Marketing unit 1

Which of the following is the best description of the marketing mix: A combination of the four elements of marketing A method of determining what a marketer wants to achieve A strategy that serves as a guide An element of marketing that puts a product in the right place at the right time

A combination of the four elements of marketing. A combination of the four elements of marketing yields the marketing mix. Place is one element of the marketing mix. It involves putting a product in the right place at the right time. Goals or objectives are what marketers want to achieve. A strategy is a plan of action for achieving goals and objectives.

Which of the following is an example of advertising: A commercial for a new product runs on TV. A new store opens in your town. A chef develops a new dish for her restaurant. A sporting goods store starts to get more business.

A commercial for a new product runs on TV. Advertising is any paid form of nonpersonal presentation of ideas, images, goods, or services. A commercial for a new product running on TV is an example of advertising. Although a new store opening and a chef developing a new recipe are not examples of advertising, they could be advertised. A sporting goods store may get more business as a result of advertising.

Which of the following is an example of digital marketing: A company runs a commercial on television. A restaurant places a coupon in a local newspaper. A company posts an offer on a social media network. A business sends fliers through the mail.

A company posts an offer on a social media network. Digital marketers find ways to promote their products and attract customers digitally—whether that's online, on social media, on their phones, or using another aspect of digital technology. Newspaper coupons, sending fliers in the mail, and television commercials are all examples of marketing, but not digital marketing.

Marketers plan where they need to go and how to get there efficiently in order to achieve satisfying connections. measure their success. lay out their strategies. agree upon a goal.

Achieve satisfying connections. Agreeing upon a goal, laying out their strategies, and measuring their success are steps marketers take toward reaching their ultimate aim of providing satisfying connections between producers and customers.

A product being in great demand is a factor that might encourage businesses to gather information. adjust prices. contact competitors. decrease inventory.

Adjust prices. Deciding on a product's price is not always easy. Businesses must consider many factors, some of which encourage businesses to adjust prices. For example, if a product is in great demand, businesses might increase the price because customers are willing to pay the price to obtain the product. If a product is in great demand, a business would increase inventory to increase sales. Businesses do not contact competitors about prices. By gathering information, a business might learn that a product is in great demand.

What marketing career involves catching customers' attention, informing them of products, and persuading them to buy? Public relations Advertising Marketing research Product management

Advertising. Advertisers use a variety of media to catch customers' attention, inform them of products, and persuade them to buy. Some of these media are the Internet, radio, television, newspapers, magazines, billboards, and catalogs. Marketing researchers are responsible for determining what customers need and want, and why customers do what they do. Product managers create, test, and decide how a product will be packaged. They direct and coordinate all aspects of the product. Public relations professionals strive to build and maintain positive relationships with the public by anticipating problems, handling complaints, communicating with the media, and building a positive public image for the company.

What trait is the most important for marketers who work in marketing operations? Creativity Analytical skills Tech skills Communication skills

Analytical skills. Marketing operations is based less on creativity and more on analysis, data, and research. Because of this, analytical skills are extremely important for market researchers. Creativity, communication skills, and tech skills are certainly helpful in most marketing careers, but they aren't the most important trait for marketing-operations professionals.

What are salespeople expected to be able to do in order to sell goods and services to customers? Arrange displays Develop brochures Answer questions Control expenses

Answer questions. Professional salespeople are expected to be able to answer questions and provide further information in order to sell goods and services to customers. To do this successfully, they must be experts in the goods or services they sell and be able to develop long-term relationships with customers. Salespeople are not expected to develop brochures, although they may use them as a selling tool. Salespeople do not need to control expenses in order to sell. Arranging displays is the responsibility of the visual merchandising department.

Which of the following things might a marketer do to achieve the company's pricing objective of raising the product's value in the customer's eye: Order more of the product Ask a higher price for the product Lower the product's price Decide how to package the product

Ask a higher price for the product. Marketers can raise a product's value in the customer's eye by raising the price. Lowering the product's price would not necessarily raise the product's value. Deciding how to package the product and ordering more of the product are not tasks in the pricing element.

The purpose of communicating with customers is to attract customers' interest. befriend customers. determine prices. gather participants for a survey.

Attract customers' interest. The purpose of communicating with customers is to attract customers' interest. Gathering survey participants and determining prices are part of marketing research and pricing, respectively. Befriending customers could be a part of personal selling.

To buy a product, customers in a market must first be willing to buy the product. make sure the product is on sale. locate the product in a store. learn the product's features.

Be willing to buy the product. When customers buy a product, they must first have the need or desire, the resources, and the willingness to buy the product. Locating the product in a store, learning about its features—and even making sure that it is on sale—can produce a pleasant purchase experience, but they are not requirements for buying a product.

In the marketing concept, whose point of view matters most? Seller's Marketer's Buyer's Planner's

Buyer's. The buyer's point of view matters most because the marketing concept says that the customer's point of view is the starting point for marketing decision making. The seller's, marketer's, and planner's points of view can be distinctly different from the buyer's and are not used to begin the marketing process.

When examining a market, marketers primarily notice its merchants. records. leaders. categories.

Categories. Marketers look at markets to divide them into groups or categories according to what customers have in common. Merchants, market leaders, and records have little to do with finding categories.

