BUSI ch 11 part 1 – Flashcards

What is the term for the process of creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders?

What is the term for intangible products, such as time, expertise, or an activity that can be purchased?

Which of the following identifies products that are dissimilar from those of competitors but can fulfill the same need?

What is the term for the type of competition based on buyers' perceptions of the benefits of products offered by particular companies?

What is the term for a detailed strategy for focusing marketing efforts on consumers' needs and wants?

What is the term that encompasses a good, a service, or an idea designed to fill a consumer need?

What do marketers call groups of people with similar wants and needs?

What type of variables are lifestyles, opinions, interests, and attitudes referred to as?

What is the decision process by which customers come to purchase and consume products?

What type of behavior do consumers exhibit by regularly purchasing products because they are satisfied with their performance?

What are the tangible and intangible qualities that a company builds into its products?

What is selling the rights to place a brand name on products such as t-shirts referred to as?

When a wholesaler or retailer develops a brand name and has the manufacturer place that name on the product, what is that product name called?

A product's benefits include all of the following EXCEPT which?

What type of goods include raw materials and integrated circuits?

What type of marketing do insurance companies, airlines, investment counselors, health clinics, and public accountants typically engage in?

What type of marketing is a "loyalty banking" program an example of?

What is data warehousing?