MIE 201 Exam 4 (11,12,13) 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 auth...
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 more specific group of consumers on whose needs and wants a company
focuses its marketing efforts
total-market approach they try to appeal to everyone and assume that all buyers have
similar needs and wants
market segmentation divides the total market into groups of people
market segment a collection of individuals, groups, or organizations who share one or
more characteristics and thus have relatively similar product needs and desires
, MIE 201 Exam 4 (11,12,13) Makanui Questions
With Solutions 100% Solved
The four bases for segmenting markets Demographic (age, sex, race, income, education,
religion, social class), Geographic (climate, terrain), Psychographic (personality, lifestyle),
Behavioristic (consumer's behavior towards product)
marketing mix four marketing activities (product, price, distribution, promotion) that the
firm can control to achieve specific goals with in a dynamic marketing environment
price a value based on an object exchanged between a buyer and seller
distribution making products available to customer in the quantities desired
promotion a persuasive form of communication that attempts to expedite a marketing
exchange by influencing individuals, groups, and organizations to accept goods, services, and
ideas
marketing research a systematic, objective process of getting information about potential
customers to guide marketing decisions
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