Which of the following marketing functions enables businesses to have their products in the right place at the right time: Channel management Selling Risk management Promotion

Channel management. Channel management involves identifying, selecting, monitoring, and evaluating sales channels. This function enables businesses to have their products in the right place at the right time. Promotion involves communicating information about goods, services, images, and/or ideas to achieve a desired outcome. Selling involves determining client needs and wants and responding through planned, personalized communication that influences purchase decisions and enhances future business opportunities. Risk management is not a marketing function.

The marketing function that is responsible for the flow of goods or services from the producer to the customer is channel management. purchasing. product/service management. selling.

Channel management. Channel management is responsible for the flow of goods or services from the producer to the customer via sales channels, also known as channels of distribution. Effective channel management enables products to be in the right places at the right times. Purchasing is an operations function that involves the planning and procedures necessary to obtain goods and services for use in the operation of the business or for resale. Product/Service management involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities. Selling involves determining client needs and wants and responding through planned, personalized communication that influences purchase decisions and enhances future business opportunities.

Which marketing function involves determining where products will be sold? Selling Channel management Promotion Servicing

Channel management. This function is responsible for identifying, selecting, monitoring, and evaluating sales channels. This includes determining where products will be sold. The selling function involves determining customer wants and needs and responding through planned, personalized communication that influences purchase decisions and enhances future business opportunities. The primary goal of the promotion function is to communicate information about goods, services, images, and/or ideas to achieve a desired outcome. Servicing involves the maintenance, repair, or replacement of defective parts of a product after it has been sold.

Of the following, which is a durable good: Hamburger Lip balm Insect repellent Coffee mug

Coffee mug. Of the list, the coffee mug is the only durable (lasting) good. The other options—insect repellent, hamburger, and lip balm—are each used up (consumed) rather quickly.

Which of the following is a marketing activity: Leading a project team Communicating with customers Balancing customer needs with wants Lowering operational expenses

Communicating with customers. Communicating with customers is a marketing activity, along with planning how to carry out the marketing process, finding out about customers, offering the products customers want, determining how much to charge for the products, and putting products where they need to be. Marketing does not balance customer needs with wants. Instead, it strives to satisfy customer needs and wants. A marketer may lead a project team, but it does not occur exclusively in marketing. Lowering operational expenses is not a specific marketing activity.

Which of the following is the most common reason for businesses to search for ways to make their products better and cheaper: Publicity Service marketing E-commerce Competition

Competition. Marketing encourages competition among businesses. Consequently, businesses consistently search for ways to make their products better and cheaper than their competitors'. Publicity is any nonpersonal presentation of ideas, goods, or services that is not paid for by the company or individual that benefits from or is harmed by it. E-commerce is the buying and selling of goods online. Service marketing involves providing services, which are intangible activities performed by other people for money, to satisfy needs and wants.

What marketing career focuses on keeping customers coming back? Marketing operations Product/Brand management Customer service Public relations

Customer service. Although most marketing focuses on bringing new customers in the door, customer service keeps them coming back. This is not the focus of public relations, marketing operations, or product/brand management.

Which of the following influences the process of determining price: Purchase location Publicity Sales promotion Customers' perception of value

Customers' perception of value. When determining price, marketers should consider their customers' perception of value, as well as the business's objectives, so that the buyers and sellers both receive the best value. Purchase location does not have a direct effect on pricing; instead, it is a part of channel management. Publicity and sales promotion are both aspects of communicating with customers and are not directly related to pricing.

Marketing links producers to distributors. retailers. customers. marketers.

Customers. Even though marketing involves distributors, retailers, and marketers, marketing links producers to customers through the marketing activities (planning, pricing, promoting, distributing). Marketing joins those who make products to those who buy them.

The community college has decided to market its evening classes to women between the ages of 18 and 30 who are high school graduates. What type of segmentation is the college using? Psychographic Geographic Demographic Behavioral

Demographic. Demographic segmentation is the division of a market on the basis of its social and physical characteristics. These include such characteristics as income, age, gender or sexual orientation, educational level, life stage, and occupation. Geographic segmentation groups consumers according to where they are located. Lifestyles and personalities of consumers are used as the basis for psychographic segmentation. Dividing consumers into groups according to their response to a product is behavioral segmentation.

Sorting customers by their physical and social characteristics is called __________ segmentation. behavioral statistical psychographic demographic

Demographic. Sorting customers by their physical and social characteristics is called demographic segmentation. Psychographic and behavioral segmentation are about sorting customers by their lifestyles and responses. Statistical segmentation is not a marketing term.

An effective marketing-information management function enables marketers to determine the price of a good or service. select suppliers for products. determine what products customers want. create demand for a good or service.

Determine what products customers want. Marketing-information management is a marketing function that involves gathering, accessing, synthesizing, evaluating, and disseminating information for use in making business decisions. It helps businesses to make the right goods/services available to satisfy customer needs and wants. The pricing function determines and adjusts prices to maximize return and meet customers' perceptions of value. Purchasing involves selecting a supplier and ordering products, but it is not a marketing function. Selling involves responding to customer needs and wants through planned, personalized communications intended to influence purchase decisions and enhance future business opportunities.

