MArketing Test 1

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Which of the following is likely to slow the adoption of a new​ technology?

Conceptual complexity

The most basic determinant of a person's wants and behavior are embedded in a consumers __________.

Culture

Nielsen gathers consumer insights through a variety of ways, including consumer tracking and panels. Which type of research is Nielsen engaged in during these examples?

Online Marketing Research

Eskimo Joe's food, logo products, and overall experience keeps customers loyal and coming back time and time again. Such customer loyalty increases __________________.

Customer Lifetime Value

In analyzing a​ company's current business​ portfolio, what is​ management's first​ step?

Identify strategic business units

The ultimate goal of the marketing process is to do which of the​ following?

Receive value from customers

Which of the following is NOT one of the typical advantages of​ e-procurement systems?

Improving​ customer-supplier relationships

Which of the following would be good advice for someone conducting marketing research in a foreign​ country?

Reaching respondents in other parts of the world is more difficult than it is in the United States.

How does the new concept of marketing differ from the old concept of marketing​ ("telling and​ selling")?

The new concept focuses on customer needs.

​______________________ determines if a buyer is satisfied or dissatisfied with a purchase.

The relationship between the​ consumer's expectations and the​ product's perceived performance

What is the main problem that sellers suffering from marketing myopia​ face?

They focus more on products than on the​ customer's underlying need.

What is MOST likely to cause a variation in​ customer-perceived value?

The​ customer's opinion of what constitutes value

Which of the following BEST describes the purpose of customer​ insights?

To create more value for customers

Why is it important for a company to collect both primary and secondary data when conducting marketing​ research?

To have a​ "full picture" of the subject of its study

Which of the following is enhancing how marketers learn about and interact with​ customers?

Big Data and Marketing Analytics

The third purpose of government regulation is to​ _____________________.

protect the interests of society against unrestrained business practices

Which of the following describes the type of research used to help define the research problem and suggest​ hypotheses?

Exploratory Research

The role of a​ company's marketing intermediaries is to do which of the​ following?

Help the company​ find, promote,​ sell, and distribute products

An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO MOST likely to do as a function of his or her​ job?

Inform customers of the​ company's privacy policy

IMG World provides college students with new, relevant media, making which stage of the consumer buyer behavior process easier for the consumer?

Information Search

How has the internet MOST affected companies and​ customers?

The internet has allowed consumers to take marketing content and share it.

To exercise social​ responsibility, many companies are linking themselves to what type of​ marketing?

​Cause-related

Eskimo Joe's is an important part of the community, including customers' lives and customer involvement, which indicates Eskimo Joe's is involved in _________________.

Customer Engagement Marketing

A purse​ company's ads feature the members of a popular housewives reality show. Product sales increase significantly among fans. From​ fans' viewpoint, the housewives reality show is a​ ______________.

reference group

Which of the following scenarios BEST describes the societal marketing​ concept?

​Edward's Earthware attempts to make its pottery in a way that satisfies customers but is also environmentally friendly and sustainable over the long term.

Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six​ years, sales have continuously declined and profits have almost completely disappeared. The owner of​ Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to​ Tina's Tunes?

​Tina's Tunes is likely to fail because it is ignoring the technological environment.

he major cultural values of a society are expressed by​ people's views of​ ____________________

​themselves, others,​ organizations, society,​ nature, and the universe

The owners of Eskimo Joe's understand the customers' needs and wants by sensing and responding to those needs, indicating that Eskimo Joe's assumes which philosophy?

Marketing Concept

Kevin Kern described Konica/Minolta's use of commercials, newspapers, social media, and other media to control the marketing message. Which marketing concept was he referring to?

Marketing Mix

Selling and advertising are part of a larger set of marketing tools that work together to satisfy customer needs and build customer relationships known as​ ________.

Marketing Mix

Konica/Minolta hopes to create customer value through its mission, strategic goals and objectives, marketing mix, and other marketing tools. This collective effort is known as Konica/Minolta's __________.

Marketing Strategy

​_________ refers to the practice of integrating ethnic themes and​ cross-cultural practices within a​ company's mainstream marketing.

