Term
| which of the following statements about marketing is most accurate? |
|
Definition
|
|
Term
| _____ of all new businesses fail within five years of their launch. |
|
Definition
|
|
Term
|
Definition
|
|
Term
| The combined American Marketing Association’s 2004/2007 definitions of marketing used in the textbook defines marketing as |
|
Definition
|
|
Term
The common factor among an organization’s chairman of the board, stockholders, suppliers,
laborers, customers, and society at large is that |
|
Definition
|
|
Term
| To serve both buyers and sellers, marketing seeks to __________ and satisfy the needs and wants of prospective customers. |
|
Definition
|
|
Term
| To serve both buyers and sellers, marketing seeks to discover and __________ the needs and wants of prospective customers. |
|
Definition
|
|
Term
| Whether an individual is buying for personal or household use, or an organization is buying for its own use or for resale, the individual or organization would be considered |
|
Definition
|
|
Term
A student wants to buy a smartphone so she can share pictures with her friends. An insurance
claims adjuster wants to buy a smartphone to document accidents (take pictures, write a report,
etc.). If they both purchase the same model smartphone, such as an iPhone 4S, which statement
is most accurate? |
|
Definition
|
|
Term
| Marketing seeks to discover the needs and wants of prospective customers and satisfy them. Essential to this process is the idea of exchange, which refers to |
|
Definition
|
|
Term
| The American Red Cross created a series of advertisements to encourage people to donate blood. After viewing an ad, Amanda went to the local Red Cross office and donated a pint of her blood. Amanda returned home feeling happy that she had performed a good deed. Was this an exchange in a marketing sense? |
|
Definition
|
|
Term
| The __________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization’s customers, shareholders, suppliers, and other organizations. |
|
Definition
|
|
Term
| Which of the following statements about marketing departments is most accurate? |
|
Definition
|
|
Term
| All of the following are environmental forces EXCEPT |
|
Definition
|
|
Term
Four factors are required for marketing to occur: (1) __________; (2) a desire and ability on their
part to be satisfied; (3) a way for the parties to communicate; and (4) something to exchange. |
|
Definition
|
|
Term
| A business student is preparing for the Graduate Management Admission Test (GMAT) so he can get into a good graduate business school. He knows that any money he spends on a tutor will be well worth it if he can improve his scores. He’s heard that there is a great tutor in his local community but has no idea who she is. What is the next logical step in order for marketing to occur? |
|
Definition
|
|
Term
| The Arizona Biltmore in Phoenix is next to the Biltmore Fashion Park, a large shopping mall located less than a mile away. The hotel wants to promote its proximity to the shopping center as well as its many other amenities to convention-goers from other states. Which of the following would MOST LIKELY help The Arizona Biltmore communicate with potential convention attendees? |
|
Definition
|
|
Term
| The two central concerns of marketing are __________. |
|
Definition
|
|
Term
| If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer, such as Colgate, when launching a new consumer product, such as toothpaste? |
|
Definition
|
|
Term
| A __________ occurs when a person feels deprived of basic necessities such as food, clothing, and shelter. |
|
Definition
|
|
Term
| A __________ is a need that is shaped by a person’s knowledge, culture, and personality. |
|
Definition
|
|
Term
| A television advertisement shows several teenagers searching through the refrigerator for something to quench their thirst. The refrigerator offers the youngsters many alternatives—soft drinks, fruit drinks, sport drinks, and bottles of Sunny Delight drink. The ad, which shows the teens happily selecting Sunny Delight over all the other beverages, appeals to the consumers’ __________ for liquid refreshment to quench their thirst and attempts to shape their __________ for the advertised product. |
|
Definition
|
|
Term
| In a marketing context, a market refers to |
|
Definition
|
|
Term
| A target market refers to |
|
Definition
|
|
Term
Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small
slices of meat, and small slices of cheese. Some items in the product line contain Capri Sun
drinks, water, or a small portion of Dole fruit. The box is bright yellow and the quantity of food
contained within it is small. The target market for Kraft Lunchables is MOST LIKELY: |
|
Definition
|
|
Term
| The marketing manager’s controllable factors—product, price, promotion, and place—that can be used to solve a marketing problem are referred to as the __________. |
|
Definition
|
|
Term
| The four Ps are commonly known as |
|
Definition
|
|
Term
| The marketing mix refers to |
|
Definition
|
|
Term
| The four Ps of the marketing mix are |
|
Definition
|
|
Term
Jakubowski Farms Gourmet Bread Base is the brand name for a mix designed for use in bread
machines. The mixes are sold in 2-pound canisters for $14.99 plus postage. The products are
only available through the mail. People learn about the product through word-of-mouth and
bread machine demonstrations the company’s founder gives to groups in Wisconsin where she
lives. This is a description of the company’s |
|
Definition
|
|
Term
| Which element of the marketing mix is demonstrated when Mars, Inc. has a sale on M&Ms® brand candies? |
|
Definition
|
|
Term
| The element of the marketing mix that describes a means of communication between the seller and buyer is known as |
|
Definition
|
|
Term
| The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market. Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine. |
|
Definition
|
|
Term
