Biz 201 Marketing Quiz Chapter 7

What is AMA Code of Ethics

american Marketing Association which shows honesty

What is B2B

Business to Business

What is B2C

Business to Customers

Types of Scope of Marketing

people, place, event, idea, emotions

what is People

representing a brand or themselves

what is place

advertising a place

What is event

advertising an event or at an event

What is Idea

advertising an idea like don’t drink and Drive

what is emotions

marketing by getting sutomers by connecting with their emotions, pulling on their heart strings

What is Green Marketing

developmepent and promotion of products with ecological benefits

what does CRM stand for

customer relationship manegment

What is CRM

mainting customer loyalty, value, satisfaction

What is MArket segmentation

to divide the market into groups of people or segments that are similar to one another and different from everyone else

What is demographic

The Who

Demographic

dividing based on characteristics about people, such as age, income, ethnicity, and gender

What is geographic

The Why, dividing based on where consumers live

What is psychographics

dividing on consumer attitudes, interests, values, and lifestyle

What is behavioral

dividing people based on how people behave towards various products

What is the Marketing Mix, 4 Ps

Product, price, place, and promotionW

What is marketing Mix of product

functionality, brand, packaging, servicesW

What is Marketing Mix Price?

discounts, bundling, credit terms

What is marketing mix place

channel, inventory, logistics, distribution

What is marketing mix promotion

advertising, sales force, publicity, sales promotion

What is price value

a customer perception that a product has a better relationship than its competitors between costs and benefits

What is promotional strategy

advertising, sales promotion, personal selling, social media

What are the 5 core steps of marketing

analyze environment, segment market, define target market, define marketing mix, evaluate and adjust

what is e-commerce

marketing, buying, selling, and servcing products over the internet

Data miniing

statistical techniques to anaylyze vast amounts of data to discover hidden patterens and relationships

Mass customization

creation of products tailored for individual consumers on a mass basis

cognitive dissonance

consumer discomfort with a purchase decision, typically for a higher priced item

New product development process

idea generation, idea screening, analysis, development, testing, commericialization