BUS chp 11

_____ is the process of separating, identifying, and evaluating the layers of a market to design a marketing mix.

market segmentation

The _____ is based on the five P's.

marketing mix

_____ involves creating a unique marketing mix for every consumer.

one-to-one

_____ is the process in which a firm continuously collects and evaluates information about its external environment.

environmental scanning

The Library is a new bar in town. Unlike the other bars in town, it charges no cover charge. The new bar has also priced its beer at $3 less per pitcher than its competition. Given what you know about pricing strategies, which pricing strategy is the owner of the new bar using?

penetration pricing

Which of the following is an example of an individual factor that influences the consumer decision-making process?

personality

_____ is a strategy that focuses on forging long-term partnerships with customers.

relationship marketing

Which of the following is a step in the new-product development process?

screening, concept testing,business analysis ( all of the above)

Which of the following is an example of a capital product that would be found in a brewery?

bottling machine

The process that products go through as they pass through their introduction, growth, maturity, and decline stages is called the:

product life style