advertising and selling are only the tip of the marketing _____.
the goal of marketing is to create value for customers in order to __________ value (in monetary terms) from customers in return.
in a narrower business context, marketing involves building profitable, ________ exchange relationships with customers.
business will ultimately _______ the rewards of value from consumers in the forms of sales, profits and long-term customer equity.
marketing can be defined as the ________ by which businesses create value for customers and build strong relationships to capture value from customers in return.
marketing is more concerned with creating, building, _________ and ________ relationships with customers.
marketers seem to know everything about you, from your habits to your preferences. they reach you ________, _________ and ________.
traditionally, many people think of marketing as only advertising and selling. but in this new century, marketing must be understood in the sense of satisfying customer needs.
in this new century, the marketing landscape is already changed, and all traditional marketing approaches are not applicable any more.
what marketers need to do is to construct a seller-driven marketing strategy.
in this digital age, the way we communicate, access and share information, enjoy entertainment and do shopping have been totally _________ and reshaped.
the post-recession recovery brings ________ back to consumers, they still tend to buy less, spend less and save more.
today, companies are sourcing more supplies and components abroad and developing new products for specific market. the key word(s) here is(are)______
when it comes to making purchasing decisions, consumers tend to stress more on features like _________, __________ and _________.
non-profit organizations such as universities and colleges show little interest in marketing.
consumers are becoming more aware of the importance of environmental protection and paying more attention to the issue of sustainability.
in adjusting to the new economy, some companies may be unwilling to cut their marketing budgets.
making cuts in the wrong places can hurt and even damage the brand’s long-term image and customer relationship.
forward-looking companies readily accept their responsibilities to the world around them and view sustainable marketing as an opportunity to do well by doing good.
1. in this digital age, the way we communicate, access and share information, enjoy entertainment and do shopping have been totally _________ and reshaped.
2. the post-recession recovery brings ________ back to consumers, they still tend to buy less, spend less and save more.
3. today, companies are sourcing more supplies and components abroad and developing new products for specific market. the key word(s) here is(are)______
4. after the 2008 financial tsunami and its aftermath, consumers are moving from mindless to ________ consumption.
5. when it comes to making purchasing decisions, consumers tend to stress more on features like _________, __________ and _________.
6. non-profit organizations such as universities and colleges show little interest in marketing.
7. consumers are becoming more aware of the importance of environmental protection and paying more attention to the issue of sustainability.
8. in adjusting to the new economy, some companies may be unwilling to cut their marketing budgets.
9. making cuts in the wrong places can hurt and even damage the brand’s long-term image and customer relationship.
10. forward-looking companies readily accept their responsibilities to the world around them and view sustainable marketing as an opportunity to do well by doing good.
promotion is basically a kind of ________.
in order to increase the ________ of a product, the company should stengthen and enlarge it distribution network.
what elements should be taken into consideration when it comes to making product decisions?
in order to improve product accessibility, the following tactics can be considered:
when a business plans to send messages via socializing apps to make a buzz, it needs to consider:
the external operating environment includes the following aspects:
mccarthy's theory is the only one adopted in describing marketing mix.
traditionally a product is described as a tangible item that can satisfy a customer's specific need.
market coverage is related to the convenience of buying.
a product is regarded as a _________ to a problem.
the market nichers occupy a all segment of the market and attempt to build strong ties with their customers via the provision of high quality products and superior after-sales services.
marketing strategies are planned and should always be followed strictly.
the market followers are less aggressive and tend to maintain their market position through price reduction.
the market challengers are willing to take more risks, since they need to gain more market shares.
the market leaders tend to adopt a more offfensive posture since they need to protect their market position.
strategic marketing is focused on the implementation of specific targets.
marketing strategy has the fundamental goals of increasing sales.
alfred chandler wrote in 1962 that strategy is the determination of the basic short-term goals of an enterprise, and the adoption of courses of action, and the allocation of resources necessary for carrying out these goals.
strategy is important because the resources available are sufficient, and how to utilize them is very critical to the success of business.
managerial marketing is focused on the implementation of specific targets.
the objective of business portfolio ysis, as stated before, is to find out the most profitable or _______ products or brands, and put strong investment into them.
_______ refer to represent sbus having large market share in a fast-growing industry.
________ refer to products with low growth or market share.
when cash cows lose their appeal and move towards deterioration, then a ___________ policy may be pursued.
the best business portfolio, however, is believed to be able to fit the company’s strengths and weaknesses, and ready the company for market opportunities.
managing such a huge portfolio profitably takes just experience and expertise.
stars are the corporation’s key source of net cash inflow, and are specifically the core business.
a prevalent critici about bcg matrix is that market growth is not the only indicator for attractiveness of a market, and high market share is not the only success factor.
as time passes, sbus may change their positions in the growth-share matrix.
