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SEM Chapter 4

QuestionAnswer
focused on satisfying customer needs marketing concept
the value that people believe they receive from a product or service benefits derived
a specified group of customers that a company wants to reach target market
the difference between what customers expect and the services they receive from a business customer service gap
the capability to produce products or services more efficiently and economically than the competition comparative advantage
the point at which all of the expenses for producing a product are covered breakeven point
includes five major human areas of need Maslow's Hierarchy of Needs Pyramid
purchases that are based upon loyalty to a particular brand or product patronage purchases
is based upon age, income, education, and other distinguishing characteristics of a particular market segment. demographic segmentation
the percentage of total sales of a product or service that a company expects to capture in relation to its competitors market share
the rate at which companies produce goods or services in relation to the amount of materials and number of employees utilized productivity
purchases that are made with little thought during emotional highs or lows emotional purchases
divides markets into physical locations, such as Eastern, Northern, Southern, and Western regions of the United States geographic segmentation
realization of one's self potential self-actualization
purchases that are based upon careful thought and sound reasoning rational purchases
sometimes hired by companies to determine how well they are performing customer service mystery guests
Created by: lbauer
Popular Marketing sets

 

 



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