Isom Chp 11

Which of the following can be defined as "services"? (Select all that apply)

-doggie day care -dry cleaning -a physical examination

Select the three variables that are part of psychographic segmentation.

-motives -personality -lifestyles

Which four elements make up the marketing mix?

-product -price -promotion -distribution

Which three terms accurately describe primary data?

-recorded -observed directly -collected directly

Marketing focuses on a complex set of activities that must be performed to accomplish objectives and generate exchanges. These activities include ______. (select all that apply)

-selling -researching -risk taking

By the _____, some businesspeople began to recognize that efficient production and extensive promotion did not guarantee sales and the marketing era was born.

1950's

value

A customer's subjective assessment of benefits relative to costs in determining the worth of a product

United Mechanics sells nuts, bolts, and other fittings to companies that manufacture lawn mowers and tractors that are ultimately sold to consumers. This is an example of ______ marketing.

B2B

buying

Everyone who shops for products (consumers, stores, businesses, governments) decides whether and what to buy. A marketer must understand buyers' needs and desires to determine what products to make available.

A watch manufacturer makes high-end watches and markets them to high income professional businessmen. The price of its watches range from $2,000 to $20,000. Because of this, the company only advertises in niche market publications that cater to this audience. In this scenario, identify what the central focus should be for this company's marketing activities.

High-income professional businessmen

Intermediaries most likely assist with which four activities?

Materials handling Inventory control Warehousing Transporting

Which of the following are social factors that influence how, why, and when a consumer may buy a product or service?

Reference group Culture Social class

Promotion includes which of the following? (Select all that apply)

Sales promotion Publicity Advertising Personal selling

Which two terms best describe the process of gathering market research about potential customers that will help guide marketing decisions?

Systematic Objective

transporting

Transporting is the process of moving products from the seller to the buyer. Marketers focus on transportation costs and services.

market

a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas

Target Market

a more specific group of consumers on whose needs and wants a company focuses its marketing efforts

production orientation

a philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace

marketing strategy

a plan of action for developing, pricing, distributing, and promoting products.

In the first half of the 20th century, business people who adopted the sales orientation perspective believed the most important marketing activities were personal selling and ______.

advertising

Characteristically, digital advertising ______. (Select all that apply)

allows companies to directly interact with its customers is often less expensive than traditional advertising caters to both large and small companies

Knowledge and the positive or negative feelings a person has about something is referred to as

attitude

This psychological factor is defined as knowledge and positive or negative feelings a person has about something.

attitude

Motivation is an inner drive that directs a person's toward goals.

behavior

segmentation involves some characteristic of the consumers' behavior toward the product.

behavior

Characteristics that commonly involve some aspect of product use is _____ segmentation.

behavioristic

The goal of a market orientation is to ______.

build long term customer relationships

The decision processes and actions of people who purchase and use products is referred to as behavior.

buying

_____ behavior is the decision process and actions of people who purchase and use products.

buying

Tyrone needs a new laptop. He knows how much he can afford, but rather than just purchase impulsively, he is in the process of researching different models and asking his friends for their recommendations. Marketers would consider this to be Tyrone's ______.

buying behavior

Functions of Marketing

buying, selling, transporting, storing, grading, financing, marketing research, risk taking

Marketing Research

by gathering information regularly, marketers can detect new trends and changes in consumer tastes

When segmenting a market, a approach is used when a company develops one marketing strategy for a single market segment.

concentration

A manufacturer of educational toys for children ages 2 to 4 wants to develop a marketing strategy to focus on just this segment. Which market segmentation approach would the firm most likely use?

concentration approach

The idea behind the marketing concept is that ______ will lead to a business achieving its goals.

customer satisfaction

Segmenting facial products by sex, age, and race is an example of _____ segmentation.

demographic

A marketing strategy has two major components: selecting a target market, and ______.

developing an appropriate marketing mix

_____ is making products available in the quantities desired.

distribution

All of the following factors can be used to segment a market by psychographic factors EXCEPT ______.

education

In marketing terms, when you pay the cashier money for the items you purchase at a store, it is an example of a(n) _____.

exchange

When businesses give up their goods, services, or ideas for money supplied by customers, a voluntary relationship has been created.

exchange

Political, legal, regulatory, social, competitive, economic, and technological factors are all _______ forces that influence the development of marketing strategies.

external

True or false: If a business wants to achieve its objectives, it simply needs to create an innovative product.