Which of the following activities is an aspect of marketing a service: Developing a new, improved cell phone Advertising the state of Michigan on television Determining how much to charge for a haircut Finding out customers' favorite coffee flavors

Determining how much to charge for a haircut. While finding out about customers, offering a new, improved product, and advertising on television are all forms of marketing, only determining how much to charge for a haircut is an aspect of marketing a service. A service is an intangible activity that is performed by someone else for money. A haircut is a service. Cell phones and coffee are goods, and the state of Michigan is a place.

If a company wants to market its product to a targeted group of consumers and get specific, measurable results, it should consider using direct marketing. a deep product mix. digital marketing. product/service management.

Direct marketing. When marketers want to get a specific, measurable action from a targeted group of consumers, they use direct marketing. For example, a company may run an online advertisement that asks viewers of relevant websites to click on their link. Or, a pizza place might send out a coupon to new residents in the area. Although direct marketing and digital marketing can overlap, this is not necessarily a duty of digital marketing. Product/Service management involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities. A deep product mix offers a great many items in the product line.

Today's customers are not influenced by mass marketing alone because they are more decisive. determined. disciplined. discerning.

Discerning. Today's customers may be more determined, decisive, or disciplined—but it is their increased discernment that is related to the fact that they are not influenced by mass marketing alone.

Without marketing, producers and customers would be exposed to many new and improved products. highly dependent on advertising agencies. in close communication with each other. disconnected from each other.

Disconnected from each other. Without marketing, our nation would have difficulty connecting producers with customers. They would not be in close communication with each other; instead, they wouldn't even know where to find each other. Advertising agencies would not exist if marketing didn't exist. If marketing did not exist, businesses would make few improvements to existing products, and very few new products would be developed.

Sawyer is a marketer who is planning his strategy. He most likely wants to choose a route that is reasonable. straight. easy. efficient.

Efficient. To reach their goal, marketers plan the route they believe to be efficient. A reasonable route is a road that may take the marketer to his/her goal, but it may not be the best option. An easy route may not require much effort, but it may not return a successful outcome, either. A straight route may seem direct, but it may not speed the marketer's way. For example, a construction project might slow down an otherwise straight journey. An easy route may take the marketer way off course. And selecting a reasonable, or satisfactory, route implies the navigator applied a half-hearted effort.

How can Tracy make sure that her marketing campaigns support her company's goals? Engage in market planning Select the right channels Speak with customers Use pricing strategies

Engage in market planning. Market planning helps organizations strategize to align marketing tactics with goals. Tracy can use planning activities to make sure that the actions she takes are working toward an organizational goal. Selecting the right channels, using pricing strategies, or speaking with customers will not necessarily help Tracy create marketing campaigns that align with the company's goals.

When using mass marketing, marketers seek to appeal to the __________ market. loyal entire teen local

Entire. Mass marketing involves the entire market—not local, loyal, or teen customers, in particular.

Marketing is described as creating gaps. exchanges. advertisements. needs.

Exchanges. Marketing is described as creating exchanges—or encouraging trade by providing opportunities. Regarding the other options, marketing satisfies needs, uses advertisements, and bridges the gap between producers and customers.

According to the marketing concept, which option demonstrates customer orientation? Researching a firm's competitors Convincing a buyer to buy Advertising the features of a product Finding out what a buyer wants

Finding out what a buyer wants. According to the marketing concept, customer orientation is finding out what a buyer wants and providing it for him/her. Convincing a buyer to buy could be part of the selling process. Researching a firm's competitors could be part of the planning process. And advertising the features of a product could be part of promotion.

There are many activities in marketing that are interrelated and similar in purpose. These activities are referred to as marketing strategies. functions. responsibilities. tactics.

Functions. Marketing functions are interrelated activities that must work together to get goods and services from producers to consumers. If any one of the marketing functions is not doing its job, the other functions are affected. Marketing responsibilities are the different kinds of work carried out by marketers. Marketing tactics are the specific actions used to carry out marketing strategies. Marketing strategies are plans of action for achieving marketing goals and objectives.

Which of the following is the most likely obstacle for a marketer to encounter: Government regulations might change. A social media campaign might succeed. A competitor might create an inferior product Profits might increase.

Government regulations might change. Changing government regulations may be obstacles that marketers encounter. A successful social media campaign, increasing profits, and a competitor creating an inferior product are not obstacles.

A target market can be described as the sample of the market. direction the market is headed. group of customers the business seeks to attract. way a business draws its customers.

Group of customers the business seeks to attract. Though a target market may seem to be a sample of the market, it is actually the particular group of customers the business seeks to attract. Knowing the market's direction is helpful to any marketer. And, a discussion of the way a business draws its customers falls under marketing promotion.

What type of duties do customer service professionals often perform? Handling complaints Paying invoices Receiving shipments Preparing ads

Handling complaints. Customer service professionals perform a variety of duties and can work in different areas of a company. One of their main duties often is handling customer complaints in order to maintain customer confidence and loyalty. Since their jobs usually focus on daily interaction with people, customer service professionals must have strong interpersonal skills. The accounting department pays invoices. The receiving department receives shipments. The advertising department prepares ads.

