bus 2-130 test 1- QUIZZES

An accountant buys a supply of pencils to be used in calculating the taxes of other business firms. Based on this information, pencils in this case would be considered what type of product? Business Process materials Raw material Convenience Consumer

Business

According to some environmentalists, what are the three types of products that all products should be reduced to? Group of answer choices Durable goods, natural resources, and unsalables Nondurable goods, durable goods, and consumables Consumables, durable goods, and unsalables Environmental goods, recyclables, and salables Permanents, temporaries, and renewable resources

Consumables, durable goods, and unsalables

One way in which marketers can demonstrate social responsibility is through programs in sustainability. Which of the following is not included as a goal of sustainability? Group of answer choices Long-term well-being of the natural environment Focusing primarily on the external environment of the company Considering individuals as part of the natural environment Adopting more eco-friendly business practices Improving technologies that protect the natural environment

Focusing primarily on the external environment of the company

Which of the following is a characteristic of a marketing objective? Group of answer choices It is consistent with both business-unit and corporate strategy. It is a verbal agreement, not in writing. It is not written in measurable terms. It does not specify a time frame for its accomplishment. It clearly identifies how marketing strategy will be implemented.

It is consistent with both business-unit and corporate strategy.

Which of the following best describes the acceptance of the marketing concept by American organizations? The marketing concept has yet to be fully accepted by all organizations.​ All organizations fully utilize the marketing concept to run their businesses.​ Nearly half of all organizations are still in the sales orientation and have not implemented the marketing concept.​ Most organizations have really not accepted the marketing concept because of its many costs and problems.​ Although American organizations fully accept the marketing concept, many foreign companies do not.

The marketing concept has yet to be fully accepted by all organizations.​

Which of the following best illustrates how a firm can use a symbol to make an intangible product more tangible? McDonald's arches Mercedes Benz emblem Nike swoosh Traveler's Insurance umbrella Arrows on Wrigley gum packages

Traveler's Insurance umbrella

High Gliding Air Academy is developing its marketing mix for the coming year. Its managers know that they must first select ____ which may be the most important decision they make in the planning process. Group of answer choices the promotional strategy a distribution method the pricing strategy a target market the desired profit margin

a target market

The Coca-Cola Company has recognized the significant increase in population diversity within the U.S. soft-drink market. Which one of the following best illustrates the company's integration of this knowledge into its marketing strategy? Group of answer choices Ads featuring nostalgic Americana Bonus coupons in Coca-Cola twelve-packs Ads featuring Hispanic actors and Tejano music Ads in The New Yorker and Reader's Digest Ads aimed at children

ads featuring hispanic actors and tejano music

Smartphones contain ____ that help consumers access more information about businesses. treatments digits modulars actions applications

applications

One of the fastest-growing areas in mobile technology is the creation of ____ that help consumers to access more information about businesses. applications (apps) widgets cookies speed dials texts

applications (apps)

All companies have a responsibility to ____ so they can provide a return on investment to their owners and investors, create jobs for the community, and contribute goods and services to the economy. Group of answer choices offer the lowest price be profitable obey their customers provide the largest selection possible pay employees more than minimum wage

be profitable

When Hunter Ceiling Fans buys electrical wire for use in producing its ceiling fans, Hunter is part of what type of market for electrical wire?

business

As the production manager of an engineering firm, you went out and bought a metal-cutting machine. What you have purchased can best be classified as a raw material. processed component. component part. service. business product.

business product

Routinized response behavior is what a consumer does when

buying frequently, purchased, low cost items

Maintaining or increasing market share can be achieved even if industry sales are flat or decreasing. is an infrequently used pricing objective in most industries. depends on the overall growth of the total industry. is a profit-related objective based on price. is directly tied to leading an industry in product quality.

can be achieved even if industry sales are flat or decreasing.

A market share objective is not recommended when sales for the total industry are declining. is not especially useful when sales for the total industry are increasing. is not especially useful when sales for the total industry are flat. is useful primarily in an industry where total sales are increasing. can be used effectively whether total industry sales are rising or falling.

can be used effectively whether total industry sales are rising or falling.

Gambrell Designs thinks its new product, the Automatic Dog Walker, will have a short product life cycle; therefore, its marketing department sets its primary pricing objective as market share. cash flow. profit. product quality. status quo.

cash flow

Which of the following pricing objectives sets prices to recover cash as quickly as possible? Market share Profit Cash flow Return on investment Product quality

cash flow

Sayed's employer is currently developing a new marketing strategy. The top managers have developed the marketing strategy and have given it to Sayed so that he can now develop an implementation plan. Sayed's company will most likely end up with which type of strategy? Group of answer choicesDecentralizedCentralizedRigidIntendedRealized

centralized

Business products are purchased for personal consumption. chosen on the basis of preferences expressed by a business procurement department. purchased for both their functional aspects and their psychological rewards. classified according to their characteristics and intended uses. not purchased by nonbusiness organizations

classified according to their characteristics and intended uses.

