Marketing Midterm 1

21 January 2023
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40 test answers

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Production scheduling
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Marketing involves all of the following except ?
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Trading things of value
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When referring to "exchange" marketers are focused on ?
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Controllable
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The four P's make up the marketing mix which is the ____________ set of activities that the firm used to respond to the wants and needs of its target markets
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Create value
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The FUNDAMENTAL goal of marketers when creating goods, services, or combinations of both it to ?
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Managing the supply chain
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The marketing goal of getting the right quantities to the right locations at the right time relates to ?
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Perceived customer benefits with the cost of their offerings
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Marketers involved in value oriented marketing are constantly balancing?
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Promotion
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_____________ is the communication by a marketer that informs, persuades or reminds potential customers about a product
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Consumers
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The centerpiece of the marketing environment analysis framework is ?
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Competition
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A firms MACROENVIRONMENT includes all of the following EXCEPT ?
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This generation varies the most in age, ranging from teenagers to adults with their own families
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Select the statement that best describes the key traits of Generation Y?
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The firm itself
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In the immediate marketing environment THE FIRST FACTOR that affects the consumer is ?
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Culture
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The shared meanings, beliefs, values , and customs of a group of people constitute their
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Language differences
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Typical demographic data includes all of the following EXCEPT?
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Generation Z
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Marketers wanting to use social media to reach consumers should understand that ____________ we're born into a world that was already full of electronics gadgets and digital technology such as internet and social media
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Hispanics
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Population estimates show that by the year 2050 nearly 30 percent of the population in the United States will come from which group ?
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Useful predictions of purchase behavior
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For some products marketers can combine education level with other data like occupation and income to obtain ?
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Spend their disposable income differently
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Marketers know that compared to high school graduates who are working full time college students ?
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Gender roles have been blurred in the past several years
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Which of the following is true regarding modern gender roles
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Approximately 80% of all population growth in the next 20 years is expected from minority groups
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Marketers in the United States are paying increasing attention to ethnic groups bc ?
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The steps that consumers go through before during and after making purchases
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The consumer decision process model represents?
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Consumer recognizes an unsatisfied need
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The consumer buying process begins when a ?
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Functional and psychological needs that best appeals to the firms target markets
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A key to successful marketing is determining how to meet the correct balance of ?
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Evaluation of alternatives
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Consumers consider universal, retrieval and evokes sets during which stage of the consumer decision process ?
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Evoked sets
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Marketers particularly want their brands and products to be in consumers ?
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It invokes actual rather than potential customers
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Marketers are particularly interested in post purchase behavior because ?
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Expensive, infrequently purchased, and associated with high levels of risk
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Post purchase cognitive dissonance is especially likely for products that are ?
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Retain loyal customers
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Marketers frequently design customer relationship management programs to ?
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Situational
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The traditional marketing strategy of selling umbrellas when it's raining is an example of how _______ factors influence consumers decisions
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Identify and evaluate opportunities by conducting segmentation, targeting, and positioning analysis
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Sally is the new marketing dept of a midsize spawn and garden company. She is working on the first marketing plan the firm had ever used. She had defined the mission and objectives and she just finished a situation analysis for the firm. The next step is to ?
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Part of a firms marketing strategy
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Segmentation, targeting, and positioning are ?
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Produce a list of strengths and weaknesses of the firms past marketing strategies
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The FIRST STEP in the stp process is to ?
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Lower overall risk
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One of the benefits of a differentiated targeting strategy is that it allow the firm to diversify its business and ?
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Micromarketing
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__________ is an extreme form of a target strategy
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Concentrated
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Four frequently used targeting strategies are the micromarketing , undifferentiated, differentiated and ___________ target strategies
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GEOgraphic segmentation
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Differences in weather and climate create opportunities for ?
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DEMographic segmentation
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__________ is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach
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Describe themselves
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Psychographics is the segmentation method that delves into how consumers ____?
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Providing classes at convenient times and offering online courses
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A university using benefit segmentation and targeting students who want to get a degree quickly while working full-time what most likely focus on?
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GEO-DEMOgraphic segmentation
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The phrase"birds of a feather flock together " captures the idea of ________?
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The high cost of finding new customers
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One of the reasons marketers use loyalty segmentation is ____?