Intro to Marketing
_____, also known as Millennials, constitutes more than 70 million members in the United States alone and were born between 1981 and 1996.
Generation Y
Which group was born into a world where the Internet and other digital technologies already existed?
Generation Z
What is the name for a group of individuals who are of the same generation?
Generational cohort
What is the process by which goods, services, capital, people, information, and ideas flow across national borders?
Globalization
The basis of any marketing strategy is its
Goals
Marketers often scan social media to learn more about what customers think. _____ is a technique in which data from a variety of online sources is used to collect consumer comments about companies and their products.
Sentiment analysis
In which situation did an alternative evaluation option occur within the search process?
Kevin searches for a new car on the Internet before visiting the "The Mile of Cars" store
Which step in the personal selling process occurs prior to meeting the customer for the first time and continues the qualification of leads research?
Preapproach
In addition to the traditional four Ps of marketing (product, price, place, and promotion), what are the additional three marketing Ps necessary for services?
Presentation Process Personnel
What are the three Ps that specifically address the greater complexities needed for providing services?
Presentation, personnel, and process
Which of these is important for the manufacturer and retailer to consider when determining how to position a brand and the products that fall under the brand?
Price
Break-even analysis examines the relationships between which of the following?
Price Cost
Which of the following are elements of the marketing mix? Price Portfolio Product Purchase
Price Product
Which of the following terms describes a firm's actions when it sells the same product to different resellers at different prices?
Price discrimination
What term describes scheming with other companies to control prices?
Price fixing
_____ occurs when one or more firms collude to control prices.
Price fixing
In omnichannel marketing, customers expect _____ consistency for the same SKU across channels.
Pricing
One of the most effective methods to assess how well a firm is delivering adequate service to consumers is to employ the _____ Model to evaluate their service provision.
Service Gaps
Companies have turned to social media for marketing products and there is still huge growth potential in this area considering that about _____ of the world's population currently uses Facebook.
30 percent
The early majority represents approximately _____ of the total consumer market and is crucial to the profitability of a product or service. Without them, the product or service will typically fail.
34%
While late to the party, the late majority category of consumers is still significant, making up roughly _____ of the total consumer market.
34%
What term describes a facility that receives, stores, and redistributes merchandise?
Distribution center
Which of the following terms refers to the number of channel members used at each level of the marketing channel?
Distribution intensity
Full-line discount, specialty, department, and off-price are all types of retailers that fall under which broad category?
General merchandise
When firms develop a marketing mix as part of their global marketing strategy, what is their primary goal?
To sustain a competitive advantage over time
What information is gained by adding variable and fixed costs together?
Total cost
Which of these are included in the "processes" aspect of retail strategy?
Transmitting credit card sales Ordering merchandise
_____ describes how easily consumers can test and use the product.
Trialability
True or False: An ethical decision-making metric is useful because it can be relied on to give the manager guidance when considering ethical questions.
True
True or False: Brands are sold either under a common/family name or as an individual brand.
True
True or False: If market testing returns with positive results, the firm is then ready to introduce the product to the entire market, which is called a product launch.
True
True or False: Managers can use the product life cycle model to help predict what pricing, product, promotional, and placement strategies they should employ at each of the four stages.
True
True or False: The source domains of marketing analytics methods include psychology, sociology, econometrics, and linguistics.
True
True or false: A global marketing mix is more complicated than a domestic marketing mix.
True
True or false: Brazil is currently in the top ten of the world's largest economies.
True
True or false: Consumers often evaluate alternatives while still engaged in the search process.
True
True or false: Educating consumers includes reminding people about what they already know.
True
True or false: Goals form the basis of any marketing strategy.
True
True or false: Situational factors sometimes override psychological and social issues.
True
True or false: Social shopping involves sending e-mails to specific customers about new products that may be of interest to them.
True
True or false: The general price range of the products offered by a retailer helps define the store's image.
True
True or false: The government is usually one of the largest spenders in the B2B market.
True
A country's infrastructure includes all of the following EXCEPT _____.
a culture that accepts innovation
When T-Mobile took the radical step of eliminating additional taxes or fees on the bills of its unlimited plan subscribers, it exhibits _____ because it provides additional value to potential cell phone customers by making billing consistent and easy.
a customer orientation
If automakers used _____ segmentation, they would use vehicle features such as the availability of a moon roof and Bluetooth capability to find customers similar to Justin.
behavioral
It might be challenging for Maggie to get retailers to carry her line of hypoallergenic skin creams because her
channel is not vertically integrated.
Television, the Internet, and smartphones are different communication _____ HSN uses in its IMC.
channels
Getting a commitment from the customer to purchase your product is also known as
closing the sale.
Vicki getting a commitment from Vacation Suites to purchase AI Information Solutions' robot concierge is also known as
closing the sale.
One of Taco Bell's most successful new products has been its "Doritos Locos Tacos," tacos with shells in the flavors of Doritos taco chip varieties. This is an example of _____.
co-branding
Companies must deliver more value and satisfaction to target consumers than its competitors to gain a
competitive advantage.
A _____ is a written document that includes the current marketing situation, specified objectives and strategies, action programs, and projected income statements.
marketing plan
When adopting strategies for entering a new market, many firms follow a(n) approach that morphs and becomes _____ over time.
more risky
Persuasive advertising is often used when competition is
most intense.
A(n) _____ is a basic need that drives consumers to solve a problem and satisfy a need, such as a headache that leads a person to purchase a pain reliever.
motive
A(n) _____ is a need or want strong enough to cause a person to seek satisfaction.
motive
The impetus that pushes consumers to satisfy their unmet needs, such as having no laundry detergent to do the wash, is a(n) _____.
motive
In relationship selling, the buyer and seller invest in opportunities that are _____.
mutually beneficial
Of the seven primary motivations for mobile app usage, which one do people spend nearly half of their time on each month?
need for "me time"
The diffusion of innovation theory is useful to marketers in helping them
predict which types of customers will buy their product immediately and later.
The "sensory panel" is an example of
premarket testing.
When Netflix launched its streaming-only plan, the company anticipated that most current users would drop the rental plan and move to the new plan. In strategic terms, this is a growth strategy of
product development.
How does Dole benefit from the Dole Nutrition Institute?
product ideas
A _____ is a group of associated items that consumers tend to use together or think of as part of a group of similar products.
product line
Band-Aid introduced First Aid to Go! in response to travelers' needs for smaller carry-on items. This new line of products added to the breadth of Band-Aid's
product mix.
Hope Springs needs tablet computers that are fast, include 24/7 tech support, and include a generous volume discount. These criteria would be collected during which stage of the B2B buying process?
product specification
In the B2B buying process, a firm will always recognize a need before engaging in the second phase of the process, _____.
product specification
One of the main causes for the tire's defect was the lack of a nylon overlay. Ford claims that it asked Firestone to produce the tires with a nylon overlay as well as include materials that would reduce tread separation. These are examples of
product specifications.
A _____ is something that a customer values and that can be bought or sold voluntarily.
product, good, or service (all correct)
As the marketing vice president of her firm, Faye is implementing a companywide pricing policy that all products must achieve a target profit margin of 10 percent so the firm can achieve its overall growth objectives. What type of company objective is this?
profit orientation
When evaluating the attractiveness of various segments, McDonald's should consider
profitability.
During the Olympics, companies use medal-winning athletes in television ads for their products. Which of the four Ps does this represent?
promotion
Selecting which brand name to use in each country is a _____ decision.
promotion
When a retailer places advertisements in newspapers, magazines, television, and social media, the retailer is using _____, one of the six Ps.
promotion
Where does Dole's 5 A Day Plan fit in the marketing mix?
promotion
For most products, the label is used for _____.
promotion and branding
Reminder advertising is primarily used to
prompt repurchase of a product.
In the fourth stage of the B2B buying process, _____, vendor negotiation, and selection all occur.
proposal analysis
After the Firestone recall, Ford recognized that it would need to work with a new tire supplier for its vehicles. Ford then began to develop new product specifications and request proposals from other tire manufacturers. What is the next step in the B2B buying process for Ford?
proposal analysis and supplier selection
Honor spent a lot of time shopping for her wedding dress, devoting considerable time and effort to visiting some of the finest bridal shops in her area. For Honor, her wedding dress is a(n) _____ product.
specialty
Ashley Stewart's "brick and mortar" retail stores are classified as which type of general merchandise outlet?
specialty store
Parents, children, and investors in Fisher-Price were among the groups whose interests were relevant to a decision about the future of the Apptivity Seat. Groups like these, who have an interest in the outcome of a business decision, are called
stakeholders
When a company engages in conscious marketing, it must appeal to all of the _____ who are affected by the firm.
stakeholders
Exporting happens when a firm produces a product in its domestic plants and then _____.
sells it in a foreign country
If Red Bull wished to learn more about how consumers view its products, it could analyze social media content to see what was being said about the brand. This would be an example of
sentiment analysis.
Customer _____ refers to human or mechanical activities undertaken by firms to help satisfy their customers' needs and wants.
service
In using the ethical decision-making framework, a firm should consider the impact of its actions on its employees, suppliers, and customers—otherwise known as the firm's
stakeholders.
If there is a difference between the firm's perceptions of customers' expectations and the service standards the firm has set, a _____ gap exists.
standards
Marketers use traditional demand curve theory to understand _____ in the five Cs of pricing.
consumers
When launching a new clothing line, a company must focus primarily on the needs and wants of _____.
consumers
Reaching the right audience with marketing communications has become more challenging because
consumers have become harder to persuade. (wrong)
In a direct marketing channel, the manufacturer sells its products to
consumers.
B2B marketing involves the process of buying and selling goods or services to be used in the production of other goods and services for _____ by the buying organization and/or _____ by wholesalers and retailers.
consumption; resale
The impact of the information effect depends on its _____.
context
For consumer products like toothpaste and groceries, goods consumers purchase throughout the year, most advertisers use a _____ advertising schedule.
continuous
During the _____ phase, managers must react to changes, such as the emergence of new technologies.
control
Whereas _____ carry about 30,000 SKUs, _____ stock only about 1,500 SKUs.
conventional supermarkets; extreme-value retailers
Because not all purchase intentions result in an actual purchase, retailers calculate the _____ to measure how effectively a decision to purchase a specific product results in a completed purchase.
conversion rate
In a value-based, marketing-oriented firm, marketers collect information about ______ and competitors and then analyze and distribute it across the firm's various departments. Multiple choice question.
customers
Which stakeholder group is most impacted by Daily Table's decision to sell "rescued" swordfish, ahi tuna, and salmon, which can cost as much as $30 a pound, for as little as $5.99 a pound?
customers
An in-_____ _____ is a qualitative research technique in which researchers ask questions in a one-on-one setting, record the answers, and then ask additional questions to clarify a particular issue.
depth interview
Marta was an influencer being paid by a company to promote its products that she liked, but she didn't tell her followers. Which ethical consideration for influencers did Marta most violate?
disclosing advertising content
A person who has downloaded the Flipboard app on his or her smartphone to get full-screen magazines, multiple news and entertainment sources, entertainment, local news, and business news is attempting to fulfill which motivation for using a mobile application?
discovery
In a(n) _____ demand scenario, relatively small changes in price will generate fairly large changes in the quantity demanded.
elastic
Walmart and Procter & Gamble effectively implemented _____, which allowed for information to flow directly from Walmart's store to Procter & Gamble's production facilities. This streamlined production as well as distribution, thus reducing costs and getting products to Walmart's customers sooner.
electronic data interchange
When Hope Springs purchases refillable bottles for its water, it submits its orders directly from its computer system to its supplier's system. This is an example of
electronic data interchange (EDI).
When an upscale grocer opened a store in a neighborhood of Chicago that suffered from vacant buildings and a high crime rate—it charged lower prices on certain staple foods, including eggs and dairy, as part of its effort to
eliminate food deserts.
Advertisers combine two main types of appeals: informational and _____.
emotional
Luxury goods firm Louis Vuitton will use a(n) _____ distribution strategy to limit sales to one or only a few select, higher-end retailers in each region, because selling its product in full-line discount stores or off-price retailers would weaken its image.
exclusive
A company must be able to evaluate an attractive opportunity in relation to its _____ competencies.
existing
Although the number of its physical stores is limited, REI is widely known for offering unique, high-quality merchandise. Adding an Internet channel was particularly attractive because it allowed the company to _____ without having to build new stores.
expand its market presence
Utilizing its website and social media, Ashley Stewart connects with other "Neighborhood Girls Gone Global," reminding them of how someone or something local can engage communities all over the world and succeed globally. Which benefit of omnichannel retailing does this highlight?`
expanded market presence
Because research is _____, it is important to figure out beforehand exactly what problem needs to be solved. Multiple choice question.
expensive and time-consuming
Ahmed considered three important attributes when deciding which mechanic he wanted to use: the convenience of the location, hours of operation, and price for services. In this situation, these three attributes are called
evaluative criteria.
The salient or important attributes about a particular product that consumers base their product evaluations on are called
evaluative criteria.
Marketers particularly want their brands and products to be in consumers' _____ sets.
evoked
Patty is considering different brands of makeup to buy, but she can only think of three she would actually consider purchasing. These three brands make up her _____ set.
evoked
Observation can be described as _____ through personal viewing or by means of a video camera.
examining purchase and consumption behavior
A core aspect of marketing involves a(n) ________, which is a transaction in which things of value are traded by buyers and sellers. Need help? Review these concept resources.
exchange
A travel company launches a new app that makes the process of booking your next vacation into a game. This is best categorized as using social media to _____ the customer.
excite
Which category in the 4E framework of social media might include discussing a contest for free merchandise that takes place in-store to bring customers into the facility?
excite
Open Road Bicycles has chosen a market penetration strategy. As sales continue to grow, the company's costs continue to drop, allowing even further reductions in the price. This is due to
experience curve effects.
In terms of the 4E framework, a company that employs a media-sharing site such as YouTube does so to help consumers
experience the company's goods or services.
The Y conducts national surveys, which are a type of qualitative research. All of the following are considered qualitative research except
experiments.
If a small business wants to take the least risky strategy to enter its first foreign market, it would choose which global entry strategy?
exporting
If Joe to Go decides to produce its coffee beans domestically and sell them in India through a local retailer, this would be an example of
exporting.
When entering a foreign market, the least risky entry strategy is
exporting.
Consumers often use _____ problem solving for risky purchase decisions. Multiple choice question.
extended
What type of buying process do most customers engage in when shopping for a car?
extended problem solving
Globalization refers to the processes by which goods, services, capital, people, information, and ideas
flow across national borders.
In the selling process, the saying "It ain't over till it's over" refers to the _____ stage.
follow-up
The _____ stage of the selling process offers a prime opportunity for salespeople to solidify customer relationships through great service quality.
follow-up
Someone who purchases the right to operate a retail outlet using a previously developed and supported .name and format is called a _____.
franchisee
If Joe to Go decides to enter into contracts allowing local businesses to use its coffee trademark and business format, it would be considering which strategy for international growth?
franchising
By providing its sales engineers with all of the tools they need, Sweetwater feels that it will have
happy, loyal customers.
Market positioning involves a process of defining the marketing mix variables so that the target customers _____.
have a clear, distinctive understanding of the product
The _____ stage of the life cycle for a new product or service category usually starts with a single firm, and innovators are the ones to try the new offering.
introduction
Consumers may have different levels of _____, which is known as the consumer's degree of interest in a product or service.
involvement
Randy is relatively indifferent when it comes to the purchase of a six-pack of beer because he will drink any brand that is fairly inexpensive. His low degree of interest in beer classifies him as a low-_____ beer buyer.
involvement
A competitive advantage based on location _____.
is sustainable when real estate is difficult or expensive to obtain
An exchange rate quantifies how much a currency _____.
is worth in relation to another
The importance of place is often underestimated in the marketing mix simply because
it happens behind the scenes.
One result of stores using a distribution center instead of receiving orders directly from a vendor is that
it helps stores avoid running out of stock or having too much stock.
Firms use a differentiated targeting strategy because
it helps them obtain a bigger share of the market.
A major advantage of primary data collection is that
it offers behavioral insights generally not available from secondary research.
Of all the stakeholders, a company's most basic responsibility is to
its employees.
Marcia has always loved Nike apparel for its style and comfort. She needs new workout pants, so she purchases a pair at the Nike Store. This is an example of which type of purchase decision?
limited problem solving
Rather than carrying 10 brands of diapers and wipes, Aldi offers one or two brands, one of which is its store brand, Little Journey. Aldi is an example of a(n)
limited-assortment supermarket.
The first stage of the social media engagement process is _____, which helps marketers determine their digital marketing objectives.
listen
One of the first steps in service recovery is that the firm needs to allow the customer to air his grievance and for the firm to _____ him.
listen to
One advantage for Dell in using blogs is that they give Dell the ability to _____ while engaging in conversation that builds better relationships.
listen to customers
FedEx trains its employees in problem-solving skills so that they can provide competent, empathetic service recovery. The first step in service recovery is to
listen to the customer.
The key to distributive fairness is
listening carefully to the customer
Studies have found that customers are typically ready to make a purchase decision well before salespeople attempt to close the sale. Vicki can learn when to close the sale by
listening to customers and paying attention to their body language.
Jeff indicates that the "perfect conversation" is necessary to make a sale. What is the main component of this conversation?
listening to the customer
The case explains that Starbucks has far more retail outlets than does Dunkin' Donuts, and it is sometimes said that in many cities you can find a Starbucks on almost every corner. What type of macro strategy for Starbucks does this difference between the two companies represent?
locational excellence
Which of the following would not potentially influence a person's decision of whether to use a weight-loss program?
locus of control
When Taran undertakes a postpurchase evaluation regarding the haircut she received and decides she is satisfied, her satisfaction will most likely lead to
loyalty.
Which of the following is the least likely part of the evaluative criteria considered by people who are interested in the camp car?
luxury and comfort
Culture, demographics, social issues, technological advances, economic situations, and the political/legal environment are all factors that make up which marketing component?
macro-environmental factors
Tariffs protect domestic producers by
making imported products more expensive.
McDonald's has a policy that, in addition to ketchup, mustard, and onions, all burgers must have two pickles. This contributes to efforts to reduce the _____ gap and provide measurable service quality based on expectations.
standards
When the U.S. government determined the prices of solar panels imported from China were artificially low due to illegal subsidies, it imposed a _____ to help domestic firms compete.
tariff
_____ control the flow of information and/or access to the members of the buying center at Hope Springs.
Gatekeepers
What is a major economic factor that a firm conducting an economic analysis of a country market must take into account?
General economic environment
Which of the following is NOT an advantage of secondary research?
It is the best source of unbiased data
Which statement is true of the supply chain of an omnichannel retailer?
It often includes multiple distribution centers.
What will happen to a firm if it continues to produce the same products in a saturated market?
It will eventually decline.
Integrated marketing communications programs aim to have all communications work together to deliver a concise message to the consumer. What is a potential problem Toyota might face with using nontraditional media?
Its current customers might get confused or the media might send the wrong message.
When establishing its overall segmentation strategy or objectives, what must the firm keep in mind? Its past performance Its mission and objectives Its current situation Its target market
Its mission and objectives Its current situation
Brenda has a busy schedule and does not have time to prep meals. _____ offers the added value of prepackaged and prepared meals, which reduce prep time. If Brenda bases her purchase decision on this attribute only, she is using a _____ decision rule.
Jenny Craig; non compensatory
Sweetwater's sales engineers use a database of existing customers to generate leads. This method uses
a CRM system.
When a company launches a new product line with an existing brand name, it is creating
a brand extension.
Giving consumers larger quantities at a low price would help Taco Bell regain
a competitive advantage.
Dole needs to be creative with its messaging due to
a competitive market.
Mobile task management technology is useful in
buy-online-and-pick-up-in-store purchases.
The _____ includes members of Hope Springs' upper management team, Brian (the purchasing manager), and members of the accounts payable department.
buying center
Stakeholders who fill different roles in the B2B buying process are collectively known as the
buying center.
An insurance agent, whose compensation is based on commission, is asked by a homeowner if damage from earthquakes is covered by the policy. It is company policy to avoid providing information about earthquake damage, so the salesperson misleads the homeowner. In this case the salesperson _____.
can be held accountable
The basic difference between a good and a service is that a good
can be physically touched.
Pioneer or breakthrough products are those that
can change consumer preferences
As M&M's have become more popular, the product can even be found in "big box retailers," otherwise known as
category specialists.
Variable costs change with
changes in the quantity being produced.
The five Cs of pricing are company objectives, customers, cost, channel members, and _____.
competition
Sara Lee determined the new product was a success at which stage of the development process?
evaluation of results
Consumers can use type of cuisine, neighborhood, and price as their _____ in the decision process.
evaluative criteria
In terms of their place on the diffusion of innovation curve, innovators are the _____ category of consumers.
first
Distribution intensity is commonly divided into three levels:
intensive, exclusive, and selective.
