Marketing Quizzes
In the consumer behavior process, problem recognition is caused by:
A. A disrepancy between internal sources and external sources of information B. A discrepancy between information search and evaluation of criteria C. A discrepancy between post-purchase evaluation and consumption D. Using the multi-attribute attitude model E. A discrepancy between a person's current state and desired state (correct)
To establish successful long-term brands and businesses, marketing managers must abide by ethical and socially responsible standards. This is particularly important in the current marketing environment because today's consumers:
A. Are forced to filter through mountains of information B. Reject big business C. Want a diversified portfolio D. Demand transparency and honesty (correct) E. Face pressure from multiple competitors
"How do I come up with a killer product idea?"
A. Ask customers what they want B. Ask, "How much money can I make?" C. Ask, "What are the competitive offerings?" D. Ask, "What problems are people trying to solve." (correct) E. Ask, "Which distribution channels offer the most cost effective solution?"
In the buying center for business-to-business purchase decisions, participants assume one or more roles--buyer, influencer, decider, gatekeeper, and user. Which role controls the flow of information between the selling firm and the buying firm?
A. Buyer B. Influencer C. Decider D. Gatekeeper (correct) E. User
The overall attractiveness of a foreign market depends on the risks and rewards of conducting business in the country of interest. Demonstrations, strikes, civil strife, abrupt government changes, violence, and terrorism in a number of countries has caused some U.S. companies to avoid certain foreign markets because of the ____________ risk.
A. Competitive B. Economic C. Political D. Legal E. International
Most marketing research projects center around two types of information--exploratory and conclusive. ____________ research enables managers to look for cause-and-effect relationships, such as the impact of a sales promotion on product purchases. ______________ research helps marketing managers obtain overall impressions of the marketing environment, identifies problems or opportunities, informs marketing priorities, and formulates alternative ideas for moving forward.
A. Conclusive, exploratory (correct) B. Exploratory, Conclusive C. Open-ended, focused D. Convenience, Competitive E. Dichotomous, united F. United, dichotomous
For marketers, the three components of sustainabilty are:
A. Consumers' wants, the company's requirements, and society's long-term (correct) B. Supporting the firm's mission, objectives, and strategy C. Growing the business in spite of social, economic, and competitive forces D. EPA, OSHA, and FTC certifications E. Sustaining leaders, co-workers, and subordinates
Marketing hypotheses are direct statements of beliefs that can be tested with statistics. For example, McDonald's marketing managers may hypothesize that offering all-day breakfast will increase overall sales and profitability. Hypothesis testing:
A. Creates competing null hypotheses for testing. B. Is useful only when exploring consumer products (like McDonald's), not business products (like Boeing). C. Is less relevant than non-hypothesis testing. D. Makes research more conclusive and gives organization more confidence when acting on research recommendations. (correct) E. None of the above
General Mills produces more than 25 varieties of ready-to-eat breakfast cereals, including Cheerios, Lucky Charms, Wheaties, and Cinnamon Toast Crunch. Suppose a retail store offers to stock ten of General Mills cereal products in each store across the country. Which marketing research technique would you recommend General Mills use to determine the optimal variety of cereals to stock in each store?
A. Cross tabs B. Analysis of variance C. Conjoint analysis D. Regression analysis E. TURF analysis (correct)
Malee is a marketing manager for a new line of Thai food. The company wants to launch this new line in Scandinavia--Denmark, Norway, Sweden, Finland, and Iceland. Malee knows that social forces affect consumers' attitudes, beliefs, lifestyle, and ultimately consumption behavior. Which social force has the most influence on Malee's new product line--affecting what people eat?
A. Culture B. Demographic C. Generational cohorts D. Regulatory E. Economic
Although marketing analytics are used to answer a variety of managerial questions, Chief Marketing Officers (CMO) claim the biggest applications for marketing analytics are:
A. Customer acquisition and retention (correct) B. Market segmentation and targeting C. Promotion and pricing D. Product and brand E. All of the above
In 2011, Unilever launched the Magnum ice cream brand in the United States and Canada. The launching decision was based on careful examination of market attractiveness criteria. What are the criteria for evaluating the attractiveness of particular foreign markets?
