MKT 421 Final Exam Guide New/MKT 421 Final Exam Guide New/MKT 421 Final Exam Guide New

1. _________ is best defined as the process of continuously obtaining information on events happening outside a company to recognize and interpret possible trends that affect marketing.

Relationship marketing

Digital marketing

Customer relationship management

Environmental scanning

2. A __________ is often referred to as a business firm.

government agency

nonprofit organization

publicly owned organization

for-profit organization

3. The __________ refers to the seven stages a company goes through to recognize opportunities and convert them into sellable services or products

service gap analysis

strategic focus and plan

new-product process

psychographic segmentation process

4. __________ differentiates retail outlets depending on whether contractual systems independent retailers or corporate chains own the outlet.

Form of ownership

Retail servicing

Level of service