marketing chapter 3 test 1

4 utilities of customer value
Form,
Time
Place, and
Ease of Possession.
form
utility consists of everything the manufacturer has put into a product, from its aesthetics to its durability.
time
Making offerings available when customers want them.
place
Where the consumer takes ownership of the offering
ease of possession
The attributes that make it possible to transfer title to an offering from the seller to the buyer—price, payment plan, and any warranties or guarantees that go into a purchase.
segmenting STP Process
Consumers’ criteria for making purchase decisions represent a powerful means of separating them into unique segments for targeting.
value propostion
is a statement that targets potential customers and describes why they should buy a specific offering from a specific company.
targeting
focuses marketing resources on those groups of potential customers who are likely to have greater demand for a product.
postitioing
is the practice of creating an identity in the minds of prospective customers that allows one offering to stand out among many.
repositioing
occurs when a firm strategically changes the brand’s current image or personality.