60 terms

Marketing Exam 1

The first step in the marketing process is ________.
Understanding the marketplace and customer needs and wants
________ are states of felt deprivation.
________ are human needs as shaped by individual personality and culture
When backed by buying power, wants become ________.
The art and science of choosing target markets and building profitable relationships with them is called ________.
Marketing Management
Selecting particular segments of a population of customers to serve is called ___________.
Target Marketing
A brand's ________ is the set of benefits or values it promises to deliver to consumers to satisfy their needs.
Value Proposition
The production concept holds that ___________.
consumers will favor products that offer the most in quality, performance, and innovative features
According to the product concept, a company should ________.
devote its energy to making continuous product improvements
The selling concept holds that _________.
consumers will not buy enough of the firm's product unless the firm undertakes a large scale selling and promotion effort
Which of the following reflects the marketing concept philosophy?
We don't have a marketing department, we have a customer department.
The ______ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.
The societal marketing concept holds that ____________.
B.) A company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long run interests.
The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called _________.
C.) Customer Relationship Management
Which of the following terms refers to a customer's evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers?
A.) Customer-Perceived Value
Sally purchased the newly launched "Jolie" lotion. By attempting to find out if the lotion's perceived performance matches her expectations, Sally was measuring her level of customer ____________.
B.) Satisfaction
Which of the following is an example of consumer-generated marketing?
A.) Toyota's page on Facebook which provides information about it's upcoming cars to its customers
______ describes a longer channel, stretching from raw materials to components to final products that are carried to final buyers.
A.) The Supply Chain
________ refers to the portion of the customer's purchase that a company gets in its product categories.
B.) Share of Customer
_______ is the total combined customer lifetime values of all the company's current and potential customers.
Customer Equity
________ is the process of evaluating each market segment's attractiveness and selecting one or more segments to enter.
Proctor & Gamble selected the Millennials, a demographic that includes college students, as an untapped group of potential customers for their Febreze line of products. Which step of designing a customer-driven marketing strategy process are they executing?
________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
Which of the following is the right order of the four steps to design a customer-driven marketing strategy?
1. Market Segmentation?
2. Market Targeting?
3. Differentiation?
4. Positioning?
Your firm has decided to localize its products and services to meet local market demands. A good approach would be ________ segmentation.
When Pacific Fisheries groups its customers as countries by regions such as Asia, Australia, or New Zealand, it is using which segmentation variable?
geographic location
Pediacertain Pet Supplies divides the pet market according to the owners' race, occupation, income, and family life cycle. What type of segmentation is Pediacertain using?
Demographic variables are the most popular base for segmenting customer groups because
consumer needs, wants, and usage rates often vary closely w/ demographic variables. They are also easier to measure.
When Burger King targets children, teens, adults, and senior with different ads and media, it is practicing ___________ segmentation.
age and lifestyle
Marketers must be careful to guard against ________ when using age and lifecycle segmentation.
The division of buyers into groups based on their knowledge, attitudes, uses, or responses to a product is called _________ segmentation
Your current assignment at York Foods is to find the major advantages people look for in product classes, the kinds of people who look for each advantage, and the major brands that deliver each advantage. What is this segmentation method called?
Markets can be segmented into groups of nonusers, ex-users, potential users, first-time users, and regular users of a product. This method of segmentation is called ________.
User segmentation
Shampoo marketers segment buyers as light, medium, or heavy product users. This is an example of ________ segmentation.
The markets you have chosen to serve in four western states can be effectively reached and served. You would tell the marketing manager that these segments are ________.
When the size, purchasing power, and profiles of a market segment can be determined, it possesses the requirement of being ________.
When a market segment is large or profitable enough to serve, it is termed _____________.
When an effective program can be designed for attracting and serving a chosen segment, the segment is best described as ___________.
The market segments your company is targeting are conceptually distinguishable and respond distinctively to various marketing mix elements and programs. Therefore, these segments are ___________.
A segment is less attractive when
The 55-year-old baby boomers share common needs in music and performers. When a music company decides to serve this group, the group is called a
Target market
Mass marketers, such as Target and Venture Stores, often ignore market segment differences and target the whole market with one offer. What is their approach to segmentation?
Undifferentiated (mass) marketing
When Port Orleans Shipping uses segmented marketing, it targets several segments and designs separate offers for each one. This approach is called ________ marketing.
Differentiated (segmented) marketing
________ is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor.
In the promotion mix, ________ performs the functions of building a good rapport with entities outside the company, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events.
Public Relations
In a promotion mix, ________ occurs when firm's sales force make individual presentations to consumers for the purpose of making sales and building customer relationships.
personal selling
In a promotion mix, ________ involves personally connecting with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships.
direct marketing
What is Live Nation?
What is the mission of Live Nation?
What is the "Ugly Truth" campaign about?
It is about showing the "ugly truth" behind cigarettes. Shows negative facts about smoking.
Who is the target market for the Ugly Truth campaign?
middle schoolers (preteens) to young adults.
Dr. Blair used the Ugly Truth campaign to illustrate which of the following concepts?
Dr. Blair showed a funny ad from the campaign that featured a big stuffed dog and cat. What did the dog and cat do?
Poop and pee
The Ugly Truth website had many videos that were entertaining. What was the purpose of the videos?
To reveal "ugly" truths and negative facts about smoking.
What was the first stage in the advertising strategy model?
According to Dr. Blair, what should the message contain?
in notebook
Who was the comedy team that is planning to make a video for the Ugly Truth campaign?
The TV ads for the Ugly Truth campaign ask viewers to go to twitter do something. What are they asked to do.
They are asked to vote for which fact that they think is the "ugliest".
The evaluation section of the advertising strategy should refer primarily back to which section?
What little kids' show was parodied in a video shown by Dr. Blair?