Exam 13: Marketing: Helping Buyers Buy

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

Hideki has just been transferred from a position in his firm where he dealt with the consumer market to a new job dealing with buyers in the B2B market.Which of the following correctly identifies a key difference Hideki is likely to observe between consumer markets and business-to-business markets?

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

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 aerobics 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 health club to appeal to young,well-educated women.After visiting health clubs 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 Curves and Shapes.It offers a spacious and attractive locker room,better aerobics 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 health 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 Curves and Shapes.She wants to please her existing customers and keep them coming back.In fact,now that Curves and Shapes have 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 health club industry,trying to identify factors that can affect the marketing success of her health club.She subscribes to several journals that cover trends and report on research findings related to the health club business.She has found that these journals provide her with an inexpensive source of useful information. -The fact that Curves and Shapes is designed to appeal to women of a certain age,education and income level,means that Callie is using:

One of the social trends that marketers must monitor to maintain their close relationship with customers is the:

Compared to consumer markets,B2B markets:

Environmental scanning is a green concept that involves the tracking of pollution generated by a firm and its impact on society.

A firm that uses ___________ segmentation divides a market into groups based on age,income,or level of education.

A firm that uses __________ segmentation divides a market into groups based on values,attitudes,or interests.

The B2B market involves fewer trades and fewer dollars spent than the consumer market because there are so many more consumers than there are businesses.

Mucho Tacos Restaurants,Inc.is a chain of restaurants featuring authentic Mexican cuisine in seven states.The company is looking into opening restaurants in additional markets and also wants to expand and to improve its menu.Which of the following is an example of secondary data the owners of Mucho Tacos might find useful?

While the four Ps help us remember the basics components of the _________,they don't have significant relevance in the marketing process.

One factor that influences the consumer decision-making process is _________,which refers to the set of values,attitudes,and ways of doing things passed from one generation to another in a given society.

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

Which of the following represents a technique used to obtain primary data?

The consumer market consists of all the individuals or organizations that want goods and services in order to produce other goods and services to sell,rent,or supply to others.

Firms that have adopted _________ seek to do more than simply sell a product;they seek to learn as much as possible about their customers in order to satisfy them with goods and services over time.

A ________ group consists of a small group of people who meet under the direction of a discussion leader to discuss opinions about an organization,its products,or other issues.

The primary factors involved in the marketing mix are sometimes called the 5 intangibles of marketing.

After years of using a mass marketing strategy,Digital Print Shops has responded to new competition from national chain stores by focusing on small market segments that have been ignored by their larger competitors.Digital believes that by offering these market segments personalized customer services it can attract a loyal group of customers willing to pay premium prices.Digital's strategy to improve profits is known as: