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Scott, MIT Graduate
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____________________ is an organizational function and a set

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____________________ is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. (Points :5) Production Marketing Utilization Intrapreneurship 2. In the ________________ era, many companies adopted the philosophy that consumer satisfaction should be the central focus of the entire organization. (Points :5) marketing production selling laissez faire 3. A common error marketers commit when trying to generate customer satisfaction is to (Points :5) focus on value rather than price. develop relationships with individual customers rather than focusing on the market as a whole. put too much emphasis on the marketing concept. underpromise, thus setting consumer expectations too low. 4. __________________ segmentation is the vital starting point for most marketers. (Points :5) Psychographic Use-pattern Demographic Cultural 5. Which of the following sets of terms describe approaches used by B2C marketers to segment their markets? (Points :5) reactive, adaptive, and resistant responders. opportunistic, altruistic, and grassroots buyers. bleeding edge, leading edge, and seeding edge customers. demographic, psychographic, and behavioral factors. 6. Analysis of market share is a key to understanding the firm’s (Points :5) social and cultural environment. promotion strategy. demographic strengths. competitive environment. 7. Marketing in foreign markets requires altering the goods or services offered to meet the taste of local customers. Therefore, business leaders must develop a _______________ to meet customer needs in each key market. (Points :5) global marketing environment global database global marketing mix high level of technological expertise 8. ___________________ refers specifically to how people act when buying goods and services for personal consumption. (Points :5) Customer purchasing Cognitive dissonance Consumer behavior Utility maximization 9. In order to help customers feel comfortable with their decision to purchase a new car, manufacturers are offering extended warranties, free oil changes, and maintenance checks. This is an effort to offset (Points :5) buyer retroaction. cognitive dissonance. demand elasticity. consumer proactivity. 10. Within the last few decades, marketing has been greatly impacted by (Points :5) an increasing reliance on secondary sources of data. the observation method of collecting consumer information. a call for greater social responsibility and the increase in the use of technology. a decline in the effectiveness of environmental scanning. 11. _____________ consist of small ticket items that businesses consume on an on-going basis but are not needed to develop a final product. (Points :5) Maintenance, repair, and operating products Accessory equipment Convenience goods “Category B” inventory items 12. _________ is/are purchased by businesses to facilitate operations. Examples include marketing research and marketing services. (Points :5) Product services Pure services Business services Cannibalization 13. ________ is/are unfinished products used in producing other products. (Points :5) Accessory equipment Maintenance, repair, and operating products Component parts and processed materials Raw materials 14. A product _______ is a group of products offered by a firm that are closely related to each other, either in terms of how they work, or the customers they serve. (Points :5) mix line spectrum category 15. Marketers in the clothing business often create private brands in an effort to (Points :5) gain exposure based on product recognition. leverage strengths to enter new markets. create and protect an upscale image. bolster a reputation that links to the company’s brand. 16. _____________ involves purchasing the right to use another company’s brand name or symbol. (Points :5) Diffusion Line extension Branding Licensing 17. During the product development process, ideas that do not meet the company’s mission or are too expensive to develop would be eliminated in the ________________ phase. (Points :5) idea generation idea screening analysis development 18. The stages of the new product development process are (Points :5) idea generation, idea screening, analysis, development, testing, and promotional planning. idea generation, idea screening, analysis, development, testing, and commercialization. idea generation, idea screening, market research, focus groups, intercept surveys, and observation research. idea generation, idea screening, market research, development, testing, and observation research. 19. The _______________ is a theoretical model that includes the stages of introduction, growth, maturity, and decline. (Points :5) product life cycle product diffusion cycle product adoption cycle product sustainability cycle 20. Once a product enters the _____________ stage, it can only increase its sales at the expense of competitors. (Points :5) introduction growth decline maturity
Submitted: 6 years ago.
Category: Homework

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