Ch.11 Review

(True or False) Demographic segmentation refers to dividing the market based on where consumers live.

False

Keitras is a women's apparel store that specializes in winter clothing. It targets university students aged 20-25 with its trendy collection of sweaters, sweatshirts, stockings, and stoles. In the context of consumer market segmentation, which of the following types of market segmentation does Keitras most likely follow?

Demographic segmentation

(True or False) . Your target market is the group of people who are most likely to buy your product.

True

(True or False) A marketing plan is a formal document that defines marketing objectives and the specific strategies for achieving those objectives.

True

(True or False) Form utility satisfies wants by converting inputs into a finished form.

True

(True or False) In the context of marketing research, secondary data is existing data that marketers gather or purchase for a research project

True

(True or False) Primary data is the new data that marketers compile for a specific research project.

True

(True or False) The marketing concept holds that delivering unmatched value to customers is the only effective way to achieve long-term profitability.

True

(True or False) The price of a product must be relative to the benefits of that product.

True

(True or False) The social/cultural element of the marketing environment covers a vast array of factors, including lifestyle, customs, language, attitudes, interests, and population shifts.

True

(True or False) Through the use of technology, marketers can lower costs and deliver greater value to their customers.

True

Monitoring and predicting consumer behavior is an objective of _____.

marketing research

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

mass customization

(True or False) The commerce ministry of Setina Islands, a tax haven country, has been advertising the country's business opportunities and tourist-friendly culture in various international magazines. The advertisements illustrate idea marketing.

False

(True or False) The marketing concept has gathered momentum across the economy, leading to the marketing era, unfolding over the last decade, which zeros in on long-term customer relationships.

False

Habetts, a company that sells cell phone accessories, introduced a new range of cell phone covers in various patterns that read the following: "I don't drink and drive because I love my family." Which of the following marketing strategies does this scenario best illustrate?

Idea marketing

Which of the following is an example of survey research?

Online questionnaires

Spalkyn, a footwear company, allows its customers to shop online on its website or mobile app or at its physical stores. At the company's physical stores, customers are given the option to pick up their products or have them delivered. In the context of marketing, which of following utilities does Spalkyn most likely provide?

Ownership utility

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

a focus group

The _____ is a business philosophy that makes customer satisfaction—now and in the future—the central focus of the entire organization.

marketing concept

Understanding the _____ begins with analysis of market share.

competitive environment

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

Neone is an energy drink manufacturer. The marketing strategies of Neone are focused on males who are in the age group of 16 to 25 years and who enjoy sports and other outdoor activities. The company advertises its products at skateboard parks, basketball venues, and ski resorts. The customer group that Neone focuses on is called its _____.

target market

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

Consumer behavior

_____ is the ongoing process of acquiring, maintaining, and growing profitable customer associations by delivering unmatched value.

Customer relationship management

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.

Katherop, a company that manufactures and supplies baby clothes, conducts a charity program every year to distribute free products to the underprivileged children in rural areas. The company advertises this program to gain attention of its customers. Which of the following marketing strategies does this scenario best illustrate?

Event marketing

(True or False) Escribo Marketing holds annual blood donation camps and conducts other similar charitable events in educational institutions. Escribo Marketing is using people marketing.

False

(True or False) In the context of the marketing mix, the distribution strategy includes all of the ways that marketers communicate about their products.

False

(True or False) People marketing involves drawing people to a particular place.

False

(True or False) Recycle, don't drink and drive, buckle your seatbelt, support our political party, donate blood, and don't smoke are all examples of popular causes that use event marketing.

False

(True or False) Survey research is the marketing research that does not require the researcher to interact with the research subject.

False

Jared Elmer is the presidential candidate of National Ernest Party, a political party. The party's election campaigns have been focusing on projecting Jared's educational qualifications, political background, ancestral glory, etc. Which of the following marketing strategies do the election campaigns illustrate? a. Place marketing

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

Jackson runs a chain of small retail stores called Wandmin that sells bottled water, fresh juices, desserts, and some snacks. All outlets of Wandmin are either in the middle of or at the end of walking trails in Jackson's hilly hometown, where several tourists go hiking. In the context of marketing, which of following utilities does Wandmin most likely provide?

Place utility

Walt owns an auto repair shop in Northern Rottasa. He goes an extra mile to please his customers by providing comfortable and attractive waiting rooms, friendly service, and long-term warranty on all repair work. Which of the following philosophies has Walt employed to make his customers highly satisfied?

The marketing concept

Coastharp, a furniture e-commerce website, allows its customers to book one-hour slots during which they wish to get their furniture delivered. They can also book another one-hour slot to get the delivered furniture assembled at their convenience. The company holds back orders and delays deliveries when customers are not available to receive them. In the context of marketing, which of the following utilities does Coastharp most likely provide through its service?

Time utility

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 strategy