Marketing midterm

________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Demographic

Which of the following is true with regard to media publics?

This group carries news, features, and editorial opinion

Government markets consist of government agencies that buy goods and services ________.

To produce public services

According to the five-step model of the marketing process, a company should ________ before designing a customer-driven marketing strategy.

Understand the marketplace and customer needs and wants.

Green Bees, a popular American heavy-metal band, will perform in Berlin during Christmas. There is a high demand for concert tickets among fans worldwide who are looking forward to the much-awaited performance. In this instance, the high demand for tickets for the Green Bees concert is representative of ________ demand.

Derived demand

Jeremy's, a handbag manufacturer in Lower Manhattan, procures a large stock of leather in anticipation of brisk sales of handbags during December. This is an example of a(n) ________ demand.

Derived demand

Greg Williams now has the buying power to purchase the desktop computer that he has wanted for the last six months. Greg's want now has become a(n) ________.

Demand

According to management guru Peter Drucker, "The aim of marketing is to ________."

Make selling unnecessary

Which of the following is NOT a market-oriented business definition?

"We make high-quality consumer food products"

An MIS is used to ________.

Assess information needs

Business markets are similar to consumer markets in that ________.

Both involve people who assume buying roles and make purchase decisions to satisfy needs.

According to the five-step model of the marketing process, which of the following is the final step in creating value for customers?

Building a profitable relationship and creating customer delight

According to the model of buyer behavior, which of the following is one of the two primary parts of a "buyer's black box"?

Buyer's decision process

A consumer organization in Ohio has challenged the marketing decision of a local firm alleging it to be against the larger social interest. In this instance, the firm is challenged by a(n) ________ public.

Citizen- action

________ is the most basic determinant of a person's wants and behavior.

Culture

The business marketer normally deals with ________ than the consumer marketer does.

Far FEWER but far LARGER buyers

Which of the following is an example of a convenience product?

Fast food

________ calls for dividing the market into regions, states, counties, cities, or even

Geographic

A(n) ________ consists of people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights.

Market information systems

When marketers at Fair & Leigh Inc. selected the Millennials, a demographic group that includes many college students, as an untapped group of potential customers for their new line of products, they were engaging in ________.

Market targeting

Dan has been directed to study the forces close to a company that affect its ability to serve its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. In this instance, Dan has been directed to study the ________ of the company.

Micromanagement

Which of the following is a significant challenge presented by the product life cycle?

New product development

Product improvements, product modifications, and original products can all be classified as ________.

New products

________ are industrial products

Office supplies

Marketing stimuli consist of the four Ps. Which of the following is NOT one of these?

Packaging

A particular firm added three new products earlier this year to increase variety for customers. Two of the products failed to reach the minimal sales quota. Which of the following is LEAST likely to have been the cause of their failure?

Product research was too extensive. Think back to the lecture with Ellen's video and how too much research made that, "pen for women."

Which of the following is true with regard to products?

Products include services, events, persons, places, organizations, ideas, or a mixture of these.

A mission statement serves as a ________.

Statement of the organization's goals and purpose

________ is the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities.

Strategic planning