Marketing Mid term

Which of the following is an example of consumer-generated marketing?

Fun & Run, a local amusement park, promotes its services by allowing consumer to upload videos and write reviews about the park

Which generational group is most likely less materialistic when compared with other groups?

Generation X

are small groups of consumers who interact directly and informally with product designers without a moderator

Immersion groups

ToyBox is a toy manufacturer based in the United Kingdom. Which of the following indicates that the company is following a market strategy?

It acquires toys rights for a popular cartoon character to boost its sales

Which of the following is most likely a true statement about diversity in the United States?

Various ethnic groups mix together but also retain their cultural differences

are the form human needs take as they are shaped by culture and individual personality

Wants

Which of the following companies is using a divesting strategy?

When sales of its clothing division decline, Blackstone sells the division to a competitor

Vertigo is an electronics company. According to the BCG matrix which of the following products of Vertigo would most likely classify as a question mark?

a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily

Which of the following is an example of a local public?

a community organization that addresses welfare issues in its neighborhood

Suppliers and resellers can update their accounts, arrange purchases, and check orders against inventories through

a company's extranet

The societal marketing concept holds that

a company's marketing decisions should focus on creating economic value in a way that also creates value for the surrounding environment

Which of the following changes most likely forced marketers to shift to value after The Great recession of 2008/2009?

a decrease in customer spending in all product categories

Which of the following is an example of cause-related marketing?

a firm selling electronics and giving a percentage of sales to charity

Which of the following is a part of the microenvironment of a company's marketing environment?

a just-in-time inventory system used by the company when making purchase decisions

Which of the following is a difference between the marketing concept and the selling concept?

a marketing concept focuses on customer needs, where as the selling concept focuses on existing products

Which of the following is an example of ethnographic research?

a research at Louis Inc visits customers homes to observe their daily routines

Market segments that can be effectively reached and served are said to be

accesible

when an effective program can be designed for attracting and serving a chosen segment, the segment is best described as

actionable

According to Sigmund Freuds Theory a person's buying decisions are

affected by subconscious, hidden motives

In which of the followings stages of the buyer decision process does a consumer compare multiple products with similar attributes?

alternative evaluation

Which of the following products would the electronics company Cypress Sound classify as a cash cow in its BCG matrix?

an MP3 player that has a high market share in a market that is not expected to grow significantly

In a SWOT analysis, which of the following would most likely be considered a strength of a company?

an improvement in the company's production technology

which of the following generally increases the total demand for business products?

an increase in consumer demand

Demographic variables are the most popular bases for segmenting customer groups because they

are easier to measure

which of the following best describes product positioning?

arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products int he minds of targeting consumers

business portfolio analysis is best defined as the process in which management

assesses the attractiveness of an SBU's market and the strength of its position in the market

The Initial function of a marketing information system is

assessing the information needs of a company

A_____ describes a person's relatively consistent evaluations, feelings, and tendencies toward an object or idea

attitude

Greater consumer control means that companies must rely more on marketing by

attraction

Members of which of the following generational groups were born between 1946 and 1964?

baby boomer

To which of the following generational groups do zooms belong?

baby boomer

Which generational group controls the highest percentage of disposable income in the United States?

baby boomer

Which of the following sources of product information can marketers control completely?

commercial sources

is the degree to which the results of using an innovation can be observed or described to others

communicability

is the degree to which an innovation fits the values and experiences of potential consumers

compatibility

Hammond Corp. operates in the highly aggressive electronics market. The firm aims to obtain early warnings of opportunities and threats caused by the actions of other firms that are doing well in the industry. Which of the following sources would best serve Hammond's purpose?

competitive marketing intelligence

When customers don't know what they want or don't even know what's possible, the most effective strategy is_______ marketing

customer-driving

According to the text,______ are the most important actors in a company's microenvironment

customers

In CRM,______is the technique that helps researchers sift through mounds of detailed customer information and dig out interesting findings about customers

data mining

Which of the following is a commercial source of product information?

dealer Web sites

A company's mission statement should likely be

defined in terms satisfying basic customer needs

Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a

demand

When backed by buying power, wants become

demands

Senz an automobile manufacturer produces low end vehicles that are targeted toward lower income groups. Senz most likely segments the consumer market based on_______ variables

demographic

Zista, a boutique that caters to the clothing needs of women, manufactures two different lines of fashion wear based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged women, and the other line targets younger professionals and homemakers. Zista most likely segments the consumer market based on ________ variables.