Research designed to verify insights through an objective procedure to help marketers make decisions is called Group of answer choices hypothetical. conclusive. secondary. primary. exploratory.

conclusive

____ involves the use of digital networks to provide linkages between information providers and users. Accessibility Addressability Interactivity Connectivity Control

connectivity

In addition to the proliferation of new organic brands, many conventional marketers have introduced organic versions of their products, including Orville Redenbacher, Heinz, and even Walmart. These firms are responding to changes in​ Group of answer choices ​federal law. ​cultural values. ​demographics .​consumerism.​ technological forces.

cultural values

Carlos generally makes cold calls on businesses to look for new prospects. He has many satisfied customers, but like many salespeople, he does not frequently utilize one of the best ways to find new prospects, which is through Group of answer choicesfriends and coworkers.customer referrals.trade shows.past sales.other employees.

customer referrals

Many health-care companies are making adaptations to meet the needs of an aging population as the demand for medical services and products such as diabetes supplies increases. This change in marketing strategy is best explained by a change in Group of answer choices demographics. cultural values. income levels .consumerism. subcultures.

demographics

Interior Designs Inc. sells expensive custom-made draperies, bedding, and accessories through sales representatives who are also interior designers. It also has another, slightly less expensive line that it sells through stores such as Nordstrom's and Saks Fifth Avenue. Interior Designs Inc. is most likely using a(n) ____ targeting strategy. Group of answer choices differentiated undifferentiated concentrated homogeneous heterogeneous

differentiated

Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n) ____ targeting strategy for laundry detergents. Group of answer choices multiuse differentiated stratified undifferentiated concentrated

differentiated

Smart Balance produces a line of milk products that are lactose-free. The milk comes in pint, quart, and half-gallon cartons, as well as 16-ounce glass bottles. Smart Balance sells its pint cartons to school systems, its quart and half-gallon cartons to grocery stores, and its glass bottles to vending machine operators. Smart Balance appears to use a(n) _____ strategy in marketing its product to a target market that is likely to be _______. Group of answer choice undifferentiated; homogeneous undifferentiated; heterogeneous differentiated; homogenous differentiated; heterogeneous concentrated; heterogeneous

differentiated; homogenous

Business products are classified into the following seven categories according to characteristics and intended uses: raw materials, installations, accessory equipment, component parts, process materials, business services, and production activities. service assistance. specialty industrial products. computer programming and operation services. MRO supplies.

e) MRO supplies.

The RedCap Corporation is committed to social responsibility. It is looking for a new shipping partner and has found LogiSpec, one that seems to be perfect since it employs individuals with disabilities, contributes a portion of profit to the local school system, and allows its employees to work on flextime. RedCap is very interested in LogiSpec's attention to social responsibility. However, its pricing is almost 12% higher than other shippers RedCap is considering. The fact that RedCap's decision has to balance the company's desire for social responsibility and investors' desires for profits is an example of a(n) ____ responsibility. Group of answer choices ethical legal cost philanthropic economic

economic

After Home Depot gathers information related to its marketing environment, it attempts to define current environmental changes and predict future changes. This determines possible opportunities and threats facing the company. It illustrates the process that is called Group of answer choices environmental scanning. survey of environment. marketing. environmental analysis. marketing information processing.

environmental analysis

Costco believes that most of its sales are to small businesses rather than consumers -- and that women are more likely to be making the purchasing decisions. This is an example of a(n) ____ that Costco could test through marketing research. Group of answer choices conceptual error hypothesis experimental question descriptive sample sampling error

hypothesis

If Tasmania levied a duty on all goods purchased from the United States and other countries outside its borders that were brought into Tasmania, its businesses and citizens would be paying a(n) Group of answer choices embargo. import tariff. travelers' tax. export tax. foreign duty.

import tariff

Facilities, factories, and production lines with very large equipment are all classified as accessory equipment. permanents. installations. component parts. MRO facilities.

installations.

A target market​: involves a large number of customers.​ is a specific group of customers on whom an organization focuses its marketing efforts.​ already has several competitors vying for customers' business.​ is the same as a salesperson's prospective client list.​ is a customer group classified as people with similar demographic characteristics.

is a specific group of customers on whom an organization focuses its marketing efforts.​

Personal selling goals include finding prospects, convincing prospects to buy, and Group of answer choicesmonitoring new products being developed.being aware of competitors' sales activities.seeking one-sale customers.avoiding repeat transactions.keeping customers satisfied.

keeping customers satisfied

Under Armour is establishing a ______ pricing objective to maintain or increase its product's sales in relation to total industry sales. return on investment survival product quality market share status quo

market share

A valid study Group of answer choices measures what it is supposed to. verifies expected results. results in a causal relationship between the independent and dependent variables. portrays the population being studied. uses random sampling.

