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Marketing - Week 3 - Chapter 7
Use the 41 quiz questions to prepare yourself and test whether you know the subject matter.
Preview (8 of the 41 quiz questions)
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DownloadTo make key customer value-driven marketing strategy decisions you need to have a look on?
Flip card
- Segmentation: dividing markets into meaningful customer groups.
- Targeting: choosing which customer groups to serve.
- Differentiation: creating market offerings that best serve targeted customers.
- Positioning: positioning the offerings in the minds of consumers.
- Planning: planning and agility as a competitive advantage.
What is a market?
Flip card
An aggregate of people who, as individuals, or within organization, have a need for certain products and the ability, willingness and authority to purchase such products.
What are requirements for a group of people to be a market?
Flip card
- They must need or want a particular product or service.
- They must have the ability to purchase the product or service.
- They must be willing to use their buying power.
- They must have the authority to buy the specific products or services.
Because there are so many different market segments, you need to capture more of the market, using the (customer focused) STP process. What is STP?
Flip card
1. Segmentation
2. Targeting
3. Positioning
What is segmentation?
Flip card
The process of dividing a market of potential customers into groups or segments, based on different characteristics.
There is rarely one best way to segment a market. The chosen variables should relate to customers needs. What are ways to segment with variables?
Flip card
- One-to-one marketing: customized marketing engaging individual customers for the development of longer-term relationships. Sounds good but cost a lot of resources.
- Single variable segmentation: segmentation achieved by using only one variable, the simplest type of segmentation to perform (ex. income).
- Multivariable segmentation: segmentation using more than one characteristic to divide a total market (ex. income + volume usage).
What is benefit segmentation?
Flip card
The division of a market according to the benefits consumers want from the product, it is part of the behavioristic variables.
What are 5 variables for segmenting business markets?
Flip card
1. Company demographic or firmographic (company age, location, size)
2. Operating variables (technologies applied, product type used)
3. Purchasing approach (buying center structure, delivery, service, buying policies)
4. Situational factors (perceived risk, size of order, product application)
5. Personal characteristics of buyers (experience, lifestyle)
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To make key customer value-driven marketing strategy decisions you need to have a look on?
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Check answerAnswer:
- Segmentation: dividing markets into meaningful customer groups.
- Targeting: choosing which customer groups to serve.
- Differentiation: creating market offerings that best serve targeted customers.
- Positioning: positioning the offerings in the minds of consumers.
- Planning: planning and agility as a competitive advantage.
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Question:
What is a market?
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Check answerAnswer:
An aggregate of people who, as individuals, or within organization, have a need for certain products and the ability, willingness and authority to purchase such products.
Your answer:
input text value
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Question:
What are requirements for a group of people to be a market?
Enter answer:
Check answerAnswer:
- They must need or want a particular product or service.
- They must have the ability to purchase the product or service.
- They must be willing to use their buying power.
- They must have the authority to buy the specific products or services.
Your answer:
input text value
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Question:
Because there are so many different market segments, you need to capture more of the market, using the (customer focused) STP process. What is STP?
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Check answerQuestion:
What is segmentation?
Enter answer:
Check answerAnswer:
The process of dividing a market of potential customers into groups or segments, based on different characteristics.
Your answer:
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Question:
There is rarely one best way to segment a market. The chosen variables should relate to customers needs. What are ways to segment with variables?
Enter answer:
Check answerAnswer:
- One-to-one marketing: customized marketing engaging individual customers for the development of longer-term relationships. Sounds good but cost a lot of resources.
- Single variable segmentation: segmentation achieved by using only one variable, the simplest type of segmentation to perform (ex. income).
- Multivariable segmentation: segmentation using more than one characteristic to divide a total market (ex. income + volume usage).
Your answer:
input text value
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Question:
What is benefit segmentation?
Enter answer:
Check answerAnswer:
The division of a market according to the benefits consumers want from the product, it is part of the behavioristic variables.
Your answer:
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Question:
What are 5 variables for segmenting business markets?
