MKT 120 Exam1 Review

A brand's ___ is the set of benefits it promises to deliver to consumers to satisfy their needs

A channel stretching from raw materials to components to final products that go to final buyers

You know have the buying power to purchase the computer you wanted. Your want became a

Companies have responded to consumers' back-to-basics sensibility in spending patterns through

Product development strategies & diversification strategies involve

Building & maintaining profitable relationships by delivering superior value & satisfaction

Total combined customer lifetime values of all the company's current & potential customers

The portion of the customer's purchase that a company gets in its product categories

What is a company's business portfolio?

____ is the act of obtaining a desired object from someone by offering something in return.

The ___ concept says consumers favor goods that offer the most quality, performance, & features

Process of evaluating each market segment's attractiveness and selecting one or more to enter

___ markets consist of individuals and households that buy goods & services for personal use.

The first step in marketing is

_____ are defined as states of felt deprivation

Market penetration strategies & market development strategies primarily involve