Chapter 11: Marketing: Helping Buyers Buy
Marketers use age, education level, income, and taste to markets.
Blank 1: segment or target
The creation of real or perceived product differences is called:
product differentiation
Marketing started with companies selling whatever they produced without considering customer needs. This was called the ______ era of marketing
production
With marketing research, marketers analyze markets to determine:
opportunities and challenges
The focus of the marketing era that makes sure everyone in the organization has the same objective - customer satisfaction - is the orientation.
Blank 1: service
True or false: Intermediaries are the middle links in a series of organizations that distribute goods from producers to consumers.
True
Marketing started with companies selling whatever they produced without considering customer needs. This was called the ______ era of marketing.
production
In order to gather additional in-depth information needed for business decisions, marketers must do their own research by gathering:
primary data
During the production era it was believed that one should produce as much as you can, because:
there is a limitless market for the product
When a company finds a small but profitable market segment and designs products just for them, the company is engaged in:
niche marketing
Marketing helps to identify what products customers have purchased in the past, current purchasing patterns, and future wants.
Blank 1: research
Existing data is called data since you aren't the first one to gather the data.
Blank 1: secondary
Information that has already been compiled by others and published in journals and books or made available online is data.
Blank 1: secondary
Databases, blogs, and social networking help companies gather to meet consumer needs through the development of products and services.
Blank 1: information or data
The factors that go into a marketing program: product, price, place, and promotion, are called the mix.
Blank 1: marketing
Product, price, place, and promotion are the four elements in the
Blank 1: marketing Blank 2: mix
Developing products and promotions to please large groups of people is marketing.
Blank 1: mass
The process of finding small but profitable market segments and designing or finding products for them is called marketing.
Blank 1: niche
Changes in the economy force marketers to adjust and adapt their products to take into account consumers' income.
Blank 1: pricing or prices
The investigation of consumer thought processes at each stage in a purchase in order to determine the best way to help the buyer buy is called:
consumer behavior
Mass marketing means that products and promotions are developed in order to please:
large groups of people
Changes in an individual's behavior resulting from previous experiences is:
learning
The costs of producing, distributing and promoting the product will all influence the product's:
price
Marketing is the activities, sets of institutions, and processes that add ______ for customers.
value
Auto companies truly seem to be listening to customers who are environmentally concerned by offering more fuel-efficient cars. They are adjusting the element of the marketing mix to meet customer needs.
Blank 1: product
Sociocultural, competitive, economic, global, and technological influences are all factors influencing:
the marketing environment
There are relatively few customers in the B2B market because there are just a few construction or mining companies compared to 80 million households in the U.S. market.
Blank 1: consumer or B2C
Marketers should gather data first because it is already available and to avoid incurring unnecessary expense.
Blank 1: secondary
True or false: Culture is the set of values, attitudes, and ways of doing things that are transmitted from one generation to another in a given society.
True
True or false: There is a wider variety of careers in marketing than in most business disciplines.
True
Select all that apply Marketers must pay attention to the dynamic competitive environment because:
change is occurring more rapidly the Internet gives consumers information instantly
Select all that apply The B2B market includes:
institutions manufacturers government
Select all that apply Promotion involves:
motivating potential customers to buy informing people about products
All of the techniques sellers use to inform people about and motivate them to buy their products or services is called:
promotion
Globalization can create more opportunities for marketers but along with that comes more pressure because they must take into account the
differing attitudes and values of various country cultures
A physical good, service, or idea that satisfies a want or need is called a(n):
product
Select all that apply A product includes anything that would enhance it in the eyes of consumers, such as the:
warranty package brand
The production era philosophy was to produce as much as possible because the was unlimited.
Blank 1: demand or market
is a persuasive form of communication that informs people and motivates them to buy products and services.
Blank 1: Promotion
Select all that apply Which of the following are considered examples of geographic segmentation?
by states by city by region
The marketing concept that states that a business must find out what consumers want and provide it for them is called the:
customer orientation
Marketers who want to avoid incurring unnecessary expenses when researching data should first gather:
secondary data
Select all that apply Pick out the attributes typically used to differentiate consumer groups.
Education Age Income
True or false: Changes in an individual's behavior resulting from previous experiences and information creates culture.
False
True or false: Grouping two or more products together and pricing them as a unit is called stacking.
False
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
The set of values, attitudes, and ways of doing things transmitted from one generation to another is:
culture
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
Compared to the 80 million or so households in the U. S. consumer market, there are:
fewer customers in the B2B market
Companies use technological changes such as consumer databases, blogs, and social networking in order to develop products that:
meet consumer needs
It is unusual for a company to sell:
one product
One of the fastest-growing segments of the U.S. population is:
over 65
Select all that apply When setting price, a company must consider many factors including the costs of:
production distribution promotion
When businesses developed mass-production techniques and capacity exceeded immediate demand, the:
selling era began
The marketing concept that relates to the idea that the entire organization must be focused on customer satisfaction is called the:
service orientation
Marketers must pay attention to the dynamic competitive environment mainly because of competition from:
the internet
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..
Blank 1: production
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
The activities buyers and sellers perform to facilitate mutually satisfying exchanges is:
marketing
One of the fastest-growing segments of the U.S. population is people over the age of
Blank 1: 65
One of the fastest-growing segments of the U.S. population is people over the age of .
Blank 1: 65
The -to- market includes manufacturers, intermediaries, hospitals, schools, charities, and the government
Blank 1: business or B Blank 2: business or B
Consumer behavior is the study of people's decisions and the factors that influence those decisions.
Blank 1: buying, purchasing, or purchase
The market consists of all the individuals and households that want goods and services for personal consumption.
Blank 1: consumer
As the slowed, marketers had to adapt by offering products that were less expensive and more tailored to consumers with modest incomes.
Blank 1: economy
Sociocultural, competitive, technological, global, and economic are the major influences in the marketing
Blank 1: environment
People over 65 have become one of the growing segments of the U.S. population.
Blank 1: fastest
Dividing a market by cities, counties, states, or regions is segmentation.
Blank 1: geographic
In a global market, marketers must be sure to dialogue with customers to ensure they understand about the and they want.
Blank 1: goods or products Blank 2: services
Changes in an individual's behavior resulting from previous experiences and information is
Blank 1: learning
There is a wider variety of careers in than in most business disciplines
Blank 1: marketing
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
Blank 1: price
Often secondary data does not provide all the information managers need for decision making, and they must gather data.
Blank 1: primary
When production capacity exceeded the immediate market demand, the business philosophy changed from the production era to the era.
Blank 1: selling or sales
The emphasis in those firms with a customer orientation is to meet consumer rather than on promotion and sales.
Blank 1: wants, needs, demand, or expectations
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
Many customers value "green cars" because of the positive environmental aspects and the savings from better gas mileage. The marketing mix factor that represents the value of the product is ______.
Price