Chapter 7 Marketing Quiz Review

Term that refers to the characteristics of a market, such as age, hair color, height & sex

Nike and McDonalds are an example of direct competition

Marketers do not need to know how consumers are using their products

Positioning strategies usually revolve around which major area?

An example of indirect competition would be a bowling alley and a video arcade

Takes place in a market segment with businesses that offer the same type of product/service.

The frequency with which a product is consumed

Base for positioning is illustrated by an online investment brokerage that promotes cheap stock

Most marketing intelligence techniques are illegal or unethical

Occurs when a business competes with a product that is outside its product classification

The unique image of a product/service in a consumer's mind relative to the competition

How people spend their time or what gives value to their lives

Trade publication is an Ex. of an information service that a business uses to gather info.

Market positioning is always most effective when it is based on price

A group of individuals or organizations that share one or more important characteristics

Which of the following are the best information sources about competitors?

A market segment is always defined by its physical characteristics

The process of gaining competitive market information

The value a customer receives from a product or service.

In order to compete effectively, it's important to learn as much as possible about competitors

Every segment that is identified is a viable marketing opportunity for a business

The total revenue that can be obtained from the target market

Which of the following is not a market position method?

Occurs when businesses emphasize marketing mix elements such as quality, brand, and location.

Dairy industry runs ads showing famous athletes with milk mustaches. What position strategy?

Most businesses schedule information gathering on their competitors in the spring and the fall

Rivalry among businesses based on price and value

The portion of the total market potential that each company expects to get in relation to comp.

Marketing intelligence is the process of gaining information about the competition

Which base for positioning is illustrated by a sport utility vehicle with a luxury-car interior

What benefits do consumers derive from competition among businesses?

In order to compete effectively with other businesses, marketers must create a unique product

The term used to divide consumers into groups based on where they live.

The type of competition that stresses convenient location is called attribute competition