BUS 221 Exam 2

In general, which of the following competitive structures is an organization least likely to operate?

Pure competition

Which of the following is most judgmental?

Quota sampling

Mango Tech has a program that offers consumers money back for their old Mango computers so that the materials used to make the computer can be retained within a closed system. Which of the primary environmental goals does Mango Tech's program address?

Reinvent the concept of a product.

Which of the following is NOT a dimension of social responsibility and marketing citizenship?

Technological

With respect to the classifications of number of competitors and barriers to entry, which one of the following statements is correct?

The monopoly and oligopoly structures' classifications should be reversed.

The three most widely recognized types of consumer decision making are

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

Cas is an account manager for the music production company, C3, and has always been an avid musician and music enthusiast. Cas is responsible for working with one of its major clients, State Farm Insurance, which is a major sponsor of various music festivals such as the Coachella Valley Music and Arts Festival, Bonnaroo, Lollapalooza, and Austin City Limits. In his free time, Cas plays guitar in a band and enjoys performing at open mic nights or the occasional gig. His job and his hobbies mesh s

self-concept

Various stakeholders and ____ determine the acceptable standards of conduct involving ethics.

the organization's ethical climate

Marketing research is best defined as

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

Digital influences have largely replaced

word-of-mouth referrals from neighbors, coworkers, and friends.

Which one of the following best characterizes a marketing information system (MIS)?

An MIS provides a continuous flow of information about such things as distribution costs, prices, sales, and advertising expenses.

Credit card companies maintain staffs of professionals whose primary responsibility is to monitor the activity on cardholders' accounts to spot potential fraudulent purchases or stolen cards. These staffs are employed to prevent which of the following?

Consumer misbehavior

Emily is buying furniture for her apartment for the first time. She is spending considerable time and effort comparing the products that different stores offer. Which type of decision-making process is she using?

Extended

Which of the following agencies regulates marketing activities the most?

Federal Trade Commission

In a period of economic recovery, the best marketing strategy for UPS would be characterized by which of the following features?

Flexibility

Which of the following is NOT one of the four objectives that environmentalists believe companies should implement in order to sustain the natural environment?

Force consumers to recycle products

Barney has to decide whether to travel to Chicago by train or airplane. Traveling by train would take longer, giving him potentially less time to spend in Chicago. However, traveling by air would be much more expensive. The train as a form of transportation is what type of competitor to air travel?

Generic

____ competitors provide very different products that satisfy the same basic customer need

Generic

What stage of the consumer buying decision process comes after problem recognition?

Information search

Within the information search step of the consumer buying decision process, what two primary aspects exist?

Internal search and external search

Company sales reports are often utilized as part of a company's marketing research activities and can provide insight about which colors and sizes are preferred by customers. Scentsy, a manufacturer of candle products, often utilizes sales reports to identify which styles of wickless candles are most popular and what wax scents customers prefer for the electric candle warmers. This insight enables Scentsy to streamline its manufacturing process and develop a just-in-time system to match produc

Internal secondary

Which of the following statements about implementing an ethics and legal compliance program is false?

It rarely needs to be revised.

Which one of the following is most likely to be a product for which both the purchasing decision and the brand decision are strongly influenced by reference groups?

Jeans

Refer to Scenario 3.3. Which environmental force is Bank of America responding to by agreeing to pay fines and refunds to consumers?

Legal and regulatory

Jada works at a cosmetics firm. Her firm wants to conduct a survey to get feedback from respondents across the United States. The cosmetics firm does not want to spend a great deal of money, but it did authorize Jada to include a small incentive as a way to increase the survey response rate. The survey it plans to send out assures consumers that their answers will remain anonymous. What type of survey is the cosmetics firm most likely to use?

Mail survey

Which of the following actions is illegal?

Paying political officials not to enforce a particular law

Which of the following is an example of consumer misbehavior?

Shoplifting

What is the major difference between social responsibility and marketing ethics?

Social responsibility deals with the total effect of marketing decisions on society, whereas marketing ethics relates to individual and group evaluations in marketing situations.

Which of the following statements about social responsibility is correct?

Social responsibility refers to a company's obligation to maximize its positive impact and minimize its negative impact on society.

You are being quizzed on your knowledge of marketing. A question on the quiz asks, "What is the ultimate goal of marketing research for a firm?" Which of the following is the best answer to this question?

To improve organizational performance

In marketing research, a sample is best described as

a limited number of units chosen to represent the characteristics of a total population.

Research suggests that a relationship exists between ______ and an organizational climate that supports marketing ethics and social responsibility.

a stakeholder orientation

Eva organized a boycott of a local restaurant because of the owner's obvious prejudicial treatment of Latinos. Eva's action would most likely be called

consumerism.

Refer to Scenario 5.2. Moki decided to apply some of the things he had learned in his marketing research class to his business. The first thing he should do is to ___________ which will help him ______.

define the problem to be researched; determine his data needs

The amount of money received through wages, rents, investments, pensions, and subsidies is called

income.

A major determining factor in deciding which type of decision-making process should be used depends on the individual's intensity of interest in a product and the importance of the product for that person. This is known as an individual's

level of involvement.

Grace recently visited a Starbucks store and wanted to purchase its $79.95 Teavana ice tea maker. She has never bought a Teavana product before, but she knows it is owned by Starbucks. Grace views Starbucks very positively and loves their drinks. Grace will most likely use ______________ when determining whether to purchase the ice tea maker.

limited decision making

Mitchell's 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. Mitchell is most likely to use _____ for this purchase.

limited decision-making behavior

Having recording biases and collecting only descriptive information are two of the primary drawbacks to

observation.

The four major competitive structures are

oligopolies, monopolies, monopolistic competition, and pure competition.

Hereditary characteristics combined with personal experiences that together make an individual unique form one's

personality.

The results of many studies have been inconclusive regarding the association between buyer behavior and

personality.

Marketers that attempt to influence and change the various environmental forces have a(n) ____ response to these forces.

proactive

Failure to maintain product quality and integrity in production may result in _____ if products are found to be defective.

product recalls

Pointing out any deficiencies and the possible reasons for them should be done in the ____ step of the marketing research process.

reporting research findings

The final step in the marketing research process is

reporting the research findings.

An overall plan for obtaining the information needed to address a research problem or issue is called the

research design.

Sarah is an interior decorator who frequents antique shops and estate sales to find items for her clients' homes and offices. She has developed a keen eye for antique rugs in particular. Currently, she is assessing a small Persian rug for a client's hallway. For Sarah, a small antique rug will likely have a _______ because she does not need to engage in extended decision making for a product she has purchased before.

routinized level of involvement

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

routinized response behavior

People's needs to grow, develop, and achieve their full potential are referred to by Maslow as ____ needs.

self-actualization