A. Customer needs B. Customer purchasing power C. Market size D. Market growth rate E. Market access F. A and B above G. C, D, and E above H. All of the above
For Big Data analytics, the process of cleaning, unifying, and preparing unstructured data for easy access and analysis is called:
A. Data wrangling (or data munging) (correct) B. Data exploration C. Data modeling D. Deployment and socialization E. All of the above
Procter & Gamble (the maker of Bounty, Crest, and Tide) was the first company to focus attention on winning the first moment of truth--the first three to seven seconds it takes shoppers to make up their minds about considering, comparing, and/or selecting a product from the retailer's shelves. To do this, Procter & Gamble marketing managers focus on:
A. Discount stores B. Intensive distribution C. Big box stores D. CPM--cost per thousand impressions E. In-store advertising and packaging (correct)
Marketers are expected to embrace the highest professional ethical norms and ethical values. Accordingly, the American Marketing Association stresses the following norms:
A. Do no harm B. Foster Trust in the marketing system C. Embrace ethical values D. A and C above E. B and C above F. All of the above (correct) G. None of the above
Axel, a research analyst for LEGO, has been gathering information about age, gender, and income for Southeast Asia, particularly Indonesia, Thailand, Singapore, Malaysia and Philippines. Axel is gathering _________ data:
A. Economic B. Psychographic C. Generational cohort D. Demographic E. Political preference
Sampling error is the probability that differences in averages or percentages are due to the random chance of drawing a bad sample rather than some real differences. Market researchers can minimize sampling error by:
A. Eliminating misleading questions B. Conducting focus group interviews C. Using personal interviews D. Focusing on content validity E. Increasing the sample size (correct)
Entrepreneurs face a David and Goliath competitive landscape. To have a fighting chance, entrepreneurs need to:
A. Embrace constraints and find a unique way to compete (correct) B. Copy a market follower for a safe position in the marketEmbrace constraints and find a unique way to compete C. Copy the market leader's strategy D. Find more resources to compete with the market leader E. Match the strategy of the closest competitor
Which global market entry strategy has the lowest risk and also the lowest return?
A. Exporting B. Licensing C. Joint Venture D. Foreign Direct Investment E. Multi-cultural
Measuring the WOW Factor is a useful approach for testing new ideas. The Six Thinking Hats framework provides a useful process for drilling down on the WOW Factor. In this framework, the Green Hat represents:
A. Facts about the new idea B. Emotional, gut reaction to the new idea C. Perceived benefits or positive support for the new idea D. Perceived shortcomings or concerns with the new idea E. Ideas for improving the new idea (correct) F. A summary of the process and lessons learned
Startups must find ways to accelerate time-to-money. A bottom-up mindset:
A. Focuses on making the most of what the company has B. Goes where the money is C. Quickly pivots the competitive angle in a way that makes competitors irrelevant D. Transforms a winning marketing tactic into a long-term successful business strategy E. Two of the above F. All of the above (correct)
Brita GmbH, a German manufacturer of water filters, agreed to sell the right to manufacture and market products under the Brita name in the United States to The Clorox Company. To do this, Brita GmbH entered into a(n) _________ agreement with The Clorox Company.
A. Foreign Direct Investment B. Exporting C. Joint Venture D. Licensing E. Optimization
In the United States, people born during the same time period and who share similar life experiences are referred to as:
A. Geographics B. Psychographics C. Generational cohorts D. Economics E. Culture
Malibu Boats, specialize in the production and marketing of recreational water sports boats, primarily for wake boarding and wake surfing. What type of income is used to purchase expensive boats and accessories offered by Malibu Boats?
A. Gross income B. Disposable income C. Discretionary income D. Total income E. Benchmarking income
The Hershey Company is one of the largest chocolate manufacturers in the world. The company markets a number of chocolate packaged candies, such as Hershey's Chocolate Bar, Almond Joy, Mounds, Reese's Peanut Butter Cups, and Kit Kat. These convenience products are generally good candidates for:
A. Intensive distribution (correct) B. Selective distribution C. Exclusive distribution D. Competitive distribution E. Dual distribution
Upon graduation, Donovan decides to use part of his signing bonus to put a down payment on a new compact SUV. Donovan spends significant time and effort evaluating four different brands--Nissan Rogue, Jeep Compass, Ford Escape, and Toyota RAV4. In his evaluation, he considers potential financial, social, and physical risks. For Donovan, purchasing a new compact SUV is what type of purchase decision?
