Exam 1: Introduction

Marketing skills include a firm's financial expertise, general managerial skills, production capabilities, research and development capabilities, technological sophistication, and reputation.

_____ represents how one lives, including the products one buys, how one uses them, what one thinks about them, and how one feels about them.

One primary function of Harriet's job is to study individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of her company's products and services to satisfy needs and the impacts that these processes have on the consumer and society. Harriet works in the field of _____.

Laurie saved for six months to have enough money to buy a new designer outfit to wear to a special party. She had to travel to a larger city to purchase this outfit, but it was worth it to her because it made her feel beautiful and confident. The difference between the benefits Laurie perceived from this purchase and the cost to her to acquire these benefits describes her _____.

What is the LAST step in market segmentation?

Consumer behavior is a complex, multidimensional process.

Lifestyle is the totality of an individual's thoughts and feelings about him or herself.

_____ occurs when individuals or groups make consumption decisions that have negative consequence for their long-run well-being.

Tony's job entails making sure his company's products get to retailers so that target customers can buy them. Which element of the marketing mix is Tony involved with?

Which of the following is used to describe a group of consumers with similar needs sets?

Which of the following statements is TRUE regarding the overall model of consumer behavior?

Mia is concerned how her marketing activities will affect individual consumers as well as society at large. Mia is implementing _____.

A(n) _____ is anything a consumer acquires or might acquire to meet a perceived need.

A target market is that segment(s) of the larger market on which a company will focus its marketing effort.

Which of the following is part of the marketing mix?

Which of the following is included in marketing communications?

_____ is everything the consumer must surrender in order to receive the benefits of owning/using the product.

The difference between all the benefits derived from a total product and all the costs of acquiring those benefits is known as _____.

Jamie is developing a thorough understanding of his company's own capabilities; the capabilities of current and future competitors; the consumption process of potential customers; and the economic, physical, and technological environment in which these elements interact. Which step in the marketing strategy process is Jamie performing?

John purchases and is satisfied with his SUV because he believes that it provides greater crash safety than a sedan even though this is not technically true. John's satisfaction is based on the distinction between _____.