MKT 421 FINAL EXAM 2016A __________ is a road map for the marketing activities of an organization

MKT 421 FINAL EXAM 2016A __________ is a road map for the marketing activities of an organization

for aspecified future time period, such as one year or five years.marketing dashboardmarketing planoperation planmission statementWhat is meant by “accelerating the process?”Increase advertising costs during product launchSpeed up new product time to marketIdentify major competitors earlyCreate a new market spaceThe product life cycle refers to __________.a concept that describes the stages a new product goes through from productconcept to commercialization the average life span of a producta concept that describes the stages a product goes through in the marketplace—earlygrowth, accelerated development, maturity, and declinea concept that describes the stages a product goes through in the marketplace—introduction,growth, maturity, and declineJay stops at the shopping mall to purchase a new pair of jeans from the Diesel store. He is theultimate consumer in a pipeline from the producer through intermediaries, includingthe clothing store. This pipeline is actually a _______.marketing channelmarketing tunnelconsumer marketdistribution matrixWhat is the marketing objective for the growth stage of the product life cycle?maintain brand loyaltyminimize promotionincrease market sharestress differentiationIn the nonprofit world of the performing arts, box office technology has essentially remained thesame since the 1980s. A company called Tessitura is trying to change that. Tessitura is able totrack every transaction with its patrons in one database. The information collected includes ticketpurchases, 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 specificindividuals. In other words, Tessitura will allow arts groups to engage in:mainstream marketingsocietal marketingrelationship marketingmarket aggregationMarketing 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 itscustomers, the organization, its stakeholders, and society at large.the activity involved in getting a product or service from the manufacturer to ultimateconsumers and organizational buyers.

MKT 421 FINAL EXAM 2016A __________ is a road map for the marketing activities of an organization

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 searchingThe annual cost of maintaining online profiles (such as LinkedIn)The expense associated with job-huntingThe salary range and job benefits you hope to receiveAt Mattel, Barbie is child-tested to be sure the doll cannot be broken apart andaccidentally choke a child. This type of consumer or safety test occurs during the__________ stage of the new-product process.new-product strategy developmentmarket testingdevelopmentscreening and evaluationCustomer value refers to:the cluster of benefits that an organization promises customers to satisfy their needs.

MKT 421 FINAL EXAM 2016A __________ is a road map for the marketing activities of an organization

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 targetmarket; (2) specific customers’ needs, wants, and preferences; and (3) what the product willbe 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 generationproduct developmentopen innovationnew-product strategy developmentThe goal of a SWOT analysis is to:identify market research questions in order to develop new products for new marketsegments. determine how raises, bonuses, and dividends will be paid.identify the critical strategy-related factors that can impact thefirm. 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 andanalyzing 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 amarketing problem.There is no single “generic” marketing plan that can apply to all organizations or allinstitutions. Rather, the specific format for a marketing plan for an organization depends onthe following: the industry, the kind and complexity of the organization, and ________.available resourcesthe financial investment neededthe competitionthe target audience and purposeWhich 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 customercan buy the producttwo or more people, a product, a reasonable price, and a place to make an exchangetwo or more people, a method of assessing needs, a way to communicate, and an exchangetwo or more parties with unsatisfied needs, a desire and an ability to satisfy them, away to communicate, and something to exchangeOnline 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 cooperativebecoming a secret shopperusing a shopping “bot” to search for a product at locations with the best pricebecoming a member of a research group that evaluates new productsEnvironmental scanning refers to:

MKT 421 FINAL EXAM 2016A __________ is a road map for the marketing activities of an organization

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 andinterpret potential trends.initiating an internal talent search to identify employees who can think “outside the box” togenerate 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 andcommitment to customer needs over time.when suppliers and sellers combine their expertise and resources to create customizedsolutions; commit to joint planning; and share customer, competitive, and companyinformation for their mutual benefit, and ultimately the customer.the practice of maintaining contact with a customer on a regularly scheduled basis followingthe 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 internationalmarket, 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 therights 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 marketingactivities when there are cultural similarities and adapting them when cultures differ.the strategy used by multinational firms that have as many different product variations, brandnames, 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 ordigital 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 nationsor societies is referred to as __________.transnational financemarket synthesiscross-cultural analysisinternational sociographicsAdvertising, personal selling, sales promotion, public relations, and direct marketingare marketing communications alternatives that make up a firm’s __________.marketing mixpromotional mixcommunication sourcemedia strategyNeuromarketing is becoming more important in marketing as experts realize thattraditional research methods such as focus groups and surveys may not be enough tounderstand what drives consumer purchase behavior due to:It is not possible to formulate questions without biasConsumers cannot verbalize their emotional responsesThe data obtained is not quantifiableThe sample size is too smallWhich 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 bycalling a toll-free telephone number.Corey bought a double-dipped chocolate ice cream cone from the ice cream person when hismobile ice cream truck came down the street.Joan bought a brand new pair of Dansko shoes through Zappos.com.Four trends in the past decade have significantly influenced the landscape of globalmarketing. 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.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 17years, at which time a firm may renew its intellectual property rights to theman organization’s use of a name, phrase, design, symbol, or combination of these to identify itsproducts and distinguish them from those of competitorsthe establishment of a commercial, legal name under which a company does businessthe identification of an organization’s products based upon individual SKUsThe term branding refers to __________.the licensing of a name, phrase, design, symbol, or combination of these for a period of 17years, at which time a firm may renew its intellectual property rights to theman organization’s use of a name, phrase, design, symbol, or combination of these to identify itsproducts and distinguish them from those of competitorsthe establishment of a commercial, legal name under which a company does businessthe identification of an organization’s products based upon individual SKUsThe initial step in the strategic marketing process is to begin planning by conducting a _______.situation (SWOT) analysismarket-product analysis and setting goalsdiversification analysisbusiness portfolio analysis. https://charteredessay.com/mkt333case-study-7-a%c2%80%c2%93-legolego-is-a-family-owned-toy-maker-that-was-founded-by-the-kirk-kristiansen-family-in-billund/

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