Isom Chp 11
Which of the following can be defined as "services"? (Select all that apply)
-doggie day care -dry cleaning -a physical examination
Select the three variables that are part of psychographic segmentation.
-motives -personality -lifestyles
Which four elements make up the marketing mix?
-product -price -promotion -distribution
Which three terms accurately describe primary data?
-recorded -observed directly -collected directly
Marketing focuses on a complex set of activities that must be performed to accomplish objectives and generate exchanges. These activities include ______. (select all that apply)
-selling -researching -risk taking
By the _____, some businesspeople began to recognize that efficient production and extensive promotion did not guarantee sales and the marketing era was born.
1950's
value
A customer's subjective assessment of benefits relative to costs in determining the worth of a product
United Mechanics sells nuts, bolts, and other fittings to companies that manufacture lawn mowers and tractors that are ultimately sold to consumers. This is an example of ______ marketing.
B2B
buying
Everyone who shops for products (consumers, stores, businesses, governments) decides whether and what to buy. A marketer must understand buyers' needs and desires to determine what products to make available.
A watch manufacturer makes high-end watches and markets them to high income professional businessmen. The price of its watches range from $2,000 to $20,000. Because of this, the company only advertises in niche market publications that cater to this audience. In this scenario, identify what the central focus should be for this company's marketing activities.
High-income professional businessmen
Intermediaries most likely assist with which four activities?
Materials handling Inventory control Warehousing Transporting
Which of the following are social factors that influence how, why, and when a consumer may buy a product or service?
Reference group Culture Social class
Promotion includes which of the following? (Select all that apply)
Sales promotion Publicity Advertising Personal selling
Which two terms best describe the process of gathering market research about potential customers that will help guide marketing decisions?
Systematic Objective
transporting
Transporting is the process of moving products from the seller to the buyer. Marketers focus on transportation costs and services.
market
a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas
Target Market
a more specific group of consumers on whose needs and wants a company focuses its marketing efforts
production orientation
a philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace
marketing strategy
a plan of action for developing, pricing, distributing, and promoting products.
In the first half of the 20th century, business people who adopted the sales orientation perspective believed the most important marketing activities were personal selling and ______.
advertising
Characteristically, digital advertising ______. (Select all that apply)
allows companies to directly interact with its customers is often less expensive than traditional advertising caters to both large and small companies
Knowledge and the positive or negative feelings a person has about something is referred to as
attitude
This psychological factor is defined as knowledge and positive or negative feelings a person has about something.
attitude
Motivation is an inner drive that directs a person's toward goals.
behavior
segmentation involves some characteristic of the consumers' behavior toward the product.
behavior
Characteristics that commonly involve some aspect of product use is _____ segmentation.
behavioristic
The goal of a market orientation is to ______.
build long term customer relationships
The decision processes and actions of people who purchase and use products is referred to as behavior.
buying
_____ behavior is the decision process and actions of people who purchase and use products.
buying
Tyrone needs a new laptop. He knows how much he can afford, but rather than just purchase impulsively, he is in the process of researching different models and asking his friends for their recommendations. Marketers would consider this to be Tyrone's ______.
buying behavior
Functions of Marketing
buying, selling, transporting, storing, grading, financing, marketing research, risk taking
Marketing Research
by gathering information regularly, marketers can detect new trends and changes in consumer tastes
When segmenting a market, a approach is used when a company develops one marketing strategy for a single market segment.
concentration
A manufacturer of educational toys for children ages 2 to 4 wants to develop a marketing strategy to focus on just this segment. Which market segmentation approach would the firm most likely use?
concentration approach
The idea behind the marketing concept is that ______ will lead to a business achieving its goals.
customer satisfaction
Segmenting facial products by sex, age, and race is an example of _____ segmentation.
demographic
A marketing strategy has two major components: selecting a target market, and ______.
developing an appropriate marketing mix
_____ is making products available in the quantities desired.
distribution
All of the following factors can be used to segment a market by psychographic factors EXCEPT ______.
education
In marketing terms, when you pay the cashier money for the items you purchase at a store, it is an example of a(n) _____.
exchange
When businesses give up their goods, services, or ideas for money supplied by customers, a voluntary relationship has been created.
exchange
Political, legal, regulatory, social, competitive, economic, and technological factors are all _______ forces that influence the development of marketing strategies.
external
True or false: If a business wants to achieve its objectives, it simply needs to create an innovative product.
