Exam for Chapter 11 and 14

Robert likes the kind of work he does in his office. He proactively seeks and accepts responsibility whenever the opportunity comes up. His firm exercise of self-control also helps him to successfully meet the company goals. This scenario is reflective of the assumptions of _____.

Theory Y

This theory assumes that work is as natural as play or rest—workers do not inherently dislike it. It also assumes that people can accept and even seek responsibility.

Theory Y

Satisfies wants by providing goods and services at a convenient time for customers.

Time Utility

Which of the following utilities satisfies wants by providing goods and services at a convenient period for customers?

Time utility

Sets the overall direction of the firm. Top managers must articulate a vision, establish priorities, and allocate time, money, and other resources.

Top management

The ability of goods and services to satisfy consumer wants.

Utility

_____ is the ability of goods and services to satisfy consumer wants.

Utility

the ability of goods and services to satisfy wants in terms of1 .Form 2.Time 3.Place 4.Ownership

Utility

First-line management manages the people who do the work. Typical titles include supervisor, foreman, and _____________.

a section leader

Maslow's hierarchy of needs theory states that people:

are motivated to satisfy only unmet needs.

The _____ of a firm includes managers who set the overall direction of the firm, articulating a vision, establishing priorities, and allocating time, money, and other resources.

top management

Consumer Buyer Behavior can be influenced by several elements

-Cultural -Social -Personal -Psychological

Consumermarket segmentation

-Demographic -Geographic -Psychographic -Behavioral

Business market segmentation

-Geographic -Customer-based -Product-use-based

What does marketing indlude?

-People -Places -Events -Ideas

What was the evolution of marketing?

-Production Era -Selling Era -Marketing Era -Relationship Era

Levels of Management

-Top -Middle -First-Line

Types of Research Data

1) Primary 2)Secondary

Consumer Decision Making Process

1.Need recognition 2.Information search 3.Evaluation of alternatives 4.Purchase decision 5.Post-purchase behavior

Management: Achieving organizational goals through

1.Planning2 .Organizing 3.Leading 4.Controlling

External Marketing Environment

Engage in Environmental Scanning of: Competitive market share Economic situation Social or Cultural lifestyle trends Technological advancements Political or Legal regulations

Attributed to researcher Victor Vroom, is based on the key concept that a worker will be motivated if he or she believes that effort will lead to performance, and performance will lead to a meaningful reward. The theory suggests that if any link in the chain is broken, the employee will not be motivated.

Expectancy Theory

Which of the following theories of motivation suggests that if any link in the relationship among individual effort, individual performance, and individual reward is broken, employees will not be motivated?

Expectancy theory

Social responsibility encourages _____________________ to promote ecological benefits of products

Green marketing

The landscape of marketing changed dramatically in the 1950s. An era of relative peace and prosperity emerged, and—as soldiers returned from World War II—marriage and birthrates soared. To compete for the consumer's dollar, marketers attempted to provide goods and services that met customer needs better than anything else on the market. As a result, the marketing concept materialized in the 1950s.

Marketers' attempt to provide goods and services that met customer needs

Which of the following was a major contributing factor in the conception of the marketing concept?

Marketers' attempt to provide goods and services that met customer needs

set of processes for creating, communicating, and delivering value to customers managing customer relationships •Providing Utility

Marketing

A business philosophy that makes customer satisfaction—now and in the future—the central focus of the entire organization.

Marketing Concept

.Marketing Era - marketing concept was born that made customer satisfaction the main focus of business

Marketing Era

Group of people most likely to buy your product

Target Market

According to Maslow's hierarchy of needs theory, social need refers to:

the need to feel connected to others.

During the selling era of marketing, supply in many categories exceeded demand. This led to the:

emergence of the hard sell.

_____________________is more rational and criteria based

Business Buyer Behavior

Post-Purchase behavior can result in ___________________:Being uneasy with a purchase decision

Cognitive Dissonance

Types of Market Segmentation

Consumer Market and business market

Which of the following statements is true of management skills?

Critical thinking helps managers find value even in an overload of information.

onship Era - marketers aim to achieve customer loyalty

Customer Relationship Management (CRM)

value is above and beyond expectations

Customer Satisfaction

Which of the following statements is true of job enrichment?

It is the creation of jobs with more meaningful content, under the assumption that creative work will motivate employees.

Refers to the creation of jobs with more meaningful content, under the assumption that challenging, creative work will motivate employees.

Job Enrichment

Which of the following statements is true of human skills?

Managers with strong human skills can typically mobilize support for initiatives and find win-win solutions for conflicts.

Dividing potential customers into groups of similar people

Market segmentation

Sports, politics, and art dominate the category of people marketing, but even some businesspeople merit mentioning. Top banking executives, for instance, took a beating from a marketing standpoint during the financial meltdown at the end of 2008.

People Marketing

Involves drawing people to a particular place. Cities, states, and nations use place marketing to attract tourists.

Place Marketing

Satisfies wants by providing goods and services at a convenient place for customers.

Place Utility

Which of the following marketing strategies can be best employed for attracting tourists?

Place marketing

Which of the following utilities satisfies wants by providing goods and services at a convenient location for customers?

Place utility

new data that is collected (observation or survey)

Primary Research

Marketing Strategies

Product - actual product, design, name, packaging Price - fair price considering value Distribution - place, selling locations Promotion - communication, advertising

marketing efforts were not needed

Production Era

marketers aim to achieve customer loyalty

Relationship Era

•existing data that is used (reports or published info)

Secondary Research

Which of the following is most likely to be a first-line management title in a large company?

Section leader

marketers had to "sell" the product and convince customers to buy

Selling era

In the context of management skills, top-level managers must demonstrate excellent:

conceptual skills.

Repeating purchases from a customer

customer loyalty

By the 1920s, production capacity had increased dramatically. For the first time, supply in many categories exceeded demand, which caused _______________________________________________.

emergence of the hard sell

Idea marketing is often combined with _____ to market ideas that are meant to change how people think or act.

event marketing

Often, idea marketing and _____________ are combined, as we see in the annual Avon Walk for Breast Cancer.

event marking

personal, extensive, proactive partnership

full partnerships

sporadic, impersonal relationships

limited relationships

The _____ is a business philosophy that makes customer satisfaction—now and in the future—the central focus of the entire organization.

marketing concept

Technology has allowed for the ____________________________ of products which marketers can promote

mass customization

What is first-line management?

oversees worker employees

In the context of marketing strategies and tactics, sports, politics, and art dominate the category of _____.

people marketing

In the context of the evolution of marketing, marketers of the _____ believe that satisfied customers can develop into advocates for businesses by becoming powerful generators of positive "word-of-mouth."

relationship era

The marketing concept has gathered momentum across the economy, leading to the current era, unfolding over the last decade, which zeros in on long-term customer relationships. Satisfied customers can develop into advocates for your business, becoming powerful generators of positive "word-of-mouth."

relationship era

What is middle level management?

reports to higher level managers, supervises lower level managers

What is top level management?

sets overall direction

Marketing Research is Gathering and applying information to:

•Identify opportunities and threats •Monitor and predict customer behavior •Improve the marketing mix

Skills needed in management.

•Technical - functional expertise •Human - works well with others •Conceptual - ability to see big picture