AGEC 237

is determined by a customer's evaluation of the benefits and costs of a market offering relative to those of competing offers.

Customer-perceived value

Which generational group is characterized as the most educated and the least materialistic?

Generation X

Which of the following is a potential downside to using patriotic themes in marketing programs?

Patriotism could be viewed as an attempt to cash in on the nation's emotions

________ refers to activities that communicate the merits of the product and persuade target customers to buy it.

Promotion

A company's broad mission leads it to develop all of the following EXCEPT ________.

budget objectives

A company should not always target all possible customers. Which kind of customer is not the most valuable to a company, but, can over time, contribute to the firm's success?

butterflies

Sparks Inc. has a growing ________ market in the United States consisting of individuals and households that buy Sparks' products for personal use.

consumer

is the act of obtaining a desired object from someone by offering something in return.

exchange

Which of the following is the aim of the product concept?

focus on making continuous product improvements

The most common form of marketing organization is the ________ organization. Under this organization, an operational specialist heads different marketing activities.

functional

Governments develop public policy to ________

guide commerce

Marketing control involves four steps including all the following EXCEPT ________.

increasing the staffing in the planning department

Dividing the market into various groups of customers that a company may serve is called ________.

market segmentation

_____________ research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

marketing

A _________ ____________ system assesses information needs, develops needed information, and helps decision makers use the information.

marketing information

Which of the following Ps in the marketing mix describes the goods-and-services combination the company offers to the target market?

product

The portion of the customer's purchasing that a company gets in its product categories is known as

share of customer

are human needs that are shaped by culture and individual personality

wants

markets buy goods and services for further processing.

Business

________ are low-growth, high-share businesses/products that need less investment to hold their market share.

Cash cows

Which of the following is true with regard to a SWOT analysis?

It evaluates the company's overall strengths.

Which of the following is true with regard to the diversity segment of U.S. adults with disabilities?

Most individuals with disabilities are active consumers.

Which of the following is the most likely result of a marketing strategy that attempts to serve all potential customers?

Not all customers will be satisfied.

Which of the following is true of Gen Xers?

They are more skeptical than baby boomers.

Which of the following is true of the Millennials?

They are the children of baby boomers and were born between 1981 and 1996.

Which of the following is true with regard to cash cows?

They can be used to help finance the company's question marks and stars.

At Gina's retail stores, the posted policy reads, "Without our customers, we don't exist." Gina and her staff aim to delight each customer, and they are quick to offer discounts or extra services whenever a customer is anything less than satisfied. Gina and her staff strive to make every customer a repeat customer. It is most accurate to say that instead of focusing on each individual transaction, Gina and her staff put a priority on

capturing customer lifetime value

The objective of _____________ research is to test hypotheses about cause-and-effect relationships

causal

A company's marketing decisions may be questioned by consumer organizations, environmental groups, minority groups, and others. These organizations and groups are also known as ________.

citizen-action publics

___________ sample nonprobability sample in which the researcher selects the easiest population members from which to obtain information

convenience

The primary key to delivering customer satisfaction is to match product performance with ________.

customer expectations

Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called ________.

customer relationship management

The marketing team of 7 Star Inc., a company manufacturing smartphones, is currently studying the size, density, location, age, and occupation of its target market. Which of the following environments is being studied in this scenario?

demographic environment

________ research would be best suited for understanding the attitudes of consumers who buy a particular brand of soft drink.

descriptive

Which of the following is NOT a step in the strategic planning process?

evaluating members of the company's value chain

In ________ research, the objective is to gather preliminary information that will help define the problem and suggest hypotheses.

exploratory

Open-ended questions are especially useful in _____________ research.

exploratory

Regulations force companies to be responsible. However, most companies want to be responsible. Impacts of government regulations include all of the following EXCEPT ________.

informing the public that products are safe

A firm that uses the selling concept takes a(n) ________ approach.

inside-out

Micropolitan areas are ________.

likely to offer the same advantages as metropolitan areas

Which of the following strategies would a company most likely use to increase customer satisfaction?

lowering prices

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.

marketing mix

The marketing logic by which a company hopes to create customer value and achieve profitable customer relationships is referred to as the ________.

marketing strategy

Bead Beautiful is a jewelry brand targeted at preteen girls. What needs do NOT fit with this audience, as the marketing team develops a value proposition for Bead Beautiful?

mature designs

In the context of geographical shifts in population, the migration toward ________ areas has resulted in a rapid increase in the number of people who telecommute.

micropolitan

Fargo Inc. is a carbonated beverage manufacturer that has many manufacturing plants around the world. It is planning to shift from using thermal power to wind power for its manufacturing plants in the Netherlands to decrease dependency on nonrenewable sources of energy. This scenario depicts Fargo's concern for its ________ environment.

natural

The physical environment affecting marketing activities is referred to as the ________ environment.

natural

The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.

outside-in perspective

People vary in their attitudes toward their society-while ________ defend it, malcontents want to leave it.

patriots

It is most accurate to say that when customers purchase products they act on ________ as they judge values and costs

perceived value

The ________ environment consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society.

political

As part of the rapid globalization of today's economy, companies are selling more domestically produced goods in international markets and ________.

purchasing more supplies abroad

Which is NOT part of the company environment that influences marketing decisions?

retailers

A(n) ________ is a segment of the population selected for marketing research to represent the population as a whole.

sample

Information collected from Internet search engines is an example of ________ data.

secondary

Marketers target Generation Z because they ________.

spend an estimated minimum of $43 billion annually of their own money

_______ is the most widely used method for primary data collection.

survey, survey research

Cathy's Clothes is a small yet successful retail chain that sells women's clothing and accessories with a focus on buyers who have relatively modest means. For this specific purpose, the firm has rolled out several marketing initiatives aimed at women of a specific demographic. This is an example of

target marketing

Marketers set up company and brand Web sites that provide information and promote the company's products. Social media is a significant part of today's marketing strategy. Which of these tools is NOT part of the growth in digital technology?

telemarketing calls

Government markets consist of government agencies that buy goods and services ________.

to produce public services