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STR581 Final 1

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1) ________ consists of people, equipment, and procedures to gather, sort, analyze,
evaluate, and distribute needed, timely, and accurate information to marketing
decision makers.
A. A promotional campaign
B. A marketing research system
C. A marketing information system
D. A marketing intelligence system
E. A marketing database
2) 3M, Hewlett-Packard, Lego, and other companies use the ________ to manage the
innovation process.
A. venture team
B. joint- venture system
C. stage-gate system
D. new product “team”
E. skunk works
3) ________ is the difference between the prospective customers evaluation of all the
benefits and all the costs of an offering and the perceived alternatives.
A. Customer perceived value
B. Failure avoidance rate
C. Perceived usefulness
D. Report rating
E. Competitors market share rate
4) A company can take several steps to improve the quality of its marketing
intelligence. If the company purchases competitive products for study, attends open
houses and trade shows, and reads competitors’ published reports and stockholder
information, the company is using ________ to improve the quality of its marketing
intelligence.
A. advisory panels
B. intermediaries
C. sales force surrogates
D. external networks
E. customer feedback systems
5) A ________ is a set of procedures and sources managers use to obtain everyday
information about developments in the marketing environment.
A. marketing intelligence system

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B. marketing information system
C. marketing research system
D. product management system
E. vertical system
6) A(n) ________ is any good, service, or idea that is perceived by someone as new.
A. new idea
B. product
C. innovation
D. creative product
7) Total customer satisfaction is the general feeling of pleasure or disappointment
that results from comparing perceived performance to expectations. To achieve total
customer satisfaction, organizations need to_____________.
A. Lower expectations
B. Spend more money
C. Develop marketing campaigns
D. Manage customer experiences
E. Lower prices
8) Particularly when shopping for ego-sensitive products such as perfumes and
expensive cars, many consumers use price as an indicator of ________.
A. capability
B. size
C. ability
D. quality
E. status
9) A ________ consists of a group of customers who share a similar set of needs and
wants.
A. market segment
B. market level
C. market slice
D. market group
E. market target
10) A firm has to consider many factors in setting its pricing policy. We list these as a
six-step process. Which of the following is NOT one of these steps?
A. Selecting the final price.
B. Selecting a pricing method.

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