A. Marketing is a process of creating customer value.
In the final step of the five-step marketing model, companies __________.
A. reap the rewards of creating customer value
__________ is the act of obtaining a desired object from someone by offering something in return.
D. Exchange
A brand's __________ involves the set of benefits or values it promises to deliver to consumers.
C. value proposition
The __________ concept holds that consumers will favor products that are available and affordable.
C. production
Customer relationship building blocks consist of __________.
C. customer value and satisfaction
Which is the fastest-growing digital marketing platform?
A. Mobile marketing
__________ marketing is perhaps the fastest-growing digital marketing platform.
E. Mobile
The first step in strategic planning involves __________.
B. defining the company's mission
A company's mission statement should be focused on __________.
B. customers
The major activity in strategic planning is the analyses of a business __________.
E. portfolio
Within the growth-share matrix, "cash cows" are __________.
D. low-growth, high-share businesses or products
Each department can be thought of as a link in the company's __________.
B. value chain
__________ plays a key role in the company's strategic planning.
D. Marketing
__________ involves evaluating each market segments attractiveness and selecting one or more segments to enter.
D. Market targeting
__________ refers to activities that communicate the merits of the product and persuade target customers to buy it.
D. Promotion
In SWOT analyses, the favorable factors or trends in the external environment that the company may be able to exploit to its advantage are referred to as __________.
A. opportunities
The most common form of marketing organization is __________.
D. functional organization
__________ are distribution channel firms that help the company find customers or make sales for them.
A. Resellers
The "echo boomers" is another name for __________.
C. millennials
The __________ environment consists of economic factors that affect consumer purchasing power and spending patterns.
A. economic
Shortages of certain raw materials is a major trend related to the __________ environment.
A. natural
The __________ environment is the most dramatic force shaping the destiny of the markets and marketing.
E. technological
Business legislation has been enacted for a number of reasons which include all of the following except __________.
C. developing a code of ethics
The __________ environment consists of institutions and other forces that affect a society's basic values.
E. cultural
A(n) __________ stance by companies toward the marketing environment is preferred over a reactive stance.
C. proactive
Many companies view the marketing environment as a(n) __________ element to which they must react and adapt.
C. uncontrollable
When McDonald's offers healthy menu choices and uses recyclable packaging, it is most appropriately following the __________.
E. sustainable marketing concept
The __________calls for socially and environmentally responsible actions that meet the present needs of consumers and needs of future generations.
B. sustainable marketing concept
Critics have charged that some companies use __________, causing their products to become unfashionable before they actually should need replacement.
E. planned obsolescence
GlaxoSmithKline has stated in its ads, "Today's medicines finance tomorrow's miracles." Considering the criticisms of marketing this statement can be related to__________.
A. excessive mark-up
Based on consumerism, the traditional sellers' rights include all of the following except __________.
C. the right to be protected against questionable products and marketing practices
According to the environmentalism movement, at the most basic level, a company can practice __________.
C. pollution prevention
Marketing means that the company should define its strategy in broad social terms rather than narrow product terms.
E. Sense-of-mission
__________ products have low immediate appeal but may benefit consumers in the long run.
D. Salutary
Conscientious marketers face many dilemmas, which include all of the following except __________.
D. companies and their managers are not responsible for making moral judgments
Which statement does not describe sustainable companies?
A. By setting guidelines, sustainable companies can resolve all the difficult ethical decisions.
Compared to the mainstream buying public, Hispanic consumers tend to be deeply __________ oriented, making this a special characteristic and behavior.
C. family
According to the stimulus-response model of buyer behavior, marketing and other stimuli enter the consumer's __________ and produce certain responses.
A. black box
Consumer purchases are influenced strongly by certain characteristics which include all of the following except __________.
E. cognitive
Consumer motivation, perception, and learning are related to the __________ factors influencing consumer behavior.
E. psychological
__________ behavior occurs when consumers are highly involved with an expensive, infrequent, or risky purchase but see little difference among brands.
E. Dissonance-reducing buying
When does the habitual buying behavior occur?
B. Under conditions of low-consumer involvement and little significant brand difference
In the product adoption process, __________.
D. there are five stages
The first group marketers try to bring their new products to the attention to are potential __________.
B. innovators
Which of the following statements is not a difference between business markets and consumer markets?
C. The market is very small and limited.
Business markets have demand that __________.
C. is inelastic
A business buying situation in which the buyer reorders something without any modifications is known as a __________
D. straight rebuy
__________ are members of the buying center who help define specifications and provide information for evaluating alternatives.
A. Influencers
Developing product specifications follows __________ in the business buyer decision process.
C. general need description
__________ includes the final order with the chosen supplier or suppliers and lists other required items.
C. Order-routine specification
To do e-procurement, companies can conduct __________, in which they put their purchasing requests online and invite suppliers to bid for the business.
A. trading exchanges
B. extranet link
C. intranet link
D. company buying site
E. reverse auctions
E. reverse auctions
The rapidly expanding use of e-procurement in business-to-business deals provides several advantages; however, one of the disadvantages is __________.
E. it pits suppliers against one another
Institutional markets are __________.
A. characterized by low budget, captive patrons
Hospital purchasing agents should prefer __________.
A. food vendors with low prices and quality products
Market __________ evaluates each market segment's attractiveness and selects one or more segments to serve.
B. targeting
The step in designing a customer valuedash–driven marketing strategy in which a company divides a market into distinct groups of buyers is known as market __________.
B. segmentation
__________ segmentation divides buyers into different segments based on lifestyle or personality characteristics.
E. Psychographic
__________ segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses to a product.
D. Behavioral
Using a(n) __________ marketing strategy, a firm might decide to ignore market segment differences.
E. undifferentiated
Instead of going after a small share of a large market, a firm goes after a large share of a smaller niche segment. This type of marketing strategy is known as__________.
B. concentrated marketing
The winning value proposition by discount stores such as Walmart and Best Buy can be categorized as __________.
C. the same for less
Blood donations to the Red Cross are considered __________ products.
E. unsought
Freedom from defects and consistency in delivering a targeted level of performance is an attribute of product's __________.
E. conformance quality
Which of the following is not considered one of the links in the service profit chain?
C. Buyer–seller interaction
__________ is a measure of the brand's ability to capture consumer preference and loyalty.
B. Brand equity
The branding strategy of launching a product or service as a national or store brand is considered a __________.
A. brand sponsorship
New product development starts with __________.
D. idea generation
Through a company invites broad communities of people into the innovation process.
A. crowdsourcing
__________ development focuses on finding new ways to solve customer problems.
E. Customer-centered new product
Profits increase during the __________ stage of the product life cycle.
E. growth
One of the disadvantages of product and service standardization for international market is __________.
D. varying worldwide market
What is the stage in competitor analysis in which marketing management tries to find out competitors' objectives?
C. Assessing competitors
"Kodak didn't lose out to competing film makers such as Fuji; it fell to the makers of digital cameras that use no film at all." This statement is a classic example of__________.
C. competitor myopia
A winning strategy for competitive positioning in which the company concentrates on creating a product line and marketing program so that it comes across as the class leader in the industry is referred to as __________.
C. differentiation
The most preferred orientation for companies is __________.
D. to be market oriented
Market nichers who focus on companies such as Walmart or General Motors are referred to as __________.
