MM51 BM
Which of the following factors is most important for marketers to consider when planning Promotions
Costs
What might happen if a business's customers feel that they are not getting the most value for their money?
Customers spend money elsewhere.
How does the marketing function of selling benefit society?
Helps to increase employment
What does continuously monitoring internal marketing information enable businesses to Do?
Identify problems
Which marketing career field involves determining why customers do what they do?
Marketing Research
Identify the marketing function in the following situation, while shopping at the mall, Susan is asked her opinion of different brands of shampoo
Marketing-information management
What marketing function is concerned with obtaining information about the preferences, opinions, habits, trends, and plans of current and potential customers?
Marketing-information management
Which of the following is an activity in the product/service management function
Phasing out unprofitable products
Which function of marketing determines how much gross profit a business will make on a good or service?
Pricing
Identify the term that best represents marketing's role in society
Problem solver
Dennis has a great idea for a new type of tennis ball that, if produced, would be better than any ball currently on the market. He pitches his idea to a few investors. Which of the four Ps should these investors consider first?
Product
Dennis has a great idea for a new type of tennis ball that, if produced,would be better than any ball currently on the market. He pitches his idea to a few investors. Which of the four Ps should these investors consider first?
Product
Manny has a new idea for a new mop that would decrease the time in cleaning tiledfloors. He thinks this product would be better than any mop currently on the market. Which of the four Ps should these investors consider first?
Product
Paul's plant food is losing its popularity among his customer base. Which marketing function would come up with the improved product?
Product or service management
In what marketing activity do businesses engage to meet the wants and needs of Consumers?
Product/Service management
Which marketing function involves creating the correct product mix for a business?
Product/Service management
Which marketing function can remind customers of items that they want to purchase?
Promotion
Which market segment represents customers who prefer a variety of reasonably priced recreational activities?
Psychographic
Which of the following is a type of internal marketing information
Sales reports
According to the marketing concept, which option shows company commitment?
Setting aside funds to research what customers want
Which of the following is a consideration in the price element of marketing
Should the business offer discounts?
Dairy King Restaurant allows customers the opportunity to enter drawings in order to win a birthday cake. Customers register by providing their contact information on a card. What does entering the drawings represent?
Tactic
To promote its new 2021 menu, Moe's Magnificent Meatballs take-out restaurant plans to e-mail a $5.00-off coupon to its regular customers next Tuesday. The coupon will be valid from January 15 through March 30. What does use of the coupon represent?
Tactic
To promote its summer menu, Danielle's Diner plans to e-mail a $5.00-offcoupon to its regular customers next Tuesday. The coupon will be valid from June 1 through June 15. What does use of the coupon represent?
Tactic
XYZ Company is interested in developing, producing, and selling a new product. Before it does so, the company spends six months conducting marketing research. What are the primary advantages of this course of action?
To determine customer preferences and minimize losses
What is one way that businesses use marketing information?
To develop new products
Why do businesses need to obtain marketing information?
To learn about customers
Can prices be set too low?
Yes; customers may feel quality is too low.
A product being in great demand is a factor that might encourage businesses to
adjust prices.
Which of the following is part of the promotional element of marketing
advertising
To buy a product, customers in a market must first
be willing to buy the product.
The owner of a business is meeting with the company's managers and supervisors to set objectives for the next year. This group is developing the company's
business goals.
The marketing function that is responsible for the flow of goods or services from the producer to the customer is
channel management.
One reason the selling function is so important is because it involves
contact with customers.
The marketing concept emphasizes the importance of a __________-oriented way of doing business
customer
Sorting customers by their physical and social characteristics is called _________ Segmentation
demographic
An effective marketing-information management function enables marketers to
determine what products customers want.
When using mass marketing, marketers seek to appeal to the
entire market.
To set prices, businesses must price the physical product and all of its associated
features.
There are many activities in marketing that are interrelated and similar in purpose. These activities are referred to as marketing
functions
North Face is launching a new Denali jacket and will be sending a catalog to all households in the 12958 area code. This apparel company is segmenting the market based on _____________________________________ segmentation
geographic
A target market can be described as the
group of customers the business seeks to attract.
A marketer who changes the product element in the marketing mix should re-evaluate the other marketing elements because the elements are
interrelated
The customer characteristic that reflects where customers fit in the day-to-day buying routine is known as
life stage.
Geographic segmentation is dividing a market by where customers are
lifestyle habits.
Geographic segmentation is dividing a market by where customers are
living
All potential customers who share common needs are known as a___________________________
market
A group of unique individuals that share common characteristics are known as a ___________________________.
market segment
A business's pricing objectives should be compatible with its ______________.
marketing objectives
Gathering, accessing, synthesizing, evaluating, and disseminating data for use in making business decisions is the responsibility of
marketing-information management.
Promotions that educate customers are especially important for __________ products
new
The most immediate impact of the marketing function is its relation to
offering a variety of goods and services.
Sellers must carefully set prices so that buyers feel they are receiving __________ value for their money
optimum
What is a consideration for the product element of marketing?
packaging
A promotion is considered to be successful if prospective customers are __________ to buy the product
persuaded
One of the advantages of obtaining and using marketing information is that it helps business managers to
predict and control risks.
Making both buyers and sellers feel they are getting good value is part of the __________ function of marketing
pricing
Marketing can best be thought of as a(n)
process
The general role of marketing in our private enterprise system is to coordinate
production and pricing.
Communicating information to consumers or clients about products, images, or ideas to achieve a desired outcome is the __________ function
promotion
Identify the marketing function illustrated in the following situation. Martha wants a winter coat and sees a style she likes in a magazine advertisement
promotion
Some of the major functions of marketing are
selling, pricing, promotion, and channel management.
Marketers divide their markets by grouping customers according to their
similarities.
Market segmentation is about dividing the market into __________ groups.
specific
One of the ways in which marketing benefits people is by improving their
standard of living.
A business plans to reduce shoplifting by 10% this year by installing electronic security cameras at key locations. Installing the cameras would be classified as a(n)
tactic
The same person can be included in more than one
target market.
Designing an effective marketing strategy is important
to the success of the business
A group of people who all enjoy watching Panthers Football would be considered a market that is segmented on the basis of ______________________ characteristics
psychographic
Changes that occur in the marketplace may cause an established business to __________ its marketing strategies.
redesign
When the total market is divided, one of its groups is called a market
segment.
The marketing function which involves the matching and satisfying of customer wants and needs with available goods or services is
selling
What is the overall reason that marketing strategies are designed and implemented?
Achieving planned goals
Which is the overall reason that marketing strategies are designed and implemented?
Achieving planned goals
Which of the following marketing functions enables businesses to have their products in the right place at the right time
Channel Management
Which marketing function involves determining where products will be sold?
Channel management
Which of the following is a consideration in the place element of marketing
Choosing distribution channels
Which of the following is a type of external marketing information that helps businesses make decisions
Demographic trends