Marketing Unit#1

Which of the following is NOT one of the environmental forces shaping organizations?
Marketing mix
Often there are differing interests among groups internal and external to an organization. How should these be handled?
The organization should seek a balance among differing interests.
If you develop a desire for a product that does not exist yet in the marketplace, this would be considered an unsatisfied ,one of the conditions required for marketing to occur.
The marketing department shapes and is shaped by many external people, organizations, and forces. Which of the following are such groups, but would not be considered an environmental force?
-Shareholders
-Suppliers
Which of the following factors is not required for marketing to occur?
A retail location
For marketing to occur, there must be two or more parties with
unsatisfied needs
In order for marketing to occur, both parties involved must have which two of the following regarding their needs?
-The desire to satisfy a need
-The ability to satisfy a need
Which of the following represents a way buyers and sellers communicate so that marketing can occur for a magazine?
Seeing the magazine on display in the bookstore
You are purchasing a magazine. For marketing to occur, there will be an exchange which must include
Both the magazine and the money
Put the following business orientations in the correct historical order, with the oldest on the top and the newest on the bottom.
-Production Era
-Sales Era
-Marketing concept era
-Customer relationship era
The American Marketing Association states that, “Marketing is the activity for creating, communicating, delivering, and offerings that benefit the organization, its stakeholders, and society at large.”
exchanging
Match the marketing mix component with its corresponding definition.
-Price
-Promotion
-Place
-Product
-What is exchanged for the product
-A means of communication between seller and buyer
-A means of getting the product to the consumer
-A good, service, or idea to satisfy needs.
One of the core aspects of marketing, borrowed from economics, includes a(n) , which is a transaction in which things of value are traded between the buyer and seller
exchange
Who benefits from effective marketing?
-Society as a whole
-Organizations who sell
-Consumers who buy
_________ marketing links the organization to its customer, employees, suppliers, and other partners for mutual long-term benefits.
Relationship
Which of the following two principles are contained in the marketing concept?
-an organization should strive to satisfy the needs of consumers
-an organization should try to achieve its own goals.
The unique combination of benefits received by targeted buyers at a specific price is known as
Customer Value
Which two of the following are true of environmental forces?
-They are largely beyond the control of the marketer
-Social and economic forces are examples
_________ (one word) is the part of the marketing mix that communicates the value of the product to the consumer in many ways, such as advertising, social media, and public relations.
Promotion
To be in an organization’s market, it is not enough for a customer just to want a product because it would satisfy unmet needs; a customer must also have
The ability to buy, financially and otherwise
Match the following companies with the strategy they use to deliver value for their customers.
Home Depot — Best Service
Nike — Best Product
Walmart — Best Price
Which of the following is the most fundamental goal of marketing?
To satisfy consumer needs
The societal marketing concept combines which two of the following principles?
-Organizations should serve customers in a way that provides for society’s well-being.
-Organizations should satisfy the needs of consumers
People who use goods and services purchased for a household are known as
ultimate consumers
In addition to focusing on its financial profit responsibility, organizations are increasingly focusing on which of the following?
-ethics
-social responsibility
A target market is one or more specific groups of _________ consumers toward which an organization directs its marketing program.
Potential
________ (one word is the component of the marketing mix that provides a means of communication between a seller and a buyer.
Promotion
A _______ is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.
marketing program
Customer _______ reflects the relationship of benefits to price, or what you get for what you give.
value
which of the following is the most fundamental method an organization uses to discover consumer needs?
Marketing research
In the context of customer value, which of the following are considered benefits?
-quality
-after-sale service
-convenience
Which of the following might be exchanged when marketing occurs?
-information
-satisfaction
-intangible services
-money
The essence of successful marketing is that firms provide unique value in order to gain
-loyal customers
Organizations increasingly consider the social and ______ consequences of their actions for all parties
ethical
Consumers actually consider both_______
attributes of products, known as evaluative criteria, during the alternative evaluation stage of the purchase decision process.
objective and subjective
which of the following are problem-solving variations for consumer purchase decisions?
