question

one of the challenges of ____ is that prospective customers may not always know or be able to describe what they need and want, yet this is the tool commonly used for this purpose

answer

marketing research

question

to effectively segment a marker, you should ensure that the segments are relatively _______, at least in terms of prospective buyers needs and response to marketing

answer

homogeneous

question

for which of the following reasons is marketing considered beneficial?

answer

marketing creates utility for customers AND marketing can improve global competition

question

one of the core aspects of marketing, burrowed from economics, includes a _______ which is a transaction in which things of value are traded between the buyer and seller

answer

exchange

question

in the context of customer value, which of the following are considered benefits

answer

after-sale service AND convenience AND quality

question

customer _____ reflects the relationship of benefits to price, or what you get for what you give

answer

value

question

the idea that a company should attempt to satisfy its customers needs while at the same time try to achieve its own objectives is known as

answer

the marketing concept

question

to serve both buyers and sellers, marketing, broadly speaking, seeks to do which two of the following?

answer

satisfy the needs and wants of customers AND discover the needs and wants of prospective customers

question

customer _____ is the unique combination of benefits received by targeted buyers at a specific price

answer

value

question

a ___ is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers

answer

marketing program

question

people who use the goods and services purchased for a household are known as

answer

ultimate consumers

question

which two of the following are true of environmental forces

answer

social and economic forces are examples AND they are largely beyond the control of the marketer

question

____ marketing links the organization to its customer, employees, suppliers, and other partners for mutual long-term benefits

answer

relationship

question

marketing typically impacts which of the following groups in society?

answer

customers AND owners AND suppliers

question

marketing attempts to satisfy consumer needs but clearly also shapes a persons _____ because it may impact knowledge or even culture

answer

wants

question

when a consumer gives money or something else of value for something her or she values, a marketer would describe this as a ___

answer

exchange

question

when a firm has transcended a production or selling orientation, and attempts to discover and satisfy its customers needs and wants, the firm is ___

answer

market-oriented

question

___ consumers, in contract with organization buyers, are the people who use products and services purchased for a household

answer

ultimate

question

in addition to focusing on its financial profit responsibility, organization are increasingly focusing on which of the following?

answer

ethics AND social responsibility

question

a ___ market is a specific group of potential customers towards which an organization directs its marketing program

answer

target

question

by their very nature, ___ act externally to sometimes expand an organizations marketing opportunities and at other times restrict them

answer

environmental forces

question

customer value is the unique combination of benefits received by targeted buyers ___

answer

at a specific price

question

the societal marketing concept combines which two of the following principles?

answer

organizations should serve customers in a way that provides for societys well-being AND organizations should satisfy the needs of consumers

question

___ marketing connects the organization to its individual customers beginning before and continuing after the sale

answer

relationship

question

___ is one of the elements of the four p's that embodies all activities essential to get the product to the right customer when and where that customer wants it

answer

place

question

ultimate consumers

answer

use goods and services purchased for a household

question

___ part of the marketing mix that communicates the values of the product to the consumers in many ways, such as advertising, social media, and public relations

answer

promotion

question

the unique combination of benefits received by targets buyers at a specific price is known as

answer

customer value

question

in the context of customer value, which of the following are considered benefits

answer

convenience AND after-sale service AND quality

question

___ is the component of the marketing mix that provides a means of communication between a seller and a buyer

answer

promotion

question

which of the following might be given or received in an exchange when marketing occurs

answer

satisfaction AND money AND intangible services AND information

question

the hallmark of developing and maintaining effective customer relationships is called ___ marketing

answer

relationship

question

the essence of successful marketing is that firms provide unique value in order to gain

answer

loyal customers

question

marketings relationships with alliances in the supply chain, customers, and society at large would best be characterized as

answer

two-way interactions

question

people who use the goods and services purchased for a household are known as

answer

ultimate consumers

question

the marketing program __ the marketing mix elements to provide a good, service, or idea to prospective buyers

answer

integrates

question

when manufacturers, wholesalers, retailers, and government agencies purchase goods and services they are known as

answer

organizational buyers

question

in order for marketing to occur, both parties involved must have which two of the following regarding their needs

answer

the desire to satisfy a need AND the ability to satisfy a need

question

when a consumer gives money or something else of value for something he or she values, a marketer would describe this as a ___

answer

exchange

question

marketing typically impacts which of the following groups in a society

answer

customers AND suppliers AND owners

question

___ consumers, in contrast with organizational buyers, are the people who use products and services purchased for a household

answer

ultimate

question

the internal response that customers have to all aspects of an organization and its offerings is known as the __

answer

customer experience

question

after a consumer makes a purchase in the grocery store, the firm is better off because it has more money in the register and the consumer is better off because he has more food in his pantry. This is an example of which of the core aspects of marketing, as discussed in the chapter?`

answer

marketing entails exchange between buyer and seller

question

of the 4 p's ___ is whatever the buyer gives up in exchange for the product, like money, time, or energy

answer

price

question

customer value is the unique combination of benefits received by targeted buyers

answer

at a specific price

question

for marketing to occur, there must be two or more parties with

answer

unsatisfied needs

question

CRM stands for

answer

customer relationship management

question

which two of the following are characteristics of the marketing concept

answer

marketing was integrated into each phase of business AND product design focused on consumers needs

question

customers that desire to own a lexus, that can afford to do so, that have the time and ability to visit a dealership would be considered to be in Lexus'

answer

market

question

goods, services, and ___ are marketed

answer

ideas

question

___ is the part of the marketing mix that aims at creating value for the consumer by providing features and benefits for the consumer needs

answer

product

question

___ is the component of the marketing mix that provides a means of communication between a seller and a buyer

answer

promotion

question

the unique combination of benefits received by targeted buyers at a specific price is known as

answer

customer value

question

organizations increasingly consider the social and ___ consequences of their actions for all parties

answer

ethical

question

for marketing to occur, there must be ___ with unsatisfied needs

answer

two or more parties

question

firms or agencies that buy goods and services for their own use or for resale are known as

answer

organizational buyers

question

true or false: the key to best serve both buyers and sellers is to trade things of value so that each is better off after the trade

answer

true

question

the essence of marketing is that firms gain ___ customers by providing ___ value

answer

loyal; unique

question

how do marketers inform, persuade, and remind potential buyers about a product of service to influence their opinions and elicit a response

answer

using promotion

question

customer experience is

answer

the internal response that customers have to all aspects of an organization and its offerings

question

you are purchasing a magazine, for marketing to occur, there will be an exchange which must include

answer

both the magazine and the money

question

new product experts estimate that up to ___ percent of the new consumable products introduced annually "don't succeed in the long run"

answer

94%

question

in many settings, relationship marketing is more effective when there is

answer

personal, ongoing communication between parties

question

the decision about whether or not to sell information about ones customers to other organizations, while the practice is not illegal, is a ___ issue

answer

ethical

question

which of the following statements about marketing is TRUE

answer

it isn't always easy; thousands of new products fail each year

question

often there are differing interests among groups internal and external to an organization. How should these be handled?

answer

the organization should seek a balance among differing interests

question

which of the following represents a way buyers and sellers communication so that marketing can occur for a magazine?

answer

seeing the magazine on display in the bookstore

question

marketing is performed by

answer

either individuals or organizations

question

as a marketing manager plans new products to meet consumer needs, she should

answer

study previous new product launches to learn from the past successes and failures

question

marketing directly supports ___ by helping to provide customers0satisfying products required for the organizations survival and prosperity

answer

management goals

question

mcdonalds provides many items on its menu, primarily to ___ the needs and wants of its many types of customers

answer

satisfy

question

___ is the part of the marketing mix that aims at creating value for the consumer by providing features and benefits for the consumer needs

answer

product

question

successful airlines create value by offering

answer

many flights to destinations the consumer wants

question

in addition to an emphasis on consumers' interests, new expectations of marketers now include

answer

consideration of social and environmental consequences of their actions

question

which of the following concepts is of LEAST critical importance to an organizations marketing program

answer

organizational structure

question

a manufacturer that dumps toxic wastes into stream is

answer

violating its social responsibility

question

which of the following is an example of an environmental force

answer

a contraction of the economy nationwide

question

which of the following is the best example of a large corporation using technology to realize the benefits of relationship marketing

answer

apple allows customers to place an internet for a unique and personalized product

question

which is a benefit of effective marketing to society

answer

improves quality of products and services

question

which of the following is true of the relationship between society and marketing activities

answer

society affects marketing and sometimes marketing has an important impact on society

question

firms that employ ___ systematically collect information about their customers needs. It is sometimes possible to use that information to target their best customers with the goods, services, and special promotions that appear most important to those customers

answer

CRM

question

When apple first introduced the personal computer to the market, creating a new industry, consumers did not know

answer

what the benefits would be

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