Frito-Lay increased its emphasis on _____ customers online to build its brand image.
interacting with
As firms become more sophisticated in their communication efforts, company blogs are becoming more
interactive
In order to be successful, Colgate Palmolive relies on its relationship with Target to stock its products, and Target relies on its relationship with Colgate Palmolive to increase sales. This best exemplifies which factor of successful strategic relationships?
interdependence
The strategic relationship between Walmart and Procter & Gamble is based on _____ because both firms realize that investments in supply chain management will create savings for consumers.
interdependence
The cost of borrowing money is measured by
interest rates
Resellers can be thought of as _____.
intermediaries
The next time Gabby purchases a plane ticket, she will be able to draw on what she learned during her holiday trip to help her to make future decisions about air travel. When recalling her experiences, she will be conducting a(n) _____ information search.
internal
Regular users of Yelp who search for reviews are likely to have a(n)
internal locus of control.
In order to examine the strengths of the Coffee Collective within a SWOT analysis, Martha would need to evaluate the _____ and _____ factors of her organization.
internal; favorable
There is increasing concern that _____ will be depleted through actions such as deforestation.
the physical environment
Marketers were expected to spend approximately ______ on social media ad spending in 2020.
$43 billion
Experts estimate that the average cost of a single B2B sales call is over
$500.
What does a brand need in order to be somewhat protected from competition from other firms and price competition?
-A loyal customer base -An established track record in the market
Which statements about mobile marketing are true? A majority of people in the United States who have smartphones use them to make purchases. Most downloaded apps are free. Mobile app downloads are expected to decrease. Global mobile downloads and in-app revenues are in the billions of dollars.
-A majority of people in the United States who have smartphones use them to make purchases. -Most downloaded apps are free. -Global mobile downloads and in-app revenues are in the billions of dollars.
In which situations would a firm be most likely to use persuasive advertising?
-A product category in the growth or early maturity stage of the product life cycle -A product category where competition is intense -A brand that the firm wishes to reposition
What are the fundamental components of the dynamic effect in social media engagement?
-An active back-and-forth exchange that promotes further interaction -The way in which people's interests and participation in online groups change over time
A strong brand protects firms from which of the following? -Changes in industry trends -An overall drop in consumer demand -An existing competitor lowering prices -New products offering similar features or benefits
-An existing competitor lowering prices -New products offering similar features or benefits
Firms become value driven by focusing on which of the following activities?
-Balancing customer benefits and costs -Sharing information -Building relationships
Why might a business choose to expand its market presence by adding the Internet channel?
-Catalogs are expensive to print and mail, and some customers disapprove of their effect on the environment. -Adding an Internet channel is attractive to retailers that have strong brand names but limited locations and distribution. -When customers go to stores, they typically shop only at those that are close to where they live.
What are the two basic types of brand ownership strategies?
-Retailer/store brands -Manufacturer brands
Which of the following are app pricing models for generating revenue? (Select all that apply.)
Freemium Paid apps Ad-supported
Which supply channel partners make merchandise flow directly to the customer?
Fulfillment center Retail store
Which of the following processes could be considered an acceptable method for generating ideas?
-Communicating with a firm's R&D department -Brainstorming within the firm -Conducting consumer research -Researching competitors' products and services
What are the key characteristics of the growth stage of the product life cycle?
-Competitors increase -Sales rise
Which are reasons why mobile marketing is increasingly important for marketers? (Choose every correct answer.)
-Consumers spend billions of dollars using apps. -Mobile app downloads are growing. -The majority of people who own smartphones make purchases on these devices.
Which statements about the way consumers make online purchases are true? Consumers use desktop computers more often than mobile apps. Searches made via mobile apps have higher conversion rates than those made via desktop computers. Consumers use mobile apps more often than desktop computers. Searches made via desktop computers have higher conversion rates than those made via mobile apps.
-Consumers use desktop computers more often than mobile apps. -Searches made via desktop computers have higher conversion rates than those made via mobile apps.
Without innovation, what options would be available to firms?
-Continue to market current products to current customers -Take current products to new markets
Which steps should marketers follow when using the objective-and-task method to determine a budget?
-Determine which media best reach the target market. -Identify the cost of the necessary communications. -Establish a set of communication objectives.
Which statements about measuring marketing campaigns are true?
-Factors such as the lagged effect can complicate the measurement process. -The success of campaigns is measured using marketing metrics.
Which pieces of information should be communicated to customers through a company's website?
-Features of products and services -Where customers can purchase products -Reviews of products or services
Which factors should be considered in the process of determining an advertising budget?
-Firms must understand how advertising will help them meet objectives. -Advertising spending will fluctuate over the course of the product life cycle.
Which of the following are ways in which marketing analytics of big data is useful? -For making very specific marketing decisions as well as for a variety of purposes across a company's marketing mix -For developing a homogeneous stock selection across all the stores of a national retailer -For developing a thoughtful segmentation and positioning strategy -For understanding a firm's web traffic for managing various customer segments
-For making very specific marketing decisions as well as for a variety of purposes across a company's marketing mix -For developing a thoughtful segmentation and positioning strategy -For understanding a firm's web traffic for managing various customer segments
Why is global segmentation, targeting, and positioning (STP) more complicated than domestic STP? -Foreign consumers view products and their roles as consumers differently. -Most countries do not have a distinct consumer culture. -There is typically only one subculture in foreign markets. -Firms struggle to understand the cultural nuances of other countries.
-Foreign consumers view products and their roles as consumers differently. -Firms struggle to understand the cultural nuances of other countries.
Marketing analytics of big data from website traffic is useful for which of the following? -Gaining insight into which online content and products most engage website visitors -Identifying the most relevant keywords to use for the website -Treating customer segments as homogenous, or similar to each other -Improving methods of converting shoppers into buyers
-Gaining insight into which online content and products most engage website visitors -Identifying the most relevant keywords to use for the website -Improving methods of converting shoppers into buyers
What goals might a firm hope to achieve with an IMC campaign?
-Generating inquiries -Increasing customer loyalty -Increasing market share
Amazon.com is an Internet channel that consumers use to purchase a wide variety of products. Which of the following aspects of Amazon.com are advantages it has over the store channel?
-Greater selection of products -Greater ability to collect information about consumer shopping behavior -Greater personalized information
What does an integrated CRM facilitate?
-Handling customer complaints -Targeting future promotions -Expediting returns
Which of the following activities are part of public relations?
-Handling unfavorable press -Building a positive image of the firm -Maintaining positive relationships with the media
Which of the following factors influence how rapidly a product will move through the product life cycle?
-How valuable the product is to the consumer -How different the product is from other offerings in the market
What are the components of the information effect in social media engagement? (Check all that apply.) Identifying the context and receiver of content Serving as a means by which people can share their interests with each other Engaging the customer at the right place and time Spreading relevant information through various channels
-Identifying the context and receiver of content -Spreading relevant information through various channels
Marketing analytics makes it possible for marketers to analyze large amounts of collected data concerning customer information and purchase histories to accomplish which of the following? Improve marketing decision making Make appropriate customer-related decisions Optimize marketing returns Reduce specialized marketing for different market segments
-Improve marketing decision making -Make appropriate customer-related decisions -Optimize marketing returns
Which of the following are benefits that a service provider receives from engaging in effective service recovery?
-Increased purchase intention -Improved word of mouth
What are the major areas in which salespeople need training?
-Selling and negotiation -Technologies used in the selling process -Product and service knowledge
Which financial performance metric might be used to evaluate the performance of a company's implementation of its marketing plan?
GM (gross margin)
What are examples of social media content that businesses can effectively leverage to excite customers? (Choose every correct answer.) Information on Facebook used to communicate deals Mobile apps used to communicate personalized offers "Fake news" that appears on the company website Games based on a product or brand
-Information on Facebook used to communicate deals -Mobile apps used to communicate personalized offers -Games based on a product or brand
Which of the following are associated with marketing, as defined by the American Marketing Association? Institutions that facilitate the exchange of offerings that have value for customers Organizations that develop industry partnerships for international outsourcing Activities that communicate offerings that have value for society at large Processes used to create value for clients Institutions that implement technologies for increased production efficiency
-Institutions that facilitate the exchange of offerings that have value for customers -Activities that communicate offerings that have value for society at large -Processes used to create value for clients
Which of the following are true of an advertising plan?
-It identifies the objectives of the advertising campaign. -It analyzes the marketing and advertising situation. -It indicates how a firm can determine whether the campaign was successful.
Television is one of the most effective media outlets an advertiser can use in executing an ad campaign. There are, however, downsides to using this approach. What are some disadvantages of using television?
-It may increase awareness of competitors' products. -It is expensive to use.
What are the advantages of secondary research? It saves time in data collection because it is readily available. It offers behavioral insights. It reduces the cost of data collection. It is specific to data needs for the topic in hand.
-It saves time in data collection because it is readily available. -It reduces the cost of data collection.
Which factors are improved when companies behave ethically with their customers?
-Long-term relationships -Quality of business
Public relations is the organizational function that oversees a company's communications to achieve which of these objectives?
-Maintaining a positive image -Handling unfavorable stories or events -Maintaining positive relationships with media
Branding enables a firm to do which of the following?
-Make consumers aware of available products -Differentiate its product offerings
A portfolio analysis involves which of the following? Management allocates its resources to products with the greatest potential to be profitable. Management identifies and evaluates opportunities using STP. Management develops the marketing mix for each SBU. Management evaluates the firm's various products and businesses.
-Management allocates its resources to products with the greatest potential to be profitable. -Management evaluates the firm's various products and businesses.
Which of the following are related to marketing in the production-oriented era? Manufacturers were concerned with product innovation, not with satisfying the needs of individuals. Retail stores were considered places to hold inventory until it was sold. Personal selling was used to market products. There was an excess supply of product, and the consumer held all the power.
-Manufacturers were concerned with product innovation, not with satisfying the needs of individuals. -Retail stores were considered places to hold inventory until it was sold.
Which statements about mobile marketing are true? (Choose every correct answer.) Most downloaded apps are free. Mobile app downloads are expected to decrease. A majority of people in the United States who have smartphones use them to make purchases. Global mobile downloads and in-app revenues are in the billions of dollars.
-Most downloaded apps are free. -A majority of people in the United States who have smartphones use them to make purchases. -Global mobile downloads and in-app revenues are in the billions of dollars.
Which traits are true of ALL products? Delivered directly to the consumer Bought through an online distributor Offered through a marketing exchange Something that a customer values
-Offered through a marketing exchange -Something that a customer values
Which of the following factors cause fulfillment centers to operate a little differently when processing online orders than orders shipped to stores?
-Orders are sent out in relatively small quantities. -Orders arrive from customers one at a time.
If a car manufacturer wanted to segment its marketplace, it would do which of the following? Offer the same car model to all consumers in the marketplace Organize potential customers into groups based on their age Divide consumers into groups based on their incomes Identify customer needs for different types of cars (such as sports cars, SUVs, and family sedans)
-Organize potential customers into groups based on their age -Divide consumers into groups based on their incomes -Identify customer needs for different types of cars (such as sports cars, SUVs, and family sedans)
Why are many firms shifting some of their promotional dollars away from advertising?
-Print media have grown and become more specialized. -Advances in technology have led to a variety of new and traditional media channel options for consumers.
Retailers help satisfy customers' needs by providing which of the following? Products in the quantities their customers wish to buy An assortment of products geared toward their target market Limited service since consumers would rather wait on themselves Restricted and reduced product access A mix of services relating to the products they sell
-Products in the quantities their customers wish to buy -An assortment of products geared toward their target market -A mix of services relating to the products they sell
What were the primary characteristics of the market-oriented era that followed World War II? Products were designed to focus on consumers' needs. It was a buyer's market. It was a seller's market. Consumers had to purchase products of inferior quality.
-Products were designed to focus on consumers' needs. -It was a buyer's market.
Social media marketing is used by marketers to accomplish which of the following? (Choose every correct answer.) Increase the price of the product or service offered Remind buyers about the brand and its benefits Increase the efficiency of the supply chain Communicate the value proposition of the brand
-Remind buyers about the brand and its benefits -Communicate the value proposition of the brand
Which statements about social media are true? Social media facilitate interpersonal interactions. Social media can be an important component of an integrated marketing communications strategy. Social media include online but not mobile technology. Social media are used by marketers and customers to share many kinds of information.
-Social media facilitate interpersonal interactions. -Social media can be an important component of an integrated marketing communications strategy. -Social media are used by marketers and customers to share many kinds of information.
Which of the following are fundamental ideas behind the connected effect in social media engagement? (Check all that apply.)
-Social media serve as a mechanism for people to share information with others. -People have an innate need to connect with others. -The connection in social media is bidirectional.
Which of the following are factors that have contributed to Brazil's economic growth in the 21st century? -The availability of cheap imports from other countries -Social programs that have expanded the middle class -Strong restrictions on foreign investment -An increase in the literate population
-Social programs that have expanded the middle class -An increase in the literate population
Which of the following criteria are necessary to assess a country's market? Sociocultural analysis Economic analysis Climatological analysis Infrastructural analysis
-Sociocultural analysis -Economic analysis -Infrastructural analysis
What are the components of the information effect in social media engagement?
-Spreading relevant information through various channels -Identifying the context and receiver of content
Why do some consumers feel upset about the fact that businesses are collecting their personal information?
-The business might sell the information to other companies or individuals. -The consumer cannot control what a business might do with this personal information in the future. -The consumer might be bombarded with unwelcome advertisements online or in the mail.
What are the components of the network effect in social media engagement? (Choose every correct answer.)
-The exponential impact of having people share information with their social media contacts -The speed at which information spreads through social media
What factors determine how difficult it is for a manufacturer to persuade retailers to purchase its products?
-The relative power of the manufacturer and retailer -The degree to which the channel is vertically integrated -The strength of the manufacturer's brand
Which statements about service retailers are true? They are largely self-serve, offering limited service. They form a shrinking part of the retail industry. They are a large part of the retail industry. They include health clubs and dry cleaners. They primarily sell services rather than merchandise.
-They are a large part of the retail industry. -They include health clubs and dry cleaners. -They primarily sell services rather than merchandise.
Which of the following accurately characterize demand curves?
-They relate demand to prices while assuming everything else remains unchanged. -They show how much consumers will demand during a specific period at different prices.
What objectives do firms have in adding new products, services, and processes to their offerings?
-To satisfy the changing needs of consumers -To keep customers from getting bored with existing products
Which activities are planned, directed, and controlled through sales management?
-Training and motivating -Personal selling -Compensating and evaluating
Which of the following are included in the ideas for sustainable packaging?
-Using 3D printing -Using returnable packaging -Adding recycled materials to packaging
What are reasons why strategic planning may NOT occur sequentially?
-When the implementation plan cannot move forward because there are too few resources -When new logical alternatives arise -When a situation analysis necessitates that the mission statement be revised
Place the stages of the marketing research process in the correct order.
1. Defining objectives and needs 2. Designing the research 3. Collecting the data 4. Analyzing data and developing insights 5. Developing and implementing an action plan
Place the steps in the segmentation, targeting, and positioning process in their conventional order, with the first step at the top.
1. Establish strategy or objectives 2. Use segmentation methods 3. Evaluate segmentation attractiveness 4. Select target market 5. Identify and develop positioning strategy
The product development process can be diagrammed as a sequential process. Place the stages in order, with the first stage at top.
1. Idea generation 2. Concept testing 3. Product Development 4. Market Testing 5. Product launch 6. Evaluation of results
Place the steps of the consumer decision process in order, with the first step at the top.
1. Need Recognition 2. Information Research 3. Alternative evaluation 4. Purchase and consumption 5. Postpurchase
Place the steps of the B2B buying process in order, with the first step at the top.
1. Need recognition 2. Product specification 3. RFP process 4. Proposal analysis and vender negotiation and selection 5. Order specification 6. Vendor performance assessment using metrics
Direct investment requires a firm to maintain _____ ownership of its facilities, offices, and plants in a foreign country.
100 percent
Laggards make up roughly _____ of the market.
16%
Which two of the following are franchises? A local clothing store A Holiday Inn motel A McDonald's restaurant A Snickers candy bar
A Holiday Inn motel A McDonald's restaurant
Which of the following characterizes an exchange? A buyer and seller work together to neither increase nor decrease net satisfaction. A buyer maneuvers a seller into providing maximum value for the lowest price. A seller determines the best way to maximize profit while minimizing buyer value. A buyer and seller trade things of value, leaving each better off than before.
A buyer and seller trade things of value, leaving each better off than before.
Lordis wants to improve the element of connection on her firm's social media feed. What would be most helpful to her?
A call-to-action button
What is a wholesaler?
A company that buys merchandise from manufacturers and resells it to retailers
Which of the following products or services is considered perishable in the sense that it cannot be stockpiled?
A dental exam
According to your text, what is the most likely result of the buy-online-and-pick-up-in-store option?
Customers will be more likely to make additional purchases while in store.
Which statement about marketing channels is true? -Firms have the best opportunity to design the best marketing channel within their first year. -A marketing channel may be a combination of a direct channel and an indirect channel. -The structure of a marketing channel is solely up to the goods manufacturer. -A direct marketing channel is generally the best channel choice for large retailers.
A marketing channel may be a combination of a direct channel and an indirect channel.
_____ is a tool used to visually display how consumers perceive the position of products or brands in the market on different dimensions relative to competitors.
A perceptual map
Which two of the following are important considerations for place in the marketing of services?
A presence on the Internet
Which of the following best describes a focus group?
A small group of people put together for an intensive discussion
The "think, feel, do" model for the mental stages a consumer goes through is more formally called the _____ model.
AIDA
To create an effective IMC program, marketers need to move consumers through a series of mental stages for which there are several models, the most common being the _____ model.
AIDA
Which of the following is an example of a brand extension?
Acme chips and Acme dips
What are the four broad categories into which marketing analytics tools and methods can be classified?
Active Prescriptive Predictive Descriptive
What is the best definition of dynamic in the term dynamic effect?
Active and constantly changing
If a business offers unique, desirable merchandise but has only a few stores, what is most likely the least expensive way to expand its market presence?
Add the Internet channel.
Rahim is looking for ways to increase communication with customers through his company's website. Which of the following would be most helpful?
Adding an instant messaging function
What activity involves placing announcements and persuasive messages in the mass media, to inform and/or persuade a target market or audience about products, services, organizations, or ideas?
Advertising
Which of the following is the most visible IMC component?
Advertising
A firm can begin to implement the marketing mix immediately after which step?
After it has finished segmentation, targeting, and positioning
What is an effective way for digital marketers to use content?
Align the content to suit the target market specifically.
Which of the following is an example of power being exerted within a marketing channel?
Although all companies in the channel are independent, one large retailer controls what a small supplier can do.
Which digital marketing outlet would fall under the category of a "thought-sharing site"?
American Express Open Forum
Which of the following statements does not explain why camp cars are less popular in the United States?
American cities are more concentrated.
Which of the following should a subhead contain?
An action verb
What is the best example of corporate social responsibility affecting the marketplace?
An industry leader adopts environmentally friendly production practices and other companies in the industry follow suit.
_____ involves the buyer considering his own or her personal knowledge about a product based on past experiences.
An internal search for information
What is the best definition of a blog?
An online journal enabling people to share their thoughts
What are the three stages of the social media engagement process?
Analyze Listen Do
Which of the following are included in marketing research? Analyzing data Selling data Editing data Interpreting data Collecting data
Analyzing data Interpreting data Collecting data
Which group represents the fastest-growing minority population in the U.S.?
Asian Americans
Which of the following is NOT one of the categories of consumer products that buyers use for their personal use? -Associated products -Shopping products -Specialty products -Convenience products
Associated products
Which of the following best describes when an ad campaign should be assessed?
At all points of a campaign
When should firms introduce conscious marketing?
At the beginning of the planning process
Which of these refers to the controllable characteristics of a store, related to presentation?
Atmospherics
Which of the following are some reasons that professional selling can be a satisfying career?
Autonomy Flexibility Independence
This is a _____ type of interaction.
B2B
The process by which businesses sell to consumers is known as Blank______ marketing.
B2C
Which of the following are components of culture? (Choose every correct answer.)
Beliefs Customs Morals
Some markets demand a higher frequency of new product releases than others. In which of the following markets do sales come from new products?
Books Video games Movies
What is a useful technique that enables managers to examine the relationships among cost, price, revenue, and profit over different levels of production and sales?
Break-even analysis
What advantage does online shopping have over traditional store channels?
