Marketing
Business demand that ultimately comes from the demand for consumer goods is known as ________ demand.
Derived
________ is the act of obtaining a desired object from someone by offering something in return.
Exchange
In ________ research, the objective is to gather preliminary information that will help define the problem and suggest hypotheses.
Exploratory
In a SWOT analysis, which of the following would be considered a strength?
Internal capabilities
Which of the following is an advantage of using an internal database?
Internal databases can be accessed more quickly and cheaply than other information sources.
Which of the following statements is true of the production concept?
It leads to companies focusing too narrowly on their own operations.
A(n) ________ is the set of actual and potential buyers of a product or service.
Market
Which of the following is NOT an accurate description of modern marketing?
Marketing emphasizes selling and advertising exclusively.
________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
Marketing research
________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others.
Opinion leaders
________ help companies stock and move goods from their points of origin to their destinations.
Physical distribution firms
________ is the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities.
Strategic planning
Which of the following is true of Gen Xers?
They were the first to grow up in the Internet era.
________ are human needs that are shaped by culture and individual personality.
Wants
Hank is an assistant marketing director for a firm in a market with many low-margin customers. What type of relationship with these customers would be the most profitable for him?
basic relationships
Business buyer behavior refers to the ________.
buying behavior of the organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others
The ________ refers to all the individuals and units that play a role in the purchase decision-making process.
buying center
Sanguine Services is a small company that uses a marketing strategy in which its limited resources are employed to target a large share of two small market segments. Sanguine most likely uses which of the following marketing strategies?
concentrated marketing
The buyer decision process consists of five stages. Which of the following is NOT one of these stages?
conspicuous consumption
________ is the most basic determinant of a person's wants and behavior.
culture
"Losing a customer once means losing the entire stream of possible purchases that the customer would make over an extended period of patronage." The above statement specifically indicates loss in terms of ________.
customer lifetime value
Which of the following marketing strategies should marketing managers focus on to manage detailed information about individual customers and carefully manage customer touchpoints to maximize customer loyalty?
customer relationship management
An MIS user should most likely be able to ________.
develop customer insights
Which of the following is NOT a step in the strategic planning process?
evaluating members of the company's value chain
What is the most important consumer buying organization in society?
family
"Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods." This is an example of ________.
geographic segmentation
Maslow's theory is that ________ can be arranged in a hierarchy.
human needs
Even when competing offers look the same, buyers may perceive a difference based on ________ differentiation.
image
Secondary data consist of ________.
information that already exists somewhere, having been collected for another purpose
________ is a person's pattern of living as expressed in his/her psychographics, and it includes the individual's activities, interests, and opinions.
lifestyle
Sam has been directed to study the demographic, economic, political, and cultural forces that affect an organization. In this instance, Sam has been directed to study the ________ of the organization.
macroenvironment
FencePro, a local company, has developed an entirely new mounting system for chain link fences. After acquiring a distributor, FencePro now has the ability to market its products nationwide. FencePro is most likely following a ________ strategy.
market development
When marketers at Fair & Leigh Inc. selected the Millennials, a demographic group that includes college students, as an untapped group of potential customers for their new line of products, they were engaging in ________.
market targeting
In a ________ situation, the "in" suppliers may become nervous and feel pressured to put their best foot forward to protect an account and the "out" suppliers may see the present situation as an opportunity to make a better offer and gain new business.
modified rebuy
Which of the following contact methods is the most cost-effective?
online surveys
Which of the following is a marketing stimuli?
price stimuli
A ________ refers to the way a product is defined by consumers on important attributesthe place the product occupies in consumers' minds relative to competing products.
product position
Marketers who use ________ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals.
psychographic segmentation
The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. According to the BCG matrix, the pharmaceuticals division of Omni can be classified as a ________.
question mark
According to the Boston Consulting Group approach, ________ serves as a measure of company strength in the market.
relative market share
