Marketing Customer
The ongoing process of acquiring, maintaining, and growing profitable customer relationships by delivering unmatched value is known as Customer Relationship Management. True or False
What is True
A target market is a specific group of customers who should be interested in your product, have access to it, and have the means to buy it. True or False
What is true?
A _____ is a group of products that are closely related to each other.
What is a product line?
Ongoing effort to create positive relationships with all of a firm’s different “publics” is known as public relations. True or False
What is true?
The retail price of $10.00 is an example of an odd-pricing strategy. True or False
What is false?
The theory of motivation that primarily deals with the relationship among individual effort, individual performance, and individual reward is called___.
What is expectancy theory?
The _____ of an organization defines the organization's purpose, values, and core goals, providing the framework for all other plans.
What is mission?
_____ is focused on maximizing the effectiveness of the workforce by recruiting world-class talent, promoting career development, and determining workforce strategies to boost organizational effectiveness.
What is human resource management?
If a spokesperson on a television commercial in Montana is advertising snowmobiles for use on roads closed to vehicles in the winter, what type of marketing segment best describes this advertisement?
What is geographic?
____ is achieved when customers perceive that a good or service delivers value above and beyond their expectations.
What is customer satisfaction?
Which of the following involves identifying the attributes that make a good or service dissimilar from other products that compete to meet the same or similar customer needs?
What is product differentiation?
A _____ is the total number of product lines and individual items sold by a single firm.
What is product mix?
_____ provide a complete array of services to the retailers or business users who typically purchase their goods.
What are full-service merchant wholesalers?
In the context of management skills, _____ refer to the ability to work effectively with and through other individuals in a range of different relationships.
What are human skills?
Which of the following is a motivation theory that suggests that management attitudes toward workers fall into two opposing categories based on management assumptions about worker capabilities and values?
What is McGregor’s theory X and theory Y
The process of seeking employees who are currently within the firm to fill open positions is known as _____.
What is internal recruitment?
_____ is achieved when customers buy a product from the same supplier again and again—sometimes paying even more for it than they would for a competitive product.
What is customer loyalty?
_____ direct their efforts to customers who are buying products to use either directly or indirectly to produce other products.
What are business markets?
The overall value of a brand to an organization is called _____.
What is brand equity?
_____ is when established brands from different companies join forces to market the same product.
What is co branding?
Planning and coordinating the movement of products, from the raw materials to the final consumers, is called _____.
What is supply chain management?
The _____ of a firm includes managers who directly supervise non-management employees
What is first-line management?
According to Maslow’s Hierarchy of Needs, which need is the most fundamental?
What are physiological needs?
_____ is a formal feedback process that requires managers to give their subordinates feedback on a one-to-one basis, typically by comparing actual results to expected results.
What is a performance appraisal?
_____ refers to dividing the market based on measurable characteristics about people such as age, income, ethnicity, and gender.
What is demographic segmentation?
The blend of marketing strategies for product, price, distribution, and promotion is known as _____.
What is marketing mix?
A _____ is a pattern of sales and profits that typically changes over time.
What is product life cycle?
_____ are the distributors that buy products from producers and sell them to other businesses or non-final users such as hospitals, nonprofits, and the government.
What are wholesalers?
_____ is a long-term discount pricing strategy, designed to achieve profitability through high sales volume.
What is everyday-low pricing?
_____ is a new product pricing strategy that aims to maximize profitability by offering new products at a premium price.
What is Skimming pricing?
A(n) _____ is a visual representation of the company's formal structure.
What is an organization chart?
The term _____ refers to the combination of pay and benefits that employees receive in exchange for their work.
What is compensation?
In the context of the marketing environment, the percentage of a market controlled by a given marketer is known as _____.
What is market share?
In the context of consumer product categories, _____ are expensive products that consumers buy less frequently.
What are shopping products?
In the context of consumer product categories, _____ are those expensive products that consumers seldom purchase
What are specialty products?
_____ is a plan for delivering the right product to the right person at the right place at the right time.
What is distribution strategy?
_____ is a new product pricing strategy that aims to capture as much of the market as possible through rock-bottom prices.
What is penetration pricing?
The _____ is the gap between the cost and the price of an item on a per-product basis.
What is profit margin?
_____ help current and potential executives develop the skills they need to move into leadership positions.
What are management development programs?
_____ refer to the pay that employees receive in exchange for the number of hours or days that they work.
What are wages?