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Good marketing is not a random activity it is

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planned

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The four Ps of the marketing mix include

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promotion,product,place,price

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is what you get for what you give

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Value

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Marketers must determine the price of a product carefully, based on potential buyers' beliefs about

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Value

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The marketing goal of getting the "right quantities to the right locations, at the right time" relates to ___________________________________.

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Marketing Channel

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is communication by a marketer that informs, persuades, or reminds potential customers about a product.

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Promotion

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The goal of customer relationship management is to

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Build loyalty on value of customer

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Marketing enriches society by

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Involving the company in social activities

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The activity, set of institutions, and process for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is called

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Marketing

question

Which element of the marketing mix is most relevant to the activity "capturing value

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Price

question

Which element of the marketing mix is most relevant to the activity "creating value"?

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Product

question

If a firm wants to develop a sustainable competitive advantage, it should

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Focus on something others cant do

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What two elements of the SWOT Analysis are Internal

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Strength and weakness

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What two elements of the SWOT Analysis are External

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Opportunities and threats

question

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

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Market positioning

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The process of dividing the market into groups of customers with different needs, wants, or characteristics is called

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Market segmentation

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involves 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.

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market positioning

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The primary purpose of the __________ plan is to specify the marketing activities for a specific time

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marketing

question

What is the definition of Social Media

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websites and applications that enable users to create and share content

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Instagram is an example of what type of social media site

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media sharing

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YouTube is an example of what type of social media site

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video media sharing

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The three elements of the social media engagement process are?

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Assesment, implementation, get momentum

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Marketers rely on social media to achieve three objectives. What are those objectives

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Listen Analyze and Do

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Deceptive advertising and promotion of inferior products are examples of __________ ethical issues.

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marketing

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Refers to voluntary actions taken by a company to address the ethical impacts on business operations

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corporate social responsibility

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Stakeholders typically include the firm's ____________, __________, ____________, and members of the ____________ in which the firm operates.

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employees,suppliers,government, community

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The centerpiece of the marketing environment analysis framework is

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consumers

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A firm's immediate environment includes all of the following

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company,competition, consumers, corporate partners

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A firm's macroenvironment includes all of the following

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culture, economic, demographics, technology, political

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The shared meanings, beliefs, morals, values, and customs of a group of people constitute their

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culture

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Typical demographic data include all of the following

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age gender race religion

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Marketers often use principles and theories from sociology and psychology to better understand consumers' actions and to

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develop basic strategies for dealing with behaivor

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The consumer decision process model represents

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the steps consumers go through before, after, and during the buying process

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The consumer buying process begins when

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consumer recognizes need recognition

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Upscale men's and women's clothing stores like Nordstrom, Neiman Marcus, or Saks Fifth Avenue are more likely to appeal to consumers' __________ needs.

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physiological

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When mountain climbers purchase clothing for scaling Mount Everest, their purchases are primarily addressing __________ needs.

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functional

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Consumers consider universal, retrieval, and evoked sets during which stage of the consumer decision process?

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evaluation of alternatives

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Marketers particularly want their brands and products to be in consumers' __________ sets

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evoked

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Marketers are particularly interested in postpurchase behavior because it

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entails actual rather than potential consumers

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Marketers frequently design customer relationship management programs to

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retain loyal customers

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refer(s) to the process by which consumers select, organize, and interpret information to form a meaningful picture of the world

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perception

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The traditional marketing strategy of selling umbrellas when it is raining is an example of how __________ factors influence consumers' decisions.

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situational

question

What are five types of risks associated with purchase decisions

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performance /financial/ social/ psychological/ physiological

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The greater the difference between a consumer's unsatisfied need and the desired state, the greater the ________________________ will be.

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need recognition

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Brenda wants a new car that will be dependable transportation and look good. She wants to satisfy both ______________ and _______________ needs.

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functional and psycological

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Generally, people buy one product or service instead of another because they

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perceive it to be better value for them

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A key to successful marketing is determining how to meet the correct balance of __________ needs that best appeals to the firm's target markets.

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functional

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attributes are product or service features that are important to buyers and that are used to differentiate among choices.

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determinant

question

Business-to-business marketing involves buying and selling goods or services by ____________, ____________, and __________________.

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retailors, service producers, government

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Whether targeting consumers or resellers, marketers need to focus on

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creating value for their customers

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In most countries, __________ is(are) among the largest purchasers of goods and services.

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government

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Both the B2B and B2C buying processes begin with

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need recognition

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Compared to the B2C process, the information search and alternative evaluation steps in the B2B process are

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more formal and structured

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Most B2B buying situations can be categorized as _____________, __________, and _____________.

