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Teaches the fundamental concepts, strategies, and techniques used in marketing, with an emphasis on consumer behavior, market research, and the marketing mix.
______________________ allows managers who are not computer experts to gather all kinds of different information from a company's databases-information not produced in reports regularly generated by the company.
Functional sales relationships develop when a buyer continues to purchase a product from a seller out of habit, as long as his or her needs are met.
A trade salesperson, a type of sales position, whose primary function is to find prospects, or potential customers. The potential customers have a need, but for any number of reasons, they are not actively looking for products to meet those needs-perhaps because they lack information about where to look for them or simply haven't had the time to do so. Prospectors often knock on a lot of doors and make a lot of phone calls, which is called cold calling because they do not know the potential accounts and are therefore talking to them "cold."
To help distinguish a product or pallet of products in a warehouse or distribution center, its manufacturer gives it its own identification number. This is called _________.
Outsourcing work to companies abroad is called ___________________________.
Personal selling involves delivering personalized promotional materials directly to individual consumers. Materials may be delivered via mail, catalogs, Internet, e-mail, telephone, or direct-response advertising.
Exchanging Value is one of the most widely used portfolio planning approaches.
_____________________________teach the experience and process of actually doing marketing. It carries five dominant themes (Service-dominant logic, Sustainability, Ethics and social responsibility, Global coverage & Metrics) throughout in order to expose students to marketing in today's environment
Consultative selling requires the seller to use special expertise to solve a complex problem in order to create a somewhat customized solution.
New offering development process under Idea Screening, where the offering must also have _____________________ which is the degree to which the company can actually make and service the product. Further, it affects financial feasibility. For example, many manufacturers make great looking faucets, yet one of your authors had to have the "guts" of one faucet replaced three times before it would work, only to find two other friends had the same experience with the same model. A great-looking design is really only great if it works right.
New buy is part of B2B Situation.
A typical sales process starts with the ________________________ and move through several stages to the close. Good salespeople continue with making sure the customer gets the product, uses it right, and is happy with it.
Creating is process of collaborating with suppliers and customers to create offerings that have value.
One must write the research report and present its findings as one of the seven steps in Marketing Research Process.
Logistics, or the actual transportation and storage of materials and products, is the primary component of supply chain management, but there are other aspects of supply chain management that we will discuss later.
Under Marketing Research Process, the research objective is the goal(s) the research is supposed to accomplish while the research design is your "plan of attack." It outlines what data you are going to gather and from whom, how and when you will collect the data, and how you will analyze it once it's been obtained.
An ________________________ research design is useful when you are initially investigating a problem but you haven't defined it well enough to do an in-depth study of it.
Affiliative selling relationships are less likely to occur when the buyer needs a significant amount of expertise needed from the seller and trust is an issue.
Interacting with your customers and targeting your best ones is one of the steps in One-to-one Marketing.
____________________ consumer buying behavior that are motivated by ideals. They are mature, satisfied, comfortable, and reflective people who value order, knowledge, and responsibility.
When writing a Marketing Plan, it should be brief.
____________________________obtain large quantities of products from producers, store them, and break them down into cases and other smaller units more convenient for retailers to buy, a process called "breaking bulk."
A ___________________________is the person responsible for all business decisions regarding offerings within one brand or decide what products are to be marketed and how.
A ___________________ is a group of people who have the same social, economic, or educational status in society.
Some companies test the complete launch of a product's marketing plan to ensure that it reaches buyers, gets positive feedback, and generates sales of the product or service. This is called ____________________.
__________________________ is a type of B2B buyer, where companies that purchase goods and services that they transform into other products like General Motors needs steel and hundreds of thousands of other products to produce cars. McDonald's needs beef and potatoes. Delta Airlines needs fuel and planes. Your dentist needs drugs such as Novocain, oral tools, and X-ray machinery. Your local tattoo parlor needs special inks and needles and a bright neon sign that flashes "open" in the middle of the night.
Listening carefully to the complaint is one of the process in handling a customer complaint.
Customers who are good at generating new product ideas or applications of products are called ___________________.
The sales cycle starts with leads, some of whom become suspects. Some suspects become prospects, and some prospects become customers.
A type of sales mission, a ____________________ salesperson is someone who calls on retailers and helps them display, advertise, and sell products to consumers.
One of the 4 Ps which is about creating offerings is ____________________
A firm's competitor does not influence what composes its promotion mix.
"Identifying the customers' needs" is one of the components of Marketing Plan
____________________________ occurs when the expectations people set for you differ from one another.
______________________ refers to the process by which consumers change their behavior after they gain information or experience a product.
Basic offerring is one of the four general categories of Consumer offerings.
One of the basic elements of research report , Title Page outlines the major parts of the report, as well as any graphs and charts, and the page numbers on which they can be foun
Product is one of the four P's of Marketing.
A marketing audit is an examination or a snapshot of the state of a company's marketing strategies as they are actually implemented. Complete and partial audits can be done internally or by a consulting firm in order to find areas for improvement.
A ________ is a sales promotion in which a small amount of a product that is for sale is given to consumers to try. It increase awareness, so the strategy encourages trial and builds awareness.
_________________________ involves tailoring your product so that it stands out from the competition and people want to buy it.
The ____________________ or undifferentiated marketing evolved along with volume production and involves selling the same product to everybody. You can think of this type of marketing as a shotgun approach: you blast out as many marketing messages as possible on every medium available as often as you can afford.
A type of segmentation bases that answers, what benefits do customers want, and how do they use our product?
One of the basic elements of research report is the table of contents that explains what the report is about, when it was conducted and by whom, and who requested it.
Under complaint management strategies, people who use every Internet site possible to bash a company are called verbal terrorists.
Defining the problem is the first step in Marketing Research Process.
Gaining agreement on the solution and communicate the process of resolution is one of the process in handling a customer complaint.
Product is a key element in a company's ________, which may, at one extreme, consist of pure tangible goods or, at the other extreme, pure services.