How does the marketing function of selling benefit society? Determines to whom to sell Helps to increase employment Creates a relationship with customers Affects demand for a good or service

Helps to increase employment. When sales are good, employment rates also tend to be good. This is a benefit to society. Selling benefits businesses by creating relationships with customers and affecting demand. Determining to whom to sell is a marketing-information management activity that benefits the business.

Which of the following items cannot be marketed: Hawaii Hopefulness Holiday Health

Hopefulness. Most things can be marketed—including goods (durable and nondurable), services, organizations, places, ideas, and people. Included are holidays, health, and Hawaii. However, since hopefulness is an optimistic state of mind, it is not likely that it can be marketed.

A firm's strategy is important because it shows how its prices will be lowered. how its tactics will be organized. how its goal will be reached. how its marketing mix will be blended.

How its goal will be reached. Although the strategy may involve lowering prices or organizing the tactics, a firm's strategy is important because it shows how its goal will be reached. The marketing mix is blended after the strategy is selected.

To select the best strategy available to them, marketers should consider how to get their product into more customers' hands. when they want promotional messages delivered to customers. how the marketing concept applies to their situation. resources needed to research and develop their product.

How the marketing concept applies to their situation. Marketers can use a number of different options to reach their goals and objectives. To select the best strategy available to them, marketers consider how the marketing concept applies to their situation, when they want to reach their goal, and which resources are on hand. After determining their marketing strategy, marketers may consider how to get their product into more customers' hands (an aspect of the price element of the marketing mix), resources needed to research and develop their product (an aspect of the product element), and when they want promotional messages delivered to customers (an aspect of the promotion element).

For the strategy of conducting customer surveys, with tactics including contacting customers and tabulating survey results, which of the following is the goal: Improving this year's sales training results by 7% over last year's results Improving this year's telemarketing skills by 7% over last year's skills Improving this year's proposal-writing by 7% over last year's writing Improving this year's customer satisfaction by 7% over last year's ratings

Improving this year's customer satisfaction by 7% over last year's ratings. The strategy of conducting customer surveys supports the goal of improving this year's customer satisfaction ratings. It does not support improving sales training results, which is about making sure the company's salespeople are performing their roles appropriately. It does not support improving telemarketing skills, either, because telemarketing skills belong to the caller—not to the customers who are surveyed. In addition, it does not support improving proposal writing because, of course, the writers are not customers.

Service marketers have a tough job because they have to market products that are unnecessary. intangible. tangible. nonexistent.

Intangible. Service marketers market services, which are intangible—they can't be touched, seen, smelled, heard, or tasted. Tangible products are those that can be touched, seen, smelled, heard, or tasted. These products are not unnecessary or nonexistent.

Of the following, which is a strategy for the goal of increasing this year's website sales by 9% over last year's sales? Including the web address in advertising Printing the web address on company business cards Putting the web address on company vehicles Letting people know the web address

Letting people know the web address. A strategy for the goal of increasing this year's website sales is letting people know the web address. Printing the web address on company business cards, including the web address in advertising, and putting the web address on company vehicles are all tactics that support the strategy.

The customer characteristic that reflects where customers fit in the day-to-day buying routine is known as personal belief. socioeconomic status. origin or heritage. life stage.

Life stage. Though socioeconomic status, origin/heritage, and personal belief all affect customer purchases, it is life stage (where the customer is in his or her life) that determines how s/he fits into the day-to-day buying routine.. Though socioeconomic status, origin/heritage, and personal belief all affect customer purchases, it is life stage (where the customer is in his or her life) that determines how s/he fits into the day-to-day buying routine.

When marketers sort customers psychographically, they divide them by loyalty to a brand. level of education. likable traits. lifestyle habits

Lifestyle habits. When marketers sort customers psychographically, they divide them by lifestyle habits. Likeable traits are the positive aspects of their personalities—thus, a portion of another psychographic segmentation element. Level of education is a characteristic of demographic segmentation. Loyalty to a brand is examined during behavioral segmentation.

Overall, what does marketing allow us to do? Stop buying online Limit our spending Live our daily lives Feel better about shopping

Live our daily lives. Overall, marketing allows us to live our daily lives since marketing is involved in almost everything we do. Feeling better about shopping could be a positive side effect of marketing. Limiting our spending and not buying online anymore are negative responses which may or may not have anything to do with marketing.

Geographic segmentation is dividing a market by where customers are born. living. working. educated.

Living. Geographic segmentation is dividing a market by where customers are living. Customers may or may not have been born and educated where they currently live. Also, they may or may not work in the same area in which they live, as demonstrated by those who live near a state border and work in the next state.

According to the marketing concept, keeping company goals in mind means making product prices low. putting marketing second to other company goals. maintaining the firm's purpose. containing marketing costs.

Maintaining the firm's purpose. According to the marketing concept, keeping company goals in mind means maintaining the firm's purpose. Making product prices low and containing marketing costs could conflict with the firm's direction and/or the customers' needs. Putting marketing second to other company goals deviates from the marketing concept.

The marketing function that includes creating strategies to attract the target customer to a business is market planning. marketing-information management. pricing. channel management.

Market planning. Market planning aims to create strategies to attract the target customer to a business. Marketing planning includes determining activities, goals, objectives, and procedures necessary to carry out those strategies. Pricing is determining and adjusting prices to maximize return and meet customers' perceptions of value. Marketing-information management involves gathering, accessing, synthesizing, evaluating, and disseminating information. Channel management involves identifying, selecting, monitoring, and evaluating sales channels, also known as channels of distribution.

