MBA MFT Study Cards| 254 QUESTIONS| WITH COMPLETE SOLUTIONS

major segmentation variables (4) correct answer: (1) geographic, (2) demographic, (3) psychographic, (4) behavioral penetrated market correct answer: set of customers who are buying the company's product target market correct answer: qualified available market the company decides to pursue available market correct answer: set of consumers who have interest, income, and access to a particular offer potential market correct answer: set of consumer with a sufficient level of interest in a market offer corporate culture correct answer: shared experiences, stories, beliefs, & norms that characterize an organization strategic marketing plan correct answer: lays out the target market and the firm's value proposition, based on an analysis of the best market opportunities 5 stages of consumer buying process decision process correct answer: (1) need recognition, (2) information search, (3) evaluation of alternatives, (4) purchase decision, (5) post-purchase behavior 8 steps of business purchasing process correct answer: (1) identify need, (2) select specific product, (3) appoint purchase team, (4) specify technicalities, (5) budget for purchase, (6) research potential suppliers, (7) solicit bids, (8) award contracts 4 factors influencing consumer behavior correct answer: (1) cultural, (2) social, (3) personal, (4) psychological 4 factors that influence business purchasing behavior correct answer: (1) environmental, (2) organizational, (3) interpersonal, (4) individual competitive intelligence correct answer: defining, gathering, analyzing, & distributing intelligence about products, customers, competitors, and any aspects of the environment needed to support executives & managers making strategic decisions for an organization managerial decision making process steps (6) correct answer: (1) establish the objective, (2) define the problem, (3) identify possible solutions, (4) evaluate alternative courses of action, (5) implement the decision, (6) acquire feedback 8 major models of marketing communication correct answer: (1) advertising, (2) sales promotion, (3) events & experiences, (4) public relations & publicity, (5) direct marketing, (6) interactive marketing, (7) word-of-mouth marketing, (8) personal selling