Home Page Social Science Psychology Media Psychology Attracting New Customers Ex. Bus. - Flashcards

Ex. Bus. – Flashcards

Elizabeth Mcdonald

8 July 2022

question

The chance of loss associated with marketing decisions.

answer

: Risk

question

A service that allows users to "like" a company's profile and thereby interact and build a relationship with the firm

answer

: Facebook

question

A factor that has sparked the rise of consumer-generated information is

answer

: the consumers' tendency to trust other consumers over corporations.

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A process by which a person selects, organize, and interprets information received from his or her senses.

answer

: Perception

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If a company develops an advertising campaign exclusively for a segment of consumers with a certain income and education, then the company uses

answer

: Demographic segmentation

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The form of communication that attempts to facilitate a marketing exchange by influencing people, groups, or organizations is known as

answer

: Promotion

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The first step in developing a marketing strategy is

answer

: selecting a target market

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Convenience products such as bread, milk, and chewing gum would probably be marketed

answer

: intensively

question

If a product is experiencing negative profits and the company is spending a great deal of money on advertising to make consumers aware of the product, then the product is most likely in the

answer

: introduction stage of the product life cycle

question

The most flexible variable in the marketing mix is

answer

: Price

question

Venn Networks recently unveiled its new smartphone at a press conference. There was a news release about the new smartphone and all the members of the company's top management interacted with the media during this conference. Venn Networks is using the promotional strategy of

answer

: publicity

question

An important variable--often the central focus--of the marketing mix, based on which the other variables are adjusted

answer

: Product

question

Products such as furniture, audio equipment, bicycles, and clothing are generally classified as

answer

: shopping products

question

One of the most popular photo sharing sites on the internet which enables the user to upload images, edit them, classify the images, create photo albums, and share photos with friends

answer

: Flickr

question

A gallon of milk is an example of a

answer

: convenience product

question

When a company sets a low price for a new product to discourage competition from entering the market, it is using the

answer

: penetration pricing strategy

question

A customer's subjective assessment of benefits relative to costs in determining the worth of a product is known as

answer

: value

question

Encourages consumers to make purchases based on emotion, rather than rational considerations about the price

answer

: Psychological pricing

question

When Viera, an automobile company, pays a television network to air its commercial, it is using

answer

: advertising

question

Effective promotional positioning uses promotion to

answer

: create and maintain an image of a product in buyers' minds

question

One challenge that digital media has created for businesses is

answer

: employees wasting time during the internet

question

A web-based getting place for friends, family, co-workers, and peers that lets users create a profile and connect with other users for a wide range of purposes

answer

: social network

question

Marketers' ability to process orders electronically and increase the speed of communications thereby reducing costs, inefficiencies, and redundancies most relates to the

answer

: distribution of marketing mix

question

The goal of the marketing concept

answer

: consumer satisfaction

question

Which of the following requires organizations to gather information about customer needs, share that information throughout the firm, and use it to help build long-term relationships with customers?

answer

: Market orientation

question

True statement about digital media is

answer

: They do not relieve businesses of the task of achieving the right marketing mix

question

If a nationwide sandwich shop introduces a new sandwich in the midwest to try out its marketing strategy before offering the product across the country, it is in the

answer

: test marketing stage of the product development process

question

Primary focus of a business that adopts a market orientation

answer

: Building long-term relationships with customers

question

Many social networking sites today provide users with the ability to

answer

: download applications

question

Private distributor brands

answer

: are owned and controlled by a wholesaler or retailer

question

A company develops one marketing strategy for a single market segment

answer

: concentration approach

question

Best described as a group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services, and ideas

answer

: Marketing

question

If a company buys televisions from a manufacturer and then sells them to department stores, it is probably a

answer

: wholesaler

question

Taken place when a customer at a bakery hands a cashier $5 for a loaf of bread

answer

: Exchange

question

True statement about digital communication

answer

: It has made it possible for businesses to reach previously inaccessible markets

question

Inventory control, transportation, and warehousing are all examples of activities of

answer

: physical distribution

question

In the context of the evolution of the marketing concept, the era of production orientation was characterized by

answer

: The development of new technologies that made it possible to manufacture goods with ever increasing efficiency

question

Kemmen Foods Inc., a company that manufactures and sells breakfast cereals, has customized its cereal flavors to suit different lifestyles, personal tastes, and age groups. For example, it makes organic cereals for its health-conscious customers, and it makes colorful cereals with cartoon characters for children. Common Foods Inc. is using

answer

: Multisegment approach

question

Tend to allow businesses to be more promotional than reactive because they do not permit companies to respond to or interact with customers

answer

: Media sharing sites

question

True Pharmaceuticals Inc. manufactures and sells a variety of drugs for a large market consisting of people of different genders, ages, educational backgrounds, lifestyles, geographic locations, and income levels. It assumes that all buyers have similar medical needs and wants. True Pharmaceuticals Inc. is best demonstrating a

answer

: total-market approach

question

Websites where users can add to or edit the content of posted articles

answer

: Wikis

question

Distribution channel that would most likely be used for fruits and vegetables sold at a roadside stand or farmer's markets is

answer

: Producer to consumer

question

Selective distribution

answer

: uses only a small proportion of all available outlets to expose products

question

Gear Power Inc. an automobile company, manufactures different cars for different market segments. It markets SUVs for customers who live in the mountains sedans for customers in the coastal plains, and smaller hatchback cars for those in big cities. Gear Power Inc. is primarily using

answer

: geographic variable

question

The only business function that is directly responsible for creating sales and revenue.