Ryan is working with his marketing team to set goals and create a budget for the upcoming year. Which marketing function is Ryan performing? Product/Service management Pricing Selling Market planning

Market planning. Market planning aims to create strategies to attract the target customer to a business. Marketing planning includes determining activities, goals, objectives, and procedures necessary to carry out those strategies. This includes setting marketing goals and creating a marketing budget. Selling involves determining client needs and wants and responding through planned, personalized communication that influences purchase decisions and enhances future business opportunities. Product/Service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities. Pricing determines and adjusts what customers pay for products to maximize returns and meet customers' perceptions of value.

The Thompson Company decided it would be more successful if it divided the total market for its products into smaller, more specific groups of consumers. This business is engaged in market domination. market segmentation. industrial marketing. mass marketing.

Market segmentation. Rather than trying to direct marketing activities toward the whole market, marketers plan their activities for specific, well-defined groups of consumers. They tailor their product, price, place, and promotion activities to the segments with which they wish to work. With mass marketing, sellers design products that will appeal to most buyers and direct marketing activities to the whole market. Industrial marketing is marketing to customers who purchase items for use in the operation of a business, for resale, or for making other goods. Market domination targets the entire market instead of a segment.

Liza has always wanted a horse, and she has finally saved enough money to buy one very soon. In marketing terms, Liza is a... market. resource. market segment. target group.

Market. A market is a customer or potential customer who has an unfulfilled desire and is financially able and willing to satisfy that desire. Liza is a market because she not only wants a horse but also has the money to buy one very soon. A resource is an item that is used to produce goods and services. A target group is a particular segment of the market. A market segment is one of the groups into which the total market is divided.

At Jamilah's job she focuses on all marketing functions, including channel management, marketing-information management, pricing, product/service management, promotion, and selling. What marketing career does Jamilah have? Digital marketing Service marketing Marketing management Public relations

Marketing management. Marketing management focuses on all marketing functions, including channel management, marketing-information management, pricing, product/service management, promotion, and selling. People who work in public relations, service marketing, and digital marketing typically do not focus on every marketing function.

At Marcella's company, she's in charge of figuring out what customers need and want, and why they do what they do. What marketing career does Marcella have? Marketing research Public relations Customer service Digital marketing

Marketing research. Market researchers are in charge of figuring out what customers need and want, and why they do what they do. Marketing research jobs focus on marketing activities that involve determining information needs; designing data-collection processes; collecting data; analyzing data; presenting data; organizing focus groups, product tests, and surveys; and using data for marketing planning. This is not part of public relations, customer service, or digital marketing.

Identify the marketing function in the following situation: While shopping at the mall, Susan is asked her opinion of different brands of shampoo. Specialty advertising Marketing-information management Behavioral segmentation Promotion

Marketing-information management. Gathering information through surveys is an example of the marketing-information management function. Specialty advertising is categorized as "other media" such as pens and calendars embossed with a company's name. Behavioral segmentation is the division of a market on the basis of customers' responses to a product. Promotion communicates information about goods, services, images, and/or ideas to achieve a desired outcome.

Gathering, accessing, synthesizing, evaluating, and disseminating data for use in making business decisions is the responsibility of... market planning. product development. marketing-information management. product/service management.

Marketing-information management. This function is necessary to ensure that products are meeting the needs and wants of consumers. Product/Service management involves obtaining, developing, maintaining, and improving a product mix in response to market opportunities. Market planning is creating strategies to attract the target customer to a business. Gathering, accessing, synthesizing, evaluating, and disseminating data might help businesses develop products.

When sellers offer one-size-fits-all products that will appeal to most buyers, they are using mass marketing. demographic segmentation. mass production. market segmentation.

Mass marketing. The goal of mass marketing is to appeal to many types of consumers through one marketing plan. Mass production is the production of a few items in large quantities. Market segmentation is the division of a total market into smaller, more specific groups. Demographic segmentation is the division of a market on the basis of its physical and social characteristics.

At Raul's job, he is in charge of keeping up with trends, analyzing sales, negotiating with vendors, and predicting what will sell in the future. Raul likely works in digital marketing. market research. public relations. merchandising/buying.

Merchandising/Buying. Merchandisers and buyers are responsible for picking out the merchandise you see in stores and online catalogs. They have to keep up with trends, analyze sales, negotiate with vendors, and predict what will sell in the future. These are not job duties in public relations, market research, or digital marketing.

Jackie is interested in predicting what special events result in higher demand for chocolate candy. She should conduct behavioral segmentation based on rate of use. benefits derived. occasion response. loyalty response.

Occasion response. Dividing customers into groups based on their response to a product is behavioral segmentation. Customers are grouped into categories according to what they are looking for in a product and why they buy the product. By studying the occasion responses of customers (when they purchase a product, especially for an event such as a wedding, birthday, graduation, etc.), marketers can predict what special events result in demand for products. Segmentation on the basis of usage rate classifies customers as heavy, moderate, light, or nonusers of a product. Customers can also be classified based on the benefits they desire from a product or the devotion and loyalty they feel for a product.

