Principles of Marketing Chapter 3 w/ Practice Quiz

Marketing information system (MIS)
People, equipment, and procedures to gather, sort , analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers
Internal databases
Electronic collections of information obtained from data sources within the company
Marketing intelligence
The systematic collection and analysis of publicly available information about competitors and developments in the marketing environment
Marketing research
The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization
Exploratory research
Marketing research to gather preliminary information that will help define problems and suggest hypotheses
Descriptive research
Marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers
Casual research
Marketing research to test hypotheses about cause-and-effect relationships
Secondary data
Information that already exists somewhere, having been collected for another purpose
Primary data
Information collected for the specific purpose at hand
Online databases
computerized collections of information available from online commercial sources or via the internet
Observational research
The gathering of primary data by observing relevant people, actions, and situations
Survey research
The gathering of primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior
Single-source data systems
Electronic monitoring systems that link consumers exposure to television advertising and promotion (measured using television meters)
Environmental research
The gathering of primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses
Focus group interviewing
Personal interviewing that involves inviting 6 to 10 people to gather for a few hours with a trained interviewer to talk about a product, service, or organization. The interviewer “focuses” the group discussion on important issues.
Online (Internet) marketing research
Collecting primary data through Internet surveys and online focus groups
Sample
A segment of the population selected for marketing research to represent the population as a whole
Customer relationship management (CRM)
The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction
The 83 million children born between 1977 and 2000 are known as the ________.
Millennials
A company’s marketing decisions may be questioned by consumer organizations, environmental groups, minority groups, and others. These organizations and groups are also known as ________.
Citizen-Action Publics
Workers, managers, and members of the board are examples of ________ publics.
Internal Publics
Which of the following is an accurate statement about the diversity of the American population?
More than 12% of people living in the US were born in another country
Governments develop public policy to ________.
Guide Commerce
The so-called green movement encouraged companies to ________.
Go beyond government regualtions
By 2050, ________ will be an estimated 30 percent of the U.S. population.
Cape Sky Inc., an international insurance and financial services company, is the primary sponsor of the annual New York City Marathon, which is attended by over one million fans and watched by approximately 300 million viewers worldwide. The Cape Sky logo and name are displayed throughout the race course. Cape Sky most likely sponsors this event in order to appeal to which of the following types of publics?
General Public
Which group includes neighborhood residents and community organizations?
Local Publics
Which of the following is most likely true with regard to people’s views of organizations in contemporary America?
The past two decades have seen a sharp decrease in confidence in and loyalty toward America’s business organizations.
Business markets buy goods and services for further processing or use in their production processes.
True
A company’s marketing environment excludes the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers.
True
The ________ environment consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society.
Economic
Companies in several industries have recognized the buying power of the LGBT segment of the U.S. population and have begun explicitly targeting these consumers with gay-specific ads and marketing efforts.
True
When a company hires lobbyists to influence legislation affecting its industry, it is taking a defensive stance toward the marketing environment.
False
The microenvironment consists of larger societal forces that affect a company, such as demographic, economic, political, and cultural forces.
False
The macroenvironment consists of the factors close to the company that affect its ability to serve its customers, such as suppliers, customer markets, competitors, and publics.
False
Consumers in the “lifestyles of health and sustainability” (LOHAS) market are more likely to seek ________.
Alternative Medicine
________ provide the resources needed by a company to produce its goods and services.
Suppliers
A pastor from Kansas believes that adultery is immoral. This refers to the pastor’s ________.
Core Belief
A firm dumping chemical wastes in the local waterbody is ________.
Contributing to increased pollution
The single most important demographic trend in the United States is the ________.
The aim of the entire value delivery network is to serve target customers and create strong relationships with them.
True
________ help companies stock and move goods from their points of origin to their destinations.
Physical Distribution Firms
The introduction of new technologies is equally beneficial to all industries.
False
Marketing success requires building relationships with other company departments, suppliers, marketing intermediaries, competitors, various publics, and customers, which combine to make up the company’s value delivery network.
True
The single most important demographic trend in the United States that marketers should understand is the changing family structure of the population.
False
Which of the following is a component of a firm’s microenvironment?
Marketing Intermediaries
Laws are passed to define and prevent unfair competition primarily because ________.
Businesses sometimes try to neutralize threatening firms
Currently, in the United States, job growth is the weakest for ________.
Manufacturing Workers