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Marketing Chapter 6: Identifying Target Customers

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Marketing Chapter 6: Identifying Target Customers

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Questions and Answers

What is the primary goal of targeting in marketing?

To identify customers for whom the company will optimize its offering (correct)

To sell different products to all market segments

To mass-produce products at the lowest cost

To create a single product for the entire market

What is the main difference between mass marketing and target marketing?

Mass marketing ignores segment differences, while target marketing focuses on different segments (correct)

Mass marketing is more expensive than target marketing

Mass marketing focuses on quality, while target marketing focuses on quantity

Mass marketing is more effective for small businesses, while target marketing is more effective for large businesses

What is the term for a company's ability to meet each customer's individual requirements on a mass basis?

Mass production

One-to-one marketing

Target marketing

Mass customization (correct)

What is the focus of strategic targeting?

Identifying customers whose needs the company can fulfill (C) Signup and view all the answers

What is a key factor in evaluating target compatibility?

The company's ability to create superior value for target customers (C) Signup and view all the answers

What is a key factor in evaluating target attractiveness?

The target customers' ability to create superior value for the company (A) Signup and view all the answers

What is the primary goal of targeting market segments?

To create a distinctive mix of benefits for customers (B) Signup and view all the answers

What is the main purpose of developing a customer profile?

To align customer value with customer profile (C) Signup and view all the answers

What is the concept of customer value based on?

The difference between the customer's perceived benefits and costs (D) Signup and view all the answers

What is the primary purpose of market segmentation?

To divide the market into smaller, more manageable groups (D) Signup and view all the answers

What is the primary focus of niche marketing?

Focusing on smaller, well-defined groups of customers (B) Signup and view all the answers

What is the purpose of CVA (Customer Value Analysis)?

To reveal the company's strengths and weaknesses relative to its competitors (C) Signup and view all the answers