Key Terms/Concepts Quiz 6

_____ is the process in which a firm continuously collects and evaluates information about its external environment. Environmental scanning Marketing research External monitoring Relationship marketing

Environmental scanning

_____ is the process of separating, identifying, and evaluating the layers of a market to design a marketing mix. Marketing strategy Marketing division Market segmentation Market layering

Market segmentation

_____ 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 objectives. Marketing Exchange Advertising Sales

Marketing

_____ is the act of informing, persuading, and reminding the target market about a product. Marketing Distribution Promotion Motivations

Promotion

_____ is a strategy that focuses on forging long-term partnerships with customers. Exchange targeting Transactional marketing Niche marketing Relationship marketing

Relationship marketing

_____ are distribution channel members that buy finished products from manufacturers and sell them to retailers. Manufacturers Wholesalers Service providers Product managers

Wholesalers

Selling more rainwear in Seattle than in San Diego due to the annual rainfall is an example of which type of marketing segmentation? psychological geographic psychographic volume

geographic

The four major groupings of consumer products are: brand, specialty, shopping, and generic convenience, brand, generic, and manufacturer limited, generic, specialty, and unsought unsought, convenience, shopping, and specialty

unsought, convenience, shopping, and specialty

_____ is any paid form of nonpersonal presentation by an identified sponsor. Advertising Sales promotion Branding Publicity

Advertising

_____ bring buyers and sellers together, do not title to merchandise, receive commission on sales; and have little say over company sales policies. Sales representatives Brokers Agents Wholesalers

Brokers

_____ is the set of values, ideas, attitudes, and symbols created to shape human behavior. Stimulus reaction Culture Consumer expectation Consumer impulse

Culture

_____ is the ratio of benefits to the sacrifice necessary to obtain those benefits. Price Customer satisfaction Customer value Cognitive dissonance

Customer value

_____ is the efficient management of the acquisition of raw materials to the factory and the movement of products from the producer to industrial users and consumers. Distribution Material handling Exchange Transportation

Distribution

A basic form of market segmentation that uses such variables as age, education, and income is called: benefit population psychographic demographic

demographic

There are numerous office supplies manufacturers. U.S.-based Esselte concentrates on selling filing products and desktop products such as staplers and pen sets. Because the Esselte brand is recognized as an innovative leader in the development of filing products and desktop items, the company can be said to have a(n): differential competitive advantage comparative advantage value-based strength promotional emphasis

differential competitive advantage

The _____ is a series of marketing entities through which goods and services pass on their way from producers to end-users. distribution channel vertical integration process consumption channel industrial channel

distribution channel

Which of the following is an example of a social factor that influences the consumer decision-making process? family attitude personality values

family

The _____ is the belief that the firm should dedicate all of its planning, policies, operations, and efforts to the satisfaction of the customer. marketing concept market approach market mission statement exchange relationship

marketing concept

Within the distribution channel, retailers and wholesalers are called: movement facilitators marketing intermediaries inventory control agents logistical managers

marketing intermediaries

The _____ is based on the five P's. marketing mix advertising mix production mix target market

marketing mix

A face-to-face sales presentation of a good or service to a prospective customer is called: market research comparative selling personal selling sales promotion

personal selling

When planning _____ strategy, a manufacturer will deal with wholesalers and retailers. pricing place (distribution) promotion product

place (distribution)

Maria Manow is planning to sell handmade quilts over the Internet. As she decides what to charge for a full-sized quilt, Manow will calculate her fixed and variable costs. At this point, Manow will be developing her _____ strategy. pricing possession promotion place

pricing

Mike and Ike, the fruit-flavored chewy candies, needed a major facelift. The brand had a small but loyal core of "munchers." A relatively small brand, it needed visibility to take on share leaders like Starburst and Skittles. The company changed its packaging and developed contests all geared to 12- to 17-year-olds. The makers of Mike and Ike have modified its _____ strategies. promotion and place promotion and price product and promotion place and price

product and promotion

The process that products go through as they pass through their introduction, growth, maturity, and decline stages is called the: product life cycle marketing mix stages of product development product mix cycle

product life cycle

Personal selling, advertising, public relations, and sales promotions are decisions made when planning the _____ strategy. place product pricing promotion

promotion

The _____ is the combination of advertising, personal selling, sales promotion, and public relations used to promote a product. promotional mix product strategy sales mix marketing mix

promotional mix

In 2006, consumers held on to a 2007 Chevrolet Monte Carlo at the State Fair of Texas in an endurance competition that tested consumers to see who can hold on to the car the longest to win it. An article in USA Today about the winner of the competition is an example of which promotional activity? advertising personal selling media handling public relations

public relations

The _____ is a specific group of consumers toward which a firm directs its marketing efforts. population sample target market utility group demand group

target market

Life Savers Gummies Fruit Splosions, liquid-filled gummies combined with a burst of real fruit juice, are a new product for The Wrigley Co.. Before marketing the product nationwide, Wrigley gave out samples of the candy at several rock concerts and then recorded consumers' feelings about the candy, its taste, and its name. In which stage of the new-product development process would this have happened? focus group management test marketing prospecting screening

test marketing