Exam 4: Forms of Business Ownership

Segmentation by lifestyle,values,attitudes and interests is called psychographic segmentation.

The __________ is a theoretical model of what happens to sales and profits for a product class over time.

Sales promotion is the promotional tool that stimulates consumer purchasing and dealer interest by means of short term activities.

Product differentiation is the creation of real or perceived product differences.

__________ marketing is a marketing strategy with a goal to keep individual customers over time by offering them new products that exactly meet their requirements.

Selecting which groups an organization can serve profitably is called:

__________ is the procedure by which one or more dominant firms set the pricing practices that all competitors in an industry follow.

A total product offer consists of everything that consumers evaluate when deciding whether to purchase a good or service.

Target marketing is selecting which groups an organization can serve profitably.

Which of the following contributes to a unified image?

Campbell has expanded its product line to appeal to a number of different tastes.Campbell noticed the population growth in the Latino community in cities across the nation,so it introduced a red bean soup that would appeal to the Latino market.It also noticed the growth in the American South market so it introduced a Creole soup to appeal to those people.By providing different tasting soups for different populations of the U.S.Campbell is practicing:

A(n)________ is a marketing intermediary that sells to other organizations,such as the government and hospitals.

__________ marketing is the term now used to describe everything from paying people to say positive things on the Internet to setting up multilevel selling schemes whereby consumers get commissions for directing friends to specific Web sites.

Integrated marketing communication means that all areas of promotion provide the same message to consumers.

Category killers compete using selection competition.

Target costing means to price based on demand.A product is designed so it satisfies needs and meets the profit margins desired by the company.

Advertising is a paid personal communication by organizations and individuals who are in some way identified in the message.

The 4 Ps are product,price,place and promotion.

__________ is paid,non-personal communication through various media by organizations and individuals who are in some way identified in the advertising message.

There is much more emphasis on personal selling in consumer markets than in B2B markets.