SB Chapter 11
Instead of selling your product throughout the United States, you might concentrate on one or two regions. This is an example of _____ segmentation.
geographic
A more specific group of consumers on whose needs and wants a company focuses its marketing efforts is referred to as a(n) _____ market.
target
The process of moving strawberries, blackberries, and raspberries from Portland Fresh and Ready Farms to the farmer's market where customers will purchase them, is a marketing activity called ______.
transporting
Marketing focuses on a complex set of activities that must be performed to accomplish objectives and generate exchanges. These activities include ______.
Selling Risk taking Researching
Which marketing function takes on significant importance when dealing with seasonal fruits and vegetables that offer a short shelf life and selling opportunity?
Storing
What do marketers usually view as a persuasive marketing activity accomplished through promotion?
Selling
A market is defined as ______.
a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas
Any physical good, service, or idea that satisfies a want or need is a(n)
product
In marketing terms, when you pay the cashier money for the items you purchase at a store, it is an example of a(n) _____.
exchange
A _____ is a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas.
market
A ______ orientation requires organizations to gather information about customers in order to build long-term relationships with them.
market
A(n) _____ strategy is a plan of action for developing, pricing, distributing, and promoting products.
marketing
The four activities that are part of the marketing process are also referred to as the _____ mix.
marketing
B2B marketing
marketing products to customers who will use the product for resale or in the making of other products
A systematic, objective process of getting information about potential customers to guide marketing decisions is the definition of ______.
marketing research
A total-market approach is also referred to as ______.
mass marketing
Groups with whom buyers identify and whose values or attitudes they adopt are referred to as _______ groups.
reference
By the _____, some businesspeople began to recognize that efficient production and extensive promotion did not guarantee sales and the marketing era was born.
1950s
Promotion includes which of the following? (Select all that apply)
Advertising Sales promotion Publicity Personal selling
Which of the following are social factors that influence how, why, and when a consumer may buy a product or service?
Culture Reference Group Social Class
_____ is the standardizing of products by dividing them into subgroups and displaying and labeling them.
Grading
When segmenting a market, a _____ approach is used when a company develops one marketing strategy for a single market segment. Confidence Level
concentration
A marketing strategy has two major components: selecting a target market, and ______.
developing an appropriate marketing mix
Twitter, Facebook, and LinkedIn are often good substitutes for ______.
focus groups
Marketers of _____ include political parties, churches, and schools.
ideas
Telephone surveys and mystery shoppers are two methods of gathering _____ data.
primary
Today some people still inaccurately equate marketing with a _______ orientation.
sales
the application of human and mechanical efforts to people or objects to provide intangible benefits to customers.
service
A ranking of people into higher or lower positions of respect is known as ______.
social classes
Customer benefits subtracted by customer costs = customer _____.
value
_____ combines sight, sound, and animation to facilitate testing of concepts as well as packaging and design features.
Virtual testing
_____ segmentation involves some characteristic of the consumers' behavior toward the product.
behavioristic
New technologies such as electricity and railroads allowed the ______ orientation to flourish by allowing goods to be manufactured with increased efficiency.
production
If you open a pizza restaurant and assume that all potential customers have similar needs and wants, you are using a ______-_____ approach to define your target market.
total-market
A company has a product that is geared toward 18-21 year-old women, who are all college students. This group would be considered a(n) ______ segment.
market
Dividing the market into groups whose members have similar characteristics is ______.
market segmentation
Marketing _____ is a systematic, objective process of gathering information about potential customers.
research
A manufacturer of educational toys for children ages 2 to 4 wants to develop a marketing strategy to focus on just this segment. Which market segmentation approach would the firm most likely use?
Concentration approach
_____ is making products available in the quantities desired.
Distribution
True or false: If a business wants to achieve its objectives, it simply needs to create an innovative product.
False
True or false: Products are manufactured for either B2B markets or B2C markets, but never geared towards both.
False
For which function of marketing does this statement describe: For many products, especially large items such as automobiles, refrigerators, and new homes, the marketer arranges credit to expedite the purchase.
Financing
What are some of the sample variables under demographic segmentation?
Gender, age, education, income
In order to implement the marketing concept, which is essential to have?
Good information about consumer desires
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
Intermediaries most likely assist with which four activities?
Inventory control Materials handling Warehousing Transporting
Rashmi always used to shop at a particular clothing store. However, the last two times she shopped there, the staff was rude and they didn't have much stock on hand. Consequently, Rashmi is trying out new stores to shop at. Which psychological factor is at play in this scenario?
Learning
This psychological factor is the process by which a person selects, organizes, and interprets information received from his or her sense, as when experiencing an advertisement or touching a product to better understand it.
Perception
____ is the process by which a person selects and interprets information through senses about the quality of new towels or features of a new computer.
Perception
Due in part to the Industrial Revolution and the demand for manufactured goods, this orientation was prominent in the second half of the 19th century.
Production orientation
Which of the following is not a typical marketing task of an organization?
Purchasing a product or service
Marketers expedite the exchange process by using promotion activities to persuade a customer to purchase a product. This is the essence of which function of marketing?
Selling
What is the central focus of all marketing activities?
The buyer
_____ is the process of moving products from a seller to a buyer.
Transporting
True or false: A marketer must understand the needs of the buyer in order to determine what products to make available.
