Exam 1: All McGraw Hill Chapter Quizzes

Dealer brands make up almost ________ percent of U.S. grocery store purchases (8)

30

During the purchase of new tooling at American Tool and Die, who is an example of a gatekeeper? (6)

Alessa, a research assistant gathering and distributing information about alternatives

What is the strategy comparison tool that uses stars, cash cows, question marks, and dogs to analyze SBUs? (3)

Boston Consulting Group Growth-Share Matrix

What is called for by the Nutrition Labeling and Education Act of 1990 (8)

Food manufacturers should use a uniform format that allows consumers to compare the nutritional value of different products

What is a disadvantage of quantitative research (compared to qualitative research)? (7)

It is harder to get in-depth answers

_______ refers to reliably getting products there exactly before the customer needs them (6)

Just-in-time delivery

When developing a strategy, how should marketing managers use information on trends and patterns about the different generations, including Baby Boomers, Generation X, and Millennials? (3)

Marketing managers should use generalizations about generations as a starting point only

Which statement about U.S. business and organizational customers is true? (6)

More goods and services are purchased by business and organizational customers than by final consumers

A fast-food chain is redesigning its restaurants. One of the main questions faced by the chain's management is, "Should the new restaurant design include a salad bar?" A researcher in the company finds that salad bars are costly to maintain and are not a major attraction for consumers. Based on this information, management decides that it will not have a salad bar as part of the new restaurant design. Which point is illustrated by this situation? (7)

Situation analysis sometimes eliminates the need for conducting further research in a problem area

Regarding product life cycles, which of the following is false? (9)

The level of promotion usually decreases in the market maturity stage, since there is less revenue to cover the cost

What is a common cause of new-product failures? (9)

The product fails to offer the customer a unique benefit

Which statement is true of Generation Z? (3)

This group is a part of a more ethnically diverse United States than their parents

Any series of firms or individuals that participate in the flow of products from producer to final user or consumer are known as (2)

a channel of distribution

secondary data are often available at little or no cost through (7)

a company's own files and reports

According to the text, product quality means that (8)

a product satisfies a customer's requirements or needs

Auto Coating Services, a vehicle painting company, designs a set of four paint colors that will only be used by custom motorcycle maker Kankakee County Bikes. This decision is an example of (6)

a relationship-specific adaptation

The most important variable in a firm's marketing mix is (2)...

all four because they contribute equally

advertising is (2)...

any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor

Secondary data from federal government sources (7)...

are often very helpful for estimating the size of a market

he shoe company Converse has an app that enables its customers to virtually see how any of their shoes would look on a customer's foot. The customer simply points their phone at their leg to see how a selected shoe would look on their foot. This is an example of (8)

augmented reality

When Hallmark stores offer a product line that includes everything you need to have a Spiderman-themed birthday party, what is the primary segmenting dimension that Hallmark is using? (4)

benefits sought

Generation Z refers to those born (3)

between 1995 and 2010

Brand recognition, brand preference, and brand insistence are various levels of (8)

brand familiarity

Seong frequently travels to Paris, France, where the only hotel he will stay at is Hotel d'Aubusson. His level of brand familiarity toward the Hotel d'Aubusson is (8)

brand insistence

________ means potential customers demand a firm's branded product and are willing to search for it (8)

brand insistence

Because more intermediaries are using computer systems to control inventory levels (6),

buyers can assess the profitability of competing products

The last step in the new-product development process is (9)

commercialization

Hal Johnson, purchasing manager for a company that makes golf carts, posted the purchase specifications for the seats on a new golf cart model his firm is building. Four suppliers submitted ________ that included the terms of sale each had to offer (6)

competitive bids

When new product ideas are chosen based on ratings and comments from customers, the process is called (9)

crowdsourcing

As a product moves through its product life cycle, (9)

customers' needs and attitudes may change

Positioning maps are based on (4)

customers' perceptions of products

What is the correct sequence in the marketing research process? (7)

defining the problem, analyzing the situation, getting problem-specific data, interpreting the data, solving the problem

Customer relationship management (CRM) helps consumer marketers (4)...

deliver a different marketing mix to different customer segments

Segmenting dimensions (4)...