Promonition is one of the four P's of marketing.
________________________involves running the idea of the offering by potential consumers
A marketing channel consists of just two parties-a producer and a consumer. A channel such as this is an indirect channel.
______________________ considers the many reasons why -- personal, situational, psychological, and social -- people shop for products, buy and use them, and then dispose of them.
Public relations are essential in promoting an organization's image and products.
A key component in the effectiveness of salespeople is the _______________ and depicted by a funnel because not all the people and firms a salesperson talks to will become buyers.
Product choice and purchase is one of the B2B Situations.
Basic category of business buyers, ________________________ are companies that sell goods and services produced by other firms without materially changing them. They include wholesalers, brokers, and retailers.
A study is _____________if it actually tested what it was designed to test.
The marketing plan is the strategy for implementing the components of marketing: creating, communicating, delivering, and exchanging value
Record the complaint and resolution is under measuring customer satisfaction.
Based on the situation analysis, organizations analyze their strengths, weaknesses, opportunities, and threats, or conduct what's called a qualitative analysis.
Unsought offerings is one of the two types under Idea Screening.
The strategic planning process includes conducting a situation analysis and developing the organization's mission statement, objectives, value proposition, and strategies.
Php 100.00 is the amount you paid for the carwash of SUV is an example of ______________________.
A ____________________________involves utilizing an existing brand name or brand mark for a new product category. An example is (frozen) Snickers Ice Cream Bars identified in our original Snickers bar is a shelf stable candy.
The company must also not enforce the policy and have procedures in place that make enforcement possible with regards to managing ethical practices.
A _________________________is one in which a low initial price is set. Often, many competitive products are already in the market. The goal is to get as much of the market as possible to try the product and also used on many new food products, health and beauty supplies, and paper products sold in grocery stores and mass merchandise stores.
Public relations (PR) helps improve and promote an organization's image and products by putting a positive spin on news stories. Public relations materials include press releases, publicity, product placement, and sponsorships.
Communicating also means that customers get a chance to tell the company what they think, like some companies and even government agencies are now having twitter to provide quick response to concerns of the customers.
____________________________are miniature supermarkets. Many of them sell gasoline and are open twenty-four hours a day.
A pull strategy is used when businesses are the target of sales promotions so that products may be pushed through the channel to final consumers.
That entire bundle consisting of the tangible good, the intangible service, and the price is the company's offering.
The firms a company partners with to actively promote and sell a product as it travels through its marketing channel to users are referred to by the firm as its channel members or _____________________.
Descriptive research design is one of the three types of research design.
Offering a solution is one of the process in handling the customer complaint.
Why is service-dominant logic important?
_______________________________provide an approach designed to deliver one consistent message to buyers across an organization's promotions that may span all different types of media-TV, radio, magazines, the Internet, mobile phones, and so forth.
Being able to differentiate your customers is one of the characteristics of an attractive market.
Part of strategic planning process, a situation analysis must be conducted before a company can decide on specific actions. A situation analysis involves analyzing both the external (outside the organization) and the internal (company) environments.
A type of segmentation bases that answers, what do our customers think about and value? How do they live their lives?
A position in marketing who are responsible for studying markets and customers in order to understand what strategies or tactics might work best for firms is _______________________.
In addition to creating an offering, communicating its benefits to consumers, and delivering the offering, there is the actual transaction, or exchange, that has to occur.
Firms that choose an intensive distribution strategy try to sell their products in as many outlets as possible; by contrast, selective distribution involves selling products at select outlets in specific locations while exclusive distribution involves selling products through one or very few outlets.
The first step for a company to safeguard or to manage ethical practices is to develop policies based on the company's mission and values that describe what is acceptable and what is not.
Sales managers may face the same challenges in managing salespeople that all managers face. These include ensuring that hiring, compensation, and other management practices are not discriminatory; that sexual harassment finds no home in the workplace; and that employees are treated with dignity and respect.
Wholesalers is one of the common way to transport products physically under Transportation or logistics.
A _________________________is a way to manage the vast amount of information firms have on hand-information marketing professionals and managers need to make good decisions.
Missionary salesperson, type of sales position, who is responsible for ongoing business with a customer who uses a product.
Salespeople do the following except;
When a nonprofit organization engages in marketing activities, this is called nonprofit marketing.
We use the word offering a lot instead of the term product. That's because of service-dominant logic, the approach to business that recognizes that consumers want value no matter how it is delivered.
The following are the basic elements of a research report, except;
Strategic partner selling is one of the few selling strategies.
Angel's burger creates a new chicken burger sandwich for only P20.00. This is an example of delivering.
A black market is a market in which a producer hasn't authorized its products to be sold.
The marketing plan's __________________section of the plan should describe a firm's customers, competitors, any other organizations with which it will collaborate, and the climate of the market.
A ________________________occurs when you run out of a product a customer wants to buy. Customers will simply look elsewhere to buy the product-a process the Internet has made easier than ever.
Marketing Offers People Career Opportunities
__________________________not only a company safeguard but also describe appropriate and inappropriate behaviors; they also describe the underlying principles. Not all ethical dilemmas can be listed in a policy, so by detailing the principles and values that make up the reasoning behind the policies, salespeople and sales managers will be more prepared to respond appropriately.
A company's marketing plan flows from its_____________________. Both begin with a focus on customers. The essential components of the plan are understanding customers, creating an offering that delivers value, communicating the value to the customer, exchanging with the customer, and evaluating the firm's performance. A marketing plan is influenced by environmental trends such as social responsibility, sustainability, service-dominant logic, the increased availability of data and effective metrics, and the global nature of the business environment.
Panic shoppers, or people who act like customers, might visit competitors to learn about their customer service and their products. Imagine going to a competitor's restaurant and studying the menu and the prices and watching customers to see what items are popular and then changing your menu to better compete.
Analyzing the data is one of the seven steps in Marketing Research Process.
One of the five factors that influence promotion mix is the amount of budget available.
Convenience offerings is one of the four general categories of Consumer offerings.
