Marketing 1

Question 0

How do customers choose among the many marketing offers

Answer 0

They buy from the firm with the highest customer perceived value

Question 1

What are the five marketing management orientations?

Answer 1

Production product selling marketing and social marketing concepts

Question 2

What is involved with partner relationship management

Answer 2

Working with others to bring value to customer including linking all the departments partner with suppliers partners and outsiders and the supply chain

Question 3

What are the various categories of the customer relationship grid

Answer 3

Butterflies strangers true friends barnacles

Question 4

How his marketing become a major part of the strategies for not-for-profit organizations

Answer 4

Help attract memberships funds and support uses high-power marketing mixes social and marketing campaigns

Question 5

What is the Boston consulting group approach to portfolio planning

Answer 5

Star, Question, Cashcow, dog

Question 6

What is the product market expansion grid?

Answer 6

The portfolio planning tool for identifying growth opportunities through market penetration, market development, product development, or diversification.

Question 7

What constitutes the four Ps of the marketing mix?

Answer 7

The 4 Ps include product pricing placing and promotion. It Is everything the firm can do to influence demand of products

Question 8

How might the marketing department be organized?

Answer 8

Specialist, region, variety of products, variety of markets. Functional, geographic, product management, market/customer management, or combination.

Question 9

What variables comprise the companies microenvironment?

Answer 9

Company, suppliers, marketing intermediaries, competitors, publics

Question 10

What variables comprise the companies macroenvironment?

Answer 10

Demographic, economic, natural, technologies, political, cultural.

Question 11

How does the changing American family differ from increasing diversity in the US?

Answer 11

20% married with children, 29% married no children, 17% single parents, 34% nonfamily with no children. Changing America still deals with American values just different age groups and sex and marital status. Diversification deals with all of the above in a variety of different cultures

Question 12

How does the economic environment differ from the political environment?

Answer 12

Economic environment is more unpredictable and change. The political environment is more black-and-white.

Question 13

What major cultural values of the society are identified in the text?

Answer 13

Views of themselves, others, organizations, society, nature, and universe

Question 14

How does marketing intelligence differ from marketing research?

Answer 14

gathers to get bearings versus for specific product

Question 15

What are the three basic types of research objectives?

Answer 15

Exploratory, descriptive, casual

Question 16

What are some problems associated with survey research?

Answer 16

Unable to answer/can’t remember, biased, privacy, time

Question 17

What are the different types of samples marketing researchers might use?

Answer 17

Probability – simple, stratified, cluster. Nonprobability – convenience, judgment, quota.

Question 18

How can marketing research findings be misused?

Answer 18

Consumer privacy, Riggings

Question 19

What important subculture groups are discussed in the text?

Answer 19

Hispanic, African, Asian American, cross-cultural.

Question 20

Why are opinion leaders important to marketers?

Answer 20

When they are influential consumers listen

Question 21

How does Family influence buyer behavior?

Answer 21

Is the most important consumer buying organization and society

Question 22

What is Maslows theory of motivation?

Answer 22

Physiological, safety, social, self-esteem, self actualization.

Question 23

What are the four types of buying behavior?

Answer 23

Complex buying behavior, dissonance reducing buying, habitual buying, variety seeking buying.

Question 24

Where can the consumer obtain information?

Answer 24

Sources: personal, commercial, public, experiential.

Question 25

What is it meant by cognitive dissonance?

Answer 25

Buyer discomfort caused by Post purchase conflict.

Question 26

What are the five adopter categories?

Answer 26

Awareness – knows exists. Interests – inquiries. Evaluation – consider. Trial – trying period. Adoption – full and regular use of product.

Question 27

How do businesses markets differ from consumer markets?

Answer 27

Market structure and market demand where there are far fewer but larger buyers. Nature of buying, unit, types of decisions and decision process.

Question 28

What are the three major types of business buying situation?

Answer 28

Straight rebuy, modified rebuy, new task.

Question 29

Who are the participants and the business buying process?

Answer 29

Users, influencers, buyers, decider’s, gatekeepers.

Question 30

How can companies engage in E procurement?

Answer 30

Reverse auctions, trading exchanges, call buying sites, extranet links, social media.

Question 31

What are the various supplier complaints about Government buying?

Answer 31

National favoritism, excessive paperwork/bureaucracy/regulations/delays/share some personnel.

Question 32

What are the requirements for effective segmentation?

Answer 32

It must be measurable, accessible, sustainable, differentiable, actionable

Question 33

How my target marketing be implemented?

Answer 33

Broadly – undifferentiated. Nearly – micro. Between – differentiated or concentrated.

Question 34

What is meant by product positioning?

Answer 34

Way a product is defined by customers – product is in customers mind relative to competitive brands

Question 35

How many company gain competitive advantage?

Answer 35

Product, services, channels, people, or image.

Question 36

What are the five winning value propositions?

Answer 36

More for more, more for same, more for less, same for less, less for much less.