Marketing Exam 1
Which of the following BEST describes the research relationships? A. Observation is best suited for causal research, surveys for exploratory research, and experiments for descriptive research. B. Observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research. C. Observation is best suited for descriptive research, surveys for causal research, and experiments for exploratory research. D. Observation is best suited for exploratory research, surveys for causal research, and experiments for descriptive research. E. Observation is best suited for descriptive research, surveys for exploratory research, and experiments for causal research.
B
Which of the following identifies a change in the technological environment that could affect the success of a business? A. A company packages its product to be twice the size of its predecessor. B. A company develops a new battery that lasts twice as long as its predecessor. C. A company develops a customer support program that customers rate twice as responsive as the previous program. D. A company develops a new battery that costs twice as much as its predecessor. E. A company develops a new warranty that lasts as long as its predecessor.
B
Which of the following statements about big data is correct? A. Analyzing big data is a very easy task. B. One result of big data is that marketing managers are often overloaded and overwhelmed with information. C. Analyzing big data will always lead to useful customer insights. D. Big data is very important because marketers today need more information to make good decisions. E. Big data actually refers to very small data sets.
B
You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In exchange, you receive a small payment. You are participating in a(n) ________. A. experiment B. focus group interview C. individual interview D. immersion group E. ethnographic study
B
Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six years, sales have continuously declined and profits have almost completely disappeared. The CEO of Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to Tina's Tunes? A. Tina's tunes are likely to prosper as mistrust in the digital age increases. B. Tina's Tunes is likely to fail because it is ignoring the natural environment. C. Tina's Tunes will experience a rebound as the fear of the Great Recession declines. D. Tina's Tunes is likely to fail because it is ignoring the technological environment. E. Tina's Tunes is likely to fail because it is ignoring the current political environment.
D
A power tool company wants to give its customers access to internal, non-public information about how best to use its product in creative ways. What should the company create to provide customers with this information? A. A company data mine B. A data warehouse C. A company website D. A company intranet E. A company extranet
E
Age, personality, buying style, and job position are ________ factors that can influence the business buying decision process. A. organizational B. interpersonal C. economic D. cultural E. individual
E
How do market demands relate to needs and wants? A. Needs, wants, and demands all describe the same state in the customer. B. Demands result in customers needing and wanting a particular product. C. Needs and wants outweigh demands in the customer's mind. D. Wants and demands are equivalent, and both satisfy needs at the same rate. E. Needs are satisfied by wants, and buying power converts wants into demand.
E
In a _________, the business-to-business buyer reorders something without modifications. A. modified rebuy B. buying decision C. new task D. system selling E. straight rebuy
E
Chicago's Best Pizzeria has been operating on the north side of Chicago for over 30 years. Its target market includes young, urban professionals who want new style, organic pizzas with exotic ingredients. However, in recent years, the population in the pizzeria's neighborhood has been shifting and fewer young, urban professionals live there. The population has grown older and wants traditional pizza, not pizza with exotic ingredients. Which of the following identifies the pizzeria's BEST response to this situation? A. Be proactive and convince customers that "exotic is better." B. Target a new market with a different product. C. Run an ad campaign on the health benefits of pizza. D. Cut the prices on its pizza. E. Sell a different food product, such as hamburgers or sushi.
B
Craig's Craft Beer structures its company in such a way to encourage its most profitable older customers to remain loyal while also targeting a new generation of customers. What is Craig's Craft Beer attempting to build? A. Share of customer B. Customer equity C. Customer lifetime value D. Partner relationships E. Customer loyalty
B
In lecture, Generational Marketing was discussed. It was pointed out that paying attention to this facet of the Market Environment _________________________________. A. should really be considered as part of the Cultural Force. B. should be cautiously pursued. C. is the most impactful Demographic force feature. D. is a great way to predict consumption behavior.
B
Overall, how has the American population changed over time? A. It has become more likely to develop brand loyalty. B. It has become more diverse, better educated, and more mobile. C. It has become closer knit and more family-oriented. D. It has become more skeptical about marketing schemes. E. It has become wealthier, more cultured, and more frivolous in its spending habits.
