AMMS Quiz Bowl

A firm that serves small segments that the other firms in an industry overlook or ignore.

Setting prices based on competitors’ strategies, prices, costs, and market offerings.

The institutions and other forces that affect a society’s basic values, perceptions, preferences, and behaviors.

It is the section of the marketing plan that summarizes and overviews the main goals and recommendations.

An ethical value which means to balance justly the needs of the buyer with the interests of the seller.

Personal communications about a product between target buyers and neighbors, friends, family members, and associates.

A salesperson learns as much as possible about a prospective customer before making a sales call.

Temporarily pricing products below the list price, and sometimes even below cost, tonincrease short-run sales.

The systematic search for new-product ideas.

Internal capabilities that may help the company reach its objectives

The value of the entire stream of purchases that the customer would make over a lifetime of patronage.

Most companies are started by individuals who live by their wits.

A business buying situation in which the buyer purchases a product or service for the first time.

Entering foreign markets by joining with foreign companies to produce or market a product or service.

A strategic process that involves creating an identity/ image of the brand or product within the target customers’ minds

Turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives.

Products that have low appeal but may benefit consumers in the long run.

It is a type of industrial structure in which the fast growth in manufacturing results in rapid overall economic growth.

It involves changing the product to meet local conditions or wants.

A retailer that buys at less-than-regular wholesale prices and sells at less than retail

A positioning strategy w/c provides the most upscale product, charging higher price to cover the higher costs.

The items that the consumers purchase less frequently and compare with available alternatives in the market.

It is a stage in the process of adopting a new product in which the consumer seeks information about the new product.

Marketing research to gather preliminary information that will help define problems and suggest hypotheses.

Which phase of the purchaseprocess generates word ofmouth?

A sales force organization in which salespeople specialize in selling only a portion of the company’s products or lines.