CHAPTER 3

What are the three key analyses that help develop a customer-driven marketing strategy?

• Segmentation, targeting, positioning

• Competitor, company, customer

• Needs, attributes, benefits

• Positioning, differentiation, focus

What does STP stand for in marketing?

• Segmentation, targeting, positioning

• Search, target, promote

• Strategy, tactics, plan

• Study, test, perfect

What should be the first step in segmenting service markets?

• Demographic factors

• Psychographics

• Needs-based

• Behavioral

Determinant attributes are service characteristics that

• Distinguish between competitors

• Are most important to customers

• Determine customer choices

• Define market segments

Segmenting based on service levels means

• Dividing customers by usage frequency

• Offering different quality standards

• Grouping users and non-users

• Targeting different income segments

What is a risk of using a focused market strategy

• Too broad of a market

• Too wide a range of services

• Market may be too small

• Lack of marketing resources

Which positioning question addresses current customer perceptions?

• What does our firm currently stand for?

• Which customers should we target?

• How do we differ from competitors?

• What changes must we make?

What visualizes competitive positioning on a map?

• Service blueprint

• Positioning statement

• Perceptual map

• Consumer grid

What do positioning maps display

• Market growth rates

• Customer density

• Relative performance of competitors

• Advertising reach

What helps ensure positioning maps reflect customer perspectives

• Using predictive analytics

• Testing with focus groups

• Basing on market research

• Benchmarking competitors