Marketing Management - Test 1

Jorie was looking for historical information on urban populations, so he used an online, or ________, database. compendium cloud internet cache archive databank

Cloud

The choice of generic strategy is usually driven by resource capabilities of the firm, as well as the human resources customer infrastructure culture of the company competitive landscape

Competitive Landscape

Customer relationship management (CRM) is considered critical largely because of revised government regulations. increasing demand by customers. competitive pressures in the marketplace. internal pressure by employees. external pressure by suppliers and vendors.

Competitive Pressures in the Marketplace

Which element helps avoid scrambling to decide how to adjust marketing strategies when performance against a forecast is higher or lower than expected? marketing metrics core competencies product development strategies support activities contingency plans

Contingency Plans

CRM helps in determining which customers to target based on known or learned characteristics that will drive growth. This describes which of the three CRM objectives? customer profitability customer acquisition marketing analysis customer retention customer management

Customer Acquisition

Data collected specifically for the research question under consideration is called ________ data. primary research secondary optimal designed

Primary

Judith bought a new Coach purse for herself as a birthday present. She had never spent that much on a purse, but decided it was worth it because she would look so chic when she used it. This demonstrates how a customer's perception of ________ can influence buying behavior. utility competition place value exchange

Value

A marketing manager is interested in the relationship between the location of their stores and the level of sales. To test whether moving a store will lead to a change in sales and, if so, how much of a change, the marketing manager should use ________ research. exploratory descriptive academic causal random

Causal

A company wants to create an association between two stimuli: marketing information and purchase decisions. The company is relying on operant conditioning. classical conditioning. cognitive association. organizational learning. cognitive affiliation.

Classical Conditioning

Many companies are using popular songs from the 1960s and 1970s in their advertising. When individuals, particularly baby boomers, hear that music, it connects them with positive memories and the product and brand being advertised. This demonstrates information search. classical conditioning. cognitive learning. operant learning. information seeking.

Classical Conditioning

Which major objective of customer relationship management relates to increased individual customer margins, while offering the right products at the right time? customer loyalty customer acquisition customer service customer profitability customer retention

Customer Profitability

Using Miles and Snow's strategic types, which type would be exhibited by a firm that focuses on protecting its market with a limited product line? analyzer prospector defender reactor creator

Defender

________ indicates the amount of interpersonal contact an individual has with a reference group. Group connection Involvement Degree of affiliation Degree of commitment Group commitment

Degree of Affiliation

To remain competitive, firms collect intelligence on a number of external factors. Information related to population change is referred to as ________ information. ethnographic demographic logistics probability method

Demographic

The recent controversy over the age of Chinese Olympic divers because of differing ages on their passports and in government files exemplifies the difficulty with the ________ of secondary data in global markets. extendibility dependability accessibility compatibility comparability

Dependability

When VHS tapes became unpopular, retail stores no longer ordered them from suppliers, who no longer ordered them from manufacturers, who ceased to make them, and the stores instead ordered the more popular DVDs. This illustrates how ________ demand impacts the supply chain. latent derived psychological fluctuating inelastic

Derived

A SWOT analysis for an airline would identify the possibility of acquiring a competitor under external opportunities. internal strengths. external threats. internal weaknesses. internal opportunities.

External Opportunities

The primary difference between selling to the profit-oriented market and the nonprofit market is that nonprofits have a more rational decision process. place more emphasis on their business goals than performance specifications. entail purchase decisions that often include an emotional component to them. generally opt for a new purchase rather than a straight or modified rebuy. have a limited number of resources compared to their for-profit counterparts.

Have a limited number of resources compared to their for-profit counterparts

Laurie is an avid consumer of conservative news and never watches a program that conflicts with her beliefs. Susan watches both liberal and conservative outlets in order to know all the facts and opinions before forming her own. Compared to Laurie, Susan is engaged in low-involvement learning. cognitive dissonance. high-involvement learning. minimal learning. limited information involvement.

