Marketing Exam 1 Ch. 1-4

CalAtlantic Group needs information about trends in housing starts and remodeling around the country. Since it will be difficult to collect ________ from the numerous locations, it decides to use ___________ data from the U.S. Department of Commerce reports to get this information.

PRIMARY; SECONDARY

The two basic types of sampling that marketing researchers use are ____________ and ___________.

PROBABILITY; NONPROBABILITY

Deciding to add gel insoles to its running shoes would be a change in the _____ element of the marketing mix for Nike.

PRODUCT

In the Chapter 3 lecture, White Claw was shown as the ______________ for Michelob Ultra?

PRODUCT COMPETITOR

A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. _____________________ are the essential variables that the marketing manager combines.

PRODUCT, PRICE, DISTRIBUTION (PLACE), AND PROMOTION

When SmartSheet, a producer of software, delayed the introduction of its new spreadsheet app to modify the package, its scheduled TV advertisements announcing the new product needed to be revised. In this case, a change in the _________ variable caused changes in the __________ variable of the marketing mix.

PRODUCT; PROMOTION

When Home Depot develops new carpet fibers that are highly stain-resistant and durable, it must educate consumers about the product's benefits. This calls for activity in which of the following marketing mix variables?

PROMOTION

Assuming that inflation is low, high buying power characterizes the ____________ stage of the business cycle.

PROSPERITY

In today's marketing environment, competitors can take on many forms. For example, a Starbucks latte can be seen as a competitor to an issue of The New York Times. In this circumstance, these two products are described as ___________ competitors.

TOTAL BUDGET

Tom's of Maine's natural toothpaste is highly popular but is unlikely to experience much more market growth. As a result, Tom's of Maine is examining other forms of toothpaste with high potential for growth. However, because its natural toothpaste remains so profitable, it can use these profits to invest in newer toothpastes. Tom's of Maine's natural toothpaste is an example of a __________.

CASH COW

Big Valley General Hospital has designed an upcoming research project for determining the best methods for improving patient care. The next step the organization must take in the marketing research process is ____________.

COLLECTING DATA

When using ______ to make purchases, consumers are increasing current buying power at the expense of future buying power.

CREDIT

In addition to the proliferation of new organic brands, many conventional marketers have introduced organic versions of their products, including Gatorade, Kraft Heinz, and even Kroger. These firms are responding to changes in ______________.

CULTURAL VALUES

The focal points of all marketing activities are __________.

CUSTOMERS

Never Again MSD is a group that works to change attitudes and laws about gun control. Never Again MSD primarily markets _______.

AN IDEA

According to the consumer bill of rights, the idea that consumers' interests should receive full and sympathetic consideration in the formulation of government policy is known as the right to _____________.

BE HEARD

High-volume data collected from social networks, RFID, retailer scanning, purchases, logistics, and production that marketers can use to discover unique insights and make more knowledgeable marketing decisions is best characterized as ______________.

BIG DATA

The definition of marketing implies that __________ should receive benefits from exchange relationships.

BOTH CUSTOMERS AND BUSINESSES

Dasani, SmartWater, Aquafina, Glaceau, PureLife, and Fiji are examples of _______ competitors in the beverage industry.

BRAND

Zappos collects information about a wide variety of competitive, economic, political, legal and regulatory, technological, and sociocultural forces that affect its marketing activities. This process is called __________________.

ENVIRONMENTAL SCANNING

The first step in the strategic performance evaluation is to _____________.

ESTABLISH PERFORMANCE STANDARDS

A(n) ________________ is the ability of an innovative company to achieve long-term competitive advantages by being the first to offer a certain product in the marketplace.

FIRST-MOVER ADVANTAGE

The Nike soccer shin guard video we watched during the Chapter 4 lecture is an example of a(n) _________________.

FOCUS GROUP

Chrisjen Nagata and seven other people were paid to get together and discuss a new product idea proposed by Procter & Gamble. Researchers observed the interaction of the group. During the discussion, Chrisjen was annoyed that Sadavir, another participant, seemed to "hog" the discussion and didn't give others a chance to speak. This is an example of a problem when using __________________.

FOCUS-GROUP INTERVIEWS

An informed guess or assumption about a certain problem or set of circumstances is known as ________________________.

HYPOTHESIS

The final step in the marketing research process is __________________________________.

IMPLEMENT AND EVALUATE THE RESULTS

A person's buying power is a function of ________, _________ and __________.

INCOME, WEALTH, CREDIT

DoneFast Inc. is a very profitable automobile repair shop. The company is well known for its speedy service and involvement in the community, but it fails to properly dispose of its used oil as outlined in environmental regulations. DoneFast is failing in its ________ responsibilities.

LEGAL

Data that are observed or collected directly from respondents are called _________________.

PRIMARY DATA

A group that has the willingness, ability, and authority to buy a product is a ________.

MARKET

Coca-Cola executives realized that more consumers are concerned with health. It has since expanded into the bottled water and sports drink markets. This is an example of a firm identifying and capitalizing on a _____________.

MARKET OPPORTUNITY

The percentage of a market which actually buys a specific product from a specific company is referred to as that product's ____________.

MARKET SHARE

According to the ____________ an organization should try to provide products that satisfy customers' needs and allow the organization to achieve its goals.

MARKETING CONCEPT

A(n) ______________ includes a detailed assessment of the competitive, economic, political, legal, regulatory, technological, and sociocultural factors that could affect marketing activities.

MARKETING IMPLEMENTATION

A framework for gathering and managing information from sources both inside and outside an organization is referred to as _____________________________.

MARKETING INFORMATION SYSTEM

Kroger Food Stores is involved in identifying and analyzing a target market. The firm then develops a marketing mix to satisfy individuals in that market to gain long-term competitive advantages. Based on this example, Kroger is creating a _________________.

MARKETING STRATEGY

STM is located in a small city that has limited economic growth at this time. Due to the condition of the local school system, STM contributed $1 million to repair and revive it, stating that STM believed in education for the community. This action would imply that STM is in the _____________ level of the pyramid of social responsibility?

PHILANTHROPIC

The forces of the marketing environment include ____________________.

POLITICAL, LEGAL AND REGULATORY, SOCIOCULTURAL, TECHNOLOGICAL, ECONOMIC AND COMPETITIVE

Gabrielle Jackson is running for Congress from the Fifth District in her state. She is interested in knowing the intended choices of the voters. All the registered voters in her district would constitute the study's _____________.

POPULATION

Big data allows marketers to look at patterns of consumption behavior in order to ___________________________________.

PREDICT CONSUMERS FUTURE BUYING BEHAVIORS

The ___________ sampling design gives every member of the population an equal chance of appearing in the sample.

RANDOM

In marketing research, a ________ is best described as a limited number of units chosen to represent the characteristics of a total population.

SAMPLE

The three basic forms that a product can take are _____________.

SERVICES, IDEAS AND GOODS

Within a business organization, a profit center that is self-supporting in terms of sales, markets, production, and other resources is known as a _________________.

STRATEGIC BUSINESS UNIT (SBU)

Managers at the Tycho Manufacturing are engaged in a complex process of revising their organization's mission and goals and developing corporate strategy, marketing objectives, marketing strategy, and eventually a marketing plan. This process is called _______________.

STRATEGIC PLANNING

Sony's strong name recognition and solid customer demand for its televisions and game systems are two elements of the firm's __________.

STRENGTHS

The Escapade Academy is developing its marketing mix for the coming year. Its managers know that they must first select a ______________ which may be the most important decision they make in the planning process.

TARGET MARKET

The accumulation of past income, natural resources, and financial resources is known as ________.

WEALTH