BUSN Chapter 11 – Flashcards

A marketing strategy consists of the selection and analysis of a target market and

The process of systematically gathering, recording, and analyzing data concerning a particular marketing problem is called

Marketing managers are better able to predict consumer responses to marketing strategies and to develop a satisfying marketing mix if they are aware of the factors that

A market is a group of individuals and/or organizations that have needs for products in a given category and have the ability, willingness, and ___________ to purchase such products.

The effects of economic conditions on consumers' ability and willingness to buy would best be called _________ forces.

A computer-based system for continually gathering internal and external information is called

To implement the marketing concept, a firm must first

The organizational function and set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders is

The utility created by converting production inputs into finished products is called __________ utility.

The amount of a product an organization expects to sell during a certain period of time, based on a specified level of marketing effort, is called a