MAR4802-Lesson 01: Marketing - Creating Customer Value and Engagement

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Which of the following reflects the marketing concept philosophy?

"We don't have a marketing department, we have a customer department."

Which customer question is answered by a company's value proposition?

"Why should I buy your brand rather than a competitor's?"

Which of the following customer questions is answered by a company's value proposition?

"Why should I buy your brand rather than a competitor's?"

An advantage of secondary data over primary data is that

(it is faster and easier to acquire than primary data)

______ analysis is an overall evaluation of the company's strengths, weaknesses, opportunities, and threats

A SWOT

A room upgrade offered by a hotel to a guest who often stays in the hotel is an example of ______.

A frequency marketing program

________ is the set of actual and potential buyers of a product.

A market

________ is the set of benefits a company promises to deliver to its consumers to satisfy their needs.

A value proposition

Which of the following is a trend that depicts the increasingly nontraditional nature of today's American families?

B (the increasing number of dual-income-to-no-kids families)

Customer equity refers to _______.

B (the total combined customer lifetime value of all of the company's current and potential customers)

Hank is an assistant marketing director for a firm in a market with many low-margin customers. What type of relationships with these customers would the most profitable for him?

Basic relationships

Which of the following is not a social criticism of marketing?

Branding

According to the five-step model of the marketing process, which of the following is the final step in creating value for customers?

Building profitable relationships and creating customer delight

Marketers set up company and brand Web sites that provide information and promote the company's products. Social media is a significant part of today's marketing strategy. Which of these tools is NOT part of the growth in digital technology?

C) telemarketing calls

The societal marketing concept seeks to establish a balance between ______.

Consumer short-run wants and consumer long-run welfare

________ is an organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers.

Consumerism

is one of the best ways to increase share of customer.

Cross-selling

The primary key to delivering customer satisfaction is to match product performance with _______

Customer Expectations

The primary key to delivering customers satisfaction is to match product performance with _______.

Customer Expectations

Which of the following terms refer to customers who make repeat purchases and tell others about their positive experiences with a product or service?

Customer evangelists

Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called _____.

Customer relationship management

Which of the following marketing strategies should marketing managers focus on to manage detailed information about individual customers and carefully manage customer touchpoints to maximize customer loyalty?

Customer relationship management

An organization that understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future needs is said to practice _______ marketing.

Customer-driving

When customers don't know what they want or don't even know what's possible, the most effective marketing strategy is ______ marketing.

Customer-driving

marketing is practiced by an organization that understands and anticipate customer needs even better than customers themselves do and creates products and services to meet current and future needs.

Customer-driving

The marketing world is most likely embracing _____ because consumers wield greater power nowadays with a wealth of platforms for airing and sharing their brands views with other consumers.

Customer-managed relationships

_______ is determined by a customer's evaluation of the benefits and costs of a market offering relative to those of competing offers.

Customer-perceived value

is determined by a customer's evaluation of the benefits and costs of a market offering relative to those of competing offers.

Customer-perceived value

Which of the following is a characteristic of customer-driven marketing?

Customers know what they want

Customer satisfaction is a goal that companies strive to earn. Companies can ensure customer delight by ______.

D (promising only what they can deliver and then delivering more than they promise)

________ includes practices such as misrepresenting the product's features or performance or luring customers to the store for a bargain that is out of stock.

Deceptive promotion

When backed by buying power, wants become _____.

Demands

_______________________is the study of human populations—size, density, location, age, gender, race, occupation, and other statistics.

Demography

________ involves thinking ahead to create products that are easier to recover, reuse, recycle, or safely return to nature after usage, thus becoming part of the ecological cycle.

Design for environment

________ products give both high immediate satisfaction and high long-run benefits.

Desirable

Which of the following DOES NOT reflect how Millennials do their grocery shopping? A) Millennials are more likely to keep an on-going grocery list throughout the week B) Millennials prefer food that is locally grown or produced C) Millennials are more likely to adopt a healthy lifestyle D) Millennials prefer ingredients they could recognize E) Millennials are more likely to build shopping trips around a particular recipe

E (Millennials are more likely to build shopping trips around a particular recipe)

In the famous case in the 1980s, Coca-Cola introduced New Coke after conducting extensive research. The failure of the New Coke was largely due to:

E (poor definition if the research problem)

_______ is a management approach that involves developing strategies that both support the ecological balance and produce profits for the company.

Environmental sustainability

________ is a management approach that involves developing strategies that both support the ecological balance and produce profits for the company.

Environmental sustainability

________ is an organized movement of concerned citizens, businesses, and government agencies designed to protect and improve people's current and future living environment

Environmentalism

Which of the following is the adoption process stage at which the consumer considers whether trying the new product makes sense?

Evaluation

_______ is the act of obtaining a desired object from someone by offering something in return

Exchange

________ is the act of obtaining a desired object from someone by offering something in return.

Exchange

is the act of obtaining a desired object from someone by offering something in return.

Exchange

Product stewardship is a "beyond greening" activity.

FALSE

While the societal marketing concept considers the future welfare of consumers and the sustainable marketing concept considers future company needs, the strategic planning concept considers both.

FALSE

When marketers set low expectations for a market offering, they are most likely to run the risk of which of the following?

Failing to attract enough customers

When marketers set low expectations for a market offering, they run the risk of ______.

Failing to attract enough customers

A company that makes marketing decisions by considering consumers' wants and long-run interests, the company's requirements, and society's long-run interests is practicing consumer-oriented marketing.

False

Amy's law office has developed a new format and wording for wills. The staff believes they offer the most in quality, performance, and innovative features. Her law office is practicing the production concept.

False

An organizations department follows a customer-centered sense-and-respond philosophy. The department is most likely practicing the product concept.

False

Bicycle helmets and some insurance offerings are considered pleasing products that give high immediate satisfaction but may hurt consumers in the long run.

False

Consumer-generated marketing has yet to have much impact as a marketing force.

False

Customer-managed relationships are marketing relationships that are controlled by customers, therefore they are of no significance to marketers.

False

Customer-managed relationships are marketing relationships that are initiated by and controlled by customers, not by marketers.

False

Deceptive pricing practices include misrepresenting the product's features or performance or luring customers to the store for a bargain that is out of stock.

False

Environmentalism is a management approach that involves developing strategies that both sustain the environment and produce profits for the company.

False

Fast Food, Inc. views marketing as the process of finding and retaining profitable customers by providing them with the food they want. Fast Food, Inc. practices societal marketing.

False

Fast Food, Inc. views marketing as the science and art of finding, retaining, and growing profitable customers by providing them with the food they want. Fast Food, Inc. practices societal marketing.

False

For most marketers, customer relationship management (CRM) is exclusively a matter of customer data management.

False

Human needs are shaped by culture and individual personality

False

Human needs are shaped by culture and individual personality.

False

In consumer-generated marketing, marketers play a bigger role in shaping consumers' brand experiences and those of others.

False

In customer value marketing, a company should seek real product and marketing improvements.

False

It's easy to differentiate predatory practices from effective competitive strategy and tactics.

