Exam 1

________ represents all activities necessary to get the product to the right customer when that customer wants it. a. Promotion b. Supply chain marketing c. Value cocreation d. Place e. Social media

d. Place

Henry Ford's statement, "Customers can have any color they want so long as it's black," typified the ________ era of marketing. a. Retailing-oriented b. Market-oriented c. Sales-oriented d. Production-oriented e. Value-based marketing

d. Production-oriented

In Boston, foot-long sandwiches are called "grinders," while in many other parts of the country they are called "subs." This is an example of the impact of a. Country culture b. Traditions c. Social norms d. Regional culture e. Attitudes

d. Regional culture

Claire is watching a movie on her Netflix app after a long hard day of being a lawyer. Which need is Claire satisfying? a. Discover b. Self-expression c. Accomplishment d. Shopping e. "Me time"

e. "Me time"

The process of value ______, in which customer collaborate in product design, often provides additional value to the firm's customers. a. Positioning b. Delivery c. Communication d. Capture e. Cocreation

e. Cocreation

According to one definition, CSR can be described as context-specific actions and policies, taking stakeholders' expectations into account, to achieve what is referred to as the triple bottom line. The trip bottom like includes ________ performance. a. Economic, social, and political b. Economic, humanitarian, and ecological c. Financial, social, and political d. Financial, social, and environmental e. Economic, social, and environmental

e. Economic, social, and environmental

Mila is a travel agent. Whenever she sells an expensive vacation package, she encourages the customer to buy travel insurance, which provides reimbursement in case of trip cancellation due to illness or another emergency. Selma is trying to reduce her customers' _______ risk. a. Psychological b. Performance c. Physiological d. Social e. Financial

e. Financial

In Candy Crush Saga, you get five lives to play in the game. When you lose a life, it takes 30 minutes in real-time to get that life back, or you can spend $0.99 to get all five lives back. Candy Crush Saga is an example of what type of app pricing model? a. Paid app b. Ad-supported app c. Paid app with in-app purchases d. Premium app e. Freemium app

e. Freemium app (?)

When considering income as a demographic variable affecting marketing efforts, marketers need to recognize that a. Everyone is equal b. Everyone has been equally affected by the recession c. There is increasing purchasing power among lower-income groups d. Middle-income consumers are quickly becoming upper-income consumers e. Income in the US has become more unevenly distributed

e. Income in the US has become more unevenly distributed

At George Mason University, Professor Jones and another marketing professor realize they need a specific type of software to be able to do their research. Recognizing this need, the two professors go to the head of the marketing department to ask for the Business School to purchase the software. These two faculty members are the ________ in the buying center. a. Buyers b. Influencers c. Deciders d. Gatekeepers e. Initiators

e. Initiators

Suppose that Volkswagen is preparing an RFP for a hands-free phone connection for a new car model. All of the following would be included in the RFP except a. A vendor analysis b. A description of the required features for the device c. A time frame when the devices are needed d. Specifications for connecting the device to the car e. Instructions for preparing proposals

a. A vendor analysis

A local art gallery keeps information on its customers regarding their preferences for certain artists as well as the style of art that interests them. The gallery uses this information to inform the customer when new products arrive from their favorite artists and targets them with special promotions. In this way, the gallery is using _____ to build loyalty among its customers. a. Customer relationship marketing b. Value cocreation c. Transactional marketing d. B2B marketing e. The supply chain

a. Customer relationship marketing

Zara is Sharaya's favorite clothing retailer. Zara is headquartered in Spain, with stores located in many countries. Zara has developed a "quick response" system that allows store merchandise to be adjusted rapidly to fit change customer preferences. Every aspect of Zara's operation is optimized for this system, making it difficult for competitors like The Gap to duplicate. Zara has established a. Locational excellence b. A diversification growth strategy c. Customer loyalty d. A sustainable competitive advantage e. A related diversification opportunity

d. A sustainable competitive advantage

The final stage in the business-to-business buying process is to a. Place the order b. Select the vendor c. Address additional needs d. Assess vendor performance e. Prepare an RFP

d. Assess vendor performance

Rihanna's Fenty Beauty line created a new, organic-based makeup line. Rihanna wants to hire Cassie Thorpe, a renowned makeup artist, to demonstrate the use of the new makeup line in her blog. Rihanna knows that Cassie's followers will be highly interested in the new product line. Which factor is Rihanna considering when thinking of using Cassie as an influencer? a. The response that is generated b. The reach of Cassie's blog c. The number of hits to Cassie's blog d. The relevance of Cassie's experience e. The anticipated return on investment

