Ch. 2 The Marketing Concept/Supply & Demand Unit

Understanding an ethnic group's religion is part of market segmentation.

Mrs. Yamura bought her son Kalen a radio-controlled car for his birthday.  

Information about the values and attitudes that shape consumers' lifestyles are called

A ________ market is the best time for consumers to buy.  large supply/low demand=low price

Selecting appropriate brand name for a new snack food is a product strategy.

In marketing terms, customers are the people who USE a product.

The law of supply/demand states when a good has a high demand, the supply increases and ...

Promoting shampoo based on what the shampoo can do for your hair is an example of

A population's changes in personal attitudes about health, fun, and living.

Creating a plan to meet the needs and desires of a specific group of potential customers

Which would be bought with Discretionary Income?

Choices involving product image

A pottery company selling mugs in an espresso shop is what marketing decision?

Information about where and how a person lives and what he or she wants and needs

People with common needs, desires, and purchasing abilities

Features of a product that appeal to specific consumers

A business must have a complete customer profile in order to create a strong marketing mix.

Members of Generation Z are more tech savy.

In the US, the most rapidly increasing ethnic population is African-American.

Susan placed an ad to sell her car on Craigslist.  

The idea that businesses must satisfy customers' needs/wants in order to make a profit

A combination of geographic, demographic, and psychographic data is used to create a 

A company that wants to send catalogs to music teachers and dancers needs what type of data?

Information about where people live

Products designed to appeal to Baby Boomers reflect a concern for customers' demographics.

Separating a large group of potential customers into smaller groups based on characteristics

A combination of four strategies used to market a product

A bbq sauce that includes spices often found in Asian cuisine is segmenting its market thru