MARK 4000 - Wang Test 2 Review | Latest Update | 2024/2025 | 100% Pass
1 view 0 purchase
Course
MRK 4000 -
Institution
MRK 4000 -
MARK 4000 - Wang Test 2 Review |
Latest Update | 2024/2025 | 100% Pass
What is market segmentation?
Market segmentation is the process of dividing a broad consumer or business market into
sub-groups of consumers based on some shared characteristics.
What is a unique selling proposition (U...
MARK 4000 - Wang Test 2 Review |
Latest Update | 2024/2025 | 100% Pass
What is market segmentation?
✔✔ Market segmentation is the process of dividing a broad consumer or business market into
sub-groups of consumers based on some shared characteristics.
What is a unique selling proposition (USP)?
✔✔ A unique selling proposition (USP) is a feature or characteristic of a product that makes it
stand out from competitors and appeals to a specific target market.
What does "brand equity" refer to?
✔✔ Brand equity refers to the value a brand adds to a product or service based on consumer
perception and brand reputation.
What is a "penetration pricing strategy"?
✔✔ A penetration pricing strategy involves setting a low initial price to attract customers and
gain market share quickly.
1
, What is "customer lifetime value"?
✔✔ Customer lifetime value is the total revenue a business can expect from a single customer
over the entire duration of their relationship.
What is "differentiation" in marketing?
✔✔ Differentiation is the process of distinguishing a product or offering from others to make it
more attractive to a specific target market.
What is "market positioning"?
✔✔ Market positioning is the strategy used to create a distinct image and identity for a product
or brand in the minds of consumers.
What is "the 4 Ps" in marketing?
✔✔ The 4 Ps in marketing are Product, Price, Place, and Promotion, which are the key elements
involved in marketing a product or service.
What is "customer segmentation"?
✔✔ Customer segmentation is the practice of dividing a market into distinct groups of buyers
who have different needs, characteristics, or behaviors.
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller SterlingScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.09. You're not tied to anything after your purchase.