If a marketer changes one marketing mix element, s/he should expect that the __________ will also change. product quality goal other elements strategy

Other elements. Since the marketing mix functions as a unit—and the mix elements are interrelated—marketers know that changing one marketing mix element affects the others. The strategy is determined before the marketing mix is developed. The goal is determined before the strategy. Changing a marketing-mix element does not necessarily affect product quality.

Which of the following is a method used to communicate with customers: Customer orientation Marketing concept Manufacturing Personal selling

Personal selling. Personal selling, advertising, publicity, and sales promotion are methods used to communicate with customers. Manufacturing involves changing the shapes or forms of materials so that they will be useful to consumers. Customer orientation is an element of the marketing concept that involves doing things the customer's way. The marketing concept is a philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying customer wants and needs while achieving company goals.

Diana is deciding how much of a product to order and which firms to involve in the process. She is working on the __________ element of the marketing mix. price place product promotion

Place. The place element involves getting a selected product in the right place at the right time. Part of this includes deciding how much of a product to order and which firms to involve in the process. The other options are the other elements of the marketing mix.

What provides the basis for all marketing goals and actions? Pricing Retailing Budgeting Planning

Planning. The marketing plan is the basis for all marketing goals and actions. Pricing is a marketing activity, but it is not the basis for all marketing goals and actions. Budgeting includes setting the parameters for conducting the marketing actions, but it is subject to the marketer's goals. Retailing involves marketing but is not the basis for all marketing goals and actions.

What do public relations professionals strive to create for their companies? Positive image Strategic goals Artistic displays Excellent service

Positive image. Building a company's image is an important responsibility for public relations professionals. Their purpose is to build and maintain positive relationships with the public that will help create the desired image. Public relations professionals serve as advocates for their companies by helping create a positive image in the minds of the public. Public relations professionals are not involved in creating excellent service, artistic displays, or strategic goals.

Balancing value and satisfaction for the customer is part of which element of marketing? Place Product Price Promotion

Price. Balancing value and satisfaction for the customer is part of the price element—because marketers know listing a low price will not always attract the desired customer, but finding the best balance will. The other options are the other elements of the marketing mix.

Making both buyers and sellers feel they are getting good value is part of the __________ function of marketing. pricing purchasing financing promotion

Pricing. Pricing determines and adjusts what customers pay for products to maximize returns and meet customers' perceptions of value. Prices must be set so that both buyers and sellers feel that they are getting the most value. Purchasing is the planning and procedures necessary to obtain goods and services for use in the operation of a business. Promotion is the communication of information about goods, services, images, and/or ideas to achieve a desired outcome. Financing involves understanding the financial concepts used in making business decisions.

Which function of marketing determines how much gross profit a business will make on a good or service? Channel management Pricing Risk management Promotion

Pricing. This marketing function involves determining and adjusting prices to maximize return and meet customers' perceptions of value. Pricing includes setting an amount to charge a customer for a product, which usually is based on the item's cost, expenses, and desired profit. Communicating information about goods, services, images, and/or ideas to achieve a desired outcome is promotion. Risk management, which is not a marketing function, involves the planning, controlling, preventing, and procedures used by management to limit business loss. Channel management involves identifying, selecting, monitoring, and evaluating sales channels.

Kwacky Kwackers needs a new package design for its crackers. What marketing professional would be responsible for creating the new package? Channel management Marketing research Product management Advertising

Product management. Product managers create, test, and decide how a product will be packaged. They direct and coordinate all aspects of the product. Advertisers develop messages and images to catch customers' attention, inform them of products, and persuade them to buy. They use a variety of media to communicate with customers. Some of these media are the Internet, radio, television, newspapers, magazines, billboards, and catalogs. Marketing researchers are responsible for determining what customers need and want, and why customers do what they do. Channel management is the processes by which marketers ensure that products are distributed to customers efficiently and effectively.

Which marketing function involves creating the correct product mix for a business? Financing Product/Service management Marketing-information management Selling

Product/Service management. Product/Service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities. Selling is a marketing function which involves determining customer needs and wants and responding through planned, personalized communication that influences purchase decisions and enhances future business opportunities. Marketing-information management involves gathering, accessing, synthesizing, evaluating, and disseminating information for use in making business decisions. Financing involves understanding the financial concepts used in making business decisions

In what marketing activity do businesses engage to meet the wants and needs of consumers? Product/Service management Market planning Pricing Cost-benefit analysis

Product/Service management. This marketing function involves developing a product mix in response to market opportunities. Businesses try to determine what products consumers need or want to provide those products. Cost-benefit analysis is comparing the expense of an activity to the benefits received from the activity. Market planning is creating strategies to attract the target customer to a business. Pricing involves determining and adjusting prices to maximize return and meet customers' perceptions of value.

Which element of marketing refers to the various types of communication that marketers use to inform, persuade, or remind customers of their products? Place Product Promotion Price

Promotion. By definition, the promotion element refers to the various types of communication that marketers use to inform, persuade, or remind customers of their products. The other options are the other elements of the marketing mix.