d. The relevance of Cassie's experience

If Addison Rae posts on Instagram about her ITEM beauty products at Sephora, the post has the potential to instantly reach all 40 million of her followers. What effect of social media engagement is this an example of? a. Information effect b. Timelessness effect c. Dynamic effect d. Connected effect e. Network effect

e. Network effect

Many Hollywood movie stars were among the first to buy electric hybrid vehicles. These stars often become ______ influencing other consumers' behavior. a. Internal locus of control b. Cultural icons c. Cognitive parameters d. Evoked images e. Reference groups

e. Reference groups

In most countries, ________ is (are) among the largest purchasers of goods and services. a. Procter & Gamble b. Construction firms c. The intelligence agency d. Hospitals e. The central government

e. The central government

Successful firms focus their efforts on satisfying customer needs that a. Match their core competencies b. Are easiest for them to satisfy c. Provide minimal core value d. Are important to all generational cohorts e. Competitors have tried and failed to satisfy

a. Match their core competencies

When Porsche filmed an advertisement in which its vehicles ran over the Great Wall of China, Chinese consumers were left more confused than intrigued. To address or avoid such issues, one important cultural classification scheme that firms can use is Hofstede's cultural dimensions concept. Hofstede proposes that cultures differ on all of the following dimensions except a. Materialism b. Individualism c. Masculinity d. Time orientation e. Indulgence

a. Materialism (?)

_________ is also referred to as "digital natives" because they were born into a world that was already full of electronic gadgets and digital technologies. a. Generation Alpha b. Generation Z c. Generation Y d. Generation X e. Baby Boomers

b. Generation Z

Firms that hire (or encourage) well-known names to promote brand messages to their networks of followers are using a. Information effect b. Influencer marketing c. Social listening d. Network effect e. Connected effect

b. Influencer marketing

When Walmart considers reordering items for its stores, its buyers are instructed to negotiate price concessions, quality improvements, and/or added options. In this situation, Walmart buyers are engaged in a(n) _______ situation. a. Modified rebuy b. New buy c. Straight rebuy d. Adapted buy e. Generic buy

a. Modified rebuy

In the consumer decision process, we decide how much time and effort to expend searching for information based partly on a. The degree of perceived risk associated with the product or service being considered b. Postpurchase dissonance c. The outcome of the alternative evaluation process d. The results of habitual decision making e. The results of the external search

a. The degree of perceived risk associated with the product or service being considered

Which test asks the question, "Would I like to be on the receiving end of this action and all its potential consequences?" a. The golden rule test b. The transparency test c. The moral mentor test d. The publicity test e. The person in the mirror test

a. The golden rule test

_________ entails a sense of purpose for a firm that is higher than simply making a profit by selling products and services. a. Corporate social responsibility b. Conscious marketing c. Triple bottom line d. Ethical marketing e. The 4Ps

b. Conscious marketing

This type of blog typically provides the highest level of digital marketing control for companies a. Professional blog b. Corporate blog c. Personal blog d. Microblog e. Weblog

b. Corporate blog

Global expansion often begins with a. Franchising b. Exporting c. Joint ventures d. Direct investment e. Strategic alliance

b. Exporting

Changes in tariffs and quotas are a. Business actions stimulating imports b. Government actions that reduce competition from international firms c. Corporate strategies designed to maximize profits d. Efforts to stimulate choices among government agencies e. A means of slowing outsourcing

b. Government actions that reduce competition from international firms (?)

The Wheel of Social Media Engagement includes the following five effects as drivers of social media: _______, connected, network, dynamic, and timeliness. a. Communication b. Information c. Interconnected d. Social e. Community

b. Information

A(n) _______ is a need or want strong enough to cause a person to seek satisfaction. a. Locus of control b. Motive c. Attitude d. Perception e. Affective component

b. Motive

The greater discrepancy between a consumer's needy state and the desired state, the greater a. the size of the universal set will be. b. the consumer's need recognition will be. c. time needed to satisfy the need. d. the amount of external information search will be needed. e. the effort consumers will invest in searching for alternatives.

b. the consumer's need recognition will be.

