Which type of market buys goods and services for further processing or for use in the production process quizlet?
Business markets buy goods and services for further processing or use in their production processes. Reseller markets buy goods and services to resell as profit.
Which of the following terms is used to describe the factors and forces outside marketing which affect marketing management’s ability to build and maintain successful relationships with target customers?
The marketing macro environment includes the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful ongoing relationships with customers. -Marketing intermediaries help the company to promote, sell, and distribute its products to final buyers.
Which of the following factors is part of the Macroenvironment?
It consists of external factors that the company itself doesn’t control but is certainly affected by. The factors that make up the macro-environment are economic factors, demographic forces, technological factors, natural and physical forces, political and legal forces, and social and cultural forces.
When the marketing manager Suzie Kwan discusses factors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers she is talking about the external marketing concept?
When marketing manager Suzie Kwan discusses factors and forces outside marketing, such as political factors that affect marketing management’s ability to build and maintain successful relationships with target customers, she is talking about the external marketing concept. You just studied 25 terms!
Are marketing offerings limited to physical products?
Market offerings are limited to physical products. When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from marketing myopia. The selling concept holds that consumers will not buy enough of the firm’s products unless it undertakes a large-scale selling and promotion effort.
Are the most important actors in a company’s microenvironment?
-Customers are the most important actors in the company’s microenvironment. Customers include consumer markets, business markets, reseller markets, and international markets.
What are the six major actors in the micro environment?
The microenvironment is composed of six major actors. These are: the company, suppliers, marketing intermediaries, competitors, publics, and customers. The purpose of the microenvironment is to build better customer relationships by creating value and satisfaction (Friesner).
What are the six actors in microenvironment?
There are 6 actors existing in a microenvironment. They are: the company (itself), suppliers, marketing intermediaries, customer markets, competitors, and publics.
What must companies do to create successful new products quizlet?
What must companies do to create successful new products? A. Understand its consumers, markets, and competitors and develop products that deliver superior value.
What is the main reason for services being variable?
One characteristic of services is their variability. What is the main reason for services being variable? A. Service quality depends on who provides them, as well as when, where, and how they are provided.
Are modified and improved products considered new?
New products are usually successful because consumers like new things. Innovation can be very expensive and very risky. Modified and improved products are considered new.
What is the main disadvantage of direct investment quizlet?
The main disadvantage of direct investment is that the firm faces many risks, such as restricted or devalued currencies, falling markets, or government changes.
Which type of advertising is heavily used for new product category introductions?
Pioneering advertising is heavily used in the introductory stage of product life cycle when a new product is launched. The goal of using competitive advertising is to influence demand for a specific brand.
Which channel partners in a company’s supply chain are upstream from a manufacturer or producer?
Which channel partners in a company’s supply chain are upstream from a manufacturer or producer? Suppliers.
What are the 3 distribution strategies?
The Three Types of Distribution
- Intensive Distribution: As many outlets as possible. The goal of intensive distribution is to penetrate as much of the market as possible.
- Selective Distribution: Select outlets in specific locations.
- Exclusive Distribution: Limited outlets.
What is distribution strategy?
A distribution strategy is a method of disseminating goods or services to end-users. Implementing the most efficient distribution method for your business is key to obtaining revenue and retaining customer loyalty. Some companies opt to use multiple distribution methods to adhere to different consumer bases.