Marketing Management Study Guide – Flashcards

Customer intimacy refers to companies that ______.

Product leadership refers to companies that ______.

If a brand has an exclusive image, it would make good sense NOT to ________.

Sometimes _________ segments can be highly profitable if the marketer pays attention and satisfies those customers' needs.

Volvo is most known for which of the following?

When you are writing a positioning statement, if you don't have real differences and cannot see a way to create them, then you can create a difference based on ________.

Which of the following questions characterizes targeting?

If a market segment looks attractive, and serving that segment fits our corporate abilities, then we should _______.

What do the letters of USP represent?

Regarding the phrase "time is money," what type of effect does time seemingly have on money?

Shannon is struggling to communicate who Company ABC is compared to the competition. Shannon wants to communicate that Company ABC's brand has the benefits that the target market will value. Shannon is engaged in what marketing activity?

Newlyweds are most likely to spend money on which of the following?

Some customers are ___________, caring about new developments in their category and seeking out new products.

Company ABC segments customers by gender, age, education, and income. Company ABC's segmentation is based on _______ factors.

As segments increase in size, it becomes _______ to satisfy them with the same product.

Some customers are currently using a competitor's brand or aren't even purchasers in a certain category at all. It is _____ for marketers to identify these people.

For market sizing, we start with the _______, and break it down into the ______ that are relevant.

Regarding targeting, we iterate between our ________ vision of corporate strategy, and a ________ data-informed approach on segment size and profitability.

Marketers identify segments best when iterating between two approaches. What are the two approaches?

Marketers target certain segments because it's _______ to try to be all things to all people.

A popular tool for segmenting that uses psychographic data, and that is based on the belief that one's attitudes and value system determine one's orientation to certain products and/or brands is called ______.

A positioning statement should address your target segment. Anything else you'll say in the positioning statement will have _______ meaning to customers who are not in that segment.

Which of these companies uses a strategy of customer intimacy?

Some customers are known for their expertise and involvement in a category and are willing to share information and give advice, making them likely to generate word of mouth. These people are knows as market ______.

__________ means that each customer serves as his or her own segment. This approach sounds appealing from the customer point of view because the product would be tailored specially for each person's idiosyncratic desires.

Young adults are most likely to be interested in which of the following?

Which of the following is NOT a geographic factor?

Opportunities and threats are usually driven by changes in one of the _____.

There is a rule of thumb that says it costs ______ times more to acquire a new customer compared to maintaining a loyal one.

When it comes to market sizing, things tend to be a bit _______ B2B sellers compared to B2C sellers.

Which of the following is a psychological factor?

Company ABC's brands and products have perceived strengths, and its marketing department needs to consider what they can do to assure that these will be sustainable _____.

Which of the following is NOT one of the 5 Cs?

Potential profitability is a function of all of the following EXCEPT:

Corporate strengths should be assessed relative to a firm's competitors in order to understand customers and their _______.

Brands depicted as points in the map close together are those perceived as _______.

Determining which segments to target depends on an interplay between ______ issues.

If a company promotes broadly and heavily, they are probably looking to ______.

Entrepreneurs may need to approximate Prizm and Vals data, because they are ______.

The market for video games looks great, but your company only knows how to make thumb drives. This scenario is associated with which quadrant in a SWOT analysis?

Which of the following is Volkswagen's long-running advertising tagline?

Weaknesses are _____.

Positioning involves which of the marketing mix variables?

Jen is developing the positioning statement for a new line of sunglasses. In a meeting, the marketing team tells Jen that she has succinctly and clearly expressed the competitive advantage of the new sunglasses brand. The team approves of the way Jen wants to express the brand's competitive advantage, and tells her to continue her work on fully developing the positioning statement. Which element of crafting the positioning statement has Jen's team just approved?

When writing a positioning statement, it is a good idea to abstract from the level of the brand's attributes to the _______ benefits to the customer.

Which of the following combinations doesn't make very much sense?

To write a positioning statement, you should answer all of the following questions EXCEPT:

The USP concept captures two things. One is how does your market offering dominate these other providers. What is the other?

Positioning is mostly about ________.

Dom is reviewing a perceptual map that compares a number of jeans brands based on customer survey data. Five of the eight brands are depicted as points close together on the map. A logical conclusion Dom can draw from this perceptual map is ________.

In his books on Competitive Strategy, ________ discusses generic strategies driven by keeping costs down and prices competitive, leading by differentiation (e.g., excellence in quality or innovation), or when appropriate, niche positioning.

