Studied by 26 people
From its inception, Chobani wanted to place its yogurt where
in warehouse club stores like Sam’s club or Costco
All of the following are marketing mix strategies that Chobani has used to sell its yogurt except which
price the Chobani yogurt line below its major competitors (Yoplait and Dannon) to increase sales and market share
Marketing refers to
the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
To serve both buyers and sellers, marketing seeks to discover and ____ the needs and wants of prospective customers
satisfy
Marketing seeks to discover the needs and wants of prospective customers and satisfy them. Essential to this process is the idea of exchange, which refers to
the trade of things of value between buyer and seller so that each is better off after the trade
Marketers often discover consumers needs by
conducting effective marketing research
A ____ occurs when a person feels deprived of basic necessitites such as food, clothing, and shelter
need
The marketing mix refers to
the marketing manager's controllable factors - product, price, promotion, and place - that can be used to solve a marketing problem
In marketing, an offering refers to
a good, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants
A for-profit organization refers to
a privately-owned organization that serviced its customers to earn a profit so that it can survive
Social entrepreneurs who start new ventures such as Teach for America and SIRUM are usually structurered as ____ rather than business firms
nonprofit organizations
An industry refers to
organizations that develop similar offerings
The level in an organization where top management directs overall strategy for the entire organization is referred to as the
corporate level
The level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities is referred to as the
strategic business unit level
By understanding its core values, an organization can take steps to define its ____ a statement of the organization's function in society that often identifies its customers, markets, products, and technologies.
mission
A new company projects that its sales will exceed its expenses within the first year of operation. This is an example of which type of goal
profit
Marketing dashboards are useful for marketers to keep track of
all of the above
A firm conducting an environmental scan of the marketplace might uncover key ____ such as the growing popularity of video bloggers and the increasing mobility and connectivity of consumers
trends
A proposed law in New Jersey would ban the use of tanning beds by anyone under the age of 18. This restriction would be an example of which environmental force
regulatory
Which of the following would be identified as a social force in an environmental scan
an increase in Asian immigration
The generation of children born between 1946 - 1964 is referred to as
baby boomers
The generation of children born between 1977 – 1994 is sometimes referred to as
millennials
Multicultural marketing refers to combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different
race or ethnic groups
Buying a book at www.amazon.com to give as a birthday present is an example of _____ transaction.
an extranet
In the Maslow hierarchy of needs, those needs that are concerned with love and friendship are referred to as ____ needs
social
The anxiety felt because the consumers cannot anticipate the outcome of a purchase but believes there may be negative consequences is referred to as
perceived risk
Consumers’ purchases are often influenced by the views, opinions, or behaviors of others. Two aspects of personal influence that are important to marketers are opinion leadership and
word-of-mouth activity
Subgroups within the larger, or national, culture with unique values, ideas, and attitudes are referred to as
subcultures
Business-to-business marketing refers to
the marketing of products and services to companies, governments, or not-for-profit organizations for use in the creation of products that they can produce and market to others
All the following are organizational buyers except
ultimate consumers
The service market sells diverse services such as legal advice, auto repair, and dry cleaning, and this market represents 75% of all industrial firms. Which of the following is another service firm
not retailers
European style furniture headquartered in New York, acquires fine furniture from several high-quality manufacturers in Europe and enjoys exclusive distribution rights from them to sell to furniture stores throughout the United States. In this context, ESF is most likely classified as
a reseller
The North America Industry Classification System (NAICS)
provides common industry definitions for Canada, Mexico, and the US to measure economic activity in the three-member countries
Derived demand refers to
the demand for industrial products and services that is driven by the demand for consumer products and services.
Firms marketing consumers’ products or services often try to reach thousands or millions of individuals or households. Firms selling to organizations
are restricted to far fewer buyers
The decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers is referred to as
organizational buying behavior
Which of the following statements about the dynamics of world trade is most accurate
China, the US, and Germany far outpace other countries in terms of imports and exports
Government taxes on products or services entering a country that primarily serve to raise prices on imports are referred to as
tariffs
When firms originate, produce, and market their products and services worldwide, it is referred to as
global competition
The clandestine collection of trade secrets or proprietary information about a company’s competitors is referred to as
economic espionage
What is considered normal and expected about the way people to do things in a specific country is referred to as
customs
A country’s income distribution is important because it gives mor reliable picture of a country’s ____ than just per capita income alone
purchasing power
A global market entry strategy in which a company produces goods in one country and sells them in an other country is referred to as
exporting
A globally market entry in which a foreign company and a local firm invest together to create a local business in order to share ownership, control and profits of the new company is referred to as
a joint venture
Which of the following countries is the world’s leading importer
the US
traditional firm views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants more than differences
traditional - transnational firm
Which of the following statements about how women buy new cars today is most accurate
women are more likely to make their new car purchase selection as a result of info provided by a friend or relative than any other type of info
An external search for product info is likely to occur when
the cost of gathering info is low
At which stage of the organizational buying decision process would a firm use key organizational buying criteria such as price, quality, delivery time, and technical capability to select a supplier
purchase decision
A decision refers to
a conscious choice among two or more alternatives
The third step of the marketing research approach is to
collect relevant info
The fifth step of the marketing research approach is to
take marketing actions
Specifying constraints, identifying data needed for marketing actions, and determining how to collect data would take place during which step of the five-step marketing research approach
develop the research plan
According to the figure above, what does A represent in the marketing research process
define the problem
In a decision, the restrictions placed on potential solutions to a problem are referred to as
constraints
Data refers to
facts and figures related to the problem that are divided into two main parts: secondary and primary data
Facts and figures that have already been recorded before the project at hand are referred to as
secondary data
A relatively homogeneous group of prospective buyers that results from the market segmentation process is referred to as
a market segmentation
A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products is referred to as
product differentiation
A market-product grid is a framework to relate
the market segments of potential buyers to products offered of potential marketing actions by an organization
Nike employs ____ strategy at its website, which allows customers to design a sneaker to their own personal specifications
mass customization
When a new product or a new retail chain steals customers and sales from the organization’s older products and retail outlets, it is referred to as
cannibalization
Four general categories are used to segment consumer markets. Which of these is one of them
behavioral segmentation
By dividing its tennis racquet market into three categories, which it labels Performance, Recreational, and Junior tennis players, Prince Sports is using a marketing strategy called
market segmentation
All of the following are psychographic segmentation variables except which
birth era
ExxonMobil targets consumers that fill up their gas tanks more than once a week with its Chase Visa fuel card. In this example, ExxonMobil is using which segmentation variable
behavioral
Product positioning refers to
the place a product offering occupies in the consumers’ minds on important attributes
A product refers to
a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers’ needs and is received in exchange for money or something else of value
Convenience products refer to
products consumers purchase frequently and with a minimum of shopping effort
Industrial services are support products that include items such as
maintenance, repair, and legal services
Making recommendations, implementing those recommendations, and evaluating the results would take place during which step of the five-step marketing research approach
take marketing actions
Nielsen collects national TV ratings by using a "people meter." This is a box that is attached to televisions, DVRs, cable boxes, and satellite dishes in about 30,000 households across the country; has a remote control that is used to indicate when a viewer begins and finishes watching a TV program, and stores and then transmits the viewing information to Nielsen each night. The information Nielsen is collecting is referred to as
observational data
The ____ method has two advantages over other traditional methods of data collection: the cost is relatively minimal and the turnaround time for data collection to report presentation is much quicker.
online survey
Personalization refers to
the consumer-initiated practice of generating content on a marketer's website that is custom-tailored to individual's specific needs and preferences
The practice of using the information provided by cookies for directing online advertising from marketers to those online shoppers whose behavioral profiles suggest they would be interested in such advertising is referred to as
behavioral targeting
The online consumer who shops online but buys offline, or shops offline but buys online is referred to as a ____ consumer
cross-channel
What is the marketing objective for the growth stage of the product life cycle
stress differentiation
The classifications of innovators, early adopters, early majority, late majority, and laggards are all based upon
when consumers are begin buying a new product
As product adopters in the diffusion of innovation, laggards
have a fear of debt and use neighbors and friends as info sources
The McDonald's Corporation recently announced that it will begin phasing out the use of eggs from hens housed in cages. The company uses about two billion eggs annually, or a little more than 4 percent of the eggs produced in the United States. This change in McDonald's egg-containing products to appeal to healthy eating habits is a ____ strategy
product modification
Unsought products are those products that
products or services that unless needed, consumers seldom think of them
The process of selecting elements from a population, collecting data from them, and using it as a representative of all those a researcher is interested in, is referred to as
sampling
In marketing experiments, the independent variable is the _____ and the dependent variable is the ____
cause of an action;result of an action
Heavy-duty Rayovac flashlights are sold to consumers throughout the United States. However, Philips manufactures the bulb s used in Rayovac flashlights. The quantity of bulbs Philips makes is related to how many flashlights Rayovac sells. This is an example of
derived demand
Services can be classified by their method of delivery. Services such as ATMs, taxis, and airlines are considered
equipment-based services
A situation that occurs when a service provider is available but there is no demand is referred to as
idle production capacity
A group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range is referred to as a
product line
The four stages of the product life cycle are
introduction, growth, maturity, decline
Which of the following products would have a high-learning product life cycle curve
electric cars
Note 
Flashcard (83)