T/F: Coca-Cola launched Coke Zero to avoid cannibalizing current sales and to attract new customers in a segment they might not get with Diet Coke.
TRUE
cannibalizing current sales: new products out sell old products
When a marketer adjusts the marketing mix to give customers a clear, distinctive understanding of what the product does, the marketer is engaging …
marketing repositioning (market positioning)
T/F : For products like pencils and paper clips, marketers should probably use an undifferentiated targeting strategy.
when everyone can be considered a potential user of the product and benefits are similar
True
concentrated target strategy is one where the organization selects a single target market. In this case, the local internal medicine doctors make up a single target market
The Value and Lifestyle Survey (VALS) conducted by Strategic Business Insights (SBI) is a widely used tool for…
psychographic segmentation
T/F: Positioning strategies generally focus either on how the product benefits the consumer or on how it is better than competitors’ products.
TRUE
positioning refers to communicating the unique value the product or service provides and how its different from competitive products
This map displays the position of products or brands in the customers mind
perceptual map
..
segmenting, targeting, and positioning
First step in STP process
to establish strategy and objectives
A complex product that is best described in writing will be difficult to explain to consumers who are unable to read. For this reason, a segment in which many consumers could not read would be considered unattractive because the consumers would not be …..
Part of step 3: evaluate segment attractiveness
T/F : A company that sells only multigrain, low-calorie bread should use an undifferentiated targeting strategy.
to specific: use concentrated target strategy
The unique value that a product or service provides its customers and how it is better than and different from those of competitors is..
value proposition
Segmentation, targeting, and positioning
are part of a firms marketing strategy
Alex has found that both commercial and residential real estate buyers respond positively to his marketing communication message. Alex has identified __________ that respond similarly to his marketing efforts.
market segments
In a classic example of segmentation strategy, years ago Swift Meat Company transformed turkey meat into Butterball turkeys. In the process, the company….
differentiated its product
A ___________ strategy is one in which different target markets are served by different marketing mixes.
benefits: helps obtain a bigger share of the market, lower overall risk, and diversify its business
negative: costly
T/F: Maintaining a unique value proposition can be sustained in the long term only in monopoly situations or monopolistic competition situations.
TRUE
an extreme form of target marketing
micromarketing or one-to-one
ex: Nike ID
Differences in weather and climate create opportunities for….
geographic segmentation
__________ segmentation is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach.
demographic segmentation
(age, gender, income, education)
psychographics is related to …
how we describe ourselves/ why we make choices (self-value, self- concept, lifestyle) BEHAVIOR
Baby Boomers represent a huge demographic segment for travel marketers. Baby Boomers are also heavily motivated by self-fulfillment, which creates the possibility of __________ segmentation.
More costly
Beverage companies often use television commercials with images of young people laughing and enjoying themselves on a beach or in a club. These images are designed to appeal to consumers’ __________, suggesting “be like me.”
self- concept: the way we see ourselves
__________ segmentation is the segmentation method most directly related to value creation for consumers.
the value they will obtain from the product
Toothpastes sold in supermarkets and pharmacies promise various results, such as whiter teeth, protection against gum disease, tartar control, or fresh breath. Toothpaste marketers are using __________ segmentation.
benefit
The phrase “birds of a feather flock together” captures the idea of __________ segmentation.
uses PRIMZ and ESRI
useful for retailers
a strategy of investing in loyalty initiatives to retain the firms most profitable customers
used because there is a high cost to find new customers
step 3 of STP
identifiable, substantial, responsive, reachable, and profitable
A segment is _________ if its members react similarly and positively to the marketing mix.
responsive
When Starbucks first opened, many critics suggested, “No one will pay $4.00 for a cup of coffee.” Starbucks’ critics suggested consumers would not be __________ to the company’s offerings.
responsive
Caroline is assessing market growth, market competitiveness, and market access for each segment she has identified. Caroline is assessing the __________ of each potential market segment.
profitability
considers market growth, market competitiveness, and market access, along with ensuring that the profit margin will be sufficient to cover costs.
___________ includes ease of developing or accessing distribution channels, and brand familiarity.
Market access
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 twenty years. Donald is __________ his business relative to his competition.
negative: might confuse the customer unless a clear distinction is made
Remember! This is just a sample.
You can get a custom paper by one of our expert writers.
Get your custom essay
Helping students since 2015
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download