Intro to Marketing

The four Ps are commonly known as:

the marketing mix or controllable factors.

The entertainment industry in the United States is dominated by Viacom, Disney, and Time Warner. These Companies operate in what type of market?

Oligopoly

The primary sources of external information are (1)_____________; (2) public sources; and (3) marketer-dominated sources.

Personal sources

An organization that focuses its efforts on (1) continuiosly collecting information about customers' needs and competitors' capabilities, (2) sharing this information across departments, and (3) using the information to create customer value is said to:

have a market orientation.

The study of consumer ___________ helps marketers understand why people choose one brand over another and how they make these choices.

Behavior

Firm A continues to manufacture cassettes. It is a small market that has little growth, but firm A's audio cassettes have the largest market share. They are an example of a _______________?

Cash Cow

"Help people around the world save money and live better - anytime and anywhere" is a statement of Walmart's:

Customer Value Proposition

Describing a population according to selected characteristics such as age, gender, ethnicity, income, and occupation is referred to as:

Demographics

What is the process of continually acquiring information on events occurring outside the organization, to identify and interpret potential trends called?

Environmental Scanning

In recent ratings (the above figure) from independent rating agencies for selected smartphone brands and models, a number of factors are listed, such as price, display, audio quality, text messaging, web capability, and camera quality.

Evaluation Criteria

The market leader for a ____________________ product must make special efforts to avoid stock-out situations so that buyers don't substitute a competing brand.

Low-involvement

When an organization is carefully monitoring the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm it most likely has a __________________ goal.

Market Share

What is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions?

Marketing Research.

When applying the diversification analysis technique, market development refers to the marketing strategy of:

Selling current products to new markets

In BCG's business portfolio analysis, ______________ may need extra cash to finance their own rapid future growth.

Stars

Which of the two SWOT elements are considered mostly external and which are considered mostly internal?

Strengths and Weaknesses are internal / Opportunities and Threats are external

3D printing and on-demand capabilities are increasing domestic manufacturing. This is an example of a _________ force that can affect any firm:

Technological

The luxury leisure firm Cunard is more likely to benefit when:

consumers' discretionary income increases

The American Marketing Association definition shows that marketing is far more than simply advertising or personal selling. It stresses the need to:

deliver genuine value in the offerings of goods, services, and ideas marketed to customers.

As a situational influence, antecedent states include:

the amount of cash on hand