Broader selection
_____-to-_____ marketing refers to the process of buying and selling goods or services to be used in producing other goods and services for consumption by the buying organization and/or for resale by wholesalers and retailers.
Business; business B;B
Which of the following is a way by which risk can be diversified?
By creating a broader portfolio of products through innovation
Employees at Southwest Airlines donate volunteer hours to Ronald McDonald Houses throughout the United States. This is an example of a(n) _____ program.
CSR
According to the BCG matrix, which type of product typically has excess resources that can be used to support other products that need additional resources?
Cash cows
Which of the following is one of the five Cs of pricing?
Channel members
Once a sale has been made, what is the best approach for a salesperson to take to prevent a potential problem from becoming a bigger issue?
Check in with the customer right after the sale has been completed
What is most helpful to know when trying to understand how visitors navigate a site?
Click paths
What show how users move through, or navigate, the pages of a website?
Click paths
_____ power is operating when one channel member punishes or threatens to punish another channel member for not undertaking certain tasks, such as delaying payment for a late delivery.
Coercive
In addition to customer satisfaction and loyalty, which of the following is also one of the potential post-purchase outcomes?
Cognitive dissonance
Why should businesses carefully consider how they gather data and what they do with it?
Collecting and selling personal data about customers could be unethical.
Which of the following is NOT a step in the formal business-to-business buying process?
Commercialization
Identify all components which may make up a salesperson's financial compensation?
Commission Salary Bonus
Which of the following are critical elements of the 7C framework for online marketing? (Choose every correct answer.)
Communication Content Commerce
What is a result of the ad revenue companies collect from advertisers? Companies charge consumers higher prices for their services. Companies are able to offer free services to consumers. Companies no longer need end consumers. Companies are forced to pass their cost of operations to consumers.
Companies are able to offer free services to consumers.
Which is one of the five Cs of pricing?
Company objectives
Which of the following belong to the five Cs of pricing?
Company objectives Costs Channel members
Which of the following is one of the five Cs of pricing?
Competition
Which of these is NOT a macroenvironmental factor that directly influences a firm?
Competition
Susie posts pictures of places she has visited on Instagram and tells the story behind them. What social media effect does this represent?
Connected effect
Which practice gives a company a sense of purpose beyond making a profit?
Conscious marketing
What must decision-makers do when they use the ethical decision-making framework? Choose a course of action that will encounter serious ethical lapses Consider the relevant ethical issues Evaluate the alternatives Realize that financial performance metrics are important
Consider the relevant ethical issues Evaluate the alternatives
What are products that household buyers use for their own use called?
Consumer products
Imagine that you have been assigned to market a cleaning product. Which statement best describes the disadvantage of using coupons as a sales promotion strategy for such a product?
Consumers might stock up on the cleaning product now and not buy more later.
Which component of the 7Cs of online marketing comprises text, graphics, videos, and audio?
Content
Which scenario is an example of loyalty to a company in a consumer's daily life?
Continuing to shop at Dunkin' Donuts even if Starbucks opens more convenient locations and offers slightly lower prices
What type of advertising schedule has advertisers running their ads throughout the year?
Continuous
In which stages of the strategic marketing planning process do firms address conscious marketing? Control Financial Planning Implementation
Control Planning Implementation
When a firm enters into a joint venture agreement with a local firm, the two investors will share which of the following? Voting shares in each company's other divisions Control of business operations Ownership of the firm Any profit gained
Control of business operations Ownership of the firm Any profit gained
What is the first step in the 7C framework?
Core goals
Which of the following are factors that affect consumers' immediate environment?
Corporate partners Company capabilities Competitors
Which of the following refers to voluntary actions a company takes to address the expectations of stakeholders?
Corporate social responsibility
With regard to the ethical decision-making metric, which question best represents the transparency test?
Could I give a clear explanation for the action I'm contemplating that would satisfy a fair and moral judge?
Which type of sales promotion stimulates demand and can be found on mobile devices and/or on products themselves?
Coupons
_____ is defined as the shared meanings, beliefs, morals, values, and customs of a group of people.
Culture
_____ is the shared meanings, beliefs, morals, values, and customs of a group of people.
Culture
Manufacturers will work with specific retailers depending on where their target consumers expect to find their products. What does this process refer to?
Customer expectations
What might a concept include along with a brief written description of the product?
Customer needs it satisfies Visual images
Which of the following are considered part of the five Cs of pricing?
Customers Channel members Company objectives Competition
Which entity does NOT market to the other entity? Customers to businesses Businesses to customers Manufacturers to retailers Wholesalers to retailers
Customers to businesses
_____ are raw numbers, that on their own, have limited value to marketers.
Data
_____ is the use of a variety of statistical analysis tools in marketing research to uncover previously unknown patterns in data or relationships among variables.
Data mining
In the second step taken to convey the message, what do marketers do?
Decide what appeal would be most effective
What tasks are firms increasingly using artificial intelligence (AI) to complete? (Choose every correct answer.)
Decision making Speech recognition Translations
Which of the following are among the five stages in the marketing research process? Staffing the research project Defining objectives Analyzing the data Collecting the data
Defining objectives Analyzing the data Collecting the data
The E100 is compact and easy to maneuver in heavily populated streets, and its battery can last for about 96 miles, and then takes only about 7.5 hours to charge. _____ factors include the needs of consumers who chose to live in the urban areas of Chinese cities.
Demographic
_____ issues impacted the Tesla from being very widely purchased upon introduction.
Demographic
_____ segmentation is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach.
Demographic
_____ reflects the link between consumers' demand for a company's product and the company's purchase of necessary inputs to manufacture or assemble that particular product.
Derived demand
When marketers seek to evaluate market attractiveness, what must they do first?
Determine whether the segment is worth pursuing
_____ of innovation is the process by which the use of an innovation, whether a product or a service, spreads throughout a market group over time and over various categories of adopters.
Diffusion
In which type of marketing channel are products sold by a manufacturer to a consumer without going through a retailer?
Direct
Which of the following are the common types of marketing channels?
Direct Indirect
Which IMC strategy involves communicating specifically with target customers to elicit a response or transaction?
Direct marketing
What adjective best describes the network effect?
Exponential
A manufacturer of clothing currently sells its products at Neiman Marcus and Dillard's. A survey shows that a majority of its customers expect to find its products at Neiman Marcus, Macy's, and Saks Fifth Avenue, but relatively few customers expect to find the products at Dillard's or Marshalls. If the manufacturer acts on its customers' expectations, what action would it take in regard to its retail partnerships?
Drop Dillard's and add Macy's and Saks Fifth Avenue.
When did the high degree of power held by the consumer lead to firms discovering marketing? During the production-oriented era During the market-oriented era During the sales-oriented era During the value-based marketing era
During the market-oriented era
In order to find out what retailers might have unsold G23 jackets, Bill will probably use
EDI.
Firms achieve operational excellence through which of the following? Efficient operations Strong relationships with suppliers Good supply chain management Reducing focus on human resources
Efficient operations Strong relationships with suppliers Good supply chain management
Which major types of appeals are used by advertisers?
Emotional Informational
Which personality trait of good salespeople shows that they care about the issues and problems of their customers?
Empathy
A market penetration strategy, as one of the possible growth options, may be achieved by which of the following?
Encouraging current customers to patronize the firm and the brand more often
The concept of connection is most closely related to which of the 4Es?
Engagement
Which of the following is at the center of the Wheel of Social Media Engagement?
Engagement
What is a fundamental component of the timeliness effect in social media engagement?
Engaging the customer at the right time and place
What is the best way to avoid vertical channel conflict?
Ensure that communication between channel partners is honest and open.
Corporate social responsibility programs must be designed around the changing values of customers. Which of the following are trends that are currently receiving a lot of attention? Ensuring the healthiness of products Providing consumers with free products Respecting and protecting consumer privacy Using television to reach new consumers
Ensuring the healthiness of products Respecting and protecting consumer privacy
The first step in the STP process is to
Establish overall strategy or objectives
Which of the following steps are part of the segmentation, targeting, and positioning process? Establish strategy or objectives Develop the marketing plan Selecting target market Increasing benefits Evaluating segment attractiveness
Establish strategy or objectives Selecting target market Evaluating segment attractiveness
What must decision makers do when they use the ethical decision-making framework? (Choose every correct answer.)
Evaluate the alternatives Consider the relevant ethical issues
Which of the following steps are part of the segmentation, targeting, and positioning process? Evaluating segment attractiveness Increasing benefits Selecting target market Develop the marketing plan Establish strategy or objectives
Evaluating segment attractiveness Selecting target market Establish strategy or objectives
After a new product is launched, what is the next step of the product development process?
Evaluation of results
Which pricing strategy appeals to consumers because it reduces their need to spend time comparing prices at various stores?
Everyday low pricing
Which pricing strategy is involved when a company adopts retail prices that are typically somewhere between the product's regular price and the sharply discounted sale prices that competitors occasionally offer?
Everyday low pricing
Which of the following is the measure of how much one currency is worth in relation to another?
Exchange rate
A firm that is considering changing the colors used on its packaging wants to determine the effect of different color schemes on sales. To do so, the firm places three different packages in stores in three different markets. What type of research is this?
Experimental
_____ research systematically manipulates one or more variables to determine which variables have a causal effect on another variable.
Experimental
Jamie wants to buy a car. She reads car reviews online, asks her friends for advice, and visits the websites of all the major car manufacturers. Next, she goes to several car dealerships to test-drive cars. Jamie is engaging in which type of problem solving to select a car?
Extended
Which federal agency has the general purpose of regulating interstate and international communications?
FCC
Which federal agency has the general purpose of regulating food, supplements, drugs, cosmetics, medical devices, biologics, and blood products?
FDA
The _____ is the primary enforcement agency for mass media advertising.
FTC
In which of the following ways should a sales manager treat his or her sales force?
Fairly and equally
The consumer decision process starts with need recognition and ends with the purchase itself.
False
True or False: Businesses should avoid using social and mobile media technologies.
False
True or False: Customers generally prefer talking to a salesperson when they need information over searching on the Internet.
False
True or False: New products must be targeted toward end consumers.
False
True or False: Qualitative research relies on experiments and surveys.
False
True or False: Service providers that have high customer satisfaction ratings this year are unlikely to achieve the same level of satisfaction next year.
False
True or false: A firm with a primary objective of very high sales growth will have the same pricing strategy as a firm with a primary objective of being a quality leader.
False
True or false: Advertisers assess a campaign only after the ad has run.
False
True or false: Firms that use multiple strategies to build a sustainable competitive advantage have difficulty maintaining long-term success.
False
True or false: If firms implement programs that are socially responsible, their employees are NOT required to act in an ethically responsible way.
False
True or false: Marketers should expect to measure the full potential of a marketing campaign immediately after it is launched.
False
True or false: Marketing researchers are free to use customer data in any way they need to, as long as the researchers did not collect it.
False
True or false: Omnichannel retailers price items the same regardless of channel.
False
True or false: Salespeople tend to be closely supervised on a day-to-day basis.
False
True or false: Service retailers, which sell services rather than merchandise, are a small and shrinking retail sector.
False
True or false: The advertising budget should remain the same throughout the course of the product life cycle.
False
True or false: The important characteristics of retailers are the same in every industry.
False
True or false: The only way to experience a product or service for sale is to actually purchase it.
False
True or false: The purpose of a marketing strategy is to maximize short-term profits.
False
True or false: When first creating an IMC campaign, firms should avoid focusing on the long term.
False
In which of the following areas is it illegal to discriminate on the basis of race, religion, nationality, sex. or age?
Firing Promotion Hiring
What is a key characteristic of the maturity stage?
Firms defending market share
Which step in the selling process involves generating a list of possible customers and assessing their potential?
First
Which of the following do you need to know to calculate target return price?
Fixed costs Expected unit sales Variable costs
The primary federal agency that reviews food and package labels to ensure that the claims made by the manufacturer are true is the
Food and Drug Administration.
Product development entails a variety of processes and considerations to determine which aspects of a product or service?
Form and features
Which of the following is NOT one of the four main types of organizations that make up B2B markets?
Franchisers
_____ consists of GDP plus the net income earned from investments abroad, minus any payments made to nonresidents who contribute to the domestic economy.
Gross national income
In which stage of the product life cycle is persuasive advertising most often used?
Growth
Roberto is manager of a Xerox sales team that emphasizes relationship selling. His team works with customers to provide technical support and customer service. What is Roberto's relationship selling goal?
Help customers find beneficial solutions
Which of the following is most likely to lead to high levels of customer loyalty?
High customer satisfaction ratings
Which pricing strategy features frequent sales, during which prices are lowered for a short time?
High/low pricing
Which pricing strategy should retailers use to tap into consumer excitement about buying something at a special low price for a limited time?
High/low pricing
The competition in food retailing could best be characterized as which of the following?
Highly competitive
Which group of consumers in the United States makes up almost 20% of the U.S. population and is expected to reach 72 million by 2030?
Hispanic
Which of these is a service retailer?
Horizon Natural Health Spa
Which statement about marketing channels is true?
IMC combines the channels so that together they exceed the total of the individual channels.
_____ generation refers to the first stage in the process by which firms develop a new product.
Idea
Advertising is a paid form of communication, delivered through media from an identifiable source, about which of the following?
Idea Product Service
When a company decides to pair the purchase of a particular product with a donation to a selected charity, the company is in which phase of its conscious marketing strategy?
Implementation
During which step of the marketing plan do marketers make important decisions about how they will allocate their scarce resources to their various products and services?
Implementing the marketing mix
Which statement regarding the B2B buying process is true?
In the B2B buying process, the search for information and evaluation of alternatives is more formal and structured.
What is a qualitative research technique in which trained researchers ask questions to a few selected participants individually, record the answers, and then ask additional questions if needed for clarification?
In-depth Interview
What is the most likely outcome for a company when it practices social responsibility to customers? Increased awareness of the firm Lower sales Decreased brand awareness Worse brand equity
Increased awareness of the firm
Which BRIC country has a retail environment still dominated by millions of small stores and lacks modern supply chain management facilities and systems?
India
Which of the BRICs has one of the youngest populations in the world, with an average age of 28.1 years?
India
Which type of marketing channel includes a retailer or other intermediaries in the delivery of goods and services to consumers?
Indirect
_____ refers to an increase in the prices of goods and services and a decline in purchasing power.
Inflation
Which are components of the Wheel of Social Media Engagement? (Choose every correct answer.)
Information Network Dynamic
When an advertising campaign for a new product is first launched, which type of advertising would be most helpful in building awareness?
Informative
Which of the following is defined as the basic facilities, services, and installations needed for a community or society to function?
Infrastructure
Drag each description to the correct buying role.
Initiator <-> Person who first suggests buying the product Influencer <-> Person whose views persuade others Decider <-> Person who ultimately determines the buying decision Buyer <->Person who handles the paperwork of the purchase User <-> Person who consumes or uses the product Gatekeeper <-> Person who controls information and/or access to decision makers and influencers
_____ is the process by which ideas are transformed into new products and services that will help firms grow.
Innovation
_____ are those buyers who want to be the first on the block to have a new product or service.
Innovators
_____ will be crucial to the success of Ben's new online greeting card delivery service because they will help the service gain market acceptance by spreading positive word of mouth about it.
Innovators
_____ means that the Coffee Collective's customers cannot easily distinguish the service provider, such as Martha and her employees, from the service itself, such as purchasing and drinking the fresh-brewed coffee.
Inseparability
Which of the following are examples of technologies that allow communication with customers? Instant messaging Search engine marketing (SEM) Live chat E-mail
Instant messaging Live chat E-mail
_____ provides the equipment or systems needed to perform a task in a job setting.
Instrumental support
In its marketing, Singapore Airlines might present the airline's new seats and emphasize their size in order to address which issue is unique to services.
Intangibility
_____ marketing communications (IMC) encompasses a variety of communication disciplines in combination to provide a maximum communicative impact on its consumers.
Integrated
_____ data, or the facts and figures that have already been collected about the Coffee Collective prior to the research at hand, would include information relating to budgets, previous marketing activities, sales and customer communications.
Internal secondary
One advantage of using the _____ channel over the _____ channel is the much higher probability of having a deeper assortment of merchandise available.
Internet; store-based
Why is brand extension a popular marketing strategy?
It allows the firm to spend less on creating brand awareness and associations.
Why is the loyalty that results from building relationships so important?
It builds repeat sales.
What is a characteristic of quantitative research?
It confirms insights and hypotheses generated via qualitative research.
Allison has decided to use a vendor to ship items to her store instead of a distribution center. What is her most likely reason?
It gets merchandise to the stores faster.
Which statement is true of the Internet channel compared to the store and catalog channels?
It helps retailers offer a greater variety of products.
Firms can highlight a product's relative advantage, which refers to which perception among consumers about the product?
It is better than its substitutes.
The Service Gaps Model can be very useful to improve the delivery of services. Drag each example to the type of gap it exemplifies.
Knowledge <-> Diners at a restaurant think the portions are too small, but the manager is unaware of this complaint. Standards <-> Management believes that customers in a restaurant think the service is very slow, however, management allows servers to stand around and chat. Delivery <-> A restaurant usually serves fresh bread made on the premises, but at the end of the day the ovens are shut down early and only cold loaves are available. Communication <-> A restaurant advertises they are open for breakfast, but when guests arrive on Sunday morning, there is a sign on the door indicating they only open for brunch at 11:00.
_____ are consumers who like to avoid changes and rely on traditional products until they are no longer available.
Laggards
_____ rely on traditional products until they are no longer available, and then they may reluctantly adopt the product.
Laggards
Which of the following are considered aspects of the physical environment? (Choose every correct answer.)
Land Water Living organisms
Who usually benefits from price discrimination?
Large firms
The political/legal environment consists of which of the following? (Choose every correct answer.)
Laws and legislation Political parties
In the selling process, what term is used to describe prospective customers whose potential must be assessed?
Leads
_____ is known for connecting businesspeople and is the largest network of business professionals.
What is the first stage of the social media engagement process?
Listen
Which factor does NOT directly influence how the consumer makes a purchase decision?
Macroeconomic factors
Which word best describes the social, political, economic, and technological factors with which marketers interact?
Macroenvironment
Pat feels pressure to increase sales, so she decides to intentionally mark up the price on a new shipment of leggings. Even though she is deceiving the customer, Pat justifies her decision by believing management will be pleased with the increase in revenue. However, her decision may have serious consequences for the company in the long term. What is the best way to avoid the consequences that can result from such behavior?
Make sure the short-term goals of each employee are aligned with the long-term goals of the firm.
What is the first step in the merchandise flow channel?
Manufacturer
Burt's Bees buys raw materials in order to make its earth-friendly products, such as perfumes, lip balms, and hair products. Which of the following business markets best describes Burt's Bees? Multiple choice question.
Manufacturer or producer
What is the most direct supply chain in a simple economy?
Manufacturer to consumer
Channel members include which of the following?
Manufacturers Wholesalers Retailers
Product development or product design entails a process of balancing which types of considerations?
Manufacturing Engineering Marketing
One way Netflix could grow its business would be to offer its existing services to foreign markets it does not currently serve. This would represent which growth strategy?
Market Development
What growth strategy is being used when a company that makes protein bars for long-distance runners starts selling the same bars to busy parents as a quick breakfast?
Market development
_____ consists of a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas.
Marketing research
In terms of market size and population growth rate, what factor impacts the marketing of goods and services?
Marketing to more rural populations is more costly than reaching urban areas.
GE's Ecomagination program, which doubles investments in clean research and development, is an example of using social responsibility to transform which stakeholder category?
Marketplace
Which of the following is another term for target return percentage?
Markup
_____ media channels, which include radio and television, are a good way to reach large numbers of anonymous audience members.
Mass
Which method is NOT appropriate for compensating a salesperson?
Mentoring
Which of the following intermediaries are included in indirect marketing channels?
Merchandise wholesaler Retailer
_____ is an extreme form of targeted marketing.
Micromarketing
Which of the following describes the use of a wireless network and portable devices that receive demand notifications to provide a speedy response?
Mobile task management
Which of the following are part of the atmosphere of a store?
Music Lighting
The majority of B2B buying situations can be described as which three of the following?
New buys Straight rebuys Modified rebuys
Troubling issues arise continually as which of the following emerge? New markets New controls on systems New technologies Transparency laws
New markets New technologies
The first step in the market research process is to define the objectives and research needs. What was Nike's primary objective in conducting this research?
Nike wanted to understand its female customers.
When marketers set communication objectives, choose media, and determine costs for each communication type chosen, they are using what IMC budget method?
Objective-and-task
_____ is a qualitative research method that entails examining purchase and consumption behavior through personal viewing or video camera scrutiny.
