Buy here: http://student.land/mkt-421-final-exam-2017-version/ 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

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

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

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

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

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

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.

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.

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.

the financial realities within the organization itself.

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

The number of hours you spend job searching

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

screening and evaluation

Customer value refers to:

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

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

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.

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.

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

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

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

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.

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.

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.

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.

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.

The study of similarities and differences among consumers in two or more nations or

societies is referred to as __________.