Exam I practice
A company's mission statement should be focused on
customers
Compared to the mainstream buying public, Hispanic consumers tend to be deeply __________ oriented, making this a special characteristic and behavior.
family
A(n) __________ stance by companies toward the marketing environment is preferred over a reactive stance.
proactive
Consumer motivation, perception, and learning are related to the __________ factors influencing consumer behavior.
psychological
The Apple Watch's "always on" display is made possible through advancements that produced Apple's low-temperature polysilicon and oxide display (LTPO). This particular development occurred in the ______________ force of the macroenvironment.
technological
The __________ environment is the most dramatic force shaping the destiny of the markets and marketing.
technological
Many companies view the marketing environment as a(n) __________ element to which they must react and adapt.
uncontrollable
Each department can be thought of as a link in the company's
value chain
Consumer purchases are influenced strongly by certain characteristics which include all of the following
Social, psychological, cultural, personal
The microenvironment consists of all of the following EXCEPT
demographics
Business legislation has been enacted for a number of reasons which include all of the following except __________.
developing a code of ethics
The most common form of marketing organization is
functional organization
The major activity in strategic planning is the analyses of a business
portfolio
Kevin Kern described Konica/Minolta's use of commercials, newspapers, social media, and other media to control the marketing message. Which marketing concept was he referring to?
marketing mix
The __________ environment consists of economic factors that affect consumer purchasing power and spending patterns.
economic
plays a key role in the company's strategic planning
Market targeting
The first step in strategic planning involves
defining the company's mission
IMG World's products and services are geared toward colleges and students, the students of which may be considered young achievers. This designation can be best described as which influential factor of consumer buying behavior?
Age and life stages
According to the stimulus-response model of buyer behavior, marketing and other stimuli enter the consumer's __________ and produce certain responses. I
Black box
It can be supposed that an increase in the importance of fitness and wellness in people's lives prompted Apple to include features like the built-in compass and always-on workout apps. That increased importance in fitness is part of the __________________ societal force.
Cultural
The most basic determinant of a person's wants and behavior are embedded in a consumers __________.
Culture
behavior occurs when consumers are highly involved with an expensive, infrequent, or risky purchase but see little difference among brands.
Dissonance-reducing buying
Which of the following is the best example of Apple appealing to a trend in the demographic environment?
Fall detection and emergency SOS for the aging Baby Boomer population
Prior to changing its product offerings and realigning its business units, managers at Konica/Minolta most likely first performed which of the following to determine those units that were profitable and those that should be phased out or realigned?
Perform a portfolio analysis.
Under the previous CEO, Konica/Minolta's management determined it was time to invest in by offering new products to the technology market.
Product development
are distribution channel firms that help the company find customers or make sales for them.
Resellers
In the product adoption process
There are 5 stages
When does the habitual buying behavior occur?
Under conditions of low-consumer involvement and little significant brand difference
The __________ environment consists of institutions and other forces that affect a society's basic values.
cultural
Students purchasing items with the college logo most likely represent consumers involved in which type of buying behavior?
habitual
IMG World provides college students with new, relevant media, making which stage of the consumer buyer behavior process easier for the consumer?
information search
The first group marketers try to bring their new products to the attention to are potential __________.
innovators
Within the growth-share matrix, "cash cows" are
low-growth, high-share businesses or products
The Apple Watch Series 5 was developed with an awareness of current trends in the large societal forces known as _________________.
macroenvironment
Konica/Minolta focuses one of its business units on medical and healthcare groups. These groups make up one of Konica/Minolta's
market segment
Shortages of certain raw materials is a major trend related to the __________ environment.
natural
A popular football player at a college who is able to influence the buying decisions of fans would best be described as a(n) __________.
opinion leader influence
In SWOT analysis, the favorable factors or trends in the external environment that the company may be able to exploit to its advantage are referred to as
opportunities
refers to activities that communicate the merits of the product and persuade target customers to buy it.
promotion
plays a key role in the company's strategic planning.
Marketing
The "echo boomers" is another name for __________.
Millennials
Which of the following is the technological trend most likely considered in the development of the new Apple Watch?
Increasingly efficient apps, features, and components that consume less energy stored in batteries.
Konica/Minolta hopes to create customer value through its mission, strategic goals and objectives, marketing mix, and other marketing tools. This collective effort is known as Konica/Minolta's
marketing strategy