Marketing Ch. 1-5
The SWOT analysis is typically conducted during which step in the marketing planning process?
conducting a situation analysis
Facebook Groups allows users who have similar interests to interact and form a community. What effect does this represent?
connected effect
What is one of the core practices among value-oriented marketers?
constantly measuring the benefits that customers receive against the costs of offerings
Dell has several blogs. Its flagship blog is Direct2Dell, which is a _______ blog.
corporate
What type of blogs are central to their digital marketing efforts?
corporate blogs
product
creating value
Hilton Hotels is recognized as an industry leader for exemplary customer service and has continued to add new ways to serve customers better than its competitors. In doing so, the hotel chain has focused on sustaining its competitive advantage through ________ excellence.
customer
A business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty among the firm's most valued customers is known as
customer relationship management
A ________ is a measuring system that quantifies a trend, dynamic, or characteristic and is used by marketers to help explain why things happened and also to predict the future.
metric
A local ice cream shop is known for poor customer service and an unclean, dirty environment. These factors would be classified as ________ in a SWOT analysis.
weakness
Which digital marketing outlet would fall under the category of a "thought-sharing site"?
American Express Open Forum
When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in ________ marketing.
B2B
Websites like Poshmark, where people can buy or sell new or used clothing to other consumers, is an example of ________ marketing.
C2C
Brian wants to establish a two-way dialogue with the customers to educate them and solicit ideas from them.
Corporate Blog
Rita's firm wants to create excitement by providing company updates, photos, and videos to carefully targeted fans.
Which marketing metric might be used to evaluate the performance of a company's implementation of its marketing plan?
GM (gross margin)
Dylan wants to run a promotional contest in which the customers with the most store check-ins in a 90-day period will win the free merchandise.
Gamified app
Jonas is a small- business owner who wants to network with other professionals in his market.
Which scenario illustrates how marketing has a direct impact on consumers?
Marketing helps consumers learn about new products and services.
How does a microblog differ from a personal blog?
Microblogs allow people to share their thoughts, opinions, and feelings with the entire world, while personal blogs are created by and usually for individuals.
Jorge owns a chain of coffee shops and is looking for new ways to create customer excitement at the point of sale.
Mobile apps
A person who wishes to fulfill the need for "me time" would most likely download which app?
Netflix
According to your text, what can be said regarding the use of social media in advertising?
Only 20 percent of the world's population uses Facebook—which means 80 percent still has not signed up.
Lakeisha wants to allow her customers to create videos of how they use her firm's products and upload those videos to her own company channel/
Youtube
Judy's Hair Salon provides haircuts and hair color treatments, and also sells various shampoo and conditioners. Judy's Hair Salon, therefore, provides
both goods and services
price
capturing value
One advantage of using Facebook is that it gives Dell the ability to
carefully target different segments
According to the BCG matrix, which type of product typically has excess resources, which can be used to support other products that need additional resources?
cash cows
Companies must deliver more value and satisfaction to target consumers than its competitors to gain a
competitive advantage
When a firm considers its overall objectives and considers the type of business it is in, it is engaged in which step of the marketing planning process?
defining the mission
Marketing is the activity, set of institutions, and processes that create, capture, communicate, and _______ value.
deliver
place
delivering value
A person who has downloaded the Flipboard app on his or her smartphone to get full-screen magazines, multiple news and entertainment sources, entertainment, local news, and business news is attempting to fulfill which motivation for using a mobile application?
discovery
Which growth strategy is being used when a firm introduces a new product or service to a market segment that is currently not served by the firm?
diversification
A struggling company determined that it would close down divisions that were in low-growth markets that had relatively low market shares. According to the BCG product portfolio analysis, this company was identifying divisions in the ________ category for closure.
dogs
Once consumers arrive at GE's social media sites, GE must _____ them about its value proposition and related benefits.
educate
In the 4E framework, Dell understands the importance of _______, which leads to action, the potential for a relationship, and possibly even loyalty and commitment.
engagement
A core aspect of marketing involves a(n) ________, which is a transaction in which things of value are traded by buyers and sellers.
exchange
GE Healthymagination uses Facebook, which is a social networking site. Social networking sites are ideally stimulating which of the four Es in the 4E framework?
excitement
Red Letter Days encourages Facebook and Twitter followers to post pictures with their mothers and tell why she deserves a day off and a chance to win a free lunch at a top London restaurant. In doing so, the restaurant is focusing on which aspect of the 4E framework?
exciting
Being able to download a chapter of a new book before buying it or trying out a software option for a month before purchasing are examples of which aspect of the 4E framework?
experience the product or service
Which of the following is GE using in the Healthymagination social media campaign?
facebook, twitter, moblie apps, youtube
Samsung's Galaxy S10 smartphone is an example of which type of marketing offering?
goods
A group that sponsors bike helmet poster contests for children to promote bicycle safety is providing which marketing offering?
ideas
What is one of the major considerations involved when a company develops its marketing strategy?
identification of target markets
After a firm has conducted a SWOT analysis, it would typically progress to the next step of marketing planning, which is ________ and involves using STP (segmentation, targeting, and positioning).
identifying and evaluating opportunities
When a game or app prompts users to make purchases to enhance the app or game, it is referred to as a(n)
in-app purchase
A service is different from a good in that the benefit is
intangible
The company that you work for, Fast Rockets, wants to analyze data that come from other sites, such as measuring where people have come from to get to Fast Rocket's site. What would you recommend that your company use to determine how people searched the Internet to find its products?
keyword analysis
Which of the following does Dell use in its social media strategy?
linkedIn, blogs, facebook, twitter,
One advantage for Dell in using blogs is ______ to customers while engaging in conversation that builds better relationships.
listening
In an attempt to increase sales, JCPenney has increased its advertising and sales promotions in its current markets, hoping to attract new customers and get existing customers in the doors. Which growth strategy is JCPenney employing?
market penetration
Toyota marketed its RAV4 hybrid model to a distinct segment of consumers as an adventurous, sporty hybrid that stands out as being uniquely different from other hybrid models. This is an example o
market positioning
Delta Airlines recognizes that there are different groups of travelers with different needs, wants, and characteristics in their choice of airline transportation. The process of dividing Delta's market into these various groups is
market segmentation
Shampoo manufacturers understand that consumers have different needs when it comes to what type of shampoo they use, such as for curly hair, two-in-one ease of use, or color protection. Knowing that, shampoo manufacturers have divided the market based on these various needs and developed shampoos to accommodate each group. By doing so, these shampoo manufacturers are involved in
market segmentation.
During what era did firms discover marketing?
market- oriented era
Jewel-Osco grocery stores collects massive amounts of data about how, when, why, where, and what people buy, and then analyzes those data to better serve its customers. This refers to
marketing analytics
To evaluate the effectiveness or performance of a marketing strategy, firms typically use
marketing metrics.
The ________ consists of the product, price, place, and promotion of an offering.
marketing mix
A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected income statements is referred to as a(n)
marketing plan
The ________ addresses how a product will be designed, how much it should cost, how it will be promoted, and how it will get to consumers.
marketing plan
Although Taco Bell, Chipotle, and On the Border all strive to provide good Mexican food and service to their respective target markets, the difference in their choice of target market, design of their marketing mix, and the basis of their competitive advantage is directly related to their own
marketing strategy.
What should GE do as the final step in its Healthymagination social media marketing campaign?
monitor and change
During the last couple of decades, it has become important for value-oriented marketers to ________ with customers.
move toward a relational perspective from a transactional orientation
Understanding consumers' ________ is fundamental to marketing success.
needs and wants
When marketers strive to get their customers the merchandise they want, when they want it, in the required quantities, and at a lower delivered cost than that of their competitors, they are hoping to achieve a sustainable competitive advantage through ________ excellence.
operational
Coinstar uses the ________ element of the marketing mix when it makes its coin kiosks available for customers when and where they need them.
place
Which element of the marketing mix is involved when marketers make their offering available when and where the customer wants it?
place
Which marketing mix element deals specifically with retailing and marketing channel management?
place
What are the three major phases of a marketing plan?
planning, implementation, control
If managers at General Electric (GE) evaluated all the firms' various divisions and then decided to sell off its finance and healthcare divisions, it would be involved in
portfolio analysis.
