mkt 300 exam one
target market
The Escapade Academy is developing its marketing mix for the coming year. Its managers know that they must first select ___________________________ which may be the most important decision they make in the planning process
primary data secondary data
CalAtlantic Group needs information about trends in housing starts and remodeling around the country. Since it will be difficult to collect _____________________ from the numerous locations, it decides to use ______________________ from the U.S. Department of Commerce reports to get this information.
population
Gabrielle Jackson is running for Congress from the Fifth District in her state. She is interested in knowing the intended choices of the voters. All the registered voters in her district would constitute the study's ______________________.
marketing information system
A framework for gathering and managing information from sources both inside and outside an organization is referred to as a ____________________________________.
market
A group that has the willingness, ability, and authority to buy a product is a ____________________.
Product Price Distribution (Place) Promotion
A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. ______________, _____________, _______________ and _______________ are the essential variables that the marketing manager combines.
income wealth credit
A person's buying power is a function of _______________, _______________, and _______________.
first-mover advantage
A(n) ____________________________ is the ability of an innovative company to achieve long-term competitive advantages by being the first to offer a certain product in the marketplace.
environmental analysis
A(n) ____________________________________ includes a detailed assessment of the competitive, economic, political, legal, regulatory, technological, and sociocultural factors that could affect marketing activities
marketing concept
According to the _______________________, an organization should try to provide products that satisfy customers' needs and allow the organization to achieve its goals.
be heard
According to the consumer bill of rights, the idea that consumers' interests should receive full and sympathetic consideration in the formulation of government policy is known as the right to _____________________.
hypothesis
An informed guess or assumption about a certain problem or set of circumstances is known as _________________.
prosperity
Assuming that inflation is low, high buying power characterizes the _________________ stage of the business cycle.
collecting data
Big Valley General Hospital has designed an upcoming research project for determining the best methods for improving patient care. The next step the organization must take in the marketing research process is _________________________.
predict consumers future buying behaviors (discover unique insights and make strategic marketing decisions)
Big data allows marketers to look at patterns of consumption behavior in order to __________________________________________.
focus group interviews
Chrisjen Nagata and seven other people were paid to get together and discuss a new product idea proposed by Procter & Gamble. Researchers observed the interaction of the group. During the discussion, Chrisjen was annoyed that Sadavir, another participant, seemed to "hog" the discussion and didn't give others a chance to speak. This is an example of a problem when using _______________________________.
marketing opportunity (sociocultural force)
Coca-Cola executives realized that more consumers are concerned with health. It has since expanded into the bottled water and sports drink markets. This is an example of a firm identifying and capitalizing on a ______________________________.
brand
Dasani, SmartWater, Aquafina, Glaceau, PureLife, and Fiji are examples of __________ competitors in the beverage industry.
primary data
Data that are observed or collected directly from respondents are called _____________________.
product
Deciding to add gel insoles to its running shoes would be a change in the ____________ element of the marketing mix for Nike.
legal
DoneFast Inc. is a very profitable automobile repair shop. The company is well known for its speedy service and involvement in the community, but it fails to properly dispose of its used oil as outlined in environmental regulations. DoneFast is failing in its ____________ responsibilities.
big data
High-volume data collected from social networks, RFID, retailer scanning, purchases, logistics, and production that marketers can use to discover unique insights and make more knowledgeable marketing decisions is best characterized as ___________________.
cultural values (marketing environment)
In addition to the proliferation of new organic brands, many conventional marketers have introduced organic versions of their products, including Gatorade, Kraft Heinz, and even Kroger. These firms are responding to changes in __________________________.
sample
In marketing research, a _______________ is best described as a limited number of units chosen to represent the characteristics of a total population.
first-mover advantage
In the Chapter 2 lecture, we watched a SpaceX video. Based on information in that video, what advantage does SpaceX have over China?
product
In the Chapter 3 lecture, White Claw was shown as the ________________ competitor for Michelob Ultra?
total budget
In today's marketing environment, competitors can take on many forms. For example, a Starbucks latte can be seen as a competitor to an issue of The New York Times. In this circumstance, these two products are described as ______________________ competitors.
marketing strategy
Kroger Food Stores is involved in identifying and analyzing a target market. The firm then develops a marketing mix to satisfy individuals in that market to gain long-term competitive advantages. Based on this example, Kroger is creating a __________________________.
strategic planning
Managers at the Tycho Manufacturing are engaged in a complex process of revising their organization's mission and goals and developing corporate strategy, marketing objectives, marketing strategy, and eventually a marketing plan. This process is called ___________________________.
ideas
Never Again MSD is a group that works to change attitudes and laws about gun control. Never Again MSD primarily markets ____________.
philanthropic
STM is located in a small city that has limited economic growth at this time. Due to the condition of the local school system, STM contributed $1 million to repair and revive it, stating that STM believed in education for the community. This action would imply that STM is in the ________________________ level of the pyramid of social responsibility?
strengths
Sony's strong name recognition and solid customer demand for its televisions and game systems are two elements of the firm's _______________.
focus group
The Nike soccer shin guard video we watched during the Chapter 4 lecture is an example of a(n) ________________________.
random
The _______________ sampling design gives every member of the population an equal chance of appearing in the sample.
wealth
The accumulation of past income, natural resources, and financial resources is known as ______________.
Customers and businesses
The definition of marketing implies that ____________________ should receive benefits from exchange relationships.
reporting research findings
The final step in the marketing research process is ___________________________.
establish performance standards
The first step in the strategic performance evaluation is to ___________________________________.
customers
The focal points of all marketing activities are ______________________.
political legal and regulatory sociocultural technological economic competitive
The forces of the marketing environment include _______________, __________________, __________________, _______________, __________________, and ___________________.
market share
The percentage of a market which actually buys a specific product from a specific company is referred to as that product's __________________________.
services ideas goods
The three basic forms that a product can take are ____________, ____________, and ___________.
probability sampling nonprobability sampling
The two basic types of sampling that marketing researchers use are _________________________ and _________________________.
cash cow
Tom's of Maine's natural toothpaste is highly popular but is unlikely to experience much more market growth. As a result, Tom's of Maine is examining other forms of toothpaste with high potential for growth. However, because its natural toothpaste remains so profitable, it can use these profits to invest in newer toothpastes. Tom's of Maine's natural toothpaste is an example of a ______________________.
promotion
When Home Depot develops new carpet fibers that are highly stain-resistant and durable, it must educate consumers about the product's benefits. This calls for activity in which of the following marketing mix variables ________________.
product promotion
When SmartSheet, a producer of software, delayed the introduction of its new spreadsheet app to modify the package, its scheduled TV advertisements announcing the new product needed to be revised. In this case, a change in the _____________ variable caused changes in the ______________ variable of the marketing mix.
credit
When using ______________ to make purchases, consumers are increasing current buying power at the expense of future buying power
strategic business unit
Within a business organization, a profit center that is self-supporting in terms of sales, markets, production, and other resources is known as a ________________________________.
environmental scanning
Zappos collects information about a wide variety of competitive, economic, political, legal and regulatory, technological, and sociocultural forces that affect its marketing activities. This process is called __________________________________.
