Question 1

When firms use symbols,colors,or characters to convey their personalities,they are using ________ differentiation.

Accepted Answer

Image differentiation refers to the use of symbols, colors, characters, or other visual elements to create a unique and distinctive brand image that sets a company apart from its competitors. This type of differentiation is often used to convey a company's personality, values, and overall identity, and can be an effective way to build brand loyalty and recognition over time.

Question 2

When marketers at P&G selected the Millennials,a demographic that includes university students,for their Febreze line of products,they were executing which step in the process of designing a customer-driven marketing strategy?

Accepted Answer

Targeting involves selecting specific segments of the market to focus on, based on factors such as demographics, behavior, and psychographics. In this case, P&G selected the Millennial demographic, which is a specific target market, for their Febreze line of products. Market segmentation, differentiation, and positioning are all important steps in designing a customer-driven marketing strategy, but they come before targeting in the process. Mass marketing refers to a strategy of targeting a broad audience with a single marketing message, rather than targeting specific segments.

Question 3

When Honda appeals to the rebellious,independent kid in all of us in its advertisements,it is using ___________ segmentation.

Accepted Answer

Honda is using a psychographic segmentation approach by targeting individuals who have a rebellious and independent nature. This type of segmentation is based on personality traits, values, attitudes, and interests, which means it focuses on the psychological aspects of consumer behavior. By understanding the psychographic characteristics of their target audience, Honda can create advertising messages that resonate with their audience and create a stronger connection with them.

Question 4

Which type of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage,expertise,and performance?

Accepted Answer

Channel differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage, expertise, and performance. By using unique channels, such as exclusive partnerships or innovative delivery methods, a company can differentiate itself from competitors and better reach its target market. Services differentiation focuses on providing superior customer service or support, people differentiation focuses on having exceptional employees or team culture, product differentiation focuses on unique features or benefits of a product, and price differentiation focuses on offering competitive pricing or value-based pricing.

Question 5

A company or market offer can be differentiated along the lines of product,image,services,channels,or ________.

Accepted Answer

Differentiation can occur through people, as employees and their interactions with customers can create a unique experience and add value to the company's offerings.

Question 6

What is the following an example of? "To busy,mobile people who need to always be in the loop,the iPad is a multi-touch screen wireless connectivity solution that provides the best way to
experience the Web,email,photos,and videos with just the touch of a finger."

Accepted Answer

This statement is a clear example of a positioning statement, as it highlights the unique features and benefits of the iPad for a specific target market (busy, mobile people who need to always be in the loop).

Question 7

Which difficult to sustain positioning strategy attempts to deliver the "best of both"?

Accepted Answer

This positioning strategy attempts to deliver more value to customers than competitors, while keeping prices lower or at the same level. It is difficult to sustain because it requires finding ways to reduce costs without sacrificing quality, and also requires continuous innovation to stay ahead of competitors. However, if successful, it can lead to higher sales and stronger brand loyalty.

Question 8

Which type of statement first indicates the product's membership in a category and then shows its point of difference from other members of the category?

Accepted Answer

A positioning statement first identifies the category where a product belongs and then highlights its unique position or point of difference from other products in the same category.

Question 9

What competitive positioning can attack a more-for-more strategy by introducing a brand offering with comparable quality at a lower price?

Accepted Answer

The answer of What competitive positioning can attack a more-for-more...

Question 10

Which positioning strategy offers consumers a "good deal" by offering equivalent-quality products or services at a lower price?

Accepted Answer

The positioning strategy that offers consumers a "good deal" by offering equivalent-quality products or services at a lower price is "same for less". This is because consumers perceive the product or service to be the same quality, but at a lower price, making it a good value for their money. Therefore, option C is the best choice.

Question 11

You have just created the "perfect" ad.It communicates the full mix of benefits upon which the brand is differentiated and positioned.This full positioning of the brand is called ________.

Accepted Answer

The full positioning of the brand that communicates the complete mix of benefits upon which it is differentiated and positioned is called the value proposition. It is the statement defining the unique value the brand provides to its consumers, highlighting its distinctive benefits, and setting it apart from the competitors.

Question 12

When Pacific Fisheries Pte Ltd groups its customers by regions such as Asia,Australia,or New Zealand,it is using which segmenting base?

Accepted Answer

Pacific Fisheries Pte Ltd is using geographic location as a segmenting base when grouping customers by regions such as Asia, Australia, or New Zealand.

Question 13

"Less for much less" positioning involves meeting consumers' ________.

Accepted Answer

"Less for much less" positioning involves offering lower quality requirements in exchange for a lower price, which meets the consumers' need for affordability over quality.

Question 14

Volvo consistently promotes its safety.This serves as its ______________.

Accepted Answer

Volvo's promotion of safety serves as their unique selling proposition (USP), which differentiates them from other car brands and highlights their focus on safety above all else.

Question 15

Charles & Keith,a fashion footwear boutique from Singapore,markets itself as not only a fashion specialist but also a provider of a new lifestyle.This is an example of ________.

Accepted Answer

Psychographic segmentation is the division of the market based on social class, lifestyle, and personality characteristics. In this case, Charles & Keith is positioning itself as a provider of a new lifestyle, indicating that they are using psychographic segmentation to target customers who value fashion as a lifestyle choice.

Question 16

When Burger King targets children,teens,adults,and seniors with different ads and media,it is practicing ________ segmentation.

Accepted Answer

Burger King is using age and life-cycle segmentation as it is targeting different age groups with different ads and media. Children might be targeted with ads featuring toys or cartoon characters, teens might be targeted with social media and music-themed marketing, adults might be targeted with value deals or health-conscious options, and seniors might be targeted with ads featuring simplicity and affordability.

Question 17

The answer to the customer's question "Why should I buy your brand?" is found in the ________.

Accepted Answer

The value proposition is the unique benefit that a brand offers to its customers compared to its competitors. It explains why the customer should choose that particular brand over others in the market. This can include factors such as quality, pricing, customer service, and differentiation. Therefore, the value proposition is the answer to the customer's question of "Why should I buy your brand?"

Question 18

At times everyone needs a product with less quality or performance with a correspondingly lower price.In this case a consumer would purchase a product positioned with a ________ strategy.

Accepted Answer

A "less for much less" strategy involves offering a product with lower quality or performance at a significantly reduced price, which aligns with the consumer's need for a cheaper option.

Question 19

A brand difference is worth establishing and promoting to the extent that it satisfies all of the criteria below EXCEPT which one?

Accepted Answer

A brand difference should be important, distinctive, affordable, and noticeable, but it does not need to be divisible. Divisibility is not a relevant criterion for establishing and promoting a brand difference.

Question 20

When it first opened for business,Home 4 Less claimed to offer better products at lower prices.This difficult to sustain value proposition is called ________.

Accepted Answer

Home 4 Less claimed to offer better products at lower prices, which means "more for less." This value proposition is difficult to sustain over time, as competitors can copy or even improve upon the offering, making it challenging to maintain the cost advantage while sustaining the better product quality.

Quiz 7: Customer-Driven Marketing Strategy: Creating Value for Target Customers