MKT 3130 UTC Exam 1 Questions AND Correct Answers
baby boomers - ✔✔the generation born between 1946 and
1964
brand - ✔✔the name, term, symbol, design, or any
combination of these that identifies and differentiates a firm's
products.
competitive advantage - ✔✔the superior position a product
enjoys over competing products if consumers believe it has
more value than other products in its category
consumer confidence - ✔✔a measure of how optimistic
consumers are about the overall state of the economy and
their own personal finances
consumer ethnocentrism - ✔✔A belief by residents of a
country that it is inappropriate or immoral to purchase
foreign-made goods and services.
currency exchange rate - ✔✔the price of one country's
currency in terms of another country's currency
, customer value - ✔✔the perceived benefits, both monetary
and non-monetary, that a customer receives from a product
compared with the cost of obtaining it
demographics - ✔✔The characteristics of human populations
that can be used to identify consumer markets
direct competition - ✔✔(aka category or brand competition) a
situation in which products that perform the same function
compete against one another
direct ownership - ✔✔a method of entering an international
market in which a domestic firm actively manages a foreign
company or overseas facilities
disposable income - ✔✔the amount of spending money
available to households after paying taxes
diversification - ✔✔offering new goods and services to attract
new customers
baby boomers - ✔✔the generation born between 1946 and
1964
brand - ✔✔the name, term, symbol, design, or any
combination of these that identifies and differentiates a firm's
products.
competitive advantage - ✔✔the superior position a product
enjoys over competing products if consumers believe it has
more value than other products in its category
consumer confidence - ✔✔a measure of how optimistic
consumers are about the overall state of the economy and
their own personal finances
consumer ethnocentrism - ✔✔A belief by residents of a
country that it is inappropriate or immoral to purchase
foreign-made goods and services.
currency exchange rate - ✔✔the price of one country's
currency in terms of another country's currency
, customer value - ✔✔the perceived benefits, both monetary
and non-monetary, that a customer receives from a product
compared with the cost of obtaining it
demographics - ✔✔The characteristics of human populations
that can be used to identify consumer markets
direct competition - ✔✔(aka category or brand competition) a
situation in which products that perform the same function
compete against one another
direct ownership - ✔✔a method of entering an international
market in which a domestic firm actively manages a foreign
company or overseas facilities
disposable income - ✔✔the amount of spending money
available to households after paying taxes
diversification - ✔✔offering new goods and services to attract
new customers
