MKT 101 MIDTERM MULTIPLE CHOICE
_____ mission statements provide little real guidance or inspiration.
Generic
We must learn a valuable lesson in marketing. Many sellers make the mistake of paying more attention to the specific products they offer than to the _____ produced by those products.
benefits and experiences
Name the market that buys goods and services for further processing or for use in the production process.
business
Marketing planning at your firm occurs at what levels?
business unit; product; market
Percy Originals caters to a market of individuals and households that buys goods and services for personal consumption. What do we call this market?
consumer
We can safely say that when a customer's purchase lives up to his or her expectations, the customer is experiencing this state of being.
customer satisfaction
Greg Williams now has the buying power to purchase the computer system he has wanted for the last six months. Greg's want now has become a
demand
Successful organizations base their missions on their _____.
distinctive competencies
Marketing consists of actions taken to build and maintain desirable _____ with target audiences involving a product, service, idea, or other object.
exchange relationships
The marketing information system is not limited to use by the company it serves. It may also provide information to _____.
external partners
You have learned from experience as well as from this course that the most basic concept underlying marketing is that of _____.
human needs
Diana Dion is currently researching data sources from within her company to make marketing decisions. Diana is making use of _____ databases.
internal
Marketing information from this type of database usually can be accessed more quickly and cheaply than other information sources. Which one is it?
internal
All of the groups within a company are called the _____.
internal environment
The company you work for is on the "right track" because its mission statement fits the _____ environment.
market
Your firm is attempting to divide up the total market to determine the best segments it can serve. Which is the correct order of doing so?
market segmentation, target marketing, market positioning
Your marketing department is attempting to improve strategic decision making, assess and track competitors' actions, and provide early warning of opportunities and threats. Your department would do well to use _____.
marketing intelligence
You are excited about studying marketing. You tell your younger brother that product, price, place, and promotion make up the _____.
marketing mix
You are preparing a combination of products, services, information, and experiences to a market to satisfy needs and wants.
marketing offer
A strategic plan has this item or items following its marketing objectives.
marketing strategies
At the corporate level, a company starts the strategic planning process by defining its overall purpose and _____.
mission
A clear mission statement acts as an invisible hand that guides people in the firm. It is a statement of _____.
purpose
Your text pointed out that mission statements should be both _____ and specific.
realistic
What does a market-oriented mission statement define about the business?
satisfying basic customer needs
Today, marketing must be understood in terms of making a sale and _____.
satisfying customer needs
Marketing is more than _____ and advertising.
selling
Marketing is not only an exchange and managerial process, it is a _____.
social process
Which of the following do suppliers not provide marketers within your firm?
the funding for your paychecks
You are directed to study the factors that are larger societal forces that affect your company - demographic, economic, natural, technological, political, and cultural. What are you studying?
the macroenvironment
Four common sources of internal data include the accounting department, operations, the sales force, and _____.
the marketing department
Jamie Bestowitcz is researching the factors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers. What is Jamie researching?
the marketing environment
You are directed to study the factors that are close to the company that affect its ability to serve its customers - the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. What are you studying?
the microenvironment
What do companies call a set of benefits that they promise to consumers to satisfy their needs?
value proposition
A company's value chain is successful when each department adds _____ for customers and _____ other departments.
value; coordinates with
As a new assistant marketing manager trainee, you learn in an orientation meeting that _____ are the form human needs take as they are shaped by culture and individual personality.
wants