Chapter 7 Flashcards
Entrepreneurs should based their market assessments, production schedules, inventory policies, and personnel decision on :
The sales forecast
Joel recently opened a neighborhood grocery. He chats briefly with each customer, carefully bags or boxed their purchases, and offers to load them into the customers cars. Joel’s has learned that
A business provides a bundle of satisfaction to its customers, not just product they have bought
Meredith is opening a high end shoe store specializing in designer shoes. Which approach is probably the wisest strategy for the marketing efforts of this company?
Multi-segment started since she could concentrate on persons wanting shorts for different reasons
A _____ estimates how much of a product and/ or service will be purchased within a market over a defined period of time
Sales forecast
Nardella has completed her market research but now feels overwhelmed by the large amount of data. It might be helpful to her to
Use a program like excel to help her interpret data
Adopting a consumer- oriented marketing philosophy is most consistent with:
Eventually achieving long-term market success
Shiloh has begun the sales forecasting procedure with a variable that has a very large scope and then systematically is working down to the sales forecast. Shiloh is using the
Breakdown process
The initial step in the marketing research process is to
Identify informational needs
The _______ marketing philosophy is the preferred approach for all business
Consumer-oriented
Koldpak has focused principally on the development of revolutionary new ways of containerizing fresh produce for grocery stores. The firms marketing philosophy is
Production-oriented
Brenda is creating the marketing plan for her bakery. Many of the recipes she will use were handed down through her family and she would like to keep them secret. These recipes will be considered:
Intellectual property
