EMRAN MKTG 320 MIDTERM CHAP 1-4

Many U.S. companies first discovered marketing during the ________ era. A) market-oriented B) production-oriented C) retailing-oriented D) value-based marketing E) sales-oriented

A) market-oriented

After a firm has identified the various stakeholders and their issues and gathered available data related to an ethical decision-making situation, ________ should engage in brainstorming and evaluating alternatives. A) all parties relevant to the decision B) elected officials C) any individuals with competing interests D) the senior managers most involved E) key customers

A) all parties relevant to the decision

Elaine was tired of her leather pocketbook, so she sold it to her friend, Jeannie. This is an example of ________ marketing.

C2C

A(n) ________ is a group of products that consumers may use together or perceive as similar in some way. A) SBU B) STP C) promotional service D) product line E) market segment

D) product line

A product that is in a high-growth market but has a low market share would be classified as a ________ on the BCG matrix. A) cash cow B) dog C) ladder D) question mark E) star

D) question mark

From a marketing perspective, what role is played by professional bloggers? A) introducing new products to the marketplace B) recruiting employees C) sharing videos and photos of products D) reviewing and giving product and service recommendations E) engaging customers on behalf of companies

D) reviewing and giving product and service recommendations

The ________ for natural skin care company Burt's Bees is to "create natural, Earth-friendly personal care products formulated to help you maximize your well-being and that of the world around you." A) executive summary B) company description C) market analysis D) financial plan E) mission statement

E) mission statement

One example of a customer loyalty program is A) seasonal sales on top-selling items. B) a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases. C) an "everyday low price" policy on all products at a grocery store. D) a quantity discount offered for large purchases at an office supply store. E) an extensive customer service training program for new employees at a hair salon.

B) a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases.

Which of the following statements regarding conscious marketing is correct? A) It reflects a mechanistic view of business. B) It is independent of corporate purpose or culture. C) It recognizes that business is a subset of society, and that society is a subset of the planet. D) It sees limited overlap between the business and society, and between business and the planet. E) It is often grafted on to traditional business model, usually as a separate department or part of PR.

C) It recognizes that business is a subset of society, and that society is a subset of the planet.

Individuals achieve the ________ effect when they check in, post a picture to Instagram, upload a video to YouTube, or share a link to an article they have liked on Facebook. A) social B) interconnected C) connected D) media E) information

C) connected

Which of the following is a core aspect of marketing? A) increasing the company's profit B) satisfying as many needs as possible C) making product, place, promotion, and price decisions D) setting prices lower than all competitors E) creating a product that everyone will want to buy

C) making product, place, promotion, and price decisions

The publisher of the well-known Winnie-the-Pooh series wants to celebrate the 100th anniversary of the series, initiating a $200,000 campaign. This initiative represents the ________ component in the four Ps.

promotion

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes the value of _____

their time and energy

Amelia wants a very professional look for an interview with an accounting firm. A friend tells her about Your Look, a site that allows potential customers to virtually try on clothes and see what looks best. It even offers an interactive "custom fit" feature. After checking out her options, Amelia takes her measurements and orders a pantsuit without ever leaving her office. Virtually trying on a suit best describes which of the 4E framework objectives? A) experience B) energize C) educate D) excite E) engage

A) experience

_____ represents all the activities necessary to get the product to the right customer when that customer wants it

place

If a firm wants to develop a sustainable competitive advantage, it should A)examine its operations and customer relations to identify significant things competitors cannot easily copy. B)arrange to meet with competitors to discuss how to avoid direct competition C) begin an aggressive campaign to buy up competitors D) copy the innovative features of other firms that are attractive to customers E) Increase its marketing budget so that it outspends its competitors.

A) examine its operations and customer relations to identify significant things competitors cannot easily copy.

Which of the following actions would be the most likely to support and enhance an operational excellence macro strategy? A) Nike opening hundreds of new company stores in high-traffic shopping areas B) 3M Corporation implementing new software to improve communication with its suppliers C McDonald's lowering prices on its coffee drink D) Adidas inviting customer suggestions to guide the design of the next generation of shoes E) Singapore Airlines installing more comfortable seats in the economy-class cabins of its airplanes

B) 3M Corporation implementing new software to improve communication with its suppliers

An example of a popular microblogging site is A) Yahoo. B) Twitter. C) Google Analytics. D) Adobe Campaign. E) Microsoft Edge.

B) Twitter.