measures what its supposed to

Marketing research is a process designed to gather information Group of answer choices about the needs and desires of employees. from the company's database. exclusively about a company's customers. not currently available to decision makers. concerning the interpretation of the company's sales goals.

not currently available to decision makers

Favorable conditions in the marketplace environment that could produce business rewards for the organization if acted on properly are called Group of answer choices strengths. market strategies. market niches. threats. opportunities.

opportunities

The Boston Consulting Group's matrix is based on the Group of answer choices idea that a firm's market share and market attractiveness are the important factors for a marketing strategy.assumption that a firm's actions have a profitable impact on marketing strategy. business position and market attractiveness of the firm. philosophy that a product's market growth rate and its market share are important determinants of its marketing strategy. idea that a product's market growth rate and market attractiveness determine the marketing strategy.

philosophy that a product's market growth rate and its market share are important determinants of its marketing strategy.

Special interest groups and regulatory bodies are ____ forces that must be taken into account in international marketing. Group of answer choices socioeconomic technological economic social and ethical political and legal

political and legal

Tim has just finished compiling a list of potential customers and evaluating their ability, willingness, and authority to buy. He knows his next step in the personal selling process is to Group of answer choicesapproach.preapproach.make the presentation.prospect.overcome objections.

preapproach

When Ikea showcases rooms of furniture on its website, it lists each item in the room. However, if customers like all of the items, they can purchase them as a bundle, which costs consumers less than if they had purchased each item individually. Which of the following aspects of the marketing mix is Ikea likely altering? Group of answer choices​ Price​ Promotion​ Distribution​ Product​ Target market

price

Data that are observed or collected directly from respondents are called Group of answer choices firsthand information. primary data. secondary data. direct samples. stratified data.

primary data

Marketers who attempt to influence and change the various environmental forces have a(n) ____ response to these forces. Group of answer choices reactive inactive variable positive proactive

proactive

Maquiladoras are Group of answer choices exchange controls from central banks in Latin American countries. production facilities in north-central Mexican states. import-export agents of the Mexican government. global marketing programs established in Latin American countries. freight forwarders from Mexico.

production facilities in north-central Mexican states

Westin Hotels, Inc. has an objective of achieving a 25% return from its overall sales. This is an example of a ____ pricing objective. market share cash flow return on investment profit status quo

profit

Company sales records, commercial databases, newspaper announcements, telephone directories, and public records are all sources used for Group of answer choicessurveying.screening.researching.preapproaching.prospecting.

prospecting

Janetta tells her sales manager that she will be devoting more effort to ____ in the coming weeks, as her list of potential customers has dwindled below the level of 30 firms recommended by the selling plan. Group of answer choicesapproaching customerspreapproachingclosing the salefollowing upprospecting

prospecting

Sayyid's company has launched a new product line, and he is put in charge of sales. He decides his first step will be to find potential customers in the company's sales records. Sayyid is Group of answer choicesprospecting.screening.researching.preapproaching.surveying.

prospecting

Scott Bartello, a salesperson for Lamkin Golf Products, develops a list of potential customers and evaluates them on the basis of their ability, willingness, and authority to purchase copy machines. This process is called Group of answer choicescustomer search.preapproach.customer evaluation.customer pre-approval.prospecting.

prospecting

According to the marketing concept, an organization should try to​: consider short-run objectives and cash flow needs before developing new products.​ define its business as "making a product."​ provide products that satisfy customers' needs and allow the organization to achieve its goals.​ put most of its emphasis on marketing activities and be less concerned with finance, accounting, and personnel.​ view selling activities as the major means of increasing profits.

provide products that satisfy customers' needs and allow the organization to achieve its goals.​

A marketer is most likely to set prices according to a cash-flow objective when a trial-and-error approach to the market is acceptable. certain market share must be maintained. quick return on investment is desired. higher price is acceptable to the firm. product is expected to have a long life cycle.

quick return on investment is desired.

Pointing out any deficiencies and the possible reasons for them should be done in the ____ step of the marketing research process. Group of answer choices defining the issue or problem reporting research findings designing the research project collecting data interpreting research findings

reporting research findings

The process of dividing a total market into market groups because people within each group have relatively similar product needs is called Group of answer choices segmentation. diversification. target marketing. concentration. customization.

segmentation

​If a certain country considered handshakes in business transactions to be taboo and preferred to use nodding, this would be an example of differences in ____ forces. Group of answer choices​ sociocultural​ political ​sales ​ethical​ regulatory

sociocultural

Marketers of computer software, music CDs, and books are particularly affected by cultural differences in Group of answer choices socioeconomic status of citizens. advances in technology. differences in cross-cultural exchange behavior. ethical codes of conduct for businesses. standards regarding intellectual property.

standards regarding intellectual property.

