Practice

Lifestyle

A current trend in the United States involves rediscovering the benefits of home cooked food and the use of organic ingredients. Please choose to spend hours in the kitchen using only the freshest ingredients to cook healthy and nutritious meals. This change in ____ is one of the reasons for the increasing demand for organic ingredients

Geographic

Burton, a famous snowboard company, dives their customers into different regional units such as customers close to the rocky mountains or the alps. This is an example of ___ segmentation

Self-image enhancement

Miller, an expert in fostering customer community, engages customers at a deep emotional level, and has been ranked one of the breakaway brand by the brand consultancy , Miller is most likely positioned on

Specialty product

A spanish guitar that was handmade by the master craftsman bernardino milan suarez in 1930 in granada spain is an example of a

Casual

Alejandra Wang, am marketing manager, is about to test the hypothesis that the sale of a particular product will increase exponentially if there is a $5 drop in the selling price of the product. Alejandra is involved in _____ research

Microenvironment

Alex is studying the forces that affect a company's ability to service its customer such as the company suppliers marketing intermediaries customer markets competitors and publics alex i studying the ___ of the company

consistent

All of the following are requirements for effective segmentation except

Good Service Recovery

Andy Couriers, a company providing international express mail services, has a proactive customer communications team. The primary job of this team is to identify situations that led to customer dissatisfaction and then provide quick remedies to fix the problems. To a great extend this is has helped andy in winning customer loyalty in this instance andy has benefitted from

System re-engineering

As the business environment has changed the average company is facing many different challenges. Specifically____ is a very clearly king with 33% naming it as their top priority

perishability

ohn rents storage space to college students who go home for the summer but do not want to haul all of their property home and back. The business is profitable during the summer months but when the storage space is unoccupied in the off season john loses money. Which of the following characteristics of service is most likely the source of johns problem

demand

Liam gomes saved up for several months and is finally able to afford tickets to the superbowl, which he always wanted to see live, therefore he no longer has a want but a ___

based on age

Which of the following is not an example of behavior segmentation

Demographic segmentation

If a company market its products based on the gender age and income of its customers the company likely uses

Management revalues the products and businesses that make up the company

Portfolio analysis is a major

Product price place promotion

What od the four P's of marketing represent

Evaluating the resulting of the chosen positioning strategy

Which of the following is not part of choosing a differentiation and positioning strategy

Those that control the flow of information

Which of the statements best describes gatekeepers in the business buying process

derived demand

Which statement best characterizes the structure and demand in business markets

c) The focus of strategic planning is to define a game plan that integrates the goals capabilities and market opportunities of the organizations

Please pick the statement that best describes strategic planning a) At the corporate level the company starts the strategic planning process by determining what portfolio of businesses and product is best for the company b) A strategic plan deals with a company short term goals c) The focus of strategic planning is to define a game plan that integrates the goals capabilities and market opportunities of the organizations d) The strategic pan is a statement of an organization's purpose

Derived

Qualcomm the manufacturer of snapdragon processors for smartphones procures a large stock of materials to manufacture the processors in anticipation of the release of the new iphone is this an example of an _____ demand

Social Factors

Reference Groups, Social Networks, and family best represent which factor that influences consumer behavior?

They require significant cash to maintain market share

Which Statement best describes cash cows

d) All choices describe marketing objects

Which of the following best align with marketing objectives a) Increase market share b) Create local partnerships c) Increase promotion d) All choices describe marketing objects e) No choices describe

none

Which of the following best describes public as an actor in the marketing microenvironment

all

Which of the following is a problem with matrix approaches to the business portfolio

They segment by asset size

What is the strategy justin bremer from fidelity describes as a marketing segmentation strategy that fidelity uses

Production concept

Which marketing management orientation focuses on making products that are highly affordable

Competitors Interest

Which of the following is not a factor companies to consider in societal marketing

