Business Chapter 11 Vocab

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Across
  1. 1. The four marketing activities- product, price, promotion, and distribution- that the firm can control to achieve specific goals within a dynamic marketing environment
  2. 6. A specific group of customers on whose needs and wants a company focuses its marketing efforts
  3. 8. The decision process and actions of people who purchase and use products
  4. 9. Information that is compiled inside or outside an organization for some purpose other than changing the current situation.
  5. 10. Groups with whom buyers identify and whose values or attitudes they adopt
  6. 13. A market segmentation approach whereby a company develops one market strategy for a single market segment
  7. 14. An approach whereby a firm tries to appeal to everyone and assumes that all buyers have similar needs
  8. 16. Making products available to customers in the quantities desired
  9. 17. A ranking of people into higher or lower positions of respect
  10. 21. A set of expectations for individuals based on the position they occupy
Down
  1. 2. A strategy whereby a firm divides the total market into groups of people who have relatively similar product needs
  2. 3. The integrated, accepted pattern of human behavior, including thought, speech, beliefs, actions, and artifacts.
  3. 4. Marketing information that is observed, recorded, or collected directly from respondents
  4. 5. A systematic, objective process of getting information about potential customers to guide marketing decisions
  5. 7. A group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services, and ideas.
  6. 11. A plan of action for developing, pricing, distributing, and promoting products that meet the needs of a specific customer
  7. 12. A market segmentation approach whereby the marketer aims its efforts at two or more segments, developing a marketing strategy for each
  8. 15. A value placed on an object exchanged between a Buyer and a seller
  9. 18. A customer’s subjective assessment  of benefits relative to costs in determining the worth of a product
  10. 19. A persuasive form of communication that attempts to expedite a marketing exchange by  influencing individuals, groups, and organizations to accept goods, services, and ideas.
  11. 20. A group of people who have a need, purchasing power, and the desire and authority to spend money on goods and ideas.