Marketing 5th Edition

their marketing strategy, do they concentrate on satisfying their customers’ needs or wants? What about a utility company, such as the local power company? A humanitarian agency, such as Doctors without Borders? Needs are essential items that individuals cannot live without. These include necessities like shelter, health care, basic food and

Tips Brief Chapter Outline What is Marketing? Why is Marketing Important? Summing Up End of Chapter Learning Aids Chapter Case Study: A Starbucks Juggernaut Learning Objectives LO1 Define the role of marketing in organizations. LO2 Describe how marketers create value for a product or service. LO3 Understand why marketing is important, both within and outside the firm. Chapter Overview (“Summing Up”) LO1

Value Online Ask students: How many of you shop at Starbucks? What do you find most valuable about their products? Answers will include: It taste great, they are many choices, the company supports green initiatives. As the text indicates, there are many ways Starbucks distinguishes itself from similar companies. What is Marketing? Point out that

data warehouse. If you were the store’s buyer for lawn equipment, what would you want to know from the data warehouse that would help you be a more successful buyer? Students should be able to demonstrate their knowledge of data warehouses and data mining and be able to consider what information

Chapter Outline The Marketing Research Process Secondary Data Primary Data Collection Techniques Emerging Technology and the Ethics of Using Customer Information Summing Up End of Chapter Learning Aids Chapter Case Study: Autotrader.Com: How Research Separates Fact from Fiction Learning Objectives LO1 Identify the five steps in the marketing research process. LO2 Describe the various secondary data sources. LO3 Describe the various

that exploratory research was very important. How should Disney deal with the backlash among privacy experts and some consumers? McDonald’s Makeover Ask students: This clip demonstrates how McDonald’s used observational research to identify and understand their various target markets. Note: Please make sure that the video file is located in the same folder as

pants from LLBean would be part of the actual product and which would be part of the associated services? Features of the actual pants product might include brand name, design, durability, quality, fit and color. Features of the services associated with the delivery of the pants might include customer service, product

Study Additional Teaching Tips Brief Chapter Outline Complexity and Types of Products Product Mix and Product Line Decisions Branding Branding Strategies Packaging Summing Up End of Chapter Learning Aids Chapter Case Study: Oprah Winfrey, A Brand Unto Herself Learning Objectives LO1 Describe the components of a product. LO2 Identify the types of consumer products. LO3 Explain the difference between a product mix’s breadth and

Bull branded products? How did you feel about the product? Pushing the envelope is just what Red Bull wants its brand to be known for doing. By sponsoring events such as the space jump or even its annual Flugtag competition, Red Bull brands itself as fun, a little crazy, and ready for

to the market and has never existed before. Describe or give examples of other types of new products. Students must challenge the mindset of “new means completely new” and think about how marketers perceive the concept of product newness. Therefore, they might consider introducing an existing product to a new market,

Tips Brief Chapter Outline Why Do Firms Create New Products? Diffusion of Innovation How Firms Develop New Products The Product Life Cycle Summing Up End of Chapter Learning Aids Chapter Case Study: Is the Glass Half Full? The Launch of Google Glass Learning Objectives LO1 Identify the reasons firms create new products. LO2 Describe the different groups of adopters articulated by

Printing As more companies and consumers seek out 3D printers, their prices have dropped precipitously. The technology keeps improving, and the machines seem poised to take off. Ask students How could they see themselves using a 3D printer? Innovation and Value A new product can be anything from a slight redesign to new-to-the-world offerings. Ask students:

nor are they pure sellers of products. What services does a pizza restaurant provide? What goods does the post office provide? The service–product continuum concept discussed in this chapter notes that a company can be service dominant, product dominant, or somewhere in between. Most offerings lie somewhere in the middle and