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new buy, straight rebuy, modified rebuy

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refers to the processes by which goods, services, capital, people, information, and ideas flow across national borders.

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globalization

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The components of global market assessment include

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government actions, infastructure and technology, economic analysis, socioculture analysis

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Global businesses often find it particularly difficult to understand the __________ of a country's culture

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values

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affects every aspect of consumers' purchase decisions.

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culture

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When entering a foreign market, the least risky strategy is

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exporting

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Of the five strategies for entering new markets, ____________________ creates the greatest potential risk.

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direct investment

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Many of the best-known American retailers, like Starbucks and McDonalds, have contractual agreements with another firm or individuals, allowing its businesses to operate overseas. These companies expanded globally using

answer

franchising

question

The most important consideration when a firm chooses a global product strategy should be

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needs of target market

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The first step in the STP process is to

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establish overall objectives

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Four frequently used targeting strategies are the _______________, _______________, ____________, and __________ targeting strategies.

answer

consumer, behavioral, contextual, segment

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For products like clothes pins, which provide the same benefit for all consumers, marketers should probably use a(n) ______________ strategy.

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undifferentiated targeting

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Adidas Group owns Reebok, Rockport, and TaylorMade brands. Adidas uses the different brands to pursue a(n) __________ strategy.

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differentiated

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Firms use a differentiated targeting strategy because

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target several segements with different offers

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is an extreme form of a targeting strategy.

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micromarketing

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segmentation is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach.

answer

demographic

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Beer marketers know that high school educated, working-class males from the ages of 25 to 40 make an attractive market for their products. This is a __________ segment of the beer market.

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demographic

question

Psychographics is the segmentation method that delves into how consumers

answer

describe themselves

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segmentation is the segmentation method most directly related to value creation for consumers.

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demographic

question

The phrase "birds of a feather flock together" captures the idea of __________ segmentation

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geodemographic

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Marketers often create a special marketing mix for loyalty segments because these segments are

answer

quite profiable

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When selecting a target market, firms will be most successful if they

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pick an audience

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involves defining the firm's marketing mix variables so that target customers have a clear, distinctive, and desirable understanding of the firm's offerings relative to competitors' offerings.

answer

positioning

question

A __________ is often used to illustrate the position of a firm's products or brands in consumers' minds.

answer

perceptual map

question

The ______________________ is defined as the unique value that a product or service provides to customers

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customer value

question

Marketing research includes all of the following; collecting data, ________________ data, _________________ data and _______________________ data.

answer

recording analyzing and interpreting

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Two types of data are ________________ data and _________________ data.

answer

primary and secondary

question

The marketing research process follows what five steps?

answer

defining research objectives, design research, data collection, analyzing data, action plan and implementation

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The first question a marketing researcher should ask before embarking on a research study is,

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will the research be useful

question

Just as marketers create value by meeting the needs and wants of consumers, marketing researchers create value if

answer

the results will be used in many management decisions

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Data collection begins

answer

only after completing the research design process

question

A marketing research project often begins with a review of the relevant __________ data.

answer

secondary

question

A major advantage of primary data collection is

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it can be tailored to meet specific research needs

question

A major disadvantage of primary data collection is

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time consuming

question

Social media monitoring, in-depth interviews, and focus groups are all __________ research methods.

answer

qualatative

question

A(n) __________ is a small group of people brought together for an intensive discussion of a topic

answer

focus group

question

Commercial research firms like Nielsen and J. D. Power and Associates are sources of ______________ data

answer

syndicated secondary

question

Company sales invoices, census data, and trade association statistics are examples of _______________ data

answer

secondary

question

What is meant by data mining?

answer

the use of a variety of statistical analysis tools to uncover previously unknown patterns

question

A disadvantage to using ___________ data is that they might not be precisely relevant to the information needed.

answer

secondary

question

Political consultants have been using marketing research for decades to help their candidates understand ______

answer

who makes up the voting public and how to reach them

question

Walmart is known for its efficient logistical systems. Every time consumers buy something, that purchase is recorded and sent to company headquarters, where it is used to generate reorders to vendors. In addition, customers' billions of purchases are analyzed to uncover patterns of consumers' purchasing behavior. This is an example of

answer

patterns of consumers purchasing behaivor

question

If a firm has demographic and purchasing information about its customers, the firm can use data mining techniques to

answer

build seperate marketing programs for different demographic segments

question

From charitable giving to medical records to Internet tracking, consumers are more anxious than ever about

answer

preserving their right to privacy

question

Benefit-cost analysis in marketing research weighs

answer

the benefits of answering questions against the cost of the research

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