MARKETING MANAGEMENT EXAM 1 CH. 1-5

CUSTOMER-PERCEIVED VALUE (CPV)

.

WHICH OF THE FOLLOWING BEST CONTRIBUTES TO A MEANINGFUL MISSION STATEMENT?

A STATEMENT THAT STRESSES THE COMPANY'S MAJOR POLICIES AND VALUES.

DISTRIBUTOR OR SALES AGENT FEEDBACK SITES

AN INTERACTIVE, ONLINE, FEEDBACK OPPORTUNITY IN WHICH BUYERS, EDITORS, READERS, AND OTHERS CAN REVIEW PRODUCTS ON A WEBSITE IS AN EXAMPLE OF WHICH SOURCE OF INTELLIGENCE DATA

_______ MAKE UP THE MODERN MARKETING INFORMATION SYSTEM (MIS)

AN INTERNAL RECORDS SYSTEM, A MARKETING INTELLIGENCE SYSTEM AND A MARKETING RESEARCH SYSTEM

SOCIAL RESPONSIBILITY

AS GOODS BECOME MORE COMMODITIZED AND CONSUMERS GROW MORE SOCIALLY CONSCIOUS, SOME COMPANIES INCORPORATE __________ AS A WAY TO DIFFERENTIATE THEMSELVES FROM COMPETITORS, BUILD CONSUMER PREFERENCES, AND ACHIEVE NOTABLE SALES AND PROFIT GAIN.

JUSTINE CONDUCTS A SURVEY ON BEHALF OF HER FIRM, CATERPILLAR. IN THE SURVEY, SHE ASKS PROSPECTS TO RATE CATERPILLAR- AND KOMATSU-BRANDED TRACTORS ON THEIR PERFORMANCE ON ATTRIBUTES THAT ARE IMPORTANT TO THE CUSTOMER. IN WHICH STEP IN THE CUSTOMER VALUE ANALYSIS IS JUSTINE ENGAGED?

ASSESSING THE COMPANY'S AND COMPETITOR'S PERFORMANCES ON THE DIFFERENT CUSTOMER VALUES AGAINST THEIR RATED IMPORTANCE

CUSTOMER RELATIONSHIP MANAGEMENT

ATTRACTING, RETAINING, AND CULTIVATING STRONG CUSTOMER RELATIONSHIPS ARE THE GOALS OF ANY MARKETER. THE PROCESS OF _______ CAREFULLY MANAGES DETAILED INFORMATION ABOUT INDIVIDUAL CUSTOMERS AND ALL TOUCH POINTS TO MAXIMIZE LOYALTY, IS ONE WAY TO ACHIEVE THIS GOAL.

SAFEWAY SUPERMARKET'S SCANNER SHOWS THAT HIGH-INCOME PEOPLE DON'T NECESSARILY BUY THE MORE EXPENSIVE BRANDS. THIS IS AN EXAMPLE OF _______ RESEARCH.

BEHAVIORAL

WHICH OF THE MARKETING MEASUREMENT PATHWAYS CAPTURES THE BRAND'S IMAGERY AND ATTRIBUTES, EQUITY DRIVERS, AND FINANCIAL VALUATION?

BRAND METRICS

CROSS-FUNCTIONAL TEAMS

COMPANIES WHO LINK ACTIVITIES BETWEEN MULTIPLE DEPARTMENTS TO MAKE SURE THAT VALUE-CHAIN PROCESSES FLOW SMOOTHLY IN ONE ANOTHER USE___________.

WHICH OF THE FOLLOWING IS TRUE CORE COMPETENCIES?

CORE COMPETENCIES ARE DIFFICULT FOR COMPETITORS TO IMITATE.

WHICH OF THEW FOLLOWING REPRESENTS SHARED BELIEFS AND NORMS THAT CHARACTERIZE AN ORGANIZATION?

CORPORATE CULTURE

FADS

CROCS CLOGS, ELMO TMX DOLL, AND POKEMON GIFTS AND TOYS ARE EXAMPLES OF _________, WHICH ARE UNPREDICTABLE, SHORT-LIVED, AND WITHOUT SOCIAL, ECONOMIC AND POLITICAL SIGNIFICANCE.

MARKETING IS ULTIMATELY THAT ART OF ATTRACTING AND KEEPING PROFITABLE CUSTOMERS. THE CASE FOR MAXIMIZING LONG-TERM CUSTOMER PROFITABILITY IS CAPTURED IN THE CONCEPT OF _______.

CUSTOMER LIFETIME VALUE

COMPANIES MONITOR THEIR _______ SO THAT THEY CAN CONTACT THOSE WHO HAVE STOPPED BUYING OR WHO HAVE SWITCHED TO ANOTHER SUPPLIER TO FIND OUT WHY.

CUSTOMER LOSS RATE

THE DIFFERENCE BETWEEN THE CUSTOMER'S VIEW OF THE BENEFITS AND COSTS OF AN OFFERING AND THE PERCEIVED ALTERNATIVES IS REFEREED TO AS ________

CUSTOMER-PERCEIVED VALUE

TO REDUCE THE DEFECTION RATE, THE COMPANY MUST________.

DEFINE AND MEASURE ITS RETENTION RATE

WITHIN THE RAPIDLY CHANGING GLOBAL PICTURE, MARKETERS MUST MONITOR SIX MAJOR FORCES INCLUDING________.

DEMOGRAPHIC, ECONOMIC, SOCIAL-CULTURAL, NATURAL, TECHNOLOGICAL, AND POLITICAL-LEGAL

WHICH OF THE FOLLOWING IS A CHARACTERISTIC OF DISSATISFIED CUSTOMERS?

DISSATISFIED CUSTOMERS HAVE LOWER EXPECTATIONS.

WHICH OF THE FOLLOWING HELP DISPLAY, SELL, OR DELIVER THE PHYSICAL PRODUCT TO THE BUYER OR USER?

DISTRIBUTION CHANNELS

WHICH TYPE OF GROWTH IS MOST BENEFICIAL WHEN A COMPANY HAS THE RIGHT MIX OF BUSINESS STRENGTHS TO SUCCEED IN OPPORTUNITIES THAT EXIST OUTSIDE OF ITS PRESENT BUSINESS?

DIVERSIFICATION GROWTH

WHICH OF THE FOLLOWING BEST DESCRIBES THE 80/20 RULE?

EIGHTY PERCENT OF THE PROFITS COME FROM THE TOP TWENTY PERCENT OF A FIRM'S CUSTOMERS

WHICH OF THE FOLLOWING MOST COMPLETELY LISTS THE TYPICAL CONTENTS OF A MARKETING PLAN?

EXECUTIVE SUMMARY AND TABLE OF CONTENTS, SITUATION ANALYSIS, MARKETING STRATEGY, MARKETING TACTICS, FINANCIAL PROJECTIONS, AND IMPLEMENTATION CONTROLS

THE VALUE-DELIVERY PROCESS CONSISTS OF WHICH THREE KEY ACTIVITIES?

IDENTIFYING, PROVIDING AND COMMUNICATING SUPERIOR VALUE

ECONOMIC

INCOME DISTRIBUTION AND TRENDS RELATED TO SAVINGS, DEBT, AND CREDIT ARE PART OF THE ______ ENVIRONMENT.

DEMOGRAPHIC

INFORMATION SUCH AS "5% OF THE WORLD'S POPULATION LIVES IN NORTH AMERICA." IS AN EXAMPLE OF WHAT TYPE OF DATA?

WHEN MARKET RESEARCHERS ASK INCREASINGLY MORE SPECIFIC "WHY" QUESTIONS TO REVEAL CONSUMER MOTIVATIONS AND DEEPER, MORE ABSTRACT GOALS, THEY ARE USING____.

