Intro to Marketing
The four Ps are commonly known as:
the marketing mix or controllable factors.
The entertainment industry in the United States is dominated by Viacom, Disney, and Time Warner. These Companies operate in what type of market?
Oligopoly
The primary sources of external information are (1)_____________; (2) public sources; and (3) marketer-dominated sources.
Personal sources
An organization that focuses its efforts on (1) continuiosly collecting information about customers' needs and competitors' capabilities, (2) sharing this information across departments, and (3) using the information to create customer value is said to:
have a market orientation.
The study of consumer ___________ helps marketers understand why people choose one brand over another and how they make these choices.
Behavior
Firm A continues to manufacture cassettes. It is a small market that has little growth, but firm A's audio cassettes have the largest market share. They are an example of a _______________?
Cash Cow
"Help people around the world save money and live better - anytime and anywhere" is a statement of Walmart's:
Customer Value Proposition
Describing a population according to selected characteristics such as age, gender, ethnicity, income, and occupation is referred to as:
Demographics
What is the process of continually acquiring information on events occurring outside the organization, to identify and interpret potential trends called?
Environmental Scanning
In recent ratings (the above figure) from independent rating agencies for selected smartphone brands and models, a number of factors are listed, such as price, display, audio quality, text messaging, web capability, and camera quality.
Evaluation Criteria
The market leader for a ____________________ product must make special efforts to avoid stock-out situations so that buyers don't substitute a competing brand.
Low-involvement
When an organization is carefully monitoring the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm it most likely has a __________________ goal.
Market Share
What is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions?
Marketing Research.
When applying the diversification analysis technique, market development refers to the marketing strategy of:
Selling current products to new markets
In BCG's business portfolio analysis, ______________ may need extra cash to finance their own rapid future growth.
Stars
Which of the two SWOT elements are considered mostly external and which are considered mostly internal?
Strengths and Weaknesses are internal / Opportunities and Threats are external
3D printing and on-demand capabilities are increasing domestic manufacturing. This is an example of a _________ force that can affect any firm:
Technological
The luxury leisure firm Cunard is more likely to benefit when:
consumers' discretionary income increases
The American Marketing Association definition shows that marketing is far more than simply advertising or personal selling. It stresses the need to:
deliver genuine value in the offerings of goods, services, and ideas marketed to customers.
As a situational influence, antecedent states include:
the amount of cash on hand