marketing 300 exam 1

How are act utilitarianism and rule utilitarianism similar?

Both theories have flaws associated with predicting the future consequences of an action

In which way are deontological theory and moral relativism similar?

Both theories may lead to actions that are not ethically correct

Which of the following statements is true of buyers in consumer markets versus buyers in business markets?

Buyers in consumer markets approach purchasing more informally, while buyers in buisness markets approach purchasing more formally

Direct and personal marketing efforts will continue to grow to meet the needs of consumers who no longer have the time to spend shopping and making purchase decisions. Which tool helps marketers meet their demand of consumers?

CRM

Which of the following theories assumes that the outcomes of a current ethical dilemma will be comparible to the outcomes of similar ethical dilemmas?

Casuist ethical theory

Which of the following encompanies the activities of selecting and descring one or more target markets and developing and maintaining a marketing mix that willproduce mutually satisfying exchanges with target markets?

market strategy

Freulia Inc. manufactures and sells stationery and office supplies. It is the beginning to lose its competitive advantage with the entry of new competitors. In this case, to gain a sustainable competitive advantage, what should Freulia do?

Develop the skills and assets of the organization

Which of the following countries has the highest gross domestic product?

Acquardica, whose market value of final goods is $170 billion and market value of final services is $90 billion a year

In the context of the innovation matrix, which of the following decisions is designed to take company strengths into new markets?

Adjacent innovations

_____ involves dividing a market into groups such as newborns, infants, young children, tweens, Millennials, Generation X, Baby Boomers, and seniors

Age segmentation

Which of the following correctly defines the role of an export broker?

An export broker is an intermediary who plays the traditional broker's role by bringing buyer and seller together

Which of the following statements is true of the innovation matrix?

As a company moves away from its core capabilities, it moves through a range of innovation

Unlike Hispanic Americans, most

Asian Americans are most likely to purchase products online

Which of the following statements is true of the incomes of Baby Boomers in the United States?

Baby Boomers' current incomes are relatively low because many have retired

Identify which statement is true regarding African Americans.

Because of their rich heritage, African Americans believe in strong cultural connections

A firm which produces replicas of famous paintings of reputed and great artists has its target customers: socialities, celebrities, and the hospitality industry. What type of market segmentation is used in this case?

Benefit segmentation

What is the similarity between a stock market and a labor market?

Both are composed of people with specific wants that can be satisfied by particular product categories

which of the following is a similarity between raw materials and component parts?

Both become part of a final product

Which of the following is a similarity between joint ventures and lincensing agreements?

Both involve joining with a foreign company to create a new entity

Which of the following is a tool that governments use to exclude companies from countries with which they have a political dispute?

Boycott

Which of the following actions in primarily associated with a niche strategy?

Choosing a target that is not being served by major competitors

Which of the following acts outlaws discrimination in prices to different buyers; prohibits tying contracts (which require the buyer of one of product to also buy another item in the line); and makes it illegal to combine two or more competing corporations by pooling ownership of their stocks?

Clayton Act of 1914

Which of the following is a written company guideline to help marketing managers and other employees make better decisions?

Code of ethics

Which of the following statements is true of a niche strategy?

Companies that adopt a niche strategy target a single market segment

Which of the following is a difference between component parts and supplies?

Component parts become part of a final product, whereas supplies do not

Which law primarily targets children's products, which are defined as those used by individuals 12 years old or younger?

Consumer Product Safety Commission (CPSC)

Which is true of how reference groups influenece consumer behavior?

Consumers generally use the same criteria as their reference groups to make their own consumer decisions

Which of the following refers to private label manufacturing by a foreign company?

Contract manufacturing

Which of the following represents a business's concern for society's welfare?

Coporate social responsibility

Which of the following statements is true of rule utilitarianism?

Decisions must benefit the maximum number of people through the fairest and most universally just means available

Fincorp, an investment banking firm, promotes its offerings through various social media platforms. Which of the following statements is most likely to be true about Fincorp?

Fincorp can create conversations with its customers and establish meaningful connections

Which of the following is true of outsourcing?

Firms can face production delays due to faculty parts

Which of the following refers to a system in which prices of different currencies move up and down based on the demand for and the supply of each currency?

Floating exchange rates

Which of the following laws prohibits bribery of foriegn officials to obtain business?

Foreign Corrupt Practices Act of 1977

Saving money is a major priority for ___________, who are generally economical and look for value when making purchases.

Gen Xers

The population group born between 1965 and 1978, who value education and knowledge, and who tend to do significant research before making a major purchase is known as

Gen Xers

Which of the following is considered an individual characteristic that influences a person's buying decisions?

Gender

Based on age segmentation of a target market, which group is at peak earning power but seeks to spend only on products that provide the best value for money?

Generation X

______ helps marketers develop marketing programs tailored to prospective buyers who live in small regions or who have very specific lifestyle characteristics

Geodemographic segmentation

Which of the following refers to the total market value of all finalgoods and services produced in a country during a given time period?

Gross domestic product

Jason was born in 1970. He spent most of his childhood without much adult guidance as both his parents were working professionals. In this case, which of the following is most likely to be true of Jason?

He is independent, resilent, and adaptable

Jordon is a sales manager. He operates at the postconventional level of morality while making ethical decisions. In this case, which of the following statements is true?

He will be concerned about how he sees and judges himself over the long run

Which congressional act protects consumers against terroist actions?

Hoemland Security Act of 2002

Which of the following defines the key goal of an SBU that is a very successful cash cow?

Hold

Which of the following is NOT a factor of the external environment?

Human resources of the organization

To develop a successful segmentation scheme, marketers gather data about the population within specific geographic boundaries, the number of people in various age categories, and other social and demographic characteristics. This example describes which of the four basic criteria used to develop useful segment schemes?

Identifiability and measurability

Which staement about the pyramid of corporate social responsibility is true?

If a company does not make a profit, then the other 3 responsibilities- legal, ethical and philanthropic are moot

Which of the following is true about he different is true about the differnent stages of business development of a multinational corporation?

In the third stage, multinationals operate an entire line of business in another country

____ is a common base of demographic segmentation

Income

Which of the following indicates a benefit of outsourcing?

Increased corporate growth

The administrative head of a company proposes to replace and revolutionize the office furniture for the employees' comfort. Which of the following roles does the admistrator play in this scenario?

Initiator

Schools, hospitals, colleges and universities, churches, labor unions, fraternal organizations, civic clubs, foundations, and other so-called nonbusiness organizations are the components of which business market segment?

Institutions

Which of the following is true of a firm that acts as a consumer marketer?

It can also be a business marketer

Which of the following is a disadvantage of cause-related marketing?

It can be lead to consumer cause fatigue

Which of the following could be a motive for a company going global?

It can earn additional profits, Management may have exclusive market information about foreign customers, It has a unique product or technological adavantage not available to other international competitors

Which of the following staements is true of the external envrionment with regard to developing a marketing mix?

It continually molds and reshapes the target market

Which of the following is correct regarding the benefit of globalization?

It creates access to global export markets and advanced technology

Which of the following statements is true of business marketing?

It deals with products that are used to facilitate an organization's operations

Which of the following statemnents is true about a marketing plan?

It defines the business mission and objectives

Which of the following statements is true of lifestyle segmentation?

It divides people into groups based on socioeconomic characteristics such as income and education

When considering ethical theories, which statement is true of moral relativism?

It does not believe in absolute rules

Which statement is true of market segmentation?

It helps marketers design marketing mixes that match the characteristics of one or more segments

which of the following statements is true of accessory equipment?

It includes goods such as portable drills, power tools, and microcomputers

Which statement is true of cause marketing?

It involves the cooperate efforts of a for-profit firm and a nonprofit organization for their mutual benefit

Which of the following is true regarding the number of customers in business markets?

It is lot easier for business marketers to idnetify prospective buyers, monitor current customers' needs, and levels of satisfaction

Which of the following is correct about the product development strategy of Ansoff's strategic opportuniy matrix?

It is marketing strategy that entails the creationof new products for present markets

When making an ethical decision, if there is strong consensus among that an action may bring harm to others, which of the following is most likely to occur?

It is more likely that marketers will recognize that behavior as unethical

Identify which statement correctly describes the effect price has in the marketing mix

It is what a buyer must give up to obtain a product

Martha visits a departmental store and discovers that a box of imported chocolates will cost her 10 percent more than what she had paid six months ago. Similar increases in prices across most goods and services is happening throughout the country. In this scenario, which statement is true?

Martha's purchasing power would remain unchanged if she has a pay raise to match the inflation

_______ is the largest Latin American trade agreement, and it includes Aregntina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, and Venezuela

Mercosur

In the context of family life cycle segmentation, which of the following statements is true?

Middle-aged married couples with or without children have high average purchase of durables

People born between 1979 and 1994 and who comprise the largest group in America's work force are known as

Millennials

This group is idealistic and pragmatic and the top brand attributes important to them include trustworthiness, creativity, intelligence, authenticity, and confidence. Identify this group

Millennials

Which of the following statements is true about the federal government?

No single federal agancy contracts for all the government's requirements, and no single buyer in any agency purchases all that the agency needs

Which of the following scenarios illustrates the use of processed materials in manufacturing?

No-Glut Inc. uses rice flour to manufacture its gluten-free products

The owners of Vogue, an apparel store based in California, want to expand the store's business all over the world. In this cae, which of the following strategies can help the owners of Vogue achieve their objectives?

Opening an e-commerce site

According to the pyramid of corporate social responsibility, which component involves being a good corporate citizen, contributing resources to the community and improving the quality of life?

Philanthropic responsibilities

_______ is the process of anticipating future events and determining strategies to achieve organizational objectives in the future.

Planning

Which of the following statements is true of markets?

They are composed of people or organizations

Which of the following statements is true of Baby Boomers?

They are most concerned with price and quality when making purchase decisions

Which of the following statements is true of MRO(maintenance, repair, or operating) supplies?

They are normally standardized items that purchasing agents routinely buy

Which statement is true about younger Millennials?

They are not seeking a lifelong career with one company

Which of the following statements is true of raw materials that are used as business products?

They are usually sold in large quantities

Whichh of the following about African Americans is true?

They generally expect brands to support social causes

In a direct foreign investment arrangement, which statement is true of the direct investors?

They have the highest potential reward

Which of the following statements is true of processed materials?

They include materials such as sheet metal, chemicals, specialty steel, treated lumber, and plastics

Which of the following is true of consumers in consumers in consumer markets?

They normally buy products rather then lease them

In the context of the Boston Consulting Group's (BCG's) portfolio matrix, which of the following is true of SBU's considered to be question marks?

