Final Exam - MKTG 3650

Which phrase represents a useful governing supply chain mantra? -"Move quickly and quietly" -"Faster, better, cheaper" -"Walk softly but carry a big stick" -"Push or pull, there is no try" -"Disrupt whenever possible"

"Faster, better, cheaper"

When communicating with customers, marketers are now operating during an age of: -"Shotgun-like" target marketing. -"Nuclear-like" target marketing. -"Price-based" target marketing. -"Death by advertising" marketing. -"Laser-like" target marketing.

"Laser-like" target marketing.

Four prices are listed below. Which amount best illustrates the use of a psychological price? -$2.89 -$3.99 -$1.00 -$100.00 -None of the above

$3.99

The features, design, quality level, brand and packaging of branded products as well as their shapes and colors describes: -Core benefits. -Actual products. -Augmented products. -Differentiated products. -None of the above.

Actual products.

Which of the following activities or processes does not fit inside the marketing definition provided inside this Module? -The social process -A managerial process -Needs and wants -The exchange of value -Advertising

Advertising

___________________ is any form of one-way, paid (with sponsor identified), and impersonal communication aimed at targeted customers. -Promotion -Advertising -Selling -Direct marketing -Sales promotion

Advertising

The term ___________ refers to the overwhelming glut of ad messages to which domestic consumers are exposed on basically an everyday basis. -Advertising glut -Advertising exposure -Advertising crowding -Advertising clutter -Advertising growth

Advertising clutter

Which of the following is the most important segmentation criteria for the majority of pharmaceutical marketers? -Gender -Income -Religion -Ethnicity -Age

Age

Who said you cannot solve problems using the same sort of thinking that created them? -Mr. Tesla -Albert Einstein -Steve Jobs -Bill Gates -Thomas Edison

Albert Einstein

Who said, "You cannot solve problems by using the same sort of thinking that created them"? -Kemmons Wilson -Joseph Schumpeter -Henry David Thoreau -Albert Einstein -Kanye

Albert Einstein

Which of the following items can be marketed as products? -Ideas -Person -Places -All can be marketed as products -None of the preceding items can be marketed as products

All can be marketed as products

Behavior-based segmentation is one of the several segmentation strategies marketers use. Several types of behavioral based segmentation exist. Which one or ones is the behavioral based segmentation strategy? -Occasion-based segmentation -Benefit based segmentation -Usage rate-based segmentation -A+B -All of the above

All of the above

Market share is the ratio between the firm's sales volume and the entire industry's sales volume. Firms often find it difficult to maintain their current market shares. Why? -Increases in competition -Changes in customers wants and needs -The need that sometimes arises to raise prices -Market conditions change -All of the above

All of the above

Marketers should develop plans intended to manage _________ before they actually commercialize new products and introduce them to targeted B2C market segments. -Absolute costs -Switching costs -Perceived or actual customer risks of adoption -The need for social approval -All of the above

All of the above

Tangible product can be marketed and differentiated based on their ability to provide (deliver) intangible services. Which of the following answers illustrates this possibility? -Providing ten-year, 100,000 miles warranties for autos. -Offering free lifetime inspection for autos. -Offering free rental car services for up to five days when you purchase an auto from a dealership -All of the above -None of the above

All of the above

The fact that product life cycles exists suggests that organizations should be prepared to _______ . -Continuously develop new products. -Continuously track rising and falling trends. -Develop ongoing insights about consumer preferences. -Constantly replace old products with new products. -All of the above

All of the above

The lessons embedded in the twelve principles for strategic success that are discussed in this Module are applicable to: -Successful Marketers -Successful Managers -Successful Organizations -All sorts of professionals -All of the above

All of the above

What factors contribute most to most people's professional success? -IQ -Family circumstances into which they born -Self-control -All of the above -None of the above

All of the above

When properly executed, the marketing mix may shape consumers' _______________ brands and organizations. -Perceptions of -Opinion about -Attitudes toward -Preferences for -All of the above

All of the above

Which characteristic is usually associated with effective brand names? -The name is distinctive -Extendable to new products -The brand name is easy to pronounce, or not -The brand name is memorable -All of the above

All of the above

Which core competency helps marketers achieve sustainable differentiation and more desirable positions? -Customer-intimacy -Technological-leadership -Cost-based advantages -All of the above -None of the above

All of the above

Which following controllable marketing stimuli influences consumer behavior decision making? -Product elements -Price elements -Place (or supply chain) elements -All of the above -None of the above

All of the above

Which intellectual asset should marketing professionals seek to develop and exploit as they develop strategic plans? -Foresight -Hindsight -Insight -All of the above

All of the above

Which of the following terms does not describe a basic supply chain flow? -Physical flows -Financial or payment flows -Promotional or communication flows -All of the above are basic flows. -None of the above are basic flows.

All of the above are basic flows.

What behavioral tendency would most hinder a marketer's ability to make predictions in an unpredictable market? -An over-reliance on consumers opinions -An over-reliance on their own opinions -An over-reliance on competitor's opinions -An over-reliance on co-worker's opinions

An over-reliance on their own opinions

In statistical assessments, the measurement known as mean is the: -Most frequently occurring value -Average value -Spread between the lowest and highest occurring value -Range between the highest and lowest occurring value -Value that sets right in the middle in any list of values

Average value

Innovative ideas must be complex in nature. That's because consumers typically seek many options, choices and features in new products - a tendency that makes complex products much more desirable. -Both statements are true. -Both statements are false. -The first statement is true; the second false. -The first statement is false; the second true.

Both statements are false.

Supply chains are like rivers; they will run or flow whether or not they are managed. But, unlike wild rivers, which sometimes should be left alone, it is always best to manage supply chains. -Both statements are true. -Both statements are false. -The first statement is true; the second statement is false. -The first statement is false; the second statement is true.

Both statements are true.

Many contemporary advertisements feature songs that end up being closely associated with the brands being promoted in the ads. For example, in 2016 Gatorade continuously ran an ad that featured the Kanye West song "All of the Lights." When songs like this become associated with brands those songs function as ________ for the brands. -Brand Amplifiers -Brand Identifiers -Brand Narratives -Sources of Brand Equity -Indicators of Brand Personality

Brand Identifiers

Public relation communications can and should be used to build and protect _________________. -Value -Brand equity -Consumer attention -Discount loyalty -Premium, or skimming-the-cream pricing levels

Brand equity

What term do marketers use to describe the extent to which customers willingly pay more for particular branded products as opposed to other branded products from the same product category? -Brand leverage -Brand power -Brand equity -Brand loyalty -None of the above

Brand equity

The term _______________ is used to describe strongly-held customer preferences for particular brands. -Brand love -Brand passion -Brand interest -Brand loyalty -Brand obsession

Brand loyalty

Marketers often attempt to align elements of their _______ to consumers' ideal self-concepts in order to create positive attitudes towards the brand. -Brand's core values -Brand's personality -Brand's utility -Brand's meaning -Brand's symbols

Brand's personality

_______________ are names, signs, symbols, designs, colors, or some combination of these and other dimensions that identify and distinguish or differentiate the marketer of a product/service from the other organizations marketing the same product inside the same product category -Logotypes -Positioning -Perceptions -Brands -Stimulus

Brands

What's the most accurate statement? -Brands are exactly what marketers say they are. -Brands are never exactly what marketers say they are. -Brands are what prospective or actual customers say they are. -Successful branding is key, but not the most important key, to successful differentiation.

Brands are what prospective or actual customers say they are.

Strategic goals should feature all but one of the following characteristics. Please identify that characteristic. -Measurable -Broad -Time Sensitive -Realistic

Broad

The conscious act of _____________ involves exposing oneself to more intersections or intersectional thinking. -Capturing -Challenging -Broadening -Surrounding -Blending

Broadening

The use of _______________ increases add-on purchases by customers. -Pricing anchors -Reframed prices -Bundled prices -Price-signaling -Spiffs

Bundled prices

The acronym B2B stands for: -Business to buyer market -Buyer to buyer market -Business to business market -Banking to business market -None of the above.

Business to business market

Organizations that seek to lower their costs through the supply chain design they choose should choose a _______ decision. -Make -Loan -Buy -Sort -None of the above

Buy

Caveat emptor Means: -Seller beware. -Buy reasonably. -Profit maximization. -Buyer beware. -None of the above

Buyer beware.

In which scenarios should consumers be acutely aware of price mistake #3; i.e., "not believing the hype?" -Ordering an expensive Starbucks drink daily. -Buying a new car. -Buying home improvement projects. -Buying groceries -Buying name brand products that are low in quality.

Buying a new car.

Convenience goods are: -Rarely purchased. -Purchased only after great thought and effort (i.e., high involvement; extensive problem-solving). -Widely available in the marketplace. -Purchased without much consumer effort. -C and d are each correct.

C and d are each correct.

Which answer best epitomizes (represents) an environmental threat? -NFL rule changes -Red light camera changes -Government passing a law -COVID-19 -The Flu

COVID-19

____________ are known risks taken to pursue material gains (such as increased revenues or market share) inside conditions where the entire range of possible outcomes is known and reasonably accurate assessments of the probability that each outcome will happen can be determined. -Foreseen risks -Forecasted risks -Unknown risks -Calculated risks

Calculated risks

__________________ is such a powerful and effective economic force that most marketers and indeed the entire country (U.S.) can accommodate a little ___________________. -Socialism; capitalism -Globalization; capitalism -Capitalism; globalization -Capitalism; socialism -Religious believe; misbehavior

Capitalism; socialism

An Apple branded product would be considered a ______ within Apple's product portfolio if it enjoyed high shares in a low growth market and required little investment to sustain. -Dog -Star -Cash Cow -Question Mark

Cash Cow

What positioning strategy is being used when Lilly Pulitzer gained a contract for Target to sell her clothing line? -Channels -Services -Image -Celebrities -USPs

Channels

According to the book, marketers should never describe the prices of their brands as: -Lower-priced. -Value-priced. -Discounted. -Cheap. -All of the above.

Cheap.

The (A) ____________ is defined as the difference between what consumers would pay for a product and what marketers actually charge, price-wise, for that product. -Net Profit -Consumer Surplus -Capital Gain -Profit Margin -Consumer Margin

Consumer Surplus

Which type of goods is not typically associated with B2B marketing? -Production goods -Support goods -Governmental goods -Consumer goods -Business Goods

Consumer goods

____________ is (are) the collective customs, arts, social institutions, norms, values, attitudes and beliefs, and acknowledged achievements that characterize particular social groups, regions or nations. -Belief systems -Community -Organization -Culture -Supply chains

Culture

Promotional activities can create many desirable communication outcomes. Three of these outcomes are: -Customer Preferences, Solutions, and Needs. -Customer Preferences, Knowledge, and Problems. -Customer Wants, Needs, and Awareness. -Customer Awareness, Knowledge, and Preference. -Customer Awareness, Needs, and Solutions.

Customer Awareness, Knowledge, and Preference.

Which promotional activity would generally not be executed by the public relations element of the promotional mix? -News releases -Speeches -Promotional events -Website management -Customer acquisition

Customer acquisition

When one organization knows more about its customers than competing organizations know about their customers the betterinformed organization enjoys opportunities to leverage ---------------- and to develop superior differentiation. -Supply chain partnerships -Economies of scale -Customer intimacy -Low cost leadership -Technological leadership

Customer intimacy

Which answer best describes the most important difference that separates continuous innovations from discontinuous innovations. -Product type -Product cost -Product price -Rate of product adoption -Customer learning is required

Customer learning is required

The satisfaction of ________________ typically is emphasized during B2B marketing efforts. By contrast, the satisfaction of _________________ typically is emphasized during B2C marketing efforts. -Customer wants, organizational wants -Customer needs, organizational needs -Organization needs, organizational wants -Customer needs, customer wants -None of the above

Customer needs, customer wants

Which phrase describes an element that exists inside all marketing organization's micro-environments? -Customer relationships -Economic factors -Demographic factors -Cultural environments -Societal dimensions

Customer relationships

Each level of a product should contribute additional ______. -Promotion -Differentiation -Customer value. -Positioning. -Pricing (levels)

Customer value.

Positioning entails the way a branded product is defined by _______________________ on important attributes. -Firms -Competitors -Customers -Marketers -Truly strategic marketers

Customers

According to this Module, what is the most precious resource for most marketers? -Customers' and employee's time -Customers' brand perceptions (favorite ones that is) -Customers' money; after all, the need always exist to dance close to the revenue line. -Customers' attention -The 3-Ts are almost most precious

Customers' attention

Some consumer segments are more attractive than other segments. Which segment is considered as the most desirable family life cycle-based segment for marketers of discretionary goods? (Discretionary goods include products or services, such as expensive vacations or bottles of wine, that people are not required to buy [like health care, or food] but instead voluntarily choose to buy.) -KINKs -MINTs -Yuppies -Millennials -DINKs

DINKs

Which well-branded organization is currently seeking to differentiate its brand by promoting the experiences that its product provides and has experienced itself? -Apple -De Beers -Levi's -Prada

De Beers

In the American marketplace brand loyalty is _________. This is primarily because consumers are ________ informed and levels of competition has _________. -Increasing; Better; Increased -Increasing; Less Well; Increased -Decreasing; Better; Decreased -Decreasing; Less Well; Decreased -Decreasing; Better; Increased

Decreasing; Better; Increased

Among the following four types of products which is completely unethical? -Desirable products -Salutary products -Deficit products -Pleasing products

Deficit products

How consumers feel, their sentiments, about their present and future welfare exercises huge macroeconomic effects. Why? The best answer is because: -Consumer expenditures -drive governmental - revenues (taxes). -Demand for business goods is derived from demand for consumer goods -Consumer sentiments (feelings) change frequently -Current consumer sentiments (feelings) shape future consumer perceptions about marketers and their brands -All of the above

Demand for business goods is derived from demand for consumer goods

The desire and willingness of customers to purchase certain amounts of brand goods or services at particular price levels is best described as: -Supply. -Consumption. -Demand. -Elasticity. -Speculation.

Demand.

It is especially difficult for B2C marketers to compete effectively when they ignore __________trends. -Employment -Educational -Nutritional -Psychological -Demographic

Demographic

___________________ trends often represent the leading edges of sociocultural evolution. -Psychographics -Geographic -Demographic -Behavioral -Technological

Demographic

________________________ segmenting criteria uses family-related measures to segment consumers. -Demographic -Psychographic -Geographic -Behavioral -Attitudinal

Demographic

Which answer provides the best example of an uncontrollable marketing stimuli? -Demographic characteristic -Physical surroundings -Customers' buying processes -Consumers' decisionmaking processes -Marketing strategies and tactics

Demographic characteristic

Which word or phrase describes an entity that should be included inside macro-environments? -Demographics -Competitors -Supply Chains -Customer Relationships

Demographics

What strategic phrase most suggests that if marketers get and stay ahead of demographic trends it will be difficult for them to lose? -First in mind -The law of leadership -The "environmental scanning" process -Demographics are destiny -Be first to remain first.

Demographics are destiny

Ethical rule sets such as the Ten Commandants or the Hammurabi Code illustrate which ethical philosophy? -Utilitarian -Consequentialism -Deontological -Enlightened Self-Interests -Doing well by doing good

Deontological

The __________________ philosophy of ethics suggests ethical rules should be established and that moral guidelines should then be followed. -Relativistic -Deontological -Utilitarian -Enlightened self-interest

Deontological

A critical design decision that managers must always make inside supply chains is whether to: -Design short or long supply chains. -Hire more supply chain professionals. -Target international markets. -Partner with competitors and collaborators. -No preceding answer is correct.

Design short or long supply chains.

Great product style typically stands on the shoulders of effective product _________________ -Promotions. -Planning. -Strategies. -Marketing. -Design.

Design.

What is the one best asset that most marketers should seek to own and control? -Consumers' share of wallet -Consumers' perceptions -Desirable positions inside consumers' minds -High market shares -Greater brand awareness and desirable brand equity

Desirable positions inside consumers' minds

When the dimensions (attributes) present in new products differ from the dimensions (attributes) present in existing products, and those differences are important to targeted customer segments those dimensions can be described as (choose the best answer): -Differentiated -Diverse -Conflicting -Determinant -Divergent

Determinant

Which product category does the best job of illustrating the powerful ability of marketing to create meaning and value for an impractical product in the minds of consumers? -Automobiles -Purses -Diamonds -Beer -Cell phones

Diamonds

Determinant differences are (best answer please): -Influential to customers -Different or important to customers -Different and important to customers -The result of new product development, and it alone -None of these answers work.

Different and important to customers

What characteristic of attractive market segments refers to a segment's ability to respond in identifiably different ways than other segments? -Measurable -Accessible -Substantial -Differentiable -Actionable

Differentiable

Supporting services are increasingly being used to ___________________ tangible products. -Augment -Differentiate -Promote -Endorse

Differentiate

Which targeting approach usually costs the most to execute? -Differentiated targeting -Micro-targeting -Broad targeting -Concentrated targeting -Mass marketing

Differentiated targeting

The supply chains for tangible products almost always begin in the _________________. -Asian marketplace (and economy) -Dirt -Minds of creators -Sky -Water

Dirt

The development of fully electric cars illustrates a(n) _____ . -Continuous innovation -Dynamically continuous innovation -Discontinuous innovation -Invention

Discontinuous innovation

What is the name of the type of innovation in which new and useful products are created that change nearly everything, including how new problems are solved and buyer behavior? -Continuous innovations -Radical Innovations -Discontinuous innovations -Dynamically continuous innovations -Disrupted innovations

Discontinuous innovations

Which answer is not part of the traditional "Promotion Mix?" -Advertising -Public Relations -Discounts -Personal Selling -Sales Promotions

Discounts

What characteristic of an advertisement message means that the appeal of one firm's advertising message is different from the advertisement appeals of that firm's competitors? -Believability -Puffery -Memorable -Distinctiveness -Trustworthiness

Distinctiveness

Recently Audi released a new line of electric vehicles and made the promise of developing electric vehicles for all the categories in which Audi competes. Audi expects to target new consumer segments that characterized by extremely high level of environmental awareness. Which type of growth strategy best explains Audi's innovations? -Market penetration -Market development -Product development -Diversification -None of the above

Diversification

A technology firm began producing a gaming device and integrated this new product into its product portfolio. The firm offered this product to a completely new market that it (this firm) has never served before. This example illustrates a: -Market penetration strategy. -Product development strategy. -Market development strategy. -Diversification strategy. -All of the above

Diversification strategy.

Marketers can do well for themselves by remembering to _______________ for others. -Be persistent -Be innovative -Be creative -Do good

Do good

When consumers "spend excessive amounts of time on devices poring over grim news" the activity is called: -Device overload. -A huge waste of time. -Doom-scrolling. -Energy-drainage occurred. -Stimulus overload happens.

Doom-scrolling.

Strategic marketers should engage in product customization in response to? -Strategic environmental trends -Marketing trends -Social trends -Individualization trends -Dynamic environmental trends

Dynamic environmental trends

The tactics that Uber (the transportation service) uses to price its passenger transportation services offers a good example of: -Prestige pricing -Cost-based pricing -Targeted pricing -Dynamic pricing -Value-based pricing

Dynamic pricing

The process of observing, researching, and interpreting various, almost inevitably, uncontrollable environment trends that might impact an organization, is known as: -Environmental threat -Environmental trend -Environmental scanning -Environmental analysis -Environmental law.