Based on the work by the Boston Consulting Group, products with a dominant share of the market and good prospects for growth are Group of answer choices dogs. cash cows. stars. question marks .pigs.

stars

Maintaining a certain market share, meeting competitors' prices, maintaining a favorable image, and achieving price stability are all associated with a ____ pricing objective. product quality market share survival profit status quo

status quo

What type of pricing objective would an organization use if it were in a favorable position and desired nothing more? Return on investment Cash flow Profit Status quo Survival

status quo

Marketing research is best defined as Group of answer choices -a framework for the day-to-day management and structuring of information gathered by marketers. -the collecting of data from secondary sources and internal documents. -the systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of market opportunities. -an intuitive process for making decisions based on personal knowledge and experience to take advantage of market opportunities. -the use of tools and methods to measure and interpret the effectiveness of a firm's marketing activities.

the systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of market opportunities.

Which of the following countries has the highest GDP? Group of answer choices Japan. the United Kingdom. Brazil. the United States. Canada.

the united states

Generally speaking, individuals who are unemployed would not be considered a target market for lawn care services because Group of answer choices they would not desire such products. they would not be willing to purchase such products. they would not have the ability to purchase such products. such markets are narrowly defined geographically. they would not be authorized to purchase such products.

they would not have the ability to purchase such products.

Technology assessment is Group of answer choices measuring how much technology has been incorporated into an organization. trying to foresee the effects of new products and processes on the firm's operation and on society in general. assessing how much technology one wants to incorporate into a company in the future. judging how a firm's products affect society. weighing the cost of new technology to determine whether a firm can afford to use it.

trying to foresee the effects of new products and processes on the firm's operation and on society in general.

Which of the following is the best example of strategic philanthropy for Staples, the large office supply chain? Group of answer choices -Donating money to help fight illiteracy of both adults and children -Having employees volunteer at a charity of their choice two hours a week -Giving a portion of its profits in August to support charter schools -Offering discounts to large corporations on their office supplies -Providing low-income families with school supplies and computer training

-Providing low-income families with school supplies and computer training

A light bulb can be all of the following except a consumer product. a business product. either a consumer product or a business product. a business product if it is used to light an assembly line in a factory. a consumer product if it is used to light the office of the board of directors.

a consumer product if it is used to light the office of the board of directors.

Chloe and Max are searching for a health club to join. This purchase will likely be affected by ____ involvement.

enduring

which type of business market tends to have the most complex buying procedures?

government

Which of the following is used to help maintain a more favorable balance of trade by a country? Group of answer choices Limiting imports Limiting exports Establishing exchange controls Increasing gross domestic product Changing political systems

limiting exports

The marketing concept is​: a management philosophy.​ synonymous with exchange.​ a component of the marketing mix.​ a function of the marketing environment.​ focused solely on satisfying customer objectives.

management philosophy

while shopping at a local grocery store, taylor sees a display of his favorite brand of energy drink. he buys some to take home for the weekend. this purchase process would be described as

routinized response behavior

Rob Donaldson runs a successful wholesale business that sells equipment to restaurants throughout the Midwest. He is considering purchasing his own fleet of trucks to deliver the equipment instead of relying on a shipper as he is currently doing. This most closely represents a decision about​: which market he should target.​ the best way to distribute his products.​ how to effectively promote his business.​ the product he provides to his customers.​ which supplier he should use.

the best way to distribute his products

A disadvantage of the concentrated targeting strategy is that Group of answer choices the firm's financial condition is tied to a single and specialized marketing mix. large sales volumes cannot be generated. production costs may be higher than with other strategies. marketing personnel may become dissatisfied with the limited opportunities provided by this approach. marketing costs are often higher than for other strategies.

the firm's financial condition is tied to a single and specialized marketing mix.

Many aspects of consumer buying decisions are affected by the individual's level of involvement. Level of involvement is

the importance of intensity of interest in a product in a particular situation

When the city of Chicago buys iPads for its restaurant inspectors to use during their visits, the purchase from Apple would be considered​

a government purchase

The marketing mix is built around the​ product.​ company.​ customer.​ employee.​ retail outlet.

customer

____ uses the Internet, mobile, and interactive channels to develop communication and exchanges with customers. Digital marketing Digital media Electronic marketing Digital electronics E-marketing

digital marketing

Retailers like Target and Kmart are considered to be members of which business market?

reseller

Because retailers have to be concerned with product selection, price, and space, they often evaluate products on the basis of

sales per square foot of selling area

All of the following are steps in the marketing research process except Group of answer choices designing the research project. collecting data. interpreting research findings. reporting research findings. understanding your customer.

understanding your customer

When a firm designs a single marketing mix and directs it at an entire market for a particular product, the company is using a(n) ____ strategy. Group of answer choices concentrated targeting differentiated heterogeneous market undifferentiated single mix

undifferentiated

The use of marketing research is Group of answer choices controlled by the federal government. limited strictly to large corporations. widespread throughout business and nonprofit organizations. limited to for-profit businesses of all sizes. carefully monitored by each state's trade agencies.

widespread throughout business and nonprofit organizations.

