Principles of Marketing Midterm
________ consists of inviting 6 to 10 people to meet with a trained moderator to talk about a product, service, or organization.
Focus group interviewing
Which of the following is true with regard to problems faced by international researchers?
Translation of questionnaires increases research costs and risks of error.
A gym equipment manufacturer encourages customers to become members of the firm's Web site. Membership provides customers with exercise tips as well as discounts on gym equipment and workout apparel. This is an example of ________.
a club marketing program
Which of the following companies has a market-oriented business definition?
a cosmetic company whose business definition is "we sell hope and self esteem"
Which of the following companies has a product-oriented business definition?
a shoe manufacturer, whose business definition is " we manufacture affordable and long lasting shoes for all"
A mission statement serves as a ________.
a statement of the organization's purpose
________ are ambassadors who enthusiastically share their passion for a company's products with large circles of friends and acquaintances.
brand evangelists
Which of the following functions is NOT part of managing the marketing process?
budgeting
Which of the following is NOT part of a company's decision about which customers it will serve and how?
budgeting
In the context of customer relationship groups, a potentially profitable and short-term customer is referred to as a ________.
butterfly
At Gina's retail stores, the posted policy reads, "Without our customers, we don't exist." Gina and her staff aim to delight each customer, and they are quick to offer discounts or extra services whenever a customer is anything less than satisfied. Gina and her staff strive to make every customer a repeat customer. It is most accurate to say that instead of focusing on each individual transaction, Gina and her staff put a priority on ________.
capturing customer lifetime value
The final step in the marketing process is ________.
capturing value from customers
Which of the following statements is true regarding competitive marketing intelligence?
competitive marketing intelligence relies upon publicly available information
When consumers are highly involved with the purchase of an expensive product and they perceive significant differences among brands, they most likely will exhibit ________.
complex buying behavior
Which of the following statements reflects the marketing concept?
consider customer focus and value as the paths to sales and profits
The buyer decision process consists of five stages. Which of the following is NOT one of these stages?
conspicuous consumption
The societal marketing concept seeks to establish a balance between ________.
consumer short run wants and consumer long run welfare
The ________ is the sum of the ongoing experiences consumers have with a brand that affect their buying behavior, engagement, and brand advocacy over time.
customer journey
"Losing a customer once means losing the entire stream of possible purchases that the customer would make over an extended period of patronage." This statement specifically indicates loss in terms of ________.
customer lifetime value
________ is the act of obtaining a desired object from someone by offering something in return.
exchange
Kinger Burgers came out with a new hamburger and, before including it on its main menu, released it in two different cities with two different prices. The marketers at Kinger Burgers then analyzed the different levels of purchase made at these two different places, planning to use the information to help them set a nationwide price for the new offering. This is an example of ________.
experimental research
Observation is best suited for ________ research.
exploratory
The first question in a questionnaire should be intentionally difficult and complicated in order to weed out uninterested respondents.
false
The marketing mix consists of people, property, planning, and position.
false
When segmenting by usage rate, markets can be segmented into nonusers, ex-users, potential users, first-time users, and regular users of a product.
false
With current technology systems, marketers find it simple to access and sift through the data that is gathered.
false
Which of the following is the aim of the product concept?
focus on making continuous product improvements
The BCG matrix approach is problematic in that it ________.
focuses solely on current businesses and provides little scope for future planning
Emerson Studios has designed its marketing organization along the lines of a ________ organization in which operational specialists head different marketing activities.
functional
________ segmentation has long been used in clothing, cosmetics, toiletries, and magazines.
gender
________ calls for dividing the market into regions, states, counties, cities, or even neighborhoods.
geographic segmentation
Which consumer group tends to show more brand loyalty and makes shopping a family event, with children having a big say in the purchase decision?
hispanic americans
Which of the following is an example of an open-ended question?
how is voting going to help the nation?