False

Many low-income consumers find themselves in food deserts, which are plentiful in fruits and vegetables, fresh fish, and chicken but lack products like frozen pizzas, Cheetos, Moon Pies, and Cokes.

False

Market offerings are limited to physical products.

False

Market segmentation is the process of seeking fewer customers and reduced demand for profit maximization only.

False

Marketing's purpose is to promote consumption, and the inevitable outcome of successful marketing is sustainable consumption.

False

Only sellers of products, services, and ideas practice marketing; buyers do not.

False

The marketing mix includes production, price, promotion, and packaging; they are known as the four Ps of marketing.

False

The meaning of value is perceived identically by all consumers.

False

To increase its "share of customer," a firm concentrates on retaining as many customers as possible over their lifetimes.

False

To increse its "share of customer," a firm concentrates on retaining as many customers as possible over its lifetime.

False

Traditional seller's rights include the right to expect the product to perform as claimed.

False

Web 1.0 connected people with information, and Web 2.0 is connecting people to multifunction mobile devices.

False

When a company expands by developing its own products rather than acquiring a competitor, the company is likely to be accused of reducing competition.

False

When a company views and organizes its marketing activities from only the consumer's point of view, it is practicing societal marketing.

False

When backed by buying power, needs become wants.

False

When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from marketing myopia.

False

Xorbate Blue is a relatively new food supplement that provides both high immediate satisfaction and high long-run benefits. Xorbate Blue is best classified as a salutary product.

False

Your department holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do. Your department is practicing the selling concept.

False

Which of the following is the most likely result of a marketing strategy that attempts to serve all customers?

Few customers will be satisfied.

______ consists of inviting 6 to 10 people to meet with a trained moderator to talk about a product, service, or organization

Focus group interviewing

Which of the following is the aim of the product concept?

Focus on making continuous product improvements

Which consumer group tends to show more brand loyalty and makes shopping a family event, with children having a big say in the purchase decision?

Hispanic Americans

Which of the following actions should a marketer take in response to the new economy?

Hold the line on prices.

A firm that uses the selling concept takes a(n) _____ approach.

Inside-out

Which of the following is true with regard to geographic organization?

It allows salespeople to work with a minimum of travel time and cost.

Which of the following statements is true of the selling concept?

It is typically practiced with unsought goods

Which of the following statements 1s true of the selling concept?

It is typically practiced with unsought goods. It follows the customer-centered sense-and-respond philosophy

Which of the following statements is true of the production concept?

It leads to companies focusing too narrowly on their own operations

_______ describes changes in an individual's behavior arising from experience.

Learning

Which of the following statements is true about creating customer loyalty and retention?

Losing a customer means losing the entire stream of purchases that the customer would make over a lifetime of patronage.

Which of the following strategies would a company most likely use to increase customer satisfaction?

Lowering prices

According to management guru Peter Drucker, "The aim of marketing is to _____"

Make selling unnecessary

A(n) ______ is the set of actual and potential buyers of a product or service.

Market

A ______ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want.

Market offering

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 customer's purchasing in their product categories.

Consumer research, product development, communication, distribution, pricing, and service are all core ____ activities.

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.

Marketing

________ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others.

Marketing

is defined as a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others

Marketing

______ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Marketing Research

________ refers to measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.

Marketing control

________ refer(s) to meaningful sets of marketing performance measures in a single display used to monitor strategic marketing performance.

Marketing dashboards

Which of the following is NOT an accurate description of modern marketing?

Marketing emphasizes selling and advertising exclusively

Which of the following is NOT an accurate description of modern marketing?

Marketing emphasizes selling and advertising exclusively. (NOT)

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 is called the _____.

Marketing mix

Which of the following terms refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs?

Marketing myopia

________ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs.

Marketing myopia

The marketing concept that starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers takes a(n) ______.

Outside-in perspective

It is most accurate to say that when customers purchase products they act on ______ as they judge values and costs

Perceived value

The challenge for makers of ________ products is to add long-run benefits without reducing the products' agreeable qualities.

Pleasing

_______ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

Positioning

The ______ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features.

Product

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

A shoe manufacturing company uses ads featuring the members of a country music band with the hope that the band's fans will see them wearing the company's shoes and hence purchase the same brand of shoes. The shoe company believes that the band portrays the image of a ________ to the band's fans.

Reference group

________ measures the profits generated by investments in marketing activities.

Return on marketing

The section of the marketing plan that describes a company's strengths, weaknesses, opportunities, and threats is called a __________analysis

SWOT

The ________ concept calls for aggressive selling and focuses on generating transactions to obtain profitable sales.

Selling

All of the following are accurate descriptions of modern marketing today, EXCEPT which one?

Selling and advertising are synonymous with marketing.

Jolene's firm markets preplanning services for a mortician. She finds that most of her target market avoids discussing future funeral needs. She convinces people to invest in the firm's services through her large-scale promotional efforts. Jolene's firm most likely practices the ________.

Selling concept

Marketers use mobile channels for several purposes. Which of the following is LEAST likely to be one of those purposes?

Send billing statement.

Marketers use mobile channels for several purposes. Which of the following is least likely to be one of those purposes?

Send billing statement.

Carboi is a company that offers consumers the opportunity to buy carbon offsets, which are contributions to projects that combat global warming by reducing carbon emissions. Carboi offers contribution packages for driving, flying, and home energy use. Through Carboi, consumers can pay some of the ________ costs of their private goods and services.

Social

Which of the following statements is true regarding social classes?

Social classes show distinct differences in how much they care about appearance and body image

Your state's department of education has budgeted a significant amount of money for a radio, print, television, and online advertising campaign emphasizing the long-term benefits, both educationally and professionally, of reading every day. This is an example of a(n) campaign.

Social marketing

When a company makes marketing decisions by considering consumers' wants and interests, the company's requirements, and society's long-run interests, it is most likely practicing ________ marketing.

Societal

________ involves looking at whether a company's key action plans are well-matched to its opportunities.

Strategic control

Each culture contains smaller ________, or groups of people with shared value systems based on common life experiences and situations

Subcultures

________ marketing calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

Sustainable

___ 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.

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.

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.

Sustainable marketing

Corporate marketing ethics policies should most likely address distributor relations, advertising standards, customer service, pricing product development, and general ethical standards.

TRUE

Satisfying consumers' immediate needs and desires does not always serve the future best interests of either customers or the business.

TRUE

Selecting which segments of a population to serve is called ______.

Target marketing

Which of the following is a major advantage of the market organization?

The company is organized around the needs of specific customer segments.

Which of the following follows a customer-centered "sense-and-respond" philosophy rather than a product-centered "make-and-sell" philosophy?

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

Customer equity refers to ________

The total combined customer lifetime value of all the company's current and potential customers

A market is the set of actual and potential buyers of a product or service.

True

An experience such as a vacation can be defined as a market offering.

True

An increase in private goods, such as cars, typically leads to an increased need for public services, such as parking spaces.

True

Cigarettes and junk food are considered pleasing products.

True

Critics charge that large marketing companies can use patents and heavy promotion spending to drive out competitors.

