mkt exam 1

Which of the following describes the ultimate user of a good or​ service?

Which of the following terms is defined by the​ activity, set of​ institutions, and processes for​ creating, communicating,​ delivering, and exchanging offerings that have value for​ customers, clients,​ partners, and society at​ large?

A customer's overall assessment of his or her interaction throughout the entire process of finding, buying, and using a product is known as ___

A product can be all of the following, except a(n) ____

____ includes many different activities marketers undertake to inform consumers about their products and to encourage potential customers to buy these products.

__ refers to the availability of the product to the customer at the desired time and location.

Intangible products that are paid for and​ used, but not owned are known as​ _____

The shifting balance from tangible goods to intangible services has marketing leaders adopting​ ________ as a guiding principle.

The​ ________ marketing concept states that marketers must satisfy​ customers' needs in ways that also benefit society while they still deliver a profit to the firm.

If a company states in its advertisements that 10 percent of all profits go to planting trees in various parts of the​ world, that company is engaging in​ ________ marketing.

ROMI stands for​ ________ and indicates how much value an​ organization's marketing activities create.

Suppose that you receive a text message on your phone from one of your favorite online retailers about a 50 percent off sale for the next 24 hours. The company that sent you the text message is engaging in​ ________ marketing.

Companies and their customers working together to develop products that meet customer needs is known as​ ________.

A marketplace offering that fairly and accurately sums up the value that the customer will realize if he or she purchases the product or service is known as​ a(n) ________.

Which of the following is the formula for calculating the lifetime value of a​ customer?

An edge that a firm has over its competitors that allow it to have higher​ sales, higher​ profits, and more customers is known as​ ________.

Coca-Cola is superior to its competitors in its distribution and marketing of products. This is an example of​ a(n) ________ competency.

Suppose a restaurant in a small community offers breakfast options 24 hours a​ day, but none of the competition even offers breakfast options. This would be an example of​ a(n) ________ benefit.

The activities involved in​ designing, producing,​ marketing, delivering, and supporting any product is its​ ________.

The concept that under the right​ circumstances, groups are smarter than the smartest individuals in them is referred to as​ ________.

__ is the process whereby marketers understand an unmet customer​ need, figure out what is missing in the​ market, and step​ "outside the​ box" to displace​ well-established offerings---often to the point of turning existing marketing rules upside down.

A document that describes the marketing​ environment, outlines the marketing objectives and​ strategy, and identifies who will be responsible for carrying out each part of the marketing strategy is known as​ a(n) ________ plan.

If you own a small retail shop and you put ads in the local​ paper, put flyers on doors in every​ neighborhood, and buy billboards in the area so that you can reach as many potential consumers as​ possible, you are engaging in​ ________ marketing

A distinctive group of customers within a larger market who have some similarity but whose needs differ from other customers is known as a​ ________.

Why is it important to begin establishing your personal brand while you are still in​ college?

Which of the following is defined as the flow of goods and services among different countries----the total value of all the exports and imports of the​ world's nations?

The​ ________ consisted of a series of​ anti-government protests and uprisings in a number of Arab countries that were largely aided by new social media​ tools, gave hope to many that dictatorships in countries in the Middle East would become democracies and bring a better life to peoples of the countries

Which of the following replaced the General Agreement on Tariffs and Trades​ (GATT) and sets global rules of trade between​ nations?

Which of the following terms refers to limitations set by a government on the amount of a product allowed to enter or leave a​ country?

The price of one​ country's currency in terms of another​ country's currency is known as the​ ________.

How do countries benefit by being members of economic​ communities?

Which of the following countries make up the economic community known as​ USMCA?

Which of the following is the MOST commonly used measure of a​ country's economic​ health?

An economy experiencing falling​ demand, employment, and income is in which stage of the business​ cycle?

Which term refers to the process of gathering and analyzing publicly available information about​ rivals?

In which competitive macroenvironment do athletic shoe manufacturers such as​ Nike, New​ Balance, Adidas, and Under Armour vigorously compete with one another for​ consumers?

Which of the following refers to the availability of resources that make doing business in another country​ possible?

Which of the following refers to a form of protectionism that stipulates a certain proportion of a product must consist of components supplied by industries in the host country or economic​ community?

Which of the following terms indicates ways to​ dress, how to​ speak, what to​ eat, how to​ eat, and how to​ behave?

Which of these does the chapter identify as the biggest human rights problem in the​ world?

What is the term for the buyer belief that products of certain other countries are superior to similar products made in​ one's own​ country?

Which term refers to a market entry strategy involving two or more firms creating a new​ entity, allowing the partners to pool their resources for common​ goals?

Which of the following market entry strategies involves an agreement in which one firm gives another firm the right to produce and market its product in a specific country or region in return for​ royalties?

If a firm offers the same product for domestic and foreign​ markets, the company is demonstrating which type of product​ strategy?

Which term refers to items that are imported without the consent of the trademark​ holder?

​________ occurs when someone voluntarily offers payments to get an illegal advantage.

Which of the following occurs when someone in authority extracts payment under​ duress?

Which of the following is one of the goals of the American Marketing​ Association?

What part of the sustainable marketing mix involves producing more environmentally friendly​ products, such as electric​ automobiles?

Within the food​ industry, a growing trend is​ locavorism, which means consumers actively look for products that come from farms within​ ________ miles of where they live.

Which of the following terms refers to an ongoing process of making decisions that guides the firm both in the short term and for the long​ term?

​________ is the execution of the elements of a plan based on goals and objectives to bring about a desired future.