Through which marketing mix variable do companies capture value from consumers, resulting in the generation of revenue?
price
Which marketing mix element corresponds to what the buyer gives up in the marketing exchange?
price
Which marketing mix variable is involved in the capture of value in the marketing exchange?
price
Apple creates value for consumers by developing a variety of offerings, such as its Apple Watch, Mac computers, and iPhones. In is doing so, Apple is focusing on which element of the four Ps?
product
Coca-Cola introduced four new flavors of its brand of Diet Coke, to exploit the growth opportunities for new products in current markets. This is an example of which growth strategy?
product development
What is one of the four major growth strategies marketers typically utilize?
product development
In China, the app Weixin allows users to send videos, photos, messages, web links, status updates, and news. This app meets people's need to
socialize
The ________ era embraced the belief that a good product would sell itself.
production-oriented
Marketers communicate the value proposition to their customers through a variety of media, such as television and the Internet. Which of the four Ps does this represent?
promotion
When marketers communicate the value proposition, it involves the ________ element of the marketing mix.
promotion
What two metrics are used in the BCG portfolio analysis to evaluate the various products of a firm?
relative market share and market growth rate
To get customers excited about a digital offer, the offer must be
relevant and aimed at a target audience
The goal of any exchange is that the parties to the transaction be
satisfied
When a toothpaste manufacturer divides the marketplace into smaller targets based on benefits sought by the consumer, this is an example of market ______.
segmentation bc its targeting after the marketplace is segmented
The dairy industry targets its "Milk Life" and "Body by Milk" campaigns to different market ________, including parents, their children, and athletes
segments
Aaron's company recently launched a campaign to promote a new product. It is Aaron's job to monitor customer feedback from various social media sources to see whether or not the new product is garnering favorable reviews. The technique for measuring this type of data is called ________ analysis.
sentiment
Dell analyzes data from social media to collect consumer comments about its products and company. Dell can then further analyze the data to distill customer attitudes and preferences. This technique is called
sentiment analysis
GE listens to its customers through various forms of social media. To analyze this content in terms of its favorableness or unfavorableness, GE can use a technique known as
sentiment analysis
Marketers analyze comments posted by consumers on sites such as Facebook, Twitter, and online blogs to assess the favorability or unfavorability about a company and its products in a process known as
sentiment analysis
Showrooming is associated with apps designed to fulfill which primary motivation?
shop
A national hotel chain engages in conversations with its customers through Facebook and even allows them to book their hotel reservations through its Facebook page. This is an example of marketing using
social media
Firms that are ________ recognize that including a strong social orientation in business is a sound strategy that is in the best interest of both the firm and its customers.
socially responsible
Starbucks Coffee's corporate structure involves three regional divisions: the Americas, China and Asia-Pacific, and Europe, Middle East, and Africa. These divisions of Starbucks are called
strategic business units.
A SWOT analysis involves an analysis of factors internal to the company, which include ________, as well as factors outside the company, which include ________.
strengths and weaknesses; opportunities and threats
A firm relies on a wide variety of vendors to make and distribute its products. Manufacturers buy raw materials from suppliers, use shipping companies to transport finished goods to multiple locations, and establish relationships with the retailers who sell them to consumers. Put all these businesses together and you have a
supply chain
When companies work collaboratively to buy and sell, transport, and store merchandise through a channel of distribution, it involves the entire ________ for goods and services.
supply chain
One way GE could use technology to increase access to its services and build customer connections would be to use
thought-sharing sites, social networking sites, moblie apps, media-sharing sites
Rather than being just a random activity, good marketing requires ________ in determining appropriate actions to produce sound decisions.
thoughtful planning
Through social media connections, marketers and customers share information by
uploading pictures, music, and videos