Exam 11: Marketing: Building Profitable Customer Connections

People marketing involves drawing people to a particular place.

Form utility satisfies wants by smoothly transferring ownership of goods and services from seller to buyer.

Environmental scanning is the process of segmenting the market into individual responses to various products. This includes the benefits consumers seek from products and how consumers use products.

Which of the following is a vital starting point for most marketers?

_____ holds that delivering unmatched value to customers is the only way to achieve long­term profitability for an organization.

An advantage of primary data is that it can be customized to meet a marketer's needs.

Target markets refer to small groups formed by dividing a market based on attitudes, lifestyles, and values exclusively.

Which of the following is a disadvantage of observation research?

_____ is a customer's perception that a product has a better relationship than its competitors between the cost and the benefits.

Marketing research is used to monitor and predict customer behavior.

The key advantage of survey research is that the researcher can secure information about what people are thinking and feeling, beyond what he or she can observe.

Toyota's effort to promote fuel economy and performance of the Prius without making any real sacrifices is an example of green marketing.

Eduardo's boutique specializes in biodegradable umbrellas and bamboo clothing. Eduardo actively promotes the ecological benefits of his products to attract the consumer market that makes purchase decisions based on their convictions. Eduardo's marketing approach is referred to as green marketing.

Which of following kinds of researches involves interaction with research subjects and offers a researcher an advantage of securing information about what people are thinking and feeling?

_____ satisfies wants by converting inputs into a finished product.

Ricardo recently spent a lot of money on the purchase of a new sports car. He thought he would really enjoy it, but soon after the purchase, he began to question whether it was a smart move. Ricardo's doubts are an example of cognitive dissonance.

Define and describe the differences between the customer behavior of consumer buyers and that of business buyers.

Observation research involves talking to the subjects being watched.

MyWay is an organization that sells GPS navigation devices online. The company accepts all major credit cards and offers a variety of payment options along with free shipping of the units. All of these efforts show that MyWay is making a strong effort to provide _____ utility.

Which of the following marketing mix elements takes into consideration factors such as competition, regulation, and public opinion?