Environmental scanning

The purpose of _________ is to identify trends that pose opportunities or threats that increase or decrease marketers' survival and future success prospects. -Environmental trends -Environmental opportunities -Environmental scanning -Market analysis -Market targeting

Environmental scanning

_______________________________ helps firms identify trends that can create opportunities or threats for a strategic organization. -Demographic trends -Environmental scanning -Environmental trends -Environmental previewing

Environmental scanning

What sort of consumer problem-solving behavior occurs in situations where the best solution is not already known but it is critical that the absolute best brand solution be found? -Routine problem-solving -Limited problem-solving -Extensive problem-solving -Low involvement decision-making -None of the above

Extensive problem-solving

The prospect of _____________ usually walks slightly ahead of the reality of success as marketers traverse any creative path. -Marketing -Positioning -Ethics -Failure -Innovation

Failure

_____________ likely walks slightly ahead of success down any creative path. -Marketing -Positioning -Ethics -Failure -Innovation

Failure

"Bait and switch" marketing practices are ethical. This statement is: -True -False

False

Automation bias often occurs inside marketing research efforts and is usually viewed as a desirable outcome. -True -False

False

Bending-inside NPD settings entails taking whole things apart and then re-assembling something new and useful from the fragments, as in re-engineering. -True -False

False

Descriptive knowledge informs marketers about what they should do. Descriptive knowledge identifies and suggests the logical next strategic steps that marketers should pursue. These two statements are each: -True -False

False

Differentiation is critical to any brand and/or organization. Yet it's impossible to create a differentiation strategy for commodities such as rice, sugar or salt. Is the second statement true or false?

False

For most consumer goods marketers (B2C marketers) the facts behind the story are more important than the appeal of the story itself. -True -False

False

Icebergs were metaphorically used to describe and summarize the sort of relationship that exists between marketers and their environments. Is the preceding statement: True or False

False

Information represents the truest and most impactful operant resource and source of potential advantage for marketers. Marketing information operates as a core foundation for competitive advantage (at individual or organization levels) and for economic growth at micro [individual organizations] or macro [entire economy/market] levels. -True -False

False

Inventions are best defined as new things that are also useful things, because the new things solve new or old problems in new ways. -True -False

False

Macro-environments can also be described an "internal-environments." True or False

False

Macro-environments consist of organizations' (a) customer relationships; (b) relationships with suppliers and other marketing intermediaries (together, summarized as the supply chain); (c) competitors; (d) relationships with various publics (i.e., stockholders, public interest groups—who may or may not support what the firm is doing or plans to do), and so forth. True or False

False

Many successful organizations exist whose success is not primarily based upon marketing. True or false

False

Market-penetration pricing is best understood as setting premium prices; as going high. -True -False

False

Marketers are relatively capable of creating customer wants and needs. -True -False

False

Most marketing organizations that conduct marketing research need more information. -True -False

False

NPD always entail the creation of new products. -True -False

False

New product developers should avoid the prospect (risk) of failure. -True -False

False

Primary information uses data that has already been collected for other purposes. -True -False

False

The concept test is conducted to determine whether the proposed product that would emerge if the idea (the concept) can be successfully commercialized through a firm's current or prospective marketing mix. -True -False

False

The product life cycle (PLC) concept applies only to brands, as opposed to the entire product category in which brands complete against other similar brands. -True -False

False

The same opinion leader generally enjoys the opportunity to influence consumers' thoughts and decisions across a wide range of product categories. -True -False

False

The use of sales promotions has rapidly decreased during the past several years in the United States. -True -False

False

When any one of the 4C's of Persuasion is missing (missing as in absent) a failure to communicate is basically guaranteed to arise. -True -False

False

When making decisions about what they will do in the future marketing decision-makers should almost always consider sunk costs. -True -False

False

Whenever possible, most firms should attempt to compete primarily on the basis of price. This statement is: -True -False

False

According to Nick Saban, a mega-successful college football coach, the key to success is: -Looking back and learning from past mistakes. -Anticipating and preparing for changes in the future -Focusing on the process -Always looking at the outcomes.

Focusing on the process

New products that are most likely to succeed are those that are: -Fresh and familiar -Extremely similar to the "old" products -most heavily promoted -Cheaper than the "old" products -Complicating and intriguing

Fresh and familiar

Business strategies exist at two levels. Marketing planning is an example of which level of business strategy? -Corporate Strategy -Functional Strategy -Performance Strategy -Applied Strategy

Functional Strategy

Which trait is not a characteristic of a service? -Variability -Intangibility -Inseparability -Perishability -Functionality

Functionality

Sales promotions usually should not be the sole basis for a promotional campaign because: -Sales promotions are too costly. -Sales promotions alone have very limited reach. -Sales promotions are regulated by law. -Gains from sales promotion are often temporary and sales drop off when the deal ends. -All of the above.

Gains from sales promotion are often temporary and sales drop off when the deal ends.

One of the following answers is wrong. Which one: The best branding stories should be: -Benefit-driven. -Gently exaggerated. -Told clearly. -Segment-appropriate. -Promise-based.

Gently exaggerated.

Which of the following would likely prove an especially important segmentation criteria for an organization that markets winter clothing such as heavy coats? -Sociographic -Demographics -Geography -Psychographics -None of the above

Geography

Which two characteristics make glaciers a useful analogy when describing the effects of marketing practice? -Glaciers and marketing practices are each resilient and always moving. -Glaciers and marketing practices each move and each move quite slowly. -Glaciers and marketing practices each change and are each changed by their surrounding environment. -Glaciers and marketing practice each arrive and evolve into many different forms. -None of the preceding responses is correct.

Glaciers and marketing practices each change and are each changed by their surrounding environment.

Which description most accurately describes a key difference between marketing goals and marketing objectives? -Goals are quantitative; objectives are qualitative -Goals are qualitative; objectives are quantitative -Goals are short-term; objectives are long-term -There is no difference between goals and objectives

Goals are qualitative; objectives are quantitative

Which statement best illustrates how brand symbols should function? -An iPhone representing Apple. -A grill representing (the former boxer) George Foreman. -Golden Arches representing McDonalds. -Running shoes representing Adidas. -The phrase "Eat Fresh" representing Subway.

Golden Arches representing McDonalds.

The surprisingly important communication human activity known as _________ entails two or more people telling things about a third person or entity like a brand that the third party would prefer not to be known or said. -Contagion -Viral -Diffusion -Gossip -Conversation

Gossip

______________ strengthens any product's brand, contributes to the perceived and practical usefulness of the product, makes the product more appealing, and can drive innovation. -Excellent style -Great design -High fashion -Exceptional quality -Strong service

Great design

____________ arises when marketers report or infer that their branded products or organizations themselves are green - as in beneficial to the environment - when they are not. -Green misrepresentation -Green manufacturing -Green immorality -Pink manufacturing -Greenwashing

Greenwashing

The phrase ___________ describes a situation where people are temporarily satisfied after they have received whatever new thing they wanted and obtained but then quickly find themselves lustfully looking forward toward something else that is new. -Need-driven treadmill -Utilitarian treadmill -Functional treadmill -Hedonic treadmill -None of these answers are correct

Hedonic treadmill

Markets are __________ in nature. -Homogeneous -Heterogeneous -Small -Large

Heterogeneous

Marketing organizations' decisions to offer ______________________ often attracts competitive entry; whereas decisions to offer ________________ generally discourage market entry by new competitors. -Lower prices; higher prices -Aggressive prices; competitive prices -Competitive prices; aggressive prices -Skimming the cream prices; purely competitive prices -Higher prices; lower prices

Higher prices; lower prices

The proliferation of _________________ is an example of an environmental trend that has changed how many consumers acquire their food. -Self-checkout kiosks -Mega-sized warehouse stores -Home delivery -Locally sourced food -Big box stores

Home delivery

The act of segmentation entails dividing markets into relatively ______________________ groups of customers. -Diverse -Heterogenous -Homogenous -Varied -Assorted

Homogenous

The number of rolls of toilet paper consumed in the Metroplex was discussed in order to illustrate: -The importance of trees. -How supply chains fulfill consumers' rights. -The power of Kimberly-Clark, an Irving, Texas, headquartered firm. -The nature of pricing power. -The nature of branding power (brand equity).

How supply chains fulfill consumers' rights.

Needs are states of deprivation that exist inside human minds or bodies. Given this definition, which statement is most true? -Needs are always biological in nature such as hunger, socialization and thirst. -Humans always create their own needs without the intervention of marketing strategies. -Marketers can induce needs in people. -Needs are not influenced by culture. -All of the above are true.

Humans always create their own needs without the intervention of marketing strategies.

Which car company was first to successfully position its brand to nervous (worried) consumers by allowing buyers to return their car and receive full refunds if they lost their job after they purchased the auto? -Mazda -Hyundai -General Motors -Toyota -Honda

Hyundai

Which organization said "More than a symbol. It's the way we do business." About their positioning symbol? -Nike -McDonald's -Hyundai -Jeep

Hyundai

The most fundamental source from which successful new products can be developed is: -Customers and their unmet needs. -Customers and their unrecognized needs. Ideas. -(Internal) new product development teams -None of these answers represents the "most fundamental" source

Ideas.

Why is it counterproductive to follow a "build it and they will come" strategy? -Other competitors may be following the same strategy -If it is built and no one comes then the company will go bankrupt -It doesn't stand out in the industry -The marketing strategy is more important than the product itself -Marketers must have a target market

If it is built and no one comes then the company will go bankrupt

When addressing an organization's weaknesses a good strategic planner should never: -Ignore the fact that weaknesses exist -Strengthen weaknesses -Mitigate the effects of the weaknesses -Identify the weaknesses

Ignore the fact that weaknesses exist

For a dimension of product differentiation to prove "determinant" in the minds of targeted customers, the difference must be: -Important to marketers as they seek to position their brand or product. -Important to consumers as they make decisions about which brand to buy. -Really substantial; in fact, "dominant." -Answers a, b, & c are each true (i.e., all of the above). -None of the preceding answers is correct.

Important to consumers as they make decisions about which brand to buy.

_______________ are best defined as for-profit and non-for-profit organizations, including individuals such as agents that play fundamental roles in facilitating, promoting, or encouraging B2B relationships between marketing organizations or B2C relationships between marketing organizations and end-use consumers. -Retailers -Intermediary organizations -Warehouses -Exchange organizations -None of the above

Intermediary organizations

An Amazon warehouse, indeed any type of warehouse, illustrates a(n): -Intermediary. -Wholesaler. -Marketing channel. -Retailer. -Supply chain.

Intermediary.

______________ is the new term used to those people who not only possess but are also known for their power to affect consumers' buying habits by uploading some form of original (often sponsored) content to social media platforms such as Instagram, YouTube, Snapchat, or even LinkedIn. -Branding Managers -Internet Influencers -Social Media Managers -Celebrity Influencers -Marketing Coordinators

Internet Influencers

What communication medium features an essentially endless number of communication channels through which marketers can present promotional messages? -Traditional -Television and radio media -Google -Internet-based media -WOM Channels

Internet-based media

During the __________ stage of the product life cycle, a primary goal is to develop awareness among targeted audience that distribution in the market may be limited. Consequently, collaborative and cooperative supply chain relationships also should be developed and refined. Marketers might logically choose to pursue skim-the-cream pricing strategies. -Introduction -Growth -Maturity -Decline -Development

Introduction

Which product life cycle stage features the lowest level of competition in the market? -Introduction stage -Growth stage -Maturity stage -Decline stage -None of the above

Introduction stage

The daunting prospect of sinking-the-boat: -Involves risks of ruining organizations by making huge strategic bets, and losing. -Involves allowing great strategic opportunities to walk right by including opportunities to act boldly when others cower timidly. -Involves missing out on environmental threats that destroy the firm. -None of the previous answers are correct.

Involves risks of ruining organizations by making huge strategic bets, and losing.

Society, defined, -Is the collective customs, arts, social institutions, or norms and values that characterize a known group of people. -Is the collective wealth, production and consumption practices that characterize a known group of people. -Is any known group of people living together in a more or less ordered, or hierarchical fashion. -Primarily relates to changes in the attitudes, believes and behaviors of known groups of people.

Is any known group of people living together in a more or less ordered, or hierarchical fashion.

Who said "No man is an island. Every man is a piece of a continent, a part of the main," a statement that illuminates the concept that humans need interconnectivity? -Mitt Romney -John Donne -Samuel Coolidge -Charles Dickens -Charles Darwin

John Donne

Who said "Failing to plan is planning to fail"? -Barack Obama -Lebron James -Elon Musk -John Wooden -Ben Franklin

John Wooden

Which company will most likely be forced to engage in de-marketing? -Nike -Golden Corral -Juul -Furniture Row -Ford Motor Co.

Juul

Successful marketers must become and remain customer-focused. What is the best outcome that marketers can generate in order to become more customer-focused? -Making promises -Creating value -Keeping promises -Delivering value

Keeping promises

Which brand best illustrates what happens when the Law of Focus is executed successfully? -Colgate -Kleenex -HP -Burger King -Kroger

Kleenex

When using growth strategies marketers change one or more elements in their marketing mix, while keeping the product inside the marketing mix the same. -Market penetration -Low cost -Low price -First mover -Premium pricing

Market penetration

Which is the best tool to use when marketers are seeking to manage uncontrollable consumer behavior stimuli? -Product life cycle management -Brand management -Brand portfolio management -Market segmentation management -Resource management

Market segmentation management

Which is not a condition for effective segments? -Market segments should be measurable -Market segments should be actionable -Market segments should be accessible -Market segments should feature a high average high income -Market segments should be substantial.

Market segments should feature a high average high income

Which of the following is not an environmental trend dimension? -Demographic trends -Cultural trends -Technological trends -Economic trends -Market trends.

Market trends.

How is the BCG matrix formed? This four cell matrix is formed by creating an intersection between the: -Market's penetration rate and the firm's brand's revenue share. -Market's growth rate and the firm's brand's market share -Market's growth rate and the firm's brand's revenue growth rate -Market's innovation rate (that "baud" thing) and the firm's brand's market share -None of the above

Market's growth rate and the firm's brand's market share

When consumers use Google's marketing services, Google actually converts those users into: -Marketable Products. -Customers. -Online Shoppers. -Marketable Solutions. -Online Consumers.

Marketable Products.

Which professional group logically could be described as "problem-makers" - due to the fact that "creating problems" is sometimes part of their job. -CEO's -Copywriters -HR Managers -Administrators -Marketers

Marketers

Marketers are usually subjected to greater ethical criticism than accountants, information technology, or human resource managers because: -Marketers are concerned with trapping consumers in a purchase decision. -Marketers tend to take shortcuts to increase efficiency. -Marketers are the most visible to individuals outside the firm. -Marketers are trained to be deceptive in order to sell more product. -The type of professional attracted toward marketing in inherently less moral than the type of professionals attracted to accounting, information technology or human resource management.

Marketers are the most visible to individuals outside the firm.

Which statement is true? -Marketers can create wants but not needs. -Marketers can create needs but not wants. -Marketers cannot create either needs or wants. -Marketers can create both needs and wants.

Marketers can create wants but not needs.

Which of the following descriptions do not apply to perceptions? Perceptions are people's "imagined realities." -Marketers find it difficult to change customer perceptions. -For most people their perceptions—right or wrong—are their realities. -Perceptions capture the process by which people select, organize, and then interpret (attempt to make sense of) stimuli, including new and old information. -Consumers create perceptions to create meaningful and useful pictures of the world around them.

Marketers find it difficult to change customer perceptions.

Marketers can exploit (i.e., strategically use) sustainable competitive advantages to effectively position their brands inside market segments they target. Such SCAs, in turn, might be based on____: -Marketers' possession of branding advantages. -Marketers' possession of resource advantages. -Marketers' possession of core competencies. -All of the above. -A & B only.

NOT Marketers' possession of core competencies.

The practice of using animals who subsequently have to be destroyed after new products ideas are subjected to "product testing" is best described as a(n): -Ethical Dilemma. -New Product Development. -Product Development Strategy. -Social Responsibility. -None of the above.

NOT New Product Development.

Consumer behavior refers to ________: -Potential customers inside supply chains. -Loyal customers inside supply chains. -Final customers inside supply chains. -New customers inside supply chains. -None of the above is correct

NOT None of the above is correct

What usually happens when customers attempt to hold two opposing thoughts inside their minds at the same time? -Problem recognition -Cognitive dissonance -Paradox -Conflict Resolution -Group Membership

NOT Paradox

Many marketers' decisions to create and market more elaborate diapers is a direct response to: -Parents spending less on their children. -Parents having fewer children. -Parents having more children. -Parents wanting the best for their children. -Parents worrying about what others might think.

NOT Parents wanting the best for their children.

To prepare for success in the future, study the _______. To understand the present, examine the_______. -Present, Past -Past, Past -Present, Present -Trends, Data -Literature, History

NOT Past, Past

When the first person with COVID-19 passed away in the United States, a couple of people decided to buy all the hand sanitizers they could find in Tennessee. A few week later, they started selling these products on Amazon and made 300% to 400% profit. This illustrates: -Price-fixing -Price-gouging -Price-skimming -Price-discrimination -Price-war

NOT Price-discrimination

Each basic level of any product provides marketers another opportunity to successfully: -Promote products -Differentiate products -Position products -Brand products -All of the above

NOT Promote products

In an effort to revive fragmenting audiences (or target segments) brand managers can engage in: -Repositioning -Rebranding -New product development -Revised promotional strategies -All of the above are true

NOT Repositioning

Marketers will more likely earn only "blah strategic outcomes" when their strategic planning processes feature excessive: -Moderation -Risk -Rewards (upsides) -Unequal collaboration -All of the above

NOT Risk

Consumers' age can exercise material impacts on the product and brand choices that consumers make. There are three pivotal benchmark birthdays that many marketers should target. The reason why is because these particular "birthday-ages" exist as points in time when consumers are more willing to make big changes in their lives? -The life-decades beginning at birthday ages 30, 40, 50 -The life-decades beginning at birthday ages 40, 50, 60 -The life-decades beginning at birthday ages 25, 50, 65 -The life-decades beginning at birthday ages 30, 50, 70 -The life-decades beginning at birthday ages 20, 30, 40

NOT The life-decades beginning at birthday ages 25, 50, 65

Ethical guidelines and philosophies exist to help people to make informed decisions as they seek to determine which choices are _________ in certain situations. -Logical or illogical -Moral or Immoral -Helpful or Not Helpful -True or False -More profitable or less profitable

NOT True or False

Brands can be positioned on multiple brand Features-Attributes-Benefits (FAB). Which answer (see below) does NOT feature a product-, promotional, and/or pricing-difference on which firms would differentiate or position their brand? -Technologically superior -Affordable -Truly "cool" - in the most appealing sense of the word cool -Cost Effectiveness -Important

NOT Truly "cool" - in the most appealing sense of the word cool

While successful marketers seek to create products that satisfy consumer wants and needs, many successful marketers also look first to create _______________________before they began positioning the product. -satisfaction. -dissatisfaction. -positional goods. -specialty goods. -convenience goods.

NOT convenience goods.

The fact that the F-word now can be used as an adjective inside many contemporary media helps marketers' only to the extent that marketing messengers know the difference between _______________. -right and wrong. -pronouns and synonyms. -nouns and verbs. -adjectives and verbs -pronouns and nouns

NOT right and wrong.

Ethical guidelines are often grounded in ________________ and/or __________________bases. -Business; marketing -Moral; social -Political; religious -Philosophical; religious -Economic; accounting

Philosophical; religious

Which conflict management and resolution rule should remind managers to not fight about everything that bothers them as they strive to manage supply chain conflict? -Don't feel guilty -Pick battles carefully -Don't overthink -Improve you vision -Accept cultural differences

Pick battles carefully

____________ entails not taking on everything that bothers you, because if you do constant turmoil will arise. -Picking battles carefully -Not feeling guilty -Not overthinking -Understanding and accepting that once is over, it's really over. -Accepting that cultural differences will exist, and that's okay

Picking battles carefully

What element is not added to list of marketing mix ingredients when marketing services are developed and delivered? -Process -Place -People -Physical surroundings -Each of the above should be added.

Place

The ________________ suggests that in the absence of other information or knowledge, medical patients will usually believe (or assume) that higher-priced medicine is more effective than lower-priced medicine. -Irrational-pricing-effect -Emotional-pricing-principle -Biased-pricing-effect -Placebo-pricing-effect -Strategic-pricing-principle.

Placebo-pricing-effect

The _____________________ suggests that in the absence of other information people usually believe that higher-priced medicine will work better than lower-priced medicine. -Availability bias effect -Placebo-pricing-effect -Gambler's fallacy effect -Optimism bias effect -Confirmatory bias effect

Placebo-pricing-effect

The strategic marketing tactic wherein marketers make their own products appear outdated by introducing new and improved products before their competitors do something similar is called: -Planned Destruction. -Creative Destruction. -Planned Obsolescence. -Creative Obsolescence. -Innovation.

Planned Obsolescence.

Which statement about strategic planning is not true? -Planners should understand that complicated explanations processes or solutions are ceteris paribus always the best -Planners should accept, account for, and adjust to the fact that some factors are uncontrollable -Planning should always increase revenue or reduce costs, or both -Planners should distinguish between challenges associated with managing uncertainty as opposed to challenges associated with managing risk -Planners should accept that often no one best solution exists.

Planners should understand that complicated explanations processes or solutions are ceteris paribus always the best

Why is planning so important for marketing professionals? -Planning allows marketing professionals to prepare for both opportunities and threats. -Planning ensures that truly professional marketers rarely if ever fail. -Planning allows marketing professionals to predict the future more accurately. -Planning allows marketing professionals to understand what went right or wrong in the past.

Planning allows marketing professionals to prepare for both opportunities and threats.

What three manageable factors must be developed and executed successfully in order to do NPD successfully? -Idea generation, idea implementation, and idea commercialization -Idea sources, lists of ideas, and creative ideas -Planning, execution, and creativity -All of the above -None of the above

Planning, execution, and creativity

Which cell of products provides immediate satisfaction offers few to no benefits to consumers (sometimes even generating seriously negative consequences)? -Desirable products -Salutary products -Deficit products -Pleasing products

Pleasing products

The term ________________ describes a person, often a professional, who and is driven by broad interests across many different disciplinary fields. -Obscures -Autodidacts -Polymaths -Creatives -Obscurists

Polymaths

With most products, higher prices reduce demand. However, __________ products, services or experiences invert this economic law. -Specialty -Shopping -Expensive -Convenience -Positional

Positional

The purchase of luxury branded purses or expensive art illustrates which consumer goods category? -Convenience goods -Shopping goods -Specialty goods -Unsought goods -Positional goods

Positional goods

----------, also known as undercutting or dumping, entails pricing products or services at extremely low prices in order to drive weaker competitors out of the market or create cost-based barriers to entry that block new competitive entry. -Penetration pricing -Price posting -Predatory pricing -Premium pricing -None of the above

Predatory pricing

Actionable insights about which strategic actions marketers should pursue to solve customer problems, secure gains from environmental opportunities, or avoid disastrous losses from environmental threats are best described as ____________? -Descriptive knowledge -Diagnostic knowledge -Prescriptive knowledge -Marketing information -None of the above

Prescriptive knowledge

Strategic inferences are based on: -Operant knowledge -Propositional knowledge -Prescriptive knowledge -Primary knowledge

Prescriptive knowledge

What type of knowledge best informs marketers about next logical strategic steps that firms should pursue? -Environmental knowledge -Tactical knowledge -Prescriptive knowledge -Descriptive knowledge

Prescriptive knowledge

In marketing, there are five primary types of utility. Which word does not describe one of these five types of utility: -Form -Place -Prestige -Convenience -Time

Prestige

_____________ entails marketers setting higher prices based on the premise that quality-, social status-, or positional-conscious buyers will be attracted to the product, due to its price and the potential buyers' ability to afford it, and thus become more likely to purchase the product. -Penetration pricing -Skimming the cream pricing -Prestige pricing -Goldilocks pricing -Everyday low pricing

Prestige pricing

Which marketing mix element is usually easiest to change? -Product -Price -Place -Promotion -No core difference exists in the difficulty of changing any of the four marketing mix elements

Price

_________ represent(s) the sum of ALL values customers must give up in order to get the benefits and values that result when customers own and/or use/consume products or services. -Profit margin -Price -An exchange -Costs -None of the above

Price

To build profitable services, marketers should usually avoid: -Differentiation -Reliability -Innovation -Price competition -None of the above

Price competition

The segments targeted by marketers employing penetration pricing strategies are inevitably: -Price-conscious and price-sensitive. -Characterized by lower incomes and lower social class status. -Price-conscious but not price sensitive. -Price sensitive but not price conscious. -None of the above.

Price-conscious and price-sensitive.

The unethical act that is called _____________________________ occurs wherever marketers extort, exploit or take huge advantage of buyers just because they can. -Price-gouging -Price discrimination -Price-fixing -Price-skimming

Price-gouging

________________ represent an implicit negotiated buyer-seller agreement on the mutual value of two objects about to be exchanged. -Allowances -Benefits -Prices -Market shares -Predesignated values

Prices

The unethical and illegal marketing tactic known as ___________ occurs when two or more firms mutually agree to set prices at some predetermined level. -Price skimming -Value pricing -Cost-plus pricing -Goldilocks' pricing -Pricing fixing

Pricing fixing

Marketers enjoy the brand-based advantage known as __________ when they can raise prices or sustain already higher prices without losing significant levels of market share. -Brand equity -First mover advantage -Pricing power -Differentiation -Sustainable competitive advantage

Pricing power

Brand equity can also accurately be described as: -Brand pricing. -Pricing power. -Brand insight. -Each proceeding answer is correct.

Pricing power.

Which sort of information will most likely yield insights that prove useful to marketers when they are solving problems or identifying new opportunities? -Primary information -Secondary information -Operant information -Prescriptive information -Another information type; one not mentioned above

Primary information

The accurate development of _______ allows marketing researchers and strategic planners to quantify, measure, and assess the level of uncertainty—risk—embedded in given strategic marketing decisions. -Propositional knowledge -Prescriptive knowledge -Probability assessments -Information identification -All of the above

Probability assessments

What is the first step in the consumer decision making process? -Information search -Choice -Problem recognition -Alternative evaluation

Problem recognition

Anything that can be offered to individuals, market segments, or entire markets for customers' attention, acquisition, use, or consumption that might also satisfy their (i.e., individuals', segments', or markets') wants/needs-or solve their problems qualifies as a: -Value -Solution -Marketing mix -Product -Benefit

Product

Marketing success is mostly based upon being skillful enough to manipulate customers into doing what best satisfies the marketer's best interests. Marketing success is also based upon being skillful in conceiving or creating values that best satisfy the interests (i.e., wants, needs, and problems) embedded inside targeted customer segments. Which statement best honors the marketing concept? -Statement 1 -Statement 2 -Trick question, neither statement honors the marketing concept -Trick question, both statements honor the marketing concept

Statement 2

"Baud" is a strange-looking but genuine contemporary word that measures the rate or velocity at which monetary exchanges travel across the internet. -Statement 2 is true. -Statement 2 is false.

Statement 2 is false.

Which statements describe simple tactics that salespeople can choose to use when they are seeking to listen better. 1-Consciously choose to use the "I" pronoun as little as possible. 2-Consciously choose to breathe before you speak. 3-Avoid to give any input that may disagree with others. 4-Avoid too much eye contact. -Statements 1 and 2 -Statements 1 and 3 -Statements 2 and 3 -Statements 2 and 4 -Statements 3 and 4

Statements 1 and 2

The word or phrase __________ refers to the amount of products available inside any marketplace. The word or phrase ________ refers to how many customers want those products, typically at differing price levels. -Demand; Supply. -Potential offer; Potential market -Supply; Demand -Production potential, Market potential. -None of the above.

Supply; Demand

Regardless of their dominant form, brands primarily exist as: -Phrases -Symbols -Designs -Colors -Products

Symbols

__________________ can say in an instant what _____________ cannot. -Words; symbols -Signs; words -Symbols; words -Words; signs -Great marketers; greater managers

Symbols; words

Which of the 3T's is the least finite resource? -Time -Talent -Treasure

Talent

Which of the three "T's" is the most indispensable? -Time -Treasure -Talent -All three resource types are all equally important

Talent

The four basic levels of target marketing are: -Target broadly, Target narrowly, Target extremely narrowly, Target competitively -Target differently, Target individually, Target narrowly, Target Broadly -Target Narrowly, Target extremely narrowly, Differentiated Targeting, Target broadly -Differentiated targeting, Target uniquely, Target narrowly, Target values -Target broadly, Target extremely narrowly, Target competitively, Target segmentally

Target Narrowly, Target extremely narrowly, Differentiated Targeting, Target broadly

Marketing organizations should _______ the segment or segments whose _______ they are best able to ________. -Target, Problem, Solve -Identify, Product, Sell -Find, Issue, Meet -Locate, Supply, Demand -Discover, Service, Fulfill

Target, Problem, Solve

Which of the following is not described as a brand personality trait? -Ruggedness -Technological -Competency -Sophistication -Sincere

Technological

Which answer is NOT a brand level? -Affective brand meaning -Core brand values -Enhanced brand warranty -Technological brand characteristics

Technological brand characteristics

Which question wouldErnest Dichter most likely recommend be used in order to gain insights about how to improve the quality of a soap brand? -Why do you use this brand of soap? -Tell me how you feel about your bathing time -Why don't you purchase this brand of soap? -What are the characteristics of the soap you like? -Is quality or price more important to you when you purchase soap?

Tell me how you feel about your bathing time

Which answer best reflects the principle that marketers' strategic plans should either increase revenues or decrease costs, or generate both outcomes. -The "Efficiency" Rule -The "Cost-Effective" Rule -The "Gold Rules" Rule -The "Golden Rule" -The "Platinum Rule"

The "Gold Rules" Rule

Which rule most emphasizes the importance of evaluating the consequences of a strategic decision? -The 10-10-10 Rule -The Gold Rule -Occam's Razor -Murphy's Law

The 10-10-10 Rule

___________________________ consists of the surroundings in which people, animals, plants and organizations strive to thrive. -The Macro-environment -The External environment -The Culture environment -The Environment

The Environment

The brand name Tesla fits best into which category of brand names? -The Founders Category -The Plain Vanilla Category -The Inspirational Category -The Mashup Category -The Whimsical Category

The Inspirational Category

Which communication goal features, at its heart, the core message that "We're still here and here's why we're still good"? -The Informing goal -The Persuading goal -The Reminding goal -The effectively managing customer relationships goal -The stimulating viral communication effects goal

The Reminding goal

On what battleground are most debates about environmental, cultural, and demographic trends currently unfolding? -The Washington battleground -The Social Media battleground -The Blockchain battleground -Inside schools and school board meetings -On the talk radio battleground

The Social Media battleground

Which answer best captures the core theme of the "Waterline Principle?" -The Waterline Principle underscores the importance of pursuing logical solutions. -The Waterline Principle underscores the importance of technology. -The Waterline Principle underscores the magnitude of strategic bets. -The Waterline Principle underscores the importance of store location. -The Waterline Principle underscores another theme that is not listed above.

The Waterline Principle underscores the magnitude of strategic bets.

The __________________ refers to a planning issue related to making decisions that allow strategists to learn from their mistakes (if the mistake is not devastating in nature), while at the same time taking risks that are big enough to benefit their organization if "the bet" pays off. -The Missing-the-Boat principle -The Uncertainty principle -The Under-the-Bus principle -The Waterline principle -The Risk principle

The Waterline principle

The term _______________ describes price reductions given to buyers in exchange for turning-in old products as newer versions of the same product is purchased. -Price adjustments -Trade-in allowances -Promotional allowances -Discounts -Spiffs, also known as "push money"

Trade-in allowances

What grocery store chain shares a common history to Aldi and also relies on mostly selling private label products? -Trader Joe's -Winco -Kroger -Whole Foods -Sprouts

Trader Joe's

Almost all global religions brand themselves as problem-solving and value-adding products. -True -False

True

An inverse relationship exists between advertising expenditures and overall consumer satisfaction inside the US. -True -False

True

As compared to products, services are intangible, inseparable (from their point of production and producer); perishable; and variable (in terms of their quality). -True -False

True

Brand equity and brand loyalty, when present, generally allow marketers to raise prices without losing much if any market share. -True -False

True

Brands, regardless of their dominant form (colors, designs, signs, names), exist as symbols. -True -False

True

By themselves, symbols such as Nike's swoosh or McDonald's golden arches have no value. -True -False

True

CB, or Consumer Behavior, generally relates to the factors that motivate or otherwise stimulate different types of consumer decision-making (i.e., high/low involvement; extensive or routine problem-solving). -True -False

True

Change is rarely linear regardless of whether changes are unfolding under harsh warlike conditions or emerging as normal and expected, cultural, economic or scientific transitions and progress. True or False

True

Conflict is inevitable inside supply chain relationships. -True -False

True

Cost-based pricing entails establishing prices based on the costs of successfully making and marketing a product and earning an acceptable margin or profit. -True -False

True

Cost-plus pricing involves adding standard markups to whatever amounts, cost-wise, are required to make, distribute, and market (i.e., sell, promote, merchandise) products. -True -False

True

Descriptive / diagnostic information must come before prescriptive information. -True -False

True

Domestic marketers manipulate too many American consumers to purchase products or services that those individual consumers don't need and/or cannot afford. This statement is: -True -False

True

Effective positioning allows firms to earn and maintain sustainable competitive advantages. True or False

True

Environmental trends are patterns of gradual or more rapid change unfolding along an environmental dimension. True or False

True

Heterogeneous—in marketing, the word is used to describe markets that consist of dissimilar or diverse constituents. True or False

True

In any given day, more than half of the women in the US are dieting True or False

True

Information that is collected through marketing research can be reliable without being valid. -True -False

True

Longer supply chains feature many levels; shorter supply chains fewer few levels. -True -False

True

Many shades of gray are in place in most ethical marketing decisions. -True -False

True

Marketers could plan all day long and operate within the bounds of what's legal, but still fall outside the bounds of what's ethical. -True -False

True

Marketers should listen to understand, not to decide if someone or the information their communication dance partner is conveying is right or wrong. True or False

True

Marketing research related problems that are well-defined are already half-solved. -True -False

True

Marketing-Level planning entails managing the organization's "marketing mix" in ways that create differentiating-value and uniquely-desirable positions for brands as the organization targets specific market segments. True or False

True

One of the primary reasons why price adjustments, normally price decreases, are used is to incentivize or reward supply chain partners. -True -False

True

The BCG Market Share-Product Portfolio Panning matrix exists to identify the best or worst brands (inside any firm's product portfolio) in which marketers might invest their limited resources. True or False

True

The Marketing Mix is the tool that marketing firms manage with the intent of creating hopefully-differentiating communication messages for their branded products. True or False

True

The best designs are those that are conceived and constructed to be as simple as possible, easy on the eyes, as well as easy to use. -True -False

True

The fact that so many young people lay around "watching Netflix and becoming obese" represents both an environmental threat and an environmental opportunity. True or False

True

The fact that the membership of specific segments share much in common implies the segment's constituents are more likely to respond positively or negatively to particular marketing mixes, and to the distinct sets of values (benefits, solutions) that those marketing mixes create. True or False

True

The opportunity to pay through installment pricing options typically allows customers to feel more in control of their cash flow. -True -False

True

The terms luxury brands and positional goods are often synonymous. -True -False

True

The willingness to accept and/or lead change is essential as we seek to create more desirable futures in which to live, work and play. This statement is: True or false

True

To a surprising extent, customers often view price cuts as a bad thing. This statement is: -True -False

True

Too many marketing firms lack the right sort of information as needed to plan and perform at optimal levels of efficiency. -True -False

True

When making brand choices, consumers don't just simply look for product usefulness. Consumers also often search for personal meaning/identification from the brand they choose. Each statement is: -True -False

True

When marketing new songs, movies, or fashions, the the sweet spotfor new product developers entails creating new products that simultaneously feel fresh and familiar. -True -False

True

According to this Module, consumers should avoid _______________________ when it comes to past pricing decisions. -Overspending -Buying expensive drinks -Trusting themselves -Other consumer's opinions -None of the above

Trusting themselves

How many core competencies does a firm need to deliver effectively to create extreme levels of success for itself? -One -Two -Three -Four -Five

Two

Sales promotions are usually used by marketers to incentivize (motivate) customers to make a purchase during the next: -Two weeks or so. -One year or so. -Two months or so. -Two or three days. -Year or so, or even later, sales promotions usually have long-term effects.

Two or three days.

Which of the nine conflict management and resolution rules recommends that supply chain managers be aware that geographic, ethnic, and corporate differences exist? -Don't feel guilty -Pick battles carefully -Don't overthink -Understand and accept the other's cultural norms -Work to improve your vision

Understand and accept the other's cultural norms

The best brand stories are _____________________________. -Ephemeral in nature. -Fictional in nature. -Unique in nature. -Illusionary in nature. -Perceptually grounded in nature.

Unique in nature.

______________ are factors that differentiate one brand from other competing brands -Value propositions -Differentiation tactics -Unique selling propositions -Positioning activities -Success factors

Unique selling propositions

Jeremy Bentham (1747-1842) wrote, ''The right (ethical) thing to do is that which maximizes utility." Stated differently, inside marketing settings the right thing to do is the choice that generates the highest overall happiness. These two statements illustrate: -Truth-telling principles -Utilitarian principles -Deontological principles -Your "Mother & Facebook" principles -Enlightened Self-Interests principles

Utilitarian principles

__________ marketing research information is secured from questions measuring exactly what they're supposed to measure. Valid questions capture no more and no less information than what they purportedly measure. Marketers cannot develop valid information unless they have first developed reliable measures, or questions. -Valid -Reliable

Valid

An exchange, defined, involves a "get and a given." What is typically "gotten and given" during exchange processes? -Money -Solutions -Products -That, finally, "I have enough" feeling that can be so difficult to sustain. -Value

Value

To survive inside competitive environments organizations must provide targeted customers with greater ___________ than those customers receive from competitors. -Value -Attention -Time -Feedback -Service.

Value

The term _______________________________ captures and reflects the sum of potential and actual values that positioned products offer. -Positioning power -Value Proposition -Determinant value -Promotional efforts -Marketing mix

Value Proposition

The sum of potential and actual values that positioned products offer to prospects or customers is known as a(n): -Offering -Promise -Value proposition -Offer proposition -Success factor

Value proposition

____________ represents the grand total of any brand's problem-solving capacity. It can feature both emotional and ration al components, and integrate elements of the give and get concept. -Brand positioning -Market analysis -Product proposition -Critical value -Value proposition

Value proposition

_________________ summarize(s) all the reasons and values related to why customers should purchase one marketer's specific brand rather than alternative brands being promoted and positioned by other marketers. -The marketing mix -Value propositions -Brand positioning -Advertising -Word of Mouth

Value propositions

Which statements are true about the natural relationship between value and prices? -Prices should illustrate value. -Prices should drive value. -Value should drive prices. -Value and price are not related. -Value is impossible with prices.

Value should drive prices.

