Midterm 2

Question 1

Demographic

Answer 1

Age gender family size and life cycle, race, occupation, income

Question 2

Psychographic

Answer 2

Lifestyle, personality, attitudes, values

Question 3

Behavioral

Answer 3

Usage situations, benefits

Question 4

Market Segementation

Answer 4

The process of grouping customers into relatively homogeneous sets or groups such that customers within a segment are similar to one another in the way they respond to the marketing effort directed toward them.

WHO COULD WE EXCHANGE WITH

Question 5

Target Marketing

Answer 5

Selecting a segment

WHO SHOULD WE EXCHANGE WITH

Question 6

Market Positioning

Answer 6

The act of designing the company’s product offering so that it occupies a distinct and valued place in the target customer’s minds

Question 7

Brand Awareness

Answer 7

Customers know about the brand

“yes I know what Apple is”

Question 8

Brand Image

Answer 8

Consumers have a definite impressionable the the brand.

“I like Apple”

Question 9

Brand Loyalty

Answer 9

Consumers purchase only their favorite brand

“I only buy the iPhone”

Question 10

Brand Equity

Answer 10

Brand Loyalty is transferred to new products.

“All my electronics are Apple”

Question 11

Geographic

Answer 11

Region,city or metro size, density, climate

Question 12

Reliability

Answer 12

the ability to perform the promised service dependably and accurately. Delivering and performing the right service the first time demonstrates reliability.

Question 13

Assurance

Answer 13

includes competence, courtesy, credibility, and security. Treating customers with respect, providing knowledgeable information and assistance, and creating a relationship of trust with customers demonstrate assurance.

Question 14

Tangibles

Answer 14

include appearance of physical facilities, equipment, and personnel. Cleanliness, design, and decor of the premises, appearance of the staff, and appropriate equipment demonstrate tangibles.

Question 15

Empathy

Answer 15

includes access, communication, and understanding. Listening to customers and seeking to understand customer needs demonstrate empathy.

Question 16

Responsiveness

Answer 16

helping customers promptly. Returning phone calls quickly, replying to emails promptly, keeping customers informed, and delivering the service on time demonstrate responsiveness.

Question 17

Advertising

Answer 17

Paid placement of announcements and persuasive messages to inform, gain liking/interest, and/or stimulate action

Question 18

Sales Promotion

Answer 18

Short-term incentives to encourage trial or increase purchase (Ex. Coupons, Rebates, Samples, Contests, Premiums, Price packs)

Question 19

Personal Selling

Answer 19

Two-way communication between a buyer and seller designed to influence a purchase decision

Question 20

Public Relations

Answer 20

Placement of news or media presentations with the deliberate attempt to manage the public’s perception

Question 21

Direct Marketing

Answer 21

Promotional element that uses direct communication with consumers to generate a response in the form of an order, request for information, or visit to a retail outlet or website. (Ex. Direct Mail, Telemarketing)

Question 22

Intensive

Answer 22

selling through as many retailers as possible Convenience goods like packaged candy or soda pop are generally good candidates for intensive distribution.

Question 23

Selective Distribution

Answer 23

selling through a limited number of qualified retailers. Shopping and specialty goods like Stainmaster carpets, home appliances, and perfumes use selective distribution.

Question 24

Exclusive distribution

Answer 24

selling through only a few retailers. Ferrari, Aston Martin, and Lamborghini, Tiffany & Company, and Bulgari are good examples.