false

True or false: Products are manufactured for either B2B markets or B2C markets, but never geared towards both.

false

For which function of marketing does this statement describe: For many products, especially large items such as automobiles, refrigerators, and new homes, the marketer arranges credit to expedite the purchase.

financing

Westwood Furniture Store realizes that many of its customers buy several pieces of furniture at one time and may not have immediate cash to pay for the purchase. Therefore, Westwood offers credit services where customers can pay for their purchase over time. To entice customers to shop Westwood also offers "no money down" and "no interest" options. This relates to the ______ function of marketing.

financing

Twitter, Facebook, and LinkedIn are often good substitutes for ______.

focus groups

Dividing a market by cities, counties, states, or regions is an example of using variables for market segmentation.

geographic

Instead of selling your product throughout the United States, you might concentrate on one or two regions. This is an example of _____ segmentation.

georgraphic

When men's dress shirts are divided and separated by size as well as color and brand name, it can be said that they are being ______.

graded

_____ is the standardizing of products by dividing them into subgroups and displaying and labeling them.

grading

Customer relationship management

helps marketers listen to customer feedback in order to respond to their needs and wants and work toward building a long term relationship

Marketers of _____ include political parties, churches, and schools.

ideas

Customer Relationship Management (CRM)

important in a market orientation because it can result in loyal and profitable customers

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

Marketing

is a group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services and ideas

Rashmi always used to shop at a particular clothing store. However, the last two times she shopped there, the staff was rude and they didn't have much stock on hand. Consequently, Rashmi is trying out new stores to shop at. Which psychological factor is at play in this scenario?

learning

This psychological factor is defined as the act of bringing about changes in a person's behavior based on information and experience.

learning

storing

like transporting, storing is part of the physical distribution of products and includes warehousing goods

A _____ orientation requires that an organization like Jani's Cakes and Pastries gather information about its customers' needs, share the information, and use it to help build long-term relationships.

market

A is a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas.

market

Which orientation is best described as first determining what customers want and then produce it, rather than making the products first and then trying to persuade customers that they need them.

market orientation

A company has a product that is geared toward 18-21 year-old women, who are all college students. This group would be considered a(n) ______ segment.

market segment

Dividing the market into groups whose members have similar characteristics is ______.

market segmentation

Financing

marketer arranges cred it expedite the purchase

A(n) _____ strategy is a plan of action for developing, pricing, distributing, and promoting products.

marketing

Online surveys are becoming an important part of research. Traditionally, the process of conducting surveys online involved sending questionnaires to respondents either through email or through a website.

marketing

The factors that go into a marketing program—product, price, distribution, and promotion—are called the mix.

marketing

The idea that a business or organization should try to satisfy customers' needs through activities that also allow it to achieve its own goals is known as the

marketing concept

B2C

marketing product directly to the end consumer

B2B Marketing

marketing products to customers who will use the product for resale or in the making of other products

A systematic, objective process of getting information about potential customers to guide marketing decisions is the definition of ______.

marketing research

Marketing _____ is a systematic, objective process of gathering information about potential customers.

marketing research

Which marketing activity helps businesses gather information to compete effectively?

marketing research

a total market approach is also referred to as

mass marketing

This psychological factor is defined as an inner drive that directs a person's behavior toward goals.

motivation

Joe's Taco cart, which has always sold 100 percent pure beef tacos, develops three new taco varieties for the growing group of vegetarian students who come by daily. Joe still advertises his beef tacos but has also developed a mini-campaign to pitch the veggie tacos. Joe is using a(n) _____ market segmentation approach.

multisegment

When a UPS store targets consumers for shipping products around the holidays, but targets businesses for everyday shipping needs, it is using a(n) ______ approach.

multisegment

Alicia and Marjorie were hired to be undercover visitors at a new restaurant in town. While there, the women took notes on the type of service they received, the menu offerings, and the quality of the food. They presented their findings to the restaurant owner. Alicia and Marjorie were working as ______.

mystery shopper

A company manufactures an underwater camera that can be used specifically for deep sea diving. Which marketing approach would this company most likely use?

niche marketing

The segmentation method that develops or finds products for small, well-defined market segments is ______.

niche marketing

Which of the following best describes the concentration segmentation approach?

one marketing strategy for a single market segment

This psychological factor is the process by which a person selects, organizes, and interprets information received from his or her sense, as when experiencing an advertisement or touching a product to better understand it.

