SBMS – Chapter 7 Quiz – Flashcards
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A firms marketing philosophy determines how strategic marketing activities are used to achieve
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business goals
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Entrepreneurs should base their market assessments, production schedules, inventory policies, and personnel decisions on
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the sales of forecast
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Every day, associates of Sewell Motors, a Dallas-based auto retailer, strive to exceed the company's expectations of treating the customer as its number one priority. Every action, policy, and ultimate sale is conducted professionally, with consumers needs in mind. Sewell Motors subscribes to the ____ marketing philosophy.
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consumer-oriented
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Forecasting sales for a new venture
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is extremely difficult
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In considering its marketing strategy, a new venture will typically concentrate on
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a select few target markets or just one
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In order to be appropriately considered a market, a group of customers or potential customers must have
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purchasing power
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Irene Anderson, an experienced entrepreneur, is evaluating her customer profile. She should check
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her customer benefits to make sure they are consistent with the "products and services" section of her business plan
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Its decision to produce flavored spring water ice cubes in response to requests from its customers reflects Norway Ice Company's ____ marketing philosophy
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consumer-oriented
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Marketing research should be viewed as a supplement to, not a replacement for
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intuitive judgement
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One section of the competitors analysis of a formal marketing plan should include all of the following, except
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the competitiveness of plans such as warranty and repair policies
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Problems typically associated with the use of secondary data include all of the following except
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limited number of data resources
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Small business marketing involves a number of activities, including
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creating, developing, preparing, communicating, and delivering a bundle of satisfaction to a target market
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Techniques used to collect primary data are often classified as ____ and ____ methods
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observational/questioning
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The consumer-oriented approach to marketing
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is the recommended philosophy of all types of businesses
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The description of potential customers in a target market is commonly called a
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customer profile
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The initial step in the marketing research process is to
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select a data collection method
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The marketing plan should include
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a competitor analysis
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The most detailed and scrutinized section of a formal marketing plan is the
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marketing strategy
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Which of the following marketing strategies was not discussed in the book?
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Bivariate Strategy
