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Marketing Management Module

Good Essays

Check Your Understanding: 1. ________ is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives. Customer perceived value (CPV) is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives (Kotler & Keller, 2006, p. 177). 2. The 20-80 rule states _____. The well-known 20-80 rule says that the top 20 percent of the customers may generate as much as 80 percent of the company's profits. (Kotler & Keller, 2006, p. 184). 3. Formal groups having a direct influence on a person such as religious, professional, and trade union groups are _____. A person's …show more content…

What is the difference between biogenic needs and psychogenic needs? The biogenic (or primary) group of human needs are defined as those referring ' to the basic physiological needs which are related to the bodily functions such as hunger, thirst, sex, sleep, and exercise. The other general category of human needs are recognized as psychogenic needs - those needs which are psychological or emotional. A more complex categorization (or hierarchy) of human needs and attendant theory of their sequential development was proposed by MASLOW. Maslow’s hierarchy of needs is simply a ranked structure of behavioral stimuli that try to explain motivation. It is one of the Content Theories of motivation. Maslow describes BIOGENIC and PSYCHOGENIC needs. BIOGENIC needs – biological determinants of behavior. PSYCHOGENIC needs – emotional or psychological determinants of behavior. He described two “higher order needs.” Those are: The need for freedom of inquiry and expression: for social conditions permitting free speech and encouraging justice, fairness and honesty. The need for knowledge and understanding: to gain and order knowledge of the environment, to explore, learn and experiment. 4. Distinguish between "family of orientation" and "family of procreation." Children look at their family as a family of orientation because the family exists to develop, nurture and socialize them into contributing members of society. Once they are adults and have

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