Enter answer:
Check answerAnswer:
1. Company demographic or firmographic (company age, location, size)
2. Operating variables (technologies applied, product type used)
3. Purchasing approach (buying center structure, delivery, service, buying policies)
4. Situational factors (perceived risk, size of order, product application)
5. Personal characteristics of buyers (experience, lifestyle)
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Marketing - Week 3 - Chapter 7
Customer value-driven marketing strategy
Number
41 questions
Language
Nederlands
Made on
06-05-2024
Education
Universiteit / Radboud Universiteit Nijmegen / Business Administration
View all 41 quiz questions
-
To make key customer value-driven marketing strategy decisions you need to have a look on?
- Segmentation: dividing markets into meaningful customer groups.
- Targeting: choosing which customer groups to serve.
- Differentiation: creating market offerings that best serve targeted customers.
- Positioning: positioning the offerings in the minds of consumers.
- Planning: planning and agility as a competitive advantage. -
What is a market?
An aggregate of people who, as individuals, or within organization, have a need for certain products and the ability, willingness and authority to purchase such products. -
What are requirements for a group of people to be a market?
- They must need or want a particular product or service.
- They must have the ability to purchase the product or service.
- They must be willing to use their buying power.
- They must have the authority to buy the specific products or services. -
Because there are so many different market segments, you need to capture more of the market, using the (customer focused) STP process. What is STP?
1. Segmentation
2. Targeting
3. Positioning -
What is segmentation?
The process of dividing a market of potential customers into groups or segments, based on different characteristics. -
There is rarely one best way to segment a market. The chosen variables should relate to customers needs. What are ways to segment with variables?
- One-to-one marketing: customized marketing engaging individual customers for the development of longer-term relationships. Sounds good but cost a lot of resources.
- Single variable segmentation: segmentation achieved by using only one variable, the simplest type of segmentation to perform (ex. income).
- Multivariable segmentation: segmentation using more than one characteristic to divide a total market (ex. income + volume usage). -
What is benefit segmentation?
The division of a market according to the benefits consumers want from the product, it is part of the behavioristic variables. -
What are 5 variables for segmenting business markets?
1. Company demographic or firmographic (company age, location, size)
2. Operating variables (technologies applied, product type used)
3. Purchasing approach (buying center structure, delivery, service, buying policies)
4. Situational factors (perceived risk, size of order, product application)
5. Personal characteristics of buyers (experience, lifestyle) -
What is profiling?
-
The variables used in the profile are descriptors. What are these?
-
What are the stages in segmentation analysis?
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There must be real differences in the needs of consumers for the product or service. Dissimilar consumers should not be in the same. The segments revealed must be?
-
What are categories of segmentation variables?
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In all these segments you need to find patterns or clusters. What are the possibilities?
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What is targeting?
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When evaluating different market segments, a firm must look at which 3 factors?
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A segment is less attractive when?
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What is a target market?
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What is the undifferentiated/mass (or total market) approach?
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What is mass marketing?
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What is micromarketing?
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Micromarketing includes local marketing and individual marketing. What are those?
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What is differentiated marketing, also known as segmented marketing?
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What is concentrated (niche) marketing?
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What is one-to-one marketing?
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What tools can be used with targeting?
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What is the Ansoff's matrix?
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The Ansoff's matrix consists of?
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What is points of difference (PoD)?
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What is points of parity (PoP)?
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What is positioning?
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What is positioning about?
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Perceptual mapping is a tool that can be used when positioning. What is that?
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You can depict by choosing key characteristics as X and Y. Then, you can put the ideal image and current view somewhere on the axes. What is the step-by-step appraoch?
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The final stage is the determination of a suitable positioning statement.What is that?
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What is competitive advantage?
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How did Porter identify the generic routes to competitive advantage?
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What is customer value proposition/perceived customer value?
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What is a must for customer value proposition?
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Why is segmenting, targeting, positioning (STP) important?
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Why is a STP/marketing environment analysis alone not enough?
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