Marketing 303 1st Exam

Claire is watching a movie on her iPad using her Netflix app after a long hard day of being a lawyer. Which need is Claire satisfying?

"Me time"

Zara is Sharaya's favorite clothing retailer. Zara is headquartered in Spain, with stores located in many countries. Zara has developed a "quick response" system that allows store merchandise to be adjusted rapidly to fit change customer preferences. Every aspect of Zara's operation is optimized for this system, thus it can be maintained over a long period of time and it is difficult for competitors to duplicate. Zara has established

A sustainable competitive advantage

Suppose that Volkswagen is preparing an RFP (Request For Proposals from potential vendors) for a wireless phone charging port for a new car model. All of the following would be included in the RFP except

A vendor analysis

Henry Ford's statement, "Customers can have any color they want so long as it's black," typified the ________ era of marketing.

A.Production-oriented

The final stage in the business-to-business buying process is to

Assess vendor performance

The process of value ______, in which customer collaborate in product design, often provides additional value to the firm's customers.

Cocreation

Although he has never owned a Jaguar, Elias thinks they are poorly made and have many mechanical problems. For Jaguar to sell Elias a car, the company would need to change the _______ component of Elias's attitude.

Cognitive

Many teenagers have clothes they purchased in the past that they would not be caught dead in today. When they occasionally see those clothes in the back of their closet, these teenagers probably feel

Cognitive dissonance

________ entails a sense of purpose for a firm that is higher than simply making a profit by selling products and services.

Conscious marketing

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

Consultative

During the _____ phase of the strategic marketing planning process, marketers utilize systems to check whether each conscious marketing issue raised in earlier phases were addressed.

Control

This type of blog typically provides the highest level of digital marketing control for companies

Corporate blog

Ironically, while the leaders of Enron Corporation were manipulating the company's finances for their personal benefit, the company was a major donor to Houston area charities. Enron had unethical business practices but was also

Demonstrating corporate social responsibility

__________ attributes are product or service features that are the most important to buyers that are used to differentiate among choices.

Determinant

Macroenvironmental factors include culture, demographics, social trends, and the _________.

Economic Situation

According to one definition, CSR can be described as context-specific actions and policies, taking stakeholders' expectations into account, to achieve what is referred to as the triple bottom line. The triple bottom line includes ________ performance.

Economic, social, and environmental

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

Experience

Mila is a luxury travel concierge. Whenever she sells an expensive vacation package, she encourages the customer to buy travel insurance, which provides reimbursement in case of trip cancellation due to illness or another emergency. Mila is trying to reduce her customers' _______ risk.

Financial

Slack is a communications app that brings together all your communications in one place. It allows you to organize your team conversations, you can send direct messages, make voice and video calls, and drag and drop PDFs, images and documents, and tag your team members. The app is free to download but for a nominal fee, you can access the premium version. Slack is an example of what type of app pricing model?

Freemium app

_________ is also referred to as "digital natives" because they were born into a world that was already full of electronic gadgets and digital technologi

Generation Z

Changes in tariffs and quotas are

Government actions that reduce competition from international firms

Which of the following is a social trend marketers are focusing on lately?

Health and wellness

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

Materialism

When Walmart considers reordering items for its stores, its buyers are instructed to negotiate price concessions, quality improvements, and/or added options. In this situation, Walmart buyers are engaged in a(n) _______ situation.

Modified rebuy

A(n) _______ is a need or want strong enough to cause a person to seek satisfaction.

Motive

If Hailey Bieber posts on Instagram about her RHODE skincare line, the post has the potential to instantly reach all 50.6 million of her followers. What effect of social media engagement is this an example of?

Network effect

Drake has decided to do a SWOT analysis to help him decide how to market his new album, For All the Dogs. He is now focusing on the external environment part of the SWOT. The external environment includes

Opportunities and threats

Leo is considering buying a Tesla, but he's not sure that he believes the distance range (i.e., how far you can go on a single charge). Leo is concerned about the

Performance Risk

________ represents all activities necessary to get the product to the right customer when that customer wants it.

Place

GNI consists of GDP ____

Plus the net income earned from investments abroad

Which element of the marketing mix is most relevant to the activity "capturing value"?

Price

Many Hollywood movie stars were among the first to buy electric hybrid vehicles. These stars often become ______ influencing other consumers' behavior.

Reference groups

In Boston, foot-long sandwiches are called "grinders," while in many other parts of the country they are called "subs." This is an example of the impact of

Regional Culture

When Alyssa decided to buy a new computer, she considered all the brands she could recall seeing advertised and those her friends have. The products she recalled represent Alyssa's _________ set.

Retrieval

Frank lives according to his own rules, unconcerned about designer labels, brand names, and luxury items. Frank is at which level of Maslow's Hierarchy of Needs?

Self-actualization

In most countries, ________ is (are) among the largest purchasers of goods and services.

The central government

The greater discrepancy between a consumer's needy state and the desired state, the greater

The consumer's need recognition will be

In the consumer decision process, we decide how much time and effort to expend searching for information based partly on

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

Which test asks the question, "Would I like to be on the receiving end of this action and all its potential consequences?"

The golden rule test

Rihanna's Fenty Beauty line created a new, organic-based makeup line. Rihanna wants to hire Nikkie de Jager, a renowned makeup artist, to demonstrate the use of the new makeup line on her Tik-Tok and Instagram. Rihanna knows that Nikkie de Jager's followers will be highly interested in the new product line because they care a lot about makeup. Which factor is Rihanna considering when thinking of using Nikkie de Jager as an influencer?

The relevance of Nikkie's experience

In a SWOT analysis, increasing gasoline prices would represent a potential ______ for manufacturers of gasoline cars.

Threat

Limited problem solving usually relies on

past experience more than on external information.

When considering income as a demographic variable affecting marketing efforts, marketers need to recognize that

Income in the US has become more unevenly distributed

Firms that hire (or encourage) well-known and popular people to promote brand messages to their networks of followers are using

Influencer marketing

The Wheel of Social Media Engagement includes the following five effects as drivers of social media: _______, connected, network, dynamic, and timeliness.

Information

When considering global marketing opportunities in Bangladesh, Ryan asked the question, "how will we get our products there?" Ryan is concerned about ______ capabilities in Bangladesh.

Infrastructure

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

Initiators

How might Starbucks ensure that it behaves in a socially responsible way toward members of its supply chain?

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

Using the BCG portfolio analysis, a "dog" should be phased out unless

It complements or boosts the sales of another product