Marketing
__________ is dividing a market into segments based on consumer knowledge, attitudes, uses, or response to a product.
Behavioral segmentation
__________ describes the target market and the company's position in it, including information about the market, product performance, competition, and distribution.
Current marketing situation
__________ is the total combined values of all of the company's customers.
Customer equity
__________ is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.
Customer relationship management
__________are human wants that are backed by buying power.
Demands
__________ is company growth through starting up or acquiring businesses outside the company's current products and markets.
Diversification
awareness
In the adoption process, __________ is when the consumer becomes familiar with the new product but lacks information about it.
__________ is company growth by increasing sales of current products to current market segments without changing the product.
Market penetration
__________ is evaluating each market segment's attractiveness and selecting one or more segments to enter.
Market targeting
__________ is the art and science of choosing target markets and building profitable relationships with them.
Marketing management
__________ are some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
Marketing offerings
__________ is tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments.
Micromarketing
________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
Positioning
__________ is defined by consumers on important attributes—the place the product occupies in consumers' minds relative to competing products.
Product position
__________ is the portion of the customer's purchasing that a company gets in its product categories.
Share of customers
What is a value delivery network?
The network made up of the company its suppliers, its distributors, and ultimately, it customers who partner with each other to improve the performance of the entire system.
Marketing stimuli
__________ are such things as product, price, place, and promotion and are considered part of the environment that influences the buyer's black box.
Concentrated marketing is __________.
a market-coverage strategy in which a firm goes after a large share of one or a few segments or niches
__________ is the series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products.
a value chain
economic, technological, social, and cultural stimuli
are part of the environment that enter the consumer's black box and produce certain responses.
__________ are low-growth, high-share businesses or products.
cash cows
The marketing process captures value from customers by __________.
creating profits and customer equity
__________ are low-growth, low-share businesses and products.
dogs
what a social factor that influences consumer buying behavior?
family
Stars are __________.
high-growth, high-share businesses or products
__________ is the marketing logic by which the company hopes to create customer value and achieve profitable customer relationships.
marketing strategy
Which of the following strategies is most likely to be followed by firms that position themselves as caterers of the best products at economical prices?
more-for-less
________ is the first stage of the buyer decision process, in which the consumer notices a problem.
need recognition
what is a major influence on business buyer behavior?
organizational factors
The __________ is the idea that consumers will favor products that offer the most quality, performance, and features; therefore, the organization should devote its energy to making continuous product improvements.
product concept
Service Variability
quality of services depend on who provides them as well as who, when, where, and how they are provided
__________ are low-share business units in high-growth markets.
question marks
Service Intangibility
services cannot be seen, tasted, felt, heard, or smelled before they are bought
Service Inseparability
services cannot be separated from their providers, whether the providers are people or machines
Service Perishability
services cannot be stored for later use or sale
The __________ is the idea that a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests.
societal marketing concept
_________ are high-growth, high-share businesses and products
stars
Needs are __________.
states of felt deprivation
__________ is a group of people with shared value systems based on common life experiences and situations.
subculture
The production concept is __________.
the idea that consumers will favor products that are available and highly affordable; therefore, the organization should focus on improving production and distribution efficiency
perception
the process by which people select, organize, and interpret information to form a meaningful picture of the world
firms target a whole market based on common consumer needs?
undifferentiated marketing
A __________ is a specific attribute that a company chooses about a brand and touts as "number one" in regards to that attribute.
unique selling proposition
A __________ is the full mix of benefits on which a brand is positioned.
value proposition
__________ are the form human needs take as they are shaped by culture and individual personality.
wants