Communicating information to consumers or clients about products, images, or ideas to achieve a desired outcome is the __________ function. purchasing promotion planning pricing

Promotion. Promotion is done through advertising, sales promotion, personal selling, and publicity. Pricing is determining the dollar amount to charge customers for goods and services. Purchasing is not a marketing function but a business activity that involves the planning and procedures necessary to obtain goods and services for use in the operation of a business or for resale. Planning involves strategizing what will be done and how it will be accomplished.

Identify the marketing function illustrated in the following situation: Martha wants a winter coat and sees a style she likes in a magazine advertisement. Promotion Purchasing Selling Pricing

Promotion. The example illustrates an advertising activity that is part of the promotion function. Selling is responding to customer needs and wants through planned, personalized communication that influences purchase decisions and enhances future business opportunities. Pricing involves determining and adjusting prices to maximize return and meet customers' perceptions of value. Purchasing is a business activity necessary to obtain goods and services for use in the operation of a business.

Which marketing function can remind customers of items that they want to purchase? Financing Promotion Pricing Product/Service management

Promotion. Through the use of promotional methods, such as visual merchandising, customers can be reminded of items that they want to purchase. Product/Service management enables businesspeople to decide what combination of goods or services the company will produce or provide. Financing involves understanding the financial concepts used in making business decisions. Pricing involves determining and adjusting prices to maximize return and meet customers' perceptions of value.

Which marketing career is usually in charge of writing press releases? Marketing operations Public relations Marketing research Customer service

Public relations. People in public relations are in charge of creating a good image for their business or organization. Part of this includes writing and sending out press releases. Marketers in marketing research, marketing operations, and customer service do not generally write press releases.

Which of the following is a tactic for the strategy of training customer-service staff to reach the goal of improving this year's customer service by 15% over last year's: Increasing customer benefits Scheduling customer-service training dates Improving the customer waiting area Offering customers a payment plan

Scheduling customer-service training dates. As a specific action supporting the strategy, the tactic for training customer-service staff is scheduling the customer-service training dates. Improving the customer waiting area, increasing customer benefits, and offering customers a payment plan are three strategies that might support a goal of increasing sales or enriching customer relations. However, they are not tactics for the listed strategy.

Mass marketing is not as precise as __________ marketing. direct segment promotional event

Segment. Mass marketing is not as precise as segment marketing. Event marketing and promotional marketing may involve segments or mass audiences. Direct marketing typically involves segments. But, segment marketing is more precise than marketing to the masses.

When the total market is divided, one of its groups is called a market slice. subdivision. segment. share.

Segment. When the total market is divided, one of its groups is called a market segment. Other words for segment might be share, slice, or subdivision. A market share is an organization's portion of the total industry sales in a specific market.

Before customizing the marketing mix, marketers should choose the vendors. pick the product. decide the price select the strategy

Select the strategy. Before customizing the marketing mix, marketers should select the strategy so that they have some direction for creating the blend. Deciding the price, choosing the vendors, and picking the product are all part of customizing the marketing mix.

The marketing function which involves the matching and satisfying of customer wants and needs with available goods or services is purchasing. prospecting. selling. market research.

Selling. Selling uses planned, personalized communications to influence purchase decisions. Purchasing involves the planning and procedures necessary to obtain goods and services for use in the operation of a business or for resale. Market research is the systematic gathering, recording, and analyzing of data about a specific problem. Prospecting is the process of identifying potential customers. Purchasing, prospecting, and market research are not marketing functions.

Hospitals, spas, and churches are examples of industrial markets. service marketing. non-store retailing. retailing.

Service marketing. Hospitals, spas, and churches provide intangible items that customers can't hold, touch, smell, see, or take with them. Hospitals and churches are not retailers. Industrial markets are those that purchase materials and goods for use in businesses or for resale.

Booking hotel rooms for vacationers is an example of __________ marketing. benefit feature service sport

Service. There are many career opportunities in service marketing. Service marketing is selling intangible items. Services are productive acts that satisfy wants and needs but cannot be tasted, felt, seen, heard, or smelled. Booking hotel rooms is an example of service marketing because it involves selling the use of a room for a period of time but not permanent ownership of the room. A feature is a fact or characteristic of a product. Sports are athletic activities. A benefit is an advantage customers receive from using a product.

Franklin is a marketer who selects what he thinks is the best strategy. What should he do next? Set aside the needed funds Determine the final deadline List the available resources Apply the marketing concept

Set aside the needed funds. Once marketers select what they think is the best strategy, they set aside or obtain the needed funds. Applying the marketing concept, determining the final deadline, and listing the available resources are considered while selecting the best strategy.

According to the marketing concept, which option shows company commitment? Setting aside funds to research what customers want Leaving marketing to the marketing department Teaching marketing to college marketing students Pricing a product to maximize profitability per item

Setting aside funds to research what customers want. Company commitment involves everyone in the organization embracing the marketing concept and putting customers' interests first. One way to demonstrate a commitment to the marketing concept is to set aside money to fund the research needed to develop a product according to customers' wishes. Leaving marketing to the marketing department prevents the rest of the company from being involved in marketing. Teaching marketing to college marketing students is honorable, but it does not demonstrate the marketing concept's theme of company commitment. Pricing a product to maximize profitability per item allows the company to earn as much money as it can, but customers may not be willing to purchase the product at that high of a price. Pricing a product to maximize profitability per item puts the company's interests before the customers', which goes against the marketing concept.

