1. \ufffd 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.\tmarketing dashboard\tmarketing plan\toperation plan\tmission statement\t\u00a0\t\u00a0\t2. \ufffd What is meant by “accelerating the process?”\ufffd\tIncrease advertising costs during product launch\tSpeed up new product time to market\tIdentify major competitors early\tCreate a new market space\t\u00a0\t\u00a0\t3. \ufffd The product life cycle refers to __________.\ta concept that describes the stages a new product goes through from product concept to commercialization\tthe average life span of a product\ta concept that describes the stages a product goes through in the marketplace”\ufffdearly growth, accelerated development, maturity, and decline\ta concept that describes the stages a product goes through in the marketplace”\ufffdintroduction, growth, maturity, and decline\t\u00a0\t4. \ufffd Jay stops at the shopping mall to purchase a new pair of jeans from the Diesel store.\u00a0 He is the ultimate consumer in a pipeline from the producer through intermediaries, including the clothing store. This pipeline is actually a _______.\tmarketing channel\tmarketing tunnel\tconsumer market\tdistribution matrix\t5. \ufffd What is the marketing objective for the growth stage of the product life cycle?\tmaintain brand loyalty\tminimize promotion\tincrease market share\tstress differentiation\t\u00a0\t\u00a0\t6. \ufffd Marketing refers to:\tthe production of products or services that will generate the highest return on investment.\tthe activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.\tthe activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers.\tthe process of identifying target market segments for a product or service.\t\u00a0\t7. \ufffd Variables such as location, the North American Industry Classification System (NAICS) code, and type of buy are all examples of ways to:\tpromote NAFTA.\tsegment an organizational market.\tforecast sales to a consumer market.\tdifferentiate products.\t\u00a0\t8. \ufffd While pricing objectives frequently reflect corporate goals, pricing constraints often relate to:\tstockholder demands.\tconditions existing in the marketplace.\tan organization’s code of ethics.\tthe financial realities within the organization itself.\tIn personal branding, the “price”\ufffd component of the marketing mix refers to:\tThe number of hours you spend job searching\tThe annual cost of maintaining online profiles (such as LinkedIn)\tThe expense associated with job-hunting\tThe salary range and job benefits you hope to receive\t9. \ufffd At Mattel, Barbie is child-tested to be sure the doll cannot be broken apart and accidentally choke a child.\u00a0 This type of consumer or safety test occurs during the __________ stage of the new-product process.\tnew-product strategy development\tmarket testing\tdevelopment\tscreening and evaluation\tCustomer value refers to:\t\u00a0\t10.\u00a0 the cluster of benefits that an organization promises customers to satisfy their needs.\tthe need of\u00a0 a customer to receive the highest quality product at the lowest possible price.\ta 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.\tthe 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.\t\u00a0\t11.\u00a0 Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.\tidea generation\tproduct development\topen innovation\tnew-product strategy development\t\u00a0\t12.\u00a0 The goal of a SWOT analysis is to:\tidentify market research questions in order to develop new products for new market segments.\tdetermine how raises, bonuses, and dividends will be paid.\tidentify the critical strategy-related factors that can impact the firm.\treorganize the firm’s marketing department.\t\u00a0\t13.\u00a0 Marketing research refers to:\tthe science of using observable human behavior in order to identify and solve marketing problems.\tthe process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.\tthe use of information technology to find objective solutions to a marketing problem.\tthe process of systematically collecting and analyzing information in order to define a marketing problem.\tThere is no single “generic”\ufffd marketing plan that can apply to all organizations or all institutions.\u00a0 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 ________.\tavailable resources\tthe financial investment needed\tthe competition\tthe target audience and purpose\t\u00a0\t14.\u00a0 Which of the following conditions are necessary for marketing to occur?\ta quality product, a fair price, a clever method of promotion, and a place where a customer can buy the product\ttwo or more people, a product, a reasonable price, and a place to make an exchange\ttwo or more people, a method of assessing needs, a way to communicate, and an exchange\ttwo or more parties with unsatisfied needs, a desire and an ability to satisfy them, a way to communicate, and something to exchange\t\u00a0\t\u00a0\t15.\u00a0 Environmental scanning refers to:\tassessing any possible negative impact a firm’s activities might have on the local ecology.\tsetting up a regular schedule to assess the performance of different divisions within a firm.\t\u00a0\t16.