chapter 11 (unit 6) – Flashcards
Unlock all answers in this set
Unlock answersquestion
The elements of the marketing mix are
answer
product, price, distribution, and promotion
question
Refer to Caroline's Crafts 'N Things. When Sarah was brought into her boss's office, what was her manager trying to explain?
answer
Customer lifetime value
question
Refer to Your Best, Inc. If Christie were to use information services available online, they would offer her access to which of the following?
answer
Databases
question
Ikea furniture store promotes its furniture to its target market based on its customers' personality attributes and lifestyles. Therefore, it is segmenting the furniture market on which type of basis?
answer
Psychographic
question
General Mills is setting up a marketing information system to keep track of marketing trends. External sources of marketing data include which of the following
answer
competitors' activities, raw material suppliers, forecasts about general economic conditions, customers
question
Markets are classified as either
answer
consumer or business-to-business
question
Refer to Caroline's Crafts 'N Things. Doing business on eBay allows an entrepreneur to...
answer
create place utility
question
When KFC Corporation decides on brand names, package designs, sizes of orders, and flavors of sauces and recipes, it is controlling which element of marketing mix?
answer
Product
question
General Foods Corporation uses data such as sales figures, product and marketing costs, inventory levels, and activities of its sales force to make marketing decisions. The firm is using ____ data.
answer
Internal
question
Topps, a company that produces baseball cards, develops its products to appeal primarily to males who are baseball fans. This group is Topps'
answer
Target Market
question
When a company collects external marketing data, it looks at information about
answer
its customers
question
The marketing activités associated with time, place, and possession utility account for about ____ of every consumer dollar spent.
answer
one-half
question
Turner Broadcasting Systems uses internal Web pages that all employees can access in order to share information and improve communication. This is a(n)
answer
intranet
question
An approach to marketing that involves the entire business organization in the process of satisfying customers' needs while achieving the organization's goals is called
answer
The Marketing Concept
question
A Corvette, a dinner at the Olive Garden, and an overnight stay at a Hilton Hotel all satisfy human needs. Therefore, each
answer
possesses utility.
question
In determining whether to manufacture and market a line of luxury automobiles, Ford Motor Company studies the effects of economic conditions on consumers' ability and willingness to buy. The company is assessing ___ forces.
answer
Economic
question
The amount of a product an organization expects to sell during a certain period of time, based on a specified level of marketing effort, is called a
answer
Sales Forecast.
question
Buying behavior is divided into two categories including
answer
Consumer and Business.
question
IRI, a marketing research firm, has been contracted by T-Fal to evaluate the market performance of a new line of cookware. What are the steps in IRI's research process?
answer
Interpreting the research data, Designing the research project, Reaching a conclusion, Collecting data
question
Furs Unlimited is using a combination of advertising and personal selling to increase the sales of its fur coats. This activity involves the ____ ingredient of the marketing mix.
answer
Promotion
question
Steve Berry recently purchased a new boat. This type of purchase would be made using Steve's ____ income.
answer
Discretionary
question
When John returned a shirt he had purchased at JCPenney for a refund, he essentially reversed the effect of which type of utility?
answer
Possession
question
In creating a marketing information system, management would collect data from internal sources such as
answer
its sales figures
question
The product Centrum Silver is positioned as a vitamin supplement for older adults. The makers of Centrum Silver have segmented the vitamin market on a ____ basis.
answer
Demographic
question
Burlington Coat Factory manufactures its winter jackets in April but does not display them in its stores until early September. Burlington recognizes the importance of ___ utility.
answer
Time
question
A group of persons for whom a firm develops and maintains a marketing mix suitable for the group's specific needs and preferences is commonly referred to as a target
answer
Market
question
Erica goes to a drugstore and purchases toothpaste. What type of purchase process did Erica most likely use?
answer
Routine Response Behavior
question
During the 1950s, the marketing concept began to develop as business managers recognized that they were not primarily producers or sellers but rather were in the business of
answer
Satisfying Customers' Needs
question
In the 1920s, producers had to shift to a new sales orientation, which was characterized by the following:
answer
Taking orders and delivering goods, Using occasional high-pressure selling techniques, Enlarging the sales force, Increasing advertising
question
The utility created by transferring ownership of a product to a buyer is called ____ utility.
answer
Possession
question
By selling Christmas trees from late November through December, Home Improvement is providing ____ utility.
answer
Time
question
Internal and external data should be collected for a marketing information system
answer
continually
question
What are the steps of the consumer buying decision process
answer
Acknowledge that a problem exists, Look for information, Evaluate alternatives, Evaluate after the purchase
question
Betty and Carole recently opened a local candy store. They considered the entire market of candy eaters as their market. Which targeting strategy did they use in choosing a target market for their store?
answer
Undifferentiated Approach
question
The Bitty Baby Store wants to update its way of doing business from the methods of the sales era to the more current methods of the marketing concept. What are the steps in the right direction?
answer
Attempting to obtain more information from present customers, Creating cross-departmental teams to generate more new-product ideas, Modifying pricing structures to increase sales, Finding new distribution methods that improve delivery times
question
A plan that will enable an organization to make the best use of its resources to meet its objectives is called a
answer
A Marketing Strategy
question
____ utility is the only type of utility created by the production process.
answer
Form
question
The elements of the marketing mix are combined to
answer
Satisfy the target market
question
A plan that will enable an organization to make the best use of its resources to meet its objectives is called a
answer
marketing strategy
question
A computer based system for continually gathering internal and external info is called
answer
a marketing info system
question
Refer to Your Best, Inc. Christie thought about focusing on the four elements of the marketing mix. Which of the following is one of those elements?
answer
price
question
What focuses on using info about customers to create marketing strategies that develop and sustain desirable customer relationships?
answer
customer relationship management
question
Car manufacturers tend to use the ___ approach in choosing their target market.
answer
differentiated
question
A market segment toward which a company directs its marketing effort is called a
answer
target market
question
What are the four commonly recognized forms of utility?
answer
time, place, possession, form
question
When Pepsi decides to develop a new product, it creates the product itself, determines the price the new product will sell for, decides how to distribute the product to consumers, and develops a promotion campaign to inform the market of the new product. Pepsi has created a(n)
answer
marketing mix
question
When Target decides the number and locations of warehouses it needs to build and operate, it is addressing the ____ element of the marketing mix.
answer
distribution
question
The effects of economic conditions on consumers' ability and willingness to buy would best be called ___ forces.
answer
economic
question
Club Med inc. talks to it present and potential customers to assess their needs for its products. Then it develops products to satisfy those needs. The firm is thus applying the ___ concept.
answer
marketing
question
General Motors uses multiple marketing mixes for its various divisions and focuses these marketing mixes on various segments of the automobile-purchasing market. General Motors uses
answer
differentiated market segmentation
question
Southside Distributors in Los Angeles distributes beverages for a major corporation in Kansas City. It is specifically a part of a(n) ___ market.
answer
reseller
question
Hershey Chocolate Company is making an estimate of the amount of candy it expects to sell during the Christmas season based on a specified level of marketing effort. The method Hershey uses for forecasting sales includes all of the following:
answer
executive judgments, surveys of buyers or sales personnel, time-series analyses, correlation analyses
question
The process of systematically gathering, recording, and analyzing data concerning a particular marketing problem is called
answer
marketing research
question
Joseph Kuhn was trained as an engineer, but recently he has been assigned the marketing responsibility for his company. In his role as a marketer, he wants to know what marketing can and cannot control. You indicate that marketing cannot control:
answer
consumers' social values
question
Emerson, an electronics manufacturer, purchases the wires it needs to make televisions and stereos from various wire manufacturers. Emerson is a part of which type of market?
answer
producer
