119 notecards = 30 pages (4 cards per page)
Which of the following statements about marketing is true?
________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
Identify the correct statement about marketing management.
A social definition of marketing says ________.
________ goods constitute the bulk of most countries' production and marketing efforts.
As economies advance, a growing proportion of their activities focuses on the production of ________.
Car rental firms, hair dressers, and management consultants provide ________.
The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) ________.
The "Malaysia, Truly Asia" ad campaign that showcased Malaysia's beautiful landscape and its multicultural society in order to attract tourists is an example of ________ marketing.
In Walt Disney's Magic Kingdom, customers can visit a fairy kingdom, a pirate ship, or even a haunted house. Disney is marketing a(n) ________.
Janet is very upset that she can't get tickets to the Rolling Stones concert because they are sold out. Which of the following demand states applies to Janet's situation?
Sales of woollen clothing usually increase during the winter season and decline thereafter. This is an example of ________ demand.
Julia is worried about the rising pollution levels in her city. She doesn't mind paying extra for goods and services that use sustainable processes to help control pollution. This is an example of ________ for pollution.
People in emerging countries today are becoming increasingly health conscious and are seeking healthy food choices. As a result, demand for health foods is rising steadily, creating an opportunity for marketers to exploit this ________ market.
When consumers share a strong need that cannot be satisfied by an existing product, it is called ________.
When demand is ________, it implies that more customers would like to buy the product than can be satisfied.
In the case of ________, consumers dislike the product and may even pay a price to avoid it.
Organizations catering to the ________ need to price their offerings carefully because these markets usually have limited purchasing power.
Which of the following is true of business markets?
A ________ is a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries.
Consider the real estate industry. The ________ for this industry includes construction companies, financing institutions, paint manufacturers, interior decorators, furniture manufacturers, and plumbing industries.
Automobile manufacturers, new car and used car dealers, financing companies, and insurance companies are all part of the automobile ________.
________ are basic human requirements, while ________ are the ways in which those requirements are satisfied.
When Frank buys his own house, he would like to have a home theater system and a jacuzzi. He plans to save enough money in the next three years so that he can fulfill his wish. Frank's desire for the home theater and the jacuzzi is an example of a(n) ________.
When companies measure the number of people who are willing and able to buy their products, they are measuring ________.
A(n) ________ need is one that the consumer is reluctant or unwilling to explicitly verbalize.
A(n) ________ need is a need that the consumer explicitly verbalizes.
The identification and profiling of distinct groups of buyers who might prefer or require varying product and service mixes is known as ________.
Companies address needs by putting forth a ________, a set of benefits that they offer to customers to satisfy their needs.
During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. These segments are called ________.
________ reflects a customer's judgment of a product's performance in relation to his or her expectations.
The value of an offering is described as ________.
When Volvo runs ads suggesting that its cars are the safest that money can buy, it is trying to ________.
If a marketer uses warehouses, transportation companies, banks, and insurance companies to facilitate transactions with potential buyers, the marketer is using a ________.
The ________ is the channel stretching from raw materials to components to final products that are carried to final buyers.
The actual and potential rival offerings and substitutes that a buyer might consider are referred to as the ________.
The ________ includes the actors involved in producing, distributing, and promoting an offering. The main actors are the company, suppliers, distributors, dealers, and the target customers.
In an attempt to create greater competition and growth opportunities, countries often ________.
Rising promotion costs and shrinking profit margins are the result of ________.
Industry boundaries are blurring rapidly as companies identify new opportunities at the intersection of two or more industries. This is called ________.
The success of online purchasing resulted in ________ in the delivery of products and services by intervening in the traditional flow of goods through distribution channels.
In response to threats from such companies as AOL, Amazon.com, Yahoo!, eBay, E*TRADE, and dozens of others, established manufacturers and retailers became "brick-and-click" oriented by adding online services to their existing offerings. This process is known as ________.
When eBay and Amazon.com cut out the majority of middlemen that normally would participate in the exchange process, it is an example of ________.
Disintermediation via the Internet has resulted in ________.
Each of the following is true about the Internet's impact on the way business is conducted today, EXCEPT one. Identify the exception.
The ________ process consists of analyzing marketing opportunities, selecting target markets, designing marketing strategies, developing marketing programs, and managing the marketing effort.
Kotler and Casoline suggested eight factors that marketers must keep in mind in order to deal with risk and uncertainty. Which of the following statements are they most likely to agree with when the environment is uncertain?
What are customer touch points?
Which of the following holds that consumers prefer products that are widely available and inexpensive?
Managers of ________ businesses concentrate on achieving high manufacturing efficiency, low costs, and mass distribution.
The ________ concept holds that consumers will favor offerings with the best quality, performance, or innovative features.
Which of the following categories of goods and services is most likely to require an aggressive use of the selling concept?
As a major steel manufacturer, SteelMakers Inc. focuses on having the most efficient manufacturing processes in place. The company believes that its competitive edge lies in its ability to offer the best prices. They also maintain an excellent distribution network that ensures wide availability of their products. SteelMakers has a ________.
Webmax Inc. produced and marketed cameras. After considerable research and development, they developed a new digital camera that had an array of new features. Webmax was so sure about the new offering that they even reduced their marketing budget. What sort of orientation does Webmax have toward the marketplace?
Rick Johnson trains his company's sales force to go after the consumer. He repeatedly asks his team to bear in mind the essential fact that it is the sales team's responsibility to rouse the consumer's interest and make him feel that he needs the product. A true salesman is one who can convert an indifferent consumer walking into the store into a new customer. Johnson believes in the ________ concept.
