Exam 13: Marketing: Helping Buyers Buy

The number of buyers in B2B markets is

Firms adopting a relationship marketing strategy often establish an online presence to communicate with customers.

Understanding consumers in marketing is considered so important that a whole area of marketing called ________ emerged.

The business-to-business (B2B) market involves the marketing of goods and services to institutions that sell, rent, produce, or supply goods to others.

Marketing is different in B2B markets than in consumer markets. Identify and explain three differences between the business-to-business market and the consumer market.

According to the ________ concept, a firm must (1) find out what customers want and provide it, (2) make sure everyone in the organization has customer satisfaction as an objective, and (3) provide goods and services that will earn a profit.

Outstanding service after the sale was a primary focus of businesses during the selling era.

In general, the broader the market a firm tries to serve, the better its chances of success.

The marketing concept has three parts: (1) a consumer orientation, (2) a service orientation, and (3) an advertising orientation.

Buyers in the B2B market tend to make more rational decisions than buyers in the consumer market.

Engineers at Epic Electronics have designed a new smartphone ready to rival iPhone. The marketing department wants to find a way to identify the new phone in the minds of current smartphone consumers and differentiate it from products made by Epic's competitors. An important part of this effort is likely to be the selection of a ________ for the new phone.

B2B marketers include manufacturers, retailers, hospitals, and the government.

The strategy of focusing on small but profitable market segments is called micro marketing.

The marketing concept was used heavily by business when it was first suggested in the 1950s.

Brad is a real estate agent. He recently had an idea for a program to help perform appraisals more quickly and more accurately. He has a buddy who is a programmer that has helped him develop a detailed description of what the program will do and how it differs from existing apps. Now, Brad has taken this description and shown it to a number of fellow real estate agents to see if his idea appeals to them. What is Brad engaging in?

A basic principle of relationship marketing is that firms should concentrate on producing and promoting products that appeal to large groups of people.

Khloe only purchases designer jeans and high-priced stilettos endorsed by her favorite entertainers. On top of that, her attitudes and values are shaped by specific statements made by these celebrities. She also supports causes and charities the celebrities endorse. This illustrates how consumer decision making is influenced by

Which of the following marketing eras refers to the time period from our country's first settlers through the early 1900s?

The marketing process includes decisions about the best way to get the product to the consumer.

Marketing research needs to be an ongoing process at a firm since changes in the marketplace and among consumers is a continuous process.