business 10/28 hw

Which of the following is true of the influence culture has on the implementation of a firm's marketing mix?

A company that ignores cultural norms and differences can make some very expensive and embarrassing mistakes.

In the context of the four Ps of the marketing mix, which of the following best corresponds to a decision regarding price?

A company's decision to allow a month-long credit period for bulk purchases

Which of the following best represents a sociocultural influence that affects a customer's buying decisions?

A customer buying a smartphone that is very popular among the person's friends

A __________ is a large market where businesses purchase goods and services from other businesses.

B2B market

Which of the following is true of the nature of B2B markets in comparison with other types of markets?

B2B markets are generally more relationship-driven than product-driven.

Fashion Now uses crowdsourcing to solicit new fashion ideas from its customers. The company also has a social networking site where its customers can upload pictures of themselves in their latest and greatest outfits. Which of the four Cs in the revised marketing mix does this scenario represent?

Communication

Kaolin, Inc., a clothing store, has increased its interaction with customers via phone, e-mail, and social networking websites. This has helped the store to keep the customers informed about new collections and upcoming seasonal sales. In return, the customers give feedback about the services provided by the store. Which of the four Cs in the revised marketing mix does this scenario represent?

Communication

Which of the following is true of the four Cs approach to the marketing mix?

Cost replaces pricing.

According to the four Cs of the marketing mix, which of the following corresponds to the customer element?

Customers expect a product to deliver individual solutions rather than a standard solution.

Which of the following is true of a marketing strategy?

It aims to promote and provide a product to customers at an appropriate price and place.

Which of the following best describes the product aspect of the marketing mix?

It helps a company determine what a customer wants from a product and how it satisfies a particular need.

Which of the following best describes the marketing era?

It was an era in which consumers were beginning to tire of "hard sell" tactics, so businesses began devising clever advertising and promotional campaigns.

Which of the following illustrates the influence of culture on how a firm implements its marketing mix?

Nike had to apologize for having offended Chinese officials by depicting culturally revered Chinese figures in an advertisement.

Which of the following is the final step in the marketing process?

Nurturing good customer relationships

__________ that affect customer buying decisions are shaped by a person's age, gender, economic situation, lifestyle, and personality.

Personal influences

In the past few years, Keesha learned a great deal about global warming and pollution, which she finds disturbing. As a result, she recently purchased an electric car. Which of the following influences are affecting Keesha's buying patterns in this case?

Psychological influences

Michele is walking home from work when she gets caught in a rainstorm. To get out of the rain, she goes into a convenience store and purchases an umbrella. What of the following led to Michele's buying decision?

Situational influences

_____________ that affect customer buying decisions include the physical surroundings, the social surroundings, and the type of product purchased.

Situational influences

Which of the following best describes the sales era?

Supply far exceeded demand for most products; therefore, competition for customers became more intense and businesses began to undertake aggressive sales tactics to sell or "push" their products.

Pick and Pack, a grocery chain, purchases the products it sells in which of the following markets?

The business-to-business (B2B) market

Melanie works for the grocery store Pick and Pack, which sells products in which market?

The business-to-consumer (B2C) market

Which of the following statements is true of the consumer buying process?

The buying process can be interrupted at any time with a "no purchase" decision.

Which era began in the late 1990s and continues today?

The customer relationship era

Which of the following is the final step in the consumer buying process?

The postpurchase evaluation

Which era lasted from the mid-1920s through the early 1950s?

The sales era

On which of the following does a marketing strategy focus?

The target market and the marketing mix

Sun Electronics, Inc., a company producing electronic goods, plans to launch a new range of high-definition televisions. The company hires a marketing researcher to obtain information about existing customer preferences in order to customize its promotional campaign for maximum effect. However, the company cannot afford to spend too much on marketing research because it is still growing. Which of the following methods should the marketing researcher employ to obtain this information in the most cost-effective way?

Use Internet search engines to obtain information on the types of televisions most frequently sold.

A B2B market is ____________.

a large market where businesses purchase goods and services from other businesses

During the __________ era, organizations have tried to intensify their focus on customer satisfaction over time.

customer relationship

The goal of _____________ is to establish long-term, trusting relationships with individual customers to foster loyalty and repeat business.

customer relationship management (CRM)

During the __________, consumers were beginning to tire of "hard sell" tactics, so businesses began devising clever advertising and promotional campaigns.

marketing era

Mary and Mike Stelter are both in their mid-50s. They have decided to purchase long-term insurance that will pay for the cost of their having to a live in a rest home for an extended period of time. Which of the following are driving Mary and Mike's decision?

personal influences

The __________ component of the marketing mix includes company activities such as distribution channels and transportation that make a product or service available to target consumers.

place

The ______________ component in the marketing mix refers to all the methods involved in getting a product into the hands of customers.

place

Among the four Ps of the marketing mix, coupons and discounts are marketing tools related to the element of __________.

price

Health Nation, Inc. plans to develop a new protein formula that helps obese people lose weight safely. The company is willing to invest a large amount of money in the research and development required. The company also plans to introduce the protein mix in three different flavors and sell it under the brand name Prothin. Employees involved in this project have been promised good promotions if the protein formula becomes successful. Which of the four Ps of the marketing mix has been described in the scenario?

product

Buying decisions affected by differences in a buyer's motivation, perception, attitudes, and learning are __________.

psychological influences