Marketing questions

Which of the following is the single most important actor in the microenvironment?

Customers

Which of the following companies has a product-oriented business definition?

"We manufacture affordable and long-lasting shoes for all."

Which of the following customer questions is answered by a company's value proposition?

"Why should I buy your brand rather than a competitor's?'

Marketers must increasingly consider the special needs of traditional households because this segment of the population is growing more rapidly than nontraditional households

False

On the BCG matrix, "question marks" are high-growth, high-share businesses or products

False

When backed by buying power, needs become want

False

Redrunners inc., a manufacturer of sports merchandise, is gathering customer opinions about the firm's new sports shoe line. A team of researchers in the company invited eight regular customers to talk about the new line of shoes, asking why they chose to buy the shoes and what they disliked about its design. A moderator was present to facilitate the discussion. Which type of research is Redrunner conducting?

Focus group

Which of the following generations is the most educated to date?

Generation X

Which consumer group tends to show more brand loyalty and makes shopping a family event, with children having a big say in the purchase decision?

Hispanic Americans

Donna wants to buy a new coat. During the ____ stage of the buyer decision process, she will ask her friends to recommend stores that sell good quality winter wear clothing. She will also go online to look out for offers in sales on coats.

Information research

Which of the following statements is true of the selling concept?

It is typically practiced with unsought goods.

Which of the following statements is true of the production concept?

It leads to companies focusing too narrowly on their own operations

Pierre's Mart, a grocery store in New Orleans, Louisiana, offers less merchandise selection and fairly low levels of service. Despite the lackluster service and limited selection of merchandise, customers still flock to Pierres Mart because it charges rock-bottom prices. Pierre's Mart most likely uses the _____ positioning

Less for much less

Which of the following has been used to explain why lower income consumers are more likely to buy expensive products, national brands when they go grocery shopping (e.g. buying Tylenol vs. generic painkillers)?

Lower income consumers want to compensate for lacking status

Reference group influence tends to be strongest for ...

Luxury products

Which of the following is not apart of the company's macroenvironment

Competitors

Informational social influence, otherwise known as social proof, tens to be strongest when:

Acceptable types of behavior is unclear

By 2050, ________ will be an estimated 15 percent of the U.S. population.

African Americans

________ consumers are the most affluent U.S. demographic segment and are expected to have an annual buying power approaching $1 billion by 2017

Asian Americans

... are groups to which an individual wishes to belong, as when a young basketball player hopes to play someday in the NBA or WNBA.

Aspirational groups

Mission statements should ____ and be defined in terms of ____

Be market oriented; satisfy basic customer needs

Pat thought he had received the best deal on his new car. Shortly after the purchase, Pat began to notice certain disadvantages of his near car as he learned more about benefits that he's losing out on with other cars. Pat was experiencing _______

Cognitive dissonance

________ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment

Competitive marketing intelligence

Greg Williams now has the buying power to purchase the desktop computer that he has wanted for the last 6 months. Greg wants now have become a ______

Demand

The marketing team of 7 starINc. A company manufacturing smartphones is currently studying the size, density, location, age, and occupation of its target market. Which of the following environments is being studies in this scenario

Demographic

Delta Motorworks markets its cars based on the age, gender, and income o fits customers. Which of the following tyoes of market segmentation is evident here?

Demographic segmentation

Estimating the proportion of people who behave a certain way as one of the primary goals of ____ research

Descriptive

________ segments are conceptually distinguishable and respond differently to different marketing mix elements and programs

Differentiable

Which is not one of the major variables used in segmenting consumer markets?

Ethical

A company sent a trained observer to watch and interact with consumers in their natural environments in order to gain deeper insights on consumer needs. This is an example of

Ethnographic research

________ is the act of obtaining a desired object from someone by offering something in return

Exchange

Kinger Burgers came out with a new hamburger and, before including it on its main menu, released it in two different cities with two different prices. The marketers at King Burgers then analyzed the different levels of purchase made at these two different places, planning to use the information to help them set a nationwide price for the new offering. This is an example of ....

Experimental research

Lark Inc., an American electronics company is currently reviewing new, geographical markets to sell its existing highly popular televisions. By 2020 plans to open new stores across all major south Asian cities. Lark is most likely following a _____ strategy.

Market development

Which of the following is NOT an accurate description of modern marketing?

Marketing emphasizes selling and advertising exclusively

Which of the following is true with regard to marketing research?

Marketing research gives marketers insights into customer motivations

According to the service profit chain, superior internal service quality results in _____

More satisfied, loyal, and hardworking employees

Which of the following is true about multivariable segmentation systems?

Multiple segmentation bases help identify smaller, better-defined target groups.

Which of the following is the most likely result of a marketing strategy that assumes that everyone is the same and can be a potential customer? In other words, this marketing strategy focuses on common needs and ignores the fact that different consumers have different needs.

Not all customers will be satisfied

Malcome Sanders, a graduate student from Boston, makes customized snowboards for local snowboarding enthusiasts. The demand for snowboard peaks during the winter months, a busy time for Malcome. He advertises more aggressively and sells most of his snowboards around this time of year. Which market segmentation approach does Malcome most likely use?

Occasion segmenting

_______ is the process by which people select, organize, and interpret information to form a meaningful picture of the world.

Perception

Alex Smith rents storage space to college students who go home for teh summer but do not want to haul all of their property home and back. The business is profitable during the summer, but when storage space is occupied in the off season. Alex loses money. Which characteristics of service are most likely the source of Alex's problem?

Perishability

To busy multitaskers who need help remembering things. Evernote is a digital content management application that makes it easy to capture and remember moments and ideas from your everyday life using your computer phone tablet on the web. This is an example of a(n) ....

Positioning statement

BlueFin canned tuna has higher sales than its unbranded rival, even though the unbranded tuna costs $0.45 less per can than BlueFin tuna, BlueFin most likely has_____

Positive brand equity

Katrina Mendoza is a senior manager in a manufacturing firm that hires lobbyists to influence legislation that affects the manufacturing industry. Katrina's firm takes a(n) _________ stance toward the marketing environment.

Proactive

Suppose an electric company operated under the assumption that consumers wanted USB drives that would offer the most in quality, performance, and innovative features. This company overlooked the face that there could be other data storage solutions. This reflects the _______ concept.

Product

Chronos Inc., designs and markets different brands of cycling watches. Each brand has a single unique feature, the Chronos Cosmos has a heart rate monitor, the Chronos Acumen has a GPS function. Which of the following is evident here?

Product differentiation

When demand for athletic shoes, produced by Nike and endorsed by Michael Jordan is high, Nike intentionally limits how many pairs of shoes are manufactured even though the company is capable of making the product widely available. Such an action maintains strong demand by limiting supply. This decision contradicts the philosophy of which marketing management concept?

Production concept

Companies that define their mission in terms of products or technologies are considered myopic primarily because

Products and technologies eventually become outdated

Which of the following actions is a restaurant owner most likely to take in order to reduce problems associated with service intangibility?

Provide clean tablecloths and fresh napkins for each new customer

An american cola manufacturing company that primarily target rebellious and adventurous people most likely uses ______ segmentation

Psychographic

________ segmentation divides buyers into different segments based on social class, lifestyle, or personality characteristics.

Psychographic

The pharmaceuticals division of omni healthcare holds low market share in an attractive faster growing market. According to the BCG matrix, what can this be classified as a ....

Question mark

According to the Boston Consulting Group approach, ____ serves as a measure of company stretch in the market.

Relative market share

Which of the following statements is true regarding social classes?

Social classes show distinct product preferences in clothing and automobiles

Some fast food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to the national obesity epidemic and environmental problems. These fast-food restaurants overlook the ______ philosophy

Societal marketing concept

The boom in Internet marketing has created a new set of social and ethical issues. Critics worry most about ....

online privacy issues

Which of the following is true with regard to strategic planning?

Strategic planning involves developing and maintaining fit between the company's goals and the changing marketing environment

Which of the following is not a form of mechanical data collection?

Survey

Which of the following is most likely an advantage of survey research

The flexibility of survey research is high; it can be used to obtain many different kinds of information in many different situations

Which of the following is true with regard to strategic planning?

The focus of strategic planning is to define a game plan for long-run survival and growth

Which of the following is true of the baby boomers?

They control an estimated 70 percent of the United States' disposable income.

A defining characteristic of nonprobability samples is that...

They involve personal judgement in the element selection process

Many firms today use RFID technology to ....

Track products through various points in the distribution channel

A man weighs 200 Ibs. He steps on a scale five times and receives the following weights: 160, 190, 200, 155, 200. This scale is:

Valid, but not reliable

Carrie tends to purchase various brands of bath soap, a product category characterized by relatively low involvement but significant perceived brand differences. She has never been loyal to a specific brand and does a lot of brand switching to try something different not because she is necessarily dissatisfied. Carrie exhibits

Variety-seeking buying behavior

_______ are human needs that are shaped by culture and individual personality

Wants

according to the brain drain hypothesis that we discussed in class, which of the following can result from smartphone usage

Working memory capacity decreases

Which of the following are Americans not consuming and using as much of anymore?

Yogurt

In the context of the AIO dimensions for measuring consumers' lifestyles, "A" stands for

activities

A segment is less attractive if it...

already contains many strong and aggressive competitors

During portfolio analysis, a company ________ after identifying the key businesses that make up the company.

assesses the attractiveness of its various SBUs

Marketing control involves four steps including all the following EXCEPT ________

increasing the staffing in the planning department

Calypso Motors recently rolled out its Proteus hatchback. Proteus combines the attractiveness of a luxury car with the excellent agility of a sports car. Calypso Motors is confident that Proteus will appeal to both sports car enthusiasts as well as the luxury segment. Which of the following types of market segmentation is evident here?

benefit segmentation

According to the five-step model of the marketing process, which of the following is the final step in creating value for customers?

building profitable relationships and creating customer delight

Many marketers use the self-concept premise that people's possessions contribute to and reflect their identities—that is, "we are what we consume." According to this premise, consumers ________.

buy products to support their self-image

According to the model of buyer behavior, which of the following is one of the two primary parts of a "buyer's black box"?

buyer's decision process

Companies that use brand ambassadors are most likely involved in ________ marketing

buzz

A regional supermarket chain runs print, radio, and television advertisements announcing that 1 percent of its sales is donated to local after-school programs for underprivileged youth. This is an example of ....

cause-related marketing

Harvey's Bookstore is a popular online bookstore that has differentiated itself through smooth-functioning delivery networks. This is an example of ________ differentiation

channel

Which of the following refers to a probability sample in which the population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview?

cluster sample

George is buying his first house. He has spent a month looking at houses and comparing attributes such as price and location. He has contacted several real estate agents to look at different types of houses. George is most likely exhibiting...

complex buying behavior

Sanguine Services is a small company that uses a marketing strategy in which its limited resources are employed to target a large share of two small market segments. Sanguine most likely uses which of the following marketing strategies?

concentrated marketing

20) Price & Malone Corp., a company based in Houston, caters to a market of individuals and households that buy goods and services for personal consumption. Price & Malone caters to a ________ market.

consumer

The economic environment consists of economic factors that affect ....

consumer purchasing power

Kao Corp., a deodorant manufacturer, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of .....

consumer-generated marketing

"Losing a customer once means losing the entire stream of possible purchases that the customer would make over an extended period of patronage." This statement specifically indicates loss in terms of .....

customer lifetime value

FedEx offers its customers fast and reliable package delivery. When FedEx customers weigh these benefits against the monetary cost of using FedEx along with other costs of using the service, they are acting upon....

customer perceived value

Sally recently purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations about Brand X lotion, Sally was measuring her level of ....

customer satisfaction

Greg Williams now has the buying power to purchase the desktop computer that he has wanted for the last six months. Greg's want now has become a(n) ________

demand

When backed by buying power, wants become ________

demands

The marketing team of 7 Star Inc., a company manufacturing smartphones, is currently studying the size, density, location, age, and occupation of its target market. Which of the following environments is being studied in this scenario?

demographic environment

For the past ten years, Bill and Margaret have saved money to go to the Super Bowl should their team, the Chicago Bears, reach the finals of the NFC championship. This is the year, and several tour companies offer attractive but very similar packages to the game. Since all packages are pretty much the same and quite expensive, they have chosen one that fits their budget. Bill and Margaret are most likely exhibiting....

dissonance-reducing buying behavior

For the past ten years, Bill and Margaret have saved money to go to the Super Bowl should their team, the Chicago Bears, reach the finals of the NFC championship. This is the year, and several tour companies offer attractive, but very similar, packages to the game. Since all packages are pretty much the same, they have chosen one that fits their budget. Bill and Margaret are most likely exhibiting ....

dissonance-reducing buying behavior

Market segmentation can be best described as the process of .....

dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate marketing programs

While looking for ideas on how to craft a user-friendly dishwasher, the designers of a dishwasher-manufacturing company spent 10 days observing people as they used their dishwashers in their homes. In this instance, the designers were conducting a(n) ....

ethnographic research

Robert has taken up cycling as a hobby and as a way to maintain his physical fitness. He wants to buy a hydration system since he will need much water as he cycles. Having gathered a great deal of information, he has finally narrowed down his choices to three systems: Waterbags for Roadies, Supertanker Hydropacks, and Fast Water. Robert is in the ___________ stage of the buyer decision process.

evaluation of alternatives

Juanita Petino, a nutritionist, decided to test the effects of cereal brands Kinglo and Loopy on consumer happiness. For the purpose of her study, she randomly assigned volunteers into two groups and asked the members of one group to have Kinglo cereal and the members of the other group to have Loopy cereal for breakfast. She then compared happiness ratings between the two groups. In this instance, Juanita is using...

experimental research

In ________ research, the objective is to gather preliminary information that will help define the problem and suggest hypotheses

exploratory

In _____________ research, the objective is to gather preliminary information that will help define the problem and suggest hypotheses.

exploratory

When marketers set low expectations for a market offering, they run the risk of ________

failing to attract enough customers

Marketers should understand that people's core beliefs and values tend to be....

fixed

Which of the following is the aim of the product concept?

focus on making continuous product improvements

The environmental sustainability movement encourages companies to ....

go beyond government regulations

The so-called green movement encourages companies to ....

go beyond government regulations

Which of the following consumer buying behaviors is related to conditions of low-consumer involvement and little significant brand difference?

habitual buying behavior

To overcome problems in focus group interviewing, some companies employ small groups of consumers who interact directly and informally with product designers without a focus group moderator present. Such groups are known as ________

immersion groups

91) After a research instrument is selected, the next step in the marketing research process is to....

implement the research plan

Which of the following situations is expected to enhance the use of targeted advertising messages by marketers?

increase in ethnic populations

Kei, a senior marketing manager of a pizzeria in North Florida, is currently researching electronic collections of consumers information within the company network to arrive at crucial marketing decisions. In this instance, Kei is using ....

internal database

Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________

internal value chain

A current trend in the United States involves rediscovering the benefits of home-cooked food and the use of organic ingredients. People are choosing to spend hours in the kitchen using only the freshest ingredients to cook healthy and nutritious meals. This change is one of the reasons for the increasing demand for organic ingredients.

lifestyle

In the marketing mix, place includes ________

logistics

Maria Ramirez is conducting research to determine consumers' personal grooming habits. Because of the personal nature of many of the survey questions, Maria wants to select the contact method that is most likely to encourage respondents to answer honestly and that will allow her to easily collect large amounts of data. Which of the following is best suited to meet Maria's requirements?

mail questionnaires

According to management guru Peter Drucker, "The aim of marketing is to ________."

make selling unnecessary

A(n) ________ is the set of actual and potential buyers of a product or service

market

FencePro, a local company, has developed an entirely new mounting system for chain link fences. After acquiring a distributor, FencePro now has the ability to market its products nationwide. FencePro is most likely following a ________ strategy.

market development

According to the Boston Consulting Group approach, __________ provides a measure of market attractiveness.

market growth rate

16) Seagull Terrace offers its customers good accommodations, local delicacies, and amazing seaside views. The overall experience provided at the motel is a part of its ________

market offering

Market segmentation can be best described as the process of _______

market segment

An organic farmer has identified three distinct groups that might be interested in his products: vegetarians, health-conscious individuals, and people identified as trendsetters who try out new products in the market before others. These three groups are examples of ....

market segments

Consumer research, product development, communication, distribution, pricing, and service are all core ________ activities

marketing

Which of the following terms refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs?

marketing myopia

Orion Inc. operates in many industries, including pharmaceuticals and food products. The company's overarching goal is to create "abundant and affordable food for all and a healthy environment." This represents Orion's ....

mission statement

With the recent explosion of information technologies....

most marketing managers are overloaded with data and often overwhelmed by it

An invitation to go skiing over the weekend forced Donna to look at her current wardrobe. She realized that she required a warmer coat. Which of the following stages of the buyer decision process does Donna exemplify?

need recognition

Rachel loves fashion and is always seen wearing the trendiest fashion outfits. She actively shares her knowledge with a wide group of friends and colleagues about where to shop for the latest fashion at great deals. Most of her friends and colleagues follow her fashion tips. Rachel portrays the image of a(n) .....

opinion leader

In a SWOT analysis, ________ include favorable trends in the external environment.

opportunities

In the famous case in the 1980's, Coca-Cola introduced New Coke after conductung extensive research. The failure of New Coke was largely due to....

poor definition of the research problem

Alpha Motors offers "Green automobiles for a greener world." This refers to the ________ of Alpha automobiles.

position

Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ....

positioning

Marketing stimuli include which of the following?

price stimuli

Railroads were once operated based on the thinking that users wanted trains that would offer the most in quality, performance, and innovative features. The railroad managing companies overlooked the fact that there could be other modes of transportation. This reflects the ___________ concept.

product

Which of the following marketing management concepts is most likely to lead to marketing myopia?

product concept

Chronos Inc. designs and markets different brands of cycling watches. Each brand has a single unique feature: the Chronos Cosmos has a heart rate monitor, the Chronos Acumen is designed for older cyclists who prefer a large display, and the Chronos Aegis has a GPS function. Which of the following is evident here?

product differentiation

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

production

Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain?

production concept

Customer satisfaction is a goal that companies strive to earn. Companies can achieve customer delight by ....

promising only what they can deliver and then delivering more than they promise

In collecting primary data, marketing researchers have a choice of two main research instruments....

questionnaires and p devices

While Jenkins Stationeries was selling branded stationery at premium prices, Pembroke Stationeries, a store across the street, was selling the same branded stationery at discount prices. Which of the following value propositions best describes Pembroke's product positioning?

same for less

A recent study conducted by Estelle Cosmetics Company showed tha heavy users of Estelle's products compromise a small percentage of the market. The study indicated that less that 7 percent of all shoppers buy nearly 71 percent of Estelle's products in the U.S. This is an example of ....

segmentation by usage rate

Mark has long supported a particular brand of footwear and has always bought that brand. Recently, the footwear manufacturer was embroiled in a controversy for using child labor at its manufacturing plants. Mark doubts the news reports and continues to purchase the same brand of footwear. It is most accurate to say that Mark displays ....

selective distortion

Your state's Department of Education has budgeted a significant amount of money for a radio, print, television, and online advertising campaign emphasizing the long-term benefits, both educationally and professionally, of reading every day. This is an example of a(n) ___________ campaign.

social marketing

Cathy's Clothes is a small yet successful retail chain that sells women's clothing and accessories with a focus on buyers who have relatively modest means. For this specific purpose, the firm has rolled out several marketing initiatives aimed at women of a specific demographic. This is an example of .....

target marketing

the objective of causal research is to .....

test hypotheses about cause-and-effect relationships

Validity is...

the degree to which a measure is measuring what it is supposed to measure

Which of the following is a trend that depicts the increasingly nontraditional nature of today's American families?

the low percentage of married couples with children

Which of the following demographic trends is the most likely cause for a rapid increase in telecommuting?

the migration toward micropolitan and suburban areas

Customer equity refers to ....

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

According to the five-step model of the marketing process, a company should ________ before designing a customer-driven marketing strategy

understand the marketplace and customer needs and wants

ex Steelworks makes steel sheets which the firm markets and sells to companies all over the world. Which of the following marketing strategies is most suitable for Rex Steelworks?

undifferentiated marketing

Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through ....

value creation and exchange

Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through _______

value creation and exchange

Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?

value proposition

Companies can research many aspects of buying decisions. However, the one that marketers typically struggle with the most is learning...

why consumers buy