They operate in a high-growth industry with a low market share

Which of the following statements is true of gatekeepers in a buying center?

They regulate the flow of information

Jane and Kyle, have been married for four years, recently had a baby girl. Given their current stage in the family life cycle, which statement is most likely true of their spending behavior?

They will increase their spending on health care, clothing, housing, and food

Marketers at Keurig, makers of coffee machines, are developing promotional strategies to increase product sales. In this case,which of the following strategies would its marketers likely use to improve product/brand awareness among the public?

They would print pamplets that elaboare the products' features

As long as smartphone are manufacturered adnare in demand, the demand for new apps will never die. This exemplifies ______ demand

joint

In the consumer decision making process, ___ extends customer interactions to new sources of value, such as related products or partnered businesses

journey innovation

Marketers know that reinforcement and repetition boost

learning

Which of the following is true of leasing?

leasing allows firms to reduce capital outflow, acquire a seller's latest products, receive better services, and gain tax advantages

Hydralicious, a beverage producer, had to close a production facility because health inspectors found that the storage containers at the facility did not meet the standards set by the government. In this scenario, a(n) ________ factor affected Hydralicious's business

legal

Business firms can stimulate innovation by:

letting employees know that they have the freedom to fail

The legal process whereby a company allows another firm to use its manufacturing process, trademarks, patents, trade secrets, or other propretary knowledge is

licensing

A U.S. licensor will be most successful at maintaining effective control over licensees and preventing them from voiding the contract by

locally registering patents and trademarks

capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings fall under the category of

major equipment

An advantage of business markets having fewer customers in comparison with consumer markets is that it

makes it easy to identify prospective buyers

The step of choosing a basis or bases for segmenting a market requires creativity, market knowledge, and

managerial insight

Which statement is true about tweens?

Tweens are heavily influenced by social media and the Internet regarding what is on trend or relevant

The foreign Corrupt Practices Act (FCPA) was enacted because congress was concerned about

U.S. corporations' use of illegal payments and bribes in international business dealings

Which of the following statements is true of a target market?

Uncontrollable elements continually evolve and create changes in a target market

The Key tool in the marketing strategy of every successful organization for reaching the targeted customer is

market segmentation

The process of defining, dividing, and subdividing a large homogenous market into clear identifiable segments having similar needs, wants, or demand characteristics is identified as

market segmentation

In the context of the porfolio matrix, which statement is gennerally true of SBU's considered to be dogs?

typical marketing strategies for dogs are to harvest or divest

Chipotle stated they were "in the market for Mexican food" by competing on quality instead of price. Chipotle is a company that prides itself on serving "food with integrity." Which mass market targeting strategy did it use when entering the market?

undifferentiated

Laelle is a confectionery company that manufactures candies. It does not use specific strategies to target children while marketing its products. Instead, it uses the same strategies to promote its candies among all consumers in the market. In this scenario, Laelle uses a(n) _____.

undifferentiated targeting group

A firm using a(n) _____ essentially adopts a mass-marketed philosophy, viewing the market as one big market with no individual segments

undifferentiated targeting strategy

Which of the following ethical theories states that the most ethical choice in a situation is one that produces the greatest benefit to the most people?

utilitarian ethical theory

The underlying elements of a society that distinguishes it from other cultural groups are

values, language, myths, customs, rituals, and laws

The 80/20 principle holds the 20 percent of all customers generate 80 percent of the demand. Although the percentages usually are not exact, the general idea often holds true. Which consumer market segment is described here?

Usage-rate segmentation

Advertisments of Dove soap show real women in its campaigns and commercials rather than celebrities. Which product positioning has Dove chosen for marketing its soap?

Uses or appliactions by means of positioning

Which of the following practices can help businesses gain a cost competitive advantage?

Using simplified production techniques

Which of the following statements is a difference between wholesalers and retailers?

Wholesalers sell mostly to retailers and other organizational customers, while retailers sell mainly to final consumers

An intermediary in the global market that assumes all ownership risks and sells globally for its own account is called

a buyer for export

when a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity

a joint venture

A statement of what is to be accomplished through marketing activites is called

a marketing objective

A company that is heavily engaged in global trade, beyond exporting and importing, is called

a multinational corporation

According to the three levels of ethical development, which statement is true of coventional morality?

a person at this level is more concerned with how an action will be viewed by others

A period of economic activity chracterized by negative growth, which reduces demand for goods and services is called

a recession

When considering the roles in decision making that family members play when someone wants to buy a good or service, the member who suggests or plants the seed for the purchase process is called the

initiator

GE has been in the news lately for _____, or bringing back the production of GE appliances to its Louisville, Kentucky plant from China

inshoring

nicholls state university

institution

the united houma (Indian) nation

institution

Which of the following characteristics distinguishes business products from consumer products?

intended use

Bumble & Bumble is a large company that manufactures and sells hair care products. It plans to adopt a product development strategy. In this case, Buumble & Bumble will

introduce a new product line of chemical free, all-natural shampoos to its present customers

According th Ansoff's strategic opportunity matrix, unlike market development, product development

involves creating new products for present marks

A concentrated targeting strategy differs from an undifferentiated targeting strategy in that a concentrated targeting strategy

involves the selection of a market niche to target the marketing efforts of a firm

Unlike a sustainable competitive advantage, a cost competitive advantage

is subject to continual erosion

Griffen Corp. is engaged in marketing various goods and services. It buys products from various manufacturers and sells them businesses and end consumers. Given this information, Griffin Corp. is said to be selling consumer products if:

it sells books to students

Which of the following is true about inflation?

Inflation is an indicator of the decrease in the value of money

Which of the following statements is true of Generation Y?

Its members have been delaying marriage longer than any other generations

In the context of business products, which of the following is a difference between major equipment and accessory equipment?

Major equipment is depreciated over time, whereas accessory equipment is charged as an expense in the year it is purchased

A premise of the Boston Consulting Group model states which of the following?

Management must find a balance among the SBUs that yields the overall organization's desired growth and profits with an acceptable level of risk

Which of the following statements is true of Gen Xers?

They have acquired a disproportionate amount of spending power

Dreamgirls is a well-known San Diego women's apparel store. The owners of the store want the store to go global; hence, they have created a website. In this scenario, doing business online

immediately puts Dreamgirls in the international marketplace

The marketers at Carrier have prepared a marketing plan for the company's air conditioners. Carrier's management team have outlined several activites ffor their account executives based on this marketing plan and set a deadline and allocated a budget for each activity. Which of the following stages of the marketing plan is illustrated in this scenario?

implementation

Unlike nonmarketing-controlled information sources, marketing-controlled information sources:

include mass media advertising

A _______ segmentation has the advantage of being simpler and easier to use

single-variable

Accoridng to Maslow;s hierarchy of needs, the most basic human needs are

physiological needs

Which of the following is correct about a sustainable competitve advantage?

It cannot be copied by the competition

Unlike hedonic value, utilitarian value:

can be viewed as a means to an end

McDonald's

reseller

Whic of the following statements is true of a utilirarian?

A utilitarian compares similar predicted solutions and uses a point system

From the following, identify the correct sequence of decision-making steps shen buying a new or expensive product.

(1) Need recognition, (2) information search, (3) evaluation of alternatives, (4) purchase, and (5) postpurchase behavior

Which activities are involved in the process of marketing?

1. Marketing involves building long-term, mutually rewarding relationships with customers2. Marketing focuses on practices that deliver value and benefits to customers3. Marketing employs the combined use of commincation, distribution and pricing strategies

Which of the following identifies a difference between a boycott and a quota?

A boycott is the exclusion of all products from certain countries or companies, whereas a quota is a means of protection from foreign competition

Which of the following is NOT true about culture from the perspective of a global marketer?

A company that does not understand a country's culture may try other means to succeed in the country

Sanofi is a pharmaceutical company that designs its products to suit the needs of a group of people with similar characteristics. In this case, Sanofi should target which of the following market segments?

A group of individuals who are diabetic

Which of the following is a difference between a joint venture and contract manufactoring?

A joint venture is formed when a domestic firm buys part of a foreign company to create a new entity, while firms choose contract manufacturing to avoid being involved in licensing

In the correct of SWOT analysis, which of the following can be considered a strength of a organization?

A superior production technology

All of the following are required conditions for an exchange except? A. Desire to deal with the other party exists B. Each party is free to accept or reject the offer C. Parties are capable of communication and delivery D. Something of value must be present E. At least three parties must be involved

E. At least three parties must be involved

Which term refers to the optimum utilization of assets so that firm continues making profit in the long-run?

Economic sustainability

When a husband decides to buy his wife a wedding anniversary gift, he takes extensive measures to buy an apt an lovely gift for his wife. Which type of involvement does this consumer behavior demonstrate?

Emotional involvement

Engineering Services provides consulting services to corporate clients such as Caterpillar and John Deere in the United States. Engineering Services would like to increase its revenues and capture additional clients. Which of the following statements might be true for Engineering Services?

Engineering Services may be able to utilize the Internet to expand globally

Which of the following is an example of a competitive advantage due to a product service differentation?

Establishment of a strong brand name

Which of the following is true about the European Union (EU)?

European Union (EU) is one of the world's most important free trade zones. It has member countries such as Austria, Belgium, Bulgaria, the Czech Republic, Denmark, France, and so on, and it guarantees the freedom of movement of people, goods, services, and capital between member states

Which of the following is NOT correct regarding the practice of inshoring?

Expanding development and manufacturing timelines have contributed to inshoring

The most popular source of information about government procurement is

FedBizOpps

Which of the following does a business exhibit when if describes itself in terms of goods and services rather than in terms of the beneifits customers seek?

Marketing myopia

NY Fashions, a clothing company that designs in its New York headquarters and manufactures apparel in Malaysia, now practices inshoring. Given this information, which of the followong is most likely to be true of NY Fashions?

It keeps its research team in close proximity to its domestic manufacturers

Crystal Cruises, a luxury cruise company, is providing a promotional offer to markits twenty-fifth anniversary. Customers will receive a complementary cruise ticket upon purcahse of three balcony tickets. In this case, which of the following is a likely outcome of its promotional strategy?

It may increase the sales of Crystal Cruises

When selecting strategies for targeting markets, which of the following is a disadvantage of an undifferentiated targeting strategy?

It often results in sterile, unimaginative product offerings that have little appeal to anyone

Which of the following statements is a feature of the Foriegn Corrupt Practices Act(FCPA)?

It prohibits U.S. coporations from making illegal payments to foreign governments

Which of the following is an advantage of a multisegment targeting strategy?

It provides economies of scale in manufacturing and marketing

Which of the following statements is a characteristic of countertrade?

