BUS 115 EXAM 4 (CH. 13, 14, 16,
18)ACCURATE 100%
Marketing - ANSWER the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and society at large
Marketing Concept - ANSWER a three-part business philosophy 1)customer orientation
2) service orientation 3) profit orientation
Marketing Mix - ANSWER the ingredients that go into a marketing program: product,
price, place, and promotion
Promotion - ANSWER all the techniques sellers use to inform people about and
motivate them to buy their products and services
Brand Name - ANSWER
Consumer Market - ANSWER all the individuals or households that want goods and
services for personal consumption use
Market Segmentation - ANSWER the process of dividing the total market into groups
whose members have similar characteristics
Target Marketing - ANSWER marketing directed toward those groups (market
segments) an organization decides it can serve profitably
Geographic Segmentation - ANSWER dividing a market by cities, counties, states, or
regions
Psychographic Segmentation - ANSWER dividing the market using groups' values,
attitudes, and interests
Demographic Segmentation - ANSWER dividing the market by age, income, and
education level
Mass Marketing - ANSWER Developing products and promotions to please large
groups of people
Relationship Marketing - ANSWER marketing strategy with the goal of keeping
individual customers over time by offering them products that exactly meet their
requirements
, Value - ANSWER good quality at a fair price. When consumers calculate value of a
product, they look at the benefits and then subtract the cost to see if the benefits exceed
the costs
Total Product Offer - ANSWER everything that consumers evaluate when dividing
whether to buy something. Also called a value package
Promotion Mix - ANSWER the combination of promotional tools an organization uses
Advertising - ANSWER paid, non-personal communication through various media by
organizations and individuals who are in some way identified in the advertising message
Product Placement - ANSWER putting products into TV shows and movies where they
will be seen
Infomercial - ANSWER a full-length TV program devoted exclusively to promoting goods
or services
Personal Selling - ANSWER the face-to-face presentation and promotion of goods and
services
Prospecting - ANSWER researching potential buyers and choosing those most likely to
buy
Qualifying - ANSWER in the selling process, making sure that people have a need for
the product, the authority to buy, and the willingness to listen to a sales message
Prospect - ANSWER a person with the means to buy a product, the authority to buy,
and the willingness to listen to a sales message
Public Relations (PR) - ANSWER the management function that evaluates public
attitudes, changes policies and procedures in response to the public's requests, and
executes a program of action and information to earn public understanding and
acceptance
Publicity - ANSWER any information about an individual, a product, or organization
that's distributed to the public through the media and that's not paid for or controlled by
the seller
Sampling - ANSWER a promotional tool in which a company lets consumers have a
small sample of a product for no charge
Word-of-Mouth Promotion - ANSWER a promotional tool that involves people telling
other people about the products they've purchased
18)ACCURATE 100%
Marketing - ANSWER the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and society at large
Marketing Concept - ANSWER a three-part business philosophy 1)customer orientation
2) service orientation 3) profit orientation
Marketing Mix - ANSWER the ingredients that go into a marketing program: product,
price, place, and promotion
Promotion - ANSWER all the techniques sellers use to inform people about and
motivate them to buy their products and services
Brand Name - ANSWER
Consumer Market - ANSWER all the individuals or households that want goods and
services for personal consumption use
Market Segmentation - ANSWER the process of dividing the total market into groups
whose members have similar characteristics
Target Marketing - ANSWER marketing directed toward those groups (market
segments) an organization decides it can serve profitably
Geographic Segmentation - ANSWER dividing a market by cities, counties, states, or
regions
Psychographic Segmentation - ANSWER dividing the market using groups' values,
attitudes, and interests
Demographic Segmentation - ANSWER dividing the market by age, income, and
education level
Mass Marketing - ANSWER Developing products and promotions to please large
groups of people
Relationship Marketing - ANSWER marketing strategy with the goal of keeping
individual customers over time by offering them products that exactly meet their
requirements
, Value - ANSWER good quality at a fair price. When consumers calculate value of a
product, they look at the benefits and then subtract the cost to see if the benefits exceed
the costs
Total Product Offer - ANSWER everything that consumers evaluate when dividing
whether to buy something. Also called a value package
Promotion Mix - ANSWER the combination of promotional tools an organization uses
Advertising - ANSWER paid, non-personal communication through various media by
organizations and individuals who are in some way identified in the advertising message
Product Placement - ANSWER putting products into TV shows and movies where they
will be seen
Infomercial - ANSWER a full-length TV program devoted exclusively to promoting goods
or services
Personal Selling - ANSWER the face-to-face presentation and promotion of goods and
services
Prospecting - ANSWER researching potential buyers and choosing those most likely to
buy
Qualifying - ANSWER in the selling process, making sure that people have a need for
the product, the authority to buy, and the willingness to listen to a sales message
Prospect - ANSWER a person with the means to buy a product, the authority to buy,
and the willingness to listen to a sales message
Public Relations (PR) - ANSWER the management function that evaluates public
attitudes, changes policies and procedures in response to the public's requests, and
executes a program of action and information to earn public understanding and
acceptance
Publicity - ANSWER any information about an individual, a product, or organization
that's distributed to the public through the media and that's not paid for or controlled by
the seller
Sampling - ANSWER a promotional tool in which a company lets consumers have a
small sample of a product for no charge
Word-of-Mouth Promotion - ANSWER a promotional tool that involves people telling
other people about the products they've purchased
