Marketing Strategy Flashcards

In the product adoption curve, which group adopts an innovation just before the early majority?

Answer: Early adopters

Early adopters follow innovators and are opinion leaders who influence the early majority; crossing from early adopters to early majority is called 'crossing the chasm.'

Which analytical tool plots a company's offerings based on market growth rate and relative market share?

Answer: BCG growth-share matrix

The BCG matrix categorizes business units or products into Stars, Cash Cows, Question Marks, and Dogs based on growth rate and relative market share.

A marketer segments customers based on purchase frequency and spending level. This is an example of:

Answer: Behavioral segmentation

Behavioral segmentation divides customers based on usage patterns, purchase frequency, loyalty status, and spending behavior.

The concept of 'positioning' in marketing strategy refers to:

Answer: How a brand is perceived relative to competitors in customers' minds

Positioning defines the distinct place a brand occupies in the target customer's mind relative to competing alternatives.

Which growth strategy involves selling existing products to new market segments?

Answer: Market development

Market development (Ansoff matrix) targets new segments or geographies with existing products, expanding the customer base without changing the offering.

A brand that consistently delivers on its promises across all touchpoints is building:

Answer: Brand equity

Brand equity is the added value a brand name gives a product, built over time through consistent, positive customer experiences and associations.

When a company charges different prices to different customer segments for the same product, this strategy is called:

Answer: Price discrimination

Price discrimination charges different prices to different segments based on their willingness to pay, maximizing revenue across segments.