A __________ is a
road map for the marketing activities of an organization for a specified future
time period, such as one year or five years.

marketing dashboard

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marketing plan

operation plan

mission statement

What is meant by
“accelerating the process?”

Increase advertising costs
during product launch

Speed up new product time
to market

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Identify major competitors
early

Create a new market space

The product life
cycle refers to __________.

a concept that describes
the stages a new product goes through from product concept to commercialization

the average life span of a
product

a concept that describes
the stages a product goes through in the marketplace—early growth, accelerated
development, maturity, and decline

a concept that describes
the stages a product goes through in the marketplace—introduction, growth,
maturity, and decline

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Jay
stops at the shopping mall to purchase a new pair of jeans from the Diesel
store. He is the

ultimate consumer in a pipeline from the producer through
intermediaries, including the clothing store. This pipeline is actually a
_______.

marketing channel

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marketing tunnel

consumer market

distribution matrix

What is the
marketing objective for the growth stage of the product life cycle?

maintain brand loyalty

minimize promotion

increase market share

stress differentiation

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In the nonprofit world of the
performing arts, box office technology has essentially remained the same since
the 1980s. A company called Tessitura is trying to change that. Tessitura is
able to track every transaction with its patrons in one database. The
information collected includes ticket purchases, fund-raising, volunteering,
and gift shop purchases that will help symphonies, operas, and theaters develop
customer profiles in order to tailor their sales messages to specific
individuals. In other words, Tessitura will allow arts groups to engage in:

mainstream marketing

societal marketing

relationship marketing

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market aggregation

Marketing refers
to:

the production of products
or services that will generate the highest return on investment.

the activity for creating,
communicating, delivering, and exchanging offerings that benefit its customers,
the organization, its stakeholders, and society at large.

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the activity involved in
getting a product or service from the manufacturer to ultimate consumers and
organizational buyers.

the process of identifying
target market segments for a product or service.

Variables such as location, the North American Industry
Classification System (NAICS) code, and type of buy are all examples of ways
to:

promote NAFTA.

segment an organizational
market.

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forecast sales to a
consumer market.

differentiate products.

While
pricing objectives frequently reflect corporate goals, pricing constraints
often relate to:

stockholder demands.

conditions
existing in the marketplace. an organization’s code of ethics.

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organization itself.

In personal
branding, the “price” component of the marketing mix refers to:

The number of hours you
spend job searching

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The annual cost of
maintaining online profiles (such as LinkedIn)

The expense associated with
job-hunting

The salary range and job
benefits you hope to receive

At Mattel, Barbie is child-tested to be sure the doll cannot be
broken apart and accidentally choke a child. This type of consumer or safety
test occurs during the __________ stage of the new-product process.

new-product strategy
development

market testing

development

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screening and evaluation

Customer value
refers to:

the cluster of benefits
that an organization promises customers to satisfy their needs.

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the
need of a customer to receive the highest quality product at the lowest
possible price.

a
statement that, before product development begins, identifies (1) a
well-defined target market; (2) specific customers’ needs, wants, and
preferences; and (3) what the product will be and do to satisfy consumers.

the unique combination of
benefits received by targeted buyers that includes quality, convenience,
on-time delivery, and both before-sale and after-sale service at a specific
price.

Developing a pool of concepts to serve as candidates for new
products is the __________ stage of the new-product process.

idea generation

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product development

open innovation

new-product strategy
development

The goal of a
SWOT analysis is to:

identify market research
questions in order to develop new products for new market segments. determine
how raises, bonuses, and dividends will be paid.

identify the critical
strategy-related factors that can impact the firm. reorganize the firm’s
marketing department.

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Marketing
research refers to:

the
science of using observable human behavior in order to identify and solve marketing
problems.

the process of defining a
marketing problem and opportunity, systematically collecting and analyzing
information, and recommending actions.

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the use of information
technology to find objective solutions to a marketing problem.

the process of
systematically collecting and analyzing information in order to define a
marketing problem.

There is no single “generic”
marketing plan that can apply to all organizations or all institutions. Rather,
the specific format for a marketing plan for an organization depends on the
following: the industry, the kind and complexity of the organization, and
________.

available resources

the financial investment
needed

the competition

the target audience and
purpose

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Which of the
following conditions are necessary for marketing to occur?

a
quality product, a fair price, a clever method of promotion, and a place where
a customer can buy the product

two or more people, a
product, a reasonable price, and a place to make an exchange

two or more people, a method
of assessing needs, a way to communicate, and an exchange

two or more parties with
unsatisfied needs, a desire and an ability to satisfy them, a way to
communicate, and something to exchange

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Online retail purchases by
consumers can be the result of several very different approaches, which
include: (1) paying dues to become a member of an online discount service; (2)
participating in an online auction; (3) going directly to online malls; and (4)
_______.

participating
in a buying cooperative becoming a secret shopper

using
a shopping “bot” to search for a product at locations with the best price
becoming a member of a research group that evaluates new products

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Environmental
scanning refers to:

assessing
any possible negative impact a firm’s activities might have on the local
ecology. setting up a regular schedule to assess the performance of different
divisions within a firm.

continually acquiring
information on events occurring outside the organization to identify and
interpret potential trends.

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initiating
an internal talent search to identify employees who can think “outside the box”
to generate solutions to marketing problems caused by changes in the marketing
environment.

Relationship
selling refers to:

the
assignment of a single salesperson to a single customer throughout the entire
sales process.

the practice of building
ties to customers based on a salesperson’s attention and commitment to customer
needs over time.

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when suppliers and sellers
combine their expertise and resources to create customized solutions; commit to
joint planning; and share customer, competitive, and company information for
their mutual benefit, and ultimately the customer.

the practice of maintaining
contact with a customer on a regularly scheduled basis following the initial
sale of a product or service.

A global
marketing strategy refers to:

the strategy currently used by most U.S.
domestic firms that when entering a new international market, these firms offer
only those products that require the least amount of product adaptation.

the
global strategy of seeking out already established firms in other nations and
selling them the rights to manufacture and distribute the firm’s products
through a host nation’s local businesses.

the strategy of
transnational firms that employ the practice of standardizing marketing
activities when there are cultural similarities and adapting them when cultures
differ.

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the strategy used by
multinational firms that have as many different product variations, brand
names, and advertising programs as countries in which they do business.

Segmentation
based on some subjective mental or emotional attributes, aspirations, or needs
of prospective customers is referred to as:

socioeconomic segmentation.

psychosocial segmentation.

affective segmentation.

psychographic segmentation.

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Computer-based
networks that trigger actions by sensing changes in the real or digital world
are known as:

global
marketing platforms.

convergent systems.

intelligence technologies.

smart systems.

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The study of
similarities and differences among consumers in two or more nations or
societies is referred to as __________.

transnational finance

market synthesis

cross-cultural analysis

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international sociographics

Advertising,
personal selling, sales promotion, public relations, and direct marketing are
marketing communications alternatives that make up a firm’s __________.

marketing mix

promotional mix

communication source

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media strategy

Neuromarketing is becoming more important in marketing as experts
realize that traditional research methods such as focus groups and surveys may
not be enough to understand what drives consumer purchase behavior due to:

It is not possible to
formulate questions without bias

Consumers cannot verbalize
their emotional responses

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The data obtained is not
quantifiable

The sample size is too
small

Which of the following transactions occurred in the marketspace?

Connie sold Discovery Toys
creative puzzles at an in-home demonstration.

Josh bought his mother a
menorah through the Source for Everything Jewish gift catalog by calling a
toll-free telephone number.

Corey bought a
double-dipped chocolate ice cream cone from the ice cream person when his
mobile ice cream truck came down the street.

Joan bought a brand new
pair of Dansko shoes through Zappos.com.

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Four trends in the past decade have significantly influenced the
landscape of global marketing. One of them is:

a decrease in most
countries’ GDPs and a renewal of nationalism.

the emergence of networked
global marketspace.

a more aggressive attitude
towards initiating international tariffs and quota systems.

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an
increase in most countries’ GDPs coupled with an increased degree of consumer
ethnocentrism.

The term branding
refers to __________.

the licensing of a name,
phrase, design, symbol, or combination of these for a period of 17 years, at
which time a firm may renew its intellectual property rights to them

an organization’s use of a
name, phrase, design, symbol, or combination of these to identify its products
and distinguish them from those of competitors

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the establishment of a
commercial, legal name under which a company does business

the identification of an
organization’s products based upon individual SKUs

The term branding
refers to __________.

the licensing of a name,
phrase, design, symbol, or combination of these for a period of 17 years, at
which time a firm may renew its intellectual property rights to them

an organization’s use of a
name, phrase, design, symbol, or combination of these to identify its products
and distinguish them from those of competitors

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the establishment of a
commercial, legal name under which a company does business

the identification of an
organization’s products based upon individual SKUs

The
initial step in the strategic marketing process is to begin planning by
conducting a _______.

situation (SWOT) analysis

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market-product analysis and
setting goals

diversification analysis

business portfolio
analysis.