BCOR 360
Which of the following is true of mobile marketing?
Marketers use mobile channels to stimulate immediate buying.
________ are the form human needs take as they are shaped by culture and individual personality.
Wants
GT Grand, a manufacturer of ultra-luxury cars, supplies customized vehicles based on the specific demands of customers in affluent market segments. The company's approach is most likely referred to as ________.
target marketing
Selecting particular segments of a population of customers to serve is called ________.
target marketing
Customer evangelists are those who ________.
tell others about their good experiences with a brand or product
Customers who are classified as true believers ________.
tell others about their good experiences with a company
Which of the following transforms marketing strategies into real values for consumers?
the four Ps of marketing
Which of the following concepts is based on a customer-centered philosophy?
the marketing concept
Dividing a market into several sections of customers is known as ________.
market segmentation
Which of the following concepts holds that consumers will favor products that are available and highly affordable?
the production concept
A customer who is both loyal and profitable is referred to as a ________.
true believer
According to the five-step model of the marketing process, the first step in marketing is ________.
understanding the marketplace and customer needs and wants
The selling concept is typically practiced with ________.
unsought goods
________ refers to a channel stretching from raw materials to components to final products that are carried to final buyers.
A supply chain
________ is the total combined customer lifetime values of all the company's current and potential customers.
Customer equity
________ is the act of obtaining a desired object from someone by offering something in return.
Exchange
________ are defined as states of felt deprivation.
Needs
Which of the following is a difference between the marketing concept and the selling concept?
The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products.
The societal marketing concept holds that ________.
a company's marketing decisions should focus on creating economic value in a way that also creates value for the surrounding environment
The overall process of dealing with all aspects of acquiring, keeping, and growing customers is referred to as ________.
customer relationship management
The final step in the marketing process is ________.
capturing value from customers
Customer-driven marketing is most effective when ________.
clear needs exist and customers know what their needs are
The Niketown running community organizes bimonthly athletic training programs for Nike buyers. This is an example of a ________.
club marketing program
The selling concept holds that ________.
consumers will not buy enough of a firm's products unless the firm undertakes large-scale persuasion and promotion efforts
Marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on ________.
consumers' existing wants The Railroad was an example company
Directing consumers toward products and services that meet their present and future needs is referred to as ________ marketing.
customer-driving
When customers don't know what they want or don't even know what's possible, the most effective strategy is ________ marketing.
customer-driving
Which of the following terms refers to a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers?
customer-perceived value
Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a(n) ________.
demand
When backed by buying power, needs become ________.
demands
According to the product concept, a company should ________.
devote its energy to making continuous product improvements
The ultimate aim of customer relationship management is to ________.
produce high customer equity
The ________ concept holds that consumers will favor goods and services that offer the most in quality, performance, and innovative features.
product
Voize, a leading mobile phone manufacturer, focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Voize most likely follows the ________.
production concept
A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy their needs.
value proposition