MKT1001 Topic 1.3

The art and science of choosing target markets and building profitable relationships with

them is called ________.

• marketing management

• positioning

• marketing mix

• market offering

• differentiation

Selecting which segments of a population to serve is called ________.

• market segmentation

• positioning

• customization

• target marketing

• differentiation

Dividing the market into various groups of customers that a company may serve is called

________.

• market segmentation

• positioning

• customization

• target marketing

• differentiation

Cathy's Clothes is a small yet successful retail chain that sells women's clothing and

accessories with a focus on buyers who have relatively modest means. For this specific purpose,

the firm has rolled out several marketing initiatives aimed at women of a specific demographic.

This is an example of ________.

• ambush marketing

• social marketing

• societal marketing

• target marketing

• cause marketing

An organic farmer has identified three distinct groups that might be interested in his

products: vegetarians, health-conscious individuals, and people identified as trendsetters who try

out new products in the market before others. These three groups are examples of ________.

• marketing mixes

• market segments

• value propositions

• market offerings

• marketing intermediaries

Which of the following refers to a set of benefits that a company promises to deliver to

customers to satisfy their needs?

• customer lock-in

• a cartel

• marketing mix

• value proposition

• market segmentation

Which of the following marketing management orientations focuses primarily on improving

efficiencies along the supply chain?

• production concept

• product concept

• selling concept

• marketing concept

• societal marketing concept

Which of the following marketing management concepts is most likely to lead to marketing myopia?

• customer-driven marketing concept

• customer-driving marketing concept

• societal marketing concept

• marketing concept

• product concept

Which of the following statements is true of the production concept?

• It considers customer focus and value to be the paths to sales and profits.

• It follows the customer-centered sense-and-respond philosophy.

• It takes an outsiIt calls for sustainable marketing.de-in perspective.

• It leads to companies focusing too narrowly on their own operations.

The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features.

• product

• production

• societal marketing

• marketing

• selling