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Terms in this set (15)Which of the following occurs between similar products and is based on buyers' perceptions of the benefits of products offered by particular companies? Brand competition A company decides to introduce a line of crackers made with organically grown grains and vegetables. What environmental trend is the company responding to? Sociocultural What do organizations use to build better, stronger information connections with clients? Customer relationship management (CRM) What type of utility is practiced by those companies who allow marketers to have a voice in product design and identifying features customers want? Form utility What specific issues do marketing strategies help marketers determine? The marketing activities a business will use to achieve marketing goals What part of the marketing mix includes communicating information about products and is the most visible component of the marketing mix? Promotion Which of the following represents a feature or image that makes one product different from its competitors? Product differentiation What is the overall effect when a good or service is priced higher than competitors? There will be an implication of higher quality standards. What is the term for the communication efforts that are designed to build goodwill and build favorable attitudes in consumers? Public relations Which is usually the first step in the marketing strategy that allows marketers to focus efforts on a particular group of people or organizations? Target market selection For marketers, what type of variables are lifestyles, opinions, interests, and attitudes? Psychographic variables When is conducting market research generally most effective? When developing new products or altering existing products What is the advantage of utilizing focus groups for research? They allow for more in-depth discussion on complex issues. Which of the following is an advantage of using viral marketing and social networking? Marketers can reach a wider audience at a lower cost. What are B2B buyer-seller situations often based on? Frequent and enduring buyer-seller relationships Recommended textbook solutions
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What is the term for a detailed strategy for focusing marketing efforts on consumers needs and wants?Marketing plan. detailed strategy for focusing marketing efforts on consumers' needs and wants.
What process is used by marketers to communicate the nature of a product to a target segment?Explanation: A) Once marketers identify a target segment, they can begin marketing products for that segment. The process of fixing, adapting, and communicating the nature of the product itself is called product positioning.
What is the term for the process of creating communicating and delivering value?Marketing is a set of processes for creating, communicating, and delivering value to customers and for improving customer relationships. It includes everything that organizations do to satisfy customers' needs.
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What is the term for the communication efforts that are designed to build goodwill and build favorable attitudes in consumers?
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