A. Low involvement B. High involvement (correct) C. Medium involvement D. General involvement E. Confirmatory involvement
Marketing channels enable companies to create value for their chosen customers through four utilities: time, place, form, and possession. Marketers increase place utility for their customers by:
A. Making the product available at a convenient time B. Making the product available at a convenient location (correct) C. Making the product available in the form consumers want D. Making products a low costs E. Transferring the product ownership to the customer
Lying about product benefits is illegal. Government agencies protect consumers from firms making false statements. Further, the free market (or the invisible hand of consumer feedback) in today's digital and social media world may be the best protection of all. Which myth of unethical marketing do these actions counter?
A. Marketers push products consumers don't want to buy B. Consumers are no match for the power of marketing C. Marketing is deceptive, not truthful and honest (correct) D. Marketers believe in planned obsolescence E. Marketers believe a sustainability strategy does not maximize shareholder wealth
The American Marketing Association definition of marketing includes:
A. Marketing is exchange that takes place between sellers and buyers. B. Marketing creates, communicates, and delivers value. C. Marketing satisfies customer needs and wants at a profit. D. A and B above E. All of the above (correct)
Suppose your manager at Netflix provides you with a data set of survey responses from content platform users and asks you to identify market segments based on the data. Which analytical method is most useful for this research project--classifying content platform users into various segments based on how they respond to demographic and behavioral questions?
A. MaxDiff analysis B. Conjoint analysis C. Cluster analysis (correct) D. Factor Analysis E. TURF analysis
Marketing research provides insights into consumer behavior--what consumers want, the hurdles that keep them from getting what they want, and what the organization can do to get consumers over these hurdles. The ultimate goal of marketing research is to:
A. Organize Big Data into structured and unstructured data sets B. Minimize information costs C. Make good marketing decisions. (correct) D. Maximize one or more elements of the marketing mix E. Create a SWOT analysis
A marketing insight is a deep understanding of consumer attitudes and beliefs that has power to shape consumer behavior. Marketing insights have limitations, however, because:
A. People often make different choices based on different situations B. People seek high involvement products using routine problem solving C. People are not all the same D. Both A and C are correct (correct) E. Both A and B are correct
Kirsten is under a lot of stress at home. She needs money to pay off several credit cards and medical bills. She is convinced that she will pay back any embezzled money quickly. According to the fraud triangle, which aspect is missing from this potentially unethical situation?
A. Pressure B. Dishonesty C. Rationalization D. Opportunity (correct) E. Money
Channel members can provide added-value activities for customers such as inventory management, promotion, payment terms, credit, delivery, installation, training, technical support, repair, consulting, and warranty. For example, IBM trains salespeople in the financial services sector to become experts in particular areas of finance. IBM's added-value, in the form of consulting activities for finance customers, is an example of:
A. Product benefits B. Service benefits (correct) C. Image benefits D. Enhancing product E. Non-price costs
The decisions marketing managers make regarding the marketing budget and profitability revolve around the marketing mix which includes:
A. Product, price, profit, promotion B. Product, price, promotion, place (correct) C. Positioning, performance, potential, profitability D. Price, place, people, promotion E. Place, potential, product, performance
For every pair of Toms shoes purchased, the company donates a pair of shoes to a child in need. Which marketing philosophy does Toms use?