Which of the following is the document that describes the marketing​ environment, outlines the marketing objectives and​ strategy, and identifies how the company will implement and control the strategies embedded in the​ plan?

Which of the following refers to a managerial decision process that matches an​ organization's resources and capabilities to its market opportunities for​ long-term growth and​ survival?

Which of the following refers to individual units within a firm that operate like separate​ businesses, with each having its own​ mission, business​ objectives, resources,​ managers, and​ competitors?

Assume you are the director of marketing for a major consumer products firm. You are directly involved in the planning process. Because of your role​ (job title) in the​ organization, when it comes to business​ planning, which level of planning would MOST describe your​ activities?

Which of the following planning processes focuses on developing detailed plans for​ day-to-day activities that carry out an​ organization's functional​ plans?

A​ firm's ________ is what it aspires to do or to be in the future.

Which of the following terms refers to a formal statement in an​ organization's strategic plan that describes the overall purpose of the organization and what it intends to achieve in terms of its​ customers, products, and​ resources?

Which of the following is the process of assessing the​ firm's internal and external​ environments?

The core attributes embraced by a firm that most closely reflect its culture are known as its​ ________.

A(n) ________ is a firm with the​ culture, leadership, and operational capability to change very rapidly as external conditions demand.

In Step 2 of the strategic planning​ process, a firm analyzes its strengths and weaknesses and the opportunities and threats in its internal and external environment. What is this analysis​ called?

A​ ________ refers to the group of different products or brands owned by an organization and characterized by different​ income-generating and growth capabilities.

As part of the strategic planning​ process, Step 4 includes conducting a​ ________, which evaluates a​ firm's business mix and assesses the potential of an​ organization's strategic business units.

​________ is a portfolio analysis model that assesses and compares the potential of a​ firm's SBUs to generate cash that a firm can then use to invest in new products.

According to the BCG growth--market share​ matrix, ________ are SBUs with products that have a dominant market share in​ high-growth markets.

According to the BCG growth---market share​ matrix, ________ are SBUs with a dominant market share in a​ low-growth-potential market.

Executing a rapid change in a​ firm's business​ model, business​ direction, product​ line, or market​ focus, including the ability to rapidly increase​ output, in order to satisfy unexpected new​ and/or different demand is known as a​ ______

Which of the following marketing strategies is NOT a strategy in the​ product-market growth​ matrix?

A firm seeking a growth strategy designed to increase sales of existing products to current​ customers, nonusers, and users of competitive brands in served markets would utilize which of the following marketing​ strategies?

Which of the following strategies are utilized to introduce existing products to new​ markets?

Which of the following involves marketing managers deciding which markets to target and determining how to position products in those​ markets?

The revolutionary effect of digital technologies and business models on an​ organization's value propositions and market positions is known as​ ________.

The​ ________ refers to the inexorable movement of industries toward a​ "digital center" in which business​ models, offerings, and value chains are all digitized to the maximum extent possible.

​________ refers to the ability of organizations and individuals to determine what data collected about them can be shared with third parties

Which of the following refers to a process that first determines what information marketing managers need and then​ gathers, sorts,​ analyzes, stores, and distributes relevant and timely marketing information to system​ users?

________ refers to the responsibility firms have to protect information collected from consumers from unauthorized​ access, use,​ disclosure, disruption,​ modification, or destruction.

Which of the following describes a method by which marketers get information about everyday happenings in the marketing environment that is relevant to their​ business?

Which of the following processes involves physically deconstructing a​ competitor's product to determine how​ it's put​ together?

Which of the following refers to the process of​ collecting, analyzing, and interpreting data about​ customers, competitors, and the business environment in order to improve marketing​ effectiveness?

Individuals employed by retailers and other service providers to experience and report back on the way actual customers are handled are known as​ ________.

The practice of identifying potential negative outcomes in​ advance, analyzing​ them, and taking precautionary steps to reduce or curb that potential is known as​ ________.

Which of the following refers to the data analysis software and interactive software that allow managers to conduct analyses and find the information they​ need?

What is the process called in which marketers examine raw data to discover​ trends, answer​ questions, and gain insights in order to make​ evidence-based decisions?

Which of the following refers to interpreted​ data?

Which of the following refers to the​ collection, deployment, and interpretation of information that allows a business to​ acquire, develop, and retain its​ customers?

Which of the following describes a type of primary research involving a technique marketers use to generate insights for​ future, more rigorous​ studies?

Which of the following exploratory market research techniques typically involves a​ product-oriented discussion among a small group of consumers led by a trained​ moderator?

Which approach to research is based on observing people in their own homes or​ communities?

_______ research is research that probes systematically into the marketing problem and bases its conclusions on a large sample of participants.

Research with results that provide detailed verbal or visual information about​ consumers' attitudes,​ feelings, and buying behaviors rather than offering numeric data is known as​ ________.

Which of the following is a type of descriptive research that involves tracking the responses of the same sample of respondents over​ time?

Marketers use​ ________ research techniques when they want to know if a change in one thing is responsible for a change in something else. These factors are known as independent and dependent variables.

When shopping at the​ mall, a researcher stops you to solicit your opinion on a new product. What type of research are you participating​ in?

When you share photos on sites like Pinterest and​ Instagram, you may be participating in research that tracks consumption patterns and conversations of online consumers called​ ________.

Research that produces numeric results that can be analyzed using a variety of statistical programs is known as​ ________.

Which of the following is a sample in which each member of the population has some known chance of being​ included?

The collection of information from respondents via their answers to questions is known as​ ________.

Which of the following is a sample in which personal judgment is used to select​ respondents?