Business 330 - Principles of Marketing (Ch 6-9)

Business markets are typically divided into four categories. These categories are

producer, reseller, government, and institutional.

While shopping at a local grocery store, Taylor sees a display of his favorite brand of energy drink. He buys some to take home for the weekend. This purchase process would be described as

routinized response behavior.

Volkswagen markets its Routan to large families, its R32 racecar to men, and its Jetta to young singles. What targeting approach is Volkswagen using?

Differentiated

Which of the following products would probably require extended decision making before a purchase?

Expensive products

Which type of business market tends to have the most complex buying procedures?

Government

Mattel views the toy market as composed of four age groupings, each with different needs and desires. Mattel is using a(n) _____ targeting strategy for its groups, which are known as _____.

differentiated; market segments.

The United States' prohibition against importing cigars from Cuba is an example of a(n)

embargo.

Justin is purchasing his third car in the past five years. He has been a car enthusiast ever since he was a young boy. Justin likes to spend his free time looking at car magazines, going to car shows, and watching NASCAR. Justin's interest in cars is referred to as

enduring involvement.

The country with the highest GDP is

the United States.

When a firm designs a single marketing mix and directs it at an entire market for a particular product, the company is using a(n) _____ strategy.

undifferentiated