2.01 B Marketing Terms
Behavioral Segmentation - CORRECT ANSWERdivides customers into groups
according to similarities in benefits sought or product usage patterns
Demographic Segmentation - CORRECT ANSWERDivides market on the basis of its
physical and social characteristics.
Ex. gender, education, age, and family life cycle.
geographic segmentation - CORRECT ANSWERCustomers are grouped on the basis
of geographic divisions
Market - CORRECT ANSWERA customer or a potential customer who has an unfulfilled
desire and is financially able and willing to satisfy that desire
Market segmentation - CORRECT ANSWERDividing a market into distinct groups of
buyers who have different needs, characteristics, or behaviors, and who might require
separate products or marketing programs
marketing segments - CORRECT ANSWERmarketers divide the total market for their
products into smaller more specific groups
mass marketing - CORRECT ANSWERInvolves designing products and directing
marketing activities to appeal to the whole market
pyschographic segmentation - CORRECT ANSWERlifestyle, personality traits, values
and attitude, activities, interests and opinions (AIO), social status
Target Market - CORRECT ANSWERthe identification and selection of markets for a
business or for a product
Product/Service Management - CORRECT ANSWERA marketing function that involves
obtaining, developing, maintaining, and improving a product or service mix in response
to market opportunities.
, Good - CORRECT ANSWERa physical item that is produced and can be weighed or
measured
Tangible - CORRECT ANSWERcan be touched
Service - CORRECT ANSWERAny activity that fulfills a human want or need and
returns money to those who provide it.
Intangible - CORRECT ANSWERnot able to be touched or sensed
Product-Related Service - CORRECT ANSWERServices that are offered with a product
such as maintenance, delivery, or repair.
Bundle - CORRECT ANSWERPaying one price for an entire good-service package.
Pure service - CORRECT ANSWERproducts that do not include any goods
Benefits - CORRECT ANSWERParts of a product that a customer is looking for in the
product.
Positioning - CORRECT ANSWERa strategy used by a company to differentiate its
products or services from its competitors' products or services
Corporate Brand - CORRECT ANSWERAll the combined customer impressions and
experiences associated with a particular company
Prototype - CORRECT ANSWERan original model on which later versions are
patterned
Licence - CORRECT ANSWERBuying the permission from a company to sell their
product.
Test marketing - CORRECT ANSWERthe limited introduction of a product and a
marketing program to determine the reactions of potential customers in a market
situation
Brand - CORRECT ANSWERAll the combined impressions and experiences associated
with a particular company, good, or service
Logo - CORRECT ANSWERa symbol or design that serves to identify an organization
or institution
Brand Promise - CORRECT ANSWERthe specific benefit that customers can expect
from using the good/service and interacting with the company
Behavioral Segmentation - CORRECT ANSWERdivides customers into groups
according to similarities in benefits sought or product usage patterns
Demographic Segmentation - CORRECT ANSWERDivides market on the basis of its
physical and social characteristics.
Ex. gender, education, age, and family life cycle.
geographic segmentation - CORRECT ANSWERCustomers are grouped on the basis
of geographic divisions
Market - CORRECT ANSWERA customer or a potential customer who has an unfulfilled
desire and is financially able and willing to satisfy that desire
Market segmentation - CORRECT ANSWERDividing a market into distinct groups of
buyers who have different needs, characteristics, or behaviors, and who might require
separate products or marketing programs
marketing segments - CORRECT ANSWERmarketers divide the total market for their
products into smaller more specific groups
mass marketing - CORRECT ANSWERInvolves designing products and directing
marketing activities to appeal to the whole market
pyschographic segmentation - CORRECT ANSWERlifestyle, personality traits, values
and attitude, activities, interests and opinions (AIO), social status
Target Market - CORRECT ANSWERthe identification and selection of markets for a
business or for a product
Product/Service Management - CORRECT ANSWERA marketing function that involves
obtaining, developing, maintaining, and improving a product or service mix in response
to market opportunities.
, Good - CORRECT ANSWERa physical item that is produced and can be weighed or
measured
Tangible - CORRECT ANSWERcan be touched
Service - CORRECT ANSWERAny activity that fulfills a human want or need and
returns money to those who provide it.
Intangible - CORRECT ANSWERnot able to be touched or sensed
Product-Related Service - CORRECT ANSWERServices that are offered with a product
such as maintenance, delivery, or repair.
Bundle - CORRECT ANSWERPaying one price for an entire good-service package.
Pure service - CORRECT ANSWERproducts that do not include any goods
Benefits - CORRECT ANSWERParts of a product that a customer is looking for in the
product.
Positioning - CORRECT ANSWERa strategy used by a company to differentiate its
products or services from its competitors' products or services
Corporate Brand - CORRECT ANSWERAll the combined customer impressions and
experiences associated with a particular company
Prototype - CORRECT ANSWERan original model on which later versions are
patterned
Licence - CORRECT ANSWERBuying the permission from a company to sell their
product.
Test marketing - CORRECT ANSWERthe limited introduction of a product and a
marketing program to determine the reactions of potential customers in a market
situation
Brand - CORRECT ANSWERAll the combined impressions and experiences associated
with a particular company, good, or service
Logo - CORRECT ANSWERa symbol or design that serves to identify an organization
or institution
Brand Promise - CORRECT ANSWERthe specific benefit that customers can expect
from using the good/service and interacting with the company