Total market strategy

Nielsen is engaged in the collection and analysis of information about consumers, competitors, and developments in the marketplace. This systematic monitoring is known as __________.

competitive marketing intelligence

The real value of marketing information rests in the​ _____________________.

customer insights it provides

A new hardware company is writing its mission statement. Which of the following is the BEST mission statement possible for the new​ company?

We will help customers​ build, invigorate,​ restore, refurbish, or completely redesign their homes or businesses.

​Nguyen's Sporting Goods is having difficulty obtaining the credit it needs to expand. What should the company do in order to alleviate its financial​ situation?

Work out a plan with its financial intermediaries

After creating a​ company's mission and​ objectives, the executive team must then plan​ ____________ by keeping in mind the best fit for its​ strengths, weaknesses, and opportunities in the environment.

its business portfolio

A popular football player at a college who is able to influence the buying decisions of fans would best be described as a(n) __________.

opinion leader influence

How does the microenvironment of a company differ from its​ macroenvironment?

The microenvironment deals with the​ company, suppliers, marketing​ intermediaries, customer​ markets, competitors, and publics.

Which of the following includes shortages of certain raw​ materials, higher pollution​ levels, and more government​ intervention?

The natural environment

What is the importance of selling and advertising in​ marketing?

They work in tandem with building customer relationships.

Why is good marketing management​ critical?

To ensure that the company serves as many customers as it can and as well as it can

What is the purpose of the marketing mix as part of the overall marketing​ strategy?

To produce a response that influences a demand for the product from the customers the company is targeting

What is the ultimate aim of customer relationship​ management?

To produce high customer equity

Which of the following correctly describes customer​ purchases, sales force​ contacts, service and support​ calls, web and social media site​ visits, satisfaction​ surveys, credit and payment​ interactions, and market research​ studies?

Touch Points

A marketing dashboard is used to do which of the​ following?

Monitor strategic marketing performance

When consumers respond in a similar way to a given set of marketing​ efforts, they can be referred to as a​ _________.

A Market Segment

A power tool company wants to give its customers access to​ internal, nonpublic information about how best to use its product in creative ways. What should the company create to provide customers with this​ information?

A company extranet

Proactive businesses often take aggressive actions to affect consumers and the forces in their marketing environments. Which of the following does NOT depict a proactive​ company?

A local restaurant refusing to counter false allegations of salmonella

What is the nature of demand in business​ markets?

Demand in business markets is derived demand.

A marketer who wishes to gain insight into the demographics and attitudes of consumers who buy their product would likely ask Nielsen to perform which type of research?

Descriptive Research

​Julie's Jump Rope Emporium is a new company. From a marketing​ standpoint, what is the FIRST thing​ Julie's Jump Rope Emporium needs to​ do?

Determine who in the community wants or needs a jump rope

Prior to changing its product offerings and realigning its business units, managers at Konica/Minolta most likely first performed which of the following to determine those units that were profitable and those that should be phased out or realigned?

Perform a portfolio analysis.

To create value for​ customers, marketers must improve the performance of the​ ______________, which includes partnering with​ suppliers, distributors, and customers.

Value Delivery Network

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 is NOT one of the four Ps of the marketing​ mix?

Production

What is the first step of the buyer decision​ process?

Need Recognition

Which of the following is NOT one of the marketing management​ functions?

Promoting

o be​ successful, why should companies try to adopt a proactive stance on​ marketing?

A proactive stance allows a company to take advantage of opportunities as they arise.

IMG World's products and services are geared toward colleges and students, the students of which may be considered young achievers. This designation can be best described as which influential factor of consumer buying behavior?

Age and life stages

The act of obtaining a desired object from someone by offering something in return is known as which of the​ following?

An Exchange

​Calvin's Cupcakes is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST path for this company to start to develop an efficient​ MIS?

Assess the information needs of the company

Scott Frost has been coming to​ Aldwin's Diner for 20 years and refuses to go anywhere else.​ Joseph, the owner of​ Aldwin's, loves​ Scott's loyalty but admits he purchases only a cup of coffee at each visit. Scott would BEST be described as which of the​ following?

Barnacle

Which types of companies would most benefit from conducting marketing​ research?

Both large multinational firms like Disney and IBM and small local firms

How do the individual components of a SWOT analysis work together to determine the status of a​ company?