It refers to a form of trade in which all or part of the payment for goods or services is in form of other goods or services

Which of the following indicates the impact of the Patient Protection and Affordable Care Act on marketing?

It revamped the U.S. healthcare system and specifically mandated and subsidized health insurance for individuals

Quarter Sawn Oak makes and sells original handcraft oak furniture and cabinet products. The managemement of the company has been successfully using a niche strategy for years. In this case, which of the following is the most likely to be true of Quarter Sawn Oak's business?

It serves only a limited geographic market

When considering corporate social responsibility, which is true of stakeholder theory?

It states that a company is expected to be a good citizen in its community

The manager of TruColor Printers Inc. has purchased a sophisticated printing press for $1 million. Which of the following statements is most likely to be true about the printing press?

It will depreciate over its useful life

Magnira Inc. plans to implement a market penetration strategy to increase its market share. According to Ansoff's strategic opportunity matrix, which of the following scenarios is most likely to happen?

It will try to increase its market share among existing customers

Javier, a Hispanic Milleninial, completed his bachelor's degree in the year 2017 and is looking forward to having a successful career. Which of the following behaviors is Javier most likely to be associated with?

Javier embraces parts of his original culture

Which of the following is true about joint ventures?

Joint venetures are usually the only way a government will allow a foreign company to enter its country

a business relationship in which executives sit on the boards of their customers or suppliers; trade with each other whenever possible; and often engage in joint product development, finance, and marketing activity. The following affirmation represents

Keiretsu

Which of the following is a pshchological factor that impacts consumer buying decisions?

Learning

Which of the following statements is true regarding how external environmental factors impact companies?

Managers cannot control elements in the external envirionment that impact consumers' wants and needs

Tropical Horizions has opened its spas in Thailand, Indonesia, and Malaysia and its aggressively expanding into countries around the Meditterrean. This illustrates which of the following startegies of Ansoff's strategic opportunity matrix?

Market development

Marie and her sister Janet saw an ice-cream vendor. Marie bought herself her favorite chocolate ice cream, and Janet wanted to rty a new flavor that the ice-cream man told her about. Marie liker her ice cream, but Janet did not like the new flavor. Which attributes of reinforcement do you observe in this scenario?

Positive and negative reinforcements

In the consumer decision-making process, ____ uses information- either based on past interactions or collected through external sources-to instantaneously customize the customer experience

Proactive personification

Paul Green is one of the leading women's show companies in Germany. It manufactures leather shoes that are similar to those produced by luxuary European brands. The management of the company has decided to adopt a product/service differentiation competitive strategy. In this scenario, what would Paul Green be likely to do?

Produce boots, and sandals that have specialized features

Peng Inc., and oil refinery, buys crude oil and converts it into various products such as gasoline, Kerosene, and diesel. Peng Inc. then sells these products to other companies or retailers. Based on this information, which segment of the business market is most likely represented by Peng Inc.?

Producers

Which of the following refers to altering a basic product to meet local coditions?

Product adaptation

Which of the following denotes the example of more than 100 unique Pringles potato chip flavors having been invented for international markets?

Product invention

Which of the following is a difference between product invention and product adaptation?

Product invention involves dratically changing an existing product, while productadaptation involves slightly altering a basic product

The CAN-SPAM Act

Prohibits commercial emailers from using false addresses and presenting false or misleading information.

______ occurs when cosumers feel that making the wrong decision might cause some concern or anxiety

Pshychological risks

______ is an example of routine response behavior

Purchasing groceries

______ refers to how an individual actually perceives himself or herself

Real self-image

Which of the following statements is true of relationship marketing?

Relationship marketing has become more important than before because competition has become more intense

Which of the following strategies can enable companies to gain a cost competitive advantage?

Removing frills from production

Lauren buys groceries every month from Walmart and rarely does much research on the products she buys. What is the marketing term for this type of consumer behavior?

Routine response behavior

______ occurs when consumers change information that conflicts with their feels or beliefs

Selective distortion

_______ is a process whereby a consumer notices certain stimuli and ignores others.

Selective exposure

If the director of a company aspires to become its managing director, works hard toward that goal, and achieves the position. Which of his needs is fulfilled according to Maslow's hierarcy of needs?

Self-actualization need

_______ is how consumers see themselves in terms of attitudes, perceptions, beliefs, and self-evaluations

Self-concept

Which of the following core values strongly influeneces the attititudes and lifestyles of Americans?

Self-sufficiency

Jessica was born in 1994. She spends more time on Facebook than reading magazines. Despite her preference for spending time online at social networking sites, she does listen to the radio and read occasionally. Given this information, which of the following statements is true of Jessica?

She is a younger Milennial

Allen, a Human Resources manager in a multinational firm, is recruiting employees. Rebina, one of the candidates, introduces herself and shares some of her background. From a marketer's [oint of view, which of the following things she said is considered a demographic factor?

She lives in California

Sinesia is a country that has very few sources of potable water. Given this information, which of the following is most likely to happen?

Sinesia will remain an importer of foodstuffs

Whenever a particular fashion house brings out a new product line, it publicly launches the products in a grand social event, invites society's who's who, and lavishly displays its new products. What term best describes this type of consumer involvement?

Social visibility

A family that strongly values good health and fitness encourages their family members to take up sports; their gorcery list, too, is full of nutrious choices which aid good health. The children in that family follow the same lifestyle pattern when they raise their families. Which term best describes this pattern of behavior?

Socialization process

_______ is a learned ability to differentiate among similar products such as different brands of blue jeans

Stimulus discrimination

Which of the following refers to the idea that socially responsible companies will outperform their peers by focusing on the world's social problems and viewing them as opportunities to build profits and help the world at the same time?

Sustainability

Which of the following refers to a group of people or organizations for which an organization designs a marketing mix intended to satisfy the needs of that group?

Target market

Which of the following is accurate with regard to Asian Americans?

The Asian American growth has been fueled primarily by immigration

Which federal agency reviews mergers and acquisitions, and challenges those that would likely lead to higher prices, fewer choices, or less innovation?

The Bereau of Competition

Alex purchased a battery-operated drill. Due to a manufacturing defect, the drill overheated and exploded when he used it for the first time. Alex lodged a complaint against the firm that manufactured the drill with the Consumer Product Safety Commission (CPSC). Given the situation, which of the following is most likey to happen?

The CPSC can fine the offending firm up to $500,000

Which of the follwoing federal agencies has the power to set mandatory safety standards for almost all products that consumers use example cribs, electronics and video games, school supplies, science kits, toys, and pacifiers?

The Consumer Product Safety Commission (CSPC)

Which legislative action created the Consumer Financial Protection Bereau (CFPB)?

The Dodd-Frank Wall Street Reform and Consumer Protection Act

Marketers cannot advertise for adulterated and misbranded food or drug products due to the power of

The Food and Drug Administration

Which of the following companines is in the first stage of developing a global business?

The Footwear Corp., which manufactures shoes and boots in a small town in Lucitona, sells its products to several countries around the world

_________ was founded in 1945, one year after the creation of the World Bank, to promote trade through financial cooperation and eliminate trade barriers in the process

The International Monetary Fund (IMF)

Which of the following made several major changes in world trading practice?

The Uruguay Round

_______ is a trade agreement that has dramatically lowered trade barriers worldwide and that led to the creation of the World Trade Oragnization

The Uruguay Round

Which of the following eliminated the extensive loopholes of the General Agreement on Tariffs and Trade (GATT)?

The World Trade Organization (WTO)

Which of the following correctly defines balance of payments?

The difference between a counry's total payments to other countires and its total receipts from other countries

Intix Inc. is a manufacturer of mother boards for computer systems, which sells its product to the firms which manufacture assembled computers. Which of the following is true in this scenario?

The finished items are ready for assembly or are products that need very little processing before becoming part of some other product

which of the following statements is true of the the North American Industry Classification Sysytem (NAICS)?

The more digits in an NAICS code, the more homogenous the group

________ refers to the phenomenon in which a small increas or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.

The multiplier effect

Which of the following comprise(s) the competitive envrionement of a firm?

The number of competitors present in the market, The relative size of the competitiors, The degree of interdependence within the industry

Which of the following accurately reflects current population trends in the United States?

The populations in the rural regions of the United States are aging

This demographic group belonged to the Great depression generation and had the ability to quietly perserve through great hardships. They were taught to play by the rules and tend to be cautious and are the healthiest, most educated, and wealthiest group of elders. Identify which demographic group is described

The silent generation

Lowe's carries nearly 40,000 different products and operates over 2,000 locations across the US and Canada. For example, it would be difficult to find snow plows in Southern Louisiana. This is an example of which segmentation? a. Geographic b. Location c. Demographic d. Geodemographic e. Regional

a. Geographic

Patagonia follows a market-oriented approach, whereas Columbia believes in a sales-oriented approach. Considering their approaches, it is evident that___________ has have a competitive edge in today's market. a. Patagonia b. Columbia c. neither d. both

a. Patagonia

Colonel Technologies is a relatively mature tech company operating out of Southern Louisiana. Over the years, the organization has introduced several products and services, including servers, game consoles, app development, and web design to name a few. Fifteen years ago, CT launched a resudential.commerical security division or business unit. The company was well-positioned to develop and manufacture both the hardware and software components in this industry. When it was introduced, their products were innovative, and the entire business unit was relatively untested. For certain, the launch of the division was a risk, but it was calculated risk that CT believed was worth taking due to the market's immense growth potential (rate). As it was a new division introducing a new technology into an existing market, CT's security division held a very low relative market share. In this scenario and in the context of the BCG Portfolio Matrix, CT's new security division would be considereda. a. question mark b. a disruptive technology c. an innovation matrix d. a star

a. a question mark

The strategy that depends on customer-oriented personnel, effective traing programs, and empowered employees is called a. customer relationship management b. customer value c. customer satisfaction d. customer orientation

a. customer relationship management

Stacy, a customer of Associated Bank, feels that bank has met her expectations for high-quality service. She gives the bank high ratings on their feedback form and also recommends the bank to her friends and family. Stacy's evolution of Associated Bank is a reflection of a. customer satisfaction b. customer value c. customer relations d. consumer management

a. customer satisfaction

The relationship between benefits and the sacrifice necessary to obtain those benefits is known as a. customer value b. customer satisfaction c. empowerment d. teamwork

a. customer value

Regarding product orientation, product-oriented firms can survive if: a. demand exceeds supply and competition is weak b. non of the above c. competition is weak and supply exceeds demand d. the firm successfully crowds out their strongest competitors e. management solely focuses on the customer needs and wants

a. demand exceeds supply and competition is weak

Which of the following activities is not required to achieve a market orientation? a. employing a high-quality sales force to aggressively promote goods and services b. examining information about customers, competitors, and markets from a business perspective c. determining and implementing actions to provide and deliver added value to customers d. obtaining information about customers, competitors, and markets

a. employing a high-quality sales force to aggressively promote goods and services

