PBMF Chapter 10 Review

In regards to the 4 P's of Marketing: anything that can be bought or sold.

• Price

• Product

• Promotion

• Place

The activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offers that have value for customers, clients, partners, and society at large is called:

• Marketing Mix

• Marketing

• The 4 P's of Marketing

The specific group of people at which a company aims to promote its goods and services is called:

• Consumer

• Market

• Target Market

In regards to the 4 P's of Marketing: the processes of communication with potential customers in an effort to influence their buying behavior.

• Price

• Product

• Promotion

• Place

This type of segmentation divides the market of potential customers by certain preferences or lifestyle choices:

• Demographic Segmentation

• Psychographic Segmentation

• Geographic Segmentation

• Behavioral Segmentation

An item that is intangible (consumed at the time of purchase) and cannot be touched is called:

• Product

• Service

• Good

A detailed description of the typical consumer in a market segment is called:

• Market

• Target Market

• Customer Profile

Choose the answer that best matches the level on Maslow's Hierarchy of Needs: The level where a person needs to be liked and respected.

• Security

• Esteem

• Love and Acceptance

• Physical Needs

• Self-Actualization

A purchase that involves a great deal of research and planning is called:

• Limited Buying

• Impulse Buying

• Routine Buying

• Extensive Buying

An item that is tangible and can be touched is called:

• Product

• Good

• Service