LADDERING

" SMALL AIRLINES GENERALLY GIVE BETTER SERVICE THAN LARGE ONES." A QUESTION THAT ASKS THE RESPONDENT TO SHOW THE AMOUNT OF AGREEMENT/DISAGREEMENT WITH THIS STATEMENT ON A SCALE NUMBERED FROM 1 (STRONGLY DISAGREE) TO 5 (STRONGLY DISAGREE) IS AN EXAMPLE OF A (N)________ ITEM.

LIKERT SCALE

___________ REPRESENTS MEGA-TRENDS THAT ARE INFLUENTIAL IN THE MACRO-ENVIROMENT.

MAJOR SOCIAL, ECONOMIC, POLITICAL, AND TECHNOLOGICAL CHANGES THAT HAVE LONG-LASTING INFLUENCE

TODAY'S MARKETPLACE DIFFERS FUNDAMENTALLY AS A RESULT OF MAJOR SOCIETAL FORCES THAT HAVE RESULTED IN _________.

MANY NEW CONSUMER AND COMPANY CAPABILITIES

WHICH OF THE FOLLOWING IS DETERMINED BY COMPARING THE CURRENT AND POTENTIAL LEVELS OF MARKET DEMAND?

MARKET-PENETRATION INDEX

THE INTERNET AUGMENTS MARKETERS' GEOGRAPHIC REACH TO INFORM CUSTOMERS AND PROMOTE PRODUCTS WORLDWIDE. THIS IS AN EXAMPLE OF WHICH OF THE FOLLOWING NEW COMPANY CAPABILITIES?

MARKETERS CAN USE THE INTERNET AS A POWERFUL INFORMATION AND SALES CHANNEL

WHICH OF THE FOLLOWING DEFINITIONS OF MARKETING IS AN EXAMPLE OF A SOCIAL DEFINITION OF MARKETING?

MARKETING IS A SOCIETAL PROCESS BY WHICH INDIVIDUALS AND GROUPS OBTAIN WHAT THEY NEED AND WANT THROUGH CREATING, OFFERING, AND FREELY EXCHANGING PRODUCTS AND SERVICES OF VALUE WITH OTHERS.

WHAT IS THE WRITTEN DOCUMENTATION THAT SUMMARIZES WHAT THE MARKETER HAS LEARNED AND HOW A FIRM PLANS TO REACH MARKETING OBJECTIVES?

MARKETING PLAN

WHICH OF THE FOLLOWING LINKS THE CONSUMER, CUSTOMER, AND PUBLIC TO THE MARKETER THROUGH INFORMATION?

MARKETING RESEARCH

WHICH OF THE FOLLOWING LINKS THE CONSUMER, CUSTOMER, AND PUBLIC TO THE MARKETER THROUGH INFORMATION? REPEAT QUES.

MARKETING RESEARCH (REPEAT)

OUTLINING FORMS OF DISTRIBUTION IS COVERED IN WHICH SECTION OF THE MARKETING PLAN?

MARKETING TACTICS

A PART OF THE MARKETING PLAN IS MARKETING STRATEGY WHICH FOCUSES ON________.

MISSION AND OBJECTIVES

WHICH OF THE FOLLOWING IS ONE OF THE POSITIVE ASPECTS TO ONLINE RESEARCH?

ONLINE RESEARCH IS FAST

IN A QUESTIONNAIRE, _______ ALLOW RESPONDENTS TO ANSWER THEIR OWN WORDS AND OFTEN REVEAL MORE ABOUT HOW PEOPLE THINK RATHER THAN MEASURING HOW MANY PEOPLE THINK IN A CERTAIN WAY.

OPEN-ENDED QUESTIONS

WHICH OF THE FOLLOWING MOST FULLY LISTS THE TYPES OF SYSTEMS AND DATA THAT ARE USEFUL IN INTERNAL REPORTS?

ORDER-TO-PAYMENT CYCLE, SALES INFORMATION SYSTEMS, DATABASES, DATA WAREHOUSES, AND DATA MINING

WHICH OF THE FOLLOWING MOST COMPLETELY LISTS THE SPECIFIC TYPES OF INTERNAL RECORDS THAT ARE USEFUL IN AN MIS?

