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Mrkt: Topic 2: Marketing Mix Flashcards | StudBud
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Mrkt: Topic 2: Marketing Mix
Mrkt: Topic 2: Marketing Mix
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Principles of Marketing Topic 2: Marketing Mix
Flashcards
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Questions
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Answers
1
evaluating each market segment's attractiveness and selecting one or more segments to enter
market targeting
market segmentation
understanding marketing environment
differentiation and positioning
2
a unique blend of the 4Ps
marketing strategies
office policies
marketing concepts
marketing mix
3
It is the heart and the starting point of marketing mix.
product strategy
product positioning
product offering
product research
4
arranging for a product to occupy a clear, distinctive, & desirable place against competing products in customers' minds
positioning
promoting
product position
questioning
5
advertising, personal selling, sales, promotion, public relations
price
promotion
place
product
6
the perception of what a product or service is worth to a Customer versus the possible alternatives.
share of customer
customer value
customer satisfaction
customer perceived value
7
list price, discounts, allowances, payment period, credit terms
promotion
price
place
product
8
it consists of tactical marketing tools blended into an integrated program that engages target customers
marketing mix
marketing program
marketing plan
marketing strategy
9
It should offer customer value
place
price
product
promotion
10
In market differentiation and positioning, a company must now determine how to _______ and _______.
differentiate its market offering for each market segment
create value from customers
establish profitable customer relationship
what positions it wants to occupy in those segments
11
it is the process of dividing a market into distinct group of buyers
market segmentation
market targeting
understanding marketing environment
differentiation and positioning
12
What does the Y represent?
intended positioning
positioning
market targeting
market differentiation
13
it is designed to produce mutually satisfying exchanges with a target market.
customer satisfaction surveys
marketing mix
demographic factors
business plan
14
a market can be segmented based on what?
who might require separate products or marketing programs
different needs, characteristics, or behaviors
who has the most capacity to spend
who are the most possible to be loyal
15
channel, coverage, locations, inventory, transportation, logistics
place
product
price
promotion
16
What are the demographic factors that are particularly important for pricing decision?
economic length of potential buyers
values and norms of consumers' milieu
mental and emotional stability of buyers
expected consumption rates of potential buyers
17
essential benefits the buyer expects to recieve from the product
tangible product
extended product
generic product
18
In order to chose a segment of customers to serve, companies must _______ and _______.
review the business plan
divide the total market
conduct a market research
choose the best segments and design strategies
19
physical product or service
generic product
tangible product
extended product
20
it is an important competitive weapon and is very important to the organization
place
promotion
price
product
21
What are the processes in dividing the total market and choosing the best segments and designing strategies?
understanding marketing environment
market targeting
market segmentation
differentiation and positioning
22
it is what the buyer needs to give up to obtain a product
promotion
place
price
product
23
a company should target segments in which it can ______ and _______.
create value
profitable customer relationship
profitably generate the greatest customer value
sustain it over time
24
tangible product with the whole cluster of service that accompany the product
generic product
tangible product
extended product
25
What are the demographic factors that are particularly important for pricing decisions?
position of potential buyers (organizational buyers/ final buyers
economic capacity of buyers
location of potential buyers
number of potential buyers; and their age, education, and gender
26
What does the X represent?
product strategies
marketplace
markets
target customers
27
three primary considerations in price strategies
economic factors
demographic factors
psychological factors
price elasticity
28
it is often the most flexible of the marketing mix
promotion
place
product
price
29
variety, quality, design, features, brand name, packaging, services
product
promotion
price
place
30
the place a product occupies relative to competitors' products in consumers' minds
a product's reputation
a product's position
the customers' perceived value
the company's image
31
these factors help determine marketing potential and are useful for estimating expected sales at various price levels
economic factors
societal factors
demographic factors
philanthropic factors
