Marketing Test 1

In the marketing mix, product refers to activities that communicate the merits of a product and persuade customers to buy it. True or false?

False

Internal databases usually are more expense to use than other marketing information sources. True or false?

False

Market offerings are limited to physical products. True or false?

False

Marketing intermediaries supply resources needed by a company to produce its goods and services. True or false?

False

Secondary data consist of information collected for the specific purpose at hand. True or false?

False

_____ is the first step in the marketing research process.

Interpreting and reporting the findings

______ are defined as states of felt deprivation.

Needs

Which of the following best describes a company's business portfolio?

The collection of businesses and products that make up the company

A consumer advocacy group challenges a firms decision to build a new warehouse in a small community. The advocacy group is an example of a ______ public.

citizen-action

________ markets consist of individuals and households that buy goods and services for personal use.

consumer

The two dimensions the BCG approach uses to evaluate and manage SBUs are _____.

market growth rate, relative market share

EcoBean, a chain of cafes, has introduced a Special Shopper Card that allows customers to pay in advance for coffee and snacks. This effort by EcoBean management is most likely an example of ________.

market penetration

demographic, economic, natural, technological, political, and cultural forces form the _____ of an organization.

macroenvironment

A firm's decision to identify and develop new markets for existing products is a ________ strategy.

market development

Experimental research is best suited for gathering ______ information.

Causal

P&G "Tide Loads of Hope" program provides mobile laundromats and kids of clean laundry to families in disaster stricken areas. This is an example of _______ marketing.

Cause-related

The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is referred to as _____.

Customer Relationship Management

Dividing a market into several sections of customers is known as ________.

Market Segmentation

_____ is the art and science of choosing target markets and building profitable relationships with them.

Marketing Management

A _____ is purposeful, specifying what an organization wants to accomplish in the larger environment.

Mission Statement

In a marketers macro environment, the _____ environment consists of laws, government, and pressure groups that influence or limit various organizations and individuals in a given society.

Political

The most common research instrument, whether administered in person, by phone, by email, or online, is the ______.

Questionnaire

__________ are distribution channel firms that help the company find customers or make sales for them.

Resellers

Both market penetration strategies and market development strategies primarily involve ________.

Selling a company's current products

According to the BCG matrix, products and businesses with a high market share in a high-growth market are classified as ______?

Stars

_____ is a method of gathering primary stat that involves asking people questions and about their knowledge, attitudes, preferences, and buying behavior.

Survey Research

In a SWOT analysis, _____ refer to unfavorable external factors or trends that may present challengers to performance.

Threats

A brand's value proposition is the set of benefits or values it promises to deliver to consumers to satisfy their needs. True or false?

True

A market is a segment of potential consumers who share a common need or want. True or false?

True

Each population member has a known chance of being included when a probability sampling procedure is used. True or false?

True

The marketing concept is a consumer-centered, sense-and-respond philosophy. True or false?

True

product, price, place, promotion make up the elements of a firms marketing mix True or False

True

_______ are the form human needs take as they are shaped by culture and individual personality.

Wants

Changes in variables, such as income, cost of living, interest rates, and savings and borrowing patterns most likely reflect changes in the ________ environment of a company.

economic

In most marketing research projects, what type of research is conducted first?

exploratory

A marketing intermediary would most likely help a firm by _____.

moving the firm's goods from production points to distribution centers

________ data consist of information collected for the specific purpose at hand.

primary data

Which of the following sources constitutes the internal database of a company?

the company's sales records

Which of the following best describes the value chain of a company?

the series of departments that design, produce, market, deliver, and support the company's products