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MKG 300 Ch. 4

Which of the following is most likely to happen in a generic market?
broadly similar needs and sellers offering various, often diverse, ways of satisfying those needs
A ______________ market is a market with broadly similar needs and sellers offering various and
often diverse-ways of satisfying those needs.
Generic
A generic market
is a market with broadly similar needs and sellers offering various, often diverse, ways of satisfying those needs
A transistor radio, an MP3 player, and a portable CD player might compete in the same
Generic Market
A “product-market” is a market in which:
final goods or services are offered for purchase by consumers, businesses, and the public sector.
Which of the following is NOT true of a product-market?
Customer Needs, Customer Types, and Geographic Area
A firm’s “relevant market for finding opportunities” should ______.
be bigger than the firm’s present product-market—but not so big that the firm couldn’t expand and be an important competitor.
The customer type component of the product-market should include: ______.
final consumer or user of a product type
Why are product-market boundaries important?
give each company a focus that sharpens marketing strategy.
The disaggregating step in market segmentation involves ______.
brainstorming about very different solutions to various generic needs and selecting some broad areas—broad product-markets—where the firm has some resources and experience
The marketing management team for Dada Motors brainstormed a variety of solutions to the
problem of how to transport people in the world. This process came during the ______ step in the
market segmentation process.
disaggregating
Market segmentation
two-step process of (1) naming broad product-markets and (2) segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.
The marketing management team for Dada Motors brainstormed a variety of solutions to the
problem of how to transport people in the world. This process came during the ______ step in the
market segmentation process.
Marketing managers want market segments to have each of the following characteristics
EXCEPT:
As numerous as possible
Jazzy Tile Co. segmented its broad product-market and decided to aim at two different
segments, offering each segment a different marketing mix. Jazzy Tile Co. is following the
______________ approach.
Multiple Target
The combined target market approach:
two or more submarkets into one larger target market as a basis for one strategy.
Having segmented its broad product-market, Blue Chip, Inc. feels that three segments are
similar enough that-together-they can be treated as one large target market and offered the same
marketing mix. Blue Chip, Inc. is following the ______________ approach.
combined total market approach
A producer of electrical components combined electrical supply wholesalers and
manufacturers of electrical equipment into the same market segment-one of several segments it was
targeting. Soon it lost the manufacturers’ business to a competitor. It seems that the firm failed to
consider the risk of ______.
Too much aggregating
Segmenters, in contrast to combiners:
tries to identify homogeneous submarkets and develop different marketing mixes for each submarket.
Which of the following statements about is characteristic of market-oriented strategy planning is
Answer: True?
both segmenters and combiners can be target marketers.
Which of the following statements iterates that combiners make compromises in developing the
marketing mix?
the marketing mix is selected to work fairly well with each segment.
Which of the following tasks should a segmenter be involved in?
usually fine-tune their marketing mixes for each target market—perhaps making basic changes in the product itself—because they want to satisfy each segment very well.
Segmenting dimensions
help guide marketing mix planning.
Target market dimensions should influence all the following strategy decisions except:
behavioral, Geographic location, and Demographic .
Which of the following would be a determining dimension for a customer who needs to buy a
marketing textbook for school?
Behavioral
Strategy decisions pertaining to product features, packaging, product line assortment, and
branding will be most affected by which target market dimension?
Behavioral needs and attitudes of consumers
BEHAVIORAL (rather than DEMOGRAPHIC) segmenting dimensions include:
Needs, thoughts, rate of use, brand familiarity, info required
Coorgs Coffee, Inc. has substantial market share in South America but seeks growth. Its
managers want to expand into North America and target cities with populations of 50,000-99,999.
Identify the segmenting dimension most probably being used by Coorgs Coffee.
Geographic
When Hallmark stores offer a product line that includes everything you need to have a
Spiderman theme birthday party, what is the primary segmenting dimension that Hallmark is using
Benefits sought
Deciding whether a group of customers should be included in a target market is the purpose of
_____ dimensions.
qualifying
Compared to qualifying dimensions, determining dimensions
are usually much more specific, and are more likely to be related to the specific brand selected.
Which of the following is MOST LIKELY to be a DETERMINING dimension with respect to
purchase of a particular brand of coffee?
Taste
Segmenting international markets (as contrasted with domestic markets):
may be more difficult because critical data may not be available or dependable
When moving to international markets, some firms insist that local operations and decisions
should be handled by natives because: ______
they have own unique cultures
Clustering techniques applied to segmenting markets ______.
Usually require computers to group people based on data from market research.
When a customer orders a book at Amazon.com, the online retailer recommends related books
that have been purchased by other customers who bought that book. Amazon is using a(n)
Cluster technique
Alpine Auto Repair keeps a record of customer oil changes and sends a reminder postcard to
its customers when it’s time for the next oil change. This is an example of a ______ system.
customer relationship management
Customer relationship management (CRM) helps consumer marketers ______.
profiling prospects, understanding their needs, and in building relationships with them by providing the most suitable products and enhanced customer service
When a company becomes aware that a new product is being test marketed by one of its
ompetitors in St. Louis, it decides to create a similar product and rush it to market. This company can
be described as a(n) ______.
Me-too Imitator
“Positioning” is a marketing management aid that refers to:
how customers think about proposed and/or present brands in a market
“Positioning”
helps strategy planners see how customers view competitors’ offerings
Positioning” might cause a marketing manager to:
Any of the above
Which of the following statements is True regarding positioning?
None of the above
Business-to-business markets, with very large customers, have typically ______.
Have more complex decision making
When PepsiCo asked its advertising agency to develop an advertising program for its Mountain
Dew soft drink, it gave the agency a statement describing the age and fun-loving spirit of its target
market and the one-of-a-kind citrus flavor of the new product, what type of statement was this?
positioning statement

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