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MKTG review questions
Terms in this set (25)
What is the business orientation that looks at financial profit, the community the organization operates in, and creating sustainable business practices?
Triple bottom line
What are you purchasing when you go to salon to get a haircut?
Having vending machines in convenient locations on campus is an example of which element in the marketing mix?
Which utility is the benefit of making products available where customers want them?
When Starbucks asks customers to doodle on their Starbucks cups and submit pictures as entries for a chance to create a template for a new limited edition Starbucks cup, customers were creating what?
customer generated content
What are the elements of the marketing mix?
Price, Product, Place, Promotion
What is the phenomenon of marketing of goods and services from one organization to another called?
Buisness to business marketing
A company adhering to the marketing concept will likely conduct research to determine if its customers were dissatisfied with its product. TRUE of FALSE.
Buying power coupled with the needs to make a purchase is the definition of what?
A ___________ is a distinctive group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in a large market.
In February 2000, the United States imposed a ta on imported steel in an effort to protect about 5,000 U.S. jobs. Another name for this levied tax is a __________.
A type of trade in which goods are paid with other items instead of cash is what?
The WTO (World Trade Organizations) sets trade rules for its member nations and mediates disputes between nations. TRUE or FALSE.
NAFTA is an example of an___________.
The most commonly used measure of a country's economic health is the country's what?
gross domestic product (GDP)
Data such as which customers buy which products, which items the company has in stock, and when the company ships items to its customer are all examples of which type of company data?
Internal company data
Effective objectives should have which characteristics?
What is the management decision process that matches the organization's resources and capabilities to its market opportunities for long-term growth?
When General Mills urged consumers to lower their cholesterol by eating cheerios twice a day, the aim was to increase usage among current customers. Which growth strategy did General Mills use?
If Tim Hortons opens a new store location in Australia. Which growth strategy are they using?
If Apple starts selling a new line of products called the i-desk marketed towards iPad owners, which growth strategy would they be using?
product service + development
What are the 4 steps of market planning?
Analysis, objective, strategy, implementation
Small groups in which participants discuss what types of food, retail, and other services they wanted to see in a new airport are examples of what type of exploratory research?
Data that have been collected for some other purpose than to answer the question at hand are called what?
What kind of research do marketers use when they want to determine if a change in one thing is responsible for a change in something else?
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