MKT 1 - MKT 1 1. _ are business customers seek to achieve...

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MKT 1 1. _____ are business customers seek to achieve goals other than the standard business goals of profit or market share.: Institutions. 2. _____ is the basic unit of exchange?: A transaction. 3. _____ is the benefits or value received by users of a product.: Utility. 4. _____ is the relationship between benefits received and their cost.: Value. 5. _____ refers ti the amount of time and effort a buyer invests in the search, evaluation and decision processes of consumer behavior.: Involvement. 6. _____ utility is associated with the physical or chemical changes that make a product more valuable.: Form. 7. _____ utility relates to the satisfaction proud owners get from the products they own.: Possession. 8. ______ utility exists when a product is readily accessible to potential customers.: Place. 9. A market-oriented organization targets its products at?: Specific groups of people. 10. A sales-oriented organization targets its products at?: Everybody. 11. According to the material presented in class, marketing can be thought of as a(n) _____ or as a(n) _____?: Philosophy, business function. 12. According to your instructor, one of the things that makes the concept of value interesting to marketers is that:: Customers do not always perceive all of the costs r all of the benefits associated with a product. 13. According to your instructor, principles of marketing - understanding the needs of the customer and developing need-satisfying offerings - can help you in your life, not just in your business. For example, you could consider _____ as a marketing situation where you are the product.: Find a new job. 14. According to your instructor, the reason people experience buyers remorse after making a major purchase is because?: Once you have made a choice between two attractive alternatives, you experience a sense of loss over the alternative that you didn't choose. 15. According to your textbook, one of the most common ways consumers recognize they have unmet needs is when. ..?: There are about to run out of something they generally keep on hand. 16. According to your textbook, the value of customer satisfaction can be demonstrated by a study that showed reducing customer attrition by just 5-10% could increase annual profits by _____?: As much as 75%. 17. Annabelle is in a hurry. She is on her way home from school and has to prepare for a job interview the next day. In addition, she has a term paper due in her "Philosophy of Pure Reasoning" class that is due the next day. When she is almost home, her roommate calls her on her cell phone and asks her to pick up some laundry detergent - it doesn't matter what kind - on her way home. Based on what you learned about eh consumer buying process, which strategy is Annabelle likely to use in identifying alternative laundry detergents?: Internal or memory based strategies because it is the least effortful approach. 18.
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MKT 1 - MKT 1 1. _ are business customers seek to achieve...

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