True

Customer-perceived value is defined as the customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers.

True

Customer-perceived value is defined as the customer's evaluation of the perceived difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.

True

Large-scale marketing approaches that foster two-way customer relationships are made possible by new communication technologies

True

Large-scale marketing approaches that foster two-way customer relationships are made possible by new communication technologies.

True

Many companies now use customer profitability analysis to identify and weed out unprofitable customers

True

Many companies now use customer profitability analysis to identify and weed out unprofitable customers.

True

Marketers respond that most businesses try to price fairly to consumers because they want to build customer relationships and repeat business.

True

Marketing is managing profitable customer relationships.

True

Marketing mix refers to the set of marketing tools the firm uses to implement its marketing strategy.

True

Proposals relating to quality of life include controlling the ingredients that go into certain products and packaging and reducing the level of advertising "noise."

True

The difference between human needs and wants is that needs are not influenced by marketers.

True

The difference between needs and wants is that needs are not created by marketers

True

The new digital world makes it easy for consumers to take marketing content, that once lived only in advertising, with them wherever they go and share it with friends.

True

The production concept and product concept are orientations that are more likely to lead to marketing myopia than the marketing concept and the societal marketing concept are.

True

The production concept and the product concept arc marketing management orientations that are more likely to lead to marketing myopia.

True

The selling concept holds that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort.

True

The selling concept holds that consumers will not buy enough of the firm's products unless the firm undertakes a large-scale selling and promotion effort.

True

The societal marketing concept calls on marketers to balance consumer wants and desires, company profits, and society's interests.

True

Today, enlightened companies implement environmental sustainability strategies not because someone is forcing them to or to reap short-run profits but because it's the right thing to do.

True

Truly sustainable marketing requires a smooth-functioning marketing system in which consumers, companies, public policy makers, and others work together to ensure socially and environmentally responsible marketing actions.

True

Value has different meanings to and is perceived differently by different consumers.

True

According to the five-step model of the marketing process, a company should _____ before designing a customer-driven marketing strategy

Understand the marketplace and customer needs and wants

A man weighs 200 lbs. He steps on a scale five times and receives the following weights: 160, 190, 200, 155, 200. This scale is:

Valid, but not reliable

Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?

Value proposition

_____ are human needs that are shaped by culture and individual personality

Wants

______ are human needs that are shaped by culture and individual personality.

Wants

________ are human needs as shaped by individual personality and culture.

Wants

________ are human needs that are shaped by culture and individual personality.

Wants

are human needs that are shaped by culture and individual personality.

Wants

A major step in regulating unfair or deceptive acts or practices was the enactment of the ________ in 1938

Wheeler-Lea Act

A major step in regulating unfair or deceptive acts or practices was the enactment of the ________ in 1938.

Wheeler-Lea Act

The selling concept is typically practiced ______.

With goods that buyers normally do not think of buying

Customer-driven marketing is most likely to work well when ________ and when customers ________.

a clear need exists; know what they want

A gym equipment manufacturer encourages customers to become members of the firm's Web site. Membership provides customers with exercise tips as well as discounts on gym equipment and workout apparel. This is an example of

a club marketing program

A seller pursues a full partnership with what kind of customers?

a few high-margin customers

A room upgrade offered by a hotel to a guest who often stays in the hotel is an example of

a frequency marketing program

As international trade barriers come down and global markets expand, environmental issues are having ________ impact on international trade.

a greater

Which of the following advertising situations would least likely be considered "puffery"?

a retired couple drinking a vitamin and protein shake and then going bicycling

Companies can develop ________ to serve as a guide to the future, laying out how the company's products and services, processes, and policies must evolve and what new technologies must be developed to get there.

a sustainability vision

Challenges of managing big data include _____

accessing and sifting through so much data

Critics charge that high advertising and promotion costs unnecessarily increase retail prices. Marketers most likely respond to this criticism by arguing that advertising ________.

adds value by giving consumers product information

Consumers learn about new products for the first time and make the decision to buy those products during the ______

adoption process

To capture the full essence of customer relationship management, which of the following should a marketing manager take into consideration?

all of the above

Which of the following is an example of a type of market offering?

all of the above

The societal marketing concept states that companies should try to turn ________.

all of their products into desirable ones

______ are groups to which an individual wishes to belong, as when a young basketball player hopes to play someday in the NBA or WMBA.

aspirational groups

______ are groups to which an individual wishes to belong, as when a young basketball player hopes to play someday in the NBA or WNBA.

aspirational groups

Which of the following is the first stage in the new product adoption process?

awareness

A financial services firm has several loyal customers who conduct business with them exclusively. However, the company has noticed that this customer group is the least profitable for the company, and in some cases, it increases their losses when engaging in business with this group. Which of the following customer groups is being referred to in this scenario?

barnacles

Hank is an assistant marketing director for a firm in a market with many low-margin customers. What type of relationship with these customers would be the most profitable for him?

basic relationships

_____ segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product.

behavioral

Harley-Davidson promotes its motorcycles with images of independence, freedom, and power. Harley-Davidson has created a ________.

brand personality

A company should avoid high-pressure selling if it wants to ________.

build long-term relationships with valued customers

A company should not always target all possible customers. Which kind of customer is not the most valuable to a company, but, can over time, contribute to the firm's success?

butterflies

In the context of customer relationship groups, a potentially profitable and short-term customer is referred to as a

butterfly

At Gina's retail stores, the posted policy reads, "Without our customers, we don't exist." Gina and her staff aim to delight each customer, and they are quick to offer discounts or extra services whenever a customer is anything less than satisfied. Gina and her staff strive to make every customer a repeat customer. It is most accurate to say that instead of focusing on each individual transaction, Gina and her staff put a priority on ________.

capturing customer lifetime value

The final step in the marketing process is

capturing value from customers

The final step in the marketing process is _____

capturing value from customers

According to the five-step model of the marketing process, which of the following is the final step in creting value for customers?

capturing value from customers to create profit and customer equity

What type of research objective is most suitable for obtaining conclusive answers to questions such as whether one ad would garner greater attention and recall than another, and whether the presence versus absence of $0.50 coupons would make people more likely to buy the national brand?

causal research

A regional supermarket chain runs print, radio, and television advertisements announcing that 1 percent of its sales is donated to local after-school programs for underprivileged youth. This is an example of ______.

cause-related marketing

Almost all major purchases result in ________, or discomfort caused by postpurchase conflict

cognitive dissonance

When a customer feels uneasy about losing out on the benefits of a brand not purchased, she is likely to experience _____

cognitive dissonance

The three areas of consideration that should be balanced in the societal marketing concept are consumer wants, society's interests, and ________.

company profits

George has bought his first house. He has spent a month looking at houses and comparing different prices and locations. He has contacted several real estate agents to look at different types of houses. George is most likely exhibiting ______.

complex buying behavior

When consumers are highly involved with the purchase of an expensive product and they perceive significant differences among brands, they most likely will exhibit _____

complex buying behavior

Which of the following statements reflects the marketing concept?

