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Marketing Final CH.1-19
Also includes Appendix A and B and the Syllabus
Terms in this set (143)
The basic objectives of place marketing is to:
Attract visitors or new businesses to a particular area.
Mobile marketing refers to:
Marketing messages transmitted via wireless technology
What is the role of marketing in sustainability efforts?
Firms gain credibility from their efforts to protect the environment
the moral standards of behavior expected by society
in the relationship era, firms focus on:
long-term relationships with customers and suppliers
buying and selling are:
the 2 exchange functions of marketing
Banks install ATM machines in supermarkets to address customers wants for instant cash when shopping. what type of utility are banks creating for customers?
as an official sponser of the olypics the coca-cola company engages in ________marketing.
The utility of a product or service is its:
A mission can be defined as an essential purpose that differentiates one company from others
A target market is a group of customers toward whom a firm directs its marketing efforts
according to the BCG matrix, cash cow business produce strong cash flows and invest heavily in the units own promotions and production capacity
strategies once implemented should not be changed even if the actual performance does not meet the desired results.
apple itunes is an example of a successful first mover
middle and supervisory-level managers spend less time as compared to CEOs on planning activites
SWOT analysis refers to an examination of a firm that is limited to the variables of its stability, work ethic organizational structure, and technology expertise.
the rule of 3 states that the third major company in an industry has little chance of survival
the planning process identifies objectives and determines the actions that are needed to attain those objectives
the ability to download microsoft and IBM software products directly from the internet is a part of each firms pricing strategy
Marketers standards of conduct and moral values is
the 4 basic consumer rights are: the right to be informed, the right to be heard, the right to be safe and the right to ________
During which phase in the business cycle do marketers consider lowering prices and increasing promotions that include special offers to stimulate demand?
the council of Better Business Bureau is a national organization devoted to consumer service and ______
the process of collecting information about the external marketing environment to identify and interpret potential trends is
which act prohibits price discrimination in sakes to wholesalers, retailers, or other producers?
the robinson-patman act
the Wheeler act deals with
the federal trade commission act regulates
the boy scout plan that was presented in class on Jan. 16, was what type of plan?
indirect competition occurs among marketers of:
products that can be easily substituted
the production, promotion, and reclaimation of environmentally sensitive products is called
the amount of money available with people after buying necessities such as food, clothing and housing is referred to as
which of the following refers to a platform where a host or writer posts information or opinions on various topics and followers may respond?
once marketers answer the question of who they are trying to reach by targeting their audience, they ask a second vital question in social media marketing:
"How do we create content with the firms goals and strategies in mind?"
A _____ is generally responsible for generating programs necessary to build and assemble the features for social tools such as blogs and communities.
social media developer
Social media marketing differs from traditional marketing in that social media marketing,
solicits the audiences participation in the message
the ____ of a social media marketing plan examines and evaluates the competitors presence in social media, including the platforms and tools they select and their overall effectiveness.
the star tribune article shared in class on Tuesday concerned the FTC and what issue?
Major ethical issue faced by social media marketers during their marketing campaigns?
a(n) _________ is a free/paid software download that links users to a wide variety of goods and services, media platforms, search engines, and the like.
a person who is in charge of social media analytics is responsible for:
measuring the results of the social media marketing effort.
a(n)________ is a software that enables users to communicate with each other online
social media tool
the process for encoding data for security purposes is called
_____is a scam that collects personal information through voice response systems
_____is the strategic process of creating, distributing, promoting, and pricing goods and services to a target market over the internet or through order delivery
a(n)______is a secure website in which a company and its suppliers share data related to e-marketing, from product design through order delivery
_______refers to the % of visitors to a website who make a purchase
_______is the name for junk mail
_______is an arrangement by which a marketer pays a fee to have his/her firms website or ads pop up after a computer user enters a key word
a(n)____is the file that holds items the online shopper has chosen to by
electronic shopping cart
a(n)______is an online audio/video file that can be downloaded to other digital devices
a(n)_______is an electronic barrier between a companies internal network and the internet that limits access into and out of the network
Syncretic role is seen when partners independently make an equal number of purchase decisions.
all hispanics speak the single universal form of spanish
the basic core values of a culture are highly dynamic and flexible
african americans are part of every economic group in the US
culture refers to the values, beliefs, preferences and tastes that are handed down from one generation to the next
cups, french fry bags and burger wrappers at in and out burger contain bible verses
the cognitive component of attitude essentially deals with feelings or emotional reactions
maslows hierarchy of needs begins with self actualization needs and progresses to physiological needs at the highest level
False - other way around
social class is determined by the sole criterion of income
perception is the meaning a person attributes to incoming stimuli gathered through the senses of hearing, taste, smell, touch and sight
______ is a combination of strategies and tools that drive relationship programs, reorienting the entire organization to a concentrated focus on satisfying buyers.
