MKT327-Module 13 – Flashcards
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-A _____ defines the characteristics consumers associate with a brand based on important attributes
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Product position
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Which of the following is one of the criteria for selecting a segmentation strategy as opposed to selecting a segmentation?
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Company resources, stage in life cycle, market behavior
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Which of the following strategic framing decisions frames or produces a guideline for who will be marketed to?
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Segmentation
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Which of the following is one of the criteria for selecting a segment as opposed to selecting a segmentation strategy?
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Market size, compatibility issues, cost and efficiency issues
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Which of the following defines a skeleton marketing plan?
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a generic marketing program outlining the basic actions thats should be taken in terms of the marketing mixlity issues, cost and efficiency issues, In its ad, Meijer says "Why Pay More."
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-In order to ___ and maximize ___ within the next 5 years,
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Mission and Strategic decision (corporate philosophy)
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Which of the following statements about market segmentation and mass customization is true?
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Mass customization is consistent with good target marketing
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Which of the following is an alternative course of action for a segmentation strategy?
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Change product's rating on an attribute
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Which of the following would be the primary reason for using a concentrated segmentation or targeting strategy over a differentiation segmentation or targeting strategy?
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Company's resources
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Which of the following is an alternative course of action for a segmentation strategy?
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Change product's rating on an attribute
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Which of the following would be the primary reason for using a concentrated segmentation or targeting strategy over a differentiation segmentation or targeting strategy?
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Company's resources
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Which of the following is an alternative course of action for a segmentation strategy?
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Change product's rating on an attribute
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....using a ____ strategy while always adhering to ____
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Strategic direction (product-market expansion) AND Core values
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- a _____ segmentation or targeting strategy focuses a unique marketing mix strategy to each or most of the market segments available in the market
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Differentiated
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-Market segments are represented in a product map or perceptual map with which of the following?
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Ideal points'
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-Which of the following strategic framing decisions frames or produces a skeleton tactical marketing plan?
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Integrated marketing mix
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(t/f) A positioning strategy helps frame the needs, wants and meanings that will be marketed to the targeted segments
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True
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Which of the following is decision criteria for selecting a positioning strategy?
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Nature of demand, nature of market structure, level of competition
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Which of the following is one of the requirements for a marketing objectives statement to be effective? (check all that apply)
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-Specific -Realistic -Timed -Measurable
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Which of the following is one of the requirements for a marketing objectives statement to be effective?
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timed, achievable
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a ____ tactical marketing plan is a generic marketing program outlining the basic actions that should be taken in terms of the marketing mix
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Skeleton
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a ____ segmentation or targeting strategy focuses on the organization's marketing mix strategy on one very small market segment that most competitors ignore -niche
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niche
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Which of the following defines a differentiated segmentation or targeting strategy
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A segmentation or targeting strategy focusing a unique marketing mix strategy to each or most of the market segments available in the market
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Which of the following is decision criterion for both a segmentation strategy and positioning strategy?
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Level of Competition
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Ben Franklin University has segmented the market for the purpose of attracting high school graduates. They identified 11 distinct market segments. Their marketing approach is to do a mailing with the same message to graduating seniors in all 11 segments, followed up with a telephone call. Which targeting strategy is being used?
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Undifferentiated marketing
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Insignia is a private label brand of the Best Buy company... Which segmentation strategy would be most appropriate?
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Undifferentiation
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Which of the following is decision criteria for selecting a segmentation or targeting strategy?
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Nature of Market Behavior, Level of Competition
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Which of the following is an inappropriate use of positioning?
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The company addresses a market that contains several unique segments but uses one positioning map to represent the entire market.
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Which of the following represents the appropriate sequence of the three stages marketers use to connect with customers?
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Segmentation, Targeting, and Positioning
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(t/f) A segmentation strategy (or Targeted Strategy) helps frames the marketing mix actions required to achieve the desired market position
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false
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A ____ segmentation or targeting strategy focuses the organization's marketing mix strategy on one or only a few of many possible segments
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concentrated
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Which of the following defines a product or perceptual map?
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A diagram of how consumers in a segment perceive brands based on the attributes they view as important
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Which of the following is an alternative course of action for positioning strategy?
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demand focus
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Michigan Athletic Club has identified several distinct target markets for its services and has designed separate offerings for each. This is called:
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differentiated marketing
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Market is heterogeneous, company's resources are low, the nature of demand in the industry is selective, the product is in the growth stage of the life cycle, competition in the industry is high.
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concentrated
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Market is heterogeneous, company's resources are low, the nature of demand in the industry is selective, the product is in the mature stage of the life cycle, competition in the industry is high.
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Attribute Focus OR Market Focus
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Market is heterogeneous, company's resources are high, the nature of demand in the industry is selective, the product is in the growth stage of the life cycle, competition in the industry is high.
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differentiated
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-Jones Soda: In order to ____ and maximize_____ within the next five years.
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mission, brand equity
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Warm Delights: Which segmentation strategy would be the most appropriate?
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concentrated
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Companies that attempt to reach most or nearly all consumers with the same marketing approach use:
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mass marketing
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-Keurig since its inception in 1998, Keurig a division of Green Mountain Coffee Company, is now the 'King' of single serve coffee makers...'. After anextensive situation analysis, competitor analysis, and a target market analysis (but it was unable to conduct a segmentation analysis) it found the following results: -Market is heterogeneous 1. Company's resources are high 2. The nature of demand in the industry is selective. 3. The product is in the growth stage of the life cycle 4.Competition in the industry is high Which segmentation strategy would be most appropriate?
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differentiated
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Younger audiences might have the impression that Broadway plays are stuffy, unexciting, and old fashioned. This is in contrast with their perception that concerts are more upbeat and modern. Marketers for Broadway theater would more than likely benefit from using which of the following marketing strategies?
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repositioning
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When an organization selects one substantial market and directs its efforts at competing for those customers, it is which of the following targeting strategies?
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Concentrated marketing
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Which of the following defines an undifferentiated segmentation or targeting strategy?
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A segmentation or targeting strategy focusing a singular marketing mix strategy to all of the market segments available in the market.
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Which of the following defines an differentiated segmentation or targeting strategy?
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A segmentation or targeting strategy focusing a singular marketing mix strategy to all of the market segments available in the market.
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Keurig, since its inception in 1998, Keurig a division of Green Mountain Coffee Company, is now the 'King' of single serve coffee makers...'. The elements of its vision are listed below:
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-(SBU name—Keurig) will (strategic infrastructure—Build star) using a market development strategy,
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Which of the following is decision criteria for selecting a positioning strategy? (check all that apply)
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-Nature of Demand, Nature of Market Structure, Level of Competition
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(t/f) Marketing Objectives is one of the strategic framing decisions.
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false
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The total market is heterogeneous. This statement means the total market is:
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made up of many types of buyers
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Insignia is a private label brand of the Best Buy company. A dominant player in the mobile phone recharger market, it recently entered the USB drive market. Prior to its entry it implemented an extensive situation analysis, competitor analysis, and a target market analysis including a large segmentation analysis. It found the following results: 1.Market is homogeneous 2. Company's resources are high 3. The nature of demand in the industry is primary. 4. The product is in the mature stage of the life cycle 5. Competition in the industry is very highf Which positioning strategy would be most appropriate?
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demand focus
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Warm Delights is a leading product from Betty Crocker which is a division of General Mills that has been an icon in the food industry and in the homes of American since 1921. The elements of its vision are listed below: Complete the following sentence from the company's marketing objectives:
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SBU name, will strategic information using a product strategy
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