Employees are more likely to take prudent risks to build stronger business and sustain the company's sucess in addition to taking responsibility for their action when they are a. empowered to immediately resolve customer problems b. not pressurized with deadlines c. given less work d. offered extensive training

a. empowered to immediately resolve customer problems

A good mission statement should a. focus on a limited number of goals, be customer oriented, satisfy basic customer needs and wants, and capture a shared purpose and provide motivation to employees b. focus on a limited number of goals, be customer oriented, aim to maximize economic profit, and capture a shared purpose and provide motivation to employees

a. focus on a limited number of goals, be customer oriented, satisfy basic customer needs and wants, and capture a shared purpose and provide motivation to employees

Which of the following activities is not true of the marketing concept? a. focusing on internal capabilities rather than on customer wants and needs b. integrating all the organization's activities so satisfy customer wants c. focusing on customer wants and needs in order to distinguish products from competitor's offerings d. satisfying customer wants and needs legally responsibly

a. focusing on internal capabilities rather than on customer wants and needs

all of the following are benefits of globalization expect: a. it discourages competition b. it acts as a check on government power c. it expands economic freedom d. it promotes higher labor and environmental standards e. it offers access to foreign markets

a. it discourages competition

All of the following are reasons why market segmentation is important except: a. it guarantees that your organization will gain a competitive advantage b. it plays a key role in the marketing strategy of successful organizations c. it can be a powerful marketing tool d. it helps marketers define customer needs and wants precisely e. it helps decision makers define objectives and allocated resources more accurately

a. it guarantees that your organization will gain a competitive advantage

identify a critical component of a market-oriented firm a. it understands the strengths and weaknesses of competitors b. it embraces marketing as a means of selling things and collecting money c. it encourages intermediaries to aggressively push products d. it focuses primarily on the internal capabilities of the firm

a. it understands the strengths and weaknesses of competitors

PQR Corporation is a sales-oriented firm that focuses on high sales. It does not take into account the customer's wants and needs, and instead concentrates on manufactoring products that will reap high profits. this attitude might lead to the firm's missing business opportunities because ________ a. its the focus on manufacturing specific products may not meet needs and wants b. it focuses on providing value and benefits to its customers instead of meeting company objectives c. it emphasizes-enhancing individuals' and society's long-term best interests d. it concentrates on relationship building, empowerment, and teamwork

a. its the focus on manufacturing specific products may not meet needs and wants

Companies that place customers at the center of their business are those that follow a _______ orientation a. market b. sales c. societal d. production

a. market

When a firm believes that the social and economic validation for its existense its obtained from achieving their organizational objectives by satisfying customer wants and needs legally and responsibility, then that firm is said to be _______ oriented. a. market b. production c. societal d. sales

a. market

Lagniappe Shipping's marketing team, following extensive research, proposes to the executive leadership that a strategic opportunity exists in the port of Lisbon, Portugal. Thi si snot an area of the world where Lagniappe had operated before. The marketing team has identified new potential clients that would be interested in the services already provided by Lagniappe. In the context of Ansoff's Opportunity Matrix, this is an example of a. market development b. market penetration c. diversification d. international development

a. market development

A firm that acknowledges the importance of all four marketing mix decisions( product decsions, place or distribution decisions, promotion decsions, and pricing decision's) is a ____ firm a. market-oriented b. societal-oriented c. production-oriented d. sales-oriented

a. market-oriented

The management at Asus Computers believes that high sales will result in high profits. Together with the company sales force, management devises a sales startegy to promote their new line of convertible laptops based on the assumption that consumers will purchase a product it the company promotes it aggressively. This sales hypothesis can be attributed to the company's _______ orientation. a. sales b. production c. market d. societal

a. sales

Applying employees' collaborative efforts to accomplish common organizational objectives is known as a. teamwork b. training c. relationship management

a. teamwork

A production-oriented firm is one that focuses on a. the internal capabilities of the firm b. enhancing individuals' and society's long-term best interests c. aggressive sales techniques d. the needs and wants of the customers

a. the internal capabilities of the firm

in class, we discussed the concept of competitive advantage. What is the best definition of competitive advantage? a. the unique set of features of a company that, in the eyes of the consumer, are perceived as significant and superior to the those of the competition b. the set of characteristics that a company possesses in the marketplace that allows it to compete effectively with its competitors c. the advantage one company enjoys over their specific segment in the market

a. the unique set of features of a company that, in the eyes of the consumer, are perceived as significant and superior to the those of the competition

Identify the situation(s) in which a production-oriented firm can survive or prosper in the market place. a. when demand exceeds supply b. when supply exceeds demand c. when competition is strong d. when competition is weak

a. when demand exceeds supply and d. when competition is weak

Starlight Jewelry sends Lauren a birthday card along with a pendant as a token of appreciation for shopping frequently at its store. this trend in customer relationship management aims at cultivating its customers by

acknowledging their loyalty

According to which of the following ethical theories does a person choose to act in a way that benefits the most people, regaurdless of law or personal feelings?

act utilitarianism

According to Ansoff's strategic opportunity matrix, which of the following factors is associated with market development?

add new uses to current products

A company is most likley to fail to achieve a marketing objective if there are changes in the environment

after the objective is specified and the strategy is implemented

The specific form of research that attempts to develop new or improved products is called

applied research

According to family life cycle segmentation, middle-aged married couples with or without children

are difficult to promote by advertisement

Given current demographics in the United States, Miliennials

are now greater in number than Baby Boomers

Hispanic Americans in the United States

are the largest segment of the population to use mobile devices for any type of transaction

Carlos and Darius are best friends. Carlos regularly runs marathons and is a member of the Marathon Runners Club at his university. Darius also wants to join the club, but he is not a very strong runner. Darius decides to start running every day so that he can participate in marathons and become a member of the club. For Darius, the Marathon Runners Club can be categorized as a(n)

aspirational reference group

The attention that social media attracts, such as the number of followers or fans and which is generally used as the first step in the marketing funnel, and when social media is often paired with paid digital media like display advertising na d text-based ads to increase its effectiveness, is often referred to as

awareness

______________ is the marketing of goods and services to individuals and organizations for purposes other than personal consumption. a. B2B product b. Industrial marketing c. B2C marketing d. Consumer marketing e. C2C marketing

b. Industrial marketing

When a firm believes that employing aggressive sales techniques would help sell their product in the market, then the firm is said to have adopted a _____ orientation. a. market b. sales c. production d. societal

b. sales

An organization that devises strategies to convince a customer to buy their product in spite of acknowledging the mismatch between the customer and the product is said to be a ________ organization a. societal-oriented b. sales -oriented c. customer-oriented d. market-oriented

b. sales -oriented

As social media network, Facebook has evolved to fill users' needs for a variety of communication beyond simply updating their status, posting photos or video from their day-to-day life. Users like Rachel can now post messages that they are looking to buy or sell items. Rachel recently posted that she had a solid oak ding room table and chairs for sale in great condition for $2.50. Caleb and his partner have been looking for a dining room set but they don't use Facebook-only instagram and Twitter. Is it likely an exchange will occur? a. Yes, it is likely an exchange will occur because there are at least two parties b. No. it is not likely an exchange will occur because the parties are not using the same platforms of communication c. No, it is not likely an exchange will occur since it's not known whether the dining room set is of value to another party d. Yes, it is likely an exchange will occur as each party will consider the other to be a desirable exchange partner

b. No. it is not likely an exchange will occur because the parties are not using the same platforms of communication

Which marekting philsophy could most help a company outperform its competitors in today's marketplace? a. a societal marketing orientation b. a market orientation c. a sales orientation d. a production orientation

b. a market orientation

Successful relationship marketing strategies depend on a. costumer-oriented personnel, effective training programs, employees with high levels of restricted authority to make decisions and solve problems, and teamwork b. costumer-oriented personnel, effective training programs, employees with authority to make decisions and solve problems, and teamwork c. sales-oriented personnel, effective training programs, customers with authority to make decisions and solve problems, and teamwork

b. costumer-oriented personnel, effective training programs, employees with authority to make decisions and solve problems, and teamwork

A firm that has adopted a societal marketing oreintation focuses on a. aggressive sales techniques b. enhancing individuals' and society's long-term best interests c. the internal capabilities of the firm d. encouraging intermediaries to push their products

b. enhancing individuals' and society's long-term best interests

A U.S. furniture company sources wood from various vendors in order to build its line of dining room table. The wood used in this example would not be counted in the national _______ valuation. a. import/export b. gross domestic product c. economic d. intermediate e. productivity

b. gross domestic product

All of the following are advantages of defining a firm's mission in terms of benefits that customers seek except for which one? a. encouraging innovation, creativity, and developing new ways to satisfy customer expectations b. management can focus on creating an aggressive sales force c. stimulating an awareness of changes in customer desires and preferences so that product offerings remain relevant d. keeping the firm focused on its customer, instead of becoming preoccupied with its internal needs

b. management can focus on creating an aggressive sales force

The management of Under Armour's apparel department has thoroughly analyzed the market and resources the wants and needs of different customer groups. It takes all these findings into consideration and develops different types of goods that cater to each group. From this scenario, it is evident that UnderArmour is a _____ organization a. societal-oriented b. market-oriented c. sales-oriented d. production-oriented

b. market-oriented

Maught Office Supplies is evaluating growth opportunities by reaching new market segments, specifically younger professionals that are working from home due to covid-19, as the marketing team conducts it research of this group, they are finding it very difficult to acquire data on this group, the problem is that sources show various demographic information and in many cases, whether or not the segment is employed, however, there is little data available that describes the work situation, and more specifically, if the work is being down in-person or remotely, in this scenario, the remote-working market segment is not ______ a. actionable b. measurable c. profitable d. responsive e. substantial

b. measurable

Maught Enterprises decides to engage in market penetration strategies in Northern India. To do this, the company partners with local subsidiaries and provides those entities with autonomy to develop and serve their respective markets as they see fit. that said, the relationship has been established as a licensing agreement and as such the local subsidiaries are essentially franchises, the autonomy granted to the franchises to compete in their own markets is an example of a(n) a. multinational strategy b. multi domestic strategy c. global standardization strategy d. multicultural strategy e. licensing agreement

b. multi domestic strategy

McDonald's is considered a multinational corporation. If you go to a franchise in Tokyo, London, and New York City, you will see differences in how the menu is set up, differences in distinct offerings, and certain items the can't be found in other locations. In this scenario, which global marketing strategy is McDonald's deploying? a. subsidiary strategy b. multi-domestic strategy c. none of the above c. global standardization strategy e. global vision strategy