In statistical assessments, the measurement known as the median is the: -Most frequently occurring value -Average value -Spread between the lowest and highest occurring value -Range between the highest and lowest occurring value -Value that sets right in the middle in any list of values

Value that sets right in the middle in any list of values

Which pricing tactic relies on customers' perceptions of the product's value to establish price? -Cost-based pricing -Value-based pricing -Cost-plus pricing -Targeted pricing -Penetration pricing

Value-based pricing

Occasion-based segmentation often works effectively because the tactic permits marketers to use their insights about the reasons why consumers purchased brands to adjust their ________________________. -Promotion -Value-proposition -Incentives -Service-proposition

Value-proposition

Tom visits a local burger stand for the first time. He is impressed by the freshness of the food. However, when Tom revisits the stand, his food was cold and stale. Bummer. The change in the quality of Tom's meal reinforces the fact that marketing services are often characterized by high levels of _____. -Intangibility -Inseparability -Perishability -Variability -Validity

Variability

In statistical analysis, which measurement captures the range of a sample of responses? -Mean -Median -Mode -Variance

Variance

Which statement best characterizes variance? -Variance is equal to the average. -Variance is the middle value in the list of numbers. -Variance is the number that occurs most frequently. -Variance is the difference between the largest and smallest values. -Variance is reflected in the diversity and prevalence of numbers.

Variance is the difference between the largest and smallest values.

The term economists use to designate the sort of goods or services for which demand rises when their prices rise is: -Luxury goods. -Veblen goods. -Inelastic goods. -Elastic goods. -None of the above

Veblen goods.

What marketers strategically strike promotional "poses" in order to publicly display the "right" behaviors toward targeted audiences; or publicly support the "right" causes; or purchase and the publicly promote the "right" products, the marketers are engaging in: -Cause Marketing -Virtue Calling -Environmental Segmenting -Corporate Strategy -Virtue-Signaling

Virtue-Signaling

Which factor, if present, will most likely "give legs"- contagion-like effects - to marketing messages and stories? -E-communication -The internet -WOM or eWOM -The reliability and trustworthiness of messages -The "sexiness" (literally) of messages; because sex always sells

WOM or eWOM

Which product would prove most appropriate for an age-based segmentation approach? -Potato chips -Laptop computers -Walking canes -Sandals

Walking canes

Which company was first to introduce RFID tracking systems to keep track of the exact physical location of its packages? -Kmart -Amazon -Walmart -UPS -Sears

Walmart

Which grocery store brand succeeds primarily based on a low-cost provider core competency? -Sprouts -Natural Grocer -Trader Joe's -Walmart -Kroger's

Walmart

Culture is the most basic cause of consumers': -Wants and behaviors -Needs and behaviors

Wants and behaviors

Focus groups are used as a marketing research method that focus on: -One-to-one researcher-customer interactions. -One segment of potential or actual customers -What 8-10 individual customers have to say or think about particular issues or problems -Tiny niches of actual customers. -What is best-described as micro-targeted B2C research efforts; hint, "focus-groups."

What 8-10 individual customers have to say or think about particular issues or problems

For determinant differences to exist, actual or perceptual differences must exist between brands and __________________ -marketers must communicate those differences to consumers. -brand differences must be important to customers. -consumers must determine what brand to purchase. -brand differences must be sustainable. -consumers must desire competitors' products.

brand differences must be important to customers.

Using the ethical philosophy known as utilitarianism often means that decision makers must ________________________________ in order to be or remain moral. -make a choice. -follow the path of least resistance. -make an ethical decision. -follow their guts. -choose the lesser of two evils.

choose the lesser of two evils.

_____________ refers to the reduced costs per unit that would arise from the opportunity to produce, promote, or deliver larger quantities of products. -opportunity costs -economies-of-scope -economies-of-scale -fixed costs -variable costs

economies-of-scale

Planning processes are best driven ______________. -from the outside-in. -from the inside-out. -from either the inside-out or the outside-in. -from the top to the bottom. -without considering the starting point.

from the inside-out.

Genuine victimhood is a big problem. But even _____________ victimhood can create intense emotional responses amongst individuals. -irrational -perceived -implied -true -small

perceived

Twitter and Facebook continuously attempt to fend-off the imposition of federal regulations by _________________________. -better positioning themselves to respond to any consumer complaint. -doing nothing and hoping that the problem simply goes away. -lying to people and saying they represent one thing when in reality they represent something else. -changing their policies to match consumer sentiment -publicly issuing ever-changing policies on exactly what type of content represents misinformation.

publicly issuing ever-changing policies on exactly what type of content represents misinformation.

When marketers choose which segments to target, they also choose _______________________. -the amount of money they will make. -the firms against which they will compete. -how consumers will perceive their products. -what position that product will occupy in the consumers mind. -the amount of money the firm will have to spend.

the firms against which they will compete.

The most basic purpose of marketing and marketers themselves is satisfy: -the marketer itself. -the overall firm. -the marketers' shareholders (owners). -the marketers' customers. -the marketers' employees.

the marketers' customers.

Plymouth's 1939 ad messages boasted that the car was "different from any other car you've ever tried." This claim triggered an __________________ among prospects. -unconscious scarcity-response -conscious fear-response -unconscious fear-response -conscious scarcity-response. -unconscious desire-response.

unconscious fear-response

At times, marketers develop entirely new or tweak existing products that are subsequently targeted toward current market segments. Apple essentially has pursued a product development strategy since it first introduced iPhones in 2007. This example illustrates a: -Diversification Growth Strategy -Market Development Growth Strategy -Market Penetration Growth Strategy -Product Development Growth Strategy

Product Development Growth Strategy

B2B goods can be further classified into: -Consumer goods -Positional or luxury goods -Product or support goods -Commodities

Product or support goods

The 4P's of the marketing mix when tangible products are: -Product, packaging, price, promotion. -Product, people, price, promotion. -Product, price, place, promotion. -Product, price, place, performance.

Product, price, place, promotion.

Marketers should view themselves as need-satisfiers, problem-solvers and __________. -Promise-makers, promise-keepers -Dissatisfaction-creators -Inquisitive researchers -24/7 marketers

Promise-makers, promise-keepers

All marketers are _____________. Successful marketers are also ______________ -Liars; rich -Consumers; businesspeople -Product users; product developers -Brands; Brand Managers -Promise-makers; promise-keepers

Promise-makers; promise-keepers

The branding stories behind each successful brand include ____ to/for consumers. -Promises -Benefits -Solutions -Products -None of the above

Promises

Customers sometimes view price increases as a positive. They adopt this view because: -Higher prices infer improved quality. -Rising prices often infer that the value of the product is trending higher inside the "collective mind" of the market. -Rising prices mean more people are able to buy the product. -Rising prices mean the consumers are buying the product out of fear-of-missing-out.

Rising prices often infer that the value of the product is trending higher inside the "collective mind" of the market.

Planners must manage two types of risks. Those two risks are: -Economic and financial risk -Political and cultural risk -Risks of sinking the boat or risks of missing the boat -Local and global risk -Monetary and nonmonetary risk

Risks of sinking the boat or risks of missing the boat

When consumers are engaged in __________ the decisions and products that are involved usually feature (a) little to no risk; (b) low (relative) costs, including the costs associated with making bad choices; and (c) little to no information search. The menu of solutions is already known. -Limited Problem-Solving -Routine Problem-Solving -Extensive Problem-Solving -Big Hairy Audacious Problem-Solving

Routine Problem-Solving

__________ is the normative belief that when promises are made they prove to be promises kept. -Collective acceptance -Mutually-shared, long-term commitments -Solidarity -Reciprocity. -Shared trust

Shared trust

The most desirable shelf space for B2B marketers who sell their products to and through grocery stores resides at or on _________________. -The top of the shelf -The bottom of the shelf -Shelf space at the ends of aisles -Shelf space right in the middle of aisles -The uppermost of the topper-most shelf space, all because human eyes are naturally inclined to look-up

Shelf space at the ends of aisles

Which answer describes a logistical function that is performed inside all supply chains? -Wholesaling -Manufacturing -Retailing -Shipping -All of the above

Shipping

Which logistical function is highly specialized, often globalized in nature, and has achieved mind boggling economies of scale? -Delivery -Order processing; think Amazon -Shipping -Sorting -Warehousing

Shipping

For which classification of consumer goods would consumers expend the most effort as they attempt to make just the right choice? -Convenience -Shopping -Specialty -Unsought -Positional

Shopping

The Toyota brand of automobiles is a good example of: -Unsought goods -Shopping goods -Convenience goods -Specialty goods -Luxury goods

Shopping goods

When ads grounded in slice of life messaging styles are targeted at men, the ads usually: -Demonstrate how using the product will increase their connectedness to others. -Show how the product will help them rise up in some sort of hierarchy. -Demonstrate how they will get ostracized or criticized more frequently if they fail to make the right choice. -All of the above.

Show how the product will help them rise up in some sort of hierarchy.

When current General Motors CEO Mary Barra was an HR director for the automotive giant she cut a ten-page report that advised employees about how to dress to two words: "Dress appropriately." What NPD success factor does her response best exemplify? -Simplicity -Unexpectedness -Concrete as opposed to abstract -Credible in appearance -Resonating emotionally or logically

Simplicity

The personality of the Hallmark Greeting Card brand (i.e., Hallmark's brand personality) is best described as: -Rugged. -Existing. -Sophisticated. -Humorous, a cut-up. -Sincere

Sincere

What type of risk involves losing overly huge bets that could ultimately ruin the organization? -Missing-the-boat -Jumping-the-boat -Calculated -Sinking-the-boat -Coming up snake eyes

Sinking-the-boat

Professionals guided by _________________________________ generally do whatever the situation allows them to get away with, without regard to the wider longer-term reputation of their firm or themselves. -Sustainable ethical values -Personal moral beliefs -Situational ethical values -Justifiable moral values

Situational ethical values

Which core pricing strategy is being used when marketers are able to create extreme differentiation and/or branding power for their products and charge premium prices? -Allocating -Skimming -Penetration -Adjusting

Skimming

See the following list of advertising media. Which advertising media would likely work best for marketers seeking to target college students in order to inform about the existence of a new product? -Billboards -Mail Advertisements -Flyers -Social Media Advertisements -Traditional WOM

Social Media Advertisements

____________ _______________ exist as relatively enduring and ordered divisions inside the American population. -Societal differences -Social classes -Cultural trends -Environmental trends

Social classes

_______ comparisons are routinely made, and these comparisons themselves routinely generate net ________ outcomes for consumers. -Social; Varying -Antisocial; Positive -Antisocial; Negative -Social; Negative -Social; Positive

Social; Negative

In order to be _____________________ marketers should strategically evaluate their customers' wants and long-term needs - as well as society's long-term interests - before doing anything else. -Customer-focused -Socially-focused -Self-interest-focused -Reputation-focused

Socially-focused

The supply chain norm called ___________ is embodied in the sense that even when times are challenging, we are will work things out together. -Teamwork -Collaboration -Reciprocity -Solidarity -Collective acceptance

Solidarity

Supply change relationships that successfully bind together marketing organizations as cooperating partners are generally based on the presence of certain desirable norms and values. These norms and values include shared trust, collective acceptance, shared commitments, _____________and _______________. -Benefits; gains -Collaboration; cohesion -Solidarity, reciprocity -Made promises; kept promises -Commitment; cohesion

Solidarity, reciprocity

The primary purpose of marketing strategies is to develop a superior way to ________: -Grow revenues. -Solve customer's problems. -Grow profits. -Gain market share. -Protect market share.

Solve customer's problems.

At what point do traditional supply chains begin? -Manufacturing firms -Downstream firms -Assembling firms -Source firms -Wholesalers

Source firms

The need to achieve ____________ invariably prevails inside supply chains. This specific need generally plays out in the form of one marketing organization's ability to perform a given supply chain function more effectively than partnering firms can perform the function for themselves. -Specialization -Greater customer attention -Greater share of mind -Lower prices

Specialization

When consumers decide to purchase---------- they generally don't expend much effort or engage in much brand comparison. Customers have already decided which brand inside the product category is most desirable to them; no need exists to further shop around. -Convenience goods -Shopping goods -Specialty goods -Unsought goods

Specialty goods

Marketing research produces information and knowledge. Hopefully this knowledge eventually produces ___________________________ and ______________________ insights. -Meaningful; specific -Specific; actionable -Reliable; intangible -Reliable; actionable

Specific; actionable

The ability and willingness to act and decide in creative ways proves most important during which stage of the NPD process? -Stage 1 -Stage 2 -Stage 3 -Stage 4 -Stage 5

Stage 2

_________________ are inventoried items that are core to one's business or are core to the performance or conduct of consumers' or customers' normal activities. -Competencies -Minor Goods -Staple Goods -Inelastic Goods -Elastic Goods

Staple Goods

In terms of market segmentation, which of the following is not considered a demographic? -Gender -Ethnicity -Personality Traits -Occupation

Personality Traits

AIOs are segmentation criteria used to measure consumers': -Activities, Interests, and Opinions -Attitudes about their Interests and Opinions -Social class status -Cultural and subcultural membership

Activities, Interests, and Opinions

Several normal and expected marketing activities are shown below. Which activity will likely contribute most to marketing success? Select Answer(s) -Advertising innovative products to the right customers -Building appealing differentiating brands -Building a uniquely important marketing strategy -Signaling social responsibility -Delivering these brands successfully to a targeted market segments

-Building appealing differentiating brands -Delivering these brands successfully to a targeted market segments

The underlying premise of the marketing concept is highly similar to the underlying premise of enlightened self-interests. That is to suggest, helping your own organization focus on helping other organizations or individuals solve their problems. -True -False

-True

On average, consumers spend only about _______________ seconds deciding to buy one brand as opposed to another branded option from the same product category. -10 -13 -27 -42 -60

13

When did Twitter introduce the retweet button? -2007 -2008 -2009 -2010 -Twitter has had a retweet button since the product was launched.

2009

The average attention span of American consumers used to be around thirty seconds. How long are average American consumers' attention spans today? -3 to 5 seconds -5 to 7 seconds -7 to 9 seconds -9 to 11 seconds -40 to 50 seconds.

3 to 5 seconds

What two factors interact and usually provide answers to "why" consumers decide what to buy or not to buy questions? -A combination of promotion and desires -A combination of genetics and the environment -A combination of genetics and promotions -Even experts do not really know which two factors are most likely to interact in ways that answer, "Why."

A combination of genetics and the environment

What type of promotional strategy is being used when retailers are incentivized to sell more of a particular product? -A Pull Strategy -A Push Strategy -An Integrated Promotional Strategy -A Direct Marketing Strategy -A Personal Selling Strategy

A Push Strategy

When marketers encounter conditions where ______ exists, they usually should increase prices. -Market scarcity -Elastic demand -Declining levels of competition -Increased levels of competition -All of the above -A and C only

A and C only

According to the Boston Consulting Group's Growth Share-Product Planning matrix, a "Dog" is: -A brand focused on animals -A brand with high market shares in a high growth market -A brand with low market shares in a low growth market -A brand with low market shares in a high growth market -A brand with high market shares in a low growth market

A brand with low market shares in a low growth market

The entire set or collection of values, ideas, or attitudes that shared among and/or learned from the members of a group make-up _____ -Beliefs. -Attitudes. -Societal norms and values. -The status-quo. -A culture.

A culture.

Which group would provide the most "representative sample" of the UNT student population? -A group consisting of the UNT football and Men's/Women's basketball teams. -A group consisting of a proportional number of male and female UNT students. -A group consisting of the faculty. -A group containing undergraduate students only.

A group consisting of a proportional number of male and female UNT students.

What is market segmentation? -The promotion of a particular product or company by means of advertising and distinctive design. -A process through which broader, larger, more heterogeneous markets are divided into narrower, smaller, more homogeneous market segments -A tool that firms manage with the intent of creating hopefully-differentiating value for the branded products they make and market. -An image and set of benefits or problem-solving values, that presumably is associated with branded products.

A process through which broader, larger, more heterogeneous markets are divided into narrower, smaller, more homogeneous market segments

Which of the following purchases does not typically involve routine problem solving? -Milk -A wedding dress -Chewing gum -A cup of coffee

A wedding dress

Which statement is true? -Consumers generally over-value certainty and assurance. -When it comes to making a price-based consumption decision, most consumers are at least a little irrational some of the time. -Consumers are always looking for low-cost products. -A+B -A+C

A+B

Core competencies: -Provide bases through which sustainable competitive advantages (SCAs) can be achieved. -Can arrive from multiple marketing-controlled sources. -Can provide solid bases on which to achieve both differentiation and positioning success. -Only a and c are correct. -A, b, and c are each correct.

A, b, and c are each correct.

Which answer is correct? Positive brand equity can: -Increase the "share of mind" space enjoyed by the branded product. -Be used by firms to launch new products more easily. -Charge higher prices and not lose market share -A, b, and c are each correct. -None of a, b, or c are correct.

A, b, and c are each correct.

Effective, viable and potentially attractive market segments should be measurable, _________________, substantial, differentiable and actionable. -Accessible -Profitable -Identifiable -Reachable -Responsive

Accessible

The act of ______________________entails buying entire companies, acquiring rights to patents, or acquiring licenses to produce someone else's products. -NPD -Re-branding -Acquisition -Re-positioning -Merging

Acquisition

Attractive market segments are generally measurable, accessible, substantial, differentiable and _________. Which description is missing? -Pliable -Manageable -Malleable -Actionable -The missing word is missing here, too.

Actionable

________ is/are defined as the entire set of values, ideas, or attitudes shared among or learned from the members of a group. -Self-concept -Value propositions -Culture -Psychographics

Culture

Which of the following is not an environmental trend? -Slightly less than half of adults in the US - a record low - are married. -The percentage of people in the US who regularly attend church, mosque, synagogue, or temple, is lower than at any point in US history, and dropping further year by year. -Global apparel production essentially doubled between 2000 and 2016. -Spring is the real time for making New Year Resolutions. Most weddings, gym memberships, new makeup sales and healthy diets rise during this Season. -All of the above are environmental trends.

All of the above are environmental trends.

Marketers use tools other the traditional promotional mix when communicating with consumers. Which answer does not illustrate such a tool? -Product design -Product's price -The nature and brand of retail stores -Product color -All of the above are examples

All of the above are examples

A mass-marketing (undifferentiated) targeting strategy will more likely work effectively when: -The product being marketed is in the early stages of its product life cycle. -The product being sold is not easily differentiated from other brands of the same product. -Little competition exists from other brands. -Market segments exist but are too small to effectively target individually. -All of the above are true.

All of the above are true.

Which statement best describes what what successful marketers know? -Successful marketers know that marketing and/or interpersonal brand impressions really matter. -Successful marketers know that almost everything everyone does has marketing implications. -Successful marketers know that knowledge is the fundamental source of competitive advantage. -Successful marketers know that change is inevitable, so they accept and deal with change, manage change, and lead change. -All of the above describes a principle that most successful marketers know.

All of the above describes a principle that most successful marketers know.

Good mission statements should: -Identify and/or steer the development of core competencies. -Motivate the organization's key stakeholders. -Describe where the firm is heading in the future. -All of the above.

All of the above.

It's important to set clear and measurable metrics when setting goals for yourself or your subordinates because: -People perform to their metrics; especially when they are certain what those metrics are. -The presence of measurements permits one to identify when goals have been met or one's efforts are coming up short. -The presence of metrics provides greater assurance that people are working on the right things. -All of the above.

All of the above.

Questions related to "why" consumers decide to buy the brands (products) they decide to buy are difficult to answer. The primary reason why this statement is true because: -Consumers' primary reasons; their motives to act are locked and hidden away inside their minds. -Consumers' actions that make sense to them can appear irrational to others. -Consumers habitually lie about their intentions. -All of the above. -None of the above.

All of the above.

Which item is not associated with brand names? -Signs -Words -Colors -Shapes -All the above are associated with brand names.

All the above are associated with brand names.

A primary goal that motivates two brands to come together by using a co-branding strategy is to: -Expand existing branding power into new markets. -Expand existing branding power into new product categories. -Obtain the rights (as in the licensing rights) to use a new brand name or to acquire financial remuneration in exchange for using the value of the brand. -All the preceding answers are correct. -Non preceding answeris correct.

