Marketing Midterm

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Harris, the marketing manager at a small sports retail chain, has conducted amarketing analysis. He has investigated the company's internal resources and situational factors, as well as factors and trends in teh competitive sports retail chain market. What has Harris completed?

a SWOT analysis

What most accurately identifies a difference between a weakness and a threat?

A company is more able to change a weakness than a threat

Saturn is "a different kind of company, different kind of car"; the Hummer is "like nothing else." These statements reflect a firm's __________.

Market positioning

For Hyundai Corporation, customers who care about the price of acar and its operating economy make up one ______.

Market segment

Kimball Gardens is a company that operates as two distinct businesses: one that sells lawn and garden products and one that markets booklets. Each business is called a _______.

Strategic business unit (SBU)

In the marketing management functions, a SWOT analysis should ______ a marketing plan.

Precede

Which of the following is the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors?

Market segmentation

Which of the following is the marketing logic by which a company hopes to achieve profitable customer relationships?

Marketing strategy

Multinationals like Honda Motor Co. and Wal-Mart stores have designed programs to work closely with their suppliers to help them reduce their costs and improve quality. This illustrates the importance of an efficient ________.

Value delivery network

Each department in a company that carries out value-creating activities can be throught of as a link in the company's _________.

Value chain

Which of hte following entails reducing the business portfolio by eliminating products that no longer fit the company's overall strategy?

Downsizing

Starbucks Coffee has rececntly begun selling and playing compilation CDs and is supporting its own XM satelite radio station. This represents which strategy for growth?

Diversification

A common practice among marketers is to identify and develop new markets for their existing products. This practice is called ________.

Market development

Marketing more sales to current customers without changing a firm's products is _______.

Market penetration

Starbucks has introducted a debit card that lets customers prepay for coffee and snacks. This effort by Starbucks management is an example of _______.

Diversification

Which department in a company carries the primary responsibility for achieving profitable growth?

Marketing

The collection of businesses and products that make up a company is called its _______.

Business portfolio

Which of the following is the first step in strategic planning?

Define the company mission

Which of the following involves adapting a firm to take advantage of opportunities in its constantly changing environment?

Strategic planning

Assume that you are a manager at a firm that has hired lobbyists to influence legislation affecting your firm's industry to its advantage. Your firm takes a ______ approach to the marketing environment.

Proactive

As indicated in the chapter opener, change in the _______ environment has had the most impact on the marketing strategy at Xerox.

Technological

Wholesome Soups, a maker of organic soups, is starting a new marketing campaign emphasizing the ease of preparing and eating Wholesome Soups on the go. Print, television, and Internet ads feature college-aged students enjoying WHolesome Soups in between classes and during study breaks. Wholesome Soups' new marketing campaign is most likely aimed at which of the following?

Millennials

Which of hte following best explains why Gen Xers as a group may be more economically cautious than baby boomers?

Gen Xers grew up during times of corporate downsizing and recession.

If baby boomers are predictors of where product and service demand will be, increased demands will most likely be evident in _______ in the upcoming years.

Financial services

You are directed to study the actors close to the company that affect its ability to servie its customers-departments within the company, suppliers, marketing intermediaries, customer marketa, competitors, and publics. What are you studying?

The microenvironment

Which of the following terms is used to decribe the factors and forces outside marketing that affect marketing management's ability to build and maintain successful relationship with target customers?

The marketing environment

You are directed to study the demographic, economic, natural, technological, political, and cultural factors that are larger societal forces affecting your company. What are you studying?

The macroenvironment

A _______ is defined as any group that has an actual or potential interest in, or impact on, an organization's ability to achieve its objectives.

Public

Rachel Patino works for a wholesale company called Distributors Unlimited. She is responsible for buying and selling goods at a profit to small retailers. What is her market?

Reseller

As a group, _______ are the most affluent Americans.

Baby boomers

Research has shown that the most important demographic trend in the United States is the ________.

Changing age structure of the population

The youngest of the baby boomers are now in their _____.

Mid-40s

Which of the following description most accurately characterizes Gen Xers?

They were the first generation of latchkey kids

Which of the following descriptions most accurately characterize Millennials?

They are children of baby boomers

Which of the following demographic groups has not seen a percentage increase in the past 50 years?

Women staying at home with their children

Over the pat two decades, teh US population has shifted most heavily toward teh ______ states.

Sunbelt

Of the following diversity segments int eh AMerican population, which is currently the largest?

Adults with disabilities

A country with a _______ economy consumes most of its own agricultural and industrial outputs and offers few market opportunities.

Subsistence

Which of hte following is a result of regulations set up by the Food and Drug Administration and the Consumer Product Safety Commission?

Research costs for companies have grown

A society's basic values, perceptions, preferences, and behaviors are all part of its ______ environment.

Cultural

Marketers should understand that a society's core beliefs and values have a high degree of ________.

Persistence

Which of the following explains why few companies have been successful in shutting down critics who post compaints on the web?

The criticism is usually interpreted as protected speech

Which of the following geographical areas has NOT seen a recent population increase?

the Northeast

Which of the following descriptions most accurately characterizes the baby boomers?

They hold 75% of the country's assets

Google and Yahoo! routinely post ads related to a user's keyword searches alongsid ethe searches. This practice is called ________.

Contextual targeting

Behaviorial targeting, the practice of __________, is being used by more and more companies.

Tracking consumers' online movements and using this information to target ads to them

What source of marketing information provides those within the company ready access to research information, stored reports, shared word documents, contact information for employees and other stakeholders, and more?

An intranet

In CRM, findings about customers discovered through _______ techniques often lead to marketing opportunities.

Data mining

A consumer is most likely to be paid a small fee for participating in which of the following?

A focus group interview

Which of the following is a disadvantage of online focus groups?

The internet format can restrict respondents' expressiveness

Marketing researchers usually draw conclusions about large groups of consumers by studying a small ______ of the total consumer population.

Sample

What are teh two main types of research instruments used to collect primary data?

Questionnaires and mechanical devices

In marketing research, the ________ phase is generally the most expensive and most subject to error.

Data collection

Typically, customer information is buried deep in separate databases, plans, and records of many different company functions and departments. To overcome such problems, which of the following should you try?

Customer relationship management

What is the purpose of a data warehouse?

To gather and integrate information a company already has

Information collected from online databases is an example of _____ data.

Secondary

Secondary data consists of information ________.

Used by competitors

Your colleague is confused about using hte marketing research process, as he knows that something is wrong but is not sure of the specific caues to investigate. He seems to be having problems with ______, which is often the hardest step to take.

Defining the problem and research objectives

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

Marketing research

______ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.

Marketing intelligence

Which of the following statements is NOT true regarding information collected for marketers?

Most managers do not need more information; most managers need better information

A marketing information system (MIS) consists of people and procedures to assess information needs, _______, and help decision makers analyze and use the information.

Develop the needed information

Which of the following is an example of a free online database that a company could access in order to develop marketing intelligence?

The US Security and Exchange Commission's database

What is the first step in the marketing research process?

Defining the problem and research objectives

Cameron loves to know about and purchase the most up-to-date technological gadgets. Among his friends, he is almost always the first to own the newest electronic product. Often the products that Cameron buys become adopted by large groups of consumers, but occasionally Cameron will purchase a product that is adopted by only a small portion of the opulation. To which fo the following adopter groups does Cameron belong?

Innovator

Pat thought he had received the best deal on his new car. Shortly after the purchase, Pat started to notice certain disadvantages of his new car as he learned more about other cars available. Pat is experiencing________.

Postpurchase dissonance

Stephanie and Jamal attended a sales seminar. Both left the seminar with differing opinions about what was important to implement in their jobs. Both used the information in different ways, according to what each already believed was important. They have engaged in ________.

Selective distortion

Economic, technological, and cultural forces are all _______ in the stimulus-response model of buyer behavior.

Stimuli

The starting point of understanding a consumer's response to various marketing efforts is the _________ of a buyer's behavior.

Stimulus- response model

Marketing stimuli consist of the four Ps. Which is NOT one of these?

Politics

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

Culture

The marketer wants to understand how the stimuli are changed into responses inside the consumer's ______, which has two parts. First, the buyer's characteristics influence how he or she perceives and reacts to teh stimuli. Second, the buyer's decision process itself affects the buyer's behavior.

Black box

Which fo the following statements is true regarding social class int eh United States?

Social classes show distinct product preferences in clothing and automobiles

Which of the following best explains why a rush of marketers now participate in established online social networks?

Consumers are mroe likely to view peer-to-peer communication as credible

The _______ is the most important consumer buying organization in society; the roles and influences of different members have been researched extensively.

Family

Business buying behavior refer to the buying behavior of organizations that buy all of the following EXCEPT _________.

Products purchased for personal consumption

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