Maslow's theory is that ________ can be arranged in a hierarchy.
human needs
In which of the following situations has a company most actively embraced customer-managed relationships?
iRobot invites enthusiastic roomba owners to develop and share their own uses for the company's robotic vacuum cleaner
Happy Pets, a company manufacturing pet foods and accessories, created a membership club for its regular customers called "I Love My Pet." This group consists of animal lovers selected by the company to complete product-related polls, chat with product developers, and provide feedback about specific products. Which of the following best describes "I Love My Pet"?
immersion group
After a research instrument is selected, the next step in the marketing research process is to ________.
implement the research plan
Marketing control involves four steps including all the following EXCEPT ________.
increasing the staffing in the planning department
Marketers realize that their commercial sources ________ the buyer.
inform
Problems with internal databases include all of the following EXCEPT that ________.
information can be accessed more cheaply
Secondary data consist of ________.
information that already exists somewhere, having been collected for another purpose
Which of the following is true with regard to geographic organization?
it allows salespoeple to work with a minimum of travel time and cost
Which of the following is true of the BCG matrix approach?
it considers market growth rate to be a measure of market attractiveness
Paul Robinson has identified a group of potential customers who seem to respond in a similar way to a series of magazine and radio advertisements for his company's product. Paul has identified a ________.
market segment
Dividing the market into various groups of customers that a company may serve is called ________.
market segmentation
Apart from retaining good customers, most marketers want to constantly increase their "share of customer." What does this mean in marketing terms?
marketers want to increase the share they get of the customers purchasing in their product categories
Consumer research, product development, communication, distribution, pricing, and service are all core ________ activities.
marketing
________ refers to measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.
marketing control
________ refer(s) to meaningful sets of marketing performance measures in a single display used to monitor strategic marketing performance.
marketing dashboards
Which of the following is NOT an accurate description of modern marketing?
marketing emphasizes selling and advertising exclusively
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.
marketing information system
A ________ documents an organization's purpose-what it wants to accomplish in the larger environment.
mission statement
Which of the following is an element of the marketing mix?
place
The portion of the customer's purchasing that a company gets in its product categories is known as ________.
share of customer
________ are society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors.
social classes
Your state's department of education has budgeted a significant amount of money for a radio, print, television, and online advertising campaign emphasizing the long-term benefits, both educationally and professionally, of reading every day. This is an example of a(n) ________ campaign.
social marketing
Government agencies design ________ to encourage energy conservation and discourage smoking, excessive drinking, and drug use.
social marketing campaigns
Selecting which segments of a population to serve is called ________.
target marketing
For international researchers, language is a primary obstacle.
true
Market development involves company growth by identifying and developing new market segments for current company products.
true
Neuromarketing involves measuring brain activity to learn how consumers feel and respond.
true
Return on marketing investment refers to the net return from a marketing investment divided by the costs of the marketing investment.
true
The customer-driven marketing strategy involves four steps: market segmentation, market targeting, positioning, and differentiation.
true
Which of the following is true about customer relationship management (CRM)?
CRM aims to maximize customer loyalty.
Which of the following is true about secondary data?
It can be obtained more quickly and at a lower cost than primary data.
Which of the following is true with regard to marketing research?
Marketing research gives marketers insights into customer motivations.
Which of the following is a disadvantage of using secondary data?
Relevant secondary data can be difficult to locate.
The research plan should be presented in a written proposal. The proposal should include all of the following EXCEPT ________.
The predicted results
Which of the following is an advantage of telephone interviews?
The speed with which data is collected is high.
Challenges of managing big data include ________.
accessing and sifting through so much data
________ can be a poor predictor of a person's health, work or family status, needs, or buying power.
age
Costs are involved in obtaining, ________, storing, and delivering information.
analyzing
The fourth step in gathering insights into the marketplace and customers is ________.
analyzing and using marketing information
The technology that involves machines that think and learn like humans is known as
artificial intelligence
During portfolio analysis, a company ________ after identifying the key businesses that make up the company.
assesses the attractiveness of its various SBUs
A financial services firm has several loyal customers who conduct business with them exclusively. However, the company has noticed that this customer group is the least profitable for the company, and in some cases, it increases their losses when engaging in business with this group. Which of the following customer groups is being referred to in this scenario?
