PRINCIPLES OF MARKETING 17TH EDITION
EXAM REVIEW TESTED QUESTIONS WITH
100 PERCENT CORRECT ANSWERS
◉ Differentiation
Answer: Differentiationg the market offering to create superior
customer value.
◉ Positioning
Answer: Arranging a market offering to occupy a clear, distinctive
and desirable place relative to competing products in the minds of
target consumers.
◉ Geographic Segmentation
Answer: Dividing a market into different geographical units, such as
nations, states, regions, counties, cities, or even neighborhoods.
◉ Target Market
Answer: A set of buyers sharing common needs or characteristics
that the company decides to serve.
◉ Target Market Vs. Segmentation
, Answer: Divide into segments, then choose the ones to target. The
decision is the key.
◉ Product Position
Answer: The way a product is defined by consumers on important
attributes. -The place a product occupies in consumers minds
relative to competing products.
◉ Positioning Statement (Define)
Answer: A statement that summarizes company or brand
positioning using this form: To (Target segment and need) our
(Brand) is (concept) that (point of difference).
◉ positioning statement
Answer: Use this to sum up a company and brand positioning.
◉ Subculture
Answer: A group of people with shared value systems based on
common life experiences and situations.
◉ Hispanic American Consumers
Answer: Large fast growing market of 55 million consumers who are
deeply family oriented and make shopping a family affair.
EXAM REVIEW TESTED QUESTIONS WITH
100 PERCENT CORRECT ANSWERS
◉ Differentiation
Answer: Differentiationg the market offering to create superior
customer value.
◉ Positioning
Answer: Arranging a market offering to occupy a clear, distinctive
and desirable place relative to competing products in the minds of
target consumers.
◉ Geographic Segmentation
Answer: Dividing a market into different geographical units, such as
nations, states, regions, counties, cities, or even neighborhoods.
◉ Target Market
Answer: A set of buyers sharing common needs or characteristics
that the company decides to serve.
◉ Target Market Vs. Segmentation
, Answer: Divide into segments, then choose the ones to target. The
decision is the key.
◉ Product Position
Answer: The way a product is defined by consumers on important
attributes. -The place a product occupies in consumers minds
relative to competing products.
◉ Positioning Statement (Define)
Answer: A statement that summarizes company or brand
positioning using this form: To (Target segment and need) our
(Brand) is (concept) that (point of difference).
◉ positioning statement
Answer: Use this to sum up a company and brand positioning.
◉ Subculture
Answer: A group of people with shared value systems based on
common life experiences and situations.
◉ Hispanic American Consumers
Answer: Large fast growing market of 55 million consumers who are
deeply family oriented and make shopping a family affair.