| The __________ element of the marketing mix is demonstrated when a newspaper carrier throws a paper on the front porch |
|
Definition
|
|
Term
| The cluster of benefits that an organization promises customers to satisfy their needs is referred to as a(n) __________. |
|
Definition
|
|
Term
| Which of the following statements about environmental forces is most accurate? |
|
Definition
|
|
Term
| Which of the following statements describes an environmental force? |
|
Definition
|
|
Term
| With today’s smartphones, you can watch the news, shoot videos, browse the Internet, take pictures, and listen to music. And more and improved new features are added with each new smartphone introduced from Apple, Samsung, BlackBerry, etc. As a result, consumers may want to replace their existing smartphones with new models or brands. This increase in demand is due in part to changes in ___________, an environmental force. |
|
Definition
|
|
Term
| Walmart, Southwest Airlines, and Costco all have been successful by offering consumers the best |
|
Definition
|
|
Term
| Relationship marketing refers to |
|
Definition
|
|
Term
| Which of the following statements about relationship marketing is most accurate? |
|
Definition
|
|
Term
| A business traveler joined the Starwood Preferred Guest Program in order to earn points each time he stayed overnight in a Westin or Sheraton hotel. Once he has accumulated enough points, he can trade his points in for a free night’s stay. As a member of this program, the traveler receives periodic updates on new hotels and learns of ways to earn additional points. The marketing term that best describes this scenario is |
|
Definition
|
|
Term
After an assessment of needs, a marketing manager must translate ideas from consumers into
concepts for products that a firm may develop. The concepts must then be converted into a
tangible |
|
Definition
|
|
Term
| The idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization’s goals reflects the |
|
Definition
|
|
Term
| In 1952, General Electric’s annual report stated, “The concept introduces...marketing...at the beginning rather than the end of the production cycle and integrates marketing into each phase of the business.” This is a brief statement of what has come to be known as the |
|
Definition
|
|
Term
| A market orientation refers to |
|
Definition
|
|
Term
| With respect to the history of American business, the __________ era started in the 1980s in which firms seek continuously to satisfy the high expectations of customers. |
|
Definition
|
|
Term
| Customer relationship management refers to |
|
Definition
|
|
Term
| The United Way of Greater Toronto (UWGT), like many charities, was sitting on a gold mine of donor data. Unfortunately, UWGT was not certain how to use that information to its greatest advantage. UWGT could blanket past donors with generic mailings, but it could not offer donors information that would convince them to donate to UWGT over other charities. Which of the following tools would be most useful for the nonprofit organization to use? |
|
Definition
|
|
Term
| The internal response that customers have to all aspects of an organization and its offerings is referred to as __________. |
|
Definition
|
|
Term
|
Definition
|
|
Term
| What kinds of organizations engage in marketing? |
|
Definition
|
|
Term
| Which of the following organizations engage in marketing? |
|
Definition
|
|
Term
| Which of the following statements best describes a good? |
|
Definition
|
|
Term
|
Definition
|
|
Term
| Which answer reflects (in order) a good, a service, and an idea that can be marketed? |
|
Definition
|
|
Term
| Which of the following is an example of an ultimate consumer? |
|
Definition
|
|
Term
| Units such as manufacturers, retailers, and government agencies that buy goods and services for their own use or for resale are referred to as |
|
Definition
|
|
Term
| Effective marketing benefits society because it |
|
Definition
|
|
Term
| The process of turning corn into ethanol shows how BioFuel Energy, a Minnesota ethanol producer, can create __________ utility. |
|
Definition
|
|
Term
| The value to consumers that comes from having the offering available where consumers need it constitutes __________ utility. |
|
Definition
|
|
Term
| The value to consumers that comes from having the offering available when they need it constitutes __________ utility |
|
Definition
|
|
Term
| What is the abridged American Marketing Association definition of marketing according to the textbook? How does this differ from you previous notion of marketing before reading this chapter? |
|
Definition
|
|
Term
| What are the two key objectives of marketing? Define “exchange” and explain how it supports these objectives. |
|
Definition
|
|
Term
| What four factors are required for marketing to occur? |
|
Definition
|
|
Term
| Marketing managers used a combination of four tools in order to develop a complete marketing program to reach consumers. Briefly define these four tools. |
|
Definition
|
|
Term
| Imagine you have the sole marketing rights to a new herbal shampoo that stops hair loss and actually causes new hair growth. You plan to sell your product on an Internet website, which you will advertise on late night television. You are also hoping to obtain free publicity to place stories in men’s fashion magazines. You are planning to sell online a 15-ounce bottle for $24.99 plus $7.99 shipping and handling. Using the information provided, identify each element of your marketing mix. |
|
Definition
|
|
Term
| Do college students have a choice in which classes they take to earn a degree? Use what you have learned about the controllable and uncontrollable aspects of marketing in terms of how they might relate to course selection decision-making. Incorporate marketing terms in your response. |
|
Definition
|
|
Term
| Define the marketing concept. |
|
Definition
|
|
Term
| What is the difference between micromarketing and macromarketing? |
|
Definition
|
|
Term
| [image]"A" represents which era? "D?" |
|
Definition
|
|
