Marketing Chapter 2 Test

Front 1

marketing oriented

Back 1

idea that to make a profit a business must focus all of its efforts on satisfying the needs and wants of its customers.

Front 2

geographics

Back 2

segmentation of a market based on where people live

Front 3

product benefits

Back 3

You are helping customers understand WHY this product will improve their lives.

Front 4

customer profile

Back 4

picture of a prospective customers based on geographics, demographic, and psychographics

Front 5

market segmentation

Back 5

dividing the total market into smaller groups of people who have specific needs and characteristics

Front 6

target marketing

Back 6

focusing all marketing decisions on the specific group of people you want to reach

Front 7

mass-marketing

Back 7

using a single marketing plan to reach all of the customers

Front 8

market:

Back 8

the group of all potential customers who share common needs and wants, and who have the ability and willingness to buy the product

Front 9

customers

Back 9

those who buy a product

Front 10

value

Back 10

personal satisfaction gained from use of a good or bad service

Front 11

psychographics

Back 11

study of consumers based on their lifestyles, and attitudes and values that shape it

Front 12

marketing mix

Back 12

combination of marketing decisions involving products, price, place, and promotion also called the Four P's

Front 13

positioning

Back 13

getting consumers to think of a product in a certain way