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