TOURMAR QUIZ #2 - MIDTERM PERIOD

In concentrated marketing strategy, the business develops products for one segment of the market.

MIS involves analysis of the marketing environment in relation to the potentials of one's business

Captured markets are those consumers who have purchased the product.

Meeting needs and want lead to satisfaction

We can say that satisfied needs do not motivate as much as unsatisfied needs.

This approach was born out of a need to enhance the demands of business to promote their products

Marketing is a field of management, in much the same way that of Human Resources

In marketing we refer to needs by indicating the demand

Demand will indeed be all about selling a product.

Millennials are born between 1978-1995

Base on generation profile Boomers are born between 1946-1964.

Positioning can be done by describing the market size of market segments.

When doing market segmentation, it is not suggested that you use more than one segmentation variable

Consumer may find complex products easy to purchase

This group of users value aesthetics and like high-tech products.

Untapped market are those consumers who have purchase the product

Example of a heterogeneous market are the millennial market

Marketing is all about creating value through the exchange process.

In a homogeneous market, several market segments can be identified.

It is a group of people exhibiting similar consumption patterns or behavior

It is the next step after market segmentation

The concept of want can be clearly appreciated by referring to need theories

Financing is a core marketing function.

Core marketing function that entail gathering info about customers to better serve their needs & improve decision making

Social need covers the need for emotional and physical safety

It is defined as describing the identified market segments using relevant segmentation variable

A known marketing guru who defined marketing as "satisfying needs and wants through an exchange process"

Demand has evolved from simple trade to a production orientation and to a sales orientation.

ERG theory shows that there are different kinds of needs that motive a person to action.

A management process that involves an analysis of the marketing environment in relation to the potentials one's business

It is defined as a condition that motivates a consumer to satisfy the unmet need.

Company XXX builds customized cars for the elite segment only is a _____ marketing strategy

A theory that identify three needs - achievement, affiliation and power as the sources of motivation.

Marketing is a field of management, in much the same way that of Human Resources

We can say that satisfied needs do not motivates as much as unsatisfied needs.

Type of psychographic segmentation whereas the market stick to the basic care about their health and have limited income

Profiling is the next step after market segmentation

This approach was born out of a need to enhance the demands of business to promote their products

A targeting strategies where business develops products for one segment of the market

Traditionalist are the pleasure seekers and are interested in adventure and fun.

Everything that goes on sale is marketed.

Company Z builds customized car for the elite segment only is a sample of differentiated marketing strategy.

It is generally defined as something that is essential

It is defined as owning a distinctive characteristic for your product in a product category

Example of homogeneous market segments are Matures, Boomers and Gen Xers.

The concept of satisfaction is linked to the concepts of need, want and demand

Refers to a group of consumer who share similar needs and wants and are backed by buying power

Behavioral segmentation is another way of diving a market

Psychographic segmentation is evident across southeast asia

Marketing plays a vital role on the purchase of high involvement products.

When businesses realized that production was increasing, they began competing for recognition within the market.

It is defined as owning a distinctive characteristic for your product in a product category

Tourism product can be touched, smelled, tasted, felt nor heard prior to purchase.

It is a marketing strategy that segregates a market into smaller groups of markets with common needs and wants.

The old sense of marketing is satisfying customer needs

Distribution involves bringing the products and services to the customers in the best way possible

Clothing, shelter is a Physiological need.

It is defined as a condition wherein expectation are met.

In differentiated marketing strategy, business considers the different segments in the market.

Customer demands is at the center of marketing.