b. multi-domestic strategy

A company that creates a marketing strategy to attrct consumers who want to interact anywhere anytime and expect interactions with the company to be easy is most likely practicing a. sales-oriented marketing b. on-demand marketing c. societal-oriented marketing d. innovation marketing

b. on-demand marketing

Tower tools is known for adopting a strategy that focuses on designing new products based on thier assessment of the capabilities of their engineers and on the easy availability of resources. The firm's approach, which emphasizes the ease of production and the talents of its resources rather than the needs and wants of the marketplace, can be attributed to its_______ orientation a. market b. production c. societal d. sales

b. production

When a firm focues on its internal capabilities rather than on the desires and needs of the marketplace, then the firm is said to have adopted the ____ orientation a. market b. production c. sales d. societal

b. production

The strategy of improving relationships with existing customers, which is based on the assumption that most customers prefer to maintain an ongoing relationship with one organization rather than switch continually among providers in their search for value, is defined as a. customer value b. relationship marketing c. empowerment d. teamwork

b. relationship marketing

According to sales-oriented firms, marketing means ____ a. enhancing individuals' and society's long-term best interests b. selling goods and services and reaping profits from them c. employing practices that deliver value and benefits to customers d. building long-term, mutually rewarding relationships with customers

b. selling goods and services and reaping profits from them

Jacqueline has decided to set up a company designing and selling premium quality face masks during the Covid-19 pandemic. Though she is physically located in Southern Louisiana, she has her sights set on markets across the world. In order to have the ability to sell to other markets in foreign countries she has set up a website to take online orders. She will design, manufacture and ship all products from her home base in Louisiana. In this scenario, Jacquline's business is in which phase of developing a global business? a. she engages in virtual operation b. she operates in one country and sells into others c. she imports finished goods from other countries d. she operates an entire line of business in another country

b. she operates in one country and sells into others

In the context of marketing, which of the following statements is true of nonprofit organizations? a. they aim to maximize market share and investment returns b. they exist to achieve goals other than business-related goals c. they make use of extensive advertising and promotional activities d. they market tangible products

b. they exist to achieve goals other than business-related goals

what is true about teens? a. this group has little influence on purchases made by parents or grandparents b. this group has a tremendous buying power, including spending their own money c. this group typically adopts technology passed down to them from their parents

b. this group has a tremendous buying power, including spending their own money

Karen Holmberg is a cultural anthropologist and studies volcanoes in remote locations across the globe. Her research attempts to uncover how volcanic eruptions impact the local culture. Her research is an example of ________ research

basic

The form of research that aims to confirm an existing concept or to learn more about a phenomenon is called

basic research

Equality, a core American value that strongly influeneces the attitudes and lifestyles of people, means that

be one should expect to be treated differently from anybody else

Two types of Institutional purchasers exist: one type operates similarly to governments, in that the purchasing process is influenced, determined, or administered by government units. The other type of purchasers

behave more like producers

Panasonic produces products in various categories, such as visual systems, professional cameras, computer products, communications, and security. Panasonic caters to _____ market

both a business and a consumer

Bethany is hungry and wants to go to a good restaurant to eat and relax. She chooses Morton's The Steakhouse for its ambiance and good food. Her experience provides

both hedonic and utilitarian value

Carrying over a well-known and respected brand name from one product category to another product category is referred to as

brand extension

If an organization has an SBU that it believes has the potential to be a sta, the best allocation of future resources woule be to ______ that SBU

build

The producers, resllers, governments, and institutions are categories of customers of a ________ market

business

A ________ is used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers

business product

L&T, an international manufacturer of electrical and electronic products and systems, also manufactures custom-engineered switchboards for industrial sectors such as power, refineries, petrochemicals, and cemet. In the electronic segment, L&T offers a range of meters and provides control and automation systems for industries. The company manufactures _______ and markets exclusively to _____-

business proucts, business customers

Outside providers who perform janitorial, advertising, legal, managment consulting, marketing research, maintenance, are examples of

business services

Relationship marketing is a crucial element in a firm's approach to its customers. Which of the following is not a reason that relationship marketing is so important in business to business marketing? a. Competition has become more intense b. None of the above c. End-user completion has become more intense. d. Business suppliers use social networking sites to advertise themselves to businesses e. Costumers have become more demanding

c. End-user completion has become more intense.

What is the best definition below for Customer Relationship Management? a. the company-wide business strategy of building and maintaining strong customer relationships in order to achieve short-term company goals b. the market-oriented approach to maximizing profit through attracting new costumers c. a company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups

c. a company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups

Which activity is considered to be the starting point for building relationships with customers? a. offering generous discounts to all customers b. increasing business with existing customers c. attracting new customers d. retaining current customers

c. attracting new customers

A customer's assessment of whether an organization's goods or services have met his or her needs and expectations is defined as a. customer value b. customer management c. customer satisfaction d. customer relationship

c. customer satisfaction

Walmart is the largest reailer in the world withbrick-and-mortar stores and a growing internet business. Walmart continues to innovate and utilize technology to create opportunities to bring customers to the store such as its service to provide customers the opportunity to shop online and pick-up at the store. Walmart has also faced criticism due to its practices of paying workers low hourly wages and making it difficult for part-time employees to get group health insurance. Many consumers such as Jalen refuse to shop at the store due to their concerns about low wages for workers. Based on this scenario, which criteria for an exchange to occur is missing? a. each party has something of value to offer another party b. there must be at least two parties c. each party is willing to consider the other to be a desirable exchange partner d. each party must be capable of communication and delivery

c. each party is willing to consider the other to be a desirable exchange partner

Achieving a market orientation involves: a. obtaining information about costumers, competitors, and markets, implementing actions to provide value to costumers, focusing on volume of sales to maximize profit, and determine how to deliver superior customer value b. obtaining information about costumers, competitors, and markets, implementing actions to provide value to costumers, focusing solely on cost efficiency, and determine how to deliver superior costumer value c. examining the information from a total business perspective, implementing actions to provide value to customers, determining how to deliver superior customer value, obtaining information about customers, competitors, and markets

c. examining the information from a total business perspective, implementing actions to provide value to customers, determining how to deliver superior customer value, obtaining information about customers, competitors, and markets

market-orientated firm has a competitive advantage over its sales-oriented counterpart because a. it enhances society's long-term best interests b. it focuses primarily on the internal capabilities of the firm c. it defines its business in terms of benefits its customers seek d. it focuses on aggressive sales techniques to sell its products

c. it defines its business in terms of benefits its customers seek

Which of the following is a drawback of the sales orientation? a. it gives excessive importance to the needs and wants of the marketplace b. it gives importance to the production function over other functions c. it frequently cannot convince people to buy goods that they don't want or need d. it places high emphasis on the assessment of manufacturing plants and facilities

c. it frequently cannot convince people to buy goods that they don't want or need

A firm could benefit from a production orientation when a. it focuses on what products company management thinks should be produced, and hopes customers want b. competition is strong c. it produces exactly what the market wants d. the market demand is less than the products supplied by the firm

c. it produces exactly what the market wants

Which of the following is NOT a benefit of globalization? a. promotes higher labor and environmental standards b. expands economic freedom c. lowers a nation's productivity and living standards if it opens itself to the global market d. offers access to foreign capital, global exports markets, and advanced technology

c. lowers a nation's productivity and living standards if it opens itself to the global market

The process of delivering relevant experiences that are integrated across both physical and virtual environments, throughout the consumer's decision and buying process, is known as a. societal marketing b. empowerment c. on-demand marketing d. team-building

c. on-demand marketing

The research and development team of BB Beverages had discovered that, during the testing process, one of their highly profitable new beverages contains ingredients that may cause liver damage in humans if consumed regularly over time. Additionally, the team also acknowledged that the plant that manufactures this beverage draws healthy groundwater which could cause a water shortage in areas surrounding the plant. Based on these findings, management has halted its production of the beverage until a solution can be found that does not adversely affect its consumers and the environment. Given this decision, it is evident tahtBB Beverages embraces a ________ orientation. a. sales b. production c. societal marketing d. market

c. societal marketing

Which of the following statements is a feature of the Foreign Corrupt Practices Act (FCPA)? a.) it prohibits US corporations from involvement in international business dealings b.) it offers significant advantages to US businesses dealing in countries in which the use of illegal payments and bribes is acceptable c.) none of the above d.) it prohibits US corporations from making legal payments to foreign government e.) it cannot prosecute cases of bribery

c.) none of the above

Which of the following occurs when sales of a new product cut into sales of a firm's existing products?

cannibalization

A business that requires a greater expediture for equipment than for labor is called

capital intensive

In the portfolio matrix, a business unit that generates more cash than it needs to maintain its market share is called a

cash cow

Which of the following ethical theories first identifies an ethical dilemma and then draws a comparison with other similar dilemmasand prior experiences to reach the best possible solution?

casuist ethical theory

Talbot's, a women's clothing store, produces a special scarf that it sells on Octoberto coincide with breast cancer awareness month. For every purchase of the scarf, Talbot's will donate 50% of the retail price to the Komen Foundation. Talbot's is engaging in _____ marketing.

cause-related

A buisness firm is collaborating on an initiative with a nonprofit organization by providing public-relations training to working professionals throughout a country. Twenty percent of the fee that the particpants would pay is given to the nonprofit organnization. The nonprofit organization in turn reaches a wider range of audience across the country for its training program. This scenario illustrates

cause-related marketing

A socially responsible marketing effort by a for-profit firm and a nonprofit organizationthat targets social or other charitable causes is referred to as

cause-related marketing

Philips, a large seller of energy-efficient light bulbs, uises extensive promotional strategies to stimulate sales. Marketers at Philips have noticed that a competitior is steadily gaining market share, and they want to counter the compettition unmediately by increasing the sales of Philips' bulbs. Giventhe situation, which of the following is the quickest and easiest step that Philips' marketers can take to stimulate the sales of its products?

changing the pricing strategy

When considering the social factors that affect marketing, people with component lifestyles are

choosing products that meet their diverse needs

By sending postpurchase letters and giving guarantees on products to comsumers who have bought their company's products or organization's services, marketing managers can help reduce consumers; _____.

