MAIN FIRST MARKETING MIDTERM ##

In the buying​ center, which role is responsible for controlling the flow of information and might include secretaries and technical​ staff? (CH6)

. Gatekeepers

The most basic cause of a​ person's wants and behavior is his​ ________, which is learned from childhood (CH5)

. culture

The​ firm's MIS is useful to the marketing​ managers, but it does involve one distinct disadvantage. The company must deal with what factor before​ obtaining, analyzing,​ storing, and delivering​ information? (CH4)

Cost

International researchers follow the same steps as domestic​ researchers, from defining the research problem and developing a research plan to interpreting and reporting the results.​ However, these researchers often face more and different problems particularly when collecting primary data. Which of the following creates a problem for collecting secondary data​ internationally? (CH4)

Countries that have almost no research services from which to collect data

A marketer defines her research objective to define and identify things within the market such as how many times a week does the customer go to the grocery store and how many bananas does the consumer purchase at a​ time? This is classified as which type of market​ research? (CH4)

Descriptive

​Essentially, the marketing research process encompasses four steps.​ __________ is not a step in the research process. (CH4)

Developing the MIS

During supplier​ selection, members of the buying center review the proposals and select a supplier or suppliers.​ Additionally, which of the following is a task that takes place during supplier​ selection? (CH6)

Draw up a list of the desired supplier attributes and their relative importance

There are several sources of information for business marketers looking to sell to the U.S. government. Which of the following is the source that provides a complete education on the way government agencies​ buy, the steps that suppliers should​ follow, and the procurement opportunities​ available? (CH6)

General Services Administration​ (GSA)

Which of the following firms could be identified as taking a proactive stance toward the marketing​ environment? (CH3)

Google designing Google Glass

Hispanics represent a​ large, fast-growing market. The​ nation's more than 55 million Hispanic consumers will account for​ 11% of the​ nation's total buying power by​ 2015, but they do vary in buying behavior from the mainstream American public. Which of the following statements is true about the Hispanic​ consumer? (CH5)

Hispanics are more active on mobile and social networks than other​ segments, making digital mediums ideal for reaching this segment

The​ ________ consists of the actors close to the company who affect its capability to engage and serve its​ customers, including the​ company, suppliers, marketing​ intermediaries, customer​ markets, competitors, and publics (CH3)

Microenvironment

The​ ________ consists of the larger societal forces that affect the microenvironmentlong dash—​demographic, ​economic, natural,​ technological, political, and cultural forces (CH3)

Microenvironment

Generation​ Y, or echo​ boomers, are also known as​ ________. They are the portion of the population that was born between 1977 and 2000 (CH3)

Millenials

A ____________________ is a statement of the organization's purpose —what it wants to accomplish in the larger environment (CH2)

Mission Statement

_____________ marketing is perhaps the fastest-growing digital marketing platform. It is ideal for engaging customers anytime and anywhere as they move through the buying process. (CH1)

Mobile

Costco wants the processor of the brand of yogurt it has been selling for eight years to increase the number of units per pack from 9 to 12 and to reduce its profit margin from​ 14% to​ 12%. The buying situation would be described as which​ type? (CH6)

Modified rebuy

When a consumer experiences a state of deprivation such as being hungry, cold, or tired, he is feeling a(n) ________ that has to be satisfied (CH1)

Need

________ are defined as states of felt deprivation.

Needs

As the organization determines which customers to serve, it must first divide the market into reachable portions, or ____________ of the market, and then select which portion of the market to target (CH1)

Segments

An example of a value proposition is best illustrated as which of the following? (CH1)

Seven Up, The Uncola

While it is one of the newest marketing tools firms have to communicate with customers, _______________ is(are) now used by more than 90% of American organizations. (CH1)

Social Media

What are the major types of buying situations in the business​ market? (CH6)

Straight​ rebuy, modified​ rebuy, and new task

Over the past two​ decades, the U.S. population has shifted toward the​ ________ states (CH3)

Sunbelt

Collections of consumer and market information obtained from data sources within the​ company's network, or internal​ databases, are derived from several functional areas within the firm.​ __________ are not sources of internal data (CH4)

Syndicated databases

Soda Stream is an innovation in soft drinks that enables consumers to create their own sodas at home with purchased​ syrup, tap​ water, and a carbonation device. To increase the adoption​ rate, the firm is advised to present the relative advantage. How would the relative advantage of Soda Stream be​ described? (CH5)

The Soda Stream ads suggest there are fewer bottles to carry and a reduced effort of having to recycle bottles

dramatic shift in _______________, beginning in 2008, has caused marketing managers to realign marketing plans and focus more on value. (CH1)

The economy

Why would any firm choose to do business with the U.S. government especially given the complications involved in selling to​ it? (CH6)

The government purchases a lot of goods and services and pays its bills.

