MARKETING AN INTRODUCTION
(ARMSTRONG) CHAPTER 6 TEST BANK
WITH 72 QUESTIONS AND CORRECT
ANSWERS 2024/2025 RATED A+
Market Segmentation - ANSWER-Involves dividing a market into smaller segments
of buyers with distinct needs, characteristics, or behaviors that might require
separate marketing strategies or mixes.
Market Targeting - ANSWER-Consists of evaluating each market segment's
attractiveness and selecting one or more market segments to enter.
4 Steps in Designing a Customer-driven Marketing Strategy - ANSWER-Market
segmentation
Market targeting
Differentiation
Positioning
Consumer-driven Marketing - ANSWER-Companies research customers deeply to
learn about their desires, gather new product ideas, and test product
improvements.
, Target Marketing - ANSWER-Identifying market segments, selecting one or more
of them, and developing products and marketing programs tailored to each.
Differentiation - ANSWER-Involves actually differentiating the firm's market
offering to create superior customer value.
Positioning - ANSWER-Consists of arranging for a market offering to occupy a
clear, distinctive, and desirable place relative to competing products in the minds
of target consumers.
Segmentation Variables - ANSWER-Geographic
Demographic
Psychographic
Behavioral
Geographic Segmentation - ANSWER-Calls for dividing the market into different
geographical units, such as nations, regions, states, counties, cities, or even
neighborhoods.
Demographic Segmentation - ANSWER-Divides the market into segments based
on variables such as age, life-cycle stage, gender, income, occupation, education,
religion, ethnicity, and generation.
Age and Life-cycle Segmentation - ANSWER-Offering different products or using
different marketing approaches for different age and life-cycle groups.
(ARMSTRONG) CHAPTER 6 TEST BANK
WITH 72 QUESTIONS AND CORRECT
ANSWERS 2024/2025 RATED A+
Market Segmentation - ANSWER-Involves dividing a market into smaller segments
of buyers with distinct needs, characteristics, or behaviors that might require
separate marketing strategies or mixes.
Market Targeting - ANSWER-Consists of evaluating each market segment's
attractiveness and selecting one or more market segments to enter.
4 Steps in Designing a Customer-driven Marketing Strategy - ANSWER-Market
segmentation
Market targeting
Differentiation
Positioning
Consumer-driven Marketing - ANSWER-Companies research customers deeply to
learn about their desires, gather new product ideas, and test product
improvements.
, Target Marketing - ANSWER-Identifying market segments, selecting one or more
of them, and developing products and marketing programs tailored to each.
Differentiation - ANSWER-Involves actually differentiating the firm's market
offering to create superior customer value.
Positioning - ANSWER-Consists of arranging for a market offering to occupy a
clear, distinctive, and desirable place relative to competing products in the minds
of target consumers.
Segmentation Variables - ANSWER-Geographic
Demographic
Psychographic
Behavioral
Geographic Segmentation - ANSWER-Calls for dividing the market into different
geographical units, such as nations, regions, states, counties, cities, or even
neighborhoods.
Demographic Segmentation - ANSWER-Divides the market into segments based
on variables such as age, life-cycle stage, gender, income, occupation, education,
religion, ethnicity, and generation.
Age and Life-cycle Segmentation - ANSWER-Offering different products or using
different marketing approaches for different age and life-cycle groups.