ORDERS, SALES, PRICES, COSTS, INVENTORY LEVELS , RECEIVABLES, AND PAYABLES

WHAT IS THE TOTALITY OF CHARACTERISTICS OF A PRODUCT THAT AFFECTS ITS CAPABILITY TO SATISFY NEEDS?

QUALITY

WHICH OF THE FOLLOWING IS AN EXAMPLE OF AN EXTERNAL MARKETING METRIC?

RELATIVE PERCEIVED QUALITY

RESEARCHERS USUALLY START THEIR INVESTIGATION BY EXAMINING COME OF THE RICH VARIETY OF LOW-COST AND READILY AVAILABLE_______, AND THEN COLLECT ________ IF THE NEEDED DATA DOES NOT EXIST OR IS DATED, INACCURATE, INCOMPLETE, OR UNRELIABLE.

SECONDARY DATA; PRIMARY DATA

WHICH NEW MARKETING CAPABILITY HAS BEEN PROVIDED TO COMPANIES WITH INCREASED USE OF THE INTERNET?

SENDING TARGETED ADS, COUPONS, AND INFORMATION

CUSTOMER PROFITABILITY ANALYSIS (CPA)

SHOWS THE PROFITABILITY OF SELLING A PRODUCT TO A CUSTOMER.

SWOT REFERS TO AN EVALUATION OF ______?

STRENGTHS, WEAKNESSES, OPPORTUNITIES, AND THREATS

THE NIELSEN COMPANY, KANTAR GROUP, WESTAT, AND IRI ARE EXAMPLES OF _____, OR FIRMS THAT GATHER CONSUMER AND TRADE INFORMATION THAT THEY THEN SELL FOR A FEE

SYNDICATED-SERVICE RESEARCH FIRMS

WHEN CONDUCTING MARKETING RESEARCH, TALKING TO DISTRIBUTORS IS AN EXAMPLE OF WHAT LOW-COST MARKET RESEARCH TECHNIQUE?

TAPPING INTO MARKETING PARTNER EXPERTISE

WHEN CONDUCTING MARKETING RESEARCH, TALKING TO DISTRIBUTORS IS AN EXAMPLE OF WHAT LOW-COST MARKET RESEARCH TECHNIQUE?REPEAT

TAPPING INTO MARKETING PARTNER EXPERTISE (REPEAT)

WHICH OF THE FOLLOWING IS A NEW CONSUMER CAPABILITY?

TAPPING INTO SOCIAL MEDIA TO SHARE OPINIONS AND EXPRESS LOYALTY

THE THREE TRANS FORMATIVE FORCES THAT HAVE CREATED NEW MARKETING BEHAVIORS AND OPPORTUNITIES IN THE PAST 10 YEARS INCLUDE________.

TECHNOLOGY, GLOBALIZATION, AND SOCIAL RESPONSIBILITY

WHICH OF THE FOLLOWING INCLUDES ALL THE ACTIVITIES ASSOCIATED WITH DEFINING TARGET MARKETS AN PROSPECTING FOR NEW CUSTOMERS?

THE CUSTOMER-ACQUISITION PROCESS

LATENT

THE DEMAND STATE DESCRIBED WHEN CONSUMERS SHARE A STRONG NEED THAT CANNOT BE SATISFIED BY AN EXISTING PRODUCT IS ___________ DEMAND.

BUYERS WILL BUY FROM FIRMS THEY PERCEIVE TO OFFER _________.

THE HIGHEST CUSTOMER-DELIVERED VALUE

CONSUMER

THE MARKETS THAT CONSIST OF MASS CONSUMER GOODS AND SERVICES SUCH AS JUICES, COSMETICS, ATHLETIC SHOES AND AIR TRAVEL ARE CALLED________ MARKETS.

