What is micromarketing - 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...

What is micromarketing? correct answers The practice of tailoring products and services/marketing to suit the taste of specific individuals. True or False: Core customer value is the value benefit bought by the customer. correct answers True What is the first stage of product development? correct answers Idea generation Which one of the 4 P's is the only one to receive revenue? correct answers price Which of the following is an example of undifferentiated marketing? correct answers ...

Goal of Customer- Driven marketing strategy - to create VALUE for targeted customers Market Segmentation - Dividing a market into smaller groups with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. (taking heterogeneous customers and dividing them into more homogeneous groups) selecting customers to serve - - "Who is our customer?" -Selecting customers to serve using segmentation and targeting -We cannot make any other decisions as...

MKT 315 Midterm 1 GCUWhat is the process that determines what is needed, how to collect it, analyze it, and use it for effective market planning? - correct answer Marketing information system Pete's Car Wash will donate 10% of Platinum Car Wash purchases to feed the homeless. This is an example of _________. - correct answer Cause Marketing A detailed marketing plan does not include: - correct answer Marketing Mix Ginger Jones was reading an interesting newspaper article that discus...

Based on your reading of the chapter case discussing DHL, what led DHL to reconsider using a decentralized database system for local data? a. Decentralization raised costs b. Risks of local information centers would fail and jeopardize shipments in other countries c. Difficult to quickly change systems globally d. All of the above - correct answer d Today, the combined annual value of imports and exports from all nations is approximately: a. $67 billion. b. $27 billion. c. $20 tril...

Producers of popular beverages often partner with global music channels to target consumers through a variety of promotional events and advertisements. This approach to marketing is referred to as ________ segmentation. correct answers intermarket One reason demographic variables are the most popular bases for segmenting customer groups is because they ________. correct answers are easier to measure than other variables Which of the following is an approach where firms target a whole marke...

Management Organizational Behavior Exam 1 Latest 2023 Graded A Organizational Behavior A field of study that investigates the impact that individuals, groups, and structure have on behavior within organizations for the purpose of applying such knowledge toward improving an organizations effectiveness. Management getting things done through others interpersonal "blank" skills play a huge role in determining a managers effectiveness. Organization consciously coordinated social unit Planning,...

A detailed marketing plan includes - marketing mix Government Regulation suppliers competitors the economy business trends finances and the weather are - External Factors I Got 6 wrong so 80% - I don't know what I got wrong because the majority came from other quizlets Im sorry in the late 1990's with of the following was third place in the minds and wallets worldwide consumers - MasterCard Marketing includes which of the following activities - Pricing a Product Social factors include ...

What is marketing & common properties of it? correct answers Marketing is the selling of a product. Common properties include Brings Buyers and Sellers together, establishes market prices, Moves product through the market for consumption, Makes products more desirable. What is food marketing? correct answers Performance of all business activites involved in the flow of food products services from the point of initial agricultural production until they are hands of consumers. Begins with produ...

MKT-315 Midterm Exam Questions With Complete Solutions Social factors include: - CORRECT ANSWER demographics, culture, and norms Which of the following options is not used in SWOTT analysis to set a direction in the brand of a highly competitive marketplace? - CORRECT ANSWER Segmentation The process of developing and executing strategies and tactics to market and sell a product or service to a very specific target segment is: - CORRECT ANSWER Micromarketi...