Teaching Tips Brief Chapter Outline Services Marketing Differs From Product Marketing Providing Great Service: The Gaps Model Service Recovery Summing Up End of Chapter Learning Aids Chapter Case Study: Zipcar: Delivering only as Much Driving as you want Learning Objectives LO1 Describe how the marketing of services differs from the marketing of products. LO2 Discuss the four gaps in the

monitoring Twitter at all hours of the day. This is in order to be better about responding through social media to deal with more demanding customer. Ask students – what would be your expectations when buying online groceries and food? Service In a service economy, firms compete on how well they provide service

yourselves through college. There are two other well-established pet services in your area. Should you set your price higher or lower than that of the competition? Justify your answer. Students could consider two key factors: value provided and perceptions of quality. Whether we establish a price that is higher or lower than

Study Additional Teaching Tips Brief Chapter Outline The Five Cs of Pricing Macro Influences on Pricing Summing Up End of Chapter Learning Aids Chapter Case Study: Planet Fitness: Pricing for Success Learning Objectives LO1 List the four pricing orientations. LO2 Explain the relationship between price and quantity sold. LO3 Explain price elasticity. LO4 Describe how to calculate a product’s break-even point. LO5 Indicate

pay for laundry detergent? Ask students why they will pay the prices they mention? It really comes down to the benefits and value they place on their favorite laundry detergent. The 5 C’s of Pricing The following slides discuss each C in detail; alternatively, you can use this graph as a basis for

a fixed percentage onto the cost of each product to arrive at the retail price. Evaluate this technique. What would you do differently? The benefit of this type of cost-based pricing is that it is relatively simple to use and assumes that costs will not vary much. However, this pricing method

Tips Brief Chapter Outline Considerations for Setting Price Strategies Pricing Strategies Pricing Tactics Legal and Ethical Aspects of Pricing Summing Up End of Chapter Learning Aids Chapter Case Study: Price Wars in The Cellular Market Learning Objectives LO1 Identify three methods that firms use to set their prices. LO2 Describe the difference between an everyday low price strategy (EDLP) and a

projections that it would sell approximately 250 million orders. Ask students Should McDonald’s sell chicken wings? If so, then how much would you pay? Pricing Strategies Note the many factors that go into formulating a pricing strategy and discuss why some strategies choose not to take into consideration the value that consumers place

a company’s offerings, with regard to both consumers and business partners. � A marketing channel is the set of institutions that transfer the ownership of and move goods from the point of production to the point of consumption.� A marketing channel consists of all the institutions and marketing activities in the marketing

End of Chapter Learning Aids ·         Chapter Case Study ·         Additional Teaching Tips   Brief Chapter Outline   The Importance of Marketing Channel/Supply Chain Management Designing Marketing Channels Managing the Marketing Channel and Supply Chain Making Information Flow through Marketing Channels Making Merchandise Flow through Marketing Channels Summing Up End of Chapter Learning Aids Chapter Case Study: Zara Delivers Fast Fashion     Learning Objectives   LO1     Understand

distribution efficiencies through technology innovations. Amazon Ask students: How has Amazon aligned its systems. The opening vignette describes distribution efficiencies through technology innovations. The Importance of Marketing Channel/ Supply Chain Management Students of marketing often overlook or underestimate the importance of place in the marketing mix, simply because it happens behind the scenes. Yet marketing channel

uses a selective distribution strategy.  A selective distribution lies between the intensive and exclusive distribution strategies; companies that engage in selective distribution use a few selected customers in a territory.  An intensive distribution strategy would mean that Reebok sells through every vendor it can; whereas if Reebok had an exclusive

of Chapter Learning Aids ·         Chapter Case Study ·         Additional Teaching Tips   Brief Chapter Outline   Choosing Retailing Partners Identify Types of Retailer Developing a Retail Strategy Using the Four Ps Benefits of Stores for Consumers Benefits of the Internet and Multichannel Retailing Effective Multichannel Retailing Summing Up End of Chapter Learning Aids Chapter Case Study: Target and Its New Generation of Partnerships     Learning

its flagship Times Square store, it aimed to create not just the most exciting store in the fashionable chain’s range of locations but also perhaps the most cutting-edge example of retail in the world. Ask Students Do they shop at high-end department stores like H&M. If so, then why. If not,

during the NBC Nightly News and in print in Time magazine. The message is designed to announce new styles for the season and uses a 18-year-old woman as the model. Evaluate this strategy, and if appropriate propose an alternative. � To succeed, each element of an IMC strategy must have a well-defined

of Chapter Learning Aids ��������� Chapter Case Study ��������� Additional Teaching Tips � Brief Chapter Outline � Communicating with Consumers Elements of an Integrated Marketing Communication Strategy Planning For and Measuring IMC Success Summing Up End of Chapter Learning Aids Chapter Case Study: How Integrated is Volvo’s IMC Strategy? � � Learning Objectives � LO1���� Identify the components of the communication process. LO2���� Explain the four steps

is such a well-defined brand that its communications would be automatically consistent across marketing channels. But as sales of its iconic Coke and Diet Coke brands have suffered some stagnation in recent this assumption has required some rethinking. Ask students Do products like Coke and Diet Coke fit into their nutritional

campaigns aim to achieve certain objectives: to inform, persuade,and remind customers. Another way of looking at advertising objectives isto examine an ad’s focus. � Overall, the focus of this ad is to inform consumers that one of its main ingredients (meat) is hormone and/or antibiotic free. The objective would be to attract

of Chapter Learning Aids ��������� Chapter Case Study ��������� Additional Teaching Tips � Brief Chapter Outline � Identify Target Audience Set Advertising Objectives Determine the Advertising Budget Convey the Message Evaluate and Select Media Create Advertisements Assess Impact Using Marketing Metrics Regulatory and Ethical Issues in Advertising Public Relations Sales Promotion End of Chapter Learning Aids Chapter Case Study: Making MasterCard Priceless � � Learning Objectives � LO1���� Describe the steps in

Grill Chipotle has adopted a marketing plan that spans a range of media. In animated YouTube films, two artful spots feature characters that reject a factory model of food production by embracing farm-fresh vegetables and meats. Ask students Does environmentally friendly sourcing make a difference in choosing a restaurant? Steps in Planning an

Adidas have created sustainable competitive advantages for themselves by building brand awareness through strategic sponsorships, unique advertising campaigns, and efficient operations. Perform a SWOT analysis for the company that made your favorite shoes. Students’ answers will vary. Each answer should include strengths and weaknesses that are internal to the shoe manufacturer and

Aids Chapter Case Study Additional Teaching Tips Brief Chapter Outline What is a Marketing Strategy? The Marketing Plan Growth Strategies Summing Up End of Chapter Learning Aids Case Study: The Great Yogurt Battle Learning Objectives LO1 Define a marketing strategy. LO2 Describe the elements of a marketing plan. LO3 Analyze a marketing situation using SWOT analyses. LO4 Describe how a firm chooses which consumer

in the following slides. Nike Students will most likely be familiar with Nike products. Ask Students to comment on any commercials they can recall and the company itself. Students will start to mention many topics in the chapter including target markets, marketing mix and sustainable competitive advantage. Sustainable Competitive Advantage This slide covers the four

in sales changed since you read this chapter? Students may have had very different ideas about the selling profession prior to reading the chapter, and their answers will vary. This question encourages them to demonstrate what they have learned and how this chapter has altered their thinking. Students might be surprised

of Chapter Learning Aids ��������� Chapter Case Study ��������� Additional Teaching Tips � Brief Chapter Outline � Identify Target Audience Set Advertising Objectives Determine the Advertising Budget Convey the Message Evaluate and Select Media Create Advertisements Assess Impact Using Marketing Metrics Regulatory and Ethical Issues in Advertising Public Relations Sales Promotion End of Chapter Learning Aids Chapter Case Study: Making MasterCard Priceless � � Learning Objectives � LO1���� Describe the steps in

Grill Chipotle has adopted a marketing plan that spans a range of media. In animated YouTube films, two artful spots feature characters that reject a factory model of food production by embracing farm-fresh vegetables and meats. Ask students Does environmentally friendly sourcing make a difference in choosing a restaurant? Steps in Planning an

relevant offers, educate them about the offering, help them experience products (directly or indirectly), give customers an opportunity to engage with the company and the company’s social network. The Gatorade Mission Control Centeris a room that sits in the middle of the marketing department and could best be thought of as

Teaching Tips Brief Chapter Outline The 4E Framework for Social Media Categories of Social Media Going Mobile and Social How Do Firms Engage Their Customers Using Social Media? Managing Your Individual Brand Value in a Social Media World Summing Up End of Chapter Learning Aids Chapter Case Study: Images, Sales, Brands: How Red Bull Uses Various Social Media Techniques

slides. Dell Through Facebook, LinkedIn, Twitter, and Google +, as well as Dell’s flagship blog Direct2Dell.com and a host of other blogs, it has vastly diversified its marketing channels to target each different audience. Ask students how do they think the vast amounts of information shared through social media can be used to

discern where a shopper starts the search process, how he or she proceeds, and where the online encounter ends - as well as what he or she buys, or doesn’t. A long history of arguments - even before the computer era - debated the acceptability of wire taps on telephones, whether

Tips Brief Chapter Outline The Scope of Marketing Ethics Ethical Issues Associated with Marketing Decisions Integrating Ethics into Marketing Strategy Corporate Social Responsibility Summing Up End of Chapter Learning Aids Chapter Case Study: Is There an App for Good Parenting? LEARNING OBJECTIVES LO1 Identify the ethical values marketers should embrace. LO2 Distinguish between ethics and social responsibility. LO3 Identify the four steps

mobile phone can provide personally identifying information to a massive data repository, accessible to various marketers and government agencies. Ask students Should firms and/or the government have the right to gather specific information (e.g., recordings) or only metadata (e.g., general information about the number called, when, and for how long)? Firm Goals Profit

are your competitors? What would you do to monitor your competitors’ actions? Who are your customers? What are you going to do to appeal to them? What are your social responsibilities, and how will you meet them? This question asks students to think about what it would take to open a

Teaching Tips Brief Chapter Outline A Marketing Environment Analysis Framework The Immediate Environment Macroenvironmental Factors Summing Up End of Chapter Learning Aids Chapter Case Study: A Next-Generation Cleanser Learning Objectives LO1 Outline how customers, the company, competitors, and corporate partners affect marketing strategy. LO2 Explain why marketers must consider their macroenvironment when they make decisions. LO4 Identify various social trends that

slides. Travelodge Services such as hotel chains must constantly adapt to changing customer needs by transforming itself into one of the most innovative sectors marketing its services today. Ask students: What’s to describe their version of a “desirable” hotel or motel offering. A Marketing Environment Analysis Framework In all marketing activities, the consumer is at

Kashi brand manager better promote the product? Kashi cereal satisfies a consumer’s psychological need. While cereal might provide a basic functional need (to satisfy a consumer’s hunger), Kashi cereal appeals to more psychological needs, including the need to eat healthy or a social desirability need. Some consumers might choose to eat

Chapter Outline The Consumer Decision Process Factors Influencing the Consumer Decision Process Involvement and Consumer Buying Decisions Summing Up End of Chapter Learning Aids Chapter Case Study: The Diet Battle: Weight Watchers, Jenny Craig, and Slim-Fast Learning Objectives LO1 Articulate the steps in the consumer buying process. LO2 Describe the difference between functional and psychological needs. LO3 Describe factors that

as A. individual brands. B. family brands. C. corporate brands. D. traditional brands. E. umbrella brands. Answer:[cpmembership level="2,3,4,5"]A. Old Spice and Iams are individual brands, separate brand names for different product lines.[/cpmembership] One product strategy used by retailers to differentiate themselves from competitors is A. the use of private-label brands. B. discount pricing. C. removing brand labels from their merchandise offerings. D.

the customer with convenience and satisfaction.[/cpmembership] The four Ps of the marketing mix include product, promotion, planning, and place. Answer:[cpmembership level="2,3,4,5"] FALSE The four Ps of the marketing mix are product, price, promotion, and place.[/cpmembership] A complex product that is best described in writing will be difficult to explain to consumers who are unable to

a firm in what kind of buying situation? A. new buy B. modified rebuy C. straight rebuy D. generic buy E. adapted buy Answer:[cpmembership level="2,3,4,5"]C. A straight rebuy occurs when the company is buying more of a product it has bought in the past. It sounds like Phil's customer places straight rebuy orders frequently.[/cpmembership] Saltdust Grill is known

only part of the overall promotional plan, they do not need to be explicit or measurable. Answer:[cpmembership level="2,3,4,5"] FALSE All IMC goals should be explicitly defined and measurable.[/cpmembership] When analyzing the immediate environment and the macroenvironment, marketers must be careful to keep the firm at the center of all analyses. Answer:[cpmembership level="2,3,4,5"] FALSE The consumer, not the

of the other 800 million Indian consumers are primarily addressing their __________ needs. A. social B. personal C. psychological D. esteem E. physiological Answer:[cpmembership level="2,3,4,5"]E. Many people in India are living at a subsistence level, able to afford little but basic necessities (if that). This indicates that they are at the lowest level in Maslow's hierarchy, physiological

beer market. A. demographic B. psychographic C. behavioral D. benefits E. geographic Answer:[cpmembership level="2,3,4,5"]A. Age, education, and gender are demographic variables.[/cpmembership] Typically, B2B buyers ask potential suppliers to A. write the RFP for the buyer. B. submit formal proposals. C. sponsor interviews with final customers in order to determine product needs. D. always be involved in reselling. E. organize themselves into selling cooperatives. Answer:[cpmembership

level="2,3,4,5"] FALSE Even though the children are not actually employed by the U.S. firm, its reputationand perhaps even its salesmay suffer from public disclosure of the labor practices of its suppliers.[/cpmembership] When Sony released its PlayStation 3 game machines, it charged a high price, attracting the most avid game players. This was a

targeting strategy. A. macromarketing B. micromarketing C. benefit-based D. differentiated E. undifferentiated Answer:[cpmembership level="2,3,4,5"]B. A corporate pilot fish will probably start with a very small group of customers and contacts, leading to a micromarketing strategy in which very small segments are targeted.[/cpmembership] The importance of supply chain management is often overlooked in the study of marketing because A. marketing

not psychographics.[/cpmembership] Determinant attributes are product or service features that are important to the buyer and on which competing brands or stores are perceived to differ. Answer:[cpmembership level="2,3,4,5"] TRUE This is the definition of determinant attributes.[/cpmembership] STP refers to segmentation, testing, and promotion. Answer:[cpmembership level="2,3,4,5"] FALSE STP stands for segmentation, targeting, and positioning.[/cpmembership] Customers are more likely to talk

rebates D. cumulative quantity discounts E. noncumulative quantity discounts Answer:[cpmembership level="2,3,4,5"]B. Coupons are used for a variety of reasons, including encouraging trial, adding value, and building and rewarding loyalty.[/cpmembership] As it pertains to the diffusion of innovation, if the __________ group is relatively small, the number of people who ultimately adopt the innovation likely will

level="2,3,4,5"] FALSE Product line depth (not breadth) equals the number of products within a product line, as in this question.[/cpmembership] In value cocreation, the customer participates in the creation of a good or service, which provides additional value to the customer. Answer:[cpmembership level="2,3,4,5"] TRUE In value cocreation, the firm and the customer work together to create

asked about a product.[/cpmembership] Hilton Hotels trains its front desk employees to dress neatly and conservatively to project a professional image. This relates to the service dimension of tangibles. Answer:[cpmembership level="2,3,4,5"] TRUE The category of tangibles includes the appearance of facilities, equipment, personnel, and communication materials.[/cpmembership] A pricing strategy and a pricing tactic are essentially

and identification labels.[/cpmembership] Zara is a women's clothing retailer headquartered in Spain, with stores located in many countries. Zara has developed a "quick response" system that allows store merchandise to be adjusted rapidly to fit changing customer preferences. Every aspect of Zara's operation is optimized for this system, making it difficult

curve follows the following sequence: innovators, early majority, early adopters, late majority, and laggards. Answer:[cpmembership level="2,3,4,5"] FALSE The diffusion of innovation curve generally follows a bell-shaped curve made up of innovators, early adopters, early majority, late majority, and laggards.[/cpmembership] In a joint venture, the burden of ownership, control, and profits is not shared. Answer:[cpmembership level="2,3,4,5"] FALSE Joint

salespeople who sell a manufacturer's products on an extended contract basis but are not employees of the manufacturer.[/cpmembership] Warren is conducting a marketing research project. He is not sure what questions to ask or what types of consumers he should talk to. Therefore, Warren should begin by conducting quantitative research. Answer:[cpmembership level="2,3,4,5"] FALSE Warren

for the quality of renewable.[/cpmembership] __________ is when vendors ship merchandise prepackaged in the quantity required for each store to the distribution center. A. Quick response B. Checking C. Combination warehousing D. Cross-docking E. Horizontal merchandising Answer:[cpmembership level="2,3,4,5"]D.Cross-docking refers to items that are received prepackaged for individual stores.[/cpmembership] The Gaps Model is designed to highlight those areas where A.

derived demand inelastic. Answer:[cpmembership level="2,3,4,5"]B. Demand is said to be price inelastic if a percentage increase in price results in a smaller percentage increase in demand.[/cpmembership] The government has enacted laws that promote both fair trade and competition by prohibiting the formation of monopolies or alliances that would damage a competitive marketplace, fostering

of relationships and the development of a better understanding of customers' needs and wants. A customer relationship management (CRM) program uses a set of strategies, programs, and systems that focus on identifying and building loyalty among the firm's most valued customers.[/cpmembership] As noted in your text, global segmenting, targeting, and positioning

elements. D. photo credits. E. subheads. Answer:[cpmembership level="2,3,4,5"]B. The body copy represents the main text portion of the ad. It builds on interest generated by the visual and headlines, explains in more depth what the headline and subheads introduced, arouses desire for the product, and provides enough information to move the target consumer to

frequency of exposure for this reason.[/cpmembership] Geraldine is in NEC's sales training program. She will probably be taught that all a salesperson needs to do is ask questions. Answer:[cpmembership level="2,3,4,5"] FALSE While asking questions is an important part of a sales job, carefully listening to the answers is equally important.[/cpmembership] Cost-based methods do not recognize

and then moved the product into other markets around the world, the firm is engaged in A. a consortia. B. reverse innovation. C. competitive engineering. D. pioneering. E. beta testing. Answer:[cpmembership level="2,3,4,5"]B. Reverse innovation is when companies initially develop products for niche or underdeveloped markets, and then expand them into their original or home markets.[/cpmembership] Every year before

the manufacturer due to a retailer legally circumventing channels of distribution.[/cpmembership] Firms that primarily sell products view service as a method to maintain a sustainable competitive advantage. Answer:[cpmembership level="2,3,4,5"] TRUE Services play a role in almost every firm's strategy, even those that primarily sell products.[/cpmembership] The terms external secondary data and syndicated data mean the

pursue and developing a marketing mix to obtain a competitive advantage C. understanding the supply chain and distribution networks in foreign markets D. developing culturally appropriate advertising messages and cultivating "domestic" habits among foreign consumers E. adapting to foreign regulations and targeting as many people as possible Answer:[cpmembership level="2,3,4,5"]B. Just like any other marketing strategy,

a payment made at management's discretion when the salesperson attains certain goals.[/cpmembership] Charging a relatively high price for new and innovative products to those consumers most willing and able to pay the high price is called price A. penetration. B. bundling. C. fixing. D. referencing. E. skimming. Answer:[cpmembership level="2,3,4,5"]E. There are two primary new product pricing strategies: skimming,

younger than that of the United States currently, at 36.3 years, the application of the one-child policy means that China is one of the most rapidly aging countries in the world.[/cpmembership] The __________ step in the product development process is critical, requiring tremendous resources and extensive coordination of all aspects of

announcement. Answer:[cpmembership level="2,3,4,5"]E. This is an example of a public service announcement, which is a message focused on public welfare.[/cpmembership] Which of the following research methods would be best in helping a marketer understand how people feel about a product or service on an individual, detailed level? A. focus groups B. surveys C. social media monitoring D.

to generate demand. D. they rarely engage in personal selling. E. they sell to customers for their personal use. Answer:[cpmembership level="2,3,4,5"]E. Retailers sell to the end customer, who can be either a consumer or a business, for their own use (i.e., not for resale).[/cpmembership] Bertone's Office Supplies has large stores resembling warehouse environments, with racks

and after making purchases. D. the shift from an internal to an external locus of control. E. the types of decisions all consumers must make. Answer:[cpmembership level="2,3,4,5"]C. The consumer decision process model identifies steps involved in purchasing decisions, including before, during, and after making purchases.[/cpmembership] Rock-Bend Company is considering buying out a competing firm and

production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented Answer:[cpmembership level="2,3,4,5"]D. Serena is attempting to understand her customers' perceptions of value.[/cpmembership] Which of the following is not one of the important functions of labels on products and packages? A. protecting against damage to the product B. providing consumer information to assist in purchasing C. identifying the brand and building

tester E. concept tester Answer:[cpmembership level="2,3,4,5"]C. Pioneer firms establish completely new markets or radically change both the rules of competition and consumer preferences in a market. In this case, the MPMan created the market for MP3 players, even though it was not successful in the long run.[/cpmembership] The global athletic footwear market is expected

Pacific Islander C. Hispanic D. Asian E. African American Answer:[cpmembership level="2,3,4,5"]E. This describes African Americans.[/cpmembership] A relational orientation is based on the philosophy that buyers and sellers develop A. a complete understanding of one another's needs. B. a long-term relationship. C. a price-value comparison matrix. D. supply chain synergy. E. a marketing value transaction focus. Answer:[cpmembership level="2,3,4,5"]B. A relational orientation expects a relationship

merchandise documentation. Flora needs a(n) A. cross-docking exchange. B. electronic data interchange system. C. vendor-managed inventory system. D. vertical conflict reduction system. E. radio frequency identification system. Answer:[cpmembership level="2,3,4,5"]B. Electronic data interchange (EDI) is the computer-to-computer exchange of business documents from a retailer to a vendor and back.[/cpmembership] Service employees at the airlines' flight cancellation desks frequently encounter

level="2,3,4,5"]A. A service retailer is a firm that primarily sells a service rather than merchandise.[/cpmembership] __________ fairness refers to the perceived fairness of the process with which a firm handles customer complaints. A. Procedural B. Intangible C. Distributive D. Service E. Empowerment Answer:[cpmembership level="2,3,4,5"]A. Fairness is assessed based on the outcome (distributive fairness) and also the process by which

desired state D. universal set and evoked set E. external and internal information search Answer:[cpmembership level="2,3,4,5"]C. The consumer decision process begins when consumers recognize they have an unsatisfied need, and they would like to go from their actual, needy state to a different, desired state. The greater the discrepancy between these two states, the

need to avoid creating a cost competitive parity debate. E. customers are always right. Answer:[cpmembership level="2,3,4,5"]C. Consumers choose to buy a product, or not, based on their assessment of value. To price solely based on cost is to ignore this key factor.[/cpmembership] What type of interview contains a small group of participants and a

delivery systems E. Extreme value offers and specialty share of the wallet programs Answer:[cpmembership level="2,3,4,5"]B. Store credit cards and gift cards will encourage customers to spend in one store as opposed to another.[/cpmembership] In Arthur Miller's play, Death of a Salesman, Willie Loman portrays A. a leading example of an ethical salesman. B. the loneliness of

customers to meet their own expectations. Answer:[cpmembership level="2,3,4,5"]C. The most important thing a marketer needs to meet or exceed expectations is an accurate sense of what those expectations are; otherwise, the firm is reduced to guessing and hoping for the best.[/cpmembership] During the preapproach stage, a salesperson usually conducts additional research about prospects

power distance. D. consistent with underlying cultural values in a country. E. with more consistent time orientation. Answer:[cpmembership level="2,3,4,5"]D. Marketers analyze cultures using Hofstede's five dimensions to help them to design culturally appropriate marketing plans based on underlying cultural values.[/cpmembership] Sophia could not afford expensive furnishings, but wanted a stylish home. After researching many options,