There are two steps to business portfolio planning.​ First, the company analyzes its current business portfolio and determines which businesses should receive​ more, less, or no investment. Which of the following is the second​ step? (CH2)

The organization must shape the future portfolio by developing strategies for growth and downsizing.

Marketing managers have to analyze what goes on in the​ consumers' "black​ box." The black box has two parts. The first is that the​ buyer's characteristics influence how he or she perceives and reacts to the stimuli. What is the second​ element? (CH5)

The​ buyer's decision process itself and how it affects his or her behavior

Advantages of consumer-generated marketing are the credibility and honesty of it and the appeals. Drawbacks for the marketing manager of consumer-generated marketing include ____________. (CH1)

Time consuming aspects, costliness, and the fact that it might not produce measurable results

After determining the market-oriented mission, what is the next step in the process of strategic planning? (CH2)

Turning the mission into detailed supporting objectives that guide the entire company

A child in which of the following cultures normally learns or is exposed to the following​ values: achievement and​ success, freedom,​ individualism, hard​ work, activity and​ involvement, efficiency and​ practicality, material​ comfort, youthfulness, and fitness and​ health? (CH5)

United States

Before the buying firm begins the supplier​ search, the firm determines the specifications with help of what technique to analyze cost reduction and to determine whether the required product can be​ redesigned, standardized, or made by less costly methods of​ production? (CH6)

Value analysis

Although a marketing information system primarily serves the​ company's marketing and other​ managers, it might also provide information to external​ partners, such as​ suppliers, resellers, or marketing services agencies. An example of how the MIS can provide customer information to partners beyond the firm is​ ________ (CH4)

Walmart's Retail Link system

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

Wants

In the process of developing marketing strategy, one of the two critical questions the manager must ask is, "What customers will we serve (what's our target market)?" Which of the following is the other question? (CH1)

What is the value proposition?

Marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on ________.

consumers' existing wants

The marketing manager confronts two types of beliefs as she analyzes the cultural​ environment, ________ beliefs and secondary beliefs (CH3)

core

Marketers are always trying to spot​ ________ so as to discover new products that might be wanted by buyers. One of these is the growing concern among consumers about their health and​ fitness, which has created a great opportunity for flavored vitamin waters (CH5)

cultural shifts

Innovative marketing firms are restructuring their marketing information and research functions and are creating​ ________, which are typically headed by a senior marketing executive with representatives from as many as two dozen of the​ firm's functional areas (CH4)

customer insight teams

The fourth stage in the marketing process is to build and sustain enduring customer relationships. The key elements of this process involve_____ and _______. (CH1)

customer value; customer satisfaction

Market offerings to which the marketing process applies include (CH1)

goods, services, ideas, information, people, places, and organizations

When the marketing department works to improve customer​ satisfaction, it can cause other departments to decrease their job performance. When marketing tries to improve customer​ satisfaction, it may result in​ __________. (CH2)

increased purchasing​ costs, disrupted production​ schedules, and increased inventories

In a business marketing​ scenario, demand is typically​ ________ and fluctuates more than in the consumer marketplace. (CH6)

inelastic

Firms face ethical issues in using marketing research data in many forms but primarily in two​ areas: the misuse of research findings and​ ________ (CH4)

intrusions on consumer privacy

The Boston Consulting Group​ growth-share matrix classifies SBUs the firm has in two​ dimensions; the first dimension is​ _______________, which measures market attractiveness for the entire industry on the vertical axis. (CH2)

market growth rate

Dividing a market into several sections of customers is known as ________.

