Chapter 11

Question 0

Establishing long term mutually satisfying buyer seller relationships

Answer 0

Relationship marketing

Question 1

The activity, set of institutions, and processes for creating communicating, delivering and exchanging offerings that have value for clarinets, clients, and society at large

Answer 1

Marketing

Question 2

Using information about customers to create marketing strategies that develop and sustain desirable customer relationships

Answer 2

CRM

Customer relationship management

Question 3

Measure of a customers worth to a business over ones lifetime
(Sales minus cost)

Answer 3

Costumer lifetime value

Question 4

The ability of a good or a service to satisfy a human need

Answer 4

Utility

Question 5

Utility created by converting production imputs into finished products

Answer 5

Form utility

Question 6

Utility by making products available at a location where customers wish to purchase it

Answer 6

Place utility

Question 7

Utility created by making a product available when customers wish to purchase it

Answer 7

Time utility

Question 8

Utility created by transferring title of a product to a buyer

Answer 8

Possession utility

Question 9

A business philosophy that a firm should provide goods and services that satisfy customers needs through a coordinated set of activities that allow the firm to achieve its objectives

Answer 9

Market concept

Question 10

A group of individuals or organizations or both that need products in a given category and have the ability and willingness and authority to purchase them

Answer 10

Market

Question 11

A plan that will enable an organization to make the Best use of it resources and advantages to meet its objectives

Answer 11

Marketing strategie

Question 12

A combination of product price distribution and promotion developed to satisfy a particular target market

Answer 12

Marketing mix

Question 13

A group of individuals or organizations or both for which a firm develops and maintains a marketing mix suitable for the specific needs and preferences of that group

Answer 13

Target market

Question 14

Directing the entire marketing mix at the entire market for a particular product

Answer 14

Undifferentiated approach

Question 15

A group of individuals or organizations within a market that share one or more common characteristics

Answer 15

Market segment

Question 16

The process of dividing a market into segments and directing a marketing mix at a particular segment or segments rather than at the total market

Answer 16

Market segmentation

Question 17

A wirtting document that specifies an organizations resources objectives strategie and Implementation and control efforts to be used in marketing a specific product or product group

Answer 17

Marketing plan

Question 18

An estimate of the amount of a product that an organization e expects To sell during a certain period of time based on a specific level of marketing effort

Answer 18

Sales forecast

Question 19

A system for managing marketing information that is gathered continually from internal and external sources

Answer 19

Marketing information system

Question 20

The process of systematically gathering recording and analyzing data concerning a particular marketing problem

Answer 20

Marketing research

Question 21

The decisions and actions of people involved in buying and using products

Answer 21

Buying behavior

Question 22

The purchasing of products for personal or household use not for business purposes

Answer 22

Consumer buying behavior

Question 23

The purchasing of products by producers resellers governmental units and institutions

Answer 23

Business buying behavior

Question 24

The income an individual receives from all sources less the social security taxes the individual must pay

Answer 24

Personal income

Question 25

Personal income less all additional personal taxes

Answer 25

Disposable income

Question 26

Disposable income less savings and expenditures on food clothing and housing

Answer 26

Discretionary income

Question 27

Eight major marketing functions

Answer 27

``` Buying Selling Transporting Storing Financing Standardization Risk taking Gathering ```

Question 28

Marketing function that includes obtaining raw materials , knowing how much Merch. To have on hand and selecting suppliers.

Answer 28

Buying

Question 29

Marketing function that creates possession utility by transferring the title of a product from seller to costumer

Answer 29

Selling

Question 30

Marketing function that involves selecting a mode of transport that provides an acceptable delivery schedule at an acceptable price

Answer 30

Transporting

Question 31

Marketing function that may be necessary to sell goods at the best selling time

Answer 31

Storing

Question 32

Marketing function that helps at all stages of marketing.

Answer 32

Financing

Question 33

Marketing function that sets uniform specifications for products or services. Grading classifies products by size and quantity

Answer 33

Standardization

Question 34

Marketing function that is a constant reality of marketing because of the possibility of losses

Answer 34

Risk taking

Question 35

Marketing function that is bessisar u for making all marketing decisions

Answer 35

Gathering

Question 36

Consists of purchasers and or household members who intend to consume or benefit from the purchased products and who do not buy products to make profits

Answer 36

Consumer markets Markets and their classifications

Question 37

Are grouped broadly into producer reseller, governmental, and institutional categories

Answer 37

Business to business markets Markets and their classifications

Question 38

Four common bases for market segmentation

Answer 38

Demographic Psychographic Geographic Behavioristic