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Marketing 350 Exam 1 UTK || A+ Graded Already.
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80/20 Rule correct answers 20 percent of users account for 80 percent of sales. demographics correct answers descriptive characteristics of a population consumption communities correct answers members share opinions and recommendations about anything from Barbie dolls to baseball fantasy leag...

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  • August 28, 2024
  • 14
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • 8020 rule

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  • Mktg 350 UTK |
  • Mktg 350 UTK |

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Marketing 350 Exam 1 UTK || A+ Graded Already.
80/20 Rule correct answers 20 percent of users account for 80 percent of sales.

demographics correct answers descriptive characteristics of a population

consumption communities correct answers members share opinions and recommendations about
anything from Barbie dolls to baseball fantasy league team lineups to iPhone apps. Gail forms
bonds with fellow group members because they use the same products. There is also pressure on
each group member to buy things that will meet with the group's approval.

market segmentation strategies correct answers organization targets its product, service, or idea
only to specific groups of consumers rather than to everybody—even if it means that other
consumers who don't belong to this target market aren't attracted to it.

consumer behavior correct answers It is the study of the processes involved when individuals or
groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy
needs and desires.

exchange correct answers ransaction in which two or more organizations or people give and
receive something of value, is an integral part of marketing.

consumption process correct answers the issues that influence the consumer before, during, and
after a purchase.

consumer correct answers person who identifies a need or desire, makes a purchase, and then
disposes of the product during the three stages of the consumption process.

heavy users correct answers most faithful customers. Sometimes companies define market
segments when they identify their heavy users.

how we divide consumers up: demographics correct answers age, gender, family structure, social
class and income, race and ethnicity, lifestyles

how we divide consumers up correct answers demographics, geographics, psychographics,
behavioral

relationship marketing correct answers interact with customers on a regular basis and give them
solid reasons to maintain a bond with the company over time. A focus on relationships is even
more vital, especially during the nasty economic conditions we've recently experienced; when
times are tough, people tend to rely on their good friends for support!

database marketing correct answers tracks specific consumers' buying habits closely and crafts
products and messages tailored precisely to people's wants and needs based on this information.

big data correct answers The collection and analysis of extremely large datasets.

, popular culture correct answers the music, movies, sports, books, celebrities, and other forms of
entertainment that the mass market produces and consumes—is both a product of and an
inspiration for marketers.

role theory correct answers takes the view that much of consumer behavior resembles actions in
a play. We as consumers seek the lines, props, and costumes necessary to put on a good
performance. Because people act out many different roles, they sometimes alter their
consumption decisions depending on the particular "play" they are in at the time.

self-concept attachment correct answers the product helps to establish the user's identity.

nostalgic attachment correct answers the product serves as a link with a past self.

interdependence correct answers the product is a part of the user's daily routine. this has the
biggest impact if you change your routine.

love correct answers the product elicits emotional bonds of warmth, passion, or other strong
emotion.

need correct answers something a person must have to live or achieve a goal.

want correct answers specific manifestation of a need that personal and cultural factors
determine.

_____ makes need become a want correct answers cultural personality

megacity correct answers metropolitan area with a total population of more than 10 million
people.

B2C e-commerce correct answers businesses selling to consumers through electronic marketing.

C2C e-commerce correct answers consumer-to-consumer activity through the Internet.

virtual worlds correct answers immersive three-dimensional virtual environments such as Second
Life.

digital native correct answers consumers who grew up "wired" in a highly networked, always-on
world where digital technology had always existed.

user-generated content correct answers everyday people voice their opinions about products,
brands, and companies on blogs, podcasts, and social networking sites such as Facebook and
Twitter, and even film their own commercials that thousands view on sites such as YouTube.

Web 2.0 correct answers the rebirth of the Internet as a social, interactive medium from its
original roots as a form of one-way transmission from producers to consumers.

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