when everyone can be considered a potential user of the product and benefits are similar
T/F: When deciding how to promote his new medical oncology center, Dr. Jones decided that he did not need to throw a large grand opening reception. Instead, he promoted the center to the internal medicine doctors in the area, who were the doctors most likely to refer patients to the center. Dr. Jones was engaged in a concentrated targeting strategy.
True
concentrated target strategy is one where the organization selects a single target market.
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“ She followed all my directions. It was really easy to contact her and respond very fast as well. ”
Alex has found that both commercial and residential real estate buyers respond positively to his marketing communicationmessage. 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.
differentiated target
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.
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.
psychographic
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.
Benefit
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.
geodemographic
uses PRIMZ and ESRI
useful for retailers
a strategy of investing in loyalty initiatives to retain the firms most profitable customers
loyalty segmentation
used because there is a high cost to find new customers
step 3 of STP
evaluate attractiveness of segments
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.
positioning
negative: might confuse the customer unless a clear distinction is made
Updated: Feb 22, 2021
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Marketing chapter 9 bank. (2018, Jan 02). Retrieved from https://studymoose.com/marketing-chapter-9-bank-essay
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