Intro to marketing study guide

Since the most recent election, the members in Alex's community have felt considerably more optimistic about the shape of the economy. As a result, the members of Alex's community have purchased more. There has likely been the result of an increase in ________.

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The American Marketing Association has established these to ensure that marketing firms do not return findings favorable to the client or arrive at a conclusion predetermined by the client.

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The Shirt Shop partners with other local businesses to run canned food drives that help combat hunger in surrounding counties. Thomas is a store employee who helps out with these events on his own time. There is no effort on the part of The Shirt Shop to encourage employees to participate, Thomas is helping out of his own free will. This is an example of ________.

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The actions a firm must take to accomplish the marketing objectives established in its mission statement and strategic planning process are outlined in the

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When a big name retailer decides to open its own manufacturing plant overseas, this is an example of

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Which of the following best describes the components of the marketing mix?

-Product. -Price. -Place. -Promotion

Which of the following is a variable cost?

-Sales Commissions. -Direct Labor Costs. -Cost of Raw Materials. -Utility Costs

According to your text, what three elements should be contained within a company's financial projections?

-Sales Forecast. -Expense Forecast. -Break - Even Analysis

How many countries were members of the IMF?

189 countries

What racial group are marketers now paying more attention to because they represent the highest income, best educated, and fastest growing racial group in the U.S.?

Asians

Which public relations tool is typically intended to inform and engage the public?

Brochures

Intermediaries through which the flow of products travels are called

Distribution Channels

What document provides a one- to two-page summary of the marketing plan's main points?

Executive Summary

BMW is a car company that is marketed under the same name across multiple countries. What type of branding is this considered to be a description of?

Global Branding

Compare the following statements made by a salesperson and select the one that exemplifies handling objections by denial.

It simply is not accurate to claim that our product is a copycat of XYZ brand. We have a patent showing how our product is considerably different

The process of planning, implementing, and controlling the flow of goods, services, and information between the point of origin and the point of consumption in order to meet customer requirements is called

Logistics

Matt's Mobile Services has designed a cell phone plan especially for tech-savvy teens who are heavy cell-phone users and live in households earning over $150,000 per year. In tailoring the plan for a specific group of consumers based on their particular needs, Matt's Mobile Services has provided an example of.

Market Targeting

The measure of a firm's effectiveness in using the resources allocated to its marketing effort is called

Marketing return on Investment (ROI)

Which statement regarding the physical presence of retail stores is true?

Most retail transactions occur in physical stores

Jayla and Stuart are trained researchers. They visit restaurants posing as customers in order to assess the level of service, quality of food, and competence of the wait staff. Jayla and Stuart are called

Mystery Shoppers

______ is an important marketing activity as it allows salespeople to represent the firm to customers, gather information on customer likes and dislikes, and provide market feedback on competitors and trends in the macro-environment.

Personal Selling

Which marketing mix element describes what a buyer exchanges with a seller?

Price

During what stage in the evolution of marketing did firms believe that quality products would sell themselves?

Production Era

A measure of the percentage of the target market that has been exposed to a promotional message at least once during a specific time period is referred to as

Reach

Research plan development is also sometimes called

Research Design

Which era in the history of marketing continued until the end of World War II?

Sales Orientation

If a company's CRM efforts lead to an increase in the number of goods or services purchased by a consumer, then it has been successful in increasing its

Share of customers

The group of people to whom a firm directs its marketing efforts and ultimately its merchandise is known as Its ______Market

Target

Scotts Fertilizer has a 4-step program for lawn care. Each step features a different product. Scotts sells the fertilizer as a set containing one bag of each of the 4-step products. If Scotts decided to sell each product individually rather than as a set, it would be an example of which pricing strategy?

UnBundling

The ease with which website visitors can achieve their objectives for visiting the site is termed

Website Usability

Country-of-origin effects are the

beliefs & associations people in one country have about goods & services produced in another country.

All along the supply chain, distribution channels add value to the product by

changing the products form or location

In the planning phase of website development, the planning team works with stakeholders to

develop a clear understanding of the site's target audience and its needs

Marketers must constantly monitor their competitors' products, prices, distribution, and promotional efforts because:

firms may need to adjust their marketing mix based on new competing products.

Which of the following represents B2B marketing?

marketing to organizations that are then sold and supplied to others.

A family traveling in their car is looking for a place to eat off the highway. One of the children in the car sees a sign up ahead with the face of Ronald McDonald on it and exclaims, "Let's go to McDonald's!" This is most likely an example of brand

recognition

What issue highlighted in your text is an ever-present concern for customers regarding CRM systems?

the worry that customer data is not secure

Journey mapping is a technique that helps companies identify

their customers' point of view when brand seeking.

If FedEx makes the mistake of assuming that foreign consumers participate in the same type of activities as those individuals in the United States and thus only offers the same products and services in the United States to these foreign consumers, then FedEx is making a mistake concerning

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Savings accounts and insurance policies are means by which individuals satisfy the need for ________.

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