Marketing Fundamentals

The demand for surgery is negative because a customer can opt for alternative eg. medicines and thereby demand for surgery is reduced.<o:p>

Marketing myopia is related to the product concept in which the organizations do not lay stress on the marketing strategies they should follow and the way they should change them according to the future market requirements. Hence, they tend to stick to the process of improvising their product and believe that a good product sells for itself with or without a marketing strategy.<o:p>

The services of a spa center relate to all of the options as they are in itself a service, a product and an experience.<o:p>

Customer perceived value refers to the difference between the prospective customer evaluation of all benefits and costs of a product  the perceived alternatives. 

The definition in option (b) defines simple retention markets. 

It is more expensive to attract new customers for an organization than to retain the existing customers i.e., more resources are spent for attracting  new customers. Therefore, retaining old customers is as important as attracting new customers.

Equity value refers to objective assessment of the market offering utility based on perception relative to the costs incurred. 

Both 1 and 2 are the right answers. Positioning in the target market is strengthened by making it smaller as well as homogeneous.

Basic marketing refers to a sales person simply selling a product. 

CNN channel refers to competence brand personality. 

Maslow gave the theory of motivation and defined needs into major categories of physiological needs, social needs, safety needs, esteem needs and self actualisation needs.

Starbucks falls under the category of concentrated targeting as it pursued a single segment of customers who drank gourmet-coffee.

Personality falls under the psychographic pattern of segmentation. 

Organisational size falls in the macrosegmentation of the industrial market . Hence, it is a right answer.

Undifferentiated targeting is when no segments are formed and the whole market is pursued as one. Sugar is a commodity product which is used by all. Hence, it falls under this category where segmentation is not required.

Purchase behaviour falls under the behavioural criteria of segmentation. 

Modified rebuy falls under the category of buy class under the microsegmentation criteria of industrial market segmentation. 

Reduced market entry barriers increase market attractiveness. 

A price sensitive market segment hinders market attractiveness. 

Barrier to market segment entry is one of the market factors used for evaluation and does not fall under the category of competitive factor of evaluation. Hence, it is the right answer.