Observation
_____ data includes sentiment mining in social media and tracking shopper behavior in stores.
Observational
To stay competitive with other types of food retailers, conventional supermarkets have employed a number of different strategies. Which of the following is NOT a common strategy that many conventional supermarkets have adopted?
Offering an athletic shoe department
What practices are increasingly common among companies that want their employees to have happy family lives? Paying no higher than minimum wage Punishing sexual harassers Offering flextime Offering daycare
Offering flextime Offering daycare
Which of the following is most likely to be a value-driven firm? One that thinks about its customers but not its community or society One that brings goods to market when it is convenient for the firm One that collects scant data about its customers One that has active and engaging social media channels
One that has active and engaging social media channels
Which of the following is NOT an example of customer loyalty? Only purchasing dresses at Anthropologie Only purchasing organic products Only purchasing light fixtures at Home Depot Only purchasing holiday decorations from World Market
Only purchasing organic products
One of Netflix's original competitive advantages was its efficiency. The company delivered movies quickly and charged a relatively low cost for the service. Strategically, this is known as ________Blank excellence.
Operational
When marketers strive to get their customers the merchandise they want, when they want it, in the required quantities, and at a lower delivered cost than that of their competitors, they are hoping to achieve a sustainable competitive advantage through _____ excellence.
Operational
Which type of excellence is achieved through efficient operations, excellent supply chain management, and strong relationships with suppliers?
Operational excellence
Which of the following are components of a SWOT analysis?
Opportunities Threats Weaknesses
Which personal traits have managers and sales experts identified as important for success in personal selling?
Optimism Personality Empathy
_____ measure the number of times a website page is seen by any unique site visitor.
Page views
When a new product or service is launched, what type of pricing strategy attempts to attract customers quickly by offering a very low price at first?
Penetration pricing
What is used to display, in two or more dimensions, the positions of products or brands in the consumer's mind?
Perceptual map
When developing a marketing plan, what will a firm do immediately after developing its mission? Evaluate its internal opportunities Evaluate its employees' performance Perform a situation analysis using SWOT Create a yearly budget
Perform a situation analysis using SWOT
Which of the following are characteristics that make marketing services different from product marketing?
Perishability Intangibility Heterogeneity
What IMC strategy involves a two-way flow of communication between a buyer and a seller and is designed to influence the buyer's purchase decision?
Personal selling
What term is used to describe the communication between a buyer and seller in which the seller's goal is to influence the buyer to make a purchase?
Personal selling
If a manufacturer instructs a retailer on how to use a newly released product, this would be an example of the manufacturer getting involved with which of the following six Ps?
Personnel
Need recognition would be greatest in which situation?
Pete returned home from work to find that his refrigerator is broken and that his refrigerated and frozen food must be thrown out.
A convenient location and a presence on the Internet are both important characteristics of which of the marketing Ps for services?
Place
Brookstone is a retailer known for opening stores in airports, where they have a captive market. This is an example of employing which of the following six Ps to one's competitive advantage?
Place
Drag each action of a firm relating to conscious marketing to their corresponding stages of the marketing plan.
Planning <-> Determining how the firm plans to balance the needs of its various stakeholders Implementation <-> Deciding whether the firm should be engaging in particular marketing practices Control <-> Ensuring that all employees of the firm have acted ethically
What is the first component in the communication process?
Sender
Actions taken to get a good or service to a customer fall under which one of the Ps of retail strategy?
Processes
Drag each value function to the correct marketing mix component.
Product <->Creating value Price<->Capturing value Place<->Delivering value Promotion<->Communicating value
A smartphone manufacturer makes a new smartwatch that pairs well with its existing phones. This is an example of which growth strategy?
Product development
Which of the following are included in the four major growth strategies? Product development Market penetration Market development Market analysis
Product development Market penetration Market development
If a firm has positive results from market testing, the next step will be the _____ _____.
Product launch
_____ is the new-product development phase where Hope Springs decides that the flavor additive has enough market interest and the company will launch full-scale production and sales.
Product launch
When a customer purchases merchandise, it triggers a flow of information that will eventually reach which elements of the supply chain?
Product manufacturers Distribution centers Suppliers of raw materials
Once a firm recognizes a need, the firm will consider alternative solutions and develop a list of requirements to be given to potential vendors. What is the name for this process?
Product specification
The fourth stage of the B2B buying process has a number of mini-steps within itself. Which of the following is NOT one of the steps within the fourth stage?
Product specification
What term is used to describe advertising focused on informing, persuading, or reminding consumers about the company's specific offerings?
Product-focused
What are key characteristics of the introduction stage?
Profits are low Start-up costs are high
In the second step of the marketing research process, what factor determines the type of data needed?
Project objectives
The International Fairtrade Certification Mark is granted to products that do which of the following? (Choose every correct answer.)
Promote sustainable farming Improve environmental standards for producers
The integrated marketing communications process refers to which of the six Ps in the marketing mix?
Promotion
Which of the following factors typically influence the consumer decision process the same way each time?
Psychological Social
_____ is/are the personal gratification consumers associate with the product or service.
Psychological needs
What term describes the slightly exaggerated claims made by retailers?
Puffery
_____ research, such as a focus group, attempts to begin to understand phenomena of interest with broad, open-ended questions.
Qualitative
The tiny computer chips embedded in some products automatically transmit information to a special scanner. What are these chips called?
RFID
Which media outlet is a good choice for grocery and fast food advertisements because many consumers decide what to buy while enroute to the store?
Radio
Which of the following media are most appropriate for trying to reach large numbers of anonymous audience members?
Radio Newspapers
Which of the following is an accurate definition of the term data? -Raw numbers with no intrinsic meaning -Goals or benchmarks that a firm strives to achieve -Conclusions derived from the analysis of raw numbers -Methods used for collecting information on a subject
Raw numbers with no intrinsic meaning
What is most likely to deteriorate quickly if customers believe that they have not been treated ethically?
Relationships
Lilly went to the Yummy Fork for lunch, and when her food arrived, it was not what she ordered. She later posted a negative comment about the Yummy Fork on a blog. Which one of the five service dimensions was used by Lilly to determine she did not like the service by the Yummy Fork?
Reliability
Drag each definition to the corresponding dimension of service quality.
Reliability <-> Ability to perform the service dependably and accurately Responsiveness <-> Willingness to help customers and provide prompt service Assurance <-> Knowledge and courtesy by employees and their ability to convey trust and confidence Empathy <-> Caring, individualized attention provided to customers Tangibles <-> Appearance of physical facilities, equipment, personnel, and communication materials
What kind of advertising might firms use when products already have solid brand recognition and market acceptance and are in the maturity stage of their life cycles?
Reminder
_____ are the entire category of marketing intermediaries that move the product further downstream in the channel without significantly altering the form.
Resellers
Locational excellence is particularly important for which type of firm?
Retailers
Which are supply chain partners? Competitors Retailers Wholesalers Transporters Federal regulators
Retailers Wholesalers Transporters
_____ refers to a set of a business activities that add value to products and services sold to consumers for their personal or family use.
Retailing
Which of the following is NOT an actual distribution intensity level considered by manufacturers?
Retentive
Which outlets allow marketers opportunities to listen to their customers?
Review sites Personal blogs Social networks
To determine if an opportunity is attractive or unattractive for a firm, marketers can use an analysis of the external and internal environments such as through _____.
SWOT analysis
_____ promotions are special incentives or programs that encourage consumers to purchase a product or service and may include coupons, rebates, contests, free samples, or point-of-purchase displays.
Sales
What term describes all the employees who are responsible for selling products or services?
Sales force
Which of the following groups is directed and controlled through sales management?
Sales force
_____ includes the planning, direction, and control of personal selling activities.
Sales management
Free samples, point-of-purchase displays, sweepstakes, and contests are examples of what IMC strategy.
Sales promotions
_____ are special incentives or excitement-building programs that encourage consumers to purchase a particular product, often used in conjunction with advertising or personal selling programs.
Sales promotions
What are the primary duties of salespeople?
Sales support Getting orders Taking orders
Which of these falls into the category of general merchandise retailer? Citibank Staples Safeway supermarket 7-Eleven Sam's Club
Sam's Club (wrong)
Which stage in the consumer decision process comes immediately after need recognition?
Search for information
Suppose you work in the marketing department of a company and your boss, the marketing manager, asks you to take on a marketing research project. "But I'm not giving you any money for data collection," your boss says. "You can just use secondary data; they can meet all our needs and we can get them for free." Which of the following is the best argument against your boss's decision not to give you any funds for the research?
Secondary data may not be specific enough to meet the needs of the research.
STP includes which of the following? (Choose every correct answer.)
Segmentation Positioning
_____ distribution helps a seller maintain a particular image and control the flow of merchandise into an area, which makes this approach attractive to many shopping goods manufacturers, such as most apparel items, home items, branded hardware and tools, and consumer electronics.
Selective
_____ is(are) the image people have of themselves. An example of this would be if Sodexho offered an organic line of fruits and vegetables to appeal to consumers who perceived themselves as being super health-conscious.
Self-concept
Which of the following statements best describes services?
Services are actions or performances carried out for and with customers and typically involve a sequence of steps, actions and activities.
When a company undertakes conscious marketing, what does it focus on? Shareholders Superior distribution Stakeholders Quick profits
Shareholders Stakeholders
Which law was passed to prohibit monopolies and other activities that would restrain trade or competition?
Sherman Antitrust Act
Simone is an insurance agent. Though the area Simone covers is prone to earthquakes, she has been instructed by management to tell homeowners earthquakes are not a problem and to suggest that basic earthquake damage is covered in the standard homeowners policy even though this is not true. If legal action arises, who will be held accountable?
Simone's employer Simone
Which type of economy is best suited to a direct, manufacturer-to-consumer supply chain?
Simple
Many successful American firms have undertaken actions that focus on goals beyond financial profitability, including which of the following? Social responsibility Environmentally friendly options Outsourcing as much labor as possible Lobbying for corporate tax breaks
Social responsibility Environmentally friendly options
Which key stakeholder demands that firms behave responsibly?
Society
Terence realizes that in order to fulfill customers' expectations for his florist business, he must purchase a customized delivery van. This illustrates the requirements for which stage in the B2B process? Multiple choice question.
Stage 1: Need recognition
Which of the following is a market entry strategy in which independent companies form a partnership to collaborate in the foreign market but do NOT invest in each other?
Strategic alliance
_____ refers to collaborative relationships between independent firms, but the partnering firms do not invest in one another.
Strategic alliances
Which component of a print ad should use short, simple words and describe the primary benefit of the product?
Subhead
Unlike Estée Lauder, which is a large and established firm with the resources to provide its own sales force to sell its products, what will smaller firms probably need to rely on to help to distribute their products?
Supply chain intermediaries
_____ packaging is better for the environment than traditional packaging.
Sustainable
Which type of marketing takes into account all stakeholders?
Sustainable marketing
Which of the following is a market testing method that offers a strong predictor of product success based on actual purchasing behavior?
Test marketing
What message is conveyed to the customer when the salesperson makes contact immediately after the transaction has been completed?
That the salesperson is empathetic and responsive
_____ provides a detailed, multi-pronged "Statement of Ethics" that can serve as a foundation for marketers.
The American Marketing Association
Which of the following describes the core customer value of a product? -The basic benefits consumers are seeking -Attributes such as design/features, quality level, and packaging -The price range -Product warranties and financing
The basic benefits consumers are seeking
A company that manufactures shampoo has been unable to persuade a large retail outlet to purchase its products, because the retailer makes and sells mostly its own brand of shampoo. What marketing problem has the manufacturer encountered?
The channel is vertically integrated.
What is one reason Sara Lee developed a new white bread with whole grains?
The company saw consumer needs changing.
Which of the following refers to the basic problem-solving benefits that consumers seek in a product?
The core customer value
Fountainville Credit Union's new weekend hours have scored above the highest point in the zone of tolerance. What does this mean?
The firm has exceeded customer expectations on that dimension.
Suppose that a fictitious toy company knowingly manufactured educational toys made from dangerous materials, while at the same time donating large sums to a nonprofit organization researching educational techniques. Which of the following is a correct statement?
The firm is behaving unethically but is socially responsible.
To whom are a lump sum and royalties paid when a franchise opens?
The franchisor
What would happen to the global economy if all marketing ceased? The global economy would stay about the same. The global economy would slightly worsen. The global economy would improve. The global economy would plummet.
The global economy would plummet.
Which statement regarding the development and implementation of a digital marketing campaign is true?
The images and messages used in a digital marketing campaign need to be updated almost constantly.
Which is the best definition of price?
The overall sacrifice a consumer is willing to make to buy a product or service
Which statement about changing gender roles in the U.S. is accurate?
The percentage of seats in Congress held by women has held steady.
When researchers define the objectives and needs of their project, what are they trying to establish?
The problem that needs to be solved
Which statement about strategic planning is true? The process can move back and forth between steps, depending on the situation. Skipping a step of the process is fine, but the steps should not be performed out of order. The steps of the process must always be followed in order. A strategy created without following the steps in order usually ends up failing or doing poorly.
The process can move back and forth between steps, depending on the situation.
_____ defines the stages products move through as they enter, get established in, and ultimately leave the marketplace.
The product life cycle
After the pre approach phase is completed, what is the next step in the personal selling process?
The sales presentation
Marketers work to determine the key message they want to send to whom?
The target audience
Which of the following are some details used to evaluate the general economic environment? Transportation The trade deficit or surplus Uncertainty avoidance The GDP
The trade deficit or surplus The GDP
When developing marketing plans, what should a firm consider about their competition?
Their likely reaction
What must marketers understand about their competition? (Choose every correct answer.)
Their strengths Their likely response to marketing activities Their weaknesses
Which statement in true about business relationships in supply chains?
They are based on meeting each other's needs.
Which of these is not an advantage of secondary data? They are easy to customize. They can sometimes be obtained from the company itself. They can be obtained quickly. They are often inexpensive.
They are easy to customize.
Customers commonly stop supporting a company for which of the following reasons? (Select all that apply.) The company's profit margins are too low. They can no longer trust the company. The company is growing rapidly. The company is acting irresponsibly.
They can no longer trust the company. The company is acting irresponsibly.
Which of the following is true of the most loyal customers?
They generally use multiple channels to make purchases.
STP analysis occurs during which step of the marketing planning process?
Third
Which of the following products would benefit the most from a continuous type of advertising schedule?
Tide brand of laundry detergent
Why would a firm record the number of abandoned virtual carts on its website?
To assess the conversion rate
What is the basic goal of any website?
To convince users to engage with content
After establishing overall objectives, why do marketers then use a particular method or combination thereof to identify and describe market segments?
To help understand the profile of each segment
What is the purpose of a white paper?
To provide product or service information in an easy-to-read informational context
Which of the following are among the principles of conscious marketing? To expand the firm's operation To recognize the greater purpose of marketing To consider stakeholders and their interdependence To rely only on marketing to financially advance the company To understand that decisions are ethically based
To recognize the greater purpose of marketing To consider stakeholders and their interdependence To understand that decisions are ethically based
The _____ highlight(s) social issues associated with meeting basic needs, such as ensuring consistent, universal access to sufficient food, clean water, health care, and sanitary living conditions, mainly by eliminating extreme poverty.
UN Sustainable Development Goals
What is one of the two levels on which cultures exist?
Underlying values, such as beliefs and thoughts
Drag and drop each of the following targeting strategies against their corresponding examples where such strategies can be employed.
Undifferentiated <-> A firm produces basic commodities like sugar, milk, and packaged ice. Differentiated <-> Proctor and Gamble offers Pantene, Head and Shoulders, Aussie, and Wella shampoos. Concentrated Concentrated <-> An infomercial firm sells a gadget to better fry and flip eggs in cooking. Micromarketing <-> A florist designs bouquets for a bride and five attendants.
In which type of diversification strategy does a firm enter into an entirely new business?
Unrelated
Which of the following are roles within a buying center? User Decider Vendor Reseller Initiator
User Decider Initiator
How is information generally gathered in a survey?
Using a questionnaire
Unethical marketing behavior includes which actions? Using false advertising Producing multiple sales campaigns Providing fair sales promotions Misrepresenting company earnings
Using false advertising Misrepresenting company earnings
Which of the following is LEAST effective when building a sustainable competitive advantage?
Using only a single strategy
Firms position products based on which of the following? Value Salient attributes Psychographics Demographics Symbols
Value Salient attributes Symbols
How is total cost calculated?
Variable costs plus fixed costs
Using metrics to evaluate a supplier of raw materials to a manufacturer is part of which stage of the B2B buying process?
Vendor performance assessment
Adding new products is MOST likely to prompt consumers to purchase in which of the following industries?
Video games
Which of the following characteristics is NOT one that distinguishes services from products?
Volatility
What company accounts for two-thirds of all full-line discount store retail sales in the United States?
Walmart
What is an example of a contextual element?
Website design
According to the case, only _____ offers its members group meetings. These groups serve as _____ in that they can offer information, provide rewards for ongoing weight loss, and thus enhance a member's self-image.
Weight Watchers; reference groups
What is the primary question a mission statement should answer?
What type of business are we?
Limited problem solving is most likely to occur under which condition?
When the consumer has a purchase decision that calls for, at most, moderate effort and time
What is the first decision to be made when considering merchandise flow?
Where the merchandise will go
Imagine that a firm sends out a message in the form of a print advertisement for a product. Which element is most likely to contribute to how receivers decode the message differently?
Whether or not the receiver is a user of the firm's product
A software development firm has built a program that can help businesses more efficiently target advertisements toward those who are most likely to buy. The sales team wants to introduce the product to potential clients but doesn't want to overwhelm them with a pushy sales pitch or overly technical language. To do this, they should create which of the following?
White paper
Which of the following is NOT a type of retailer that falls under the general merchandise retailing category?
Wholesalers
Information in a supply chain flows to and from which of the following?
Wholesalers Distribution centers Manufacturers
Which events helped create a situation in which manufacturers produced more than customers could buy? World War II The Great Recession The Great Depression World War I
World War II The Great Depression
Which type of product's sales would be most likely to benefit most from using coupons?
Yogurt
Sal wants to create a vivid experience of his company's product, a floor-sweeping robot, for online consumers. Which medium would be the most useful to him?
YouTube videos
Assume the demand for cellular phone service, a necessity with few substitutes, is 0.2. If T-Mobile raised its rates by 10 percent, we would expect
a 2 percent decrease in quantity demanded.
Customers must see value in cellular phone service before they are willing to exchange time or money to obtain it, but not all customers see the same value in a product. For T-Mobile to analyze how many units will be sold at any given price point, it draws on
a demand curve.
In the grocery store, you can see the General Mills Old El Paso name on taco shells, tortillas, rice, seasonings, and sauces. Having the Old El Paso name on various products is an example of the use of
a family brand.
What characterizes a market with the oligopolistic competition?
a few dominant firms
A franchise is a contractual agreement between _____.
a firm or individual and another firm or individual
Vicki knows that Vacation Suites is likely to raise additional reservations about the price and technology. She needs to convince Vacation Suites that AI Information Solutions' robot concierge represents
a good value.
According to the video, 5 Bucks prefers to maintain greater control afforded by _____ and is willing to take on greater financial risk to continue its global expansion into India.
a joint venture
A relational orientation is based on the philosophy that buyers and sellers develop
a long-term relationship.
A marketing plan includes all of the following EXCEPT _____.
a plan on how to pitch investors
Services are deeds or performances done for and with customers. They typically are _____ involving a sequence of steps or actions.
a process
A product perceived to be better than most substitutes is said to have _____, which should speed up the diffusion process.
a relative advantage
Firms prefer to manufacture in a country that has _____ because it signals a greater opportunity to export products to more markets.
a trade surplus
Managers and sales experts agree that certain personal traits are necessary to be a successful salesperson. Which personal trait is least important for a salesperson?
accomplished
In the AIDA model, the do stage is the _____ stage.
action
The case describes a feature of the Pepsi app allowing users to scan emojis to win prizes. This tactic aims to take consumers to which step of the AIDA model?
action
Luis, a professional chef, has carefully developed a set of product attributes for his new line of seasoning mixes, such as the brand name, features/design, and quality level. Luis is developing the
actual product.
Vashti and her advertising team have decided on the message, type of ad, and appeal. Their attention now shifts to
ad creation.
Customer service is best represented by which of the following statements? Customer service _____.
adds to marketing efforts by helping to meet the customers' needs and wants
In the ethical decision-making metric, the question that asks "Would I want the person I admire most to see me doing this?" applies to the
admired observer test.
