Marketing CH 6-10

snap chat

A major benefit of social media marketing is the ability to reach new target markets, such as Millennials. A firm wishing to target Millennials would be advised to use

popular blog

A positive review of a product or service posted on a(n) ____________ can result in a substantial increase in sales of the product or service.

sampling.

A representative product taken from a lot or batch, evaluated, and purchased refers to

sociocultural

Malcolm, a corporate buyer, is meeting with Riku, a sales representative from a high-tech firm based in Osaka, Japan to try to arrange a sale. Malcolm is surprised when Riku presents him with an elegantly wrapped bottle of expensive Japanese whiskey. Such gifts are the norm in Japanese culture in business negotiations, but Malcolm worries that accepting the gift could be interpreted as a bribe. This misunderstanding is the result of _____ differences.

Businesses follow a defined buying decision process in order to ensure the goods and services they purchase will meet their organization's needs. The process has multiple stages, and in one of the stages the business will evaluate each component of potential purchase. This includes evaluating the quality, design, materials and any other relevant aspect of the purchase. This evaluation takes place in which of the following stages of the business buying decision process?

Third stage - Search for potential products

social networking sites

_____ are especially useful for relationship marketing.

The World Trade Organization accomplishes all of the following except

lending money to businesses interested in developing international markets.

Which of the following is an example of benefit segmentation?

.Colgate-Palmolive markets three types of toothpaste: toothpaste with fluoride to strengthen tooth enamel, toothpaste with whitening properties, and toothpaste for sensitive gums.

A furniture maker with excess production capacity may find a differentiated strategy advantageous because the sale of products to additional segments can

.help to absorb excess capacity

organization

After certain inputs have been selected to reach an individual's awareness, the next step in the perceptual process is perceptual

Limited decision making

Bianca is looking for a Mother's Day gift for her mom and wants to purchase some type of perfume or cologne. She knows that her mom currently wears a perfume made by Christian Dior called Miss Dior. When she arrives at the perfume counter, she notices that Christian Dior has several new scents available and a variety of gift boxes that also include powder and body lotion. Bianca is trying to decide what to purchase-whether to try a new fragrance or not. Bianca is willing to spend time trying the different scents, but since the gift boxes only cost $75, there's not a lot of risk involved. What type of consumer decision will this purchase most likely be for Bianca?

Segmentation

Characteristics of individuals, groups, or organizations that are used for dividing a total market into smaller homogeneous groups are called ____ variables.

consumer socialization

Children often achieve ____ by observing parents and older siblings in purchase situations and then through their own purchase experiences.

contract manufacturing

If H&M relies on hiring a foreign textile manufacturer to produce a designated amount of clothing for its stores, it is using

resale, direct use in producing other products, and use in daily business operations.

In business markets, individuals or groups purchase products for one of three purposes. These purposes are