Marketing

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Business demand that ultimately comes from the demand for consumer goods is known as ________ demand.

Derived

________ is the act of obtaining a desired object from someone by offering something in return.

Exchange

In ________ research, the objective is to gather preliminary information that will help define the problem and suggest hypotheses.

Exploratory

In a SWOT analysis, which of the following would be considered a strength?

Internal capabilities

Which of the following is an advantage of using an internal database?

Internal databases can be accessed more quickly and cheaply than other information sources.

Which of the following statements is true of the production concept?

It leads to companies focusing too narrowly on their own operations.

A(n) ________ is the set of actual and potential buyers of a product or service.

Market

Which of the following is NOT an accurate description of modern marketing?

Marketing emphasizes selling and advertising exclusively.

________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Marketing research

________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others.

Opinion leaders

________ help companies stock and move goods from their points of origin to their destinations.

Physical distribution firms

________ is the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities.

Strategic planning

Which of the following is true of Gen Xers?

They were the first to grow up in the Internet era.

________ are human needs that are shaped by culture and individual personality.

Wants

Hank is an assistant marketing director for a firm in a market with many low-margin customers. What type of relationship with these customers would be the most profitable for him?

basic relationships

Business buyer behavior refers to the ________.

buying behavior of the organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others

The ________ refers to all the individuals and units that play a role in the purchase decision-making process.

buying center

Sanguine Services is a small company that uses a marketing strategy in which its limited resources are employed to target a large share of two small market segments. Sanguine most likely uses which of the following marketing strategies?

concentrated marketing

The buyer decision process consists of five stages. Which of the following is NOT one of these stages?

conspicuous consumption

________ is the most basic determinant of a person's wants and behavior.

culture

"Losing a customer once means losing the entire stream of possible purchases that the customer would make over an extended period of patronage." The above statement specifically indicates loss in terms of ________.

customer lifetime value

Which of the following marketing strategies should marketing managers focus on to manage detailed information about individual customers and carefully manage customer touchpoints to maximize customer loyalty?

customer relationship management

An MIS user should most likely be able to ________.

develop customer insights

Which of the following is NOT a step in the strategic planning process?

evaluating members of the company's value chain

What is the most important consumer buying organization in society?

family

"Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods." This is an example of ________.

geographic segmentation

Maslow's theory is that ________ can be arranged in a hierarchy.

human needs

Even when competing offers look the same, buyers may perceive a difference based on ________ differentiation.

image

Secondary data consist of ________.

information that already exists somewhere, having been collected for another purpose

________ is a person's pattern of living as expressed in his/her psychographics, and it includes the individual's activities, interests, and opinions.

lifestyle

Sam has been directed to 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

FencePro, a local company, has developed an entirely new mounting system for chain link fences. After acquiring a distributor, FencePro now has the ability to market its products nationwide. FencePro is most likely following a ________ strategy.

market development

When marketers at Fair & Leigh Inc. selected the Millennials, a demographic group that includes college students, as an untapped group of potential customers for their new line of products, they were engaging in ________.

market targeting

In a ________ situation, the "in" suppliers may become nervous and feel pressured to put their best foot forward to protect an account and the "out" suppliers may see the present situation as an opportunity to make a better offer and gain new business.

modified rebuy

Which of the following contact methods is the most cost-effective?

online surveys

Which of the following is a marketing stimuli?

price stimuli

A ________ refers to the way a product is defined by consumers on important attributesthe place the product occupies in consumers' minds relative to competing products.

product position

Marketers who use ________ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals.

psychographic segmentation

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. According to the BCG matrix, the pharmaceuticals division of Omni can be classified as a ________.

question mark

According to the Boston Consulting Group approach, ________ serves as a measure of company strength in the market.

relative market share


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