Marketing Test #1

The Escapade Academy is developing its marketing mix for the coming year. Its managers know that they must first select _______________________ which may be the most important decision they make in the planning process.

a target market

When SmartSheet, a producer of software, delayed the introduction of its new spreadsheet app to modify the package, its scheduled TV advertisements announcing the new product needed to be revised. In this case, a change in the ____________________ variable caused changes in the _________________ variable of the marketing mix.

product, promtion

According to the_______________________________, an organization should try to provide products that satisfy customers' needs and allow the organization to achieve its goals.

marketing concept

In addition to the proliferation of new organic brands, many conventional marketers have introduced organic versions of their products, including Gatorade, Kraft Heinz, and even Kroger. These firms are responding to changes in _________________________________.

marketing environment

A framework for gathering and managing information from sources both inside and outside an organization is referred to as ________________________________.

marketing information system

Kroger Food Stores is involved in identifying and analyzing a target market. The firm then develops a marketing mix to satisfy individuals in that market to gain long-term competitive advantages. Based on this example, Kroger is creating a ___________________________.

marketing strategy

STM is located in a small city that has limited economic growth at this time. Due to the condition of the local school system, STM contributed $1 million to repair and revive it, stating that STM believed in education for the community. This action would imply that STM is in the ______________________ level of the pyramid of social responsibility?

philanthropic

The forces of the marketing environment include _____________________, _____________________, ________________________, __________________________, ___________________________ and ________________________.

political, Legal & Regulatory, sociocultural, technological, economic, competitive

Gabrielle Jackson is running for Congress from the Fifth District in her state. She is interested in knowing the intended choices of the voters. All the registered voters in her district would constitute the study's _______________________.

population

Data that are observed or collected directly from respondents are called _________________________.

primary data

CalAtlantic Group needs information about trends in housing starts and remodeling around the country. Since it will be difficult to collect ___________________ from the numerous locations, it decides to use _____________________ data from the U.S. Department of Commerce reports to get this information.

primary, secondary

The two basic types of sampling that marketing researchers use are _______________________ and __________________________.

probability sampling, non-probability sampling

Deciding to add gel insoles to its running shoes would be a change in the _________________________ element of the marketing mix for Nike

product

In the Chapter 3 lecture, White Claw was shown as the ________________________ competitor for Michelob Ultra?

product

When Home Depot develops new carpet fibers that are highly stain-resistant and durable, it must educate consumers about the product's benefits. This calls for activity in which of the following marketing mix variables _______________________.

promotion

Assuming that inflation is low, high buying power characterizes the ______________________ stage of the business cycle.

prosperity

The _________________ sampling design gives every member of the population an equal chance of appearing in the sample.

random

The final step in the marketing research process is _______________________________________.

report research findings

In marketing research, a _____________________ is best described as a limited number of units chosen to represent the characteristics of a total population.

sample

The three basic forms that a product can take are ________________________, ______________________ and ___________________________.

services, ideas, goods

Coca-Cola executives realized that more consumers are concerned with health. It has since expanded into the bottled water and sports drink markets. This is an example of a firm identifying and capitalizing on a _______________________.

sociocultural force

Within a business organization, a profit center that is self-supporting in terms of sales, markets, production, and other resources is known as a __________________________________.

strategic business unit

Managers at the Tycho Manufacturing are engaged in a complex process of revising their organization's mission and goals and developing corporate strategy, marketing objectives, marketing strategy, and eventually a marketing plan. This process is called ____________________________.

strategic planning

Sony's strong name recognition and solid customer demand for its televisions and game systems are two elements of the firm's __________________________.

strengths

The Escapade Academy is developing its marketing mix for the coming year. Its managers know that they must first select ________________________ which may be the most important decision they make in the planning process.

target market

In today's marketing environment, competitors can take on many forms. For example, a Starbucks latte can be seen as a competitor to an issue of The New York Times. In this circumstance, these two products are described as ______________________ competitors.

total budget

The accumulation of past income, natural resources, and financial resources is known as ______________________.

wealth

The focal points of all marketing activities are _________________________.

Customers

In the Chapter 2 lecture, we watched a SpaceX video. Based on the information in that video, what advantage does SpaceX have over China? _______________________________

First Mover (?)

A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. _____________________, ______________________, ____________________________ and __________________________ are the essential variables that the marketing manager combines.

Product, Price, Distribution, promotion variables

According to the consumer bill of rights, the idea that consumers' interests should receive full and sympathetic consideration in the formulation of government policy is known as the right to _________________________.

be heard

High-volume data collected from social networks, RFID, retailer scanning, purchases, logistics, and production that marketers can use to discover unique insights and make more knowledgeable marketing decisions is best characterized as ________________________________.

big data

Dasani, SmartWater, Aquafina, Glaceau, PureLife, and Fiji are examples of ______________________ competitors in the beverage industry.

brand

Tom's of Maine's natural toothpaste is highly popular but is unlikely to experience much more market growth. As a result, Tom's of Maine is examining other forms of toothpaste with high potential for growth. However, because its natural toothpaste remains so profitable, it can use these profits to invest in newer toothpastes. Tom's of Maine's natural toothpaste is an example of a ______________.

cash cow

Big Valley General Hospital has designed an upcoming research project for determining the best methods for improving patient care. The next step the organization must take in the marketing research process is _____________________________.

collecting data

When using __________________ to make purchases, consumers are increasing current buying power at the expense of future buying power.

credit

The definition of marketing implies that ___________________________ should receive benefits from exchange relationships

customers and business

Big data allows marketers to look at patterns of consumption behavior in order to _______________________________________.

discover unique insights and market strategic marketing decisions.

A(n) ________________________________ includes a detailed assessment of the competitive, economic, political, legal, regulatory, technological, and sociocultural factors that could affect marketing activities.

environmental analysis

Zappos collects information about a wide variety of competitive, economic, political, legal and regulatory, technological, and sociocultural forces that affect its marketing activities. This process is called _______________________________________.

environmental scanning

The first step in the strategic performance evaluation is to _____________________________________.

establish performance standards

A(n) _________________________________is the ability of an innovative company to achieve long-term competitive advantages by being the first to offer a certain product in the marketplace.

first-mover advantage

The Nike soccer shin guard video we watched during the Chapter 4 lecture is an example of a(n) __________________________.

focus group (?)

Chrisjen Nagata and seven other people were paid to get together and discuss a new product idea proposed by Procter & Gamble. Researchers observed the interaction of the group. During the discussion, Chrisjen was annoyed that Sadavir, another participant, seemed to "hog" the discussion and didn't give others a chance to speak. This is an example of a problem when using ___________________________.

focus-group interviews

An informed guess or assumption about a certain problem or set of circumstances is known as ________________________________.

hypothesis

Never Again MSD is a group that works to change attitudes and laws about gun control. Never Again MSD primarily markets ____________________.

ideas

A person's buying power is a function of ____________________, _____________________, and ___________________________.

income, credit, wealth

DoneFast Inc. is a very profitable automobile repair shop. The company is well known for its speedy service and involvement in the community, but it fails to properly dispose of its used oil as outlined in environmental regulations. DoneFast is failing in its _______________________ responsibilities.

legal

A group that has the willingness, ability, and authority to buy a product is a ______________________.

market

The percentage of a market which actually buys a specific product from a specific company is referred to as that product's ____________________________.

market share