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Marketing Final 2
Intro to Marketing part 2
Question | Answer |
---|---|
What is the 1st step in segmenting/targeting markets? | form potential buyers into segments |
What is the 2nd step in segmenting/targeting markets? | form products to be sold into groups |
What is the 3rd step in segmenting/targeting markets? | develop the market power grid |
What is the 4th step in segmenting/targeting markets? | select target markets |
What is the 5th step in segmenting/targeting markets? | take marketing action to reach target markets |
What is the 1st step in the selling process? | Prospect & quality |
What is the 2nd step in the selling process? | Preapproach |
What is the 3rd step in the selling process? | Approach |
What is the 4th step in the selling process? | Make presentation |
What is the 5th step in the selling process? | Answer Objectives |
What is the 6th step in the selling process? | Close sale |
What is the 7th step in the selling process? | Follow up |
What are the positives and negatives of Market Penetration? | +:know products & market segments well -:growth limited to this segment |
What are the positives and negatives of Market Development? | +:Can gain R&D and manufacturing economies -:Need new sales training and distribution |
What are the positives and negatives of Product Development? | +:Can gain marketing economies of scale -:Need new R&D & manufacturing, can cannibalize sales |
What are the positives and negatives of Diversification? | +:Can mitigate swing in core business by products in new markets -:No economies of scale in R&D, manufacturing, or marketing |