SCM Test 2

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What is the correct sequence of the four steps of the marketing research​ process?

Define the problem and research​ objectives, develop the research​ plan, implement the research​ plan, interpret and report the findings

Which of the following statements regarding the business market is​ correct?

Many sets of business purchases are made for one set of consumer purchases.

​________ is the process of dividing a market into distinct groups of buyers who have different​ needs, characteristics, or​ behaviors, and who might require separate marketing strategies or mixes.

Market segmentation

Which of the following correctly identifies the five core customer and marketplace​ concepts?

Needs, Wants, and Demands; market offerings; value satisfaction; exchanges and relationships; and markets

What are the eight steps in the business buying decision​ process, in the correct​ sequence?

Problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, and performance review

A company rarely gets 100 percent of a​ customer's purchases for a product category. The share it does get of the​ customer's purchasing in its product categories is called​ ________.

Share of customer

Which of the following is an important trend in the natural environment of which marketers should be​ aware?

Shortages of raw materials

What are the two keys to building lasting customer​ relationships?

Superior customer value and satisfaction

Most standard portfolio analysis methods evaluate strategic business units​ (SBUs) on their performance in two important dimensions. What are these two​ dimensions?

The attractiveness of the SBU's market or industry and the strength of the SBU's position in that market or industry

Which marketing management orientation holds that a firm should have a customer focus to achieve sales and​ profits?

The marketing concept

​__________________ determines whether the buyer is satisfied or dissatisfied with a purchase.

The relationship between the​ consumer's expectations and the​ product's perceived performance

To design a winning marketing​ strategy, what are the two important questions a marketing manager must​ answer?

What customers will we​ serve? How can we serve these customers​ best?

What advice would you give a firm about how to respond to the changing marketing​ environment?

Whenever​ possible, take a proactive approach to the environment.

Which of the following represent market​ offerings?

Which of the following represent market​ offerings?

Two major public policy and ethical issues in marketing research are​ ________.

intrusions on consumer privacy and misuse of research findings

A​ __________________________ consists of the people and procedures dedicated to assessing information​ needs, developing the needed​ information, and helping decision makers use the information to generate and validate actionable customer and market insights.

marketing information system

The first step of the marketing process is to​ ___________________.

understand the​ marketplace, which includes customer needs and wants

What are the five marketing management functions used to manage the marketing​ process?

​Analysis, planning,​ implementation, organization, and control

What are the five stages of the consumer adoption​ process, in the correct​ sequence?

​Awareness, interest,​ evaluation, trial, and adoption

Which of the following is included in a broad definition of​ marketing?

Creating customer​ value, building customer​ relationships, and engaging customers

Which of the following correctly defines the consumer​ market?

Individuals and households that buy goods and services for personal consumption


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