consider customer focus and value as the paths to sales and profits

Promoting the use of sustainable ingredients, recycling and reducing solid wastes, and managing energy consumption relate to the consumer's right to ________.

consume now in a way that will preserve the world for future generations

Critics claim that companies in the ________ industry are more likely to introduce planned streams of new products that make older models obsolete.

consumer electronics

Brad works with a reputable retailer and leads a team that collects market information from a wide variety of sources ranging from marketing research studies to monitoring online conversations where consumers discuss Brad's firm or its products. Brad's team uses this information to arrive at a better understanding of consumers' behavior and their buying motives. This, in turn, allows Brad's firm to successfully generate more value for consumers. Brad leads the ________ team.

consumer insights

Individuals and households that buy or acquire goods and services for personal consumption make up the _____

consumer market

The societal marketing concept seeks to establish a balance between

consumer short-run wants and consumer long-run welfare

The societal marketing concept seeks to establish a balance between ________.

consumer short-run wants and consumer long-run welfare

Elisandra, a marketing manager at a regional chain restaurant, has decided to organize a contest calling for customers to create commercials for the restaurant. Winning entries will be posted on the organization's home page. Elisandra's plan is an example of

consumer-generated marketing

Kao Corp., a deodorant manufacturer, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of

consumer-generated marketing

Kao Corp., a deodorant manufacturer, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of ________.

consumer-generated marketing

The App Store views and organizes its marketing activities from the viewpoint of its buyers, who are predominantly comprised of the Millennial generation. Management works hard to sense, serve, and satisfy the needs of this tech savvy demographic. Which of the following does The App Store most likely practice?

consumer-oriented marketing

converting "barnacles" to "strangers"

Jeff Barkins is a conscientious marketing manager. Sometimes, Jeff and his staff are unclear what decisions to make when faced with moral dilemmas. Jeff and other managers could create broad guidelines that everyone in the organization must follow in the form of a ________.

corporate marketing ethics policy

Jeremy Clarkson, a marketing critic, is concerned about the pervasiveness of marketing. He points to advertising messages everywhere, from Web sites and e-mails to unwanted direct mail and catalogs to television commercials and product tie-ins to billboards and store signs. From the description given, it can be concluded that Jeremy is concerned about ________.

cultural pollution

Jeremy Clarkson, a marketing critic, is concerned about the pervasiveness of marketing. He points to advertising messages everywhere, from websites and e-mails to unwanted direct mail and catalogs to television commercials and product tie-ins to billboards and store signs. From the description given, it can be concluded that Jeremy is concerned about ________.

cultural pollution

People who buy magazines that they like or who opt in to e-mail, social media, or mobile marketing programs rarely complain about the ads because they involve products and services of interest. This is counter to the claim that the marketing system creates ________.

cultural pollution

Which of the following refers to the total combined customer lifetime value of all of the company's current and potential customers?

customer equity

is the total combined customer lifetime values of all the company's current and potential customers

customer equity

Which of the following terms refers to customers who make repeat purchases and tell others about their positive experiences with a product or service?

customer evangelists

The primary key to delivering customer satisfaction is to match product performance with ________.

customer expectations

"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 specifically indicates loss in terms of _____.

customer lifetime value

More and more, companies are shifting their brand management focus from brand profitability toward ________.

customer management

FedEx offers its customers fast and reliable package delivery. When FedEx customers weigh these benefits against the monetary cost of using FedEx along with any other costs of using the service, they are acting upon ________.

customer perceived value

Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called

customer relationship management

Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called ______

customer relationship management

Building and maintaining profitable value-laden relationships with customers of a company is called ________.

customer relationship management

Of the following, which is the most important concept of modern marketing?

customer relationship management

Which of the following is most essential to any definition of marketing?

customer relationships

Sally recently purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations about Brand X lotion, Sally was measuring her level of

customer satisfaction

Sally recently purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations about Brand X lotion, Sally was measuring her level of ________.

customer satisfaction

Enlightened marketing calls for building long-run consumer engagement, loyalty, and relationships by continually improving the benefits consumers receive from the firm's market offering. This is related to ________, one of the five sustainable marketing principles.

customer value marketing

Which sustainable marketing principle emphasizes building long-run consumer engagement, loyalty, and relationships?

customer value marketing

When customers don't know what they want or don't even know what's possible, the most effective marketing strategy is ________ marketing.

customer-driving

When customers don't know what they want or don't even know what's possible, the most effective marketing strategy is marketing.

customer-driving

When customers don't know what they want or don't even know what's possible, the most effective strategy is ________ marketing.

customer-driving

The marketing world is most likely embracing because consumers wield greater power now with many platforms for airing and sharing their brand views with other consumers.

customer-managed relationships

FedEx offers its customers fast and reliable package delivery. When FedEx customers weigh these benefits against the monetary cost of using FedEx along with other costs of using the service, they are acting upon

customer-perceived value

Which of the following is determined by a customer's personal evaluation of the benefits and costs of a market offering relative to those of competing offers?

customer-perceived value

_______ is determined by a customer's evaluation of the benefits and costs of a market offering relative to those of competing offers

customer-perceived value

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 specifically indicates loss in terms of

The Great Recession has most likely resulted in a(n)________.

decline in conspicuous spending

All of the following steps pertain to the marketing control process EXCEPT ________.

defining the company's mission

Greg Williams now has the buying power to purchase the desktop computer that he has wanted for the last six months. Greg's want now has become a(n)

demand

When backed by buying power, wants become

demands

When backed by buying power, wants become ______

demands

When backed by buying power, wants become ________.

demands

When backed by buying power, wants become ________. A) social needs

demands

____ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

demographic

The marketing team of 7 Star Inc., a company manufacturing smartphones, is currently studying the size, density, location, age, and occupation of its target market. Which of the following environments is being studied in this scenario?

demographic environment

Which of the following is the best example of a salutary product?

dental insurance

The goal of ________ research is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product

descriptive

Beth Williams works for a marketing research company in Chicago. Her current research involves finding the market potential for a client's new line of sports apparel. Given her objective, which of the following types of research is the most suitable for Beth?

descriptive research

Which of the following types of research would be best suited for understanding the attitudes of consumers who buy a particular brand of soft drink?

descriptive research

Maytag's front-loading Neptune washer comes in attractive designs and also guarantees quick cleaning and high energy efficiency. The Neptune washer is most likely an example of a ________ product.

desirable

The product concept says that a company should ________.

devote its energy to making continuous product improvements

______ involves actually distinguishing the firm's market offering to create superior customer value.

differentiation

For the past ten years, Bill and Margaret have saved money to go to the Super Bowl should their team, the Chicago Bears, reach the finals of the NFC championship. This is the year, and several tour companies offer attractive, but very similar, packages to the game. Since all the packages are pretty much the same and quite expensive, they have chosen one that fits their budget. Bill and Margaret are most likely exhibiting ______.

dissonance-reducing buying behavior

Market segmentation can be best described as the process of ______.

dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate marketing programs

________ is an organized movement of concerned citizens, businesses, and government agencies designed to protect and improve people's current and future living environment.

environmentalism

The two major citizen action movements to keep businesses in line are ________.

