Peregrine - Marketing - Section Reviews Exam Questions And Answers (Updated And Verified)

Peregrine - Marketing - Section Reviews Exam Questions And Answers (Updated And Verified) ________ is defined as "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. " - answerMarketing The 5 C's - answerCustomer Company Context Collaborators Competitors STP - answerSegmentation Targeting Position The 4 P's - answerProduct Price Place Promotion Match the factors that influence customer behaviors to their examples. A. Situational B. Internal C. External opinion leaders, family, culture, social class, reference groups attitudes, motivations, learning, perceptions, lifestyle physical environment, purpose of purchase, time constraints - answerA. Situational: physical environment, purpose of purchase, time constraints B. Internal: attitudes, motivations, learning, perceptions, lifestyle C. External: opinion leaders, family, culture, social class, reference groups Match the stage of the product life cycle to the action that occurs during that stage. A. Introduction B. Decline C. Maturity D. Growth An organization attempts to establish itself as a pioneer/market leader. Sales/revenues & profit margins rise as consumers buy the product & competition increases. Revenue peaks, but profit margins erode due to high competition. Many competitors & remaining firms serve the smaller customer base. - answerA. Introduction: An organization attempts to establish itself as a pioneer/market leader. D. Growth: Sales/revenues & profit margins rise as consumers buy the product & competition increases. C. Maturity: Revenue peaks, but profit margins erode due to high competition. B. Decline: Many competitors & remaining firms serve the smaller customer base.