MIE 201 Exam 4 NCSU Questions With
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marketing a group of activities designed to expedite transactions, by creating, distributing,
pricing, and promoting goods, services, and ideas
exchange act of giving up one thing in return for something else
functions of marketing buying, selling, transporting, storing, grading, financing,
marketing research, risk taking
time utility ability to satisfy demand in a timely manner
grading standardizing products by dividing them into subgroups and displaying and
labeling them so that consumers clearly understand their nature and quality
value a customers' subjective assessment of benefits relative to costs in determining the
worth of a product
, MIE 201 Exam 4 NCSU Questions With
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marketing concept the idea that an organization should try to satisfy customers' needs
through coordinated activities that also allow it to achieve its ow goals
production orientation second half of 19th century where new management ideas, lots of
efficiency, and a strong demand for manufactured goods sprouted
market orientation 1950s when suppliers realized they must know what customers want
before they produce anything
sales orientation first half of 20th century where supply surpassed demand so suppliers
had to sell products.
market a group of people who have a need, purchasing power, and desire and authority to
spend money on goods, services, and ideas
target market a more specific group of consumers on whose needs and wants a company
focuses its marketing efforts
, MIE 201 Exam 4 NCSU Questions With
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business to business marketing marketing products to customers who will use the product
for resale, direct use in daily operations, or direct use in making other products
business to consumer marketing marketing directly to the end consumer
total market approach firms tries to appeal to everyone and assume that all buyers have
similar needs and wants
market segmentation dividing the total market into groups of people
market segment a collection of individuals, groups, or organizations who share one or
more characteristics and thus have relatively similar product needs and desires
concentration approach when a company develops one marketing strategy for a single
market segment
multisegment approach marketer aims its marketing efforts at two or more segments
developing a marketing strategy for each
, MIE 201 Exam 4 NCSU Questions With
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niche marketing a narrow market segment focus when efforts are on one small, well
defined group that has a unique, specific set of needs
variables of market segmentation demographic, geographic, psychographic, behavioristic
demographic age, sex, race, ethnicity, income, education, occupation, family, seize,
religion ,social class.
geographic climate, terrain, natural resources, population density, subcultural values
psychographic personality characteristics, motives, lifestyles
behavioristic some characteristic of the consumer's behavior. toward the product
marketing mix product, price, distribution, and promotion. firm control these to achieve
specific goals within a dynamic marketing environment.
