MKTG 3101 (A+ Guaranteed)

Four Major Steps in Designing a Customer-Driven Marketing Strategy correct answers *select customers to serve* 1. Segmentation 2. Targeting *decide on a value proposition* 3. Differentiation 4. Positioning Segmentation correct answers Dividing the total market into smaller segments of buyers...

Product correct answers Bundle of physical, service, and symbolic attributes designed to satisfy a customer's needs Services correct answers intangible taks that satisfy the needs of consumers and business users Goods/Objects correct answers tangible products that customers can see, hear, sme...

traditional marketing correct answers Promotes functional features and benefits Persuasive appeals focus on quality or price Assumes customers are rational and analytical decision-makers consumers want a product that... correct answers appeals to their senses, stimulate their minds, create ...

Product Line Classifications correct answers -specialty stores -department stores -convenience stores -superstores -category killers Specialty Stores correct answers carry narrow product lines with deep assortments within the product lines ex. Vineyard Vines, Stonewall Kitchen Department ...

Marketing correct answers a process by which companies create *value* for customers and build strong customer *relationships* in order to capture value from customers in return. Always starting from and focused on *consumer need* Marketing Myopia correct answers short sighted and not open minded ...

decision making correct answers structured approach 5 step marketing research approach correct answers define the problem. develop the research plan. collect relevant information. develop findings. take marketing actions concepts correct answers ideas about products methods correct answers ...

Market Segmentation correct answers Dividing market into groups who have different needs, characteristics, behaviors Market Targeting correct answers Select the segment(s) to enter Differentiation correct answers Differentiating product to create superior customer value Positioning correct ...