Chapter 1MKT_315 MIDTERM_CHAPTERS1 TO 4

Marketing: the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large Marketing Concept: the business orientation model that involves creating value and satisfying consumer needs Marketing Mix: consists of four elements: product, place, price, and promotion, also called the 4 Ps Marketing Plan: a tool used to set up various elements of a company's marketing strategies and develops an accompanying tactical plan Marketing Strategy: describes what the business wants to achieve in its marketing efforts SWOT Analysis a tool an organization uses to analyze its strengths, weaknesses, opportunities, and threats What is the process that determines what is needed, how to collect it, analyze it, and use it for effective market planning? b. marketing information system Pete's Car Wash will donate 10% of Platinum Car Wash purchases to feed the homeless. This is an example of ? C. Cause Marketing Ginger Jones was reading an interesting newspaper article that discussed the diverse culture of a foreign land. However, by the time she finished reading the article, she discovered that the content was actually an advertisement for a travel company. This is an example of . C. native advertising Which is the key strategic decision in formulating a marketing plan? D. all of the above What is the process called when the wholesalers and manufacturers segment their markets much the same way as retailers? C. B2B segmentation The process of developing and executing strategies and tactics to market and sell a product or service to a very specific target segment is: a. micromarketing Which of the following options is not used in SWOTT analysis to set a direction in the brand of a highly competitive marketplace? D. planning Which of the following is not an economic factor: b. Customer's data Marketing includes which of the following activities? Pricing a product What is the process called when the wholesalers and manufacturers segment their markets much the same way as retailers? B2B segmentation Which is NOT a key strategic decision in formulating a marketing plan? Creation of the logo and tagline Which of the following key perspectives is not considered while performing the situation analysis? Suppliers The Marketing Concept Era is designated between: 1960s-1970s Who is required to have multiple decision-makers in order to appeal to multiple stakeholders for a single purchase? B2B marketers Government regulations, suppliers, competitors, the economy, business trends, finances, and the weather are? Opportunities and threats? In the late 1990s, which of the following was third place in the minds and wallets of worldwide consumers? MasterCard The process of developing and executing strategies and tactics to market and sell a product or service to a very specific target segment is: Micromarketing When few sellers control most of the sales, it is: Oligopoly Which of the following options is not used in SWOTT analysis to set a direction in the brand of a highly competitive marketplace? Segmentation Which of the following refers to specific, measurable, achievable, relevant, and timely, and pertains to formulation of organizational objectives that are clear and measurable? SMART goals The process of gathering information about events and their relationships within an organization's internal and external environment is: Environmental scanning Which of the options below enables marketers to understand when they have achieved the goals of success throughout the plan, and allows them to quickly recognize areas that may be off-track in order to resolve them? Key performance indicators A detailed marketing plan does not include: Marketing mix What is the process that determines what is needed, how to collect it, analyze it, and use it for effective market planning? Marketing information system Which is helpful for the marketers to evaluate between risk and reward? Ansoff matrix Social factors include: Demographics, culture, and norms Which of the following is not an economic factor: Customer's data Chapert 2 Examples of neuromarketing research are: All of the above What is market segmentation? Dividing the entire market into groups of consumers What are Marketing Objectives/strategies? Written plans addressing significant marketing problems and opportunities. What does brand development index (BDI) represent: sales potential of a brand what relates to how above average or how below average sales are compared to the population demo? Index