?The __________ refers to the seven stages a company goes through to recognize opportunities and convert them into sellable services or products
- ?psychographic segmentation process
- ?new-product process
- ?strategic focus and plan
- ?service gap analysis
__________ differentiates retail outlets depending on whether contractual systems, independent retailers, or corporate chains own the outlet.?
- ?Level of service
- ?Merchandise line
- ?Retail servicing
- ?Form of ownership
What is the difference between advertising and personal selling?
- ?Advertising does not have an immediate feedback loop, whereas personal selling does because of direct interaction with potential consumers.
- ?Advertising is always a paid activity to sell a product, whereas personal selling involves no direct payment to sellers.
- ?Advertising can control the amount of wasted coverage, whereas personal selling cannot control the amount of wasted coverage.
- ?Advertising uses customized interaction between sellers and potential consumers, whereas personal selling sells to a large group of potential consumers.
A __________ is often referred to as a business firm.
- ?for-profit organization
- ?publicly owned organization
- ?nonprofit organization
- ??government agency
__________ is the combination of benefits such as convenience, quality, and on-time delivery provided to targeted buyers by firms at a particular price.
- ?Business value
- ?Manufacturer value
- ?Seller Value
- ?Customer value
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