Chapter 13

With marketing research, marketers analyze markets to determine ______.

Opportunities and challenges

Which statement is accurate regarding people over the age of 65?

They are one of the fastest-growing segments of the U.S. population.

Marketing is the activities, sets of institutions, and processes that add ______ for customers.

Value

When marketers adapt their products by offering less expensive products that are tailored to consumers with modest incomes, they are paying close attention to:

economic factors

The consumer market is made up of:

individuals and households

Using the same products and promotions to appeal to large groups of people is ______.

mass marketing

Changes in the economy force marketers to adjust _________ and adapt their products to take into account consumers' income.

pricing

A(n) ______ is any physical good, service, or idea that satisfies a want or need, plus anything that would enhance the product in the eyes of consumers, such as the brand name.

product

The first era in marketing was a focus on producing as much as possible because of high demand. This was termed the_____________ era which was followed by the selling era, the marketing concept era and finally the customer relationship era..

production

The belief that companies should produce as much as they can because there is limitless market for products was the philosophy during the:

production era

Existing data is called ________ data since you aren't the first one to gather the data.

secondary

Brick and mortar retailers must pay attention to the dynamic competitive environment mainly because of competition from:

the internet

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

If a student majors in marketing, which career options will be available?

-Public Relations -Retail store manager -advertising

Instead of selling your product throughout the United States, you might concentrate on one or two regions. This is an example of which type of segmentation?

geographic

Getting products to consumers when and where they are wanted is critical to market success. Many times it is the responsibility of ______.

intermediaries

Companies use technological changes such as consumer databases, blogs, and social networking in order to develop products that ______.

meet consumer needs

When a company finds a small but profitable market segment and designs products just for them, the company is engaged in ______.

niche marketing

Information that has already been compiled by others and published in journals, books, or online is called:

secondary data

Sociocultural, competitive, economic, global, and technological influences are all factors influencing ______.

the marketing environment

When setting price, a company must consider many factors including the costs of:

-promotion -distribution -production

Which marketing activity helps businesses gather information to compete effectively?

market research

Select the technological innovations that companies can use to develop products and services that match consumers' wants and needs more effectively.

-social media -data bases -blogs

Rank order the different eras of marketing by putting the earliest at the top to the most recent at the bottom.

1. Production 2. Selling 3. Marketing concept 4. Customer relationship

The B2B market includes:

- institutions - government - manufacturers

States use marketing to attract many groups. Choose the two main groups from the list that states try to attract.

-New businesses -Tourists

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

differ greatly

The activities buyers and sellers perform to facilitate mutually satisfying exchanges is

business

Studying the thought processes people use to make buying decisions and the factors that influence their choices is the study of ______ behavior.

consumer

The individuals 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

Which of the following are considered examples of geographic segmentation?

-by region -by states -by city

Marketers must pay attention to the dynamic competitive environment because:

-change is occurring more rapidly -the Internet gives consumers information instantly

Pick out the influences in the marketing environment.

-global -economic -competitive

Promotion involves:

-informing people about products -motivating potential customers to buy

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

The factors that go into a marketing program: product, price, place, and promotion, are called the _________ mix.

marketing

These people perform many of the activities required to move products efficiently from producers to consumers or industrial buyers and are often wholesalers or retailers.

Intermediaries