SCM Test 2
What is the correct sequence of the four steps of the marketing research process?
Define the problem and research objectives, develop the research plan, implement the research plan, interpret and report the findings
Which of the following statements regarding the business market is correct?
Many sets of business purchases are made for one set of consumer purchases.
________ is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate marketing strategies or mixes.
Market segmentation
Which of the following correctly identifies the five core customer and marketplace concepts?
Needs, Wants, and Demands; market offerings; value satisfaction; exchanges and relationships; and markets
What are the eight steps in the business buying decision process, in the correct sequence?
Problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, and performance review
A company rarely gets 100 percent of a customer's purchases for a product category. The share it does get of the customer's purchasing in its product categories is called ________.
Share of customer
Which of the following is an important trend in the natural environment of which marketers should be aware?
Shortages of raw materials
What are the two keys to building lasting customer relationships?
Superior customer value and satisfaction
Most standard portfolio analysis methods evaluate strategic business units (SBUs) on their performance in two important dimensions. What are these two dimensions?
The attractiveness of the SBU's market or industry and the strength of the SBU's position in that market or industry
Which marketing management orientation holds that a firm should have a customer focus to achieve sales and profits?
The marketing concept
__________________ determines whether the buyer is satisfied or dissatisfied with a purchase.
The relationship between the consumer's expectations and the product's perceived performance
To design a winning marketing strategy, what are the two important questions a marketing manager must answer?
What customers will we serve? How can we serve these customers best?
What advice would you give a firm about how to respond to the changing marketing environment?
Whenever possible, take a proactive approach to the environment.
Which of the following represent market offerings?
Which of the following represent market offerings?
Two major public policy and ethical issues in marketing research are ________.
intrusions on consumer privacy and misuse of research findings
A __________________________ consists of the people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights.
marketing information system
The first step of the marketing process is to ___________________.
understand the marketplace, which includes customer needs and wants
What are the five marketing management functions used to manage the marketing process?
Analysis, planning, implementation, organization, and control
What are the five stages of the consumer adoption process, in the correct sequence?
Awareness, interest, evaluation, trial, and adoption
Which of the following is included in a broad definition of marketing?
Creating customer value, building customer relationships, and engaging customers
Which of the following correctly defines the consumer market?
Individuals and households that buy goods and services for personal consumption
