Chapter 6 - Marketing Strategy
Quiz
The process of attempting to understand the consumer and then designing a marketing mix to fit that consumer's needs is known as:
- mass marketing
- undifferentiated marketing
- targeting
- none of the above
An individual, group of people or group of companies that are willing, able and capable of purchasing a product or service are known as the:
- market
- mass market
- perceptual map
- 80/20 rule
All of the following are advantages of market segmentation EXCEPT:
- assessing potential demand for products
- an improved understanding of potential customers
- a specially designed marketing mix
- a possible invasion of privacy charge
All of the following are examples of demographic variables EXCEPT:
- income
- gender
- age
- postcode
If 80% of the sales of Diet Coke come from 13% of its drinkers, this is an example of:
- usage segmentation
- situation segmentation
- homegenous segmentation
- mass marketing
The typical marketing strategy for selling 'salt' is:
- differentiated
- undifferentiated
- concentrated
- repositioning
When Coca-Cola Co. advertises Classic Coke as 'the real thing', this is an example of what type of strategy?
- Positioning
- Mass marketing
- Situation
- Geographic
Marketing segmentation is:
- the process of dividing the total market into several heterogeneous groups
- the process of bringing several small, unreachable segments into a definable market segment
- an attempt to reach all consumers with a single marketing mix
- practised by both profit oriented and not for profit organisations
The 80/20 principle holds that:
- market segmentation works well 80% of the time and badly 20% of the time
- roughly 80% of a firm's sales comes from 20% of its customers
- 80% of segmentation strategies are done by 20% of the corporations
- 80% of the market can be segmented, 20% cannot.
Which characteristic best describes differentiated marketing?
- It offers decreased costs of distribution and promotion
- It provides the increased efficiency of decreased setup time and longer production runs
- It is much less costly than undifferentiated marketing because it does not use mass media
- It can increase satisfaction in each of many target markets and produce higher sales