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SEM Chapter 2 Flashcards | StudBud
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SEM Chapter 2
SEM Chapter 2
30 terms
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Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
A business that keeps the focus on satisfying customer needs is
marketing concept
breakeven point
opportunity cost
productivity
2
_______ focus on characteristics that cannot be measured physically, such as values or interest
geographic segmentation
demographic segmentation
behavioral-based segmentation
Psychographics
3
The minimum sales required to cover all of the expenses of organizing/promotion/running the eve
productivity
marketing concept
breakeven point
opportunity cost
4
capability to produce products/services more efficiently/economically than the competition
patronage purchases
rational purchases
comparative advantage
emotional purchases
5
Explaining to customers that their problem is outside of your department is
keeping promises
providing top value
not a part of a value-based culture
going beyond expectations
6
the value of the next best alt when making a choice.
opportunity cost
emotional purchases
rational purchases
economic market
7
When you and your friends decide to go to the concert instead of the game. What is that?
lost purchase
economic value
opportunity cost
rational purchase
8
The value people believe they receive from a product/service
comparative advanatge
benefits derived
patronage purchases
emotional purchases
9
Rational Purchases
is a group of producers
are bases on consumer loyalty
when individuals recognize needs/wants
is a group of consumers
10
Research is conducted to determine who is spending ____ and how much on different products.
money
the day
the night
time
11
What are demographics?
different parts of the country where market segments live
refer to the frequency of use of a product
categorize market segment by age,gender,race,income and edu.
interests, values and emotional purchases
12
What has made impressive strides in the US as well as in many other developing countries?
marketing concept
opportunity cost
breakeven point
Productivity
13
Buying a $30 t-shirt of your favorite team that wins the championship is an example of..
rational purchase
unsought purchase
patronage purchase
emotional purchase
14
Who is a specific group of consumers a business wants to meet
market share
market segment
target market
mass marketing
15
Patronage purchases
producer
are based on consumer loyalty
are wants
are needs
16
Disadvantages involve the risk of using one marketing mix
treu
true
no
false
17
What includes all of the consumers who will purchase a product or service?
economic market
emotional purchases
market share
market segment
18
Customer service gap is
anyone working in the customer service being proud
employees hired
difference of customer expectations and the service received
passion results in energy
19
A ___ on these concepts gives sale associates a target
tenacity
all of the above
focus
action
20
Values bases culture
communication values through high performance and service
passion results in energy
value of long term positive relationships
follow FAST
21
Mass marketing is
divides markets into physical locations.
info that can be measured such as age and gender.
focuses on attitudes toward products/services.
an attempt to appeal a large group of consumers.
22
All of the following are examples of "customer service gaps" except
following up with a customer
informing a customer that a question is outside of your dep
placing a customer on hold
chatting on the phone while customers are waiting
23
What is a market segment?
consumers in a large market that share characteristics
an attempt to appeal larger groups
a percentage of total sales of a product
differences between expectations
24
The bottom line for maintaining successful marketing relationships is
increased market share
customer satisfaction
product quality
profit
25
____ divides markets into physical locations
Behavioral-based segmentation
Psychographics
Market share
Geographic segmentation
26
The first step in marketing a product is to determine who specifically "___" is for the product
the dog
the customer
all of the above
the salesman
27
An example of a specific market segment is
all women worldwide
females between ages 14 and 18
none of the above
the entire population of a country where the business is
28
Marketing strategies
all of the above
satisfy experiences are less likely to take their business
monitor the competition and consumer trends and improvements
the marketplace results in more options for consumers
29
Emotional purchases are when you spend money with little thought due to emotional high/lows
no
treu
true
false
30
Behavioral-based segmentation
all of the above
cannot be measured such as values or interest
is the % of total sales
focuses on a customers attitude towards prods/services
