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Exam 13: The Art and Science of Marketing

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Question 41

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Define marketing.Compare and contrast place marketing with cause-related marketing.

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Marketing refers to the process of creat...

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Question 42

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Micromarketing differs from undifferentiated marketing in that micromarketing ________.

A) ignores differences among buyers
B) focuses on only a single market segment
C) has one marketing mix for the entire market
D) sells a variety of products to several target customer groups
E) targets a single location or even a single customer

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Question 43

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________ is an element of marketing mix that refers to a wide variety of persuasive techniques used by companies to communicate with their target markets and the general public.

________ involves selling more of your existing products into the markets you already serve.

________ refers to managing a business in a way designed to occupy a particular place in the minds of target customers.

Before you decide to purchase a new laptop,you ask some friends and coworkers which model they have purchased and how pleased they are with its performance.This influence factor is known as ________.

Concentrated marketing differs from micromarketing in that concentrated marketing ________.

Customer loyalty is one of the most significant goals of relationship marketing.

Compare and contrast surveys with interviews and focus groups.

Close relationships between buyers and sellers are not common in organizational purchasing.

Discuss the implications of stealth marketing for business communication transparency.

Erikson Manufacturers,a firm that designs and manufactures fire,carbon monoxide,and heat detection and notification devices,has been selling its products to U.S.corporate firms for several years.After examining its current marketing condition,the firm decides to open sales offices in Italy and Germany to sell its existing products.The firm aims to gain market share in Europe.This strategy is known as ________.

Quick Bite is a hugely popular U.S.chain of drive-in fast food restaurants.After assessing the current marketing situation,the firm opens a coffeehouse in Japan.The coffeehouse has a classic style and relaxed atmosphere,which is completely different from the firm's Quick Bite outlets.In this example,the firm uses which of the following marketing strategies?

Solitaire Jewellers,a jewelry store in New York,sells custom-made jewelry.Customers are involved in the design process and can order one-of-a-kind jewels made of platinum,gold,and silver,as well as precious (diamonds,rubies,sapphires,emeralds) and semi-precious (tanzanite,etc.) gemstones.Every customer can order jewelry that is different from the friends of previous and future customers,and made to match their tastes.Solitaire Jewellers uses which of the following targeting strategies?

Compare and contrast concentrated marketing with micromarketing.

ACZ Pharmaceuticals,an American multinational pharmaceutical corporation,conducts "HIV/AIDS Awareness" camps in various cities across the United States.The firm also uses this campaign to promote its latest range of drugs.In this example,ACZ Pharmaceuticals uses ________.

The launch of a product under real-world conditions but on a limited scale (such as in a single city),is a form of neuromarketing studies.

________ refers to the creation and sharing of product-related information among customers and potential customers.

Majestic Shoes Inc.,an international shoes and footwear manufacturing firm,groups its customers according to the region in which they live.The firm markets its range of waterproof,cold-weather footwear in mountainous regions.In this example,Majestic Shoes Inc.uses which of the following targeting strategies?

Which of the following is true about the elements of marketing mix?