Chapters 13,14,and 15 intro to business

An example of demographic segmentation
An automobile manufacturer offers different types of cars designed to appeal to different age groups and income levels
A campaign manager for the senate tries to learn as much as possible about voters in return he uses the info on what is most important to voters this represents
The use of marketing by a nonprofit organization
Evaluating various distribution alternatives to determine the best way to get the product to the consumer
Would be included in the marketing mix
Statement most accurate in today’s views of marketing
“Learn about your customers and exceed their expectations”
Production era
Time period from our countries first settlers through the early 1900’s
Marketing managers primary responsibilities are
Planning and executing the conception, pricing , promotion and distribution of the firms products
Most accurate statement about marketing
Marketers recognize the need to learn as much as possible about consumers and do everything possible to satisfy them
First step in marketing research process
Define the problem and determine the present situation
Two major types of markets
Consumer and the business to business
A combination of _____ refers to a firms marketing mix
Strategies regarding product price place and promotion
Would be considered part of a firms marketing mix
Determining the best pricing strategy for a product
Refers to the process of dividing the total market into several groups with similar characteristics
Segmentation
Infomercials provide the opportunity for
The product to sell itself
In evaluating colleges students and parents are likely to judge a school
By the collection of benefits offered
A word letter or group of words or letters that differentiate the goods and services of a seller from those of competitors
Brand name
Firms with a limited budget would be least likely to us
Television advertising
Any paid no personal communication through various media organizations and individuals who are in some way identified in the message
Advertising
Combination of all the factors that consumers evaluate when deciding whether or not to buy a good or service
Total product offer
Location is important because consumers desire to purchase these goods with a minimum of shopping effort
Convenience goods
Successful marketers recognize that through each stage of the product life cycle each one requires
A different marketing strategy
What is the break even analysis
Process used to determine profitability at various levels of sales
An example and explanation of the break even point and the formula
The break even point is the point where revenues from sales equal all costs
Fixed costs divided by the unit price minus the variable cost
Strategy of first determining what the market is willing to pay and then subtracting a desired profit margin to determine a desired cost of production
Target costing
When a product is increasing but the rate has slowed and sales are still expected to peak that is what stage of the product life cycle
Maturity
Marketers often rely on ____ in their competitive strategy to enhance a relatively homogenous product
Non price differences
Green giant , Coca Cola , etc are all
Manufacturer brands
Stage of a product life cycle characterized by rapidly rising sales high profit levels and growing number of competitors is
Growth
Packaging is
Assuming an increasingly important role in the promotion of products
Look at questions
17 14 12 10 7 in quiz 14
Look at questions
1 10 14 in quiz 16
Look at questions
1 3 12 13 in quiz 13