Chapter 1 Concept Challenge Quiz

Costs and mass distribution your answer false correct

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Unformatted text preview: duction efficiency, low costs, and mass distribution. Your Answer: False Correct 17. Holistic marketing incorporates internal marketing and relationship marketing. Your Answer: True Correct 18. Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well. Your Answer: True 8/27/2012 1:44 PM Your Results for "Concept Challenge Quiz" 4 of 5 http://wps.prenhall.com/wps/grader Correct 19. Cause-related marketing is a special form of the relationship marketing concept. Your Answer: False Correct 20. Suppliers are found in a company's microenvironment. Your Answer: True Correct 21. List and describe the eight demand states of consumers. Give an example for each. Your Answer: Chapter 1 Page 8 The eight possible demand states are: negative demand, non-existent demand, latent demand, declining demand, irregular demand, full demand, overfull demand, and unwholesome demand. In a negative demand state consumers dislike the product and may even pay a price to avoid it. Consumers may avoid public transportation and pay a premium price to take taxicabs just to avoid it. In a non-existent demand state consumers may be unaware or uninterested in the product. Examples include any product for which a consumer might be unaware, like an operetta playing in a local theatre for which consumers have no interest. In a latent demand state consumers may share a strong need that cannot be satisfied by an existing product. A large SUV with 50 m.p.g. rating would be an example. In a declining demand state consumers begin to buy the product less frequently or not at all. Cloth diapers are an example. In an irregular demand state consumer purchases vary on a seasonal, monthly, weekly, daily, or even hourly basis. Snow shovels are good examples here. In a full demand state consumers are adequately buying all products put into the marketplace. Gasoline is an example. In an overfull demand state too many consumers would like to buy the product than can be satisfied. This often happens around Christmas-time when consumers rush to buy a product and demand overruns supply. Finally, an unwholesome demand state is when consumers are attracted to products that have undesirable social consequences. Cigarettes and liquor are examples. 22. To reach a target market, marketers use three kinds of marketing channels. Discuss and distinguish between each of these. Your Answer: Chapter 1 Page 11 1. Communication channels deliver and receive messages from target buyers. Distribution channels are used to display, sell or deliver the physical product or service to the buyer or user. 2. Service channels carry out transactions with potential buyers 8/27/2012 1:44 PM Your Results for "Concept Challenge Quiz" 5 of 5 http://wps.prenhall.com/wps/grader buyers. These marketing channels each use a different medium to reach target buyers. The challenge for marketers is to design a good mix of these three channels for their offerings. 8/27/2012 1:44 PM...
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This note was uploaded on 10/06/2013 for the course BUSI 520 taught by Professor N/a during the Fall '12 term at Liberty.

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