Compared to the average company, firms with strong ethical climates tend to A) employ more business development consultants. B) be more socially responsible. C) offer more goods and services. D) have higher turnover. E) invest more in sales training software.

B) be more socially responsible.

Cookie Cutter, a firm that manufactures high-end mixers, donates $10 per mixer sold to a local food bank. This is a form of A) tax relief. B) business ethics. C) corporate social responsibility. D) public relations. E) pandering to the public.

C) corporate social responsibility.

To build relationships, firms focus on the ________ of the relationship, not how much money is made during each transaction. A) value B) worth C) length D) lifetime profitability E) cost

D) lifetime profitability

Courses of action such as halting the market research project, making responses anonymous, and instituting training on the AMA Code of Ethics for all researchers would be identified during the ________ stage. A) planning B) brainstorming C) evaluation D) identification E) implementation

B) brainstorming

The process of value ________, in which customers collaborate in product design, often provides additional value to the firm's customers. A) based marketing B) cocreation C) chain management D) positioning E) delivery

B) cocreation

STP refers to A) substance, traffic, and pattern. B) strategy, tenacity, and place. C) segmentation, targeting, and positioning. D) sustainability, targeting, and product. E) segmentation, tendency, and preference.

C) segmentation, targeting, and positioning.

In a process called _______, a customer visits a store to touch, feel, and even discuss a product's features with a sales associate, and then instantly compares the prices online to see whether a better deal is available. A) matching B) highlighting C) showrooming D) window-shopping E) deal-finding

C) showrooming

The Bedford County School Board is concerned about deteriorating school facilities, combined with a shrinking budget. The board began by studying the issue, and then identified parents, children, teachers, staff, and taxpayers as groups who have a vested interest in the problem. The school board has listened to each group's concerns. In the ethical decision-making framework, its next action should be to A) choose a course of action. B) identify issues of concern to lawmakers. C) evaluate the legal ramifications. D) engage in brainstorming alternatives. E) assess impact of its actions beyond the classroom.

D) engage in brainstorming alternatives.

Nice 'n Easy sells handcrafted furniture. They have also recently begun offering appraisals of customers' antiques. Nice 'n Easy is A) capturing value through multiple pricing strategies. B)expanding from offering just services to also offering goods. C) implementing a market segmentation strategy. D) expanding from offering just goods to also offering services. E) increasing customer value through inflated appraisal evaluations.

D) expanding from offering just goods to also offering services

Learn to Go sells its foreign language dictionaries to college students throughout the United States. Samuel Marcus, the owner, wants to start selling these products to international students abroad. Marcus wants to pursue a ________ growth strategy. A) market penetration B) product proliferation C) product development D) market development E) Diversification

D) market development

he process of dividing the market into groups of customers with different needs, wants, or characteristics is called A) allocation. B) target marketing. C) value capture. D) market segmentation. E) positioning.

D) market segmentation.

For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements with other countries creates a) strengths. b) weaknesses. C) threats. D) opportunities. E) strategic plans.

D) opportunities.

For corporate leaders, their firm's ability to ________ must be of paramount importance. A) benefit shareholders only B) make a profit C) balance employees' needs with the needs of the environment D) balance profits and expenses E) balance shareholder interests with the needs of society

E) balance shareholder interests with the needs of society

The idea of value-based marketing requires firms to charge a price that A) matches competitors' prices. B) covers costs and generates a modest profit. C)includes the value of the effort the firm put into the product or service. D) prioritizes customer excellence above operational excellence. E) captures the value customers perceive that they are receiving.

E) captures the value customers perceive that they are receiving.

When Volkswagen owners began to report problems with rear coil springs, Volkswagen at first ignored or rejected the claims. Eventually, the company evaluated the issue and issued a recall. Which of the four steps of the ethical decision-making framework was Volkswagen performing when it recalled several of its models? A) brainstorm and evaluate alternatives B) assess risk C) gather information and identify stakeholders D) identify issues E) choose a course of action

E) choose a course of action

When integrating conscious marketing into a marketing strategy, a key task is to ensure that all managers are evaluated on their actions from a conscious marketing perspective. This action would take place during which stage of the strategic marketing planning process? A) control phase B) revision phase C) brainstorming phase D) implementation phase E) planning phase

A) control phase

For companies, what digital marketing tool can both educate and excite customers? A) corporate blog B) weblog C) professional blog D) microblog E) personal blog

A) corporate blog

Among Internet users, some do research online, some shop, some look for entertainment, and many do all three. Each of these groups would be called a A) market segment. B) strategic group. C) cash cow. D) marketing metric. E) strategic business unit.