Early _____ are the category of consumers who begin to use a product or service immediately following innovators.
adopters
New products and services that consumers accept quickly will have a high _____ rate early in their product life cycles, which will accelerate the diffusion process across the various stages.
adoption
When a manufacturer ships lawn mowers to Home Depot's distribution center, it sends a(n) _____ to tell the retailer exactly what to expect in the shipment.
advanced shipping notice
The Apple iPod was readily accepted by consumers in part because it was an easy way to listen to music anywhere, with substantial improvements over portable CD players. This is an example of a relative _____ within the diffusion process.
advantage
Scion's communication methods included skywriting and projecting images onto the sides of buildings. These are examples of which integrated marketing communications element?
advertising
Unlike PR, _____ is a paid form of communication, delivered through media from an identifiable source.
advertising
The bus stop adventure zones discussed in the case are an example of
advertising.
Generational cohorts corresponds to which demographic that is typically used to identify consumer markets?
age
When Ben & Jerry's Ice Cream tests all its proposed new flavors on its own employees at its corporate headquarters in Vermont, it is using
alpha testing.
In the tech industry, only a few firms dominate. The best description of this type of market is
an oligopoly.
"Freemium" and "paid" are examples of _____.
app pricing models
Firms need to continue to innovate because customer needs _____.
are constantly changing
An advantage of secondary data is that, compared to primary data, they _____.
are usually available at a lower cost
Amazon's Alexa is just one of many examples of how companies are using _____ in their marketing efforts.
artificial intelligence
Firms that use _____ rely on computer systems to perform tasks such as speech recognition, decision making, or translations.
artificial intelligence
Price fixing is the illegal tactic of cooperating with other firms to _____ prices.
artificially establish
Kyle is highly knowledgeable about new developments in computer technology, since he reads everything he can find about the subject. Typically, being the first to try out new computer parts and models, he would be classified _____ in terms of the diffusion of innovation curve.
as an innovator
Often the best way for Vicki to handle her customers' reservations is to relax, listen, and
ask questions to clarify the issues.
When Adidas makes endorsement deals with athletes and other celebrities, the company wants to make sure that the endorser's personality fits the brand's desired image. In other words, Adidas wants to ensure that the endorser creates the right type of brand.
associations.
Discount Baby Stuff, Inc. focuses on all aspects of service quality. The corporate office conveys trust by empowering its employees. If a customer is unhappy with a purchase, the employees are given discretionary resources to rectify the problem. Which service characteristic is the store focusing on?
assurance
The five distinct service dimensions that customers use to evaluate how well a service meets or exceeds their expectations are reliability, responsiveness, empathy, tangibles, and
assurance.
The third step of the market segmentation process is to evaluate segment _____, which is based on such criteria as its profitability, responsiveness, and reachability.
attractiveness
In a(n) _____ buying center, there may be many participants, but one person makes the decision alone.
autocratic
Suppose many young consumers that Scion was targeting with the company's nontraditional ads had never heard of the Scion. The main goal of Scion's initial communications would have been to build
awareness.
Customers have begun to complain to Jackie that her car repair shop does not provide shuttle service, which many customers need. The best way for Jackie to close this knowledge gap is to
be more realistic about the services it can provide and at the same time manage customer expectations effectively. (WRONG)
The Y is working on a research project to anticipate customer attitudes toward a proposed health-related service to offer. It has worked with a market research company to determine the answers that are needed and have created a detailed design of the project. Their next logical step will be to
begin to collect data.
The _____ segmentation method is most closely related to providing value by satisfying customers' needs and wants.
benefit
The social-media equivalent of a personal journal or diary is called a(n) _____.
blog
A salesperson's compensation can be made up of some combination of salary, commission, and _____, which are payments made at a manager's discretion when the salesperson achieves certain goals.
bonuses
According to the case, Fisher-Price responded to criticism of the Apptivity Seat by posting a note to parents on the product website. Fisher-Price could also have decided to modify the product to limit screen time, withdraw the product from the market, or do nothing at all. During which step of the Ethical Decision-Making Framework would Fisher-Price have generated and considered these (and other) options?
brainstorm and evaluate alternatives
The set of assets and liabilities linked to a brand that add to or subtract from the value provided by a product or service is _____ equity.
brand
It is the beginning of the football season for the local college team. Martha redecorates the Coffee Collective with a theme that reflects the college team, including pictures of the players, coaches, and fans. This represents which component of brand equity?
brand associations
If Adidas were to conduct a survey to find out what percentage of consumers could identify the "three stripes" logo as belonging to the Adidas brand, which aspect of brand equity would they be measuring?
brand awareness
Many consumers in the United States use the term "Band-Aid" to refer to all types of bandages and wound care products, regardless of the brand. This indicates that Band-Aid has done a great job at building
brand awareness.
The first step in developing _____ for the Coffee Collective would be to develop positive brand awareness and an association of the brand in consumers' minds to give the brand an identity.
brand equity
A laundry detergent company also makes and markets fabric softener, laundry stain remover, and spray starch all under the same name. The company is applying a _____ strategy.
brand extension
When Band-Aid decided to expand into ointments, gauze, tape, and antibiotic treatments, the company engaged in what type of branding strategy?
brand extension
Guitar Center reinforces its image of selling high-quality musical equipment in its stores and catalogs and on its website. This is an example of providing a consistent _____ across all channels.
brand image
It is very important for the retailer to provide a consistent _____ across all channels.
brand image
A contractual arrangement between firms where one firm allows another to use its brand name, logo, symbols, and/or characters in exchange for a negotiated fee is called _____.
brand licensing
When K-Mart paid Martha Stewart (famous for her business related to lifestyle and the home) a fee in return for permission to introduce a line of towels and other housewares bearing Stewart's name, it was an example of _____.
brand licensing
Star Wars memorabilia has been continually successful since the first film was released in the 1970s. The most recent film and television releases, such as The Mandalorian, have led to a massive increase in sales. This example shows the power of
brand licensing.
In response to public outcry over racial stereotyping, PepsiCo renamed and redesigned its classic brand of Aunt Jemima's breakfast brand, which featured the image of a Black woman based on a minstrel character. This is an example of a _____ strategy.
brand repositioning
The strategy in which marketers change a brand's focus to target new markets, or realign the brand with changing market preferences, is known as _____.
brand repositioning
To find out how many units sold will generate just enough revenue to equal the total costs, Harrison's solar panel company must look at
break-even analysis.
Manufacturers, resellers, institutions, and governments are considered the main organizations that make up _____-to-_____ markets.
business or B business or b
Personal selling is an important component of many IMC programs, especially in _____ settings.
business-to-business (B2B)
Suppose that Adidas collaborated with the NFL to create a series of sports shoes and apparel incorporating the colors and logos of the various NFL teams, and bearing both the Adidas and NFL brands. This would be an example of what branding tactic?
co-branding
The practice of marketing two or more brands together on the same package or promotion is known as _____.
co-branding
In an effort to reach BuzzFeed's audience of more than 200 million readers, Best Friends Animal Society teamed up with the online publication to create and publish a video interview with film star Emma Watson in which she answered fan questions while playing with kittens that were up for adoption. This is an example of
co-branding.
Most universities publish a set of rules about handling academic problems such as cheating and plagiarism. Students who violate these rules are often referred to the university's Honor Committee that evaluates the charges and decides what, if any, punishment is appropriate. This set of written rules is an example of a(n)
code of ethics.
What are the three components that make up a person's attitude?
cognitive, affective, behavioral
In order to obtain the best results from its segmentation efforts, McDonald's focuses on
collecting information.
The step in the marketing research process that follows research design is _____.
collecting the data
Padma works at an electronics store. In addition to her salary, she receives 2 percent of the sales dollars she brings in each month. This extra 2 percent is called a
commission.
Closing the sale means obtaining _____ from the customer to make a purchase.
commitment
When closing the sale, the customer _____ making a purchase.
commits to
If FedEx's website and advertising promised package delivery by 9:00 a.m., but FedEx could only deliver packages that early about half the time, this would be an example of a(n) _____ gap.
communication
If the Americana Hotel has successfully closed the standards gap, the knowledge gap, and the delivery gap in providing customers with service, it is still necessary for the hotel to close the _____ gap.
communication
Ryanair advertised the lowest rates in Europe with fares of $12 between Paris and Munich. However, when Bill arrived at the airport, he had to pay $28 in taxes, $25 for one small carry-on bag, $6 for a non-alcoholic beverage, and $2.50 to use the restroom on the plane. Between Ryanair and the customer, there is a _____ gap.
communication
Which of the seven critical elements of online marketing is best addressed by thought-sharing sites?
community
"Crash the Super Bowl" was designed to attract customers with similar interests, also known as
community building.
The most important immediate environmental factors that impact consumers are the _____.
company capabilities, competitors, and corporate partners
If a company chooses to sell through a(n) _____, this means that it employs its own salespeople.
company sales force
Negative user comments about the way a Google Glass device looks while worn would be classified as a problem with which factor affecting product adoption speed?
compatibility
Consumers who use Yelp reviews to measure the tradeoff between quality and price of different restaurants are using what type of consumer decision rule?
compensatory
Market positioning is done so that the target customers have an understanding of the product offered by the company in comparison with _____ products.
competing
Since 2006, when Tesla Motors revealed its Roadster and began the market for the modern version of the all-electric car, consumers have more and more choices. Which variable of the immediate environment is primarily affected by this issue?
competition
Marco, the owner of the Upcycled Dog, has hired a marketing consultant to help him identify the best growth strategy for his business. The consultant explains that one or a mix of strategies could work, depending on Marco's goals; those strategies include all of the following except
competitive advantage.
Though confusing to customers, U.S. Cellular priced its bundles very similarly to its competitor's prices. Which competitor-oriented pricing strategy did U.S. Cellular use in this example?
competitive parity
If Seventh Generation were analyzing the consumers' immediate environment, which of the following would it study and research?
competitors
Your town's oldies radio station has selected one primary target market and focuses all its energies on providing a service that fits that market's needs. The station is using a(n) _____ targeting strategy.
concentrated
A _____ is a written description of a product and its technology and is presented to potential buyers or users to obtain their reactions.
concept
If Xiu Li organized focus groups to discuss the idea of flavored additives with Hope Springs customers, this would be an example of
concept testing.
Janelle's product-development team has provided brief written descriptions of the new toy robot they're developing and the customer needs it would satisfy, including visual images of what the product would look like. The team is engaging in
concept testing.
What external change led to Dole's new focus on nutrition?
concerns about obesity
The outcome of social media that satisfies humans' innate need to connect with other people is known as the _____ effect.
connected
The video refers to many SBC's small customer segments (or niches), and a desire to give each niche a special place to visit, find others who share their interests, and feel that they belong. To which element of the Wheel of Social Media Engagement does this refer?
connected effect
When Doug Rauch decided to leave Trader Joe's and open a grocery store that sells fresh produce and prepackaged meals at affordable prices, it was an example of _____ leadership.
conscious
Recognizing marketing's greater purpose is one of the overriding principles of
conscious marketing.
At West Meadows farming cooperative, all members of the coop must reach a collective agreement regarding the purchase of equipment. This is reflective of a(n) _____ buying center.
consensus
If all the stakeholders at the hospital reached a collective agreement that they would support purchasing a GE X-ray machine, they would be a(n) _____ buying center.
consensus
A source of inventory for Daily Table is conventional supermarkets and restaurants. It also visits local farms and fisheries to source excess produce and fish. Daily Table works with these companies to save food that would otherwise go to waste. Which aspect of conscious marketing is being focused on by these actions?
consideration of stakeholders and their interdependence
Let's say that Fisher-Price chooses to engage in conscious marketing in a future iteration of the Apptivity seat. As a first step to that end, it considers all of the individuals and groups involved to ensure that no decisions it makes inflicts harm or damage upon them. Which principle of conscious marketing does this action represent?
consideration of stakeholders and their interdependence
A major goal of HSN's IMC is to deliver a(n) _____ message.
consistent
Fast Bean sells coffee to Federico to brew and drink at home. This is an example of business-to-______ marketing.
consumer
In all marketing efforts, the _____ is at the center.
consumer
Since Mars, Inc., created www.mymms.com, it has been able to collect
consumer information.
Sara Lee builds its brand on
consumer needs.
It is important for modern firms to build and maintain _____ by conducting ethical and transparent transactions.
consumer trust
A perceptual map is used in developing a positioning strategy in order to display the position of the products or brands in the _____ mind.
consumer's
The video refers to "follower growth" as one of the key measures SBC uses to evaluate social media success. "Follower growth," as described in the video, is most closely related to which measure of social media engagement discussed in the text?
conversion rate
One important metric when analyzing social media effectiveness is _____, the percentage of visitors or potential customers who take the action the marketer wanted them to take.
conversion rates
In integrated marketing communications, encoding is the process of
converting the sender's ideas into a message.
Dole targeted its audience with the idea that "Dole Fruit Bowls are fun to eat, healthy, and great on the go." This was a deviation from its traditional strategy of focusing on recipes. Dole's "Life Is Sweet" campaign represents which step of designing and executing a successful advertising program?
convey the message
When a ride-hailing service determines that some consumers use its app for getting home from parties while others use it for commuting to work, it is most likely assessing the _____ of its services.
core customer value
Which element of the 7C framework for online marketing is the basis of any marketing strategy?
core goals
A smartphone manufacturer collaborates with a company that makes lithium-ion batteries to ensure that their phones have the longest possible battery life. The battery maker is considered the smartphone company's _____ partner.
corporate
Dell has several blogs. Its flagship blog is Direct2Dell, which is a _____ blog.
corporate
Many businesspeople believe that marketing should focus on factors other than financial goals, such as ______.
corporate citizenry
If a car company collaborated with a sheet metal supplier, the car company would be the supplier's _____.
corporate partner
For every consumer who purchases a pair of TOMS shoes, the company promises that a needy child will receive a pair of shoes. TOMS shoes is actively engaging in
corporate social responsibility.
Value-oriented marketers measure the benefits that customers perceive against the _______ of their offerings.
cost
One reason Taco Bell raised its prices was the result of an increase in
costs.
A(n) _____ is an offer that reduces the price of specific items at the point at which the items are purchased.
coupon
Informative advertising is used to
create and build brand awareness.
The ethical foundation of Newman's Own Organics _____ business opportunities.
creates
Whether targeting consumers or resellers, marketers need to focus on
creating value for their customers.
Package size is a(n) _____ preference.
cultural
A firm's organizational _____ demonstrates the values, traditions, and customs that moderate its employees' behavior.
culture
Organizational _____ refers to a set of unspoken guidelines that employees share in various work situations.
culture
The shared meanings, beliefs, morals, values, and customs of a group of people constitute its
culture.
According to the video, which of the following is most important for Staples?
current markets
What type of information do companies analyze when conducting sentiment analysis?
customer comments
The case describes local initiatives used by Dunkin' Donuts to try to build customer loyalty. Which of the macro strategies to build sustainable competitive advantage is Dunkin' Donuts pursuing?
customer excellence
Companies that develop customized business software often work closely with their users when installing their products. This close contact often creates new product ideas through
customer input.
U.S. Cellular sets prices based on adding value to its products and services. Which pricing orientation does this reflect?
customer orientation
Doing the "right thing" for the customer during a conversation should naturally bring about a(n)
customer purchase.
McDonald's organizes its marketing team to align with its
customer segments.
Taco Bell's predominant pricing strategy is
customer-oriented.
Ethical and legal issues that salespeople need to worry about include the relationship between the sales manager and the salesperson, conflicts between corporate policy and the sales rep's personal ethics, and issues that arise in the salesperson's interaction with _____.
customers
Band-Aid allocated $5 million to the promotion of the Finger Care Tough Strips as a commitment to increase the product _____ of the existing finger care product line.
depth
Consumers' differing attitudes toward crackers and chips were discovered during
data analysis.
Modern marketers use ______ to focus how they approach their customers and market their products.
data analytics
Instead of using survey information, Martha decides she would rather use _____ to find hidden information within her customer relationship management database to find links between spending habits and which types of entertainment should be marketed by the Coffee Collective.
data mining
When merchandise is sold, stores compile data about the purchase. Then the data is entered into a huge database known as a(n) _____.
data warehouse
Suppose CVS wanted to discover how often customers buying baby diapers also purchased baby wipes. Which technique would help answer this question?
data warehousing (wrong)
The second step in the marketing research project involves design. In this step, researchers identify the type of _____ needed and work out the type of _____ necessary to collect it.
data; research
In the United States, it is considered unethical and illegal for advertisements to _____ the consumer so much that the person is harmed.
deceive
The analyst prepares the results to present them to a firm's _____ as a final step in the marketing research process. Multiple choice question.
decision makers
An example of inflation would be when increasing prices cause the purchasing power of the dollar to _____.
decline
For one person, the Taco Bell logo might mean a dieter's worst nightmare, but for another it can mean a great meal. This exemplifies the fact that each receiver may _____ a given message differently.
decode
A frozen foods company decided to stop making frozen waffles. The firm has
decreased its breadth.
With its reinvented website, Ashley Stewart's customers find bright colors, and stylish models sporting the latest trends. The website promotes web-exclusive collections to customers that are not available in the "brick and mortar" stores. Which benefit of omnichannel retailing does this highlight?
deeper and broader selection
A mission statement _____.
defines the scope of activities a firm plans to undertake
When a firm considers its overall objectives and considers the type of business it is in, it is engaged in which step of the marketing planning process?
defining the mission
Hae-Sook has joined the marketing department of an electronics retailer that will be exploring the market potential for a new product. What will be the first step in the marketing research process that Hae-Sook's team will undertake?
defining the objectives and research needs
If Martha wants to determine whether or not she should offer open mic night at the Coffee Collective as part of the coffee experience, this would be an example of
defining the research objectives.
Marketing is the activity, set of institutions, and processes that create, capture, communicate, and _____ value.
deliver
Marketing is the activity, set of institutions, and processes that create, capture, communicate, and ______ value.
deliver
The case discusses both the advantages and the disadvantages of the Uber rating system. Uber's use of ratings by customers to eliminate low-rated drivers is intended to address which of the gaps in the Gaps Model?
delivery gap
The graph that shows how many units of a product or service consumers will want during a specific period at different prices is known as the _____ curve.
demand
By appealing to the different needs/wants of various ethnic groups, McDonald's is using _____ segmentation.
demographic
Generational cohorts, ethnicity, and gender are all considered part of _____ macro-environmental factors.
demographic
When Julie, the marketing executive for Hope Springs, determined that market segments existed with sufficient disposable income to pay a premium for bottled water, she determined this by examining _____ factors.
demographic
When defining market segments for its kitchen tools and cookware products, Just for Cooking Company identifies groups based on characteristics such as age, gender, income, and education. What type of market segmentation is this?
demographic
Hope Springs purchases many products from suppliers in the course of doing business, including empty water bottles. The number of bottles Hope Springs will need each month depends on the number of bottles purchased by customers. This is an example of
derived demand.
If consumers are using health care services at a higher rate than in the past, health care providers will need to purchase more inputs, ranging from X-ray machines to bandages. This represents
derived demand.
The news began airing coverage of accidents that occurred in Ford vehicles. This extensive coverage created fear for consumers, causing them to purchase fewer Ford vehicles. This is an example of
derived demand.
Darius considered all shoe stores to be roughly equivalent in most ways; however, he considered Shoe Carnival stores to have an exceptional level of customer service. Customer service, therefore, would be considered a _____ for him in evaluating shoe stores.
determinant attribute
Sharon is researching different weight-loss programs. She is evaluating each program's costs, ease of use, group support, and variety of choices. In the decision process, these four program differences that Sharon is evaluating are called
determinant attributes.
Which of the following is not one of the three phases of the strategic marketing process?
determination phase
Once a salesperson has learned about the customer, the next step is to conduct additional research and _____ for meeting with the customer.
develop plans
If one firm in an industry decides to develop a corporate social responsibility program, its competitors are often forced to _____.
develop their own CSR programs
Global marketing strategies includes two elements: identification of the target markets and _____.
developing a competitive marketing mix
During the preapproach stage, a salesperson usually conducts additional research about prospects and
develops plans for meeting with the customer.
Branding provides a way for a firm to _____ its product offerings from those of its competitors.
differentiate
Sodexho has identified six unique segments: Metro Fusion, Main Streamers, Fun Express, Time Liners, Dream Catchers, and Trend Setters. Sodexho is working on developing product offerings that meet the needs of each of these types of market segments. This is an example of what type of segmentation strategy?
differentiated segmentation strategy
The process by which the use of an innovation, whether it be a product or service, is spread throughout a market group over time and over various categories of adopters, is known as _____.
diffusion of innovation
Having no intermediaries between the buyer and seller is a defining characteristic of a(n) _____ marketing channel.
direct
What type of marketing uses a variety of forms to communicate directly with target customers to generate a response or transaction?
direct
One of the advantages of _____ as a global market expansion strategy for 5 Bucks would be maximum potential profits and the greatest possible control over business operations.
direct investment
Some countries require all businesses to be over 50 percent owned by its citizens. If McDonald's wants to expand into a country with this regulation, which of the global entry strategies would not be an appropriate choice?
direct investment
Telephone calls, mailed flyers, mailed catalogs, and e-mails can all be considered part of _____.
direct marketing
In response to immediate customer demand during the pandemic, a sports apparel company was able to manufacture and market face masks with the logos of teams that won their playoff games, largely because it made skilled use of a(n)
direct marketing channel (WRONG)
The increased use of customer databases has enabled marketers to identify and track consumers over time and across purchase situations, and has contributed to the rapid growth in
direct marketing.