All the preceding answers are correct.

Accurate answers to "Why" questions that arise inside the consumer behavior field are often difficult to find. The "why" question is often difficult to answer because: -Often no one best answer exists to "why" questions -Consumers often lie to marketing researchers -Consumers often tell marketing researchers what they believe the marketing researchers want to hear. -Answers to "why" questions reside inside consumers' black boxes -All the responses accurately describe a source of the difficulty in answering "why"

All the responses accurately describe a source of the difficulty in answering "why"

How might "embracing boredom" make a person become more creative? Boredom: -Challenges your thinking. -Allows for free ranging intersections of thoughts and ideas. -Pushes one towards technology. -Keeps people away from others who might bring them down. -Allows people to get more sleep and consequently refresh their thinking.

Allows for free ranging intersections of thoughts and ideas.

Secondary marketing research information: -Is more expensive than primary marketing research information -Already exists -Already exists but was originally collected for different purposes -Is more important than primary information -Typically can be used to solve marketer's most pressing problems

Already exists but was originally collected for different purposes

Which choice bests represents the "enhanced brand warranty" level of a brand? -Best Buy's price match guarantee -Ford's use of new aluminum truck frames -Apple's iMessage between devices -Amazon's one day delivery -All of the above

Amazon's one day delivery

The warranty associated with automotive purchases illustrates: -A tangible dimension of an intangible product. -A tangible dimension of a tangible product. -An intangible dimension of a tangible product. -An intangible dimension of an intangible product.

An intangible dimension of a tangible product.

According to your book, what steps are involved in classic marketing planning processes? -Analyzing marketing opportunities; selecting target markets; developing/executing an appropriate marketing mix -Scanning the market environment; developing quality products; developing strong marketing campaigns -Analyzing marketing opportunities; identifying ideal market segments; developing strong marketing campaigns -Analyzing marketing opportunities; identifying ideal target segments; developing quality products, and then developing and executing strong marketing mixes -None of the above

Analyzing marketing opportunities; selecting target markets; developing/executing an appropriate marketing mix

Successful marketers sometimes use a tactic known as _____________ because they know when consumers see ridiculously high prices first, the still-high but lower prices that follow these "ridiculously-high" price appear less expensive by comparison. -Value pricing -Anchoring pricing -Psychological pricing -Positioned pricing -Prestige pricing

Anchoring pricing

Which of the following is not generally important an important factor for marketing researchers to consider? -Competitors -Customers -Environmental trends -Ancient history -None of the above.

Ancient history

_________________ makes consumers optimistic and risk-seeking. Meanwhile, _________________ has the opposite effect. -Anger, sadness -Fear, anger -Fear, disgust -Anger, fear

Anger, fear

Apple is like Big Pharma in that _________________. -Each marketer enjoys a monopoly. -Apple products make people happy. -Apple's products solve people's problems with no consequences. -Apple's products are heavily regulated. -Apple's products simultaneously stimulate/sedate and educate/stupefy their customers.

Apple's products simultaneously stimulate/sedate and educate/stupefy their customers.

The best definition of services is: -Benefits that help consumers solve their problems. -Applying specialized competencies by performing deeds and processes in order to benefit service recipients and service providers. -The application of specialized competencies by performing deeds and processes in order to benefit service recipients. -The application of specialized competencies by performing deeds and processes in order to benefit appropriate stakeholders. -A better definition remains in the book, but is not shown here.

Applying specialized competencies by performing deeds and processes in order to benefit service recipients and service providers.

According to the book, too many pricing decisions that marketers make are _______ in nature. In fact, pricing levels of are too often established based on __________-based rather than ____________-based decisions. -Rational; Research; Gut-Based -Rational; Gut; Research-Based -Arbitrary; Gut; Research-Based -Arbitrary; Research; Gut-Based -None of the above

Arbitrary; Gut; Research-Based

Thressa Strutton correctly suggested that humans are not naturally herd-like creatures because they: -Prefer small-group versus large-group social experiences. -Are more likely than actual herd-like species to prey on their own kind. -Are more like dogs than cattle. -Instinctively create, join and follow herds. -None of the above.

Are more likely than actual herd-like species to prey on their own kind.

What discretely-visible symbol represents FedEx's forward-thinking ways and outward look toward the future? -Smiley face -Arrow -Heart -Mountains -The discrete body lean forward embedded in the holistic brand

Arrow

Firms should study their environments because: -That is where the opportunities are. -That is where the resolved customer problems are most likely to be identified. -That is where the threats are. -That is the place in which new and useful technology, which can make or break a firm's success, are most likely to be discovered. -As Willie Sutton said, that's where the money is.

As Willie Sutton said, that's where the money is.

____________ barriers function like chains holding down professionals, restraining them from thinking more creatively when facing the sort of complicated business and customer problems that need to be solved today. -Entry -Knowledge -Capital -Associative -Ignorance

Associative

The term _____________ refer(s) to those typically intractable notions that professionals or organizations should not change because "we have always done things this way." -Intersections -Associative barriers -Boredom -Creativity fences -None of the above

Associative barriers

Where and when did the first verified use of coupons happen inside the United States? -Dallas, 1899 -New York, 1887 -Los Angeles, 1854 -Atlanta, 1887 -Boston, 1774

Atlanta, 1887

Before they can prove effective, marketing messages usually must _____________ and ____________ attention from the targeted segments. -Create; then maintain -Attract; then sustain -Entice; then sustain -Entice; then maintain -Repulse; then attract

Attract; then sustain

The word or phrase _____________ is a synonym for brand characteristics. The same word or phrase is also often used to distinguish one brand from other brands that are competing with each other inside the same product category. -Categories -Brand personality -Brand identity -Attributes -Positioning

Attributes

______________________ distinguish one brand from another and are used by consumers as they evaluate the qualities, characteristics, value and appeal of different brands. -Benefits -Attributes -Value -Differentiation

Attributes

Placing too much faith in the accuracy of information provided by machines is known as: -Artificial intelligence -Respondent bias -Machine learning -Automation bias

Automation bias

What's the name of the world's first viral-lized digital video? -Summer.mpg -Brainwash.mpg -Sorry.mpg -Badday.mpg -Loronix.mpg

Badday.mpg

Assume that Best Buy (the retailer) announces a huge sale in which a promotion promises the new iPhone 12 is "available at $300.00 below normal prices." This heavily discounted price drives droves of consumers to the only Best Buy store in town. However, this retailing site only has 3 iPhone 12's available at this LOW price. This marketing/promotional tactic is called _________. -Greenwashing -Pinkwashing -Dumping -Bait and switch -Colluding

Bait and switch

Similar to other areas of personal life, most successful planners generally function as professionals who willingly exercise and display: -Their own power -Balance -A ruthless pursuit of profit -Self-constraint and caution -All of the above are correct

Balance

The presence of high start-up costs, patents, or high tax burdens generally function as__________. -Barriers to competitive entry -Economies of scale -Regulatory disadvantages -Anti-competitive practices -Points of sustainable differentiation

Barriers to competitive entry

__________________________ is an economic concept that describes the existence of high start-up costs and other marketing-based obstacles that prevent new competition from easily entering existing markets. -Branding power -Barriers-to-entry -Predatory pricing -Economics-of-scale

Barriers-to-entry

Which statement does not reflect one of Don Miguel Ruiz's four agreements as covenant business promises that all supply chain managers should make? -Bing impeccable with your word. -Not taking everting personally. -Not making assumptions; particularly about the other party's motivations. -Be empathetic. -Always doing your best.

Be empathetic.

Why did Arby's VP of Communications give a bag of sandwiches and a puppy to the creator of a spoof Twitter account @nihilist_arbys? -Because Arby's wanted to show customers what they could win if they talked about their brand. -Because Arby's a wanted to show people that they care about their customers. -Because Arby's anticipated the subsequent publicity and indeed an eventual story in Business Week generated high levels of positive exposure for the brand. -Because Arby's wanted to reward all the positive word-of-mouth they received. -Because Arby's sought to change the negative publicity they received for the "missing mystery meat" incident.

Because Arby's anticipated the subsequent publicity and indeed an eventual story in Business Week generated high levels of positive exposure for the brand.

Why does the arrival of crises often prove so important inside the context of marketing strategy development? -Because crises increase competition between organizations. -Because crises eliminate the weak performers in the marketplace. -Because crises offer opportunities to initiate change. -Because crises motivate organizations "to get back to the basics." -Because crises force organizations "to get back to the basics."

Because crises offer opportunities to initiate change.

Why is cheating unethical? -Because the leaders, organizations, or nations who are not cheating get exploited. -Cheating is not unethical because essentially everybody cheats -Because people who don't cheat will be, in the end, more successful -All of the above -None of the above

Because the leaders, organizations, or nations who are not cheating get exploited.

The phrase "pigs get feed, hogs get slaughtered" implies that: -Greed is good. -Being overly greedy is a bad idea. -Marketers should never raise prices. -Marketers who raise prices are engaging in predatory, or pig-like, pricing tactics. -When products are scarce, marketers should raise prices.

Being overly greedy is a bad idea.

___________ are descriptive thoughts that consumers develop, have, and hold about something. By contrast, ____________ capture consumers' relatively enduring, consistent, and more deeply-held evaluations, feelings, and tendencies toward stimuli such as ideas, objects, experiences, or people. -Values, motives -Personalities, identities -Attitudes, perceptions -Influences, learning -Beliefs, attitudes

Beliefs, attitudes

The most effective advertising message appeals are generally meaningful and: -Sexy. -Appealing. -Believable. -Humorous. -None of the above

Believable.

Which answer does not reflect an NPD activity? -Bending -Breaking -Blending -Benching -Each answer reflects an NPD activity

Benching

Which NPD activity is analogous to creating new intersections? -Redesigning -Breaking -Blending -Bending

Blending

Marketing research entails collecting and analyzing information relevant to a specific marketing problem or opportunity/threat facing the marketer that is conducting the research. Insights generated through marketing research links customers or prospective customers to marketers through information. -Both statements are wrong. -Both statements are correct. -The first statement is right; the second statement is wrong. -The first statement is wrong; the second statement is correct.

Both statements are correct.

Most people will cheat when two preconditions are present. These preconditions are when: -The rewards are sufficiently high, and the risks of getting caught are known. -Cheaters believe they will escape detection and no other choice appears to exist. -The rewards are sufficiently high, and people feel threatened. -Cheaters perceive the rewards are sufficiently high, and cheaters believe they can get away with the cheating. -The perceived risk of getting caught is extremely low and nothing is likely to be missed, anyway.

Cheaters perceive the rewards are sufficiently high, and cheaters believe they can get away with the cheating.

Since 1990, which meat market has grown the most? -Beef -Pork -Chicken -Turkey

Chicken

Which brand name is "metaphorical" in nature? Kraft Chicken of the Sea Toyota Allstate Zale's

Chicken of the Sea

Which culture is the source of the idea that crises are composed in near equal parts of opportunities and threats. -Persian -Chinese -Indian -European -Native American

Chinese

Pavlovian Responses, as first discovered by Russian scientist Ivan Pavlov [and his dogs, food the ringing of a bell] are today better understood as: -Classical conditioning. -Conditioned stimuli -Stimulus and response -Training learning

Classical conditioning

The pleasurable feelings that arise inside consumers' minds after they have purchased a new product often leads to the purchase of another product. This psychological process illustrates: -Classical conditioning. -Operant conditioning. -Neither of these answers is correct, -Both answers are correct.

Classical conditioning

What term best describes what happens when two well-established brands from different firms are joined together in one product? -Cross branding -Collaborative branding -Brand equity -Co-branding -Cooperative branding

Co-branding

Whenever the HEB grocery store advertises Central Market products the strategic activity known as ________ is being executed. -Shared differentiation -Branding equity -Co-branding -Brand sharing -Collaborative promotion

Co-branding

Amazon is currently leveraging its branding power to push customers to shop more at Whole Foods.Apple and Goldman Sachs teamed up during 2019 to jointly issue a credit card. These are examples of: -Brand interest. -Brand differentiation. -Shared branding. -Brand positioning. -Co-branding.

Co-branding.

What is the name of the situation in which consumers' thoughts, beliefs and attitudes about a decision they have made become inconsistent? -Complaint -Buyer's remorse -Cognitive dissonance -Negative WOM -Anger without enthusiasm, or low-grade-depression.

Cognitive dissonance

Inside the written Chinese language, crises are pictorially represented as: -Unknown situations in which decision makers don't know, with assurance, what to do -Situations where any marketing organization is in danger -Opportunities to earn more money -Threats to their business -Combinations of both opportunities and threats

Combinations of both opportunities and threats

_________________ are products produced by many different firms that struggle to achieve differentiation. -Supplies (of goods and services) -Provisions (of services) -Necessities -Commodity products -Customized products

Commodity products

Which answer does not describe a desirable communication outcome that would likely lead to a more persuasive message? -Comprehension -Compatibility -Connectiveness -Credibility -Contagiousness

Compatibility

_______________________ can be described as strong points of differentiation that firms either possess or seek to create through strategizing. -Customer wants. -Marketing mixes. -Competitive advantages. -Differentiation strategies. -Each of the preceding options is correct.

Competitive advantages.

What type of competition should firms pay the most attention to when they price their brands at or below market averages? -Competitor firms that price their products above average levels. -Competitor firms that price their products at the same market level. -Competitor firms that produce superior product. -Competitor firms that do not have a distinct competitive advantage. -Competitor firms that price their products using cost plus pricing methods.

Competitor firms that price their products at the same market level.

Which word does not belong to the set of five criteria that can be used to identify the best NPD ideas. -Simple -Credible -Complex -All of the above fit -None of the above fit

Complex

______________ is usually the first step in most strategic marketing planning processes (according to your book). -Determining the mission -Identifying goals -Conducting a SWOT analysis -Creating a team

Conducting a SWOT analysis

Marketers should usually do everything reasonable and possible to make their messages more persuasive. Which key message trait emphasizes that persuasive messages should trigger an emotional or intellectual response? -Comprehensibility -Connectedness -Credibility -Contagiousness -Courteousness

Connectedness

Two primary schools of ethical philosophical thinking exist. The schools are: -Deontology and Enlightened Self-Interests. -Consequentialism (Utilitarianism) and the Rule of Law. -Consequentialism (Utilitarianism) and Deontology. -Deontology and Positivism. -Doing-Well-by-Doing-Good and "The Facebook and your Mother test."

Consequentialism (Utilitarianism) and Deontology.

Which statement best describes the true nature of "consumer goods"? -Consumer goods are purchased and used by end-use consumers in order to solve or satisfy their own problems, wants or needs. -Consumer goods are purchased and used to solve or satisfy some other consumers' needs-wants-problems. -Consumer goods are purchased and used by end-use consumers in order to solve or satisfy their own problems-wants-needs; or to solve or satisfy some other consumers' needs-wants-problems. -Consumer goods are purchased at the end of B2B supply chains.

Consumer goods are purchased and used by end-use consumers in order to solve or satisfy their own problems-wants-needs; or to solve or satisfy some other consumers' needs-wants-problems.

Why do consumers typically choose certain brands rather than others? -Consumers choose the brand that, in their mind, offers the best solution to their problems. -Consumers are usually loyal to more than one brand. -Consumers choose whatever brand is the cheapest. -Consumers choose brands that are most convenient for them.

Consumers choose the brand that, in their mind, offers the best solution to their problems.

What is the best explanation of why consumers would decide to enter one and not another exchange relationship? -Consumers will enter the exchange that gives them the "latest and greatest" product. -Consumers will enter the exchange that increases their social status by the widest margin. -Consumers will enter the exchange that allows them to contribute the most to society. -Consumers will enter the exchange that they perceive will deliver the greatest value to them.

Consumers will enter the exchange that they perceive will deliver the greatest value to them.

What two elements must coalesce in order to form positive attitudes about brands in consumers' minds. -Brand loyalty and brand equity -Brand personality and brand equity -Consumers' self-concept and brands' personality -Brand equity and brand value -All of the above

Consumers' self-concept and brands' personality

What item should strategic planners have in place that they can turn toward when plans don't work out as originally planned? -Strategic plans -Insightful plans -Balanced plans -Contingency plans -Equitable plans

Contingency plans

________ are usually purchased more frequently than other categories of consumer goods. This type of products is also widely available and consumers usually do not engage in much brand comparison. -Convenience goods -Shopping goods -Positional goods -Specialty goods -All of the above

Convenience goods

______________________ are being used when independent organizations voluntarily agree to partner with each other and the partnership allows each firm to specialize in the performance of one or two core competencies. -Conventional marketing systems -Longer supply chains -Vertical marketing systems -Shorter supply chains -Horizontal marketing systems

Conventional marketing systems

Making observations and predictions about how changes in environmental or cultural trends will lead to new hot opportunities is best summarized as: -Environmental scanning -Planning and positioning -Cool-hunting -Marketing research -None of the above

Cool-hunting

When he was the Republican nominee for the U.S. Presidency Senator Mitt Romney was ridiculed by the media for making a statement that is in fact accurate according to long standing legal precedent. In that statement Mitt argued that __________________ are people. -Marketers -Islands -Politicians -Corporations -Organizations

Corporations

Humans simultaneously _________________ and ______________ the new? -Need, want -Loathe, fear -Crave, desire -Crave, fear -Each of the following responses is true.

Crave, fear

The absolute best way to ensure a huge marketing success is to: -Stand out rather than fit in. -Create a solution for a problem that customers don't realize they have yet. -Make old things seem new and new things known. -Continuously develop and deliver new things. -Answers "c" and "d" are absolutely the best way to ensure success.

Create a solution for a problem that customers don't realize they have yet.

Successful marketers must master various processes that generate need-satisfaction. What is the other, opposing, set of processes that marketers must manage? -Managing the marketing mix -Creating value that satisfies needs -Creating real or imagined customer wants and problems -Solving real or imagined customer wants and problems

Creating real or imagined customer wants and problems

The process of ________________________ entails the effects, the consequences, that result whenever long-standing products, processes, or solutions become obsolete and get displaced by new and superior products (or solutions). -Digitization -Creative destruction -Globalization -Product destruction -Planned obsolescence

Creative destruction

____________ entails what happens as long-standing and successful products or processes are obsoleted, dismantled, and/or replaced by new, superior, and more useful, and consequently innovative products and processes. -Creative success -Disruptive innovations -Creative destruction -Globalization -None of the above

Creative destruction

According to CEOs, the most important characteristic that professional hires must possess in order to be successful in the contemporary workplace is: -The right academic degree. -Disciplined work ethic. -Rule-following. -Creativity. -All of the above.

Creativity.

When a collective group's attitudes and beliefs change what sort of environmental dimension has been altered? -Societal trends -Cultural trends -Customer trends -Segment trends

Cultural Trends

What sort of human decisions are most subject to influence by marketers? -Reptilian-like (the instinctual portion of human brain) decisions -Genetically-predisposed decisions -Cultural-environmental factor-induced decisions -Governmentally-mandated decisions -None of the above

Cultural-environmental factor-induced decisions

Which of the following elements is not an ingredient for the service-related marketing mix? -Processes -Place -Price -Physical Surroundings -Each element is part of the marketing mix for services.

Each element is part of the marketing mix for services.

Which positive (desirable) outcome is least likely to arise when marketers are creative and deliver successful new products? -Increased efficiency -Consumer perceptions of differentiation -Economic growth -The emergence of competitive advantage -Each outcome is likely to arise

Each outcome is likely to arise

Brands are used to: -Differentiate otherwise homogeneous products. -Position products inside the same product category. -Create scenarios where marketers can successfully charge higher prices -No preceding answer is accurate. -Each preceding answer is accurate.