Manufacturers' Sales Offices is one of the two marketing systems.
Direct response advertising includes an offer and a call to action
Under Pricing approaches, many stores use _____________________________, in which they take the cost of the product and then add a profit to determine a price and is very common. The strategy helps ensure that a company's products' costs are covered and the firm earns a certain amount of profit.
Typically, a company pays a fee to have one of its products placed. But sometimes the company pays nothing if the product is needed for a show in some way or as part of the plot. FedEx did not pay for product placement in the movie Castaway.
__________________________ is a type of B2B buyer, where companies that sell goods and services produced by other firms without materially changing them. They include wholesalers, brokers, and retailers.
_______________________ buy products from wholesalers, agents, or distributors and then sell them to consumers.
Under Big five personality traits, Extraversion. How prone you are to negative mental states.
____________________ is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
________________________is a process that helps an organization allocate its resources to capitalize on opportunities in the marketplace
Each sale is a separate exchange, and the two parties to it have little or no interest in maintaining an ongoing relationship. For example, when you fill up your car with gas, you might not care if it's gas from Exxon, Shell, or another company. You just want the best price. If one of these companies went out of business, you would simply do business with another. This type of sales relationship is called ________________________.
Call to action involves direct marketing by phone.
Another name for channel leaders is channel supporters who are the strong channel partners often have the channel power.
____________________________is a shotgun approach in marketing or undifferentiated marketing.
Angel's burger sells them in its stores. This is an example of exchanging.
It's June and back to school sales are everywhere. Parents, who are in a budget after paying huge tuition fees, are going to Divisoria to buy school uniforms and school supplies for their children. This is an example of ________________________.
A ____________________________is a thirty-second "elevator speech" stating the specific benefits a product or service offering provides a buyer. It shows why the product or service is superior to competing offers.
What is Marketing Mix?
_____________________________ is the approach to business that recognizes that consumers want value no matter how it is delivered
Straight buy is part of the consumer buying process.
Under marketing channel strategy, a pull strategy focuses on creating demand for a product among consumers so that businesses agree to sell the product.
Issuing coupons, running contests and games, and offering rebates and mail-in offers are examples of _____________________________.
Causal research design is one of the three types of research design.
The firm's mission statement is the means to the ends, or what a firm's going to do to meet its objectives.
Firms operating with the marketing concept philosophy are said to be production oriented.
Using visuals and bullet points is one of the tips for writing an effective Marketing Plan.
Hassle is the time and effort the consumer puts into the shopping process.
The producers of upscale products don't want the retailers to deeply discount their products. A resale price maintenance agreement is an agreement whereby a producer of a product restricts the price a retailer can charge for it.
Technology Platform is one of the product levels
Exchanging is getting those offerings to the consumer in a way that optimizes value
______________________________ or overhead expenses, are costs that a company must pay regardless of its level of production or level of sales. A company's expenses include items such as rent, leasing fees for equipment, contracted advertising costs, and insurance. As expense, you must pay your rent whether you stay there for the weekend or not.
_____________________ (a term that began as an acronym for special promotion incentive funds) are short-term bonus payments companies use to encourage salespeople to sell certain products.
You're watching television and an interesting product is shown. The announcer says, "Call now and receive a bonus package and free delivery for the first 50 callers is an example of ______________________.
Using truck is one way to transport products physically to customers under Transportation or logistics.
Survey data can be collected by using combinations of ways and methods. The following are the basic methods except;
Under the types of research design, Physiological measurements also fall into the category of causal research design. Physiological measurements measure people's involuntary physical responses to marketing stimuli, such as an advertisement.
Often used in exploratory research, a focus group is a group of potential buyers who are brought together to discuss a marketing research topic with one another. A moderator is used to focus the discussion, the sessions are recorded, and the main points of consensus are later summarized by the market researcher.
Specialty stores are miniature supermarkets , often seen at gasoline stations and usually operates 24/7.
___________________________ is a broad term in marketing that means describing the offering and its value to your potential and current customers, as well as learning from customers what it is they want and like
A type of sales mission, a _________________________salesperson calls on people who make decisions about products but don't actually buy them, and while they call on individuals, the relationship is business-to-business. For example, a pharmaceutical representative might call on a physician to provide the doctor with clinical information about a medication's effectiveness.
Political climate, Economic climate, Social and cultural environment and Technological environment
One of the two basic types of data, where the information you collect yourself, using hands-on tools such as interviews or surveys, specifically for the research project you're conducting is the Secondary data.
The simplest method for determining the promotion budget is often merely using a ________________________________________ .
Post purchase use and evaluation is part of the consumer buying process.
The research design is your "plan of attack."
Which of the five major promotion tools includes building up a positive corporate image and handling unfavorable stories and events?
Merchant wholesalers is one of the three types of channel partners.
Under Big five personality traits, Neuroticism. How outgoing or shy you are.
__________________________is an effort to "move" a product to a different place in the minds of consumers
Promotion or Communication mix consist of the following except;
The marketing concept, a philosophy underlying all that marketers do, requires that marketers seek to satisfy customer wants and needs.
The point at which total costs equal total revenue is known as the ________________________For a company to be profitable, a company's revenue must be greater than its total costs. If total costs exceed total revenue, the company suffers a loss.
Total costs include both fixed costs and variable costs.
Starbucks has done a good job in terms of locating its stores. You can scarcely drive a few miles down the road without passing a Starbucks store. You can also buy cups of Starbucks coffee at grocery stores and in airports -- virtually any place where there is foot traffic. This is an example of _________________________.
Under Types of Sales Relationship, when your kid wants to eat fried chicken with spaghetti and fries, you might not care if it's Jollibee, McDonalds or KFC, or another fastfood chain. You just want the best price or convenience or it's already near the area. If one of these companies went out of business, you would simply do business with another. This is an example of functional relationship.