answer

: Marketing

question

As services are generally produced and consumed simultaneously, they are usually distributed through

answer

: direct marketing channels`

question

The most popular mobile photo sharing application which allows users to make their photos look dreamy or retrospective with different tints and then share them with friends

answer

: Instagram

question

Prism Phones Inc. is targeting college students and young professionals. The company has therefore decided to advertise its cell phones over social networking and other popular websites. Relative to television advertising, this strategy will help Prism Phones save costs, allowing the firm to sell its phones at a more competitive price. Prism Phones' decision to advertise via different vehicles than other firms illustrates the

answer

: Promotion activity

question

Best for promoting expensive products with specialized uses, such as houses.

answer

: Personal selling

question

Not one of the four marketing activities of the marketing mix

answer

: Profit

question

Not one of the four marketing activities of the marketing mix

answer

: Profit

1 of

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question

The chance of loss associated with marketing decisions.

answer

: Risk

question

A service that allows users to "like" a company's profile and thereby interact and build a relationship with the firm

answer

: Facebook

question

A factor that has sparked the rise of consumer-generated information is

answer

: the consumers' tendency to trust other consumers over corporations.

question

A process by which a person selects, organize, and interprets information received from his or her senses.

answer

: Perception

question

If a company develops an advertising campaign exclusively for a segment of consumers with a certain income and education, then the company uses

answer

: Demographic segmentation

question

The form of communication that attempts to facilitate a marketing exchange by influencing people, groups, or organizations is known as

answer

: Promotion

question

The first step in developing a marketing strategy is

answer

: selecting a target market

question

Convenience products such as bread, milk, and chewing gum would probably be marketed

answer

: intensively

question

If a product is experiencing negative profits and the company is spending a great deal of money on advertising to make consumers aware of the product, then the product is most likely in the

answer

: introduction stage of the product life cycle

question

The most flexible variable in the marketing mix is

answer

: Price

question

answer

: publicity

question

An important variable--often the central focus--of the marketing mix, based on which the other variables are adjusted

answer

: Product

question

Products such as furniture, audio equipment, bicycles, and clothing are generally classified as

answer

: shopping products

question

One of the most popular photo sharing sites on the internet which enables the user to upload images, edit them, classify the images, create photo albums, and share photos with friends

answer

: Flickr

question

A gallon of milk is an example of a

answer

: convenience product

question

When a company sets a low price for a new product to discourage competition from entering the market, it is using the

answer

: penetration pricing strategy

question

A customer's subjective assessment of benefits relative to costs in determining the worth of a product is known as

answer

: value

question

Encourages consumers to make purchases based on emotion, rather than rational considerations about the price

answer

: Psychological pricing

question

When Viera, an automobile company, pays a television network to air its commercial, it is using

answer

: advertising

question

Effective promotional positioning uses promotion to

answer

: create and maintain an image of a product in buyers' minds

question

One challenge that digital media has created for businesses is

answer

: employees wasting time during the internet

question

A web-based getting place for friends, family, co-workers, and peers that lets users create a profile and connect with other users for a wide range of purposes

answer

: social network

question

Marketers' ability to process orders electronically and increase the speed of communications thereby reducing costs, inefficiencies, and redundancies most relates to the

answer

: distribution of marketing mix

question

The goal of the marketing concept

answer

: consumer satisfaction

question

Which of the following requires organizations to gather information about customer needs, share that information throughout the firm, and use it to help build long-term relationships with customers?

answer

: Market orientation

question

True statement about digital media is

answer

: They do not relieve businesses of the task of achieving the right marketing mix

question

If a nationwide sandwich shop introduces a new sandwich in the midwest to try out its marketing strategy before offering the product across the country, it is in the

answer

: test marketing stage of the product development process

question

Primary focus of a business that adopts a market orientation

answer

: Building long-term relationships with customers

question

Many social networking sites today provide users with the ability to

answer

: download applications

question

Private distributor brands

answer

: are owned and controlled by a wholesaler or retailer

question

A company develops one marketing strategy for a single market segment

answer

: concentration approach

question

Best described as a group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services, and ideas

answer

: Marketing

question

If a company buys televisions from a manufacturer and then sells them to department stores, it is probably a

answer

: wholesaler

question

Taken place when a customer at a bakery hands a cashier $5 for a loaf of bread

answer

: Exchange

question

True statement about digital communication

answer

: It has made it possible for businesses to reach previously inaccessible markets

question

Inventory control, transportation, and warehousing are all examples of activities of

answer

: physical distribution

question

In the context of the evolution of the marketing concept, the era of production orientation was characterized by

answer

: The development of new technologies that made it possible to manufacture goods with ever increasing efficiency

question

answer

: Multisegment approach

question

Tend to allow businesses to be more promotional than reactive because they do not permit companies to respond to or interact with customers

answer

: Media sharing sites

question

answer

: total-market approach

question

Websites where users can add to or edit the content of posted articles

answer

: Wikis

question

Distribution channel that would most likely be used for fruits and vegetables sold at a roadside stand or farmer's markets is

answer

: Producer to consumer

question

Selective distribution

answer

: uses only a small proportion of all available outlets to expose products

question

answer

: geographic variable

question

The only business function that is directly responsible for creating sales and revenue.

answer

: Marketing

question

As services are generally produced and consumed simultaneously, they are usually distributed through

answer

: direct marketing channels`

question

The most popular mobile photo sharing application which allows users to make their photos look dreamy or retrospective with different tints and then share them with friends

answer

: Instagram

question

answer

: Promotion activity

question

Best for promoting expensive products with specialized uses, such as houses.

answer

: Personal selling

question

Not one of the four marketing activities of the marketing mix

answer

: Profit

question

Not one of the four marketing activities of the marketing mix

answer

: Profit

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