6. Competitive advantage can be achieved through:
a) Research & Development (R&D) d) Production
b) Distribution strategies e) All of these
c) Marketing communications
7. The process used by organizations and companies to track political, technological, economic, social and population
trends is described as ___________________:
a) Gamesmanship
b) Marketing Roulette
c) Delphi Technique
d) Environmental Screening or Situational Analysis
e) Marketing Myopia
8. As discussed in class, this business philosophy is focused upon achieving the highest manufacturing output so the
unit cost is low:
a) Sales orientation
b) Social marketing concept
c) Production orientation
d) Maximization
11. The ___________________ decision process is typically used when organizations wish to make
significant expenditures involving new vendors and products and/or services:
a) Rebuy
b) Modified rebuy
c) New Task or Buy
d) Delphi Method
12. A firm that seeks to develop new products/services for new customers and markets is using a ___________
______________marketing strategy:
a) Market penetration
b) Market development
c) Product development
d) Diversification
13, Which of the following is not a source of secondary data:
a) Government reports
b) Industry research
c) Trade publications
d) Competitors
e) Customers
f) All are sources of secondary data
14. When a marketer intends to increase sales of existing products to current customers and markets, he/she is using a
_________________ strategy:
a) Product development
b) Market development
c) Market penetration
d) Diversification
15. When customer purchasing is affected by a change in price (upward or downward), we describe this phenomenon as:
a) Inelasticity of demand
b) Pseudo-elasticity of demand
c) Homeostasis
d) Elasticity of demand
Section III: Please select the best answer to complete each statement. Each item is valued at one (1) point.
Market penetration Competitive advantage Market development
Routine response Exchange Sample
Interview Observation Experimentation
Perception Buying Center Marketing Concept
A marketing strategy that is focused upon new markets and customers for existing products is _________________________________.
__________________________ is the likely decision process used by consumers for products a consumer isn’t willing to spend time and effort shopping for.
The strategy to make products “unique” or stand out from competitor offerings is called ________________________.
- Using a traffic counter to measure the flow of vehicles through an intersection, is an example of the ____________________ method of primary research.
- A producer has a marketing mix that is perceived to be better than competitor offerings. This is referred to as ______________________________.
- A _________________________ is used when researchers are unable to evaluate the effect of a marketing decision on an entire population of customers or potential customers.
- Organizations frequently involve representatives from several departments/functional areas to make important purchasing decisions or establish a specific function to handle vendor purchases. This is called a ___________________________.
- Satisfying customer needs and wants while achieving organizational goals is described as the ______________________.
- ______________________ describes the process by which people filter or screen stimuli from the environment.
- Test marketing is an example of the ________________________ research method used by organizations.