Who originally described the three basic corporate strategies to creating value and achieving market stature?

Which of the following is NOT one of three basic corporate strategies for creating value and achieving market stature?

In analyzing perceptual maps, one question always on the marketer's mind is:

Which of these companies uses a product leadership strategy?

Operational excellence refers to companies that ________.

Which of the following is NOT true based on this perceptual map?

Which of these companies uses a strategy of operational excellence?

Which of the following positioning combinations makes the most sense?

"Where happiness means the world," is the positioning statement for which of the following?

"Broadcast Yourself" is what website's positioning statement?

Once a company has decided upon its positioning, either for the corporation as a whole, or for one of its brands, it must be able to communicate _______ the parameters of that position to ______.

Considering a continuum from "mass marketing" to "one-to-one marketing," market segmentation is ________.

A service called Prizm posits that MBAs who live in New York have a lot more in common with their counterparts in London, Saö Paulo, and Tokyo, than they do with their neighbors in New York who are relatively less educated or wealthy. This is an example of what types of information being combined?

Which of the following is NOT a psychological factor?

The managerial perspective is important with respect to assessing whether serving a specific ________ is consistent with overall corporate goals.

The positioning statement can serve as an internal memorandum keeping all managers aligned as a basic guiding principle in all their collective decisions, so as to enhance the likelihood of ______ in the results of those decisions.

Which of the following questions characterizes targeting?

When customers are assessing an attribute about a firm, such as ________ , an important thing to remember is that the defining dimensions vary among industries.

The contrast between mass marketing and one-to-one marketing illustrates that segments become more _______ as they increase in size.

If one element of an iterative segmentation is a smart marketer, what is the other?

Which calculation is the most accurate way to estimate the size of a market?

Company ABC is developing a marketing strategy for a new cell phone product and just discovered that ABC's biggest competitor is launching a very similar product at almost exactly the same time. In a SWOT analysis, the competitor's product would be a(n) _____.

Which of the following is NOT one of three basic corporate strategies for creating value and achieving market stature?

Businesses plan for and interact differently with their larger clients than with their smaller ones. They assign more client service personnel and extend more relationship management efforts because these customers tend to be ________.

Company ABC is interested in better understanding how different groups of customers feel about its product. In order to do this, Company ABC will need to _____.

_______ is a type of segmentation in which the company strategically focuses on targeting a smaller market with particular needs that the company can serve well.

X Company ABC is attempting to project the growth rate for a new product market. In order to project the growth rate, the firm will first need to _______.

Threats are ______.

Opportunities are ______.

What are two perspectives in assessing each segment's attractiveness in terms of its potential for targeting?

Strengths are ______.

Dell uses which of the following strategies?

Regarding the phrase "time is money," what type of effect does time seemingly have on money?

Company ABC operates a nail salon that specializes in artificial nails. It has two primary ______, women who get their nails done infrequently (i.e., once or twice per year), and women who continuously wear fake nails.

A(n) __________ segment is always a tempting one for marketers to target because marketers assume that those customers can afford to purchase their goods or services.

Potential strategic fit is a function of all of the following EXCEPT:

_______ means that all customers are treated the same. This approach might sound attractive because it simplifies the marketing task, but it is usually unrealistic because customers differ.

A CEO is considering how he wants his company to be positioned. He has thought of it as "the coolest brand" and also the one with the best value. Which of the following is true about his predicament?

The idea of targeting is merely one of __________.

What does the 80:20 rule say?

The more precisely defined the target market is, the _____ the numbers are to estimate.

One behavioral segment of great importance to the marketer is the _______ of the focal brand because it is relatively easy to communicate to this group.

_________ in perceptual maps offer(s) intriguing possibilities for new market opportunities.

The fact that snow blowers tend to sell better in the north than in the south illustrates the importance of considering ______ in marketing planning.

Company XYZ is considering launching a new MP3 player product. It has sized the market and it looks attractive; however, the company would also be wise to predict the _______ of the market to better assess its attractiveness.

Marketers try to serve the segments whose needs match their _______, and in doing so hope to make very happy and loyal customers who will be very profitable.

Instead of trying to appeal to the entire marketplace, smart marketers and smart companies will try to find out ______.

Nordstrom uses which of the following strategies?

It's not unusual to see a segmentation study comprised of some usage variable (e.g., heavy vs. light users) or some attitudinal variable (e.g., positively inclined toward our brand vs. loyal to a competitor). What type of variable is it usually cross-tabbed with?

Empty nesters tend to start dreaming of spending their greater discretionary income on ____.