market segmentation

Each culture contains smaller groups of people with shared value systems based on common life experiences and situations. These smaller​ groups, identified as​ ________, include​ nationalities, religions, racial​ groups, and geographic regions. They often make up important market segments (CH5)

subcultures

As part of the​ microenvironment, ________ form an important link in the​ company's overall customer value delivery network. They provide the resources needed by the company to produce its goods and services. (CH3)

suppliers

More companies today are partnering with other members of the supply chain. These partnerships include​ __________ and they improve the performance of the customer value delivery network. (CH2)

suppliers, distributors, and customers

GT Grand, a manufacturer of ultra-luxury cars, supplies customized vehicles based on the specific demands of customers in affluent market segments. The company's approach is most likely referred to as ________.

target marketing

Selecting particular segments of a population of customers to serve is called ________.

target marketing

The​ ________ environment offers marketers many opportunities in one of the most dramatic wayslong dash—it affects such wonders as​ antibiotics, robotic​ surgery, miniaturized​ electronics, smartphones, and the Internet (CH3)

technological

Companies have tremendous amounts of information available on​ competitors, resellers, and other players in the​ marketplace, but they must also use that data to gain insight into​ ________ as Pinterest did successfully in creating a scrapbooking site for shared pictures (CH4)

the customer

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

understanding the marketplace and customer needs and wants

The first step in the marketing process is ___________. (CH1)

understanding the marketplace and customers' needs, wants, and demands

Which subcultural American market segment is more price conscious than other​ segments? (CH5)

African Americans

This ethnic segment of the American market comprises roughly​ 5% of the total population.​ _____________ are consistently more confident about their financial situations than other segments and are more likely to live within their means. They tend to avoid credit card debt and save more for future eventualities (CH3)

Asian Americans

Which subcultural market segment is the most affluent demographic​ segment? (CH5)

Asians Americans

Customer engagement marketing in the age of social media marketing differs from more traditional marketing, which relied on intrusion to build market share. Customer engagement marketing depends on __________ instead (CH1)

Attraction

Marketing​ managers, overloaded with data and often overwhelmed by​ it, face the issue of​ ________, which​ refer(s) to the huge and complex data sets generated by​ today's sophisticated information technologies (CH4)

Big Data

​________ refers to the buying behavior of organizations that buy goods and services for use in the production of other products and services that are​ sold, rented, or supplied to others (CH6)

Business buyer behavior

A data warehouse is a database of finely detailed customer and market information that needs to be sifted through for significant pieces of information and trends. The data warehouse operates at which​ level? (CH4)

Company-wide

​MasterCard's Conversation​ Suite, which​ monitors, analyzes, and responds in a timely way to millions of online conversations around the​ world, is an example of which type of market research​ tool? (CH4)

Competitive marketing intelligence

Marketers should increasingly be aware of regulations designed to protect consumers when applying new technologies and developing new products. Many government agencies investigate and ban potentially unsafe​ products, but the two with the most direct impact on marketing managers are the Food and Drug Administration​ (FDA) and the​ ________ (CH3)

Consumer Product Safety Commission​ (CPSC)

Which adopter group is made up of opinion leaders in their communities and who adopt new ideas​ carefully? (CH5)

Early adopters

________ is the act of obtaining a desired object from someone by offering something in return.

Exchange

With budgetary constraints facing small​ businesses, small firms can still take advantage of many marketing research options from governmental and trade agencies to diversify research approaches.​ _________ is(are) not feasible for the small businesses that want to conduct market research (CH4)

Experimental research

Many firms use company intranet and internal CRM systems to facilitate the process of granting access to research and intelligence​ information, customer contact​ information, and reports within the firm. Some or all of this data might also be shared with​ suppliers, customers,​ resellers, and select other network members via what delivery​ mechanism? (CH4)

Extranets

Managing the marketing process requires four marketing management​ functions: analysis,​ planning, ______________, and control (CH2)

Implementation

Consumer buyer behavior refers to the buying behavior of final​ consumers, which is defined to include​ whom? (CH5)

Individuals and households buying goods and services for personal consumption

Organizational buying behavior also applies to certain groups of buyers beyond the traditional business. To which other​ entities, with special​ characteristics, does organizational buying​ apply? (CH6)

Institutional and government markets

A consumer is curious as to whether or not he would like a tablet instead of a laptop. He knows there are differences but does not really understand brand differences nor does he know the specific features of different tablets. He begins doing some online research. He is described as being in which stage of the new product adoption​ process? (CH5)

Interest

Managers seeking competitive intelligence can use any of the scores of online​ databases, some of which are free and some for which the user pays. All of the following are sources of competitor​ information, but one is not an online database. Which one is not an online​ database? (CH4)

