Intro to Business chapter 11

Business to Business _______ refers to divding the marker based on the charcteristics of buyers.

Customer-based-segmentation

Int he context of primary research tools, which of the following is an advantage of observation research over survey research?

It allows you to notice what people actually do and not what they say they do.

A marketing plan is a formal document that defines marketing objections and the specific strageies for acheiving those objectives. T or F

T

Form utility satisfies wants by convertin inputs into a finished form. T or F

T

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

T

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

T

The marketing concept holds that delivering unmatched value to customers is the only effective way to acheive long-term profitability. T or F

T

The social/cultural element of the marketing environment covers a vast array of factors, including lifestyles, customs, language, attitudes, interests, and population shifts. T or F

T

With it comes to creating customer satifsfaction, perceived value is just as important as actual value. T or F

T

Your target market is the group of people who are most likely to buy your product? T or F

T

In the context of marketing research data, if the marketer of a company wants to gather secondary data, he or she should use________.

The company's product sales history.

In the context of the evolution of marketing, which of teh following statements is true of business in the relationship era?

They retain their current customers as it is cost-effective.

Which of the following utilities satisfies wants by providing goods and services at a convenient period for customers?

Time utility

______ is created when your customers belive that your product has a better relationship between cost and the benifits than any competior.

Value

which of the following statements is true of customer relationship managment?

CRM works best when marketers combine arketing communication with one-on-one personalization.

Companies employ _______ when they actively promote the ecological benifits of their products.

Green marketing

_______ is the ongoing process of aquiring, maintaing, and growing profitable customer association by delivering unmatched value.

customer relationship managment

Marketers who cannot forge a close personal bond with every customer but actively gather data and pursue a conncetion with customers who initiate cantact hava a ______ with the customers.

limited relationship

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

market segmentation

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

Distribution strategy

Cognitive dissonance is the payoff for delicering value and generating satisfation. T or F

F

In the context of the marketing mix, the distrubution strategy includes all of the ways that marketers communicate about their products. T or F

F

People marketing involved drwing people to a partivular place. T or F

F

Survey research is teh marketing research that does not require the researcher to interact with the researcg subject. T or F

F

demographic segmentation refers to diving the market based on where consumers live. T or F

F

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

Good accessibility

Which of the following is a drawback of primary data?

It tends to be expensive

Which of the following is the key downside of survey research?

Many people are not honest about their experiences and opinions.

The internet has opened the door for _____, which is creating products tailored for individual customers on a large scale.

Mass customization

Which of the following are the best two basic categories of primary research?

Observation research and survey research

Which of the following is an example of survey research?

Online questionnaires

Paris Hilton declaring "I am a marketing genius" is an example of ____.

People marketing

Which of the following marketing strategies can be best employed for attracting tourists?

Place marketing

Which of the foloowing characteristics of a well-chosen target market must be willing and able to spend more than the cost of producing and marketing a product?

Profitability

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

Promotion strategy

Less savvy marketers fall into one of two traps - overpromising or underpromising-when trying to_____.

acheive customer satisfaction

_____ is the best description of how people act when they are buying, using, and discarding goods and services for their own personal consumption.

consumer behavior

In the context of the marketing environment, the only certainty in the ____- is change, but the timing of expansions and contractions is virualy impossible to predict.

economic environment

During the selling era of marketing, suppply in many categories exceeded demand. This led to the:

emergence of hard sell

in the context of sutomer satisfaction, which of the following will happen if a marketer falls into the trap of underpromising?

fewer people will try the product.

in the context of marketing research data, an example of primary data is _______-.

focus group

In the context of social responsibility, enviromentally friendly fashion, such as clothing made of organic cotton, is an example of______.

green marketing

A whole range of public and private organizations market beliefs that are meant to change how people think or act. This refers to as_______.

idea marketing

Monitering and predicting consumer behavior is an objective of

marketing research

Which of the following satifies wants by providing goods and services at a convenient location for customers?

place utility

In the context of customer relationship managment (CRM), a firm selling a high-ticket product to a small customer base is likely to______.

pursue a full partnership with each of its key clients

_____ demands that marketers actively contribute to the needs of the broader community

social responsibility