Marketers divide their markets by grouping customers according to their hobbies. differences. similarities. occupations.

Similarities. Marketers divide their markets by grouping customers according to their similarities—not their differences. Customers may be similar in their occupations or hobbies.

Market segmentation is about dividing the market into __________ groups. general age specific identical

Specific. Market segmentation is about dividing the marketing into specific groups. Though the customers in the specific groups will have similarities, they will not be identical. Dividing the market by age is just one form of market segmentation. But, the goal of market segmentation is to narrow the general market to its specific sub-groups.

Which of the following is an example of communicating with customers: Sponsoring a charity event Creating a new product Choosing a store to distribute products Developing a marketing plan

Sponsoring a charity event. Sponsorship is a common way to communicate with customers. Creating a new product, choosing a store to distribute products, and developing a marketing plan are elements of product/service management, channel management, and market planning, respectively. They are marketing activities but not directly related to communicating with the customer.

A goal can be evaluated to determine its success. advantage. progress. benefit.

Success. When evaluating a goal, marketers consider whether it can be measured for success or failure. Advantages or benefits are communicated to the customer during promotion. Progress is moving toward the goal.

The same person can be included in more than one religion. target market. income level. generation.

Target market. Marketers know that the same person can easily fit into more than one target market. However, the same person would have a difficult time being included in more than one religion, income level, or generation.

Marzetti's Musical Instruments has determined that it will focus its marketing efforts on senior high school students. Marzetti's is engaged in __________ marketing. industrial target risky mass

Target. The identification and selection of markets for a business or for a product is known as target marketing. For businesses to satisfy their customers, they need to determine who the market is for their products. Businesses use target marketing to plan effective marketing activities that will reduce marketing risk. Mass marketing is designing products and directing marketing activities to appeal to the whole market. An industrial market is composed of businesses that purchase items for use in the operation of the business, for resale, or for making other goods.

Which of the following traits are necessary in all marketing careers: Creativity and independence Teamwork and communication Persistence and math skills Math skills and graphic design

Teamwork and communication. Although all marketing careers require specific demands, there are some traits that they all require, including teamwork and communication. Math skills and graphic design may be helpful with certain marketing careers, but they aren't needed in all of them. Most marketing careers rely on teamwork, not independence.

Which of the following is an important characteristic of marketing tactics: The tactics should bring in enough money. The tactics should line up with marketing strategies. Which of the following is an important characteristic of marketing tactics: The tactics should focus on customers.

The tactics should line up with marketing strategies. Tactics may seem to focus on the customers or may happen to result in bringing in enough money. But, when marketers determine their tactics, they make sure their tactics line up with their strategies. The marketing mix supports the strategy for which the tactics are selected.

Which of the following describes careers in marketing: They are separate and distinct. They exist in very few industries. They only exist online. They often overlap and run together.

They often overlap and run together. Although marketing careers can generally be divided into several different areas, they often overlap and run together. They are not separate and distinct, they do not only exist online, and they exist in many different industries.

Which of the following is true of people who work in sales: Strong math skills are their most important trait. They can only find jobs in limited industries. To be successful, they need people skills. They typically sell products door-to-door.

To be successful, they need people skills. People skills are very important to salespeople. Whether they're talking to customers and prospects in person, on the phone, or online, salespeople must be able to communicate and listen. Salespeople can work in almost any industry, and selling products door-to-door is only a small part of the sales industry. Strong math skills are not the most important trait for a salesperson to possess.

Marketing encourages people from different countries to __________ frequently. trade travel think train

Trade. Since marketing creates exchanges between people and nations, it encourages people from different countries to trade frequently. Traveling, training, and thinking are reputable activities, but they are not specifically encouraged by marketing.

Which of the following questions might marketers ask when they are working on the product element of marketing: What media should be used to promote the product? What level of quality should be produced? How much should the product cost? Where should the product be sold?

What level of quality should be produced? In the product element of the marketing mix, marketers may ask themselves, "What level of quality should be produced?" "How much should the product cost?" is a question that would be asked in the price element. "Where should the product be sold?" is a question that would be asked in the place element. "What media should be used to promote the product?" is a question that should be asked in the promotion element.

To get a selected product in the right place at the right time, marketers often ask themselves which of the following questi ons: How should we package our product? What forms of payment should we accept? Should we offer a warranty for our product? Where should we make our product available?

Where should we make our product available? The place element of the marketing mix involves getting a selected product in the right place at the right time. When developing the place element, marketers must consider a number of factors, including where they should make their product available, which businesses to buy their product from, when to buy the product, how much of the product to order, how to process customer orders, which businesses to involve in the process, etc. "Should we offer a warranty for our product?" and "How should we package our product?" are questions that marketers should ask themselves when determining the product element of the marketing mix. "What forms of payment should we accept?" is a question that marketers must answer when developing the price element of the marketing mix.

In an overall sense, where does marketing occur? Wherever customers are Wherever advertisements are Wherever stores are Wherever businesses are

Wherever customers are. In an overall sense, marketing occurs wherever customers are. Advertisements, stores, and businesses are part of marketing and can be present when marketing occurs. But marketing occurs where customers live, work, study, recreate, etc.