Unit 1 Test

​a limited number of units chosen to represent the characteristics of a total population.

In marketing research, a sample is best described as:

forming a hypothesis

Research design means developing a plan for obtaining the necessary market information. When a researcher forms an informed guess or assumption about a certain problem, he or she is

defining the problem or research process is

The first step in the marketing research process is

a target market

​High Gliding Air 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.

marketing objective

A __________ states what is to be accomplished through marketing activities.

mission statement

A long-term view, or vision, of what an organization wants to become is called a

brand

Although all types of competition will affect Specialty Motors' marketing performance, it will be most concerned about __________ competitors.

Target Market

Coca-Cola is aiming its Diet Coke Plus (with vitamins and minerals) at health-conscious customers. These health-conscious customers represent Coke's

information

Customer relationship management (CRM) focuses on using ______ about customers to create marketing strategies that develop and sustain desirable customer relationships

collecting; assessing

Environmental scanning means __________ information about the marketing environment, whereas environmental analysis is concerned with __________ this information.

online databases

External sources of secondary data include trade associations, periodicals, government publications, unpublished sources, and

secondary data

Kristen is the new marketing manager for the footwear division of her company and is currently planning next season's product lines. She needs to gain access to data about recent purchasing patterns in the industry, but has a limited budget and time. Which type of data would be the best choice for Kristen to use in this situation?

Customer Relationship Marketing

Marketers use the term __________ to describe establishing long-term, mutually satisfying buyer-seller relationships.

Dog

Products that have a relatively low market share and low prospects for growth are considered by the Boston Consulting Group to be __________.

Political

Texas rice farmers wish to get their product into the Japanese market but are hindered by a complex maze of regulations imposed by the Japanese government. The farmers are most likely to attempt to influence which aspect of the marketing environment?

​oligopolies, monopolies, monopolistic competition, and pure competition.

The four major competitive structures are:

select representative units from a total population

The objective of sampling in marketing research is to:

market share

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

corporate strategy

The questions "Who are our customers?" and "What is our core competency?" are answered in the firm's

dynamics

The rapid adoption of the use of the Internet has resulted in rapid changes such as the increase of distance learning. These effects of technology are collectively known as:

internal secondary data

Time Warner Cable uses its sales reports broken down by geographic regions as part of its marketing research to determine which markets are most rapidly adopting high-speed Internet connections. In this example, Time Warner Cable is using

Depression

Total disposable income is at its lowest during which of the following?

Made in the U.S.A.

Volkswagen is planning its promotional strategy for its Passat model. When compared to others in its class, the Passat has average gas mileage, better comfort ratings, more leg room, better interiors, average dependability, and is made in its plants in Tennessee. Which of the following attributes of a Volkswagen Passat would be most appropriate to emphasize in television commercials during an economic recession?

stratified

When a population is divided into distinct groups based on some particular characteristic and a probability sample is taken from each group, this exemplifies _________ sampling.

Disposable income

Which category of income are marketers most interested in?

TimeWarner Cable TV

Which of the following firms would be most likely to have a monopoly for its competitive environment?

Serve as a contract with the customer

Which of the following is not a purpose of the marketing plan?

Marketing improves the quality of life of customers.

Which one of the following statements is true regarding the global impact of marketing?

Expect more and Pay Less

Your competition is beating you on price in your most important product market. In response, you decide to launch a new ad campaign focusing your customers on the price attribute of your marketing mix. You need a catch slogan that conveys the attractiveness of your product's pricing. Which of the following slogans should you use to convey this message most effectively?

Marketing orientation

_______________ is an organization-wide commitment to researching and responding to customer needs.

all students, faculty, supporters, and staff of the University of Michigan

​If the University Bookstore wanted to understand the textbook and school supplies needs on the campus of the University of Michigan, the population of study would be:

cash cow

​Rollins Steel Corporation, a leader in industrial supplies, has identified its auto battery unit as having a dominant market share; however, it has low prospects for growth. The unit currently generates more cash for Rollins Steel than is required to maintain its market share. According to the Boston Consulting Group, the auto battery unit would be classified as a _____

Market orientation

​The Gap conducted marketing research to identify explanations for the sales declines their various retail stores (e.g., Gap, Banana Republic, and Old Navy) are experiencing across the United States. The research focused on understanding the shopping habits and desires of their target market—the Millennial generation. The results indicate that Millennials are more interested supporting organizations who stand for something—or support a cause or contribute to providing social justice. The information can assist The Gap in reorganizing their company, developing new products and communicating with their target audiences to be more effective. Based upon this information, which orientation best applies to The Gap?

cash cow

​The director of marketing for 3M tapes tells the rest of the management team, "When it comes to our transparent packaging tape unit, our strategy will be to use funds generated here to support our venture in the industrial bonding market." This strategy indicates that the packaging tape unit falls into which one of the following classifications?

​that customer loyalty leads to increasing long-term profitability for the firm.

​The successful marketer understands that the key to her success is the relationships her firm is able to develop with current customers and potential customers. Moreover, her goal is to achieve the full potential of each of these relationships for the benefit of the firm. This marketer clearly understands:

Market orientation

​Toyota conducts extensive consumer research and discovered that Latinos are reportedly 15% more likely to buy a Japanese auto brand, like Nissan, Honda, or Toyota, than any other group ethnic group. Toyota is interested in the Latino market since they represent 20% to 30% of the brands' overall consumers. Due to its extensive use of research and customer insight, Toyota has been the top-selling brand for Hispanics for over 10 years thanks to effective marketing, like the "Somos Muchos Toyota" campaign and the implementation of Total Toyota in 2014. Toyota created the Total Toyota strategy, or T2, to increase its focus on minority communities and enhance sales by heading up the project with a team of minority leaders in local business communities. Based upon this information, which orientation best applies to Toyota?

secondary data

​When working as a summer intern for a local retail store, Jan Halverson was sent to the library to look up data on population forecasts for the city of San Antonio. The population information she found would be considered

marketing

​Which of the following is the most specific and detailed type of business strategy?

It is a ready source of buying power.

​Why are marketers interested in consumers' levels of disposable income?

Legal and regulatory force

​Your company provides oil exploration services to major oil companies in Russia. The United States government just announced it is imposing economic sanctions on Russia because of the military actions it has taken in Ukraine. This situation is an example of which of the following types of forces that constantly impact a company's dynamic marketing environment?