Chapter 13 - Marketing: Helping Buyers Buy

Any physical good, service, or idea that satisfies a want or need is a _________________

product

Target marketing is selection the groups or segments a business can serve __________

profitably

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

subculture

Which of the following are considered examples of geographic segmentation?

1) by region 2) by city 3) by states

The 4 P's

1. Product 2. Price 3. Place 4. Promotion

Promotion includes:

1.) Advertising 2.) Personal Sales 3.) Public Relations

Companies conduct market research on:

1.) Business trends 2.) ecological impact 3.) global trends

What are some of the methods of collection for primary data?

1.) Customer comments 2.) Observation 3.) Focus Groups

Why are B2B sales based on selling?

1.) Customers demand personal service for larger investments 2.) large purchases cost most and are complex

List the four steps of the marketing research process in order from first to last?

1.) Defining the questions 2.) Collecting research data 3.) Analyzing research data 4.) Choosing and implementing the best solution

The marketing process requieres three steps before developing the marketing mix. Rank the steps that come before the four Ps from the first step in the process to the third step:

1.) Find Opportunites 2.) Conduct Research 3.) Identify a target market

Which of the following are considered examples of demographic segmentation?

1.) Income 2.) Age 3.) Education

List the steps of the consumer decision-making process from first to last:

1.) Problem Recognition 2.) Information Search 3.) Alternative Evaluation 4.) Purchase Decision 5.) Postpurchase evaluation

The four factors in the marketing mix are:

1.) Product 2.) Price 3.) Place 4.) Promotion

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

1.) Production 2.) Promotion 3.) Distribution

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

1.) Production 2.) Sales 3.) Marketing Concept 4.) Customer Relationship

Brand Name

A word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors.

Give examples on how customers groups differ greatly

Age, education level, income, and taste

Product

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.

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

Attitudes & Interests

State governments will use marketing in order to:

Attract new business and tourism

The consumer market is made up of:

Individuals & Households

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

Intermediaries

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

Primary Data

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

Primary Data

Which of these are sources of primary data collection?

Surveys & Focus Group

When businesses developed mass-production techniques and capacity exceeded immediate demand, the:

The Selling Era Began

Marketing Mix

The ingredients that go into a marketing program: product, price, place, and promotion.

Test Marketing

The process of testing products among potential users.

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

scanning

Marketers should gather _______ data first because it is already available and to avoid incurring unnecessary expense.

secondary

Sociocultural, competitive, technological, global, and economic are the major influences in the marketing _______________.

environment

In customer relationship management, you do everything you can to satisfy customers, or even to __________ their expectations

exceed

One-to one marketing focuses on developing a unique mix of goods and services for each _____

individual

Changes in an individual's behavior resulting from previous experience is:

learning

The business-to-business market is:

made of all individuals and organizations that want goods and services for production, sales to others.

The production era philosophy was to produce as much as possible because the __________ was unlimited

market

Developing products and promotions to please large groups of people is ________ marketing.

mass

A word, letter or group of words or letters that differentiates one seller's goods and services from those of competitors is called the:

Brand Name

A small group of people who participate in a facilitated discussion about a company or its products is called a(n):

Focus Group

The B2B Market not only includes manufacturers, intermediaries and institutions but also _______________ at the federal, state and local levels.

Governments

Is a vital part of marketing which involves letting customers know the benefits of the product/service, where you can buy it, and describing the value proposition of the product/service.

Promotion

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

Relationship

Marketing __________ helps to identify what products customers have purchased in the past, current purchasing patterns, and future wants.

Research

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

Secondary Data

The segmentation technique that divides the market by the amount of a product used is:

Volume Segmentation

The key objective of the service orientation in the marketing concept is:

customer satisfaction

Focusing on profit allows an organization to serve and expand to serve more __________ wants and needs

customers

The consumer market consists of 70 million households, but there are fewer _________ in the B2B market of an industry like auto manufacturing.

customers

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

specifcations

the segmentation method that develops or finds products for small, but profitable market segments is:

Niche marketing

Whereas consumer promotions are based more on advertising, B2B sales are based on:

Personal Sellling

Promotion involves:

1.) Informing people about products 2.) motivating potential customers to buy

What are some of the industries that will benefit from the increase in the over 65 population?

1.) Recreation 2.) Prescription Drugs 3.) Nursing Homes

Choose the factors that are part of the technological enivornment

1.) Telecommunications 2.) Bar Codes 3.) Date Interchange

A product includes anything that would enhance it in the eyes of consumers, such as the:

1.) Warranty 2.) Package 3.) Brand

Developing an accurate description of your product and asking people if they like the idea is called:

Concept Testing

___________ is the set of values, attitudes, and ways of doing things passed from one generation to another in a given society

Culture

Marketers in the U.S. have changed their products to meet the tastes and preferences of which of the following groups which have increased in size?

Hispanics & Asians

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

A three-part business philosophy that involves a customer, service and profit orientation is the

Marketing Concept

Dividing the market into groups whose members have similar characteristics is:

Marketing Segmentation

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

benefit