Mie 201 Exam 4 (11,12,13) Makanui Questions And Answers Rated 100% Correct!!

price {Ans: a value based on an object exchanged between a buyer and seller}social media marketing {Ans: involves obtaining communications with consumers through social media sites}addressability {Ans: the ability of the marketer to identify customers before they make a purchase}crowdsourcing {Ans: describes how marketers use digital media to find out the opinions or need of the crowd}total-market approach {Ans: they try to appeal to everyone and assume that all buyers have similar needs and wants}product development {Ans: if product survives 1st 3 steps, it is developed into a prototype that should reveal the intangible attributes it possess as perceived by the consumer; is expensive; few products make it here}market segment {Ans: a collection of individuals, groups, or organizations who share one or more characteristics and thus have relatively similar product needs and desires}brand {Ans: a name, term, symbol, design, or combination that identifies a product and distinguishes it from other products}exchange {Ans: the act of giving up one thing ($, credit, labor, goods) in return for something else (goods, services, or ideas)}target market {Ans: a more specific group of consumers on whose needs and wants a company focuses its marketing