Marketing 340 - Quiz 1 Ch 1,2,4

Compared to the average company, firms with strong ethical climates tend to

Be more socially responsible

Which of the following descriptions embodies conscious marketing principles?

Both ethically and socially responsible

Customers around the world know Pepsi and consider it a primary "go-to" brand if they want a refreshing drink. This positioning reflects Pepsi's

Careful targeting and marketing mix implementation.

Every year, General Mills issues a report discussing how the firm has performed against its own standards of conscious marketing. This report is part of General Mills's __________ phase of its strategic marketing planning process.

Control

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

Marketing enriches society by

Sponsoring charitable events

People who organize, operate, and assume the risk of a business venture are called

entrepreneurs

When Toyota owners began to report problems with sticking accelerator pedals and nonfunctioning brakes, Toyota at first ignored or rejected the claims. Eventually, the company evaluated the issue and issued a recall. Which of the four steps of the ethical decision-making framework was Toyota performing when it recalled several of its 2007-2010 models?

Choose a course of action

Gerald's Tire Store sets itself apart from competitors by the extra attention it pays to retaining loyal customers by providing fast, courteous service in a clean, professional-looking environment. Gerald's has used this strategy for over 40 years, expanding to 15 outlets. Gerald's Tire Store has created a ___________ macro strategy to create and deliver value and to develop a sustainable competitive advantage.

Customer excellence

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.

A competitive advantage based on location is often sustainable because

It is not easily duplicated

H&R is a small, local heating and air conditioning business. The local military base is a potential source of growth, and H&R already installs and services the type of equipment the military would require, but it is difficult to get established as a certified government contractor. H&R is considering a ____________ growth strategy.

Market development

Among Internet users, some do research online, some shop, some look for entertainment, and many do all three. Each of these groups would be called a

Market segment

The primary purpose of the __________ plan is to specify the marketing activities for a specific period of time.

Marketing

The _________ for natural skin care company Burt's Bees is to "create natural, Earth-friendly personal care products formulated to help you maximize your well-being and that of the world around you."

Mission statement

The global athletic footwear market is expected to experience only very slow growth over the next several years. Nike is the market leader. According to Boston Consulting Group portfolio analysis, how should Nike treat its athletic shoe business?

Nike's athletic shoe business still requires some investment, but it is likely to produce excess resources that can be invested in other divisions of the company.

When Walmart issued new standards for livestock products that were raised on food without antibiotics or artificial growth hormones, it considered multiple ______, including the ranchers that supply the food, its customers, and animal welfare groups.

Stakeholders

For years, when considering new products, marketers at Celestial Seasonings asked themselves, "What would Stacy think?" Stacy was a fictional character representing 25- to 50-year-old educated, upper-income women who rarely watched television but did a lot of reading. "Stacy" represented Celestial's primary

Target market segment

The XYZ firm is in Step 4 of its ethical decision-making process. Executives were asked to take the Publicity test using an ethical-decision making metric. All scores were in the "No" column. What does this mean?

The situation is ethically troubling to the executives.

In 2006, Ford Motor Company announced it would severely cut back its automobile production. For parts companies supplying Ford its parts, this represented a(n)

Threat

Trey sells consumer electronics. He knows his customers weigh the costs versus the benefits associated with the different options available. He decides which products to offer and what prices to charge based on the way his customers think. Trey operates as if he were in the __________ era.

Value-based marketing

Courses of action such as halting the market research project, making responses anonymous, and instituting training on the AMA Code of Ethics for all researchers would be identified during the __________ stage.

Brainstorming

When making decisions, managers often have to decide between doing what is beneficial for them (and possibly the firm) in the short run, and doing what is right and beneficial for the firm and for society in the long run. To address this conflict, a firm

must align the short-term goals of each employee with the long-term, overriding goals of the firm.

Darwin's company is facing a difficult ethical issue. The firm has identified the various stakeholders and their issues and gathered the available data. Everyone with an interest in the issue has engaged in brainstorming and evaluating alternatives. Management reviewed and refined the alternatives. It should now choose the course of action that

seems best after weighing the concerns of all stakeholders.

For many years, Southwest Airlines distinguished itself as the low-cost airline. Now, many other low-cost competitors have entered the market. Similarly, Southwest was one of the first airlines to offer online ticketing. Now, all airlines have online ticketing. These examples suggest that

No single strategy is likely to be sufficient to build a sustainable competitive advantage.

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

Opportunity

E-books, in addition to being an alternative product form, provide __________ value creation since they can be downloaded via the Internet immediately when and where they are needed.

Place

Internet sites, physical stores, and kiosks are most closely associated with which element of the marketing mix?

Place

During the __________ era, firms had excess capacity and used personal selling and advertising to generate customers.

sales-oriented

UPS, FedEx, DHL, and other shipping companies support other firms' __________ marketing goals.

supply chain management

In delivering value, marketing firms attempt to find the most desirable balance between

the need to provide benefits to customers and keep down costs.

The "Milk Life" advertising campaign, designed to increase awareness of the health benefits of milk, was intended to help market a(n)

Industry.

Many corporations are shifting from defined benefit to defined contribution retirement programs. When considering changes to retirement programs, the primary stakeholders are the

Employees

When firms successfully implement poor strategies (perhaps due to good luck) or do a poor job of implementing good strategies, it can be difficult to

Evaluate performance and make adjustments.

Anupam's company manufactures industrial ladders. He is concerned that consumers who do not understand ladder safety will purchase these extra-tall ladders and injure themselves. During which phase of the strategic marketing planning process should this issue be addressed?

Implementation

Which element of the marketing mix deals with supply chain management?

Place

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

Place

Marketing channel management is related to which of the four Ps?

Place Explanation: Marketing channel management, also known as supply chain management, is a process that manages the value chain to get products to the right customer when that customer wants it, which is related to the place component of the four Ps.

__________ involves the process of defining the marketing mix variables so that target customers have a clear, distinctive understanding of what a product does or represents in comparison with competing products.

Positioning

Jeff opened a sporting apparel store and signed a lease on the property. He also signed an agreement with the manufacturer on the amount of merchandise he will sell and the promotions he will conduct. Based on this description, which aspect of the marketing mix does he still need to work on?

Price

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

Price

In 2007, Apple Computer introduced its new iPhone, adding a cellular telephone, a camera, and Internet access to its iPod. The company was pursuing a(n) __________ strategy.

Product development

Marketers who design and offer new products and services to their existing customers are pursuing a ____________________ growth strategy.

Product development

When Marvel launched several successful series on Netflix, including Jessica Jones, Daredevil, Iron Fist, and Luke Cage, it employed a ___________ strategy.

Product development