Professional Documents
Culture Documents
1
Marketing considered beneficial?
o Creates utility for customers
o Marketing can create global competition
Utility received by users of a product
o Form
o Possession
A company adopting social responsibility is purposefully acknowledging
its accountability to larger society
the internal response that customers have to all aspects of an
organization and its offering is known as the
effective marketing benefits
o organizations who sell
o society as a whole
o consumers who buy
Characteristic of marketing in the production era
o Manufactures could not keep up w/ consumer demand
Which of the following statements best describe who is involved in
marketing?
o Every organization markets in some capacity
In addition to focusing on its financial profit responsibility, organizations
are increasingly focusing on which of the following?
o Social responsibility
o Ethics
Chapter 2
A mission statement: States an organizations function in society
Which of the following are true of portfolios analysis?
o Management evaluates the firms various products and
businesses
o Firms typically perform it at the SBU or product line level of the
firm
o Management allocates its resources to products w/ the greatest
potential to be profitable
A visionary organizations core values, mission, and organizational
culture make up its foundation
BCG names
o Dogs- low share, low market growth
o Cash cows- high share, low market growth
o Question marks- low share, high growth market
o Stars- high share, high market growth
An organizations core values typically do not change much over time
o True
An organization sets its direction in terms of the business it is in and its
specific goals
Which two techniques aid in decisions about where an organization
wants to go?
o Business portfolio analysis
o Diversification analysis
Which of the following is not one of the four major growth strategies in
diversification analysis?
o Market analysis
A statement of an accomplishment of a task to be achieved, often by a
specific time, is known as goal
An organizational culture is: the set of values, ideas, attitudes, and
norms of behavior that is learned and shared among the members of an
organization.
A marketing dashboard is the visual computer display of the essential
information related to achieving a marketing objective
Identifying ones direct competition is a way to answer which question?
o What business are we in.
Identifying which of the following allows an organization to determine
where it is at the present time, as it begins to set a strategic direction.
o Competencies, Competitors, Customers
A marketing metric is a measure of the quantitative value or trend of
marketing activity or result
Which two of the following are broad ways that organizational strategies
may vary?
o Level and offerings
Which of the following are true regarding market share?
o It may need to be increased, even at the expense of profit, if
industry status or prestige is at stake
o Is is the percentage of sales of an industry accounted for by a
specific firm
An organizations core competencies are its special capabilities, including
skills, technologies and resources that distinguish it from other
organizations and provide value to its customers.
Chapter 3
Value consciousness is the concern for obtaining the best quality,
features, and performance of a product or service for a given price
Environmental forces
o Social cultural changed
o Economic consumer income
o Technological Electronic business technologies
o Competitive forms of competition
o Regulatory Laws affecting marketing mix actions
5 sources of environmental trends
o Social, economic, technologies, competitive, and regulatory
Baby boomer are those people born between the years
o 1946-64
Culture is defined as a learned and shared set of which of these
o Attitudes, values, ideas
Environmental scanning: is the process of continually acquiring infor on
events occurring outside the organization to identify and interpret
potential trends.
Hispanics, who may be from any race currently make up 16% of the US
population
the generation Y cohort is also called:
o the millennials
technology is an environmental force that involves developing
applications from science or engineering research
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Chapter 4
which of the following is true of code of ethics?
o contributions to government officials and political parties,
customer and supplier relations, conflicts of interest, and
accurate record keeping
Social responsibility includes the concept of Profit, stakeholder, and
societal responsibility
The right to be informed and the right to choose, as both pertain to the
exchange process in marketing are part of: the consumer bill of rights
Ethics Server as guidelines on how to act rightly and justly when faced
with moral dilemmas
Ethics deal with personal moral principles and values, while laws are
societys values and standards that are enforceable in the courts
Which of the two are the most common unethical behaviors when it
comes to competition in business?
o Economic espionage and bribery
A code of ethics is a formal statement of ethical principles and rules of
conduct
Which of the following are personal moral philosophies that have the
most direct bearing on marketing practice?
o Moral idealism and Utilitarianism
Social responsibilities mean that organizations are part of a larger society
and are accountable to that society for their actions
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Chapter 5
Consumer behavior includes which of the following?
o Actions related to the purchase and use of a product
o Processes before and after purchases and use
o Metal and social processes
Information that is gathered about various products and brands in the
information search stage must be sorted out that alternatives can be
evaluated in the next stage of the purchases decision process
Locating information from ones own memory and knowledge is known
as a internal information search, whereas seeking outside sources of
information is an external information search.
Purchase decision process
o Problem recognition information search alternative
evaluation purchase decision post purchase behavior
The perception of a difference between a persons ideal and actual
situation is known as: Problem recognition
Consumer behavior: the actions a person takes in purchasing and using
products and services, including the mental and social processes that
come before and after these actions
After finding out what you want to you have to determine:
o When will you buy it
o Whom should he buy it from
Extended, limited and routine are variations of problem solving for
consumer decisions.