B
June and Beatrice have started a new company, Junbee Inc., and are having trouble deciding which marketing path to take to drive sales. June believes they should follow a make-and-sell philosophy that focuses on improving their product, whereas Beatrice believes they should be more customer-oriented and find the right products for their customers. Which of the following BEST describes this situation? A. Should Junbee Inc. follow a production or selling concept? B. Should Junbee Inc. follow a societal marketing or production concept? C. Should Junbee Inc. follow a product or selling concept? D. Should Junbee Inc. follow a marketing concept or a societal marketing concept? E. Should Junbee Inc. follow a product or marketing concept?
E
The role of a company's marketing intermediaries is to do which of the following? A. Purchase the company's product B. Manage the company's human resources efforts C. Provide the resources needed by the company to produce goods and services D. Determine which products a company should market E. Help the company find, promote, sell, and distribute products
E
The demographic, economic, natural, technological, political, and cultural forces that affect a company's ability to serve its customers make up which of the following? A. Technological environment B. Cultural environment C. Microenvironment D. Marketing environment E. Macroenvironment
E
This adopter group is skeptical and only adopts new products after a majority of people has tried it. A. Early adopters. B. Lagging adopters. C. Early mainstream. D. Innovators. E. Late mainstream.
E
To develop needed information, marketing information systems utilize _________. A. internal databases, marketing research, and marketing managers B. internal databases, big data, and market research C. marketing managers, information users, and internal databases D. marketing intelligence, marketing research, and the marketing environment E. internal databases, marketing intelligence, and marketing research
E
To exercise their social responsibility, many companies are linking themselves to what type of marketing? A. Intermediaries B. Generational C. Technological D. Environmental E. Cause-related
E
What is the purpose of the marketing mix as part of the overall marketing strategy? A. To maximize the company's profits through successful marketing and sales of a particular product B. To create an overall positive image in the customer's mind that is favorably associated with the company C. To streamline a company's research, marketing, production, and sales of a particular product D. To compare some or all of the company's products with the products of the company's competitors E. To elicit a response that influences a demand for the product from the customers the company is targeting
E
Which of the following describes the current trend in businesses regarding relationships with customers? A. Maintain strong relationships with as many customers as possible. B. Avoid developing relationships with customers at all. C. Gather as many customers as possible on a surface level. D. Find a few customers and develop strong relationships with them. E. Build the right relationships with the right customers.
E
Which of the following statements regarding the business market is correct? A. The business market has more buyers than the consumer market. B. In the business market buying process, buyers and sellers are less dependent on each other than in the consumer market. C. The business market is not as large as the consumer market in terms of dollars spent and items purchased. D. Business buying decisions are less complex than consumer buying decisions. E. Many sets of business purchases are made for one set of consumer purchases.
E
Why is good marketing management critical? A. To ensure that products are promoted well enough to encourage a large flow of customers B. To ensure that the company is always on the cutting edge of product development C. To ensure that investments are properly spent in order to maximize profits D. To ensure that the company has a positive image in the eyes of the community E. To ensure that the company serves as many customers as it can and as well as it can
E
Why is it important for a company to collect both primary and secondary data when conducting marketing research? A. To avoid complaints that the study is not reliable B. To ensure the data is usable C. To keep costs down D. To guarantee the product being researched will be successful E. To have a "full picture" of the subject of its study
E
_________ refers to the degree to which innovation appears superior to existing products. A. Complexity B. Compatibility C. Communicability D. Divisibility E. Relative advantage
E
Bob's Bicycle Sales and Repair is a brand new company. From a marketing standpoint, what is the FIRST thing Bob's Bicycle Sales and Repair needs to do? A. Develop relationships with the customers who come to purchase bicycles or repair services. B. Develop the best bicycle selection to sell. C. Develop a plan to sell as many bicycles as possible. D. Advertise the company as a location in which to purchase bicycles or repair services. E. Determine who in the community wants or needs a bicycle or repair service.
E
______________ is the first stage in the new product adoption process. A. Interest B. Trial C. Adoption D. Evaluation E. Awareness
E
According to lecture, a dichotomous question format is always the best choice to use for a closed-ended question in Marketing Research. True False
False
A colleague needs to collect descriptive data about his customer's attitudes. He has not done this type of research before. What research approach would you recommend to best suit this research project? A. Secondary data B. An experiment C. A survey D. An ethnographic study E. Observation
C
According to lecture, the ideal number of participants for a focus group is? A. 5 B. 18 C. 8 D. None of the above
C
According to lecture, which of the following federal regulatory agency regulates the majority of Marketing practices? A. Consumer Product Safety Commission B. Attorney General C. Federal Trade Commission D. Small Business Administration
C
As more and more businesses hire outside firms and consultants to handle Market Research, the issue of __________ is a concern, even for non-tech firms. A. cost B. consistency C. confidentiality D. privacy
C
Betty has just realized that she forgot to buy butter as she tries to make Chocolate Chip Cookies. In terms of Problem Recognition, Betty has just defined her _______________________. A. Problem State B. Determinant State C. Actual State D. Desired State
C
Even though EZ Dry Cleaners has a customer 5 star rating, many customers that would like to utilize their dry cleaning services cannot do so because they are only open from 9-5 pm, Monday-Friday. A large group of consumers that have occupations that require them long hours cannot utilize EZ's very limited store hours. For EZ, they do not target the consumers mentioned above because this group does not possess ___________________ when evaluating market segments. A. need/want B. willingness C. ability D. authority
C
Luke is headed to buy an engagement ring for his future bride. He plans to purchase a ring that is between $6-7,000 and is at least a one carrot diamond, yellow gold. He walks out of the jewelry store having spent $6,500 and the ring is a 3/4 carrot diamond, white gold. For Luke the determinant attribute(s) were: A. Carrot size and gold color B. Carrot size C. Money Spent D. Money Spent, carrot size and gold color
C
The ultimate goal of the marketing process is to do which of the following? A. Evaluate customer needs B. Determine a target market C. Capture value from customers through exchange D. Create a quality product E. Develop relationships with customers
C
When is the selling concept typically used by marketers? A. When the company focuses on customer needs B. When the product is of high quality C. For the purchase of unsought goods D. When the company seeks the long-term welfare of society E. For seasonal items
C
Which kind of company would most benefit from conducting marketing research? A. Only large multinationals like Disney and IBM need market research. B. Only small locals like Beatrice's Bistro need market research. C. Both large multinationals like Disney and IBM and small locals truly need market research. D. Only medium-sized companies that are about half the size of Disney and IBM need market research. E. Neither large multinationals like Disney and IBM nor small locals truly need market research.
C
Which of the following BEST describes the purpose of the customer insights team? A. To represent the company to its customers B. To instruct other company departments in customer service C. To create more value for customers D. To advertise new products to customer bases E. To develop new markets of customers for the company
C
Which of the following lists the five steps of the buyer decision process in the correct order? A. Need recognition, information search, purchase decision, evaluation of alternatives, and postpurchase behavior. B. Purchase decision, need recognition, information search, evaluation of alternatives, and postpurchase behavior. C. Need recognition, information search, evaluation of alternatives, purchase decision, and postpurchase behavior. D. Need recognition, purchase decision, information search, evaluation of alternatives, and postpurchase behavior. E. Need recognition, evaluation of alternatives, information search, purchase decision, and postpurchase behavior.
C
Wilden is knee-deep in the Fall semester of studies and socializing. He cannot stay awake during this late night of studying so he heads down to the vending for a pick-me-up. He would love a Five Hour Energy shot but is disappointed to see it's not available in the machine. He chooses another drink with caffine to try to stay awake. For the brand Five Hour Energy, the sale was lost because their Intensity of Distribution is NOT __________________. A. Exclusive B. Selective C. Intensive D. Extensive
C
In lecture, there was discussion regarding various responses to Marketing Environment Forces. When a brand has depth of resources to draw from (financial & expertise) they are most likely to take which of the following responses to managing the Market Environment? A. Static B. Reactive C. Proactive D. Aggressive
C
Ralph Lauren is a clothing brand that places their brand in high-end retail stores. There are now considering offering select styles that are of less quality to be placed in discount stores. The goal is to gain customers from diverse incomes and build their brand name among a different target consumer. This type of activity demonstrates the brands move to engage in A. Value Marketing B. Diverse Marketing C. Economy Marketing D. Recession Marketing
A
The group of economic factors that affect consumers' purchasing power and spending patterns is called ________. A. the economic environment B. the value market C. macroenvironment D. demographic information E. income distribution
A
The major cultural values of a society are expressed by _________. A. people's views of themselves and others, as well as their views of organizations, society, nature, and the universe B. people's views of the universe C. people's views of society D. people's views of organizations E. people's views of themselves
A
The purpose of business legislation is primarily based on ________. A. protection B. education C. guidance D. punishment E. rehabilitation
A
To create value for customers, marketers must improve the performance of the ______, which includes partnering with suppliers, distributors, and customers. A. value delivery network B. strategic plan C. marketing system D. competitive delivery network E. internal value chain
A
What determines if a buyer is satisfied or dissatisfied with a purchase? A. The relationship between the consumer's expectations and the product's perceived performance B. How others feel about the purchase C. The amount of information gathered in the decision process D. Whether or not the buyer experiences cognitive dissonance E. The number of alternatives considered in the purchase decision
A
What is a business portfolio? A. The collection of businesses and products that make up a company B. The record of the responsibilities of the CEO and the CFO C. A projection of a future marketing direction for a company D. A collection of a group of companies within the same area of business E. A record of business investments
A
What is management's first step when performing a portfolio analysis? A. Identify strategic business units. B. Perform a SWOT analysis. C. Determine the company's target market. D. Outline the company's mission statement. E. Determine the company's goals.
A
Which of the following BEST describes a duty that would fall under the jurisdiction of the FDA? A. Checking the quality of food that is served in school lunches B. Protecting the legal status of a company C. Investigating customer complaints about a business D. Evaluating whether an advertisement to be aired in public is fitting E. Ensuring that pollution standards are met by a company
A
Which of the following is NOT one of the four Ps of the marketing mix? A. Profit B. Place C. Promotion D. Product E. Price
A
Lydia's Lights wants to extend its market into Mexico. Before jumping in, the company needs to conduct some in-depth research to gauge customer's needs, interests, and buying patterns by having some of the researchers live and participate in the Mexican culture directly. Which of the following is the BEST option for Lydia's Lights? A. Utilize Ethnographic methods B. Deliver surveys to the target consumers through the mail. C. Gather only secondary data to minimize expenses. D. Send out a survey by mass e-mail to the target consumers. E. Set up a call center to be the base for researchers to telephone the target consumers.
A
_______ consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance. A. Marketing analytics B. CRM C. Touch points D. Big data E. Marketing information
A
A brand new hardware company is writing its mission statement. Which of the following is the BEST mission statement possible for the new company? A. We are providers of hardware, lumber-based, and appliance products to be used for home improvement and commercial construction projects. B. We will help customers build, invigorate, restore, refurbish, or completely redesign their homes or businesses. C. We will have two million dollars in profit by the end of our second fiscal year and twice that amount by the end of year five. D. We embrace the deeper meaning of the home and commercial improvements. E. We will be the best hardware company in the world. No other company will ever outsell us.
B
According to lecture, one of the most popular sources for Secondary information in Marketing is? A. The American Marketing Association Handbook B. The US Census C. The Federal Tax Code D. The Federal Trade Commission Handbook
B
Based on the BCG matrix model covered in class, which of the following designations would most likely be a brand found in the decline stage of the Product Lifecycle stages? A. Turtle B. Dog C. Cash Cow D. Question Mark
B
How does the microenvironment of a company differ from its macroenvironment? A. The microenvironment uses more financial resources than the macroenvironment. B. The microenvironment deals with the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. C. The microenvironment deals with the big problem, whereas the macroenvironment deals with trivial problems. D. The microenvironment affects a larger portion of the company than the macroenvironment. E. The microenvironment is company-based, whereas the macroenvironment is customer-based.
B
In which type of buying situation will a buyer usually go through all the stages of the business buying process? A. A modified rebuy B. A new task buying situation C. A straight rebuy D. The purchase of raw materials E. The purchase of a business service
B
In lecture, Mission Statements were discussed. If you were a Marketing Manager and the company you worked for was developing a new Mission Statement you should: A. avoid the meeting to be sure that Brand Positioning is not revealed until the Marketing Promotion campaigns are rolled out. B. attend the meeting and make sure the Marketing perspective is represented in the re-write of the Mission Statement. C. avoid the meeting as it makes sense to leave the development of a Mission Statement soley to Management experts. D. attend the meeting but do not share what the Marketing department is developing for the company's brands/product lines.
B
In lecture, we explored the Economic Macro Environment Force by defining Discretionary Income. Which of the following brand marketers would be most interested in the level of Discretionary income a household possesses? A. Tide Laundry Detergent B. Vineyard Vines C. Tropicana Orange Juice D. Suave Shampoo
B
Rosa's Restaurant is located in a neighborhood that is seeing a rise in popularity. Chain restaurants such as Jersey Mike's, Chipotle and Panda Express are now located in the same neighborhood as Rosa's. Even though Rosa's is a sit-down, full-service restaurant that is more expensive than the fast-food brands coming in Rosa's owners are worried. Which of the following forces is Rosa's Restaurant concerned with? A. Economic B. Competitors C. Publics D. Cultural
B
The quote discussed in lecture from a former GM (General Motors) CEO, "rather than make what we have always made and sell it, let's try to find out what will sell and then ry to make it" is an example of which of the following Marketing Orientations? A. Outsourcing B. Marketing C. Target D. Selling
B
Trader Joe's is a grocery retail brand that is constantly researching consumer needs, location demographics and cultural shifts that create opportunity for new products to be added to their food offerings. By conducting constant research in these areas it can be said that the brand A. influences the Market Environment B. does a good job conducting Environmental Scanning C. does a poor job conducting Environmental Analysis D. influences the Market Mix
B
Which of the following statements about online research is correct? A. Online research is only feasible for large companies. B. Focus groups are rarely conducted online. C. Experiments cannot be conducted online. D. Online surveys generally have higher response rates than those conducted by mail or phone. E. It is more expensive to conduct online research than to do a mail, phone, or personal interview.
D
Trisha is an avid collector of stamps. Trisha's collection is worth a lot of money and represents a good deal of time spent searching through stamp fairs and online outlets. One stamp that has elluded her dates back to the Civil War. After many years of online searching, Trisha has found the rare stamp and has been in contact with the seller but he would like a very high price for the stamp. For Trisha, the Information Search Stage of the Consumer Decision Process can be characterized as predominately ___________________ and the risk for Trisha's purchase of the rare stamp is ____________________. A. Internal, Financial B. External, Financial C. Unsought, Functional D. Extensive, Functional
B
What are stars in the growth share matrix? A. Low-share, high-growth businesses or products B. High-growth, high-share businesses or products C. Low-growth, low-share businesses and products D. The growth star matrix does not contain stars. E. Low-growth, high-share businesses or products
B
When consumers respond in a similar way to a given set of marketing efforts, they can be referred to as a(n) _________. A. market B. market segment C. target market D. value chain E. differentiation
B
Which of the five characteristics identified in the text has an inverse relationship with an innovation's rate of adoption? As this characteristic increases, the rate of adoption is slower. A. Compatibility B. Complexity C. Divisibility D. Relative advantage E. Communicability
B
A researcher must always evaluate secondary information carefully; however, the researcher does not need to ensure the evaluation is _________. A. subjective B. accurate C. impartial D. current E. relevant
A
According to lecture the heart (center) of it's Societal Concept is/should be: A. a company's mission statement. B. a company's relationship with community. C. a company's work force. D. a company's Marketing Department.
A
According to lecture when choosing target markets and building profitable relationships, Marketing Management is _______________________________________________ A. part art and part science. B. tied to sales potential. C. requires a person with a Marketing Degree to perform. D. tied to profits potential.
A
According to the text, which of the following Microenvironment forces is considered the most important actor? A. Customers B. Demographic C. Competitors D. Supplier
A
According to lecture, a product/brand that is purchased 2-3 times in a 12 month to 5 year period where the consumer conducts product Information Search in both external and internal ways is probably considered which type of product? A. Shopping B. Convenience C. Specialty D. Commodity
A
According to lecture, which of the following Marketing Orientations was tied closely with Henry Ford and the Industrial Revolution? A. Production Concept B. Outsourcing C. Zero-defect Concept D. Selling Concept
A
According to lecture, which stage of the Consumer Decision Process can be defined in terms of both Psychological and Physical dimensions. A. Postpurchase B. Information Search C. Prepurchase D. Evaluation of Alternatives
A
Any contact between a customer and a company is called a(n) _________. A. touch point B. purchase C. satisfaction survey D. sales call E. service call
A
Ben developed a product to help senior citizens and has just made a lot of money. Feeling accomplished, Ben has decided to reap the benefits of the product profits for a while and take some time off from further development and innovation of such product. In terms of Marketing, Ben is focusing on short-term goals and his actions can be best defined as: A. Marketing Myopia B. The Marketing Process C. Marketing Management D. Target Marketing
A
Denim Blue Jean Corporation is a growing company located in Washington State, but it is beginning to develop a presence in the surrounding states as well. It sells only one productlong dashblue jeanslong dashbut it has 12 different lines of jeans that cater to men, women, children, babies, toddlers, and teens. Which marketing organization would BEST suit Denim Blue Jean Corporation? A. Market or customer organization B. Product management organization C. Geographic organization D. Functional organization E. Combination organization
A
For many years Kodak film for cameras owned 80% of the market share in that product category. As the product category aged, the market growth was low. Based on the BCG matrix designations covered in class, the designation for Kodak film from this snap-shot would be? A. Cash Cow B. Pet C. Dog D. Star
A
How do company objectives and goals relate to the company mission statement? A. The goals and objectives outline the steps necessary to accomplish the company's mission statement. B. The goals and objectives are a restatement of the mission statement in more understandable terms. C. The mission statement and the company goals are two different pieces used to explain the business of the company to its shareholders. D. The mission statement defines what the company does, and the goals and objectives outline why the company does it. E. The mission statement is developed based upon the company's goals and objectives.
A
In lecture the U.S. Census was discussed as being the most impactful for which of the following Marketing Environment A. Demographic B. Economic C. Cultural D. Competitor
A
In lecture, the Fisher Price Toy Laboratory was discussed. What type of Marketing Research is Fisher Price conducting? A. Causal Research B. Product Research C. Descriptive Research D. Exploratory Research
A
Many companies build extensive electronic collections of consumer and market information obtained from data sources within the company's network. This is known as ___________. A. an internal database B. online marketing research C. an intranet D. marketing research E. marketing intelligence
A
Mark and Roberta own and manage a brand where the product they invented created a new product category. Now that their brand has been in the marketplace for a while competitors have entered. Each time a new competitor enters the market, Mark and Roberta buy a sample off the shelf and then take it a part in their lab to ensure they are one step a head of the competition. In terms of Marketers obtaining information, this is an example of developing A. Marketing Intelligence B. Marketing Research C. Ethnography D. Descriptive Research
A
Martin and Ruby are doctors who have conducted research for a well-known University about the effects of eating a whole-grain diet on patients with diabetes. The doctors have been approached about using their research to support claims for a well-known, whole grain brand of cereal. Martin and Ruby are concerned that their research was not intended to support claims for a branded food product. Which of the following concepts from chapter 4 reading is at play? A. misuse of research findings B. privacy issues C. ethics of research design D. none of the above
A
When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________. A. pushing one-way commercials at customers B. identifying and targeting late adopters C. developing print and radio advertisements D. generating person-to-person brand conversations E. withdrawing from online social networks
D
A purse company's ads feature the members of a popular housewives reality show. Product sales increase significantly among the fans. From the fans' viewpoint, the housewives reality show is a(n) _____. A. reference group B. lagging adopter C. late-majority adopter D. membership group E. family group
A
A blizzard is bearing down on the Metro DC area. Local hardware stores have ordered and received extra stock of shovels, water, generators, ice melt and other products that customers will need to deal with the effects of the storm. This is an example of a ______________________force in the Macro Environment. A. Economic B. Weather C. Cultural D. Natural
D
A wedding services company changes its marketing strategy to reflect the fact that more LGBT (lesbian/gay/bisexual/transgender) marriages are taking place. The company is offering a broader range of ceremonies that cater to this market. Which of the following environments must this wedding company analyze? A. Natural B. Political C. Economic D. Cultural E. Technological
D
All the people involved in the buying decision in an organization are collectively known as _______. A. the buying nucleus B. the purchasing team C. buying agents D. the buying center E. buying actors
D
Amy is a Marketing Researcher who is viewing store video and timing the amount of seconds that consumers spend in front of different product category shelved brands. Which of the following types of research discussed in lecture does this exemplify? A. Ethnographic Research B. Product Research C. Causal Research D. Observational Research
D
As discussed in lecture and seen by the many slide examples, a Strategic Business Unit (SBU) can be A. a single brand B. a product line C. a division D. all the above are true
D
How do the individual components of a SWOT analysis work together to determine the status of a company? A. By developing a course of action that best determines a core market, the proper product to give the core market, and how to do so at an affordable price B. By streamlining a company's core processes so that all of the company's operations flow smoothly and contribute to the development and sale of its products C. By creating a niche in a market that can be exploited by a company to gain the greatest profits D. By ascertaining a company's strengths, relating them to opportunities, minimizing weaknesses, and identifying threats to growth and development E. By developing a marketing strategy that promotes a company's highest-selling products in such a way that there is a measurable return on the company's investment
D
In lecture, we discussed the Business Cycle as being a key indicator that Marketers should consider when monitoring which of the following forces? A. Competitive Force B. Technological Force C. Public Force D. Economic Force
D
Jose is a VP of Marketing who has reached out to the VP of Consumer Affairs to work on tracking feedback of a new product roll-out. Jose is paying close attention to which Microenvironment force? A. Customers B. Marketing Intermediaries C. Competitors D. The Company
D
Nate is searching for a product that requires external product Information Search (solely). The product also requires high involvement. Which of the following Problem Solving Methods is Nate mostly likely engaged in? A. Intensive B. Rountinzed C. Limited D. Extended
D
The role of a company's marketing information system (MIS) is important because ______________. A. it allows a company to outperform its competitors in the marketplace B. it maintains the company's internal database of customers C. it increases the likelihood that a customer will buy a product D. it enables a company to use customer insights to improve relationships with customers E. it ensures that the company will have good customer service
D
Tracking consumer movements across online sites has given Marketers insight into ____________________. The idea behind this concept is that movement on social networking sites is parallel to how people shop. In other words, we shop much like our friends and respond to ads from brands friends use. A. engaged social ad space B. social network targeting C. online focus groups D. behavioral targeting
D
Which of the following needs in Maslow's hierarchy is generally satisfied first? A. Safety needs B. Social needs C. Self-actualization needs D. Physiological needs E. Esteem needs
D
