L2

Question 1

dividing the market into segments of customers

Answer 1

MARKET SEGMENTATION

Question 2

and selecting which segments it will go after

Answer 2

TARGET MARKETING

Question 3

this differentiate one brand from anothe

Answer 3

VALUE PROPOSITION

Question 4

They answer the customer’s question: “Why should I buy your brand rather than a competitor’s?”

Answer 4

VALUE PROPOSITION

Question 5

Marketing management wants to design strategies that will engage target customers and build profitable relationships with them.

Answer 5

Marketing Management Philosophies

Question 6

holds that consumers will favor products that are available and highly affordable

Answer 6

Production Concept

Question 7

product concept holds that consumers will favor products that offer the most in quality, performance, and innovative features.

Answer 7

Product Concept

Question 8

Many companies follow the selling concept, which holds that consumers will not buy enough of the company’s products unless it undertakes a large-scale selling and promotion effor

Answer 8

SELLING CONCEPT

Question 9

holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.

Answer 9

MARKETING CONCEPT

Question 10

companies research customers deeply to learn about their desires, gather new product ideas, and test product improvements.

Answer 10

CUSTOMER DRIVEN

Question 11

concept questions whether the pure marketing concept overlooks possible conflicts between consumer short-run wants and consumer long-run welfare.

Answer 11

Societal Marketing Concept

Question 12

Three Considerations Underlying the Societal Marketing Concept

Answer 12

1. Society (Human Welfare)
2. Consumers (Want satisfaction)3. Company
   (Profits)