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Chapter 6
Marketing considered beneficial?
o Creates utility for customers
o Marketing can create global competition
Buy classes: straight rebuy, new buy, modified buy
Which of the following are true of a buying center?
o The buy class situation affects the number of people involved in
the center
o It consist of several individual with common goals and
knowledge pertaining to purchase decisions
Derived demand means that the demand for industrial products and
services is driven by or derived from
Purchase decisions
o Problem recognition info search alternative evaluation
purchase decision post purchase behavior
The decision making process organizations use in establishing a need for
products and choosing among different providers of them is called:
o Organizational buying behavior
Price, technical capability, and warranties are typical organizational
buying criteria used by industrial buyers to evaluate other firms
Which of the following are ways that the purchase decision stage of the
organizational decision process differs from the same stage for
customers?
o Lengthy negotiations may occur
o Multiple contracts for different suppliers of the same items may
be awarded.
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Which of the following buy classes involves the greatest potential risk to
the buyer?
o New buy
The gatekeepers controls the flow of info and may prevent it fro
reaching other members of the buying center
An organizational buyer that requires ISO 9000 cert of its suppliers
benefits from
o Confidence in the consistence quality of its suppliers products
Which of the following are more true of the organizational buying
decision process, as compared to the consumer one?
o Supplier capability becomes more important
o More individuals are involved in the decision
Which of the following is the main reason that business organizations
buy products?
o To increase profitability
Within the buying center, you are considered the user when you are the
one using the product within your organization
Many companies have added new objectives in their organizational
buying decisions, including which two of the following?
o Buying from minority & women owned suppliers
o Including environmental initiatives
Depending on the product, there may be a person who acts as an
influencer in the buyer center, often by providing specifications for the
product being purchased or the vendor being considered
The evaluation of where an organization should purchase components
from outside suppliers or build them itself is known as a
o Make buy decision
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Chapter 7
Direct investment occurs when a domestic firm
o Chooses to create and own a foreign subsidiary or division
Global competition among firms exists when they originate, produce,
and market their products worldwide
Economic integration has been advanced by agreements like NAFTA
that promote trade between member nations
A joint venture is a global market-entry strategy that creates a
partnership between a local and foreign firm that will share
ownership, control, and profits from the new company
A tariff is a tax levied on a good imported into a country
Tariffs and quotas are the tools of protectionism, used by
governments to shield local industries from foreign competition
A quota designates the maximum quantities of a product that may be
brought into a country during a specified time period
Global brands are tailored to specific cultures and countries when
necessary, but typically offer consistent product formations and
advertising
Global expansion often begins with exporting. Using a local
intermediary to distribute the exported goods is known as: indirect
exporting
Direct investment is the riskiest type of global entry strategy
Joint ventures are frequently created when a government requires
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Chapter 8
The constraints on the activity, the data needed for decisions, and
how to collect data are all determined in which step of the
marketing research approach
o develop the research plan
select all of the following that are steps in the marketing research
approach
o define the problem, develop the research plan, collect
relevant info, develop findings, take marketing actions
a sales forecast refers to the total sales of a product that a firm
expects to sell during a specified time period under specified
environmental conditions and its own marketing efforts
put the parts of the fifth step in the marketing research approach
in order from first to last
o Make implement evaluate
Research are specific, measurable goals the decision maker seeks
to achieve in conducting the marketing research.
Marketing research includes which of the following
o Collecting data, analyzing data, recommending action
Marketing research can help you make a more informed decision,
which is defined as a conscious choice from among two or more
alternatives.
Which of these are part of the development of marketing research
plan?
o Specify constraints, determine how to collect data
A constraint in a decision is a restriction placed on potential
solutions to a problem, such as limit on time or money
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Chapter 9
The purpose of developing a market product grid is to trigger
marketing actions to increase sales and profit
Which two of the following are true of product positioning?
o In relation to competitive products
o It exists in the mind of the consumer
Perceptual map: a means of displaying in 2 dimensions the location
of products or brands in the minds of consumers
The market product grid can be used to identify both product and
market synergies that may be available
Demographic mentation groups consumers according to some
objective physical, measurable or other classification attribute or
prospective customers
Which of the following are typical psychographic variable used in
segmentation?
o Personality and lifestyle
The 80/20 rule helps marketers recognize the importance of
o Heavy users
Common segmentation basses include geographic and behavioral
variables
Which of the following are typical behavioral variable used in
segmentation?
o Usage rate, awareness
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Chapter 10
Which of the following are classifications of new products based upon
categorizing innovation according to the learning required of the
consumer?
o Dynamically continuous innovations
o Discontinuous innovation
o Continuous innovation
Crapola has a single product line that includes several varieties of
granola, including number 2
Consumer products are purchased by the ultimate consumer, whereas
business products are purchased by organization to assist them in
providing other products for sale
A product is a good, service or idea consisting of a bundle of tangible
and intangible attributes that satisfies consumers needs and is
received in exchange for money or something else of value
Which of the following are important points of view when considering
a products newness
o Newness in legal terms
The categories of continuous innovation, dynamically continuous
innovation, discontinuous innovation are based on level of consumer
o Learning
A good is a product that is defined as having tangible attributes
Among products, services are defined as intangible activities or
benefits that satisfy consumers needs
To determine if a product should be considered new, it can be
compared w/ existing products or its level or required consumer
learning may be considered.
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