QUESTION 10 Which of the following is the first step of Marketing Decision Makin
ID: 393140 • Letter: Q
Question
QUESTION 10 Which of the following is the first step of Marketing Decision Making Process? Evaluating the decision and the decision process QUESTION 11 Which of the following is an example of growth by diversification? O a company introducing a new product category in an existing market 0 a company introducing new product category in a new market O a company introducing its existing products in a new market O a company integrates backward to cut costs O a company increases its product line in an existing market QUESTION 12 f a marketing manager segments the market into culture, sports, or outdoor-orliented groups, he or she is segmenting the market on the basis of O user status loyalty status QUESTION 13Explanation / Answer
10. Answer: Defining the problem
Explanation:
The marketing decision making stage involves five stages and the first stage is defining the problem. Considering relevant information is the second, identifying the best alternative is the third and evaluating the decision and the decision process is the last stage.
11. Answer: a company introducing a new product category in a new market
Explanation:
Diversification occurs when a business moves into totally different lines of business with unfamiliar products, markets or even levels in the production-marketing system. When the firm introduces a new product category in a new market, it is an example of growth by diversification.
12. Answer: Psychographic lifestyle
Explanation:
The marketer uses a combination of psychology and demographics to understand the customers under psychographics and psychographic lifestyle yields culture oriented, sports oriented and outdoor oriented segmentation. Hence here the marketing manager segments the market on the basis of psychographic life style.
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