Exam 11: Marketing Processes and Consumer Behavior

Deciding how much to charge for a product is included in the marketing mix element of ________.

When companies extend their horizons and identify opportunities outside existing product lines,the result is ________.

Products that you may buy for personal use are called ________.

How are market segments identified?

To understand consumer behavior,marketers draw heavily on such fields as psychology and sociology.

The institutional market includes businesses that buy goods to be converted into other products or that are used up during production.

Intermediaries,who buy finished goods and resell them,are categorized as ________.

Buzz marketing relies on television advertising to increase brand awareness.

Short Case Scenario 11-1 Martin Winner, a Denver businessman, has had a successful career in marketing, starting out in retail sales and moving up through positions in industrial sales and public relations. Seeking a new challenge and hoping to move south, Martin decides to look for a new job in Texas, New Mexico, or Arizona. Martin is delighted to be hired as the Director for Marketing at Panther Shoes, a manufacturer of athletic apparel. -List five possible attributes likely to be found in the value package for Panther Shoes' top-selling shoes.

Marketing begins with a product,a good,service,or idea.

Many of today's small businesses were yesterday's largest firms.

A decision based on emotional motives considers cost,quality,and usefulness.

The reseller market consists of intermediaries,wholesalers and retailers,that buy and resell finished goods.

Convenience goods are purchased and consumed rapidly,regularly,and with a minimum expenditure of time.

When watching your favorite sitcom,you note a particular brand of beer is being held by your favorite actor.This is an example of product placement.

Describe the elements of the marketing mix.What is their collective role?

________ is the process of using symbols to communicate the qualities of a particular product made by a particular producer.

Cultural influences on buying behavior include an individual's motivations,perceptions,ability to learn,and attitudes.

During the ________ stage of the product life cycle,sales begin to slow down,but profit levels are at their highest.Competition becomes more active,and toward the end of this stage,sales start to fall.

Consumer-seller relationships are often impersonal and fleeting,based on one-time interactions.