chapter 12

Question 1

the whole firm is directed toward serving customers at a profit

Answer 1

marketing concept

Question 2

adding value

Answer 2

utility

Question 3

tangible products purchases by invidiuals for their use

Answer 3

industrial goods

Question 4

intangible products to serve users needs

Answer 4

services

Question 5

thoughts or philosophies

Answer 5

ideas

Question 6

legislation and government programs can be favourable or not

Answer 6

political and legal environment

Question 7

reflects the values, beliefs, and ideas of a society

Answer 7

social and cultural environment

Question 8

conditions affect spending patterns of businesss and individuals

Answer 8

economic environment

Question 9

similar products

Answer 9

brand competition

Question 10

dissimilar products that can meet the same need

Answer 10

substitute prodcuts

Question 11

marketing domestic products against a foreign product

Answer 11

international competition

Question 12

a detailed, focused strategy for gearing the marketing mix to meet consumer needs and wants

Answer 12

marketing plan

Question 13

product, price, place promotion

Answer 13

marketing mix

Question 14

offering a good, service, or idea that satisfied buyers needs

Answer 14

product

Question 15

creating a product that has a different image than existing product to attract consumers

Answer 15

product differentiation

Question 16

getting the product from producer to buyer

Answer 16

place distribution

Question 17

a group of potential customers who have similar wants and needs

Answer 17

target market

Question 18

dividing a consumer market into categories

Answer 18

segmentation

Question 19

the process of fixing, adapting, and communicating the nature of the produc itself

Answer 19

positioning

Question 20

the group of products a company has for sale

Answer 20

product mix

Question 21

a group of similar products intended for a similar group of buyers

Answer 21

product line

Question 22

product marketed globally

Answer 22

product extension

Question 23

product modified to appeal to foreign markets

Answer 23

product adaptation

Question 24

reintroduction

Answer 24

reviving old products for new markets

Question 25

use of symbols to communicate the qualities of a product made by a producer

Answer 25

branding

Question 26

added value a brand provides to a product beyond its basic functional benefits

Answer 26

brand equity

Question 27

selling the right to use the firm’s name on another companys product

Answer 27

licensed

Question 28

national, private, generic

Answer 28

brand names