CHAPTER 2

Question 1

marketing concept that
breaks down into segments the customers based on
similarity.

Answer 1

MARKET SEGMENTATION

Question 2

increasingly important
part of a strong marketing strategy and can make
all the difference for companies in competitive
market landscapes, such as e commerce.

Answer 2

MARKET SEGMENTATION

Question 3

THE 4 BASIC TYPES OF SEGMENTATION

Answer 3

1. DEMOGRAPHIC
2. PYSCHOGRAPHIC
3. GEOGRAPHIC
4. BEHAVIORAL

Question 4

THREE APPROACHES IN MEETING THE NEEDS OF CUSTOMERS

Answer 4

1. UNDIFFERENTIATED STRATEGY
2. CONCENTRATED STRATEGY
3. DIFFERENTIATED STRATEGY

Question 5

all consumers are treated as the same, with companies not making any specific efforts to satisfy particular groups.

Eg. rice, sugar, rice

Answer 5

UNDIFFERENTIATED STRATEGY

Question 6

company chooses to focus, specialize and target only one segment of
the market while leaving other segments to competitors.

Eg. beauty parlor, Cebu Pacific

Answer 6

CONCENTRATED STRATEGY

Question 7

company is trying to sell two or more specific segments’ consumers that are treated in different ways.

Answer 7

DIFFERENTIATED STRATEGY

Question 8

Companies use (BLANK) to learn more about their consumers, this strategy is much more effective than mass marketing, as it targets the consumers most likely to interact with the brand or product, based on a buyer persona.

Answer 8

TARGET MARKETING

Question 9

TARGET STRATEGIES

Answer 9

1. DEMOGRAPHIC TARGETING
2. GEOGRAPHIC TARGETING
3. PYSCHOLOGICAL AND BEHAVIORAL TARGETING

Question 10

it helps all marketing efforts geared towards a specific group of consumers.

Answer 10

TARGET MARKETING

Question 11

SEVERAL APPROACH TO TARGET MARKETING

Answer 11

1. UNDIFFERENTIATED TARGET MARKETING
2. MULTIPLE SEGMENT TARGETING
3. CONCENTRATED TARGETING/NICHE

Question 12

is an approach whereby a company selects the whole market as one big market with no individual segments.

Answer 12

UNDIFFERENTIATED TARGET MARKETING

Question 13

is an approach in which the company selects two or more segments to go after.

Answer 13

MULTIPLE SEGMENT TARGETING

Question 14

focuses on one or few segments or niches in a market.

Answer 14

CONCENTRATED TARGETING/ NICHE

Question 15

The space a brand occupies in the brains of customers.

Answer 15

POSITIONING

Question 16

SEVERAL APPROACHES IN POSITIONING STRATEGIES:

Answer 16

1. PRODUCT CHARACTERISTICS/CUSTOMER BENEFITS
2. PRICING QUALITY
3. USE OR APPLICATION
4. PRODUCT USER
5. PRODUCT CLASS
6. CULTURAL SYMBOL
7. COMPETITORS

Question 17

involves an attempt to transform the
consumer perceptions of a
brand, generally the current
position that the brand holds
has turned into less attractive.

Answer 17

REPOSITIONING

Question 18

BENEFITS OF REPOSITIONING

Answer 18

1. STRONGER COMPETITIVE POSITION
2. ENHANCED SALES
3. CLEARER TARGET MARKET
4. BETTER ALIGNED TO PRESENT MARKET NEEDS
5. POSSIBLE MEDIA ATTENTION

Question 19

to enhance the brand’s perceived positioned comparative to competition.

Answer 19

STRONGER COMPETITIVE POSITION

Question 20

to produce added sales through a more appropriate offering, which must be communicated well to a
different target market.

Answer 20

ENHANCED SALES

Question 21

done to simplify or to modify the
brand’s target market.

Answer 21

CLEARER TARGET MARKET

Question 22

repositioning allows the company to communicate effectively the important
benefits and the present benefits of a product.

Answer 22

BETTER ALIGNED TO PRESENT MARKET NEEDS

Question 23

products/brands will get a sound
amount of media attention which will help be in touch and strengthen the product’s repositioning goals

Answer 23

POSSIBLE MEDIA ATTENTION

Question 24

tailoring the marketing programs and products to suit the needs and wants of specific locations of specific
individuals.

Answer 24

MICROMARKETING

Question 25

MICROMARKETING CAN TAKE THE FORM OF (BLANK) AND (BLANK)

Answer 25

LOCAL MARKETING AND INDIVIDUAL MARKETING

Question 26

DEVELOPING COMPETITIVE ADVANTAGE AND STRATEGIES FOCUS

Answer 26

1. OPERATIONAL EXCELLENCE 2. PRODUCT LEADERSHIP 3. CUSTOMER INTIMACY

Question 27

Strategy intends to achieve cost leadership. Focus on automating manufacturing processes and work procedures to make more efficient operations and trim down cost.

Answer 27

OPERATIONAL EXCELLENCE

Question 28

Strategy intends to make a culture that continuously brings better-quality products to market.

Answer 28

PRODUCT LEADERSHIP

Question 29

They reach premium to market prices due to the experience they produce for their customers.

Answer 29

PRODUCT LEADERS

Question 30

Strategy centers on offering a distinctive range of customer services that consents to a personalized service and customized products to meed varying customer needs.

Answer 30

CUSTOMER INTIMACY

Question 31

Focus on the needs of the individual customer

Answer 31

CUSTOMER INTIMACY

Question 32

is the essence of a company’s strategy. It determines what it will do differently or better than the competition to achieve its objectives.

Answer 32

COMPETITIVE ADVANTAGE

Question 33

one aspect of marketing that would not change regardless of the year. Marketing before and after digital transformation revolves around how customers see the business.

Answer 33

VISIBILITY

Question 34

NEW REALITIES AND TRENDS IN MARKETING

Answer 34

1. INCREASED FOCUS ON CUSTOMER EXPERIENCE 2. ENGAGED AND EFFECTIVE MEASURING ANALYTICS 2.0 3. MARKETING TECHNOLOGISTS & DATA SCIENTISTS AS THE NEW MARKETING LIEUTENANTS 4. PERSONALIZED EVERYTHING 5. BETTER VIDEO CONTENT 6. MORE SOCIAL MEDIA MARKETING 7. EMBRACE THE IoT 8. CHATBOTS & AI GO MAINSTREAM 9. RIGHT-TIME MARKETING INSTEAD OF REAL-TIME MARKETING 10. PREPARE FOR MARKETING TO OWN DIGITAL TRANSFORMATION CAMPAIGN