demographic

factors are the most popular bases for segmenting customer groups

demographic

is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics

demography

Which of the following groups is included in both a company's value chain and its value delivery network?

employees

the citizen-actions publics in a company's marketing environment include

environmental groups

A company that sells personal personal care products sends a trained observer to watch potential buyers in their natural environments. This is an example of _______ research

ethnographic

In which the following stages of the adoption process does a consumer consider whether trying a new product makes sense?

evaluation

A market researcher wants to find the cause-and-effect relationship between using organic ingredients in food and the subsequent consumption by customers. He invites ten respondents to his research firm and asks them to taste two identical dishes. The dishes were prepared in a similar manner, but one has natural herbs for flavoring, and the other has artificial flavors. This is an example of ________.

experimental research

Burger Town introduced a new hamburger and released it in two different cities at two different prices. Marketers of Burger Town then analyzed the sales records of their outlets at the two cities, determined the price that resulted in better profits, and used the information to set a nationwide price for their new offering. This is an example of ________.

experimental research

a firm uses a small convenience sample to gather data on customer reactions. It invites a small group of customer for lunch and asks them to share what they think about the products they have purchased from the firm. This is an example of

informal surveys

According to Maslow's hierarchy of needs, which one of the following is true?

lower level needs are fulfilled before higher level needs

The less for much less positioning involves meeting consumer requirements for

lower quality at a lower price

Demographic, economic, natural, technological, political, and cultural forces form the ______ of an organization

macroenvironment

Which of the following has the primary function of helping a company target and promote its products to the right markets

marketing services agencies

Which of the following is a quantitative approach to research?

marketing surveys

When a company interacts one-on-one with large numbers of customers to create customer unique value by designing products and services tailor made to individual needs, it is engaging in

mass customization

Marketing the same product to a huge customer base without any customization

mass marketing

When the size purchasing power, and profiles of a market segment can be determined, the market segment is said to be

measurable

Harmon, a nationwide department store, uses checkout scanners to record shoppers' purchases. Which term best describes Harmon's checkout scanners?

mechanical instrument

The practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as

micro marketing

a business buyer is considering a change in product specifications, terms, and possibly suppliers. This buying situation is referred to as an

modified rebuy

Which of the following is a geographic shift that has been observed in the US in recent times

more Americans moving to Micropolitan areas

Using a _______ positioning strategy companies can attack the more for more strategy of another firm by offering a brand of comparable quality at lower price

more for the same

Which of the following is a demographic trend observed in the United States?

more people are working remotely

Which of the following is most likely a consequence of the Great Recession of 2008-2009

more sensible and mindful consumption

A______ is a need that is sufficiently pressing to direct a person to seek satisfaction

motive

A marketing intermediary would most likely help a firm by

moving the firm's goods from production points to distribution center

Gold Class Electricals, a consumer-electronics firm. targets market segments based on factors such as country, age, social class, usage rate, and benefits sought. The company divides its markets based on

multiple segmentation bases

Which of the following is the first stage of the buyer decision process?

need recognition

Which of the following would most likely use informal research methods to obtain marketing insights?

not for profit organization

A_____ is best suited for exploratory research

observation

Ethnographic research essentially involves

observation and interaction

Which of the following methods should a marketing researcher use to obtain information that people are unwilling or unable to provide?

observational research

In a SWOT analysis, which of the following would be considered a weakness of a company?

obsolete technologies used by the company

Firms that manufacture seasonal products target their consumers primarily through_____ segmentation

occasion

Which of the following is a quantitative Internet-based research approach?

online survey

which of the following is a structured method of online research where marketers require direct responses from customers

online surveys

are people with a reference group who, because of special skills, knowledge, personality, or other characteristics, exert social influence on others

opinion leaders

In a SWOT analysis,________ refer to favorable factors or trends in the external environment that a company may be able to exploit to its advantage

opportunities

refers to working closely with people inside and outside the company to jointly bring more value to customers

partner relationship management

Argonaut Food Stores, a retail giant, hires better-skilled employees than its competitors by employing strategic recruitment practices. It also conducts highly specialized training programs for its employees. In this case, Argonaut has focused on gaining a strong competitive advantage through ________ differentiation.

people

The most effective sources of information about a product tend to be______ sources

personal sources

refers to the unique psychological characteristics that distinguish a person or group

personality

When viewing the market from a buyer's point of view, "convenience" corresponds to the______component of the marketing mix

place

Zeal is a popular automobile brand, and its positioning statement reads as follows: "For upscale American families who require large vehicles, Zeal is the automobile of choice." Which of the following mandatory elements is missing from the positioning statement?

point of difference

consists of arranging for a market offering to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumers

positioning

Company and brand positioning statement should be summed up in a

positioning statement

Which of the following includes the target segment of a product, the category to which the product belongs, and the product's point of difference from other members in the category

positioning statement

Governments most likely enact business legislation to

prevent unfair competition in the market

data consist of information collected for the specific purpose at hand

primary

Voorhees' Farms raises chickens. For years, it has used wooden coops for hauling its poultry to market. When the owner, Jason Voorhees, went to reuse some of his coops, he noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced. Which stage of the business buying process was Voorhees in when he decided to replace his old coops?

problem recognition

The ultimate aim of customer relationship management is to

produce high customer equity

Estel, a kitchen cabinet manufacturer, positions its cabinets as furniture with superior craftsmanship and durability. This is an example of______differentiation

product

The______ concept holds that consumers will favor goods and services that offer the most in quality, performance, and innovative features

product

To which of the following elements of the marketing mix do design, packaging, services and features belong

product

Which component of the marketing mix refers to goods and services combination a company offers to its target market?

product

During which stage of the business buying process is a buyer most likely to conduct value analysis by carefully studying components to determine if they can be redesigned, standardized or made less expensively

product specification

Henry Ford's philosophy was to perfect the Model -T so that its cost could be reduced further for increased consumer affordability. This most likely reflects the

production concept

Voize a leading mobil phone manufacturer, focuses on low labor costs and mass distribution to ensure that the continuous availability of its product at reasonable prices. Voize most likely follows the

production concept

Which of the following concepts holds that consumers will favor products that are available and highly affordable

production concept

when viewing the market from a buyer's point of view, "communication" corresponds to the______ component of the marketing mix

promotion

GenX, a manufacturer of sport motorcycles, is seeking a new supplier of motorcycle headlamps and brake lights. After searching trade directories, GenX invites five different suppliers to make formal presentations about how their solutions can create greater value for GenX than competing solutions. GenX is currently in the ________ stage of the business buying process.

proposal solicitation

At one time, Miller Beer was known as the "champagne of bottled beer." It was targeted at an elite class of customers. Later, to increase sales, Miller was repositioned to attract members of the working, middle-class. What is this segmentation method called?

psychographic

Most common research instrument, whether administered in person, by phone, by email, or online, is the

questionnaire

A shoes company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' view point, the band is an

reference group

is the degree to which an innovation appears superior to existing products

relative advantage

Which of the following criteria does the Boston consulting group approach use to provide a measure of a company's strength in the market

relative market share

In a straight rebuy, a buyer

reorders something without any modifications

JJ Distributors LTD. buys electronic products from manufacturers for wholesale and sells them to various retail outlets. To which of the following markets does JJ Distributors LTD directly cater?

reseller markets

which of the following is the means by which companies post purchase requests online and invite suppliers to bid for their business?

reverse auctions

Which term refers to the activities a person is expected to perform according to the people around him or her?

role

Which of the following marketing actions would a proactive organization most likely take?

running advertorials to shape public opinion

information collected from online databases on the internet is an example of_________data

secondary

Which of the following best describes a company's business portfolio?

the collection of businesses and products that make up the company

Which of the following sources constitutes the internal database of a company?

the company's sales records

Which of the following factors would fall under the demographic environment for marketers?

the educational level of a company's customers

Which of the following are examples of internal publics of a company?

the mangers, board of directors, and workers of the company

Which of the following concepts is based on a customer-centered philosophy?

the marketing concept

Which of the following demonstrates the real value of a company's marketing research and information system?

the quality of customer insights it provides

Which of the following best describes the value chain of a company?

the series of departments that design, produce, market, deliver and support the company products

Which of the following is part of the microenvironment of a firm's marketing environment?

the suppliers who work with the company

which of the following is an advantage of primary data?

they are more relevant than secondary data

Which of the following is most likely a true statement about baby boomers?

they are the wealthiest generation in U.S. History

Which of the following is true of perceptual positioning maps?

they are used to analyze consumer perceptions of a brand versus competing products

Which of the following is most likely true about companies that take a proactive stance toward the marketing environment

they develop strategies to change the marketing environment

Which of the following is most likely a characteristic of the Millennial generation?

they like to engage in two way brand conversations

Which of the following is most likely a characteristic of firms that adopt a reactive approach toward the marketing environment?

they take advantage of the opportunities provided by the environment

a major advantage of a mail survey is that it

eliminates interviewer bias

Which of the following groups is included in a company's value chain?

employees

Ainsworth is a toy manufacturer based in Australia. Which of the following most likely indicates that Ainsworth is following diversification strategy?

Ainsworth enters the U.S. with a line of children's clothing

is best suited for descriptive research

A survey

Blue Bear is a shoe manufacturer based in the United States. Which of the following indicates that the company is following a market development strategy?

BlueBear introduces its shoes in the Indian and South East Asian markets

A firm has a huge amount of individual customer data saved in different databases. Which of the following can be used to integrate, analyze, and apply the available information effectively?

CRM systems

Cylog, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by Cylog?

Customer driving marketing

are tools that give marketers the detailed measures they need to assess and adjust their strategies

Dashboards

Which of the following best describes a marketing department with a functional organization?

Different marketing activities are headed by specialists such as sales managers, advertising managers, marketing research managers, and customer service managers

In the BCG matrix, ______ are low share businesses and products in low growth markets

Dogs

Which of the following is true of strategic planning in a firm?

It deals with adapting the firm to take advantage of changing marketing opportunities

which of the following is true of mobile marketing?

Marketers use mobile channels to stimulate immediate buying

Which of the following is true of marketing ROI?

Marketing ROI measures the profits generated by investments in marketing activities

are defined as states of felt deprivation

Needs

Which of the following is true of question formats in questionnaires?

Open ended questions are useful in exploratory research to find out what people think

through_____, brands can be differentiated on features, performance, or style and design

Product differentiation

what are the main two types of research instruments used to collect primary data?

Questionnaires and mechanical devices

are distribution channel firms that help a company find customers or make sales to them

Resellers

Kobe Healthcare's analgesic drug Dolphin has a 45% share in the market in Bodonia. Its closes competition , has a 25% share in the market, while three other drugs splits the remainder. Which statement indicates that Dolphin is a star according to the BCG matrix?

The Bodonian market for health care products is expanding rapidly

Omni Healtchare's analgesic drug Cetaprin has a 40% share in the analgesics market in the country of Terrania. Its closest competitor, Febex, has a 25% share int he market, while four other analgesic brands split the remainder. Which statements indicates that Cetaprin is a cash cow according to the BCG matrix?

The demand for analgesic drugs in the Terranian market is expected to remain stable

Which of the following transforms marketing strategies into real values for consumers?

The four Ps of marketing

Which of the following is most likely a true statement about generational groups in the United States

The generation Xers are the most educated to date

Alice is shopping for a new car, and she has narrowed her decision to a Honda Accord and a Toyota Camry. Both sedans have similar features and prices, but Alice decides to purchase the Honda based on her intuition. Which of the following situations would most likely cause Alice to experience postpurchase dissonance?

The price of the Toyota Camry falls due to an increase in demand

Which of the following is most likely a characteristic of Generation Xers?

They were the first group to grow up in the Internet era

Carla, a team leader in charge of customer relationship management, is planning strategies to improve profitability of her firm's least profitable but loyal customers. She is also examining methods for "firing" customers in this group who cannot be made profitable. To which of the following customer relationship groups do these customers belong?

barnacles

Fine Corp., a consumer electronics manufacturer, targets a market with many low-margin customers, Which of the following types of associations would be most profitable for the firm to develop with these customers?

basic relationships

Dividing buyers into groups based on their knowledge, attitudes, uses, or responses to a product is called_____ segmentation

behavioral

The marketing manager at Frizzles' Eateries targets customers who are working to lose weight but who still want to dine out. The restaurant chain offers a wide variety of low-fat, low-calorie meals that appeal to dieters. Frizzles' approach is best referred to as ________ segmentation.

benefit

which of the following terms is used to describe a specific mix of human traits that may be attributed to a particular brand?

brand personality

Which of the following is true of business markets?

business demand is derived demand as it ultimately derives from the demand for consumer goods

Dextora Technologies manufactures microprocessors and caters exclusively to private manufacturers that produce high-end computer. Which type of market does Dextora directly target?

business market

A customer who is potentially profitable but shifts loyalty toward better deals is referred to as a

butterfly

Which of the following types of marketing involves creating opinion leaders to serve as brand ambassadors to spread the word about a company's products?

buzz marketing

"Without our customers we don't exist". Ken and his staff aim to delight each customer and they are quick to offer discounts or extra services whenever a customer is anything less than satisfied. Instead of focusing on individual transactions, Ken and his staff are putting a priority on

capturing customer lifetime value

the final step in the marketing process is

capturing value from customers

In the BCG matrix,______ refer to low growth, high share businesses or products

cash cows

Vernon Inc. would like to set the best price for a new product. The firm conducts an experimental study by selling the new product at two different prices in two different locations keeping other factors constant to see if a lower price results in better sales. This is most likely an example of ________ research.

causal

experimental research is best suited for gathering_____ information

causal

which of the following types of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage, and expertise, and performance?

channel differentiation

Minority groups that question a company's marketing decisions most likely belong to______ publics

citizen-action

Customer driven marketing is most effective when

clear needs exist and customers know what their needs are

The Niketown running community organizes bimonthly athletic training programs for Nike buyers. This is an example of

club marketing program

is a discomfort caused by post purchase conflict

cognitive dissonance

A brand difference is said to be preemptive if

competitors cannot easily copy the difference

is the degree to which an innovation is difficult to understand or use

complexity

Unlike other car rental agencies that are based in airports to serve travelers, Wheelz on Rent has a network of neighborhood offices. The firm strives to serve people who need car rentals for reasons other than vacation, such as when their own cars are being repaired. Wheelz-On-Rent caters to a small share of the large car rental market. From this description, it can be concluded that Wheelz-On-Rent most likely practices ________.

concentrated marketing

ethnographic research is

conducted in settings where people live and work

Subsistence economies are best defined as economies that

consume most of their own agricultural output and offer few market opportunities

markets consists of individuals and households that buy goods and services for personal use

consumer

Ellis, a marketing manager at a regional chain restaurant, has decided to create a contest asking the public to create commercials for the restaurant. Winning entries will be posted on the organizations home page. Ellis' plan is an example of

consumer generated marketing

which of the following is true of focus group discussions?

consumers are not always honest and open about their opinions

The production concept holds that

consumers will favor products that are available and highly affordable

The selling concept holds that

consumers will not buy enough of a firm's products unless the firm undertakes large-scale persuasion and promotion efforts

Marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on

consumers' existing wants

A market segment is less attractive when

contains powerful suppliers who can control prices

Which of the following is most likely true about people's beliefs and values?

core beliefs and values have a high degree of persistence

The concept of shared value focuses on

creating economic value in a way that also creates value

refers to the practice of including ethnic themes within a company's mainstream marketing

cross cultural marketing

are minor stimuli that influence where, when, and how a person responds to an idea

cues

Raymond purchased a Honda Civic six months ago because he perceived Honda's superiority over the competition. Raymond has been more than satisfied with his purchase and now has an emotional relationship with the Honda brand. Raymond's relationship with Honda is best referred to as

customer delight

Futuristic Designs Inc a furniture retail chain, understands and anticipates customer needs even better than customers themselves do and creates products and services to meet their existing future needs. Which of the following has Futuristic Designs followed in this case?

customer driving marketing

is the total combined customer lifetime values of all the company's current and potential customers

customer equity

Which of the following terms refers to a customers evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers?

customer perceived value

The overall process of dealing with all aspects of acquiring, keeping, and growing customers is referred to as

customer relationship management

Directing consumers toward products and services that meet their present and future needs is referred to as_______ marketing

customer-driving

Brooke's Boutique plans to launch a new clothing line. For this purpose, the firm first conducts a survey to understand its target audience and identify the demographics of potential buyers. It then conducts experimental research to test whether customers associate discounted prices with lower product quality. Which types of research has the boutique employed in this case?

descriptive followed by causal

Coolers Inc. has decided to launch a new energy drink that will have the fewest calories among its competitors. To understand the market potential for the new drink and the demographics and attitudes of consumers who are likely to buy the product, Coolers should most likely use ________.

descriptive research

Which of the following is a disadvantage of online focus groups

determining the identity of people who constitute an online sample is difficult

Both product development strategies and diversification strategies involve

developing a new product

Which of the following is the second step of the marketing research process?

developing the research plan

According to the product concept, a company should

devote its energy to making continuous product improvements

When market segments are conceptually distinguishable and respond distinctively to various marketing mix elements and programs, they are said to be

differentiable

Port Orleans Shipping markets different services to tourism, defense, and trade segments. The firm designs separate offers for each segment based on their needs. This approach is called_____ marketing

differentiated

Which of the following will most likely be included in the "price" component of a company's marketing mix?

discounts

A strategy fro company growth through starting up or acquiring businesses outside the company's current products and markets is called

diversification

Which of the following best describes market segmentation?

dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors

is the degree to which an innovation may be tried on a limited basis

divisibility

A_____becomes a motive when it is directed toward a particular stimulus object

drive

changes in variables, such as income, cost of living, interest rates, and savings and borrowing patterns most likely reflect changes in the______ environment of a company

economic

Rasco Corp. segments its foreign markets based on the income levels of a country's population. In this case, the firm segments its market based on

economic factors

A marketing firm has been assigned the task of watching trends in personal income, savings, and interest rates. The marketing firm is most likely gathering information about consumers'

economic situations

the objective of_____ research is to gather preliminary info that will help define the problem and suggest hypotheses

exploratory

Which of the following do organizational buyers use when they want to connect with important suppliers and create direct procurement accounts?

extranet links

Which of the following is a social factor that influences consumer buying behavior

family

Monfax Corporation insures manufacturers, distributors, and consumers against the loss or damage of goods during transportation after a purchase or sale. In this case, Monfax is an example of

financial intermediary

Reseller markets consists of

firms that buy goods and services at a profit

Which of the following is most likely categorized as a business market?

firms that buy goods and services for further processing

when marketers want to promote their products and services through word of mouth marketing programs, they typically begin by

generating person to person brand conversations

Which of the following has resulted from the increased educational levels of the U.S. population?

greater job growth for professional workers

In the BCG growth share matrix, stars refer to products or businesses with a

high market share in a market with a high growth rate

Compared with undifferentiated marketing, differentiated marketing is more likely to lead to

higher costs of doing business

Customers recognize the products of Breads & Butters, a coffee shop, by identifying the "twisted bread" logo that helped the firm revolutionize its products. In this case, the firm has differentiated itself through its

image

The process that turns marketing plans into marketing actions to accomplish strategic marketing objectives is called marketing

implementation

After a research instrument is selected, the next step in the marketing research process is

implementing the research plan

What is the first step in the marketing research process?

implementing the research plan

Which type of market segmentation is generally used by marketers who sell products for the affluent segments of a population?

income

BritWay Ventures, a leading producer of soft drinks is considering a differentiated marketing strategy. It is most likely important that the company weights increased sales against_____ before selecting this strategy

increased costs

Which of the following represents a change in the technological environment of a marketing firm?

increased use of RFID systems to track products

Which of the following contact methods is flexible, allows for explantation of difficult questions, and lends itself to demonstrating products

individual interviews

Becca wants to buy a new coat. She asks her friends to recommend a store and or a style of coat. She looks for sale advertisements for coats in the newspapers and also visits nearby stores to check if she can find something in her budget. In this case, Becca is most likely in the _______ stage of the buyer process

information search

In which of the following stages of the adoption process does a consumer seek information about a new product?

interest

Producers of popular beverages often partner with global music channels to target consumers through a variety of promotional events and advertisements. This approach to marketing is referred to as ________ segmentation.

intermarket

Diane Chambers, the marketing manager of FarmFresh, collects data from her monthly record of sales, costs, and cash flow. In this case, Diane is making use of______databases.

internal

In which of the following research methods does the sample size have little impact on costs?

internet based surveys

What is the last step in the marketing research process?

interpret the findings

With a market development strategy, a company aims to improve sales by

introducing its product in a new market without making any changes to its product

Which of the following will most likely be included in the "place" component of a company's marketing mix?

inventory

Which of the following is true of a good marketing information system?

it balances the information that a firm wishes to have with the information a firm actually needs

Which of the following is true of competitive marketing intelligence?

it can be obtained from information that is available in the public domain

Which of the following is true about customer relationship management?

it consists of sophisticated software and analytical tools

Which of the following is true about local marketing?

it increases manufacturing costs

Which of the following is true of survey research

it is the most widely used method for gathering primary data

A successful niche marketing strategy relies on a firm's

knowledge of customer needs

are tradition-bound, suspicious of changes, and adopt an innovation only when it has become something of a tradition itself

lagging adopters

Which of the following statements is true of international marketing research?

language translation in international marketing research typically increases costs and raises the risk of errors

opinion leaders are also known as

leading adopters

which of the following is a personal factor that influences a consumer's buying behavior?

life cycle stage

which of the following is a psychographic characteristic of a customer?

lifestyle

Haley Computers Inc. has appointed a few employees to sift through customer conversations on online forums and social networking sites regarding products purchased from Haley. These employees are likely to be working as

listening officers

___marketing tailor brands and promotions to the needs and wants of specific cities, neighborhood and even stores

local

Marketers tailoring brands and promotions to the needs and wants of specific customer group practice_______

local marketing

The town of Genter recently witnessed a devastating hurricane that crippled the town's infrastructure. Q-Mart, a retail chain that plans to open a new retail store in Genter, organizes a program to help the people of Genter. The program consists of providing free meals to those who lost their dwellings in the hurricane. What section of the marketing microenvironment is Q-Mart most likely trying to reach?

local publics

Which of the following is a primary characteristic of strategic control rather than operating control?

looking at whether the company's basic plans and action goals are well matched to its opportunities

In the BCG growth share matrix, question marks refer to products or businesses with a

low market share in a market with high growth prospects

Kathy Jenkins is planning to conduct research on consumers' personal care routines. Since the questions are likely to be personal and sensitive, Kathy wants to select a contact method that will encourage respondents to answer honestly. Which of the following contact methods is most likely to serve Kathy's purpose?

mail questionnaires

One of the demographic trends seen in the US over the last few decades is the decrease in proportion of

manufacturing workers

Which of the following is most likely a true statement about people's views about organizations?

many people view work at an organization as a required chore

Acme Inc a manufacturer of construction and mining equipment is based in Australia. Acme modifies the production processes of its widgets and gadgets to sell its current products in Eastern Europe. This is most likely an example of a ______ strategy

market development

RedInk, a company that manufactures office furniture, is based in Bodonia. It is looking to sell its current products in other countries as well. The company identifies the country of Soleria as a good option because the cultures and tastes of consumers in the two countries are similar. This is an example of a strategy for

market development

which of the following criteria provides a measure of market attractiveness in the Boston Consulting group approach

market growth rate

A strategy for company growth that involves increasing sales to current market segments without changing the product is known as

market penetration

EcoBean, a chain of cafes, has introduced a special Shopper card that allows customers to pay in advance for coffee and snacks. This effort by EcoBean management is most likely an example of

market penetration

A consumer group that responds in a similar way to a given set of marketing efforts is the company's

market segment

Dividing a market into several sections of customers is known as

market segmentation

Which of the following is the right order of steps companies generally follow in designing a customer-driven market strategy?

market segmentation, market targeting, differentiation, and positioning

Which of the following marketing measures can be best translated into dollar returns?

market share

is the process of evaluating the attractiveness of different market segments and selecting one or more segments to enter

market targeting

refers to the process of evaluating each market segment's attractiveness and selecting one or more segments to enter

market targeting

The____ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do

marketing

Evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are attained is called

marketing control

Which of the following statements regarding marketing intelligence is true?

marketing intelligence is the systematic collection and analysis of publicly available info

Indigo, a company that manufactures electric chimneys, is based in the country of Terrania. Indigo aims to increase its sales by increasing advertising efforts and undertaking frequent promotional events. Which of the following strategies is Indigo using in this scenario?

marketing penetration

is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization

marketing research

Traxx is a newly emerging shoe manufacturing company. After extensive market research, Traxx divides its market into professional athletes, "hobbyists" or amateur players, and people who wear shoes as part of their casual attire. Each category has its own needs, traits and marketing goals. In this scenario, Traxx has engaged in market

segmentation

People tend to interpret new information in a way that will support what they already believe. This is called

selective distortion

means that consumers are likely to remember good points made about a brand they favor and forget the good points made about competing brands

selective retention

Which of the following needs in Maslow's hierarchy is generally satifsfied last?

self actualization needs

Both market penetration strategies and market development strategies primarily involve

selling a company's current products

When a company chooses to divest a particular strategic business unit, it

sells off or phases out the strategic business unit

Companies are likely to gain_______ through speedy, convenient, or careful delivery of products

service differentiation

refers to the portion of the customer's purchase that a company gets in its product categories

share of customer

The state department of health has allowed a significant amount of money for an advertising campaign that emphasized the ill effects of smoking and spans radio, print, television, and online media. This is an example of_____ marketing

social

Which of the following is most likely a true statement about social class?

social classes show distinct product preferences in areas such as clothing

Some fast food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to the soaring obesity rates and environmental problems. In this case, these fast food restaurants have overlooked the_____ concept.

societal marketing

which of the following concepts calls for sustainable marketing?

societal marketing concept

Which of the following statements is true in the context of the BCG growth share matrix?

stars often need heavy investment to finance their rapid growth in a market

A______ reflects the general esteem given to the different roles of a person by society

status

according to Maslow's hierarchy of needs, which of the following is most likely an esteem need?

status

Which of the following is most likely a financial public?

stockholder

A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a

straight rebuy

are customers who show low potential profitability and little projected loyalty

stranger

In which of the following customer relationship groups do organizations generally avoid investing

strangers

involves looking at whether a company's basic business models are well matched to its opportunities

strategic control

When a market segment is large or profitable enough to serve, it is termed

substantial

which of the following is most likely the final stage of the business buying process

supplier performance review

provide the resources needed by a company to produce its goods a services

suppliers

is a method of gathering primary data that involves asking people questions about their knowledge, attitudes, preferences, and buying behavior

survey research

is defined as a business strategy where business buyers prefer to buy a complete solution to a problem from a single seller rather buying separate products and services form several suppliers

systems selling

GT Grand, a manufacturer of luxury cars, supplies customized vehicles based on specific demands of customers in affluent market segments. The company's approach is most likely referred to as

target marketing

Selecting particular segments of a population of customers to serve is called

target marketing

which of the following is an example of a media public

television station

Customer evangelists are those who

tell others about their good experiences with a brand or product

Customers who are classified as true friends

tell others about their good experiences with a company

Causal research is used to

test hypotheses about cause and effect relationships

Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy. The CEO stresses that the new mission statement should be market oriented rather than product oriented. Which of the following mission statements will best suit the company?

to give customers the complexion they dream about by providing products suited to their needs

Which of the following is true of product positioning?

to simplify the buying process, consumers are likely to position products in their minds

The responsibility for setting a company's mission, objectives, broad strategies, and policies primarily lies with its

top management

When using a harvest strategy for a particular strategic business unit, a company

tries to maximize its short term cash flow regardless of long term concerns

A customer who is both loyal and profitable is referred to as a

true friend

According to the five step model of the marketing process, the first step in marketing is

understanding the marketplace and customer needs and wants

By offering product and marketing variations to segments and developing a strong position within several segments, companies hope to create more total sales through segmented marketing than____ marketing across all segments

undifferentiated

Which of the following is an approach where firms target a whole market based on common consumer needs

undifferentiated marketing

the selling concept is typically practiced with

unsought goods

Shampoo marketers segment buyers as light, medium, or heavy product users. This is an example of ________ segmentation

usage rate

Markets can be segmented into groups of non users, ex users, potential users, first time users, and regular users of a product. This method of segmentation is called

user status segmentation

Which of the following is an experiental source of product information?

using the product

Which of the following is most likely the cheapest and quickest means to collect data for marketing research?

utilizing internal databases to gather sales data

A______ is made up of a company, its suppliers, its distributers, and its customers who partner with each other to improve the performance of the entire system

value delivery network

A brand's________ is the set of benefits that promises to deliver to consumers to satisfy their needs

value of proposition

In which of the following circumstances is an organization likely to engage in full partnerships with key consumers?

when the market has few customers and high margins