The gross domestic product is Group of answer choices a measure of the profit made by all firms in a nation. the average annual earnings per person in a nation. a measure of the types of products produced by a nation. an overall measure of a nation's economic standing. a ratio of domestic products to products produced in foreign countries.

an overall measure of a nations economic standing

Home Depot has an iPhone icon that allows users to match colors in photographs with the store's selection of carpets. This is an example of a(n) application (app). keypad function. voice-activated system. digital system. interactivity.

application (app)

Business decisions made in creating a marketing mix Group of answer choicesare made before a target market is identified.are unchangeable once they are agreed on by management.are only as good as the organization's understanding of the needs of the target market.usually take place when a strategic window is open.must always be consistent with the firm's opportunities

are only as good as the organization's understanding of the needs of the target market.

The Foreign Corrupt Practices Act of 1977 makes it illegal for U.S. firms to Group of answer choices attempt to make large payments or bribes to influence policy decisions of foreign governments. offer foreign businesses any type of incentive for purchasing their company's products and services. change their ethical standards when dealing with foreign firms.give even small tips or gifts in countries where such gifts are customary business practices. introduce any type of corruption into foreign businesses that have higher ethical standards than those of the U.S. firm.

attempt to make large payments or bribes to influence policy decisions of foreign governments

Jason, a 17-year-old high school student, wants to buy a pack of Marlboro Lights. He has the money to purchase them, but he is still not considered to be a market for the product due to his lack of ____ to buy. Group of answer choices ability willingness authority need location

authority

In a traditional organization, marketing decisions are likely to be Group of answer choicesvery decentralized.centralized at the top levels of the organization.made by frontline employees.made by frontline managers.made only by the CEO.

centralized at the top levels of the organization

A targeting strategy in which an organization targets a single market segment using one marketing mix is called a(n) ____ strategy. Group of answer choices selective focused differentiated concentrated undifferentiated

concentrated

Tiffany's markets its exclusive jewelry and gifts to high-income individuals interested in high-quality products and a well-known brand name. It uses the same marketing mix to reach this market. Tiffany's uses a(n) ____ strategy. Group of answer choices undifferentiated differentiated targeting exclusive targeting heterogeneous concentrated targeting

concentrated targeting

____ refers to customers' ability to regulate the information they view and the rate and sequence of their exposure to that information. Accessibility Addressability Interactivity Connectivity Control

control

A firm's unique symbols, personalities, and philosophies comprise its Group of answer choicescorporate persona.corporate identity.corporate character.CEO's identity.ethics.

corporate identity

Which of the following refers to the strategic process of distributing, promoting, and pricing products, and discovering the desires of customers using digital media and digital marketing? Digital orientation Digital media Electronic marketing Digital electronics Electronic processing

electronic marketing

Kaitlyn understands that even small businesses like her local catering business have certain responsibilities to society. She knows that she must abide by the laws that apply to her business and try to make a profit. What are the other obligations Kaitlyn should know about? Group of answer choices Ethical and moral Economic and ethical Philanthropic and legal Environmental and ethical Ethical and philanthropic

ethical and philanthropic

After compiling a list of potential customers, a salesperson must Group of answer choices evaluate whether each prospect is able, willing, and authorized to buy the product.determine whether or not each prospect is really in his target market.find and analyze information about each prospect's specific needs and current brand choices.develop a presentation for each of the potential customers on his list.contact each of the prospects to get an initial feel for how likely they are to purchase his products.

evaluate whether each prospect is able, willing, and authorized to buy the product.

____ can force businesspeople to buy and sell foreign products through a central agency, such as a central bank. Group of answer choices Embargoes Export tariffs Quotas Import tariffs Exchange controls

exchange controls

When more information is needed about a problem and a tentative hypothesis needs to be made more specific, marketers usually conduct ____ research. Group of answer choices descriptive analytical statistical conclusive experimental exploratory

exploratory

Tara is beginning her week as a sales representative for Logitech Technology. She decides to start the day by developing a list of potential customers, which is called Group of answer choicespreapproaching.surveying.scouting.prospecting.screening.

follow up

The final stage of the selling process is Group of answer choicesclosing.trial close.presentation.follow-up.overcoming objections.

follow up

for which of the following products would a consumer most likely use limited decision making?

hair dryer

Individuals, groups, or organizations with one or more similar characteristics that cause them to have similar product needs are classified as Group of answer choices market segments. heterogeneous markets. concentrated markets. demographic segments. strategic segments.

market segments.