environmentalism and consumerism

While looking for ideas on how to craft a user-friendly dishwasher, the designers of a dishwasher- manufacturing company spent 10 days observing people as they used their dishwashers in their homes. In this instance, the designers were conducting ________.

ethnographic research

Robert has taken up cycling as a hobby and as a way to maintain his physical fitness. He wants to buy a hydration system since he will need a lot of water as he cycles. Having gathered a great deal of information, he has finally narrowed down his choices to three systems: Waterbags for Roadies, Supertanker Hydropacks, and Fast Water. Robert is in the ________ stage of the buyer decision process.

evaluation of alternatives

In a simple random sample, ________.

every member of the population has a known and equal chance of selection

A toothbrush that costs ten cents to manufacture may cost a consumer $3.00 to buy. According to critics, this is an example of ________.

excessive markup

A marketing plan begins with a(n) ________, which presents a brief summary of the main goals and recommendations of the plan for management review.

executive summary

Juanita Petino, a nutritionist, decided to test the effects of two breakfast cereals, Kinglo and Loopy, on different consumer groups. For the purpose of her study, she randomly assigned volunteers into two groups and asked members of one group to have Kinglo cereal and the members of the other group to have Loopy cereal for breakfast. She then compared happiness ratings between the two groups. In this instance, Juanita is using ________.

experimental research

In _______ research, the objective is to gather preliminary information that will help define the problem and suggest hypotheses.

exploratory

When marketers set low expectations for a market offering, they run the risk of

failing to attract enough customers

A company that makes marketing decisions by considering consumers' wants and long-run interests, the company's requirements, and society's long-run interests must be practicing consumer-oriented marketing.

false

According to the World Bank, firms from Australia, Denmark, Finland, and Japan engage in the most corrupt business practices.

false

According to the societal marketing concept, firms and managers should focus primarily on what marketing efforts are legal and allowed.

false

Benchmarking refers to the process that turns marketing plans into marketing actions to accomplish strategic marketing objectives.

false

Companies that do not target individual consumers do not benefit from using social media tools to appeal to their business customers.

false

Companies that practice perceived obsolescence use product components that will break, wear, rust, or rot sooner than they should.

false

In sense-of-mission marketing, a company defines its mission in product terms rather than social terms.

false

In the progress toward environmental sustainability, a company must first develop a sustainability vision, which serves as a guide to the future.

false

Marketers are most effective when they attempt to create new wants rather than when they appeal to existing ones.

false

Organizations choose to use only a few of the available online and social media. Using multiple social media results in confused fans.

false

Pleasing products have low immediate appeal but benefits consumers in the long run.

false

Product stewardship is a "beyond greening" activity

false

Return on marketing investment refers to the net return from a marketing investment divided by the costs of the marketing investment.

false

The Internet of Things is a new product created by multiple companies working together.

false

Though marketers may make long-term gains with high-pressure selling tactics, this approach can do serious damage to short-term customer relationships

false

Though marketers may make long-term gains with high-pressure selling tactics, this approach can do serious damage to short-term customer relationships.

false

Reverend John McTally wants people to resist the temptation to shop. He annually leads a group of volunteers in his post-Thanksgiving Buy Nothing Parade in front of Macy's in Manhattan. The Reverend is criticizing the American marketing system for creating ________.

false wants and too much materialism

Customer relationship management (CRM) helps _______

firms manage customer touch points to maximize loyalty

The________ steps of the five-step marketing process are about understanding customers, creating customer value, and building strong customer relationships.

first four

Word-of-mouth influence comes to consumers from family, colleagues, and ____

friends

Emerson Studios has designed its marketing organization along the lines of a ________ organization in which operational specialists head different marketing activities.

functional

The most common form of marketing organization is the ________ organization. Under this organization, an operational specialist heads different marketing activities.

functional

Berman Electronics, a chain of appliance stores in North America, caters to a wide range of customers. It has a marketing organization in which different operational specialists head different marketing activities. Berman Electronics is a(n) ________.

functional organization

Ravenshaw Corp. assigns its sales and marketing people to specific countries, regions, and districts. Ravenshaw Corp. is most likely an example of a ________.

geographic organization

_______ calls for dividing the market into regions, states, counties, cities, or even neighborhoods

geographic segmentation

Natural & Safe sells a concentrated, biodegradable bathroom cleaner in a recycled container. This is best described as a component of the company's internal ________ program.

green marketing

Which of the following consumer buying behaviors is related to conditions of low-consumer involvement and little significant brand difference?

habitual buying behavior

Customer equity refers to

he total combined customer lifetime value of all of the company's current and potential customers

Which of the following most likely suggests that marketers lack the power to create consumer needs and control market demand?

high failure rate of new products

Insurance, real estate, and used cars salespeople are trained to deliver smooth, canned talks to entice purchases. This is known as ________.

high-pressure selling

________ persuades people to buy goods they had no thought of buying.

high-pressure selling

The term big data refers to the ________ generated by today's sophisticated information generation, collection, storage, and analysis technologies.

huge and complex data sets

Maslow's theory is that ________ can be arranged in a hierarchy

human needs

In which of the following situations has a company most actively embraced customer- managed relationships?

iRobot invites enthusiastic Roomba owners to develop and share their own uses for the company's robotic vacuum cleaner.

In which of the following situations has a company most actively embraced customer-managed relationships?

iRobot invites enthusiastic Roomba owners to develop and share their own uses for the company's robotic vacuum cleaner.

Many managers think that "doing things right," or ________, is as important as, or even more important than, "doing the right things."

implementation

The nation's poor areas have 30 percent fewer supermarkets than do affluent areas. As a result, many low-income consumers find themselves ________.

in food deserts

The real value of marketing information lies in how it is used _____

in the customer insights that it provides

In advertising, puffery refers to ________.

including innocent exaggeration for

Marketing control involves four steps including all the following EXCEPT ________.

increasing the staffing in the planning department

Controlling the ingredients that go into certain products and reducing the level of advertising "noise" are part of proposals relating to the consumer's right to ________.

influence marketing practices in ways that will improve quality of life

Primary data consist of _____

information collected for the specific purpose at hand

Secondary data consist of ________.

information that already exists somewhere having been collected for another purpose

Secondary data consist of _______

information that already exists somewhere, having been collected for another purpose

A firm that uses the selling concept takes a(n) ________ approach.

inside-out

A firm that uses the selling concept takes a(n) approach.

inside-out

At a local farmers' market, Molly Malone sells mussels while shouting to passersby, "Fresh seafood, get your fresh seafood here!" What kind of perspective is Molly taking?

inside-out

In a SWOT analysis, which of the following would be considered a strength?

internal capabilities

What do most companies today focus on when it comes to protecting the environment?

investing heavily in pollution prevention

Environmentalists assert that the marketing system's goal should be to maximize ________.

life quality

A current trend in the U.S. involves rediscovering the benefits of home-cooked food and the use of organic ingredients. People are choosing to spend hours in the kitchen using only the freshest ingredients to cook healthy and nutritious meals. This change in _______ is one of the reasons for the increasing demand for organic ingredients.

