International Marketing Chapter 2 Test

Economic uncertainty has a direct impact on consumer purchases.

External sources of information for businesses do not come from _________.

The _________________ is a specific group of consumers that a company wants to reach.

The first step in marketing a product is to determine _________.

Each of the following is an example of a market segment except ________.

______________ is the capability to produce products or services more efficiently and economically than the competition

Employees need to remember that customer service is everyone's responsibility.

_________________ based upon loyalty to a particular brand or product.

Producers are the driving force behind the marketing concept.

About half of every dollar that consumers spend on products pays for marketing costs.

The _________________ is focused on satisfying customer needs.

Young families often spend entertainment dollars to attend sporting events for their children.

The increased standard of living in the United States has resulted in less discretionary income for consumers.

Physiological needs include recognition and respect from others.

_________________ is the value that people believe they receive from a product or service.

Marketers should never group consumers based on the benefits derived from products or services.

_________ is based upon age, income, education, and other distinguishing characteristics of a particular market segment.

_________________ represents the minimum sales required to cover all of the expenses

_ segmentation divides markets into physical locations, such as Eastern, Northern, Southern & Western regions of the US.

The marketing concept ________.

Mass marketing is used by companies when they are trying to appeal to a diverse group of consumers with different needs.

Secondary data ________.

The _________________ is the difference between what customers expect and the service they receive from a business.

______ is the % of total sales of a product/service that a company expects to capture in relation to its competitors.

Most consumers_________.

Two major goals of marketing are to determine what consumers want and how much they are willing to pay.

_________________ are made with little thought during emotional highs or lows.

The best strategy for a business to rise above the competition is to provide uncompromising, outstanding customer servi

__________ is not part of Maslow’s Hierarchy of Needs.

Teenagers in the United States spend billions of dollars annually, making them a desirable target market.

_________________ includes the five major human areas of need.

________ is the rate at which companies produce goods/services in relation to the amount of materials & # of employees.

Emotional purchases are more likely not to occur when ________.

Companies that have a comparative advantage are able to pass savings to their customers in the form of lower prices.

A values-based culture communicates values through high performance and excellent customer service.

Purchases based upon careful thought and sound reasoning are __________ purchases.

Today’s consumers ________.

Mystery guests are sometimes hired to determine how well companies are performing customer service.

The marketing concept requires maintenance of important relationships with customers.

Realization of one’s self potential is referred to as the __________ need in Maslow’s Hierarchy of Needs.