MIDTERM PART II

Question 1

give the steps in strategic marketing process

Answer 1

1. mission identification
2. situation analysis
3. objective setting
4. marketing strategy development
5. strategy evaluation and control

Question 2

Marketing may be the “lifeblood” of an organization, but it cannot exist independently of other organizational functions.

Answer 2

company

Question 3

provide raw materials, utilities, labor, capital, and equipment.

Answer 3

suppliers

Question 4

channels that link the organization to its customers.

Answer 4

market intermediaries

Question 5

create the demand for products and services

Answer 5

customers

Question 6

demand for a company’s product and services is affected by the nature and intensity of competition.

Answer 6

competition

Question 7

may include any individual or entity with an actual or potential interest in the company and its products and services.

Answer 7

publics

Question 8

includes factors that are external to the organization. They can affect a company’s operational viability

Answer 8

marketing macroenvironment

Question 9

represents economic factors that can directly affect an organization.

Answer 9

economic macroenvironment

Question 10

includes both political and legal factors.

Answer 10

politicolegal environment

Question 11

Each geographical area has a specific culture that dictates how business is conducted

Answer 11

sociocultural environment

Question 12

demographic macroenvironment consists of changes in population characteristics.

Answer 12

demographic macroenvrionment

Question 13

composed of current and impending technological change.

Answer 13

technological macroenvironment

Question 14

refers to natural resource inputs and environmental concerns.

Answer 14

natural macroenvironment

Question 15

function responsible for acquiring and evaluating market and consumer-based information for decision making and the determination of marketing strategic direction.

Answer 15

marketing research

Question 16

Include individuals and/or households who purchase products and services for personal consumption.

Answer 16

consumer market

Question 17

consumer buying process

Answer 17

STEP 1: PROBLEM NEED RECOGNITION
STEP 2: INFORMATION SEARCH
STEP 3: ALTERNATIVES EVALUATIO
STEP 4: PURCHASE DECISION
STE[P 5: POST PURCHASE BEHAVIOR

Question 18

Individuals and companies who purchase goods and services for some use other than personal consumption.

Answer 18

organizational markets

Question 19

business organizations that purchase goods and services for the purpose of producing other products and services or for use in their production and operating processes.

Answer 19

industries

Question 20

entities that buy goods and services in order to resell them at a profit (most commonly distributors, wholesalers, and retailers).

Answer 20

resellers

Question 21

Comprise of agencies or government units at all levels that purchase goods and services for the purpose of producing public services or to transfer them to third parties that need them.

Answer 21

government

Question 22

purchase of products or services that the organization has never bought before, or has not purchased for a long period of time.

Answer 22

new task

Question 23

organizational purchases which have exactly the same specifications as previously purchased. For most companies, a straight rebuy situation requires no additional evaluation,

Answer 23

straight rebuy

Question 24

organization is eager to purchase the same products but make changes in packaging, delivery time, or the quantity of products they offer. When companies aren’t satisfied with the previous products as an alternative, they can consider placing an order with a new supplier.

Answer 24

MODIFIED REBUY

Question 25

initiate the organizational buying process after having identified a specific need in their department. Because they will be the ultimate user of the product, they usually indicate needed specifications for the supply requirement.

Answer 25

users

Question 26

individuals within the organization that influence the purchase decision; their inputs are especially important in specification refinement and in alternative supplier evaluation

Answer 26

influencers

Question 27

empowered to make the purchase decision with regards to product specifications or selection of suppliers.

Answer 27

decider

Question 28

responsible for the actual purchase; other than making the actual purchase, buyers may be allowed to negotiate payment and/or credit terms, delivery arrangements, and in some cases, even supplier selection.

Answer 28

buyer

Question 29

individuals whose positions allow them to screen and/or prevent supplier representatives and vital product/service information from reaching participants who perform roles in the organizational buying decision

Answer 29

gatekeeper

Question 30

the process of of dividing a market homogeneous parts or groups

Answer 30

market segmentation

Question 31

Divides the market by region, cities, urban and rural areas

Answer 31

geographic

Question 32

Refers to the general characteristics of the population

Answer 32

demographic

Question 33

are variables that represent the psychological profile of consumers.

Answer 33

psychographic

Question 34

the segmentation variables most indicative of purchase behavior.

Answer 34

BEHAVIOGRAPHIC