What is B2B?

Match the definition to the term.

___ mix is composed of product, price, place, and promotion—the controllable set of activities that a firm uses to respond to the wants of its target markets.

What is relationship orientation?

Supply chain: The group of firms and set of techniques and approaches firms use to make and deliver a given set of goods and services.

Match the definition to the term. 

Which of the following is NOT part of a marketing exchange?

Promotion is ____________ by a marketer that informs, persuades, and reminds potential buyers about a product or service to influence their opinions or elicit a response

What must firms do to become value-driven?

Which of the following would NOT be considered part of a supply chain?

What is the fundamental factor underlying all buyer–seller transactions?

Are ALL of these statements true?

Marketing involves satisfying customer needs.

Marketing requires product, price, place, and promotion decisions.

Marketing helps create value.

A core aspect of marketing is that marketing must be performed only by an organization.

When we are hungry we have a ___ (need/want) to eat something. The preference to satisfy it by consuming a pizza instead of a sandwich is considered a ___ (need/want).

This P, ____, is responsible for developing goods and services

A product can be broken down into services, ideas, and goods. What are goods?

As a way of ___ information, the logistics department can provide purchase histories to those in charge of getting merchandise to stores, so that those people can allocate appropriate merchandise to individual stores.

Services can easily be substituted with goods

Services cannot be separated from the producer.

Components of price

Marketing helps to ____ on a segment-by-segment, region-by-region basis which helps organizations to successfully expand globally.

What is marketing? 

Match the correct P to the definition.

Group.

Over the last 100 years, marketing has evolved from an activity designed simply to produce and sell products to an integral business function aimed at creating ___ for consumers and the company's shareholders.

In a marketing context, customers seek a fair return in goods and/or services for their hard-earned money. They are seeking _____, which reflects the relationship of benefits to costs.

Are all of these statements true?

Firms become value-driven by focusing on:

Using technologies to connect with customers

Balancing customer benefits and costs

Building relationships with customers

Value-oriented marketers constantly measure the value that customers perceive against the cost of their offerings.

In a____ orientation, firms focus on the lifetime value of a relationship with customers, not how much money is made during each transaction.

A transactional orientation takes into account long-term profitability into account.

Which of these is NOT a reason why marketing is important in a company?

Many of the most successful Canadian firms believe that marketers should focus on which of the following beyond developing and marketing products and brands?

People who organize, operate, and assume the risks of a business venture such as idea creation, production, funding, and market development, are called ___

Whati s sustainable competitive advantage?

Customer excellence focuses on?

Which of the following refers to a group of consumers who respond similarly to a firm’s marketing efforts?

One of the keys in place and value delivery is to provide the consumer_______________.

Which of the following is NOT considered a marketing growth strategy?

A diversification strategy introduces a new product or service to a market segment that _______________. 

Step 2 of a marketing plan involves which of the following?

A ____ is a written document that includes the current marketing situation, specified objectives and strategies, action programs, and projected income statements.

Step 5 of the marketing plan involves ______.

If a manager is not very good at making estimates, they may need to be retrained in forecasting. This is an example of

The process of deciding which specific market segment(s) to pursue is known as ____.

A strategy that employs the existing marketing mix and focuses the firm's efforts on increasing sales to current customers is called 

Marketing strategy identifies the bases upon which the firm plans to build a sustainable competitive advantage.

Customer excellence is focused on:

A loyal customer of a firm is enthusiastic about buying from that firm's competitors.

A strategy that employs existing products or services to reach new market segments is called:

In ______ analysis, management evaluates the firm's various products and businesses, and then allocates resources according to potential profit outlook.

______ is achieved through efficient operations, excellent supply chain, and strong relationships with their suppliers.

Firms that achieve a sustainable competitive advantage through their merchandise and service offerings, and through effective branding and positioning, are doing so using ______ excellence.

Locational excellence is unimportant to retailers and service providers.

One key to multiple source advantage is to establish ___

Which of the following is NOT one of the three major phases of the marketing plan?

A mission statement ______.

Brand ______ means that customers are reluctant to patronize competing firms.

SWOT stands for strengths, weaknesses, threats, and opportunities.