Market development

Hilti is an international active high quality tool manufacturer currently hilti is planning to expand its sales activities across further countries in this way hilti is probably following a strategy a) Market development b) Local marketing c) Market delineation d) Product adaptation e) Product development

connection to entertainment and information

If a consumer purchases a new flat screen smart television which can connect to services like netflix and amazon prime videos what is the core customer value involved

Consumer

Jordan MalarCo. A company based in Austin caters to a market of individuals and households that buy goods and services for personal consumption. Jordan Malar Caters to a _____ Market

occasion segmentation

Minimate Maid Promotes drinking orange juice at any time of day as a cool, refreshing drink. The Market segmentation approach Minute Maid is using is

Beliefs and attitudes

)Subcultures are made up of all of the following except

Generational differences lead to both age and cohort effects

What are the effects of generational differences

Inseparability perishability intangibility variability

What are the four key service characteristics

supplier

Pine Inc is manufacturer of metal bolts that are used by bolt inc to manufacture heavy machines, In this instance, Pin acts as a

Macro Environment

By studying the demographic economic political and cultural factors that affect an organization you likely study the ___ of the organization

b) Targeting positioning differentiation segmentation

The Customer driven marketing strategy focuses on creating value for targeted customers through which four key drivers a) Segmentation,product offering, innovation, research b) Targeting positioning differentiation segmentation c) Market offering brand awareness reference groups top sales teams d) Innovation b2b sales customer insight

Mission Statement

The company Google has set itself the goal to organize the world's information and make it universally accessible and useful. This goal represents goggles

Continuous Product Improvements

The product concept states that consumers favor products that offer the most quality performance and features. In this case, the focus should be on

c) Marketing emphasizes selling and advertising exclusively

Which of the following statements do not describe modern marketing a) MARKETING IS THE CREATION OF VALUE FOR CUSTOMERS b) MARKETING INVOLVES MANAGING profitable customer relations true c) Marketing emphasizes selling and advertising exclusively d) Marketing involves satisfying customer needs e) Mareeting is building value laden exchange relationships with customers

End goal of clearly defining the problem

Which statement is a characteristic of casual relationships

Income

Marriott holidays offer a premium membership to especially wealthy customers that pay for the premium membership are offered various discounts at selected luxury hotels worldwide> marriott holidays likely follows an segmentation approach

Problem Recognition

Michelle is a purchasing manager in a texas based manufacturing company The company sources most of the materials needed from karata co however michelle is unhappy with karata prices. Additionally she thinks that the quality of the raw materials supplied by karata is substandard which of the following stages in the business buying process is michelle's company currently in

Opinion leader

Robert is always up to date with the latest fashion trends and likes to share his knowledge about where to get good deals with his friends and colleagues. Most of his friends allow his tips. Robert displays the image of an ___

Marketing Information System

The market researchers at watermelon foods gather daily sales data and sort it by product line and region. With the help of sophisticated tools and techniques, they develop the data needed by marketing managers to evaluate the market share of the company's different products and also to gain valuable market insights. This mix of people and procedures at watermelon foods that generate actionable marketing insights represents a()n)

shopping

Cindy Hu wants to replace her old washing machines with a new one in order to get the maximum value for her money, she plans to spend substantial time and effort in gathering information and making product comparisons before making the actual purchase in this instance cindy is planning to buy an ___ product

Internal databases

Evelynn Welsh is one of the senior marketing managers at Apple. She is currently researching Apple's electronic collections of consumer info within the company network. She plan to use the insight from this datasource in her decision making in this case evelynn is using

By Meeting with people in one of their 190 investor centers and traditional marketing avenues

Our Guest speaker Justin Bremer from Fidelity described their strategy of marketing to individual investors. How does fidelity market to individual investors

Modified rebuy

Recently he called in a department manager to assist in the purchase of some heavy machinery after consulting the department manager. Tim is considering a change in product specifications and characteristics and expects suppliers to meet his requirements. Which of the following is evident here