false
True or false: Products are manufactured for either B2B markets or B2C markets, but never geared towards both.
false
For which function of marketing does this statement describe: For many products, especially large items such as automobiles, refrigerators, and new homes, the marketer arranges credit to expedite the purchase.
financing
Westwood Furniture Store realizes that many of its customers buy several pieces of furniture at one time and may not have immediate cash to pay for the purchase. Therefore, Westwood offers credit services where customers can pay for their purchase over time. To entice customers to shop Westwood also offers "no money down" and "no interest" options. This relates to the ______ function of marketing.
financing
Twitter, Facebook, and LinkedIn are often good substitutes for ______.
focus groups
Dividing a market by cities, counties, states, or regions is an example of using variables for market segmentation.
geographic
Instead of selling your product throughout the United States, you might concentrate on one or two regions. This is an example of _____ segmentation.
georgraphic
When men's dress shirts are divided and separated by size as well as color and brand name, it can be said that they are being ______.
graded
_____ is the standardizing of products by dividing them into subgroups and displaying and labeling them.
grading
Customer relationship management
helps marketers listen to customer feedback in order to respond to their needs and wants and work toward building a long term relationship
Marketers of _____ include political parties, churches, and schools.
ideas
Customer Relationship Management (CRM)
important in a market orientation because it can result in loyal and profitable customers
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
Marketing
is a group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services and ideas
Rashmi always used to shop at a particular clothing store. However, the last two times she shopped there, the staff was rude and they didn't have much stock on hand. Consequently, Rashmi is trying out new stores to shop at. Which psychological factor is at play in this scenario?
learning
This psychological factor is defined as the act of bringing about changes in a person's behavior based on information and experience.
learning
storing
like transporting, storing is part of the physical distribution of products and includes warehousing goods
A _____ orientation requires that an organization like Jani's Cakes and Pastries gather information about its customers' needs, share the information, and use it to help build long-term relationships.
market
A is a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas.
market
Which orientation is best described as first determining what customers want and then produce it, rather than making the products first and then trying to persuade customers that they need them.
market orientation
A company has a product that is geared toward 18-21 year-old women, who are all college students. This group would be considered a(n) ______ segment.
market segment
Dividing the market into groups whose members have similar characteristics is ______.
market segmentation
Financing
marketer arranges cred it expedite the purchase
A(n) _____ strategy is a plan of action for developing, pricing, distributing, and promoting products.
marketing
Online surveys are becoming an important part of research. Traditionally, the process of conducting surveys online involved sending questionnaires to respondents either through email or through a website.
marketing
The factors that go into a marketing program—product, price, distribution, and promotion—are called the mix.
marketing
The idea that a business or organization should try to satisfy customers' needs through activities that also allow it to achieve its own goals is known as the
marketing concept
B2C
marketing product directly to the end consumer
B2B Marketing
marketing products to customers who will use the product for resale or in the making of other products
A systematic, objective process of getting information about potential customers to guide marketing decisions is the definition of ______.
marketing research
Marketing _____ is a systematic, objective process of gathering information about potential customers.
marketing research
Which marketing activity helps businesses gather information to compete effectively?
marketing research
a total market approach is also referred to as
mass marketing
This psychological factor is defined as an inner drive that directs a person's behavior toward goals.
motivation
Joe's Taco cart, which has always sold 100 percent pure beef tacos, develops three new taco varieties for the growing group of vegetarian students who come by daily. Joe still advertises his beef tacos but has also developed a mini-campaign to pitch the veggie tacos. Joe is using a(n) _____ market segmentation approach.
multisegment
When a UPS store targets consumers for shipping products around the holidays, but targets businesses for everyday shipping needs, it is using a(n) ______ approach.
multisegment
Alicia and Marjorie were hired to be undercover visitors at a new restaurant in town. While there, the women took notes on the type of service they received, the menu offerings, and the quality of the food. They presented their findings to the restaurant owner. Alicia and Marjorie were working as ______.
mystery shopper
A company manufactures an underwater camera that can be used specifically for deep sea diving. Which marketing approach would this company most likely use?
niche marketing
The segmentation method that develops or finds products for small, well-defined market segments is ______.
niche marketing
Which of the following best describes the concentration segmentation approach?
one marketing strategy for a single market segment
This psychological factor is the process by which a person selects, organizes, and interprets information received from his or her sense, as when experiencing an advertisement or touching a product to better understand it.
perception
_____ is the process by which a person selects and interprets information through senses about the quality of new towels or features of a new computer.
perception
Although research is inconclusive, some marketers feel that the type of clothing one wears or the type of car one drives is directly related to which psychological factor?
personality
This psychological factor refers to the organization of an individual's distinguishing character traits, attitudes, or habits.
personality
Distribution is sometimes referred to as in the marketing mix.
place
Because it relates directly to the generation of revenue, ______ is considered a key element of the marketing mix.
price
Since it represents the measure of value used in an exchange, ______ is the marketing mix element that is the basis of most market exchanges.
price
Which of the following is least likely to be part of promotion?
pricing
Telephone surveys and mystery shoppers are two methods of gathering _____ data.
primary
Any physical good, service, or idea that satisfies a want or need is a(n) .
product
Automobile companies truly seem to be listening to customers who are environmentally concerned by offering more fuel-efficient cars. Companies are adjusting the ______ factor of the marketing mix.
product
New technologies such as electricity and railroads allowed the ______ orientation to flourish by allowing goods to be manufactured with increased efficiency.
production
_____ is a persuasive form of communication that attempts to expedite a marketing exchange by influencing individuals, groups, and organizations to accept goods, services, and ideas.
promotion
Dividing the market using a group's personality characteristics, motives, and lifestyles is _____ segmentation.
psychographic
Which of the following is not a typical marketing task of an organization?
purchasing a product or service
Digital communication has increased the ability of marketers to conduct polls on blogs and social networking sites. What are the benefits of online market research? (select all that apply)
quicker feedback lower cost
Dewayne's family, his National Society of Black Engineers of America professional group, and the Rotary organization to which he belongs are _____ groups that may influence his buying decisions.
reference
Groups with whom buyers identify and whose values or attitudes they adopt are referred to as _______ groups.
reference
Customer_________ management systems help marketers listen to customer feedback in order to respond to their needs and wants and work toward building a long-term relationship.
relationship
Market Orientation
requires organizations to gather information about customer needs, share that information throughout the entire firm, and use it to help build long-term relationships with customers
After a period of intense demand and production of goods, supply began to exceed demand. Business people realized that they would have to make a concerted effort to sell products and began advertising. This describes the ______ orientation.
sales orientation
After a period of intense demand and production of goods, supply began to exceed demand. Businesspeople realized that they would have to make a concerted effort to sell products and began advertising. This describes the ______ orientation.
sales orientation
Today some people still inaccurately equate marketing with a _______ orientation.
sales orientation
The process of dividing the total market into groups whose members have similar characteristics is market .
segmentation
Marketers expedite the exchange process by using promotion activities to persuade a customer to purchase a product. This is the essence of which function of marketing?
selling
What do marketers usually view as a persuasive marketing activity accomplished through promotion?
selling
A(n) is the application of human and mechanical efforts to people or objects to provide intangible benefits to customers.
service
A good outcome from using networks is the opportunity to reach new voices and gain varied perspectives on the creative process of developing new products and promotions.
social
In the United States, people are often referred to as being part of the upper, middle, or lower class. These groupings signify ______ classes.
social
University student, mother, and sister are examples of roles that influence buying behavior.
social
Grading
standardizing products by dividing them into subgroups and displaying and labeling them so that consumers clearly understand their nature and quality
A more specific group of consumers on whose needs and wants a company focuses its marketing efforts is referred to as a(n) market.
target market
American Girl manufactures dolls for young girls between the ages of 3 and 12. This specific group of consumers is the company's market.
target market
exchange
the act of giving up one thing (money, credit, labor, goods) in return for something else (goods, services, or ideas)
Sales Orientation
the belief that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits
Selling
the exchange process is expedited through selling
marketing concept
the idea that an organization should try to satisfy customers' needs through coordinated activities that also allow it to achieve its own goals
In defining its target market, sellers of salt, sugar, and flour most likely use a _____.
total market approach
True or false: A marketer must understand the needs of the buyer in order to determine what products to make available.
true
True or false: Time utility has to do with selling an item or service in a timely manner and relates to the storing function of marketing.
true
A customer's subjective assessment of what they receive relative to costs in determining the worth of an item is referred to as ______.
value
Customer benefits subtracted by customer costs = customer _____.
value
Interactive multimedia research is also known as .
virtual testing
_____ combines sight, sound, and animation to facilitate testing of concepts as well as packaging and design features.
virtual testing
In the United States ______ are the largest market segment.
women