Marriott International is an example of a company that operates in a _______________________________. The company has fifteen different types of facilities designed to meet the needs of different types of market segments, including the following:
Sponsorships are commonly not expensive, they are growing in popularity as corporations seek ways to strengthen their corporate image, increase their brand awareness, differentiate their products, and reach their target markets. Worldwide, corporations spent over $43 billion on sponsorships in 2008 in US.
________________ is a stage in the B2B Buying Process wherein the RFPs are reviewed and the vendor or vendors selected.
When it comes to handling a customer complaint, it is important to acknowledge the customer's feelings.
When consumers are very sensitive to the price change of a product-that is, they buy more of it at low prices and less of it at high prices-the demand for it is ________________________.
Sales promotion is an interactive, paid approach to marketing that involves a buyer and a seller. The interaction between the two parties can occur in person, by telephone, or via another technology.
Coke is an example of ________________.
You can learn how to more effectively create value, communicate and deliver that value to the receiver, and receive something in exchange, then we've achieved our purpose then that is evaluation.
Radio frequency identification or RFID is similar to a barcode, only better, because the number on it is truly unique. Product codes make it possible to distinguish between two identical packs of product.
Under Big five personality traits, Conscientiousness. How open you are to new experiences.
Stage in product life cycle influence promotion mix.
In a Strategic partnership, the level of commitment between the buyer and the seller is often likened to a marriage.
Sales people manages relationships.
A marketing information system (MIS) is a way to manage the vast amount of information firms have on hand-information marketing professionals and managers need to make good decisions includes the following components except;
Delivering is trading value for those offerings.
Product line is one of the product levels.
So what happens if products end up broken or unusable as they travel through their supply chains? And what do companies do with scrap materials and other "junk" produced, such as packaging? Increasingly, firms now run products and materials such as these backward through the supply chain to extract value from them. The process is known as reverse logistics.
Many stores now place coupons next to products to encourage consumers to select a particular brand and products, this is an example of _______________________.
Joint venture is a longer-term form of licensing that is extremely popular with service firms, such as restaurants/carts like Jollibee, Potato Corner, Master siomai, etc.
In Marketing Mix: Price is the monetary amount charged for the product (exchange).
Investment risk is part of the product levels.
Under Introductory Pricing Strategies, launching of products that have been introduced in the last decade and were priced when they first entered the market like the iPhone, was first introduced, its price was almost $700. Since then, the price has dropped considerably even for new models. The same is true many high-tech products. A ____________________________is when a company sets a high initial price for a product. The idea is to go after consumers who are willing to pay a high price (top of the market) and buy products early. This way, a company recoups its investment in the product faster.
If you use any coupons or promotions when you buy a product, the advertiser knows which vehicle you used to get the information. Market research and warranty registration also provide __________________.
A type of segmentation bases that answers, where are our customers located, and how can we reach them?
The________________________ of a business unit is likely to be responsible for the creation of its marketing plan.
In reality, who, within an organization, is responsible for creating its marketing plans?
The different types of product and market entry strategies a firm can pursue in order to meet their objectives
_______________________ can distort marketing messages like poor reception, poor print quality, problems with a server, or a low battery can also interfere with your getting messages.
A company faces a number of tradeoffs when it outsources an activity. The loss of control-particularly when it comes to product quality and safety-is one of them or they have experienced "frequent" and "serious" quality problems.
One of the steps in One-to-One Marketing is customizing your products and marketing messages to meet their needs.
General Electric Approach is one of the four activities that centers on customer value which marketing is composed of.
______________________is how you interpret the world around you and make sense of it in your brain. You do so via stimuli that affect your different senses-sight, hearing, touch, smell, and taste.
A value proposition is a thirty-second "elevator speech" stating the specific benefits a product or service offering provides a buyer. It shows why the product or service is superior to competing offers.
Mostly marketers are interested in developing stronger relationships with large customers than smaller customers, even when the large customer receives quantity discounts because smaller customers are more costly in processing all their orders , dealing with their complaints is time consuming and costs money.
All kinds advertising media have the same advantages and disadvantages.
A _____________________________is a marketing research company that doesn't conduct its own research and sell it. Instead, it buys research reports from other marketing research companies and then sells the reports in their entirety or in pieces to other firms.
Green Philippines involves marketing environmentally safe products and services in a way that is good for the environment.
For many companies, the __________________________ to market a product determines what elements of the promotion mix are utilized that affects promotion reach and frequency.
When it comes to market intelligence neglect observing how customers are behaving.
The following are steps in a marketing research process, except;
Shopping offerings is one of the four general categories of Consumer offerings.
One of the important components in measuring customer satisfaction is whether the organization was able to perform well enough to meet the customer's expectations.
Under Feature Specification of New offering development process, ___________________________ is a process whereby a company begins with the customer's desired benefits and then designs an offering that delivers those benefits.
The key to a successful ongoing marketing strategy is twofold: understanding causality and good marketing plan execution. Drawing the wrong conclusions about causality, or what actually causes a change in a company's sales performance, can lead to disastrous results. That's why companies investigate the causes by gathering market feedback and conducting market research
A __________________________involves paying a fee to have your name associated with different things, such as the venu, apparel, event, cause, mission, vehicle, etc.
A dispute among channel members is called a channel conflict. Channel conflicts are not common.
Collateral is printed or digital material salespeople use to support their message. It can consist of brochures, position papers, case studies, clinical studies, market studies, and other documents.
Under Pricing Approaches, when companies add a markup, or an amount added to the cost of a product, they are using a form of cost-plus pricing.
An attractive market should fit in with your firm's objectives and mission.
__________________________is a process by which marketing personnel rate the leads to indicate whether a lead is hot (ready to buy now), warm (going to buy soon), or cold (interested but with no immediate plans to buy).
The following are examples of Exploratory Research Technique except;
Closely related to marketing research is market intelligence, which is often referred to as competitive intelligence.
What is the personal value equation?
One of the characteristics of an attractive market is it should be growing.
Marketing Benefits Society
Sourcing is the process of evaluating and hiring individual businesses to supply goods and services to your business. If a firm can find a company that can add more value than it can to a function, it will often insource the task to that company.