barnacles
Hank is an assistant marketing director for a firm in a market with many low-margin customers. What type of relationship with these customers would be the most profitable for him?
basic relationships
According to the five-step model of the marketing process, which of the following is the final step in creating value for customers?
capturing value from customers to create profit and customer equity
Experimental research is best suited for gathering ________ information.
causal
Elisandra, a marketing manager at a regional chain restaurant, has decided to organize a contest calling for customers to create commercials for the restaurant. Winning entries will be posted on the organization's home page. Elisandra's plan is an example of ________.
consumer generated marketing
Kao Corp., a deodorant manufacturer, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of ________.
consumer generated marketing
A marketer wants to increase its "share of customer." It can do this by offering a greater variety to customers, or by ________.
creating programs o cross sell and up sell to market more products and service to existing customers
Within a company, who is most likely to perform strategic planning?
cross functional teams of divisional managers close to their markets
________ are minor stimuli that determine where, when, and how a person responds to an idea.
cues
________ occurs when satisfied customers initiate favorable interactions with others about a brand.Q
customer brand advocacy
________ marketing is practiced by an organization that understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future needs.
customer driving
Which of the following terms refers to customers who make repeat purchases and tell others about their positive experiences with a product or service?
customer evangelists
The primary key to delivering customer satisfaction is to match product performance with ________.
customer expectations
More and more, companies are shifting their brand management focus from brand profitability toward ________.
customer management
FedEx offers its customers fast and reliable package delivery. When FedEx customers weigh these benefits against the monetary cost of using FedEx along with other costs of using the service, they are acting upon ________.
customer perceived value
Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called ________.
customer relationship management
Which of the following marketing strategies should marketing managers focus on to manage detailed information about individual customers and carefully manage customer touchpoints to maximize customer loyalty?
customer relationship management
All of the following steps pertain to the marketing control process EXCEPT ________.
defining the companys mission
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
Delta Motorworks markets its cars based on the age, gender, and income of its customers. Which of the following types of market segmentation is evident here?
demographic segmentation
Which of the following types of research would be best suited for understanding the attitudes of consumers who buy a particular brand of soft drink?
descriptive research
Marketing plays a key role in the company's strategic planning in all of these ways EXCEPT ________.
designing new products from scratch
An MIS user should most likely be able to ________.
develop customer insights
________ segments are conceptually distinguishable and respond differently to different marketing mix elements and programs.
differentiable
GamaPix makes point-and-shoot cameras and handycams for amateur photographers and hobbyists. It also has a separate line of cameras dedicated to professional photographers. Additionally, it designs separate offers for each segment. Which of the following marketing strategies does GamaPix most likely use in this instance?
differentiated marketing
________ involves actually distinguishing the firm's market offering to create superior customer value.
differentiation
For the past ten years, Bill and Margaret have saved money to go to the Super Bowl should their team, the Chicago Bears, reach the finals of the NFC championship. This is the year, and several tour companies offer attractive, but very similar, packages to the game. Since all packages are pretty much the same, they have chosen one that fits their budget. Bill and Margaret are most likely exhibiting ________.
dissonance reducing buying behavior
A women's apparel manufacturer in California recently acquired a Houston-based company that manufactures office furniture. This is an example of ________.
diversification
Amor, a successful brand of women's clothing, recently introduced a line of fitness equipment. This is an example of ________.
diversification
Double Drill Inc. segments its foreign markets by per capita income. This firm segments the international markets based on ________.
economic factors
When marketers set low expectations for a market offering, they run the risk of ________.
failing to attract enough customers
"At Trader Joe's, our mission is to provide all our customers the best food and beverage values to be found anywhere, and the information to make informed buying decisions." This is a product-oriented business definition.
false
A company's mission statement provides the depth needed for all segments of the company to reach their goals.
false
A mission statement is a document embodying an organization's short-term goals.
false
Benchmarking refers to the process that turns marketing plans into marketing actions to accomplish strategic marketing objectives.
false
Causal research involves sending observers to watch and interact with consumers in their natural environments.
false
Commercial sources of information typically legitimize and evaluate products for buyers.
false
Demographic segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product.
