Marketing

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studies about education show that those who didnt graduate from hs have an average annual salary of

$23,000

what is the estimated buying power of tweens

$260 billion annually

studies about education show that those who graduated from hs make

$32500

in ______ of the five-step marketing planning process, marketing managers are responsible for implementing the marketing mix using the four Ps

4

the _______ of the 5-step marketing planning process, marketing managers are responsible for implementing the marketing mix using the four Ps

4th step

maco factors include all but

CEO's behavior

____ is attempting to take market share from FB attracting the gaming community, adding several games in its lineup

Google+

step 4 of the five-step marketing planning process is the point at which

a firm implements the four Ps

outlines what a firm plans to do to appeal to potential customers

a marketing strategy

which are not categories of social media tools available to marketers

account-sharing sites and sweepstakes sites

an app that is free to download, but places ads on the screen when using it in order to generate revenue, is known as as

ad-supported app

the process by which businesses sell to consumers is known as

b2c

how do marketers determine price

based on consumers belief of value

born 1946-1964

bb boomers

the social-media equivalent of a personal journal/ diary is

blog

the percentage of customers who leaves the site almost immediately is called

bounce rate

During a social media marketing campaign, step 4 is to ensure that an adequate _____ is in place to support the campaign

budget

_____ show how users move through the pages of a website

click paths

consumers in a generational ___ are a group of ppl of the same generation having similar purchase behaviors bc they have shared experiences are in the same stage of life

cohort

the most important immediate environmental factors that impact consumers are

company, competition, and corp partners

a _______ is an advantage over the competition that is not easily copied and can be maintained over a long period of time

competitive advantage

in the immediate environment it is critical that marketers understand their firm's ____ such as strengths, weaknesses, and reactions to marketing activities that their own firm undertakes

competitors

when launching a new clothing line a company must primarily focus on the needs/ wants of whom

consumers

step 5 of the marketing plan, which entails evaluating the performance of the marketing strategy using marketing metrics and taking any necessary corrective actions is part of which phase?

control phase

the ____ rate is the percentage of visitors/ potential customers who take the action the marketer wanted them to take; for example, making a purchase, downloading a report, or subscribing to a newsletter

conversion

a marketing manager might use SWOT to determine the firm's __ competencies that identify the internal strengths and can help it to compete

core

examples of immediate environmental factors:

corporate partners, competition, company

an example of inflation would be when increasing prices cause the purchasing power of the dollar to

decline

place is expected to _______ value for the customer

deliver

place is responsible for ______ value

delivering

including soup on the menu in a delivery service introduced or retirement home daily is an EX of

diversification

the final step in the social media engagement process is known as the ___ stage

do

media sites are especially useful to ____ customers

engage

when a customer is offering feedback, they are taking action to ____ the company (opportunity to create relationship/loyalty)

engage

when attempting to ___ the customer, a firm spends considerable time explaining the benefits and features of the product, and then encourages the customer to offer feedback

engage

step 5 of the marketing plan:

evaluating the results

Marketing entails a(n) _______ between the buyer and the seller.

exchange

when tourists visit and shop in other countries bc the value of the tourists' home currency is stronger, this results from a favorable ___ rate

exchange

Which of the following is NOT one of the core principles of marketing?

exclusive

T/F: location-based software is used to ensure that a loyal customer only makes purchases from home

false

examples of social media sharing sites

flickr picasa youtube

_____ apps are apps that are free to download; however, they include in-app purchases to enhance an app/game

freemium

people born between 1965-1976

gen x

what is the largest generational cohort since the baby boomers

gen y

____ & _____ concerns have forced new advertising guidelines which require marketers to produce food in reasonably portioned sizes

health and wellness

which income group's purchasing power is growing relative to other income groups

highest income group

which industry is most likely to suffer a downturn when interest rates rise

housing market

the five steps of planning and executing a social media marketing campaign in the correct sequence:

identify strategy goals target audiences campaign: experiment and engage budget monitor/change

competition is a ___ factor

immediate

the __ environment sits within the maco-environment and is related to the elements of the industry in which the firm operates

immediate

it is possible to download a freemium app; however, in order to enhance the game/app you must make an _____ purchase

in-app

which demographic factors can help predict consumer buying patterns

income and education

A service is different from a good in that the benefit is _______.

intangible

a service is

intangible

What are the primary characteristics of a market-oriented era?

it was a buyers market and products were designed to fit the needs of the customers

Suppose that your university wants to know how website visitors find the site. it can use ____ to determine what types of searches people perform that lead them to the site

keyword analysis

the first step in the social media engagement process is known as the ___ stage

listen

The three steps in the social media engagement process

listen analyze do

a photo sharing website provides both companies and consumers an opportunity to participate in all of the following EXCEPT

little if any opportunity for people to review previous events/ideas

effective uses of corporate blogs develop ____ relationships through positive and negative comments

long term

having a broad range in incomes creates marketing opportunities at the

low and high end

a purpose of ________ programs is to identify customers through their membership information when they make purchases and they seek to have consumers make an emotional attachment to the brand

loyalty

country culture is an example of ___ factor

macro environmental

annual rate of growth of the specific market in which the product competes

market growth rate

strategy that employs the existing marketing mix and focuses the firm's efforts on increasing sales to current customers is called

market penetration

the process of defining the marketing mix variables so that target customers have a clear, distinctive, desirable understanding of what the product does or represents in comparison with competing products

market positioning

consist of consumers who respond similarly to a firm's marketing efforts

market segments

the percentage of a market accounted for by a specific entity and it defines a product's strength in particular product

market share

The activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers is referred to as _______.

