question

Two baseball leagues in the city, where Mac and Zach plan to open their sports academy, agreed to allow them to distribute an e-mail survey to their league players. In order to capture this opportunity, Mac quickly put together a set of 15 questions that inquire about the type of skills (batting, pitching, fielding, running) that league players want to develop. The survey and subsequent information this research would glean is called ________________ data.

answer

primary

question

Which of the following would be considered when discussing the marketing mix variables?

answer

Setting a price for the product.

question

target market

answer

As Mac and Zach explore the possibility of starting a youth sports academy, they collect demographic and lifestyle information about the families who would potentially buy their service. This exercise will help to better identify their ________.

question

sociocultural

answer

The increase in the number of older Americans has created a growing demand for nursing homes, health care, continuing education and more. This is as a result of the changes in the ____________ factors in the environment.

question

a computer for the instructor to use while teaching the class

answer

Which of the following products would be considered as part of the business-to-business market?

question

Find out what young baseball players want to achieve and what's important to them.

answer

Mac and Zach want to start their own youth sports academy aiming to teach baseball skills to young boys. Which of the following steps in the marketing process is a good place to begin?

question

. sociocultural

answer

Recently, Mac and Zach's Youth Sports Academy has had several inquiries about girls' softball. While scanning the ____________ environment in their service area, they become aware of the growing importance of girls' sports, and particularly girls' softball. Girls' softball received a boost in their local market when the high school team won the state championship. Mac and Zach are seriously considering expanding their operation to include softball skill lessons for young girls

question

marketing mix

answer

Once Mac and Zach have a better understanding of the kinds of baseball skills that local youth want to acquire, they can begin to prepare the ________________.

question

helping buyers buy

answer

Marketing is as much about helping sellers sell products and services, as it is about __________.

question

differ from consumer marketing strategies because the nature of the buyers is different.

answer

Marketing strategies for the business-to-business market:

question

Up until now, Mac and Zach's Youth Sports Academy has served the ____________ market. Just recently, the local high school contacted them inquiring about practice space for boys' baseball and girls' softball during bad weather. If they negotiate a contract with the high school, they will also be serving the ___________ market.

answer

consumer; B2B

question

When Sun-2-Shade needed some information about the potential market for their product, the marketing team looked to the Internet to find industry trends, and at the market for eyewear products, which uses the same technology that is used in their self-darkening windshield. The type of information the marketing team was using is referred to as:

answer

secondary data.

question

When Maritza Toros opened her Mexican restaurant in a fashionable suburb of Kansas City, she believed that the most important element of her success would be promotion. She made sure that a significant portion of her budget was devoted to advertising in local papers, sent out coupons and really focused on the promotional aspects of the restaurant. Which of the four eras of marketing does it seem that Maritza emphasized? a) Marketing b) Production c) Customer relationship management d) Selling

answer

d

question

Through environmental scanning, marketers can learn new ways to reach prospective customers. As they scan the _____________ environment, Mac and Zach hope to buy the most state-of-the-art mechanical pitching arms for their youth sports academy.

answer

technological

question

When McDonald's considered adding pizza to their menu, the company made pizza available in some of their more established markets, to determine customer reactions. That process is called: a) concept coordination. b) outsourcing. c) test marketing. d) promotion.

answer

c

question

Market segmentation is about dividing the total market for a product or service into groups with similar characteristics and needs. Marketers often divide the total market for their products and services demographically, either by age, education, or income level. If they wanted to know if all 18-year-olds in their market had similar TV show and movie interests, their inquiry would also focus on _____________ segmentation. a)psychographic b) geographic c) volume d) benefit

answer

a

question

After one year of operation, Mac and Zach learned that several enthusiastic baseball players were driving to a larger town to receive similar services. In order to learn about the potential customers who were going elsewhere for service, Mac and Zach proceeded to look online to determine how competitors' services differed from theirs. They learned that competitors were open longer hours on weekends, and even had celebrity endorsements. The new information they gathered, and its interpretation was the _______________ part of the marketing research process. a) data gathering b) analysis c) creation of the research questions d) venture finding

answer

b

question

What is the first step in the marketing research process? a) Analyzing data b) Develop and establishing potential solutions c) Defining the problem d) Collecting data

answer

c

question

Lauren is heading home from work and realizes she forgot to buy cat food during her lunch hour. As she navigates the traffic, she tries to decide where it will be most convenient to stop. She could go to the large discount store, which would give her the best price, but the lines are usually long after work. There are a couple of convenience stores on her route, but she isn't certain they will have her cat's brand. The grocery store is no better than the discount store after work. She settles on one of the drug store chains that also has just about everything. It is larger than the convenience stores, but never as crowded as the grocery store or discount store. In terms of consumer behavior, _____________ influences have guided Lauren's decision. a) situational b) cognitive dissonance c) radical d) reference group

answer

a

question

Focusing on long-term customer loyalty is called ____________. a) customer relationship management b) customer linkage marketing c) customer care processes d) promotional marketing

answer

a

question

tend to be more rational in their decision making than individual consumers

answer

Business-to-business (B2B) customers _________________.

