_____ is defined as the expected earnings stream of a firm’s current and prospec
ID: 430103 • Letter: #
Question
_____ is defined as the expected earnings stream of a firm’s current and prospective customers over some period of time.
Customer service
Customer profiling
Customer lifetime value
Customer equity
Customer earning potential
With which of the four Ps of the marketing mix are retailers, wholesalers, warehouses, and transportation firms associated?
Product
People
Place
Promotion
Price
_____ is the variable of the marketing mix that may involve a physical good, a service, or a blend of both.
Price
Promotion
Person
Product
Place
Natural Essences, a company that manufactures hair products, offers “dollar-off coupons” to adult women to get them to try its shampoos and conditioners. This is an example of:
sales promotion.
publicity.
personal selling.
diversification.
product development.
Trying to increase sales by selling present products in new markets is known as _____.
market integration
diversification
product development
market development
market penetration
In the marketing mix, the customer is:
not the target market for the marketing mix.
one of the four components of the marketing mix.
the target of all marketing efforts.
the “Person” in the four Ps of the marketing mix.
the entity that selects the marketing mix.
Which of the following statements about the marketing mix variables is false?
The marketing mix variable “Price” is more important than “Place.”
The needs of a target market virtually determine the nature of an appropriate marketing mix.
The term “product” refers to services as well as physical goods.
Promotion includes personal selling, mass selling, and sales promotion.
A channel of distribution does not have to include any intermediaries.
A “marketing program”:
blends all of the firm’s marketing plans into one “big” plan.
is another name for a particular marketing mix.
consists of a target market and the marketing mix.
is primarily concerned with all of the details of implementing a marketing plan.
must be set before a target market can be selected.
Target marketing differs from mass marketing in that:
target marketing is tailored to fit some specific target customers while mass marketing roughly aims at everyone with the same marketing mix.
target marketing considers everyone to be a potential customer while mass marketing considers only specific people to be potential customers.
target marketing is limited to large market segments while mass marketing is limited to markets that are small and clearly defined.
target marketing is limited to fairly heterogeneous market segments while mass marketing is limited to fairly homogeneous market segments
The text’s discussion of “hit-or-miss” marketing suggests that:
it is fairly common for marketing efforts to turn out poorly, so to avoid that fate and get better than average results, a good manager needs to use a logical process for marketing strategy planning.
managers who seek big breakthroughs, rather than going after easier to achieve marketing opportunities, face big risks and are likely to fail.
all of these are correct answers.
getting good marketing results is really quite easy as long as the marketing manager focuses on the four Ps.
firms that don’t spend more on marketing than their competitors are likely to fail.
Explanation / Answer
sales promotion
Sales promotion refers to those promotion activities that stimulate interest, trial, or purchase by final customers or others in the channel. This can involve use of coupons, point-of-purchase materials, samples, signs, contests, events, catalogs, novelties, and circulars.
market development
Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.
blends all of the firm’s marketing plans into one “big” plan.
A marketing program blends all of the firm's marketing plans into one big plan.
1 Customer equity 2 Price 3 Product 4sales promotion
Sales promotion refers to those promotion activities that stimulate interest, trial, or purchase by final customers or others in the channel. This can involve use of coupons, point-of-purchase materials, samples, signs, contests, events, catalogs, novelties, and circulars.
5market development
Market development means trying to increase sales by selling present products in new markets. This may involve searching for new uses for a product, advertising in different media to reach new target customers, or adding channels of distribution or new stores in new areas, including overseas.
6 the target of all marketing efforts. 7 A channel of distribution does not have to include any intermediaries. 8blends all of the firm’s marketing plans into one “big” plan.
A marketing program blends all of the firm's marketing plans into one big plan.
9 target marketing is limited to large market segments while mass marketing is limited to markets that are small and clearly defined. 10 all of these are correct answers.Related Questions
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