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Exam 7: Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

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Question 31

Multiple Choice

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________ can be a poor predictor of a person's health, work or family status, needs, or buying power.

A) Occupation
B) Education
C) Ethnicity
D) Religion
E) Age

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Question 32

Multiple Choice

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Marketers often segment international markets according to the type and stability of government. In such instances, they segment markets based on ________.

A) geographic location
B) economic factors
C) cultural factors
D) political factors
E) sociocultural factors

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Question 33

Multiple Choice

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Gilron Holidays runs a premium membership club that caters to customers whose annual salary exceeds $100,000. Members of this club are offered seasonal discounts at select luxury hotels in select cities worldwide. Gilron Holidays most likely follows a(n) ________ segmentation approach.

Papillon, a popular retailer of chic women's clothing, segments its market according to consumer lifestyles. Papillon most likely uses ________ segmentation for segmenting its market.

Product differentiation refers to the way a product is defined by consumers on important attributes-the place the product occupies in consumers' minds relative to competing products.

Marketers usually limit their segmentation analysis to only one major variable.

The winning value proposition would be to offer ________.

An American cola-manufacturing company that primarily targets rebellious and adventurous people most likely uses ________ segmentation.

Which of the following is true about multivariable segmentation systems?

________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Tropicana promotes drinking orange juice at any time of day as a cool, refreshing drink. The market segmentation approach Tropicana is using is ________.

Which of the following refers to a cultural factor in the context of segmenting international markets?

Anchor Tractors focuses on selling its farm equipment in North America and Europe. It has not yet considered expanding into the Middle East. Which factor is likely most important in this decision regarding expansion?

A catalog retailer in the United States has identified African American professionals between the ages of 35 and 45 as a group of potential customers for its products. The retailer plans to direct its marketing efforts toward this group of consumers. Which of the following market segmentation variables did the catalog retailer most likely use?

To the extent that a company can differentiate and position itself as providing superior customer value, it gains competitive advantage.

Market segments that can be effectively reached and served are ________.

A market segment that is large enough or profitable enough to serve is ________.

Demographic segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product.

________ consists of evaluating each market segment's attractiveness and selecting one or more segments to enter.

List some important factors that companies need to consider when choosing a market-targeting strategy.