MKTG 2500 Final Exam (All Chapters) with Complete Solutions.

5 Developments in the Changing Marketing Landscape correct answers 1. The Digital Age 2. The Changing Economic Environment 3. The Growth for Non-For Profit Marketing 4. Rapid Globalization 5. Sustainable Marketing Targeting correct answers Process of evaluating each markets attractiveness and selecting one or more segments to enter Positioning correct answers Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in minds of consumers Differentiation correct answers Differentiating the market offering to create superior customer value 4 P's of Marketing correct answers Product Price Place Promotion Motive / Drive correct answers Need directly related to satisfaction Attitude correct answers Positive/negative feelings or evaluations Cognitive Dissonance correct answers Buyer discomfort caused by post purchase conflict Factors that influence consumer behavior correct answers Cultural Social Personal Psychological Types of market segmentation correct answers geographic, demographic, psycho-graphic, behavioral Requirements for effective segmentation (5) correct answers Measurable Accessible Substantial (market is large/profitable enough to serve) Differential (market is distinguishable and able to serve) Actionable What firms should look at when evaluating potential market segments correct answers Size and growth