lifestyle

The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer ________.

long-run welfare

According to management guru Peter Drucker, "The aim of marketing is to

make selling unnecessary

According to management guru Peter Drucker, "The aim of marketing is to ________."

make selling unnecessary

A seller pursues a basic relationship with what kind of customers?

many low-margin customers

A common criticism of the marketing system is that intermediaries ________.

mark up prices beyond the value of their services

A(n) ________ is the set of actual and potential buyers of a product or service

market

A(n) is the set of actual and potential buyers of a product or service.

market

According to the Boston Consulting Group approach, _______ provides a measure of market attractiveness.

market growth rate

A ______ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or a want.

market offering

A ________ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want.

market offering

Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside motel to a thriving year-round resort in just a few years. Atop a cliff overlooking the Maine coast, Seagull Terrace had attracted thousands of visitors during summer, but then faced a tremendous downturn in business during winter. "But, given the established industries in the nearby towns, very little year-round competition, and our close proximity to Portland," Carol added, "I couldn't understand why seasonality had to hit Seagull Terrace so hard!"So Carol spent her first winter devising a new marketing plan. She put together a promotional package designed to attract business travelers year-round. Carol's plan also involved a seasonal promotional gimmick-to be implemented from early winter to late spring-that would attract the same numbers as the large summer crowd. Her idea worked! During her second winter, Carol greeted numerous business travelers-both satisfied repeat guests as well as new guests who had been snagged by her promotional appeals."We still have a long way to go," Carol admitted. "Our delicatessen offers entrees that are a part of the local cuisine, but we'd like to expand that. We provide health club privileges off-site, but we'd like to eventually provide our own. These are goals I hope to achieve in a few years. Our first project, however, included a renovation of our guest rooms and I'm quite proud of the results." Carol then added, "Actually there are so many possibilities. With an indoor pool area, I will eventually offer weekend getaways throughout winter."Seagull Terrace offers its customers good accommodations, local delicacies, and amazing seaside views. The overall experience provided at the motel is a part of its ________.

market offering

Seagull Terrace offers its customers good accommodations, local delicacies, and amazing seaside views. The overall experience provided at the motel is a part of its

market offering

Making more sales to current customers without changing a firm's products is known as ______

market penetration

Dividing the market into various groups of customers that a company may serve is called

market segmentation

Dividing the market into various groups of customers that a company may serve is called _____

market segmentation

Dividing the market into various groups of customers that a company may serve is called ________.

market segmentation

____ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes

market segmentation

A 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 _______.

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

market segments

According to the authors of your text, the ________ concept is a "sense and respond" philosophy rather than a "make and sell" philosophy.

marketing

Carol Veldt has decided to ask selected guests to participate in an extensive survey about their experience at Seagull Terrace and about their requirements in terms of amenities and cuisines. By implementing the suggestions she receives from guests, Carol would be following the concept.

marketing

Consumer research, product development, communication, distribution, pricing, and service are all core ________ activities.

marketing

Consumer research, product development, communication, distribution, pricing, and service are all core activities.

marketing

Consumer research, product development, communication, distribution, pricing, and service are all most accurately described as core ________ activities.

marketing

The ________ concept focuses on meeting the company's short-term sales, growth, and profit needs by engaging customers and fulfilling their needs and wants more effectively and efficiently than the competition.

marketing

The ________ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do.

marketing

Greater consumer control means that companies can no longer rely on

marketing by intrusion

A(n) ________ consists of people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights

marketing information system

____ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment

marketing intelligence

The art and science of choosing target markets and building profitable relationships with them is called

marketing management

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 is called the

marketing mix

The set of marketing tools a firm uses to implement its marketing strategy is called the ___

marketing mix

The set of marketing tools a firm uses to implement its marketing strategy is called the ________.

marketing mix

Which of the following terms refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs? Select one: a. vendor lock-in b. social loafing c. value proposition d. marketing myopia e. conspicuous consumption

marketing myopia

refers to the mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products

marketing myopia

______ is the process by which firms interact one-to-one with masses of customers to design products and services tailor-made to individual needs

mass customization

Bead Beautiful is a jewelry brand targeted at preteen girls. What needs do NOT fit with this audience, as the marketing team develops a value proposition for Bead Beautiful?

mature designs

Orion Inc. operates in many industries, including pharmaceuticals and food products. The company's goal is to create "abundant and affordable food for all and a healthy environment." This represents Orion's ________.

mission statement

The buying decision process starts with ________, in which the buyer spots a problem

need recognition

are states of felt deprivation

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

A church targeting different demographic groups to increase attendance is an example of

not-for-profit marketing

A church targeting different demographic groups to increase attendance is an example of ________.

not-for-profit marketing

High-pressure selling may work in situations that involve ________.

one-time sales

High-pressure selling will most likely work in situations that involve ________.

one-time sales

The purpose of ________ is to ensure that the company achieves the sales, profits, and other goals set out in its annual marketing plan.

operating control

In a SWOT analysis, ________ include favorable trends in the external environment.

opportunities

Omega Inc. makes lightweight sunglasses with 100-percent UV protection for people who love to hunt, hike, and ride bikes. The company's long-term plans include the development of lenses that, in addition to protecting users from UV rays, would help reduce lens spotting through effective water-sheeting methods. This new feature would be valuable to people who fish. Given the rising popularity of recreational fishing in the United States, Omega products clearly have a huge market potential. In terms of a SWOT analysis, Omega has recognized a market ________.

opportunity

The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers

outside in perspective

The marketing concept takes a(n) . It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.

outside-in perspective

The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.

outside-in perspective

Trendy Teens manufactures fashionable clothing and accessories for the tween and teen female markets. New merchandise with a very different look is rolled out each season and heavily promoted as the "must-have" style in a variety of media. For which of the following could Trendy Teens be easily criticized in this scenario?

perceived obsolescence

Trendy Teens manufactures fashionable clothing and accessories for the tween and teen female markets. New merchandise with a very different look is rolled out each season and heavily promoted as the "must-have" style in a variety of media. Trendy Teens could most easily be criticized for which of the following?

perceived obsolescence

It is most accurate to say that when customers purchase products they act on ________ as they judge values and costs.

perceived value

It is most accurate to say that when customers purchase products they act on as they judge values and costs.

perceived value

Some companies intentionally manufacture their products with materials or components that will break, wear, rust, or rot sooner than they should. This practice is called ________.

planned obsolescence

Beverages that are high in sugar are called ________ products.

pleasing

Products that give high immediate satisfaction but may hurt consumers in the long run are called ________ products.

pleasing

After the purchase of a product, consumers will be either satisfied or dissatisfied and engage in ______

post purchase behavior

The European Commission recently accused Google of abusing its Web-search dominance, harming both competitors and consumers in European Union markets. The Commission also began investigating antitrust issues related to Google's Android mobile operating system. This is an example of ________.

predatory competition

Many organizations use multiple social media, such as Facebook, Twitter, Instagram, and YouTube. What is the primary reason a company would use multiple social media?

present a carefully integrated message to fans and customers

According to critics, large marketing companies use patents and heavy promotion spending to ________.