George Mason's ski team is buying new equipment. The team's coach has invited all team members to make recommendations, after which he will select the successful vendor. The skiing team's buying center has a(n) _________ organizational culture. a. Autocratic b. Consensus c. Consultative d. Democratic e. Bureaucratic

c. Consultative

During the _____ phase of the strategic marketing planning process, marketers utilize systems to check whether each conscious marketing issue raised in earlier phases were addressed. a. Implementation b. Planning c. Control d. Assessment e. Conscious marketing

c. Control

When Alyssa decided to buy a new computer, she considered all the brands she could recall seeing advertised and those her friends have. The products she recalled represent Alyssa's _________ set a. Universal b. Retrieval c. Evoked d. Deterministic e. Behavioral

c. Evoked

Which of the following is a social trend marketers are focusing on lately? a. Thrifting b. Environmental legislation c. Health and wellness d. Economic concerns e. Technological advances

c. Health and wellness

When considering global marketing opportunities in Bangladesh, Trey asked the question, "how will we get our products there?" Thomas is concerned about ______ capabilities in Bangladesh. a. Production capacity b. Pricing c. Infrastructure d. Advertising e. Cultural

c. Infrastructure

How might Starbucks ensure that it behaves in a socially responsible way toward members of its supply chain? a. It can pay its employees minimum wage as required by law b. It can use cups from recycled paper 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 protect the privacy of personal information collected through its app

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

In a SWOT analysis, increasing gasoline prices would represent a potential ______ for manufacturers of gasoline cars. a. Locational advantage b. Weakness c. Opportunity d. Threat e. Operational advantage

c. Opportunity

Many teenagers have clothes they purchased in the past that they "would not be caught dead in" today. When they occasionally see those clothes in the back of their closet, these teenagers probably fee a. Cognitive bias b. Psychological risk c. Postpurchase cognitive dissonance d. Need recognition e. Physiological risk

c. Postpurchase cognitive dissonance

Which element of the marketing mix is most relevant to the activity "capturing value"? a. Product b. Place c. Price d. Promotion e. Purchasing

c. Price

Frank lives according to his own rules, unconcerned about designer labels, brand names, and luxury items. Frank is at which level of Maslow's Hierarchy of Needs? a. Safety b. Love and belonging c. Self-actualization d. Esteem e. Physiological

c. Self-actualization

Although he has never owned a Jaguar, Elias thinks they are poorly made and have many mechanical problems. For Jaguar to sell Elias a car, the company would need to change the _______ component of Elias's attitude. a. Social b. Affective c. Functional d. Cognitive e. Behavioral

d. Cognitive (?)

Ironically, while the leaders of Enron Corporation were manipulating the company's finances for their personal benefit, the company was a major donor to Houston area charities. Enron had unethical business practices but was also a. Practicing marketing ethics b. Falsifying the company's finances through charitable donations c. Creating a local ethical business climate d. Demonstrating corporate social responsibility e. Manipulating the public sentiment for its own benefit

d. Demonstrating corporate social responsibility

__________ attributes are product or service features that are important to buyers that are used to differentiate among choices. a. Retrieval b. Financial c. Social d. Determinant e. Safety/performance

d. Determinant

Macroenvironmental factors include culture, demographics, social trends, and the _________. a. Corporate partners b. Competition c. Company d. Economic situation e. Consumer trends

d. Economic situation

In is not unusual to see firms offering free product samples in grocery stores to let customers try the product before buying it. Similarly, in today's world of digital marketing, one can read a chapter of a book before buying it or watch YouTube videos on different ways to use a product. All of these scenarios are aimed at which aspect of the 4E framework? a. Engage b. Energize c. Excite d. Experience e. Educate

d. Experience

Using the BCG portfolio analysis, a "dog" should be phased out unless a. Its marketing manager is a champion of the product b. Additional resources could increase its relative market share slightly c. The market has a small chance of rebounding d. It complements or boosts the sales of another product e. None of the above - dogs should always be phased out

d. It complements or boosts the sales of another product

Taylor Swift has decided to do a SWOT analysis to help her decide what the next album "era" will be. She is now focusing on the external environment part of the SWOT. The external environment includes a. Strengths and weaknesses b. Strengths and opportunities c. Weaknesses and threats d. Opportunities and threats e. Weaknesses and opportunities

d. Opportunities and threats

Limited problem solving usually relies on a. Situational stimuli and attitudes b. External searches for information c. Financial analysis of performance risk d. Past experience more than on external information e. Evaluation of the universal set

d. Past experience more than on external information