help guide marketing mix planning

What is a source of primary data? (7)

in-depth interviews

In the five-step marketing research process, what happens after data is obtained? (7)

interpreting the data

The new-product development process (9)...

is based on the idea that a firm should eliminate potentially unprofitable product ideas as early as possible

branding (8)...

is more likely to be successful if demand for the general product class is strong enough to allow a profitable price

The segmenting step of the segmentation process involves (4)

looking for similarities in needs

The marketing manager at The Gentleman's Store, a chain of retail stores that sells men's clothing, is reviewing marketing research data to try to determine if changes in marketing strategy are needed. What describes a secondary data source? (7)

looking through the company's marketing information system to see past sales trends

The product life cycle is divided into four major stages. These are (9)...

market introduction, market growth, market maturity, and sales decline

In business markets, close buyer-seller relationships (6)...

may improve the profits of both the buyer and the seller

In its annual report, Nike claims "The reasons every Nike employee comes to work every day are to create great product, to lead the athletic industry in innovation, and to serve the athlete." This is Nike's (3)

mission statement

When Procter & Gamble offers both Pantene and Vidal Sassoon shampoos to its customers and uses different marketing mixes for each product, which target market approach is Procter & Gamble using? (4)

multiple

Pablo's Paving Contractors enters into a contract with City Supply for the purchase of 100 bags of cement per week for the next 16 weeks, at a price of $15 per bag. The contract also includes a condition that allows prices to be revised if costs go up more than $1 per bag. This purchase involves (6)

negotiated contract buying

Searching the internet, reviewing secondary data, and monitoring "chatter" on the web are inexpensive and informal ways for marketers to (7)

perform a situation analysis

A firm's decisions regarding channel of distribution would fall under the marketing mix variable of (2)

place

The ________Blank area of the marketing mix is concerned with decisions about getting the "right" product to the target market when and where it's wanted. (2)

place

Ford Motor Co. asks members of its target market to rate its cars and those of General Motors and Chrysler on a 7-point scale in terms of two dimensions (comfortable seats and engine power) so that it can establish a quadrant-grid map of these ratings. What type of analysis is Ford conducting? (4)

positioning

When PepsiCo asked its advertising agency to develop an advertising program for its Mountain Dew soft drink, it gave the agency a statement describing the age and fun-loving spirit of its target market and the one-of-a-kind citrus flavor of the new product. What type of statement was this? (4)

positioning

Proctor&Gamble is considered which type of organizational customer? (6)

producer

The "Four Ps" of a marketing mix are (2)

product, place, promotion, and price

The ________Blank area of the marketing mix includes decisions related to telling the target market or others in the channel of distribution about the right product (2)

promotion

In the introduction stage of the product life cycle, (9)

promotion is likely to be needed to build demand

The situation in which competitors offer very similar marketing mixes that customers see as close substitutes, and companies just compete with lower and lower prices as profit margins shrink, is called (3)

pure competition

Successful companies (9)...

put a person, a team, or a department in charge of the new-product development process

What are the two basic methods for obtaining primary information about customers? (7)

questioning and observing

When a market test for a new product is successful, the firm typically introduces the product in different regions of the United States in sequential stages. This process is called a (9)

rollout

Catalogs, point-of-purchase materials, and free samples are all examples of (2)

sales promotion

A product-market is a market in which (4)...

sellers offer very similar products to satisfy potential customers' needs.

target marketing (2)...

specifies some particular group of customers

When conducting a competitor analysis, it is important for managers to take the viewpoint of (3)

target customers

While setting the price of a product, what must managers consider? (2)

the cost of the whole marketing mix

"Product" means (8)

the need-satisfying offering of a firm

Organizational buyers purchase the same product from more than one source (6)...

to help ensure continuing supplies

Setting objectives and strategies for the whole company is a job performed by the company's (3)

top executives

Words, symbols, or logos that are legally registered for use by a single company are called (8)

trademarks

Baby Boomers are among the fastest-growing demographic groups on Facebook. Marketers need to study such trends because (3)

very large numbers of people make up this demographic

Under the common law system, consumers are expected to be protected by (3)

vigorous competition in the marketplace

When is repositioning needed? (4)

when customers are not viewing the brand the desired way