question

determine the type of information (the question) they are seeking to solve.

answer

Marketers constantly require good information if they are to meet or exceed their customers' expectations. When performing marketing research, Mac and Zach's first step is to:

question

a mutually beneficial exchange between buyers and sellers, where buyers receive quality products and good service, and sellers realize a profit

answer

The idea behind the marketing concept is ___________.

question

organizations that are in the middle of a series of organizations that distribute goods from producers to consumers.

answer

Intermediaries are:

question

mass marketing.

answer

At one time, companies developed products and promotions to please large groups of people, and tried to sell as many products to as many people as possible. This is known as:

question

The activity, set of institutions and processes for creating, communicating, delivering, and exchanging offerings with value for customers, clients, partners, and society at large.

answer

Marketing

question

Finding out what customers want and then providing it

answer

Customer Orientation

question

Making sure everyone in an organization is committed to customer satisfaction.

answer

Service Orientation

question

Focusing on the goods and services that will earn the most profit

answer

Profit Orientation

question

Learning as much as you can about customers and doing what you can to satisfy or exceed their expectations.

answer

Customer Relationship Management (CRM)

question

A good, service, or idea that satisfies a consumer's want or need.

answer

Product

question

Testing product concepts among potential product users

answer

Test Marketing

question

A word, letter, or a group of words or letters that differentiates one seller's goods from a competitor's.

answer

Brand Name

question

All the techniques sellers use to inform people about their products and motivate them to purchase those products.

answer

Promotion

question

Making it easier for the buyer to make a quick decision

answer

What does it mean to "help the buyer buy?

question

Customer Orientation Service Orientation Profit Orientation

answer

What are the three parts of the marketing concept?

question

Product Price Place Promotion

answer

What are the Four P's of the Marketing Mix?

question

Analyzing markets to determine challenges and opportunities, and finding the information needed to make good decisions.

answer

Marketing Research

question

Existing data that has previously been collected by sources like the government.

answer

Secondary Data

question

In-depth information gathered by marketers from their own research.

answer

Primary Data

question

A group of people who meet under the direction of a discussion leader to communicate opinions.

answer

Focus Group

question

The process of identifying factors that affect marketing success.

answer

Environmental Scanning

question

All the individuals or households that want goods and services for personal use and have the resources to buy them

answer

Consumer Market

question

Individuals and organizations that buy goods and services to use in production or to sell, rent, or supply to others.

answer

Business-to-Business (B2B)

question

Define the question and determine the present situation , Collecting data, analyzing that data, finding the best solution and implementing it

answer

What are the four steps in the marketing research process?

question

Identifying factors that can affect the market success

answer

What's environmental scanning?

question

Global, tech, sociocultural, competitive, economic influence

answer

What factors are included in environmental scanning?

question

Divides the total market into groups with similar characteristics

answer

Market Segmentation

question

Selecting which segments an organization can serve profitably.

answer

Target Marketing

question

Dividing the market by cities, counties, states, or regions.

answer

Geographic Segmentation

question

Dividing the market by age, income, education, and other demographic variables.

answer

Demographic Segmentation

question

Dividing the market by group values, attitudes, and interests.

answer

Psychographic Segmentation

question

Dividing the market according to product benefits the customer prefers

answer

Benefit Segmentation

question

Dividing the market by the volume of product use.

answer

Volume (Usage) Segmentation

question

Identifies small but profitable market segments and designs or finds products for them.

answer

Niche Marketing

question

Developing a unique mix of goods and services for each individual consumer.

answer

One-to-One Marketing

question

Developing products and promotions to please large groups of people.

answer

Mass Marketing

question

Rejects the idea of mass production and focuses toward custom-made goods and services for customers.

answer

Relationship Marketing

question

Buying a product for industrial use

answer

Define the terms business-to-business market

question

Buying a product for personal use

answer

consumer market

question

Geographic Segmentation Demographic Segmentation Psychographic Segmentation Benefit Segmentation Volume (Usage) Segmentation

answer

Name and describe five ways to segment the consumer market.

question

It identifies small but profitable market segments and designs/finds products for them. One-to-one marketing has a unique mix of something for everyone What are the four key factors that

answer

What is niche marketing and how does it differ from one-to-one marketing

question

B2B are a smaller market so to speak compared to 80 million people, they are rational/less emotional buyers, personal selling, and usually geographically concentrated

answer

What are four key factors that make B2B markets different from consumer markets?

GEB Chapter 13, BUS 110 Chapter 13 – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards