Quiz1_PricingStrategy_Marketing

What is defined as a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others?

What is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need?

What is the amount of money charged for a product or service; the sum of the values that customers exchange for the benefits of having or using the product or service?

A market offering is any of the following, except

What is the act of obtaining a desired object from someone by offering something in return?

What is a trade between two parties that involves at least two things of value, agreed-upon conditions, a time of agreement and a place of agreement?

What type of marketing is aimed to reduce demand temporarily or permanently – the aim is not to destroy demand, but only to reduce or shift it?

What marketing philosophy states that consumers will favor products that are available and highly affordable, and that management should therefore focus on improving production and distribution efficiency?

What marketing philosophy stresses the idea that consumers will favor products that offer the most quality, performance and features, and that the organization should therefore devote its energy to making continuous product improvements

What marketing philosophy presents the idea that consumers will not buy enough of the organization’s products unless the organization undertakes a large-scale selling and promotion effort?

What is the marketing management philosophy which holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do?

Which marketing philosophy stresses the idea that the organization should determine the needs, wants and interests of target markets and deliver the desired satisfactions more effectively and efficiently than competitors in a way that maintains or improves both the consumer’s and society’s well-being?

What is the dividing of a market into distinct groups of buyers with different needs, characteristics or behavior, who might require separate products or marketing mixes?

What is the way the product is defined by consumers on important attributes – the place the product occupies in consumers’ minds relative to competing products?

What is considered as a runner-up firm in an industry that wants to hold its share without rocking the boat?