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Questions and Answers
Which of the following is NOT a factor that determines price?
Which of the following is NOT a factor that determines price?
Promotional push strategies focus on creating consumer demand directly.
Promotional push strategies focus on creating consumer demand directly.
False
What type of marketing channel directly deals with customers?
What type of marketing channel directly deals with customers?
Direct channels
Promotional ______ strategies involve spending on advertising to create demand among consumers.
Promotional ______ strategies involve spending on advertising to create demand among consumers.
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Match the following terms with their definitions:
Match the following terms with their definitions:
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What is a competitive advantage?
What is a competitive advantage?
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Market segmentation involves dividing a market into distinct groups with common needs.
Market segmentation involves dividing a market into distinct groups with common needs.
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What factors contribute to competitive advantage?
What factors contribute to competitive advantage?
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The process of selecting a target market involves ______ and positioning.
The process of selecting a target market involves ______ and positioning.
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Match the types of market segmentation with their descriptions:
Match the types of market segmentation with their descriptions:
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Which of the following is NOT a benefit of conducting a competitive analysis?
Which of the following is NOT a benefit of conducting a competitive analysis?
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Target market selection has no impact on a firm’s advertising efforts.
Target market selection has no impact on a firm’s advertising efforts.
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What is the first step in the target marketing process?
What is the first step in the target marketing process?
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What is one key role of an integrated marketing program?
What is one key role of an integrated marketing program?
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Market segmentation only involves identifying distinct consumer groups without considering their common needs.
Market segmentation only involves identifying distinct consumer groups without considering their common needs.
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What are market opportunities?
What are market opportunities?
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A __________ marketing plan evolves from an organization’s overall corporate strategy.
A __________ marketing plan evolves from an organization’s overall corporate strategy.
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Match the marketing terms with their correct descriptions:
Match the marketing terms with their correct descriptions:
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Which of the following is NOT a step in identifying market opportunities?
Which of the following is NOT a step in identifying market opportunities?
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The main goal of repositioning strategies is to eliminate competition.
The main goal of repositioning strategies is to eliminate competition.
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What is the significance of understanding market segments in an IMC program?
What is the significance of understanding market segments in an IMC program?
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Which market segmentation strategy groups consumers based on their personality and lifestyle?
Which market segmentation strategy groups consumers based on their personality and lifestyle?
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The 80-20 rule indicates that 80 percent of buyers account for 20 percent of sales volume.
The 80-20 rule indicates that 80 percent of buyers account for 20 percent of sales volume.
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Name one factor that can divide markets by buying situations.
Name one factor that can divide markets by buying situations.
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In _____ marketing, the strategy involves marketing in several segments with separate approaches for each.
In _____ marketing, the strategy involves marketing in several segments with separate approaches for each.
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What is the primary benefit of concentrated marketing?
What is the primary benefit of concentrated marketing?
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Benefit segmentation groups consumers based on the product attributes they seek.
Benefit segmentation groups consumers based on the product attributes they seek.
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What factors should be considered when selecting the most attractive market segment?
What factors should be considered when selecting the most attractive market segment?
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What is positioning primarily concerned with?
What is positioning primarily concerned with?
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Positioning by product attributes focuses solely on price.
Positioning by product attributes focuses solely on price.
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What is an example of a brand that focuses on consumer benefits for its positioning strategy?
What is an example of a brand that focuses on consumer benefits for its positioning strategy?
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Positioning by _____ associates a brand with a type of person or group that uses a product or service.
Positioning by _____ associates a brand with a type of person or group that uses a product or service.
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Which positioning strategy is focused on competing with other brands?
Which positioning strategy is focused on competing with other brands?
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Match the following positioning strategies with their descriptions:
Match the following positioning strategies with their descriptions:
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Using positioning by cultural symbols can help in differentiating a brand.
Using positioning by cultural symbols can help in differentiating a brand.
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In positioning by product attributes, what are salient attributes?
In positioning by product attributes, what are salient attributes?
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What is the primary purpose of competitor positioning?
What is the primary purpose of competitor positioning?
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Repositioning is easy to accomplish because consumers are always open to change.
Repositioning is easy to accomplish because consumers are always open to change.
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What does product symbolism refer to?
What does product symbolism refer to?
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Brand identity is a combination of name, logo, symbols, design, packaging, image, and __________ held by consumers.
Brand identity is a combination of name, logo, symbols, design, packaging, image, and __________ held by consumers.
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Match the following branding concepts with their descriptions:
Match the following branding concepts with their descriptions:
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What is a key factor that has changed the role of packaging in recent years?
What is a key factor that has changed the role of packaging in recent years?
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Cultural symbols are used in branding to help differentiate products.
Cultural symbols are used in branding to help differentiate products.
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What functional benefits has packaging traditionally provided?
What functional benefits has packaging traditionally provided?
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Study Notes
Chapter 2: The Role of IMC in the Marketing Process
- Learning objectives include describing the role of advertising and promotion in integrated marketing programs, defining target marketing, discussing market segmentation in IMC programs, describing positioning and repositioning strategies, and identifying marketing-mix decisions influencing advertising and promotional strategy.
