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are business units with products that have a dominant market share in high-growth markets.
What is an extranet?
A private, corporate computer network that links company departments, employees, and databases to suppliers, customers, and others outside the organization
A straight rebuy is a _____.
Buying situation in which business buyers make routine purchases that require minimal decision making
The pharmaceuticals division of Omni Healthcare holds low market share in a high growth market. In order to increase market share, managers would be most likely to decide which of the following?
According to the BCG growthdash–market share matrix, ________ are SBUs with products that have a dominant market share in high-growth markets.
How much profit they expect to make from a particular customer, including each and every purchase she will make from them now and in the future
A ______ exist when an unauthorized party imports products and then sells them for a fraction of the price of authorized products.
McDonald’s placement of a small toy in each Happy Meal as reward for coming to the fast-food restaurant and ordering its food is based on which theory of learning?
When considering the 4 p’s in international marketing, advocates of _____ focus on the unique characteristics of cultures and argue for products and promotional messages tailored to each culture.
An SBU fits into the _____ category of the BCG model when sales have been steady and the firm has a large market share it can sustain with minimal funding.
An implicit association test (IAT) is useful for showing hidden _____ biases.
Consumers’ decisions that are not perceived of as highly risky are more likely to be guided by _____.
The growth-market share matrix developed by the Boston Consulting Group (BCG) is a type of ____.
Maslow’s hierarchy of needs is based on which premise?
All of the above; all humans acquire a similar set of motives through genetic endowment and social interaction, some motives are more basic or critical than others, the more basic motives must be satisfied to a minimum level before other motives are activated, and as the basic motives become satisfied, more advanced motives come into play
Brand loyalty in the product choice step of the consumer decision-making process is an example of a _________.
The widespread use of RFID chips to relay information about products during distribution represents a change in the ______.
In general, companies that focus on a triple bottom line are most likely to place a priority on which of the following?
Cognitive learning theories assume that ______.
Which of the following best explains why marketers ate attracted to the BRIC countries?
These countries have masses of consumers who are not yet wealthy but are quickly moving to economic prosperity.
Customer satisfaction with a purchase is based on which of the following?
How the actual performance of the product compares to customer expectation of performance
Beautiful actresses appear in ads testifying to the quality of a brand of hair coloring products. This is an application of which learning theory?
In which kind of market would a production orientation be most successful?
A seller’s market in which demand is greater than supply
Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis?
Emily’s form markets preplanning services for mortician. She finds that most of her target market wants to avoid discussing future funeral needs, so she must somehow first get their attention. Emily’s firm most likely uses the _____.
Fence Patrol has developed an entirely new mounting system for chair link fences. Although they are a local company, through the acquisition of a distributor they now have the ability to market their products nationwide. Fence Patrol will most likely use a _____ strategy.
Firms that have a triple bottom line orientation measure success by their (1) financial successes, (2) how they contribute to their communities, and (3) how they _____.
Create sustainable business practices
Which of the following is limitation of the BCG matrix?
It doesn’t tell managers the best ways to make growth happen
A company that focuses on _____ is concerned with meeting present consumer needs without compromising the ability of future generations to meet their needs.
To successfully market the Corvette to the European market, General Motors had to make the automobile shorter and narrower. GM chose to use a ______ strategy with the Corvette.
1. Orkin pest control service know homeowners skimp on maintenance such as pest control during recession. It also knows that the more consumers know about bugs, the more likely they are to buy the company’s services. So Orkin teamed with the Smithsonian Institution on the Inset Safari, a traveling exhibit designed to teach people about the critters. The Safari truck visited 108 cities during one year, leaving a wake of creeped-out insectophoibes reaching for the phone numbers of the local Orkin franchise. Business increased in each city the Safari truck visited. Decisions on which cities to visit and what kinds of promotion to use in each city visited are both example of ______ plans.
IBM manager Celia Moore coordinates IBM’s long-standing Reinventing Educations program that involves intensive research into how educational institutions can use the fruits of new technologies to transform what they do. In the process, the program is actually helping to shape a market of significant interest to IBM “we see the program very much as an investment, rather than handing out money”, says Moore. The existence of this program indicates that IBM has a (n) ______ orientation.
Jane’s aunt want a cashmere blanket to put over her legs when she watches television from her favorite chair. Jane could drive 50 miles and pay $90 for the blanket, or she could order on off the internet for $168. Because Jane works fifty hours a week cares for 3 children, and tries to help her aunt, she opts to buy the blanket on the internet. This is an example of how ________ influences the consumer decision-making process.
A ____ describes the overall purpose of the organization and what it intends to achieve in terms of its customers, products, and resources.
According to the BCG growth-market share matrix, ____ are strategic business units (SBUs) with law market shares in fast growth markets.
According to the BCG growth-market share matrix, _____ are SBUs with a dominant market share in a low-growth-potential market.
Making decisions about how to best allocate resources across a company’s strategic business units (SBUs) to ensure growth for the total organization occurs during which step of strategic planning?
Introducing existing products to new markets is part of a _____ strategy.
What happens during the establish the business portfolio step of strategic planning?
Decisions are made about how to best allocate resources across a company’s strategic business units (SBUs) to ensure growth for the entire company.
_______ planning is a managerial decision process that matches an organization’s resources and capabilities to its market opportunities for long-term growth and survival.
Developing marketing strategies is the ______ step in the market planning process.
A decision process that concentrates on developing detailed plans for strategies and tactics for the short term, supporting an organization’s long-term strategic plan, is known as _____.
What is the seconding step in the strategic planning process?
In the operational planning process, using marketing metrics to monitor how the plan is working is the ____ step.