A _____ center is a facility where goods are received, stored, and shipped to company stores.
distribution
The case describes McDonald's using motorbike delivery services in cities where real estate is expensive. This is one element of the company's global _____ strategy.
distribution
A _____, which may be operated by retailers, manufacturers, or distribution specialists, is a facility for the receipt, storage, and redistribution of goods to company stores.
distribution center
If Walmart purchased water from Hope Springs for sale in its retail stores, containers of water might be temporarily stored in a facility for the receipt, storage, and redistribution of goods. Such a facility is called a(n)
distribution center.
Initially, M&Ms were sold at many different types of retail outlets. Traditionally, retailers included all of the following except
distribution center.
Bailey's dinner at East Side Fusion Cuisine was delivered cold and was not what she had ordered. She wants to be compensated a fair amount for this mistake. This is the idea behind
distributive fairness.
One advantage of product innovation is that a firm can expand into different product categories. The point of the risk _____ strategy is that if some products in one category are competing poorly, others in another category could be doing very well.
diversification
Which growth strategy is being used when a firm introduces a new product or service to a market segment that is currently not being served by the firm?
diversification
Marco's marketing consultant realizes that the Upcycled Dog has a strong product breadth; to manage the impact of the rising and falling sales of individual products, however, the consultant suggests that Marco consider offering customers a pet grooming service. This category of growth strategy is called
diversification.
The final step in the social media engagement process is known as the _____ stage.
do
Newman's Own Organics is considered a socially responsible company because it
donates to charity.
Using predatory pricing, a firm sets a very low price for one or more of its products with the goal of _____.
driving its competition out of business
Theaters that offer lower ticket prices shortly before curtain time to fill empty seats are utilizing what type of pricing tactic?
dynamic pricing
Carissa enjoys novelty and her friends consider her an opinion leader. But as a(n) _____ she is not the first to purchase new product innovations.
early adopter
If the _____ buying group is relatively small, the number of people who ultimately adopt the innovation likely will also be small.
early adopter
Along the diffusion of innovation curve, _____ make up the second group of consumers to adopt an innovation; they tend to be leaders in a social setting.
early adopters
The _____ _____ of users representing approximately 34 percent of the population on the diffusion of innovation curve is crucial because few new products and services can be profitable until this large group buys them. (Enter one word in each blank.)
early majority
If a firm is looking at market size and population growth rate, which component of a country market analysis does this represent?
economic analysis
The Russian market is an attractive one for McDonald's in part because of a growing middle class with money to spend on dining out. This is an example of which aspect of a country's market assessment?
economic analysis
Red Bull uses social media extensively to promote its edgy brand image, but according to the case it seems to do very little on social media to communicate information about its actual product. Based on this observation, which element of the 4E framework seems least important to Red Bull?
education
When airline management stands behind their gate and ticket agents if passengers become angry or hostile about flight delays, management is providing
emotional support.
According to the case, Lyft attempts to differentiate itself from Uber primarily through which of the building blocks of service quality?
empathy
Lake General Hospital uses patient questionnaires to ensure that the bedside manner of each of its doctors meets patient needs, thus monitoring the _____ dimension of service quality.
empathy
FedEx gives its employees significant discretion in taking action to solve customer problems. This is referred to as
empowerment.
In the 4E framework, Dell understands the importance of _____, which leads to action, the potential for a relationship, and possibly even loyalty and commitment.
engagement
A joint venture is formed when a firm _____ a new market and _____ its resources with those of a local firm to form a new, shared company. Multiple choice question.
enters; pools
The value of a brand can be calculated and compared to other brands in the form of brand _____.
equity
There might be some situations where there is inconsistency between the corporate policy and salesperson's personal _____ comfort zone.
ethical
A firm whose employees engage in honest transactions but that does not contribute to the larger community is _____.
ethical but not socially responsible
Suppose that Justin interviewed for a job with a company that had an excellent reputation for honesty and integrity with customers and employees, but that didn't believe in the need to get involved in the community or with social causes of any type. This company would be considered
ethical but not socially responsible.
According to the video, current and former Big Box Co. employees complain about unfair treatment of employees at the company. This suggests that the company's _____ needs to improve.
ethical climate
Mattel decided to recall millions of Chinese-made toys due to lead paint and small magnets that could harm children. For Mattel, this was an issue related to
ethics
Businesses use metrics in order to
evaluate a strategy and quantify a trend
When Martha needs to compare the results of the marketing program for the Coffee Collective and then implement changes based upon what she finds, she is in the _____ phase of the strategic marketing process.
evaluation
Henrik is overweight and is considering a weight loss program. He feels it is an important and risky decision and is spending a lot of time and effort gathering information and evaluating the different plans. Henrik is involved in a process known as
extended problem solving.
The use of an existing brand name in a different product line is called brand _____.
extension
Yelp assists consumers in their _____ search for information.
external
Although often an inexpensive source, _____ are sometimes not adequate to meet the needs of the researcher, since they were acquired for some purpose other than the research question at hand.
external secondary data
One of the most valuable sources firms have at their disposal is a rich cache of customer information and purchase history from their day-to-day operations, which is a type of
external secondary data. (wrong)
Higher-income consumers visiting _____ may feel like they are on a treasure hunt, searching for a bargain.
extreme-value retailers
Which type of store is small and offers a limited merchandise assortment at very low prices?
extreme-value retailers
As a result of _____ studies, a car company could record people's expressions during three different ads for its new electric vehicle to select the one with the most positive response.
facial recognition
A restaurant is facing a problem in service delivery on a night when there are twice as many customers dining as usual. An integral part of recovery of the service dilemma is to provide both distributive and procedural _____ in resolving the delays in getting all customers served.
fairness
Salespeople should be evaluated and rewarded for only those activities and outcomes that
fall under their control.
Apple sells the majority of products under its Apple name brand. This is known as a(n) _____ brand.
family
Kellogg's sells a variety of products under its Kellogg's name brand. It then identifies groups of products with a secondary name such as Raisin Bran or Froot Loops, each in several sizes and versions. Froot Loops is known as a(n) _____ brand.
family
Originally, all adidas products were marketed under the adidas brand name. This is an example of what brand naming strategy?
family brand
When a firm sells all its products under one _____ such as Pepperidge Farm, the individual brands benefit from the overall brand awareness associated with it.
family brand
Deciding to sell fair trade coffee was based on concerns over
farmer wages.
One form of _____ for HSN would be when a customer purchases a product it offers after watching a product demonstration on the network.
feedback
Sales data, complaints, compliments, and redemption rates for coupons and rebates are types of _____ marketers use to assess the effectiveness of their IMC efforts.
feedback
When a manufacturer offers a money-back guarantee on the purchase of its products to show that the products will perform as expected, it is most likely attempting to alleviate which risk?
financial
When a hotel has a service delivery problem such as a broken air conditioning system on a very hot weekend, one critical element of service recovery is to _____.
find a solution that seems fair to all customers
The Internet of Things is used when
firms produce products that can be managed online.
Suppose that Red Bull offered a mobile, game-based app focused on extreme sports. Consumers could download the app at no cost, but to enhance game performance or to continue beyond a certain stage, they would need to purchase virtual cans of Red Bull from within the app for $0.99. This would be an example of which type of app?
freemium app
Most likely, Staples's lower color print price point is aimed at
gaining market share.
Manufacturers need to understand the _____ of different types of retailers to determine the best channels for their products
general characteristics
The example of using its customer database to promote a new Les Paul's limited edition shows how Sweetwater
generates leads.
Consumers in a _____ cohort are a group of people in the same generation who tend to have similar buying behaviors.
generational
Esri's Tapestry is a widely used tool for _____ segmentation.
geodemographic
Miracle-Gro is developing a new line of flower seeds, plant food, and potting soil. The type of products it develops will vary based on climate. What type of segmentation should Miracle Gro use as the basis to design these programs?
geographic
Which segmentation methods is Sodexho least likely to use in developing its market segments? demographic geographic psychographic benefits loyalty
geographic
A strategic alliance is a type of _____ firms use to expand into the foreign market.
global entry strategy
In the twenty-first century, goods, services, capital, people, information, and ideas often flow across international borders in a process known as _____.
globalization
The processes by which goods, services, capital, people, information, and ideas flow across national borders are referred to as
globalization.
By providing refillable water bottles and refilling stations in order to reduce waste from bottled water, Hope Springs is aligning its product with which current social trend?
green marketing
In producing and marketing environmentally friendly products, Seventh Generation is practicing
green marketing.
Starbucks announced that it would eliminate plastic straws by 2020. This decision by Starbucks is an example of
green marketing.
Seventh Generation has to advertise and promote its products. If the company spends more resources on advertising and promotion than on actually engaging in sound environmental practices, it would be guilty of
greenwashing.
A national government wants to know the market value of all the goods and services its country produced in a year. The metric it would use for this is
gross domestic product.
As mentioned in the case, other companies besides Google are entering the wearable-technology market, leading to increases in sales and competition that might indicate that the market is moving to the _____ stage of the product life cycle.
growth
Usually, during the _____ stage of the product life cycle, the typical consumers are early adopters, and there are increases in the number of competitors.
growth
Large corporations collect vast amounts of information about their customers' shopping habits, including how, when, why, where, and what they buy, and then use that information to ______. update human resources policies improve customer-to-customer marketing guide their business choices determine net profitability
guide their business choices
The decision to delete a product is never taken lightly because manufacturers generally
have made substantial investments in product development and manufacturing.
Jane has realized that she does not enjoy taking a taxi to work because there is substantial _____ in the delivery of the service depending on who is driving her cab that day.
heterogeneity
Oreos are advertised primarily on TV in China, because products advertised on TV are seen as being
higher in quality.
It is important to determine the amount of traffic using a particular site, visits to the blogs, or tweets about the site. A measure used for this purpose is the number of
hits
The total requests for a web page and are used as a measure of Internet traffic are called _____.
hits
When many students are complaining about a problem at an online university, one of the best things the university can do to better serve its students is to _____.
honestly listen to students' complaints and use their messages to build a committed relationship
When members of the marketing channel collude to control the prices passed on to consumers, they are engaging in
horizontal price fixing.
The primary reason there is greater heterogeneity in services than in products is because _____.
human inputs generate differences
When Hope Springs Water Co. was looking to complete the _____ phase of the new product development process, the company could have leveraged internal research, requested customer input, conducted a competitive analysis or sought collaboration with another organization.
idea generation
Sara Lee's use of the focus group to help develop the package is an example of
idea generation.
When you recommend collaborating with other firms, brainstorming, licensing, and conducting customer research to your marketing team, you are suggesting ways to boost
idea generation.
The _____ indicates where a particular market segment's ideal product lies on the perceptual map.
ideal point
One of the main variables for evaluating whether a segment is attractive is whether the segment is _____. Sodexho was able to recognize six segments that would respond favorably to its product offerings, thus fulfilling the first requirement of segment attractiveness.
identifiable
When firms apply an ethical framework for making decisions in a questionable situation, the first step is to
identify issues.
Suppose that managers at Big Box Co. have become concerned about unfair promotion practices and want to improve the situation. After identifying this issue, what should their next step be, according to the Ethical Decision Making Framework?
identify stakeholders
Dole originally aimed the Fruit Bowls toward moms with small children but quickly adapted once it realized on-the-go professional women were responding to the product as well. In doing so, Dole was reacting to one of the foundations of the advertising process, which is to
identify the target audience.
After a firm has conducted a SWOT analysis, it would typically progress to the next step of marketing planning, which is ________Blank and involves using STP (segmentation, targeting, and positioning).
identifying and evaluating opportunities
If Kraft Heinz produces a new eco-friendly package for its Philadelphia Cream Cheese, which it wants to get into as many retail outlets as possible, it should choose a(n) _____ distribution strategy.
intensive
A manager at a marketing research firm is trying to determine if the firm acted ethically when it conducted its latest study. In doing so, the manager is evaluating whether or not the research respondents were told the real purpose of the study before proceeding. Which step of the ethical decision-making framework is the manager participating in?
identifying issues
Max and June are planning their advertising campaign, asking themselves the question, "Whose attention do we want to get?" They are at the _____ stage of the advertising campaign planning process.
identifying target audience
Which component is comprised of a company's capabilities, competitors, corporate partners, and the physical environment?
immediate environment
Assuming Netflix was following a marketing plan, at which stage should it have given more consideration to the impact of the July 2011 price increase?
implement the marketing mix
After firms analyze the data they have accumulated, they must _____.
implement what they have learned
During the _____ phase of the marketing plan, marketers are identifying potential markets and must consider several pertinent issues related to the product or service being delivered.
implementation
To find out whether his ad on Google was being viewed, Gaurav looked at the number of times it appeared in front of a user. This measure is called
impressions.
A company that develops a new merchandise tracking technology that automatically notifies suppliers when a new shipment is needed is using its new product to:
improve business relationships.
Suppose an individual with a large disposable income passes a camp car en route to work. Intrigued with the car's unique look, the individual visits a camp car dealership later that day and purchases one. Which type of problem solving best characterizes this individual's purchase decision?
impulse buying
Your college might use _____, even though it is a more expensive and time-consuming research method, to better understand how students perceive its sustainability efforts and what it could do better.
in-depth interviews
In addition to providing service employees with emotional and instrumental support, management should offer the staff _____ that reward them for providing customers with good service.
incentives
Firms can introduce conscious marketing at the beginning of the planning process by _____.
including ethical statements in the firm's vision statement
By choosing an omnichannel strategy, Ashley Stewart is attempting to get its target market to purchase more of their clothing and accessories from the retailer. This is an effort to
increase its share of wallet.
As the market continues to show growth potential for new flavors and varieties of bottled water, companies in this industry can be expected to _____ their product lines.
increase the depth of
Which of these actions could Weight Watchers, Jenny Craig, and Slim-Fast take that would least likely increase the probability of customer satisfaction?
increase the program costs
A major factor contributing to the growth in the use of direct marketing IMC efforts is
increased use of credit and debit cards, and online shopping by consumers.
Automobile manufacturers such as Ford and General Motors often use _____ distribution, such that dealers act as retailers.
indirect
In the trucking industry, demand for fuel remains relatively stable even when the price increases, indicating that demand for fuel in this segment is
inelastic
Seventh Generation wants to research the demographic characteristics of its target market. To do this, the company would study all of the following except
inflation
Marketing communications _____ consumers by making them aware that a product or service exists or by increasing their purchase intent.
influence
By tailoring different value propositions to different decision makers at the hospital, GE Healthcare's sales representatives are filling which buying center role?
influencer
As firms build databases that contain customer _____, marketing researchers must be careful not to abuse this collection, which may contain sensitive personal details.
information
In the video, SBC's social media manager explains why SBC maintains multiple Instagram and Facebook accounts, instead of just one of each, in order to engage its customers. His explanation is most closely related to which element of the Wheel of Social Media Engagement?
information effect
Where does the predominant supply chain issue occur in this scenario?
information flow
Given that Gabby is looking for a budget-priced flight home for the holidays, she will need to find out what various options exist to fill her need. Gabby visits the websites of airlines she's had personal experience with and asks her friends for their opinion. Gabby is in which phase of the consumer decision process?
information search
During the early stages of a product's life cycle, _____ advertising should be used in order to create and build brand awareness.
informative
Because the Fruit Bowls were new to the market, Dole's initial advertising objectives focused on _____ its audience about the product.
informing
What are the three levels of distribution intensity?
intensive, exclusive, and selective
Professor Johnson wants to use a new textbook in the marketing classes he teaches. He calls Rebecca, the textbook publishing's sales representative, who suggests three different books to Professor Johnson, recommending one book in particular. In this buying center, Professor Johnson is the _____ and Rebecca is the _____.
initiator; influencer
Manufacturers in the production-oriented marketing era at the turn of the 20th century were primarily concerned with product ______, not with satisfying the needs of consumers. Multiple choice question.
innovation
Based on the description of the initial rollout of Google Glass in the case, which adopter group was Google likely targeting?
innovators
One difference between products and services is demonstrated by a hair salon, where the stylist delivers the service at the same time the customer receives it. This is called _____.
inseparability
One of the basic ways in which services differ from products is that production and consumption are _____ from each other. Consequently, service providers often include options for the customer to become more involved in the production of the service, which usually results in greater customer satisfaction.
inseparable
A hospital is which element in the B2B marketplace?
institution
Hospitals, universities, and religious organizations are _____ to which a B2B vendor would sell products.
institutions
In terms of business markets, organizations like hospitals that provide services to people in their care are classified as
institutions.
Since the Coffee Collective is a service organization, what it provides tends to be more of a performance than a product. Because of this, Martha must demonstrate to customers the benefits of visiting the Coffee Collective in order to overcome the _____ of services.
intangibility
Jeff welcomes you to your first day as marketing manager of a virtual golf and gaming center by saying, "Remember, our service is _____ because our customers can't touch, taste, or see it."
intangible
Services are _____, which means that they cannot be touched, tasted, or seen.
intangible
The most fundamental difference between services and goods is that services are _____.
intangible
Service providers must offer cues to help their customers experience and perceive their service more positively because the service is
intangible.
Effective omnichannel operations need a(n) _____, which consists of a centralized customer data warehouse that houses a complete history of each customer's interaction with the retailer. Multiple choice question.
integrated CRM system
Your employer wants to analyze data that come from other sites, such as measuring where people have come from to get to your company's site. What would you recommend that your company use to determine how people searched the Internet to find its products?
keyword analysis
FedEx has learned that its customers expect packages to arrive on time and in good condition and that customers wish to have control over their orders. By seeking to understand customer expectations, FedEx seeks to close the _____ gap.
knowledge
The component of the product package that provides the information consumers need to make their purchase decisions and for proper consumption of the product is known as the _____.
label
During the decline stage of the product life cycle, _____ who have not yet tried the product or service will be entering the market for the first time. Multiple choice question.
laggards
Those consumers who enter the market for the first time during the decline stage are known as _____.
laggards
According to the typical demand curve, lower prices will result in _____ being sold.
larger quantities
Generally, the _____ and more sophisticated a firm is, the _____ likely it will be to use supply chain intermediaries.
larger; less
In most country markets, the central government tends to be the _____ purchaser of goods and services.
largest
When the _____ majority of consumers enters the market, the market reaches its full market potential.
late
Exporting is an entry strategy that requires the _____ financial risk and allows a(n) _____ return to the firm.
least; limited
When entering their first foreign markets, firms typically take a(n) _____ approach.
less risky
An example of corporate social responsibility is when a firm _____.
lessens the negative impact it has on the environment
A good or service may pass through many stages as it establishes itself in the marketplace. Marketing managers refer to this as the product _____ cycle.
life
Among the factors affecting the consumer decision-making process is the way consumers spend their time and money to live, otherwise known as
lifestyle.
The additional sales that can be attributed to an advertising campaign are known as
lift.
Wayne buys a new laptop every two years. At this point, rather than research different brands, he simply orders the latest version of the one he already has. For Wayne, the laptop is a(n) _____ problem-solving purchase experience.
limited
KitchenAid develops its merchandise, produces it to ensure consistent quality, and invests in a marketing program to establish an appealing brand image. KitchenAid is an example of a _____ brand.
manufacturer
The majority of the brands marketed in the United States are _____ brands.
manufacturer
When a company considers putting together a sales force, it may choose to hire salespeople directly or use _____.
manufacturer's representatives
Imagine that Apple conducts a seminar with Best Buy employees on new features in Apple's latest iPhone. This would be an example of the _____ educating the _____ on how to use and sell its new product.
manufacturer; retailer
In B2B markets, _____ are firms that buy and reprocess products and services before selling them again to the next buyer.
manufacturers
Some firms buy raw materials, components, and parts that allow them to make their own goods. These firms are known as _____ or producers.
manufacturers
During the sales-oriented era, ______. the consumer held all the power in the buyer-seller relationship firms believed a good product would sell itself manufacturers had the capacity to produce more than consumers were able to buy manufacturers focused on product innovation, not satisfying consumer needs
manufacturers had the capacity to produce more than consumers were able to buy
A strategy that employs existing products or services to reach new market segments is called _____.
market development
Marco's marketing consultant indicates that there is an international demand for pet accessories made from upcycled materials. If Marco decides to expand his global presence, which growth strategy would he be following?
market development
When Starbucks expands into a new country, what growth strategy is the company pursuing?
market development
When a firm has moved beyond a production or selling orientation and attempts to discover and satisfy its customers' needs and wants, the firm is ______.
market oriented
Marco's marketing consultant explains that if the Upcycled Dog focuses on selling more dog beds to his current customer base, he would be following which category of growth strategy?
market penetration
The goal of a(n) _____ strategy is to generate profit and establish a new product or service in the market as quickly as possible.
market penetration
What is one of the four major growth strategies that marketers typically utilize?
market penetration
American Airlines recognizes that there are different groups of travelers with different needs, wants, and characteristics in their choice of airline transportation. The process of dividing American's market into these various groups is
market segmentation
The process of dividing the market into groups of customers who have different needs, wants, or characteristics is called _____.
market segmentation
Aggregating potential car buyers into groups that have common needs and will respond in the same way to a marketing campaign is a process known as
market segmentation.
