marketing

When developing a marketing mix, a marketing manager should remember that

"Price" includes markups, discounts, allowances, and geographic terms

The following article titles are from Business Week magazine. Which article is most likely to be reporting on a macro-marketing topic?

"Russia increases Output of Consumer Goods"

Universal function of marketing matches which activity? Risk Taking

Insurance Company

________ directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the society's objectives.

Macro-marketing

_____________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets annd develop suitable marketing mixes

Market segmentation

Which of the following newspaper headlines is MOST likely to be seen as a result of changes in the cultural and social environment?

McDonald's aachanges its menu to cater to low-carb dieters

Herbal Essences tries to get shelf space in Target and Walmart because young women frequently shop there for hair care products. This is an example of which of the "Four Ps"?

Place

Which of the following firms is exploring a market development opportunity?

The E-Z-Go golf cart company begins selling golf carts for use in malls, factories, and airports.

The Coffee Collective will need to detail the day-to-day operational decisions that are needed to execute the marketing planning phase. These actions are often organized into the "Four Ps," also called the

The marketing mix

Which of the following stataements about the universal functions of marketing is false?

These functions do not have to be performed in all macro-marketing systems

A marketing plan is

a marketing strategy plus the time-related details for carrying it out

Universal function of marketing matches which activity? selling

advertising agency

Universal function of marketing matches which activity? Financing

bank

Sanders Beverages, Inc. is targeting non-juice drinkers with a new line of healthy fruit juices. Which segmenting demension is most likely being used by Sanders Beverage?

behavioral

Sanders Beverages, Inc. is targeting non-juice drinkers with a new line of healthy fruit juices. Which segmenting dimension is most likely being used by Sanders Beverage?

behavioral

If Joe to Go continues to only offer donuts with its simple cup of black coffee to customers like Gabby's dad, it will ____________with those customers

build profitable relationships

If mom places the highest value on convenience when looking for a cup of coffee and Fivebucks offers her this benefit, from a long-term perspective the overall goal of the company is to __________________with customer value.

build relationships

Universal function of marketing matches which activity? Market Information Gathering

checkout bar code scanner

What does the segmenting step in market segmentation consist of

clustering people with similar needs into a "market segment", aggregating individual customers into market segments, determining an appropriate number of segments, looking for similarities rather than basic differences in needs.

Most universitites publish a set of rules about handling academic problems such as cheating and plagiarism. Students who violate these rules are often referred to the university's Honor Committee that evaluates the charges and decides what, if any, punishment is appropriate. This set of written rules is an example of a(n)

code of ethics

The firms that are considered to be the organization's closest challengers are called _____________ rivals

competitive

Which of the following is/are among the forces that shape the direct market environment>

competitors

A first step in evaluating marketing opportunities is to

consider the objectives and resources of the firm

Universal function of marketing matches which activity? Transporting

container ship

When Martha needs to compare the results of the marketing program for the Coffee Collective and then implement changes basead upon what she finds, she is in the _____________phase of the strategic marketing process.

control

What are the three phases of the strategic marketing process?

control, planning, and implementation phases

Universal function of marketing matches which activity? Standardization & Grading

corn processing mill

The recent interest in physical fitness has forced producers of food, clothing, and other products to reconsider their marketing strategies. Which of the following does this trend illustrate?

cultural and social environment

What are part of the direct market environment

customer, the company itselt, and competitors

Tom and Sally Jones are preparing to purchase a new car. Tom currently has a Toyota Camry and Sally has a Honda Accord. They now have two children under age 5, so they plan to trade in Sally's car to purchase a minivan. Sally and Tom decide on a Honda Odyssey because Sally is familiar with Hondas and thinks they are very reliable. In this purchasae situation, Tom and Sally's family life cycle stage is a ________ segmenting dimension, and the benefit Sally seeks (reliability) is a ______________segmenting dimension

demographic;; behavioral

Marketers segment broad markets into smaller target segments based on a variety of

dimensions

The marketing manager for a financial services firm knows that customer preferences for mutual funds and bond accounts will differ depending on the current interest rate. She must plan her offerings with the _____________ environment in mind.

economic

A market in which sellers offer various, often diverse, ways of satisfying needs is called a ___________ market

generic

The Consumer Product Safety Commission

has broad power to set safety standards and can impose penalties for violation of these standards

Suppose that Justin interviewed for a job with a company that had an excellent reputation for honesty and fairness with customers and employees, but that didn't believe in the need to get involved in the community or with social causes of any type. This company would be considered

highly ethical but not socially responsible

Underlying any economic environment is technology that affects

how the economy's resources are converted to output

Marketing encourages research and ________, the development and spread of new ideas, goods,and services.

innovation

From a micro view, marketing

is a set of activities performed by an individual organization to satisfy its customers

When Colgate encourages its current customers to brush more often by taking their toothbrush and toothpaste to work with them, which market opportuity is Colgate pursuing?

market penetration

Prdicting what types of bicycles different customers will want and deciding which of those customers the business will try to satisfy are activities a firm should do as a part of

marketing

Universal function of marketing matches which activity? Buying

merchandise mart

Which of the following best characterizes the current stance toward free trade in the United States?

moving toward more trade restrictions

Which is the first step in market segmentation

naming a broad product-market of interest to the firm

The Coffee Collective's goal is to provide customers with a unique coffee drinking experience and a loyalty rewards program. In doing so, the Coffee Collective is differentiating their experience in hopes of providing_________________for their customers.

perceived superior value

A detailed plan for handling transportation and storage of a new product that is now being distributed to wholesalers nationwide is an aspect of which part of the "Four:s"?

place

Whart are the three basic marketing management jobs?

planning marketing activities, directing the implementataion of plans, controlling the plans in actual operation

The largest producer of "fu-buster" (radar detectors) sees that many states are increasing the penalty for using them. Clearly, this firm's marketing strategy may have to adapt to these changes in the

political and legal environments

____________ refers to how customers think about proposed or preset brands in a market

positioning

The packaging design for a new flavor of Ben and Jerry's ice cream is an aspect of which component of the marketing mix?

product

When you are "in the market" for a new car and are considering different brands to purchase, what type of market is involved?

product-market

The owner of the new Sharp Scissors hair salon gave coupons to potential customers walking by her store to stimulate interest and offer a trial of her new hair salon. The coupons are an example of

sales promotion

Which of the following represents the basic goal of the marketing concept?

satisfying customers at a profit

Given its interest in the broad product-market for "ready-to-eat, health-conscious snack foods," which of the following should the Good Health Foods Co. do first?

segment the product-market to try to identify homogeneous submarkets and select an attractive target market.

Gina wanted to start a decorating business. She identified several possible target markets, but decided to serve a market composed of recently married couples that owned their first home. Gina appears to be following the ________ approach.

single target market

A marketing strategy

specifies a target market and a related marketing mix.

When conducting a SWOT analysis Martha would need to identify strategies that take advantage of the Coffee Collective's _______ while avoiding________

strengths and opportunities;; weaknesses and threats

Martha categories prospective buyers into groups that have common needs and will respond similarly to a marketing action, she then determines the group she will focu on. This group represents Martha's

target market

Low consumer spending and a lack of adequate financing are conditions that arise mostly due to factors in

the economic environment

In a market-directed economy

the individual decisions of the many producers and consumers make the macro-level decisions for the whole economy.

An organization practicing_______aims all its efforts at satisfying its customers---at a profit.

the marketing concept

The fact that many Americans want the convenience of driving gas-guzzling trucks and sport utility vehicles that also contribute disproportionately to pollution and global warming is an example of

the micro-macro dilemma

An appropriate marketing mix should be determined primarily by

the needs of a target market.

Which of the following functions of marketing involves sorting products according to their size and quality, helping to reduce their need for inspection, and sampling?

the standardization and grading function

A SWOT analysis includes

threats, weaknesses, opportunities, strengths

Assume that Hope Springs was guided by the American Marketing Association Statement of Ethics as described in you textbook. If Hope Springs' website were to post a sustainability report indicating how its marketing practices both help and harm the environment, what ethical value does this report represent?

transparency

Along with studying trends in the environment, a first step in looking for attractive opportunities is to

understand the resources and objectives of the firm.

Differentiation refers to the _______ of the firm's marketing mix to meet the needs of the target market.

uniqueness

Universal function of marketing matches which activity? Storing

warehouse