false
Firms that practice product differentiation gain competitive advantage through the way they design their channel's coverage, expertise, and performance.
false
Habitual buying behavior involves consumers searching extensively for information about brands and evaluating brand characteristics.
false
Intermarket segmentation refers to forming segments of consumers who have different needs and buying behaviors in a given geographical region.
false
Jim is planning on buying an expensive HDTV and he realizes that there are few differences between brands. Jim is displaying complex buying behavior.
false
Most major companies have now appointed a chief privacy officer (CPO), whose job is to safeguard the privacy of the companies in the international business environment.
false
On the BCG matrix, "question marks" are high-growth, high-share businesses or products.
false
One valid criticism of the four Ps concept of the marketing mix is that services are not considered.
false
Personal interviews can be used to collect large amounts of information at a low cost per respondent.
false
The term big data refers to the ________ generated by today's sophisticated information generation, collection, storage, and analysis technologies.
huge and complex data sets
Location-based targeting to consumers in local communities or neighborhoods using digital or social media is called ________.
hyperlocal social marketing
At a local farmers' market, Molly Malone sells mussels while shouting to passersby, "Fresh seafood, get your fresh seafood here!" What kind of perspective is Molly taking?
inside out
Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________.
internal value chaiin
Which of the following is the final step of the marketing research process?
interpreting and reporting the findings
A marketing research company asked members of a focus group to describe several brands as animals. The purpose of the request is to measure the prestige of the various brands. This is an example of ________.
interpretive consumer research
Which of the following statements is true of the selling concept?
it is typically practiced with unsought goods
Which of the following refers to a nonprobability sample in which the researcher uses his or her evaluation techniques to select population members who are good prospects for accurate information?
judgement sample
Some marketing decisions call for fast and agile marketing information and research known as ________.
just in time research
In the marketing mix, place includes ________.
logistics
Which of the following statements is true about creating customer loyalty and retention?
losing a customer means losing the entire stream of purchases that the customer would make over a lifetime of patronage
A seller pursues a basic relationship with what kind of customers?
many low margin customers
A(n) ________ is the set of actual and potential buyers of a product or service.
market
The managers of Alfredo's Pizza, a popular pizzeria in New York City, have been increasingly encouraging senior citizens to visit the pizzeria's numerous outlets spread across the city. Anticipating a rise in the population of senior citizens in the area, the management of Alfredo's Pizza is seeking to tap into this promising segment that consists of retired, affluent consumers. In this instance, the managers of Alfredo's Pizza are anticipating company growth through ________.
market development
The managers of Arrow, an American retail chain, are currently reviewing new demographic markets to sell the firm's current products. This is an example of ________.
market development
A ________ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want.
market offering
Which of the following refers to the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors?
market segmentation
An organic farmer has identified three distinct groups that might be interested in his products: vegetarians, health-conscious individuals, and people identified as trendsetters who try out new products in the market before others. These three groups are examples of ________.
market segments
The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as ________.
market targeting
The art and science of choosing target markets and building profitable relationships with them is called ________.
marketing management
Which of the following terms refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs?
marketing myopia
________ is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations.
micromarketing
Orion Inc. operates in many industries, including pharmaceuticals and food products. The company's goal is to create "abundant and affordable food for all and a healthy environment." This represents Orion's ________.
mission statement
Which of the following is true about multivariable segmentation systems?
multiple segmentation bases help identify smaller, better defined target groups
A church targeting different demographic groups to increase attendance is an example of ________.
not for profit marketing
Tropicana promotes drinking orange juice at any time of day as a cool, refreshing drink. The market segmentation approach Tropicana is using is ________.
occasion segmentation
The purpose of ________ is to ensure that the company achieves the sales, profits, and other goals set out in its annual marketing plan.
operating control
________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others.
opinion leaders
In a SWOT analysis, ________ include favorable trends in the external environment.