\u00a0 Relationship selling refers to:\tthe assignment of a single salesperson to a single customer throughout the entire sales process.\tthe practice of\u00a0 building ties to customers based on a salesperson’s attention and commitment to customer needs over time.\twhen suppliers and sellers combine their expertise and resources to create customized solutions;\t\u00a0\t\u00a0\t17.\u00a0 A global marketing strategy refers to:\tthe 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.\tthe 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.\tthe strategy of transnational firms that employ the practice of standardizing marketing\u00a0 activities when there are cultural similarities and adapting them when cultures differ.\tthe strategy used by multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business.\t\u00a0\t\u00a0\t18.\u00a0 Segmentation based on some subjective mental or emotional attributes, aspirations, or needs of prospective customers is referred to as:\tsocioeconomic segmentation.\tpsychosocial segmentation.\taffective segmentation.\tpsychographic segmentation.\t\u00a0\t\u00a0\t\u00a0\t\u00a0\t19.\u00a0 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) _______.\tparticipating in a buying cooperative\tbecoming a secret shopper\tusing a shopping “bot”\ufffd to search for a product at locations with the best price\tbecoming a member of a research group that evaluates new products\t\u00a0\t\u00a0\t20.\u00a0 The term branding refers to __________.\tthe 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\tan organization’s use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors\tthe establishment of a commercial, legal name under which a company does business\tthe identification of an organization’s products based upon individual SKUs\tComputer-based networks that trigger actions by sensing changes in the real or digital world are known as:\tglobal marketing platforms.\tconvergent systems.\tintelligence technologies.\tsmart systems.\t\u00a0\t\u00a0\t21.\u00a0 In the nonprofit world of the performing arts, box office technology has essentially remained the same since the 1980s.\u00a0 A company called Tessitura is trying to change that.\u00a0 Tessitura is able to track every transaction with its patrons in one database.\u00a0 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.\u00a0 In other words, Tessitura will allow arts groups to engage in:\tmainstream marketing\tsocietal marketing\trelationship marketing\tmarket aggregation\t\u00a0\t\u00a0\t22.\u00a0 Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that make up a firm’s __________.\tmarketing mix\tpromotional mix\tcommunication source\tmedia strategy\t23.\u00a0 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:\tIt is not possible to formulate questions without bias\tConsumers cannot verbalize their emotional responses\tThe data obtained is not quantifiable\tThe sample size is too small\t24.\u00a0 The study of similarities and differences among consumers in two or more nations or societies is referred to as __________.\ttransnational finance\tmarket synthesis\tcross-cultural analysis\tinternational sociographics\t\u00a0\t\u00a0\t\u00a0\t25.\u00a0 Which of the following transactions occurred in the marketspace?\tConnie sold Discovery Toys creative puzzles at an in-home demonstration.\tJosh bought his mother a menorah through the Source for Everything Jewish gift catalog by calling a toll-free telephone number.\tCorey bought a double-dipped chocolate ice cream cone from the ice cream person when his mobile ice cream truck came down the street.\tJoan bought a brand new pair of Dansko shoes through Zappos.com.\t\u00a0\t26.\u00a0 Four trends in the past decade have significantly influenced the landscape of global marketing.\u00a0 One of them is:\ta decrease in most countries’ GDPs and a renewal of nationalism.\tthe emergence of networked global marketspace.\ta more aggressive attitude towards initiating international tariffs and quota systems.\tan increase in most countries’ GDPs coupled with an increased degree of consumer ethnocentrism.\t\u00a0\t27.\u00a0 The term branding refers to __________.\tthe 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\tan organization’s use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors\tthe establishment of a commercial, legal name under which a company does business\tthe identification of an organization’s products based upon individual SKUs\t\u00a0\t30\tThe initial step in the strategic marketing process is to begin planning by conducting a _______.\tsituation (SWOT) analysis\tmarket-product analysis and setting goals\tdiversification analysis\tbusiness portfolio analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"
1. \ufffd 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 \u00a0 \u00a0 2. \ufffd Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-228865","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/228865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=228865"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/228865\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=228865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=228865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=228865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}