Marketing 3000 Midterm

Term
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Ch: 1. Marketers provide value to the consumer and other stakeholders by doing all of these with their offerings except which?
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Terms in this set (20)
Ch: 1. Marketers provide value to the consumer and other stakeholders by doing all of these with their offerings except which?
Humanizing
Ch: 1. The goal of marketing is to both _____ the needs of prospective customers
Discover and Satisfy
Ch: 1. Orbitwheels are a cross between a skateboard and pair of inline skates. Riders insert each foot in a large wheel that rotates sideways. Orbitwheels differ from a skateboard in that they are self-propelled by the rider's wave-like motion so the need to push off the ground every few feet to get moving is eliminated. The product has been popular among some kids, especially athletic teen boys. Athletic teen boys could be described as the ________ for Orbitwheels.
Target market
Ch: 1. The Four Ps of the marketing mix include product, price, place, and
Promotion
Ch: 1. The uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory conditions are referred to as
Environmental Forces
Ch: 1. Market segments are homogeneous in two ways: prospective buyers will respond similarly to marketing action and they
Have common needs
Ch: 1. Customer relationship management (CRM) is the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that
Buyers will choose them and become advocates
Ch: 1. Trader Joe's doesn't authorize or sell its products online. According to a company spokesperson, "The store is our brand and our products work best when they're sold as part of the overall ________ within the store."
Customer Experience
Ch: 1. Social responsibility refers to
The belief that organizations are accountable to a larger society for their actions
Ch: 1. The Air Force is slated to purchase 113 HH-60W aircraft from Lockheed Martin to replace its fleet of HH-60G Pave Hawk helicopters, which perform missions locating and rescuing downed pilots in hostile territory. Here, the Air Force is considered
An organizational buyer
Ch: 2. The marketing department is considered part of which organizational level?Functional levelCh: 2. A visionary organization must set a direction, which describes itsGoalsCh: 2. The outdoor brand The North Face intends to capture some of its competitors' business in Europe in the next few years, even amid the stagnant economic conditions there. The firm cites the active lifestyles there and the relatively low cost of entry for its backpacking and hiking sports gear, which attracts those planning a low-budget "staycation." The North Face most likely has a __________ goal.Market shareCh: 2. A __________ is a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.Competitive advantageCh: 2. Each display in a marketing dashboard shows a ________, which is a measure of the quantitative value or trend of a marketing action or result.Marketing metricCh: 2. In BCG's business portfolio analysis, __________ may need extra cash to finance their own rapid future growth, but when their growth slows they are likely to become cash cows.StarsCh: 2. When its beer sales were flat, Budweiser became interested in entering the premixed cocktail segment by providing a product that would appeal to those who don't enjoy traditional beer. It launched Bud Light Lime-A-Rita, a margarita-flavored, beer-based cocktail, sold in cans and bottles and best served over ice. This is an example ofDiversificationCh: 2. After the planning and implementation phases of the strategic marketing process is a phase known asEvaluationCh: 2. Market-product focus, customer value proposition, and goal setting in planning phase of the strategic marketing process includes which of the following?Market segmentationCh: 2. An important __________ for Medtronic's Micra pacemaker is its unmatched small size, about the size of a vitamin capsule, which allows it to be implanted directly into the heart without invasive surgery or the need for electrical leads.Point of difference