cognitive dissonance

The price component of a marketing mix is

competitve weapon for companies

The lifestyle characterized by choosing goods and services according to the activities consumers engage in and the interests they express rather than conforming to a single, traditional lifestyle is called a

component lifestyle

Chipotle has become popular with a variety of people. It recently identified a primary customer segment in Millennials. To win over this demographic group, traditional media is less authentic in the perception of Millennials, therefore, Chipotle does not use traditional media, and its marketing and promotion focus on maintaining a large online and social media presence. Here, chipotle is likely to use

concentrated targeting

Rolls Royce cars target only the premium car market segment. This is a classic example of

concentrated targeting

Tennot Inc. sells used cars. It focuses solely on low-income customers who prefer to buy an old car rather than a new one. Therefore, it develops one marketing mix that targets the low-income group. In this scenario, Tennot Inc. most likely uses a(n)_____.

concentrated targeting strategy

A product bought to satisfy an individual's personal wants or needs is a _______ product

consumer

B-to-B companies use digital marketing to position their business as thought leaders and generate sale leads, primarily in the form of

content marketing

Marina buys a new pair of shoes from Repop, an online store. She logs in to Repop's website and finds that her homepage has been customized to display the status of her latest purchase. In this scenario, Repop is using ____ to exert influenece over the decision-making journey

contextual interaction

When following up on a marketing plan the _______ process provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correctingactions that do not help the organization reach those objectives within budget guidelines.

control

Which of the following processes provides the mechanisms for comparing marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines?

control

In the context of the innovation matrix, decision take at the ________ level implement changes that use existing assets to provide added convenience to existing customers and potentially entice customers from other brands.

core innovation

________ is a business's concern for a long-range welfare of both the company and its relationship to the societywithin which it operates.

corperate social responsibility

Whih of the following is/are the benefits of outsourcing?

corporate growth, cost saving, increase in the productivity and revenue growth

A form of trade in which all part of the payment for goods or services is in the form of other goods or services is called

countertrade

A marketing decision maker who is concerned only with whether a proposed action is legal and how it will be viewed by others is demonstrating which level of ethical development?

coventional morality

Allan protests against individuals who litter on roads because that society expects cleaniness from people. This illustrates

coventional morality

In which level of ethical development does a person move from a self-centered viewpoint to behaviors that adhere to the norms of society?

coventional morality

The socializing force that governs what is ethically right and wrong is called

culture

______ is the set of values, norms, attitudes, and other meaningful symbols that shape human behavior and the artifacts, or products, of that behavior as they are transmitted from one generation to the next

culture

Companies that successfully implement customer relationship management (CRM) tend to

customize the goods and services offered to their customers

A sales-oriented company is one that focuses on a. the internal capabilities of the firm b. the needs and wants of the customers c. enhancing individuals' and society's long-term best interests d. aggressive sales techniques

d. aggressive sales techniques

Which of the following is a similarity between a production orientation and a sales orientation? a. both fail in market where demand exceeds supply b. both place little emphasis on the assessment of manufacturing plants and facilities c. both ignore the importance of assessing a firm's internal capabilities d. both lack an understanding of the needs and wants of the marketplace.

d. both lack an understanding of the needs and wants of the marketplace.

_______ if the he practice of choosing goods and services that meet one's diverse needs and interests rather than conforming to a single, traditional way of life a. complex lifestyles b. conforming lifestyles c. cross-market lifestyles d. component lifestyles

d. component lifestyles

The Marriot group of hotels is keen on building relationships with customers. To ensure success in this effort, the attitudes and actions of its employees need to be ______ oriented a. socially b. sales c. production d. customer

d. customer

The authority that employees are given to swiftly solve customers' problems is referreed to as a. teamwork b. customer value c. training d. empowerment

d. empowerment

Generally speaking, the cosmetics industries still segment markets primarily by ___________. a. income b. age c. ethnicity d. gender e. geography

d. gender

demography is the study of people's characteristics that includes the following expect: a. what ones ancestry or ethnicity is b. how old someone is c. none of the above d. how costumers engage in lifestyle choices such as hobbies and areas of interest

d. how costumers engage in lifestyle choices such as hobbies and areas of interest

the USMCA agreement between the US, Mexico, and Canada, replaced the formed NAFTA trade agreement, the key ares of emphasis included all of the following except: a. expanded financial service markets b. increased de minimis shipment value level c. clarified protections around intellectual property d. increased labor standards to protect Canadian jobs e. increased accountability measures around currency values

d. increased labor standards to protect Canadian jobs

colonels incorporated is an American technology company, specializing in security software. their software as well as hardware design is proprietary and as such requires trademarking and patenting depending on the situation. currently, colonel inc operated several manufacturing and distribution sites abroad in foreign countries. recently, in order to help protect their intellectual property as well as keep their chief developers and logistics experts in close proximity to home operations, the company has decided to return a large portion of their foreign operations to the US, this is an example of a. inspiring b. domesticating an industry c. production protection d. inspiring labor e. outsourcing

d. inspiring labor

Which of the following statements is true of on-demand marketing? a. it places maximum emphasis on aggressive personal selling strategies b. it requires firms on the internal rather than the external business environment c. it is the most important strategy used by sales-oriented firms d. it is aimed at enhancing customer relationships

d. it is aimed at enhancing customer relationships

which of the following statements is true of the marketing concept? a. it overlooks the importance of understanding the competitive arena and competitor's strengths and weaknesses b. it states that firms should give maximum importance to aggressive promotional and advertising activities c. it states that marketing solely means selling things and collecting money d. it states that an organization should satisfy customer wants and needs while meeting organizational objectives

d. it states that an organization should satisfy customer wants and needs while meeting organizational objectives

Which of the following is a hallmark of relationship marketing? a. focusing on internal capabilities of the firm b. aggressive sales techniques c. enhancing society's long-term best interested d. long-term focus on customer needs

d. long-term focus on customer needs

The management of intel believes that success cen be achieved with a thorough understanding of its competitive area and by developing products that satisfy the needs, wants, and expectations of customers. Therefore, Intel can be said to have a ____ orientation a. societal b. production c. sales d. market

d. market

When a firm believes that the sale of a product depends on the decision of the customer rather than on aggressive sales techniques, then the firm is said to be ______oriented a. societal b. production c. sales d. market

d. market

You are the chief marketing officer for a regional men's clothing store. Your company is interested in opening a new location in Thibodaux, LA. Your first data point shows that Thibodaux has an overall population of 30,000 residents. This data point defines the ______________. a. customer grouping b. demographic segment c. income segment d. market e. market segment

d. market

The designing of activities relating to marketing objectives and the changing marketing environment is referred to as: a. environmental scanning b. SWOT analysis c. strategy d. marketing planning

d. marketing planning

Companies that are developing new ways to integrate and personalize each stage of a customer's decision journey are practicing a. sales-based marketing b. production-based marketing c. empowerment d. on-demand marketing

d. on-demand marketing

To increase the sales of low-involvement products, marketing managers can

focus on the package design of the products

When an organization believes that apart from acheiving its targets and satisfying customers, it also needs to be responsible for preserving or enhancing individuals' and society's long-term best interests, then the organization is said to have a ____ orientation a. customer b. sales c. production d. societal marketing

d. societal marketing

Which of the following statements is true of market-oriented firms? a. they focus on their internal capabilities rather than on the desires and needs of the customers b. they claim that people must give up something in order to receive something else they would rather have c. they believe that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits d. they assume that the sale of goods or services does not depend on an aggressive sales force but rather on a customer's decision to purchase that product

d. they assume that the sale of goods or services does not depend on an aggressive sales force but rather on a customer's decision to purchase that product

Morals can be defined as: a.) the means used to maintain behavioral norms and regulate conflict b.) the standard of behavior by which conduct is judged c.) none of the above d.) the rules people develop as a result of cultural values and norms e.) the moral principles or values that generally govern the conduct of an individual or a group

d.) the rules people develop as a result of cultural values and norms

Which is an important basis for establishing competitive advantage and differentiating one's company from competitors?

delivering consistent, high-quality customer service

A cosmetic company manufacturers products for skin and hair care for both men and women in the 20-to 50-year-old age group. Which type of market segmentation approach does the company undertake?

demographic segmentation

Fast casual restaurants such as Chipotle, are expanding because firms recognize that potential customers are predominantly young people. This scenario illustrates how _______ influence marketing decisions

demographics factors

The study of people's essential statistics, such as age, race and ethnicity, and location is called

demography

Jack is told by a foriegn official that he cannot obtain the contract that he critically needs unless he pays a bribe. Which of the following ethical theories would not allow bribing?

deontological theory

Which of the following ethical theories believes that people should abide by their obligations and duties when confronted with an ethical dliemma?

deontological theory

active ownership of a foreign company or of overseas manufacturing or marketing facilities is called

direct foreign investment

Samsung, an elctronics and appliance manufacturer, decides to launch its new line of smartphones on the company's official websiteto resolve logistics issues that the company has identified. With this modification, its customers can now buy the smartphones directly from samsung even if they are not available in retail locations near potential consumers. In this case, Samsung focuses on the _____ element of the marketing mix

distribution

A market max typically involves

distribution strategies

The important functions of providing credit, aggregating supplies from multiple sources, making deliveries, and processing returns often are all carried out by

distributors

A company is doomed to failure in a foreign country if it

does not understand the foreign country's culture

In the porfolio matrix, a business unit that has low growth potential and a small market share is called a

dog

Frito Lay and Taco Bell - to the great benefit of all society - collaborated on products such as the Doritos Locos Tacos and taco-flavored Dorito chips. This is a delicious example of a. Strategic alliance b. Joint venture c. Development consortia d. Partnership e. All of the above

e. All of the above

this group is more idealistic and eager to please a. baby boomers b. generation x c. generation z d. tweens generation y

e. Generation Y

which of the following would be included in the annual US Gross Domestic Product calculations? a. a pallet of cedar boards b. wool c. an ink cartridge d. a windshield e. a shovel

e. a shovel

Lafourche Parish manufacturers steel components for the auto and farm industries. part of their marketing efforts includes managing a robust social media presence in order to reach these industries on a global scale, located in southern Louisiana, the company uses the power of social media to reach potential markets that would not have heard of the Lafourche products, in this scenario, lafourche products is using social media to increase which of the following: a. diversification b. conversion c. content creation d. format development e. brand awareness

e. brand awareness

When a multinational company sends jobs abroad by building a production facility in another country, the company is said to be ________. a. outputting b. globalizing c. inspiring d. labor manipulating e. outsourcing

e. outsourcing

which of the following is not involved in environmental scanning? a. understanding how costumers make decisions b. understanding the competition c. identifying the most valuable customers and their needs d. understanding current costumers e. recruiting quality personnel

e. recruiting quality personnel

Rochelle wants to purchase a new gaming laptop. She wants to compare two of the latest models of gaming laptops-with similar build, quality, and hardware specifications-from different manufacturers. Rochelle reads reviews of each product on reputable online forums before making her decision. In this scenario, Rochelle seeks data

from a nonmarketing-controlled information source

Inland Eastex Inc. manufactures toothpastes. Even when the company increased the price of its toothpastes last year, the sales did not drop. This is an example of _____.

