Save
Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't know (0)
Remaining cards (0)
Know (0)
0:00
share
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Busn 201 - Chap 15

Undertanding Market Processes and Consumer Behaviour

QuestionAnswer
What are the four principles of marketing? Product, Price, Promotion and Place.
Which of the following are variables considered when segmenting a market? Product use variables, geographic, psycho-graphic, demographic.
________ choices determine basic design of the product offered to consumers. Product.
The buying process begins when the customer: Identifies a need.
Assume that you went to a shopping mall to determine people's attitudes toward a new peanut butter and pickle flavour ice cream. You would be collecting ________ data. Primary.
When is market research used most frequently? When a new or altered product is being considered.
The information that Statistics Canada provides on the Canadian economy is an example of: Secondary data
The Delivery Company has an extensive distribution network in Canada. They buy products directly from manufacturers and distribute them to small retailers at a nominal mark-up. What market do they belong to? Reseller market.
What is a rational motive for the decision to make a purchase? an evaluation of the attributes of the product, for example, cost, quality, usefulness.
To help you decide which new suit to purchase for your job interview, you ask a trusted friend to give you her opinion on each of the suits you're looking at. You are in the ________ stage. Information.
What is the purpose of a marketing plan? To focus strategy for gearing market activities to meet consumers needs and wants.
What is a marketing mix? Otherwise known as the four P's. Product, price, promotion and place (distribution).
What is market segmentation? Dividing the market into segments... Such as age, consumer attitude, product use, location.
What is the purpose and value of market research? The study of what buyers need and how best to meet those needs. This can greatly improve accuracy and market segmentation.
What is primary data? Information developed through NEW research.
What is secondary data? Information already available to maker researchers as a result of previous research.
What are the key factors that influence the buying process? - Need recognition - Information seeking - Evaluation of alternatives - Purchase decision - Post purchase evaluation
What is the industrial market? It is the market that sells directly for production, either to be converted or used up during the process.
What is the reseller market? Markets like department stores etc that use finished products and sell them.
What is the institutional market? Non govn't orgs such as hospitals and churches.
What is an international marketing mix? A strategy to support global business with international products, international pricing, international promotion and distribution.
What is a small business mix? Using the marketing mix towards small business... Products (new, keep it simple), pricing (guesswork for small biz), promotion (less expensive promotion methods) and distribution (facility location is key).
What is a utility? The ability to satisfy a human want or need.
What is the external environment? Forces that influence the marketing strategy and decision making.
What are the different environments for marketing? External, political/legal (laws and reg), social and cultural (values/beliefs), technological, economic (inflation, recession, interest rates) and competitive (persuading use of their product vs. another).
Created by: armigrrl
 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards