Exam 13: Marketing: Helping Buyers Buy

Market segmentation is the process of dividing a market into several groups whose members have dissimilar characteristics.

Which of the following strategies provides an example of the most current era whose principles today's businesses are embracing?

Which of the following is part of the marketing process?

In the marketing research process, marketers should examine alternative solutions before making a recommendation.

H2 O'Yeah has designed a water purification device that is drastically different and far superior to any product currently on the market. Although consumer response was positive to the idea of the new product, management wants to find out more before committing to full-scale production. The next step H2 O'Yeah's marketing department is likely to take is to:

Which of the following is consistent with relationship marketing?

The significant increase in consumer demand following World War II marked the beginning of the

It is the job of marketers today to persuade consumers to buy the goods and services those marketers have available to sell.

Mini-Case Briana, a successful executive, is also a cardio queen. For years she worked out at Forever Fitness Gym, the only gym in her small hometown. However, she felt that the environment at Forever Fitness was too masculine, and discovered that her female friends agreed. They disliked the small, smelly locker room, and the limited selection of cardio equipment. Most of them eventually quit going to Forever Fitness. Briana talked to Jim Nasium, the owner of Forever Fitness, about things he could do to attract more women, but he had little interest in making any changes. "I've got all the business I can handle," he told Briana. "Why should I spend a bunch of money to redecorate and add extra equipment? Besides, lots of the guys who work out here tell me they like the simple, no-frills atmosphere." Frustrated by Jim's indifference, Briana began looking into the possibility of starting a gym to appeal to young, well-educated women. After visiting gyms in other towns and talking to several friends to get ideas, she came up with a detailed plan for her gym. She then described her ideas to women in the community to see how much interest there was in this type of facility. The extremely positive response encouraged her to go ahead with her plans. It took a while, but she ultimately obtained the financial backing to go into business. Briana calls her new health club ShapeUP. It offers a spacious and attractive locker room, better cardio equipment, a child care area so young mothers can have someone watch their toddlers while they work out, and exercise classes designed to appeal to young women. When a woman joins her club, Briana schedules a free session with a personal trainer who works with the new member to design a personalized workout program. Briana tries hard to keep close to her customers by maintaining a social media presence, sending them a monthly e-mail newsletter, and routinely sending surveys asking what they like and don't like about ShapeUP. She wants to please her existing customers and keep them coming back. In fact, now that ShapeUP has a strong membership base, Briana believes it is more important to keep existing customers loyal than to attract new customers. In addition to the comments from her own customers, Briana also spends a lot of time tracking economic, social, and competitive trends in the fitness industry, trying to identify factors that can affect the marketing success of her club. She subscribes to several journals and magazines that cover trends and report on research findings related to the business. She has found that these publications provide her with an inexpensive source of useful information. -The fact that ShapeUP is designed to appeal to women of a certain age, education, and income level means that Briana is using

As a personal trainer at a local gym, Marie has been invited by a publisher to meet with nine other people to discuss a new concept for a health and fitness magazine. A member of the publisher's marketing staff will be at the meeting to guide the discussion and to record the participants' comments and suggestions. If Marie accepts the invitation, she will be participating in a focus group.

Liberty Autos recognizes that it has some customers who like roomy SUVs, while others like more compact versions. Liberty designs and manufactures several models to satisfy the different tastes and lifestyles of its customers. Customers who want traditional SUV luxury and seldom settle for anything other than leather interiors, would prefer the Regal model. Rapido customers might be described as sportier and typically women. Fans of the Cowboy model may include a group that is seldom over 30 years of age, typically male, and have often served in the U.S. military. By recognizing differences in its customers and using different characteristics to define its customers, Liberty Autos is

Marketing involves developing and promoting a firm's products and allowing the firm's purchasing department to make all distribution and transportation decisions.

A comparison of the marketing concept and customer relationship management indicates that customer relationship management

The ________ is based on three elements: (1) a customer orientation, (2) a service orientation, and (3) a profit orientation.

The management at Slick Automotive has replaced their outdated marketing approach with an approach that emphasizes relationship marketing. Under this new approach, Slick's salespeople will be expected to devote less time to current customers and a larger share of their time searching for new customers.

The idea behind customer relationship management is to enhance customer satisfaction and stimulate long-term customer loyalty.

During the ________ era, the prevalent business philosophy turned from an emphasis on production to an emphasis on advertising and selling.

________ marketing is the marketing of products to groups of customers a firm decides it can serve profitably.

Which of the following describes individuals that want goods and services for personal consumption and have the resources to buy them?

A ________ group consists of a small group of people who meet under the direction of a discussion leader to discuss opinions about an organization, its products, or other issues.