MARK 7520 Practice Exam 1
As the marketing manager of a tire company, you are interested in assessing whether it is possible to decrease the amount of time between customers' tire replacement services and whether it is possible to increase average transaction amounts through add-on sales. To assess customer satisfaction with current services, you decide to consult your CRM system to ___________ customer orders.
identify the frequency and size of
Gen Y consumers are much more receptive than their parents and grandparents to electronic commerce as a primary means of receiving marketing communication and purchasing. The marketing change driver represented by this is a shift
in generational values and preferences.
When a company is focused on uncovering needs that customers do not realize they have, it is using a _________ strategy.
market-driving
Peter Drucker, the father of modern management, stated that the only business function(s) of an organization include
marketing and innovation
Jorey completed his mission statement for his marketing plan and has written down company goals; now he is focusing on his business's __________, or how he will be able to attain these goals in specific, measurable ways.
objectives
When Nike moved manufacturing to China, it took into account China's labor laws when fulfilling hiring needs. Which type of information was being addressed?
political and legal
The National Do Not Call Registry is an example of how the _________ environment affects marketing.
political/legal
Which element in the marketing plan is such a common mistake that it is nearly synonymous with poor marketing planning?
poor implementation of action plans
Data collected specifically for the research question under consideration is called _______ data.
primary
At Neveen's Natural Potato Chip Corp., the company always takes into account the quality of the ingredients going into the snack foods it produces and recently rejected a supplier who claimed to use all-natural ingredients but actually did not. What part of the marketing mix did this claim affect?
product
A luxury car dealership assigns a service representative to each customer. This service rep handles all routine and emergency service appointments, writes thank-you letters, and advises the car owner when the next service date is anticipated. This dealership has adopted a __________ orientation.
relationship
A beer manufacturer noticed that the cost of hops increased four times in the last year. A description of this would be found in the _________ section of the SWOT analysis.
threats
Using Miles and Snow's strategic types, which type would be exhibited by a firm that focuses on protecting its market with a limited product line?
defender
To remain competitive, firms collect intelligence on a number of external factors. Information related to population change is referred to as ___________ information.
demographic
A food company has always limited its products to U.S. customers but recently decided to introduce one of its products in Belgium. The company does not plan to change anything about the product before introducing it. This is an example of a
direct product extension.
The most significant global economic trend in the past 15 years has been the
emergence of regional market zones.
Every time Andrea pays bills for her cell phone or car insurance, services that are important for her, she is practicing the central tenet of marketing called
exchange
Jorie was looking for historical information on urban populations, so he used an online, or _________, database.
cloud
Bob runs a U.S.-based company. Recently, some of his customers with global operations have placed additional orders that require Bob to work with their foreign subsidiaries. As a result, Bob has developed local distribution and service reps in three foreign markets. What stage of the global experience learning curve is Bob experiencing?
companies with foreign marketing
The choice of generic strategy is usually driven by resource capabilities of the firm, as well as the
competitive landscape.
