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BUS 508 Chapter 11 Quiz 1. ________ is an 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. 2. ________ are marketing or sponsoring short-term events such as athletic competitions and cultural and charitable performances. 3. An organizationâ€™s ________ is the group of potential customers toward whom it directs its marketing efforts. 4. ________ refers to an orderly transfer of goods and services from the seller to the buyer.
5. ________ is dividing markets on the basis of various demographic or socioeconomic characteristics such as gender, age, income, occupation, household size, stage in family life cycle, education, or ethic group. 6. A ________ gathers 8 to 12 people in a room or over the Internet to discuss a particular topic. 7. ________ power of a good or service to satisfy a want or need. 8. ________ are another tool for building emotional links with customers. 9. Age is perhaps the most volatile factor in demographic segmentation in the United States, with our rapidly aging population. 10. Good relationship with customers can be vital strategic weapons for a firm. 11. ________ is part of the broader field of business intelligence, is the task of using computer-based technology to evaluate data in a database and identify useful trends. 12. ________ involves more than just designing a good or service with needed attributes. 13. Although demographic classifications such as age, gender, and income are relatively easy to identify and measure, researchers also need to define psychographic categories. 14. ________ can be divided through geographical segmentation, demographic, or customer-based, segmentation, and end-use segmentation. 15. ________ is the process of dividing a market into several relatively homogeneous groups. 16. A marketing plan is not a key component of a firmâ€™s overall business plan. 17. ________ goes beyond an effort toward making the sale. 18. A ________ is a companywide consumer orientation to promote long-run success. 19. Not-for-profit organizations do not operate in both public and private sectors. 20. ________ are actions of ultimate consumers directly involved in obtaining, consuming, and disposing of products and the decision processes that precede and follow these actions.