A. Production B. Sales C. Market D. Societal (correct) E. Company
The path to profitability starts with:
A. Reducing price for disadvataged customers B. Executing clever advertising campaigns using digital media C. Understanding customers within the context of the marketing environment (correct) D. Developing distribution channels to reach a variety of customers E. Benchmarking and then copying successful competitors
IKEA (one of the great stores in the world) consciously designs retail space to orchestrate various dimension of the store—layout, color, sounds, and signage—to appeal to consumers' emotions and encourage buying. This is called:
A. Sales promotions B. Wheel of retailing C. Atmospherics (correct) D. Retail control E. Location
Studies conducted by market research companies Yankelovich and Media Dynamics suggest that consumers are exposed to 2,500 to 5,000 advertising messages (stimuli) a day. Yet, they notice only 12-20. The process consumers use to notice and pay attention to stimuli that are immediately useful and screen out stimuli perceived as less useful is:
A. Selective attention (correct) B. Selective distortion C. Selective retention D. Selective assorting E. Subliminal processing
The popularity of the iPhone makes possible the success of iPhone apps, shields, and headphones. This is an example of finding new ideas by:
A. Solving everyday pain B. Riding a wave of interest (correct) C. Stretching or entertaining an idea to the extreme D. Cool hunting in foreign markets E. Build on a core product
Coca-Cola soft drink produced in Mexico is believed to taste sweeter than Coca-Cola soft drink made in the United States. Ice cream flavored Pepsi is sold only in Russia. McDonald's offers red bean ice cream and green tea in China, but not int the United States. These are an example of:
A. Standardization B. Commoditization C. Realization D. Humanization E. Customization
Skullcandy, a $300 million headphones and audio accessories business located in Park City, Utah, recognized a growing trend in the purchase and use of digital audio devices--MP3 players. The company created a unique line of headphones, earbuds, and docks to capitalize on this growing business. This is an example of which part of the SWOT analysis?
A. Strength B. Weakness C. Opportunity D. Threat E. Option
Everyone uses hangers. They have been around for more than 100 years. Joy Mangano thought about how many hangers people use and asked how she could make one better. Her solution is Huggable Hangers, a no-slip, color-coded, space-saving, velvet-flocked hangar. Joy found this idea by:
A. Stretching or entertaining an idea to the extreme B. Cool hunting in foreign markets C. Solving everyday pain D. Riding a wave of interest E. Building on a core product (correct)
Elise's brand management team, at Raising Cane's Chicken Fingers, is seeking to identify data related to human behavior in order to identify consumer insights for the fast-food restaurant. What is a consumer insight?
A. The means by which consumers seek unsought goods and services B. The ability to obtain inside trading information from the consumer C. The process of understanding how consumers view past marketing campaigns D. The capacity to gain an accurate and deep intuitive understanding of a consumer (correct) E. The method of grouping consumers into relatively homogeneous subgroups.
Structured data and unstructured data are two types of Big Data. Structured data come in defined, organized format that is readily accessible and relatively easy to extract information, Conversely, unstructured data are available in an amorphous format, requiring some sort of treatment to make the data useable. Example(s) of unstructured data include:
A. Written reviews--free form B. Text messages C. Surveillance video D. YouTube video E. All of the above (correct)
To the buyer, price represents the money paid, or the economic sacrifice, to acquire the product. To the seller, price is the money received, or the revenue. Buyers have incentive to purchase and sellers have incentive to sell when the price is:
A. Above the seller's cost of goods sold B. Above the buyer's perceived value C. Below the seller's cost of goods sold D. Below the buyer's perceived value E. Both B and C are correct F. Both A and D are correct (CORRECT) G. All of the above are correct
Burton (snowboarding company) will launch the newest Step On bindings on October 18, 2021. "Ditch the straps and get right to riding with fresh colors and styles." Local retailers anticipate the launch of the newest Step On bindings with great excitement because they believe the segment is large enough to deliver profits. Which characteristic of effective segmentation is illustrated with this example?
A. Accessible B. Durable C. Measurable D. Substantial (correct) E. Unique needs
Extensive, data-driven research demonstrates that the primary determinants of B2B salesperson performance are:
A. Appearance, appreciation, promotion, product B. Assertiveness, charisma, charm, company C. Role perceptions, skills, motivation, and aptitude (correct) D. Quotas, competition, compensation, budets E. All of the above
Advertising seeks to achieve one or more objectives--cognitive, affective, and behavioral. The behavioral objective seeks to:
A. Build awareness B. Gain interest C. Gain liking D. Stimulate action (CORRECT) E. Both B and C are correct
Research suggests that satisfied frontline employees lead to satisfied customers. Nurses represent the frontline in health care. The working situation for nurses may affect job satisfaction. Indeed, a recent study of medicare reimbursements found much higher job dissatisfaction and burnout among nurses who were:
A. Caring for patients in hospitals and nursing homes (correct) B. Working in the public sector C. Assigned to K-12 schools D. Older than 45 years old E. Working in rural areas
Suppose you are a sales manager for Qualtrics. One of your salespeople is struggling with the presentation step of the sales process. As you coach this salesperson, you begin by explaining that the purpose of the "presentation" step of the sales process is to:
A. Close the sale. B. Qualify the buyer. C. Gather data on the customer. D. Create entertaining PowerPoint slides to engage the customer. E. Match the benefits of your product offering to the customer's needs. (correct)
Why dosen't "me too" positioning work as a value positioning strategy?
