Marketing Final Exam

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Unformatted text preview: , Rembrandt Fresh Breath: Close-up, Pepsodent Tartar Control: Tartar Control Crest, Tartar Control Colgate Plaque Reduction: Dental Care, Viadent, Dentagard, Peak, Mentadent Stain Remover: Pearl Drops, Topol, Caffree, Zact, Clinomyn, Rembrandt Gingivitis/Gum Disease Prevention: Crest, Colgate, Mentadent Flavor/Great Taste: Aim, Colgate, StripeFun for Kids: Crest Sparkle, Oral-B Sesame Street, Colgate Jr. No Mess: Pump, neat-squeeze, and specially capped toothpastes Sensitive Teeth: Sensodyne, Denquel, PromiseAll-in-One: Aquafresh Denture Cleaning: Dentu-Creme, Dentu-Gel, Complete Baking Soda: Arm & Hammer, Mentadent Low Price: Arm & Hammer, store brands, brands on sale PTS: 1 REF: 129 Communication KEY: CB&E Model Strategy OBJ: 08-4 TOP: AACSB MSC: BLOOMS Synthesis 13. What is usage-rate segmentation? What is the 80/20 principle, and how does it apply to usage-rate segmentation? ANS: Usage-rate segmentation divides a market based on the amount of product customers purchase or consume. The 80/20 principle states that 80 percent of the demand for a product is generated by 20 percent of all customers. While the percentages are not always exact for all product categories, the principle highlights the disproportionate share of the total consumption of many products and focuses marketers on heavy users. PTS: 1 REF: 129 Communication KEY: CB&E Model Strategy OBJ: 08-4 TOP: AACSB MSC: BLOOMS Synthesis 14. Name the four broad segments of the business market. ANS: The four broad segments of the business market are: producers resellers government institutions PTS: 1 REF: 129 Communication KEY: CB&E Model Customer OBJ: 08-5 TOP: AACSB MSC: BLOOMS Synthesis 15. List, in correct order, the steps in segmenting a market. ANS: The four segmentation steps are to: 1. 2. 3. 4. 5. 6. PTS: 1 REF: 131 Communication KEY: CB&E Model Strategy select a market or product category for study choose a basis or bases for segmenting the market select segmentation descriptors profile and analyze segments select target markets design, implement, and maintain appropriate marketing mixes OBJ: 08-6 TOP: AACSB MSC: BLOOMS Synthesis 16. Name and describe the three targeting strategies. For each strategy, name one advantage and one disadvantage of using the strategy. ANS: UNDIFFERENTIATED TARGETING STRATEGY. This strategy adopts a mass-market philosophy, viewing the market as one big market with no individual segments. Advantages include potential savings on production and lower marketing costs. Disadvantages include susceptibility to competitive inroads and a higher likelihood of unimaginative product offerings with little appeal. CONCENTRATED (OR NICHE) TARGETING STRATEGY. This strategy entails the selection of one segment of a market for targeting. Advantages include concentrated efforts on a highly specialized marketing mix that meets target needs, concentration of resources, the ability to compete against larger firms, and the ability to establish a strong position i...
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This document was uploaded on 09/29/2013.

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