Marketing Final

____ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs

Marketing Myopia

Asian Americans

_______ are the most affluent and brand conscious demographic segment in the Unites AStates

Consumerism

_______ is an organized movement of citizens and government agencies to improve the rights and power of buying in relation to sellers

Sustainabile

_______ marketing calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while also [perserving or enhancing the ability of future generations to meet their needs

Customer Equity

________ is the total combined customer lifetime values of all the company's current and potential customers.

Mission Statement

a statement of the organization's purpose - what it wants to accomplish in the larger environment

Societal Marketing

Cosmetic retailer Lush knows that doing what's right benefits both customers and the company. Their premium beauty products are made by hand from the freshest possible natural ingredients. This is an example of the _____ concept.

True

Deceptive packaging includes exaggerating package contents through subtle design and misleading labels

Mission Statement

A _____ is purposeful, specifying what an organization wants to accomplish in the larger enviorment

False

A companies customer value delivery network does not include members external to the organization.

Diversification

A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets

Market Segment

Ferrari sells only 2,200 off its very high performance cars in North America each year at very high prices. The company is appealing to a specific ____

Live the Brand

Imaginative Web sites, smartphone apps, and social media allow marketers to deliver messages that are direct and personal so consumers

opportunity

In a SWOT analysis, ______ refers to favorable factors or trends in the external environment that a company may be able to exploit to it's advantage.

Reorders something without any modifications

In a straight rebuy, a buyer ______.

True

In the marketing mix, [roducts includes the goods and services the company offers to the target market, while promotion includes advertising.

Dividing a market into several sections of customers is known as ________.

Market Segmentation

Societal Marketing

The ______ concept holds that firms must strive to deliver value to customers in a way that maintains or improves both the consumer's and society's well being

Product, price, place, and promotion

The major marketing mix tools are classified into four broad groups called the four P's of marketing. They are________

Generation Z

They are the wealthiest generation in U.S. hiSTORY

Segmantation

Traxx is a newly emerging shoe manufacturing company. After extensive market research, Traxx divides its market into professional athletes, "hobbyists" or ameturs players

The family

What is the most important consumer buying organization in society?

Demands

When backed by buying power, wants become _______

Generation Z

Which generational group consists of the kid, tween, and teen markets

Needs Recognition

Which of the following is the first stage of the buyer decision process?

need recognition

Which of the following is the first stage of the buyer decision process?

Word of Mouth influence

____ has the most powerful impact on consumer buying behavior

A market

____ is a set of actual an potential buyers of a product

Exchange

____ is the act of obtaining a desired object from someone by offering something in return

Wants

_______ are human needs as shaped by individual personality and culture

Trye

sUBcultures are groups of people with shared value systems based in common life experiences and situations