Chpter 1 – Flashcard

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customer relationship management
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________ involves systematically tracking consumers’ preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual’s unique wants and needs
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sustainability
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A company that focuses on ________ is concerned with meeting present consumer needs without compromising the ability of future generations to meet their needs.
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social marketing concept
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The _______ maintains that marketers must satisfy customers’ needs in ways that also benefit society and are profitable to the firm.
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production
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A firm that focuses on a ________ orientation is likely to view the market as a homogeneous group that will be satisfied with the basic function of a product.
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marketing planning
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________ is the process of thinking strategically about the big picture and where the firm and its products fit within it.
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place
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Conveniently located vending machines around your college or university campus make it easy for you to buy a soda and a snack between classes. This is an example of the ________ element of the marketing mix.
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anticonsumption
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Product tampering and spray-painting graffiti on buildings are both examples of ________.
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demand
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A customer’s desire for a product coupled with the buying power or resources to obtain that product is called a ________.
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green marketing
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Which of the following refers to marketing strategies that support environmental stewardship by establishing an environmentally founded differential benefit in the minds of consumers?
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market segment
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An organic farmer has identified three distinct groups who might be interested in his products: vegetarians, people who are concerned about chemicals in their foods, and people who consider themselves innovators and trendsetters. These three groups are examples of ________.
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Form
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________ utility is the benefit marketing provides by transforming raw materials into finished products, as when a dress manufacturer combines silk, thread, and a zipper to create a bridesmaid’s gown.
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want
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A ________ is a desire for a particular product a consumer uses to satisfy a need in a specific way that is culturally and socially influenced.
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target market
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A catalog retailer has identified African-American professionals between the ages of thirty-five and forty-five as the group of customers within the larger market that is a potential market for its products. The retailer plans to direct its marketing efforts toward this group of consumers. The retailer has identified a ________.
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selling orientation
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Jolene’s firm markets preplanning services for a mortician. She finds that most of her target market wants to avoid discussing future funeral needs, so she must somehow first get their attention. Jolene’s firm most likely uses the ________.
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consumer goods
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________ are the tangible products that individuals purchase for personal or family use
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return on investment
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The direct financial impact of a firm’s expenditure on marketing activities is called the ________.
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distinctive competence
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A firm’s capability that is superior to that of its competition is referred to as a(n) ________.
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market position
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A _______________ refers to how the target market perceives a product in relation to competitors’ products
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marketing concept
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Marketers first identify consumer needs and then provide products that satisfy those needs. This practice is referred to as the________.
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stakeholders
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Buyers, sellers, investors, and community residents are all considered ________ in a company.
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Business to business
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________ marketing is the marketing of goods and services from one organization to another
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Marketing
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________ is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
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lefetimevalue
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To calculate ____________, a company would estimate the amount of money a person would spend with the company over a lifetime and then subtract what it will cost the company to maintain this relationship.
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Shrinkage
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____________ is the industry term for inventory and cash losses from shoplifting and employee theft.
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consumer
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A(n) ________ is the ultimate user of a good or service
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benefit
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A ________ is the outcome that motivates a customer’s buying behavior.
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share of mind
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The Internet has created a paradigm shift for businesses, moving us toward an attention economy in which a company’s success will be measured by its ________.
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value chain
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A ________ is a series of activities involved in designing, producing, marketing, delivering, and supporting any product.
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time
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Women who rent their wedding gowns instead of buying them and wearing them only once are taking advantage of a ________ utility.
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selling
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Companies that have a ________ orientation tend to be more successful at making one-time sales than at building repeat business.
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valueproposition
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A _____________ includes the whole bundle of benefits the firm promises to deliver, not just the benefits of the product itself
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consumer grenerated value
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The phenomenon of ________ includes consumers creating their own ads and buying and selling products on eBay.
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market
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To be part of the ________ for a product, consumers must share a common need that can be satisfied by the product and have the resources, willingness, and authority to purchase the product
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market position
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When comparing itself to its competitors, Hidden Valley describes its Ranch dressing as the original. This is the ________ the manufacturer has selected for the product
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differencial benefit
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A ________ provides reasons for customers to pay a premium for a firm’s products and exhibit a strong brand preference.
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mass market
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A ________ consists of all possible customers in a market regardless of the differences in their specific needs and wants.
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marketplace
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A glitzy shopping mall, a mail-order catalog, a television shopping network, and an e-commerce Web site are all examples of ________.
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value
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________ refers to the benefits a customer receives from purchasing a good or service
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service
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Alex paid for a(n) ________ when he took his car to the carwash to be washed and waxed.
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need
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When a gap exists between a consumer’s actual state and some ideal or desired state, the consumer has a ________.

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