Marketing Ch. 1-7
(Blank) analysis is an overall evaluation of the company's strengths, weaknesses, opportunities, and threats
SWOT Analysis
Information collected from Internet search engines is an example of
Secondary Data
Which of the following generations is the most educated to date
Generation X
Customer Relationship Management (CRM) helps
Firms manage customer touch points to maximize customer loyalty
Price & Malone Corp., a company based in Houston, caters to a market of individuals and households that buy goods and services for personal consumption. Price & Malone caters to a ________ market.
Consumer
Among the generational groups in U.S population, the ________ are still the wealthiest generation in U.S. history.
Baby Boomers
An increasing number of American workers currently work from their homes or remote offices and conduct their business by phone or internet. This trend has created:
Booming small office, home office (SOHO) market
1) Which of the following is NOT an accurate description of modern marketing? A) Marketing is the creation of value for customers B) marketing involves managing profitable customer relationships C) Marketing emphasizes selling and advertising exclusively D) Marketing involves satisfying customer needs and wants E) Marketing is building value-laden exchange relationships with customers
C) Marketing emphasizes selling and advertising exclusively
The buyer decision making process consists of five stages. Which of the following is not one of them?
Conspicuous Consumption
The single most important demographic trend in the United States is the
Changing age structure of the population
The marketing department of a reputable firm wants to improve strategic decision making, track the actions of other players in the market, and provide early warning of opportunities and threats. Which of the following would help the firm achieve its objectives? A) Ethnographic Research B) Strategic Planning C) Data Warehousing D) Competitive Marketing Intelligence E) Customer Relationship Management
Competitive Marketing Intelligence
2) According to the five step model of the marketing process, a company should ............... before designing a customer-driven marketing strategy A) Determine how to deliver superior value to customers B) Build profitable relationships with customers C) Use customer relationship management to create full partnerships with key customers D) Understand the marketplace and customer needs and wants E) Construct an integrated marketing program
D) Understand the marketplace and customer needs and wants
The real value of marketing information lies in how it is used:
In the customer insights that it provides
(Blank) refers to meaningful sets of marketing performance measures in a single display used to monitor strategic marketing performance
Marketing Dashboards
(Blank) is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization
Marketing Research
You have been directed to study the forces close to a company that affect its ability to serve its customers such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. In this instance you have been directed to study the (Blank) of a company
Microenvironment
A (Blank) documents an organization's purpose - what it wants to accomplish in the larger environment
Mission Statement
With the most recent explosion of information technologies
Most marketing managers are overloaded with data and often overwhelmed by it.
The relationship between the consumer's expectations and the product's (blank) determines whether the buyer is satisfied or dissatisfied with with a purchase
Perceived Performance
(Blank) is the process by which people select, organize, and interpret information to form a meaningful picture of the world
Perception
The (Blank) concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features
Product Concept
What are the four P's of the marketing mix?
Product, Price, Place, Promotion
Companies can succeed against their competitors by all of the following except
Providing the same product as the competition
(Blank) measures the profits generated by investments in marketing activities
Return on Marketing Investment
Which of the following marketing orientations holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than their competitors do?
The Marketing Concept
The set of marketing tools that a company a firm uses to implement its marketing strategy is called the (Blank)
The Marketing Mix
Which of the following best describes a strategic business unit?
The key businesses that make up a company
Which of the following demographic trends is the most likely cause for a rapid increase in telecommuting?
The migration toward micropolitan and suburban areas
Companies can research many aspects of buying decisions. However, the one that is the most difficult to identify is:
Why they buy
A value marketer is most likely to ________.
offer consumers a balanced combination of product quality at a fair price
Marketers can group people in a number of ways, including by birth date. However, the following combination of groups has proven to be more effective:
Income, Life Style, and Life Stage
Primary Data consists of:
Information collected for the specific purpose at hand.
4) Dividing the market into various groups of customers that a company may serve is called:
Market Segmentation
Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs
Market Segmentation
The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as?
Market Targeting
(blank) help companies stock and move goods from their points of origin to their destinations
Physical Distribution Firms
Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as:
Positioning
(blank) is the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities
Strategic Planning
Some consumers worry that they will be affected by marketing messages without even knowing it. They are concerned about
Subliminal Advertising
(Blank) refers to socially and environmentally responsible marketing that meets the needs of consumer and businesses while also preserving or enhancing the ability of future generations to meet their needs
Sustainable marketing
3) Selecting which segments of a population to serve is called:
Target Marketing
With an expected increase in ethnic diversity within the American population, marketers are most likely to place a greater emphasis on ________.
Targeted Advertising Messages
The network made up of the company, its suppliers, its distributors, and, ultimately, its customers who partner with each other to improve the performance of the entire system
Value Delivery Network
5) Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?
Value Proposition
Which of the following refers to the total combined customer lifetime value of all of the company's current and potential customers?
Customer Equity
More and more companies are shifting their brand management focus from brand profitability toward
Customer Management
Effective position begins with:
Differentiation
As a consequence of the concern for the natural environment, many companies are developing strategies and practices that support:
Environmental Sustainability
A marketing plan begins with a(N) (Blank), which presents a brief summary of the main goals and recommendations of the plan for management review
Executive Summary
In (blank) research, the objective is to gather preliminary information that will help define the problem and suggest hypothesis
Exploratory Research