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Marketing Managers Have Several Choices in Selecting a Targeting Strategy

question 210

Multiple Choice

Marketing managers have several choices in selecting a targeting strategy. Jessica Brandt is a marketing manager with a craft bourbon distiller in Kentucky and knows that there are many different types of bourbon drinkers. However, she concentrates her marketing on the enthusiast or high-involved bourbon drinker who often enjoys a bourbon beverage before or after dinner, reads magazines to keep up with the craft bourbon industry, and is a member of their e-mail list and subscriber to the company's blog. Jessica knows that this segment of bourbon drinkers will consume more bourbon, be more likely to engage in positive word-of-mouth about the brand, and will also be more likely to purchase accessories such as glassware or t-shirts. Jessica is most likely utilizing the _____ targeting strategy and employing just one marketing mix and focusing on one target market segment.

Identify different ethical frameworks and their applications in business decisions.

Describe the role of executive leadership in promoting sustainability and ethical practices.

Understand the significance of transparency and honesty in financial and operational reporting.

Analyze the influence of individual differences in ethics and morality among leaders.

Definitions:

Revenue Variance

The difference between actual revenue and budgeted or forecasted revenue, indicating the performance of a business.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity, allowing for more accurate budgeting in variable operational conditions.

Materials Price Variance

The difference between the actual unit price paid for an item and the standard price, multiplied by the quantity purchased.

Standard Cost

A predetermined cost of manufacturing a single unit or a number of product units during a specific period under current or anticipated conditions.