1/209
Looks like no tags are added yet.
Name | Mastery | Learn | Test | Matching | Spaced |
---|
No study sessions yet.
Routine Problem Solving
Which problem solving variation would normally be used to purchase such items as toothpaste, soda, or chewing gum?
Lifestyle and personality
Which of the following are examples of psychographic variables?
define the problem and research objectives
The first step in the marketing research process is to .
Sunbelt
The movement by population to the has lessened the demand for warm clothing and home heating equipment and increased demand for air conditioning.
Syndicated-service research firms
Which of the following types of marketing research firms would best be described as being one that gathers consumer and trade information which they sell for a fee (e.g., Nielsen Media Research)?
two or more parties with unsatisfied needs, a desire and ability to satisfy them, a way tocommunicate, and something to exchange
Which of the following conditions must exist in order for marketing to occur?
Dogs
_ are SBUs with a low share of low-growth markets-they may generate enough cash to sustain themselves, but they do not hold the promise of ever becoming real winners for the firm.
Low growth potential, small market share, and eventually leave marketplace. Strategy options: harvest or divest.
promotion
The element of the marketing mix demonstrated when a company places an ad in the Yellow Pages is:
market
Marketers often use the term to cover various groupings of customers.
50%
In the USA, on an average what percentage of the consumer's dollar goes towards covering marketing costs?
~30%
Approximately what percentage of the US civilian workforce performs marketing activities?
99%
What percentage of American homes have at least 1 TV?
collection of buyers
In a simple marketing system, a "market" is a:
Peter Drucker
Who is famously quoted as saying: "There will always be need for some selling. But the aim of marketing is to makeselling superfluous."
70% to 30% services to goods mix
The U.S. economy today consists of a _ services to goods mix.
target markets
During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. These segments are called .
customer solution, cost, convenience, and communication
The four Ps represent the sellers' view of the marketing tools available for influencing buyers. From a buyer's point of view. each marketing tool is designed to deliver a customer benefit. Robert Lauterborn suggested that the sellers' four Ps correspond to the customers' four Cs. The four Cs are .
Competition
includes all the actual and potential rival offerings and substitutes that a buyer might consider.
transaction
When Bob sells a TV to Roger and receives $400 in cash, a(n) ___ has just occurred.
product, price, promotion, and place
One traditional depiction of marketing activities is in terms of the four Ps. The four Ps are characterized as being _.
consumer markets
Companies selling mass consumer goods and services such as soft drinks, cosmetics, air travel, and athletic shoes and equipment spend a great deal of time trying to establish a superior brand image in markets called .
experience
In response to giant retailers, entrepreneurial retailers are building entertainment into stores with coffee bars,lectures, demonstrations, and performances. They are marketing a(n) rather than a product assortment.
Key Customer Markets
Consumer, Global, Business, Nonprofit/Government
The competing concepts/orientations/philosophies under which organizations have conducted marketing activities include: __. They guide and direct a firm's marketing efforts.
customer orientation
Marketers argue for a in which all functions work together to respond to, serve, and satisfy the customer.
the 4 Ps (product, price, promotion, place)
controllable variables aka
Encyclopedia Britannica-we distribute information.
Which of the following most closely matches a correct market-oriented definition of a business?
Product concept
Under which of the following company orientations would we expect businesses to suffer from "marketing myopia"?
Marketing concept
Under which of the following company orientations does the firm try to achieve its long-term goals by satisfying customer wants and needs.
selling concept
The is practiced most aggressively with unsought goods, goods that buyers normally do not think of buying.
societal marketing concept
The holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being.
selling
The concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization's products.
selling
One of the main differences between the selling and marketing concepts is that, is preoccupied with the need to convert products into cash.
Product concept
Under which of the following company orientations toward the marketplace would we expect to find the "better mousetrap"fallacy?
product
The concept holds that consumers will favor those products that offer the most quality, performance, or innovative features.
40+ age segment
Which of the following age groups is thought to control three-quarters of the country's wealth?
infinite
With respect to the shortage of raw materials, air and water are classified as resources. However, as we know, problems are beginning to plague both our air and water quality.
"traditional"
The household consists of a husband, wife, and children (and sometimes grandparents)
Japan
Which country is known for having 99 percent of its population literate?
Hispanic Americans
Expected to account for a quarter of the U.S. population by 2050, are the fastest growing minority.
subcultures
Each society contains , groups with shared values emerging from their special life experiences or circumstances.
Environmental scanning
_ is the process of continually acquiring information on events occurring outside the organization in order to identify and interpret potential trends.
population
The main demographic force that marketers monitor is(are) .
convenience
If a marketing researcher selects the most accessible population members, he or she would have selected the sampling method.
