MIE 201- Exam 4 Questions & Answers 100% Correct(Rated A+)

Customer benefits subtracted by customer costs=____________________ - ANSWERSValue American Girl Manufactures dolls for young girls between the ages 3 to 12. This specific group of consumers is the company's __________________ market. - ANSWERSTarget Which of the following terms accurately describe primary data? A. Compiled by the Census Bureau B. Compiled Externally C. Collected Directly D. Observed Directly - ANSWERSC D True or False: Secondary data are always compiled outside of an organization - ANSWERSFalse If you open a pizza restaurant and assume that all potential customers have similar needs and wants, you are using a _______________-__________________ approach to define your target marget. - ANSWERStotal market Dividing the market into groups whose members have similar characteristics is_____________ _____________________ (2 words) - ANSWERSMarket Segmentation A company has a product that is geared toward 18-21 year-old women, who are all college students. This group would be considered a(n) _______________ segment. - ANSWERSMarket A manufacturer of educational toys for children ages 2 to 4 wants to develop a marketing strategy to focus on just this segment. Which market segmentation approach would the firm most likely use? (2 words) - ANSWERSConcentration approach When a UPS store targets consumers for shipping products around the holidays, but targets businesses for everyday shipping needs, it is using a(n) _________________ approach. - ANSWERSmultisegment Segmenting facial products by sex, age, and race is an example of __________________ segmentation. - ANSWERSDemographic Dividing a market by cities, counties, states, or regions is an example of using _________________ segmentation. - ANSWERSGeographic Dividing the market using a group's personality characteristics, motives, and lifestyles is_______________ segmentation. - ANSWERSPsychographic Many customers value "green" due to their positive environmental traits and the savings from better gas mileage. The marketing mix factor that accounts for these tangible and intangibles attributes is___________________. - ANSWERSProduct ______________ is making products available to customers in the quantities desired. - ANSWERSDistribution Which of the following is least likely to be part of promotion? A. Advertising B. Pricing C. Publicity D. Personal Selling - ANSWERSB Whic