Marketing mix variables Study guides, Class notes & Summaries

MGMT 323 Purdue Exam 2 Latest Update Graded A+ Geographic Segmentation the grouping of consumers on the basis of where they live demographic segmentation grouping of consumers according to easily measured, objective characteristics such as age, gender, income, and education psychogrpahic segmentation method of segmenting customers based on how they spend their time and money, what activities the pursue, and their attittudes and opinions about the world in which they live psychographics used i...

Market segment - ANSWER A __________ is a relatively homogeneous group of customers who will respond to a marketing mix in a similar way. All of the above - ANSWER The role of price in a meeker directed economy is____. Whether the whole company is customer oriented - ANSWER The main difference between the "marketing department era" and the "marketing company era" is: The people and different segments should be as heterogeneous as possible with respect to their likely response market...

An area on a perceptual map where there is a cluster of ideal points indicates a market segment. correct answer: True Strategy implementation affects top and middle managers but not lower-level employees. correct answer: False An example of a marketing decision is whether or not to limit the share of business done with a single customer. correct answer: True Editorial content and advertising content are increasingly being mixed on blogs. correct answer: True Market penetration ca...

Fundamentals of Marketing ICEV Assessment Questions and Answers 100% Pass Which of the following is NOT affected by marketing? The product regulations Which of the following is distribution focused on when thought of as a function of marketing? Getting products to the best place for customers to locate and obtain them Marketing, put simply attempts to do which of the following? Satisfy people's needs Which of the following descriptions accurately describes the difference betwee...

Certified Parks and Recreation Professional (CPRP) Exam Questions And Answers (Verified And Updated) Benchmarking - answerthe process of comparing an organization's practices and technologies with those of other companies Rules - answerSpecific; direct participants and employees to act in a prescribed manner Policies - answerbroad and open to interpretation. Based on circumstances, set direction. Anti-discrimination is an example of a - answerpolicy Procedures - answerChronological sequ...

Target customers - CORRECT ANSWER Customers based on a predefined geographic boundary Market segmentation - CORRECT ANSWER Dividing a market through variables such as age, gender, education level, family size, occupation, income, and more Psychographic - CORRECT ANSWER Focus on the intrinsic traits the target customer has, such as values, personalities, interests, attitudes, conscious and subconscious motivators, lifestyles, and opinions Behavioral - CORRECT ANSWER The way cust...

Certified Parks and Recreation Professional (CPRP) Exam Questions And Answers (Verified And Updated) Benchmarking - answerthe process of comparing an organization's practices and technologies with those of other companies Rules - answerSpecific; direct participants and employees to act in a prescribed manner Policies - answerbroad and open to interpretation. Based on circumstances, set direction. Anti-discrimination is an example of a - answerpolicy Procedures - answerChronological sequ...

BUSML 3250 Final Exam Review Questions Solved 100% Correct What is a price? - The amount of money charged for a product or service. What is value-based pricing? - Price is considered along with other marketing mix variables before the marketing program is set What are the steps in (customer) value-based pricing? - 1. Assess customer needs and value perceptions 2. Set target price to match customer perceived value 3. Determine the costs that can be incurred 4. Design product to deliver v...

Market Segmentation - correct answer The process of dividing consumers into groups with similar consumer characteristics and product needs. Market Segmentation - correct answer Allows managers to break the market into small manageable groups, so that firms can tailor their offerings to satisfy different needs and wants. Three Marketing Strategies - correct answer Undifferentiated (Mass Marketing), Differentiated (Product-Variety), Concentrated (Target) Undifferentiated (Mass Marketing) ...

MKT 315 Midterm Study GuideBrand Loyalty - correct answer Develops when customers prefer one brand over others and stick to the brand whenever possible. Competitive Advantage - correct answer Refers to the extent to which firms exploit opportunities, neutralize threats, and reduce expenses relative to the competition. Growth Stage - correct answer During the product lifecycle, when product awareness continues to build and consumers develop an understanding of the value of the product. ...