Marketing Test 1

Marketing

Is a set of activities used to implement a management orientation that stresses customer satisfaction.

Relationship Marketing

Is a strategy that entails forging long-term partnerships with customers.

Portfolio Mix

The ... is a tool for allocating resources among products or strategic business units on the basis of relative market share and market growth rate.

Development

The starting point of any firms marketing mix is the ... of the good or service to be sold.

Distribution Strategies

Making sure products are available when and where customers want them is the job of which element of the marketing mix?

C. Personal Selling, advertising, sales promotion, and public relations

The promotion strategy of the marketing mix deals exclusively with:

Question Mark

John R. Harland Company is best known for printing checks. Its Financial Solutions division develops software for mortgage companies. This division is currently producing much less than the desired level of profitability in what has been identified as a h

Star

Russel Athleticwear was a market leader in the sports apparel industry, an industry that is growing rapidly. With Berkshire Hathaway Incs recent purchase of Russel Corporation, it becomes SBU, but it is still an example of a ... according to the portfolio

Pricing

Which of the marketing mix strategies is the most flexible?

False

True or False: Many companies have found issuing a policy on ethical behavior is the only action necessary to ensure employees will comply with expected standards.

Social Welfare

Social responsibility is defined as the concern for ... by businesses

Demography

The study of people's vital statistics, such as their ages, births, deaths, and locations, is called:

Values

Which of the following is NOT a demographic characteristic of a population?

Baby Boomers

The large group of people in the United States who were born between 1946 and 1964 are known as:

True

True or False: Having a global vision means management recognizes and reacts to international marketing opportunities, is aware of threats from foreign competitors in all markets, and effectively utilizes international distribution networks.

False

True or False: Multinational companies typically begin the development of their global business with direct investment and continue using this strategy throughout the company's life span

True

True or False: Just as mass marketing assumes a large market made up of consumers who are alike, global marketing assumes markets throughout the world are becoming more alike

True

True or False: The same environmental factors that operate in the domestic market also exist internationally. These factors (culture, economic development, political and legal structure, demographics, and natural resources) should be examined regardless o

True

True or False: Even if all parties to a global business transaction are fluent in a common language, other cultural norms could interfer with the communication process.

False

True or False: NAFTA is the New American Free Trade Amendment, which allows for balanced trade with the European Union (EU)

Practicing global marketing

Individuals and organizations utilizing a global vision to effectively market goods and service across national boundaries are engaged in:

All of the above

Which of the following statements about global marketing is true?

Multinational Corporation

A ... is a company that is heavily engaged in global trade and moves its resources, goods, services, and skills across national boundaires

The family life cycle

Is an orderly series of stages in which consumers' attitudes and behavioral tendencies change over time

Joint Venture

FedEx entered into an alliance with Chronopost Internationale, a subsidiary of the French post office. Under this alliance, FedEx will transport French International shipments in its aircraft, and the French postal service will deliver FedEx packages acro

Global Marketing Standardization

Presumes markets throughout the world are becoming more alike

Language

Which of the following is an important cultural factor that should be considered by global marketers?

Tariff

A tax levied on the goods entering a country is called a

Trade

Negotiations between countries that are made to stimulate global exchange and remove barriers are called ... agreements

Exporting

Which method of entering the global marketplace would be LEAST risky?

Consumer Behavior

Marketers often study ..., the processes used and the factors that influence the consumer when making purchase decisions

C. Need recognition, information search, evaluation of alternatives, purchase, and post purchase evaluation

The steps of the consumer decision-making process in order are:

Language is an important aspect of culture

Which of the following statements about culture as an influence on consumer buying behavior is true?