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12) When a firm starts up or buys a business outside of its current product line and markets, it is pursuing which growth strategy? Diversification 15) In which way does increasing customer satisfaction disrupt the internal value chain? It can increase production costs, increase inventories, and dis...

12) When a firm starts up or buys a business outside of its current product line and markets, it is pursuing which growth strategy? Diversification 15) In which way does increasing customer satisfaction disrupt the internal value chain? It can increase production costs, increase inventories, and disrupt production schedules. 20) Effective positioning is based on __________. Differentiation 22) What are the main components of a marketing plan? An executive summary, situation analysis, objectives, marketing strategy, action programs, budgets and controls, and threats and opportunities 25) Which of the following is a true statement regarding managing and measuring marketing return on investment (ROI)? Marketers are increasingly using measures such as customer acquisition and retention, customer engagement, and customer equity as measures of ROI. 7) To develop needed information, marketing information systems utilize __________. internal databases, marketing intelligence, and marketing research 8) Which of the following is an advantage to using internal databases for information? They can be accessed quickly and cheaply. 9) Competitive marketing intelligence uses __________ data sources. publicly available 13) What are the three types of research objectives? Exploratory, descriptive, and causal 15) Survey research is the approach best suited for gathering __________. Descriptive research 18) What are the two main research instruments used by marketing researchers in primary data collection? Questionnaires and mechanical devices 20) To learn more about the relationships and patterns contained in the vast amounts of data they collect, marketers use __________. Marketing analytics 2) Which of the following statements is correct regarding consumer buying decisions? Consumers are often unaware of what influences their purchases. 6) Which of the following statements regarding American subcultural groups is correct? Asian Americans are the most affluent U.S. demographic segment. 7) Which of the following correctly identifies the social factors that influence consumer buyer behavior? Small groups, social networks, family, and social roles and status 13) When consumers engage in __________ buying behavior they go through a learning process, so it is most important that marketers understand information gathering and evaluation behavior. Complex 14) Dissonance-reducing buying behavior would result from which of the following conditions? High involvement and few differences between brands 18) Two things can come between the intention to make a purchase and the actual purchase: the first is the attitudes of others and the second is __________. unexpected situational factors 22) What is the correct order of the five stages of the new product adoption process? Awareness, interest, evaluation, trial, adoption 23) People can be classified into adopter categories. Which two categories are the first to adopt a new product idea? innovators and early adopters 1) Which of the following statements regarding the business market is correct? Many sets of business purchases are made for one set of consumer purchases. 5) Business-to-business marketing involves buying and selling goods or services by which of the following? Manufacturers, producers, retailers, wholesalers 7) For Super Bowl Sunday a pizzeria simply increases their order of supplies from their existing suppliers. Which type of buying situation does this represent? A modify rebuy 8) The __________ consists of all the people who are involved in an organizational buying decision. buying center 15) Product value analysis is an approach to cost reduction that is used at which stage of the buying decision process? Product specification 16) Which stage of the business buying decision process occurs between supplier search and supplier selection? Proposal Solicitation 8) One problem with business-to-business e-procurement is that it __________. can erode long-standing customer–supplier relationships 19) One form of e-procurement is __________ in which companies put their purchasing requests online and invite bids Reverse auctions 23) Which of the following statements regarding the institutional market is correct? Institutional markets have captive patrons. 24) The U.S. government normally awards contracts to __________. the lowest bidder 25) Which of the following statements regarding the U.S. government market is correct? The U.S. government is the largest buyer of goods and services in the world.