In order for Martha to categorize prospective buyers into groups that have common needs and will respond similarly to a marketing action, she will need to complete a
market segmentation.
Shampoo manufacturers understand that consumers have different needs when it comes to what type of shampoo they use, such as for curly hair, two-in-one ease of use, or color protection. Knowing that, shampoo manufacturers have divided the market based on these various needs and developed shampoos to accommodate each group. By doing so, these shampoo manufacturers are involved in
market segmentation.
Firms consider pursuing various _____ as part of their overall growth strategies.
market segments
Sending the product out to test families is a form of
market testing.
In which era of the marketing evolution did firms begin to focus on what consumers wanted and needed before designing, making, or selling a product?
market-oriented era
Which company activity is identified as the set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large?
marketing
Analyzing data that has been already collected to improve marketing decisions, optimizing marketing returns, and making appropriate customer-related decisions is the function of _____.
marketing analytics
The integration of suppliers, manufacturers, warehouses, stores, and transportation intermediaries is called _____ management.
marketing channel
When a firm influences the actions of a consumer, the firm has probably done so through _____.
marketing communications
The Coffee Collective will need to detail the day-to-day operational decisions that are needed to execute the marketing planning phase. These actions are often organized into the "four Ps," also called the
marketing mix.
A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected income statements is referred to as a(n)
marketing plan.
A _____ identifies a firm's target markets, a related marketing mix, and the bases upon which the firm plans to build a sustainable competitive advantage.
marketing strategy
David and Bella plan for their baseball cap manufacturing startup to concentrate all its efforts on cost containment by offering the product in only one size but in a variety of colors, using a one-size-fits-all approach. This approach is a _____ targeting strategy.
mass marketing
During the _____ stage of the product life cycle, the market for the product usually becomes saturated.
maturity
Information stored in the data warehouse _____.
may be accessed by analysts from various levels of the corporation
For the marketing manager to be able to deliver consistent quality service, it is imperative to set _____.
measurable goals that are based on customer expectations
One of the largest expenses in the advertising budget is the _____ buy, which refers to the actual purchase of airtime or print pages.
media
When a company uses its advertising budget to purchase airtime or print pages, it is conducting a(n) _____ buy.
media
Getting customers into the stores by using newspapers, magazines, television, and social media refers to advertising in the _____, whereas displays and signs placed at the point of purchase or in aisles is advertising in the _____.
media; store
One of a retailer's most fundamental activities in fulfilling the needs of the target market is to provide the ideal blend of _____ and _____.
merchandise; service
Firms must provide the target audience with reasons to purchase their products or services. These reasons are conveyed through the _____.
message
The _____ provides the target audience with reasons to respond in the desired way.
message
Twitter is a popular site that allows individuals to share brief posts with others. Twitter is classified as a
microblog
Lands' End allows customers buying shirts to choose from a variety of fabrics and types of collar and sleeve based on the customer's specific measurements, capitalizing on new technologies to mass-customize its products and services. This is an example of
micromarketing.
Social responsibility is an integral part of the firm's
mission.
The product _____ is the complete set of all products and services offered by a firm.
mix
Traditionally, marketing activities have been divided into the four Ps: product, price, place, and promotion. The four Ps represent the marketing
mix
The complete set of all products and product lines offered by a firm is called its product assortment, or product _____.
mix or depth (both correct)
Using demand notifications to notify sales associates who can physically pull an item from store shelves and verify its availability is part of _____ task management.
mobile
Retailers use _____ to communicate with or sell to consumers through mobile devices.
mobile commerce
A midwestern college decides to purchase new helmets for its football team. Although the college is considering some of the same elements as before, such as the look and color of the helmets, it wants them to include the newest technology to keep players safer. This is an example of which type of buying situation?
modified rebuy
If Brian were tasked with purchasing an additional 500 tablets for Hope Springs but he was asked to change the requirements for making the purchase, this would be called a(n) _____ situation.
modified rebuy
The quick service restaurant (QSR) is an example of which type of competition?
monopolistic competition
Frederick sells health insurance packages for small businesses. He has been given the names of ten new businesses in his town. During the qualifying leads stage of the selling process, Frederick will likely try to assess which of the ten businesses
need health insurance packages and can afford them.
What is the first step in the business-to-business buying process?
need recognition
Both the B2B and B2C buying processes begin with
need recognition.
In which buying situation is the buyer most likely to proceed through all six steps in the buying process?
new buy
The purchase of previously unpurchased capital equipment by a paper company, which would likely be quite an involved process, is an example of a _____ situation.
new buy
Most B2B buying situations can be categorized into three types: straight rebuys, modified rebuys, and
new buys.
The three B2B buying situations are _____ buys, _____ buys, and straight rebuys.
new, modified
When the members of Sharon's marketing team meet to compare the various communication channels available to them, they realize that
no single channel is necessarily better than another channel.
For many years, Southwest Airlines distinguished itself as the low-cost airline. Now, many other low-cost competitors have entered the market. Similarly, Southwest was one of the first airlines to offer online ticketing. Now, all airlines have online ticketing. These examples suggest that
no single strategy is likely to be sufficient to build a sustainable competitive advantage.
A flavored water producer sells its products in its home market and in multiple countries, but it does not change the formulation for the different markets. This global product strategy is referred to as
not niche marketing (wrong answer)
Ashley Stewart created beautiful stores, where each customer is greeted by "Ms. Ashley." This choice represented which part of a retail strategy?
not product not place
People who get Botox treatments consider it to be a private matter; therefore, they do not discuss it with others. This lowers the level of _____, slowing down the diffusion process.
observability
Nike wants to extend its current research to understand techniques that it can use to keep women in the store longer. Through the company's survey research, Nike found that many women found it hard to shop in Niketown stores because there were many distractions. One method that market researchers can use is _____ of female shoppers in Niketown stores.
observation
Behavioral segmentation that is primarily based on the time when a product or service is purchased or consumed is called _____ segmentation.
occasion
Product excellence _____.
occurs by having products with high perceived value and effective branding and positioning
Nordstrom Rack sells brand-name merchandise at prices 20 to 60 percent lower than the manufacturer's suggested retail price. Nordstrom Rack is described as a(n)
off-price retailer.
To address the intangible nature of services provided and allow patients to compare them to the services provided by others, a medical provider may _____.
offer cues to customers, such as comfortable waiting rooms and sparkling clean examination rooms with diplomas on the wall
Having Internet, catalog, and store offerings makes Staples a(n)
omnichannel retailer.
Traditional store-based retailers are placing more emphasis on other channels and evolving into
omnichannel retailers.
A survey of marketers revealed that approximately _____ of them had been pressured to use unethical marketing tactics.
one-quarter
Some innovative firms entertain consumers with _____; these consumers then interact with the brand.
online games
Qualtrics, SurveyMonkey, and Zoomerang are examples of
online survey software programs.
Firms achieve _____ through efficient procedures and excellent supply chain management.
operational excellence
The increasing popularity of smoothies is a(n) _____ for Dole
opportunity
In the fifth stage of the B2B buying process, _____ specification, the firm places its order with its preferred supplier(s).
order
When a firm places its orders with its preferred supplier(s), it engages in _____.
order specification
Sara Lee also used concept testing and customer input to develop its
packaging design.
The video mentions that SBC measures "engagement" to evaluate social media effectiveness. The definition of "engagement" used by the social media manager is most closely related to which of the measures of social media discussed in the text?
page views
One way that Nike can examine the retention of its female consumers is to review their purchases over several timeframes. This is also called
panel research.
In the management of market channels, a strategic relationship is also known as a(n) _____.
partnering relationship
A market _____ growth strategy focuses on increasing sales of the firm's current products to its current target markets.
penetration
What is the best description of a company sales force?
people who are employees of the selling company
Reba and Tayshawn are discussing whether their company should participate in an upcoming trade show. Reba argues in favor of attending, saying that trade shows are a particularly good source of B2B sales leads because
people who attend are interested in the products and services being offered.
Through Band-Aid's continuous commitment to quality and constant product innovations, Band-Aid has been able to increase the consumer's _____ of the Band-Aid brand.
perceived value
Effective promotion enhances a product or service's
perceived value.
The social influences that affect a consumer's behavior do NOT include _____.
perceptions
If an automaker wanted to compare several different car brands based on their performance on two factors—fuel efficiency and reliability—this could be done with a(n)
perceptual map.
Linda bought a new computer online, but she soon realized that it didn't have enough memory to run her programs. Which risk associated with purchase decisions occurred?
performance
One concern some potential car buyers might have about the camp car is that it might be cheaply made and thus might break down frequently. Which type of risk does this concern represent?
performance risk
Many consumers question whether diet programs really work and result in weight loss. This represents _____ risk. The higher this risk, the more likely a consumer will extend his _____ when going through the decision process.
performance; search for information
One of the traits of service marketing is _____, meaning the service must be delivered at a specific time or it is lost.
perishability
One of the traits of service marketing is _____, meaning the service must delivered at a specific time or it is lost.
perishability
Service providers cannot inventory or stockpile things like haircuts during slow times to "sell" later when the facility is busy. This characteristic of services is called _____.
perishability
Surge pricing, as described in the case, is an attempt by Uber and Lyft to reduce the impact of which characteristic of services?
perishability
United Airlines flies a plane from LA to NY at 8 o'clock on Tuesday morning only 25 percent full. On Friday, the same flight is overbooked by 15 percent. United is unable to capture and save the unused seats from the previous flight and instead has to pay passengers to fly on future flights. This is an example of the _____ of services.
perishability
Due to the _____ nature of a service, if a process like a lift at a ski area fails, customers may decide to do something else and the sales opportunity will be lost.
perishable
Services are _____ in that they cannot be stored for use in the future.
perishable
Direct store delivery from vendors is ideal for
perishable goods
The two-way flow of communication between a specific buyer and seller designed to influence the buyer's purchase decision is called _____ selling.
personal
Which of the following would allow Gabby the most flexibility in asking probing questions about why customers would want an open mic night?
personal interviews
Xerox sells to different customers in different sales situations. In order to capture customer commitment, Xerox salespeople must determine what steps in the _____ process are appropriate.
personal selling
Devon intends to set a very low price for one of his company's products in hopes of driving the competition out of business. Devon is engaged in
predatory pricing.
Wanda has a strong desire to make the world a better place and is concerned with saving the planet. Therefore, she shops local, buys organic foods, and recycles regularly. Which of Maslow's needs do Wanda's actions fulfill?
physiological (not right) maybe love
What is the correct progression of Maslow's hierarchy of needs, from the bottom of the pyramid to the top of the pyramid?
physiological, safety, love, esteem, self-actualization
Tide Pods® are an example of a _____ product because their introduction to the market radically changed consumer behavior and preferences and the entire competitive landscape.
pioneer
One strategy that Starbucks uses is opening stores in areas where other coffee shops would have little chance of staying competitive with Starbucks. What Starbucks is essentially doing is saturating the market, a strategy that falls under _____ within the six Ps framework.
place
An advertising _____ identifies the objectives of the advertising campaign and clarifies the strategies that will be used to accomplish the objectives.
plan
If an ice cream company decides to sell the best ice cream on earth, and intends to establish a strong ethical climate in the organization, during which phase of the strategic marketing planning process should the firm incorporate ethical considerations?
planning
Patagonia's mission statement, "Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis," was most likely created during which phase of the strategic marketing planning process?
planning
When a firm decides what level of commitment to its ethical policies and standards it is willing to declare publicly and how the firm intends to balance the needs of its various stakeholders, it is in which phase of the strategic marketing planning process?
planning
What are the three major phases of a marketing plan?
planning, implementation, control
Some of the key reasons the sales of electric cars are growing in China, the largest car market in the world, are the subsidies and incentives offered by the national and local governments. The _____ environment covers these government programs.
political/legal
The _____ environment is comprised of political parties, government organizations, and legislation and laws.
political/legal
One of the important features of the _____ environment is the existence of protections for consumers to increase the influence, power, and rights of consumers in dealing with institutions.
political/regulatory
In _____ analysis, management evaluates the firm's various products and businesses, then allocates resources according to potential profit outlook.
portfolio
If managers at General Electric (GE) evaluated all the firms' various divisions and then decided to sell off its finance and healthcare divisions, it would be involved in
portfolio analysis.
Mr. Kvidahl at Indiana State explained that students at his school are mostly trendsetters. Based on Sodexho's research, he worked with Sodexho to develop a _____ that would meet the needs of those students and separate its product offerings from competitors'.
positioning strategy
The final step in the consumer decision-making process, and a very important element in retaining and building a loyal customer base, is _____ behavior.
post-purchase
Yelpers who post reviews are at which stage of the decision process
post-purchase
Marketers that set unrealistically high consumer expectations of a product through advertising, personal selling, or other types of promotion may generate higher initial sales, but it will eventually result in _____ if the product fails to achieve these expectations.
post-purchase dissatisfaction
In order to accurately evaluate the new product launch, marketers must undertake a critical _____ review to determine whether the product and its launch were a success or failure.
postlaunch
After the major tire recall, Ford regretted purchasing so many Firestone tires for its vehicles. This kind of buyer's remorse is also called
postpurchase dissonance.
The case states that Google intended the limited initial rollout to be a beta test of Google Glass, meaning that the adopters were
potential consumers of Google Glass.
Walmart probably has the most _____ in its supply chain relationships because of its size, negotiating strength, and its commitment to improvement in its supply chain performance.
power
A large grocery store chain insists that its suppliers stop packaging their bagels in plastic wrap, and they comply. This is an example of _____.
power within a marketing channel
The _____ stage occurs prior to meeting the customer for the first time and extends the qualification of leads.
preapproach
A firm sets extremely low prices for its products so that most customers will stop shopping elsewhere. This will cause other companies to go out of business and leave the firm with no more competition. The firm has engaged in _____.
predatory pricing
In the case of an exclusive product like a Lamborghini, the higher the price, the greater the status associated with it and the greater the exclusivity because fewer people can afford to purchase it. The Lamborghini represents a _____ product.
prestige
Marketers _____ an advertising campaign to ensure that various elements of the campaign will work in an integrated fashion and do what they are intended to do.
pretest
The overall sacrifice a consumer makes to acquire a product or service is known as _____.
price
A demand curve shows the relationship between _____ during a specific period of time.
price and demand
When Josh bought his new iPhone upon its release, the phone cost $999. Since he has high company loyalty and loves technological innovation, he bought the phone immediately even though he knew within a couple of years, the phone would be significantly less expensive. This is an example of what type of pricing strategy for Apple?
price skimming
Sometimes reactions to prices in oligopolistic markets can result in a _____, which occurs when two or more firms compete primarily by lowering their prices.
price war
Although both Nordstrom and Kohl's are department stores, their images could not be more different. Thus, when Coach considers which of these firms is most appropriate for its new line for men, it must keep in mind customers' perceived images of these retailers' _____ relationship.
price-quality
Competition, channel members, costs, customers, and company objectives are the five critical components of _____.
pricing
The components of a country market assessment include all of the following EXCEPT _____.
pricing and product decisions
After reviewing the existing data on seasonal spending by its membership, the Y decided it needed new information collected to address its research questions. The Y will need _____ data to address the questions in its marketing research study.
primary
Nike decided to use _____ data, even though it was more expensive and time-consuming, because it offered insights into the company's unique problem.
primary
When you block a website from sharing your personal information, you are responding to a need for
privacy
If Martha leveraged a _____ branding strategy to grow her overall business, she might develop a line of imported flavored teas and sell them at the local College Town Food Cooperative using the College Town name for the new product line.
private label
As the size of retail firms has increased through growth and consolidation, more retailers have developed _____ merchandise, which they use to establish a distinctive identity.
private-label
Macy's developed the Alfani clothing brand sold in its stores. Alfani is referred to as a(n)
private-label brand.
Changing the flavor of the Oreo to accommodate cultural differences represents a global _____ strategy.
product
Firms that achieve a sustainable competitive advantage through their merchandise and service offerings, and through effective branding and positioning, are doing so using _____ excellence.
product
Not only did Dole modify its advertising strategy to target a different group of women, but it also modified its _____ to meet this audience's need for convenience.
product
The Kleenex advertising campaign to remind customers to keep a tissue with them is an example of _____-focused advertising.
product
For Kraft, the information it gathered from market research guided its decisions regarding which of the 4Ps?
product and place
Dora's concept for a new line of oversized rings, to be worn on any finger or thumb, received positive evaluations from potential customers during concept testing. Her next step is
product design.
As the case explains, at one time customers were likely to buy their donuts at Dunkin' Donuts and their coffee at Starbucks. However, several years ago Dunkin' Donuts added espresso drinks to its menu. If Dunkin' Donuts adopted this strategy in order to get its donut customers to spend their coffee dollars at Dunkin' Donuts instead of at Starbucks, what type of growth strategy does this change represent?
product development
Marco has gotten questions from customers about digital pet feeders for their dogs. If Marco decides to introduce a new digital pet feeder to the Upcycled Dog accessories line, which growth strategy would he be using?
product development
Marketers who design and offer new products and services to their existing customers are pursuing a _____ growth strategy.
product development
The _____ strategy offers a new product or service to a firm's current target market.
product development
Social responsibility deals with the firm's impact on _____.
society
During which stage of the business-to-business buying process are firms likely to narrow their selection to a few suppliers, often those with which they have existing relationships, and discuss key terms of the sale.
proposal analysis, vendor negotiation, and selection
The most basic form of corporate social responsibility is to _____.
provide a safe working environment for employees
Despite having to deal with difficult guests, the service provider can be motivated to provide "service with a smile" when the firm _____.
provides support and incentives to motivate quality service
If automakers were to segment Justin based upon the type of active lifestyle he leads, this would be considered _____ segmentation.
psychographic
Consumer decision making about products and services is influenced by the configuration of the market mix, social factors, _____ factors, and sociological factors.
psychological
Two factors that will influence Gabby's decision are the fact that she is not a morning person and that she is interested in having free Wi-Fi during the flight. These factors would be considered _____ factors in the consumer decision process.
psychological
A _____ is an advertisement that focuses on public welfare issues.
public service announcement
A _____ advertising schedule uses a base level of advertising during some periods followed by periods of increased advertising.
pulsing
The Economist's Big Mac Index, which suggests that exchange rates should adjust to equalize the cost of a basket of goods and services wherever it is bought around the world, is an example of which metric?
purchasing power parity
The Big Mac Index is a novel measure of
purchasing power parity.
With _____, a large number of sellers offer standardized products or commodities that consumers perceive as substitutable, such as grains, gold, meat, spices, or minerals. In such markets, price usually is set according to the laws of supply and demand.
pure competition
The marketing team at Fun Time Fishing Equipment wants to statistically confirm its insights and hypotheses. It will use
quantitative research.
In the context of the BCG matrix, which group requires the most significant resources to maintain its market share?
question marks
Vicki is preparing for this important sales presentation. She knows that Vacation Suites is more likely to _____ during her presentation than during other stages of the selling process.
raise objections
When brands decide how much to pay a social media influencer to carry their messages, they must consider the number of followers, the level of activity by the influencer, and the degree of engagement between followers and the influencer as well as with others. This called
reach
Exposing a larger percentage of its target population to its communications by using multiple media should increase HSN's
reach.
Keiko is having trouble letting brides-to-be know what her expertise can achieve for them when they purchase a wedding gown she designs. Which criterion for evaluating segment attractiveness is she unable to meet?
reachable
Brand repositioning is also known as
rebranding
In the IMC communication process, the _____ is the person who reads, hears, or sees and processes the message being communicated.
receiver
Need _____ is the first stage in the consumer decision process.
recognition
Poor service delivery can be converted into a positive interaction through service _____ an effort that resolves the problem fairly and shows the buyer that the firm is listening to the complaint.
recovery
Global marketers are under constant pressure to simplify distribution channels in order to
reduce costs.
