Chapter 13

The B2B market includes:

- institutions - government - manufacturers

Select the technological innovations that companies can use to develop products and services that match consumers' wants and needs more effectively.

Blogs Social networking Data bases

The__________market consists of all the individuals and households that want goods and services for personal consumption

Consumer

There are relatively few customers in the B2B market because there are just a few construction or mining companies compared to 128 million households in the U.S.________market

Consumer

Studying the thought processes people use to make buying decisions and the factors that influence their choices is the study of

Consumer behavior

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

Research

The set of values, attitudes, and ways of doing things transmitted from one generation to another is:

culture

Compared to the 80 million or so households in the U. S. consumer market, there are:

fewer customers in the B2B market

With marketing research, marketers analyze markets to determine:

opportunities and challenges

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

Which of these are sources of primary data collection?

Surveys & Focus Group

Product, price, place, and promotion are the four elements in Blank______.

The marketing mix

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

information or data

Promotion involves:

informing people about products motivating potential customers to buy

Which statement is accurate regarding people over the age of 65?

They are one of the fastest-growing segments of the U.S. population.

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

Tourists New Businesses

True or false: Changes in an individual's behavior resulting from previous experiences and information creates culture.

False

True or false: There is a wider variety of careers in marketing than in most business disciplines.

True

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

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

internet

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

niche marketing

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

Value

Customer orientation is finding out what the consumers_________ and providing it for them

Want

The consumer market is made up of:

individuals and households

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

- public relations - retail store manager - marketing advertising

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

65

The emphasis in those firms with a customer orientation is to meet consumer ___ rather than on promotion and sales?

Demand

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

Marketing

Developing products and promotions to please large groups of people is

Mass marketing

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

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 belief that companies should produce as much as they can because there is limitless market for products was the philosophy during the:

production era

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

promotion

Information that has already been compiled by others and published in journals, books, or online is called:

secondary data

When businesses developed mass-production techniques and capacity exceeded immediate demand, the:

selling era began

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

governments

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

marketing

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

secondary

The four factors in the marketing mix are:

Product, Price, Place, Promotion

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

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

Changes in an individual's behavior resulting from previous experiences is:

learning

Choose the secondary sources of data collection from the list.

magazines and government publications

The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is called

marketing

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

marketing environment

When a company finds a small but profitable market segment and designs products just for them, the company is engaged in:

niche marketing

Any physical good, service, or idea that satisfies a want or need is a

product

Sociocultural, competitive, technological, global, and economic are the major influences in the marketing

environment

What is the key advantage of using secondary data?

It is generally less expensive to gather.

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

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 to a customer is:

Price

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

large groups of people

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

- warranty - package - brand

Pick out the attributes typically used to differentiate consumer groups.

-Age -Education -Income

Which of the following are considered examples of geographic segmentation?

1) by region 2) by city 3) by states

True or false: The business philosophy that emphasized selling and advertising in an effort to persuade consumers to buy existing products occurred during the production era.

False

When you need more in-depth information, marketers must develop their own research and obtain

Primary data

Interviews, surveys, and observation are considered________sources, whereas publications, magazines, and newspapers are considered_______________sources of market research.

Primary, secondary

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

State governments will use marketing in order to:

attract new business and tourism

Marketers must pay attention to the dynamic competitive environment because:

the internet gives consumers information instantly change is occurring more rapidly

Dividing a market by cities, counties, states, or regions is

geographic segmentation

Marketing started with companies selling whatever they produced without considering customer needs. This was called the ______ era of marketing.

production

Marketers should gather___________data first because it is already available and to avoid incurring unnecessary expense.

Secondary

Marketers use age, education level, income, and taste to

Segment markets

True or false: Intermediaries are the middle links in a series of organizations that distribute goods from producers to consumers.

True