Pricing decisions are affected by government or state regulations. Regulations are designed to protect consumers, promote competition, and encourage ethical and fair behavior by businesses. Price fixing, which occurs when firms get together and agree to charge the same prices, is _____________________.
In handling a customer complaint, you do not have to determine the root cause of the problem.
The strategic planning process includes conducting a situation analysis and developing the organization's mission statement, objectives, value proposition, and strategies
When Pedigree let people on Facebook use their page to be liked and shared by people who participated for a free dog food treat and will be delivered in your homes is an example of ________________________.
Business people focused on the development of products that could be mass produced cheaply. In other words, firms became ___________________, meaning that they believed the best way to capture market share was to create and manufacture better products at lower prices.
Middlemen or resellers are also called ____________________________.
Another way to foster cooperation in a channel is to establish a vertical marketing system wherein channel members formally agree to closely cooperate with one another, by contrast, horizontal marketing system is where channel members have no affiliation with one another.
Disposal of the product is part of the consumer buying process.
Having the customer's expectation is a process in handling a customer complaint.
Convincing people that global warming is a real threat via advertisements and commercials is social marketing.
Organizations must plan their promotions based on availability of media.
Relaying customer and market information back to their organizations is what Salespeople do.
WILCON Builders are _______________________________ in the retail construction-materials/products market.
The following are benefits of market targeting and segmenting EXCEPT;
________________________ is printed or digital material salespeople use to support their message. It can consist of brochures, position papers, case studies, clinical studies, market studies, and other documents.
The marketing concept emphasizes satisfying customer needs and _________________.
The best marketing decisions and supplier selections aren't enough if your company's demand forecasts are wrong. Demand planning is the process of estimating how much of a good or service customers will buy from you.
A study is valid if it actually tested what it was designed to test. If you were to repeat the study, and get the same results (or nearly the same results), the research is said to be ___________________________.
Product Category is one of the two types under Idea Screening
Hierarchy of Needs was developed by _______________________.
_____________________consumer buying behavior motivated by the desire for achievement.
______________________ is an example of Primary Data Source.
_____________________________also called criteria to classify buyers.
"We find ways" is an example of ______________________.
Designing the research is the first step in Marketing Research Process.
Domino's Pizza was forced to engage in damage control after two of its employees created a video doing disgusting things to pizzas and then posting it to YouTube. If the publicity is particularly bad, as it was for Domino's, a company might hold a press conference or prepare a speech for the top executive trying to manage the injury to Domino's business. This is an example of _________________________.
A product's lead time is the amount of time it takes for a customer to receive a good or service once it's been ordered. Lead times also have to be taken into account when a company is forecasting demand.
A marketing plan is influenced by environmental trends such as social responsibility, sustainability, service-dominant logic, the increased availability of data and effective metrics, and the global nature of the business environment
Communicating is an offering that has value is much more than simply getting the product into the hands of the user; it is also making sure that the user understands how to get the most out of the product and is taken care of if he or she requires service later0
Creating is one of the four activities that centers on customer value which marketing is composed of.
_______________________is the process of collecting, analyzing, and reporting marketing information that can be used to answer questions or solve problems so as to improve a company's bottom line. Marketing research includes a wide range of activities.
A prospect is someone with the budget, authority, need, and ____________ (BANT) to make a purchase. In other words, the person has the money to make the purchase and the authority to do so; the person also needs the type of product the salesperson is selling and is going to buy such a product soon.
Sustainability is an example of social responsibility and involves engaging in practices that do not diminish the earth's resources.
Organizations must determine promotion objectives, or what they want to accomplish with their promotions. For example, if a company has a new brand they may want to generate awareness or attention. Later, they may focus on persuading customers to buy their brand. Each brand needs to have a unique selling proposition (USP) for customers to remember and want their product.
______________________________ is an important component in creating a marketing strategy which is the estimate of how much the company will actually sell.
Delivering is a broad term in marketing that means describing the offering and its value to your potential and current customers, as well as learning from customers what it is they want and like.
Trade shows, sponsorships, event marketing, and special incentives given to retailers, such as extra money, in-store displays, and prizes to market particular products and services is an example of _____________________.
You just sat down for dinner and the phone rings. It's a local charity calling to raise money. The calls always seem to come at dinner or at other inconvenient times is an example of ________________________
A coupon is a type of consumer sales promotion in which a small amount of a product that is for sale is given to consumers to try. It increases awareness, so the strategy encourages trial and builds awareness.
Specialty offerings is one of the four general categories of Consumer offerings.
Marketing can be thought of as a set of business practices that for-profit organizations, nonprofit organizations, government entities, and individuals can utilize.
It is not part of the salespeople's duties to create value for their firms' customers.
_________________________, or agents, don't purchase the products they sell (take title to them). Their role is limited to negotiating sales contracts for producers.
The firm's Objectives are what organizations want to accomplish-the end results they want to achieve-in a given time frame.
Marketing Delivers Value
A ________________________________states the specific benefits a product or service offering provides a buyer. It shows why the product or service is superior to competing offers
Purchasing a product with no planning or forethought is called ______________________.
A rebate is type of consumer sales promotions designed to get repeat business. It includes things such as frequent flier programs, hotel programs, and shopping cards for grocery stores, drugstores, and restaurants. Sometimes point systems are used in conjunction with these programs.
Under Big five personality traits, Agreeableness. How easy you are to get along with.
___________________________also known as narrowcasting.
The marketing plan's ___________________section details the tactics the organization will use to develop, market, and sell the offering. When readers complete the strategy section, they should conclude that the proposed strategy is the best one available
One of the basic elements of research report, the Executive summary should outline the course of action you think should be taken based on the findings of the research and the purpose of the project.
What benefits do customers want, and how do they use the product? This is referred to as ____________________.
A ________________________is a promise by the seller that an offering will perform as the seller said it would. The UCC makes a distinction and can be expressed or written or it may also be implied.
