2400 Final Exam Review

In a target market, the elements are controllable and do not change.

Convenience products require wide distribution in order to sell sufficient quantities.

Research that attempts to develop new or improved products is called basic research.

In the portfolio matrix, a business unit that generates more cash than it needs to maintain its market share is called a

Inelastic demand means that the price can increase and the sales not drop.

Coordinates/integrates all activities performed by the supply chain members into a seamless process.

Which of the roles of marketing research is concerned with gather/presenting factual statments?

In a societal marketing orientation, the organization exists also to preserve the society's long-term benefits.

This function of marketing research addresses the "what if" questions.

Which of the following ethical theories is defined as a belief in time-and-place ethics?

Enables customers to return products to the retailer or manufacturer.

Buying/managing transportation and warehousing are logistical functions and typically lend themselves to _.

All activities directly related to the sale of goods/services to the ultimate consumer for personal, nonbusiness use.

Understanding international marketing opportunities, using effective global marketing strategies and knowing threats.

A shopping product is usually more expensive and requires comparative shopping.

Global market differentiation is the production of uniform products that can be sold the same way worldwide.

Market segmentation on the basis of personality, motives, lifestyles, and geodemographics.

A customer's assessment of whether an organization's goods/services met their expectations.

__ exists when one party has confidence in an exchange partner's reliability and integrity.

Customer value is the relationship between benefits and the sacrifice necessary to obtain those benefits.

Pricing policy that entails charging a low price for a product when first rolled out as a way to reach the mass market.

The 1st step in the marketing research problem is to collect primary data.

A sales-oriented firm defines its business in terms of the benefits its customers seek.

Quota refers to a limit on the amount of a specific product that can enter a country.

Demography is the study of people's vital statistics, such as age, race and ethnicity, and location.

A group of people/organizations that an organization designs a marketing mix intended to satisfy that group.

The price charged to customers multiplied by the number of units sold.

Refers to a type of social responsibility concerned with developing processes that benefit future generations.

A group of brands that results from an info search that a buyer can choose among is the buyer's _.

A company that is heavily engaged in global trade, beyond exporting and importing, is called...

Relationship marketing has become more important than before because competition has become more intense.

When evaluating services, a(n) _ quality is a characteristic that can be assessed only after use.

The inability of services to be stored, warehoused, or inventoried is _.

Specialty products are widely distributed in a geographic area so large quantities can be sold.

Pricing policy where a firm charges a high intro price, often coupled with heavy promotion.

One disadvantage of test marketing is that it exposes the new product to competitors before introduction.

The originator of a trade name, product, and methods of operation that grants operating rights to another party to sell.

The retailing mix consists of 6 Ps: the 4 Ps plus presentation and personnel.

Marketing-controlled info source is a product info source that originates with marketers promoting the product.