Exam 10: Marketing: Providing Value to Customers

_____ is not among the groups into which marketers divide most Americans born in the last 70 years.

Online surveys are easier to answer but get poorer response rates than telephone surveys.

Stevens Outdoor Furniture has just introduced a new line of products in the southeastern United States. Owner James Bilby discovered the new line, which includes outdoor furniture and other lawn items, on a recent vacation to California. The market is extremely promising because none of his main competitors stocks this type of furniture. He’s concerned, however, about pricing because shipping costs will drive his prices higher than those charged by stores closer to the manufacturer’s West Coast factory. Initial promotion and advertising costs, as well as warehousing expenses, are also on Bilby’s mind. He’s called a teleconference with his ten store managers to develop a pricing strategy that must take effect immediately. -Demand-based pricing would never work in this situation.

The dairy industry still uses cow’s milk as the base for its varied products. Over time, however, competition from other types of milk has forced changes in the traditional American taste for milk, ice cream, cheese, cottage cheese, yogurt, frozen yogurt, and sherbet. Currently, for example, soy milk and other related items are making inroads in this traditional market. -In this scenario,the product life cycle actually has _____.

Starbucks has a number of effective social media campaigns including:

The promotion mix includes all the tools for telling people about a product and persuading potential customers to buy it.

A firm that markets a product with no branding information attached to the packaging except a description of its contents is using _____ branding.

When you make your first purchase on Amazon.com,you've enlisted a lifelong acquisitions advisor-someone who will constantly suggest other things that you might like to buy.Amazon.com is applying the concept of _____.

_____ is the process of collecting and analyzing data that's relevant to a specific marketing situation.

A few years ago,when Nike was charging $140 for a pair of jogging shoes,the company was using a strategy of _____ pricing.

Social media marketing presents companies with a number of challenges including:

Getting your product mentioned in the newspaper is free promotion.

The following is true for the product you manufacture and sell: Sales are growing,but at a decreasing rate.You're spending a lot on advertising to differentiate yourself from the competition.Prices are dropping although your profits are still good because of high sales volume.Which life-cycle stage is your product in?

When we identify a specific group of consumers that have particular interests in our product,access to it,and the means to buy it,we've identified our target market.

The marketing mix consists of all of the following except _____.

According the U.S.Department of Transportation,the _____ is the transportation mode of choice for most goods.

In order to put a marketing concept into practice,you need a _____ for performing two tasks: selecting a target market and developing your marketing mix.

Psychological and social influences come into play in decisions to buy a product.

As marketing director of Broadway Hospital,Kim Hartig uses a typical industry-wide promotion mix that does not include _____.

Marketers must keep abreast of technological advances to ward off threats to product profitability.