Intro to business

_______ is the systematic design, collection, analysis, and reporting of data to a specific marketing situation.

Marketing research

________ are defined as states of felt deprivation.

Needs

________ are distribution channel firms that help a company find customers or make sales to them.

Resellers

Honda purchases over $20 billion worth of auto parts and materials every year. ________ help create success

Suppliers

An organization's mission statement is its intentions toward customers & customer experience the organization creates.

True

________ are the form human needs take as they are shaped by culture and individual personality.

Wants

The initial function of a marketing information system is ________.

assessing the information needs of a company

D Technologies manufactures microprocessors & caters exclusively to private manufacturers that produce computers. It's a

business market

Apple encourages customers to form local Apple user groups. This is an example of a ________.

club marketing program

Which of the following is not considered a source of competitive intelligence?

competitors' internal databases

According to the text, ________ are the most important actors in a company's microenvironment.

customers

Both product development strategies and diversification strategies involve ________.

developing a new product

A strategy for company growth in starting up or acquiring businesses outside the company's current products & markets

diversification

The "Stop the Texts. Stop the Wrecks." campaign is an example of a marketing offering for a(n)

idea

Imaginative Web sites, smartphone apps, & social media allow marketers to use direct & personal messages so consumers

live the brand

Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization.

macroenvironment

Susan Hart, manager of a children's boutique, collects data from monthly records of sales, costs, and cash flow. It's __

making use of internal databases

A firm's decision to identify and develop new markets for existing products is a ________ strategy.

market development

A strategy for company growth that involves increasing sales to current market segments without changing the product is

market penetration

Under Armour increasing its advertising spending & offering new styles and colors in its original apparel line is

market penetration

Consumers' needs and wants are fulfilled through ________.

marketing offerings

A ________ is purposeful, specifying what an organization wants to accomplish in the larger environment.

mission statement

JJ Distributors Ltd. buys electronic products from manufacturers for wholesale and sells them to retail outlets. It's

reseller markets

Both market penetration strategies and market development strategies primarily involve ________.

selling a company's current products

Which of the following is an example of a media public?

television station

Which of the following best describes a company's business portfolio?

the collection of businesses andproducts that make up the company

Which of the following are examples of internal publics of a company?

the managers, board of directors, and workers of the company

Which of the following demonstrates the real value of a company's marketing research and information system?

the quality of customer insights it provides

Which of the following is part of the microenvironment of a firm's marketing environment?

the suppliers who work with the company

The responsibility for setting a company's mission, objectives, broad strategies, and policies lies with its ________.

top management

According to the five-step model of the marketing process, the first step in marketing is ________.

understanding the marketplace and customer needs and wants

_______ is the final step in the marketing research process.

Interpreting and reporting the findings

________ is often the most difficult but most critical step in the research process.

Collecting and analyzing the data

________ markets consist of individuals and households that buy goods and services for personal use.

Consumer

Secondary data consist of information collected for the specific purpose at hand.

False

The growth rate of a strategic business unit that is classified as a star remains constant over time.

False