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Questions and Answers
What is the difference between needs and desires?
What are the different types of needs?
What is exchange?
What is segmentation?
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What are the different methods used for segmentation?
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What is targeting?
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What is synchro marketing?
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What is demarketing?
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What are rational needs based on?
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What are emotional needs based on?
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Study Notes
- Marketers cannot create needs, only desires.
- Needs are basic human requirements, desires are the materialization of the will to satisfy a need through a specific product, and demand is quantified desire or want for a specific product based on the ability to pay.
- There are different types of needs, including stated, real, unstated, delight or unexpected, and secret.
- Rational needs are based on objective measures, while emotional needs are based on personal, subjective criteria.
- Exchange is the act of obtaining a desired object from someone by offering something in return.
- Segmentation is dividing a market into distinct groups of customers with different characteristics, needs, and behaviors.
- Geographic, demographic, psychographic, and behavioral segmentation are different methods used for segmentation.
- Targeting involves evaluating each segment's attractiveness for the company and selecting one or more segments to enter.
- Synchro marketing involves finding ways to alter the time pattern of demand through flexible pricing, promotion, and other incentives.
- Demarketing involves finding ways to reduce demand temporarily or permanently, such as through general marketing and reducing promotion and service or selective demarketing.
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Description
Are you interested in marketing and consumer behavior? Test your knowledge with this quiz that covers topics such as needs, desires, segmentation, targeting, and more. Sharpen your skills on the different types of needs and methods used for market segmentation. See how much you know about synchro and demarketing and their impact on demand. Impress your friends and colleagues with your marketing expertise by acing this quiz!
