Term
|
Definition
| marketing management orientations focuses primarily on improving efficiencies along the supply chain |
|
|
Term
| a company should enter only segments in which it can |
|
Definition
| offer superior value and gain advantage over competitors. |
|
|
Term
|
Definition
| marketing management concepts is most closely aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer high quality, performance, and innovative features |
|
|
Term
| 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 segmenting? |
|
Definition
| Undifferentiated Marketing |
|
|
Term
|
Definition
| When New Port Shipping uses segmented marketing, it targets several segments and designs separate offers for each one |
|
|
Term
|
Definition
| 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 |
|
|
Term
|
Definition
| the total combined customer lifetime values of all the company's current and potential customers |
|
|
Term
|
Definition
| The use of short-term incentives to encourage the purchase or sale of a product or service |
|
|
Term
|
Definition
| Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called |
|
|
Term
|
Definition
| one of five major promotion tools that includes building up a positive corporate image and handling unfavorable stories and events |
|
|
Term
|
Definition
| NOT a major category in the promotion mix |
|
|
Term
|
Definition
| The promotion mix is the company's primary communication activity; the marketing mix must be coordinated for the greatest communication impact. What is NOT included in the entire marketing mix |
|
|
Term
| Today's consumers do not need to rely on marketer-supplied information about products and services because they can use (blank) to seek out a wealth of information |
|
Definition
| the internet and other sources |
|
|
Term
| Companies are doing less (blank) and more (blank) as a result of an explosion of more focused media that better match today's targeting strategies. |
|
Definition
| Broadcasting, Narrowcasting |
|
|
Term
|
Definition
| can be classified by primary purpose–whether the aim is to inform, persuade, or remind. |
|
|
Term
|
Definition
| used heavily when introducing a new product category. The objective is to build primary demand |
|
|
Term
|
Definition
| becomes more important as competition increases. The company's objective is to build selective demand |
|
|
Term
| Developing an effective message strategy begins with identifying (blank) that can be used as advertising appeals |
|
Definition
|
|
Term
|
Definition
| the most basic cause(s) of a person's wants and behavior. |
|
|
Term
| It is most accurate to say that marketers are always trying to spot (blank) in order to discover new products that might be wanted |
|
Definition
|
|
Term
|
Definition
| groups of people with shared value systems based on common life experiences and situations. |
|
|
Term
|
Definition
| society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors |
|
|
Term
| What is one way social class is not measured? |
|
Definition
| Number of Children in the Family |
|
|
Term
| Family is one of the (blank) factors that influence consumer behavior. |
|
Definition
|
|
Term
|
Definition
| groups to which an individual wishes to belong, as when a teenage basketball player hopes to play someday for the Los Angeles Lakers |
|
|
Term
|
Definition
| people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others |
|
|
Term
| What is the LEAST pressing in Maslow's Hierarchy of Needs? |
|
Definition
|
|
Term
|
Definition
| describes changes in an individual's behavior arising from experience. |
|
|
Term
| The buyer decision process consists of five stages. Which of the following is NOT one of these stages? |
|
Definition
| Variety-Seeking Buying Behavior |
|
|
Term
|
Definition
| The beginning of they buying process where the buyer recognizes a problem or need. |
|
|
Term
| If the consumer's drive is strong and a satisfying product is near at hand, the consumer is likely to buy it then. If not, the consumer may store the need in memory or undertake |
|
Definition
|
|
Term
| The information sources that are most effective at influencing a consumer's purchase decision are (blank). These sources legitimize or evaluate products for the buyer. |
|
Definition
|
|
Term
| Consumers learn about new products for the first time and make the decision to buy them during the |
|
Definition
|
|
Term
| Consumers can show their allegiance to brands, stores, or companies. Marketers can use this information to segment consumers by |
|
Definition
|
|
Term
| By studying its less loyal buyers, a company can detect which brands are most (blank) with its own. |
|
Definition
|
|
Term
| When a market segment is large or profitable enough to serve, it is termed |
|
Definition
|
|
Term
| When an effective program can be designed for attracting and serving a chosen segment, the segment is best described as |
|
Definition
|
|
Term
| The market segments your company is targeting are conceptually distinguishable and respond differently to different marketing mix elements and programs. Therefore, these segments are |
|
Definition
|
|
Term
| To evaluate the different market segments your company is serving, you would look at all of the following factors EXCEPT which one? |
|
Definition
| Company Values and Mission |
|
|
Term
| Which of the following was NOT a negative stereotype about Americans traveling abroad? |
|
Definition
|
|
Term
|
Definition
| anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need |
|
|
Term
|
Definition
| a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything |
|
|
Term
| Product is a key element in a company's (blank), which may, at one extreme, consist of pure tangible goods or, at the other extreme, pure services. |
|
Definition
|
|
Term
| Product planners consider products and services on three levels. The most basic level is the (blank), which addresses the question, "What is the buyer really buying?" |
|
Definition
|
|
Term
| The third level of a product that product planners consider is a(n) (blank) around the core benefit and actual product that offers additional consumer services and benefits. |
