BUSI2204 MIDTERM|QUESTIONS AND ANSWERS |
UPDATED
Need
State of self-depriva on
Want
The marke ng opportuni es to fulfill the needs
demand
Consumer willingness (monetary value) and ability to buy products
customer sa sfac on
customers' evalua on of a good or service in terms of whether it has met their needs and
expecta ons
customer equity
the value of customer rela onships that the brand creates
Marke ng Myopia
focusing only on exis ng wants and losing sight of underlying consumer needs (short-sided
marke ng)
Marke ng management orienta ons (5)
produc on, product, selling, marke ng, societal marke ng
Produc on Concept
consumers will favor products that are available and highly affordable
Selling Concept
Aims to sell what the company already makes
Marke ng Concept
Focuses on the customers needs by sa sfac on. Consumers want sa sfac on, company wants
profit
UPDATED
Need
State of self-depriva on
Want
The marke ng opportuni es to fulfill the needs
demand
Consumer willingness (monetary value) and ability to buy products
customer sa sfac on
customers' evalua on of a good or service in terms of whether it has met their needs and
expecta ons
customer equity
the value of customer rela onships that the brand creates
Marke ng Myopia
focusing only on exis ng wants and losing sight of underlying consumer needs (short-sided
marke ng)
Marke ng management orienta ons (5)
produc on, product, selling, marke ng, societal marke ng
Produc on Concept
consumers will favor products that are available and highly affordable
Selling Concept
Aims to sell what the company already makes
Marke ng Concept
Focuses on the customers needs by sa sfac on. Consumers want sa sfac on, company wants
profit
