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