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Use the items/terms below to put them in order of the way a company would use them to reach their desired end result of segmentation. From the vastest to the most specific.

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Business

386 Terms

1

Use the items/terms below to put them in order of the way a company would use them to reach their desired end result of segmentation. From the vastest to the most specific.

Market, Market Share, Market Segmentation, Target Market, Customer Profile

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2

True or False: In a business, knowing one's market share helps marketers analyze their competition and their status in a given market.

True

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3

As a comsumer we have literally an unlimited amount of product available to us and can usually get them at various different places, this is an example of what economic benefit?

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a. all three economic benefits

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b. Lower Prices

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c. Utility

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d. New and Improved Products

D

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8

True or False: When businesses are making decisions about where to place, price and promote products the customer profile is an item that should be referred to.

true

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9

Creating a shoe from recycled rubber is an example of what type of utility?

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a. Place

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b. Possession

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c. Form

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d. Information

C

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14

During the highest point of Covid numbers many stores were offering early hours for the elderly (due to a high risk rate) this is an example of what type of utility?

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a. Form

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b. Information

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c. Place

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d. Time

D

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19

The function of marketing that is involved when Vans releases a new pattern of their classic shoe is?

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a. Selling

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b. Market Planning

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c. Channel Management

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d. Product/Service Managment

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e. Marketing Information Management

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f. Promotion

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g. Pricing

D

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True or False: Marketers think that spending money to collect data is a waste of time and that the purchases of customers tell them enough information to make decisions regarding marketing strategies.

false

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28

An Apple worker going through the features of a IPAD and communicating how it will work to satisfy your needs as a customer is an example of what function?

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a. Pricing

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b. Product/Service Management

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c. Marketing Information Management

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d. Channel Management

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e. Selling

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f. Promotion

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g. Market Planning

E

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36

When I buy my children new clothes for school or sports I am a part of what type of market?

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a. Consumer

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b. Organizational

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c. B2B

a

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40

List the 7 core functions

channel management, marketing info management, market planning, pricing, product/ service management, promotion, selling

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41

The marketing mix activity that deals with decisions based on product choices, features, brand name, and packaging is?

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a. Place

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b. Product

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c. Price

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d. Promotion

b

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46

After Joe has given the allotted time for the survey to run, gone through the sales data, and looked at the consumer comments on the Facebook page he has gathered enough information to decide that the company needs to look at the customer service department and make some changes. The process above is an example of what type of function?

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a. Channel Management

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b. Pricing

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c. Selling

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d. Market Planning

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e. Product/Service Management

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f. Marketing Information Management

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g. Promotion

f

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54

When deciding how to enter into a market place companies look at their competition and analyze how they are priced in that market. This is an example of what function?

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a. Promotion

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b. Market Planning

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c. Product/service management

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d. Selling

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e. Pricing

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f. Marketing Information Management

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g. Channel Management

e

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62

When shopping at Meijer Sue was able to purchase the items she needed for dinner, the supplies that were needed at work, and a new fishing pole for her husband's birthday, this is an example of what type of utility?

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a. Information

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b. place

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c. time

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d. possession

b

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Which economic utility increased when McDonald's began using a cellular phone/tablet app for ordering for its customers?

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a. Information

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b. Place

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c. Possession

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d. Form

c

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72

True or False: Customer Relationship Management (CRM) can arguably be the most important part of the interactions that take place in a business.

true

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73

Best Buy has implemented apple pay into the payment options at all store, this is an example of what function?

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a. Time

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b. form

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c. possession

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d. place

c

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After looking at their share of the cleat market addias wanted to find commonalities between those who were purchasing thier cleats. So the company began to break apart their market to analyze and classify members, this is called?

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a. customer profile

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b. market share

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c. market segmentation

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d. target market

c

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83

During economic times that are seen as positive consumers are spending money as prices are seen as a value and inflation is very low. This would explain what economic benefit of marketing.

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a. Utility

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b. New and Improved products

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c. all of the above

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d. Lower prices

d

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88

Nike using three different shipping methods to get their tennis shoes to the customer and consumers within a 2-week window of being made is an example of what type of function?

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a. Marketing information Management

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b. Selling

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c. Market Planning

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d. Channel Management

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e. Promotion

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f. Pricing

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g. Product/service management

d

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  1. The idea that a business should strive to satisfy customer's needs and wants while generating a profit for the firm

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  1. Tangible items that have monetary value and satisfy your wants and needs

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  1. The activity of set institutions, and processes for creating communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large

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  1. The added value of a product in economic terms

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  1. The group that is identified for a specific marketing program

  1. marketing concept

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