opportunities
Omega Inc. makes lightweight sunglasses with 100-percent UV protection for people who love to hunt, hike, and ride bikes. The company's long-term plans include the development of lenses that, in addition to protecting users from UV rays, would help reduce lens spotting through effective water-sheeting methods. This new feature would be valuable to people who fish. Given the rising popularity of recreational fishing in the United States, Omega products clearly have a huge market potential. In terms of a SWOT analysis, Omega has recognized a market ________.
opportunity
The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.
outside in perspective
Marketing stimuli consist of the four Ps. Which of the following is NOT one of these?
packaging
The Jay Group hires better employees than its competition by conducting effective searches and multi-tiered interviews. The company also provides high quality training to its employees, an aspect often neglected by competitors. The Jay Group is most likely to gain a strong competitive advantage through which type of differentiation?
people differentiation
It is most accurate to say that when customers purchase products they act on ________ as they judge values and costs.
perceived value
A buyer's decisions are influenced by ________ such as the buyer's age and life-cycle stage, occupation, economic situation, lifestyle, personality, and self-concept.
personal characteristics
James has decided to buy a new vehicle. His brother John has recently purchased a new truck and recommends the same model to James. James finally decides to buy the same truck. Which of the following sources of information has most likely influenced James' purchase decision?
personal sources
In the context of a company's marketing mix, ________ includes company activities that make the product available to target consumers.
place
Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________.
positioning
"To busy multitaskers who need help remembering things, Evernote is a digital content management application that makes it easy to capture and remember moments and ideas from your everyday life using your computer, phone, tablet, and the Web." This is an example of a(n) ________.
positioning statement
Many organizations use multiple social media, such as Facebook, Twitter, Instagram, and YouTube. What is the primary reason a company would use multiple social media?
present a carefully integrated message to fans and customers
Railroads were once operated based on the thinking that users wanted trains that would offer the most in quality, performance, and innovative features. The railroad managing companies overlooked the fact that there could be other modes of transportation. This reflects the ________ concept.
product
The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features.
product
Which of the following marketing management concepts is most likely to lead to marketing myopia?
product concept
Companies that define their missions in terms of products or technologies are considered myopic primarily because ________.
products and technologies eventually become outdated
________ refers to activities that communicate the merits of the product and persuade target customers to buy it.
promotion
An American cola-manufacturing company that primarily targets rebellious and adventurous people most likely uses ________ segmentation.
psychographic
________ segmentation divides buyers into different segments based on lifestyle or personality characteristics.
psychographic
John has decided to buy a particular smartphone that he saw reviewed online. Which of the following sources of information has most likely influenced John's purchase decision?
public sourcs
Which of the following is NOT an element of the marketing mix?
purchase
As part of the rapid globalization of today's economy, companies are selling more domestically produced goods in international markets and ________.
purchasing more supplies abroad
________ are low-share business units in high-growth markets that require a lot of cash to hold their share.
question marks
In collecting primary data, marketing researchers have a choice of two main research instruments, ________.
questionnaires and mechanical devices
According to the Boston Consulting Group approach, ________ serves as a measure of company strength in the market.
relative market share
Often, international researchers must collect their own primary data because ________.
reliable secondary data is both scarce and difficult to find
Which of the following is true with regard to mail questionnaires?
response is low
________ measures the profits generated by investments in marketing activities.
return on marketing investment
Mission statements should be defined in terms of ________.
satisfying basic customer needs
Since a person's economic situation will affect her store and product choices, marketers watch trends in spending, personal income, interest rates, and ________.
savings
Information collected from Internet search engines is an example of ________ data.
secondary
Commercial online databases are rich sources for obtaining ________.
secondary data
Mark has long supported a particular brand of footwear and has always bought that brand. Recently, the footwear manufacturer was embroiled in a controversy for using child labor at its manufacturing plants. Mark doubts the news reports and continues to purchase the same brand of footwear. It is most accurate to say that Mark displays ________.
selective distortion
People tend to interpret new information in a way that will support what they already believe. This is called ________.
selective distortion
Jolene's firm markets preplanning services for a mortician. She finds that most of her target market avoids discussing future funeral needs. She convinces people to invest in the firm's services through her large-scale promotional efforts. Jolene's firm most likely practices the ________.
