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Set the Language Close. Add to Folders Close. Please sign in to add to folders. Upgrade to Cram Premium Close. Upgrade Cancel. Study your flashcards anywhere! How to study your flashcards. Play button. Card Range To Study through.Dividing a larger market into smaller markets that are similar in important ways is an example of market segmentation. See Page of the text for more information.Iso2god original xbox
When Ace Hardware designs an advertising program to attract "all comers" to buying hacksaw blades in its stores, this is an example of differentiated marketing Incorrect. A marketing effort designed to appeal to a broad range of mass market customers is called an undifferentiated strategy.
When a manufacturer designs an advertising program to sell its chain saws only to farm and professional segments, it is using what type of strategy? Selling products to a single target market segment is known as a concentrated marketing strategy. Developing a different marketing mix for each target market segment is known as a differentiated strategy.
When an organization attempts to develop a different marketing mix for each of its customers, it is using which type of strategy? Customized marketing requires designing a different marketing mix for each customer. Another term for customized marketing is data-based marketing Correct. Customized marketing is called both data-based marketing and one-on-one marketing. When Hallmark designs kiosks for use in shopping malls so that customers can design personalized greeting cards, this is an example of mass customization Correct.Catholic choir songs mp3
Using computers to mass produce cards for a small market segment is an example of mass customization. Gender is one of the examples of which market segmentation variable?
Personal characteristics, such as gender, age, race, and marital status, are called demographic variables. The Southwestern States in the U. Defining market segments according to geographical boundaries is using a geographic variable. Targeting soft drink users as light, medium, or heavy users depending on their consumption patterns is an example of which segmentation variable?
The frequency with which consumers use a product is part of their consumption patterns. Market segmentation requires creating subgroups of consumers which are similar to one another in important buying behavior characteristics. True Correct. The subgroups should be similar in gender, age, or income, depending on the type of product that is being purchased so that different marketing mixes can be designed for each subgroup.
False Incorrect. When a large group of consumers is subdivided into smaller groups of consumers depending on their demographic variables, we say that the market has been aggregated. True Incorrect. False Correct. Breaking down a large group into smaller groups is disaggregating the larger group. Undifferentiated marketing strategies are always unsuccessful.
A small retail store in a rural area can successfully try to attract all people who live within a given radius of the store if there is little competition from other retailers. The largest market segment that contains the heaviest users of the product should always be pursued by an organization.
The largest segment is likely to attract the most competition and it is frequently difficult to be successful when competitors keep lowering their price to try to attract buyers from their competitors. When the St. Louis Art Museum tries to attract "all people who live in or visit St. Louis" as its customers, this is an example of differentiated marketing. This is undifferentiated mass marketing, not differentiated marketing.Doesn't have to understand consumer needs if his product has some design improvements over his competitor's product.
Knows that consumer needs in product-markets are probably much more specific than those in a related generic market. The behavioral sciences provide the marketing manager with a complete explanation of the "whys" of consumer behavior. A marketing manager usually must blend intuition and judgment with findings from the behavioral sciences to explain and predict consumer behavior.
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Questions and Answers. Remove Excerpt. Removing question excerpt is a premium feature. According to the text, the economic-buyer theory:. Says that most consumers do not know the economic value of products they purchase.
Knows that only a few basic needs explain almost all consumer product choices. Will make fewer strategy planning mistakes if he uses the economic-buyer theory. According to motivation theory, the LAST needs a family would usually seek to satisfy would be:. Lower-level needs must be completely satisfied before higher-level needs become important. A particular good or service might satisfy different levels of needs at the same time. When consumers screen out or modify ideas, messages, and information that conflict with previously learned attitudes and beliefs, this is called:.
A change in a person's thought processes caused by prior experience is called:. The various classes tend to want different types of treatment by salespeople. In the U. According to the text, social class in the U. Behavioral scientists recognize different levels of consumer problem solving. Which of the following is not one of these levels?This will help in preparation of Ch 8 for Marketing exam.