A) market segment.

If a firm adopts a CRM business philosophy, it most likely has a(n) ________ orientation with its customers. A) external B) relational C) divisional D) transactional E) internal

B) relational

When companies embrace ________, they appeal not only to their shareholders but also to all of their key stakeholders. A) CSR B) social media C) profit-sharing D) conscious marketing E) conscious advertising

D) conscious marketing

________ are free to download, but appear as ads on the screen; they generate revenue while users interact with the app. A) Freemium apps B) In-app purchases C) Paid apps with in-app purchases D) Paid apps E) Ad-supported apps

E) Ad-supported apps

Gracie loves to read and write. She started a blog about young adult books, including writing hints and book reviews. The readership of her blog gradually increased, and eventually publishers started sending her new books, hoping she would review them. Over time, Gracie's blog has changed from a __________ blog to a __________ blog. A) social; network B) personal; social C) professional; personal D) professional; network E) personal; professional

E) personal; professional

Which element of the marketing mix deals with supply chain management?

place

which element of the marketing mix is most relevant to the activity "delivering value"?

place

Yanie is developing a marketing campaign for an organic stain-removal product. As "stain removal" is rather dull, she is trying to educate consumers about the value and uniqueness of the product, and appeal to the environmentally conscious. Which of the following is the best social media application for this task? A) blog B) LinkedIn C) Twitter D) Facebook E) Instagram

A) blog

The development of strong, eye-catching images and designs is important in the ________ step of developing a digital marketing campaign. A) campaign development B) identify the strategy and goals C) monitor and change D) identify the target audience E) budget development

A) campaign development

axim's Complete Cameras offers its customers an interactive website to help them choose the best camera for their lifestyle. But the site's most-used feature is its user blog in which customers—both satisfied and unsatisfied—talk about products they have purchased, and the service received at Andrew's. The user blog best describes which of the 4E frameworks for the store's customers? A) engage B) energize C) experience D) educate E) excite

A) engage

Counting followers may not be sufficient to determine the value of an influencer, since there is a growing problem of fraud, such as when unethical "click farm" service providers offer to sell followers to social media personalities. So companies need to consider the 4Rs, which are A) relevance, reach, response, and return. B) relevance, relationship, response, and return. C) relationship, rapport, response, and relativity. D) relevance, rapport, response, and relationship. E) rapport, reach, response, and return.

A) relevance, reach, response, and return.

As owner of a retail franchise food store, Elena purchases supplies based on specials advertised nationally throughout the franchise system. One Monday, she was surprised to find customers asking for specials she hadn't been informed of in advance. The franchise company failed to live up to the value-driven activity of A) sharing information across the organization. B) keeping prices below those charged by competitors. C) evaluating strategic competitive partnerships. D) building relationships with customers. E) balancing customers' benefits and costs.

A) sharing information across the organization

Raoul is giving his wife a Hermès wallet for her birthday. It cost $2,000, but Raoul thinks this is a very fair value. Value here means that A) the product meets his needs and is offered at a price that is a fair value. B) the wallet is cheap in comparison with its competition. C) Raoul could not find a wallet that cost less. D) it was convenient to purchase the wallet, even though the price is not reasonable. E) anyone would think that the wallet is a reasonable price.

A) the product meets his needs and is offered at a price that is a fair value

Michele's Beauty Secrets is a new, organic-based makeup line. Michele would like to hire Cassie Thorpe, a renowned makeup artist, to demonstrate the use of Michele's Beauty Secrets in her blog. Michele knows that Cassie's followers will be highly interested in her product line. Which factor is Michele considering at this point? A) the relevance of Cassie's background B) the response that is generated C) the anticipated return D) the number of hits to Cassie's blog E) the reach of Cassie's blog

A) the relevance of Cassie's background

Which of the following factors, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of a threat? A) The factory that manufactures a new, popular car cannot build enough vehicles to meet the demand, while other factories have excess capacity. B) A New York law firm has filed a $10 million class action suit against the company on behalf of car owners whose gas tanks exploded. C) The company has lower manufacturing costs than its key competitors, allowing it to sell its cars at low prices. D) Due to outdated engine technology, the company's cars get lower gas mileage than those of major competitors. E) Recent consumer studies have indicated that Chinese consumers prefer American cars.