Digital media have created opportunities for companies to gain more control over what the consumer sees. target specific markets. offer the same kind of experience as a brick and mortar store. manage information that is disseminated through the Web. stimulate all five senses during the online shopping experience.

target specific markets

Which of the following is not a dimension of social responsibility and marketing citizenship? Group of answer choices Economic Ethical Legal Technological Philanthropic

technological

Consumers are changing ____ and consumption behaviors to fit with emerging technologies and trends. their eating habits their spending money their disposable income their shopping partners their information searches

their information searches

If Georgia-Pacific, a producer of home siding, decking, and other wood products, focused its marketing efforts to home construction companies only, it would be using a(n) ____ strategy. If it sold the same products to both construction companies and DIY retailers such as Home Depot, it would be using a(n) ____ strategy. Group of answer choices undifferentiated; undifferentiated undifferentiated; differentiated differentiated; multisegmented concentrated; differentiated concentrated; concentrated

concentrated; differentiated

Despite the fact that the FDA has mandated that they are safe, many people still distrust genetically-modified foods. Some are choosing to express their dissatisfaction by protesting and writing letters to their state governments. These letters demand that genetically-modified food be labeled so shoppers can make informed choices. ​These activities are an example of ___________. Group of answer choices​ demographic shifts​ consumerism ​the cultural diversity movement ​self-regulation legal violations

consumerism

Most markets for products are made up of individuals or groups with diverse needs for products and are called ____ markets. Group of answer choices undifferentiated concentrated homogenous differentiated heterogeneous

heterogeneous

Three primary methods of collecting information for environmental scanning are Group of answer choices marketing research, company records, and advance orders. secondary sources, company records, and observation. executive knowledge, media, and marketing research. observation, secondary sources, and marketing research. company database, executive knowledge, and research.

observation, secondary sources, and marketing research.

Designing research procedures that produce reliable marketing data means that Group of answer choices the procedure may give results that contradict other research studies. others using the same procedure will get almost identical data. the procedure must not give results that contradict other research studies. sampling must be done in a completely random manner. the procedure must give results that support the hypothesis.

others using the same procedure will get almost identical data.

An expected level of performance against which actual performance can be compared is a Group of answer choicesstandard performance.standard of excellence.step in sales analysis.performance standard.corrective standard.

performance standard

A business that contributes resources to the community to improve the quality of life is taking on a(n) ____ responsibility. Group of answer choices ethical legal cost philanthropic economic

philanthropic

Before contacting prospects, a salesperson for an industrial cleaning equipment company analyzes information about the prospects' product needs, feelings about brands, and personal characteristics. This process is called Group of answer choicesprospecting.preapproach.approaching the customer.sales training.sales planning.

preapproach

business markets are typically divided into four categories. these categories are

produced, reseller, government, and institutional

While Silk Soymilk engages in environmental scanning and analysis, the company is more likely to change its products and marketing strategies to adapt to environmental forces rather than trying to influence these forces. Silk Soymilk has a(n) ____ approach to marketing environmental forces. Group of answer choices inactive reactive proactive negative variable

reactive

Stacy is going to the store to buy milk and cereal. She will most likely use ____ in her consumer decision-making process.

routinized response behavior

Which pricing objective de-emphasizes price and can lead to a climate of nonprice competition in an industry? Status quo Return on investment Market share Survival Cash flow

status quo

which of the following buying situations is most consistent with routinized response behavior

stephanie buying bottled water

Running a big sale in order to generate enough cash flow to pay creditors is typical in a situation in which a firm's primary pricing objective is keeping the status quo. profit. survival. market share. recovery.

survival

Because of its highly efficient and low-cost distribution system, Walmart has a ____ advantage over Kmart. Group of answer choices nonsustainable competitive sustainable marketing sustainable control sustainable implementation sustainable competitive

sustainable competitive

In 2009 the Coca-Cola Company introduced the "Freestyler," a new freestanding soda dispenser where consumers can chose from over 120 different types of soda and customize their drinks. Freestylers would take the place of typical dispensers where there are only a few different types of soda brands available. In order to develop the new dispenser, Coca-Cola collected information on the soda-drinking habits of individuals in several different age groups, as well as information about new technologies for dispensing liquids from vending machines and the sales of its "fountain" syrup for national restaurant chains to use in their soda machines. Coca-Cola's collection of this information is an example of _____ while the assessment of its impact on the potential for the new "Freestyler" is an example of _________ ​ Group of answer choices ​environmental scanning; environmental analysis ​an environmental force; environmental scanning​ environmental analysis; environmental strategy​ strategizing; environmental scanning ​strategic management; environmental scanning

​environmental scanning; environmental analysis

Which of the following characteristics distinguish online media from traditional marketing? Experience, networking, and personal contact Social networking, personal contacts, control, and salesmanship Addressability, interactivity, accessibility, connectivity, and control Environment, responsiveness, customization, and affordability Dynamic responsiveness, control, friendliness, and attention-getting

Addressability, interactivity, accessibility, connectivity, and control

Which of the following is not an example of the implementation of the marketing concept?​ Jimmy Dean's Sausage introduces turkey sausage patties for a healthier alternative to pork.​ Ford asks customers to vote online for a new color for next year's Ford Focus.​ Burger King reduces the labor costs to produce its sausage-egg biscuits.​ Microsoft offers rewards for users who can find flaws in its new software.​ Volkswagen introduces pop-up rollover bars in its convertibles to protect its consumers in the event of a serious collision.