|
Definition
|
|
Term
| Products and services fall into two broad classifications based on the types of consumers that use them. Which of the following is one of these broad classes? |
|
Definition
|
|
Term
|
Definition
| products and services bought by final consumers for personal consumption. These include convenience products, shopping products, specialty products, and unsought products. |
|
|
Term
|
Definition
| are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style. Consumers spend much time and effort in gathering information and making comparisons about these products. |
|
|
Term
|
Definition
| consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. |
|
|
Term
|
Definition
| consumer products that the consumer either does not know about or knows about but does not normally think about buying. These products require a lot of advertising, personal selling, and other marketing efforts. |
|
|
Term
|
Definition
| a name, term, sign, symbol, design, or a combination of these, that identifies that maker or seller of a product or service |
|
|
Term
|
Definition
| a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges. |
|
|
Term
|
Definition
| consists of all the product lines and items that a particular seller offers for sale. |
|
|
Term
| Product mix (blank) refers to the number of different product lines the company carries. Procter & Gamble markets 250 brands organized into many product lines. |
|
Definition
|
|
Term
| Price is the only element in the marketing mix that produces |
|
Definition
|
|
Term
| Consumer perceptions of the product's value set the (blank) for prices. |
|
Definition
|
|
Term
| Product costs set a(n)(floor) to a product's price |
|
Definition
|
|
Term
|
Definition
| the market consists of many buyers and sellers trading in a uniform commodity such as wheat, copper, or financial securities. |
|
|
Term
|
Definition
| the market consists of many buyers and sellers who trade over a range of prices rather than a single market price |
|
|
Term
| Oligopolistic Competition |
|
Definition
| the market consists of a few sellers who are highly sensitive to each other's pricing and marketing strategies |
|
|
Term
| In many industries, traditional intermediaries are dropping by the wayside because of changes in (blank) and the growth of (blank) marketing. |
|
Definition
| Technology, Direct and Online |
|
|
Term
| Through the use of (blank), or "smart tag" technology, a company is able to locate exactly where a product is within the supply chain. |
|
Definition
|
|
Term
| Producers benefit from using intermediaries because they... |
|
Definition
| Offer greater efficiency in making goods available to target markets |
|
|
Term
| Marketing logistics involves getting the right product to the right customer in the right place at the right time. Which one of the following is NOT included in this process? |
|
Definition
| Gathering Customer’s Ideas for new Products |
|
|
Term
| Which of the following transportation modes is used for digital products? |
|
Definition
|
|
Term
| Companies manage their supply chains through |
|
Definition
|
|
Term
| Today, a growing number of firms now outsource some or all of their logistics to |
|
Definition
| Third-Party Logistics Providers |
|
|
Term
| Market-Penetration Pricing |
|
Definition
| the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share. |
|
|
Term
| All of the following conditions support market-penetration pricing EXCEPT which one? |
|
Definition
| The product’s quality and image must support the price |
|
|
Term
| By definition, this type of pricing is used when a firm sells a product or service at two or more prices, even though the difference in price is not based on differences in cost |
|
Definition
|
|
Term
| Customer-Segmented Pricing |
|
Definition
| The New Age Gallery has different admission prices for students, adults, and seniors. All three groups are entitled to the same services. |
|
|
Term
| When a firm varies its price by the season, month, day, or even hour, it is using (blank) pricing |
|
Definition
|
|
Term
| Members of a company's (blank) conduct business from their offices through the telephone, the Internet, or visits from customers |
|
Definition
|
|
Term
| Which of the following is the growing trend of using a group of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts? |
|
Definition
|
|
Term
| According to research conducted by Gallup Management Consulting Group, which of the following is one of the four key talents a successful salesperson should possess? |
|
Definition
| Intrinsic Motivation, Disciplined Work Style, Ability to Close Sales, Build Relationships with Customers |
|
|
Term
| Sales applicants are LEAST likely to be tested for |
|
Definition
|
|
Term
| Which of the following is NOT one of the four basic types of compensation plans? |
|
Definition
|
|
Term
| Management sets standards that state the amount each salesperson should sell and how sales should be divided among the company's products with |
|
Definition
|
|
Term
| A salesperson's (blank) is often related to how well he or she meets a set quota. |
|
Definition
|
|
Term
| Prospecting is the step in the selling process in which the salesperson |
|
Definition
| Identifies and Qualifies the Prospects |
|
|
Term
|
Definition
| The step that follows approach in the selling process |
|
|
Term
|
Definition
| step of the selling process is difficult for some salespeople because they lack confidence, feel guilty about asking for an order, or may not recognize the right time to ask for an order. |
|
|
Term
| In the Golden Circle model, what did the smallest circle represent? |
|
Definition
|
|
Term
| In the Golden Circle model, what did the medium-sized circle represent? |
|
Definition
|
|
Term
| What is the name of the guy who started TOMS shoes? |
|
Definition
|
|
Term
| Which of the following phrases is included in the mission statement for Harley-Davidson? |
|
Definition
| We Ride With Our Customers |
|
|
