BUSG 129 Chapter 13 learn smart

Which marketing activity helps businesses gather information to compete effectively?

Market research.

A product includes anything that would enhance it in the eyes of consumers, such as the:

brand, warranty, and package.

Studying the thought processes people use to make buying decisions and the factors that influence their choices is ______ behavior.

consumer

Dividing a market by cities, counties, states, or regions is ______ segmentation.

geographic

Getting products to consumers when and where they are wanted is critical to market success. Many times it is the responsibility of:

intermediaries.

The factors that go into a marketing program: product, price, place, and promotion, are called the ______ mix.

marketing

There is a wider variety of careers in ______ than in most business disciplines.

marketing

The activities buyers and sellers perform to facilitate mutually satisfying exchanges is:

marketing.

Developing products and promotions to please large groups of people is ______ marketing.

mass

In setting a product's ______, a business needs to take into account the costs of producing, distributing, and promoting the product as well as a profit margin.

price

Food companies truly seem to be listening to customers who want healthy fast-food that is preservative, chemical, and antibiotic free. They are adjusting the ______ element of the marketing mix to meet customer needs.

product

The four factors in the marketing mix are:

product, price, place, and promotion.

A physical good, service, or idea that satisfies a want or need is called a(n):

product.

All of the techniques sellers use to inform people about and motivate them to buy their products or services is called:

promotion.

Marketing ______ helps to identify what products customers have purchased in the past, current purchasing patterns, and future wants.

research

Existing data is called ______ data since you aren't the first one to gather the data

secondary

Information that has already been compiled by others and published in journals and books or made available online is ______ data.

secondary

Pick out the attributes typically used to differentiate consumer groups.

Income, education, and age.

States use marketing to attract many groups. Choose the two main groups from the list that states try to attract:

New businesses and tourists.

______ is a persuasive form of communication that informs people and motivates them to buy products and services.

Promotion

Marketing is the activities, sets of institutions, and processes that add ______ for customers.

value

When setting price, a company must consider many factors including the costs of:

distribution, production, and promotion

The segmentation method that develops or finds products for small, but profitable market segments is:

niche marketing.

One of the fastest-growing segments of the U.S. population is:

over 65.

The B2B market not only includes manufacturers, intermediaries, and institutions, but also ______ at the federal, state, and local levels.

governments

Companies use technological changes such as consumer databases, blogs, and social networking in order to develop products that:

meet consumer needs.

The consumer market is made up of:

individuals and households.

Databases, blogs, and social networking help companies gather ______ to meet consumer needs through the development of products and services.

information

Globalization can create more opportunities for marketers but along with that comes more pressure because they must take into account:

the requirements in delivering products to countries outside of the U.S.

In a global market, marketers must be sure to dialogue with customers to ensure they understand about the ______ and ______ they want.

goods; services

The first era in marketing was a focus on producing as much as possible because of high demand. This was termed the ______ era which was followed by the selling era, the marketing concept era and finally the customer relationship era.

production

If a student majors in marketing, which career options will be available?

Public relations, advertising, and retail store manager.

The process of finding small but profitable market segments and designing or finding products for them is called ______ marketing.

niche

The ______-to-______ market includes manufacturers, intermediaries, hospitals, schools, charities, and the government.

business; business

Rank order the different eras of marketing by putting the earliest at the top to the most recent at the bottom.

1. Production 2. Sales 3. Marketing concept 4. Customer relationship

The individuals or households that want goods and services for personal consumption or use, and have the resources to buy them are part of the:

consumer market.

Many customers value fast, fresh, flavorful food that is free of preservatives, chemicals, and antibiotics. The marketing mix factor that represents the value of the product is ______.

price.

Marketers must pay attention to the dynamic competitive environment mainly because of competition from:

the internet.

Sociocultural, competitive, economic, global, and technological influences are all factors influencing:

the marketing environment.

Instead of selling your product throughout the United States, you might concentrate on one or two regions. This is an example of which type of segmentation?

Geographic.

Marketers use age, education level, income, and taste to ______ markets.

segment

Consumer behavior is the study of people's ______ decisions and the factors that influence those decisions.

buying

Changes in the economy force marketers to adjust ______ and adapt their products to take into account consumers' income.

prices

One of the fastest-growing segments of the U.S. population is people over the age of ______.

65.

When marketers adapt their products by offering less expensive products that are tailored to consumers with modest incomes, they are paying close attention to:

economic factors.

Pick out the influences in the marketing environment.

Global, economic, and competitive.

These people perform many of the activities required to move products efficiently from producers to consumers or industrial buyers and are often wholesalers or retailers.

Intermediaries.

Mass marketing means that products and promotions are developed in order to please:

large groups of people.

State governments use ______ to compete with other states and countries to locate businesses in their areas.

marketing

Marketers must pay attention to the dynamic competitive environment because:

the Internet gives consumers information instantly and change is occurring more rapidly.

Many brick-and-mortar companies must pay attention to the new competition from the ______ because now consumers can search the world.

internet