B) A New York law firm has filed a $10 million class action suit against the company on behalf of car owners whose gas tanks exploded.

Makenna, the outside sales rep for a brick and stone company, reads a report stating that building permits are down dramatically in her sales territory. She had noticed that things were slowing down, but now she has data confirming her impression. Based on this information, Makenna will help her company become more value-driven if she A) pushes her customers to buy products whether they need them or not. B) advises the production and purchasing departments to produce or order smaller quantities of products. C) avoids contacting her customers until the slowdown ends. D) keeps the information to herself E) avoids contact with competing firms in order to maximize value-driven marketing.

B) advises the production and purchasing departments to produce or order smaller quantities of products.

For every consumer who purchases a pair of TOMS shoes, the company promises that a needy child will receive a pair of shoes. TOMS shoes is actively engaging in A) overpricing of its products. B) corporate social responsibility. C) business ethics. D) environmental marketing. E) marketing ethics.

B) corporate social responsibility.

Matthew has been asked to approve a marketing campaign that, although it is not illegal, promotes food products to children. He is concerned that the food products are not particularly nutritious, although they are not as bad for children as some others sold by competitors. By using the ethical decision-making metric, Matthew will A) not worry about the children; their parents are likely to make the buying decision, and they should be able to decide for themselves. B) evaluate the alternative using a series of questions. C) consider the profit potential first; then explore the vague tests in the metric. D) consult the firm's code of ethics for guidance and leave personal ethical considerations out of the decision-making process. E) ignore the metric as unworkable, since the campaign might pass some of the tests and fail others.

B) evaluate the alternative using a series of questions.

Which app pricing model is used by the app Candy Crush Saga? A) in-app purchases B) freemium apps C) paid apps D) ad-supported apps E) paid apps with in-app purchases

B) freemium apps

During which step of the marketing planning process does a firm engage in segmentation, targeting, and positioning? A) evaluate performance using marketing metrics B) identify and evaluate opportunities phase C) conduct a situation analysis D) implement marketing mix E) define business mission and objectives

B) identify and evaluate opportunities phase

The three-stage process that firms use to engage customers through social, online, and mobile media involves A) listening analyzing, and correcting. B) listening, analyzing, and doing. C) reviewing, analyzing, and implementing. D) listening, accomplishing, and reviewing. E) implementing, reviewing, and correcting.

B) listening, analyzing, and doing.

Many inventors struggle with the question, "I made it; now how do I get rid of it?" They have made the error of not creating a(n) a) social media campaign. b) marketing plan. c) value proposition. d) advertising campaign. e) profit center.

B) marketing plan

E-books, in addition to being an alternative product form, provide ________ value creation since they can be downloaded via the Internet immediately when and where they are needed. A) promotion B) place C) product D) primary E) price

B) place

Google and other search engines allow marketers to bid to have their ads shown when consumers search keywords related to the firm's products. These marketers are attempting to create value through A) product. B) promotion. C) place. D) price. E) cost-based measures.

B) promotion.

The first step in the process of creating a digital marketing campaign is to A) monitor the program. B) set goals. C) design the elements of the campaign. D) develop a budget. E) identify the target audience.

B) set goals.

Marketing ethics is concerned with A) distinguishing between right and wrong actions in a business setting. B) the sale of products or services that may damage the environment. C) representing the good that a product can do. D) the use of well-paid labor. E) marketing products that are safe for children.

B) the sale of products or services that may damage the environment.

How might Starbucks ensure that it behaves in a socially responsible way toward members of its supply chain? A) Social responsibility isn't relevant where channel partners are concerned; it has to do with serving society as a whole. B) It can pay its employees minimum wage as required by law. C) It can purchase coffee beans from suppliers who pay coffee growers a fair price. D) It can offer healthy drinks and snacks in its stores. E) It can use cups made from recycled paper.

C) It can purchase coffee beans from suppliers who pay coffee growers a fair price.

Imagine the use (or misuse) of data collected from consumers by a marketing research firm. One of the issues that might arise is the way the data are collected. At what step in the framework for ethical decision making would this issue be identified by the marketing research firm? A) Step 3—brainstorming alternatives B) Step 5—reviewing outcome of decision C) Step 1—identifying issues D) Step 2—gathering information and identifying stakeholders E) Step 4—choosing a course of action

C) Step 1—identifying issues

At the Mallana Resort, located in Florida, a Twitter concierge stays in constant contact with its guests. If a guest has a problem or question, the answer is just a hashtag away. This is an example of the impact of which of the following? A) information effect B) connected effect C) dynamic effect D) network effect E) interconnected effect

C) dynamic effect

A competitive advantage based on location is often sustainable because A) the Internet has diminished the importance of brick-and-mortar stores. B) mobile marketing has not yet proven its value for most customers. C) it is not easily duplicated. D) real estate prices have been dropping. E_ few marketers are aware of its importance yet.

