Intro to business
_______ is the systematic design, collection, analysis, and reporting of data to a specific marketing situation.
Marketing research
________ are defined as states of felt deprivation.
Needs
________ are distribution channel firms that help a company find customers or make sales to them.
Resellers
Honda purchases over $20 billion worth of auto parts and materials every year. ________ help create success
Suppliers
An organization's mission statement is its intentions toward customers & customer experience the organization creates.
True
________ are the form human needs take as they are shaped by culture and individual personality.
Wants
The initial function of a marketing information system is ________.
assessing the information needs of a company
D Technologies manufactures microprocessors & caters exclusively to private manufacturers that produce computers. It's a
business market
Apple encourages customers to form local Apple user groups. This is an example of a ________.
club marketing program
Which of the following is not considered a source of competitive intelligence?
competitors' internal databases
According to the text, ________ are the most important actors in a company's microenvironment.
customers
Both product development strategies and diversification strategies involve ________.
developing a new product
A strategy for company growth in starting up or acquiring businesses outside the company's current products & markets
diversification
The "Stop the Texts. Stop the Wrecks." campaign is an example of a marketing offering for a(n)
idea
Imaginative Web sites, smartphone apps, & social media allow marketers to use direct & personal messages so consumers
live the brand
Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization.
macroenvironment
Susan Hart, manager of a children's boutique, collects data from monthly records of sales, costs, and cash flow. It's __
making use of internal databases
A firm's decision to identify and develop new markets for existing products is a ________ strategy.
market development
A strategy for company growth that involves increasing sales to current market segments without changing the product is
market penetration
Under Armour increasing its advertising spending & offering new styles and colors in its original apparel line is
market penetration
Consumers' needs and wants are fulfilled through ________.
marketing offerings
A ________ is purposeful, specifying what an organization wants to accomplish in the larger environment.
mission statement
JJ Distributors Ltd. buys electronic products from manufacturers for wholesale and sells them to retail outlets. It's
reseller markets
Both market penetration strategies and market development strategies primarily involve ________.
selling a company's current products
Which of the following is an example of a media public?
television station
Which of the following best describes a company's business portfolio?
the collection of businesses andproducts that make up the company
Which of the following are examples of internal publics of a company?
the managers, board of directors, and workers of the company
Which of the following demonstrates the real value of a company's marketing research and information system?
the quality of customer insights it provides
Which of the following is part of the microenvironment of a firm's marketing environment?
the suppliers who work with the company
The responsibility for setting a company's mission, objectives, broad strategies, and policies lies with its ________.
top management
According to the five-step model of the marketing process, the first step in marketing is ________.
understanding the marketplace and customer needs and wants
_______ is the final step in the marketing research process.
Interpreting and reporting the findings
________ is often the most difficult but most critical step in the research process.
Collecting and analyzing the data
________ markets consist of individuals and households that buy goods and services for personal use.
Consumer
Secondary data consist of information collected for the specific purpose at hand.
False
The growth rate of a strategic business unit that is classified as a star remains constant over time.
False