Each preceding answer is accurate.

What does Apple have in common with Big Pharma? -Each dominates their targeted market segments -Each is creative and effective advertisers -Each creates both psychological problems and solutions -Each creates both positive and negative impacts on society -Each preceding choice represents a "commonality" between the two entities

Each preceding choice represents a "commonality" between the two entities

Which of the following is not a key dimension that can contribute materially to successful brands? -Names -Symbols -Words -Designs -Each preceding item may prove a key dimension for successful brands

Each preceding item may prove a key dimension for successful brands

An organization's mission should be refined if: -The organization's internal strengths and weaknesses have drastically changed. -External environmental opportunities and threats have radically changed. -The mission statement is too broad to clearly define opportunities the organization should pursue. -Each preceding statement is true.

Each preceding statement is true.

Barriers-to-entry were originally a/an: -Economic concept describing existing obstacles that prevent new competitors from easily entering new markets. -Managerial concept describing existing obstacles that prevent old competitors from easily entering new markets. -Marketing concept describing existing obstacles that prevent new competitors from easily entering new markets. -Financial concept describing existing obstacles that prevent new competitors from easily entering new markets.

Economic concept describing existing obstacles that prevent new competitors from easily entering new markets.

Which academic discipline can best be described as the mother of marketing? -Art -Economics -Communication systems -Philosophical history

Economics

The term ______________ describes the diminished costs on a per-unit-basis of making and marketing products that usually result when marketing organizations produce increased total outputs of products. -Bulk savings -Efficiency metrics -Possession gaps -Economies of scale -Assortment management

Economies of scale

Marketing organizations generally create vertically-integrated marketing systems in situations where they can earn and leverage (choose the best choice): -Branding power. -Determinant levels of cost management. -Sustainable competitive advantages. -Large shipping efficiencies. -Economies of scale.

Economies of scale.

The word _______________ means rules or principles should prove useful in contexts having nothing to do with supply chains. -Egocentric -Mutuality -Ecumenical -Reciprocity -Deontological

Ecumenical

What strategic activity is the Major League Baseball (MLB) brand pursuing in order to expand its popularity among younger target segments? -Utilizing resources (the 3Ts) -Changing the rules of the game -Positioning -Branding -Engaging in new product development

Engaging in new product development

The ________________________ theory of ethics suggests that marketing decision-makers who consciously act to further the interests of others, including the interests of the group to which they belong or customers they seek to serve, are ultimately serving their self-interest. -Utilitarianism -Deontology -Enlightened self-interests -Relativism -Consequentialism

Enlightened self-interests

_________________ is an activity that entails establishing a business or businesses, taking on the associated financial risks, and doing these things with the hopes of earning market share and profits foremost in one's mind. -Capitalism -Entrepreneurship -Initial Public Offering (IPO) -Innovation -Invention.

Entrepreneurship

The word or phrase called _______ basically describes a gradual decline into disorder? -Entropy -Ocean's razor -Crisis -Parsimony

Entropy

The surroundings in which people, animals, plants or organization live or operate, and in which those persons, animals, plants or organizations strive to survive or hopefully thrive, is best described as a(n) ___________. -Ecosystem -Organization -Market -Industry -Environment

Environment

__________ are environmental trends that are breaking favorably for marketers because they enhance the success prospects of their current strategic marketing plans or future strategic marketing plans that they could develop. -Environmental opportunities -Environmental trends -Environmental scanning, the process -Environmental threats

Environmental opportunities

Which statement is true about environmental scanning? -Environmental scanning can be used to generate actionable market information that strategic planners can use. -Environmental scanning is an outdated marketing practice that should be replaced by environmental persuasion. -Environmental scanning is a secondary data collection practice used by marketers. -Environmental scanning is solely used by human resource representatives to determine the market climate. -All four statements are true.

Environmental scanning can be used to generate actionable market information that strategic planners can use.

The process of observing, researching, and interpreting various uncontrollable environment trends that might impact an organization, is known as: -An Environmental threat. -An Environmental trend. -Environmental scanning. -Environmental analysis. -An Environmental law.

Environmental scanning.

__________ are trends that are breaking badly for marketers because they degrade the success prospects of their current strategic marketing plans or future strategic marketing plans that marketers could develop. -Environmental opportunities -Environmental trends -Environmental scanning, the process -Environmental threats

Environmental threats

______________________ can be both positive for one SBU in the organization and negative to another SBU inside the same firm. -Opportunity trends -Competitive trends -Environmental trends -Cultural trends

Environmental trends

_______ consist of the surroundings in which people, animals, plants, or organizations live or operate—and in which those persons, animals, plants, or organizations strive to survive or hopefully thrive. -Markets -Habitats -Environments -All of the above

Environments

__________________ consist of the surroundings in which people, animals, plants or organizations live or operate - and in which those persons, animals plants or organizations strive to survive or hopefully thrive -Macro-Environments -Micro-Environments -Environments -Environmental Opportunity -Environmental Threat.

Environments

Who said "You would be amazed to find how often we mislead ourselves, regardless of how smart we think we are, when we attempt to explain why we are behaving the way we do?" -Peter Murray -Ernest Dichter -Carl Koller -Sigmund Freud

Ernest Dichter

The acronym SMART (Specific, Measurable, Actionable, Realistic, Time) applies to what specific marketing activity? -Social Media Marketing Activities -Traditional Marketing Activities -Content Development -Establishing Strategic Marketing Goals -Engaging in Consumer Marketing

Establishing Strategic Marketing Goals

Which step in the pre-planning process entails aligning resources, actions and energies to accomplish the organizations goals? -Positioning -Establishing goals -Establishing priorities -Pinpointing

Establishing priorities

____________ arise(s) whenever and wherever questions or doubts about the right or wrong choice to make in a particular situation arises. -Ethics -Morality -Marketing -Honesty -None of the above

Ethics

Ford Motor Co.'s decision to stop producing traditional sedan passenger cars illustrates a strategic response to: -Technology development. -Higher demands for corporate social responsibility. -Ever-changing customer preferences. -Innovation, which facilitated the introduction of superior products. -Changes competitor pressures.

Ever-changing customer preferences.

The limited (three to five) group of brands that come to mind first when problems that brands from known product categories can solve arise inside customers' lives is best known as a: -Consideration set -Evoked set -Top-of-the-mind "category" -Prioritized product portfolio

Evoked set

Top of the mind awareness is likely to arise whenever a brand resides inside a customers' __________ for that particular product category. -Mind -Position -Evoked set -Worldview -Preferred attitude set

Evoked set

When Monica thinks about soft drinks, the first brands that come to her mind are Coke, Dr. Pepper, and Pepsi. These three soft drink brands comprise her: -Total set -Perceived set -Evoked set -Intended set

Evoked set

__________ involves a trade of things of value between buyer and seller so that each party or participant is better off. -Exchange -Needs assessment -Consumerism -Utility -Commerce

Exchange

_______________________ exist as the simple and not-so-simple element that connects everything together inside marketing settings and contexts. -Intermediary relationships -Exchange relationships -Downstream relationships -Interconnected relationships -Determinant value connections

Exchange relationships

Buying a house is an example of which type of problem solving? -Extensive problem solving -Limited problem solving -Routine problem solving -None of the above

Extensive problem solving

Why are some chicken farmers increasingly interested in improving the quality of life for their birds? -Because happy chickens grow faster. -Studies show that birds with a good quality of life improve their size in the long run. -Farmers are also marketers who listen and respond to new consumers' needs and wants. -Farmers do not care about their profits. Therefore, they increase their costs to protect their birds. -This claim is false. Farmers are not interested at all in improving the quality of life for their birds.

Farmers are also marketers who listen and respond to new consumers' needs and wants.

____________________ is a term used to describe inexpensive designs that move quickly from catwalks to stores to address new trends and to satisfy constantly changing consumer wants. -Vintage Fashion -High Fashion -Fast Fashion -Slow Fashion -Designer Fashion

Fast Fashion

_________________________ is a term that marketers use to indicate inexpensive apparel designs that move quickly from catwalks to stores (websites). -Fashion trends -New fashion -Fast fashion -Fast trends

Fast Fashion

Which answer is not referenced in this module as a factor that contributes materially to successful NPD efforts? -Strategic planning -Financial budgeting -Managerial execution -Individual/organizational creativity -All of the above are mentioned

Financial budgeting

The marketing law known as "Category" explains that, to be successful: -Firms or brands should be first to market. -Firms or brands should be first in the category known as the mind. -Firms or brands should establish a category in which they can be first. -Firms or brands must adroitly manage the perceptions that key others develop. -Firms or brands should focus on earning success within a single category, because the person or firm that chases two rabbits catches neither.

Firms or brands should establish a category in which they can be first.

The Pareto Principle suggests that marketers should segments markets into ______________ group(s) based primarily on ________________. -Three; benefits sought. -Four; occasion. -Five; usage rates. -Two; gender -One; the universal problem that the marketing mix is designed to solve.

Five; usage rates.

Extreme differentiating and positioning value is associated with owning something; specifically, owning a word inside the mind of a targeted market segment. This principle, or law, is best described as the principle of: -Attributes -Category -Concentration -Focus -Leadership

Focus

Austrian-born Ernest Dichter, who like his mentor was a Freudian, is best-known for pioneering the process known as: -Data mining -Depth interviews -Focus groups -The Gestalt -Multidimensional scaling

Focus groups

Good marketing strategists: -Have the ability to focus on several core competences. The more core competences, the better. -Are wise and strategic enough to focus mostly on core competences that the market wants while exploiting as many core competences as possible. -Do not focus on core competences. They follow their customers' wants and needs. -Focus on developing and exploiting a narrow range - two or three at most - of core competences -None of the above.

Focus on developing and exploiting a narrow range - two or three at most - of core competences

The quote "When absolute superiority is not available produce a relative one at the decisive point by making skillful use of the resources you have" suggests firms should: -Focus, concentrate, on doing what they do best. -Keep their (metaphorical) heads on a swivel, always looking around, searching constantly, for the best opportunities. -Think big, always, by creating BHAGs (Big Hairy Audacious Goals). -Plan constantly, because while plans are nothing, the act of planning itself is everything. -Worry about doing something else altogether than what is written above.

Focus, concentrate, on doing what they do best.

A(n) ______________________________ is a factor or stimuli that motivates people to do something. -Advertisement -Promotion -Marketer -Incentive

Incentive

According to your book, rational people respond to _________. Your book also suggests that rational consumers often respond to the same _____ in _______ ways. -Incentives; Incentives; Different -Incentives; Incentives, Similar -Monetary values; Values, Different -Monetary values; Values, similar -None of the above

Incentives; Incentives; Different

Pricing can be used as a tool that ________________ customers. -Segments -Incentivizes -Entices -Targets -Tantalizes

Incentivizes

The infamous swastika sign originated inside which culture? -Nazi Germany -The former Yugoslavia -The old Soviet Union, along the hammer and sickle -Indian -Native American

Indian

If demand the for branded products hardly changes (either up or down) when the prices of those products have changed, then demand for those products should be described as: -Elastic -Flexible -Inelastic -Inflexible -Variable

Inelastic

Price elasticity measures how changes in their prices creates changes in demand for brands. Which elasticity condition creates the best opportunity for marketer to raise prices? -Elastic demand -Inelastic demand -Both types of demand -Neither elasticity condition

Inelastic demand

Many consumers continually rebuy the same brand but have little or no emotional commitment to the brand. This behavior represents a purchasing decision that is primarily based on: -Brand loyalty -Inertia -Brand preference -High involvement -None of the above

Inertia

Which step in the marketing research process develops strategic inferences? -Information identification -Information collection -Information analytical -Information reporting

Information analytical

Absent efficient ___________ supply chains cannot operate seamlessly. -Physical flows -Ownership flows -Information flows -Promotional flows -Financial flows

Information flows

Which basic supply chain flow is usually the most important? -Physical -Ownership -Informational -Promotional -Payment

Informational

The term (or phrase) called _____ refers to an overall process whereby inventions are transformed into commercialized and marketable products that can be sold profitably. -Invention -Function -Innovation -Formulation -Creative construction

Innovation

The term __________ refers to an overall process whereby inventions are transformed into commercialized and marketable products that can be sold profitably. -Invention -Innovation -Uniqueness -Formulation -Functionality

Innovation

A product can be described accurately as ________ when it delivers new value that is perceived as useful compared to the value delivered by existing products. -Innovative -Dynamic -Inventive -Competitively advantaged -Competitively disadvantaged

Innovative

Consumers often use reference prices when deciding whether to purchase a specific brand from: -Innovative product categories. -New product categories. -Old product categories. -Expensive product categories. -Familiar product categories.

Innovative product categories.

When marketers seek to make service brands appear more realistic to consumers, they managing the service characteristic known as ____. -Intangibility -Inseparability -Perishability. -Variability -Wishy-washy/ness

Intangibility

When professionals choose to routinely watch two newscasts that feature opposing (say, liberal versus conservative) views, they are pursuing what method for eliminating associative barriers? -Avoiding psychological traps -Learning from failure -Integrating multiple perspectives -Thinking inside their own minds -None of the above.

Integrating multiple perspectives

_______________operate as for-profit or not-for-profit organizations that facilitate, promote, or encourage B2B relationships between marketing organizations. -Trade Organizations -Intermediary Organizations -Charitable Organizations -Foundational/Institutional Organizations -Logistics Organizations

Intermediary Organizations

For-profit or not-for-profit organizations (including individuals such as agents) that play fundamental roles in facilitating, promoting, or encouraging B2B relationships between marketing organizations or B2C relationships between marketing organizations and end-use consumers are best described as: -Intermediary firms. -Vendor firms. -Source firms. -Retailer firms. -Supply firms.

Intermediary firms.

Were Sun Tzu a marketer, what type of knowledge would he suggest that strategists should gather before developing their marketing plans? -Knowledge about themselves, their customers, and their terrain (the marketplace) -Knowledge about themselves, their competitors (enemy), and their products -Knowledge about themselves, their competitors (enemy), and their terrain (marketplace) -Knowledge about their own value, their competitors (enemy), and their terrain (marketplace) -Knowledge about stakeholders, their competitors (enemy), and their terrain (marketplace)

Knowledge about themselves, their competitors (enemy), and their terrain (marketplace)

What of the following strategic terms (concepts) function to prevent problems? -Laws -Guidelines -Principles -Justice

Laws

Who said that Elvis Presley, the singer, was the greatest American sociocultural-consumption force during the twentieth century? -Leonard Bernstein -Elvis Presley -Heraclitus -David Bowie -John F. Kennedy

Leonard Bernstein

Which statement is least accurate? In contrast to products, services are: -Intangible -Produced at the point of consumption -Less variable in quality -Easily inventoried -Less likely to be produced in the contemporary US economy.

Less variable in quality

Which brand discovered that workplace productivity materially increased when professional workers could dress more casually, and then developed a brand designed to meet these new needs? -Unilever -Levi Strauss & Co. -Gap Inc. -Tommy Hilfiger Co. -Inditex

Levi Strauss & Co.

Consumers usually engage in one of three different types of problem-solving behavior. Those behaviors are ... -Limited, Unlimited, Routine ... problem-solving behaviors. -Limited, Extensive, Life changing ... problem-solving behaviors. -Temporary, Extensive, Routine ... problem-solving behaviors. -Limited, Extensive, Routine ... problem-solving behaviors. -Limited, Psychological, Routine ... problem-solving behaviors.

Limited, Extensive, Routine ... problem-solving behaviors.

What is an essential first step when marketers engage in the service failure recovery process? -Acknowledge -Listen -Thank -Explain

Listen

The most persuasive marketing stories usually involve narratives that "frame" customer or prospect choices as decisions that feature potential _________ rather than potential ___________ if decision-makers fail to make the "right" choice. -Gains/losses -Losses/gains -Opportunities/gains -Gains/opportunities

Losses/gains

Which type of segmentation approach focuses on the consumer group that is the most frequent purchasers or users of a brand? -Benefits-based -Occasion-based -Behavior-based -Loyalty-based

Loyalty-based

Which firm is the largest maker of eyeglasses frames in the world and is close to achieving complete vertical integration? -Oakley -Luxottica -Persol -Ray-Ban -Walmart

Luxottica

Which answer is not one of the six primary brand personalities? -Rugged -Exciting -Luxurious -Competent -Sincere

Luxurious

Opportunities for self-expression and social emulation routinely motivate consumers to purchase _____________________________ -Expensive products. -Luxury products. -Indulgent products. -Counterfeit products. -Discretionary products

Luxury products.

Which activity is not a key to marketing success? -Standing out rather than fitting in -Making fun and entertaining advertising -Making new-things-known and -old-things-appear-new -Developing and delivering new stuff.

Making fun and entertaining advertising

Who pushed and eventually pioneered the containerization idea inside global supply chains? -Malcom McLean -Keith Oliver -Tim Cook -Gary Lynch -Suman Sarkar

Malcom McLean

Which trait do professional managers generally seek from new hires? -Creativity -Critical thinking skills -Cognitive flexibility -Emotional Intelligence -Managers generally seek each trait

Managers generally seek each trait

The marketing activity known as __________ seeks to unify all modes of marketing communications - advertising, personal selling, sales promotions, social media management, public relations - in order to create unifying brand messages and positioning stories told consistently across all media channels used to convey marketing messages. -Marketing management -Brand management -Managing Integrated Marketing Communications (IMC) -Managing consumer behavior -"Managing advertising"

Managing Integrated Marketing Communications (IMC)

Which answer best describes the most basic and most important marketing practice? -Selling products -Managing processes, people, exchanges, and values -Making profits by selling ideas -Creating differentiating values

Managing processes, people, exchanges, and values

Which answer is NOT part of promotional management? -Issuing reminders -Conveying information -Delivering incentives -Attempting to persuade -Managing supply chain relationships

Managing supply chain relationships

A polymath is a person who is good at: -What else, mathematics; many different types. -Managing or developing many different scientific or technical ideas, at essentially the same time. -Many things. -Taking risks, and "hanging in there" even when they fail.

Many things.

When a company pursues new target segments by using existing products and the same marketing mix, they are following the ________ growth strategy. -Market Penetration -Market Development -Product Development -Diversification

Market Development

At times, marketers identify new market segments to pursue and do so by using existing products and the same marketing mix. The sales of Estee Lauder's premium priced cosmetics took off after the cosmetics marketer began selling them extensively throughout airports. This example illustrates a: -Diversification Growth Strategy -Market Development Growth Strategy -Market Penetration Growth Strategy -Product Development Growth Strategy

Market Development Growth Strategy

What expansion strategy involves identifying new market segments to pursue? -Market penetration -Market development -Product development -Diversification

Market development

What is the best way to understand marketing organizations and their problems, challenges and opportunities? -Marketers should be aware of the inner workings of the organization. -Marketers should step out of their own so-called "organizational boxes" and take a look at things from the outside? -Marketers should deeply analyze the data to understand the past. -Marketers should always focus only on the customers' problems and solutions to those problems.

Marketers should step out of their own so-called "organizational boxes" and take a look at things from the outside?

Why are marketers more likely to be the targets of ethical criticism? -Persuasive techniques themselves are often naturally unethical. -Marketers' transgressions are typically more visible than any other professionals working inside firms -Because marketing professionals actually are more likely to cheat -None of the above is a reason why ... -All of the above are reasons why ...

