marketing exam 1

What does strategy refer to?

An organization's long term course of action designed to deliver a unique customer experience while achieving its goals

In marketing, the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings are referred to as what?

Business Cultures

In a decision, the restrictions placed on potential solutions to a problem are referred to as what?

Constraints

The actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions, are referred to as what?

Consumer Behavior

Measures of success are?

Criteria or Standards used in evaluating proposed solutions to the problem effective decision makers develop a specific version Different Research outcomes, which are based on MoS, lead to different marketing actions one test of whether if different outcomes will lead to different marketing actions

What are cultural symbols?

Cultural symbols are things that represent ideas and concepts in a specific culture.

The objective and subjective attributes of a brand that consumers use to compare different products and brands are referred to what?

Evaluate Criteria

The three main types of marketing research are?

Exploratory Descriptive Casual

A brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs is referred to as a what?

Global Brand

What is the name of a firm that reprocesses a product or service it buys before selling the product again to the next buyer?

Industrial Firms

Organizations that develop similar offerings, when grouped together, create a what?

Industry

Copyrights, trademarks, and patents are what, so unauthorized use is illegal?

Intellectual Property that is protected by government

Among organizational markets, the reseller market includes what?

Intermediaries (wholesalers/retailers) who buy finished goods and resell them to final consumers for a profit

Scanning your memory for previous experiences with products or brands occurs during which stage of the consumer purchase decision process?

Internal Search

What department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations?

Marketing Department

What is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions?

Marketing Research

What is marketing?

Marketing: The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

What is a good, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants?

Offerings/Products

What is a legal entity that consists of people who share a common mission?

Organization

The objective attributes of the supplier's products and services and the capabilities of the supplier itself are collectively referred to as what?

Organizational Buying Criteria

The change in the growth of the world's population is called what?

Population Explosion

The fourth stage in the consumer purchase decision process includes deciding from whom to buy and when to buy. What is this stage called?

Purchase Decision

Who starts new ventures that address important social needs and issues. These new enterprises are often organized as nonprofit organizations.

Social Entrepreneur

What does laws refer to?

Society's values and standards that are enforceable in the courts.

Supplier development refers to what?

Supplier development represents any activity or effort on the part of the buying firm to improve the performance of key supply chain members involves the deliberate effort by organizational buyers to build relationships that shape suppliers products, services, and capabilities to fit a buyers needs and that of its customers

In response to a growing interest in healthful, simple products among consumers, Chobani introduced what?

The Chobani Flip- Greek Style Yogurt

The Economic Espionage Act is what?

The clandestine collection of trade secrets or proprietary information about a company's competition. Make the theft of trade secrets by foreign entities a federal crime in the US.

What does demographics refer to?

The description of a population according to selected characteristics such as age, gender, ethnicity, income, and occupation

What does culture refer to?

The set of values, ideas and attitudes that are learned and shared among the members of a group.

What is the name for the complementary nature of economic flows internationally, whereby imports stimulate exports and vice versa?

The trade feedback effect

What does the idea of exchange refer to in marketing?

The trade of things between a buyer and a seller so that each is better off after the trade.

3. Marketing refers to what?

Winners and Losers

What does a decision refer to?

a cognitive process resulting in the selection of a course of action among several alternative possibilities a conscious choice from among two or more alternatives.

What kind of search is for information is needed when past experience or knowledge is insufficient, the risk of making a wrong purchase decision is high, and the cost of gathering information is low?

external Search

Generally, what is happening to the U.S. population?

larger, older and more diverse

Derived demand refers to what?

means that the demand for industrial products or services is driven by demand for consumer products and services the linkage between consumers' demand for a company's output and its purchase of necessary inputs to manufacture or assemble that particular output

What is ethics?

the moral principles and values that govern the actions and decisions of an individual or group.

What is environmental scanning?

the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends.

Facebook has approximately what fraction of the world's population as customers?

1/5

How many members in the European Union is an economic and political?

28 countries in European Union