that are important to buyers, and that the buyer perceives to be different between brands.[/cpmembership] The four Ps make up the marketing mix, which is the __________ set of activities that the firm uses to respond to the wants and needs of its target markets. A. unpredictable B. external C. internal D. controllable E. global Answer:[cpmembership level="2,3,4,5"]D. The

friends. Pam is demonstrating an internal locus of control. Answer:[cpmembership level="2,3,4,5"] FALSE By letting her friends' opinions control her actions, and then blaming them for her decision, she is demonstrating an external locus of control.[/cpmembership] Effective packaging and labels send consumers the signal "Buy me." Answer:[cpmembership level="2,3,4,5"] TRUE Good packaging and labeling can grab the consumer's attention

make it difficult to collect demographic information. D. create a demand for a new generational cohort. E. make it more difficult for companies to differentiate their products. Answer:[cpmembership level="2,3,4,5"]B. Regional cultures represent differences between regions of a country. The more people move from one region to another, the more the cultures will tend to

as qualified leads B. agree with everything he says C. raise objections D. offer advice E. return unacceptable merchandise Answer:[cpmembership level="2,3,4,5"]C. Customers are more likely to raise objections (also called reservations) during the sales presentation than at other times. It is important for the sales rep to be prepared for this to happen.[/cpmembership] The Mayo Clinic in

likely than women to channel surf during commercial breaks. Given this fact, this type of advertising will be more useful to marketers engaged in __________ segmentation. A. demographic B. psychographic C. behavioral D. benefits E. geographic Answer:[cpmembership level="2,3,4,5"]A. Gender is a demographic variable.[/cpmembership] Traditionally, marketers have seen the role of __________ as generating short-term results, whereas the goal

the point of doing harm. C. include the MSRP. D. use advertising allowances to increase sales promotion. E. use price skimming after using price penetration. Answer:[cpmembership level="2,3,4,5"]B. Ethical marketers should not engage in deceptive pricing tactics such as bait-and-switch pricing, or the use of deceptive reference prices.[/cpmembership] Most big box retailers regularly move products from one

seekin other words, the value they will obtainfrom the product.[/cpmembership] The old clich 'service with a smile" recognizes the fact that A. service providers need to be pleasant even if the customer is not. B. smiling is contagious. C. service providers should smile and not think. D. life is too short to be ugly. E. services

differentiated targeting strategy target several market segments with a different offering for each.[/cpmembership] Kelly is the head of marketing for a nonprofit agency that supports the arts. She just received the go-ahead from her board of directors to conduct the agency's first-ever advertising campaign. Her first step will be to A. identify

value. E. managing price and performance. Answer:[cpmembership level="2,3,4,5"]B. The question describes the place component of the marketing mix, which involves managing the supply chain.[/cpmembership] Because there are many firms in monopolistic competition markets, A. everyone is a price taker. B. producers do not have to consider the reactions of rival firms. C. government often encourages consolidation to

a global _________ strategy. A. communication B. product C. promotion D. distribution E. pricing Answer:[cpmembership level="2,3,4,5"]D. This is a global distribution strategy as it relates to the distribution channel chosen by Core Publishing Company.[/cpmembership] Briena is looking at the results of a syndicated study conducted two years ago. Briena is looking at primary data. Answer:[cpmembership level="2,3,4,5"] FALSE Data collected in advance

particular market and is looking at the sales of the product and the overall market as well as the sales of competitors. Heather is trying to determine A. the product's relative market share. B. the market growth rate. C. a source of competitive advantage. D. the impact of population shifts on future demand. E. cash

touch points, and finally implement (or do) social media tactics to excite customers.[/cpmembership] The highest level of awareness occurs when customers mention a specific brand name when asked about a product or service. Marketers call this A. the primacy effect. B. aided recall. C. top-of-mind awareness. D. category dominance. E. elevated awareness. Answer:[cpmembership level="2,3,4,5"]C.Top-of-mind awareness means that