prevent industry competition

"Build a better mousetrap and the world will beat a path to your door" reflects the ________ concept.

product

Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside motel to a thriving year-round resort in just a few years. Atop a cliff overlooking the Maine coast, Seagull Terrace had attracted thousands of visitors during summer, but then faced a tremendous downturn in business during winter. "But, given the established industries in the nearby towns, very little year-round competition, and our close proximity to Portland," Carol added, "I couldn't understand why seasonality had to hit Seagull Terrace so hard!"So Carol spent her first winter devising a new marketing plan. She put together a promotional package designed to attract business travelers year-round. Carol's plan also involved a seasonal promotional gimmick-to be implemented from early winter to late spring-that would attract the same numbers as the large summer crowd. Her idea worked! During her second winter, Carol greeted numerous business travelers-both satisfied repeat guests as well as new guests who had been snagged by her promotional appeals."We still have a long way to go," Carol admitted. "Our delicatessen offers entrees that are a part of the local cuisine, but we'd like to expand that. We provide health club privileges off-site, but we'd like to eventually provide our own. These are goals I hope to achieve in a few years. Our first project, however, included a renovation of our guest rooms and I'm quite proud of the results." Carol then added, "Actually there are so many possibilities. With an indoor pool area, I will eventually offer weekend getaways throughout winter."Renovations of the guest rooms at the Seagull Terrace and plans to add an indoor pool area are examples of the ________ concept. Select one: a. selling b. marketing c. product d. production e. societal marketing

product

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

Renovations of the guest rooms at the Seagull Terrace and plans to add an indoor pool area are examples of the concept.

product

The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features.

product

Which of the following marketing management concepts is most closely aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer high quality, performance, and innovative features?

product

Qtopia Inc. is currently designing a new product line with the goal of making each product easy to recover, reuse, or recycle. Qtopia Inc. hopes to recover many of these products when they reach the end of their life cycle and reuse components in new products. Qtopia Inc. is in the ________ stage of environmental sustainability.

product stewardship

Qtopia Inc. is currently designing a new product line with the goal of making each product easy to recover, reuse, or recycle. Qtopia Inc. plans to recover many of these products when they reach the end of their life cycle and reuse components in new products. In this case, Qtopia Inc. is demonstrating ________.

product stewardship

The Card Company strives to recover, reuse, and recycle paper at the end of its life cycle to be used in the production of all new greeting cards. In fact, a hundred percent of all of its cards are made from recycled materials. In this case, The Card Company is demonstrating ________.

product stewardship

________ involves minimizing pollution from production and all environmental impacts throughout the full life cycle of goods.

product stewardship

Henry Ford's philosophy was to perfect the Model T so that its cost could be reduced further for increased consumer affordability. This reflects the ________ concept

production

Henry Ford's philosophy was to perfect the Model T so that its cost could be reduced further for increased consumer affordability. This reflects the ________ concept.

production

Henry Ford's philosophy was to perfect the Model T so that its cost could be reduced further for increased consumer affordability. This reflects the concept.

production

Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This reflects the ________ concept.

production

When demand for athletic shoes produced by Nike and endorsed by Michael Jordan is high, Nike limits how many pairs of shoes are manufactured. This action maintains strong demand by limiting supply. This decision contradicts the philosophy of which marketing concept?

production concept

What are deficient products?

products that have neither immediate appeal nor long-run benefits

Customer satisfaction is a goal that companies strive to earn. Companies can achieve customer delight by '

promising only what they can deliver and then delivering more than they promise

________ segmentation divides buyers into different segments based on social class, lifestyle, or personality characteristics.

psychographic

As part of the rapid globalization of today's economy, companies are selling more domestically produced goods in international markets and

purchasing more supplies abroad

As part of the rapid globalization of today's economy, companies are selling more domestically produced goods in international markets and ________.

purchasing more supplies abroad

Which of the following are Americans not consuming and using as much of anymore?

razors

Critics claim that the urban poor often have to shop in smaller stores that carry inferior goods and charge higher prices because the large, national chain stores refuse to establish stores. This is known as the discriminatory practice of ________.

redlining

When major chain retailers avoid placing stores in disadvantaged neighborhoods, they are accused of the discriminatory practice of ________.

relining

In addition to attracting new customers and creating transactions, the goal of marketing is to ________ customers and grow the company's business.

retain

The challenge posed by ________ products is to add some agreeable qualities so that they will become more desirable in the consumers' minds.

salutary

The societal marketing challenge for makers of which type of product is to add some agreeable qualities so that it will become more desirable in the consumers' minds?

salutary

Google Trends is an example of ______ data.

secondary

Innovative marketing most likely involves ________.

seeking real product and marketing improvements

People tend to interpret new information in a way that will support what they already believe. This is called _____

selective distortion

Carol Veldt's plan also involves a seasonal promotional gimmick that she wants to promote aggressively. This is an example of the concept.

selling

Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside motel to a thriving year-round resort in just a few years. Atop a cliff overlooking the Maine coast, Seagull Terrace had attracted thousands of visitors during summer, but then faced a tremendous downturn in business during winter. "But, given the established industries in the nearby towns, very little year-round competition, and our close proximity to Portland," Carol added, "I couldn't understand why seasonality had to hit Seagull Terrace so hard!"So Carol spent her first winter devising a new marketing plan. She put together a promotional package designed to attract business travelers year-round. Carol's plan also involved a seasonal promotional gimmick-to be implemented from early winter to late spring-that would attract the same numbers as the large summer crowd. Her idea worked! During her second winter, Carol greeted numerous business travelers-both satisfied repeat guests as well as new guests who had been snagged by her promotional appeals."We still have a long way to go," Carol admitted. "Our delicatessen offers entrees that are a part of the local cuisine, but we'd like to expand that. We provide health club privileges off-site, but we'd like to eventually provide our own. These are goals I hope to achieve in a few years. Our first project, however, included a renovation of our guest rooms and I'm quite proud of the results." Carol then added, "Actually there are so many possibilities. With an indoor pool area, I will eventually offer weekend getaways throughout winter."Carol Veldt's plan also involves a seasonal promotional gimmick that she wants to promote aggressively. This is an example of the ________ concept.

selling

selling concept

A class-action lawsuit was brought against a national burger chain, charging that its food contributed to the nationwide obesity epidemic. The suit was eventually dismissed, but critics continue to point out the health dangers of many fast food menu items. From the description, it can be concluded that these critics are concerned that the fast food industry is ________.

selling harmful products

"Doing good" and "doing well" are considered a double bottom line of values and profits for many organizations. Profits sometimes suffer as a result. This is one of the challenges of ________ marketing.

sense of mission

Doing good" and "doing well" are considered a double bottom line of values and profits for many organizations such as TOMS. Profits sometimes suffer as a result. This is one of the challenges of ________ marketing.

sense-of-mission

Doing good" and "doing well" are considered a double bottom line of values and profits for many organizations. Profits sometimes suffer as a result. This is one of the challenges of ________ marketing.