WHICH OF THE FOLLOWING REFLECTS HOW WE DEFINE RELATIONSHIPS TO OURSELVES, OTHERS, ORGANIZATIONS, SOCIETY, NATURE, AND THE UNIVERSE?

THE SOCIO-CULTURAL ENVIRONMENT

MARKETING NETWORK

THE ULTIMATE OUTCOME OF RELATIONSHIP MARKETING IS A UNIQUE COMPANY ASSET CALLED A ___________, WHICH CONSISTS OF THE COMPANY AND ITS SUPPORTING STAKEHOLDERS WITH WHOM IT HAS BUILT MUTUALLY PROFITABLE BUSINESS RELATIONSHIPS.

WHICH OF THE FOLLOWING A TOOL FOR IDENTIFYING WAYS TO CREATE MORE CUSTOMER VALUE?

THE VALUE CHAIN

WHAT DOES RETURN ON MARKETING INVESTMENT (ROMI) MEASURE?

THE VALUE OF DIRECT AND INDIRECT MARKETING

WHICH OF THE FOLLOWING DOES NOT CONTRIBUTE TO THE FIVE MAJOR CHARACTERISTICS OF A GOOD MISSION STATEMENT?

THEY DISCUSS SPECIFIC COMPETITIVE COMPANIES.

HOW CAN A COMPANY ENCOURAGE AND INCREASE THE INTELLIGENCE GATHERED BY THE SALES FORCE?

TRAIN THE SALES FORCE TO SPOT AND REPORT NEW DEVELOPMENTS

WHICH OF THE FOLLOWING WOULD MAKE A SMALL BUSINESS UNIT LEAST EFFECTIVE?

USING DIFFERENT MANAGERS TO EXECUTE THE SAME BUSINESS STRATEGY

THE _______ CONSISTS OF THE WHOLE CLUSTER OF BENEFITS THAT COMPANY PROMISES TO DELIVER.

VALUE PROPOSITION

WHICH OF THE FOLLOWING IS A SET OF BENEFITS THAT SATISFY CUSTOMER NEEDS?

VALUE PROPOSITION

TARGET MARKET

WHEN A COMPANY CONCENTRATES ITS MARKETING AND DISTRIBUTION EFFORT ON THE EAST COAST, IT IS FOCUSING ON THE ________, WHICH IS THE PART OF THE QUALIFIED AVAILABLE MARKET THE COMPANY DECIDES TO PURSUE.

VIEWS OF SOCIETY

WHEN CONSUMERS ARE CHARACTERIZED AS PRESERVERS, MAKERS, TAKERS, CHANGERS, SEEKERS, OR ESCAPERS, THIS IS BECAUSE THESES REFLECT THEIR _____.

SATISFACTION

______ IS A PERSON'S FEELINGS OF PLEASURE OR DISAPPOINTMENT THAT RESULT FROM COMPARING A PRODUCT OR SERVICE'S PERCEIVED PERFORMANCE (OR OUTCOME) TO EXPECTATIONS.

FORECASTING

______ IS THE ART ANTICIPATING WHAT BUYERS ARE LIKELY TO DO UNDER A GIVEN SET OF CONDITIONS.

DEMANDS

________ ARE WANTS FOR SPECIFIC PRODUCTS BACKED BY AN ABILITY TO PAY

ONLINE RESEARCH

________ IS EXAMPLE OF A SECONDARY DATA SOURCE.

MARKETING METRICS

________ IS THE SET OF MEASURES THAT HELPS MARKETERS QUANTIFY, COMPARE, AND INTERPRET THEIR MARKETING PERFORMANCE.

A BUYER'S SATISFACTION

________IS A FUNCTION OF THE PRODUCT'S PERCEIVED PERFORMANCE AND THE BUYER'S EXPECTATIONS.

SERVICE CHANNELS

__________, SUCH AS TRANSPORTATION COMPANIES, BANKS, INSURANCE COMPANIES, ARE USED TO CARRY OUT TRANSACTIONS WITH POTENTIAL BUYERS