MM lecture quiz 4-6

All marketing strategy is built on STP: segmentation, targeting, and ________.

• positioning

• product

• planning

• promotion

________ is the act of designing the company's offering and image to occupy a distinctive place in the minds of the target market.

• Valuation

• Positioning

• Pricing

• Commercialization

The goal of positioning is to ________.

• discover the different needs and groups existing in the marketplace

• target those customers marketers can satisfy in a superior way

• locate the brand in the minds of consumers to maximize the potential benefit to the firm

The result of positioning is the successful creation of ________, which provides a cogent reason why the target market should buy the product.

• an award-winning promotional campaign

• a customer-focused value proposition

• everyday low pricing

The ________ defines which other brands a brand competes with and therefore which brands

• competitive frame of reference

• competitor indexing

• consumer profitability analysis

________ are defined as companies that satisfy the same customer need.

• Communities

• Competitors

• Trendsetters

• Industries

All marketing strategy is built on segmentation, targeting, and positioning.

• True

• False

Positioning is the act of designing the company's offering and image to occupy a distinctive place in the minds of the target market.

• True

• False

Which of the following statements about market segmentation is true?

• It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.

• It is a process of evaluating each segment's attractiveness and selecting one or more to enter.

Establishing and communicating the distinctive benefit(s) of the company's market offering for each target segment is called ________.

• market research

• market positioning

• marketing effectiveness

• market segmentation