Ch. 11

When segmenting a market, a(n) ______ 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

Segmenting facial products by sex, age, and race is an example of _____ segmentation.

demographic

A marketing strategy has two major components: selecting a target market, and ______.

developing an appropriate marketing mix

Instead of selling your product throughout the United States, you might concentrate on one or two regions. This is an example of _____ segmentation.

geographic

Marketers of _____ include political parties, churches, and schools.

ideas

Concepts, philosophies, images, and issues are all ______.

intangible ideas

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

New technologies such as electricity and railroads allowed the ______ orientation to flourish by allowing goods to be manufactured with increased efficiency.

production

Dividing the market using a group's personality characteristics, motives, and lifestyles is _____ segmentation.

psychographic

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(n) _______ is the application of human and mechanical efforts to people or objects to provide intangible benefits to customers.

service

University student, mother, and sister are examples of ________ roles that influence buying behavior.

social

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

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

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

A customer's subjective assessment of what they receive relative to costs in determining the worth of an item is referred to as ______.

value

Customer benefits subtracted by customer costs = customer _____.

value

In the United States ______ are the largest market segment.

women

________ segmentation involves some characteristic of the consumers' behavior toward the product.

Behavioristic

_____ behavior is the decision process and actions of people who purchase and use products.

Buying

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 do marketers usually view as a persuasive marketing activity accomplished through promotion?

Selling

Which marketing function takes on significant importance when dealing with seasonal fruits and vegetables that offer a short shelf life and selling opportunity?

Storing

True or false: A marketer must understand the needs of the buyer in order to determine what products to make available.

True

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

_____ combines sight, sound, and animation to facilitate testing of concepts as well as packaging and design features.

Virtual testing

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.

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

Characteristics that commonly involve some aspect of product use is _____ segmentation.

behavioristic

The decision processes and actions of people who purchase and use products is referred to as ________ behavior.

buying

True or false: If a business wants to achieve its objectives, it simply needs to create an innovative product.

False

Select the three variables that are part of psychographic segmentation.

- Personality - Motives - Lifestyles

Which four elements make up the marketing mix?

- Product - Price - Distribution -Promotion

Which of the following are social factors that influence how, why, and when a consumer may buy a product or service?

- Reference groups - Social classes - Culture

Which two terms best describe the process of gathering market research about potential customers that will help guide marketing decisions?

- Systematic - Objective

_____ is making products available in the quantities desired.

Distribution

What is the central focus of all marketing activities?

The buyer

_____ is the process of moving products from a seller to a buyer.

Transporting

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

A basic philosophy that guides all marketing activities is the _____ concept.

marketing

The factors that go into a marketing program—product, price, distribution, and promotion—are called the ______ mix.

marketing

Marketing _____ is a systematic, objective process of gathering information about potential customers.

research

Today some people still inaccurately equate marketing with a _______ orientation.

sales

Interactive multimedia research is also known as ________ _________.

virtual testing

Which of the following can be defined as "services"? (Select all that apply)

- A physical examination - Dry cleaning - Doggie day care

Which of the following are included in promotion? (Select all that apply.)

- Advertising - Personal selling - Publicity - Sales promotion

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

Marketing focuses on a complex set of activities that must be performed to accomplish objectives and generate exchanges. These activities include ______. (select all that apply)

-Risk taking -Researching -Selling

Dividing the market into groups whose members have similar characteristics is ______.

marketing segmentation

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 defined as the act of bringing about changes in a person's behavior based on information and experience.

Learning

This psychological factor is defined as an inner drive that directs a person's behavior toward goals.

Motivation

_____ is the inner drive that directs someone toward a goal—possibly buying a home--to fulfill that drive.

Motivation

Which of the following best describes the concentration segmentation approach?

One marketing strategy for a single market segment

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

Which of the following is least likely to be part of promotion?

Pricing

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

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

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

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

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 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

A(n) _____ strategy is a plan of action for developing, pricing, distributing, and promoting products.

marketing

Functions of _____ include buying, selling, transporting, and storing goods for an organization in order to accomplish objectives and generate exchanges.

marketing

The group of activities that includes creating, distributing, pricing, and promoting a good or a service is referred to as ______.

marketing

The idea that a business or organization should try to satisfy customers' needs through activities that also allow it to achieve its own goals is known as the ________ concept.

marketing

Political, legal, regulatory, social, competitive, economic, and technological forces comprise the ______.

marketing environment

When a UPS store targets consumers for shipping products around the holidays but targets businesses for everyday shipping needs, it is using a(n) _____ approach.

multisegment

Distribution is sometimes referred to as ________ in the marketing mix.

place

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

Any physical good, service, or idea that satisfies a want or need is a(n) _________.

product

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