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Refers to the buying behavior of people who buy goods and services for personal use. - Answer- Customer Buying Behavior __________ is the most basic cause of a persons wants and behavior. - Answer- Culture Groups of people with shared value systems based on common life experiences - Answer- Su...

In BCG approach, ________ are high-share, high-growth businesses or products. They need heavy investment to finance rapid growth and fend off competition. When their growth slows down, they often turn into ___________ . A) Dogs; cash cows B) Question marks; dogs C) Stars; Cash cows D) Cash c...

A "state of deprivation" is the definition of a: A. Want B. Value C. Need D. Demand E. Exchange - Answer- C. Need George has come into some money. He now has the financial resources to purchase a new set of skis he's been dreaming about. For George, those skis have suddenly gone from be...

Kola, a leading soft drink manufacturer, has recently forayed into the Middle East markets. Based on its research that Middle East consumers prefer sweeter drinks, it is manufacturing soft drinks with extra sugar to meet local requirements. Kola is using the___ strategy to market its product A. com...

The world is shrinking rapidly with the advent of faster (BLANK), (BLANK), and (BLANK). - Answer- communications transportation financial flows International trade is (BLANK) and makes up (BLANK) of the U.S. GDP. - Answer- booming 25% Global competition is (BLANK). - Answer- intensifying ...

What is included in a broad definition of marketing? - Answer- Creating customer value, building customer relationships, and engaging customers The first step of the marketing process is to - Answer- understand the marketplace, which includes customer needs and wants. Marketing is the process ...

what is a narrow definition for price? - Answer- price is the *amount of money* charged for a product or service what is a more broad definition for price? aka price = ________. - Answer- price is the *sum* of all the *values that consumers exchange* for the *benefits of having or using the produ...

Narrowly, what is a price? - Answer- Narrowly, price is the amount of money charged for a product or service Broadly, what is a price? - Answer- Broadly, price is the sum of all values that consumers exchange for the benefits of having or using the product or service Price is not just mone...

definition: Connecting directly with carefully targeted individual customers to both obtain immediate response and cultivate lasting customer relationships - Answer- Direct Marketing What is the fastest growing form of marketing? - Answer- Direct marketing -10% of U.S. economy is generated by ...

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 c...

What is direct marketing? - Answer- connecting directly with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships what are some forms of direct marketing? - Answer- - face-to-face selling (special type of direct marketing) - di...