chp 11

Question 1

marketing

Answer 1

an organizational function and set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and shareholders

Question 2

how marketing creates utility

Answer 2

marketing creates the “want satisfying power” of goods and services by researching what will provide
- form
-time
-place
-ownership utility

Question 3

non traditional marketing

Answer 3

person, place, event, cause nad organization marketing are examples marketing efforts that go beyond traditions

Question 4

marketing strategy

Answer 4

two steps process that begins with the study analysis of potential targets markets. the second step is the creation of a marketing mix to satisfy the chosen market

Question 5

marketing mix

Answer 5

a blending of the four elements of marketing strategy products, distribution, promotion, and pricing to satisfy chosen customers

Question 6

applying marketing research

Answer 6

includes business intelligence, which uses various activities and technologies to gather, store and analyze data to make better competitive decisions

Question 7

segmenting consumer markets

Answer 7

-geographical
demographic
psychographic
product related segmentation

Question 8

Segmenting business markets

Answer 8

customer based, end use and geographical

Question 9

consumer behavior

Answer 9

obtaining, consuming, and
disposing of products, and the decision
processes before and after these activities.

Question 10

steps in the consumer behavior

Answer 10

1. recognizes a problem or opportunity
2. search for evaluate alternatives
3. purchase decision, and then complete the transaction
4. perform the post-purchase evaluation

Question 11

Tools for nurturing customer relationships

Answer 11

Frequency marketing, affinity marketing
programs,co-marketing, co-branding, and one-on-one
marketing are commonly used tools.

Question 12

T or F Customer satisfaction is defined as the degree of excellence or
superiority of an organization’s good and services.

Answer 12

false

Question 13

Quality is judged by what producers decide it should be, not by
what customers want or expect it to be.

Answer 13

false

Question 14

Marketing a politician is an example of

Answer 14

person marketing

Question 15

The first step in developing a marketing strategy is

Answer 15

selecting a target market