Intro to Business - Chapter 11

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

Customer relationship management

Companies use marketing research to:

Identify external opportunities and threats.

During the 2016 presidential campaign, President Trump marketed himself as the way to "Make America Great Again." This is an example of _____.

People Marketing

In the context of marketing research data, if the marketer of a company wants to gather secondary data, he or she should use _____.

The company's product sales history

Which of the following statements is true of consumer markets versus business markets?

The distinction between these two market categories lies in how the buyer will use the product.

Lawrence recently bought a new luxury car, but he is not completely satisfied with it. He now wishes he had bought something that would have made a better impression on his colleagues. Lawrence's friend Howard, on the other hand, bought a secondhand sedan and is extremely happy with it. Howard becomes even more proud of his purchase when his friends compliment his car. From the marketing point of view, which of the following concepts has contributed to Howard feeling satisfied with his car?

The perceived value of the car

Which of the following utilities satisfies wants by providing goods and services at a convenient period for customers?

Time utility

In the context of market segmentation, a well-chosen target market should have _____.

An appropriate size

B2C refers to:

Business To Consumer

Which of the following elements are a personal influence on the consumer decision-making process?

Culture, Family, Friends

Up Town Market is a supermarket that sells good quality products and renders excellent client service. Up Town Market's membership program for regular clients offers good discounts on perishable products. Its popularity and business generally increase through word-of-mouth. Consumers who shop at Up Town Market rarely switch to another supermarket for their monthly grocery shopping. In the context of marketing, which of the following concepts does this scenario best illustrate?

Customer Loyalty

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

Gearjazz, a company that manufactures and sells musical instruments, aims to increase its popularity among music artists and enthusiasts by sponsoring the audio system for the music and arts festival being held in the town of Flavempia. Which of the following marketing strategies does this scenario best illustrate?

Event Marketing

Ella runs a handicrafts shop named Pentcrafto, where she sells home décor products made from recycled paper. In the context of marketing, which of following utilities does Pentcrafto's products most likely provide?

Form Utility

Renetoge is a company that manufactures wooden furniture and sells them to furniture retailers and e-commerce websites. The company gives discounts to its regular multinational clients when they buy in bulk. Relationship managers in Renetoge visit clients on a regular basis for discussions. In the context of customer relationship management, Renetoge most likely establishes _____ with its customers.

Full Partnership

Companies employ _____ when they actively promote the ecological benefits of their products.

Green Marketing

Horizon Inc., an automobile designer and developer, conducted a survey to understand customer requirements. With the help of the survey data, the company has manufactured cars that suit the needs of its customers. Its newly designed cars are integrated with an advanced technology that lets customers choose the color of the interiors. The company has also designed touchscreens to control the navigation and temperature in the cars. Which of the following concepts has Horizon Inc. employed?

Mass customization

The advertisements of bus tour operator companies in the city of Lubtilace increase the popularity of the city's tourist attractions. Bursilopp, a company that operates tourist buses across the city, shows the city's major tourist spots in its television advertisements. Which of the following marketing strategies does this scenario best illustrate?

Place Marketing

Which of the following utilities satisfies wants by providing goods and services at a convenient location for customers?

Place 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 year 1938, Popoud, a chocolate manufacturing company, was finding it difficult to trade its products because people were reluctant to spend money on nonessential goods. However, the company continued to manufacture chocolates in large quantities. In the context of the evolution of marketing, which of the following eras does this scenario most likely refer to?

Production Era

Debbilie, a chain of retail cosmetic stores, offers loyalty cards to its regular customers. The cardholders can earn points and get discounts for the purchases they make at any of the company's stores. In the context of the evolution of marketing, which of the following eras does this scenario most likely refer to?

Relationship Era

_____ demands that marketers actively contribute to the needs of the broader community.

Social Responsibility

Boncidio Inc., a cell phone manufacturer, introduced a new cell phone model. 85 percent of this phone is made from biodegradable materials. This product attracts customers who give importance to using environment-friendly products in their daily lives. In the context of social responsibility and technology, Boncidio best illustrates _____.

green marketing

Demographic segmentation divides the market based on:

measurable characteristics about people.