-Limited
-Routine
Put the five stages of the purchase decision process in the sequence in which they occur for high involvement purchases
1. problem recognition
2. information search
3. alternative evaluation
4. purchase decision
5.postpurchase behavior
______ is the energizing force that stimulates behavior to satisfy a need.
Motivation
which of the following are major categories of influence on the purchase decision process?
-sociocultural influences
-psychological influences
Information that is gathered about various products and brands in the information search stage must then be sorted out so that alternatives can be ______ in the next stage of the purchase decision process.
evaluated
Locating information from one’s own memory and knowledge si known as a(n) _________ search, whereas seeking outside sources of information is a(n) _______ search.
-internal
-external
The perception of a difference between a person’s ideal and actual situation is know as
problem recognition
Which two of the following are considered psychological influences on the purchase decision process?
-Learning
-Value, beliefs, and attitudes
A consumer will often turn to one of their formal or informal ________ (one word) groups for advice and guidance on acceptable beliefs, attitudes, and consumer behaviors. This group might be colleagues at work, team members on sports team, or a club in which they are a member.
reference
The process by which a firm attempts to have the consumer associate two ideas such as a drug and headache relief is called
cognitive learning
The sociocultural factors that influence consumer behavior include which of the following?
-reference groups and culture
-friends and family
Which two of the following are fundamental to brand loyalty?
-a consistent purchase behavior of single brand
-a favorable attitude toward a single brand
The final step in the purchase decision process is known as
postpurchase behavior
A learned predisposition to respond to an object or class of objects in a consistently favorable way is a(n) ________.
attitude
Consumer behavior includes which of the following?
-Processes before and after purchase and use
-actions related to the purchase and use of a product
-mental and social processes
A person’s consistent behavior or responses to recurring situations is called her
personality
extended, limited, and routine are variations of ______ for consumer decisions.
problem solving
What behavior does Beth show when she seem to know the exact location in the grocery store for every item on her shopping list?
learning
Worrying about the expense of a purchase, the possibility that it will harm you in some way, or that your friends will make fun of it are all examples of perceived
risk
When Time, Inc. publishes a kid’s version of its Sports Illustrated publication it is attempting influence today’s children to purchase SI when they become adults. This process is an example of
consumer socialization
De Beers advertises around the world with the message, “Diamonds are Forever,” appealing to women’s ________ needs for love and belonging.
social
Which of the following factors increase the depth and duration of a consumer’s information search?
-Little past experience and knowledge
-Low cost of gathering information
-High risk involved with making a wrong decision
Psychographics is considered to be a measure of consumers’
lifestyles
Which two of the following are the variables with which the VALS system categorizes buyers?
-Their primary motivation for buying and having products
-Their resources
The consumer’s __________ set is the group of brands that a consumer would consider acceptable among all the brands of which he is aware.
consideration
A process that is a repeated cycle of “drive, cue, response, and reinforcement.” is called
behavioral learning
New Products in a low-involvement product category should focus on which of these strategies?
-Encouraging trial of the brand with samples and coupons
-breaking buying habits
The influencing of people during conversation, in either positive or negative ways, is called
word of mouth
Ben’s parents’ _______ changed dramatically when ben graduated from college, got a job and moved into his own apartment.
stage of the family life cycle
A high-involvement purchase will typically have which characteristics?
-requires extensive external search
-is typically for products that could reflect on one’s social image
After her purchase of a car, Mariah experienced cognitive _______ as she agonized over whether or not she made the right choice.
dissonance
Which of the following occurs during the postpurchase behavior stage of the purchase decision process?
-Feeling satisfied or dissatisfied
-comparing a product to one’s expectations
-having cognitive dissonance
a buyer is most likely to skip some stages of the purchase decision process when he is buying what type of good or service?
-Low-priced, frequently purchased products