Business Questions

Therapeuten-Patientenrolle ist asymmetrisch, wer hat vor allem Mühe damit?

An image of a product or brand in a consumer's mind in comparison to its competitors is known astotal product.consumer value.product position.self-concept.

Identify a phenomenon that has a major negative impact on the social welfare of a society and not just the individuals involved.product positioningsocial marketinginjurious consumptioncustomer satisfaction

Select the regulatory bodies and/or policies that are designed to protect and educate consumers. (Select all that apply.)The Nutrition Labeling and Education ActThe National Labor and Relations BoardThe Food and Drug AdministrationThe Internal Revenue Service

The consumer decision process, along with the experiences and acquisitions associated with it, affects the internal and external characteristics of consumers. What aspect of the consumer is most influenced by this?The credit ratingThe awareness of new productsThe situations in which a consumer makes decisionsSelf-concept and lifestyle

Place the steps of the market segmentation process in the order in which they are implemented by a firm.describing each group of consumers with similar need setsidentifying the need sets related to productschoosing one or more attractive segments to serve sorting consumers into groups with similar need sets

Which of the following is a major determinant of the state of a country's economy?the number of developing countries that neighbor the countrythe emphasis the country places on keeping its citizens well informedthe degree to which the country encourages gender equalitythe cumulative impact of its citizens' consumption decisions

A firm developing a marketing strategy seeks to answer which question?How can we serve the market without utilizing the marketing mix?How can we portray our competitors in a negative light in the minds of consumers?How can we provide products to consumers at the highest price possible?How will we provide superior customer value to our target market?

Match the term to its correct description.Price - Consumer cost- The amount of money that must be paid to obtain the right to use a productWhat is surrendered in order to receive the benefits of owning/using a product

Identify an accurate statement about behavioral targeting.It has enabled firms to target large market segments for the first time.It focuses on larger markets rather than market segments.It has made it harder for firms to target smaller segments.It makes individualized communication more cost effective.

A portion of a larger market with similar needs that are somewhat different from the larger market is known as a marketmix.position.segment.outcome.

Customer value can be defined asobtaining a product or service at the lowest price possible, regardless of the benefits received.a marketing strategy that results in the purchase of a product by a consumer.the steps a consumer goes through in order to select a product or service.the difference between the benefits derived from a total product and the costs of acquiring those benefits.

A firm that offers auxiliary or peripheral activities that enhance the primary product is offering a _________________.

Which of the following are approaches to identify need sets of groups in the process of market segmentation?identifying a market segment first followed by its definition, then its characteristics, and lastly, its needsidentifying a target market first followed by characteristics and needs of the market segmentidentifying ethnic groups first followed by consumption-related needs across the groupsidentifying needs first followed by consumer characteristics associated with those needs

When does a firm select its target market for a product?before identifying customers with similar need sets related to the productbefore grouping customers according to their need setsafter describing each group of customers with similar need setsafter developing all the elements of a marketing mix, including the advertising and sales promotion

A ______ is how a company can provide superior customer value to its target market that involves the formulation of a marketing mix.product-related need setmarket analysismarketing strategyregulatory policy

Which of the following is true about the meaning of consumption?A solid marketing strategy can accurately assess the meaning of consumption for most consumers.Consumption frequently has deep meaning for the consumer.Buying decisions are a result of good marketing strategies and financial standing.It is mechanical and linear and can be quantified.

Which application of consumer behavior serves to protect consumers?market analysissocial marketinggreenwashingregulatory policy

Which market analysis component includes consideration of the state of the economy, the physical environment, government regulations, and technological developments?the companythe consumersthe conditionsthe competitors

What two items have prompted consumer demand for environmentally sound products?deterioration of the physical environmentthe ethnic makeup of the marketgovernment regulationsinternational trade barriers