Pts 1 ref 126 obj 08 6 type comp top aacsb reflective

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PTS: 1 REF: 126 OBJ: 08-6 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy 22. Dakin Farms in Vermont uses mass marketing. Marketers would call the strategy an undifferentiated targeting strategy. ANS: T PTS: 1 REF: 126-127 OBJ: 08-7 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Strategy 23. Niche marketing is a form of concentrated targeting. ANS: T PTS: 1 REF: 127-128 OBJ: 08-7 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy 24. Procter & Gamble markets six different brands of laundry detergent, such as Tide, ERA, Gain, and Dreft, each targeting a different market segment. This is an example of concentrated targeting. ANS: F This illustrates a multisegment targeting strategy. PTS: 1 REF: 128 OBJ: 08-7 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Strategy 25. Increasing share of customer means getting more customers. ANS: F Increasing share of customer means selling more products to each customer, not getting more custom- ers. PTS: 1 REF: 129 OBJ: 08-8 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy 26. Marketers are realizing that the “one-size-fits-all” approach to marketing is still relevant. ANS: F The one-size-fits-all marketing is no longer relevant. Consumers want to be treated as the individuals they are, with their own unique sets of needs and wants. PTS: 1 REF: 129 OBJ: 08-8 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy 27. A product’s position refers to where it is located on store shelves. ANS: F Position is the place a product, brand, or group of products occupies in consumers’ minds relative to competing offerings. PTS: 1 REF: 130 OBJ: 08-9 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product
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28. Product differentiation is a positioning strategy. ANS: T PTS: 1 REF: 130 OBJ: 08-9 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy 29. A product’s positioning could be based on product users. ANS: T PTS: 1 REF: 131 OBJ: 08-9 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy 30. Consumers’ perceptions regarding a product’s position cannot be changed. ANS: F Repositioning is changing consumers’ perceptions of a brand in relation to competing brands. PTS: 1 REF: 131 OBJ: 08-9 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy MULTIPLE CHOICE 1. A _____ is a group of people or organizations that has wants and needs that can be satisfied by particu- lar product categories, has the ability to purchase these products, and is willing to exchange resources for the products. a. firm b. buyer c. market d. consumer e. target ANS: C PTS: 1 REF: 117 OBJ: 08-1 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Customer
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