C) it is not easily duplicated.

Which of the following growth strategies employs the existing marketing mix and focuses the firm's efforts on existing customers? A) product penetration B) diversification C) market penetration D) market development E) product development

C) market penetration

Which of the following is one of the four major growth strategies marketers typically utilize? A) segment evaluation B) pattern and process C) market penetration D) segment development E) sustainability emphasis

C) market penetration

Data about how, when, why, where, and what people buy refers to a) demographics. b) value-based marketing. c) marketing analytics. d) relational orientation. e) statistics.

C) marketing analytics

When making decisions, managers often have to decide between doing what is beneficial for themselves (and possibly the firm) in the short run and doing what is right and beneficial for the firm and for society in the long run. To address this conflict, a firm A) must state its long-term goals in general terms, so as to not interfere with managers' short-term goals. B) must evaluate its quarterly profit statement from an ethics standpoint. C) must align the short-term goals of each employee with the long-term, overriding goals of the firm. D) must always put society's needs ahead of the firm's needs. E) should adhere rigidly to legal standards in its industry.

C) must align the short-term goals of each employee with the long-term, overriding goals of the firm.

Effective promotion enhances a product or service's A)design features B) trialability C) perceived value D) wholesaling capabilities E) supply chain management system.

C) perceived value

Some banks offer special accounts designed to attract junior high school students. These kids save in such small amounts that the accounts cost banks more to maintain than they are worth; however, bankers know that consumers are creatures of habit and hope that the young people they serve now will become adult customers. These banks recognize A) that product excellence leads to loyal customers. B) that as long as customers bring in some revenue, costs do not matter. C) the importance of making decisions based on short-term results. D) the lifetime value of customers. E) that operational excellence is an important macro strategy.

D) the lifetime value of customers.

Which of the following is the most powerful and influential online marketer in the United States? A) Facebook B) Twitter C) Google D) YouTube E) Amazon

E) Amazon

One important measure of social media's effectiveness is the percentage of site visitors who take the action the site owner hoped for—making a purchase, subscribing to a service, or donating money, for example. This measure is called the site's A) click paths. B) hits. C) extended network. D) bounce rate. E) conversion rate.

E) conversion rate.

The definition of corporate social responsibility addresses A) employee salaries. B) social media. C) the profit motive. D) the golden bottom line. E) environmental impact.

E) environmental impact.

Vikram's company manufactures industrial ladders. He is concerned that consumers who do not understand ladder safety will purchase these extra-tall ladders and injure themselves. During which phase of the strategic marketing planning process should this issue be addressed? A) control B) planning C) ethics D) design E) implementation

E) implementation

The sale of products that may damage the environment, the use of sweatshop labor, and the marketing of dangerous products are examples of A) ethical issues but not marketing issues. B) issues that don't even need to be discussed in ethical firms. C) marketing issues but not ethical issues. D) internal, controllable marketing issues. E) marketing ethical issues.

E) marketing ethical issues.

Vikram opened a shoe store and signed a lease on the property. He also signed an agreement with the manufacturer on the amount of merchandise he will sell and the promotions he will conduct. Based on this description, which aspect of the marketing mix does he still need to work on? a) prototype b) product c) promotion d) place e) price

E) price

The first objective in the evaluate performance phase of the marketing planning process is to A) consider changing the target market. B) determine whether to raise or lower prices. C) adjust advertising allocations. D) find ways to cut costs. E) review implementation programs and results using metrics.

E) review implementation programs and results using metrics.

When a company that uses social media runs a contest online, it will measure its effectiveness in a variety of ways. One such measure is the conversion rate. The conversion rate for the contest promotion would be A) the number of people who entered the contest. B) the number of people who entered the contest plus the number of people who visited the page describing the contest. C) the percentage of fans of the company's page who learned about the contest. D) the number of people who visited the page describing the contest. E) the percentage of visitors to the page describing the contest who entered the contest.

E) the percentage of visitors to the page describing the contest who entered the contest.

Many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. These special issues are an example of

customer relationship management