Marketing and Promotions Process Model
- The model outlines a process from marketing strategy and analysis to target marketing process to marketing planning, program development, and finally, to reaching the target market and purchase.
- Various aspects like opportunity analysis, competitive analysis, target marketing, market segmentation, pricing, product decisions, channel of distribution decisions, positioning, and promotional decisions, are included.
- Ultimate consumers and businesses are targeted, as well as wholesalers and retailers.
Marketing Strategy and Analysis
- A strategic marketing plan guides resource allocation, specific marketing programs, and policies.
- This plan is derived from the overall corporate strategy.
- It helps understand market opportunities, competition, and segments.
- Market segments are distinct consumer groups with shared needs within a larger market.
Opportunity Analysis
- Market opportunities are areas where favorable demand trends exist, and customers' needs are not met.
- Firms identify these opportunities by examining the marketplace and observing trends and competition in different segments.
Competitive Analysis
- Understanding the competition in the marketplace is key to identifying competitive advantages.
- Competitive advantages can include high-quality products, excellent customer service, lower costs and prices, dominating distribution channels, strong advertising (e.g., Samsung vs. Apple).
Target Market Selection
- Target market selection follows market opportunity and competitive analysis.
- It directly impacts advertising and promotional efforts.
- The process involves determining which segment(s) to target and the best strategy for that target market.
The Target Marketing Process
- The target marketing process proceeds from identifying markets with unfulfilled needs to determining market segmentation to selecting a target market and finally to positioning through marketing strategies.
Identifying Markets
- Marketers identify specific needs within a group or segment.
- They then select one or more of these segments to target, focusing on consumers with similar lifestyles, needs, and other relevant characteristics.
Market Segmentation
- Markets are broken down into distinct groups based on shared needs and similar responses to marketing situations.
- Customer characteristics are used to segment the market, such as geographic, demographic, socioeconomic, and psychographic factors (e.g., region, age, income, lifestyle).
Buying Situations
- Markets can be segmented based on customer buying situations, including outlet type, benefits sought, usage, awareness, and behavioural characteristics.
Basis for Market Segmentation
- Behavioral segmentation includes dividing consumers based on usage, loyalty, or their buying responses to a product; the 80-20 rule highlights a significant portion of sales volume accounted for by a small portion of buyers.
- Benefit segmentation targets consumers based on product attributes and features they seek.
Selecting Target Market
- Businesses decide how many segments to enter, using market coverage alternatives, to focus on segments offering the most potential and select the most attractive segment.
Market Coverage Alternatives
- Undifferentiated marketing targets the entire market without segmenting.
- Differentiated marketing involves individual strategies across different segments.
- Concentrated marketing focuses on one segment to achieve high market share.
Selecting the Most Attractive Segment
- Factors for evaluating market segment attractiveness include sales potential, growth opportunities, competition, ability to compete, and ability to market to the targeted group.
Market Positioning
- Positioning involves fitting a product or service into a specific segment within a broad market, making it distinctive.
- Approaches involve focusing on consumer benefits or comparing a product's benefits to competitors'.
Positioning Strategies
- Positioning strategies rely on product attributes and benefits (differentiating the product from the competition), price and quality (perceived value), and use or application, the product class, the product user, the competitor, and cultural symbols.
Repositioning
- Repositioning alters a product or brand's position in the market due to declining or stagnant sales or anticipated opportunities.
- It's challenging due to existing perceptions and attitudes towards the product or brand.
Product Decisions
- Product symbolism refers to what a product or brand represents for consumers, including their purchasing and use experiences.
- Branding builds and maintains a favorable identity for a company and its products.
- Packaging offers functional benefits like economy, protection, and storage.
Branding
- Branding builds brand awareness, interest, and favorable attitudes towards the company's products.
- Brand identity includes factors like name, logo, design, packaging and associations held by consumers.
- Brand equity is an intangible asset that adds value.
Packaging
- Packaging traditionally has a functional role in economy, protection, and storage.
- Its role has expanded due to self-service in stores, and its impact on buying decisions at the point of purchase.
Price Decisions
- Price is the consumer's exchange for a product or service.
- Cost, demand, competition, perceived value, product quality, and advertising are key factors in determining price.
Marketing Channels
- Marketing channels involve interdependent organizations making a product or service accessible for use.
- Direct channels deal directly with customers (e.g., Internet marketing, direct-response ads).
- Indirect channels use wholesalers and retailers.
Promotional Push Strategies
- Push strategies persuade trade to stock and promote products.
- The goal is to push the product through channels of distribution.
- Trade advertising motivates wholesalers and retailers to purchase for resale.
Promotional Pull Strategies
- Pull strategies focus on advertising and sales promotions directed towards ultimate consumers to encourage demand and direct consumers to request the product from retailers.
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Description
Test your knowledge on key marketing concepts such as price factors, promotional strategies, and market segmentation. This quiz covers definitions, competitive advantages, and the target marketing process. Perfect for students looking to solidify their understanding of marketing fundamentals.
