is best defined as the process of continuously obtaining information on events happening outside a company to recognize and interpret possible trends that
... [Show More] affect marketing.
Relationship marketing Digital marketing
Customer relationship management
Environmental scanning
A is often referred to as a business firm.
government agency nonprofit organization publicly owned organization
for-profit organization
The refers to the seven stages a company goes through to recognize opportunities and convert them into sellable services or products
service gap analysis strategic focus and plan
new-product process
psychographic segmentation process
differentiates retail outlets depending on whether contractual systems, independent retailers, or corporate chains own the outlet.
Form of ownership Retail servicing Level of service Merchandise line
Which of the following is true of the price equation?
Extra fees are not part of the price equation.
Sellers subtract the add-on charges from the list price.
The amount paid by customers is always the same as the quoted price.
Customers are more inclined to pay additional fees than a higher list price.
A society’s represent socially or personally preferable states of existence or modes of
conduct that persist over time.
languages symbols
values customs
segmentation is done according to an objective measurable, physical, or other classification attribute of potential consumers.
Psychographic
Demographic Behavioral Geographic
A is any word, device (shape, design, color, or sound), or combination thereof used to
differentiate a seller’s services or products
brand name trade name trademark
brand personality
Yes Music is the authorized distributor for products of Trompa Instruments, a popular manufacturer of trumpets and other brass instruments. Yes Music purchases products from Trompa and distributes them to music stores across the country. What kind of intermediary function does Yes Music perform for Trompa?
Managerial Facilitating
Transactional Logistical
The idea of the describes the phases a new product goes through in the marketplace.
product life cycle
strategic marketing process new-product process marketing life cycle
are small, downloadable software programs that work on tablet devices and smartphones.
Algorithms
Apps Databases RFIDs
is the combination of benefits such as convenience, quality, and on-time delivery provided to targeted buyers by firms at a particular price.
Customer value Seller Value Manufacturer value Business value
The sells a marketing plan to readers by being clear and direct.
mission statement
executive summary company description strategic focus and plan
relate to the effort spent in making sales.
Marketing input data Marketing outcome data Observational data Primary data
What is the difference between a marketing plan and a business plan?
A marketing plan deals with marketing actions, whereas a business plan addresses the entire organization.
A marketing plan contains a description of an organization, whereas a business plan does not contain any description.
A marketing plan contains details on operations, research, and manufacturing, whereas a business plan
does not.
A marketing plan addresses the financial projections of an organization, whereas a business plan does not
Darby’s Burgers Ltd. uses the best quality meats in its burgers. However, this fact is not being marketed well to its potential consumers, leading to a decline in sales. There is a growing demand for quality meat products among the health-conscious that could work in Darby’s favor. However, Darby’s must compete with fast-food chains that offer burgers at low prices. Which of the following
statements describes Darby’s weakness according to SWOT analysis?
There is a growing demand for quality meat products among the health-conscious.
Darby’s must compete with fast-food chains that offer cheap burgers.
Darby’s quality is not well-marketed or advertised to its potential consumers.
Darby’s uses good quality meats in its burgers.
is the act of using quotas or tariffs to shield one or more industries within a country’s
economy from foreign competition.
Commercialism Centralism Provincialism
Protectionism
The of the environment include the population and culture’s demographic characteristics.
technological forces competitive forces
social forces economic forces
The trade of offerings of value between a buyer and a seller, resulting in mutual benefit, is called a(n)
.
exchange advertisement communication marketing mix
The shares of Agro Textiles Ltd. are valued lower than its competitors. To increase its value, the company decides to study its current situation and see how it can improve itself. Which of the following strategic marketing processes should be used by Agro to analyze its situation?
Marginal analysis Break-even analysis
Business portfolio analysis
SWOT analysis
A is when manufacturers direct their promotional efforts toward channel partners to convince them to order and stock products.
multi-marketing strategy pull strategy
push strategy skimming strategy
What is the difference between advertising and personal selling?
Advertising is always a paid activity to sell a product, whereas personal selling involves no direct payment to sellers.
Advertising can control the amount of wasted coverage, whereas personal selling cannot control the amount of wasted coverage.
Advertising does not have an immediate feedback loop, whereas personal selling does because of direct interaction with potential consumers.
Advertising uses customized interaction between sellers and potential consumers, whereas personal selling sells to a large group of potential consumers. [Show Less]