Intro To Business Chapter 13

Marketing is the activities, sets of institutions, and processes that add ______ for customers.

value

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

Promotion

The ______-to-______ market includes manufacturers, intermediaries, hospitals, schools, charities, and the government

(business or B) (business or B)

In a global market, marketers must be sure to dialogue with customers to ensure they understand about the ______ and ______ they want.

(goods or products) (services)

Pick out the attributes typically used to differentiate consumer groups.

- Age - Education - Income

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

marketing

Select the technological innovations that companies can use to develop products and services that match consumers' wants and needs more effectively.

- Data bases - Blogs - Social networking

Choose the secondary sources of data collection from the list.

- Magazines - Government publications

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

Culture

Which marketing activity helps businesses gather information to compete effectively?

Market research

The marketing concept that states that a business must find out what consumers want and provide it for them is called the:

customer orientation

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

demographic segmentation

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

fastest

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

marketing or incentives

Developing products and promotions to please large groups of people is ______ marketing.

mass

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

mass marketing

With marketing research, marketers analyze markets to determine:

opportunities and challenges

In order to gather additional in-depth information needed for business decisions, marketers must do their own research by gathering:

primary data

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

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.

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

Sociocultural, competitive, technological, global, and economic are the major influences in the marketing

environment

These people perform many of the activities required to move products efficiently from producers to consumers or industrial buyers and are often wholesalers or retailers.

Intermediaries

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

information or data

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

marketing

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

primary

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

secondary data

Promotion involves:

- informing people about products - motivating potential customers to buy

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

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

demand or market

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

culture

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

meet consumer needs

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 is ______.

price

The costs of producing, distributing and promoting the product will all influence the product's:

price

State governments will use marketing in order to:

attract new business and tourism

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

True

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

fewer customers in the B2B market

Many brick-and-mortar companies must pay attention to the new competition from the ______ because now consumers can search the world.

internet or web

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

When a company finds a small but profitable market segment and designs products just for them, the company is engaged in:

niche marketing

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

pricing or prices

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

primary

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 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

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

want, prefer, need, or value

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

wants, needs, demand, or expectations

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

- New businesses - Tourists

Which of these are sources of primary data collection?

- Surveys - Focus groups

Which of the following are considered examples of geographic segmentation?

- by city - by states - by region

The consumer market is made up of:

- individuals - households

The B2B market includes:

- institutions - government - manufacturers

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

- production - promotion - distribution

Marketers must pay attention to the dynamic competitive environment because:

- the Internet gives consumers information instantly - change is occurring more rapidly

Rank order the different eras of marketing by putting the earliest at the top to the most recent at the bottom.

1. Production 2. Sales 3. Marketing Concept 4. Customer Relationship

One of the fastest-growing segments of the U.S. population is people over the age of ______.

65

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

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

True or false: Culture is the set of values, attitudes, and ways of doing things that are transmitted from one generation to another in a given society.

True

Consumer behavior is the study of people's ______ decisions and the factors that influence those decisions.

buying, purchasing, or purchase

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

cheaper, lower, or less

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

differ greatly

Dividing a market by cities, counties, states, or regions is ______ segmentation.

geographic

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

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

marketing

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

Interviews, surveys, and observation are considered ______ sources, whereas publications, magazines, and newspapers are considered ______ sources of market research.

primary, secondary

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

product

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

The four factors in the marketing mix are:

product, price, place, and promotion

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

All of the techniques sellers use to inform people about and motivate them to buy their products or services is called:

promotion

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

secondary

When production capacity exceeded the immediate market demand, the business philosophy changed from the production era to the ______ era.

selling or sales

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

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

the marketing environment

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

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

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

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

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

governments

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

intermediaries

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

niche

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

research

Existing data is called ______ data since you aren't the first one to gather the data.

secondary

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

secondary

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

selling era began

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

consumer

There are relatively few customers in the B2B market because there are just a few construction or mining companies compared to 80 million households in the U.S. ______ market.

consumer or B2C

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

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

the internet

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

production