Marketing Midterm

What percentage of customers consider how companies treat their employees before considering where to buy or how to shop?

84%

What are the factors that influence Lifestyles?

Activities, interest, opinions

What is the highest spending age demographic?

Baby boomers

What is the marketing of goods to individuals and organizations for purposes other than personal consumption called?

Business marketing

What are the parts of market analysis?

Company, communication, competition, corporation

Which of the following is an advantage of the CRM system?

Develops deeper relationships with customers

What is an example of an ethical responsibility?

Do what is right

Which of the following is a trait of social CRM?

It enables marketers to focus more on relationships

What is a requirement for an interaction?

It occurs at touch point

What is an argument against social responsibility?

It spends shareholder's money on environmental initiatives

What is not a type of sustainability?

Legal sustainability

Which organization is mentioned as a leader in social responsibility?

Patagonia

What is the main way companies differentiate between customers?

Profitable vs Nonprofitable

The belief that people will buy more goods and services if aggressive sales techniques are used and that high sales lead to high profits is called a/an:

Sales orientation

Which part of the external environment did Levi Jean Co. fail to understand?

Social

What is a main reason business needs government regulations?

To protect the interest of society and consumers

What are the two (2) types of dissatisfied customers?

angry and silent

What describes "The warm glow"

being socially responsible, concern for the environment, being a good public servant

What is the formula for determining customer value?

benefits - cost

A strategy of increasing sales by introducing new products into new markets is called:

diversification

People giving up something in order to receive something else they would rather have is called a/an:

exchange

Which of the following is most likely a reason why customers switch?

inconvenience

A marketing strategy that entails attracting new customers to existing products is:

marketing development

A managerial process of creating and maintaining a fit between the organizational objectives and resources with the evolving market opportunities is called:

strategic planning

What is a group of people for which an organization designs, implements and maintains a marketing mix called?

target market

Which of the following factors tends to influence ethical decision-making and judgment?

top management actions on ethics

Which airline failed to respond to a passenger's broken guitar?

united

What is social CRM?

use of social media services, techniques and technology to enable organizations to engage with their customers.

What percent of customers are more likely to consider a company involved in a worthwhile cause?

76%

Which of the following is not a stakeholder of a typical corporation?

Governments

What is the development of products designed to minimize negative effects on the environment called?

Green Marketing

What are the three (3) objectives of branding?

Identification; repeat sales; the introduction of new products

What is the first step of the Customer Relationship Management cycle?

Identify customer relationships

What is the goal of strategic planning?

Long-run profitability and growth

The idea that social and economic justification for an organization's existence is the satisfaction of the customer's wants and needs is called:

Marketing Concept

Which of the following is a major category of customers in business marketing?

Resellers

What is the difference between business products and customer products?

intended use