midterm questions – Flashcards
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Which of the following refers to step 4 in the market planning process?
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Implement and control the marketing plan.
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Which of the following is the 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 marketingstrategy?
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Marketing plan
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A ________ refers to the group of different products or brands owned by an organization and characterized by different income-generating and growth capabilities.
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business portfolio
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Developing the marketing program, also known as a(n) ________, includes assigning responsibility for each part of the plan, developing a timeline, creating a marketing budget, and then measuring and controlling the program.
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action plan
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Which of the following terms refers to the uncontrollable elements outside an organization that might affect its performance either positively or negatively?
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External environment
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When a firm has multiple products and services to market, it often creates individual units in distinct business areas, which are referred to as ________.
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strategic business units (SBUs)
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According to the BCG growth dash-market share matrix, ________ are SBUs with products that have a dominant market share in high-growth markets.
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stars
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Which of the following planning processes concentrates on developing detailed plans for strategies and tactics for the short term, supporting an organization's long-term strategic plan?
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Functional planning
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Which the following refers to a plan that includes the decisions that guide the entire organization?
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Business plan
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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?
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Strategic planning
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According to the BCG growthdash-market share matrix, ________ are SBUs with a small share of aslow-growth market. They are businesses that offer specialized products in limited markets that are not likely to grow quickly.
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Dogs
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In the first step of the strategic planning process, a firm creates a ________, which is 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.
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mission statement
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If Dannon were to aggressively promote its Activia yogurt with probiotics in an effort to increase sales of existing products to existing markets such as current users, nonusers, and users of competing brands within a market, the company would be using a ________ strategy.
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market penetration
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In the fifth step of the strategic planning process, a company that introduces existing products to new markets is utilizing a ________ strategy.
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market development
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Marvel Entertainment would be considered a ________ on Disney's BCG growth-market share matrix because it creates films such as The Avengers that dominant market share and generate large revenues, but require large amounts of funding to keep up with production and promotion demands.
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Star
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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.
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portfolio analysis
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In ____________ of the marketing planning process, marketing managers decide which markets to target and develop the marketing mix strategies to support how they want to position the product in the market.
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Step 3
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What is the next step in the marketing research process after determining the research design?
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Choose the method to collect primary data.
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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 marketingeffectiveness?
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Market research
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Which data collection method involves researchers recruiting shoppers in malls or other public areas for studies?
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Mall-intercept
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Which of the following is a sample in which each member of the population has some known chance of being included?
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Probability sample
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Which of the following describes a type of primary research involving a technique marketers use to generate insights for future, more rigorous studies?
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Exploratory research
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________ is the collection, deployment, and interpretation of information that allows a business to acquire, develop, and retain its customers.
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Customer insight
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________ consists of raw, unorganized facts that become ________ when they aretransformed, analyzed, and interpreted.
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Data; information
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Which of the following refers to an organized collection (often electronic) of data that can be searched and queried to provide information about contacts, products, customers, inventory, and more?
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Database
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Which of the following refers to a descriptive technique involving the systematic collection of quantitative information?
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Cross-sectional design
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if a company is collecting data on a regular basis and selling the reports to multiple firms, it is conducting which of the following types of research?
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Syndicated research
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Which of the following exploratory market research techniques typically involves aproduct-oriented discussion among a small group of consumers led by a trained moderator?
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Focus group
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Which of the following describes a method by which marketers get information about everyday happenings in the marketing environment?
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Market intelligence system
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_______ is another name for interpreted data.
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Information
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Which of the following is a marketing metric used to analyze Web traffic?
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Bounce rate
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Which the following refers to interpreted data?
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information
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________ is conducted for a single firm to provide specific information its managers need.
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Custom research
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The second important element of the MIS is the ________, a method by which marketers get information about what's going on in the world that is relevant to their business.
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market intelligence system
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In a ________ sample, some members of the population have no chance at all of being included.Thus, there is no way to ensure that the sample is representative of the population. Therefore, results from these studies can be generally suggestive of what is going on in the real world but are not necessarily definitive.
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nonprobability
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A(n) ________ refers to the data, analysis software, and interactive software that allow managers to conduct analyses and find the information they need.
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marketing decision support system (MDSS
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Organizations can utilize a(n) ________ as an internal corporate communication network that uses Internet technology to link company departments, employees, and databases.
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intranet
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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?
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Marketing information system (MIS)
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________ utilizes the four steps. Identify, differentiate, interact, and customize to facilitate a relationship with consumers
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One-to-one marketing
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Which of the following refers to the financial value of a customer throughout the lifetime of the relationship?
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Customer equity
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In marketing, ________ refers to the percentage of an individual customer's purchase of a product that is a single brand.
