During the selling era: - answer✔✔The prevalent business philosophy turned from an emphasis
on production to an emphasis on advertising and selling.
Which term involves the analysis of markets to identify opportunities and challenges? -
answer✔✔Market Analysis
What is a marketing strategy in which the focus is on small but profitable market segments? -
answer✔✔Niche Marketing
Which marketing era began in response to the development of mass-production assembly lines? -
answer✔✔Selling era
While the four Ps help us remember the basics components of the __________, they don't reveal
all the components in the marketing process. - answer✔✔marketing mix
According to the box "Connecting Through Social Media," although companies like Stitch Fix
are utilizing social media and garnering a ton of "likes" and interactions, what issue are they
struggling with? - answer✔✔turning "likes" into product subscriptions
Consumer decisions regarding the products they buy are often influenced by their nationality,
religion, or ethnic origin. Marketers realize that the consumer decision-making process is
impacted by the consumers': - answer✔✔Subcultures
Comparing the business practices of the 1950s to those of today indicates that today's marketing
managers: - answer✔✔Have a more ambitious goal of not just satisfying customers, but of
exceeding their expectations.
Contacting customers after a sale to reassure them that they made the right decision is intended
to offset: - answer✔✔Cognitive dissonance.
Compared to consumer markets, B2B markets: - answer✔✔Rely less on marketing
intermediaries
Which task would be included in the marketing mix? - answer✔✔Evaluating various distribution
alternatives to determine the best way to get the product to the consumer
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