Marketing Ch. 9 Developing a Market Strategy

A _______________________ specifies the way marketing activities are planned and coordinated to achieve the organization's goals.

• Marketing Concept

• Marketing Strategy

• Marketing Plan

• Marketing Mix

_______________ is a clearly identified segment of the market to which the company wants to appeal.

• Target Market

• Market

• Mass Marketing

• Audience

There are 4 criteria to creating an effective target market which one is not one of those 4.

• People within the target market must have common, important needs and must respond in a similar way to marketing activities designed to satisfy those needs.

• People outside the target market should have enough differences from those in the target market that they will not find the marketing mix satisfying.

• The company needs adequate information about the people in the target market so they can be identified and located

• The important wants/needs and their buying behaviors must be understood so that an effective marketing mix can be developed.

• These are all part of the criteria

Interests, values and beliefs, religion and hobbies are an example of what type of segmentation

• Demographics

• Benefit Expectation

• Geographic

• Psychographic

If a product has more than one target market, each one will require a different marketing mix

• True

• False

wifi capabilities, bluetooth, and surround sound for a television are examples of

• Basic Product

• Product Options

• Product Features

• Guarantees or Warranties

the amount a buyer pays as well as the methods of increasing the value of the product to the customers

• Product

• Price

• Place

• Promotion

Products that are regular routine purchases.

• Emergency Goods

• Attribute-Based Goods

• Unsought Goods

• Staple Goods

Examples: Magazines, Candy, Gum, and sodas

• Impulse Goods

• Staple Goods

• Price-Based Goods

• Attribute-Based Goods

Products or services purchased as a result of an urgent need

• Staple Goods

• Impulse Goods

• Emergency Goods

• Shopping Goods