Ch 10

Question 1

Any paid form of communication through mass media directed at identified consumers to provide information and influence their actions

Answer 1

advertising

Question 2

exchange of information so there is common understanding by all participants

Answer 2

effective communication

Question 3

specific group of consumers that have similar wants and needs

Answer 3

target market

Question 4

locations and methods used to make a product or service available to the target market

Answer 4

distribution

Question 5

blending of marketing elements

Answer 5

marketing mix

Question 6

process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives

Answer 6

marketing

Question 7

route a product follows and the businesses involved in moving a product from the producer to final consumer

Answer 7

channels of distribution

Question 8

a company’s plan that identifies how it will use marketing to achieve its goals

Answer 8

marketing strategy

Question 9

reasons consumers decide what products and services to purchase

Answer 9

buying motives

Question 10

direct individualized communication with prospective customers to assess their needs and assist them in satisfying those needs with appropriate products and services

Answer 10

personal selling

Question 11

any form of communication used to inform, persuade, or remind

Answer 11

promotion

Question 12

money a customer must pay for a product or service

Answer 12

price

Question 13

considers needs of consumers when developing marketing mix

Answer 13

marketing orientation

Question 14

persons who buy/consume products/services

Answer 14

final consumers

Question 15

persons, companies who buy products/services to operate their business

Answer 15

business consumers

Question 16

steps to make a purchase decision

Answer 16

consumer decision making process

Question 17

gather new info specifically directed at a current problem

Answer 17

primary research

Question 18

existing info gathered for another purpose used to solve a current problem

Answer 18

secondary research

Question 19

small # of consumers–group discussion

Answer 19

focus group

Question 20

no physical form

Answer 20

intangible

Question 21

consumed at same time as produced

Answer 21

inseparable

Question 22

availability matches demand; can’t be stored for later

Answer 22

perishable

Question 23

differences in type and quality of services provided

Answer 23

heterogeneous

Question 24

amount added to cost of product to set selling price

Answer 24

markup

Question 25

reduction in original selling price

Answer 25

markdown

Question 26

difference between selling price and product costs

Answer 26

gross margin

Question 27

businesses that take part in channel of distribution

Answer 27

channel members