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share of customer
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Which of the following refers to a group of technologies and processes that enables marketers to collect, measure, analyze, and assess the effectiveness of marketingefforts?
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Marketing analytics
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Which of the following refers to a marketing metric that signifies an event that occurs on a Web page that indicates the meeting of a predefined goal associated with theconsumer's interaction with that page?
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Conversion
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________ collects and sells personal information about consumers, which might include a consumer's religion, ethnicity, user names, and income.
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A data broker
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When marketing managers want to track and measure the performance of their marketing campaigns, initiatives, and channels and, when appropriate, serve as a control mechanism for when corrective action is necessary, they use ________.
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marketing metrics
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Which of the following refers to a collection and analysis of machine-sensed environmental data pertaining to human social behavior, with the goal of identifying predictable patterns of behavior?
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Reality mining
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In marketing, ________ refers to any point of direct interface between customers and a company (online, by phone, or in person).
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touchpoint
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________ is a marketing metric that indicates the percentage of Web site users who have decided to click on an advertisement in order to visit the Web site or Web page associated with it.
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Click-through
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________ is a systematic tracking of consumers' preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual's unique wants and needs. CRM allows firms to talk to individual customers and to adjust elements of their marketing programs in light of how each customer reacts.
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Customer relationship management (CRM)
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A metric often used to determine when a customer goes beyond merely visiting a webpage and which indicates reaching a predefined goal associated with theconsumer's interaction with that page is referred to as ________.
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conversion
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Which of the following Big Data sources utilizes Web scraping and sentiment analysis?
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Social media sources
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________ uses large quantities of data within variables that have identified relationships to more accurately forecast specific future outcomes.
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Predictive analytics
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Which of the following refers to data that is typically numeric or categorical; can be organized and formatted in way that is easy for computers to read, organize, andunderstand; and can be inserted into a database in a seamless fashion?
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Structured data
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For years, supermarkets, such as Safeway, have sold data derived from all the items scanned at the cash register when consumers check out with their loyalty cards. Which of the following refers to this type of information?
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Scanner data
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Which of the following digital marketing methods refers to a systematic process of ensuring that your firm comes up at or near the top of lists of typical search phrases related to your business?
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Search engine optimization (SEO)
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________ refers to an online ad purchase in which the cost of the advertisement is charged each time the advertisement shows up on a page that the user views.
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Cost per impression
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Applications of ________ can be seen through examples such as the success of the Oakland Athletics, a major league baseball team that used the analysis of large data sets to help identify undervalued players and making strategic decisions in games.
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Big data
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Which of the following business-to-business terms refers to the routine purchase of items that a B2B customer regularly needs?
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Straight rebuy
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Many consumers are becoming very aware of the social and environmental consequences of their purchaseslong dash—and making their decisions accordingly. ________ refers to the social movement directed toward protecting consumers from harmful business practices.
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Consumerism
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In the buying center, which role has responsibility to execute the purchase?
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Buyer
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Which of the following roles in the buying center is the member of the buying center who actually needs the product?
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User
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What step in the consumer-decision making process will a consumer narrow down choices deciding on feasibility, and comparing the pros and cons of each remaining option?
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Evaluation of alternatives
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Which of the following terms refers to the process by which people select, organize, and interpret information from the outside world?
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Perception
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________ make up the largest single business market in the United States.
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Government markets
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________ is a marketing technique that links distinct sensory experiences such as a unique fragrance with a product or service.
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Sensory marketing
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Which of the following terms refers to the extent to which a person's sensory receptors are capable of registering astimulus?
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Exposure
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Which of the followings refers to learning that occurs when people watch the actions of others and note what happens to them as a result?
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Observational learning theory
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What step of the consumer decision-making process is a consumer most likely in if heuristics such as brand loyalty and country-of-origin are factoring into the decision?
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Product choice
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Consumer decisions differ greatly, ranging from ________ purchases, which are repeat, low-involvement purchases, to ________ purchases, which are extended problem-solving activities for important, risky, and high-involvement purchases.
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habitual, complex
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Which of the following refers to the marketing techniques that link distinct sensory experiences such as a unique fragrance with a product or service?
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Sensory marketing
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B2B markets include business or organizational customers who buy goods and services for purposes other than personal consumption. There are many differences between organizational and consumer markets including which one of the following factors?
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Demand is derived demand.
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Luxury goods often serve as a(n) _______—visible markers that provide a way for people to flaunt their membership in higher social classes.
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status symbol
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Which of the following describes an organizational market?
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Purchases made by someone other than the user of the product
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Which of the following refers to a combination of hardware and software that ensures that only authorized individuals gain entry into a computer system?
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Fire
