Offering cellular phone plans suited to the number of phones in a family & the amount of minutes used in one month is an example of marketing a product based on product usage.

The product user positioning strategy encourages use of a product or service by associating a personality or type of user with the product.

Companies must be careful not to base their positioning decisions solely on the actions of their competitors.

The price and quality positioning strategy always stresses higher price as a sign of quality.

Competition forces businesses to offer reasonable prices for the products and services that consumers use.

The type of competition faced by a business will affect its positioning.

When businesses are in direct competition, competitors' pricing strategies are very important.

It is always costly and time-consuming to change promotional strategies.

The Internet is virtually useless as a source of current competition information.

This approach directs a company's marketing mix at a large and heterogeneous group of consumers.

People's interests and values are referred to as

Market segments should be evaluated on all of the following characteristics EXCEPT

Which of the following is the LAST step in identifying potential market segments?

If a camera manufacturer markets its cameras as taking sharper, clearer pictures than competing models, how is it positioning its product?

Which of the following is an example of indirect competition?

Which of the following is NOT a benefit of competition?

A restaurant that advertises an all-you-can-eat dinner buffet for $3.95 is probably engaging in

Businesses engage in which of the following activities to gain information about the competition?

an exhibition where companies associated with an industry gather to showcase their products is called a(n)

__ segmentation is the process of dividing a large group of consumers into subgroups based on specific characteristics and common needs.

The descriptive characteristics of a market such as age, gender, race, income, and educational level are referred to as __.

__ segmentation divides consumers into groups depending on specific values or benefits they expect or require from the use of a product or service.

A market __ is an identified market with excellent potential based on careful research.

Market __ is the position of the total market potential that each company expects in relation to its competitors.

Market __ refers to the unique image of a product or service in a consumers's mind relative to similar competitive offerings.

The image consumers have of competing goods and services in the marketplace are called consumer __.

__ competition is competition in a market with businesses that offer the same type of product or service.

Rivalry among businesses on the basis of price and value is called __ competition.

The process of gaining competitive market information is called market __.