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Building and nurturing relationships with consumers in order to create profit for businesses
What is marketing?
Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization.
What is macroenvironment?
________ is the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities.
What is strategic planning?
Every company faces _____ levels of competitors
What is four?
Packaging is an element of the ________ component of a company's marketing mix.
What is product?
________ are distribution channel firms that help a company find customers or make sales to them.
Who are resellers?
A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy their needs.
What is value proposition?
The two dimensions that the BCG approach uses to evaluate and manage SBUs
What market growth rate and relative market share
________ are the form human needs take as they are shaped by culture and individual personality
What are wants?
A ________ is made up of a company, its suppliers, its distributors, and its customers who partner with each other to improve the performance of the entire system.
What is value delivery network?
________ is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.
What is Demography?
The ________ environment is perhaps the most dramatic force shaping the destiny of individuals and offering exciting opportunities for marketers.
What is technological?
The first step in marketing process
What is understanding the marketplace and consumer needs and wants?
Employee unions belong to a company's ________ publics.
What is internal?
Which of the following generational groups accounts for 25 percent of the Canadian population but still controls the highest spending power of any age cohort?
Who are baby boomers?
The ___________ concept holds that consumers will favour products that are available and highly affordable.
What is production?
Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviours
What is market segmentation?
Perception, motivation, and learning are elements associated with which consumer behaviour factor?
What is psychological?
A popular blogger who writes and passes along news, features, and editorial opinions about your business would be considered which type of public?
What is media?
Involves managing detailed information about individual customers and carefully managing customer “touch points” in order to maximize customer loyalty.
What is Customer Relationship Management (CRM)?
According to the text, ________ are the most important actors in a company's microenvironment.
Who are customers?
the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
What is Marketing research?
The impact of the personal words and recommendations of trusted friends, associates, and other consumers on buying behaviour.
What is Word-of-mouth influence?
A growth strategy that involves increasing sales of current products to current customers without changing the product, this is called a ________ strategy.
What is market penetration?
The first step of the marketing research process.
What is defining the problem and research objectives?