Businesses must be willing to spend the extra _ and _ in order to segment a market
time and money
100
What is the correct definition of a positioning strategy?
How a company presents its product or service to the consumer and how it competes in the marketplace.
100
Is Burger King a direct competitor of McDonald's?
Yes, Burger King is a direct competitor of McDonald's
100
The process of gaining competitors market information.
What is marketing intelligence?
200
What is market segmentation
a company's efforts directed at a specific group of consumers with unique needs
200
In a business environment what should organizations pay attention to and why?
They should pay attention to possible changes in the business environment because it might affect the position of their products and services.
200
Is YouTube NOT a direct competitor of Netflix?
No, YouTube is a direct competitor of Netflix
200
To attend this activity in order to obtain information about a competitors product.
What is a trade show?
300
What type of companies use mass marketing?
large companies with high-volume production and vast distribution reaching many national and international markets
300
What are consumer perceptions? What is their objective?
Consumer perceptions are the images consumers have of competing goods and services in the marketplace.
Their objective is to position their products to appeal to the desires and perceptions of the target market.
300
An airline decides to enter a new market and offers a very low fare for the first weeks or months. What is this an example of?
Price competition
300
Watching how the competitor promotes their business and knowing how to respond.
What is promotional efforts?
400
What is psychographic segmentation response for?
unique automobile models, health care products, sports venues
400
True/False
In a business environment there are continuous possible changes that affect the position of business products and services.
True
400
What other factors does nonprice competition emphasize on?
All other elements of the marketing mix besides price
400
Dumpster diving, hacking, bribing, and any other illegal activities conducted by a business to obtain a competitors' classified information.
What are unethical activities?
500
shampoo is an example of what?
benefit expectations
500
What are the bases for POSITIONING?
Attribute, price and quality, use or application, product user, product classification and competition.
500
Does competition benefit consumers whatsoever?
YES, there are many benefits to competition, like the improvement of products, or reasonable prices
500
"A business may work to collect a competitor's information about a new product or services and run it through their own...?..."