True
When segmenting a market, a ______ approach is used when a company develops one marketing strategy for a single market segment.
concentration
A _____ is anyone who shops for products and decides whether and what to buy.
consumer
Deodorants, shampoo, and conditioner are often marketed and packaged differently to men than to women. This is an example of market segmentation using _____ variables.
demographic
All of the following factors can be used to segment a market by psychographic factors EXCEPT ______.
education
At the heart of all business is the _____, the act of giving up one thing (money, credit, labor, goods) in return for something else (goods, services, or ideas).
exchange
Political, legal, regulatory, social, competitive, economic, and technological factors are all _______ forces that influence the development of marketing strategies.
external
Dividing a market by cities, counties, states, or regions is an example of using _____ variables for market segmentation.
geographic
When men's dress shirts are divided and separated by size as well as color and brand name, it can be said that they are being ______.
graded
Concepts, philosophies, images, and issues are all ______.
intangible ideas
A basic philosophy that guides all marketing activities is the _____ concept.
marketing
Functions of _____ include buying, selling, transporting, and storing goods for an organization in order to accomplish objectives and generate exchanges.
marketing
Dewayne's family, his National Society of Black Engineers of America professional group, and the Rotary organization to which he belongs are _____ groups that may influence his buying decisions.
reference
After a period of intense demand and production of goods, supply began to exceed demand. Businesspeople realized that they would have to make a concerted effort to sell products and began advertising. This describes the ______ orientation.
sales
The process of dividing the total market into groups whose members have similar characteristics is market _____
segmentation
A good outcome from using _______ networks is the opportunity to reach new voices and gain varied perspectives on the creative process of developing new products and promotions.
social
A customer's subjective assessment of what they receive relative to costs in determining the worth of an item is referred to as ______.
value
Interactive multimedia research is also known as
virtual testing
In the United States ______ are the largest market segment.
women
Joe's Taco cart, which has always sold 100 percent pure beef tacos, develops three new taco varieties for the growing group of vegetarian students who come by daily. Joe still advertises his beef tacos but has also developed a mini-campaign to pitch the veggie tacos. Joe is using a(n) _____ market segmentation approach.
multisegment
When a UPS store targets consumers for shipping products around the holidays, but targets businesses for everyday shipping needs, it is using a(n) ______
multisegment approach
Distribution is sometimes referred to as _____ in the marketing mix.
place
Which of the following can be defined as "services"? (Select all that apply)
Dry cleaning A physical examination Doggie day care
Which of the following are external influences in the marketing environment?
Economic Legal Competitive Social
A watch manufacturer makes high-end watches and markets them to high income professional businessmen. The price of its watches range from $2,000 to $20,000. Because of this, the company only advertises in niche market publications that cater to this audience. In this scenario, identify what the central focus should be for this company's marketing activities.
High-income professional businessmen
Which orientation is best described as first determining what customers want and then produce it, rather than making the products first and then trying to persuade customers that they need them.
Market orientation
_____ is the inner drive that directs someone toward a goal—possibly buying a home--to fulfill that drive.
Motivation
Select the three variables that are part of psychographic segmentation.
Motives Lifestyles Personality
Westwood Furniture Store realizes that many of its customers buy several pieces of furniture at one time and may not have immediate cash to pay for the purchase. Therefore, Westwood offers credit services where customers can pay for their purchase over time. To entice customers to shop Westwood also offers "no money down" and "no interest" options. This relates to the ______ function of marketing.
financing
_____ is a persuasive form of communication that attempts to expedite a marketing exchange by influencing individuals, groups, and organizations to accept goods, services, and ideas.
Promotion
Which two terms best describe the process of gathering market research about potential customers that will help guide marketing decisions?
Systematic Objective
B2C marketing
marketing products directly to the end consumer
This psychological factor is defined as knowledge and positive or negative feelings a person has about something.
Attitude
This psychological factor is defined as the act of bringing about changes in a person's behavior based on information and experience.
Learning
Which three terms accurately describe primary data?
Observed directly Recorded Collected directly
Which of the following best describes the concentration segmentation approach?
One marketing strategy for a single market segment
True or false: Time utility has to do with selling an item or service in a timely manner and relates to the storing function of marketing.
True
In the first half of the 20th century, business people who adopted the sales orientation perspective believed the most important marketing activities were personal selling and ______.
advertising
Knowledge and the positive or negative feelings a person has about something is referred to as
attitude
Motivation is an inner drive that directs a person's ______ toward goals.
behavior/action
A face cream that reduces wrinkles is marketed to women looking for anti-aging products. This type of benefit segmentation is related to ______ segmentation.
behavioristic
The goal of a market orientation is to ______.
build long-term customer relationships
The decision processes and actions of people who purchase and use products is referred to as
buyer behavior
_____ behavior is the decision process and actions of people who purchase and use products.
buying
Because it relates directly to the generation of revenue, ______ is considered a key element of the marketing mix.
price
Since it represents the measure of value used in an exchange, ______ is the marketing mix element that is the basis of most market exchanges.
price
Automobile companies truly seem to be listening to customers who are environmentally concerned by offering more fuel-efficient cars. Companies are adjusting the ______ factor of the marketing mix.
product
In the United States, people are often referred to as being part of the upper, middle, or lower class. These groupings signify ______ classes.
social
University student, mother, and sister are examples of _____ roles that influence buying behavior.
social
American Girl manufactures dolls for young girls between the ages of 3 and 12. This specific group of consumers is the company's _____ market.
target