AACSB: Analytical thinking
23) Dividing a market into several sections of customers is known as ________.
A) mass customization
B) market positioning
C) market segmentation
D) value engineering
E) undifferentiated marketing
Answer: C
Diff: 1
LO: 1-3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
AACSB: Analytical thinking
24) Dollar General profitably appeals to families with more modest means. The retailer's approach is most likely referred to as ________.
A) mass distribution
B) cost leadership
C) consumer-generated marketing
D) target marketing
E) undifferentiated marketing
Answer: D
Diff: 3
LO: 1-3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
AACSB: Analytical thinking
25) A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy their needs.
A) dominant effect
B) fringe benefit
C) perquisite
D) value proposition
E) dividend yield
Answer: D
Diff: 1
LO: 1-3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
AACSB: Analytical thinking
26) JetBlue's promise to put "You Above All" by "bringing humanity back to travel" is their ________.
A) value proposition
B) segmentation strategy
C) market offering
D) selling concept
E) production concept
Answer: A
Diff: 2
LO: 1-3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
AACSB: Analytical thinking
27) The ________ concept holds that consumers will favor goods and services that offer the most in quality, performance, and innovative features.
A) societal marketing
B) marketing
C) selling
D) production
E) product
Answer: E
Diff: 2
LO: 1-3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
AACSB: Analytical thinking
28) PC manufacturer, Lenovo, focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Lenovo most likely follows the ________.
A) customer-driving marketing concept
B) marketing concept
C) societal marketing concept
D) production concept
E) selling concept
Answer: D
Diff: 3
LO: 1-3: Identify the key elements of a customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
AACSB: Analytical thinking
29) Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This most likely reflects the ________.
A) customer-driving marketing concept
B) marketing concept
C) societal marketing concept
D) production concept
E) selling concept
Answer: D
Diff: 3