A. Competitors are just too difficult to copy B. The positioning approach does not give consumers a reason to change (correct) C. Competitors may have lower cost structures D. Imitation is the sincerest form of flattery E. Customers want consistency among competitors
In order for a sales team to achieve the full potential, modern day sales organizations assign specialized roles to increase efficiency and production of their sales teams. For example, ________________________ are farmers, with the sole responsibility of increasing customer loyalty and retention through additional services so that customers continue to use and expand a firm's product and service offerings.
A. Customer Success or Client Development Reps (CORRECT) B. Sales Development Reps (SDRs) C. Account Executives (AEs) D. Market Response Reps E. Sales Managers
A sketch or composite picture of the ideal customer who buys or may buy the firm's products is known as a(n)
A. Decision maker B. Buyer persona (CORRECT) C. Gatekeeper D. Personal shopper E. Influencer
Research on marketing services identifies five determinants of service quality--reliability, assurance, tangibles, empathy, and responsiveness. Assurance includes:
A. Delivering and performing the service dependably and accurately B. Appearance of physical facilities and personnel C. Access, communication, and understanding D. Helping customers promptly E. Competence, courtesy, credibility, and security (correct)
When firms track and analyze their social media data, they find insights into:
A. Demographics and psychographics of buyers B. Best time to engage buyers in social media C. Most effective social network platforms for reach and impact D. Content that works best for a given audience E. Both A and B above F. Both C and D above G. All of the above (CORRECT)
Marketing managers use segmentation, targeting, and positioning to identify new opportunities. These are three distinct activities. Positioning is:
A. Dividing a market into separate groups B. Selecting one or more groups to sell to C. Developing a unique selling proposition for the targeted group(s) (correct) D. Creating a careful analysis of cross tabulations E. Proposing new shelf space to a retailer
Which basis for segmentation divides the market based on differences in core benefits customers seek and usage situations?
A. Geographic segmentation B. Demographic segmentation C. Psychographic segmentation D. Behavioral segmentation (correct) E. Local segmentation
Expectancy model of motivation includes expectancies, instrumentalities, and valence. The expetancies part of the model answers the question:
A. How many competitors in the category? B. How will my effort affect my performance? (correct) C. How much do I value the reward? D. How much money can I expect to make? E. How will my performance be rewarded?
Marketing managers use elements of the promotion mix to communicate value to consumers by:
A. Informing them about the benefits of the product B. Persuading them to try or continue using the product C. Reminding them of the product benefits D. A and B above E. All of the above (CORRECT)
All services have a human element. By their very nature, humans can deliver inconsistent levels of service. Accordingly, service providers seek to deliver consistent quality from the first customer to the last across all business situations. Which unique characteristic of services is represented by this description?
A. Intangibility B. Inseparability C. Variability (correct) D. Perishability E. Automatically
Today, many firms focus on the customer journey where they map every customer and business touchpoint, within every channel, to create world-class customer experiences. An important point along the customer journey is the "moment of truth" where the "promise for results" is realized. Which part of the Services Marketing Triangle is illustrated by this?
A. Internal marketing activities B. External marketing activities C. Interactive marketing activities (correct) D. Managed marketing activities E. Leveraged marketing activities
Reference price is an important concept in pricing strategy. ______________ is what consumers think they should pay for the product, given their past experience and the buying situation, and _______________ is what what everyone else is paying for the product.
A. Internal reference price; external reference price (CORRECT) B. External reference price; internal reference price C. Referral reference price; accepted reference price D. High reference price; low reference price E. Personal reference price; relevant range reference price
Products travel through life cycles starting with introduction stage and finishing with maturity stage. In which stage of the product life cycle do marketing managers seek to build product awareness and consumer experience?
