Marketing

Question 1

______ reflects an organization’s philosophy in how it facilitates the exchange of the organization’s services and products with customers for money.

Answer 1

Marketing

Question 2

Marketing is a process that includes what 3 things?

Answer 2

• Planning
• Design and development of services and products
• Sales

Question 3

What are 2 marketing philosophies?

Answer 3

• selling orientation

- market orientation

Question 4

According to the selling orientation philosophy what should marketing efforts be directed towards?

Answer 4

selling what the organization has to anyone likely to make the purchase

Question 5

According to the market orientation philosophy what should marketing efforts be directed towards?

Answer 5

creating new customers and retaining existing customers

Question 6

Market orientation is ______ specific

Answer 6

customer

Question 7

What does operating under a market orientation philosophy require?

Answer 7

Identifying a target market

Question 8

Because no service can meet everyone’s needs the segment most in need of the service is identified through what?

Answer 8

environmental scanning

Question 9

What are 5 characteristics for segmenting the potential market for a specific service?

Answer 9

• Age
• Geography
• Lifestyle
• Purchasing habits
• Social class

Question 10

What is an advantage of market segmentation?

Answer 10

Allows for the alignment of the organization’s efforts toward the meeting of unique needs and characteristics of the most favorable market segment(s)

Question 11

What is a niche market?

Answer 11

A very specific target market with a limited number of potential customers

Question 12

What does marketing positioning refer to?

Answer 12

The philosophical positions that an organization can pursue. Each involves decisions concerning how an organization wishes to be perceived by its qualified target markets

Question 13

What are the 3 options for achieving a market position?

Answer 13

• market leader
• innovator
• customer-centric

Question 14

Describe the market leader option for achieving a market position

Answer 14

reputation will allow the organization to be perceived as a resource for the most advanced and effective treatment techniques

Question 15

Describe the innovator option for achieving a market position

Answer 15

orientation will allow the organization to develop both a quality and leadership reputation in the community

Question 16

Describe the customer-centric option for achieving a market position

Answer 16

focuses the efforts of the organization on the humanistic and caring aspects of products rather than arrogant self-serving pushing products on customers

Question 17

What are 2 reasons why an organization needs to market?

Answer 17

1) growth

2) retention (keep existing and past customers)

Question 18

What are the 7 elements that can be used to formulate how a service is presented?

Answer 18

• Product/service (benefit)
• Price (value)
• Place (delivery environment)
• Promotion (attract attention)
• Physical Evidence (quality)
• Processes (efficiency)
• People (expertise/personalities)

Question 19

What does the marketing mix refer to?

Answer 19

the combination of ways businesses choose to present themselves and their offerings to customers

Question 20

All businesses utilize what 4 P’s to accomplish the marketing mix?

Answer 20

• Product/service (benefit[s])
• Price (value)
• Place (delivery environment)
• Promotion (attract attention)

Question 21

What does the product or service include?

Answer 21

The special characteristics of what is being offered for sale such as:

• image
• how it is presented
• features
• name brands

Question 22

What are 3 pricing approaches?

Answer 22

• Cost-based pricing
• Competition-based pricing
• Demand-based pricing

Question 23

Describe cost-based pricing

Answer 23

Prices are set relative to costs

Question 24

Describe competition-based pricing

Answer 24

Prices are set in relation to those of competitors

Question 25

Describe demand-based pricing

Answer 25

Prices are set high based on the concept that high price = high quality Aka prestige pricing

Question 26

What are 4 qualities to be taken into consideration in regards to the "place"?

Answer 26

- Accessibility - Décor - Hours of operation - Service location

Question 27

What does promotion include?

Answer 27

The various methods used to inform the public about the service and to sell it

Question 28

What 3 groups are targeted through the promotion process?

Answer 28

- Current target market - New targeted market - Previous customers

Question 29

What is the most effective form of marketing promotion?

Answer 29

word of mouth

Question 30

The combination of communication tools used for promotion is known as the communication ___.

Answer 30

mix

Question 31

Promotional tools include what 4 things?

Answer 31

- advertising - direct marketing - personal selling - public relations

Question 32

What are the additional 3 P's that are included in the health are service quandary?

Answer 32

- Physical Evidence - Process - People

Question 33

Customers can physically infer quality and effectiveness by observing what 2 things?

Answer 33

- Clarity and accuracy of pretreatment communications - Occurrences at the business location and in the clinic such as age and condition of equipment, staff interactions, and how other customers are treated

Question 34

What do processes refer to?

Answer 34

the way business activities flow and are coordinated

Question 35

Marketing is ongoing. What is this ebb and flow called?

Answer 35

the lifecycle of services and products

Question 36

What are the 4 phases of the marketing continuum?

Answer 36

- introduction - growth - maturity - decline

Question 37

During the introduction phase sales are ___, expenses are ____, and there are financial _____.

Answer 37

low high losses

Question 38

In order to eventually improve the picture associated with the introduction phase what is required?

Answer 38

a heavy financial investment in promotion activities

Question 39

During the growth stage profits and sales increase rapidly which is likely to attract competition. At this time the business has 2 marketing options, what are they?

Answer 39

- do nothing | - reinvest profits into substantial marketing efforts

Question 40

What is the marketing option during the maturation stage?

Answer 40

do nothing more because there is already high volume and profit with little additional investment in promotion

Question 41

What is the marketing option during the decline stage?

Answer 41

Terminate support