Traditional media (magazines, newspapers, television) now compete with media such as the Internet, texting, and mobile phones; user-generated content such as blogs and YouTube.
Establish short-term measures to evaluate your efforts is one of the steps in one-to-one marketing.
Under transporting, Pipelines are generally used to transport oil, natural gas, and chemicals. Two-thirds of petroleum products are transported by pipeline, including heating oil, diesel, jet fuel, and kerosene. These are costly to build, but once they are constructed, they can transport products cheaply.
__________________ are companies that sell goods and services produced by other firms without materially changing them.
_____________________is a consumer buying behavior like experiencers, they are motivated by self expression but practical people who have constructive skills and value self-sufficiency.
Which customer question is answered by a company's value proposition?
Air is one of the three types of channel partners.
A good marketing plan includes how the organization should respond to various scenarios if the market changes.
"Evaluate whether the organization can meet those needs in some way that allows for profitable exchanges with customers to occur" is one of the components of Marketing Plan
Delivering is one of the four activities that centers on customer value which marketing is composed of.
The products in inventory can also become obsolete, deteriorate, spoil, or "shrink." Shrinkage is a term used to describe a reduction or loss in inventory due to shoplifting, employee theft, paperwork errors, or supplier fraud
Specifying the samples is one of the seven steps in Marketing Research Process.
Under channel selection factors, Internet may not be the best marketing channel for certain types of product.
Transactional is one of the few types of sales relationships.
A _______________________________is a warehouse or storage facility where the emphasis is on processing and moving goods on to wholesalers, retailers, or consumers.
Apple's engineers began working on the iPod by looking at the available technology and thinking about how customers would like to have their music more available, as well as more affordable, through downloading, this only means everything starts with the _________________________.
________________________ involves promoting a product to middlemen, such as wholesalers and retailers, who then promote the product to consumers
A business firm is only selling Catsup/Ketchup but with varieties like tomato, banana, etc. This is an example of ____________________________.
Under share marketing and information, a nondisclosure agreement (NDA) is a contract that specifies what information is proprietary, or owned by the partner, and how, if at all, the partner can use that information.
Sourcing is the process of evaluating and hiring individual businesses to supply goods and services to your business while _________________________is the process of actually purchasing those goods and services.
The process of breaking down all consumers into groups of potential buyers with similar characteristics is called _________________________________.
Another investigative tool that can be used to research a drop in a company's sales performance is a ____________________________and is an examination or snapshot of the state of a company's marketing strategies as they are actually implemented.
Oppurtunity risk is part of the product levels.
The general business environment, such as the economy, can also affect the marketing channels chosen for products. For example, think about what happens when the value of the dollar declines relative to the currencies of other countries. When the dollar falls, products imported from other countries cost more to buy relative to products produced and sold in the United States. Products "made in China" become less attractive because they have gotten cheaper.
When it comes to market intelligence don't neglect observing how customers are behaving. They can provide many clues, some of which you will be challenged to respond to
______________________ = benefits received - [price + hassle]
Needs-satisfaction selling, the seller uses special expertise to solve a complex problem in order to create a somewhat customized solution.
Under Forecasting Methods, Expert Opinion is similar to executive opinion except that the expert is usually someone outside the company and like executive opinion, expert opinion is a tool best used in conjunction with more quantitative methods. As a sole method of forecasting, however, these opinions are often very inaccurate.
Vertical marketing system is one of the two marketing systems.
value = benefits received - [price + hassle]
Sales promotion influence promotion mix
The _____________________ make the final purchasing decision.
Basic category of business buyers, ________________________markets include non-profit organizations such as the Philippine Red Cross, churches, hospitals, charitable organizations, private colleges, civic clubs, and so on. Holding costs down is especially important to them because it enables them to provide their services to more people.
Product information is part of the consumer buying process.
Companies use a variety of tools for their public relations purposes, including annual reports, brochures and magazines for both employees and the public, Web sites to show good things they're doing, speeches, blogs, and podcasts. Some of the most commonly used PR tools include press releases, sponsorships, product placements, and social media.
Clickstream data is data generated about the number of people who visit a Web site and its various pages, how long they dwell there, and what they buy or don't buy.
Who does the marketing?
Damage control is the process of countering the extreme negative effects a company gets when it receives bad publicity.
The following are four types of salespeople except;
_____________________occur when a company introduces additional items in the same product category under the same brand name such as new flavors, forms, colors, added ingredients, package sizes. Like Apple has Iphone 6, 6s, 6plus .
The firm's Strategies states the purpose of the organization and why it exists. Both profit and nonprofit organizations have mission statements, which they often publicize.
In Marketing Mix: Product is Communication the details or benefits about the product
Need recognition is part of the consumer buying process.
The goal of sales promotions is to persuade customers to take action quickly and make larger purchases.
The following are examples of Trade Promotions except;
One of the characteristics of an attractive market is having the resources to compete in it.
_______________________refers to the physical flow of materials in the supply chain.
A sample is a type of consumer sales promotion that provides an immediate price reduction off an item. The amount is later reimbursed to the retailer by the manufacturer. The retailer also gets a handling fee for accepting this. When the economy is weak, more consumers cut out this in newspapers or magazines and look for special bargains buy-one-get-one-free (BOGO).
______________________________is the set of activities designed to create a brand and position it in the minds of consumers. A successful strategy is one that accomplishes what Coke and Apple have done-it creates consumer recognition of what the brand (signified by its name, picture, design, symbol, and so forth) means.
The strategic plan is the strategy for implementing the components of marketing: creating, communicating, delivering, and exchanging value.
One result of social networking is viral marketing, or the spread of the company's message through the community.
__________________________ a target market strategy which involves targeting an even more select group of consumers. For example, sports channels like STAR Sports, ESPN, STAR Cricket, and Fox Sports target sports enthusiasts.
A _____________________ is the person responsible for all business decisions regarding offerings within one brand.
Keep in mind to use active (not passive) voice when writing your Marketing Plan.
