Niche markets Study guides, Revision notes & Summaries

Goal of Customer- Driven marketing strategy - to create VALUE for targeted customers Market Segmentation - 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 - - "Who is our customer?" -Selecting customers to serve using segmentation and targeting -We cannot make any other decisions as...

To create a competitive edge companies need to focus on ________________ correct answers customers' evolving wants and needs Porter's three generic strategies: correct answers 1. Overall Cost Leadership 2. Differentiation 3. Focus Differentiation is perceived from the____________ correct answers client/customer Differentiated goods are the opposite of__________ correct answers luxury goods Luxury goods are only for__________. Differentiated goods are marketed to ____________ corr...

A company that engages in global marketing focuses resources on? correct answers The global market opportunities and threats. marketing mix correct answers price, product, promotion, place what is used to create global marketing programs? correct answers The marketing Mix (4 P's) Marketing, R&D, manufacturing, and other activities comprise a firms...? correct answers value chain the various activities that a company performs in order to create value for customers. correct answers va...

Test Bank For Entrepreneurship: The Practice and Mindset 1st Edition by Heidi M. Neck Christopher P. Neck ,Emma L. Murray Chapter 1: Entrepreneurship: A Global Social MovementTest Bank Multiple Choice 1. The authors define entrepreneurship as . a. a discipline that seeks to understand how opportunities are discovered, created, and exploited, by whom, and with what consequences b. starting a small business by finding investors and launching a product c. developing a new market by crea...

Sales Management Exam 1 - Questions and Answers A ___________ environment affords the opportunity to combine large amounts of information and then use __________ techniques to learn more about current and potential customers. (A) One-to-one; strategic partnerships (B) Customer loyalty; delivery (C) Data warehouse; data mining (D) Just-in-time data; efficient customer response (ECR) (E) Preferred supplier; total quality management (TQM) Which of the following is NOT a part of the process cycle ...

Test Bank for Marketing Management 15th Edition by Keller & Kotler Complete All Chapters (Revised Version). Marketing Management, 15e (Kotler) Chapter 2 Developing Marketing Strategies and Plans B) strategic marketing plan C) corporate tactical plan D) corporate 1) The task of any business is to ________. A) create customer needs B) differentiate in terms of cost of production C) deliver customer value at a profit D) reduce competition E) communicate similar value as provided by competi...

CFRE - Terms key activities in fundraising - correct answer research, marketing, relationships, ethics & accountability Rosso's Concentric Circles - outer circle - correct answer People with similar interests Rosso's Concentric Circles - at the core - who are these primary stakeholders? - correct answer Major Donors, Board, Management Staff (these people have the responsibility to bring those in the outer circles closer) Rosso's Concentric Circles - second to outer circle - correct ...

FIN2603 Exam Study Notes. Latest Document. The Financial goal of a firm. 1. Introduction. • Firms exist because they satisfy a need by providing a product or service. • Firms do not only meet the need for consumers but also the needs of other firms. • The emphasis on customers needs and on providing a quality product/service to meet the needs of customers is normally stated in the firms mission statement. • Mission statement - describes the fundamental purpose that sets a firm ap...

ARE 136 CH 6 | 92 Questions and Answers with Correct Answers 2024. 1. When a brand team defines the target market of consumers for their product, they may also identify many smaller subsets of consumers within their broad market. a. True b. False - a. True 2. In the world of advertising, markets are positioned, but products are segmented. a. True b. False - b. False 3. STP marketing includes three factors—identifying, positioning, and informing. a. True b. False - b. False 4. If Gen...

Industry conditions Competitive pressures Market standing vis-à-vis rivals Competitive strengths and weaknesses What is the firm's present situation? New buyer needs to satisfy •Growth opportunities to pursue •Markets to deemphasize or abandon •How to measure success What direction to head and what performance targets to set? Strategy for competing successfully How to attract customers Deciding what market position to stake out Actions to achieve performance targ...