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Micro marketing

answer

Performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to consumer or client.

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Macro marketing

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Social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes society's objectives.

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the 4 P's

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product, promotion, distribution (placement), and pricing

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Demand analysis

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number of people/characteristics, buyer behavior/needs, desires

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environmental analysis

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political, legal, technological, cultural

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Product

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-New product development -product line decisions -branding/trademarks -packaging - warranties -features -service -quality -accessoriesPr -installation

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Promotion

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-Advertising: Copy/media mix/media selection/scheduling/budget -Personal selling: selection/training/ motivation/compensation -sales promotion -Publicity

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Distribution

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-degree of distribution -type of distributor -type of service -type of image -location of distributors -inventory levels -product placement -shelf facings

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Price

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-to ultimate consumer -to middlemen -product line pricing (PLC) -flexibility -discounts/allowances -geographic terms -across PLC

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In operationalizing the marketing concept in a retail business, which is more important in determining where to "draw the line" in determining merchandise return policies, check cashing policies, etc?

answer

Ensuring we dont make 95%+ of our customers who are "good" customers jump thru too many hoops to do business with us and making them feel as if we value their patronage

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Those who are considered marketers under a broad definition of marketing include all the following except : -social organizations -cultural organizations -individuals -politicians -all the above

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all the above

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The most important element of the marketing concept is

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consumer focus

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which of the following isnt part of marketing? -pricing -buying -promoting -advertising -all the above are part

answer

all the above are part

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in developing a marketing plan, which should come first? -select a target market -set our budget -establish our objectives -measure our results -put our 4 P's together

answer

establish our objectives

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MICRO-marketing:

answer

is what individual organizations do when applying the 4 P's

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According to law enforcement agencies, cocaine, marijuana, and other illegal drugs are experiencing ____ demand and require ____ marketing.

answer

unwholesome; counter marketing

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Which of the following isnt included in a marketing plan? -the control procedures used -the costs involved -the results expected -what marketing mix is to be offered -all the above should be included

answer

all the above should be included

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T or F: as marketers, we try to establish an emotional tie between our product and the target market.

answer

true

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The value in marketing our company to non-consuming target markets is:

answer

so they do not interfere with our marketing to consuming target markets.

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All of the following are non consuming target markets except -board of directors -employees -stockholders -government -all the above

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all the above

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Vail Ski resort, by offering lower rates, hot air ballooning, mountain biking and art festivals in the summer, engages in

answer

Synchromarketing

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Coffee(before starbucks) was experiencing ____ demand and required ___ marketing.

answer

faltering; re marketing

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Perhaps the most critical key to success in marketing is:

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establish an emotional tie between the brand and your target market

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Which of these groups is not an intermediaries? -wholesalers -the media -telecommunications companies -market research companies -all the above

answer

all the above

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Criticisms of marketing include all the following EXCEPT: -helps pressure companies to market unsafe products -increases costs of products -unethical behavior of employees -leads to annoying advertising -creates artificial demand

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unethical behavior of employees

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What are the 4 consuming target markets?

answer

consumers, international, industry, and government

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increasing the price of a product to control demand is considered to be what type of marketing technique?

answer

de marketing

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The marketing environment consists of:

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external forces that directly or indirectly influence an organizations acquisition of inputs and creation of outputs

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the marketing environment includes all of the following forces except: -competitive -technological -logistics -communication -demography

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logistics

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the three major "players" in a broadened, progressive view of marketing include all of the following except: -product -price -marketer -target market -all of the above are major players

answer

price

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T or F: Non consuming target markets are important because we want them to become consuming target markets.

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false

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T or F: Marketing should be utilized and can be valuable regardless of the supply-demand ratio.

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true

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The most difficult demand state for marketers is: -latent -negative -faltering -no -overfull

answer

negative

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T or F: One way to stand out in a 30 min interview is to read business (major related) info at least 15 min a day, 3 times a week so you will have background info that will help you communicate with interviewers.

answer

true

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T or F: The 3 main "players" in marketing are product, target market, and marketer.

answer

True

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The process of collecting information about forces in the marketing environment is called

answer

environmental scanning

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In which period is unemployment extremely high?

answer

depression

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Which regulatory agency most heavily influences marketing activities?

answer

FTC

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Recording industry sales are faltering because of changes in:

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technology

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Cell phone growth may be slowing slightly because of:

answer

saturation in the market

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Coffee consumption in the US fell for nearly 50 years as a result of trends in the:

answer

culture

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Incidence of landline telephones is decreasing in the US because of changes in

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culture and technology

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What could avoid bad translations?

answer

back translating

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Looking at exchange rate, what environmental force is it?

answer

economic

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the Colgate toothpaste example (making it a powder) is an example of what environmental force?

answer

sociocultural

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T or F: Legal/regulatory forces inhibit company success.

answer

false

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When should environmental scanning be done? -before global marketing -periodically -before introducing a new product

answer

all of the above, but most important is before global marketing

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Marketing Plan:

answer

-marketing objectives -target market -marketing activities -time frame -expected results -control mechanisms -marketing budget

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Intermediaries:

answer

-wholesalers -retailers -financial organizations -media -advertising agencies -telecommunications companies -computer companies -market research companies -transportation companies

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Criticisms of Marketing:

answer

-creates artificial demand -unsafe products -planned obsolescence -easy credit -deceptive/annoying advertising -increases cost of products -pollution -scarce resources

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Benefits of Marketing:

answer

-increased information -increased choice -standard of living -improved products -convenience

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3 Market Typologies

answer

marketer, product, target market

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Marketer:

answer

business social organizations cultural organizations political organizations knowledge organizations religious organizations individuals

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Product:

answer

durables non-durables services persons places ideas

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Negative demand

answer

*most difficult type of marketing disabuse demand needs conversional marketing (going to dentist, vaccines)

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No demand

answer

create demand needs stimulational marketing

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Latent demand

answer

develop demand needs developmental marketing (tickle me elmo, ipod)

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Faltering demand

answer

*2nd most difficult type of marketing revitalize demand needs re-marketing (Coffee, PC's)

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Overfull demand

answer

reduce marketing needs de-marketing (cookie brand had this problem)

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Unwholesome demand

answer

destroy demand needs counter-marketing (illegal drugs, unethical things; organizations such as MADD, law enforcement)

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Full demand

answer

supply=demand maintain demand needs maintenance marketing

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Irregular demand

answer

supply is constant, demand varies synchronize demand needs synchromarketing (Ski resorts-cheaper rates, different activities in summer months)

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International marketing

answer

developing and performing marketing activities across national boundaries

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Marketing Activities

answer

demand analysis strategic planning competitive analysis environmental analysis(pol,legal,tech,cultural) setting objectives, goals monitor success (control mechanisms) marketing department organization marketing research marketing information system buying

question

Environmental Forces

answer

economic competitive political technological sociocultural legal/regulatory

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