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Exam 13: Marketing: Helping Buyers Buy

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Question 111

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The main concern of the marketing mix is to please firm's stockholders.

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Question 112

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Customer relationship management (CRM) is the process of learning as much as possible about customers and doing everything you can to satisfy them.

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Question 113

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The process of identifying the factors that can affect marketing success is called environmental scanning.

Placing a product in a location where people will buy it is part of the marketing mix.

Which of the following refers to the process of dividing the total market into several groups with similar characteristics?

The number of customers in business-to-business markets is quite large compared to the number of customers in the consumer market.

The goal of __________ is to keep individual customers over time by offering them new products that exactly meet their requirements.

Intermediaries are firms in the middle of a series of organizations that distribute goods from producers to consumers.

Products such as computers, telecommunications equipment, PDAs, and other manufactured or mass-produced items are always classified as B2B products.

Good marketing research helps us identify what customers have purchased in the past and what they are likely to want in the future. Super Fun World is preparing to open its latest theme park in Shanghai. It will be collecting lots of information on what customers want while they are at the park. The marketing research company representing Super Fun might create original surveys with targeted questions that help it collect reliable information. This type of research is described by marketing professionals as the collection of________.

The four eras of the evolution of marketing are (1) production, (2) selling, (3) advertising, and (4) stakeholder relationships.

Which of the following statements is most consistent with today's views on effective marketing?

A comparison of the marketing concept and customer relationship management indicates that customer relationship management:

Why is market segmentation important? Describe three ways firms can segment consumer markets.

Relationship marketing moves away from mass production and toward custom-made goods and services.

Mini-Case Callie is a successful executive who is also a fitness enthusiast. For years she worked out at Big Jim's Gym, the only gym in her small hometown. However, she felt that the environment at Big Jim's was too masculine, and discovered that her female friends agreed. They disliked the small, smelly locker room, and the limited selection of cardio equipment. Most of them eventually quit going to Big Jim's. Callie talked to Jim Nasium, the owner of Big Jim's, about things he could do to attract more women, but Jim had little interest in making any changes. "I've got all the business I can handle," he told Callie. "Why should I spend a bunch of money to redecorate and add extra equipment? Besides, lots of the guys who work out here tell me they like the simple, no-frills atmosphere." Frustrated by Jim's indifference to her ideas, Callie began looking into the possibility of starting a club to appeal to young, well-educated women. After visiting gyms in other towns and talking to several friends to get ideas, she came up with a detailed plan for her club. She then described her ideas to women in the community to see how much interest there was in this type of facility. The extremely positive response encouraged her to go ahead with her plans. It took a while, but she ultimately obtained the financial backing to go into business. Callie calls her new health club ShapeUP. It offers a spacious and attractive locker room, better cardio equipment, a child care area so young mothers can have someone watch their toddlers while they work out, and exercise classes designed to appeal to young women. When a woman joins her club, Callie schedules a free session with a personal trainer who works with the new member to design a personalized workout program. Callie tries hard to keep close to her customers, sending them a monthly newsletter that includes a survey asking what they like and don't like about ShapeUP. She wants to please her existing customers and keep them coming back. In fact, now that ShapeUP has a strong membership base, Callie believes it is more important to keep existing customers loyal than to attract new customers. In addition to the comments from her own customers, Callie also spends a lot of time tracking economic, social, and competitive trends in the gym industry, trying to identify factors that can affect the marketing success of her club. She subscribes to several journals that cover trends and report on research findings related to the business. She has found that these journals provide her with an inexpensive source of useful information. -When Callie developed a detailed description of her ideas for a gym and asked for feedback from women about the proposal, she was engaging in:

As a marketing manager for Kitch-It-Tools, Jim is frustrated with the way his organization markets their kitchen utensils. Currently Kitch-It-Tools utilizes a strategy aimed towards the largest possible number of people, relying heavily on television and radio advertising. Jim complains that the firm is not listening to its customers and is in danger of losing many of them to firms that create a personal dialogue with their buyers. Presently Kitch-It-Tools practices:

Marketing is a one-time activity, performed when a business is first established and introducing product in the market. Once a firm has fine-tuned its marketing activities, it can turn its attention elsewhere.

Selecting which groups an organization can serve profitably is called target marketing.

In order to be successful, marketers avoid small market segments in favor of larger targets.