MKT final

which of the following types of marketing involves creating opinion leaders to serve as brand ambassadors to spread the word about a companies products?

buzz marketing

store brands are also known as ________ brands

private

in the ________ stage of new product development, products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them

product development

marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on ________

consumers existing wants

a major advantage of a mail survey is that it...

eliminates interviewer bias

which of the following is a social factor that influences consumer buying behavior?

family

which of the following steps of the new product development process would most likely use an R-W-W framework?

idea screening

which of the following is true about competitive marketing intelligence?

it can not be obtained from information that is available in public domain

which of the following criteria provides a measure of market attractiveness in the Boston Consulting Group approach?

market growth rate

the most effective sources of information about a product tend to be ________ sources

personal

SWOT analysis

strengths, weakness, opportunities, threats (internal, external, positive, negative)

when a market segment is large or profitable enough to serve, it is termed ________

substantial

GT Grand a manufacturer of ultra luxury cars supplies customized vehicles based on the specific demands of customers in affluent market segments. the company approach is most likely referred to as ________

target marketing

8 topics of a marketing plan

1. executive summary 2. current marketing situation 3. threats and opportunities analysis 4. objectives and issues 5. marketing strategy 6. action program 7. budgets 8. controls

4 P's

1. place 2. product 3. promotion 4. pricing

minority groups that question a companies marketing decisions most likely belong to ________ publics

citizen-action

the stage in which a product concept is presented to groups of target consumers physically and symbolically is referred to as ________

concept testing

which of the follow criteria does the Boston Marketing Consulting Group approach use to provide a measure of a company strength in the market?

relative market share

the responsibility for setting a companies mission, objectives, broad strategies and policies primarily lies within its ________

top management