MIE 201 Test 4 Makanui Questions With Solutions 100% Solved
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Course
MIE-201
Institution
MIE-201
MIE 201 Test 4 Makanui Questions With
Solutions 100% Solved
marketing strategy a plan of action for developing, pricing, distributing, and promoting
products that meet the needs of specific customers
market a group of people who have a need, purchasing power, and the desire and authority
to...
MIE 201 Test 4 Makanui Questions With
Solutions 100% Solved
marketing strategy a plan of action for developing, pricing, distributing, and promoting
products that meet the needs of specific customers
market a group of people who have a need, purchasing power, and the desire and authority
to spend money on goods, services, and ideas
target market a specific group of consumers on whose needs and wants a company focuses
its marketing efforts
business to business marketing (B2B) involves marketing products to customers who will
use the product for resale, direct use in daily operations, or direct use in making other products
business to consumer marketing (B2C) marketing directly to the end consumer
total-market approach an approach whereby a firm tries to appeal to everyone and
assumes that all buyers have similar needs
, MIE 201 Test 4 Makanui Questions With
Solutions 100% Solved
market segmentation a strategy whereby a firm divides the total market into groups of
people who have relatively similar product needs
market segment a collection of individuals, groups, or organizations who share one or
more characteristics and thus have relatively similar product needs and desires
concentration approach a market segmentation approach whereby a company develops
one marketing strategy for a single market segment
multisegment approach a market segmentation approach whereby the marketer aims its
efforts at two or more segments, developing a marketing strategy for each
demographic segmentation segmenting by age, sex, race, ethnicity, income, education,
occupation, family size, religion, and social class
geographic segmentation segmenting by climate, terrain, natural resources, population
density, and subcultural values
, MIE 201 Test 4 Makanui Questions With
Solutions 100% Solved
psychographic segmentation segmenting by personality characteristics, motives, and
lifestyles
behavioristic segmentation segmenting by some characteristic of the consumer's behavior
toward the product
marketing mix the four marketing activities- product, price, promotion, and distribution-
that the firm can control to achieve specific goals within a dynamic marketing environment
good a physical entity you can touch
service the application of human and mechanical efforts to people or objects to provide
intangible benefits to customers
ideas concepts, philosophies, images, and issues
price a value placed on an object exchanged between a buyer and a seller
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