CHAPTER 13

The U.S has passed through 4 eras

1) production 2) selling 3) marketing concept 4) customer relationship

Important functions of marketing are to:

deliver the product/service facilitate exchange communicate the benefits of the product/service

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

true

In the B2B market, industrial goods and services are those that companies purchase in order to

use them to to produce other goods and services sell, rent, or supply goods to others

How's nonprofit organizations and marketing?

Although marketing emphasizes profit orientation, marketing is critical for all organizations to reach certain goals/ Ex. Charities use marketing to raise funds for combating world hunger

How has marketing changed over the years?

In the past marketing was focused on helping the seller sell, nowadays, marketing helps the buyer buy

Why getting products to the right place includes intermediaries?

Intermediaries are the middle links of organizations that distributes goods from producers to consumers. Their critical to business succes because they get the products tp consumers when and where they want it

The marketing concept era

Marketing concept had 3 parts 1) customer orientation: meeting consumer needs and satisfy them 2) service orientation: the objective is customer satisfaction 3) profit orientation: the organization focuses on goods/services that are profitable because it will help hem survive and satify customers' wants and needs

What is marketing doing to help the buyer buy?

by making the purchase decision process easier such as having competitive prices, and offering a variety of products that fits their needs.

Marketers often need to differentiate the various consumer groups because they differ greatly by age, education, income, and taste in order to

develop products for separate groups

Shifts in the U. S. population have created new challenges for marketers as they adjust their products to meet the tastes and preferences of the growing number of:

ethnic groups

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

marketing

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

niche marketing

The customer relationship management era (CRM)

process of learning as much as possible about present customers and doing everything you can over time to satify them with goods and services *goal of this era was to enhance customer satisfaction and create long term customer loyalty

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

product

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 organization

The emerging mobile/on-demand marketing era

seach technologies have made product information pervasive. digital technology grows and customer demands are expected to grow in 4 areas 1) consumers want to interact anytime, anywhere 2) consumers want to have different kinds of information that will create value for them 3) personalized experience 4) consumers expect interaction to be simple

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

secondary

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

secondary data

When a business selects groups or segments that they can serve most profitably, this is called:

target marketing

The production era

the philosophy was to produce as much as you can because there is unlimited market for it. business owners needed to produce more and more so their goals centered on production

The selling era

the philosophy changed from producing to selling

Marketing

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.

When a tire manufacturer sells directly to an auto manufacturer, the tire manufacturer has used an intermediary.

false because Manufacturers use wholesalers and retailers as intermediaries in the B2B environment.

Secondary sources of data collection

magazines government publications