chapter 7

Question 1

major steps in consumer driven marketing strategy

Answer 1

-marketing segmentation
-targeting
-differentiation
-positioning

Question 2

marketing differentiation

Answer 2

Segmentation is the process of dividing the
world market into distinct subsets of customers that have similar needs”(e.g., country groups or individual interest groups).

Question 3

what requirements must segmentation adhere to to be good

Answer 3

Measurable
Accessible
Substantial
Differentiable
Actionable

Question 4

4 bases of Market Segmentation

Answer 4

Geographic
Demographic
Psychographic
Behavioural

Question 5

target market

Answer 5

is a set of buyers who share common needs
or characteristics that the company decides to serve.”

Question 6

Differentiation

Answer 6

choosing the correct competitive
advantage, how to deliver greater customer value

Question 7

Value proposition

Answer 7

full positioning of a brand, full mix of
benefits on which it is positioned

Question 8

product positioning

Answer 8

= the way the product is defined by
consumers on important attributes—the place the product
occupies in consumers’ minds relative to competing
products

Question 9

differentiation is based on 5

Answer 9

Product
Image
Channel
Service
People