marketing exam 1/quiz – Flashcards
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Walmart's strong supplier relations and efficient supply chain have helped the firm to achieve:
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Operational excellence
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The marketing planning process always proceeds sequentially (in order) through the five steps*
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False
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E-books, in addition to being an alternative product form, provide ___________ value creation since they can be downloaded via the internet immediately when they are needed/wanted.
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Place
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Which of the following is commonly used as a metric for evaluating the effectiveness of a marketing plan? *
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All of the above
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The _________ for the American Red Cross is "to provide relief to victims of disasters and help prevent, prepare,for, and respond to emergencies."
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Mission statement
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For McDonald's, consumers increased concern about health & wellness, and there making healthy eating choices, would be considered a:
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Threat
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McDonald's plan to open vegetarian only restaurants in India would be considered a __________ growth strategy.
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Diversification
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A __________ growth strategy relies on increased advertising and promotions in order to increase market share with the existing target market.
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Market penetration
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What does STP stand for in the marketing strategy process?
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Segmenting, targeting, positioning
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Which part of the marketing mix communicates the products value to the consumer?
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Promotion
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In the United States, the population is
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Growing slowly and becoming more diverse
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Which generational cohort is likely to be loyal to American brands and more frugal?
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Seniors
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Disposable income is:
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Gross income minus taxes
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How much time a consumer spends searching for information before a purchase depends on:*
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All of the above
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Upscale men's and woman's clothing stores primarily appeal to customers' _______________ needs.
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Psychological
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_______________ attributes are product or service features that are important to buyers and that are used to differentiate among choices.
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Determinant
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Post-purchase cognitive dissonance is especially likely for products that are:
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Expensive and infrequently purchased
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Many Hollywood movie stars were among the first to buy electric and hybrid vehicles. These stars often became _________, influencing other consumers' behavior.
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Aspiration reference groups
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Marketers love consumers who engage in _________, buying their company's product with little thought or consideration of alternatives.
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Habitual decision making
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After a consumer recognizes that they have an unsatisfied need, their next step would be to __________.
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Search for information about products
