4.11.M - Lesson Assessment

The marketing concept can be defined as fulfilling customer ____while achieving company ____.

needs...goals

An advertisement for a new product is usually the ________ thing that is done by a company when promoting that product.

Last

After determining whether their product will be sold on the consumer or industrial market (or both), marketers must divide the market into smaller market segments. What are those four segments?

segmentation are demographic, geographic, behavioral, and psychographic.

Match the kind of market to its description. a specific set of customers for which a product is created people who buy products for personal consumption people who buy products to use in the manufacture of other products

1) Target 2) Consumer 3) industrial

The four basic steps of the marketing concept are: 1)__what customers need or want. 2)___products that fulfill those needs or want. 3)___value to customers by engaging the entire business to satisfy them. 4)profits from satisfied customers and achieve company goals.

1)Discover 2)Develop 3)Deliver 4)Derive