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Marketing Class #2 - Key Concepts Flashcards | StudBud

Explore/Marketing Class #2 - Key Concepts

From the buyer’s viewpoint, the four Ps might be better described as the....

_____ : Attempting to occupy a desirable place in the minds of target consumers

Marketing Class #2 - Key Concepts

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Review of Concepts from Class #2 (Chapter 1)

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Questions 5

Answers

1
_____ : Attempting to occupy a desirable place in the minds of target consumers
Positioning
Differentiation
Presence
Hypnosis
2
From the buyer’s viewpoint, the four Ps might be better described as the....
.... four Cs
.... four Cs
.... four As
.... four Bs
3
Market segmentation involves:
Marketing to several groups in the same way
Selecting one or more segments to serve
Dividing the mrkt into groups of customrs with similar needs
Creating value for the market
4
The Marketing Mix 4 P's are:
Product, participate, price & promotion
Product, place, price & perform
Product, place, policy & promotion
Product, place, price & promotion
5
Understanding the marketplace and customer needs involves all EXCEPT:
Value creation--> customers receiving value & satisfaction
Marketing products the same way to various market segments
Requires an understanding of customer needs, wants & demands
Creating customer relationships & exchanges