Internal Employee Group

Demands differ from wants in which way? (CH1)

It is the actual buying power a consumer has that enables him to fulfill his needs

Economic _________ is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers (CH1)

Marketing

Once a marketing plan is​ written, the manager has to convert the plan into actions that actually accomplish the strategic marketing objectives. The process of​ ______________________ addresses the​ who, where,​ when, and how of the marketing plan (CH2)

Marketing Implementation

In the second stage of the buyer decision​ process, the consumer gathers information. The sources from which the buyer can collect this information include which of the​ following? (CH5)

Personal, commercial,​ public, and experiential sources

Marketing managers have in their control four variables known as the four Ps. These four variables do not include the​ __________ (CH2)

Portfolio

The buying decision process follows several steps. How is the final step in the process​ identified? (CH5)

Post-purchase behavior

One type of nonbusiness organizational market is the institutional market. It includes which of the following typical​ buyers? (CH6)

Prisons and hospitals

The first step in a fairly​ lengthy, complex process of making a purchase in a business marketing situations is​ what? (CH6)

Problem recognition

Historically, the concept by which marketing managers operated, which was based on being able to make the product efficiently and cost effectively, was the _________ Concept (CH1)

Production

Designing a business portfolio involves finding businesses and products the company should consider in the future. Companies need growth if they are to compete more​ effectively, satisfy their​ stakeholders, and attract top talent. At the same​ time, a firm must be careful not to make growth itself an objective. The​ company's objective must be to manage​ __________. (CH2)

Profitable Growth

Consumer purchases are strongly influenced by many factors the marketer cannot control.​ __________ is a factor that the marketer can control (CH5)

Promotion

Some companies hire lobbyists to influence legislation affecting their industries and stage media events to gain favorable press coverage. These firms will often run​ ________, which are ads expressing editorial points of view (CH3)

advertorials

The​ decision-making unit of a buying organization is called its​ ________. It consists of all the individuals and units that play a role in the business purchase​ decision-making process. (CH6)

buying center

To exercise their social responsibility and build more positive​ images, many companies are now building efforts in the area of​ ________ marketing, linking themselves to​ respectable, socially minded organizations and​ ideas, which firms increasingly use as a form of corporate giving (CH3)

cause-related

The business marketer usually deals with a difference in the market size and type of customer from consumer markets. The business market is characterized with​ ________ buyers and much​ ________ buyers than does the consumer marketer. (CH6)

far​ fewer; larger

Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a(n) ________.

demand

When backed by buying power, wants become ________.

demands

A critical element of microenvironmental scanning is​ ________, which is the study of human populations in terms of​ size, density,​ location, age,​ gender, race,​ occupation, and other statistics. This portion of the environment is of major interest to marketers because it involves people who make up markets (CH3)

demography

The Boston Consulting Group​ growth-share matrix classifies SBUs the firm has in two dimensions. The horizontal dimension consists of the​ _______________, which measures the​ firm's strength in the market. (CH2)

relative market share

The main differences between consumer and business buyer behavior include differences in market structure and​ demand, ________, and the types of decisions and the decision process involved. (CH6)

the nature of the buying unit

If Google wrote its mission​ statement, what would it be advised to​ write? The mission of Google is​ __________. (CH2)

to give people a window into the​ world's information, wherever it might be found

Astute marketers practice partner relationship management and must work closely with partners in other company departments to form an effective internal value chain that serves customers.​ Additionally, they must partner effectively with other companies in the marketing system to form a competitively superior​ _____________________. (CH2)

value delivery network

Marketing managers need to analyze the​ environment, which includes two​ parts; these are known as the​ ________ and the​ ________. (CH3)

​microenvironment; macroenvironment

SWOT analysis is an integral part of the first stage of the market​ process, which is analysis. The parts of the SWOT analysis that apply to external elements​ are___________ and​ __________. (CH2)

​opportunities; threats

Many firms are already using​ ________ technology to track products through various points in the distribution channel. (CH3)

​radio-frequency identification​ (RFID) transmitter

Companies know that they cannot profitably serve all consumers in a given​ market, at least not all consumers in a uniform way. Most firms are in a situation to serve some portions of the market better than​ others, and they undertake four steps in order to make that effective. These steps are as follows​ (placed in sequential​ order): ____________________. (CH2)

​segmentation, market​ targeting, differentiation, and positioning