Chapter 7: Segmenting, targeting, and Positioning

Question 0

This process involves choosing segments to address based on matching the firm’s strengths to the segments that will place the greatest value on these strengths and yields the greatest success.

Answer 0

targeting

Question 1

Creation of greater value for targeted customers than is offered by competitors and the communication of that difference relative to the offerings aimed at the target market segment

Answer 1

Positioning

Question 2

a method of segmentation used in understanding a given market

Answer 2

segmentation framework

Question 3

What characteristics are important when segmenting markets?

Answer 3

homogenous needs or buyer behavior

Question 4

Establishes the framework for the marketing strategy

Answer 4

Positioning

Question 5

Smaller segments ___ the number of customers that one ofering must satisfy

Answer 5

reduce

Question 6

Segmentation allows firms to bring more ___ to business customers through their offerings

Answer 6

value

Question 7

Used to understand the size, value needs, and purchasing characteristics of a particular segment

Answer 7

measurability

Question 8

Measure of the marketer’s ability to communicate with the market segment and reach them with distribution channels

Answer 8

accessibiity

Question 9

Implies that a market segment that desires a particular value offering is profitable enough to serve differentially from other segments

Answer 9

Substantiality

Question 10

Measure of the capabilities of the organization to create a total offering with a competitive advantage

Answer 10

Actionability

Question 11

What contributes to the differentiation of an offering that involves the same product in multiple market segments?

Answer 11

economic utility, form, time, place, and possession

Question 12

What are the bases for segmentation?

Answer 12

By product offered
By geographic region
By industry
By size of customer's company
By size of account
By buying behavior or preferences
By technology used by the customer
By process and supply chain requirements

Question 13

This approach to determining a segmentation framework employe research and data interpretation to derive a segmentation framework

Answer 13

Analytic approach

Question 14

What is the NAICS

Answer 14

North American industry Classification System

Question 15

Successful innovation translation cannot create a new market segment: T or F

Answer 15

F

Question 16

What is one barrier to innovation translation?

Answer 16

Resistance encountered due to marketer’s prior relationship with one of their competitors

Question 17

Thus type of approach only exists because a customer pulled technology through a relationship with a supplier

Answer 17

Innovation Translation

Question 18

Suppliers whose offerings require significant customer education to take full advantage of the offering will employ a _____ marketing team to educate customers

Answer 18

Field marketing Team

Question 19

Which approach should be used when the marketer faces a market with many customers or when the marketer is looking to enter a new market in which his company has little or no experience ?

Answer 19

Analytic approach

Question 20

Which is a more attractive market. One that is large and is growing fast, or one that is smaller and slower-growing?

Answer 20

One that is large and growing fast

Question 21

When is a market segment competitively attractive?

Answer 21

When there are significant barriers to entry for other competitors.

Question 22

What two factors represent the least attractive channels?

Answer 22

Segments that have no suitable channels addressing them currently and for which development of new channels would be difficult and those segments for which well-established channels exist with one or few dominant channel members.

Question 23

How do supply chains create value in lower costs?

Answer 23

By mitigating the bullwhip effect

Question 24

What happens as a product category enters maturity?

Answer 24

The cost, time, and place benefits provided by an integrated supply chain are likely to increase

Question 25

Identifies the company’s current core competencies and those that it is building for the future?

Answer 25

The marketer’s environmental analysis

Question 26

`Which segments should a firm start with when choosing target segments?

Answer 26

Firms should start with the most attractive segments

Question 27

is it a good idea to use both the analytic and translation approach in combination when determining which segments to serve?

Answer 27

Yes, a firm can benefit from utilizing both approaches when determining the segments that it wants to serve with its offerings.

Question 28

Each target market’s members have ______ dimensions that are most important to them and are likely part of the defining parameters of the segment.

Answer 28

value dimensions

Question 29

Where does positioning occur?

Answer 29

Positioning occurs in the mind of the prospect or customer

Question 30

Succinct statement of the positioning the company hopes to achieve in the minds of its target customers.

Answer 30

Positioning statement

Question 31

Moore obsevred what about markets for innovation?

Answer 31

markets for innovation evolve in a regular pattern

Question 32

When a marketer uses the TALC as a guideline for segmenting, targeting, and positioning…

Answer 32

A strategy of innovation translation creates a focused process that identifies potential customer niches

Question 33

A segment that has relatively well defined boundaries

Answer 33

Niche segment

Question 34

Groups of products that are sold together or that address similar market segments

Answer 34

Product Lines

Question 35

As members of buying centers go to other companies in other segments as their careers progress they take their beliefs along with them and expect suppliers to provide similar types of value across segments

Answer 35

Cross fertilization

Question 36

A product in the line that is well-known and conveys positioning for the whole line

Answer 36

Flagship product