Midterm Review Game SECOND GAME GROUP 3 GROUP

Midterm Review Game – SECOND GAME GROUP 3 GROUP 1 GROUP 2 GROUP 4 GROUP 5 100 100 100 200 200 200 300 300 300 400 400 400 500 500 500

_____ are human needs as shaped by individual personality and culture.

WANTS

When backed by buying power, wants become ______?

DEMANDS

_____ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs.

MARKETING MYOPIA

What is the likely result of a marketing strategy that attempts to serve all customers?

No customers will be satisfied.

A firm that uses the selling concept takes a(n) ____ approach.

INSIDE-OUT APPROACH

The Nike town running club that organizes twice weekly for evening runs is an example of a ____.

CLUB MARKETING PROGRAM

Frequent flyer programs offered by airlines are an example of a ____.

FREQUENCY MARKETING PROGRAM

Stew Leonard, owner/operator of supermarkets, reacts adversely to losing a single customer sale. He feels that this amounts to losing the entire stream of future purchases that a customer is likely to make if he/she remains in the area. This is an illustration of ____.

CUSTOMER LIFETIME VALUE

What provides an answer to these questions: What is our business? Who are our customers? What do our customers value? What should our business be?

The Question is: MISSION STATEMENT

What is currently the fastest-growing form of marketing? DAILY DOUBLE

CONSUMER GENERATED MARKETING

_____ are low-growth, high share businesses or products. They generate a lot of cash that the firm uses to pay its bills and support other SBUs that need investment.

CASH COWS

_____ is the place a product occupies in the consumer’s mind relative to competition.

PRODUCT POSITION

Effective positioning begins with ____ the company’s marketing offer in order to give consumers more perceived value.

DIFFERENTIATING

Kimball Gardens is a company that operates as two distinct businesses—one that sells lawn and garden products and one that markets booklets. Each business is called a ____. DAILY DOUBLE

SBU – STRATEGIC BUSINESS UNIT

All of the groups within a company are called the ____.

INTERNAL ENVIRONMENT

What movement has encouraged marketers to pursue environmentally sustainable strategies?

THE GREEN MOVEMENT

What is the most dramatic force shaping modern marketing?

TECHNOLOGY

What is central to any definition of marketing?

CUSTOMER RELATIONSHIPS

_____ is the set of actual and potential buyers of a product.

A MARKET

The set of marketing tools a firm uses to implement its marketing strategy is called the ____.

MARKETING MIX

What is the term for customers who make repeat purchases and tell others about their positive experiences with a product or service?

CUSTOMER EVANGELISTS

The collection of businesses and products that make up a company is called its ____.

SBU – STRATEGIC BUSINESS UNIT

_____ entails reducing the business portfolio by eliminating products that no longer fit the company’s overall strategy.

DOWNSIZING

The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors is called ____.

MARKET SEGMENTATION

Marketers should be aware of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society. This is the ____ environment.

POLITICAL ENVIRONMENT