Chapter 13

The B2B market includes:

- institutions - government - manufacturers

Choose the secondary sources of data collection from the list.

Government publications Magazines

Marketers must pay attention to the dynamic competitive environment because:

change is occurring more rapidly the Internet gives consumers information instantly

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

fastest

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

List the four steps of the marketing research process in order from first to last.

1. defining the question 2. collecting research data 3.analyzing the research data 4. choosing and implementing the best solution

The process of learning as much as possible about present customers and doing everything you can over time to satisfy them is:

CRM

States use marketing to attract many groups. Choose the two main groups from the list that states try to attract:

New businesses Tourists

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

Promotion

What is the set of values, attitudes, and ways of doing things that results from belonging to a specific ethnic, racial, or other group called?

Subculture

Which of these are sources of primary data collection?

Surveys Focus groups

Studying the thought processes people use to make buying decisions and the factors that influence their choices is behavior.

consumer

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

consumer

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

Problem recognition, information search, evaluation of alternatives, purchase decision, and post purchase evaluation are the steps in the:

consumer decision-making process

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 B2B market is larger than the market.

consumer or B2C

Focusing on profit allows an organization to serve and expand to serve more wants and needs.

consumer or customer

The consumer market consists of 80 million households, but there are fewer in the B2B market of an industry like auto manufacturing.

customers, firms, companies, or buyers

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

demand or market

Using age, income, gender, and education to divide the market is:

demographic segmentation

Age, education level, income, and taste are all examples of how consumer groups:

differ greatly

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

In the United States many, but not all companies have evolved by passing through the four of marketing.

eras

A focus group is a group of people who meet under the direction of a discussion leader and:

express their concerns about specific issues express their opinions about an organization or product

The B2B market not only includes manufacturers, intermediaries, and institutions, but also at the federal, state, and local levels.

governments

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

information or data

Getting products to consumers when and where they are wanted is critical to market success. Many times it is the responsibility of:

intermediaries

Dividing the market into groups whose members have similar characteristics is:

market segmentation

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

marketing

With marketing research, marketers analyze markets to determine:

opportunities and challenges

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.

price

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

primary

Data that you gather using sources like surveys, focus groups, and interviews is called:

primary data

Food companies truly seem to be listening to customers who want healthy fast-food that is preservative, chemical, and antibiotic free. They are adjusting the element of the marketing mix to meet customer needs.

product

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

production

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..

production

The belief that companies should produce as much as they can because there is limitless market for products was the philosophy during the:

production era

Business buyers are generally more ______ and less emotional than household consumers.

rational

A group is a group that you look up to in forming your beliefs, attitudes, values, or behaviors.

reference

A group such as a group of friends, that an individual uses as a focal point in forming beliefs, attitudes, values, or behaviors is a group.

reference

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

research

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

secondary

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

secondary

Information that has already been compiled by others and published in journals, books, or online is called:

secondary data

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

service orientation

B2B sales are based on selling because there are fewer customers and they demand more personal .

service, attention, relationships, or relations

Education, freedom, and diversity are of the U.S. culture.

values

Dividing the market by the amount of a product used is segmentation.

volume or usage

Companies that are unable to change their production era marketing methods:

do not evolve to more effective customer relationships

Many customers value fast, fresh, flavorful food that is free of preservatives, chemicals, and antibiotics. The marketing mix factor that represents the value of the product to a customer is:

price

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

pricing or prices

Telephone surveys, online surveys, mail surveys, and personal interviews are the most common forms of gathering:

primary data

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

product

A vital component of marketing is ______, which involves letting customers know the benefits of the product/service, where you can buy it, and describing the value proposition of the product/service.

promotion

Dividing the market based on a groups values, attitudes, and interests would be considered:

psychographic segmentation

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

over 65

The key first step of the market research process is:

defining the questions and determining the present situation

In customer relationship management, you do everything you can to satisfy customers, or even to their expectations.

exceed, surpass, or pass

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

the marketing environment

The key advantage of secondary data is that the cost of collecting the data is than for primary data.

cheaper, lower, or less

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

True

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

True

A small group of people who meet under the direction of a discussion leader to communicate their opinions about a product is a group.

focus

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 and information is .

learning

Compared to the consumer market, buyers in the B2B market tend to be:

geographically concentrated

One reason that the B2B market is larger than the consumer market is that:

large businesses produce most of the goods and services

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

learning

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

niche

The segmentation method that develops or finds products for small, but profitable market segments is:

niche marketing

When you need more in-depth information, marketers must develop their own research and obtain data.

primary

The set of values, attitudes, and ways of doing things that differentiate a group as belonging to a certain ethnic, racial, or other group is a(n) .

subculture

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

wants, needs, demand, or expectations

Dividing the market based on specific features of the product preferred by your target market, such as flavor, is segmentation.

benefit

The segmentation technique where the product features appeal to certain groups is:

benefit segmentation

The culture of which country emphasizes the values of education, freedom, and diversity?

United States

The key objective of the service orientation in the marketing concept is:

customer satisfaction

The marketing concept that states that the organization should focus on those goods and services that earn the most and will enable the organization to survive and expand is called the:

profit orientation

List the steps of the consumer decision-making process from first to last with the first step on top and the last step on the bottom.

1.) Problem Recognition 2.) Information Search 3.) Alternative Evaluation 4.) Purchase Decision 5.) Postpurchase evaluation

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 or service

True or false: The business philosophy that emphasized selling and advertising in an effort to persuade consumers to buy existing products occurred during the production era.

False

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

culture

The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is called .

marketing

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

marketing

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

marketing

State governments use to compete with other states and countries to locate businesses in their areas.

marketing or incentives

Using the same products and promotions to appeal to large groups of people is:

mass marketing

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

meet consumer needs

Data that you gather yourself to meet a specific need is called data.

primary

Any physical good, service, or idea that satisfies a want or need is a .

product

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 requirements in delivering products to countries outside of the U.S.

The segmentation technique that divides the market by the amount of a product used is:

volume segmentation

Customer orientation is finding out what the consumers and providing it for them.

want, prefer, need, or value

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

Blank 1: marketing Blank 2: mix

is the set of values, attitudes, and ways of doing things passed from one generation to another in a given society.

Culture

Why are B2B sales based on personal selling?

Customers demand personal service for larger investments Large purchases cost more and are complex

What are some of the activities involved in marketing?

Developing the exchange process Advertising

Pick out the influences in the marketing environment.

Economic Global Competitive

Which of the following criteria are considered examples of demographic segmentation?

Education Age Income

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

False

True or false: The process of dividing the total market into groups with similar characteristics is called target marketing.

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

Identify some of the factors used to divide the market in psychographic segmentation.

Interests Attitudes

Business buyers use which of the following to make decisions?

Product specifications Rational processes Total product offer

Which of the following are considered examples of geographic segmentation?

by region by city by states

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

fewer customers in the B2B market

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

secondary data

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

segment, target, or divide

The process of dividing the total market into groups whose members have similar characteristics is market .

segmentation

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

selling era began

When values, attitudes, and ways of doing things result from belonging to a specific ethnic, racial, or other group that one identifies closely with, it is termed a(n):

subculture

Conducting , whether telephone, online, or mail, is a popular source of primary data.

surveys

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

the internet

The B2B market is larger than the consumer market because items are often sold and resold several times before they reach the final .

consumer, customer, or user

When setting price, a company must consider many factors including the costs of:

distribution production promotion