BUSI 1301 chapter 11

Understanding the ___________ begins with analysis of market share.

competitive environment

Which of the following is a difference between demographic segmentation and geographic segmentation?

Demographic segmentation refers to dividing the market based on measurable characteristics about people, whereas geographic segmentation refers to dividing the market based on where consumers live.

In the context of marketing research, secondary data is existing data that marketers gather or purchase for a research project.

True

Primary data is the new data that marketers compile for a specific research project.

True

The price of a product must be relative to the benefits of that product.

True

Through the use of technology, marketers can lower costs and deliver greater value to their customers.

True

When it comes to creating customer satisfaction, perceived value is just as important as actual value.

True

In the context of marketing research data, an example of primary data is _________.

a focus group

Dustin loves dining at Jolenney, a continental restaurant.Whenever he has friends or family visiting him, he takes them to Jolenney for dinner. He personally gives feedback about the food to the restaurant manager and the chef every time he dines there. In the context of merketing, which of the following concepts does this scenario best illustrate?

customer loyalty

Rhonynn, an apparel shop, has a play area for kids in the store to keep them occupied while their parents shop. Kids of Rhonynn's loyalty cardholders are also given a toy or two to take home with them. Whic of the following marketing strategies does this scenario best illustrate?

customer relationship management

The goal of the ________ of a product is to deliver the product to the right people, in the right quantities, at the right time, in the right place.

distribution strategy

Norldenp Open is a tennis championship that is conducted every. By the end of spring, various companies that sponsor the championship start mentioning the championship in their product labels and in their advertisements. Which of the following marketing strategies does this scenario best illustrate?

event marketing

Which of the following is a characteristic of a well-chosen target market?

good accessibility

Companies employ __________ when they actively promote the ecological benefits of their products.

green marketing

Devoinser is a home products company that sells plastic household supplies. In their print and television advertisements, they emphasize this line: "We only use recycled plastic to make our products. Recycle, reuse, and reinvent!" Which of the following marketing strategies does this scenario best illustrate?

idea marketing

Companies use marketing research to:

identify external opportunities and threats

Which of the following is a drawback of primary data?

it tends to be expensive

Dividing potential customers into groups of similar people is known as ___________.

market segmentation

Monitoring and predicting consumer behavior is an objective of __________.

marketing research

Mauve Inc. purchased a global data collection and management system that provides detailed information about each of its customers. Using this information, Mauve is able to identify the individual needs of all its customers and provide tailored products and services. This scenario illustrates the concept of:

mass customization

Businesses adopt and identify target markets for their products to:

maximize the impact of the cost of marketing

Aiden Brent, an international tennis player, owns a multinational chain of sports shops named Brent Deuce. The company is popular and gets the attention of sports enthusiasts because of its brand name and ownership. Which of the following marketing strategies does this scenario best illustrate?

people marketing

The coastal town of Olaspen offers various exotic water sports and hiking expeditions to its tourists. The town government of Olaspen advertises its adventure tourism in travel magazines, newspapers,and on the television in neighboring countries. Which of the following marketing strategies does this scenario best illustrate?

place marketing

Jim works in the marketing department of a smartphone manufacturing firm. He is currently working on ideas for a new package design for the company's latest range of smartphones. In the context of the company's marketing mix, Jim's ideas contribute to the __________.

product strategy

In the context of the marketing mix, the _________ of a product includes all of the ways that marketers communicate about the product.

promotion strataegy