chapter one quiz
selecting which segments of a population to serve is called
target marketing
target marketing
target marketing Cathy's Clothes is a small yet successful retail chain that sells women's clothing and accessories with a focus on buyers who have relatively modest means. For this specific purpose, the firm has rolled out several marketing initiatives aimed at women of a specific demographic. This is an example of ________.
product
the _____ concept is aligned with the philosophy of continuous product improvement and the belief that customers will products that offer the most in quality, performance, and innovative features.
Marketing Management
the art and science of choosing target markets and building profitable relationships with them is
consider customer focus and value as the paths to sales the profits
the marketing concept
which of the following marketing orientations holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do
the marketing concept
which of the following uses a customer centered "sense and respond" philosophy rather than a product centered "make and sell" philosophy
the marketing concept
quality, performance, and innovative features
the product market
orientation calls for agressive promotional efforts and focuses on creating transaction rather than long term relationships
the selling concept
which of the following marketing orientations calls for aggressive promotional efforts and focuses on creating transactions rather than long term customer relationships
the selling concept
marketing mix
the set of marketing tools the firm uses to implement its marketing strategy
following the great recession, marketers focus on the ------- of their products
value
Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through ________.
value creation and exchange
set of benefits that a company promises to deliver to customers to satisfy their needs
value proposition
product concept
which of the following marketing management concepts is most likely to lead to marketing myopia
product concept
which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain
production concept
which of the following marketing management orientations focuses primarily on improving efficiency its along the supply chain?
value proposition
which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?
which of the following customer question is answered by a company's value proposition?
why should I buy your brand rather than a competitors
the primary key to delivering customer satisfaction is to match product performance with
with customer expectations
the selling concept
with goods that buyers normally do not think of buying
the selling concept is typically practices
with goods that buyers normally do not think of buying
determined by a customers evaluation and benefits and costs of a market offering relative to those of competing offers
costumer perceived value
when customers don't know what they want or don't even know whats possible, the most effective maketing strageity is
customer driven marketing
a total combine customer lifetime value of all the companies current and potential customers
customer equity
"losing a customer once means losing the entire stream of possible purchases that the customer would make over an extended period of patronage" this statement is specifically indicating loss in terms of
customer lifetime value
Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called ________.
customer relationship management
manage detailed information about individual customers and carefully manage customer touchpoint to maximize customer loyalty
customer relationship management
the societal marketing concept seeks to establish a balance between
customer short run wants and consumer long run welfare
which of the following statements is the production concept
it leads to companies focusing too narrowly on their own operations
Which of the following statements is true about the selling concept
it typically is practiced with unsought goods
Apart from retaining good customers, most marketers want to constantly increase their "share of customer." What does this mean in marketing terms?
marketers want to increase the share they get of the customers purchasing their products to cater the entire market
greater consumer control means that companies can no longer rely on
marketing by intrusion
Sense and respond philosophy
marketing concept
the art and science of choosing target markets and building profitable relationships with them is called
marketing management
the set of marketing tools a firm uses to implement its marketing strategy
marketing mix
a ----- is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want
marketing offering
customer driving
marketing strategy that is practiced by an organization that under stands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future needs
which of the following is the most likely result of a marketing strategy that attempts to serve all potential customers?
not all customers will be satisfied
the marketing concept takes an
outside in approach
the marketing concept takes an ______. it starts with a well defined market, focuses on customer needs, and integrates all the marketing activities that affect customers
outside in perspective
railroads were once operated based on the thinking that users wanted trains that would offer the most in quality, performance, and innovative features. the railroad managing companies overlooked the fact that there could be other modes of transportation. this reflects the _________ concept
product
the ------ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose produces that offer the most in quality, performance, and innovative features
product
renovations of the guest rooms at the seagull terrace and plans to add an indoor pool area are examples of the
product concept
what marketing management concepts leads to marketing myopia
product concept
Henry ford's philosophy was to perfect the model t so that its cost could be reduced further for increased consumption,er affordability. this reflects the ------ concept
production
Henry ford model t reflects the
production concept
improving efficiencies along the supply chain
production concept
leads to companies focusing too narrowly on their own operations
production concept
globalization of marketing causes
purchasing more supplies abroad
sustainable marketing
refers to socially and environmentally responsible marketing that meets the needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs
Target Marketing
selecting which segments of a population to serve
Jolene's firm markets preplanning services for a mortician. She finds that most of her target market wants to avoid discussing their future funeral needs, and she must somehow first get their attention. Jolene's firm is most likely practicing the ________.
selling concept
the portion of the customer's purchasing that a company gets in its product categories is known as
share of customer
societal marketing concept
some fast food restaurants offer tasty and convent food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. these fast-food restaurants overlooking the ------ concept
providers of raw materials and components to those involved in the delivery of final goods and services
supply chain management
loyal customers that are a drag and less profitable
barnacles
cross-selling
best ways to increase share of customer
aims at the product concept
focus on making continuous aim product improvement
customer type with high profitability and loyalty are
true friends
market segments
An organic farmer has identified three distinct groups that might be interested in his products: vegetarians, health-conscious individuals, and people identified as trendsetters who try out new products in the market before others. These three groups are examples of ________.
a firm that uses the selling concept takes an ------
inside out approach
in context of customer relationship groups, a potentially profitable and short term customer is referred to as a
butterfly
the final step of the marketing process is
capturing value from customers
customer driven marketing strategy
companies understand customer needs even better than customers do
which of the following is a characteristic of a customer driven marketing
companies understand customer needs even better than customers themselves do
what statement reflects the marketing concept
consider a customer focus and value as the oaths to sales and profits
the societal marketing concept seeks to establish a balance between
consumer short-run wants and and consumer long run welfare.
modern marketing DOES NOT
emphasize selling and advertising exclusively
which of the following is the aim of the product concept
focus on making continuous product improvements
marketing segments
groups of unique individuals that share common characteristics
marketer take in response to a new economy
hold the line on prices
a firm that uses the selling concept takes an
inside out approach