Marketing
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
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
