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10 Cards in this Set
- Front
- Back
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Marketers define customer value as |
The perceived benefits, both monetary and non monetary, that costumers received from a product with the cost associated with obtaining it |
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What is the key to creating value? |
Providing consumers with benefits that meet their needs and wants |
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What elements of the marketing plan helps firms understand where they are currently and how best to move forward? |
Situational Analysis |
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What two elements are combined on the BCG matrix to produce its four uníque product categories |
Market growth and relative market share |
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The internal considerations in a SWOT Analysis are |
A firms strengths and weaknesses |
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A measure of how optimism consumers are about the overall state of the economy and their own personal finances is referred to as |
Consumer confidence |
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The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs is known Asto |
Consume behavior |
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The study of individuals, groups, or organizations and processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs is known as |
Consumer behavior |
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Daniel Kahnemans mode of thought referred to as system 1 can be described as |
An automatic, nonconscious way of thinking |
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The use of statistical techniques and algorithms based on patterns of past behavior to predict future buying behavior is called |
Predictive modeling |