 "Strengths" in a SWOT analysis refers to the positive aspects of the ____ (internal/external) environment.

A marketing plan includes: a plan on how to pitch to your investors

With ______, the firm first divides the marketplace into subgroups, determines which of those subgroups it should pursue, and finally decides how it should best position its product or service.

Low brand awareness, limited resources and low customer loyalty would be examples of ______ on the SWOT analysis.

In the fourth step of the planning process, the firm makes important decisions about how it will allocate its infinite resources to its various products and services.

The key to the success of any marketing program is value creation.

Place is the third P and refers to the company making the product readily available where the customer wants it.

What are the main purposes of metrics during Step 5?

A single performance metric would be an acceptable way to measure a firm's overall success.

Revenues, sales, and profits are commonly used strategies to assess performance.

Which statement is TRUE regarding SBUs?

Which of the following are true regarding market share?

Developing a single source of competitive advantage ___.

Which of the following are included in the four major growth strategies?

The product development strategy incorporates a current product or service to a firm's current target market.

A metric is a measuring system that quantifies a trend, dynamic, or characteristic.

Licensing of the brand, a reputation for quality, and a large number of retail stores are examples of potential ______ for firms that might be identified during a SWOT analysis.

A diversification strategy introduces a new product or service to a new market segment, one that currently the firm has not targeted.

The product development strategy offers a new product or service to a firm's current target market.

Match the term to the definition.

Match the definition to the term.

Which of the following is NOT considered part of a company’s immediate environment?

Which of the following are examples of typical demographics?

This group of Canadians can afford a good life most of the time. They tend to be careful about their spending and are often value-conscious. They are known as the ______-class

Firms like iRobot have a long history of developing robotic machines that help consumers undertake daily chores in the house, such as vacuuming. But other home appliances are joining and extending the trend, producing the new notion of the _____

Individuals belonging to ______ tend to be much less interested in shopping than their parents and are far more cynical, which tends to make them astute consumers.

They were the largest cohort of Canadians, they now represent 24% of the population. They have been surpassed by Gen Y in size.

Education, occupation, income, and background are socio-economic factors can Canadians be classified into upper class, middle class, working class, and underclass groups.

Identify the features of upper-class consumers.

Labor unions are apart of the political/legal environment. 

Generation ______ is much less interested in status products than older generations, not because they can't afford them, they just don't see the point.

Baby boomers would be least likely to purchase which of the following products or services?

Low income earners are considered working class.

The components of culture are customs, morals, and beliefs.

Consumers in a generational cohort are a group of people of the same generation having similar purchase behaviors because they have shared experiences and are in the same stage of life

Consumers in a generational____ are a group of people of the same generation having similar purchase behaviours because they have shared experiences and are in the same stage of life

Baby Boomers have an obsession with maintaining their youth.

Which among the following takes decisions based on their own beliefs as well as expectations and does not adopt marketing easily?

When launching a new clothing line, a company must primarily focus on the needs and wants of competitors.

What are the microenvironmental factors that impact consumers?

Marketers can use an analysis of the ____ (internal/external) environment, and input it into a SWOT analysis, to categorize an opportunity as either attractive or unattractive.

When developing marketing plans, what should a firm consider about their competition?

A smartphone manufacturer may collaborate with a company that makes lithium-ion batteries to ensure that their phones have the longest possible battery life. The battery maker is considered the smartphone company's ____ (corporate/competitive/co-branding) partner.

Competition is a macroenvironmental factor that directly influences a firm.

Firms increasingly using artificial intelligence (AI) to complete decision-making.

Inflation refers to the persistent increase in the prices of goods and services. 

Privacy is NOT a currently important social trend for consumers.

Millennials are also called Gen Y.

Consumers often use _____ problem-solving for risky purchase decisions.

Esteem needs to propel a person to ______.

When Katie is looking for her outfit, she might consider things like the selling price, fit, materials and construction quality, the reputation of the brand, and service support that the retailer offers. These are known as evaluative criteria.

"Cultural" is one of the categories in Maslow's hierarchy of needs.

Sometimes older people join Facebook as a way to keep in touch with younger family members. Which of Maslow's needs motivated their decision to join Facebook?

