NAME

Question types


Start with


Question limit

of 60 available terms

Print test

60 True/False questions

  1. Demographic SegmentationAge, income, gender, ethnic background and family life cycle

          

  2. Brand Equitythe name, term, design, symbol or any other feature that identifies your product as different from those of other products or companies in the market.

          

  3. a product includeswarranties, packaging, after-sales follow-up material, et cetera.

          

  4. ROIthe name, term, design, symbol or any other feature that identifies your product as different from those of other products or companies in the market.

          

  5. Product developmentthe improvement of existing products or the introduction of new products into a market.

          

  6. 80/20 Principlea principle holding that 20 percent of all customers generate 80 percent of the demand

          

  7. Speciality Producta type of product that requires consumer research and comparison of brands

          

  8. Optimizersbusiness customers who place an order with the first satisfactory supplier. (must act quick to get sale)

          

  9. convenience productconsumer product that takes little thought, is routine, purchased often, appeals to a large target market, the consumer purchases with little planning and has wide spread availability (gum, candy, soda)

          

  10. positionthe place a product, company or brand occupies in consumers' minds relative to the competition's offerings

          

  11. Market sharethe amount of the market a specific product has as it relates to units sold.

          

  12. United States Federal Government is consideredthe world's largest customer with over 600 million purchases made a year

          

  13. five different ways to consider segmenting a market:Geography
    Demographics
    Psychographics
    Benefits
    Usage-rate (GDPBU)

          

  14. competitor product analysisconsumer product that takes little thought, is routine, purchased often, appeals to a large target market, the consumer purchases with little planning and has wide spread availability (gum, candy, soda)

          

  15. consumer producta products purchased to satisfy individual wants or needs.

          

  16. Benefit segmentationto break the market into sections by climate, density, market size, world or states (snow shovels, wave runners, etc)

          

  17. Positioningchange consumers' perceptions in relation to the competition

          

  18. Raw Materialsunprocessed or agricultural products such as corn, fruit, veggies and fish. (fixed prices)

          

  19. shopping producta type of product that requires consumer research and comparison of brands

          

  20. 4 types of consumer productsConvenience, shopping, speciality & unsought (CSSU)

          

  21. tweensbetween the ages of 9 and 12 and have enormous spending potential due to their parents providing them with a large disposable income.

          

  22. Companies will not survive iffinished items (or products close to being finished) that are used to make other products like car tires

          

  23. The importance of market segmentation isdividing customers up by the benefit they get from using the product or service.

          

  24. Generation Xborn after baby boomer; many in this segment are not loyal to brands and are turned off by most media advertising.

          

  25. Processed materialunprocessed or agricultural products such as corn, fruit, veggies and fish. (fixed prices)

          

  26. no market segmentationtargeting everyone

          

  27. Producershow companies use a product

          

  28. Company characteristicssize, product use, location & type of company (sult)

          

  29. Geographic Segmentationto break the market into sections by climate, density, market size, world or states (snow shovels, wave runners, etc)

          

  30. repositionchange consumers' perceptions in relation to the competition

          

  31. Homogeneous shopping productsproducts are perceived by consumers as very similar in nature and the final purchase is usually determined on the lowest price. (appliances)

          

  32. Satisficersbusiness customers who place an order with the first satisfactory supplier. (must act quick to get sale)

          

  33. Business Serviceshow the company buys goods and services

          

  34. perceptual mappinga process that affects potential customers' perception of a brand, product or company.

          

  35. Psychographic segmentationsegmenting a market based on personality, motives and lifestyles

          

  36. business producta products purchased to satisfy individual wants or needs.

          

  37. accessory equipmenta subgroup of people or organizations that have one or more characteristics in common that cause them to have the same product needs.

          

  38. branddetermine if the development of the product is worth the return by evaluate the efficiency or attractiveness of an investment.

          

  39. surveyshelp companies to gather answers to specific questions about their product and the product segment so they can improve their products where needed (get tabulated data)

          

  40. Buying Processesa type of product that requires consumer research and comparison of brands

          

  41. usage rate segmentationdividing customers by how much of the product is used or consumed

          

  42. Baby Boomersbusiness customers who place an order with the first satisfactory supplier. (must act quick to get sale)

          

  43. fully segmented marketto target based on every individual factor available.

          

  44. Product Differentiationwhen a company uses a strategy to showcase why their product characteristics are superior to their competition (kia soul)

          

  45. Resellersbuy finished products and then resell them for a profit

          

  46. major equipmentproducts that are less expensive, and examples include copy machines or power tools (standardized offering & good ads)

          

  47. market segmentthe amount of the market a specific product has as it relates to units sold.

          

  48. Business Marketingexpense items that usually do not end up as part of the final product (consulting, legal)

          

  49. Unsought Productsa products purchased to satisfy individual wants or needs.

          

  50. Component Partsthe amount of the market a specific product has as it relates to units sold.

          

  51. product use(OEMS) organizations that purchase goods and services to produce other products, to incorporate into other products or to facilitate the daily operation of the company.

          

  52. Why do companies develop new products?to ensure they can continually penetrate existing markets and potentially enter new one

          

  53. marketdetermine if the development of the product is worth the return by evaluate the efficiency or attractiveness of an investment.

          

  54. Family life cycle segmentationdividing customers by how much of the product is used or consumed

          

  55. profitabilitythe place a product, company or brand occupies in consumers' minds relative to the competition's offerings

          

  56. OEMSbetween the ages of 9 and 12 and have enormous spending potential due to their parents providing them with a large disposable income.

          

  57. Heterogenous shopping productsa type of product that requires consumer research and comparison of brands

          

  58. Criteria for Successful Segmentationa series of stages determined by a combination of age, marital status and the number of children in a household.

          

  59. Brand messagethe commercial value that can be put on a brand.

          

  60. suppliesproducts that are usually inexpensive and need to be purchased frequently like paper towels, pencils, paper and staples.(price is key)