(ch1) Marketing is defined as producing, promoting, and selling products. F:Process,system,exchange.. (ch1) World championship Wrestling (WCW),a one-time competitor of the World Wrestling Federation (now known as World Wresting Entertainment), failed primarily because it set up its matches according to what its wrestlers wanted to do rather than what its fans wanted to see obviously, WCW had a marketing orientation. F:Manufacture orientation(ch2) Berkshire Hathaway Inc. is a large property insurance company, owns a large chain of jewelry stores, and has recently purchased Russell Corporation, a manufacturer of sporting goods. Berkshire Hathaway uses a market penetration strategy. F:Diverse(ch3) Marketers can control the external environment in which their organizations operate. F: own internal(ch3) Psychography is the study of people’s vital statistics such as their ages and location. F: Demography(ch4) Licensing agreements reduce the risk for manufacturers and sometimes even remove the requirement for a manufacturer to produce its own product. T(ch4) U.S.-based Procter & Gamble and Italian-based Fater agreed to produce and market diapers for the European market. This is an example of a joint venture. T(ch5) Once an individual’s evoked set has been established, evaluation of those alternatives will determine what information must be obtained during the information search. F:Happens before(ch5) Listening to someone describes how boring it was to be a movie extra is an example of experiential learning. F: observational learning(ch5) If the product element of the four P’s provides no reinforcement (positive or negative), activity in some other aspect of the marketing mix may be required to encourage further consumption. T(ch6) NAICS is an industry classification system used by most nations of the world. F:north America(ch7) A market segment is deemed to have substantiality if it contains large numbers of potential customers. T:low margin(ch7) The Hispanic American market can always be treated as a single segment. F: Slice male and female(ch7)When Holiday Inn used the slogan, “Pleasing people the world over,” it was relying on demographic segmentation. F:benefit Pscyography (ch2) Krispy Kreme Donut failed most likely because of failure to conduct what marketing concept? 3.Identify its target market(ch1) In order for exchange to occur:5.each party must have something the other party considers to be valuable(ch1) Fuji Film Computer Products has improved the efficiency and productivity of its plant, which manufactures printing technology. For the new fiscal year, the company projects a production increase of 25%. It has instructed its sales force to aggressively distribute and promote its printers. The CEO is sure the market will absorb more product if the sales force is determined and assertive. Fujifilm appears to have a ___ orientation. 3.Sales(ch2) John R. Harland Company is best known for printing checks. Its Financial Solutions division develops software for mortgage companies. This division is currently producing much less than the desired level of profitability in what has been identified as a high-growth industry. According to the portfolio matrix, Harland would label its Financial Solutions division as a(n):5.dog(ch3) Many people in the United States choose to drink light beer because Americans value thin and fit bodies. In Europe, light beers have had little success because flavor is valued more highly. For international beer manufacturers, this difference illustrates how ___ influence marketing. 3.social factors(ch3) Which of the following is NOT a demographic characteristic of a population?3.Values(ch4) Global marketing standardization.4.presumes markets throughout the world are becoming more alike(ch5) The processes individuals use when making a purchase decision are called ___. This is also the reason individuals recognize and respond to the distinctive lettering used on Coca-Cola cans, the shape of the Nike swoosh, and the color of a can of Campbell soup.1.Consumer behavior(ch5) Social influences on consumer buying decisions include:4.reference groups, opinion leaders, and family(ch5) ____ occurs when consumers remember only information that supports their personal feelings or beliefs. 3. Selective retention(ch5) An ad for Boys & Girls Club of America calls it “the positive place for kids: and shows a sample membership card to which of Maslow’s needs does this ad most likely appeal? 3. Esteem(ch2)_marketing_ is a strategy that attracts new customers to existing products.(ch3)_ethics_ is the concern of business for the long-range welfare of both the company and its relationships to the society within which it operates.(ch3)A(n) _target market_ is a defined group that managers feel is most likely to bus a firm’s product.(ch4) A soft drink manufacturer who was thinking of investing in a bottling plant in the Czech Republic should know the nation is proud of the fact it is among the world’s biggest beer drinkers. Czechs consume an average of the one-half liter of beer a day for every man, woman, and child in the country. The _social_ environment of this country could very easily prevent the soft drink bottling company from succeeding.(ch5)_segmentation_ is the analytical technique used to examine consumers lifestyles and to categorize consumers.(ch6) A _keirets-buying center/target market_ is an extreme example of how strategic alliances can make efficient use of relationship marketing.(ch1)Marketing-is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customers relationships in ways that benefit the organization and its stakeholders.(ch1)marketing management philosophies:production-internal capabilities of the firm.sales-aggressive sales techniques and belief that high sales result in high profits.Market-satisfying customers needs and wants while meeting objectivies.Societal-satisfying customers needs and wants while enhancing individual and societal well-being.