Exam 2: Creating Marketing Strategies for Customer-Centric Organizations

____ can help analyze the subtle ways buyers and sellers interact in the marketplace and can be useful in business negotiation processes.

What is meant by intermarket segmentation?

Which of the following would not strengthen customer loyalty?

According to consumer research, which of the following prices would be most likely to evoke perceptions of high quality?

The ability to understand the inner logic and coherence of other ways of life and refrain from judging other value systems is called:

____ occurs when an organization chooses to market and sell the same product and service to all consumers.

The attractiveness of a market segment depends on a number of factors, including its size and accessibility.

Research indicates that consumers perceive products with prices ending in round numbers and $.00 to be of lower quality.

The size of the market refers to:

In the 4 P's that comprise the marketing mix, price refers to the disutilities given up by consumers. These disutilities include:

A group of consumers with similar needs and behavior that differs from those of the entire mass market is called a:

A successful brand strategy would provide an emotional connection between a firm and its customers.

Intermarket segmentation involves segmenting a market based on where people live.

____ involves the allocation of resources to develop and sell products or services that consumers will perceive to provide more value then competitive products or services.

The difference in value created by a brand less the cost of creating the brand is known as brand equity.

The average failure rate of new products launched in the market is about 39 percent.

Price is the total bundle of disutilities given up by consumers in exchange for a product.

What is consumer insight? Why is it so important to today's marketer?

Intermarket segmentation is the identification of groups of customers who transcend traditional market or geographic boundaries.

The less individualized the product and the larger the segment for which it is designed, the greater the likelihood that the costs to the marketer will increase.