Peter Pan
Walter is a salesperson who believes it is important to ask customers what they want and then try to meet their expectations. Which key aspect of the marketing concept does this demonstrate?
What is Customer Satisfaction?
_______ is defined as a customer's perception that a certain product offers a better relationship between costs and benefits than competitors' products do.
What is Value?
Which element of consumer buying behavior includes income level, profession, and political status?
What is Social Class?
Which element of consumer buying behavior includes fashion and lifestyle?
What is Personal Image?
The ________ consists of all those individuals or households that want goods or services for their personal use.
What is Consumer Market?
________ emphasizes finding out everything possible about customers and then using that information to satisfy and even exceed their expectations in order to build customer loyalty over the long term.
What is Customer Relationship Management?
Carla wanted to buy the expensive designer purse, but the lesser-known brand was just as cute and half the price. Carla is in which step of the consumer buying process?
What is Evaluating Alternatives?
Which element of consumer buying behavior includes friends, family, and coworkers?
What is Reference Groups?
________ marketing consists of dividing market segments into microsegments for which sales may be profitable.
What is Niche?
________ marketing consists of reducing market segmentation to the smallest part—individual customers.
What is One-to-One?
The ________ consists of the four key strategy considerations called the four Ps.
What is Marketing Mix?
Which of the four Ps involves distributing the product to a place where consumers will buy it?
What is Place?
The marketing process begins with ________ to determine whether there's a market for the product the company is considering producing.
What is Conducting Research?
________ is marketing research designed to solicit initial consumer reaction to new product ideas.
What is Concept Testing?
Connie's Chalupas has placed samples of its product in grocery stores in mostly Hispanic neighborhoods to see how customers react to them. This company is conducting
What is Test Marketing?
________ segmentation consists of categorizing consumers according to statistical characteristics of a population, such as gender, age, income, and so on.
What is Demographic?
________ segmentation categorizes customers according to location.
What is Geographic?
________ segmentation consists of categorizing people according to lifestyle, values, and psychological characteristics.
What is Psychographic?
________ segmentation consists of categorizing people according to the benefits, or attributes, that people seek in a product.
What is Benefit?
________ segmentation consists of categorizing people according to volume or frequency of usage, as with heavy users versus light users.
What is User Rate?
Ned and Brad's windows were not energy efficient and their electric bills were sky high. They had to decide what to do about them before winter. Ned and Brad are in which step of the consumer buying process?
What is Problem Recognition?
Once Ned and Brad realized they had a problem with their leaky windows, they asked friends and looked on the Internet to see what options they had to solve the problem. This represents which step of the consumer buying process?
What is Information Search?
After researching their options, Ned and Brad chose to buy new energy efficient windows from a local window company. In which step of the consumer buying process are Ned and Brad?
What is Purchase Decision?
Ned and Brad had their new windows installed and invited the neighbors over to see them. The neighbors asked them how they liked them, to which they responded, "They're great!" This exemplifies which step in the consumer buying process?
What is Postpurchase Evaluation?
________ is dividing a market into groups whose members have similar characteristics or wants and needs.
What is Market Segmentation?