Exam (elaborations) MKT305 Principles of Marketing Chapter 7 Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

) Companies know they cannot appeal to all buyers in the marketplace, or at least not in the same way. Reasons for this include all of the following EXCEPT ________. A) buyers are too numerous B) companies vary widely in their abilities to serve different market segments C) buyers are varied in their needs and buying practices D) companies need more information to offer the right products to the right customers E) buyers are widely scattered Answer: D Skill: Concept Objective: LO 7.1: Define the major steps in designing a customer value-driven marketing strategy: market segmentation, targeting, differentiation, and positioning. Difficulty: Easy 2) ________ consists of evaluating each market segment's attractiveness and selecting one or more segments to enter. A) Positioning B) Mass customization C) Market targeting D) Market segmentation E) Differentiation Answer: C Skill: Concept Objective: LO 7.1: Define the major steps in designing a customer value-driven marketing