Burger King reduces the labor costs to produce its sausage-egg biscuits.​

Which of the following is always used to determine the classification of a good? Buyer's intent for using the product Amount of shopping required by the buyer to obtain the product Price of the product Specific product features Industry competitors

Buyer's intent for using the product

Which of the following statements does not apply to convenience goods? Consumers are brand loyal to convenience products and are not likely to substitute other brands. Convenience products require minimal shopping effort. Marketing of convenience products requires intensive exposure of these goods in as many stores as possible. Consumers tend to feel that the most desirable retail facility for convenience products is the closest one. Colas, gasoline, and bread are good examples of convenience goods.

Consumers are brand loyal to convenience products and are not likely to substitute other brands.

Which of the following statements about the marketing mix is incorrect? Group of answer choices The selection of the target market serves as the basis for the creation of the marketing mix. Marketing strategy utilizes the marketing mix to develop a message that is consistent with the business-unit and corporate strategies. Each element of the marketing mix must be precisely matched with the needs of the target market. Once a marketing mix has been created for a particular target market, it cannot be changed until a new strategic window opens. Each element of the marketing mix must be precisely matched with the other elements of the marketing mix.

Once a marketing mix has been created for a particular target market, it cannot be changed until a new strategic window opens.

A SWOT analysis focuses on an organization's: Group of answer choices Strengths, Weaknesses, Opportunities, and Threats. Strengths, Weaknesses, Opportunities, and Transformational Innovations. Sustainability, Weaknesses, Organics, and Threats. Strengths, Workers, Opportunities, and Transactions. Sustainability, Weaknesses, Opportunities, and Transactions.

Strengths, Weaknesses, Opportunities, and Threats.

According to the text, a market is defined as Group of answer choicesa place to buy products.the buyers of the products that a company develops, promotes, prices, and distributes.the specific group of customers on whom an organization focuses its marketing efforts.a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase those products.the percentage of a group of customers that actually buys a specific product from a specific company.

a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase those products.

The marketing concept is best defined as​: a second definition of marketing.​ a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals.​ the performance of business activities that direct the flow of goods and services from producer to customer or user.​ a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers.​ the inclusion of marketing activities in the activities of an organization.

a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals.​

A strategic window is: the right combination of circumstances and timing that permit an organization to take action to reach a particular target market. what determines the factors that are most important in making a market attractive or strong. customers' requirements or desired benefits. a temporary period of optimum fit between the key requirements of a market and the particular capabilities of a firm competing in that market. the process that seeks information about events and relationships in a company's outside environment.

a temporary period of optimum fit between the key requirements of a market and the particular capabilities of a firm competing in that market.

According to the text, marketing ethics refers to principles and standards that define Group of answer choices improper behavior in marketing. acceptable conduct in society. improper behavior in business. acceptable conduct in marketing. acceptable conduct in general.

acceptable conduct in marketing

abercombie & fitch is developing a program to get to know its customers, which of the following is not a reason why A & F needs to understand consumer buying behavior

all customers are the same when it comes to buying behavior

Intuitiv Manufacturing's large plastics molding machine suddenly broke down during its day shift. When considering the purchase of available alternatives, Intuitiv decided to rent one for the next two years instead of buying one. In this situation, the large plastics molding machine it rented would be classified as an installation. accessory equipment. an unsought good. a process material. MRO supplies.

an installation

Which of the following is not one of the four objectives that environmentalists believe companies should implement in order to sustain the natural environment? Group of answer choices Eliminate the concept of waste. Reinvent the concept of a product. Force consumers to recycle products. Make prices reflect the true cost of a product. Make environmentalism profitable.

force consumers to recycle products

In China, the price of imported Scotch is $30 per glass as opposed to Scotch from China, which is $3. Which of the following do you think accounts for the difference in price? Group of answer choices Exchange control Balance of trade Import tariff Embargo Export tariff

import tariff

Tojitos Mexican Restaurant purchased several large ovens for use in remodeling its kitchens. These ovens are an example of which type of business product? Raw materials Installations Accessory equipment Component parts Process materials

installation

One of the effects of NAFTA is the simplification of country-of-origin rules. This will likely hinder the international trade activities of Group of answer choices Canada. Japan. Brazil. Cuba. Panama.