1the objective of business portfolio ysis, as stated before, is to find out the most profitable or _______ products or brands, and put strong investment into them.
2._______ refer to represent sbus having large market share in a fast-growing industry.
3. ________ refer to products with low growth or market share.
4. when cash cows lose their appeal and move towards deterioration, then a ___________ policy may be pursued.
5. a company can pursue one of the four strategies for each sbu. it can invest more in the sbu to _______ its share.
6. the best business portfolio, however, is believed to be able to fit the company’s strengths and weaknesses, and ready the company for market opportunities.
7. managing such a huge portfolio profitably takes just experience and expertise.
8. stars are the corporation’s key source of net cash inflow, and are specifically the core business.
9. a prevalent critici about bcg matrix is that market growth is not the only indicator for attractiveness of a market, and high market share is not the only success factor.
10. as time passes, sbus may change their positions in the growth-share matrix.
in swot ysis, s refers to:
once you've identified your risks, you can try the following:
examples of areas typically considered as strengths and weaknesses include:
external factors typically include:
useful opportunities can come from such things as:
opportunities refer to elements in the environment that the business could exploit to its advantage.
threats refer to elements in the environment that could cause trouble for the business.
weaknesses refer to characteristics of the business that place the business at a disadvantage relative to others.
if all your compes provide high-quality products, then a high-quality production process is not a strength in your organization's market.
the ultimate purpose of swot ysis is to help you take ______ of your resources and competitiveness.
micro-environment factors include:
p refers to political factors in the pest ysis. political factors include:
e refers to economic factors in the pest ysis. economic factors include:
s refers to sociocultural factors in the pest ysis. sociocultural factors include:
micro-environment includes all forces within the company that affect its ability to serve its customers.
macro-environment refers to larger societal forces that can affect the micro-environment.
micro-environment factors can affect macro-environment factors.
rapid technological changes are contributing to the creation of opportunities for companies to develop new products.
in service industry, the importance of employees in the company’s development is less than that in other industries.
he significant meaning of media is that either positive or negative reports concerning one company can influence its corporate image.
1. micro-environment factors include:
2. p refers to political factors in the pest ysis. political factors include:
3. e refers to economic factors in the pest ysis. economic factors include:
4. s refers to sociocultural factors in the pest ysis. sociocultural factors include:
5. micro-environment includes all forces within the company that affect its ability to serve its customers.
6. macro-environment refers to larger societal forces that can affect the micro-environment.
7. micro-environment factors can affect macro-environment factors.
8. rapid technological changes are contributing to the creation of opportunities for companies to develop new products.
9. in service industry, the importance of employees in the company’s development is less than that in other industries.
10. he significant meaning of media is that either positive or negative reports concerning one company can influence its corporate image.
marketing research consists of several steps, including _____, ______, ______ quantitative and qualitative data.
by methodological approach, marketing research can be categorized as:
consumer marketing research is a form of applied sociology that concentrates on understanding the ______, _______, _________ of consumers in a market-based economy:
uncontrollable environmental factors include:
the goal of marketing research is to identify and assess how changing elements of the marketing mix impacts customer behaviour.
market research is concerned specifically with markets, while marketing research is concerned specifically about marketing processes.
marketing researchers and marketing managers are crossing the boundary into each others' fields by taking on more responsibilities.
two-way communication between business and their consumers became a reality due to the rapid development of information technology.
the pace of growing online business competition is greater than that of the diminishing bricks-and-mortar shops.
it is no longer sufficient to follow trends in web behavior or track sales data companies now needed access to consumer behavior throughout the entire purchase process.
the information collected from sources like _______, _________, ________ and other market players can be called marketing information.
it is a multi-view of your customers obtained from a strategic ysis of both ______ and _______ data of customer behaviours.
adequate customer information can contribute greatly to good products and marketing programs.
customer insight is the in-depth knowledge of your customers, based on their buying behaviours, their experiences with your brand, their beliefs or needs.
raw data collected from customers are not enough to tell anything about customer insights.
it is not difficult to collect information but the difficulty lies in how to use them effectively.
marketing researchers should be able to perform data mining and find out the stories behind the data, and provide clear answers to practical questions.
the problem is, some managers will ask for whatever information they could get without thinking carefully what they really need.
the cost issue of marketing research deserves serious consideration. the cost issue also deserves serious consideration.
an appealing advertisement or a warm discussion with your friends, might trigger your desire to buy a car. this is called ________.