inelastic demand

Just after graduating from college, Mr. Maught took a job as a high school Spanish teacher and athletic coach at a boarding school. One of the responsibilities included action as the senior boys dormitory admin. In fact, his apartment was located on the same floor as the students. During onboarding, the residential life director trained all dormitory administrators on how to carry out the duties required. During that training, it was made very clear that dorm admins should fully adhere to their obligations and duties when faced with any situation, including ethical dilemmas. This is an example of which ethical theory? a.) moral relativism theory b.) virtuous behavior theory c.) casuist ethical theory d.) act utilitarianism theory e.) deontological theory

e.) deontological theory

In class, we discussed several modes of social control that are important to marketing. All of the following are examples except: a.) laws b.) ethics, c.) active civil society d.) self-regulation e.) employee handbook

e.) employee handbook

A code of ethics does all of the following to help marketing managers make better decisions except: a.) helps employees identify acceptable business practices b.) facilitates discussion among employees about right and wrong c.) helps control behavior internally d.) avoids confusion in decision making e.) regulates daily operations with clear and codified guidelines

e.) regulates daily operations with clear and codified guidelines

A law compelling a company earning from the markets overseas to sell it to a control agency, usually a central bank, is called

ecchange control

As a commitment to diversity and inclusion, Bank of America partnered with the American Ad Council on a campaign known as "Love Has No Label." the campaign was a roaring success as it touched upon which positioning base of its audience?

emotion

In the context of SWOT analysis, marketers can idnetify strengths and weakness by focusing on

employee capabilities

The purpose of market segmentation is to

enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments

Terra Corp. produces a wide range of furniture, such as cabinets, book cases, and bureaus. It divides its consumer market into several groups of people who have similar interests in wooden furniture. The strategy of dividing its consumer market most likely

enables Terra Corp. to define customer needs and wants more precisely

New technology that allows marketers to collect detailed information of customers offers marketers a more cost-effective way to reach customers and

enables businesses to personalize their messages

GE's Instagram account shares behind-the-scenes looks at their business and employees. One post about the first female wind technican in Western Canada received over 1,000 likes. With regard to business-to-business social media marketing, this effort by GE is an example of the ________ marketing metric

engagement

GoPro is arguably one of the top non-celebrity brands on Instagram. A lot of the content they share is from customers using their products. The GoPro page has over 10 million followers, gets hundreds of thousands of tweets, comments, and shares on every post. This exempifies the metric of

engagement

The collection and interpretation of data about forces, events, and relationships in the externsl environment that may affect the organization's future or its marketing plan implementation is called

environmental scanning

Quality, service, and price are three important components of ________

evaluative criteria

Developing long-term sources of clean water to improve health and preserve local ecosystems while creating a competitive advantage in an example of

evironmental sustainability

A group of brands that results from an information search that a buyer can choose among is referred to as the buyer's

evoked set

A(n) _______ is an intermediary who brings a buyer and a seller together

export broker

_______ is the most complex type of consumer buying decision and is associated with high involvement on the part of the consumer

extensive decision making

The _______ is an orederly series of stages in which customers' attitudes and behavioral tendencies evovle through maturity, experience, changing income and status

family life cycle

Currency markets operate under a system of ______, which is a system in which the prices of different currencies move up or down based on the demand for and the supply of each currency

floating exchange rates

Remvault Daires witnessed a steady decline in the sales of its sales of its products due to increased competition in the local market. Remvault Daries plans to adopt the market development strategy. In the scenario, which of the following is the best step the companycan take to rejuvenate its financial losses?

focus on promoting new uses for old products

Pine Groove, a cosmetics brand that primarily caters to women, wants to reach out to the less-traditional male market. It conducts research and develops a new product especially for men. In this context, Pine Groove uses _____.

gender segmentation

The combination of demographics, lifestyles, and geographic categories leads to

geodemographic segmentation

Which of the following is a pshchographic segmentation variable?

geodemographics

________ refers to segmenting markets by region of a country or the world, market size, market density, or climate

geographic segmentation

Marketing that aims at markets across the world is called

global marketing

city of thibodaux

government

Quasio Foods Inc. is a large food manufacturing corporation that earns more profits than its competitors. The company uses only organically grown grains and fruits. It also promotes organic farming and helps nonprofit agencies who focus on food and nutrition causes. The company recently decided to launch use a third-party recycling logo. In this scenario, Quasio Foods is most likely to have adopted the concept of _____.​

green marketing

Ronald Systems Inc. has developed a line of appliances that run on solar energy and cause no harm to the environment. Which of the following business practices is illustrated in this scenario?

green marketing

In the case of SBUs that are cash cows, problem children, or dogs, the basic goal of ______ it to increase short-term cash return withoutincreased concerns for long-run impact

harvesting

The basic goal of ____ is to increase the short-term cash return without too muchconcern for the long-run impact

harvesting

Quinn is the sales manager of a firm with a quationable reputation. Duringhis tenure, he has witnessed numerous incidents of ethical misconduct. Research shows that he would observe less ethical misconduct if

has coworkers had a strong ethical culture among themselves

Fourlotts Inc. is a renowned technological firm. It manages many strategic business units (SBUs) in which each SBU

has its own return on investment

At the preconventional level of ethical development of a person's moral character, the individual tends to

have an egocentric orientation

Unlike the youngest Gen Yers, the oldest members of Generation Y:

have become parents

A difference between Millennials and Baby Boomers, is that unlike Millennials, Baby Boomers

have more purchasing power

Companies at the fourth stage of developing their global business

have their top executives and core corporate functions located in different countries

Javeria wants to take her husband, Matias, to an exotic island to surprise him on their tenth wedding anniversary. She has made reserveations at an expensive hotel. However, she is now worried whether she is going to get service worth the money she spent. In this scenario, Javiera's inner tension would reduce if

her friends also recommend the hotel

The strategy in which an SBU preserves market share so that it can take advantage of a very positive cash flow is called

holding

Melina considers herself a fashionista and would like to be perceived as more fashion oriented than her friends and family. However, her family and friends feel she dresses just like them. In this case, the perception of Melina's friends and family contradicts Melina's

ideal self-image

Unlike external stimuli, internal stimuli:

include stimuli such as hunger and thirst.

Trower Inc. has launched a new smartphone in two different versions. Both variants of the smartphone have a similar design but have different hardware specifications and therefore, different price points. The company uses this strategy to make this smartphone more universally affordable. In this scenario, Trower Inc. is most likely using

income segmentation

Walmart is successful example for retailing. The store emphasizes low pricing in its ads and promotes its message that customers can get more for their money. Walmart likely uses

income segmentation

According to Ansoff's strategic matrix, a firm using the market penetration alternative would try to

increase market share among existing customers

Some metrics like awareness, engagement, and conversion are useful for

increasing the success of a social media campaign

Dumping may result from all of the following exporter business strategies EXCEPT:

increasing unit costs by exploiting largescale production

A firm that adapts an undifferentiated targeting strategy assumes that

individual customers have similar needs that can be met with a common marketing mix

Vactin Corp., a construction company, buys ten truckloads of cement for its new project. Given this information, the cemet bought is an example of a(n)

industrial product

Rues and West Bros., an ammunition manufacturer, defines its mission statement as being in the ammunition-production business rather than in the arms industry. In the given scenario, Rues and West Bros. is exhibiting

marketing myopia

A product information source that originates with marketers promoting the product is referred to as a(n)

marketing-controlled information

Delat Corp. is a large corporation that offers several product lines. On the company's Web site, the following content is highlighted: "The aim of our business is to achieve profitability by offering our customers high-quality products that are manufactured in a cost-effective manner. Our goals are to provide value to our customers, serve the community, and preserve the environment." This content is most likely to be Delat Corp.'s _____.​

mission statement

In a(n) ______ situation, a purchaser wants to make a change in the original good or service

modified rebuy

Mark is a high school math teacher and has a group health insurance. However, his insurance policy has very high deductibles and co-pays for prescription medicines. Mark sometimes has to choose between buying food and paying for his prescribed insulin since he has diabetes. Finally he gets desperate and steals food from a convience store. What ethical theory has Mark displayed in this case?

moral relativism

Quentin is a server at Olive Garden restaurant and enjoys meeting new people who dine at the restaurant. Recently, an elderly couple visited, and Quentin overheard them talking about their financial struggles. They asked Quentin for refills of salad and extra breadsticks that they could take home with them. Quentin agreed even though it was against corporate policy. What Quentin exhibited conforms to the ethical theory of

moral relativism

Which ethical theory does not believe in absolute rules and states that during an ethical dilemma, a personmakes the most appropriate decision by considering all the alternatives and choosing the lesser among evils as the resolution?

moral relativism

Which of the following ethical theories is defined as a belief in time-and-place ethics and holds that ethical truths depend on the circumstances?

moral relativism theory

The rules that people develop as a result of cultual values and norms are called

morals

A _______ strategy occurs when multinational firms enable individual subsidiaries to compete idependently in domestic markets

multidomestic

The Hard Rock restaurant and hotel chain operates locations arounf the world - Las Vegas, New Orleans, Chicago, Shanghai, Paris, and Berlin to name a few. Each lacation outside of the U.S. is considered a subsidiary and allowed to compete independently in domestic markets. Hard Rock is utilizing a ________ strategy

multidomestic

In the context of customer relationship management (CRM), _____ offers marketers a more cost-effective way to reach customers and enables businesses to personalize their messages

new technology

Becky wants to buy a new cell phone. She asks her friends who are technologically savvy to recommend a good, lightweight phone that is easy to use. In this scenario, Becky is obtaining information using a(n)

non marketing-controlled information source

Mr. Shaw wants to buy corporate gifts for his employees. He considers numerous suppliers of corporate gifts, both familar and new, solicits bids, and studies all proposals carefully before selecting a supplier. Mr. Shaw's purchasing profile could be characterized as a(n)

optimizer

apple, ford, IKEA

original equipment manufacturer

Meldrow Inc., a U.S. firm, suffers heavy losses and lays off many of its employees. To reduce its manufacturing costs, it shifts its production units to another country where labor costs are less. In this scenario, Melrow Inc. Is engaged in

outsourcing

Opinion leaders are

people who influence others

The value that a consumer expects to obtain from a purchase is called

perceived value

_______ is a means of displaying or graphing, in two or more dimensions, where the products, brands, or groups of products are located in customers' minds

perceptual mapping

All of the following are types of reference groups EXCEPT

personal

Kirksand Airlines is well-known for providing excellent service to its flyers. The staff members inquire about each flyer's wants and needs and listen carefully to their responses. If a flyer had any specific requests, the staff member ensure that they are immediately attended to. In this scenario, Kirksand Airlines illustrates _________, which has been found successful in spurring on the growth of customer relationship management

personalization

Which of the following is one of the four major components of the pyramid of corporate social responsibility?

philanthropy

Jamal is a marketing manager who, when it comes to ethical decisions, is more concerned about the long-term effects of an ethical decision he makes than what others think of his decision. Therefore, which level of ethical development does Jamal's behavior demonstate?

postconventional morality

Careers often create a _____ for single parents.

poverty of time

Hallie has a tendency to be egocentric. She follows the rules of her company only to avoid punishment and not to gain respect. When making decisions, she always focuses on what immediate benefits she will gain from an alternative. Which of the following stages of ethical development is illustrated in the scenario?

preconventional morality

The total revenue of a firm is calculated by multiplying the number of units sold by the __________ of each unit

price

Which of the following is an element of a marketing mix?

pricing strategies

When an SBU has become a ______, it is essential to either investin it heavily to gain better market share, acquire competitors to get the necessary market share reposition its products, or drop it.

problem child

The firms belonging to construction, manufacturing, transportation, finance, real estate, and food service industries, fall under the category of _________

producers

To position a product as being associated with a particular category of products is positioning by

product class

Unilever is a multinational corporation selling consumer goods under various categories such as foods, beverages, cleaning agents, and personal care products. This is an example of:

product class

The world's best coffee beans come from Colombia. Therefore, the more Colombian beans in a blend of coffee, the better the blend; and no company purchases more Colombian beans than Kreemo Coffee. Which positioning strategy is the company demostrating?

product differentiation

Khokho's Coffee House was the first company to introduce flavored coffee in the global market. It blends coffee in several different flavors, such as blueberry, cinnamon, and cranberry, based on the flavors each country prefers. In this scenario, Khokho's Coffee House is involved in

product invention

Keebler sells cookies and nutrition bars. The marketers at Keebler are trying to develop new and attractive packaging designs for its cookies. In this scenario, Keebler is working on its

product strategy

Volten Inc. is an online apparel store. It has separate sections for casual wear, office wear, and party wear. It offers a broad selection of clothing across various price ranges to accommodate consumers at different income levels. In this way, Volten caters to different socioeconomic groups. Volten targets its market segments using _____ as its base for product positioning.

product user

Providing something to a target market that is unique and valuable beyond simply offering a lower price than that of the competition is called

product/service differentation

Demographics provide the skeleton for developing segmentation strategies, but ________ adds meat to the bones

psychographic segmentation

Gamers' Pageis a magazin that primarily caters to people who are enthusiastic about sports and who enjoy gaming. In this scenario, the editorial board of Gamers' Page uses

psychographic segmentation

______ is market segmentation on the basis of personality, motivesm lifestyles, and geodemographics

psychographic segmentation

One component of promotion within the context of a marketing mix includes

public relations activities

The NAICS (North American Industry Classification System) is a valuable toll for business marketers engaged in analyzing, segmenting, and targeting markets in which each classification group is relatively homogenous in terms of

raw materials required, components used, manufacturing process employed, and problems faced

Anex textiles, Inc. manufactures cloth and buys the chemical dyes for its use from Werth Chemicals, Inc. Worth Chemicals, Inc., in turn, buys uniform material for its employees from Anex textiles Inc. This scenario highlights a specific business practice known as

reciprocity

Social influences are most likely to influence consumer buying decisions by

reducing a feeling of perceived risk or uncertainty regarding a purchase

The social factors that affect the consumer decision journey are

reference groups, opinion leaders, and family

Critics of Ansoff's matrix mention that the matrix does not

reflect the reality of how buisness grow

Once known as a rugs brand, in 2006 Burberry revamped its product line to reinvent itself as a luxury brand by harnessing the power of heritage. Which strategy did Burberry use to influence the overall perception of its brand in the eyes of its old and potential nre customers?

repositioning

wal-mart

reseller

James, an adminstrative manager at Seal Inc., is asked to purchase 100 printers for the firm's office. He contracts a sales representative at Myro Distributors Inc. and places an order for 100 printers. Myro Distributors Inc. purchases the printers from Ink Corp., a wholesaler, and delivers them to James at his office . In this scenario, Myro Distributors Inc. is most likely to be a(n)

retailer

Robin, a police sergeant, believes that bribing is illegal. He does not accept bribes irrespective of the amount of money. Robin displays _____.

rule utilitarianism

Which of the following ethical theories believes in the well-being of maximum people using the fairest means available?

rule utilitarianism theory

The ability to marshal resources, understand the buyer's business goals, respond to requests, and be willing to be held accountable are important characteristics specifically required in

sales representatives

The stage in which multinationals set up foreign subsidaries to handle sales in one country is the _______ in developing a global business

second stage

The Federal Trade Commission's Bureau of Competition

seeks out and challenges ani-competitive conduct in the marketplace

Nalpas Inc., an apparel company, manufactures clothes for men, women, and children. It further divides its core customers on the basis of demographic variables such as income, ethnic background, and family life cycle. Theses demographic variables are examples of _____.​

segmentation bases

Which of the following is a basic criteria for successfully segmenting markets?

segments must be large enough to warrant developing and maintining a special marketing mix

Recently, Lenevo launched a new laptop in the market. Tombe bought the laptop but was disappointed when several cheaper laptops were successfully launched in the market soon after. To deal with his disappointment, he convinced himself that those laptops were inferior in quality. This scenario illustratea

selective distortion

The term that describes a consumer's view of himself or herself in terms of attitudes, perceptions, beliefs, and self-evaluations is known as

self-concept

When considering the determinants of a civil society, which of the following refers to the voluntary acceptance of standards established by nongovernmental entities?

self-regulation

Which of the following is an American value?

self-sufficiency, achievement orientation, upward mobility

A code of ethics

should be in written form to avoid confusion

Linda usually does not spend much time selecting gifts. However, when choosing a fountain pen for her husband's birthday this year, she visited several stores and spent a lot of time asking the staff about different features of the pen before making her purchase. selecting the pen. This scenario illustrates

situational involvement

Web-based and mobile technologies that allow the creation and exchange of user-generated content are called

social media

Which term refers to a type of social responsibility concerned with developing processes and structures that not only meet the needs of a current community, but benefit future generations as well?

social sustainability

Which of the following ethical theories states that is in an organization's social responsibility to pay attention to the interest of every affected stakeholder in every aspect of an organization's operation?

stakeholder theory

In the context of a marketing mix, which business activity is most closely related to a company's distribution strategies?

staorage of raw materials

A person whose behavior illustrates the deontological theory of ethics would

stick to his or her obligations when stuck in an ethical dilemma because doing one's duty is what is considered ethically

A ______ is any unit of input affecting one or more of the five senses: sight, taste, touch, and hearing.

stimulus

At the beginning of every trailer for Steven Spielberg's next release Ready Player One, one hears a voice saying, "From the makers who brought you Jaw, E.T., Schindler's List, and Jurassic Park, we are proud to present Ready Player One." In this example, the movie promoters are using

stimulus generalization

Rolex is a prestigous brand of watch that is sold as a luxury product. It has a reputation based on quality and attention to detail. When the company introduces new timepieces, it can count on an existing =, well-established market for its new products due to

stimulus generalization

Leon buys 5 million sheets of paper from a vendor for his printing firm. He is satisfied with the product, and he orders the same quantity from the same vendor every week. This is most likely an example of a(n)

straight rebuy

Casca Paints Inc., a manufacturer of paints and emulsions, owns a user-friendly Web site. The Web site allows customers to upload pictures of their house and select the colors that best match their expectations. Donnel Designs Inc., an interior decoration firm, enters into a partnership with Casca Paints Inc. As a result, customers can now get a complete interior design solution for their houses. This is an example of a _____.

strategic alliance

Starbucks partnered with Barnes and Noble bookstores in 1993 to provide in-house coffee shops, benefiting both retailers. What kind of partnership does this represent?

strategic alliance

Saraz Inc., a leading brand of apparels, has several branches all over the country. The company's market research shows that teenagers do not choose their brand as often as older age groups. Therefore, the company modifies some of its existing designs to attract teens. In this case, the teenage group can be referred to as a _____.

subculture

The popularity of massive music festivals has created an opportunity for fans fo electronic dance music to get togther and create their own

subculture

A tax levied on the goods entering a country is called

tariff

Unlike people who belong to Generation X, Baby Boomers

tend to be influeneced more by traditional advertising and word-of-mouth recommendations

A federal agency which aims at preventing persons or corporations from using unfair methods of competition in commerce is

the Federal Trade Commission(FTC)

The Uruguay Round replaced the General Agreement on Tariffs and Trade (GATT) with

the World Trade Organization (WTO)

After being influenced by frequent advertisements, Jeremy buys a new cell phone. However, he discovers that the new cell phone does not offer the features he expected. This scenario illustrates that _____ of the purchase is less than Jeremy's expectations.

the actual value

One component of product in a marketing mix is

the company image

Which of the following statements is true of the deontological theory and the utilitarian ethical theory?

the deontological theory states that people should adhere to their duties when analyzing an ethical dliemma, while the utilitarian ethical theory is founded on the ability to predict the consequences of an action

The thorough, systematic, periodic evaluation of the objectives, strategies, structure, and performance of the marketing organization is called

the marketing audit

In the context of a marketing mix, the product component includes

the name of the brand

During an external information search, a consumer is most likely to enlarge his search and consider more alternative brands when:

the perceived risk of the product or service to be purchased increases

When considering ethics in other countries, which of the following statements is true?

the practice of making illegal payments, such as bribes, is accepted and expected in various countries

Jorge prefers to do his grocery shopping at Frasnas Mart because is mother also prefers to shop there. He also does not shop for groceries online because their mother does not. In this case, Jorge's shopping behavior is a result of

the socialization process

Companies selling to business buyers face the same challenges as all marketers of goods and servicess, including determining

the target market and deciding how best to reach it

The imbalance between actual and desired states is sometimes referred to as

the want-got gap

Mass-marketing efforts will continue to be used by marketers

to remind consumers of a product

________ exists when onr party has confidence in an exchange partner's reliability and integrity

trust

Paulina is an eleven-year-old girl. She spends a lot of time on social media and likes mobile games. In this case, Paulina is most likely to be a:

tween

The population group that falls between ages 9 to 12 and presents great opportunity to American markerters with a huge spending power is known as

tweens