In her search for the right flight to visit her parents, Gabby learns about the Jet Green fare sale from a favorite blogger. This source of information falls into which category?
reference group
Yelpers serve as a(n) _____ for persons using their reviews as a basis of comparison in the decision process.
reference group
The "T" in STP stands for
targeting, target, or targets
In a(n) _____ diversification opportunity, the current target market and/or marketing mix shares something in common with the new opportunity.
related
Public _____ involves the management of communications and relationships to achieve various objectives within a given firm or institution.
relations
Public _____ is the organizational function that manages the firm's communications and supports other promotional efforts.
relations
A measure of _____ describes how useful an ad message is to the consumer doing the search.
relevance
When Best Buy provides a loyal customer with a relevant coupon on their mobile phone, based on previous purchases, while the customer is in the store, this is an example of which element of the 4E framework?
relevancy and exciting the customer
Hernando's Restaurant maintains its five-star rating by focusing on all aspects of service quality. When employees are trained to accurately answer questions about the menu and give a realistic wait time, what service characteristic is the restaurant focusing on?
reliability
Advertising campaigns for products that are in the maturity stage of their life cycles and have established market acceptance will often use _____ advertising to keep the products in the minds of consumers.
reminder
In the third stage of the B2B buying process, the firm will invite alternative suppliers to bid on supplying the firm's required components. This is known as the _____ process.
request for proposals
During the B2B buying process, a firm will typically invite alternative suppliers to bid on supplying the firm's required components for a product. This stage is called the _____ for proposal process.
request or RFP
A major disadvantage of primary data collection is that it
requires more sophisticated training and experience to design the study and collect data.
Firms conduct market _____ to identify their target audience and to help set the tone for their advertising program.
research
One of the most important factors for adequate service recovery is for the provider to _____.
respond to the customer and resolve the problem quickly
Martha has noticed that her employees do not always greet their Coffee Collective customers promptly and customers sometimes have to wait a few moments before having their orders taken. She instructs them to greet and serve the customers as soon as they walk through the door. This instruction is Martha's attempt to improve the _____ of the service her employees provide.
responsiveness
Suppose that you ship a package with FedEx and are anxious to ensure that it was delivered on time. You try to confirm delivery by calling FedEx, but you sit on hold for over an hour before finally learning that the package arrived on schedule. At which of the building blocks of service quality has FedEx failed to provide good service?
responsiveness
The last phase of the marketing research process is presenting _____ to decision makers.
results
In this scenario Beth represents the
retailer.
A local clinic (institution) in need of more Purell antibacterial soap might purchase it from Target, which is a _____ of soap, whereas a local high school (institution) in need of more textbooks might buy some from McGraw-Hill, which is a _____. Multiple choice question.
retailer; manufacturer
A manufacturer will seek out partnerships with _____ who will sell the manufacturer's products and/or services to the final consumers.
retailers
Private-label brands are developed and managed by
retailers.
Adding value to products and services sold to consumers in households for their personal or family use is known as _____.
retailing
When consumers are engaged in the consumer decision process, the specific brands or stores they can readily recall in a product category are referred to as their _____ set.
retrieval
As head of new-product development, Janelle has purchased a competitor's new toy robot. She asks her team to analyze it and create an improved product that does not infringe on the competitor's patents, if any exist. Janelle's team will be conducting
reverse engineering.
If the Snapchat initiative described in the case included studying a Google Glass device, taking it apart and trying to recreate the device with better appearance and a better set of features, this would be an example of
reverse engineering.
Dominic's computer repair service is entering a new market and he plans to set prices to take sales away from the established market leader, even though it will mean profits might suffer. This goal corresponds to which company objective?
sales orientation
Once background information has been obtained, and the objectives for the meeting are set, the salesperson is ready for the _____.
sales presentation
When companies try to entice customers to make purchases by offering special incentives or excitement-building programs, including loyalty programs, contests, etc., they are using _____ _____ .
sales promotion
Traditionally, marketers have seen the role of _____ as generating short-term results, whereas the goal of _____ was to lead to long-term results.
sales promotion; advertising
Fairview Farms distributes coupons to encourage the purchase of its free-range eggs. Which IMC channel is Fairview using?
sales promotions
What term is used to describe the special incentives offered by a firm to encourage customers to make a direct purchase?
sales promotions
The emoji-scanning portion of the campaign, as described in the case, is an example of
sales promotions.
McDonald's develops position profiles based on which of the following methods?
salient attributes
New product and service innovation is important because the longer a product or service exists in a given marketplace, the more likely that the market will become _____.
saturated
The _____ is the second step in the consumer decision process.
search for information
If a firm uses social media sites like Facebook, Twitter, and online blogs to collect consumer comments about companies and their products, it is engaged in a process known as
secondary data mining. (wrong)
The Y's use of academic and scholarly research and national statistics are examples of
secondary data.
The _____ strategy must be consistent with and derived from the firm's mission and objectives, as well as its current situation—its strengths, weaknesses, opportunities, and threats (SWOT).
segmentation
When a toothpaste manufacturer divides the marketplace into smaller targets based on benefits sought by consumers, this is an example of market ________.
segmentation
A successful marketing plan requires identifying and evaluating opportunities by performing an STP analysis, which stands for _____.
segmentation, targeting, and positioning
Which step in the STP process develops descriptions of the different segments, which helps firms better understand the customer profiles in each segment?
select segmentation method
After evaluating each market segment's attractiveness, the next step in the STP process is _____.
selecting a target market
CoverGirl often produces advertisements featuring smiling and happy-looking young people using its makeup products. This tactic relates to
self-concept.
The old slogan "Service with a smile" recognizes the fact that
service providers need to be pleasant even if the customer is not.
The Satisfaction Guaranteed concept is typically successful when marketing
services
When using the objective-and-task method of IMC budgeting, marketers must repeat which process for each product or service?
set objectives, choose media, calculate costs
Retailers may modify product, price, and/or promotion to attempt to increase their _____, which is the percentage of the customer's purchases made from that particular retailer.
share of wallet
A key innovative element in HSN's interactive strategy is
shop-by-remote.
The sender of a message _____ the audience.
should be clearly known by
Direct investment exposes a firm to _____ risk.
significant
Depending on the sales _____ and the buyer's readiness to purchase, the salesperson may not use every step in the personal selling process.
situation
If Gabby suddenly had to make reservations to fly home the following day, and so had to choose a flight quickly with limited research, this would be an example of a _____ factor influencing her purchase behavior.
situational
When firms decide to develop new products, it is typically a long process that is broken into _____ stages.
six
If the market is elastic, relatively _____ changes in price generate fairly _____ changes in the quantity demanded.
small; large
As consumers respond to climate change and environmental concerns, both General Motors and Tesla are offering fully electric vehicles. This issue represents which of the macro-environmental variables?
social
Daily Table's efforts to be socially responsible include addressing the ethical, _____, and environmental impacts of its business operations and the concerns of its stakeholders.
social
Dove soap campaigns promote greater health and wellness in their communication strategies by advocating that people should embrace "real" beauty. Further, Cheerios states on its packaging that is it gluten free. These are responses to a _____ trend that surrounds health and wellness concerns.
social
Online and mobile technologies that distribute content to facilitate interpersonal interactions are known as _____ media.
social
The external _____ environment that influences consumer behavior includes the consumer's family, reference groups, and culture.
social
Using the Internet to communicate about product preferences with other shoppers is called _____ shopping.
social
Firms can use _____ to bring customers together to share experiences around the products.
social media
Putting content on YouTube uses the IMC element of
social media.
The green movement represents which factor in the marketing environment?
social trends
In China, the app Weixin allows users to send videos, photos, messages, web links, status updates, and news. This app meets people's need to
socialize
Red Bull "Mind Gamers" puzzles allows users to interact and compare their scores against each other. This is which primary motivation for mobile app usage?
socializing
Firms that act responsibly by looking for safer and more environmentally-friendly alternatives to their products, are mostly attending to which stakeholder group?
society
When Delta increases its average fares, American Airlines and United often follow with similar increases. This is an example of
status quo pricing.
Daily Table was formed as a nonprofit, membership-based grocery store. It was created in part to sell food to low-income households that lack reliable access to nutritious and affordable food. Which of the following is not a stakeholder for Daily Table?
stockholders
If a B2B customer is satisfied with an existing supplier, it will probably engage in a(n) _____ to purchase additional quantities of the item.
straight rebuy
When Office Depot replenishes its supply of printer paper, it most likely involves a _____ situation.
straight rebuy
In which B2B buying situation does a buyer or buying organization purchase additional product units, service subscriptions, or both as per previously purchased?
straight rebuys
In a _____ relationship, the supply chain members are partners who intend to maintain the relationship for quite some time and invest in ventures that will be profitable for all involved.
strategic
By combining their resources and developing shared goals, Procter & Gamble and Walmart were able to increase the value to the final consumer. Their relationship is considered
strategic.
A pricing _____ is the general way a company decides how its prices will be determined over the long term, based on the five Cs of pricing.
strategy
A SWOT analysis involves an analysis of factors internal to the company, which include _____, as well as factors outside the company, which include _____.
strengths and weaknesses; opportunities and threats
A survey question for which a discrete set of response alternatives or specific answers is provided for respondents is a type of _____ question.
structured
Omnichannel retailers _____ provide an integrated shopping experience across all their channels.
struggle to
In setting prices for its various data plans, which of the following does U.S. Cellular not need to consider?
style of product
In this scenario Bill represents the
supplier.
Supply chain management is the set of approaches and techniques firms employ to efficiently and effectively integrate their manufacturers, warehouses, transportation intermediaries, stores, and
suppliers.
Another term for marketing channel management is _____ management.
supply chain
One of the ways that Walmart has been able to reduce the prices of its products, and add value to its customers, is by its continuing focus on streamlining all its _____ functions.
supply chain management
A(n) _____ is a systematic method of collecting information from people through a questionnaire.
survey
What is the most popular type of quantitative primary collection method?
survey research
According to the U.S. Environmental Protection Agency, _____ is based on the idea that "everything we need for our survival and well-being depends, either directly or indirectly, on our natural environment."
sustainability
Consumers who hesitate to purchase goods because they worry about the potentially low wages paid to workers in the fast fashion industry are expressing _____ concerns.
sustainability
If a media company wants information on consumers' television viewing habits, it can purchase reports compiled by commercial research firms such as Nielsen. This is an example of _____ data.
syndicated
Marketers can purchase _____ data, which are secondary data available for a fee from commercial research firms.
syndicated
Commercial research firms such as IRI, the National Purchase Diary Panel, and Nielsen are sources of
syndicated data.
Facts about the chip category obtained from AC Nielsen are
syndicated data.
Nielsen purchases scanner data from retail transactions to track the sales of packaged consumer goods, gathered at the point of sale in retail stores of all types and sizes. Scanner data is an example of
syndicated secondary data.
When a dairy company purchases information about people's yogurt and milk buying behavior from National Purchase Diary Panel, it is acquiring a form of
syndicated secondary data.
Uber has specific requirements for the age, size, and condition of its drivers' cars, so that its customers will experience a ride in a pleasant environment. This concern addresses which element of the building blocks of service quality?
tangibles
In order for an advertising program to succeed, the advertiser must accurately and effectively identify its _____ audience.
target
When deciding on contextual elements, you should identify your _____.
target market(s)
Suppose Scion is trying to reach the under-25 age group to make them long-term customers. For Scion, this group would be its'
target market.
Mobile devices offer consumers an access channel of ever-increasing importance, as demonstrated by consumers' ability to find water bottle filling stations for Hope Springs. This is an example of a trend within the _____ environment.
technological
In general, which media outlet's advertising relies on a mix of visual and auditory techniques and is typically very expensive?
television
Fatima wants her advertising campaign to use a mix of visual and auditory techniques. She will most likely choose
television.
When Hope Springs develops its flavored water additive, it uses the college town where Gabby and Justin are students to gauge if there is ample product interest. Hope Springs uses all the elements of the marketing mix in this effort. The company is engaged in a(n)
test market.
When Burger King introduced the new Whopper Bar to a limited geographic area prior to a national launch, it was engaging in _____.
test marketing
Although the trend of wealthy households outpacing both poor and middle classes is worldwide, it is particularly prominent in
the United States.
In the ads described in the case related to the #MaxFootball campaign, the transmitter of the message is
the ad agency or department that created the ads.
Typically, consumers trust product reviews found on professional blogs. However, the exception to this is when
the blogger is being compensated for the review.
The role of the retailer is to help _____.
the consumer and manufacturer
Retailers use _____ to see how well they are doing at turning potential buyers into actual buyers.
the conversion rate
If the makers of the camp car focused on promoting the car's convenience in urban areas, they would be appealing to which of the following?
the customer's lifestyle
Which large group of consumers, representing a substantial portion of the population, will be critical to the success of We Luv Pets' new line of dog chews?
the early majority
In the past, Ellie's vacation time has been spent at home catching a few local attractions when she could afford them. This year, she received a big bonus at work and decided to finally take the trip to Europe that she has always dreamed about. Ellie's purchasing behavior has changed due to
the income effect.
A customer with a complaint about the way in which a washing machine repair was made will become increasingly more annoyed with the service provider _____.
the longer it takes to get an answer from the firm
The global product strategy a firm chooses depends on
the needs of its target market.
Value-oriented marketers engage in an ongoing process of balancing ______. the efficiency of production and the needs of customers supply chain demands and resource availability public perception of the corporate ethics and the firm's stewardship the perceived benefit to customers and the price
the perceived benefit to customers and the price
What best describes the notion of market positioning? -the position that a company holds in the market in terms of size relative to its competitors -the process of increasing a firm's overall sales and as a result, increasing its market share -the place the product occupies in consumers' minds relative to competing products -the geographic location of the headquarters of a corporation -a group of organizations that have similar wants and needs
the place the product occupies in consumers' minds relative to competing products
In the ads described in the case related to the #MaxFootball campaign, the sender of the message is
the product manager for Pepsi Max.
In most situations, data collection should begin only after _____.
the research design process is finished
In marketing's four Ps, place refers to all activities required to get
the right product to the right customer when that customer wants it.
What defines a value proposition?
the unique value that a product or service provides to customers
Firms position their products based on methods such as _____.
the value proposition, salient attributes, symbols, and competition
One problem in relying on price elasticity and demand curves when setting prices is
the way a product or service is marketed can have a profound impact on price elasticity.
If Uber surveyed customers to determine the desired and maximum amounts of time riders are willing to wait for their requested ride to arrive, the company would be trying to determine
the zone of tolerance.
Employees at Bright Rain Spa are allowed to decide whether a customer kept waiting for a treatment more than half an hour gets a refund or a free facial. This policy demonstrates
the zone of tolerance. (WRONG)
Firms have begun to rely more heavily on communicating with their customers through _____.
their websites
The Y is reviewing secondary data that it collected about seasonal variations in membership enrollment because it is thinking about developing a new member service. The advantages of using these data include that
they can be quickly accessed at a relatively low cost.
One disadvantage of secondary data is that _____.
they may not be exactly what the research project requires
The AIDA model is also known as the _____ model.
think, feel, do
As noted in the case, the retail coffee market is crowded with large players (like Starbucks, Dunkin' Donuts, and McDonald's) and also smaller independent chains with a more "hip" image. Into which SWOT analysis category does this intensity of competition fit?
threat
In 2006, Ford Motor Company announced it would severely cut back its automobile production. For parts companies that supply Ford its parts, this represented a(n)
threat
A situation analysis identified increasing competition, potential downsizing of the U.S. Postal Service, and cable pay-per-view expansion, which were _____ for Netflix. In response, Netflix was initially able to capitalize on the _____ of streaming, gaming platforms, and an iPhone app.
threats; opportunities
Personal selling is least likely to take place
through newspaper ads.
The _____ effect of social media engagement is concerned with firms being able to engage with the customers at the right place and time.
timeliness
Radio frequency identification (RFID) tags are
tiny computer chips that transmit information about a container's contents.
Radio frequency identification tags are
tiny computer chips that transmit information about a container's contents.
When Amazon created the Echo, smart speakers that respond to voice commands and connect via Bluetooth, the most likely reason was
to adapt to changing customer needs.
Apps like calendars, trip planners, and flight trackers help consumers fulfill which primary motivation?
to prepare
Today, the global product strategy followed by McDonald's is
to sell similar products but with local adaptations.
When McDonald's originally began to expand globally, its global product strategy was
to sell the same products in all markets.
Why did Adidas introduce several sub-brands, including "Performance" and "Neo"?
to serve different target markets
When asked which brand of jeans she preferred, Anita immediately answered Madewell. This level of preference and recall of a brand is called
top-of-mind awareness.
The effectiveness of an advertising campaign is assessed during the campaign by means of
tracking.
Because the United States imports more goods than it exports, it operates under a(n)
trade deficit.
The Consumer Electronics Conference is an example of a(n)
trade show.
Successful salespeople need to have appropriate personal traits as well as solid _____.
training
In the IMC communication process, the _____ develops or encodes the marketing communication message.
transmitter
Economic, social, and environmental performance refer to the
triple bottom line.
Before approaching a potentially major B2B customer, a salesperson will usually
try to find out everything possible about the firm and its needs.
To minimize conflict, each member of the supply chain should _____ what drives the other members.
understand
When everyone might be considered a potential user of its product, a firm likely uses a(n) _____ targeting strategy.
undifferentiated
PepsiCo markets Pepsi, Mountain Dew, and Gatorade. PepsiCo uses its different brands to pursue a(n) _____ strategy.
undifferentiated targeting (wrong)
Johnston Marine sells and customizes boats. The firm donates generously to the community, supporting veterans' organizations, schools, and local hospitals. But its sales reps routinely mislead prospective buyers regarding the power and reliability of the firm's boats, hoping to increase sales. Johnston Marine is _____.
unethical but socially responsible
In the first stage of the B2B buying process, the buying organization recognizes, through either internal or external sources, that it has a(n) _____ need.
unfulfilled
A focus group interview is a(n) _____ method of inquiry where a trained moderator leads a conversation according to a predetermined outline of the topic of interest.
unstructured
A survey asks respondents, "What are the most important features you would look for in choosing a new automobile, and why?" What type of question is this?
unstructured question
Through social media connections, marketers and customers share information by
uploading pictures, music, and videos.
Each participant in a successful marketing channel adds
value.
In order to compete successfully, most firms today have to provide their customers with better _______ than their competitors.
values
Hilda's company makes gluten-free frozen desserts and has just received a large order from a local supermarket chain. This change in the company's production volume will affect Hilda's
variable costs.
What is the final stage in the business-to-business buying process?
vendor performance assessment
The final stage of the B2B buying process is also known as _____ performance assessment using metrics.
vendor, supplier, or vender
When there is disagreement among members at the same level of marketing channels, such as when Home Depot and Lowe's engage in a price war on Samsung appliances, _____ channel conflict can occur.
vertical (WRONG)
An online network of people who communicate about specific topics is referred to as a (an)
virtual community.
A systematic _____ program collects customer inputs and integrates them into managerial decisions.
voice-of-customer
An ongoing marketing research system that assesses how well companies are meeting their customers' expectations by collecting customer inputs and integrating them into managerial decisions is called a _____ program.
voice-of-customer
Generally, relationships in supply chains exist because the parties _____.
want or need something from one another
Large retailers (100,000 to 150,000 square feet) that offer a limited and irregular assortment of food and general merchandise, little service, and low prices to the general public and small businesses are
warehouse clubs.
A local bakery is known for poor customer service and an unclean environment. These factors would be classified as _____ in a SWOT analysis.
weaknesses
The most important activity in recruiting salespeople is deciding what the salesperson will be doing and
what personal traits and abilities a salesperson should have.
The beginning of the sales presentation may be the most important part of the selling process, because this is when the salesperson establishes
where the customer is in the buying process.
The problem with using the product life cycle concept is that no one can predict the shape that the product's life cycle will take; therefore, it is impossible to know _____.
which stage the product is in
A _____ is an intermediary who sells Hope Springs' bottled water to retailers such as the Coffee Collective.
wholesaler
GE Healthcare knows that different participants fill different roles in B2B purchase decisions. Which of the following is not one of these roles?
wholesaler
Manufacturers make products and sell them to _____, who resell the merchandise to retailers.
wholesalers
According to recent research, the majority of Americans
will refuse to buy products from companies that are opposed to issues important to them.
A direct marketing channel sells a product from a manufacturer to a consumer _____.
without a retailer
Who is the intended target audience for Dole's Fruit Bowls?
working women, age 25-54
The messaging about "moments of childlike delight" is used
worldwide.
