Marketing Midterm
What percentage of customers consider how companies treat their employees before considering where to buy or how to shop?
84%
What are the factors that influence Lifestyles?
Activities, interest, opinions
What is the highest spending age demographic?
Baby boomers
What is the marketing of goods to individuals and organizations for purposes other than personal consumption called?
Business marketing
What are the parts of market analysis?
Company, communication, competition, corporation
Which of the following is an advantage of the CRM system?
Develops deeper relationships with customers
What is an example of an ethical responsibility?
Do what is right
Which of the following is a trait of social CRM?
It enables marketers to focus more on relationships
What is a requirement for an interaction?
It occurs at touch point
What is an argument against social responsibility?
It spends shareholder's money on environmental initiatives
What is not a type of sustainability?
Legal sustainability
Which organization is mentioned as a leader in social responsibility?
Patagonia
What is the main way companies differentiate between customers?
Profitable vs Nonprofitable
The belief that people will buy more goods and services if aggressive sales techniques are used and that high sales lead to high profits is called a/an:
Sales orientation
Which part of the external environment did Levi Jean Co. fail to understand?
Social
What is a main reason business needs government regulations?
To protect the interest of society and consumers
What are the two (2) types of dissatisfied customers?
angry and silent
What describes "The warm glow"
being socially responsible, concern for the environment, being a good public servant
What is the formula for determining customer value?
benefits - cost
A strategy of increasing sales by introducing new products into new markets is called:
diversification
People giving up something in order to receive something else they would rather have is called a/an:
exchange
Which of the following is most likely a reason why customers switch?
inconvenience
A marketing strategy that entails attracting new customers to existing products is:
marketing development
A managerial process of creating and maintaining a fit between the organizational objectives and resources with the evolving market opportunities is called:
strategic planning
What is a group of people for which an organization designs, implements and maintains a marketing mix called?
target market
Which of the following factors tends to influence ethical decision-making and judgment?
top management actions on ethics
Which airline failed to respond to a passenger's broken guitar?
united
What is social CRM?
use of social media services, techniques and technology to enable organizations to engage with their customers.
What percent of customers are more likely to consider a company involved in a worthwhile cause?
76%
Which of the following is not a stakeholder of a typical corporation?
Governments
What is the development of products designed to minimize negative effects on the environment called?
Green Marketing
What are the three (3) objectives of branding?
Identification; repeat sales; the introduction of new products
What is the first step of the Customer Relationship Management cycle?
Identify customer relationships
What is the goal of strategic planning?
Long-run profitability and growth
The idea that social and economic justification for an organization's existence is the satisfaction of the customer's wants and needs is called:
Marketing Concept
Which of the following is a major category of customers in business marketing?
Resellers
What is the difference between business products and customer products?
intended use