A key component in the effectiveness of salespeople is the sales cycle which can be measured in steps, in days or in months.
The process of asking questions to identify a buyer's problems and needs and then tailoring a sales pitch to satisfy those needs is called consultative selling.
A marketing information system (MIS) is a way to manage the vast amount of information firms have on hand-information marketing professionals and managers need to make good decisions.
A_______________________ is a name, picture, design, or symbol, or combination of those items, used by a seller to identify its offerings and to differentiate them from competitors' offerings.
Press releases, sponsorships, and product placements are three commonly used PR tools.
Differentiated marketing or choosing select groups of people and organizations to sell to is called ________________________.
Price is one of the four P's of Marketing.
Identify your customers is one of the steps in One-to-One Marketing
____________________ are the people and groups within the organization that actually use the product.
A promotion that's popular during weak economic times is called a _____________________________. It is a promotion in which a seller gives customers discount cards or coupons after purchasing.
Companies can determine how much to spend on promotion several different ways. The percent of sales method, in which companies use a set percentage of sales for their promotion, is often the easiest method to use.
Henry Ford use supply chain management whereby taking ownership of the supply chains for his automobiles where he owned the foundries that converted raw iron ore to steel for his cars. He also owned the plantations from which rubber was extracted to produce his automobiles' tires, and the ships on which the materials and finished products were transported.
_______________________ occurs when the demand for one product increases the demand for another.
You're with a friend, but when you hear someone else say your name, you may pay more attention to the person talking about you than to your friend. The same thing happens when you watch a television show or read a magazine. You might be watching a show when the phone rings and then pay more attention to the person on the phone than to what is on the television; this is an example of ________________________.
Marketing research can help you with many tasks, except;
Another name for marketing channel is __________________________.
Trade promotion is one of the fastest-growing types of sponsorships. It occurs when a company supports a nonprofit organization in some way. For example, M&M's sponsors the Special Olympics and American Airlines raises money for breast cancer research with an annual celebrity golf and tennis tournament. The airline also donates frequent flier miles to the cause.
Massage is being offered in SPA business is an example of ______________________.
Communicating is describing those offerings, as well as learning from customers.
In Marketing Mix: Promotion are Goods and services (creating offerings)
A marketing plan's ________________________ should include a brief summary of the market, the product to be offered, the strategy behind the plan, and the budget, as well as any other important information. In this section of the plan, the planner describes the offering and a brief rationale for why the company should invest in it
The process of breaking down all consumers into groups of potential buyers with similar characteristics is called _________________________.
A forecast is an educated guess, or estimate, of sales in the future. Accuracy is important because so many other decisions a firm must make depend on this, it has to consider market potential and sales potential and includes expert opinion, channel and customer surveys, sales force composites, time series data, and test markets.
__________________________________is type of selling strategy in which the seller uses special expertise to solve a complex problem in order to create a somewhat customized solution. For example, where a company that creates customized solutions to make office and industrial buildings more energy efficient. The company's salespeople work with their customers over the course of a year or longer, as well as with engineers and other technical experts, to produce a solution.
A type of segmentation bases that answers, How do the ages, races, and ethnic backgrounds of our customers affect what they buy?
Intermediaries- can help them sell the products better than they could working alone and they have some sort of capabilities the producer needs; contact with many customers or the right customers, marketing expertise, shipping and handling capabilities, and the ability to lend the producer credit are among the types of help a firm can get by utilizing a channel partner.
Porsche unveiled its new line of Panamera vehicles at a Shanghai car show. The car is a global model, but unlike Porsche's other cars, it's longer. Why? Because rich car buyers in China prefer to be driven by chauffeurs. This is an example of ___________________________.
________________________ materials include press releases, publicity, product placement, and sponsorships.
Under metrics used by salespeople, ___________________________measure how good a salesperson is at moving customers from one stage in the selling cycle to the next. For example, how many leads did the salesperson convert to suspects.
Surprising stimuli is also called ___________________.
Angel's burger makes the chicken burger sandwiches available on certain dates. This is an example of offering.
The _________________________involves tailoring your product so that it stands out from the competition and people want to buy it. Example Amazon used this positioning statement back when it almost exclusively sold books: "For World Wide Web users who enjoy books, Amazon.com is a retail bookseller that provides instant access to over 1.1 million books. Unlike traditional book retailers, Amazon.com provides a combination of extraordinary convenience, low prices, and comprehensive selection."
"Pizza delivered in 30 minutes or it's free" is a good example of a _____________________________.
Brokers is one of the three types of channel partners.
Horizontal marketing system is one of the three types of channel partners.
An electronic product code (EPC) is similar to a __________________, only better, because the number on it is truly unique this are electronic product codes make it possible to distinguish between two identical packs or products. EPC technology can also be used to combat "fake" products, or knockoffs, in the marketplace.
The ___________________________ is the goal(s) the research is supposed to accomplish.
Under Types of Sales Relationship, GE manufactures the engines that Boeing uses in the commercial planes it makes. Both companies work together to advance the state of engine technology because it gives them both an edge. Every time Boeing sells an airplane, GE sells one or more engines. A more fuel-efficient or faster engine can mean more sales for Boeing as well as GE. As a result, the engineers and other personnel from both companies work very closely in an ongoing relationship. This is an example of transactional relationship.
_________________________ occurs when a firm's new offering eats into the sales of one of its older offerings.
______________________ is the inward drive we have to get what we need.
______________________are products and services designed to deliver value to customers- either to fulfill their needs, satisfy their "wants" or both.
You have probably also seen ads on the inside of subway cars, in trains and buses, and even in bathroom stalls. These are examples of telemarketing.
Script based selling is one of the few selling strategies.
_______________________ is an example of organizational objective.
From the 1920s until after World War II, companies tended to be selling oriented, meaning they believed it was necessary to push their products by heavily emphasizing advertising and selling.
