Bus 100 Exam || A+ Graded Already.
Benefit Segmentation correct answers Dividing the market by determining which benefits of the product to talk about
Brand name correct answers A word, letter, or group of words or letters that differentiate one sellers goods and services from those of competitors
Business to business markets (B2B) correct answers All the individuals and organizations that want goods and services to use in producing other goods and services or to sell, rent, or supply goods to others
Consumer market correct answers All the individuals or households that want goods and services
for personal consumption or use
Customer relationship management (CRM) correct answers The process of learning as much as possible about customers an doing everything you can over time to satisfy them or even exceed their expectations with goods and services
Demographic segmentation correct answers Dividing the market by age, income, and education level
Environmental scanning correct answers The process of identifying the factors that can effect marketing sucess
Focus group correct answers A small group of people who meet under the direction of a discussion leader to communicate their opinions about an organization, it's products, or other given issues
Geographic segmentation correct answers Dividing the market by cities, countries, states or regions
Marketing correct answers The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging, offerings that have value for customers, clients, partners , and society at large
Marketing concept correct answers A three part business philosophy: (1.) A customer orientation
(2.) A service orientation, and (3.) a profit orientation
Marketing mix correct answers The ingredients that go into a marketing program: product, price, place, and promotion
Marketing research correct answers The analysis of markets to determine opportunities and challenges, and to find the information needed to make good decisions. Marketing segmentation correct answers The process of diving the total market into groups whose members have similar characteristics
Mass marketing correct answers Developing products and promotions to please large groups of people
Niche marketing correct answers The process of finding small but profitable market segments and designing or finding products for them
One to one marketing correct answers Developing a unique mix of goods and and services for each individual customer
Primary data correct answers Data that you gather yourself (not form secondary sources such as books and magazines)
Product correct answers Any physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eyes of consumers such as the brand name
Promotion correct answers All the techniques sellers use to inform people about and motivate them to buy their products or services
Psychographic segmentation correct answers Dividing the market using the groups values, attitudes and interests
Relationship marketing correct answers Marketing strategy with the goal of keeping individual customers over time by offering them products that exactly meet their requirements
Secondary data correct answers Information that has already been compiled by others and published in journals and books or made available online
Target marketing correct answers Marketing directed toward those groups (market segments) an organization decides it can serve profitably
Test marketing correct answers The process of testing products among potential users
Volume (or usage) segmentation correct answers Dividing the market by usage (volume of use)
Value correct answers Good quality at a fair price. when consumers calculate the value of a product, they look at the benefits and then subtract the cost to see if the benefits exceed the cost.
Total product offer correct answers Everything that consumers evaluate when deciding whether to buy something;also called a value package.
Product line correct answers A group of product that are physically similar or are intended for a similar market.
Benefit Segmentation correct answers Dividing the market by determining which benefits of the product to talk about
Brand name correct answers A word, letter, or group of words or letters that differentiate one sellers goods and services from those of competitors
Business to business markets (B2B) correct answers All the individuals and organizations that want goods and services to use in producing other goods and services or to sell, rent, or supply goods to others
Consumer market correct answers All the individuals or households that want goods and services
for personal consumption or use
Customer relationship management (CRM) correct answers The process of learning as much as possible about customers an doing everything you can over time to satisfy them or even exceed their expectations with goods and services
Demographic segmentation correct answers Dividing the market by age, income, and education level
Environmental scanning correct answers The process of identifying the factors that can effect marketing sucess
Focus group correct answers A small group of people who meet under the direction of a discussion leader to communicate their opinions about an organization, it's products, or other given issues
Geographic segmentation correct answers Dividing the market by cities, countries, states or regions
Marketing correct answers The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging, offerings that have value for customers, clients, partners , and society at large
Marketing concept correct answers A three part business philosophy: (1.) A customer orientation
(2.) A service orientation, and (3.) a profit orientation
Marketing mix correct answers The ingredients that go into a marketing program: product, price, place, and promotion
Marketing research correct answers The analysis of markets to determine opportunities and challenges, and to find the information needed to make good decisions. Marketing segmentation correct answers The process of diving the total market into groups whose members have similar characteristics
Mass marketing correct answers Developing products and promotions to please large groups of people
Niche marketing correct answers The process of finding small but profitable market segments and designing or finding products for them
One to one marketing correct answers Developing a unique mix of goods and and services for each individual customer
Primary data correct answers Data that you gather yourself (not form secondary sources such as books and magazines)
Product correct answers Any physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eyes of consumers such as the brand name
Promotion correct answers All the techniques sellers use to inform people about and motivate them to buy their products or services
Psychographic segmentation correct answers Dividing the market using the groups values, attitudes and interests
Relationship marketing correct answers Marketing strategy with the goal of keeping individual customers over time by offering them products that exactly meet their requirements
Secondary data correct answers Information that has already been compiled by others and published in journals and books or made available online
Target marketing correct answers Marketing directed toward those groups (market segments) an organization decides it can serve profitably
Test marketing correct answers The process of testing products among potential users
Volume (or usage) segmentation correct answers Dividing the market by usage (volume of use)
Value correct answers Good quality at a fair price. when consumers calculate the value of a product, they look at the benefits and then subtract the cost to see if the benefits exceed the cost.
Total product offer correct answers Everything that consumers evaluate when deciding whether to buy something;also called a value package.
Product line correct answers A group of product that are physically similar or are intended for a similar market.
