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Products that are regular, routine purchases
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A ____________________ market is a clearly identified segment of the market to which the company wants to appeal.
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Marketing Ch. 9

QuestionAnswer
Products that are regular, routine purchases Staple Goods
A ____________________ market is a clearly identified segment of the market to which the company wants to appeal. Target
A marketing ____________________ is the way marketing activities are planned and coordinated to achieve an organization’s goals. Strategy
When a variety of differences exist and the consumer considers a number of factors to determine the best value, the product is a(n) ____________________-based good. Attribute
A product ____________________ cycle identifies the stages a product goes through from the time it enters the market until it is no longer sold. Life
A marketing ____________________ is a clear written description of the marketing strategies of a business and the way the business will operate to accomplish each strategy. Plan
Shopping goods need to be available in the most convenient locations, and promotion is not an important element of the marketing mix for these items. False
It is very difficult for a business to compete when its products are almost identical to those of its competitors. True
Information in a company’s marketing information system (MkIS) is not typically used when the company develops its marketing plan. False
A product in the introduction stage of the product life cycle will need to be widely distributed since the company will want as many people as possible to be exposed to the new product. False
A positioning statement is a specific description of the unique qualities of the marketing mix that make it different from the competition and satisfying to the target market. True
The final section of the marketing plan identifies actions needed to accomplish and evaluate the marketing strategy. True
A market includes all of the consumers available for a business to serve by selling a product or service. True
It is possible for a company to select more than one segment for a target market. True
A marketing strategy begins with the company goals on which the strategy is based. True
The most important factor used to segment a market is buying behavior. False
Marketing strategies need to be based on a complete study of a market and the possible ways the business can serve the market. True
Both expensive and modestly priced items can be classified as specialty goods. True
In order to develop marketing strategies that will be successful, marketers must focus exclusively on their own products and marketing efforts. False
Most of the major purchases made by consumers are Shopping Goods
Marketing plans are developed for a specific time period, often six months to one year
The unique, memorable quality of a brand is called a(n) Image
A component of a market in which people have one or more similar characteristics is called a(n) Segment
A general promise or assurance of quality is called a(n) Guarantee
If you are trying to determine where the customer will be best able to obtain your product, which marketing mix element are you thinking about? Distribution
The description of the way marketing will be used to accomplish the company’s objectives is the Marketing Strategy
During the maturity stage of the product life cycle, sales peak and profits begin to decline.
Life Insurance is an example of a(n) unsought good
Candy bars at the front of the store are examples of impulse goods
When your car breaks down you have to purchase a(n) emergency good
Created by: aforester
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