Marketing Test 1 (chapters 1-5)

The marketing department of a reputable firm wants to improve strategic decision making, track the actions of other players in the market, and provide early warning of opportunities and threats. Which of the following would help the firm achieve its objectives?

Competitive Marketing Intelligence

Market segmentation can be best described as the process of

Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate marketing programs

While looking for ideas on how to craft a user-friendly dishwasher, the designers of a dishwasher- manufacturing company spent 10 days observing people as they used their dishwashers in their homes. In this instance, the designers were conducting _____________

Ethnographic research

Customer relationship management (CRM) helps________________

Firms manage customer touch points to maximize customer loyalty

Information in a company's database can come from many sources. An advantage of harnessing such information is to

Gain a competitive advantage

Which of the following situations is expected to enhance the use of targeted advertising messages by marketers?

Increase in ethnic populations

Marketers can group people in a number of ways, including by birth date. However, the following combination of groups has proven to be more effective:

Lifestyle, life stage, common values they seek in products they buy

Sam has been directed to the study the demographic, economic, political, and cultural forces that affect an organization. In this instance, Sam has been directed to study the ________ of the organization.

Macroenvironment

An organic farmer has identified three distinct groups that might be interested in his products: vegetarians, health-conscious individuals, and people identified as trendsetters who try out new products in the market before others. These three groups are examples of

Market Segments

The market researchers at HoneyCamp 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 HoneyCamp Foods that generate actionable marketing insights represents a

Marketing Information System

The set of marketing tools a firm uses to implement its marketing strategy is called:

Marketing Mix

Dan has been directed to study the forces close to a company that affect its ability to serve its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. In this instance, Dan has been directed to study the _______ of the company.

Microenvironment

Alpha Motors offers "Green automobiles for a greener world." This refers to the __________ of Alpha automobiles.

Position

Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook which philosophy?

Societal Marketing Concept

Cathy's Clothes is a small yet successful retail chain that sells women's clothing and accessories with a focus on buyers who have relatively modest means. For this specific purpose, the firm has rolled out several marketing initiatives aimed at women of a specific demographic. This is an example of

Target Marketing

Which of the following is true with regard to strategic planning?

The focus of strategic planning is to define a game plan for long-run survival and growth

The network made up of the company, its suppliers, its distributors, and, customers who partner with each other to improve the performance of the entire system is known as

Value Delivery Network

Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs

Value Proposition

The best business portfolio is the one that:

best fits the company's strengths and weaknesses to opportunities in the environment

Trends in the natural environment include all of the following except

decreased costs of product development