Marketing Exam 1

________ is the act of obtaining a desired object from someone by offering something in return.

Exchange

The objectives of _______ research is to gather preliminary information that wll help define the probelm suggest hypotheses.

Exploratory

Reseller markers consist of ____________.

Firms that buy goods and services to sell at a profit

Susan Hart, the manager of a children's boutique, collects data from her monthly records of sales, costs, and cash flow. In this case, Susan is making use of _________ databases.

Internal

A business buyer has bought a product serveral times, but for this purchase is considereing a change in product specifications, terms, and possible suppliers. This buying situation is referred to as a(n) __________.

Modified rebuy

A marketing intermediary would most likely help a firm by ___________.

Moving the firm's good from production points to distribution centers

Which of the following is the first stage of the buyer decision process?

Need recognition

_________ are defined as states of felt deprivation.

Needs

Which of the following best describes a company's business portfolio?

The collection of businesses and products that make up the company

Which of the following demonstrated the real value of a company's marketing research and information system?

The quality of customer insights it provides

Which of the following represents a change in the technological evnironment of a marketing firm?

Increased used of RFID systems to track products

_______ are flexible and allow for explanation of difficult questions as well as demostrating products.

Individual interviews

____________ is a discomfort caused by postpurchase conflict (buyers remorse).

Cognitive dissonance

The selling concept indicated that __________.

Consumers will not buy enough of a firm's products unless the firm undertakes large-scale persuasion and promotion efforts.

A professor asks his class of 25 students to take a survery. This is best described as a __________.

Convenience sample

For the past nine years, PepsiCo's Doritos brand has held a "Crash the Super Bowl" contest in which it invites 30 second ads from consumer and runs the best ones during the same. This is an example of ________.

Consumer-generated marketing

Which of the following best describes product positioning?

Arranging for a product to occupt a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

A consumer who is potentially profitable but not loyal to a firm's offerings is referred to as a ________.

Butterfly

Ursa Martin, a book publisher, has decided to work with Hope in children, a charity foundation that helps feed and educate children in poor countries. Ursa Martin has decided that a percentage of revenue from every book it sells will go to charity. The books are marketed by conveying this message to customers. Which of the following marketing techniques describes Ursa Martin's association with Hope in Children?

Cause-related marketing

According to the text, ________ are the most important actors in a company's microenvironment.

Customers

________ is often the most difficult, but most critical step in the research process.

Defining the probelm and research objectives

Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's wants has most likely become a __________.

Demand

____________ is the study of human populations in terms of size, density, loction, age, gender, race, occupation, and other statistics.

Demographics

Which of the following will most likely be included in the "price" component of a company's marketing mix?

Discounts

___________ is the degree to which an innovation may be tried on a limited basis.

Divisibility

__________ refers to reducing the business portfolio by abandoning products that no longer fit the company's overall strategy.

Downsizing

_____________ are tadition-bound, suspicious of changes, last to adopt an innovation, and adopt an innovation only when it has become something of a tradition itself.

Lagging adopters

In the BCG growth-share matrix, question marks refer to products or businesses with a _______.

Low market share in a market with high growth prospects

Demogrpahic, economic, natural, technological, political, and cultural forces from the ______ of an organization.

Macroenvironment

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 known as _________.

Market penetration

Dividing a market into serveral sections of customers is known as _______.

Market segmentation

________ refers to the process of evaluating each market segment's attractiveness and selecting one or more segments to enter.

Market targeting

________ is the art and science of choosing target markets and building profitable relationships with them.

Marketing management

A _______ is purposeful, specifying what an organization wants to accomplish in the larger environment.

Mission statement

Which of the following is a structed method of online research where marketers require direct responses from customers?

Online surveys

Which of the following is true of question format in questionnaires?

Open-ended questions are useful in exploratory research to find out what people think

__________ data consist of information collected for the specific purpose at hand.

Primary

The four "p"s of marketing are.

Product, price, place, promotion

PC manufacturere, Lenovo, focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Lenovo most likely follows the ___________.

Production concept

A show company's ads feature the memebers of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a ________.

Reference group

Sally purchased a newly introduced moisturizing lotion. By attempting to find out if the lotion's perceived performance matched her expectations, Salle was measuring her level of customer _________

Sarisfaction

Traxx is a newly emerging shoe manufacturing company. After extenstive market research, Traxx divides its market into professional athletes, "hobbyists" or amateur players, and people who wear shoes as part of their casual attire. Each category has its own needs, traits, and marketing goals. In this scenario, Traxx has enagaged in market _______.

Segmentation

Which of the following needs in Maslow's hierarchy is generally satisfied last?

Self-actualization

________ is a method of gathering primary data that involves asking people questions about their knowledge, attitudes, preferences, and buying behavior.

Survey research

Which of the following is an advantage of primary data?

They are more relevant than secondary data

Which of the following is most likely a characteristic of Generation Xers?

They were the first group to grow up in the Inernet era

In a SWOT analysis, ________ refer to unfavorable external factors or trends that may present challenges to performance.

Threats

A _______ is made up of a compant, its suppliers, its distributors, and its customers who partner with each other to imporve the perforamnce of the entire system.

Value delivery network

________ are the form human needs take as they are shaped by culture and individual personality.

Wants