Mod 140 Theory Review 1 of 2

Needs and wants and an ability and willingness to buy

A market is people or organizations that have:

Producer

A particular segment of the business market includes those individuals and organizations that purchase goods and services for the purpose of making a profit. They achieve this goal by using purchased goods and services to make other goods, to become part of other goods, or to facilitate the daily operations of the organization. This group is called the _____ segment of the business market.

Marktet

A _____ is a group of people or organizations that has wants and needs that can be satisfied by particular product categories, has the ability to purchase these products, and is willing to exchange resources for the products.

Type of strategic alliance commonly found in Japan

A keiretsu is a(n):

Synergistic

A true marketing decision support systems (DSS) possesses all of the following characteristics EXCEPT:

Market Segment

A(n) _____ is a subgroup of individuals or organizations sharing one or more characteristics that cause them to have relatively similar product needs.

Want

A(n) _____ is a way a consumer goes about addressing a need.

Marketing Decision Support System

A(n) _____ is an interactive, flexible computerized information system that enables managers to obtain and manipulate information as they are making decisions.

Managers can give simple instructions and see immediate results

According to the text, a true marketing decision support system should be interactive, which means:

Original Equipment Manufacturers

According to the text, another commonly used name for producers is:

External Stimuli

As a result of hearing the adventures of returning soldiers, Monroe decided to enlist in the U.S. Army. These stories he heard from the soldiers acted as:

Producer

Corn refiners buy shelled corn and convert it into a variety of products, including high fructose corn syrup. The refiners then sell the syrup to soda and food product companies for use in foods and beverages. The corn refiners represent the _____ sector of the business market.

Companies that have growing sales

Ed Rodney works for the state of Minnesota as a advocate of state growth and development. He devises ways to encourage businesses to relocate to the state. In other words, Rodney is involved in business marketing. He is compiling a list of potential businesses that might be willing to move their operations to Minnesota. Which of the following possible clients should he include in his list?

Marketing information

Everyday information about developments in the marketing environment that managers use to prepare and adjust marketing plans is referred to as:

Expectant Mom

The Belly Cast kit by Proud Body helps an expectant mom to make a cast of her pregnant body, decorate it and keep it for a lifetime. The primary market segment for the Belly Cast kit is:

Market Segmentation

Ford Motor Company produces passenger cars, commercial trucks and specialty vehicles, performance vehicles, and race cars. Ford uses a procedure called _____ to divide its large market.

External

Rod saw a television commercial for a Honda S2000 and wants to test drive one. The commercial is an example of a(n) _____ stimulus.

A Headache

Which of the following is the BEST example of an internal stimulus that would create need recognition?

Database Marketing

_____ is the creation of a large computerized file of customers' and potential customers' names, profiles, and purchase patterns.

Satisfy a Want

she was offered coffee and refused. She only wanted a Diet Coke. This illustrates that Lisa needs Diet Coke to: