Buad 332 exam 2 - Study guides, Class notes & Summaries

BUAD 332 EXAM 1 TEST BANK QUESTIONS WITH ALL CORRECT ANSWERS what is a macro environment? - Answer-- Larger societal forces that affect the microenvironment - to understand the changing market opportunities Who are actors in the microenvironment? - Answer-the company, suppliers, marketing intermediaries, customers, competitors, and publics who are market intermediaries? - Answer-help the company to promote, sell, and distribute its goods to final buyers What are the 5 types of market...

consumer buying behavior - ️️the buying behavior of people who buy goods and services for personal use. these people create the consumer market How do consumers respond to various marketing efforts the company might use? - ️️central question for marketers Simple Model of Consumer Buying Behavior (3 categories) - ️️1. Marketing and other stimuli 2. Buyer's black box 3. Buyer's response Simple Model of Consumer Buying Behavior (marketing & other stimuli) - ️️Market-pro...

BUAD 332 EXAM TRAINING COURSES QUESTIONS WITH ALL CORRECT ANSWERS (GRADED A) What is marketing research? - Answer-the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization What are three different types of research? - Answer-exploratory, descriptive, causal What must secondary data be? - Answer-Accurate, current an impartial What must primary data be? - Answer-Relevant, accurate, current and unbiased What is...

Goal of Customer- Driven marketing strategy - Answer to create VALUE for targeted customers Market Segmentation - Answer Dividing a market into smaller groups with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. (taking heterogeneous customers and dividing them into more homogeneous groups) selecting customers to serve - Answer - "Who is our customer?" -Selecting customers to serve using segmentation and targeting -We cannot make ...

Consumer buying behavior - Answer the buying behavior of people who buy goods and services for personal use. these people create the consumer market How do consumers respond to various marketing efforts the company might use? - Answer central question for marketers Simple Model of Consumer Buying Behavior (3 categories) - Answer 1. Marketing and other stimuli 2. Buyer's black box 3. Buyer's response Simple Model of Consumer Buying Behavior (marketing & other stimuli) - Answer Market-p...

1. New product ideas come from ____. a. internal sources, using company R&D b. external sources, listening to distributors and suppliers c. external sources, watching and listening to customers d. Both A and C e. All of the above are source of new product ideas - Answer e. All of the above are source of new product ideas. Frequent purchases, little planning, low customer involvement, low prices, widespread distribution, and convenient locations are characteristics of ____. a. shopping p...

Chapter 5: Understanding Consumer and Business Buyer Behavior - Answer Chapter 5 consumer buying behavior - Answer The buying behavior of people who buy goods and services for personal use (these people make up the consumer market) How are consumers stimulated? - Answer Marketing: Price, product, place, promotion Environment: economic, technological, social, cultural How do consumers respond? - Answer With attitudes, preferences, relationships and behaving (buying stuff) Culture - Answer ...