements of
A Marketing Plan
The ethical decision-making framework includes all of the following steps except
Promote the firm’s corporate social responsibility efforts.
Garrett has just purchased a beer distributorship. He wants to increase the visibility of his firm in local markets, but he knows there are a number of regulations and socially accepted practices associated with promoting alcoholic beverages. According to the framework for ethical decision making, the first thing Garrett should do is to
Identify issues that need to be addressed
Which of the following is not a question posed in the ethical decision-making metric?
Will this action help advance my career?
Some banks have begun offering special accounts designed to attract junior high school students. These kids save in such small amounts that the accounts cost banks more to maintain than they are worth. But bankers know that consumers are creatures of habit and hope that the young people they serve now will become adult customers. These banks recognize
The lifetime value of customers
For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements with other countries creates
Opportunities
When a pharmaceutical company develops a new medication, it typically applies for a patent in order to prevent competitors from developing copycat products for several years. Pharmaceutical companies apply for patents to establish
Sustainable competitive advantage
In a SWOT analysis, increasing gasoline prices would represent a potential __________ for manufacturers of electric cars
Opportunity
In 2007, Apple Computer introduced its new iPhone, adding a cellular telephone, a camera, and Internet access to its iPod. The company was pursuing a(n) __________ strategy.
Product Development
When a company decides to minimize risk and enter a global market by shipping its products to buyers in other countries, this is known as
Exporting
Franco, a former retailer, has been living in the United States for five years and wants to start a business. He does not have an existing firm or a product, and he doesn’t have a lot of capital, but since he loves McDonald’s food, he decides to
Open a McDonald’s franchise.
The shared meanings, beliefs, morals, values, and customs of a group of people constitute their
Culture
Christy, who was born in 1955, advocated for “casual Friday” at her workplace. Christy is a member of which generational cohort?
Baby Boomer
Yvonne knows her firm must look at everything it does from a consumer’s point of view. One major difficulty is that consumers’ __________ change(s) over time.
Needs, wants, and ability to purchase
When marketers look at advertising media they often begin with viewer or listener profiles such as age, income, gender, and race. They then compare the media profile with their target audience. These marketers are using __________ to see if the media “fit” with their advertising agenda.
Demographics
For some products, marketers can combine education level with other data like occupation and income to obtain
Useful prediction of purchase behavior
Education marketers know that the primary motivations of most nontraditional college students are self-respect and self-fulfillment, so they craft their marketing message to emphasize the benefits these consumers are looking for in a college education. Which type of segmentation method was used to segment this market?
Psychographics
Whenever Donald calls on potential pest control customers, he emphasizes the fact that, unlike the national franchise competitors, he is a local business person and has been in business over 20 years. Donald is __________ his business relative to his competition.
Positioning
A __________ is often used to illustrate the position of a firm’s products or brands in consumers’ minds.
Perceptual Map
Micromarketing is also referred to as
One-to-one Marketing
For each target market, General Imaging Corporation, a manufacturer of imaging equipment, will engage in positioning by adjusting its marketing mix variables in order to give customers
Clear, distinctive, and desirable understanding of their products relative to competing products.