M1S1: Role Of IMC In The Marketing Process 1

Question 1

The planning framework
for specific marketing activities. Guides the allocation
of its resources. Revolves around the overall
corporate strategy, serves as a guide for specific
marketing programs and policies.

Answer 1

Strategic Marketing Plan

Question 2

Areas where a company
believes there are favorable demand trends, needs,
and/or wants that are not being satisfied, and where it
can compete effectively.

Answer 2

Market Opportunities

Question 3

Something unique or
special that a firm does or possesses that provides an
advantage over its competitors. Something special a
firm does or has that gives it an edge over
competitors. (Can also be advertising)

Answer 3

Competitive Advantage

Question 4

The process of identifying the
specific needs of segments, selecting one or more of
these segments as a target, and developing
marketing programs directed to each.

Answer 4

Target Marketing

Question 5

specific needs, selects 1 or
more of the segments and develops marketing
programs directed to each. Understand as much as
possible about consumers

Answer 5

Identifying Markets:

Question 6

identify a broad class of
buyers who have the same needs and will respond
similarly.

Answer 6

Market Segmentation

Question 7

The process of dividing a
market into distinct groups that have common needs
and will respond similarly to a marketing action.

Answer 7

Market Segmentation

Question 8

A method of segmenting a
market on the basis of different geographic units or
areas. (nations, states, counties, streets)

Answer 8

Geographic Segments

Question 9

A method of
segmenting a market based on the demographic
characteristics of consumers. (age, sex, family size,
education, income, social class)

Answer 9

Demographic Segmentation:

Question 10

Dividing the product
on the basis of personality and/or lifestyles.

Answer 10

Psychographic Segmentation:

Question 11

A method of
segmenting a market by dividing customers into
groups based on their usage, loyalties, or buying
responses to a product or service.

Answer 11

Behavioristic Segmentation

Question 12

A method of segmenting
markets on the basis of the major benefits consumers
seek in a product or service.

Answer 12

Benefit Segmentation

Question 13

The principle that 80 percent of sales
volume for a product or service is generated by 20
percent of the customers.

Answer 13

80-20 Rule

Question 14

BASES FOR SEGMENTATION

Answer 14

● Geographic Segments
● Demographic Segmentation
● Psychographic Segmentation
● Behavioristic Segmentation
● Benefit Segmentation