Unit 10

Question 1

consists of dynamic activities that identify, anticipate, and satisfiy customer demand while making a profit

Answer 1

marketing

Question 2

an approach to business that focuses on satisfying customers as the means of achieving profit goals

Answer 2

marketing concept

Question 3

What are the Elements of the Marketing Concepts?

Answer 3

• Customer Satisfaction
• Total Company Approach
• profit

Question 4

the degree to which customers are pleased with a company’s or services

Answer 4

customer satisfaction

Question 5

all the functions of a company working together to achieve goals

Answer 5

Total Company approach

Question 6

The difference btwn income earned and expenses incurred during a specific period of time

Answer 6

profit

Question 7

What are the 4 p’s of marketing

Answer 7

product price place and promotion

people too

Question 8

What is anything that can be bought or sold

Answer 8

a product

Question 9

What is the amount of money requested or exchanged for a product

Answer 9

Price

Question 10

What is the activities involved in getting goods and services to customers

Answer 10

place

Question 11

what is the process of communication with potential customers in an effort to influence their buying behavior

Answer 11

promotion

Question 12

What are the functions of Marketing

Answer 12

• Channel Management - Product/Service Management - Pricing - selling - Marketing - Information Management - Promotion
• market planning

Question 13

What are the specific group of customers whose needs a company will focus on satisfying

Answer 13

A target market

Question 14

What is the plan that helps a business meet its overall goals and objectives

Answer 14

Marketing Strategy

Question 15

What is the document describing business and marketing objectives and the strategies and tactics to achieve them

Answer 15

The Marketing Plan

Question 16

the process of dividing the market into smaller groups

Answer 16

marketing segmentation

Question 17

What are the different ways a market could be segmented

Answer 17

1. Demographic 2. Behavioral 3. Geographical 4. Psychographic

Question 18

Segmenting the market based on where customers live region climate and population

Answer 18

Geographic segmentation

Question 19

dividing the market of potential customers by their personal statistics

Answer 19

Demographic segmentation

Question 20

Dividing the market by certain preference or lifestyle choices

Answer 20

Phychographic segmentation

Question 21

divides a market by the relationships between customers and the good or service.

Answer 21

Behavioral Segmentation

Question 22

a detailed description of the typical consumer in a market segment

Answer 22

customer profile

Question 23

marketing to a larger group of people who might buy a product

Answer 23

Mass Marketing

Question 24

the strategy for using the element of product, price, place, and promotion

Answer 24

Marketing Mix

Question 25

Focuses on building long-term relationships with customers

Answer 25

Relationship selling

Question 26

a system of gathering, storing, and usin customer data for marketing directly to customers based on their histories

Answer 26

Database Marketing

Question 27

a system to track contact and other information for current and potential customers.

Answer 27

Customer relationship management system

Question 28

The power to sway or produce an effect

Answer 28

influence

Question 29

what is customer behavior typically based on?

Answer 29

social psycgological situational and personal

Question 30

the influences that come from the society in which a person lives including family peers culture and media

Answer 30

social influences

Question 31

the influences that come from within a person or why a person has specific needs or wants

Answer 31

psychological influences

Question 32

for B2C are the influeces that come from the environment | ex. weather, store location, time of day, and current sales promotions

Answer 32

Situational influences

Question 33

the influences that make each individual that make each individual unique

Answer 33

Personal Influences

Question 34

What are some of the steps in the Decision-Making Process

Answer 34

1. Define the problem/challenge 2. research alternatives 3. choose the best alternative 4. implement the decision 5. Evaluate the decision

Question 35

A purchase made with no planning or research

Answer 35

impulse buying decision

Question 36

a purchase made quickly and with little thought

Answer 36

routine buying decision

Question 37

a purchase that requires some amount of research and planning

Answer 37

limited buying decision

Question 38

a purchase that invloves a great deal of research and planning

Answer 38

ectensive buying decision

Question 39

What are the differet kinds of Consumer buying decisions ?

Answer 39

Impulse routine limited Buying Decision extensive Buying decision

Question 40

What are the different kinds of business buying purchases>

Answer 40

new purchase, repeat purchase, modified purchase

Question 41

Whar are omtivators or change factors that come from within the business itself

Answer 41

Internal Influences

Question 42

what are motivators or change factors from outside the business

Answer 42

External Influences

Question 43

for B2B are those from the enviroment in which the business exists

Answer 43

situational influences

Question 44

A decision to buy a nre product which requires a great deal of research an thought for a business

Answer 44

New purchase

Question 45

a buying decision that require little research and thought

Answer 45

repeat purchase

Question 46

a decision to buy a familiar product but with some changes or modifications

Answer 46

modified purchase

Question 47

governments buy what services

Answer 47

food preperation, education, security, and medical care