Chapter 11: Marketing: Helping Buyers Buy

Marketers use age, education level, income, and taste to markets.

Blank 1: segment or target

The creation of real or perceived product differences is called:

product differentiation

Marketing started with companies selling whatever they produced without considering customer needs. This was called the ______ era of marketing

production

With marketing research, marketers analyze markets to determine:

opportunities and challenges

The focus of the marketing era that makes sure everyone in the organization has the same objective - customer satisfaction - is the orientation.

Blank 1: service

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

True

Marketing started with companies selling whatever they produced without considering customer needs. This was called the ______ era of marketing.

production

In order to gather additional in-depth information needed for business decisions, marketers must do their own research by gathering:

primary data

During the production era it was believed that one should produce as much as you can, because:

there is a limitless market for the product

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

niche marketing

Marketing helps to identify what products customers have purchased in the past, current purchasing patterns, and future wants.

Blank 1: research

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

Blank 1: secondary

Information that has already been compiled by others and published in journals and books or made available online is data.

Blank 1: secondary

Databases, blogs, and social networking help companies gather to meet consumer needs through the development of products and services.

Blank 1: information or data

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

Blank 1: marketing

Product, price, place, and promotion are the four elements in the

Blank 1: marketing Blank 2: mix

Developing products and promotions to please large groups of people is marketing.

Blank 1: mass

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

Blank 1: niche

Changes in the economy force marketers to adjust and adapt their products to take into account consumers' income.

Blank 1: pricing or prices

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:

consumer behavior

Mass marketing means that products and promotions are developed in order to please:

large groups of people

Changes in an individual's behavior resulting from previous experiences is:

learning

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

price

Marketing is the activities, sets of institutions, and processes that add ______ for customers.

value

Auto companies truly seem to be listening to customers who are environmentally concerned by offering more fuel-efficient cars. They are adjusting the element of the marketing mix to meet customer needs.

Blank 1: product

Sociocultural, competitive, economic, global, and technological influences are all factors influencing:

the marketing environment

There are relatively few customers in the B2B market because there are just a few construction or mining companies compared to 80 million households in the U.S. market.

Blank 1: consumer or B2C

Marketers should gather data first because it is already available and to avoid incurring unnecessary expense.

Blank 1: secondary

True or false: Culture is the set of values, attitudes, and ways of doing things that are transmitted from one generation to another in a given society.

True

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

True

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

change is occurring more rapidly the Internet gives consumers information instantly

Select all that apply The B2B market includes:

institutions manufacturers government

Select all that apply Promotion involves:

motivating potential customers to buy informing people about products

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

promotion

Globalization can create more opportunities for marketers but along with that comes more pressure because they must take into account the

differing attitudes and values of various country cultures

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

product

Select all that apply A product includes anything that would enhance it in the eyes of consumers, such as the:

warranty package brand

The production era philosophy was to produce as much as possible because the was unlimited.

Blank 1: demand or market

is a persuasive form of communication that informs people and motivates them to buy products and services.

Blank 1: Promotion

Select all that apply Which of the following are considered examples of geographic segmentation?

by states by city by region

The marketing concept that states that a business must find out what consumers want and provide it for them is called the:

customer orientation

Marketers who want to avoid incurring unnecessary expenses when researching data should first gather:

secondary data

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

Education Age Income

True or false: Changes in an individual's behavior resulting from previous experiences and information creates culture.

False

True or false: Grouping two or more products together and pricing them as a unit is called stacking.

False

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?

Geographic

The set of values, attitudes, and ways of doing things transmitted from one generation to another is:

culture

When marketers adapt their products by offering less expensive products that are tailored to consumers with modest incomes, they are paying close attention to:

economic factors

Compared to the 80 million or so households in the U. S. consumer market, there are:

fewer customers in the B2B market

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

meet consumer needs

It is unusual for a company to sell:

one product

One of the fastest-growing segments of the U.S. population is:

over 65

Select all that apply When setting price, a company must consider many factors including the costs of:

production distribution promotion

When businesses developed mass-production techniques and capacity exceeded immediate demand, the:

selling era began

The marketing concept that relates to the idea that the entire organization must be focused on customer satisfaction is called the:

service orientation

Marketers must pay attention to the dynamic competitive environment mainly because of competition from:

the internet

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..

Blank 1: production

The individuals or households that want goods and services for personal consumption or use, and have the resources to buy them are part of the:

consumer market

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

marketing

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

Blank 1: 65

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

Blank 1: 65

The -to- market includes manufacturers, intermediaries, hospitals, schools, charities, and the government

Blank 1: business or B Blank 2: business or B

Consumer behavior is the study of people's decisions and the factors that influence those decisions.

Blank 1: buying, purchasing, or purchase

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

Blank 1: consumer

As the slowed, marketers had to adapt by offering products that were less expensive and more tailored to consumers with modest incomes.

Blank 1: economy

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

Blank 1: environment

People over 65 have become one of the growing segments of the U.S. population.

Blank 1: fastest

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

Blank 1: geographic

In a global market, marketers must be sure to dialogue with customers to ensure they understand about the and they want.

Blank 1: goods or products Blank 2: services

Changes in an individual's behavior resulting from previous experiences and information is

Blank 1: learning

There is a wider variety of careers in than in most business disciplines

Blank 1: marketing

In setting a product's , a business needs to take into account the costs of producing, distributing, and promoting the product as well as a profit margin

Blank 1: price

Often secondary data does not provide all the information managers need for decision making, and they must gather data.

Blank 1: primary

When production capacity exceeded the immediate market demand, the business philosophy changed from the production era to the era.

Blank 1: selling or sales

The emphasis in those firms with a customer orientation is to meet consumer rather than on promotion and sales.

Blank 1: wants, needs, demand, or expectations

These people perform many of the activities required to move products efficiently from producers to consumers or industrial buyers and are often wholesalers or retailers.

Intermediaries

Many customers value "green cars" because of the positive environmental aspects and the savings from better gas mileage. The marketing mix factor that represents the value of the product is ______.

Price