sense-of-mission

Lakeland Inc. employees get 40 hours paid leave each year to pursue volunteer projects. The company runs a service day that hosts projects in 25 countries, and it supports a nonprofit that brings young people into public service for a year. Lakeland could be most accurately described as practicing ________ marketing.

sense-of-mission

Large marketing companies can use patents and heavy promotion spending to ________.

set up barriers for others wanting to enter the industry

Keith, a clothing store owner, offers product suggestions to customers based on their current purchases. Which of the following is Keith trying to increase?

share of customer

The portion of the customer's purchasing that a company gets in its product categories is known as 4

share of customer

The portion of the customer's purchasing that a company gets in its product categories is known as _____

share of customer

Family is one of the ________ factors that influence consumer behavior

social

social marketing

Government agencies design ________ to encourage energy conservation and discourage smoking, excessive drinking, and drug use.

social marketing campaigns

Government agencies design to encourage energy conservation and discourage smoking, excessive drinking, and drug use.

social marketing campaigns

Facebook, Snapchat and LinkedIn are all examples of _____

social networks

Iceco Inc., an ice cream manufacturing company, encourages all stakeholders, including the top management and all employees, to consider individual and community welfare in their day- to-day decisions. This action undertaken by Iceco reflects ________.

social responsibility

Iceco Inc., an ice cream manufacturing company, encourages all stakeholders, including the top management and all employees, to consider individual and community welfare in their day-to-day decisions. This action undertaken by Iceco reflects

social responsibility

Iceco Inc., an ice cream manufacturing company, encourages all stakeholders, including the top management and all employees, to consider individual and community welfare in their day-to-day decisions. This action undertaken by Iceco reflects ________.

social responsibility

Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to the national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ concept

societal marketing

The ________ concept holds that firms must strive to deliver value to customers in a way that maintains or improves both the consumer's and society's well being.

societal marketing

The ________ concept specifically focuses on the future welfare of customers, but not on future company needs.

societal marketing

Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ philosophy.

societal marketing concept

societal marketing concept selling concept

______ are high-share business units in the high-growth markets that require a lot of cash to sustain their growth.

stars

A mission statement serves as a _____

statement of the organization's purpose

The ________ concept specifically focuses on future company needs, but not the future welfare of customers.

strategic planning

Which of the following is true with regard to strategic planning?

strategic planning involves developing and maintaining fit between the company's goals and the changing marketing environment

Through , companies today are strengthening their connections with all partners, from providers of raw materials and components to those involved in the delivery of final goods and services.

supply chain management

Through ________, companies today are strengthening their connections with all partners, from providers of raw materials and components to those involved in the delivery of final goods and services.

supply chain management

Which of the following is NOT a form of mechanical data collection?

surveys

________ serves as a guide to the future, laying out how a company's products and services, processes, and policies must evolve and what new technologies must be developed to get there.

sustainability vision

________ marketing calls for meeting the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

sustainable

The ________ concept focuses on the future welfare of consumers and future company needs.

sustainable marketing

The ________ concept holds that a company's marketing should support the best long-run performance of the marketing system

sustainable marketing

The ________ concept holds that a company's marketing should support the best long-run performance of the marketing system.

sustainable marketing

A ________ consists of a set of buyers who share common needs or characteristics that the company decides to serve

target market

18) Selecting which segments of a population of customers to serve is called ________.

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

target marketing

Family Dollar stores profitably focusing on buyers who have relatively modest means is an example of ________.

target marketing

Selecting which segments of a population to serve is called ________.

target marketing

Selecting which segments of a population to serve is called

target marketing differentiation

The objective of causal research is to ______

test hypotheses about cause-and-effect relationships

Innovative marketing is ________.

the attempt to continuously seek real product and marketing improvements

Validity is

the degree to which a measure is measuring what it is supposed to measure

Which of the following best describes a strategic business unit?

the key business that makes up a company

Which of the following uses a customer-centered "sense-and-respond" philosophy rather than a product-centered "make-and-sell" philosophy?

the marketing concept

Needs include all of the following EXCEPT

the newest iphone

Which of the following is a traditional right of buyers?

the right not to buy a product that is offered for sale

Which of the following is a traditional right of sellers?

the right to introduce any product in any size and style, provided it is not hazardous to personal health or safety

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

Customer equity refers to ________.

the total combined customer lifetime value of all of the company's current and potential customers

A defining characteristic of nonprobability samples is that:

they involve personal judgement in the element selection process

Marketing in the non-profit sector is applied in all but which of these ways?

to publicize the organization's supporters

A SWOT analysis allows a marketer to evaluate the company's overall strengths, weaknesses, opportunities and threats.

true

Corporate marketing ethics policies should most likely address distributor relations, advertising standards, customer service, pricing product development, and general ethical standards

true

Deceptive packaging includes exaggerating package contents through subtle design and misleading labels.

true

Developing biodegradable packaging and implementing energy-efficient operations are examples of pollution prevention activities.

true

Each basic consumer right has led to more specific proposals from consumerists, such as nutritional and ingredient labeling.

true

Many company and brand Web sites also serve as online brand communities, where customers can congregate and exchange brand-related interests and information.

true

Marketing critics claim that the inevitable outcome of successful marketing is unsustainable overconsumption.

true

Marketing critics claim that the overselling of private goods results in social costs.

true

Operating control involves checking ongoing performance against the annual plan and taking corrective action when necessary.

true

Social media sites with small audiences, such as Birdpost.com, can be as effective in creating customer engagement as sites with large audiences, such as Pinterest.

true

The four marketing management functions are analysis, planning, implementation, and control.

true

The overselling of private goods results in social costs.

true

Customers can be classified into four relationship groups based on their profitability and projected loyalty. Which customer type is associated with high profitability and long-term loyalty?

true friends

Customers can be classified into four relationship groups based on their profitability and projected loyalty. Which customer type is associated with high profitability and long- term loyalty?

true friends cash cows

A successful CRM program is expected to help a company achieve all of the following EXCEPT ___________.

understand the competition better

According to the five-step model of the marketing process, a company should before designing a customer-driven marketing strategy.

understand the marketplace and customer needs and wants

According to the simple five-step model of the marketing process, a company needs to ________ before designing a customer-driven marketing strategy.

understand the marketplace and customer needs and wants

Critics who assert that the marketing system promotes too much interest in material possessions are most likely concerned that the result of successful marketing will be ________.

unsustainable overconsumption

Following the change in consumer values and consumption patterns after the Great Recession, marketers have changed their marketing strategies to emphasize the ________ of their products.

value

Following the change in consumer values and consumption patterns after the Great Recession, marketers have changed their marketing strategies to emphasize 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

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

Usage occasions focus on _____________customers buy.

when

When are sellers most effective?

when they focus more on the benefits and experiences produced by their products and services

Companies can research many aspects of buying decisions. However, the one that marketers typically struggle with the most is learning _________.

why consumers buy

The selling concept is typically practiced

with goods that buyers normally do not think of buying

The selling concept is typically practiced ______

with goods that buyers normally do not think of buying

Digital technology allows companies to reach out to customers in numerous ways. Which of the following is NOT the purpose of a company reaching out using digital and social media?

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