GBS151 Chapter 11 REVIEW QUESTIONS 1-5 (1)

GBS151 Chapter 11 REVIEW QUESTIONS 1-5 (1) - Give an...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 11: Marketing Processes and Consumer Behavior REVIEW QUESTIONS 1-5 1. What are the key similarities and differences between consumer buying behavior and B2B buying behavior? Both deal with the way people purchase and consume products. However, organizational buyers are professional, specialized, and expert, relying less on product image. Buyer-seller relationships tend to be longer lasting. 2. Why and how is marketing segmentation used in target marketing? Market segmentation is a method of breaking consumers into mutually exclusive groups based on similar characteristics that are likely to affect consumption. By identifying and targeting segments that are most likely to purchase its products, an organization can tailor its marketing efforts in terms of product features and benefits, pricing, packaging, promotion, and distribution. 3. What are the various classifications of consumer and industrial products?
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Give an example o² a good and a service ²or each category other than those discussed in the text. Consumer Products Convenience goods and services – candy, A²M services Shopping goods and services – clothing, car repair Specialty goods and services – houses, interior design Industrial Products Expense items – inventory, repair bills Capital items – computer servers, long-term maintenance contracts 4. How is the concept o² the value package use²ul in markeTng to consumers and industrial customers? A package serves as an in-store adverTsement that makes the product more a³racTve, displays brand name, and idenT±es features and bene±ts. Packaging features add uTlity for consumers. 5. What is B2C? Business-to-consumer: ±rms that sell goods to consumers for personal consumpTon...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern