KTG Study guides, Class notes & Summaries

Marketing creates, communicates, and delivers value to the firm's chosen customers. This enables the firm to attract and keep customers. Attracting and keeping customers drive _____________ for the firm. A. Priced B. Profitability C. Promotion D. Product E. Place correct answers B. Profitability The path to profitability starts with: A. Understanding customers within the context of the marketing environment B. Executing clever advertising campaigns using digital media C. Reducing pric...

Marketing Segmentation correct answers Process of grouping customers into relatively homogeneous segments Customers within a segment respond similarly to the marketing effort directed at them Criteria for Effective Segmentation correct answers Measurable Accessible Durable Substantial Unique Needs Effective Segmentation--Measurable correct answers Individuals can be assigned to a segment and counted Effective Segmentation--Accessible correct answers Individuals in the segment ca...

Role of Marketing correct answer: Generate profitable revenue When a marketer can describe something it is called a correct answer: product concept After buying an item we experience what? correct answer: cognitive dissonance Ways to engage consumers, directly or indirectly correct answer: -Directly: physically, email newsletters, one to one basis, calling, sending direct ads/texting, create relationship, personalizing advertising toward you -Indirectly: social media, PR, content m...

Solution Manual for MKTG, 13th Edition by Charles W. Lamb

what is the goal of all businesses correct answers survival *we ensure this by being profitable *we make a profit by generating more revenue than costs incurred what is the goal of marketing correct answers to raise revenues, or at an even more basic level, market share market share correct answers is always expressed as a percentage and is used to monitor growth market share = (our sales in x product category) / (total industry sales in product category x) how do we raise market sh...

Love, Swing, Hate Groups correct answers • Firm helps the swing group see the issues/benefits via the eyes of the love group • Don't turn back from the love group • Swing group brings the biggest opportunity to the brand Geographic Segmentation correct answers • Regions, population, size, density Demographic Segmentation correct answers • Age, gender, income, education Psychographic Segmentation correct answers • Personality, lifestyle, motive Behavioral Segmentation c...

In distribution, ______________________ or agents sell on commission offering a limited number of product lines and are generally used by small firms unable to afford the fixed cost of a sales force. a) Direct Sales Personnel b) Distributors c) Manufacturer's representatives d) Brokers correct answers C) Manufacturer's representatives When looking at how B2B Marketing interacts with B2B strategy, ____________________ describe(s) what the firm does differently, better or as well as the b...

BCG Growth Model correct answers Stars, Cash cows, question marks, dogs Path to Profitability correct answers Marketing Environment, Marketing mix, capture value, profits Brand Champions/Love Group correct answers The group that supports your company and the products in it Product Market Expansion Matrix correct answers Market Penetration, Product Development, Market Development, Diversification Market Penetration correct answers existing products, existing markets Product Develop...

Demand risk does not include problems of _______________. a. the marketplace b. studies of people articulating demand c. market size d. manufacturing challenges correct answers d. manufacturing challenges Which item does not help mitigate execution risk? _______________. a. Additional funds b. Experience c. Getting team feedback d. Planning correct answers a. Additional funds Supply-driven products link _______________. a. a problem and a solution b. a capability and dema...