High-involvement Learning

As the marketing manager of a tire company, you are interested in assessing whether it is possible to decrease the amount of time between customers' tire replacement services and whether it is possible to increase average transaction amounts through add-on sales. To assess customer satisfaction with current services, you decide to consult your CRM system to ________ customer orders. determine the cost of identify the frequency and size of rank track company delivery of calculate the efficiency of

Identify the Frequency and Size of

A company is conducting an online focus group to learn more about the nutritional habits of senior citizens and the underlying causes of these behaviors. They are having problems because many of the members of their target market do not own computers. Which disadvantage of online focus groups does this scenario illustrate? qualification family issues environmental control limited access identity verification

Limited Access

Jorey completed his mission statement for his marketing plan and has written down company goals; now he is focusing on his business's ________, or how he will be able to attain these goals in specific, measurable ways. vision strategy metrics objectives executive summary

Objectives

Doreen is creating a survey for her company. The question she is currently working on asks her business-to-business customers to describe the ideal purchasing transaction. Doreen is utilizing a(n) ________ question. census observational statistical open-ended closed-ended

Open-ended

Having too many internal metrics puts the focus on what a company already knows and fails to focus on the unpredictably dynamic external marketplace. Which pitfall of marketing dashboards does this represent? tools to increase effort in both production and distribution forgetting to market the dashboard externally overreliance on outside-in measurement overreliance on inside-out measurement too much strategic insight; not enough tactical metrics

Overreliance on inside-out measurement

Automobile manufacturers must comply with regulations set by the National Transportation and Safety Board. In the context of situation analysis, which macro-level external environmental factor does this exemplify? political, legal, and ethical sociocultural/demographic firm structure and systems threat of new entrants firm resources

Political, Legal, and Ethical

The National Do Not Call Registry is an example of how the ________ environment affects marketing. competitive political/legal cultural economic natural world

Political/Legal

Which element in the marketing plan is such a common mistake that it is nearly synonymous with poor marketing planning? being strategic but not tactical poor implementation of action plans becoming paralyzed by information and analysis not being flexible not allowing for risk-taking and creativity

Poor Implementation of Action Plans

________ is an offshoot of ROMI that was developed to apply the same principles to customers. ROIC COBI ROCI ROBI ROPI

ROCI

According to the 2020 U.S. Census, the American population is much more multiracial, and more racially and ethnically diverse than ever before. In the context of situation analysis, under which macro-level external environmental factor will this be included? natural factors technological advancements legal and ethical issues firm structure and systems sociocultural/demographic factors

Sociocultural/Demographic Factors

Jonathon was tasked with several marketing research problems, so he decided to access relevant information in relational databases and in company spreadsheets. Jonathon was using ________ data to aid in decision making. structured formulaic qualitative unstructured subjective

Structured

A beer manufacturer noticed that the cost of hops increased four times in the last year. A description of this would be found in the ________ section of the SWOT analysis. operations opportunities strengths threats weaknesses

Threats

The fifth V that characterizes Big Data is ________, without which there is limited justification for its expense. velocity variety veracity value volume

Value

________ are the marketing activities that affect the consumer decision process. Value proposition, distribution, and marketing communications Distribution, technology, and promotion Culture, society, and technology Marketing communications, technology, and politics Value proposition, technology, and segmentation

Value proposition, distribution, and marketing communications

When police are investigating a crime, they use video from posted cameras, verbal accounts from eyewitnesses, text from social media, and video and audio from police officers' body cameras. What characteristic of Big Data is BEST represented here? voice variety veracity velocity value

Variety

Everett is a fan of using Big Data because of its ability to generate a large amount of data that can be organized and quantified. Everett likes the ________ characteristic of Big Data. veracity volume value velocity variety

Volume

Good market research will develop answers to fit an already decided outcome. not enhance the validity of information. be impartial. happen by accident. be subjective.

Be Impartial

Which e-procurement method occurs when companies set up direct links to approved suppliers for purchases? a business function site an extranet a company buying site an industry purchasing site an intranet

An Extranet

The process cycle for CRM begins with knowledge discovery, and ends with marketing planning. analysis and refinement. customer interaction. data mining. customer trust.

Analysis and Refinement

Which element is least likely to be a critical characteristic of post-purchase assessment? anxiety use/nonuse disposal dissonance satisfaction/dissatisfaction

Anxiety

Which statement is true about B2B marketing? Technology is the most important tool in the quality of customer relationships in B2B marketing. A B2B selling situation requires fewer resources to maintain contact with the customer than does B2C. B2B marketing requires a more personal relationship with the customer than does B2C. The B2B market has more customers that buy in smaller, less frequent quantities than B2C. B2B marketing channels are more complex than B2C.

B2B marketing requires a more personal relationship with the customer than does B2C.