Marketers at Johnny Inc. believe in putting their customers ahead of everything else. Their products are carefully designed to meet customer requirements and the entire focus is on achieving customer satisfaction. Johnny Inc., follows the ________ concept in doing business.
The ________ concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization's products.
Identify the concept that emerged in the mid-1950s as a customer-centered, sense-and-respond philosophy.
The marketing concept holds that ________.
________ is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.
Which of the following is considered as a "sin" in the marketing discipline?
What are the four broad components of holistic marketing?
________ marketing aims to build mutually satisfying long-term collaboration with key constituents, such as customers, employees, suppliers, distributors, and other marketing partners, in order to earn and retain their business.
Tracy's is a chain of hair dressing salons for women. They use the television, magazines, radio, and newspapers to advertise their services. The owners ensure that all communication channels deliver a common message to prospective customers. Tracy's believes in ________.
The ultimate outcome of relationship marketing is a unique company asset called the ________, consisting of the company and its supporting stakeholders.
Which of the following is most consistent with the integrated marketing approach?
Which aspect of holistic marketing motivates employees and ensures that everyone in the organization embraces appropriate marketing principles, especially senior management?
Financial accountability and social responsibility marketing are elements of ________.
Companies are recognizing that much of their market value comes from ________, particularly their brands, customer base, employees, distributor and supplier relations, and intellectual capital.
Holistic marketing incorporates ________, an understanding of broader concerns in the ethical, environmental, legal, and social context of marketing activities.
The ________ holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being.
Joanna owns a chain of fast-food joints. As the chain became more and more successful, she decided to contribute a share of her profits each year to support cancer research. This is an example of ________.
McCarthy classified marketing activities into the four Ps of the marketing mix. These four Ps stand for ________.
Incorporating the holistic view of marketing, the four Ps of the marketing mix can be updated to ________.
Which of the following reflects the "people" component of the marketing mix?
Which of the four new Ps encompasses the old four Ps as well as a range of other marketing activities that might not fit well into the old view of marketing?
At the heart of any marketing program is the firm's ________, its tangible offering to the market.
________ activities include those the company undertakes to make the product accessible and available to target customers.
A marketer's only concern is how best to create demand for a new product produced by his company. Improving product design is not his responsibility.
A short definition of marketing is "meeting needs profitably."
Services constitute the bulk of most countries' production and marketing efforts.
The U.S. economy today consists of a 70-30 services-to-goods mix.
Place marketers include economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relations agencies.
Properties are tangible rights of ownership to either real property (real estate) or financial property (stocks and bonds).
"Friends Don't Let Friends Drive Drunk," is an example of marketing information to an interested audience.
Unwholesome demand occurs when consumers' purchases vary on a seasonal, monthly, weekly, daily, or even hourly basis.
When consumers share a strong need that cannot be satisfied by an existing product, they are exhibiting latent demand.
Advertising is the most important element in business marketing.
Companies selling their goods to nonprofit organizations often charge a premium over their normal prices because these organizations are largely indifferent to price.
Shops and stores have a physical existence and as such are examples of marketspace.
Wants are basic human requirements, such as food and shelter.
Demands are wants for specific products backed by an ability to pay.
Contrary to popular belief, marketers do not create needs.
The customer value triad consists of a combination of quality, durability, and price.
A distribution channel includes distributors, wholesalers, retailers, and agents that display, sell, or deliver the physical product or service(s) to the buyer or user.
The task environment of a firm consists of demographic, economic, natural, and technological environments, as well as the political-legal system and the social-cultural arena.
Regulation of industries has created greater competition and growth opportunities because the playing field has been leveled.
Industry boundaries are blurring at an incredible rate as companies are recognizing that new opportunities lie at the intersection of two or more industries.
The overabundance of information available on the Internet has made it more difficult for consumers to compare product features and prices.
Companies can facilitate and speed external communication among customers by creating online and off-line "buzz" through brand advocates and user communities.
The proliferation of targeted media and communication channels has allowed marketers to become much more aware of their target consumers' preferences and to customize both products and messages for individual consumers.
The production concept is one of the newest concepts in business.
The selling concept holds that consumers will favor those products that offer the most quality, performance, or innovative features.
The selling concept holds that consumers will prefer products that are ethical, environmentally responsible, legal, and social in the context of marketing activities and programs.
The marketing concept stresses on finding the right customers for the company's products.
The selling concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.
Relationship marketing aims to build mutually satisfying long-term relationships with key parties.
Attracting a new customer costs far more than retaining an existing one.
One of the key themes of integrated marketing is that there are very few marketing activities that can effectively communicate and deliver value.
Proponents of holistic marketing consider internal marketing to be as important as marketing to consumers.
Integrated marketing is the task of hiring, training, and motivating able employees who want to serve customers well.
Performance marketing requires understanding the financial and non-financial returns to business and society from marketing activities and programs.
Performance marketing involves reviewing metrics assessing market share, customer loss rate, customer satisfaction, and product quality in the evaluation of the effectiveness of marketing activities.
The social responsibility marketing concept holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being.
Adapting and conducting business practices that protect the environment and human and animal rights is specifically a part of corporate social marketing.
Cause-related marketing involves donating a percentage of revenues to a specific cause based on the revenue occurring during the announced period of support.
Making gifts of money, goods, or time to help nonprofit organizations, groups, or individuals is known as corporate philanthropy.
The marketing-mix component called "people" reflects all the creativity, discipline, and structure brought to marketing management.
A firm's tangible offering to the market includes product quality, design, features, and packaging.