Marketers' transgressions are typically more visible than any other professionals working inside firms

The process of collecting and analyzing information to a specific marketing problem or opportunity facing a firm is known as: -Market Segmentation -Marketing Research -Market Positioning -Marketing Strategy

Marketing Research

Designs, brands, colors product shapes and spokespersons are all examples of _____________________: -Advertisements -Word of mouth -Marketing messages -Incentives

Marketing messages

Which key marketing tool do marketers use to create and distribute value to targeted segments? Marketing research Marketing analytics Marketing mix Marketing intelligence Marketing algorithm

Marketing mix

_____________ is a tool that firms manage with the intent of creating hopefully-differentiating value for the branded products they make and market. -Market share -Marketing concept -Market potential -Marketing mix -Market differences

Marketing mix

The ___________ is the primary tool that any organization can wield to create value. -Marketing mix. -Marketing concept. -Branding concept. -Supply chain management. -Strategic plan.

Marketing mix.

_________________________ is generally reflected in the existence of greater branding power and stronger brand equity. -Economics-of-scale -Barriers-of-entry -Acquiring competition -Marketing power

Marketing power

The word _______ describes sets of potential/actual purchasers and/or users of products who also can actually afford a product. -Targets -Segments -Consumers -Markets -None of the above.

Markets

A _________________ is the price added to a product to cover to cover the costs of overhead and secure profit. -Promotion -Markup -Margin -Cost -Value-add

Markup

The primary marketing consequence that has arose due to the environmental trend that American men are graduating from college at materially lower rates than American women is that: -Men are still making more money, on average, than women. -Marriage is experiencing an open retreat. -Women are decreasing their consumption of products and services. -Marriage and birth rates are increasing. -None of the above.

Marriage is experiencing an open retreat.

Who developed the hierarchy of needs? -Heinz -Gestalt -Maslow -Einstein -Earhart

Maslow

What tool best helps marketers understand how most consumers' needs and motives actually operate in the real world? -The social pyramid of needs and motives -The BCG matrix -The marketing mix -Maslow's hierarchy of needs pyramid -Pavlov's hierarchy of motives diagram.

Maslow's hierarchy of needs pyramid

Which type of basic marketing communication approach is rarely used these days? -Integrated -Targeted -Cohesive -Mass -Segmented

Mass

Marketers should evaluate several criteria in order to determine the attractiveness of market segments they have created. These criteria are: -Measurable, reliable, believable, differentiable, actionable -Measurable, comparable, substantial, differentiable, actionable -Measurable, accessible, substantial, differentiable-able, reliable -Measurable, accessible, substantial, differentiable-able, actionable -None of these criteria is appropriate

Measurable, accessible, substantial, differentiable-able, actionable

Powerful brand names should be ---------------------. -Funny -Sophisticated -Classy -Memorable -Simple

Memorable

What famous dead European/American male wrote (and is famous for having said) "the only constant is change." -Rock and roller David Bowie -Rock and roller Elvis Presley -Base-baller Babe Ruth -Basketballer Larry Bird -Philosopher Heraclitus (no, not Hercules)

Philosopher Heraclitus (no, not Hercules)

The Welsh phrase "better a fair face than a fair dowry" best-explains why: -Women will marry down, socially- or economically-speaking, based on the attractiveness of their prospective partners. -Men will marry down, socially- or economically-speaking, based on the attractiveness of their prospective partner. -Marriage rates are up inside the US. -Marriage rates are down inside the US. -The power and beauty youth fades, whereas the power and "beauty" of green (cash, money) only grows across time.

Men will marry down, socially- or economically-speaking, based on the attractiveness of their prospective partner.

___________________ activities include the management of in-store display techniques, shelf-talking, spot demonstrations, personal selling in general, and other point-of-sale methods. -Retailing -Sales promotion -Personal selling -Merchandising -Public relations

Merchandising

Which type of market targeting approach treats each of a small number of customers (perhaps only one customer) as unique and then creates a highly focused marketing mix aimed at satisfying those unique needs. -Undifferentiated -Differentiated -Concentrated -Micro-targeting -Mass

Micro-targeting

Which statement or word is not a critical component of most successful NPD efforts? -Preparation -Hard Work -Failure -Capacity to remain creative -Money

Money

_________________, by definition, are the only or the overwhelmingly-dominant competitor marketing inside monopoly market. ---------- enjoy extreme pricing power and can generally maintain this power so long as they do not price at exploitative levels. Price exploitatively, and government regulators step in and either impose price ceilings or break out the monopoly. -Monopolies (Monopolists) -Pure Competition -Oligopolists (Oligopolists) -None of the prior answers are correct.

Monopolies (Monopolists)

Price skimming is a(n) ___________ marketing tactic. -Illegal -Unethical -Moral -An ineffective

Moral

Most Americans constantly pursue happiness. Many marketers leverage this fact to their advantage because of the common misconception, one that is shared among many people, that happiness results from having: Most Americans constantly pursue happiness. Many marketers leverage this fact to their advantage because of the common misconception, one that is shared among many people, that happiness results from having: -Moral purpose in one's life. -Dignity and self-control in one's life. -Deep personal relationships in one's life. -Something to do, someone to love, and something to look forward to in one's life. -More luxury items in one life

More luxury items in one life

The word obese is generally used to describe people who are dangerously (for their own health) overweight. Growing obesity is definitely an American environmental trend. According to the book, ___ of Americans are obese. -More than 1/3 -More than 40% -More than 50& -Just less than 1/3 -Almost exactly 25%

More than 1/3

Opinion leadership derives much of its power from the fact that: -Most consumers are actually followers, "watching" to see/hear what someone else does, recommends, or says. -Consumers rarely think for themselves. -Consumers disavow the knowledge that opinion leaders possess. -Known brands are more trusted than opinion leaders themselves. -True viral marketing is more a pipedream than a reality.

Most consumers are actually followers, "watching" to see/hear what someone else does, recommends, or says.

Prospect theory uses complicated analytics to explain a simple, nearly-universal principle that governs and motivates human decision-making. The principle suggests that: -People are greedy and selfish by nature. -Morality is a key trait for survival for most people, but morality has different meanings for different people. -Most people are more afraid of change than survival. -Most people hate/fear losing more than they love/crave winning. -None of the above.

Most people hate/fear losing more than they love/crave winning.

Learning arises from a four-way interaction between (1) consumers'__________; (2) __________ (might include marketing cues) to which they are exposed and attend; (3) consumers' responses to the stimuli; and (4) the rewards or punishments (positive or negative reinforcements) resulting from their behavioral responses. -Motives; stimuli -Responses; motives

Motives; stimuli

Dearborn, Michigan has the highest percentage of Muslims of any large mid-sized city inside the U.S. because: -People from the Middle East love Michigan's cold weather climate. -Mr. Ford specifically targeted people from the Middle East to come work for him. -The Walmart in Dearborn sells fresh dates. -Mr. Ford was welcoming to all people working in his factories. -People who originally were from the Middle East ended up in Dearborn completely by accident.

Mr. Ford specifically targeted people from the Middle East to come work for him.

The "differentiated" target marketing approach is the one where the firm targets: -A precisely defined market segment with a precisely tailored marketing mix; one for one. -Multiple segments with the same marketing mix (i.e., multiple segments, a single mix). -Multiple segments with multiple marketing mixes, one marketing mix for each segment targeted. -Targets only one segment, but with multiple marketing mixes. -Targets only target one segment, very narrowly (a niching approach), with one marketing mix.

Multiple segments with multiple marketing mixes, one marketing mix for each segment targeted.

Which statement is most true about laws and regulations? -Laws and regulations influence customer behavior. -Laws and regulations influence how marketers treat customers. -Laws and regulations influence competitive practices. -All of the above are true. -Only answers B and C are true.

NOT Laws and regulations influence customer behavior.

____________involve secret agreements or unspoken acts of cooperation between competing firms and usually result in higher final prices for customers. -Collusion practices -Anti-competitive practices -Dumping practices -Greenwashing practices -Pinkwashing practices

NOT Anti-competitive practices

Why do people choose one rather than another alternative in situations where decision-makers possess the power, resources, and opportunity to choose any alternative they want? -People choose whichever option they perceive will deliver the most value. -People choose whichever option delivers the greatest perceived differences between what they have and what they want. -Both A & B are correct. -Neither A nor B is correct.

NOT Both A & B are correct.

The name used to describe the psychological defense mechanism through which decision-makers unconsciously frame ideas, alternatives, and choices in all or nothing terms is: -Denial. -Humor. -Splitting. -Rationalization. -Identification.

NOT Denial

Tylenol's tamper proof packaging, introduced after the product tampering disaster, was a _____________ at the time. -Success -Failure -Disaster -Innovation -Necessity

NOT Failure

Which of the following questions best illustrates "Thinking Inside Out?" -What customer needs does our organization satisfy now? -What customer needs does our competition satisfy? -What is our company marketing strategy? -What is the competitions differentiation strategy? -How do we get customers to try our product?

NOT How do we get customers to try our product?

The economist John Maynard Keynes once said "in the long-run, we'll all be dead". What does this quote mean? -If economists understood marketing, they would not be economists. -Humans cannot escape their own mortality. -Planners should not focus on planning for "too-long" a "long-run". -Planners should only focus on the short-run.

NOT Humans cannot escape their own mortality.

The arrival of crises often offer great opportunities for marketing strategists to not only plan for change but to actually _________. -Initiate differences -Follow through on goals -Initiate changes -Move forward -Look backward

NOT Initiate differences

The following marketing practices each can harm other companies and reduce competition except for: -Acquiring competitors -Creating barriers-to-entry -Innovative product development -Creating extreme marketing power -All of the above can harm competitors and reduce competition

NOT Innovative product development

Questions about what features and attributes, and thus which benefits associated with existing products should be changed, added, deleted, and in what ways, are: -Customer relationship management and NPD research questions. -Brand management and positioning questions. -Supply chain and positioning questions. -NPD and positioning questions. -None of the above is correct.

NPD and positioning questions.

Their ability to effectively execute _____________ and _____________ initiatives successfully allows marketers to raise and maintain higher prices. -Positioning; segmentation -Signaling; targeting -NPD; branding -Positioning; branding -Segmentation; target-selection

NPD; branding

_________________ information is more contagious than __________________ information. -Negative; positive -Happy; sad -Positive; negative -Sad; happy -Joyful; threatening

Negative; positive

Innovations are best described as something that is: -New but not necessarily useful -New and useful -Authentic and useful -Easy to use and cheap -Useful and easy to use

New and useful

Push promotional strategies are usually more useful than pull promotional strategies when marketers are attempt to sell _______________. -Older products that aren't selling well -Their organization's most popular products -New products that are usually relatively unknown -Products that are still being developed

New products that are usually relatively unknown

Inside marketing practice, technology has pretty much changed everything, including how customers connect with each other; how marketers connect with customers; how customers connect with marketers; how firms collect information from customers; and how organizations deliver products and services to customers. Are any of the phrases false? -Yes, one of these "how" statements is wrong. -No, each "how" statement is true.

No, each "how" statement is true.

_____________________ often drives parents and grandparents to buy and give certain types of toys. -Price -Quality -Promotion -Nostalgia -Attitudinal

Nostalgia

Which product has become a flashpoint in trade negotiations making it somewhat risky for marketers participating in international trade? -Chicken -Beef -Pork -Turkey

Not Beef

What is the core difference between tangible products and intangible products? -Tangible products are products and intangible products are services -Tangible products can feature intangible service dimensions. -Tangible products solve wants while intangible products solve needs -Both A and B -Both B and C

Not Both A and B

Which answer best explains how marketers can succeed? -Successful marketers stand-out rather than fit-it. -Successful marketers are motivated to develop new products. -Successful marketers are able to make new things known and old things appear new. -Only A and C. -The first three answers all explain how marketers can succeed.

Not The first three answers all explain how marketers can succeed. Probably Only A and C

The word "Donuts" no longer part of Dunkin's brand name because: -Of growing cultural concerns about too much fat and too many calories. -Studies have shown that people prefer coffee more than pastries such as donuts. -The original brand name, Dunkin Donuts, confused too many consumers; making them think that the store was more about donuts than it was than about coffee. -Once Starbucks simplified its brand name Dunkin Donuts reasoned it had choice but to simplify, as well. -None of these choices is correct

Of growing cultural concerns about too much fat and too many calories.

Which answer best describes how consumers normally respond as they are exposed to controllable marketing stimuli such as the marketing mix? -Offering more choices to consumers usually leads to more sales. -Offering more choices to consumers usually leads to fewer sales. -Consumers always like to have more choices. -Consumers will buy more when there have more choices available to them.

Offering more choices to consumers usually leads to fewer sales.

______________ feature only a few large and usually dominant competitors. Meanwhile, customers who purchase goods or service inside this type of market are often quite price-sensitive. -Oligopolistic markets -Monopolistic competition markets -Pure competition markets -Monopoly markets -Socialist (or communist) markets

Oligopolistic markets

The marketing practice known as "Dumping" occurs when: -One firm sells its undesirable products to the competition and do so at a loss. -One firm sells undesirable products to the competition at cost. -One firm prices its products at level that are equivalent to those products' actual costs. -One firm lowers its products' price to the point where they are slightly lower than their competitors' prices. -One firm prices its products below their actual costs in order to injure competitors.

One firm prices its products below their actual costs in order to injure competitors.

Applebee's pursues customers who want healthy foods, those who want fun and tasty foods, and those who are seeking a reasonably priced meal. How many marketing mixes does Applebee's need to prepare to satisfy the needs of these target segments? -One overall marketing mix -One marketing mix per target segment (3 in total) -Multiple mixes for each segment (more than 3) -Applebee's does not need to prepare any marketing mixes

One marketing mix per target segment (3 in total)

There are two basic types of reference groups. Identify those two groups from the list that follows. -Family and membership groups -Social and psychological groups -Opinion leaders and aspirational reference groups -Traditional and innovative reference groups -Voluntary and involuntary reference groups.

Opinion leaders and aspirational reference groups

"Social media influencers" can also be described as: -Opinion leaders. -Preference groups. -Social influencers. -Fashion leaders. -Fast followers.

Opinion leaders.

Being __________ means identifying opportunities before anyone else does while also being willing and able to strike first by delivering differentiating value after opportunities have been discovered. -Strategic -Bold -Creative -Opportunistic -Assertive, as in aggressive

Opportunistic

In which logistical function will it prove most important to ensure that nothing goes wrong as relationships with end-use customers are managed? -Storage -Negotiating -Order processing -Shipping -Distribution

Order processing

The __________ of marketers derives from the fact that everything marketers say is directly or indirectly said for the money. And from the fact that B2C or B2B customers widely recognize this condition, at least implicitly. -The unethical reputation -Power -Original sin -Ultimate success -Lasting value

Original sin

___________________ does not necessarily need to change hands as raw materials, key components or finished good flow downstream through each level inside the supply chain. -Information -Ownership -Money -Communication -Market intelligence

Ownership

When applied in marketing settings, the 80-20 Rule usually accurately suggests that [approximately] 80% of profits emanate from (about) 20% of customers; that about 80% of product sales originate from about 20% of products present in a product line (marketing organizations generally sell multiple products); that about 80% of sales are generated by about 20% of advertising, and so forth. The 80-20 Rule is also known as the: -Peter Principle -Pareto Principle -Placebo Principle -Prince/Princess Principle -Usage-based Targeting Principle

Pareto Principle

Planning processes should include a careful examination of the: -Past and present. -Past, present, and future. -Past and future. -Present and future. -None of the above.

Past, present, and future.

Since the 1960s the National Football League has staked a large portion of its brand personality and brand position on: -Patriotism. -Building community (as in Cheese Heads). -Cooperation. -Rivalries. -None of the above.

Patriotism.

Inside the United States which of the following marketing sectors or brands features the most locations? -McDonald's -Starbucks -Payday lenders -Costco -Walgreens.

Payday lenders

Which of the following elements is not an ingredient for the classic product-related marketing mix? -Product -People -Place -Price -Promotion

People

What are the three additional Ps that services marketers should manage beyond the traditional 4Ps inside the marketing mix for products? -Production, Planning, and People. -Processes, Production, and Planning -Perceptions, Physical surroundings, and People -Production, Perceptions, and Planning -People, Processes, and Physical surroundings.

People, Processes, and Physical surroundings.

What step in consumers' decision-making processes is the most important? -Perceiving a situation accurately -Deliberating possible and logical options -Determining the best solution -Deciding which avenue to pursue

Perceiving a situation accurately

Maslow's hierarchy of needs features five stages. Which answer does not belong among those five stages? -Safely needs -Personal needs -Self-esteem needs -Physiological needs -Social needs

Personal needs

The _____________________ mix consists primarily of some combination of advertising, personal selling, public relations, sales promotions and direct marketing. -Marketing -Promotional -Advertising -Incentives -Communication

Promotional

The elements called advertising, personal selling, public relations, and sales promotions collectively make-up, or constitute, the __________. -Marketing Mix -Promotional Mix -Service Marketing Mix -Product Marketing Mix -Nature of Marketing Mix

Promotional Mix

The underlying premise of __________ is that consumers, and everyone else, usually hate losing more than they love winning. -Risk theory -Prospect theory -Classical conditioning -Operant conditioning -Negative framing theory.

Prospect theory

The concept known as ______________________________ is the primary reason why two-thirds of prices end with a 9. -Economics-based pricing -Psychological pricing -Targeted pricing -Signaling pricing -EOS (Economies of Scale) Pricing

Psychological pricing

The use of __________ /are especially effective at spreading good news to targeted others. -Gossip -Word of Mouth -Public relations -Sales promotions -Advertising

Public relations

______________________ entails advertising appeals that contain material featuring clearly over-embellished or boastful claims about brands which no reasonable person would presume to be literally true. -Believability -Distinctiveness -Puffery -Trustworthiness -Viral-exaggerations

Puffery

The goal of ______________ promotional strategies is to persuade or incentivize customers to come (move) toward the marketer or brand. -Push -Reminder -Pull -Persuade -Informative

Pull

In markets that feature _________________ competition no single firm has the absolute size or power to influence price levels. -Oligopolistic -Monopolistic -Pure -Monopolistically competitive -Capitalist-based

Pure

Absent the presence of this leveraging tool marketers will surely fail, but the tool usually no longer functions as a winning point of differentiation on its own. -Style -Design -Service -Experience -Quality

Quality

Product ____________ is directly proportional to product ________________. -Quality, efficiency -Newness, quality -Quality, innovativeness -Form, quality -Price, value

Quality, efficiency

___________________ reference the sort of information that passes back and forth, in each direction, between partnering supply chain organizations. -Logistical processes -Reciprocal flows -Supply chain processes -Information flows

Reciprocal flows

What is the name of the group that consumers consciously look toward in order to secure insights and implicit/explicit recommendations regarding what they should or should not choose to consume? -Cultural groups -Reference groups -Social groups -Family groups

Reference groups

Promoting a product as costing less than your daily cup of Starbucks coffee (across one year) makes the daunting price of $1099.99 for a Maytag clothes dryer appear more palatable. This tactic illustrates the principle of _______________ prices. -Repositioning -Reframing -Adjusting -Anchoring -Predatory

Reframing

________ information is free of systematic error. -Reliable -Correlated -Valid -Discriminant

Reliable

__________ (marketing research) information is collected from questions (measurements) that are free from systematic or statistical error. An absence of systematic error implies that the respondents (i.e., the sampled people) who answer questions actually understand what the questions were asking. -Valid -Reliable

Reliable

The ___________________________ regulates humanity's vital, naturally arising needs. -Limbic brain -Neocortex brain -Reptilian brain -Amphibious brain -Frontal cortex

Reptilian brain

Similar to nuclear weapons, ______ exist(s) and operate(s) as power cards that almost certainly prove more effective (more powerful) when held in your hand rather than played. -Money -Reputations -Leadership -Motivation -IQ.