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Sociology- Chapter 8 : Social Stratification
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More Marketing Management Quizzes. Marketing Principles Quiz. Featured Quizzes. Are You Liberal or Conservative? Related Topics. Questions and Answers. Remove Excerpt. Removing question excerpt is a premium feature. A company can obtain new products in two ways. One of them is via new product development. What is the other method? Idea generation phase creates lots of new ideas.
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Marketing Exam 2: Chapters Please view the flashcard to rate it. Flashcards Memorize Quiz Match Gravity. View Flashcards. Number of cards: All 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 Changes are done, please view the flashcard.
Shuffle Cards. Front Back Story 1: Apple. Loyal customers to the end. Includes: Need recognition, information search, evaluation of alternatives, purchase decision, and postpurchase behavior.
Scenarios where handling, examining, and using the product help influence your buying decision. The consumers may form a purchase decision based on factors such as income, purchase price, and product benefits. Unexpected events may change the consumers mind, such as job loss, sudden product recall, etc. Heavy users are often a small percentage of the market, but make up a large portion of the consumption.
Requirements for Effective Segmentation. Remove Ad. Removing ad is a premium feature. Internet Marketing Test 2: Marketing Metrics. Internet Marketing Test 2: Email Marketing.All of the choices are correct. Question 4 0. Question 7 0. Question 14 0. Build up-to-date marketing brochures Question 16 0. Question 20 0. Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website.
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Chapter 8 - Marketing And Brand Management
Necessary Always Enabled. Non-necessary Non-necessary. Business managers and IT professionals underestimating the complexity of the planning, development, and training needed.
Enterprise resource planning is recognized as a necessary ingredient that many companies need in order to:. ERP systems can provide vital cross-functional information on business performance to managers in a very timely manner. This describes the key business benefit of:.Chapter 8 Second Ed.
Marketing and Brand Management. Marketing tactics that promote off-label usages of a product that are not FDA approved but so widely accepted they can have the company's logo on them.Ch 8 Part 2 - Principles of Marketing - Kotler. Convenience, Shopping, Specialty, Unsought
A formal retraction that notes when a company mis-promoted something and needs to undo the statement. A letter from a patient to a doctor describing the side effects he is having from a certain product. Because the results from one study lead to new insights and then new questions which require further investigation. Because it is impossible to compile the results from one segmentation study and have them stand alone; numerous analyses are needed. To break down the patient population into small enough segments to determine where marketing will be the most lucrative.
Companies have access to all the information obtained in the trials and map that data to patient records. Companies pay clinicians "sponsor fees" to unblind their trial to access confidential information. Companies get doctors to encourage patients to contact the companies for more information about a specific product. If the patient contacts the company and provides information, then there is no confidentiality breach. Companies get information from prescribers and pharmacies that do not conflict with privacy laws.
Segmenting the large corporate accounts in terms of mechanism of drug action for market research. Segmenting the large corporate accounts in terms of their potential impact on the success of individual products. Segmenting the large corporate accounts in terms of product pipeline to identify future competition.
Walking the fine line between promoting the benefits of the product but adequately acknowledging the adverse effects. Marketing takes the lead for determining logistics of program deployment and making sure everything goes off without a hitch. Because the product launch offers the greatest opportunity to differentiate the product from its competitors. It is not considered the make or break factor. With solid post launch marketing and strong sales force activities, the product easily reach forecasted sales levels.
Because team members in the field have more contact with Key Opinion Leaders and can learn from them how their product is being received. Because they can see first hand how the promotional outreach is being received in the marketplace. This model encourages greater cross-functional cooperation and greater depth of therapeutic expertise.
This model is an FDA mandated change to prevent companies from controlling too big of a share of the market. Forgot your password? Speak now. Chapter 8 - Marketing And Brand Management. Please take the quiz to rate it. All questions 5 questions 6 questions 7 questions 8 questions 9 questions 10 questions 11 questions 12 questions 13 questions 14 questions 15 questions 16 questions 17 questions 18 questions 19 questions 20 questions 21 questions 22 questions 23 questions 24 questions 25 questions 26 questions 27 questions 28 questions 29 questions 30 questions 31 questions 32 questions 33 questions 34 questions 35 questions 36 questions 37 questions 38 questions 39 questions.
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