The winning value proposition would be to offer ________.
More for less
When a company customizes its merchandise store by store to meet shopper needs, it is practicing ________ marketing.
Local
The full mix of benefits on which a brand is differentiated and positioned is known as the brand's ________.
Value proposition
Even when competing offers look the same, buyers may perceive a difference based on ________ differentiation.
company or brand Image Differentiation
To the extent that a company can differentiate and position itself as providing superior customer value, it gains ________.
Competitive advantage
________ segmentation assumes that nations close to one another will have many common traits and behaviors.
Geographic
________ requires finding the major advantages people look for in a product class, the kinds of people who look for each positive aspect of a product, and the major brands that deliver it.
Benefit segmentation
________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.
Demographic
________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
Positioning
________ involves actually distinguishing the firm's market offering to create superior customer value.
Differentiation
________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.
Market Segmentation
________ is the process by which firms interact one-to-one with masses of customers to design products and services tailor-made to individual needs.
Mass Customization
True/False: A target market consists of a set of buyers who share common needs or characteristics that the company decides to serve.
True