Marketing 303 Test 2 Alt Study Guide

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Marketing Mix

If consumer behavior is not well understood, a marketer will have difficulty creating an appropriate

Stimulus

is a unit of input from either an external or internal source that can affect sight, smell, taste, touch, or hearing.

Consumers with prior experience

experience in buying a certain product will spend less time searching for product information and will limit the number of products that they consider.

Routine Response Behavior

The purchase of products like soft drinks, cleaning products, and gasoline generally exemplify.

High-involvement products

In general, detailed, informative advertisements are most effective for ___________________ because consumers actively search for additional information prior to making their decisions.

Fast

Over the past two decades, the United States has entered a period of ______ cultural change.

Middle Class

The majority of Americans today define themselves as _________, regardless of their actual income or educational attainment.

Opinion leaders

are often the first to try new products and services.

True opinion leaders

One-way marketers are identifying _______________ is by looking to teen blogs to identify the social trends that are shaping consumer behavior.

Socialization process

The ____________________ involves adopting the values of the culture in which a person was raised and is usually strongly influenced by the family.

Learned

An attitude is a ________ difference among consumers.

Service attribute

It is usually easier to change consumer beliefs about a _____________ than a product attribute.

Market

A ________ is people or organizations with needs or wants, and with the ability and the willingness to buy.

Family Life Cycle

The _______________ is a series of stages determined by a combination of age, marital status, and the presence or absence of children.

Market Segmentation

The Purpose of _________________ is to enable the marketer to tailor marketing mixes to meet the needs of one or more specific Segments.

Multisegment Strategy

_______________________ is a strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each.

One-to-One Marketing

___________________ is a form of mass marketing and does build long term relationships.

Demographic Segmentation

Bases for ____________________ deals with age, gender, income and ethnicity.

Effective Positioning

_________________ chooses a market position where marketing efforts will have the greatest impact.

Product Differentiation

_____________________ is a positioning strategy that some firms use to distinguish their products from those of their competitors.

Repositioning

_______________ involves changing perceptions of a brand in relation to competing brands.

Geodemographics

Psychographic segmentation is market segmentation based on personality, motives, lifestyles and _______________________.

Little shopping effort

Convenience products, though inexpensive, require ____________________ by buyers.

Unsought Product

24. A product unknown to the potential buyers or a known-product that the buyer does not actively seek is referred to as an ________________.

Satisfied customers

The best generator of repeat sales is _____________________.

Specialty product

A _________________ is a particular item for which consumers search extensively and are very reluctant to accept substitutes.

Brand

A ________ is a term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors products.

Brand loyalty

______________ is a consistent preference for one brand over all others.

Trademark

A _____________ is a legal term indicating the owner's exclusive right to use a brand name or part of a brand.

Persuasive

Labels that contain standard promotional claims like "new," "improved," and "super" are examples of _____ labels.

Private brand

A ________________ is owned by a wholesaler or a retailer.

National brand

Brand Names such as Kodak and Lay-z Boy are called manufacturer's brand or _______________.

Marketing channel

A ________________ is a set of interdependent organizations that ease the transfer of ownership as products move from producer to business user or consumer.

Channel members

As products move through the marketing channel, ______________ provide specialization and division of labor, overcome discrepancies, and provide contact efficiency.

Channel intermediary

The three basic functions a ___________________ provides are transactional, logistical, and facilitating functions.

Transactional functions

__________________ include contacting potential customers and assuming the risk of owning inventory.

Retailer Channel

The ____________ is used more often in consumer markets than in business-to-business markets.

Channel intermediaries

The three basic functions ________________ perform are transactional, logistical, and facilitating.

Wholesaler Channel

A _________________ is commonly used for low-cost consumer items that are frequently purchased, such as candy, cigarettes, and magazines.

Industrial Distribution

Companies selling standardized items of moderate or low value to other businesses (not to consumers) often use _____________.

Channel Partnering

_________________ is the joint effort of all channel members to create a supply chain that serves customers and creates a competitive advantage.

Internet

The _________ is quickly becoming an alternative channel for delivering services.

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