Customer relationship management
___involves movement of high wage jobs from one country to lower cost overseas locations
the identity of the ______ is the most difficult role for salespeople to pinpoint
which is the largest single source of statistical information on the sizes and characteristics of business markets?
trade industries are a component of business markets that include
in china, education, obedience, health, respect, efficiency and _____ are considered core values
which of the following inventory practices seeks to boost efficiency by cutting inventories to absolute minimum levels?
which of the following stages of the organizational buying process involves comparing vendors proposals?
evaluating proposals and selecting suppliers
_____is an accounting team that refers to charging a portion of a capital items cost as a deduction against the companies annual revenue for purposes of determining its net income
location that is ideal for a US firm hoping to nearshore its operations
what is true regarding the North American Free Trade Agreement (NAFTA)?
the member nations of NAFTA focus mainly on economic cooperation rather than on political integration
A(n)______ buys products from domestic producers and resells them abroad
what US law makes it illegal to bribe a foreign in an attempt to solicit new or repeat sales abroad
the Foreign Corrupt Practices Act
the ____ is a form of multinational economic integration that seeks to reconcile all government regulations affecting trade
_______ is a contractual arrangement in which a wholesaler or retailer agrees to meet the operating requirements of a manufacturer
the US is the worlds largest exporter of _______
when a firm uses a standardized marketing mix with minimal modifications in all of its domestic and foreign markets, it is known as a ________ marketing strategy
________is the most frequently spoken language in the world
what is a reason that leads to low levels of risk for foreign marketers in the United States?
related party trade is defined as the trade relationship between
a corporation and its overseas subsidiaries
the tendency of members of a generation with common characteristics to be influenced and bound together by significant events occuring during their key formative years is called:
a(n)______is a tool that helps marketers place products in a market by graphically illustrating consumers perceptions of competing products within an industry
a firm that promotes numerous products with several marketing mixes designed to satisfy smaller target segments is said to practice _____
the division of the total market into smaller, relatively homogeneous groups is called
the 80/20 principle is sometimes referred to as
a product that is purchased for personal use by an ultimate consumer is called
A_______ describes various activities, interests, and respondents opinions that allows researchers to develop lifestyle profiles.
_______is a targeting strategy that targets potential customers at a very basic level, such as by zip code, specific occupation, or lifestyle
________are computer systems that assemble, store, and manipulate and display data by their location
geographic information systems
a ____is an urbanized county or set of counties with social and economic ties to nearby areas
primary metropolitan statistical area
mail surveys and telephonic interviews are the most common method for conducting primary research in developing countries
a research design is a master plan or model for conducting marketing research
a simple random sample is a non probability sample selected from among readily available respondents
the first step in the marketing research process is to conduct exploratory research and then use the information to define the problem
the information gathered by an outside marketing research firm is often more thorough and accurate than that collected by an in-house staff
researchers usually spend less time and money in gathering primary data compared to secondary data
secondary data has the advantage of being more completely relevant to the research than primary data
test marketing a new product is expensive and communicates company plans to competitors prior to its full scale introduction
quantitative forecasting methods rely on subjective data that reports opinions rather than exact historical data
Observation is a useful technique to collect primary data for marketers trying to understand how consumers behave in certain situations
________is an inventory management system in which the seller-in an existing agreement with a buyer-determines how much of a product is needed
the relationship marketing programs at the third level of the relationship marketing continuum usually aim to create
when partners in a strategic alliance form a new business unit in which each takes an ownership position, they have created a:
the main objective of internal marketing programs is to:
share resources with business partners
a marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities is called_______marketing
a_______ is a strategic relationship that extends entities but involves no direct buyer-seller interactions
a marketing program that enables satisfied customers to spread the word about products to other consumers is called_______marketing
______marketing is the development, growth, and maintenance of cost effective, high value associations with individual customers, suppliers and other partners over time
the term______ describes the turnover in a companies customer base
_____is the process of rejuvenating lost relationships with customers
which of the following variables of service quality best represents the service providers understanding of the customer needs?
the number of different products a firm sells is referred to as the ________of its product mix.
number of product lines the firm offers
variation in each product the firm markets in its mix
which of the following business products would be classified as an installation
underground mining loaders
a bundle of physical, service and symbolic attributes designed to satisfy a customers wants and needs is referred to as _______
natural resources, farm produce and lumber constitute ________
the term service_______refers to the point at which the customer and service provider interact
specialty products are
products with unique characteristics that cause the buyer to prize these brands
convenience products that customers constantly replenish to maintain a ready inventory are categorized as:
products marketed to consumers who may not yet recognize a need for them are called______
_____involves measuring quality by comparing performance against industry leaders
A one time reduction in list price typically offered at the time of sale is referred to as a
the payment to a channel member for performing marketing functions is called
_____pricing occurs when a company offers two or more complementary products and sells them for a single price
the price a consumer or marketing intermediary actually pays for a product after subtracting any discounts, allowances, or rebates from the list price is called _____price
penetration pricing works best for goods and services:
that are characterized by highly elastic demand
the price reduction offered to a customer, business user, or marketing intermediary in return for prompt payment of a bill is called a _____discount
____pricing is a pricing in which products are offered to consumers at less than cost to attract them to stores in the hope that they will buy other merchandise at regular prices
large scale enterprises often have a dilemma with setting the _____price, which is the price they charge themselves when sending goods from one company profit center to another
a_____pricing strategy helps manufacturers to distinguish their high end products from similar products of their competitors
a pricing policy that assumes that some prices are more appealing than others is known as _______pricing
the facilities plan estimates the firms employment needs and the skills necessary to achieve organizational goals
a firms marketers must write a marketing plan before formulating an overall marketing strategy
a marketing plan is a detailed description of the resources and actions needed to achieve stated marketing objectives
a marketing plan is not reevaluated once it is completely implemented
what part of a business plane describes strategies for informing potential customers about the goods and services offered by the firm as well as strategies for developing long term relationships
the marketing plan
why do marketers in most industries have difficulty making estimates and predictions beyond five years?
there are many uncertainties in the marketplace
which of the following is used to identify the firms strengths, weaknesses, opportunities and threats within the marketing environment?
a large company sells some of its business units to help cut costs, bolster its share price and diversify is business interest. this is an example of a firm employing a(n):
which of the following focuses on the environment in which the marketing plan is to be implemented
which of the following components of the marketing mix focuses on deciding the goods and services a firm should offer in order to meet the needs of its customers?
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