Chapter 10: Marketing - Part 1: Content Review

Which of the following is an element of the marketing concept?

• Customer satisfaction

• Vendor satisfaction

• Behavioral segmentation

• All of the above.

Dividing the market by certain preferences or lifestyle choices is _____.

• demographic segmentation

• psychographic segmentation

• mass marketing

• target marketing

Which of the following is not an influence on consumer buying behavior?

• Social

• Psychological

• Informational

• Situational

Which of the following business-to-business (B2B) buying decisions involves a great deal of research and thought?

• Repeat purchase

• Modified purchase

• New purchase

• Impulse purchase

The ____ level of a business-to-business (B2B) buying decision involves little research and thought.

• repeat purchase

• modified purchase

• new purchase

• impulse purchase

In the space provided, write the word(s) that best completes each of the following statements. The _____ is an approach to business that focuses on satisfying customers.

• marketing concept

• production concept

• sales concept

• product concept

An amount of money requested or exchanged for a product is _____.

• price

• cost

• value

• fee

The plan that helps a business meet its overall goals and objectives is a(n) ____.

• strategy

• tactic

• procedure

• policy

Segmenting a market based on where customers live is ____.

• geographic segmentation

• demographic segmentation

• psychographic segmentation

• behavioral segmentation

Dividing the market of potential customers by their personal statistics is ____.

• demographic segmentation

• geographic segmentation

• psychographic segmentation

• behavioral segmentation