PBMF 10.1 and 10.2 Review

What is the first step in the consumer decision-making process?

• Gather information

• Select alternatives

• Evaluate alternatives

• Recognize a need

The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

• Marketing

• Target Market

• Final Consumer

• Buying motive

A company’s plan that identifies how it will use marketing to achieve its goals.

• Marketing orientation

• Marketing strategy

• Final consumer

• Target market

A specific group of customers that have similar wants and needs.

• Marketing orientation

• Marketing strategy

• Final consumer

• Target market

The blending of four marketing elements—products, distribution, price, and promotion.

• marketing strategy

• marketing functions

• marketing mix

• marketing orientation

An approach that considers the needs of customers when developing a marketing mix.

• marketing strategy

• marketing functions

• marketing mix

• marketing orientation

Persons who buy products and services mostly for their own use.

• Marketing orientation

• Marketing strategy

• Final consumer

• Target market

Persons, companies, and organizations that buy products for the operation of a business, for incorporation into other products and services, or for resale to their customers.

• final consumer

• target market

• business consumer

• marketing mix

The Five (5) steps consumers follow to make a purchase.

• Marketing mix

• Target market

• Consumer Decision-making process

• Buying motives

The emotional and rational reasons consumers decide what products and services to purchase.

• buying motives

• marketing

• marketing orientation

• marketing function