Chapter 4- Markets And Firms

Question 1

Viral marketing

Answer 1

Encourages the spread of information and opinions about a product or service from person to person

Question 2

eCommerce

Answer 2

Is an umbrella for any online selling

Question 3

Micro marketing

Answer 3

Is a customised marketing strategy in which advertising efforts are focused on a small well defined group of consumers

Question 4

Market segments

Answer 4

part of a market that contains groups of buyers with similar buying habits

Question 5

how to segment the market

Answer 5

age
social class
gender
lifestyle
geodemographic
socio-economic group
niche or mass

Question 6

demographic segmentation

Answer 6

age
occupation
family size
income

Question 7

goegraphic segmentation

Answer 7

town
county
climate

Question 8

psychographic segmentation

Answer 8

lifestyles

personalities

Question 9

behavioural segmentation

Answer 9

attitude

responses

Question 10

market orientated compay is

Answer 10

one that organises activities around the wants and needs of the customer

Question 11

product orientate firm

Answer 11

primary focus is the product

Question 12

tools of market orientation

Answer 12

market research
market testing
customer focus

Question 13

tools of product orientation

Answer 13

product research
product testing
product focus