Companies address needs by putting forth a ________, a set of benefits that they offer to customers to satisfy their needs.

marketing plan

value proposition

deal

brand

A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.

viral marketing campaign

product management system

data warehousing system

marketing intelligence system

Market demand for a product is the total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program

NA

True

False

NA

________ is based on the premise that marketers can no longer use "interruption marketing" via mass media campaigns.

Relationship marketing

Internet marketing

Permission marketing

Database marketing

The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.

organizational plan

strategic marketing plan

corporate mission

corporate tactical plan

When the government of any country restricts the sale of a particular commodity to certain groups—for example, restricting sales of alcohol to individuals above the age of 21—the eligible consumers who have income, interest, access and qualification constitute the ________.

potential market

qualified potential market

qualified available market

target market

In the communication stage of the value creation and delivery sequence, marketing must determine specific product features, prices, and distribution channels.

True

NA

NA

False

For which of the following categories of products will demand forecasting be easiest?

goods which are produced in an oligopoly market

commodities which are in the initial stage of their product life cycles

products which have many close substitutes in the market

products whose consumers are highly sensitive to change in price

Sammy's is a fast food chain that offers burgers, sandwiches, and shakes. It focuses its marketing efforts on all the experiences the customers will have on the way to obtaining their food order and eating it. Hence, Sammy's is focusing its marketing efforts on its ________.

horizontal marketing system

ost versus benefit system

marketing channel system

value delivery system

In which of the following cases is building a database worthwhile for the company?

where the company has a long relationship with its customers

where customers show little loyalty to a brand

where the cost of gathering the information is high

where the product is a once-in-a-lifetime purchase

The ________ is the number of channel levels, from raw materials to final product and distribution, in which a company will participate.

product/application sphere

vertical sphere

industry sphere

competence sphere

Why must the researchers avoid generalizing from focus-group participants to the whole market?

Most of the participants are likely to exhibit similar tastes and preferences.

Participants' responses are not reliable

Most of the participants are likely to be ignorant about the topic of discussion.

The size of the group is too small and the sample is not drawn randomly.

You are the marketing research director of a medium-sized manufacturing firm and you would like to engage an outside marketing research firm to conduct field interviews. Which of the following options categories of marketing research firms should you use?

syndicated-service research firms

custom marketing research firms

specialty-line marketing research firms

global research management firms

Conformance quality and performance quality are identical in the marketing sense

NA

True

NA

False

As Kodak addresses the digital revolution taking over the photographic industry, it wants customers to see it as a leader in digital photography. Thus, it is moving away from the production of film roll cameras. This would be an example of which of the following value creation steps?

abandoning current product lines

redoing the corporate logo

changing the corporate vision

repositioning the company's brand identity

The sites which offer positive or negative product or service reviews and are built by the retailers of a particular product or service are called ________.

distributor or sales agent feedback sites

independent service review forums

customer complaint sites

combo sites

When consumers share a strong need that cannot be satisfied by an existing product, they are exhibiting latent demand.

True

False

NA

NA

________ provide diagnostic information about how and why we observe certain effects in the marketplace, and what that means to marketers.

Marketing insights

Marketing channels

Marketing information systems

Marketing-mix models

Which of the following is true for customer satisfaction?

The ultimate goal of a customer-centered firm is to create high customer satisfaction

Consumers often form more favorable perceptions of a product with a brand that is new.

Greater customer satisfaction has also been linked to higher returns and lower risk in the stock market

Satisfaction is a deeply held commitment to rebuy or repatronize a preferred product despite situational influences.

Each of the following is true about the Internet's impact on the way business is conducted today, EXCEPT one. Identify the exception.

It has facilitated mass marketing but not the sale of customized products.

It can be used as a powerful sales channel.

It has empowered consumers with easy access to information.

It has facilitated high-speed communication among employees.

Identify the correct statement about marketing management

It focuses mostly on monitoring the profitability of a company's products and services.

It is defined as the field that deals with planning and managing a business at the highest level of corporate hierarchy

It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.

It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services.

________ goods constitute the bulk of most countries' production and marketing efforts.

Intangible

Impulse

Physical

Durable

Customer profitability analysis (CPA) is best conducted with the tools of an accounting technique called ________.

input-output analysis

factor analysis

activity-based costing

revenue-based costing

Designing a research plan calls for decisions on all of the following EXCEPT ________.

research instruments

research objectives

data sources

research approaches

Which of the following economies provide limited opportunities to international marketers to develop product sales?

raw-materials-exporting economies

capitalist economies

industrializing economies

subsistence economies

Today, the "mass market" is actually splintering into numerous segments, each with its own wants, perceptions, preferences, and buying criteria. This implies that ________.

all market segments are equally profitable

the producers should focus on niche markets

the producers must consider themselves as a part of the value-chain process

the traditional marketing approach would be the best approach to follow

What are customer touch points?

all interactions between customers and competitors

all needs and wants of customers

all direct or indirect interactions between the customer and the company

all aspects of the offering that directly affect consumer preferences

After computing averages and measures of dispersion for the major variables and applying advanced statistical techniques and decision models in the hope of discovering additional findings from the gathered information, the researchers ________.

analyze the appropriateness of the data sources used

present findings relevant to the major marketing decisions facing management

define the problem, the decision alternatives, and the research objectives

evaluate the costs associated with data collected

Which of the following is an example of growth by diversification?

a company introducing its existing products in a new market

a company increases its product line in an existing market

a company introducing new product category in a new market

a company introducing a new product category in an existing market

Keeping a survey short and simple and contacting customers no more than once a month are two keys to drawing people into the data collection effort.

True

NA

False

NA