__________ means how consumer process information to choose among alternative brands.
which of the following is a social factor that influences consumer buying behavior?
when marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________.
which of the following is not a personal factor that influences a consumer's buying behavior?
a marketing firm has been assigned the task of watching trends in personal income, savings, and interest rates. the marketing firm is most likely gathering information about consumers' ________.
the most effective sources of information about a product tend to be ________ sources.
consumers may obtain information from many sources, including
how consumers go about evaluating purchase alternatives depends on the iniduals and the specific buying situation.
in the buyer decision process, marketer’s job ends when customer’s purchase decision is made and the product is sold.
cultural factors exert deep and _______ influence on consumer behaviours.
the buyer’s characteristics which may influence how he or she will ________ or react to the stimuli.
___________ are a society’s relatively permanent and ordered isions whose members share similar values, interests, and behaviours.
_________ is a person’s way of living as expressed in his or her psychographics. it involves a person’s activities, interests and opinions.
many characteristics may influence buyer’s perceptions and responses. the major categories of characteristics include: ______.
it is not difficult to find out what, where and how much consumers buy, but the whys are the hardest to answer.
a child in america is typically taught the values of collectivi, personal success and achievement, frugality, material and mental enjoyment and filial obedience to parents.
word-of-mouth, which are words from all groups or other social members, can have a powerful impact on consumer buying behaviour.
according to traditional researches, family members can strongly influence buyer behaviour.
one’s occupation and economic situation, which are often independent from each other, affect consumer’s preferences and choices.
business buyers usually face more complex buying decisions and longer and more ________ decision process.
large business purchases usually call for detailed product specifications, written purchase orders, careful searches and formal ________.
b2b marketers may roll up their ________ and work closely with their business customers during all stages of the buying process
in a __________, the buyer reorders without making any modifications.
in _________, companies put their purchasing requests online and invite suppliers to bid for the business.
within the organization, buying activity consists of two major parts:, __________ and _______.
in large business markets, a large number of buyers account for most the purchasing.
business demand is a kind of derived demand: it ultimately derives from the demand for consumer goods.
the modified rebuy is when a company plans to buy a product or service for the first time.
business buyers respond to both economic factors, not personal factors.
1. business buyers usually face more complex buying decisions and longer and more ________ decision process.
2. large business purchases usually call for detailed product specifications, written purchase orders, careful searches and formal ________.
3. b2b marketers may roll up their ________ and work closely with their business customers during all stages of the buying process
4. in a __________, the buyer reorders without making any modifications.
5. in _________, companies put their purchasing requests online and invite suppliers to bid for the business.
6. within the organization, buying activity consists of two major parts:, __________ and _______.
7. in large business markets, a large number of buyers account for most the purchasing.
8. business demand is a kind of derived demand: it ultimately derives from the demand for consumer goods.
9. the modified rebuy is when a company plans to buy a product or service for the first time.
10. business buyers respond to both economic factors, not personal factors.
a segment of something is one part of it considered separately from the rest.
if a company segments a market, it ides it into separate parts, usually in order to more precisely identify the target consumers and improve marketing opportunities.
there is not a single company that is capable enough to develop a product that can satisfy all the consumers in this world.
consumers can also be grouped according to their psychographic features like lifestyles, personalities, values and attitudes to life.
acorn, which is short for a classification of residential neighborhoods, uses residential areas and related property prices to classify people.
abc socio-economic categories uses people’s income levels, professions and social status to group them.
marketers also use the data to build up a customer profile: the image of a typical consumer.
market segmentation is one very primary and essential step in market ysis.
those consumers with similar needs, behaviours and preferences can be grouped together to from different aller segments.
different companies may adopt exactly the same approaches to market segmentation.
using a(n) _________ marketing (or mass marketing) strategy, a firm might very possibly decide not to target a specific segment but the whole market.
colgate offers toothpastes to its customers with different needs like sensitivity, whitening, and launches different toothpastes brands. this is called ________ marketing.
when it comes to choosing a targeting strategy, companies need to consider many factors which include:
in evaluating different market segments, a company must pay attention to three factors. they are:
a company should only enter segments in which it can create superior customer value and gain advantages over its compes.
modern marketers seldom adopt undifferentiated marketing (or mass marketing) strategy.
when using a concentrated marketing or niche marketing strategy, a firm goes after a all share of a large market.
concentrated marketing can be highly profitable with low risks.
if the segment consists of buyers with different tastes, like in the case of soft drink, then it is advisable to choose undifferentiated marketing.
a loyalty card can also be named as:
being loyal means being firm and not changing in your support for a person, a product, a company, an organization or a brand.
customer loyalty refers to the tendency to repurchase a particular product, service or brand or revisit a particular company shop or website many times.
loyal customers tend to buy more and buy more expensive products.
loyal customers are willing to introduce their favourite brands to friends, colleagues and relatives, causing the effect of a de facto word of mouth marketing.
being fickle means being firm in support for a person, a brand or a company.
b2b (business-to-business) loyalty programs reward businesses for their purchase of goods and services from suppliers.
some critics see the lower prices and rewards as bribes to manipulate customer loyalty and purchasing decisions, or in the case of infrequent spenders, a means of subsidizing them.
some institutes warn that commercial use of the personal data collected as part of the programmes has the potential for abuse.