marketing `

macro strategies for developing customer value does not include _____

marketing excellence

a metric is a _______ that quantifies a trend, dynamic, or characteristic

measuring system

are whites expected to experience pop growth in the US

no :(

market development

opens two stores in Australia

____ _____ measure the number of times a website page is seen by any visitor

page views

____ apps charge the customer an upfront price to download the app; however they offer full functionally once downloaded

paid

_____ blogs are written by people that receive no compensation for their efforts

personal

Marketing requires product, price, promotion, and _______ decisions.

place

in ____ analysis, management evaluates the firm's various products and business, and then allocates resources according to potential profit outlook

portfolio

the only marketing activity that actually brings in money

pricing

_______ aims to create value by providing features and benefits that meet customers' needs

product

__________ excellence is when a firm focuses on having high perceived value and effective branding and positioning

product

firms that maintain their sustainable competitive advantage through _____ excellence have often done so by investing in their brand and constantly reinforcing their image through their merchandise

product

first of four Ps is

product

the _________ _____________ strategy offers a new product or service to a firm's current target market

product development

General Electric sells a broad array of products for both businesses and consumers, from jet engines to light bulbs. GE's kitchen appliances would be considered:

product line

______ blogs are written by ppl who review and give recommendation on products/services are are sometimes compensated for doing so

professional

_______ communicates the value of the product to the consumer in many ways (advertising, social media, PR)

projection

example of penetration

promotes double patty burgers in-store and in the drive thru at a special price

the element of the 4Ps responsible for communicating value to customers

promotion

in larger countries, marketers may have to respond to diverse consumer groups that refer to product categories differently, some may say "go to a movie" others say "going to a show" this is an example of ___ culture

regional

disney has identified a _______ diversification opportunity when inquiring ABC as they are the premier family entertainment and communication companies

related

in a ...... diversification opportunity, the current target market and/or marketing mix shares something in common with the new opportunity

related

Characteristics of generation x include:

rep 41 million americans, 1965-1976, latchkey children

in the final step of the process to plan/execute a social media marketing campaign, the firm:

reviews success of it, making necessary changes

when advertisers market the same commercial globally, with same pictures/message, but in a diff language, they might try to bridge the cultural gap by appealing to

same target market

when interest rates are high, consumers have a greater incentive to ___ more, but when interest rates are low, consumers have a greater incentive to __

save, borrow

products produced/ distributed in right quantities, locations, and times

seamless supply chain

in the ____ step of the five step marketing planning process, marketers evaluate the situation by assessing how various players, both in and outside the organization, affect the firm's potential for success

second

market ______ is the process of dividing the market into groups of customers according to their needs, wants, or characteristics

segmentation

_______ _______ is a technique that analyzes consumer-generated content from a variety of social media sites, seeking to summarize customer attitudes/ preferences

sentiment analysis

Intangible customer benefits, such as a car wash or a haircut, are examples of _______.

service

when a customer visits a store to touch, feel and discuss the product with a sales associate and then compares and purchases it online at a lower price, it is known as

showrooming

_____ refers to the content distributed through social interactions

social media

without a comment feature, a corporate blog does not give customers a chance to

speak

a division of the firm itself that can be managed and operated independently from other divisions

strategic business unit (SBU)

licensing of the brand, a reputation for quality, and a large number of retail stores are examples of potential _____. These refer to internal attributes identified during a SWOT analysis.

strenghts

the process of deciding which specific segments to pursue is known as

targeting

product development

test markets adding chicken sandwiches to the menu in LA stores

why do firms use metrics?

to explain why things happen, to project the future, to compare results

television adds and newspaper ads are considers _____ ways to market products and services

traditional

newspaper is considered a

traditional mass media element

T/F: marketers can use FB to assist them in carefully selecting their target audience

true

the best-known microblog is called

twitter

Willow Creamery currently currently has 4 flavored versions of their yogurt. Willow Creamery has now decided they should also manufacture hand cream. This new growth strategy is known as .... diversification

unrelated

________ diversification takes place when a new business lacks any common elements with the present business

unrelated

what type of firm would see food sales suffer due to inflation

upscale (red lobster)

Lexus offers a back-up camera on its luxury automobiles. By eliminating blind spots and improving the safety of its vehicles, Lexus creates _______ for its customers.

value

generation _ was born into a world full of electronics/tech like internet/social networks; has lots in common/raised by generation x

z


Related study sets

AP unit 3: sensation and perception

View Set