perception

_____ is the process by which a person selects and interprets information through senses about the quality of new towels or features of a new computer.

perception

Although research is inconclusive, some marketers feel that the type of clothing one wears or the type of car one drives is directly related to which psychological factor?

personality

This psychological factor refers to the organization of an individual's distinguishing character traits, attitudes, or habits.

personality

Distribution is sometimes referred to as in the marketing mix.

place

Because it relates directly to the generation of revenue, ______ is considered a key element of the marketing mix.

price

Since it represents the measure of value used in an exchange, ______ is the marketing mix element that is the basis of most market exchanges.

price

Which of the following is least likely to be part of promotion?

pricing

Telephone surveys and mystery shoppers are two methods of gathering _____ data.

primary

Any physical good, service, or idea that satisfies a want or need is a(n) .

product

Automobile companies truly seem to be listening to customers who are environmentally concerned by offering more fuel-efficient cars. Companies are adjusting the ______ factor of the marketing mix.

product

New technologies such as electricity and railroads allowed the ______ orientation to flourish by allowing goods to be manufactured with increased efficiency.

production

_____ is a persuasive form of communication that attempts to expedite a marketing exchange by influencing individuals, groups, and organizations to accept goods, services, and ideas.

promotion

Dividing the market using a group's personality characteristics, motives, and lifestyles is _____ segmentation.

psychographic

Which of the following is not a typical marketing task of an organization?

purchasing a product or service

Digital communication has increased the ability of marketers to conduct polls on blogs and social networking sites. What are the benefits of online market research? (select all that apply)

quicker feedback lower cost

Dewayne's family, his National Society of Black Engineers of America professional group, and the Rotary organization to which he belongs are _____ groups that may influence his buying decisions.

reference

Groups with whom buyers identify and whose values or attitudes they adopt are referred to as _______ groups.

reference

Customer_________ management systems help marketers listen to customer feedback in order to respond to their needs and wants and work toward building a long-term relationship.

relationship

Market Orientation

requires organizations to gather information about customer needs, share that information throughout the entire firm, and use it to help build long-term relationships with customers

After a period of intense demand and production of goods, supply began to exceed demand. Business people realized that they would have to make a concerted effort to sell products and began advertising. This describes the ______ orientation.

sales orientation

After a period of intense demand and production of goods, supply began to exceed demand. Businesspeople realized that they would have to make a concerted effort to sell products and began advertising. This describes the ______ orientation.

sales orientation

Today some people still inaccurately equate marketing with a _______ orientation.

sales orientation

The process of dividing the total market into groups whose members have similar characteristics is market .

segmentation

Marketers expedite the exchange process by using promotion activities to persuade a customer to purchase a product. This is the essence of which function of marketing?

selling

What do marketers usually view as a persuasive marketing activity accomplished through promotion?

selling

A(n) is the application of human and mechanical efforts to people or objects to provide intangible benefits to customers.

service

A good outcome from using networks is the opportunity to reach new voices and gain varied perspectives on the creative process of developing new products and promotions.

social

In the United States, people are often referred to as being part of the upper, middle, or lower class. These groupings signify ______ classes.

social

University student, mother, and sister are examples of roles that influence buying behavior.

social

Grading

standardizing products by dividing them into subgroups and displaying and labeling them so that consumers clearly understand their nature and quality

A more specific group of consumers on whose needs and wants a company focuses its marketing efforts is referred to as a(n) market.

target market

American Girl manufactures dolls for young girls between the ages of 3 and 12. This specific group of consumers is the company's market.

target market

exchange

the act of giving up one thing (money, credit, labor, goods) in return for something else (goods, services, or ideas)

Sales Orientation

the belief that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits

Selling

the exchange process is expedited through selling

marketing concept

the idea that an organization should try to satisfy customers' needs through coordinated activities that also allow it to achieve its own goals

In defining its target market, sellers of salt, sugar, and flour most likely use a _____.

total market approach

True or false: A marketer must understand the needs of the buyer in order to determine what products to make available.

true

True or false: Time utility has to do with selling an item or service in a timely manner and relates to the storing function of marketing.

true

A customer's subjective assessment of what they receive relative to costs in determining the worth of an item is referred to as ______.

value

Customer benefits subtracted by customer costs = customer _____.

value

Interactive multimedia research is also known as .

virtual testing

_____ combines sight, sound, and animation to facilitate testing of concepts as well as packaging and design features.

virtual testing

In the United States ______ are the largest market segment.

women