Marketing Strategy- Quiz 1 & 2

________ indicates the amount of interpersonal contact an individual has with the reference group.

Degree of affiliation

________ is an offshoot of ROMI that was developed to apply the same principles to customers.

ROCI

In the business market purchase decision process, new buys will include _________ step(s) in the process.

all of the

All of these are critical characteristics of post-purchase assessment EXCEPT ________.

anxiety

Many companies are using popular songs from the 1960s and 1970s in their advertising. When individuals, particularly baby boomers, hear that music it connects them with positive memories and the product and brand being advertised. This demonstrates ________.

classical conditioning

CRM helps in determining which customers to target based on known or learned characteristics that will drive growth. This describes which of the three CRM objectives?

customer acquisition

To remain competitive, firms collect intelligence on a number of external factors. Information related to population change is referred to as ________ information.

demographic

It is important to remember that a marketing plan should be able to change as customers change, competitors develop new products, or there is a change in the external environment. In other words, a marketing plan should be ________ to be successful.

flexible

Fun Time Corp. has decided to move production of its board games for children and adults from the United States to Mexico to realize cost savings. At the same time, the company has decided to make Spanish-language versions of the games and distribute them in Central and South America. Most likely Fun Time is pursuing a strategy of ________.

growth/concentration based on horizontal integration

As the marketing manager of Tiny Tire Company, you are interested in assessing whether it is possible to decrease the amount of time between customers' tire replacement services and also whether it is possible to increase average transaction amounts through add-on sales. To assess customer satisfaction with current services, you decide to consult your CRM system to ________ customer orders.

identify the frequency and size of

The B2B customer buying process is ________ than the consumer purchase decision process because it takes longer and involves more people, making the seller's job more challenging.

more complex

Jeffie completed his mission statement for his marketing plan and has written down company goals; now he is focusing on his business's ________, or how he will be able to attain these goals in specific, measurable ways.

objectives

Having too many internal metrics puts the focus on what a company already knows and fails to put the focus on the unpredictably dynamic external marketplace. Which pitfall of marketing dashboards does this represent?

overreliance on inside-out measurement

The National Do Not Call Registry is an example of how the ________ environment affects marketing.

political/legal

Data collected specifically for the research question under consideration is called ________ data.

primary

The choice of generic strategy is usually driven by ________ capabilities of the firm, as well as the ________.

resource; competitive landscape

What country spends the most on market research?

the United States

A beer manufacturer has noticed that the cost of hops has increased four times in the last year. A description of this would be found in the ________ section of the SWOT analysis.

threats

When a sales representative calls on a customer, or a call comes in to the customer service center, these are called customer ________.

touchpoints

When the Chicago police are investigating a crime, they use video from posted cameras, verbal accounts from eyewitnesses, text from social media, and video and audio from police officers' body cameras. What feature of Big Data is BEST represented here?

variety