Marketing Concept
Target Market
Market Segmentation
Marketing Mix
Miscellaneous
100
The customers needs and wants to develop a better product.
What does the marketing concept focus on?
100
A specific group of consumers to whom the business wants to sell its products or services.
What is target market?
100
Dividing a large group of consumers into meaningful subgroups.
What is market segmentation?
100
The amount a customer pays for a good or service.
What is price?
100
Consumer characteristics- such as age, gender, race, etc.
What is demographics?
200
It identifies and responds to customers needs and wants.
What is a successful business?
200
True.
True or False: A business marketing and sales initiatives are based upon identified target markets.
200
False.
True or False: Massmarketing is an attempt to appeal to a SMALL general group?
200
Quality, perception, price, promotion, trends, and the economy.
What is consumer demand influenced by?
200
Most american have families.
What are gender and income important influences are marketing decisions?
300
Example: McDonalds serving dollar menu
What is an example of a company trying to fix a bad economy?
300
By viewing the market as one big one rather than a segmented market.
What is undifferentiated strategy?
300
People who share more than one characteristics.
What is market segment?
300
False.
True or False: The marketing mix is referred to as the five P's.
300
Describe consumers based on their interests, attitude, opinions, and lifestyles.
What is psychographics?
400
Conduct research.
What must business do to be successful?
400
It serves two or more target markets.
What is multiple segment strategy?
400
It helps people relate to their products.
Why are companies incorporating humor into their advertisements?
400
Place.
What is distribution also referred to as?
400
Refers to the amount of product being purchased or used.
What is product usage?
500
Three.
How many point are there to a successful implementation of the marketing concept?
500
*Discuss within class* b/c Dela doesn't know the answer.
What type of strategy do you think a motorcycle shop would use?
500
True.
True or False: Some businesses use the opposite approach to market segmentation- mass marketing.
500
Used to promote strategies to build relationships with customers.
What is promotion?
500
Consumers based on specific benefits.
What is benefit segmentation?
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