Marketing Final
____ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs
Marketing Myopia
Asian Americans
_______ are the most affluent and brand conscious demographic segment in the Unites AStates
Consumerism
_______ is an organized movement of citizens and government agencies to improve the rights and power of buying in relation to sellers
Sustainabile
_______ marketing calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while also [perserving or enhancing the ability of future generations to meet their needs
Customer Equity
________ is the total combined customer lifetime values of all the company's current and potential customers.
Mission Statement
a statement of the organization's purpose - what it wants to accomplish in the larger environment
Societal Marketing
Cosmetic retailer Lush knows that doing what's right benefits both customers and the company. Their premium beauty products are made by hand from the freshest possible natural ingredients. This is an example of the _____ concept.
True
Deceptive packaging includes exaggerating package contents through subtle design and misleading labels
Mission Statement
A _____ is purposeful, specifying what an organization wants to accomplish in the larger enviorment
False
A companies customer value delivery network does not include members external to the organization.
Diversification
A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets
Market Segment
Ferrari sells only 2,200 off its very high performance cars in North America each year at very high prices. The company is appealing to a specific ____
Live the Brand
Imaginative Web sites, smartphone apps, and social media allow marketers to deliver messages that are direct and personal so consumers
opportunity
In a SWOT analysis, ______ refers to favorable factors or trends in the external environment that a company may be able to exploit to it's advantage.
Reorders something without any modifications
In a straight rebuy, a buyer ______.
True
In the marketing mix, [roducts includes the goods and services the company offers to the target market, while promotion includes advertising.
Dividing a market into several sections of customers is known as ________.
Market Segmentation
Societal Marketing
The ______ concept holds that firms must strive to deliver value to customers in a way that maintains or improves both the consumer's and society's well being
Product, price, place, and promotion
The major marketing mix tools are classified into four broad groups called the four P's of marketing. They are________
Generation Z
They are the wealthiest generation in U.S. hiSTORY
Segmantation
Traxx is a newly emerging shoe manufacturing company. After extensive market research, Traxx divides its market into professional athletes, "hobbyists" or ameturs players
The family
What is the most important consumer buying organization in society?
Demands
When backed by buying power, wants become _______
Generation Z
Which generational group consists of the kid, tween, and teen markets
Needs Recognition
Which of the following is the first stage of the buyer decision process?
need recognition
Which of the following is the first stage of the buyer decision process?
Word of Mouth influence
____ has the most powerful impact on consumer buying behavior
A market
____ is a set of actual an potential buyers of a product
Exchange
____ is the act of obtaining a desired object from someone by offering something in return
Wants
_______ are human needs as shaped by individual personality and culture
Trye
sUBcultures are groups of people with shared value systems based in common life experiences and situations
