Chapter 11-page 381, Review Questions questions 7,11 and the below VALS survey. 7.) An organization’s target market is the group of potential customers toward whom it directs its marketing efforts. Target market selection is usually the first step of a marketing strategy because the target market is the the group of customers the marketing strategy is structured to market to. 11.) Three major determinants of consumer behavior include cultural, social, and family. Cultural for example having turkey on thanksgiving is the typical culture behavior of an American Family. Social for example can be celebrity influence via twitter to get consumers to buy something. Family for example can be a parent or siblings influence to get you to buy something. Chapter 12-page 421-422
* Review Questions-#2, 5, and 9
2.) A company’s product line is a group of related products marked by physical similarities or intended for a similar market. A product mix is the assortment of product lines and individual goods and services that a firm offers to consumers and business users. The Coca-Cola Company have product lines that include old standards- Coke Classic and Diet Coke. A product line can be the line of different Coke products offered by Coke. 5.) Brand recognition, Brand preference, and Brand insistence. Brand insistence is important because at this point the brand will be looked for in other markets meaning more buyers. 9.) Intensive distribution, Selective distribution, and Exclusive distribution. Two examples of intensive distribution product is milk or newspapers. Two examples of selective distribution are designer or prestige goods. Two examples of exclusive distribution are Rolex watches or exotic exports autos. Chapter 13-page 459
* Projects and Teamwork Applications-Question #1.
1.) A product I’ve recently purchased was Ciroc premium vodka. I bought it at a nightclub. They have billboards near the club advertising Ciroc premium vodka. They have signs in the...
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