Unit 2 Putting the Customer First Review Businesses

Unit 2 - Putting the Customer First Review

Businesses that follow he marketing concept… A. B. C. D. Will face little competition Will always be profitable Will focus on satisfying customer needs Will experience high productivity

Which of the following led to growth in the sports and entertainment industry? A. A high standard of living and increase discretionary income among average consumers B. Rising gasoline prices combined with periods of decreasing productivity in the U. S. economy C. Less competition among sports and entertainment businesses D. None of the above

The peak of Maslow’s hierarchy of needs pyramid represents? A. B. C. D. Physiological needs Self-actualization needs Self-esteem needs Rational purchases

Demographics… A. Categorize market segments by age, gender, race, income, and educational level B. Refer to the frequency of use of a product C. Refers to interests, values, and emotional Reponses D. Consider different parts of the country where market segments live

A. Is the total number of people in a particular age group B. Refers to customers in a particular part of the country C. Is a group of consumers within a larger market who share one or more characteristics D. Is the percentage of total sales of a product or service that a company expects to capture in relation to the competition

The customer service gap A. B. C. D. Is the first step toward quality customer service Is not a major factor for businesses to consider Indicates unmet customer service expectations Must be established and maintained for continued success

An example of a specific market segment is A. B. C. D. Females between the ages of 14 and 18 The entire population of a country where the business is located All women worldwide None of the above

Which of the following is an example of secondary data? A. B. C. D. Observation of consumer behavior Government Census figures Telephone surveys from customers All of the above

The bottom line for maintaining successful marketing relationships is A. B. C. D. Profit Customer satisfaction Increased market share Product quality

When you and your friends decide to attend a concert instead of a football game, the football game becomes your A. B. C. D. Economic alternative Lost purchase Opportunity cost Economic gain

Purchasing a $30 T-Shirt after your favorite college team wins the national championship is an example of a A. B. C. D. Emotional purchase Rational purchase Patronage purchase Unsought purcahse

College athletic conferences used to based on states within close proximity for travel purposes. This type of grouping was based on A. B. C. D. Demographic segmentation Psychographic segmentation Behavioral based segmentation Geographic segmentation

All of the following are examples of “customer service gaps”, except A. B. C. D. Chatting on the phone while customers are waiting to check out Placing a customer on hold for an extend period of time Following up with a customer to determine her level of satisfaction Informing a customer that his question is outside your department

Learning objectives to be familiar with 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Being able to explain the central focus of the marketing concept Able to explain and calculate productivity, breakeven point Tradeoffs and Opportunity Costs Consumer Spending Habits Consumer wants and Needs (Maslow’s Hierarchy) Customer Buying Motives Sources of information, primary vs secondary information Market Segments vs Mass Marketing Target Market and Segmenting Market Share Customer Service