Marketing Midterm S.G. 346 - Poly

Which of the following statements is not one of the guidelines provided by the American Marketing Association for conducting marketing research? Select one: A. Clients and suppliers should be treated fairly. B. Selling or fund-raising should not be conducted under the guise of conducting research. C. Researchers should not omit pertinent data. D. Personal information about research participants should not be shared, except with a designated member of senior management. E. Researchers should not misrepresent data.

D. Personal information about research participants should not be shared, except with a designated member of senior management.

The growth phase of the product life cycle is always dynamic. Which of the following does not occur in this phase? Select one: A. Profits increase as sales increase. B. Profits increase as economies of scale are attained. C. Some competitors will exit in an "industry shakeout." D. Price competition with protracted price wars erodes profits. E. Some new competitors may enter the market with similar products.

D. Price competition with protracted price wars erodes profits.

Which technological advancement enables a firm to track an item from the moment it was manufactured, through the distribution system, to the retail store, and into the hands of the final consumer? Select one: A. data mining systems B. Internet cookies C. greenwashing D. RFID tags E. JIT inventory systems

D. RFID tags

Laptop computers, personal digital assistants, and cellular phones were all readily accepted and diffused in U.S. markets where business and personal lifestyles tend to be faster-paced, compared to many other areas in the world. These products offered __________ with consumers' needs and priorities. Select one: A. trialability B. observability C. complexity D. compatibility E. relative positioning

D. compatibility

Robin recently bought Voice over Internet Protocol (VoIP) phone service. A few of Robin's friends bought VoIP before she did, but many other friends were interested in Robin's opinions of the new phone service. Robin is a(n) __________ in this product category. Select one: A. early majority adopter B. late majority adopter C. laggard D. early adopter E. innovator

D. early adopter

One of the potential benefits to a firm of introducing new-to-the-world products or services is Select one: A. cost savings. B. late majority marketing. C. the ability to capitalize on existing consumer preferences. D. establishment of a completely new market. E. the ability to avoid paying pioneers for new product development.

D. establishment of a completely new market.

Craig sees that his company's quarterly sales and profits are significantly above projections and says, "That's great. Let's keep doing what we've been doing." Craig is ignoring the __________ step of the marketing planning process. Select one: A. identify and evaluate opportunities B. implement marketing mix and resources C. perform situation analysis D. evaluate performance E. define the business mission

D. evaluate performance

Laws that prohibit the formation of monopolies or alliances that would damage a competitive marketplace benefit consumers through Select one: A. fewer competitors. B. protection from false advertising. C. fair debt collection practices. D. increased choices. E. higher prices.

D. increased choices.

Typical demographic data include all of the following except Select one: A. race. B. gender. C. education. D. language differences. E. income.

D. language differences.

When Ron complained to his bank about the unprofessional behavior of one teller, the branch manager added a code into his accounts alerting all tellers that Ron was a valued customer and to provide whatever service he requests. The branch management included Ron in its __________ segmentation. Select one: A. geodemographic B. psychographic C. geographic D. loyalty E. benefit

D. loyalty

Frequent buyer/user award programs are used to Select one: A. lower licensing fees. B. increase price sensitivity. C. expand product line depth. D. maintain contact with loyal customers. E. decrease co-branding costs.

D. maintain contact with loyal customers.

When evaluating the attractiveness of the segment, if a segment is expected to react positively to the firm's offering, we say that the segment is Select one: A. substantial. B. reactive. C. reachable. D. responsive. E. identifiable.

D. responsive.

The prevailing marketing strategy of the __________ era was to find customers for inventories that went unsold. Select one: A. value-based marketing B. market-oriented C. production-oriented D. sales-oriented E. retailing-oriented

D. sales-oriented

Janelle is shopping for a unique outfit for a benefit dinner dance. She wants it to sparkle and shine, but still feel light, silky, and comfortable. For the highest satisfaction, Janelle likely should Select one: A. price match multiple competitors. B. start browsing the Internet. C. shop via catalog. D. shop in traditional retail stores. E. use M-commerce.

D. shop in traditional retail stores.

After assessing the market growth potential for his company's baby products in Mexico, Harmon wanted to evaluate market competitiveness. To do this, Harmon would consider Select one: A. profitability and customer buying behavior. B. ease of pricing control and number of promotional outlets. C. mass marketing of distribution potential and logistical support. D. the number of competitors, entry barriers, and product substitutes. E. the current size of the market and the expected growth rate.

D. the number of competitors, entry barriers, and product substitutes.

The diffusion of innovation theory focuses on Select one: A. the geographic boundaries of innovation. B. the relationship between pioneer brands and imitators. C. the way a product moves through the product life cycle. D. the rate at which consumers are likely to adopt a new product or service. E. the psychological traits of innovators.

D. the rate at which consumers are likely to adopt a new product or service.

Which of the following is an example of greenwashing? Select one: A. The Smiths installed energy-saving lightbulbs in their rental apartment buildings. B. A company charges more for a hybrid car than for a similar gas model. C. The corner Laundromat stocks only phosphate-free detergent in its vending machines. D. A company markets a product made from recycled glass bottles. E. A company donates money to a school reading project so it can advertise itself as environmentally friendly.

E. A company donates money to a school reading project so it can advertise itself as environmentally friendly.

Value-driven firms constantly measure the relationship between Select one: A. merchandise and selling. B. benefits and information. C. products and costs. D. products and promotion. E. benefits and costs.

E. benefits and costs.

For retailers, promotion refers to Select one: A. the seasonal discounts offered to move end-of-season items. B. the image a store attempts to maintain through its pricing strategy. C. the relationship between price and product. D. supply chain communication. E. both their in-store environment and their media communications.

E. both their in-store environment and their media communications.

Brand dilution occurs when Select one: A. there are too few products and product categories. B. new brands compete with existing brands. C. brand names seem too old-fashioned or familiar. D. customers see the "fit" between products sharing the same brand name. E. brands are overextended and customer perceptions about the core brand are adversely affected.

E. brands are overextended and customer perceptions about the core brand are adversely affected.

The United States has often been called the "melting pot" society, integrating people from many different cultures into the social fabric of the country. The challenge for marketers is to determine whether a group's culture Select one: A. is socially important. B. competes with or complements U.S. traditional culture. C. is passed from generation to generation orally or by written guides. D. is an important immediate marketing environment variable. E. can be used as a relevant identifier for a particular target group.

E. can be used as a relevant identifier for a particular target group.

Martin has hired a marketing research company to bring together a small group of soft drink consumers and get feedback on the three new advertising slogans his firm is considering. The marketing research firm might conduct a(n) __________ to provide the information Martin has requested. Select one: A. primary data mining analysis B. experiment C. industry survey D. observational study E. focus group

E. focus group

A customer who is shopping for fashionable but relatively low-cost merchandise in a pleasant environment is shopping at a(n) Select one: A. extreme value retailer. B. convenience store. C. specialty store. D. department store. E. full-line discount store.

E. full-line discount store.

According to the text, 14 cable companies agreed to provide low-cost Internet access to impoverished families for all of the following reasons except Select one: A. the economic status of consumers. B. calls for greater social responsibility. C. pressures from the Federal Communications Commission. D. increased access to faster broadband capabilities. E. increased income from a larger number of subscribers.

E. increased income from a larger number of subscribers.

Lorraine belongs to a national consumer panel created by a market research company. She regularly receives samples of new products from a variety of firms and fills out questionnaires about the products. The national consumer panel Lorraine is part of is engaged in Select one: A. test marketing. B. concept testing. C. product development. D. product launch. E. premarket testing.

E. premarket testing.

Retailing is the primary activity in all of the following situations except Select one: A. upgrading an airline ticket at the airport. B. purchasing one case of paper for the office at Office Max. C. visiting a tile store which sells at wholesale prices. D. buying and eating a fast-food meal. E. transporting pallets of Daisy brand dairy products.

E. transporting pallets of Daisy brand dairy products.

As a promotion technique, samples are often used for new products when __________ will influence the diffusion of the product. Select one: A. compatibility B. relative advantage C. observability D. complexity E. trialability

E. trialability

Marco was assigned to help create a positioning strategy for his employer's products based on product attributes. He should consider Select one: A. the features the engineers feel are most important. B. the safety record of the firm and its products. C. the ways the sales representatives have been positioning the firm's products. D. the characteristics that helped his firm win a statewide award for excellence in manufacturing. E. what the target market would consider the most important features.

E. what the target market would consider the most important features.

__________ are combating competitive pressures by offering fresh food and healthy fast food, tailoring assortments to local markets, opening locations closer to where consumers work and shop, and adding new services. Select one: A. Convenience stores B. Supercenters C. Warehouse clubs D. Department stores E. Extreme value retailers

A. Convenience stores

One advantage of a retail store that is not shared with an Internet channel is Select one: A. accepting cash payments. B. offering a greater selection of products. C. price matching competitors. D. collecting information about how consumers shop. E. providing meaningful product information.

A. accepting cash payments.

In 2006, Walmart announced that it would begin selling organic food products. In doing so, Walmart was most likely trying to Select one: A. attract a different market segment. B. reduce its costs. C. offset cost-based pricing pressure. D. save the environment. E. gain government subsidies.

A. attract a different market segment.

When firms successfully implement poor strategies (perhaps due to good luck) or do a poor job of implementing good strategies, it can be difficult to Select one: A. evaluate performance and make adjustments. B. choose a business mission. C. increase product excellence without reducing customer excellence. D. develop segmentation strategies. E. generate cost-based performance ratios.

A. evaluate performance and make adjustments.

Value creation through place decisions for a consumer product involves Select one: A. making sure the product is available in the stores where customers will want to find it, and that it is always in stock so they can buy it when they want to. B. pricing products differently at different stores. C. focusing exclusively on Internet sales to reduce supply chain costs. D. designing creative displays to capture consumers' attention. E. putting the product in the front of the store.

A. making sure the product is available in the stores where customers will want to find it, and that it is always in stock so they can buy it when they want to.

A __________ growth strategy employs the existing marketing offering to reach new market segments. Select one: A. market development B. product development C. product proliferation D. market penetration E. diversification

A. market development

Successful firms focus their efforts on satisfying customer needs that Select one: A. match their core competencies. B. competitors have tried and failed to satisfy. C. provide minimal core value. D. are important to all generational cohorts. E. are easiest to satisfy.

A. match their core competencies.

Marketers involved in value-oriented marketing are constantly balancing A. perceived customer benefits with the costs of their offerings. B. promotional effectiveness with ethical advertising standards. C. the problem of price maximization with cost-efficiency. D. the goal of efficiency with the price charged by competitors. E. the desire to achieve with the need for a stable source of supply.

A. perceived customer benefits with the costs of their offerings.

John used to work for a large, well-known retailer. He left that company to work for a much smaller company, and in doing so, he discovered that the channel functions were handled very differently in the smaller firm. Looking back at his experience, he noticed that larger firms Select one: A. perform many different channel functions themselves. B. use more independent salespeople. C. have less control in the channel. D. are generally less efficient. E. spend more money wastefully.

A. perform many different channel functions themselves.

Jeff is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to the volume he will sell monthly. He has researched his competition, talked to some customers, and decided on prices he will charge. Jeff has also developed a plan for promoting his business. Based on this description, which element of the marketing mix does Jeff still need to work on? Select one: A. place B. product C. price D. promotion E. planning

A. place

Which of the following is not part of the "actual product" level of the product offer? Select one: A. product warranty B. design C. quality D. features E. brand name Feedback

A. product warranty

When McDonald's comes up with a new drink or sandwich for its restaurants, it often markets it in a dozen or so of its outlets. When the company does this, it is engaged in Select one: A. test marketing. B. concept testing. C. pretesting. D. product launch. E. product development.

A. test marketing.

Mira purchased some eyeliner from an Internet-based beauty supply house, and now she often receives online recommendations for other products from the same cosmetics line. These recommendations were probably the result of Select one: A. the purchases she had made. B. products she may have returned to the company. C. manufacturer clearances and overruns. D. purchases other customers had made that day. E. items the retailer no longer carries.

A. the purchases she had made.

Value is Select one: A. what you get for what you give. B. represented by brand names. C. the highest-priced alternative. D. the lowest cost option. E. everyday low prices.

A. what you get for what you give.

Customer retention programs are based on what concept? Select one: A. It is important to maximize profits in the first few months of a customer relationship. B. Customer relationships should be viewed from a lifetime value perspective. C. Customer excellence is the easiest macro strategy to follow. D. Segmentation, targeting, and positioning analysis should not be rushed. E. Firms must spend large amounts of money to retain customers.

B. Customer relationships should be viewed from a lifetime value perspective.

________ is another term for private-label brands. Select one: A. Off brands B. Store brands C. National brands D. Manufacturer's brands E. Experiential brands

B. Store brands

Caroline needs to find information about income and age distribution in Orange County, California. The best source of secondary research of use to Caroline is likely to be Select one: A. sales invoices at public libraries. B. U.S. Census data. C. syndicated data. D. door-to-door surveys. E. focus group interviews.

B. U.S. Census data

Supercenters are large stores that combine a supermarket with a full-line discount store. _______ dominates this category with the vast majority of supercenters in the United States. Select one: A. Kmart B. Walmart C. Kroger D. Target E. Meijer Feedback Walmart operates more tha

B. Walmart

Nordstrom, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputation for excellent customer service will most likely result in Select one: A. mission statement satisfaction. B. a sustainable competitive advantage. C. sustainable price decreases. D. product design excellence. E. producer excellence.

B. a sustainable competitive advantage.

Marco tried a new fruit-flavored beverage and thought it was awful. He was especially disappointed because he had liked the dried fruit snacks marketed under the same brand name. Now he wasn't sure he even wanted to buy the snacks he had liked before. This highlights a problem in branding known as Select one: A. comingled brands. B. brand dilution. C. undifferentiated brands. D. approximated brands. E. unlicensed brands.

B. brand dilution

Matt was passionate about Abercrombie & Fitch. It was the only place he'd buy his clothes. If anyone asked him about clothes, he would talk for what seemed like hours about why he only shopped there. From a strictly marketing perspective, this word of mouth is an element of Select one: A. self-actualization. B. brand loyalty. C. brand extension. D. motivation. E. social marketing.

B. brand loyalty.

Through analysis of sales data, Price-Cutters retail store found that customers who bought peanut butter also tended to buy bananas. Price-Cutters was engaged in Select one: A. structured sampling. B. data mining. C. focus group analysis. D. syndicated surveying. E. behavioral analysis.

B. data mining.

Talbots, an upscale women's clothing store, targets college-educated women between 35 and 55 years old with average household income of $75,000 or more. This is a form of __________ segmentation. Select one: A. geographic B. demographic C. geodemographic D. psychographic E. benefit

B. demographic

If a firm wants to develop a sustainable competitive advantage, it should Select one: A. arrange to meet with competitors to discuss how to avoid direct competition. B. examine its operations and customer relations to identify significant things competitors cannot easily copy. C. begin an aggressive campaign to buy up competitors. D. increase its marketing budget so that it outspends its competitors. E. copy the innovative features of other firms that are attractive to customers.

B. examine its operations and customer relations to identify significant things competitors cannot easily copy

ABC Company knew that its customers were interested in environmentally friendly business practices, so it began marketing all of its products as environmentally friendly because they were made with all-natural ingredients, even though ABC's plant was one of the worst polluters in town. The new term for this practice is Select one: A. deceptive advertising. B. greenwashing. C. virtual greening. D. environmental exploitation. E. enviromarketing.

B. greenwashing.

Victor's custom auctioneering service provides online auction selling assistance. Victor plans to conduct marketing research to determine which auction site is best for his customers. His next step is to Select one: A. determine the statistical software he will use. B. identify the type of data he needs. C. outline the presentation format he will use. D. collect data. E. define his privacy policy.

B. identify the type of data he needs.

Carla has been directed by her regional marketing manager to cut prices on seasonal items, place an ad in the local paper, and tell distributors to reduce deliveries for the next month. Which step of the strategic marketing planning process is Carla engaged in? Select one: A. perform situation analysis B. implement marketing mix and resources C. define the business mission D. identify and evaluate opportunities E. evaluate performance

B. implement marketing mix and resources

During the __________ stage of the product life cycle, sales are low and profits are small or negative. Select one: A. decline B. introduction C. growth D. maturity E. leveling

B. introduction

Adrienne decides to add new sales representatives and increase advertising to increase sales in her existing market for her current line of security systems. Adrienne is pursuing a __________ growth strategy. Select one: A. diversification B. market penetration C. market development D. segment development E. product development

B. market penetration

Zappos is a successful online shoe company. One of the difficulties in running a shoe company is the need to have significant __________, a large number of items in each product line. Select one: A. brand equity B. product line depth C. product line breadth D. product mix breadth E. product mix depth

B. product line depth

A university using benefit segmentation and targeting students who want to get a degree quickly while still working full-time would most likely focus on Select one: A. discount pricing for students taking more than twelve credit hours. B. providing classes at convenient times and offering online courses. C. the great variety of classes offered. D. the number of Nobel Prize winners on the faculty. E. the higher average salaries earned by college graduates.

B. providing classes at convenient times and offering online courses.

VALS is the most widely used __________ segmentation tool. Select one: A. geodemographic B. psychographic C. benefits D. geographic E. behavioral

B. psychographic

Early personal computer users remember the cumbersome, user-unfriendly DOS system. When Apple introduced System 1 and Microsoft introduced Windows, both of which were much easier to use, these new products diffused rapidly because of their Select one: A. compatibility. B. relative advantage. C. associated services. D. trialability. E. observability.

B. relative advantage.

While demographic and geographic segmentation of retail customers are relatively easy, these characteristics do not help marketers determine Select one: A. which customers have young children. B. what their customers need. C. how old their customers are. D. what income brackets their customers are in. E. where their customers live.

B. what their customers need.

According to your text, the wealthiest 1 percent of the population control approximately what percentage of Americans' total net worth? Select one: A. 15.8 percent B. 51.9 percent C. 34.6 percent D. 26.9 percent E. 5.2 percent

C. 34.6 percent

What is neuromarketing? Select one: A. The analysis of consumer comments on social media in order to understand consumers' thoughts and opinions. B. The use of psychological principles to design marketing research studies. C. The use of EEG scanners to measure consumers' brain waves. D. The use of neural networks to perform data mining and develop marketing insights. E. The use of in-depth interviews to map detailed networks of information storage in the brain.

C. The use of EEG scanners to measure consumers' brain waves.

In the case of Band-Aid adhesive bandages, the brand name has Select one: A. successfully employed private-label branding. B. distinctive brand substitutability. C. become synonymous with the product itself. D. grown through private-label branding. E. avoided brand extensions.

C. become synonymous with the product itself.

Supermarkets collect information about individual customers through their use of loyalty cards and then analyze the data to look for patterns in purchases. This is an example of Select one: A. data entry. B. data analysis. C. data mining. D. data modeling. E. data recovery.

C. data mining.

Academic researchers often jump at the opportunity to conduct a research study, curious to learn more and address unanswered questions for the sake of general knowledge. Businesspeople tend to be more cautious before embarking on a marketing research study, recognizing that research is often Select one: A. of little use in real marketing situations. B. an academic exercise of little real value. C. expensive and time-consuming. D. an impediment to decisive management. E. beyond most managers' ability to comprehend.

C. expensive and time-consuming.

Yolanda is the new restaurant manager in a major hotel. When considering changes in the restaurant that will increase value to customers, Yolanda will likely attempt to either provide the same quality at a lower cost or Select one: A. reduce customer expectations through reduced service. B. lower the quality and the price. C. improve products and services at the same cost. D. offset higher hotel rates with lower restaurant prices. E. increase prices to increase revenue.

C. improve products and services at the same cost.

The knowledge retailers can gain from their store personnel and customer relationship management databases is valuable for developing Select one: A. omnichannel retailing. B. extreme value retailing efforts. C. increased customer loyalty. D. global private-label brands. E. supply chain relationships.

C. increased customer loyalty.

Consumers might not realize that Old Spice health and wellness products and Iams pet nutrition products are made by the same company—Procter & Gamble. Old Spice and Iams are known as Select one: A. traditional brands. B. family brands. C. individual brands. D. corporate brands. E. umbrella brands.

C. individual brands

Demographic segmentation is segmentation based on all of the following except Select one: A. education. B. gender. C. lifestyle. D. income. E. age.

C. lifestyle.

During the __________ era, manufacturers and retailers began to focus on what consumers wanted and needed before they designed, made, or attempted to sell their products. Select one: A. value-based marketing B. retailing-oriented C. market-oriented D. production-oriented E. sales-oriented

C. market-oriented

Internet sites, physical stores, and kiosks are most closely associated with which element of the marketing mix? Select one: A. promotion B. proximity C. place D. price E. product

C. place

After reviewing the existing data on seasonal spending by his company's customers, Marvin decided he needed to collect new information to address his research questions. Marvin will need __________ data to address the questions in his marketing research study. Select one: A. warehoused B. mined C. primary D. secondary E. syndicated

C. primary

The evolution of marketing progressed along the following continuum: Select one: A. value-based marketing, production, sales, marketing. B. sales, value-based marketing, marketing, production. C. production, sales, marketing, value-based marketing. D. sales, marketing, value-based marketing, production. E. marketing, value-based marketing, production, sales.

C. production, sales, marketing, value-based marketing.

The idea that a good product will sell itself is associated with the __________ era of marketing. Select one: A. sales-oriented B. market-oriented C. production-oriented D. value-based marketing E. retailing-oriented

C. production-oriented

Baby Boomers represent a huge demographic segment for travel marketers. Baby Boomers are also heavily motivated by self-fulfillment, which creates the possibility of __________ segmentation. Select one: A. behavioral B. benefit C. psychographic D. geographic E. self-concept

C. psychographic

After defining objectives and research needs, the next step in the marketing research process involves Select one: A. research evaluation. B. data analysis. C. research design. D. data collection. E. report writing.

C. research design.

One of the goals of value-based marketing is Select one: A. to determine the value of the brand. B. to provide the greatest value for the least profit. C. to offer greater value than competitors offer. D. to sell to all consumers, regardless of their needs. E. to sell products for the highest possible price.

C. to offer greater value than competitors offer.

When a salesperson calls you to sell a cemetery plot, this is most likely what type of product? Select one: A. shopping product B. secondary product C. unsought product D. line extension E. convenience product

C. unsought product