34 Questions
What is the primary focus of undifferentiated marketing?
Targeting the whole market with one offer
What is the key characteristic of differentiated marketing?
Designing separate offers for several different market segments
What is the main advantage of concentrated marketing?
Targeting a small share of a large market
What is micromarketing focused on?
Tailoring products and marketing programs to suit specific individuals and locations
Which type of marketing involves tailoring brands and promotion to the needs and wants of local customer groups?
Local marketing
What is another term for individual marketing?
One-to-one marketing
Which type of marketing is more expensive than undifferentiated marketing?
Differentiated marketing
What factor does the choice of target market depend on?
Product variability
What does concentrated marketing target?
A small share of a large market
What is the central focus of mass marketing?
Focusing on common needs rather than what’s different
What is the process of offering different products or using different marketing approaches for different age and life-cycle groups called?
Age and life-cycle stage segmentation
What is the division of the market based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality called?
Demographic segmentation
What is the division of the market into different geographical units such as nations, regions, states, counties, or cities called?
Geographic segmentation
What is the division of the market based on social class, lifestyle, or personality traits called?
Psychographic segmentation
What is the process of dividing buyers into different groups based on their knowledge, attitudes, uses, or responses to a product called?
Behavioral segmentation
Which segmentation divides the market into affluent, middle-income or low-income consumers?
Demographic segmentation
What consists of a set of buyers who share common needs or characteristics that the company decides to serve?
Target market
What is used to identify smaller, better-defined target groups?
Using Multiple Segmentation Bases
What are convenience products?
Products and services that customers buy with minimum comparison and buying effort
What is the primary characteristic of unsought products?
Customers do not need them or do not know about them yet
What represents what buying the product or service will do for the customer?
Experiences
What is a service?
A product that consists of activities, benefits or satisfaction
What is micromarketing focused on?
Tailoring brands and promotion to the needs and wants of local customer groups
What type of products consist of activities, benefits or satisfaction that is essentially intangible?
Services
Which type of consumer products are characterized by unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort?
Specialty products
What type of products are purchased for further processing or for use in conducting a business?
Industrial products
Which type of marketing consists of activities undertaken to create, maintain, or change attitudes and behavior of target consumers toward particular places?
Place marketing
What product or service attribute communicates and delivers the benefits of the product?
Product features
Which level of quality supports the product’s positioning?
Product quality level
What is the use of commercial marketing concepts and tools in programs designed to influence individuals’ behavior to improve their well-being and that of society?
Social marketing
Which type of consumer products do consumers not know about or know about but do not normally think of buying?
Unsought products
What consists of activities undertaken to create, maintain, or change attitudes and behavior of target consumers toward an organization?
Organization marketing
What are consumer products that the customer compares carefully on suitability, quality, price, and style?
Shopping products
Which type of industrial products aid in the buyer’s production or operations?
Capital items
Test your knowledge on market segmentation and creating value for target customers in customer-driven marketing strategies. Explore the segmentation of consumer and international markets, along with the requirements for effective segmentation.
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