Supervisory managers are charged with the planning in the ________ stage.
Which growth strategy is designed to increase sales of existing products to current customers, nonusers, and users of competitive brands in served markets?
A document that describes the marketing environment, outlines the marketing objectives and strategy, and identifies who will be responsible for carrying out each part of the marketing strategy is known as ______.
Which of the following describes a mission statement?
A description of the overall purpose of the organization and what it intends to achieve in terms of its customers, products, and resources
An individual support plan included in a marketing plan that provides that guidance for implementation and control of the various marketing strategies within the plan is a ______.
According to the BCG growth-market share matrix, question marks are strategic business units (SBUs) with ________.
Low market shares in fast-growth markets
According to the BCG growth-market share matrix, stars are strategic business units (SBUs) with _____.
Products that have a dominant market share in high-growth markets
What is a SWOT analysis?
An analysis of an organization’s strengths and weaknesses and the opportunities and threats in its external environment
What is a control?
A process that entails measuring actual performance, comparing this performance with the established marketing objectives, and then making adjustments to the strategies or objectives on the basis of this analysis
Which of the following describes an operational plan?
A plan that focuses on the day-to-day execution of the marketing plan
Which of the following describes the external environment?
The uncontrollable elements outside an organization that may affect its performance either positively or negatively
What is the first step in market planning?
If a firm is measuring return on marketing investment (ROMI), the company is at which step in the marketing planning process?
Marvel Entertainment would be considered a ________ on Disney's BCG growth-market share matrix because it creates films such as The Avengers that dominant market share and generate large revenues, but require large amounts of funding to keep up with production and promotion demands.
In step 2 of the strategic planning process, a firm analyzes its strengths and weaknesses and the opportunities and threats in its internal and external environment. What is this analysis called?
________ is a portfolio analysis model developed by the Boston Consulting Group that assesses the potential of successful products to generate cash that a firm can then use to invest in new products.
A ________ refers to the group of different products or brands owned by an organization and characterized by different income-generating and growth capabilities.
Step 2 in the marketing planning process involves ________, which is specific to the firm's brands, sizes, product features, and other marketing-mix elements.
As part of the strategic planning process, step 4 includes conducting a ________, which evaluates a firm's business mix and assesses the potential of an organization's strategic business units.
Which growth strategy do marketers employ to increase sales with existing products to existing markets such as current users and ex-users?
In consumer markets, __________.
Purchases are often based on brand reputation with little or no product expertise
Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response on its own but will cause a similar response over time because of its association with the first stimulus
Which of the following is a marketing technique that links distinct sensory experiences such as a unique fragrance with a product or service?
What is the last step in the consumer decision-making process?
Which of Maslow’s needs describes by love, friendship, and acceptance by others?
Which is the second step in the business buying decision process?
Which of the following describes the hundreds of millions of global consumers who now enjoy a level of purchasing power that’s sufficient to let them afford high-quality products, excluding big-ticket items?
Which of the following describes business-to-business (B2B) markets?
The group of customers that includes manufacturers, wholesalers, retailers, and other organizations
The process by which people select, organize, and interpret information from the outside world is known as __________.
Which of the following describes cognition?
The knowing component of attitude; it refers to the beliefs or knowledge a person has about a product and its important characteristics
__________ is the process where individuals or groups select, purchase, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires.
Which of the following describes an opinion leader?
One who is frequently able to influence others’ attitudes or behaviors by virtue of one’s active interest and expertise in one or more product categories
Information search is that stage of the buyer decision process in which the consumer __________.
Mishael has narrowed down her new tablet choices to two different options. She weighs the pros and cons of each tablet that she is considering buying. In this scenario, in which step of the consumer decision-making process is Mishael?
Evaluation of alternatives
What is crowdsourcing?
A practice in which firms outsource marketing activities to a community of users
__________ are the group of customers that includes manufacturers, wholesalers, retailers, and other organizations.
__________ is that stage of the consumer decision-making process in which the consumer is motivated to search for more data on the product.
Problem recognition is the __________ step in the consumer decision-making process.
__________ is marketing strategies that involve the use of Internet search engines.
Which of the following describes resellers?
The individuals or organizations that buy finished goods for the purpose of reselling, renting, or leasing to others to make a profit and to maintain their business operations
What is search marketing?
Marketing strategies that involve the use of internet search engines
The ____ is the member of the buying center who makes the final decision. This person usually has the greatest power within the buying center, and often has the power to authorize spending of the company’s money.
Which of the following refers to demand in which changes in price have little or no effect on the amount demanded?
A ____ refers to the routine purchases of items that a B2B customer regularly needs. The buyer has purchased the same item many times and routinely reorders them when supplies are low, often from the same suppliers.
Which of the following is a step in the B2B buying decision process that Eaton’s customers would likely go through?
Problem recognition, information search, selecting the product and supplier, and evaluating post-purchase
A company might even ask one or more of its current customers to participate in _____. In these situations, customers formally share success stories and actively recommend products to other potential clients, often as part of an online community composed of people with similar needs.
Dimensions of the physical environment create arousal and pleasure and can determine how consumers react to the environment. Which of the elements are considered to be situational influences on buyer behavior?
Time of day, season of the year, and how much time one has
If a consumer is experiencing cognitive dissonance regarding his or her purchase, the consumer is what step of the consumer decision making process?
Many consumers are becoming very aware of the social and environmental consequences of their purchases – and making their decisions accordingly. Which of the following refers to the social movement directed toward protecting consumers from harmful business practices?
Which of the following terms refers to the extent to which a person’s sensory receptors are capable of registering a stimulus?
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