Mkt 421 Final Exam 2016 New Version

898 words 4 pages
MKT 421 FINAL EXAM 2016 NEW VERSION

A __________ is a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
marketing dashboard

What is meant by “accelerating the process?”
Speed up new product time to market

The product life cycle refers to __________.
a concept that describes the stages a product goes through in the marketplace—introduction, growth, maturity, and decline

Jay stops at the shopping mall to purchase a new pair of jeans from the Diesel store. He is the ultimate consumer in a pipeline from the producer through intermediaries, including the clothing store. This pipeline is actually a _______.
marketing channel
What is the
…show more content…
using a shopping “bot” to search for a product at locations with the best price

Environmental scanning refers to:
continually acquiring information on events occurring outside the organization to identify and interpret potential trends.

Relationship selling refers to:
the practice of building ties to customers based on a salesperson’s attention and commitment to customer needs over time.

A global marketing strategy refers to:
the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.

Segmentation based on some subjective mental or emotional attributes, aspirations, or needs of prospective customers is referred to as:
psychographic segmentation.

Computer-based networks that trigger actions by sensing changes in the real or digital world are known as:
smart systems.

The study of similarities and differences among consumers in two or more nations or societies is referred to as __________.
cross-cultural analysis

Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that make up a firm’s __________.
communication source

Neuromarketing is becoming more important in marketing as experts realize that traditional research methods such as focus groups and surveys

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