BUS TEST 3 (CHAPTERS 13-16) UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Question:
1. Benefit segmentation
Answer:
Dividing the market by determining which benefits of the product to talk about.
Question:
2. Brand name
Answer:
A word, letter, or group of words or letters that differentiates one seller's goods
and services from those of competitors.
Question:
3. Business to-business (B2B) market
Answer:
All the individuals and organizations that want goods and services to use in
producing other goods and services or to sell, rent, or supply goods to others.
Question:
4. Consumer market
Answer:
All the individuals or households that want goods and services for personal
consumption or use.
Question:
5. Customer relationship management (CRM)
Answer:
The process of learning as much as possible about customers and doing
everything you can over time to satisfy them or even exceed their expectations
with goods and services.
Question:
6. Demographic segmentation
Answer:
Dividing the market by age, income, and education level.
, Question:
7. Environmental scanning
Answer:
The process of identifying the factors that can affect marketing success.
Question:
8. Focus group
Answer:
A small group of people who meet under the direction of a discussion leader to
communicate their opinions about an organization, its products, or other given
issues.
Question:
9. Geographic segmentation
Answer:
Dividing the market by cities, counties, states or regions.
Question:
10. Marketing
Answer:
The activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large.
Question:
11. Marketing concept
Answer:
A three-part business philosophy: (1) a customer orientation, (2) a service
orientation, and (3) a profit orientation.
Question:
12. Marketing mix
Answer:
The ingredients that go into a marketing program: product, price, place, and
promotion.
Question:
13. Marketing research
Answer:
The analysis of markets to determine opportunities and challenges, and to find
the information needed to make good decisions.
QUESTIONS AND CORRECT ANSWERS
Question:
1. Benefit segmentation
Answer:
Dividing the market by determining which benefits of the product to talk about.
Question:
2. Brand name
Answer:
A word, letter, or group of words or letters that differentiates one seller's goods
and services from those of competitors.
Question:
3. Business to-business (B2B) market
Answer:
All the individuals and organizations that want goods and services to use in
producing other goods and services or to sell, rent, or supply goods to others.
Question:
4. Consumer market
Answer:
All the individuals or households that want goods and services for personal
consumption or use.
Question:
5. Customer relationship management (CRM)
Answer:
The process of learning as much as possible about customers and doing
everything you can over time to satisfy them or even exceed their expectations
with goods and services.
Question:
6. Demographic segmentation
Answer:
Dividing the market by age, income, and education level.
, Question:
7. Environmental scanning
Answer:
The process of identifying the factors that can affect marketing success.
Question:
8. Focus group
Answer:
A small group of people who meet under the direction of a discussion leader to
communicate their opinions about an organization, its products, or other given
issues.
Question:
9. Geographic segmentation
Answer:
Dividing the market by cities, counties, states or regions.
Question:
10. Marketing
Answer:
The activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large.
Question:
11. Marketing concept
Answer:
A three-part business philosophy: (1) a customer orientation, (2) a service
orientation, and (3) a profit orientation.
Question:
12. Marketing mix
Answer:
The ingredients that go into a marketing program: product, price, place, and
promotion.
Question:
13. Marketing research
Answer:
The analysis of markets to determine opportunities and challenges, and to find
the information needed to make good decisions.
