Business chapter 13

A small group of people who meet under the direction of a discussion leader to communicate their opinions about a product is a ______group.

Focus

The segmentation method that develops or fines products for small, but profitable market segment is:

Niche marketing

A physical good, service, or idea that satisfies a want or need is called a(n):

Product

Problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation are the steps in the:

consumer decision-making process

Theindividuals or households that want goods and services for personal consumption or use, and have the resources to buy them are part of the:

consumer market

When considering where to locate its stores, which of the following factors does Dunkin donuts consider most important?

convenience for customers

The set of values, attitudes, and ways of doing things transmitted from one generation to another is

culture

The part of the marketing concept that focuses on finding out what consumers want and giving it to them is a (n) _______orientation.

customer

Dividing the market by age, income. and education level is______ segmentation.

demographic

Socialcultural, competitive, technological, global, and economic are the major influences in the marketing______.

environment

Shifts in the US population have created new challenges for marketers as they adjust their products to meet the tastes and preferences of the growing number of:

ethnic groups

In clean consumer relationship management, you do everything you can to satisfy customers, or even to_______ their expectations.

exceed

True or False: Data that you gather yourself, instead of from published journals books or online is called secondary data

false

True or False: The process of dividing the total market into groups with similar characteristics is called targeting market.

false

People over 65 have become one of the_______ growing segments of the US population.

fastest

In order to be highly successful, a company must have

good marketing efforts

One-to-one marketing focuses on developing a unique mix of goods and services for each______ customer.

individual

The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is called_______.

marketing

True or False: Helping buyers by also helps the seller sell.

true

What are the 4 PS of marketing?

product, price, place, promotion

Marketing started with companies selling whatever they produced without considering customer needs. this was called the _____ era of marketing.

production

Letting customers know the benefits of the product or service, where to buy it, and describing its value proposition are all considered activities involved in______.

promotion

Dunkin donuts relies on which type of marketing?

relationship

Marketers should gather_______ data first because it is already available and to avoid incurring unnecessary expenses.

secondary

Information that has already been complied by others and published in your nose, books, or online is called:

secondary data

When production capacity exceeded the immediate market demand, the business philosophy changed from the production era to the______era.

selling

Business use product______ to guide rational buying choices and look at the total product offer.

specifications

When values, attitudes, and ways of doing things results from belonging to a specific ethnic, racial, or other group that one identifies closely with it is termed a

subculture

Within the marketing environment, computers, telecommunications, barcodes, data interchange, and internet changes are all considered:

technological factors

The the function of an intermediary is to assist with getting the product:

to the customer when and where they wanted

Choose the secondary sources of data collection from the list.

- government publications -magazines

Nonprofits need to use marketing to :

- increase awareness of their causes -raise funds to meet their objectives

A focus group is a group of people who meet under the direction of a discussion leader and:

-Express their opinions about an organization or product -offer suggestions about corporate investment opportunities -Express their concerns about specific issues

Promotion involves:

-Informing customers of products available to them - motivating potential customers to buy

Studying the thought processes people used to make buying decisions and the factors that influence their choices is _______ behavior.

consumer

Age, education level, income, and taste are all examples of how consumer groups:

differ greatly

The techniques that this pizza business is using makes one believe that they are trying to

differentiate their product

Companies that are unavailable to change their production era marketing methods:

do not evolve to more effective customer relationships

Compared to the 125 million or so households in the United States consumer market, there are:

do you work customers in the B2B market

The B2B market not only includes manufacturers, intermediaries, and institutions, but also_________ at the federal, state, and local levels.

government

If one product is more expensive than another product, the customer usually believe that the product

is better quality

The factors that go into a marketing program: produce, price, place, and promotion, are called the_______ mix.

marketing

In the 1950s, a philosophy emerge where a business recognized the need to be responsive to cunsumers if they wanted to get their business. does philosophy is referred to as the:

marketing concept

_______ provides companies with an opportunity to observe people interacting with one another, expressing their own opinions, forming relationships, and commenting on various goods and services.

online communities

The cost of producing, distributing and promoting the product will all influence the products:

price

Using ads that feature celebrities from shows in specific generation, such as millennials, watch and like would be_____ segmentation.

psychographic

The goal of ______ marketing is to keep individual customers over time by offering them new products that exactly meet their requirements.

relationship

Companies conduct market research on:

-business trends -global trends -ecological impact of decisions

Which of the following are considered examples of geographic segmentation?

-by States -by region -by City

Why are B2B sales based on personal selling?

-large purchases cost more and are complex - customers demand personal service for larger investments

State use marketing to attract many groups. choose two main groups from the list that states try to attract:

-tourists -new business

Which marketing activity helps businesses gather information to compete effectively?

market research

Using the same product and promotions to appeal to large groups of people is:

mass marketing

In order to gather additional in-depth information needed for businesses decisions, marketers must do their own research by gathering:

primary data

Telephone surveys, online surveys, mail surveys, and personal interviews are the most common forms of gathering:

primary data

Target marketing is selecting the groups or segments a business can serve_______.

profitably

A vital component of marketing is _______, which involves letting customers know the benefit of the product/service, where you can buy it, and describing the value proposition of the product/service.

promotion

Colleges are now using podcasts, virtual tours, live chats, and other interactive technologies to make on camp this visits less necessary. this is an example of a trend in marketing that helps:

purchasers buy

Promotions often involve building________ with your customers by responding to suggestions consumers make.

relationships

Environmental _______ is the process of identifying factors that can affect marketing success.

scanning

The new mobile on-demand marketing era uses_______ technologies

search

The process of having potential users actually try your new product is called _______ marketing.

test

Product, price, and promotion are the four pieces of the marketing mix and are often called:

the 4Ps

Marketers use age, educational level, income, and taste to _______ markets.

segment

Marketers use age, educational level, income, and taste to________ markets.

segment

During the production era it was believed that one should produce as much as you can, because:

there is a limitless market for the product

True or false: Intermediaries are the middle links in a series of organizations that distribute goods from producers to consumers.

true

Identify some of the factors used to divide the market in psychographic segmentation.

attitudes interest

Dividing the market based on specific features of the product that will appeal to different groups is_______ segmentation.

benefit

A word, letter, or group of words or letters that differentiates one sellers good from those of a competitor is a _____ name.

brand

Changes in an individual's behavior resulting from previous experiences and information is______

learning

Intermediaries May assist with moving product from producers to consumers. this affects what factor in the marketing mix?

place

Dunkin donuts uses which pricing strategy?

value

Dividing the market by the amount of a product used is_______ segmentation.

volume

True or False: Concept testing involves asking people if your product idea appeals to them.

True

A market that consists of all the individuals and organizations that want goods and services to use in producing other goods and services is called the:

business-to-business market