Quiz Mark 2. Business - Marketing

When checking employee capabilities as part of a supplier visit the LEAST likely category reviewed is ________

How does a firm use a market opportunity to reach a particular target market?

Analysis of the marketing environment also includes identifying opportunities in the marketplace, which requires a solid understanding of the company's industry. When the right combination of circumstances and timing permits an organization to take action to reach a particular target market, a market opportunity exists. The SWOT analysis is used to assess an organization's strengths, weaknesses, opportunities, and threats. It is depicted as a four-cell matrix and shows how marketers must seek to convert weaknesses into strengths, threats into opportunities, and match internal strengths with external opportunities to develop competitive advantages. Strengths and weaknesses are internal factors that can influence an organization's ability to satisfy target markets. Strengths refer to competitive advantages, or core competencies, that give the company an advantage over other firms in meeting the needs of its target markets. Weaknesses are limitations a company faces in developing or implementing a marketing strategy.

3

- Bob is always complaining that his barber does not cut his hair the same way consistently. Bob's barber exhibits service _____. - You did not have many customers today at your car wash. Unfortunately, you cannot save those missed car washes for another day because of their _____. - A haircut gets consumed as it is being produced. This is because of its _____. - Mary cannot smell the eye exam she just received because of its _____. - Delores goes to the same massage parlor every month, and she wants the same masseuse to do her massage every time. This is an example of service _____. WORD BANK: inseparability, intangibility, perishability, heterogeneity

4

Once marketing managers have determined a global product and promotion strategy, they can select the remainder of the marketing mix. However, entry into many developing nations presents special pricing problems because:

5

_____ refers to the capability of attracting and influencing all stakeholders, whether through energetic brands, heroic missions, distinctive talent development, or an inspirational corporate culture

6

Ideally, a company will have a clear differentiation strategy, because commodity products cannot be sustained as a competitive advantage

7

In 2000, approximately how much did consumers spend on goods and services worldwide?

8

Which of the following is TRUE of descriptive research?

9

The Madrid Protocol is

10

Trade shows can be useful in generating solid publicity MOSTLY because they ________

11

Which of the following is an attempt to integrate the disparate elements of the marketing communications program by arranging the meetings with all the interested parties?

12

The iceberg metaphor shows that many customers try to negotiate on price because:

13

Crowdsourcing refers to collecting the opinions of consumers through surveys administered in public places, such as shopping malls

14

Services do not typically rely on physical goods for their performance

15

What type of question is the following: "Do you feel that The Federal Reserve is concerned about raising taxes and reducing inflation?"

16

Luke was interested in developing a communication budget for the holistic vitamin shop he will be opening in 30 days. He is planning a few promotional sales and will advertise through local newspapers. With the available information, what method would be best for Luke to pursue to develop his communication program?

17

Media coordination can occur across and within media types, but marketers should combine personal and nonpersonal communications channels through multiple-vehicle, multiple-stage campaigns to achieve maximum impact and increase message reach and

18

A person's buying choices are influenced by several major psychological factors. Which is NOT one of these factors?

19

Explain how marketers have responded to growing diversity in the United States

20

One of Joelle's challenges when coaching salespeople in listening skills is overcoming the misperception that salespeople need to be better at talking than at listening so that they can persuade customers to buy

21

Individual interviews involve

22

A(n) ______________ provides a tool that represents the frontstage enactment and its backstage support of a service performance

23

Parsimony is important in industrial marketing because:

24

What are the disadvantages of SEO:

25

Many governments do not look favorably upon corporate sponsorships: they regard them as an approach to infiltrate all aspects of consumers' lives

26

All of the following have contributed to the changes in modern retailing except

27

Company leaders should never respond to negative comments posted to blogs because doing so gives the comment credibility

28

Credit increases future buying power

29

The main sources of data for causal research are 1) questioning respondents through surveys, and 2) conducting experiments

30

Which statement characterizes consumers' attitudes about their data?

31

Which of the following completes the statement ‘______ of social media content is the most prevalent activity but must be served by the more taxing ______ of content.’?

32

"Good" market segments are those that are

33

Which of the following is not a source of increased customer profitability over time?

34

The most efficient and successful service desks have one person who knows everything about all the products supported.

35

Power = 1 -

36

Scentsy introduced new products made for the skin, including the fine fragrance roller, velvet hand cream, whipped body souffle, and a moisturizing body bar. This is an example of a _______________. One of the fine fragrance rollers is called No. 27, a mix of mandarin orange, rose, and amber. This is an example of a __________________.

37

Of all the ways to structure a sales force, product sales force structure is most effective in helping the company to become more customer focused and build closer relationships with important customers

38

Successful marketers that understand the significance of word-of-mouth communication seek out opinion leaders and try to encourage them to try their products in the hope they will spread favorable communication about them

39

Business buyers use a variety of criteria to evaluate alternative products and suppliers. The three most important criteria, in order of importance, are usually:

40

Which of the following statements about brand loyalty is most accurate?

41

_____ signage is placed closer to the merchandise and is intended to give details about specific merchandise items

42

Describe the four phases in the development of strategic partnering relationships that are characterized by increasing levels of involvement.

(1) The first phase is the awareness phase where no transactions take place. The buyer may observe new merchandise at a trade show or a trade magazine and seek information about the vendor's reputation or image. (2) During the exploration stage, the buyer and vendor begin to explore the potential benefits and costs. The buyer may make a purchase to test demand for the product in stores and begin to learn about the working relationship. (3) In the expansion phase, the buyer has collected enough information about the vendor to consider developing a long-term relationship. Together, they work on joint promotional programs and sales increases. (4) When both parties continue to find the relationship mutually beneficial, the relationship moves into the commitment stage where they continue to make significant investments in the relationship.

43

The augmented product is considered the basic level among the three levels of product

44

For a given level of buying power, the larger the family, the greater the willingness to spend

45

Which type of organizational purchase situation occurs when the purchase is of minor importance and is not complex?

46

Which of the following is not a member of the buying center?

47

How is most direct mail sent?

48

Which of the following is NOT a key dimension of behavior that should be measured by the researcher?

49

Describe how Boeing dealt with the need to create flexible capacity when designing its 777 airliner

50

The _____ clause in a contract stipulates that any benefits attributed to a third party (other than the buyer or supplier) identified in the contract must be enforced

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Quiz Mark 2. Business - Marketing

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