(ch2)swot-strength:things the company does well internal-weakness:things the company does not do well internal.oppurtunities-condutions in the external environment that favor strengths. Treats-condutions in the external environment that do not relate to existing strengths or favor areas of current weakness.(ch2)4p’s Price,promotion,place,product(q1)which of the following are NOT part of a typical marketing plan, as outlined in the textbook?c.production line extension(q1)Which management philosophies best describes what the company Method most likely follows?d.societal with some market(q2)what is cognitive dissonance? Inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions.ex buyers remorse.(q2)what is ACACPE and how is it similar or different to the decision-making model in ch5?A-wareness.C-omprehenshen.A-cceptance.C-onsideration.P-urchase.E-valuation.It is similar to decision-making model.(ch5)consumer decision-making model.need recognition,information seach, evaluation of alternatives, purchase,post purchase behavior(ch5)reference group-a group in a society that influences an individual’s purchasing behavior.(ch5)opinion leaders-an individual who influences the opinion of others.(ch5)perception-process by which people select,organize,and interpret stimuli into a meaningful and coherent picture.(ch5)maslow’s hierarchy of needs-top->bottom.. self-actualization needs-self-development, self-realization..esteem needs-self-esteem, recognition, status..Social needs-sense of belonging, love..safety needs-security, protection..physiological needs-hunger, thirst..(ch6)keiretsu-a network of interlocking corporate affiliates. (ch6)strategic alliance- a cooperative agreement between business firms (strategic partnership)(ch6)naics-north American industry classification system-a detailed numbering system developed by the u.s, Canada, and mexico to classify north American business establishments by their main production processes.(ch6)business buying behavior:buying centers-all those persons in an organization who become involved in the purchase decision. Evaluative creiteria, buying situations, business ethics, customer service.(ch7)market segmentation: market-people or organizations with needs or wants and the ability and willingness to buy. market segment-a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs. Market segmentation-the process of dividing a market into meaningful, relatively similar, identifiable segments or groups.(ch7) criteria for segmentation: substantiality-segment must be large enough to warrant a special marketing mix. Identifiability and measurability-segments must be identifiable and their size measurable. Accessibility-members of targeted segments must be reachable with marketing mix. Responsiveness-unless segment responds to a marketing mix differently, no separate treatment is needed.(ch7) bases for segmentation:geography-region of the country or world,market size,market density,climate.demographics-age,gender,income,ethnic background,family life cycle.psychographics-personality, motives, lifestyles, geodemographics.benefits sought-the process of grouping customers into market segments according to the benefits they seek from the product. usage rate- cell company charge based on usage: the amount of data bits they wirelessly transfer each month.(ch7)buyer characteristics:satisfiers-business customers who place an order with the first familiar supplier to satisfy product and delivery requirements. Optimizers-business customers who consider numerous suppliers, both familiar and unfamiliar, solicit bids, and study all proposals carefully before selecting one.(ch7)steps in segmenting markets:1.select a market for study.2.choose bases for segmentation.3.select descriptors.4.profile and analyze segments.5.select target markets.6.design implement, maintain marketing mix.(ch7)strategies for selecting target markets: undifferential targeting strategy- a marketing approach that views the market as one big market with no individual segments and thus requires a single marketing mix. Concentrated targeting straregy-a strategy used to select one segment of a market for targeting market efforts. Multisegment targeting strategy-a strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each.(ch7) cannibalization- situation that occurs when sales of a new product cut into sales of firm’s existing products.(ch7) one to one marketing-an individualized marketing method that utilizes customer information to build long-term, personalized, and profitable relationships with each customers.(ch7) positioning-developing a specific marketing mix to influence potential customers’ overall perception of a brand, product line, or organization in general.(ch8)7 steps in marketing research project-1.define problem.2.plan design/primary data.3.specify sampling procesure.4.collect data.5.analyze data.6.prepare/present report.7. follow up….. what women want gibson1,2,6,7(review)regarding a market segment,what are the criteria for successful segmentation?the first criteria is sustainability.-large enough-nitch-market to the,(review)regarding market research and decision makin, defind the critical steps in the marketing research process. 7steps(review)marriot family segmentation strategies:marriot-business upper/middle income. Springhill- middle/lower income.fairfield inn-holiday inn. JW marriot-exec/upper income.marr vacation club-vacation(ch8)Dss-decision support systems-an interactive, flexible computerized information system that enables managers to obtain and manipulate information as they are making decisions.(ch8)marketing research-the process of planning, collecting, and analyzing data relevant to a marketing decision.