Reputations

____________________ is important because the insights that the process provides allows marketers to more accurately predict future human behaviors. -Promotion -Competition -Research -Planning

Research

The word _____________, when applied to new ideas, means that the idea would speak directly to someone. -Credible -Resonate -Empathic -Complexity -None of the above

Resonate

The Aldi grocery store chain charges customers a quarter deposit that is refunded when those customers return their carts. This practice is known as: -Common sense -Reverse-incentivizing -Reverse-strategy -Quarter-keeper strategy -None of the above

Reverse-incentivizing

The smallest business unit within any firm for which independent planning can be done and independent resources exist is called a: -SUV -SCA -SBU -The 5th P. -STP

SBU

The word---------- suggests that unpleasant or unwelcome experiences sometimes actually generate beneficial longer-term effects. ---------- products are characterized by low immediate appeal (failing to deliver much short-term satisfaction) while featuring high potential for benefitting customers longer-run. -Deficit -Desirable -Pleasing -Salutatory

Salutatory

Which geographic location represents better physical place to market bicycles and/or bike repair shops? -Toledo, OH -Santa Barbara, CA -Denton, TX -There is no way to know based on information provided in the text.

Santa Barbara, CA

Consumers experience different types of feelings and/or emotions after making their purchases. The most basic post-purchase consumer feelings or emotions are either: -Satisfaction or Dissatisfaction. -Satisfaction, Dissatisfaction, or Uncertainty. -Satisfaction, Dissatisfaction, or Delight. -Satisfaction or Delight. -None of the above

Satisfaction, Dissatisfaction, or Delight.

The discussion about Martin Luther King and the civil rights movement illustrates how and why strategists are often better off when they: -Conduct a SWOT analysis before developing a mission statement and only then develop goals. -Develop and pursue up to ten or twelve key goals at the same time. -Essentially ignore their surrounding environments. -Pursue environmental opportunities while completely ignoring threats. -Scan their environments continuously, identify opportunity, and only then establish goals.

Scan their environments continuously, identify opportunity, and only then establish goals.

What is the first thing that marketers should either do or achieve before attempting to create a "brand name" for a new product? -Compile a large number of possible names. -Use crowd sourcing-types of marketing research in order to develop creative naming suggestions. -Seccure a full understanding of the product and its purposes. -Test out possible names in the market through marketing research. -Cross-reference potential names through database analysis to avoid encroaching upon already existing names.

Seccure a full understanding of the product and its purposes.

Which statement is true about secondary data? -Secondary data is more expensive to collect than primary data. -Secondary data is harder to obtain than primary data. -Secondary data is less expensive to collect than primary data. -Secondary data takes more time to collect than primary data. -All these statements are true.

Secondary data is less expensive to collect than primary data.

Marketers use _____ to group together individuals or organizations based on various characteristics that they share. -Targeting -Separation -Positioning -The product portfolio planning matrix -Segmentation

Segmentation

When they evaluate the attractiveness of similar smaller groups existing inside much larger markets, marketers are examining: -Sub-markets -Segments -Collections -Sections

Segments

Is the NFL (the National Football League) primarily a service or a product? -Service -Product

Service

In which type of market is brand loyalty influenced more by customers' experience than by advertising and other promotional efforts? -Fashion markets -Service markets -Automotive markets -Luxury brands markets -Convenience goods markets

Service markets

The development and delivery of---------- involves applying specialized competencies and performing deeds and processes for purposes of benefiting others that also profit the marketer. Benefitting others generally means customers' problems are solved (i.e., their needs are satisfied). There is one absolutely best answer, because the initial statement always defines this specific word. -Products -Promotions -Services -Ideas and NPD output

Services

Skimming-the-cream-pricing is a strategy that introduces a new or innovative product by: -Setting the price 10 percent below its nearest competitor. -Determining if the product is supply inelastic. -Creating a product image that appeals to fiscally-conservative consumers. -Setting a high initial price. -Setting a low initial price.

Setting a high initial price.

Which statement best explains why bad news almost always receives more attention than good news? 1-Bad news usually arrives more suddenly while good news generally emerges more slowly, making bad news more exciting/interesting. 2-Humans find it easier to envision situations where things might quickly get worse than might quickly get better. 3-Bad news usually means more money is at stake. 4-Bad news usually matters more to humanity because may actually prove dangerous. 5-Consumers usually think in absolute not relative terms. -Statements 1, 2, and 5 -Statements 1, 3, and 4 -Statements 2, 3, and 5 -Statements 1, 2, and 4 -Statements 2, 4, and 5

Statements 1, 2, and 4

Which statements capture primary reasons why the use of sales promotions has increased so radically during the past few decades. 1-Sales promotions produce results now. 2-Sales promotions are main reason for stagnating competition. 3-Most advertising does not work that effectively anymore. 4-Customers and their attitudes have changed. 5-Sales promotions are the most cost-effective marketing-discounting option. -Statements 1, 2, 3 -Statements 1, 2, 4 -Statements 1, 3, 5 -Statements 1, 3, 4 -Statements 2, 3, 4

Statements 1, 3, 4

Which statement (or statements) best describes a primary outcome that prove crucial to most marketing successes? 1-Building appealingly differentiated brands. 2-Pricing brands at lower points than their competitors. 3-Delivering brands to well-targeted market segments. 4-Having brand names that stick inside consumer minds. 5-Centering marketing strategies around popular influencers. -Statements 1 and 2 -Statements 1, 3, and 4 -Statements 3 and 4 -Statements 3, 4, and 5 -All five statements.

Statements 1, 3, and 4

Which statement(s) is(are) true about brand storytelling? 1-Brands are what marketers say they are. 2-Brands are what the customers say they are. 3-Marketers should try to define and position their brand with compelling stories. 4-Compelling brand stories must be started by the customers. -Statements 1 and 3 -Statements 1 and 4 -Statements 2 and 3 -Statements 2 and 4 -Statements 1, 2, and 3

Statements 2 and 3

Statement A: Many products feature a substantial service—or intangible—component. Statement B: Many services feature a substantial product—or tangible—component. -Statements A and B are each false. -Statements A and B are each true. -Statement A is true; statement B is false. -Statement A is false; statement B is true.

Statements A and B are each true.

________________________ allow large amounts of data to be compressed into a few meaningful numbers. -Marketing research analytics -Marketing experiments -Statistical analysis -Statistical platforms

Statistical analysis

The phrase "Luck is where opportunity and preparation meet" is identified as a key factor in what strategic planning lesson? -Strategic Planning Lesson 10 -Strategic Planning Lesson 7 -Strategic Planning Lesson 9 -Strategic Planning Lesson 2 -Strategic Planning Lesson 5

Strategic Planning Lesson 9

___________________ describes the entire package of product characteristics or features that directly or indirectly communicate anything about a branded product. -Features -Style -Design -Quality -Experience

Style

What automobile marketer incidentally discovered, through marketing research, that one of its brands was extremely popular among the lesbian market segment? -Subaru -Volvo -Chrysler -Hyundai -None of the above

Subaru

________________________ effects can be described as people's whims, desires and fears that operate and influence people while operating below the threshold of human awareness. -Motivational -Perceptual -Subliminal -Psychoanalytic -Instinctual

Subliminal

The best way for firms to be socially responsible and more ethical is to _____________. -Succeed as marketers by honoring the marketing concept -Satisfy customers through any means necessary -Concentrate intensely on winning against their competition (i.e. who you hate can make you great) -Follow the law -None of the above

Succeed as marketers by honoring the marketing concept

The "Concept Test" is most closely affiliated with developing: -Effective advertising messages; this is the source of Big Ideas. -Successful new products; the test weeds out good ideas from bad. -Successful marketing strategies; this is where effective differentiating is born. -Successful positioning; because this is how effective positions are identified.

Successful new products; the test weeds out good ideas from bad.

What is the biggest problem associated with using the product life cycle concept as a tool to guide marketing mix decision-making? -Successfully introducing new products into the market. -Successfully gaining and maintaining profit share. -Successfully developing new products to replace declining products. -Successfully determining which stage of product is in the life cycle. -Successfully minimizing the organization's sunk costs and/or switching costs.

Successfully determining which stage of product is in the life cycle.

Placing barcodes on multiple sides of products and not bagging groceries are examples of ____________________ which allow Aldi to maximize efficiency. -Minor inconveniences imposed upon their customers -Supply chain innovations -Productivity upgrades -Design details -Reverse incentives

Supply chain innovations

The process known as __________involves planning, implementing, and controlling the flow and storage of products, services, and related information from the point of origin to the point of consumption, with the end goal of satisfying customer needs -Transportation -Inbound logistics -Supply chain management -Marketing channel -None of the above

Supply chain management

______________, defined, include upstream (i.e., toward the originating sources of any products, such as cotton fields or dirt) and downstream (i.e., toward retailers and final customers) business partners for all marketing organizations. Choose the best and most contemporary choice from the items listed below. -Marketing channels -Distribution channels -Supply chains -Intermediaries -Middle-men

Supply chains

The core element inside any advertising message that also drives the message is typically described as the: -Sustainable competitive advantage (SCA). -The unique selling proposition (USP). -The big-idea. -The point-of-difference (POD).

The big-idea.

Which brand would win (prevail) in a competition among brands A, B, or C? -The brand that sells at the lowest price -The brand that provides the best quality product -The brand that delivers the most value -The brand that makes a profit

The brand that delivers the most value

What value that is created through efficient supply chain management makes the right products available to the right customers at the right time? -The provision of seamless streams -The bridging of time gaps -The ability to concentrate and focus -Increases in efficiency -None of the above

The bridging of time gaps

Two conditions must be present in order for a product (brand) difference (in a branded product) to be determinant. The two conditions are: -The difference must simultaneously be tangible and intangible in nature. -The difference must be real (genuine) and the difference must be important to customers as they make decisions. -The difference must be easily visible and easily communicable. -The difference must "save customers money" and "make the product work better." -None of these answers is correct.

The difference must be real (genuine) and the difference must be important to customers as they make decisions.

Supply chains and their management are indispensable for high-tech products. However, for low-tech products, such as pencils, the role that supply chains play is not as vital. -Both statements are true. -Both statements are false. -The first statement is true; the second statement is false. -The first statement is false; the second statement is true.

The first statement is true; the second statement is false.

Wants are: -Unrecognized problems. -Unresolved problems that people or firms experience at different points in their lives. -States of felt deprivation; also known as great gaping "holes" in their lives that humans frequently experience. -The form that needs take as they are influenced by culture and individual personality. -Not something that marketers can "create" inside customers' (consumers') minds.

The form that needs take as they are influenced by culture and individual personality.

What was economist Milton Friedman referencing when he said: "If the U.S. were in charge of the Sahara Desert the nation would quickly run out of sand"? -The governments poor talent management -The governments poor sand management -The governments poor treasure management -The governments poor time management

The governments poor treasure management

Two students, Jeff Spicoli and "The Dude," were studying for an exam in their marketing course. While studying the supply chain Module, "The Dude" made the following statement: "If it weren't for wholesalers and other supply chain intermediaries, the products we buy would cost a lot less!" After contemplating The Dude's words, Spicoli replied, "Wait a minute. We learned that supply chain intermediaries actually provide different types of utilities for customers that producers and retailers either cannot or do not want to perform for themselves." The Dude's statement refers to: -The highly specialized value that can be created by intermediaries. -Channel intermediary development. -Price inflation by channel intermediaries. -Channel intermediary promotional efforts.

The highly specialized value that can be created by intermediaries.

Experts frequently criticize marketers for creating false needs and too much materialism in the United States. Is this criticism generally valid? -Yes -No -The jury is out, this one of those gray issues -Not really, because consumers do a fine job creating false needs all by themselves. Marketers basically just give people what they ask for.

The jury is out, this one of those gray issues

In 2016 Wells Fargo was fined about $185 million because the bank had created around 1,534,280 unauthorized deposit accounts and 565,433 credit-card accounts during the previous five years. After the scandal, in 2018, the bank released a new integrated marketing campaign called "re-established" to emphasize the company's commitment to trust. Which marketing law best explains Wells Fargo's reaction? -The law of attributes. -The law of perception. -The law of candor. -The law of unpredictability. -The law of attention.

The law of candor.

Penetration pricing strategies are intended to appeal to what type of market? -Highly selective quality-seeking consumers -Price-insensitive markets -The mass market -Specialty goods markets -The same markets as skimming pricing

The mass market

Every firm must make its plans and execute its decisions in light of what is happening in its micro- and macro-environment. You knew this. You should also know that: -The micro-environment exists inside the firm, the macro-environment exists outside the firm. -The micro-environment exists outside the firm, the macro-environment exists inside the firm. -Micro-environmental factors can be controlled by the firm, while macro-environmental factors cannot be controlled. -Micro-environmental factors cannot be controlled by the firm, while macro-environmental factors are controllable. -Statements a, b, c, & d are each absolutely crazy wrong—what the heck?

The micro-environment exists inside the firm, the macro-environment exists outside the firm.

Which party typically possesses the most power inside supply chain relationships? -Intermediary parties. -Manufacturers. -Retailers. -The party who wants the relationship less. -The party who wants the relationship more.

The party who wants the relationship less.

Which analysis (test) provides useful insights about how changes in pricing strategies will impact demand for individual brands or branded product lines? -Test market analysis -Test prices analysis -The supply and demand test -The price elasticity test -The Supply elasticity test

The price elasticity test

__________ is conducted to determine whether the prototypical product, as it will be developed, will actually satisfy the customer's want or need (solve the problem) that it was intended to satisfy (solve). -The concept test -The product use test -The market test

The product use test

Which word or phrase is not one of the three main motives for consumers (as referenced in your book)? -Fear -The pursuit of pain -Greed -Love

The pursuit of pain

When consumers buy products to be more or less like a celebrity what factor has primarily driven their decisions and behaviors? -The pursuit of social status -A manifestation of brand loyalty -The ever-present culture -The pursuit of emotional wellbeing -The effects of prejudgments

The pursuit of social status

The broadest definition of price is: -The amount of money charged for a product or service. -The sum of all values that customers must give up to obtain the benefits associated with a product or service. -The amount of value customers willingly pay to obtain the benefits associated with a product or service. -The amount of money expected or required to be paid to obtain the benefits associated with a product or service. -None of these responses represent the broadest definition offered in this module

The sum of all values that customers must give up to obtain the benefits associated with a product or service.

Who said that "knowing what is right doesn't mean much unless we do what is right"? -Abraham Lincoln -Machiavelli -Theodore Roosevelt -Wayne Rebhorn -Barrack Obama

Theodore Roosevelt

Innovations must deliver practical or perceptual value that benefits someone; in turn that someone must be willing to give up something of value in order to obtain or use the innovation. For new products to be described as innovations they also must be useful. There are more inventions than innovations. -These statements are all true. -These statements are all false.

These statements are all true.

Which statement does not describe an attribute that is usually associated with creative professionals? -They are typically young -They excel at problem solving -They are better at recognizing obscure relationships -They are better at establishing associations and connections between ideas -They typically work much harder than average professionals

They are typically young

What do marketers of cosmetics market? -They do not market anything. -They only sell cosmetics -They only market cosmetics -They market beauty through cosmetics -They market cosmetics through beauty -None of the above

They market beauty through cosmetics

Is the following environmental threat or opportunity to U.S. funeral home marketers? The cultural and social trend that clearly suggests cremation is becoming more acceptable to families. -Opportunity -Threat

Threat

How many times does the average recipient need to be exposed to an advertising story before those recipients can be expected to recall or understand new message content? -One -Three -Five -Nine

Three

How many brands typically reside inside consumers' evoked sets? -One to three -Two to four -Three to five -Four to six

Three to five

The "3T's" are: -Taste, Target, Time -Time, Talent, Treasure -Target, Tangible, Technical -Trade, Transaction, Transparency -Trend, Trust, Turnkey

Time, Talent, Treasure

What is the primary reason why marketers should engage in market segmentation and target marketing? -To create and deliver specific products and services to heterogeneous markets which have diverse needs and wants. -To deliver specifically-designed marketing mixes that are precisely customized and positioned to satisfy the needs of select customers. -To develop their creative-thinking and deliver innovative products for creative customers. -Marketers should only rarely engage incur in market segmentation and target marketing because the correct approach entails creating broader marketing mixes that appeal to larger groups of customers. -Marketers engage in target marketing but not in market segmentation because it is best to customize marketing mixes for targeted segments and then communicate the values to everyone.

To deliver specifically-designed marketing mixes that are precisely customized and positioned to satisfy the needs of select customers.

Why would marketers "under-promise and over-deliver"? -To increase profit margin by raising expectations -To increase customer satisfaction by lowering expectations -To balance the gap between value and customer expectations -To make as many people as happy as possible

To increase customer satisfaction by lowering expectations

Successful strategic processes often require planners to look backward toward the past. Why is this activity important? -To provide marketing professionals with contemplative looks into what processes were successful and those process that were not successful in order to guide future decisions. -To precisely determine the exact nature and scope and identity of one's competition and to determine how to more effectively defeat them. -To allow marketing professionals to always the past into the future. -To guarantee that the future will be better than the past, as Mayor Pete is wont to say. -None of the above is true.

To provide marketing professionals with contemplative looks into what processes were successful and those process that were not successful in order to guide future decisions.

Why do supply chain partners usually benefit from trying to avoid winning-too-big? -To eliminate excessive competition between partners -To reduce the amount of conflict within the relationship -To allow both partners to feel they are winning -To make the relationship feel acceptable -To ensure slower but steadier growth in their share prices and market yields

To reduce the amount of conflict within the relationship

What is the purpose of de-marketing? -To reduce the consumption of harmful products. -To promote economic equilibrium. -To diminish the consumption of competitors products. -To infuse viewers with the fear of God.

To reduce the consumption of harmful products.

The reptilian brain is one of the three human brains. What is the function of human reptilian brain? -To govern emotions and judgments. -To regulate humanity's vital functions, naturally arising needs and primitive behavioral responses. -To regulate learning, imagination, language, and perceptual attributions. -To canalize emotions from the limbic system into the prefrontal cortex synapses. -None of the above.

To regulate humanity's vital functions, naturally arising needs and primitive behavioral responses.

Which statement best summarizes what happens when uncertainty prevails? -When uncertainty prevails, planners still know all the possible outcomes. -When uncertainty prevails, planners don't know all the possible outcomes. -When uncertainty prevails, planners still know all the possible outcomes but they do not know the probabilities of those outcomes. -When uncertainty prevails, planners don't know all the possible outcomes nor do they know the probabilities of those unknown outcomes arising. -None of the above

When uncertainty prevails, planners don't know all the possible outcomes nor do they know the probabilities of those unknown outcomes arising.

Who first asked the question: Is the world too small for anything but the truth? -Albert Einstein -William Sloan Coffin -Neil deGrasse Tyson -Ayd Rand -None of the above

William Sloan Coffin

_________________________ unfolds as oral or written communication that marketers can influence but not control and exercises strong positive/negative influences on prospective or actual customers. -Cognitive dissonance -Reinforcing activities -Buyer's remorse -Word-of-Mouth -Print-based or radio-based advertising

Word-of-Mouth

Supposedly, two great truths prevail inside marketing. First, the most precious resource in today's noisy, crowded markets is customers' attention. Second, consumers don't just seek utility (usefulness, or pure problem-solving ability) from products they buy; consumers often also seek meaning. Are both statements true? -Yes -No -The first supposed truth actually is true; the second "truth" is not.

Yes

Careful planning is important. But can marketers over-plan? -Yes, over-analysis has led to paralysis -No, rarely if ever does the time arrive to "just go for it!"

Yes, over-analysis has led to paralysis

According to experts, what three factors contribute most to the likelihood that you will succeed professionally? -Your tenacity, grit, determination. -Your IQ, birth family, and self-control. -Your creativity, bank account, and friends (i.e., show me your friends and I will show you your future). -Your major, degree, and the quality of your first job.

Your IQ, birth family, and self-control.