What is Marketing?
CRM stands for this system of managing customer relationships.
What is Customer Relationship Management?
The group a business designs a marketing mix for is called the ________.
What is the target market?
True or False: Charts and graphs are required for reporting findings.
What is False?
The process of dividing the market into groups with similar needs is called ________.
What is market segmentation?
This company uses a smiling arrow in its logo to show that it sells “everything from A to Z.”
What is Amazon?
These four variables—Product, Price, Place, Promotion—make up the ________.
What is the marketing mix?
The growth-share matrix uses these four categories to classify products.
What are Stars, Cash Cows, Question Marks, and Dogs?
In APA, the process of collecting, analyzing, and reporting insights to solve a specific marketing problem is called ________.
What is market research?
These are the four main segmentation variables.
What are demographic, geographic, psychographic, and behavioristic?
This coffee company created a loyalty app that lets customers collect “stars” toward free drinks.
What is Starbucks?
Customer Value = __________ – __________.
What are customer benefits – customer costs?
When a company matches a core competency to opportunities in the marketplace, it achieves a ________.
What is a competitive advantage?
This type of research method involves watching behaviors in real time.
What is observation?
Segmenting a market based on benefits sought by consumers is called ________.
What is benefit segmentation?
This company has a lifetime return policy.
The philosophy that organizations should try to satisfy customers’ needs while achieving their goals is called the ________.
What is the marketing concept?
This competitive strategy focuses on increasing sales in current markets with current products.
What is market penetration?
The first step in the marketing research process is ________.
What is locating and defining problems or issues?
The automobile market is an example of a ________ market because customer needs differ widely.
What is a heterogeneous market?
This fast-food chain uses the slogan “I’m Lovin’ It” in its advertising.
What is McDonald’s?
The main goal of marketing is not just selling, but ________.
What is satisfying customer needs while helping the business achieve its goals?
This strategy uses one marketing mix for the entire market.
What is an undifferentiated targeting strategy?
Which of these is NOT an example of primary research: surveys, interviews, observation, or reading a government report?
What is reading a government report?
Market potential is best defined as ________.
What is the maximum sales volume available to all firms in an industry over a specific time?
In 2010, this beverage brand ran a viral campaign where customers’ names were printed directly on bottles.
What is Coca-Cola (Share a Coke)?