These are products and services designed to deliver value to customers- either to fulfill their needs, satisfy their "wants," or both
In Marketing Mix: Place is getting the product to a point at which the customer can purchase it (delivering).
Communicating is one of the four activities that centers on customer value which marketing is composed of.
____________________ often called Competitive Intelligence.
Under Big five personality traits, Openness. How diligent you are.
Writing the research report and present its findings is the last step in Marketing Research Process.
A ____________________________is a type of B2B situation in which a purchaser buys the same product in the same quantities from the same vendor. Nothing changes, in other words. Postpurchase evaluations are often skipped, unless the buyer notices an unexpected change in the offering such as a deterioration of its quality or delivery time.
Products have to be physically shipped. Logistics refers to the physical flow of materials in the supply chain. You might be surprised by some of physical distribution methods that companies use. (land, air, water, etc.)
Under Organization's promotion objects the following is the composition of AIDA model except;
Explanatory research design is one of the three types of research design.
Angel's burger launches this in major television stations. This is an example of communicating.
What Sales Does for Marketing? Salespeople talk to customers every day. They are the "eyes and ears" of their companies. More than anyone else in an organization, they know what customers want.
Apple has a Web page where consumers can fill out a form, print it, and ship it along with their old cell phones and MP3 players to Apple. Apple then pulls out the materials that are recyclable and properly disposes of those that aren't. By lessening the hassle associated with disposing of products, Office Depot and Apple add ________________to their product offerings.
Firms don't always embrace the marketing concept and a market orientation. Beginning with the Industrial Revolution in the late 1800s, companies were market oriented.
Using water is one way to transport products physically to customers under Transportation or logistics.
When you are buying an air conditioner unit where you need to feel comfortable during summer season, the HP or horsepower is _____________________________ of the product or characteristic of the offering.
Public relations personnel frequently prepare press releases in hopes that the news media will pick them up and disseminate the information to the public. However, there is no guarantee that the media will use a press release.
Prospector, another type of sales position, who calls on retailers and helps them display, advertise, and sell products to consumers.
Promotion is one of the four P's of Marketing.
A new type of retail store that turned up in the last few years and temporary stores. Category killers are small or can be kiosks or temporarily occupy unused retail space.
__________________________ a target market strategy which can be a risky strategy because you really do have all of your eggs in one basket. Example of this strategy is when a manufacturer of Rolex watches has chosen to concentrate on the luxury segment of the watch market.
_____________________is one of the components/activities of marketing which is trading value for those offerings.
The simplest marketing channel consists of just two parties-a _______________ and a consumer.
Boston Consulting Group Matrix is one of the most widely used portfolio planning approaches.
Porter's forces model that determines competitive power in a business situation
Supermarkets are supercenters that sell products at a discount. They require people who shop with them to become members by paying an annual fee. S&R is an example.
Opportunities in marketing in which some marketing personnel plan special events, orchestrating face-to-face conversations with potential and current customers in a special setting is called __________________________.
Cost reduction is definitely an important part of supply chain management, because they look at supply chains mainly in terms of the costs they can save and if your competitors can produce their products at a lower cost, they could put you out of business.
A good customer complaint process involves following up, if appropriate.
"Develop a mission statement,strategy, and organization centered on those needs" is what marketing plan should do.
Another aspect of outsourcing relates to the social responsibility and environmental sustainability companies exhibit in terms of how they manage their supply chains. Environmental sustainability is the idea that companies should manage their businesses not just to earn profits but to advance the well-being of society.
Marketing can be thought of as a set of business practices that for-profit organizations, nonprofit organizations, government entities, and individuals can utilize. When a nonprofit organization engages in marketing activities, this is called nonprofit marketing. Marketing conducted in an effort to achieve certain social objectives is called _________________________ .
The firms a company partners with to actively promote and sell a product as it travels through its marketing channel to users are referred to by the firm as its channel members (or partners).
More common ways to transport products physically to customers under transportation or logstics is through Brokers.
A sponsorship involves paying a fee to have your name associated with different things, such as the following except;
_________________________is data generated about the number of people who visit a Web
One of the 4 Ps which is about the getting the product to a point at which the customer can purchase it or by delivering it is __________________________.
Integrated marketing communications (IMC) provide an approach designed to deliver one consistent message to buyers across an organization's promotions that may span all different types of media-TV, radio, magazines, the Internet, mobile phones, and so forth.
Billboards and movable promotions is an example of ________________________.
A ____________________________is an agreement whereby a producer of a product restricts the price a retailer can charge for it.
Inventory control is the process of ensuring your firm has an adequate supply of products and a wide enough assortment of them meet your customers' needs. One of its goals is to avoid stockouts.
A push strategy is one in which a manufacturer convinces wholesalers, distributors, or retailers to sell its products.
Marketing Costs Money
The following are the benefits of Market Segmentation except;
Collecting the data is one of the seven steps in Marketing Research Process.
An attractive market have neither been already swamped by competitors, nor have found a way to stand out in a crowd.
Some common price adjustments include ____________________________,which involves giving customers discounts for larger purchases.
Under Feature Specification, _____________________is a process whereby a company begins with the customer's desired benefits and then designs an offering that delivers those benefits.
One of the 4 Ps which is about the monetary amount charged for the product or exchange is _________________.
Place is one of the four P's of Marketing.
In buying centers, ___________________________ are groups of people within organizations who make purchasing decisions.
Marketing Enables Profitable Transactions to Occur
A ________________________ is a two-dimensional graph that visually shows where your product stands, or should stand, relative to your competitors, based on criteria important to buyers
Consumers' media preferences do not affect promotion mix, hence they marketing research companies do not have to conduct a research about them.
Air freight is the fastest way to ship goods. However, it is ten times more expensive as much to ship a product by air as by sea.
Features, matter differently to different consumers based on each individual's needs. Further, the value equation, which is different for every customer.
_____________________________is the process of estimating how much of a good or service customers will buy from you. If you're a producer of a product, this will affect not only the amount of goods and services you have to produce but also the materials you must purchase to make them.
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