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Ex. Bus.

The chance of loss associated with marketing decisions.
: Risk
A service that allows users to “like” a company’s profile and thereby interact and build a relationship with the firm
: Facebook
A factor that has sparked the rise of consumer-generated information is
: the consumers’ tendency to trust other consumers over corporations.
A process by which a person selects, organize, and interprets information received from his or her senses.
: Perception
If a company develops an advertising campaign exclusively for a segment of consumers with a certain income and education, then the company uses
: Demographic segmentation
The form of communication that attempts to facilitate a marketing exchange by influencing people, groups, or organizations is known as
: Promotion
The first step in developing a marketing strategy is
: selecting a target market
Convenience products such as bread, milk, and chewing gum would probably be marketed
: intensively
If a product is experiencing negative profits and the company is spending a great deal of money on advertising to make consumers aware of the product, then the product is most likely in the
: introduction stage of the product life cycle
The most flexible variable in the marketing mix is
: Price
Venn Networks recently unveiled its new smartphone at a press conference. There was a news release about the new smartphone and all the members of the company’s top management interacted with the media during this conference. Venn Networks is using the promotional strategy of
: publicity
An important variable–often the central focus–of the marketing mix, based on which the other variables are adjusted
: Product
Products such as furniture, audio equipment, bicycles, and clothing are generally classified as
: shopping products
One of the most popular photo sharing sites on the internet which enables the user to upload images, edit them, classify the images, create photo albums, and share photos with friends
: Flickr
A gallon of milk is an example of a
: convenience product
When a company sets a low price for a new product to discourage competition from entering the market, it is using the
: penetration pricing strategy
A customer’s subjective assessment of benefits relative to costs in determining the worth of a product is known as
: value
Encourages consumers to make purchases based on emotion, rather than rational considerations about the price
: Psychological pricing
When Viera, an automobile company, pays a television network to air its commercial, it is using
: advertising
Effective promotional positioning uses promotion to
: create and maintain an image of a product in buyers’ minds
One challenge that digital media has created for businesses is
: employees wasting time during the internet
A web-based getting place for friends, family, co-workers, and peers that lets users create a profile and connect with other users for a wide range of purposes
: social network
Marketers’ ability to process orders electronically and increase the speed of communications thereby reducing costs, inefficiencies, and redundancies most relates to the
: distribution of marketing mix
The goal of the marketing concept
: consumer satisfaction
Which of the following requires organizations to gather information about customer needs, share that information throughout the firm, and use it to help build long-term relationships with customers?
: Market orientation
True statement about digital media is
: They do not relieve businesses of the task of achieving the right marketing mix
If a nationwide sandwich shop introduces a new sandwich in the midwest to try out its marketing strategy before offering the product across the country, it is in the
: test marketing stage of the product development process
Primary focus of a business that adopts a market orientation
: Building long-term relationships with customers
Many social networking sites today provide users with the ability to
: download applications
Private distributor brands
: are owned and controlled by a wholesaler or retailer
A company develops one marketing strategy for a single market segment
: concentration approach
Best described as a group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services, and ideas
: Marketing
If a company buys televisions from a manufacturer and then sells them to department stores, it is probably a
: wholesaler
Taken place when a customer at a bakery hands a cashier $5 for a loaf of bread
: Exchange
True statement about digital communication
: It has made it possible for businesses to reach previously inaccessible markets
Inventory control, transportation, and warehousing are all examples of activities of
: physical distribution
In the context of the evolution of the marketing concept, the era of production orientation was characterized by
: The development of new technologies that made it possible to manufacture goods with ever increasing efficiency
Kemmen Foods Inc., a company that manufactures and sells breakfast cereals, has customized its cereal flavors to suit different lifestyles, personal tastes, and age groups. For example, it makes organic cereals for its health-conscious customers, and it makes colorful cereals with cartoon characters for children. Common Foods Inc. is using
: Multisegment approach
Tend to allow businesses to be more promotional than reactive because they do not permit companies to respond to or interact with customers
: Media sharing sites
True Pharmaceuticals Inc. manufactures and sells a variety of drugs for a large market consisting of people of different genders, ages, educational backgrounds, lifestyles, geographic locations, and income levels. It assumes that all buyers have similar medical needs and wants. True Pharmaceuticals Inc. is best demonstrating a
: total-market approach
Websites where users can add to or edit the content of posted articles
: Wikis
Distribution channel that would most likely be used for fruits and vegetables sold at a roadside stand or farmer’s markets is
: Producer to consumer
Selective distribution
: uses only a small proportion of all available outlets to expose products
Gear Power Inc. an automobile company, manufactures different cars for different market segments. It markets SUVs for customers who live in the mountains sedans for customers in the coastal plains, and smaller hatchback cars for those in big cities. Gear Power Inc. is primarily using
: geographic variable
The only business function that is directly responsible for creating sales and revenue.
: Marketing
As services are generally produced and consumed simultaneously, they are usually distributed through
: direct marketing channels`
The most popular mobile photo sharing application which allows users to make their photos look dreamy or retrospective with different tints and then share them with friends
: Instagram
Prism Phones Inc. is targeting college students and young professionals. The company has therefore decided to advertise its cell phones over social networking and other popular websites. Relative to television advertising, this strategy will help Prism Phones save costs, allowing the firm to sell its phones at a more competitive price. Prism Phones’ decision to advertise via different vehicles than other firms illustrates the
: Promotion activity
Best for promoting expensive products with specialized uses, such as houses.
: Personal selling
Not one of the four marketing activities of the marketing mix
: Profit

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