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consumer market correct answers the sum total of individuals and households that buy goods and services for personal consumption consumer buyer behavior correct answers is the buying behavior of individuals and households who buy goods and services for personal consumption stimulus response co...

4 Steps in Designing a Customer Value-Driven Marketing Strategy correct answers 1. Segmentation 2. Targeting 3. Differentiation 4. Positioning Customers to Serve correct answers Segmentation, Targeting Deciding on a Value Proposition correct answers Differentiation, Positioning Segmentat...

Product Life Cycle correct answers -stages a product goes through in the marketplace -Introduction -Growth -Maturity -Decline -"A product is something that is made in a factory; a brand is something that is bought by a customer. A product can be copied by a competitor; a brand is unique...

What are the eras of different orientation in the history of American business? correct answers Product Sales Marketing Relationship Product Orientation correct answers focused on making the product Sales Orientation correct answers focused on moving the product Marketing Orientation cor...

According to the elements of value pyramid, a problem with _____ will undermine other benefits. correct answers Quality According to the elements of value pyramid, the minimum number of benefits a product needs to score well on to have a strongly loyal customers is? correct answers 4 ______ ca...

Types of Service Levels correct answers self-service: serve customers who are willing to perform their own locate-compare-select process. limited-service: carries more shopping goods about which customers need information, provides more sales assistance. full-service: carries more specialty goods, a...

Consumer Market correct answers is the sum total of individuals and households that buy goods and services for personal consumption. Consumer Buyer Behavior correct answers : is the buying behavior of individuals and households who buy goods and services for personal consumption. How do we...

Who determines the value of a product? correct answers The Customers If companies don't determine value, what do they do? correct answers They offer product propositions- A brand's value proposition is the set of benefits or values it promises to deliver to consumers to satisfy their needs. Val...

Marketing Information System (MIS) correct answers people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights MIS begins and ends with inform...

Brand correct answers a name, term, sign, symbol, ordering,or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors Marketer's of the 21st century brands must excel at the ___. correct answers strat...

Simple Trade Era correct answers pre-industry, blacksmiths and tradesmen Production Era correct answers () how fast can you make things is what makes you successful - "If we make it, it will sell" Sales Era correct answers () this is where you get your traditional depiction of sales men M...

amount of money charged for a product or service correct answers price What differentiates price from other aspects of marketing? correct answers it is the only thing that generates revenue and can be adjusted quickly Should companies sell price or value? correct answers value What are pote...

C correct answers 1) When a company identifies the parts of the market it can serve best and most profitably, it is practicing ________. A) concentrated marketing B) mass marketing C) market targeting D) segmenting E) differentiation C correct answers 2) What are the four steps, in order, to...

marketing information system correct answers people and procedures dedicated to: 1. assessing information needs 2. developing the needed information 3. helping decision makers to use the information to generate and validate actionable customer and market insights ** Begins and Ends with infor...

Which of the following is NOT one of the four factors to consider as manufacturers develop their strategy for working with retailers? correct answers Identifying types of wholesalers Retailers that sell products in stores, catalogs, and on the Internet are using a(n) ________ strategy. correct an...

Conducting market research to understand which consumers are most likely to want, need, and buy a firm's products would take place during which step of designing and executing an advertising campaign? correct answers Identify the target audience In which stage of designing and executing an adver...

________ is never simple, yet understanding it is the essential task of marketing management. A) Brand personality B) Consumption pioneering C) Early adoption D) Consumer buying behavior E) Understanding the difference between primary and secondary data correct answers consumer buying behavior ...

How does the new concept of marketing differ from the old concept of marketing? correct answers The new concept focuses on the needs of the customer What is the main problem that sellers suffering from marketing myopia face? correct answers They focus more on products than the customer's overlyi...

What type of misconception is the idea that "the lower price is always better?" correct answers "misconception that Marketing is common sense" -ex.: Walmart is cheaper but customer service is awful What is the reality of the matter that "lowest price is NOT always better" correct answers...

Consumer Behavior is how correct answers 1. Consumers make purchase decisions 2. Consumers use and dispose of a product 5 Stages of the Consumer Decision-Making Process correct answers 1. Need Recognition 2. Information Search 3. Evaluation of Alternatives 4. Purchase 5. Postpurcha...