selling concept
Keith, a clothing store owner, offers product suggestions to customers based on their current purchases. Which of the following is Keith trying to increase?
share of customer
While collecting sensitive customer data, market researchers should adhere to all of the following guidelines EXCEPT ________.
sharing information without the customer's authorization
________ are a type of SBU that often require heavy investments to finance their rapid growth.
stars
The key businesses of Kimberley and Price consist of a division that produces and sells breakfast cereals and another that manufactures gardening tools. Each of these businesses is called a ________.
strategic business unit
________ is the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities.
strategic planning
Researchers have discovered that they can send hidden commands to affect the behavior of smart devices without the consumer knowing it. These commands are known as ________.
subliminal messages
Through ________, companies today are strengthening their connections with all partners, from providers of raw materials and components to those involved in the delivery of final goods and services.
supply chain management
The main section of the marketing plan most likely presents a detailed ________ analysis of the current marketing situation.
swot
Harris Brown, the marketing manager at a small retail chain, wants to assess his firm's strengths, opportunities, weaknesses, and threats. Which of the following would be best suited for his purpose?
swot analysis
Cathy's Clothes is a small yet successful retail chain that sells women's clothing and accessories with a focus on buyers who have relatively modest means. For this specific purpose, the firm has rolled out several marketing initiatives aimed at women of a specific demographic. This is an example of ________.
target marketing
Marketers set up company and brand Web sites that provide information and promote the company's products. Social media is a significant part of today's marketing strategy. Which of these tools is NOT part of the growth in digital technology?
telemarketing calls
The objective of causal research is to ________.
test hypotheses about cause and effect relationships
Buyer responses are influenced by marketing stimuli. The responses to the stimuli include all of the following EXCEPT ________.
the "why" regarding the responses
Which of the following is a major advantage of the market organization?
the company is organized around the needs of specific customer segments
Which of the following best describes a strategic business unit?
the key businesses that make up a company
Which of the following marketing orientations holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?
the marketing concept
Which of the following uses a customer-centered "sense-and-respond" philosophy rather than a product-centered "make-and-sell" philosophy?
the marketing concept
What is the purpose of marketing analytics?
to interpret the data obtained
Marketing in the non-profit sector is applied in all but which of these ways?
to publicize the organizations supporters
A SWOT analysis allows a marketer to evaluate the company's overall strengths, weaknesses, opportunities and threats.
true
A clear mission statement acts as an "invisible hand" that guides people in the organization.
true
A product's position is the place it occupies relative to competitors' products in consumers' minds.
true
A sample is a segment of the population selected for marketing research to represent the population as a whole.
true
Competitive marketing intelligence is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketplace.
true
Competitor intelligence can be collected from people inside the company, such as executives, engineers, purchasing agents, and the sales force, as well as customers.
true
Customer engagement and value are the key ingredients in the marketer's formula for success.
true
Customer touch points include customer purchases, satisfaction surveys, credit and payment interactions, sales force contacts, and service and support calls.
true
In evaluating different market segments, a firm should look at three factors: segment size and growth, segment structural attractiveness, and company objectives and resources.
true
The adoption process for new products refers to the mental process through which an individual passes from first learning about an innovation to final adoption.
true
The major activity in strategic planning is business portfolio analysis, whereby management evaluates the products and businesses that make up the company.
true
The most obvious advantages that Internet-based survey research offers over mail and personal interviewing approaches are high speed and low costs.
true
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
Jean Malone, a market researcher, recently found that most people in Bradburg County purchase automobiles with predominantly functional designs and prefer darker colors. Which of the following marketing strategies should Jean most likely recommend to an automobile dealer interested in opening a dealership in Bradburg County?
undifferentiated marketing
Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through ________.
value creation and exchange
The network made up of the company, its suppliers, its distributors, and, ultimately, its customers who partner with each other to improve the performance of the entire system is known as the ________.
value delivery network
Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?
value proposition
When are sellers most effective?
when they focus more on the benefits and experiences produced by their products and services
Digital technology allows companies to reach out to customers in numerous ways. Which of the following is NOT the purpose of a company reaching out using digital and social media?
working with suppliers