A. Introduction (correct) B. Growth C. Maturity D. Decline E. Obsolete
To be successful, a product must have a competitive angle. A product's competitive angle defines the severity of the problem and the quality of the solution the product provides compared to the competition. A competitive angle:
A. Is unique or different than current offerings in the market B. Makes a positive personal connection with consumers C. Lifts consumers over a hurdle (reduce pain or increase fun) that other competitors fail to do D. A and C E. All of the above (correct)
Amtrak in Denver faces the service challenge of perishability because the company cannot save seats from the 8:05 am train to Salt Lake City for the 7:10 pm train to Kansas City. What can Amtrak do to address this service challenge?
A. Manage fluctuating demand or match supply with changing demand (correct) B. Change the physical environment of the train to provide tangible cues C. Provide more training for frontline employees D. Hire more employees to handle problems quickly E. Diversify into other forms of transportation
What is the key driver in engaging and converting potential customers using social media?
A. Multiple media B. Short, precise messages C. Google AdWords D. Relevant content (CORRECT) E. Product blogs
Social media marketing may be more effective than traditional marketing communications channels because social media:
A. Offers greater flexibility of content and duration B. Has credibility similar to word-of-mouth C. Can build awareness and interest at a much lower cost D. Both A and B E. All of the above (CORRECT)
Frito-Lay, a Pepsi company, promotes its salty snacks--Lay's, Doritos, Ruffles, Funyuns, Fritos, Sun Chips, Tostitos, Cheetos, and Maui Style Potato Chips--directly to final consumers to increase demand at retail. This is an example of:
A. Physical strategy B. Pull strategy (CORRECT) C. Preventive strategy D. Push strategy E. Progressive strategy
Which pricing strategy is used when marketers set a relatively high price to obtain high margins at the expense of sales quantity?
A. Price skimming (CORRECT) B. Price penetration C. Promotional pricing D. Cost-plus pricing E. Competitive pricing
Advertising effectiveness is measured by:
A. Recall (remember the ad and the advertiser) and persuasion (remember the benefit) (CORRECT) B. The amount of humor and the level of entertainment C. Media buying--CPM, GRP, TRP D. Brand legacy E. Push versus pull promotions
In his book Brand Leadership, brand strategist David Aaker claims that brands should:
A. Resonate with customers B. Differentiate from competitors C. Motivate employees D. A and B above E. All of the above (correct)
Perceptual maps show the judgments customers make regarding the performance of a brand's features and benefits. Gap analysis extends the perceptual maps method by asking customers to make judgments regarding:
A. The importance of a brand's features and benefits to the buying decision (correct) B. The performance of competitive brands C. Psychological differences among consumers D. Cultural differences among consumers E. The performance of external forces in the environment
Net Promoter Score (NPS) enables businesses to measure progress of their brand. NPS is the difference between:
A. The percentage of brand promoters and the percentage of brand detractors (correct) B. National brands and store brands C. Competitor brands and company brands D. The percentage of swing group members and the percentage of swing group non-members E. Introduction stage and growth stage in the product life cycle
Today's salespeople face highly informed customers and unprecedented pressure to sell more and sell faster. To boost performance, sales organizations rely on technology and sales tools. Combined, these technologies and sales productivity tools are called:
A. The sales technology stack (correct) B. Productivity enhancers C. Automatic enhancers D. Firm resources E. Tech boosters
Break-even analysis provides a useful method for examining the relationship between price, cost, revenue, and profit at various levels of sales. At the break-even point:
A. Total revenue equals total cost. B. There are no profits. C. There are no losses. D. B and C E. All of the above (CORRECT)
The most critical stage of the new product development process is the concept testing stage because:
A. Type I and Type II errors can be estimated B. Profit projections, including sales forecasts and costs, are estimated C. This is the first time the idea is tested with potential customers (correct) D. Product development begins in earnest E. All elements of the marketing mix are tested
Unit contribution is:
A. Unit price divided by total contribution B. Unit price minus unit variable cost (CORRECT) C. Contribution multiplied by the total number of units sold. D. Fixed cost divided by price minus unit variable cost E. The break-even volume for a specific product item
Which sales promotion method is best for products that are consumed faster when greater quantities are available?
A. Value-added promotions B. Interactive promotions C. Trade promotions D. Coupons E. Price promotions (CORRECT)
Each social network platform has unique strengths. Which platform is best for product demonstrations and tutorials?
A. YouTube (CORRECT) B. Facebook C. Pinterest D. LinkedIn E. Pandora