Marketing researchers have a choice of three main research instruments in collecting primary data:
Secondary data
are data that were collected for another purpose and already exist somewhere.
a tachistoscope
Mechanical devices are occasionally used in marketing research. For example, flashes an ad to a subject with an exposure interval that may range from one hundredth of a second to several seconds. After each exposure, the respondent describes everything he or she recalls.
the semantic differential
If a questionnaire designer decides to use a scale that connects two bipolar words wherein the respondent selects the point that represents his or her opinion, the designer is most likely using what is called .
Marketing research
is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.
experimental
The most scientifically valid market research is research.
After deciding on the research approach and instruments, the marketing researcher must design a sampling plan. This calls for three decisions:
Business mission
The first step in the business unit strategic-planning process deals with which of the following?
Strengths, weaknesses, opportunities, and threats
SWOT stands for:
market-development
If you were the marketing manager of an organization that had chosen growth via current products sold to new markets,your organization would have chosen a strategy.
opening the first McDonald's in China
Assume McDonald's is engaging in a market development strategy. Which of the following actions best illustrates a market development strategy?
industry growth rate.
In the Boston Consulting Group (BCG) model to analyze a firm's strategic business units, or SBUs, the vertical axis reflects the:
cash cow.
Gillette continues to manufacture Liquid Paper correction fluid for use with typewriters even though most of the world uses word processors. It is a small market that has little growth, but Liquid Paper has the largest market share, and Gillette invests no promotional monies in maintaining the declining product. Liquid Paper is an example of a:
Strategic business unit.
Which of the following terms matches to the phrase "it is a single business or collection of related businesses that can be planned separately from the rest of the company"?
marketing plan
The is the central instrument for directing and coordinating the marketing effort.
intensive growth
Market-penetration, product-development, and market-development strategies would all be examples of strategies.
Personality
is a set of distinguishing human psychological traits that lead to relatively consistent and enduring responses to environmental stimuli.
Selective distortion
is the tendency to interpret information in a way that will fit our preconceptions.
Sigmund Freud
assumed that the psychological forces shaping people's behavior are largely from the subconcious, and that a personcannot fully understand his or her own motivations.
choice
When a consumer makes the final decision on which brand to buy, he or she selects a brand from the set.
culture
The fundamental determinant of a person's wants and behavior is the person's .
reference groups
A person's consist(s) of all the groups that have a direct (face-to-face) or indirect influence on his/her attitudes or behavior.
orientation
If a direct mail marketer wished to direct promotional efforts toward the family of , efforts need to be directed toward parents and siblings of the family members.
personality
A person's consistent behaviors or responses to recurring situations is his or her:
Consumer behavior
is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants.
Marketing (AMA definition)
is an organizational function and a set off processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
Marketing
"meeting needs profitably"
Marketing management
is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
Marketing people are involved in marketing ten types of entities:
Physical goods
constitute the bulk of production and marketing efforts
Properties
a: real property
b: financial property
___ are intangible rights of ownership of either real estate (a) or stocks and bonds (b).
Industry
collection of sellers
Market
collection of buyers
Satisfaction
reflects a person's judgment of a product's perceived performance
Value
is a central marketing concept
need
state of felt deprivation in a person
wants
'needs' shaped by culture & individual personality.
demand
'wants' backed by purchasing power.
product
Anything that can be offered to a market for attention, acquisition, use or consumption, that might satisfy a want or need.
Market
The set of actual & potential buyers of a product.
Marketing officers are under pressure to:
Customers are becoming more powerful due to:
Production orientation
focuses on internal efficiency to achieve lower prices for consumers. It assumes that price and easy availability are critical variables in the purchase decision. Works mainly when demand > supply. Mass production, assembly line, etc. Makes more sense in developing countries such as India and China.
Sales orientation
assumes that buyers resist purchasing items that are not essential and that consumers must be persuaded to buy.
Marketing orientation
is based on an understanding that a sale predominantly depends on the customer's decision to purchase a product and on the customer's perception of the value of that product.
Societal/holistic marketing orientation
holds that the firm should strive to satisfy customer needs and wants while meeting organizational objectives and preserving or enhancing both the individual's and society's long-term best interests.
Product orientation
focuses on improving the product features and quality (i.e. adding more & more functions, attributes, features, etc.).
(a/b) production or sales
(c) marketing
Ex. If IBM had a (a) or (a) orientation it might say that its business is to make computers. But with a (c) orientation it might say it is in the business of solving information-handling problems.
Selling Orientation
Marketing Orientation
production
The _ orientation is most likely to work for firms producing generic products that compete almost solely on price.
sales
The orientation is often used with unsought products like life insurance, burial plots, and encyclopedias. The fundamental problem with it is a lack of understanding of the needs and wants of the marketplace.
Environmental factors in the macroenvironment that lead to new opportunities and threats. "Non-controllable" forces
Four types of industrial structures:
Marketers need to be aware of the threats and opportunities associated with four trends in the natural environment:
Marketers should monitor the following trends in technology: