busi 13

production selling marketing customer relationship

Click and drag on elements in order Rank order the different eras of marketing by putting the earliest at the top to the most recent at the bottom.

meet consumer needs

Companies use technological changes such as consumer databases, blogs, and social networking in order to develop products that ______.

the marketing mix

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

65

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

mass marketing. Explanation Mass marketing is the development of products and promotions aimed to please large groups of people.

At one time, companies developed products and promotions to please large groups of people, and tried to sell as many products to as many people as possible. This is known as

develop products for separate groups

Because they differ greatly by age, education, income, and taste, marketers often need to differentiate the various consumer groups in order to Blank______.

Tourists New businesses

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

Promotion or Promotions

is all of the techniques and communications that inform people and motivates them to buy products and services.

analysis Explanation Marketers turn the data they collect in the marketing research process into useful information. This is part of the data analysis step in the research process.

After one year of operation, Van and Mickey learned that several musicians who left the academy were driving to a larger town to receive similar services. In order to learn about the potential customers who were going elsewhere for lessons, Van and Mickey looked online to determine how the competitor's services differed from theirs. They learned that competitor was open longer hours on weekends and offered more blues and jazz options. The new information Van and Mickey gathered and its interpretation was the __________ part of the marketing research process.

Geographic

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?

test marketing. Explanation Test marketing is the process of testing products among potential users.

When Burger World considered adding Italian beef to its menu, the company made the sandwiches available in some of its more established markets to determine customer reactions. That process is called

niche marketing

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

production promotion distribution

When setting price, a company must consider many factors including the costs of:

target market. Explanation By conducting marketing research, including the collection of demographic and lifestyle information on those who will potentially come to the academy, the partners are closing in on the target market.

As Van and Mickey explore the possibility of starting a music academy where kids 7 to 18 can receive instrument or voice lessons and be part of a band that puts on a live show, they collect demographic and lifestyle information and identify their potential students. This exercise will help to better identify their

the Internet

Brick and mortar retailers must pay attention to the dynamic competitive environment mainly because of competition from:

geographic

Dividing a market by cities, counties, states, or regions is (. ) segmentation.

True

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

true There are many career options including retail manager, marketing research, product development, selling, advertising. sales promotion, or public relations.

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

Learn what potential students want to achieve through instruction. Explanation Before designing the product or service offerings, marketers must get to know as much as possible about the customer they will be serving. In this case, the first step is understanding musicians, their parents, and the students' desire to play music and perform with others.

Van and Mickey want to start their own music academy where kids 7 to 18 can receive instrument or voice lessons and be part of a band that puts on a live show. Which step in the marketing process is the best place to begin?

institutions manufacturers government

The B2B market includes:

marketing

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

marketing

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 ( ).

opportunities and challenges

With marketing research, marketers analyze markets to determine Blank______.

Competitive Global Economic

Select all that apply Pick out the influences in the marketing environment.

Global Competitive Economic

Select all that apply Pick out the influences in the marketing environment.

motivating potential customers to buy informing people about products

Select all that apply Promotion involves:

sociocultural Explanation Businesses monitor sociocultural trends to maintain close relationships with their customers.

Recently, Van and Mickey's music academy has had several inquiries about adding stringed instruments. While scanning the __________ environment in their service area, they become aware of the growing number of students who play stringed instruments. Van and Mickey are seriously considering expanding their operation to include the opportunity of playing a stringed instrument in a jazz or rock group.

price

The costs of producing, distributing and promoting the product will all influence the product's Blank______.

production

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..

promotion. Explanation The four Ps are product, price, place, and promotion.

The four factors that go into a marketing program are called the marketing mix. They are: product, price, place, and

sociocultural Explanation Marketers must monitor social trends such as population growth and changing demographics. The growing population of Americans over 65 is having a large effect on the market.

The increase in the number of older Americans has created a growing demand for nursing homes, health care, continuing education, and more. This is as a result of the changes in the __________ factors of the environment.

consumer behavior

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 Blank______.

Market research

Which marketing activity helps businesses gather information to compete effectively?

promotion

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

Blogs Data bases Social media

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

environment

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

consumer

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

consumer

The ( ) market consists of all the individuals and households that want goods and services for personal consumption

marketing

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. About helping the buyer buy rather than helping the seller sell

marketing research

The analysis of markets to determine opportunities and challenges, and to find the information needed to make good decisions.

B2B

The process of finding small but profitable market segments and designing or finding products for them is called ( ) marketing.

environmental scanning. Explanation Environmental scanning is the process of identifying factors that can affect marketing success.

The process of identifying factors that can affect marketing success is called

customer relationship management (CRM)

The process of learning as much as possible about customers and doing everything you can over time to satisfy them—or even exceed their expectations—with goods and services.

lumber needed to make furniture Explanation The business-to-business market consists of all the individuals and organizations that want goods and services to use in producing other goods and services.

Which product would be considered part of the business-to-business market?

secondary

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

intermediaries

Getting products to consumers when and where they are wanted is critical to market success. Many times it is the responsibility of Blank______.

mass marketing

Using the same products and promotions to appeal to large groups of people is Blank______. Multiple choice question.

product, price, place, and promotion

What are the four factors of the marketing mix?

product

A physical good, service, or idea that satisfies a want or need is called a(n) Blank______.

the activities buyers and sellers perform to facilitate mutually satisfying exchanges. Explanation Marketing is defined as 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. Simply put, marketing is the activities buyers and sellers perform to facilitate mutually satisfying exchanges.

The idea behind marketing is

customer relationship management. Explanation Customer relationship management (CRM) is the process of learning as much as possible about customers and doing everything you can to satisfy them—or even exceed their expectations—with goods and services. The idea is to enhance customer satisfaction and stimulate long-term customer loyalty.

Focusing on long-term customer loyalty is integral to

individuals households

Select all that apply The consumer market is made up of:

marketing mix

Product: Any physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eyes of consumers, such as the brand name. Price: set an appropriate price. Place: getting the product to the right place. Promotion: develop a promotion stragety. All the techniques sellers use to inform people about and motivate them to buy their products or services.

change is occurring more rapidly the Internet gives consumers information instantly

Select all that apply Marketers must pay attention to the dynamic competitive environment because:

Age Income Education

Select all that apply Pick out the attributes typically used to differentiate consumer groups.

emerging mobile/on-demand marketing Explanation The digital age is increasing consumers' power and pushing marketing toward being available on demand, not just always "on." Consumers share, compare, and rate experiences through social media, and mobile devices make it all available 24/7.

When Tino opened his Italian fusion restaurant in a trendy neighborhood in Chicago, he believed that important elements of his success would be great online reviews and a heavy Instagram presence. In terms of the evolution of marketing, Tino is demonstrating the __________ era.

secondary data. Explanation Secondary data is information that has already been compiled by others and published or made available to researchers.

When an upscale window treatment business wanted to introduce some new product lines, the marketing team looked to the Internet to find industry trends, not only in window coverings but in current window technology and sizing. The type of information the marketing team was using is referred to as