Marketing 3100 TF
A marketer needs "buzz" to increase the success of the product diffusion process
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Multiculturalism occurs when all major ethnic groups in an area are roughly equally represented.
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A typical discount store competes by carrying a full line of low-turnover, high-margin goods
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AIDA stands for Attention-Interest-Decision-Action
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Advertising is any form of personal, one-way mass communication in which the sponsor is concealed
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AkPharm, Inc. has developed Cat-Sip, a lactose-free milk designed to be digestible by cats. The market for this product is cats.
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All promotions are designed to inform, pursue, or remind the target audience of a product or service
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Coupons are more likely to encourage repeat purchases by regular users than stimulate product trial by nonusers
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If the Pillsbury Company started a major promotional campaign for its a major promotional campaign for its Green Giant frozen vegetables aggressive advertising and cents-off coupons to existing customers, it would be following a market development strategy.
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In the diffusion process, marketers spend most of the advertising funds on the late majority and laggards
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Marketing is defined only as promoting and selling products.
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One of the trends in Corporate Social Responsibility is to minimize opportunities in environmental
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Profits typically reach their peak during the maturity stage of the product life cycle
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Sales promotion is a promotional tool generally used to stimulate long-term increases in product demand.
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Strategic planning is most effective when managers view it as an annual exercise.
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The concept of marketing is the idea that people give up something to receive something.
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The emergence of the Internet has made buying and selling in the business market a process that is only efficient for the largest producer to pursue.
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The only marketing mix component nonprofit organizations do not use is price
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The six Ps of the retailing mix are product, place, price, promotion, personnel, and planning
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The use of supply chain management results in higher inventory management costs
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A blend of more advertising and sales promotion and less personal selling is useful when the target market is informed, loyal to the product in question, and geographically widely scattered.
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A common way to conduct a situation analysis is to perform SWOT analysis, which means examining the company's environments for strengths, weaknesses, opportunities, and threats.
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A competitive advantage is some unique aspect of a firm's offering, or of the firm itself, that causes target customers to patronize the firm rather than its competition.
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A marketing channel is a business structure composed of interdependent organizations that reach from the point of product origin to the consumer. Its purpose is to move products to their final consumption destination
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A marketing exchange cannot take place unless each party in the exchange has something that the other party values.
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A serious problem that ma be caused by test marketing is that a firm's competitors can find out about the new product before it has been fully introduced
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All U.S. new product sales have an implied warranty
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All employees need to be customer-oriented because in the customer's eyes, the employee is the is the firm and may be the only firm representative the customer ever sees.
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Although marketers can control the marketing mis, they cannot control the external environment in which their organization operates.
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Belk's department stores offers its corporate employees flexible work hours, work-at-home programs, on-site childcare, and travel benefits that reward quality performance. Belk's approach illustrates internal marketing in action
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Competitive intelligence allows managers to predict changes in business relationships, identify market opportunities, and discover new or potential competitors.
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Consumable items that do not become part of the final product are called supplies.
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Cultural traits can make a package design successful in one country and a failure in another
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Customer value is the ratio of benefits to the sacrifice necessary to obtain those benefits.
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Disintermediation is the elimination of wholesalers and distributors from the marketing channel.
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Even though the growth of the service sector worldwide has been sluggish in the past decade, the service sector now accounts for approximately three-fourths of the gross national product in the United States.
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For a firm that adheres to the marketing concept, the logical place to start generating new product ideas is with the customers of the firm
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For a retail operation requiring a storefront, the component of the marketing mix is called place is most important.
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Generic brand names are those brand names that have become generic and now identify products by class or type, such as aspirin, cellophane, thermos, or shredded wheat
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Geography, psychographics, and benefits sought are examples of possible segmentation variables used by marketers.
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Having a global vision means management recognizes and reacts to international marketing opportunities, is aware of threats from foreign competitors in all markets, and effectively utilizes international distribution networks.
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If consumer behavior is not well understood, a marketer willl have difficulty creating an appropriate marketing mix.
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Innovators and laggards represent the beginning and end of the product diffusion process
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Many cooks believe hat nothing can beat Mrs. B's Biscuits for making delicious biscuits. Loyal customers are willing to go to great lengths to find this product and will accept no substitutes. Mrs. B's Biscuits are only marketed in New England states. Mrs. B's Biscuits are a specialty product.
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Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.
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Marketing strategy involves the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets.
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Promotion is communication designed for the target market by marketers that informs, persuades, and reminds potential buyers of a product in order to influence their opinion or elicit a response
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Recession is a general rise in prices with a corresponding increase in wages, which results in decrease in purchasing power.
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Retailers who have given their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using EMPOWERMENT
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Selective distortion occurs when consumers change information that conflicts with their feelings or beliefs.
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Services are considered intangible because most services can NOT be felt or touched in the same way products can be sensed.
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Sough Western Publishing sells its business textbooks to college, bookstores, which in turn sell the books to students. South western is engaged in business marketing.
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The goal of advertising is to change people's attitudes
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The marketing concept states that the social and economic justification for an organization's existence is the satisfaction of customer's wants and need while meeting organizational objectives.
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The marketing plan is written document that acts as a guidebook of marketing activities for a marketing manager.
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The most important factor in product failures is a poor match between product characteristics and customer desires
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The most important functions of packaging are to contain and protect products, promote products, facilitate product storage, and facilitate recycling
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The phenomenon of working women has probably had a greater effect on marketing than has any other social changes.
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The ultimate goal of most marketing oriented firms is profitability that results form satisfying the wants and needs of its consumers.
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To a marketer, the definition of a product includes intangibles as well as physical, tangible goods.
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Trade shows are an excellent place to introduce new products to the marketplace
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Use of the internet can cut marketing research costs by 25 to 40 percent an provide results in half the time it takes to do traditional telephone surveys.
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