japan

Jenny plans to buy a new swimsuit for her spring break cruise. She has not seen this year's styles and thus will do some comparison shopping before making a purchase decision. Jenny is engaging in

limited decision making

when a consumer purchases products occasionally or needs information about an unfamiliar brand in a familiar product category, he or she will most likely engage in...

limited decision making

coles smartphone is two years old and he would like to have a new one. this time, he wants to make sure that it has a longer battery charge and better geographic coverage since he is traveling three days a week for his new job. cole is most likely to use ____ for this purchase.

limited decision making behavior

the three most widely recognized types of consumer decision making are

limited problem solving, extended problem solving, and routinized response behavior

Which of the following is the most specific and detailed type of business strategy? Group of answer choices business-unit marketing corporate customer service tactical

marketing

Motorola buys silicone which is used in its chip-making process. Motorola produces microchips for use within a wide variety of products for other firms, such as Ford, GM and Samsung. Motorola is a buyer in a(n) ____ market.

producer

individuals and business organizations that purchase products for the purpose of making a profit either by using the products to produce other products or by using them in their operations are classified as ___ markets

producer

As the Industrial Revolution came to the United States, most firms operated in a(n) ____ orientation.​ ​ market​ societal​ sales​ evolutionary​ production

production

As digital communication technologies have advanced, it is possible for marketers to Group of answer choices have more control over their product's positioning. have more control over the processing of information. have more control over people's perceptions of their business. more carefully choose what news is released about their company. reach markets that were previously inaccessible.

reach markets that were previously inaccessible.

Marketers who view political forces as being beyond their control are taking a(n) ____ response toward these forces. Group of answer choices reactive aggressive proactive competitive liberal

reactive

Digital media such as blogs allow marketers to interact with prospective customers in person. an assertive manner. a nonthreatening environment. real time. friendly environment.

real time

Socially responsible business practices have provided all of the following benefits except Group of answer choices creating goodwill toward the organization .attracting employees. reducing marketing costs. generating publicity for the firm. positively impacting local communities.

reducing market costs

in business markets, individuals or groups purchase products for one of three purposes. these purposes are:

resale, direct use in producing other products, and sue in general daily operations.

The marketing concept focuses on​: achieving the goals of top executives.​ creating maximum visibility for the firm.​ maximizing sales in a way that helps to achieve organizational objectives.​ maximizing market share in a way that helps to achieve organizational objectives.​ satisfying customers' needs in a way that helps to achieve organizational objectives.

satisfying customers' needs in a way that helps to achieve organizational objectives.

The state of Montana is preparing to buy a large quantity of frozen orange juice for use in a large school district. Citrus Sweet, Inc. is in the citrus juice business but has never sold to the government market. To have a chance at getting this order, Citrus Sweet's first step must be to get her firm to a) make a presentation appointment with the state. b) quote prices to the purchasing department. c) advertise in the capital city. d) negotiate with the state. e) secure a slot on the list of qualified bidders.

secure a slot on the list of qualified bidders

The fact that technology acts as a catalyst to spur even faster development is referred to as​ Group of answer choices ​self-sustaining. ​reach.​ dynamics.​ impact.​ technology assessment.

self sustaining

​ Which one of the following statements by a company president best reflects the marketing concept? We have organized our business to make certain that customers get what they want.​ We believe that the marketing department must organize to sell what we produce.​ We have organized an aggressive sales force in our company to promote our products.​ We try to produce only high-quality, technically efficient products.​ We try to encourage company growth.

We have organized our business to make certain that customers get what they want.​

Marketing ethics Group of answer choices refers to laws and regulations that govern marketing. refers to principles and standards that define acceptable conduct in marketing. maximizes an organization's positive impact and minimizes its negative impact on society. is most important for advertising agencies. applies well-defined rules for appropriate marketing behavior.

refers to principles and standards that define acceptable conduct in marketing.

Convenience products are relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort. frequently purchased items for which buyers are willing to exert considerable effort. frequently purchased items that are found in certain retail outlets. items that are expensive but are easy to purchase. items that require some purchase planning and for which the buyer often will not accept substitutes.

relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort.

An overall plan for obtaining the information needed to address a research problem or issue is called the Group of answer choices problem recognition. research design. sampling procedure. data collection method. hypothesis.

research design

Snappy Tools, Inc., purchases hammers, bolts, and other hardware items from a variety of manufacturers and sells them to hardware stores at a price that includes a profit for Snappy Tools, Inc. The company would be part of what type of business market?

reseller

individuals and business organizations that buy finished goods and resell them to make a profit without changing the physical characteristics of the product are classified as ____ markets

reseller

Most pricing objectives based on ____ are achieved by trial and error because not all cost and revenue data are available when prices are set. market share cash flow return on investment survival profit

return on investment

The greatest amount of responsibility for providing customer satisfaction falls on the shoulders of Group of answer choiceschief executive officers.salespeople.sales managers.quality control experts.marketing directors.

salespeople