University of Memphis

marketing 3410 ch 1customer needs vs wants - correct answer needs are when a person feels deprived of basic necessities while a want is shaped by knowledge, culture, and personality. a marketer tries to satisfy both. environmental forces - correct answer social, economical, technological, competitive, and regulatory forces marketing mix - correct answer product, price, place, promotion, all of which are controllable factors customer value - correct answer quality, price, convenience, on...

marketing 3410 ch 2strategy - correct answer long-term course of action designed to deliver a unique customer experience while achieving its goals. developed by top management strategic business unit - correct answer division of an organization that markets a set of relate offering to a specific target market functional level - correct answer where groups of specialists actually create value for the organization mission - correct answer a statement of the organizations function in socie...

MARKETING 3410 CH 2What people think they are dealing with? - correct answer -Used car salesperson (push wants you to buy a car that day) -Act as if there are no problems with salespeople -We are trying to professionalize sales in a way that moves away from pushy process -Salespeople must maintain the highest level of integrity and professional ethics what is the goal of sales - correct answer Long term mutually beneficial profitable relationships with customers trust - correct answer T...

marketing 3410 ch3baby boomers - correct answer born between 1946 and 1964 (ages 71-53) generation x - correct answer born between 1965 and 1976 (ages 52-41) generation y - correct answer born between 1977 and 1994 (ages 41 to 23) culture - correct answer the set of values, ideas, and attitudes that are learned and shared among members of a group gross income - correct answer the amount of money a person makes in a year disposable income - correct answer money consumer has after p...

Marketing 3410 Chapter 1Personal Selling - correct answer an important part of marketing; relies heavily on interpersonal interactions between buyers and sellers to initiate, develop, and enhance customer relationships The interpersonal communications dimension sets personal selling apart from other marketing communications that are directed at mass markets - correct answer What is the difference between personal selling and other marketing communications? high degree of immediate customer...

Marketing 3410 Chapter 2trust - correct answer the extent of the buyer's confidence that he or she can rely on the salesperson's integrity 1. Do you know what you are talking about? (competence, expertise) 2. will you recommend what is best for me? (customer orientation) 3. Are you truthful? (honesty, candor) 4. Can you and your company back up your promises? (dependability) 5. Will you safeguard confidential information that I share with you? (customer orientation, dependability) - cor...

Marketing 3410 Chapter 3consumer market - correct answer a market in which consumers purchase goods and services for their use or consumption business market - correct answer a market composed of firms, institutions, and governments who acquire goods and services to use as inputs into their own manufacturing process, for use in their day-to-day operations, or for resale to their own customers concentrated demand - correct answer small number of large buyers account for most of the purchase...

Marketing 3410 Chapter 6sales call - correct answer an in-person meeting between a salesperson or sales team and one or more buyers to discuss business sales dialogue - correct answer business conversations over time between buyers and sellers that occur as salespeople attempt to initiate, develop, and enhance customer relationships. Should be customer-focused and have a clear purpose sales presentations - correct answer comprehensive communications that convey multiple points designed to ...

Marketing 3410 Chapter 7check-backs or response checks - correct answer seeking feedback from the buyer -employed at two key points: 1. after a specific feature-benefit sequence in order to confirm the benefit and better assess the prospective buyer's level of interest; 2. following the response to an objection in order to evaluate the level to which the salesperson has handled the problem confirmed benefits - correct answer benefits the buyer had indicated are of interest; specific to the ...

Marketing 3410 Chapter 10self-leadership - correct answer the process of guiding oneself to do the right things and do them well -set goals and objectives -analysis of the territory and classification of accounts -strategic plans designed to achieve the objectives -tapping technology and automation to expand resource capabilities -assessment and evalutation - correct answer 5 sequential stages of self leadershp: -realistic, yet challenging -specific and quantifiable -time specific -...