Marketing Principles and Strategies Test

Chapter 10 Marketing Test Question Influence that comes from the society in which a person lives is called ____. Many businesses use ____ to gather, store, and use customer data for marketing. The three levels of buying decisions for businesses are new purchase, repeat purchase, and ____ purchase. The four Ps of marketing are product, price, place, and ____. A(n) ____ buying decision is when a consumer purchase made with no planning or research. ____ consists of dynamic activities that identify, anticipate, and satisfy customer demand while making a profit. ____ selling focuses on building long-term relationships with customers. Segmenting a market based on where customers live is ____ segmentation. A ____ is a document describing business and marketing objectives and the strategies and tactics to achieve them. The ____ is a specific group of customers whose needs a company will focus on satisfying. Amount of money requested or exchanged for a product. Dividing the market of potential customers by their personal statistics. B2C purchase that involves a great deal of research and planning. Divides a market by the relationships between customers and the good or service. Approach to business that focuses on satisfying customers in order to achieve profit goals. B2C purchase made quickly and with little thought. Process of communicating with potential customers in an effort to influence their buying behavior Includes the activities involved in getting goods and services to customers. Strategy for using the elements of product, price, place, and promotion. Influence that makes each individual unique. Motivator or change factor that comes from within the business itself. Marketing to a larger group of people who might buy a product. Anything that can be bought or sold Motivator or change factor from those outside the company. Detailed description of the typical consumer in a market segment. A(n) ____________________ is a B2B buying decision that requires little research and thought. The function of marketing that includes decisions about advertising, personal selling, customer service, publicity, promotional events, and store design and layout is ____________________. The function of marketing that handles activities involved in getting products through the different routes from the producers to the customers is ____________________. Answer social influence database marketing modified promotion impulse Marketing Relationship geographic marketing plan goal market price demographic segmentation extensive buying decision behavioral segmentation marketing concept routine buying decision promotion place marketing mix personal influence internal influence mass marketing product external influence customer profile repeat purchase promotion channel management Influences that come from within a person or why a person has specific needs and wants are called ____________________ influences. ____________________ segmentation divides the market by certain preferences or lifestyle choices. The ____________________ includes national, state, and local government offices and agencies. Consumers make ____________________ buying decisions buying unfamiliar products or those that are purchased only occasionally. Influences from the environment in which a business exists are ____________________ influences. The ____________________ is the strategy for using the elements of product, price, place, and promotion. Businesses that sell primarily to other businesses are in the ____________________ market. ____________________ segmentation divides a market by the relationships between customers and the product or service. The strategy of ____________________ focuses on building longterm relationships with customers. A system to track contact and other information for current and potential customers is called a(n) ____________________ system. All functions of a company working together to achieve goals is the ____________________. What are the three basic types of customers? Identify the elements of the marketing concept What are the four types of market segmentation? psychological Psychographic government limited situational marketing mix business-to-business (B2B) Behavioral relationship selling customer service relationship management (CRM) total company approach Consumers (also known as the business-to-consumer (B2C) market), businesses (also known as the business-to-business (B2B) market), and government and institutions. The three elements of the marketing concept are customer satisfaction, total company approach, and profit. Geographic, demographic, psychographic, and behavioral.