Kirk is typically thrifty and rarely spends much money on himself or others. However, he makes an exception when he buys his wife diamond earrings as an anniversary gift. In this case, the alteration in Kirk's spending behaviour is due to a change in his ____ situation.

Janelle is very loyal to Jif peanut butter, but ______ factors such as a difference in time, availability, condition of the buying location, and inventory shortages may cause her to buy a competing brand.

Gretta has never tried Pert shampoo but she doubts that a shampoo can be as effective as a two-in-one shampoo and conditioner that she uses daily. Her negative predisposition toward the brand is her ____

Situational factors sometimes override psychological and social issues.

Johannes buys an expensive sports car that has a high monthly payment. Two weeks later, he gets laid off from his job and begins to regret buying the car. Johannes is experiencing which of the following?

Limited problem solving is most likely to occur under which of the following conditions?

Perception includes

Marketers are particularly interested in postpurchase behaviour because it entails actual, rather than potential, customers.

For the purchase of an Apple iPod, match each of the three components of the buyer's attitude about the product with its description.

Two consumers both earn $47,000 annually. One owns four motorcycles and enjoys hunting and fishing. The second plays golf weekly and drives an SUV. The marketing manager might target these two consumers as part of two different segments based on their: ___ (lifestyle/buying behaviour/attitudes). 

Political activists are defined distinctly as reference group that might influence the buyer's choices and behaviors.

Typically, consumers exhibit two types of behaviour when buying based on the type of product or service they are purchasing. They commonly engage in ______ problem-solving when buying a car or washing machine and in ______ problem solving when buying shampoo or a box of noodles.

Arthur lost his watch and needed to buy a new one. This time, he decided to purchase a $3,500 Rolex instead of a $25 Timex watch. It made him feel successful. The purchase fulfilled which of the following type of needs?

Regardless of the required search level, there are two key types of information: integrated and external.

Consumers often evaluate alternatives while still engaged in the search process.

Which of the following is NOT one of the factors affecting consumers’ search processes?

The consumer decision process

Decision heuristics are ________ that help a consumer narrow down his or her choices

Which of the following is NOT a step to use to ensure postpurchase

When retailers and service providers have developed unique images that are based at least in part on their internal environment, they are using?

What type of buying decision requires the least amount of time and effort?

Link the terms to the definitions.

Match the term to the definition.

Internal search: Occurs when buyers seek information outside their personal knowledge base to help make the buying decision.

decision heuristics: Mental shortcuts that help consumers narrow down choices; examples include price, brand, and product presentation.

List the correct order for developing a business plan

Group the correct stages to the phase

Select 3 variables that are part of the psychographic segment

An example of psychographic segmentation is when a retail chain segments its markets based on the attitudes and opinions of customers.

An example of psychographic segmentation is when a retail chain segments its markets based on the where the customers live.

the component of segmentation that is determined by how we live our lives to achieve goals is called ______.

VALS shows _____ between psychology and lifestyle choices.

psychographic segmentation is criticized for ______.

which of the following is not one of the ways one would segment a market based on behaviour?

Sometimes men need a suit for their everyday work, but other suits are expressly for special occasions, like a wedding. This type of behavioural segmentation is known as ______ segmentation. 

Psychographics are more ______ (expensive/cheap) as a way to identify potential customers.

grouping consumers on the basis of the benefits they derive from products or services, or their usage rates of products is known as which type of segmentation?

these customers buy almost exclusively from the firm and are the most profitable in the long term. These customers are considered _____ customers.

after evaluating each market segment's attractiveness, the next step in the STP process is ______.

What is NOT a targeting strategy

Estee Lauder has a brand portfolio with more than 25 brands in over 150 countries. Having a variety of brands allows Estee Lauder to 

market positioning is a process of defining the marketing mix variables so that the target customers ______. 

firms position their products based on methods such as 

Market positioning is done so that the target customers have an understanding of the product offered by the company in comparison with _____ products.

what is used to display, in two or more dimensions, the positions of products or brands in the consumer's mind?

a point where a market segment's desired product would be located on a perceptual map is called a(n) _______ (standard/ideal) point.

after establishing overall objectives, why do marketers then use a particular method or combination thereof to identify and describe market segments?

firms position products based on methods including: