Marketing Final Quiz Questions
_____ segmentation refers to segmenting markets by region of a country or the world, market size, market density, or climate.
Geographic
_____ is the condition that exists when one party has confidence in an exchange partner's reliability and integrity.
trust
Candy's Chocolates Inc. is a confectionary company that manufactures only one product. Unlike its competitors, the firm does not have its target customer base as children. Instead, it promotes its product using the same strategy across consumers of all age groups. Given this information, Candy's Chocolates Inc. has adopted a(n) _____ strategy.
undifferentiated targeting
Compared to convenience products, shopping products are:
usually more expensive and are found in fewer stores.
Astute marketers practice partner relationship management and must work closely with partners in other company departments to form an effective internal value chain that serves customers. Additionally, they must partner effectively with other companies in the marketing system to form a competitively superior _____________________.
value delivery network This is the correct answer.
_____ labeling is designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase.
Informational
_____ is a process whereby a consumer notices certain stimuli and ignores others.
Selective exposure
Zing is a soft drink which is available everywhere, including gas stations, department stores, and vending machines. Zing is an example of a(n) _____.
convenience product
Lina and her friends decide to watch a movie at Lina's house. They watch the movie online on MovieStop.com. This business model is an example of _____.
electronic distribution
Members of a family who suggest or plant the seed for the purchase process are called _____.
initiators
When a firm develops structural bonds with its customers by offering unique value added services, it is operating at _____ of relationship marketing.
level 3
Marketing managers often use in-store promotions to stimulate the sales of products for which consumers may not recognize their wants until they are in a store. Such products can be categorized as _____ products.
low-involvement
Sheera Jewelry sends birthday greeting cards to each of its customers as a token of appreciation for shopping at its store. This exemplifies the customer relationship management (CRM) trend of _____.
loyalty
The customer relationship management (CRM) technique that focuses on thanking customers for their business to a company exemplifies the trend of _____.
loyalty
_____ are typically categorized by a sudden and unpredictable spike in sales followed by a rather abrupt decline.
Fad items
Which of the following is a location-based social networking site?
FourSquare
Elsem Foods is a manufacturer of food and beverages. It manufactures several varieties of foods like potato chips, cupcakes, candies, crackers, fruit juices, and carbonated drinks. It introduced a new line of baked potato chips in different flavors. It receives its largest profit from its newly introduced line of hundred percent fruit juices that are available in different flavors, such as orange, apple, litchi, cranberry, and so on. Which of the following is a product item of Elsem Foods?
Hundred percent orange juice
Although strategic planning models like the Boston Consulting Group share-growth matrix are valuable tools for managers, they have limitations. Which of the following is an advantage of using the Boston Consulting Group share-growth matrix?
Identifying which SBUs require more resources and which generate revenue to fund other SBUs
Which of the following is a primary function of materials management?
It encompasses the sourcing and procurement operations, signaling when raw materials will need to be replenished for the production of more goods.
Which of the following is true of an express warranty?
It ranges from simple statements to extensive documents written in technical language.
According to the gap model of service quality, which of the following is true of gap 1?
It results from a lack of understanding or a misrepresentation of customers' needs, wants, or desires.
Which of the following is true of mass customization?
It results in giving each customer whatever he or she asks for.
Which of the following is an advantage of simultaneous product development?
It shortens a product's development process.
Which of the following statements is true about the sustainability theory of social responsibility?
It states that focusing on the world's social and responsible problems will help corporations outperform their peers.
Which of the following scenarios illustrates business marketing?
Jenny, the manager of Ikon Inc., purchases a set of printers for her office.
Which of the following is a psychological factor that impacts consumer buying decisions?
Learning
Premium boutique hotels encourage employees to develop strong, personal relationships with guests. Such hotels offer value-added services that are not available at traditional hotels. At which level of relationship marketing are these hotels operating?
Level 3
Which of the following is true of an unsought product?
New products are categorized as unsought products until advertising and distribution increase consumer awareness of them.
Becky wants to buy a new cell phone. She asks her tech-savvy friends to recommend a good phone that is light in weight and easy to use. In this scenarioBecky is obtaining information using a(n) _______information source
Nonmarketing- controlled
Why do marketers who spend significant time promoting mass-marketing efforts need to be aware of customer relationship management (CRM)?
One-size-fits-all marketing is no longer relevant because consumers want to be treated as the individuals they are.
Which of the following is true of the development stage of a new-product development process?
It examines the feasibility of manufacturing a product at an acceptable cost.
Which of the following is true of globalization?
It expands economic freedom and increases the living standards of people.
Which of the following is true of conventional morality?
It involves an emphasis on the expectations of society. Next
Which of the following is true of a concentrated targeting strategy?
It is often adopted by small firms to compete effectively with much larger firms.
Which of the following is an example of postpurchase communication?
A hotel sends an email survey to its guests a week after their stay, asking them to comment on the quality of the service they received.
Which of the following statements is true about the naming strategies for products sold in the global market?
A one-brand-name strategy is useful when a company markets mainly one product.
Which of the following best describes a collector?
A person who uses RSS feeds to gather information and vote for Web sites online
Which of the following is a social factor that can influence consumer buying decisions?
A reference group
Daily Farm is a manufacturer of consumer goods such as foods, beverages, cleaning agents, and personal care products. It is expected to introduce more than ten new products in the next two years. One of the products is a spicier variant of its tomato ketchup aimed at the baby boomer market. Which of the following categories of new products will the spicier ketchup represent?
Addition to existing product line
Which of the following is a disadvantage associated with an undifferentiated targeting strategy?
It often results in product offerings that are unimaginative and sterile.
Households with older children generally spend more on food, entertainment, personal care products, and education. This most likely reflects the influence of which of the following on purchase decisions?
Age
_____, one of the components on which customers evaluate service quality, refers to the knowledge and courtesy of employees and their ability to convey trust.
Assurance
Which of the following is true of postconventional morality?
At this level, people are concerned about how they see and judge themselves over the long run.
A(n)_______is an organized pattern of knowledge that an individual holds as true about his or her world .
Belief
Which of the following is a similarity between export brokers and export agents?
Both allow manufacturers to retain title for products
Which of the following is a similarity between raw materials and component parts?
Both become part of the final product
_____ are expense items that do not become part of a final product.
Business services
A member of top management, the _____, is the champion of the customer's cause and heads up the company's entire marketing operation, representing marketing on the company's top management team.
CMO
Denthrill Inc., a company that manufactures toothpaste, conducts a survey to find out the most important factor that consumers look for while buying toothpaste. Through the survey, it is found that consumers are most particular about the flavor of the toothpaste. Taking this into consideration Denthritt introduces a variety of flavored toothpaste in the market. Which of the following has the company used to satisfy its target market ?
Consumer behavior
_____ is a type of co-branding that occurs when two brands receiving equal treatment borrow from each other's brand equity
Cooperative branding
TrustUs Insurance's tagline is "You're in safe hands with TrustUs," and Serenity Life Insurance uses a rock as its trade symbol because it wants to convey stability. What type of promotion strategy are these companies using?
Creating a strong organizational image
Which type of social media user posts comments, ratings, and reviews of products and services on blogs and forums?
Critics
The product preferences of Hispanics in the United States may be similar to the overall culture, but the community may have its own values and beliefs which may differ. This may result in considerable variation in how and where these people buy goods and services. Which of the following is most likely the reason for such variations?
Cultural differences
Who among the following is most likely to recognize actions as unethical?
David has noticed for the first time a colleague misrepresenting data in a report. Next
Which of the following opinions would a proponent of rule utilitarianism hold?
Decisions must benefit the most people but through the fairest and most just means available.
Wesley Electronics Inc. manufactures electronic gadgets such as cell phones, computers, and laptops. To let people know about the products offered, the marketing managers of Wesley Electronics Inc. spend a great deal of money on advertising. They employed various methods of advertising such as print, television, and online advertising. Given this information, Wesley Electronics Inc. is in which step of market segmentation?
Designing and implementing marketing mixes
By far, the largest social network for gaming is:
Marla, a 55-year-old woman, wants to stay in touch with her son, who is away at college. She also hopes to connect with some of her high school friends. Which of the following is Marla most likely to use for this purpose?
_____ is when a product or company attempts to give the impression of environmental friendliness whether or not it is environmentally friendly.
Greenwashing
Central Bark Doggie Day Care opened the first day care center for dogs. It currently has 31 locations, with a new Gainesville, Florida, location coming soon. The concept of day care center for dogs became so popular that other competitors begin to enter the market. With competing companies such as Camp Bow Wow and others entering the market, it can be said that the concept of day care center for dogs is moving into the _____ stage of a product life cycle.
Growth
Which of the following is a feature of a new-product strategy?
It provides general guidelines for generating, screening, and evaluating new-product ideas.
Which of the following is considered an advantage of decreasing a product's quality?
It allows manufacturers to appeal to target markets unable to afford the original product
Which of the following statements is true about code of ethics?
It can be an effective internal control of behavior.
Which of the following is true of business marketing?
It deals with products that are used to facilitate an organization's operations.
Which of the following statements about culture as an influence on consumer buying behavior is true?
It encompasses all the things that consumers do without conscious choice.
Which of the following is a personal characteristic that influences an individual's buying decisions?
Lifestyle
__________________ is(are) the measurement of the profits generated by investments in marketing activities.
Marketing return on investment (or marketing ROI)
_____ are business customers who consider numerous suppliers, solicit bids, and study all proposals carefully before selecting one.
Optimizers
Trina is a physical fitness trainer who tries to create fitness routines based on her understanding of the customers and their specific fitness goals. Which of the following service processes does this illustrate?
People processing
_____ is a means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers' minds.
Perceptual mapping
Kirksand Hotels is renowned for its service and individual treatment of its customers. All service staff and employees are encouraged to listen carefully to customers' wants and needs. For instance, if a traveler ordered soft pillows, wanted only martinis in his mini bar, and needed access to a fax machine, he would find all of these amenities in his room when he arrived. In this scenario, on which of the following trends has Kirksand Hotels based its customer relationship management (CRM)?
Personalization
_____ refers to the follow-up activities that a service firm might engage in after a customer transaction.
Postpurchase communication
Which of the following is a difference between private-sector organizations and nonprofit organizations?
Private-sector organizations prioritize market segments that are most likely to respond to particular offerings, while nonprofit organizations target those who are apathetic about receiving their services.
Corn refiners buy shelled corn and convert it into a variety of products, including high-fructose corn syrup. The refiners then sell these products to companies for use in foods and beverages. Based on this information, which sector of the business market is most likely represented by the corn refiners?
Producers
_____ have the longest product life cycles.
Product categories
Specialty Blades designs precision cutting devices for varied applications. A recent project involved the company working closely with a medical device company to develop a combination scalpel and stapler that makes precise cuts on the tissue and staples closely, which results in less traumatic procedures and quicker patient recoveries. This is an example of which of the eight critical processes performed by supply chain managers?
Product development and commercialization
_____ refers to the number of product lines an organization offers.
Product mix width
Volten Inc. is an online apparel store. It has separate sections for casual wear, office wear, and party wear. It also divides its products on the basis of price to suit people of various income levels. In this way, it caters to different sections of society. Which of the following bases has the company most likely used for positioning its products?
Product user
_____ risks occur when consumers feel that making the wrong decision might cause some concern or anxiety.
Psychological
Short message service (SMS) is different from multimedia messaging service (MMS) in that:
SMS does not allow the attachment of images, videos, and ringtones to text messages, while MMS allows.
_____ is the process of identifying and assessing what is being said about a company, individual, product, or brand.
Social media monitoring
_____ is any potential disruption that threatens a supply chain's efficient and effective operations.
Supply chain risk
Saraz, a leading brand of apparels, extends its presence to several parts of the United States. Upon research, the marketing managers identify that people belonging to music-based groups have subtle differences in their preferences when compared to the overall culture. The company adds variety to its product line to attract these diverse groups. In this case, the music-based group can be referred as a _____.
Subculture
Which of the following opinions would a proponent of act utilitarianism hold about decision making in ethical dilemmas?
The alternative that benefits the most people should be chosen even if it means breaking laws. Next
Why do most firms consider test marketing essential for new products?
The high price of failure simply prohibits the widespread introduction of new products without testing.
There are two steps to business portfolio planning. First, the company analyzes its current business portfolio and determines which businesses should receive more, less, or no investment. Which of the following is the second step?
The organization must shape the future portfolio by developing strategies for growth and downsizing.
Which of the following is most likely an example of routine response behavior?
The purchase of groceries
Which of the following is true of brands, organizations, and nonprofits that use Facebook?
Their pages are public and are thus subject to search engine indexing.
In the context of individual influences on consumer buying decisions, which of the following is a similarity between personality and gender?
They are personal characteristics that are unique to each individual
Which of the following is true of supplementary services?
They are usually emphasized to create a competitive advantage.
Which of the following is true of laggards?
They have the longest adoption time and the lowest socioeconomic status.
Joint ventures are successful, however they can be risky. This is because joint ventures
consist of partners who sometimes cannot agree on management policies.
Which of the following statements is true about morals?
They may reflect the laws and regulations that affect social and economic behavior. Next
In the context of consumer markets, which of the following is true of consumers?
They normally buy products rather than lease them.
Which of the following is true of raw materials?
They often have a large number of relatively small sellers.
After determining the market-oriented mission, what is the next step in the process of strategic planning?
Turning the mission into detailed supporting objectives that guide the entire company
_____ reflects inventory that is being assembled or manufactured from its raw state into finished goods for sales.
Work-in-process inventory
A popular production house wants to release a teaser of one of its upcoming movies to create a buzz among the public. Which of the following is the best platform that can be used by the studio?
YouTube
A company is said to be a direct foreign investor in another country if it: acquires an active ownership of marketing facilities in that country
acquires an active ownership of marketing facilities in that country
Unlike buyers in business markets, buyers in consumer markets tend to:
approach purchasing more informally.
The process where all the involved areas-R&D, marketing, engineering, production, and even suppliers-work together rather than sequentially during a product's development is called _____.
assess how well various aspects of the marketing mix fit together.
Steve wanted to open a day care service facility for dogs. He estimated the costs involved in providing the services desired by dog owners. After extensive deliberation, Steve decided not to proceed with the plan as the cost of providing the services was too high compared to the rates dog owners would be willing to pay. Which of the following stages of the new-product development process has Steve used to arrive at this decision?
business analysis
When Prisly Inc. introduced a liquid detergent in the market, it noticed that the sales of its detergent powder significantly declined. Prisly Inc.'s loyal customers who previously purchased detergent powder switched to liquid detergent. As a result, Prisly Inc. was forced to reduce production of its detergent powder. This scenario exemplifies _____.
cannibalization
In the context of the several criteria based on which supply chain managers choose an appropriate mode of transportation, _____ is the ability of a carrier to provide the appropriate equipment and conditions for moving specific kinds of goods, such as those that must be transported in a controlled environment.
capability
The growth-share matrix defines four types of SBUs. The low-growth, high-share business or products, classified as _________, typically need less investment to hold their market share. Generally, they produce a lot of the cash that the company uses to pay its bills and support other SBUs that need investment.
cash cows
Jeni's Splendid Ice Creams has decided to put its new Beet Cake with Black Walnut ice cream on the market. This product has entered the _____ stage of new-product development process.
commercialization
In the context of the product characteristics that can be used to predict and explain the rate of acceptance and diffusion, _____ represents the degree of difficulty involved in understanding and using a new product.
complexity
Tennot Designs Inc. manufactures and sells clothes and shoes to people who are over 6'6" tall - a rather small target market. Given this information, Tennot Designs Inc. uses a(n) _____ targeting strategy.
concentrated
The stakeholder theory of corporate social responsibility:
considers the management of an organization as one of the stakeholders.
Rachel, a university student, purchases a watch as a gift for her mother. In this scenario, the watch is an example of a(n) _____ product.
consumer
A bundled price is preferable when:
consumers dislike having to pay extra for every part of a service.
Amy spends very little time to shop for bath soaps and beauty creams as she uses only the products offered by Eve's Aura, a manufacturer of bath and beauty products. As Eve's has a wide distribution network, its products are available in almost every retail outlet in Amy's locality. In this scenario, the bath and beauty products from Eve's Aura are examples of _____ products.
convenience
Delta Inc. is a large organization that believes in serving the community it operates in. The organization conducts several campaigns about health awareness and also provides donations to nonprofit organizations working on such causes. Delta is illustrating _____.
corporate social responsibility
_____ is a business's concern for the long-range welfare of both the company and its relationships to the society within which it operates.
corporate social responsibility
_____ is a fast-growing way to conduct global business in which all or part of the payment for goods or services is in the form of other goods and services.
counter trade
Observations of ethical misconduct are more likely to decrease when:
coworkers have a strong ethical culture
Monette has posted over 100 book reviews on Amazon.com. She also frequently reviews products and services on Epinions and posts her reviews of local restaurants on Yelp. As a social media user, Monette would best be characterized as a _____.
critic
If a firm such as McDonald's wanted to expand its business by adding locations, redesigning menus, and adding services, it would be realizing growth through ____________.
penetration
Felosky Inc., an animal-welfare organization that specializes in cats-care, uses its Facebook page to find cat veterinarians, cat-food providers, and care takers, who could collaborate with the team to work on a project. The process used by Felosky Inc. is known as _____.
crowdsourcing
In a buying center, the person who has the formal or informal power to choose or approve the selection of a supplier or brand is known as the _____.
decider
Nutritreat Industries Corp. is a manufacturer of food products. The company introduced chocolate cookies to the local market. After a period of initial success, the product lost its market and Nutritreat decided to withdraw chocolate cookies from the market. This scenario is an example of the _____ stage of a product life cycle.
decline
In the context of the product life cycle, a long-run drop in a product's sales signals the beginning of the _____.
decline stage
Aztic Inc., a manufacturer of sports goods, plans to expand its operations to a new country. As part of this expansion, it determines whether the population of the country is primarily rural or urban. In this case, Aztic Inc. is assessing the _____ of the country.
demographic makeup
Hakimo Corp., a multinational corporation that specializes in audio equipment, has developed a wireless speaker that sits unobtrusively on a desktop. The tiny, yet strong, twin speakers use Bluetooth to stream music directly from a PC or MP3 player. This small wireless speaker, which is radically different from anything currently on the market, can most likely be classified as a:
discontinuous innovation
When deciding on distribution plans for specialty products, companies generally ensure that the items are:
distributed to only a few stores in a geographic area.
If a firm like McDonald's wanted to expand its business by acquiring a company such as Chevron gas stations, it would be realizing growth through ____________.
diversification
A company is most likely doomed to failure in a foreign country if it _____.
does not understand the countrys culture
_____ is the sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter.
dumping
A(n) _____ is a limit on the amount of a specific product that can enter a country.
quota
Future Market, a supermarket chain, uses bar codes for all its products. As soon as a product is sold, the information is electronically transferred to the firm's warehouse and the product's supplier. In addition, changes are automatically made to the firm's sales account and stock ledger. This helps the firm reduce its paperwork and makes managing inventory easier. This is an example of _____.
electronic data interchange (EDI)
In a build-to-order environment, the transportation network:
eliminates the expense of storing inventories.
The first action a marketing team should take when initiating a social media campaign is:
establish a listening platform.
A multi segment targeting strategy differs from a concentrated targeting strategy in that it:
faces a high potential cost from cannibalization of products.
Currency markets operate under a system in which the prices of different currencies move up or down based on the demand for and supply of each currency. This is the system of _____.
floating exchange rates
Green & Gold is a coffee chain based in the United States. Its management has been trying to refocus on the things that originally made the company successful. For example, Green & Gold stores across the United States recently shut down for a short period of time for retraining, and the company has worked to make sure that customers can smell the freshly ground coffee aroma when they pass by the store. However, when questioned, consumers tend to emphasize on the need for pricing incentives such as a frequent purchasing program. According to the _____, there may be a difference between what customers want and what Green & Gold management thinks customers want.
gap model of service quality
D'Costas, an authentic Mexican restaurant, has many restaurants all over the world. The taste and authenticity of the food served is the same irrespective of the restaurant one visits. Based on this information, D'Costas follows the strategy of _____.
global marketing standardization
With four categories of SBUs and products arrayed on the Boston Consulting Group share-growth matrix, the manager needs to determine how to manage each of them. If the firm decides to take short-term cash flow from the brand or SBU, despite long-term consequences, it is said to be in the ____________ mode.
harvest
Yuncen Foods, a company that manufactures frozen food, gets over half of its revenue from international sales. It has been consistently ranked the best frozen foods manufacturer in the world. It has catered its products to suit people in different countries according to their tastes and preferences. This shows that Yuncen Foods:
has a global vision that is paying off well
A difference between informational labeling and persuasive labeling is that informational labeling:
helps a consumer make proper product selections.
Crowdsourcing describes:
how the input of many people can be leveraged to make decisions that used to be based on the input of only a few people.
Managing the marketing process requires four marketing management functions: analysis, planning, ______________, and control.
implementation
When the marketing department works to improve customer satisfaction, it can cause other departments to decrease their job performance. When marketing tries to improve customer satisfaction, it may result in __________.
improved partner relationships, production schedules, and inventories
Daily Fresh is a multinational food and beverage company. One of the new products that Dairy Rich intends to introduce includes fiber added to chocolate. The packages will include data that each chocolate bar contains five grams of fiber and the various health benefits of including more fiber in one's diet. In this case, Daily Fresh intends to use _____.
informational labeling
Roger is always eager to own the latest cell phone model launched in the market. He makes it a point to buy new cell phones on the first day of their launch. He is also an active member of various online forums that discuss the latest technical developments. In this case, Roger is a(n) _____.
innovator
Capital goods such as large or expensive machines, mainframe computers, blast furnaces,generators, airplanes, and buildings are referred to as _____.
installations
The segment of the business market that seeks to achieve goals other than the standard business goals of profit, market share, and return on investment consists of _____.
institutions
A product is defined as a business product rather than a consumer product on the basis of its _____.
intended use
At Great Bear Nature Tours, the owners are careful to treat both guests and employees very well. In fact, most employees feel that they are treated like privileged guests at work. This is an example of:
internal marketing.
Which of the following is a disadvantage of cause-related marketing?
it can lead to customer fatigue
A decline in the availability of bicycle handle bars will decrease Huffy Bicycle Company's production of bicycles. This decreased production in turn will reduce Huffy's demand for bicycle seats. This scenario illustrates_____ demand.
joint demand.
In the context of global marketing, when a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity, it is known as a _____.
joint venture
In the context of the types of business products,consumable items that do not become part of a final product are known as _____.
supplies
Vimonland Theme Park sells the necessary rights to an investment company to run a Vimonland theme park in a foreign country. The investment company gains most of the profits from the enterprise while paying Vimonland Theme Park a percentage as royalties. This is an example of _____.
licensing
Products that appeal to mothers have evolved since mothers are no longer homogenous like before. Instead, there are traditional, blended, and nontraditional moms. This most likely reflects a change in their _____.
lifestyle
A difference between early majority and early adopters is that early majority are:
likely to collect more information and evaluate more brands.
The Boston Consulting Group growth-share matrix classifies SBUs the firm has in two dimensions; the first dimension is _______________, which measures market attractiveness for the entire industry on the vertical axis.
market growth rate
Brasco Motor Company produces a wide range of vehicles such as passenger cars, commercial trucks, specialty vehicles, performance vehicles, and race cars. Each type of car has a separate and distinct customer base. Given this information, Brasco Motor Company has divided its customer base by using the strategy of _____.
market segmentation
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. These divisions are known as _____.
market segments
Once a marketing plan is written, the manager has to convert the plan into actions that actually accomplish the strategic marketing objectives. The process of ______________________ addresses the who, where, when, and how of the marketing plan.
marketing implementation Your answer is correct.
Silver Line Electronics Inc. uses technology to produce laptops and other gadgets in bulk based on each individual client's specific needs and requirements. This is an example of _____.
mass customization
Soul Tech, a consumer electronics company, has suffered substantial losses while moving products from the assembly line to the warehouse and shipping docks. Soul Tech should consider reducing the number of times an item is moved in the warehouse by installing a(n):
materials-handling system
TwitPic, Flickr, and Photobucket are all examples of:
media sharing sites.
_____ is the largest Latin American trade agreement and includes Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, and Venezuela.
mercosur
Francis, a restaurant chain's social media manager, wants to conduct an online contest to promote his restaurant. He conducts the contest in a social networking site which allows people to post only 140-characters long updates. In this context, Francis has used -_____ to conduct the contest.
microblogs
A ____________________ is a statement of the organization's purpose —what it wants to accomplish in the larger environment.
mission statement
An effective materials-handling system:
moves inventory into, within, and out of a warehouse quickly with minimal handling.
Sinesia is a country that is famous for its vast deposits of cobalt, a material that is used to make high-speed and high-temperature cutting tools and dyes. A company that wants to manufacture tools for shaping steel would be most attracted to Sinesia's:
natural resources
A _____ is a situation requiring the purchase of a product for the first time.
new buy
Marketing services is more challenging than marketing goods because:
of the unique characteristics of services, which includes intangibility, inseparability, heterogeneity, and perishability.
A(n) _____ strategy is not possible when the brand name has a negative or vulgar connotation in the local language.
one-brand-name
SWOT analysis is an integral part of the first stage of the market process, which is analysis. The parts of the SWOT analysis that apply to external elements are___________ and __________.
opportunities; threats
Apart from long-term company profits, the major aim of customer relationship management (CRM) is to:
optimize customer satisfaction.
A manufacturer's or supplier's use of an independent third party to manage an entire function of the logistics system, such as transportation, warehousing, or order processing, is called:
outsourcing
Melrow Inc., a U.S. firm, suffers heavy losses and lays off many of its employees. As a measure to reduce its manufacturing costs, it shifts its production units to another country where inexpensive labor is available. In this scenario, Melrow Inc. is engaged in _____.
outsourcing
The primary reason large U.S. companies send U.S. jobs abroad is because labor costs are higher in the United States. Such companies are said to be engaging in _____.
outsourcing
David and Kathy like to take their young son, Chaz, to Moe's Southwestern Grill for lunch after church every Sunday. While they like to eat at Moe's at any time, Sunday is particularly good because it is "kids eat free" day at the restaurant. Until Moe's began this attractive offer, Sundays were very slow. Now it is one of the busiest days of the week for the restaurant. This strategy was a way to contend with the service characteristic of:
perishability.
Marketing managers have in their control four variables known as the four Ps. These four variables do not include the __________.
portfolio
Jordon, a sales manager, always advises his subordinates to build long-term relationships of trust with his customers. He also instructs them to refrain from making deals that might not be very suitable for the customers, even if it means not meeting sales targets. Which of the following levels of ethical development is illustrated in the scenario?
post conventional morality
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
Khokho's Coffee House is the first to introduce flavored coffee in the global market. It sells coffee in several different flavors, such as blueberry, cinnamon, and cranberry, based on the popular flavors in each country. Based on this information, Khokho's Coffee House uses _____ to market its products.
product invention
Designing a business portfolio involves finding businesses and products the company should consider in the future. Companies need growth if they are to compete more effectively, satisfy their stakeholders, and attract top talent. At the same time, a firm must be careful not to make growth itself an objective. The company's objective must be to manage __________.
profitable growth
The Foreign Corrupt Practices Act:
prohibits U.S. corporations from bribing public officials of foreign governments.
A number of yogurts are marketed under the Duncen brand, including Duncen All Natural, Duncen Fruit on the Bottom, Duncen Light & Fit, DunActive, and Dun-o-nino. The large variety of yogurts under the Duncen brand is an example of a:
promise index
A similarity between the customer relationship management process and supplier relationship management process is that both:
provide structural support for developing and maintaining relationships with their respective supply chain partners.
The growth-share matrix defines four types of SBUs. The high-growth, low-share businesses or products, which typically need heavy investments to finance their rapid growth, are called ______________.
question marks
Tom Sauce, a brand of tomato sauce, advertises that the tomatoes it uses are processed within 24 hours of being picked to ensure product freshness. In this scenario, the fresh tomatoes are examples of _____.
raw materials
The goal of most supply management activities is to:
reduce the costs of raw materials and supplies.
Social influences on consumer buying decisions are most likely to help in:
reducing a feeling of uncertainty among consumers.
The Boston Consulting Group growth-share matrix classifies SBUs the firm has in two dimensions. The horizontal dimension consists of the _______________, which measures the firm's strength in the market
relative market share
A mobile phone manufacturing company is said to functionally modify one of its products if it:
releases a software update to fix the mobile phone's heating problem.
A company's _____ includes all of the companies involved in all of the upstream and downstream flows of products, services, finances, and information, from initial suppliers to the ultimate consumer.
supply chain
Companies know that they cannot profitably serve all consumers in a given market, at least not all consumers in a uniform way. Most firms are in a situation to serve some portions of the market better than others, and they undertake four steps in order to make that effective. These steps are as follows (placed in sequential order): ____________________.
segmentation, market targeting, differentiation, and positioning
A few years ago Jenny Inc. introduced a small, lightweight snow removing machine in the market called the Snow Pup. Even though the product worked well, sales failed to meet expectations because consumers perceived the name to mean that the Snow Pup was a toy or too light to do any serious snow removal. In this scenario, which of the following explains the perception of consumers ?
selective distortion
In a concentrated targeting strategy, a firm:
selects one segment of a market for targeting its marketing efforts.
Business Essentials is a support group that consists mostly of young women who offer tips on budgeting and debt relief. Their goal is to help women break financial ceilings. Business Essentials is providing a(n) _____ that is helpful to women who want to be financially savvy.
service
Cashcrash.com is an online money transfer company that provides consumer remittance facilities. With the Cashcrash bank deposit service, consumers can send money directly to bank accounts in several countries around the world. Thus, Cashcrash.com would be classified as a:
service.
The organization needs to turn its mission statement into detailed supporting objectives for each level of management. The next step after setting the mission statement is to ____________________________.
set company objectives and goals
Lisa goes to an electronic goods store to purchase a washing machine. After comparing the various brands of washing machines available, their functions, prices, and so on, she purchases one that is cheaper and smaller than the rest. In this case, Lisa has purchased a(n) _____.
shopping product
code of ethics
should not be too detailed
The maker of Protect Your Hands hand sanitizer decided to test its consumers' reactions to one of its new products, Protect Your Hands Sanitizing Wipes. It sent out flyers advertising several of the company's products along with the new product to select customers of the target market. The flyer also asked the customers to shop in a mock store filled with real products, including the new product. In this case, the maker of Protect Your Hands has used -_____.
simulated market testing
The process where all the involved areas-R&D, marketing, engineering, production, and even suppliers-work together rather than sequentially during a product's development is called _____.
simultaneous product development
Kelly's Kitchen strives to improve its customer service and make sure its customers enjoy the food and ambience. It has a team dedicated to keep track of customers' opinion about Kelly's kitchen on popular food review sites and other Web sites. It tries its best to incorporate any changes suggested by its customers on such sites. This scenario illustrates _____.
social media monitoring
Bethany follows several blogs every day and uses YouTube frequently to watch latest videos. She does not have her own Web site, and she almost never posts any comments on the sites she visits. She just enjoys reading and watching the content on popular sites. Bethany would be best characterized as a _____.
spectator
Angela and Dominic own Slice Pizzeria. They keep track of the number of mentions their store receives on sites like Twitter and Facebook, but they are unsure of what steps to take next. Based on the eight stages of effective listening, Angela and Dominic are currently in the _____ of developing an effective listening system.
stage 2
The growth-share matrix defines four types of SBUs. High-growth, high-share businesses or products are called ______________.
stars
Leo buys 500 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 _____.
straight rebuy
Nutri Star Corp. is a large food manufacturing corporation which is more profitable that its competitors. The company uses only organically grown grains and fruits. Nutri Star also promotes organic farming and helps nonprofit agencies who focus food and nutrition causes. The company has now decided launch a campaign that aimed at promoting healthy eating habits among youth. Nutri Star is most likely to have adopted the concept of _____.
sustainability
In order to combat U.S. corporations' use of illegal payments and bribes in international business dealings, Congress enacted:
the foreign corrupt practices act
Sustainable supply chain management primarily involves:
the integration and balancing of environmental, social, and economic thinking into all phases of the supply chain management process.
Social bookmarking sites differ from social news sites in that:
the objective of their users is to collect, save, and share interesting and valuable links.
Marketers are most likely to recognize an action as unethical when:
there is a greater degree of agreement among managerial peers that the action is harmful.
Once marketing managers have determined a global product and promotion strategy, they can select the remainder of the marketing mix. However, entry into many developing nations presents special pricing problems because:
there is a lack of mass purchasing power
Social media measurements are meaningless if:
they lack context
DutiLog is a firm that specializes in providing warehousing, order processing, and transporting solutions to a diverse group of firms. Firms contract DutiLog to manage a part or most of their order fulfillment process. Thus, DutiLog is an example of a:
third-party logistics company
If Google wrote its mission statement, what would it be advised to write? The mission of Google is __________.
to give people a window into the world's information, wherever it might be found
Car Bar allows its customer to rent a car at $10 per day on weekdays, at $15 per day on weekends, and at $20 per day exclusively during the holiday season. This pricing strategy helps the company match the supply and demand for its cars. This is an example of _____.
operations-oriented pricing
Ramelson Inc. features photographs of celebrities wearing Ramelson clothes and shoes on its Web site. The company uses these celebrities to promote its products as it believes that celebrities can influence customers' buying decisions. These celebrities serve as _____.
opinion leaders
Serena wants to buy a pair of sunglasses. She decides to buy it from Seekart, an online retail store. Seekart uses an automated system to process its customers' purchases and sends the information to the manufacturer's warehouse, which directly ships the required products to the customers. This system employed by Seekart is called a(n) _____.
order processing system
Items such as sheet metal, treated lumber, corn syrup, and plastics are examples of _____.
processed materials
More companies today are partnering with other members of the supply chain. These partnerships include __________ and they improve the performance of the customer value delivery network.
suppliers, distributors, and customers
Grand Tree Doors does not make a door until an order is received. It promises product delivery within five working days because of the excellent relationship it has established with its suppliers. The partnering relationship that Grand Tree Doors shares with its suppliers and its ability to promptly serve its customers indicate that it has an efficient _____.
supply chain management
Brewdom, a leading multinational beverage corporation, has teamed up with Wealth from Waste to develop a plan to improve the reverse logistics of used beverage bottles for recycle and reuse. Together, Brewdom and Wealth from Waste have plans to deploy thousands of "Recycle Machines" in both permanent and temporary locations that will take empty bottles and provide rewards to consumers who participate. These companies are practicing _____.
sustainable supply chain management
Online Web sites that greet their users by name and offer information that users are interested in portray the customer relationship management (CRM) trend of _____.
technology
Through the use of computer-generated shipping notices, AllCare Hardware successfully removes unnecessary costs in its supply chain. According to its vice president of inventory for the retailer, "Information that had to be gathered through three or four phone calls before is now just one click away." This is an example of the use of _____.
technology and planning integration
Frieda was disappointed to notice that her new phone had several scratches on its screen. If she had known about the clear protective films that were available to protect the phone display from scratches, she could have avoided this problem. For Frieda, the protective films were _____.
unsought products