1. a loyalty card can also be named as:
2.at the end of a certain period, say, one fiscal year, the customer can generally redeem the points in the loyalty card for some:
3. being loyal means being firm and not changing in your support for a person, a product, a company, an organization or a brand.
4.customer loyalty refers to the tendency to repurchase a particular product, service or brand or revisit a particular company shop or website many times.
5. loyal customers tend to buy more and buy more expensive products.
6. loyal customers are willing to introduce their favourite brands to friends, colleagues and relatives, causing the effect of a de facto word of mouth marketing.
7.being fickle means being firm in support for a person, a brand or a company.
8.b2b (business-to-business) loyalty programs reward businesses for their purchase of goods and services from suppliers.
9. some critics see the lower prices and rewards as bribes to manipulate customer loyalty and purchasing decisions, or in the case of infrequent spenders, a means of subsidizing them.
10. some institutes warn that commercial use of the personal data collected as part of the programmes has the potential for abuse.
the development of a product starts by defining the benefits it offers to consumers. these benefits are commonly presented and delivered by _____
the label can promote a brand, because it supports the brand’s __________ and may help to connect with customers.
to be more specific, product quality involves two levels or dimensions: _______ and ________.
packaging must now perform many tasks, which include:
sellers must ensure that their labels contain all the required information such as:
marketers need to choose a quality level which will support the product’s positioning. in this context, the quality can be understood as conformance quality.
the brand is the basis on which a whole story can be told about the product’s special qualities.
modern marketers tend to offer products with varying features. however, only those features with substantial values worthier than the marginal costs should be added.
a brand identifies the products or services of one seller and differentiates them from those of compes.
product support services is a minor part of the product and the total offering.
the line of products typically shares the same _________.
line filling is to introduce new products that are __________ the brand’s initial positioning.
___________ means adding more items within the present range of the line.
the product mix, also called product _________, of a company involves all products that a company has for sale.
________ refers to how closely related the product lines are in terms of end use, production requirements, distribution channels or any other way.
a company located at the upper end of the market may choose to stretch the product line upward.
the product mix width to the total number of items a company carries within the product lines.
product mix decision making is a dynamic process.
companies can make product lines more consistent, or less consistent.
in the past, the brand was hence regarded as a way to identify the elements that __________ the goods and or service from the competition.
branding aims to establish a _________ and __________presence in the market that attracts and retains loyal customers.
the objectives that a good brand will achieve include:
branding is only about getting your target market to select you over competition.
branding is about getting your prospects to see you as the sole and only provider of a solution to their problem or need.
a strong brand is priceless as the battle for customers intensifies day by day.
the brand is the source of a promise to one’s customers.
brand not only creates loyal customers but also creates loyal employees.
one’s brand should relate to the target audience.
branding requires the company to identify elements that make the brand unique and differentiate it from other compes.
the product life cycle is normally ided into four stages, namely: introduction, growth, ______ and decline.
what is/are the function(s)/purpose(s) of developing new products?
___________ means when the new product idea should be able to survive in the market.
once a product concept and related marketing strategy are determined, marketers can evaluate the ___________ of the proposed new product.
the r&d department will develop and test one or more physical versions of the product concept. developing a successful _________, however, can take days, weeks, months or even years.
___________ is the process of introducing a new product or production method into commerce—making it available on the market.
the following are examples of tangible products:
the following belong to the category of intangible products:
idea screening is defined as _________ and _________ new product ideas to get the most promising ones for business.
market saturation and stiff competition will lead to:
if the company mainly sells consumer products then it has to focus on how to identify and satisfy consumers' needs in order to develop its business.
rapid technological changes are contributing to the creation of opportunities for companies to develop new products.
the product life cycle begins when a new product is launched into the market and ends when the product is withdrawn from the market.
once the product is newly developed, before being launched into the actual market, the viability of it should be tested in a all-scale test market.
offering discounts to customers is a way to nurture customer loyalty.
the maturity stage is a stable stage where sales are high but growth rate is low.
during concept testing, new product concepts can be presented to consumers physically only.
if the product concept passes the business test, it must be developed into a physical product.
in test marketing stage, the product and its proposed marketing programme are tested in real market settings within a large scale.
normally, companies have the confidence, capital and capacity to launch new products into full national or international distribution one and for all.