Upgrade to remove ads
Only $35.99/year

KHOP exam 1 practice questions

Terms in this set (28)

A state of deprivation describes
needs
Dividing a market into several sections of customers is known as ________.
market segmentation
The final step of the marketing process is
capturing value from customers
The marketing concept is a customer-centered, sense and respond philosophy
true
The societal marketing concept holds that_______
a company's marketing decisions should focus on creating economic value in a way that also creates value for the surrounding environment
Which of the following is a difference between the marketing concept and the selling concept
the marketing concept focuses on customer needs, whereas the selling concept focuses on existing products
The company's customer value delivery network does not include members external to the organization
false
An SBU can be a company division or a product line within a division, but not a single product or brand.
false
Both market penetration strategies and market development primarily involve______
selling company's current products
In the BCG growth-share matrix, question marks refer to products or businesses with a _______
low market share in a market with high growth prospects
In the marketing mix, product refers to activities that communicate the merits of a product and persuade target customers to buy it
False
Which of the following best describes product positioning?
arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target customers
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
People's orientation to their society does not impact their consumption patterns and attitudes towards the marketplace
false
The most important actors in a company's microenvironment are its competitors
false
Which of the following represents change in the technological environment of a marketing firm?
Increased use of RFID systems to track products
Which of the following is most likely financial public?
stockholder
Although internal databases can be accessed more quickly and cheaply than other information sources, one of the challenges of internal databases is ________
keeping the database current
CRM analysts us big data and marketing analytics to unearth patterns in customer data
true
_________ is the final step in the marketing research process
interpreting and reporting the findings
When managers pull information from their company's accounting and sales record stored in the company computer system, they are using an internal database
true
Which of the following is true of a good marketing information system?
It balances the information that a firm would like to have against what they really need
According to Maslow's hierarchy of needs, which of the following is most likely an esteem need?
status
______ is the degree to which an innovation may be tried on a limited bases
divisibility
Which of the following statements about buying centers is true?
The buying center is not a fixed or formally identified unit within a buying organization.
Which of the following is the first stage of the buyer decision process?
need recognition
A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a(n) ________.
straight rebuy
Business-to-business e-procurement lowers purchasing costs and reduces the time between order and delivery.
true
Students also viewed