By ascertaining a​ company's strengths, relating them to​ opportunities, minimizing​ weaknesses, and identifying threats to growth and development

Which of the following refers to the degree to which an innovation fits the values and experiences of potential​ consumers?

Compatibility

Which of the five characteristics identified has an inverse relationship with an​ innovation's rate of​ adoption, meaning as this characteristic​ increases, the rate of adoption is​ slower?

Complexity

​Bertram's Beer structures its company in such a way as to encourage its most profitable older customers to remain loyal while also targeting a new generation of customers. What is​ Bertram's Beer attempting to​ build?

Customer Equity

Nielsen gathers data on millions of people to help marketers gain __________ to use to create strategic marketing decisions.

Customer Insights

Which marketing philosophy holds that consumers will favor products that offer the most in​ quality, performance, and innovative​ features?

Product Concept

Eskimo Joe's offers food, spirits, and logo merchandise to customers, who in turn, offer Eskimo Joe's money. What is this relationship known as?

Exchange

Under the previous CEO, Konica/Minolta's management determined it was time to invest in __________ by offering new products to the technology market.

Product Development

You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In​ exchange, you receive a small payment. You are participating in​ a(n) ________.

Focus Group

Asher Airlines instituted a marketing program whose intent is to create a relationship with customers with seat upgrades and free miles for their continued patronage. What customer relationship tool is Asher Airlines​ using?

Frequency marketing program

​__________________ is a group numbering 55 million or more consumers and sometimes is an overlooked​ "in-between" consumer group because it is both smaller and less materialistic than other groups and prizes​ experience, not acquisition.

Generation X

Students purchasing items with the college logo most likely represent consumers involved in which type of buying behavior?

Habitual

Which of the following describes the current trend in businesses regarding relationships with​ customers?

Hand-pick the most profitable customers and allow them more input.

What are stars in the​ growth-share matrix?

High-growth, high-share businesses or products

A value chain consists of which of the​ following?

Internal departments and other companies that carry out​ value-creating activities

Marketers obtain needed marketing information from which of the​ following?

Internal​ data, marketing​ intelligence, and marketing research

Of the​ following, which best reflects how the American population has changed over​ time?

It has become more​ diverse, better​ educated, and more mobile.

Which of the following statements regarding the business market is​ correct?

Many sets of business purchases are made for one set of consumer purchases.

A local drama club wants to increase the membership and attendance at its performances. To do​ so, it hosts free​ shows, starts​ poetry-reading nights, and sends volunteers to the local high school. What is the drama club engaging​ in?

Market Exchange

In addition to selling food, drink, and a variety of items that feature its popular logo, Eskimo Joe's offers its customers a valuable experience, known as its ______________.

Market Offering

Konica/Minolta focuses one of its business units on medical and healthcare groups. These groups make up one of Konica/Minolta's __________.

Market Segment

Denim Blue Jean Corporation is a growing company located in Washington​ State, but it is beginning to develop a presence in the surrounding states as well. It sells only one productlong dash—blue jeanslong dash—but it has 12 different lines of jeans that cater to​ men, women,​ children, babies,​ toddlers, and teens. Which type of marketing department organization would BEST suit Denim Blue Jean​ Corporation?

Market management organization

​___________consists of the analysis​ tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.

Marketing Analytics

How do market demands relate to needs and​ wants?

Needs are satisfied by​ wants, and buying power converts wants into demand.

Sanchez Hispanic Foods and Seasonings has started to grow larger than the Sanchez family could ever have imagined. The company is having a hard time keeping track of all of the​ business' marketing activities. They know that they are going to need help to keep the business growing and are looking for solutions. Which of the following potential hires is likely the best decision for the Sanchez​ family?

Noah​ Lopez, a marketing specialist and expert who would be hired as the Sanchez​ family's new chief marketing officer

​Vaughn's Video has suffered because more people are subscribing to online streaming sites such as​ Netflix, YouTube,​ iTunes, Amazon, and Hulu. Which of the following marketing trends has NOT affected​ Vaughn's Video?

Not for profit Marketing

All of the following are aspects of sustainable marketing EXCEPT which​ one?

Observe environmental legislation as it is instituted.

Which of the following needs in​ Maslow's hierarchy is generally satisfied​ first?

Physiological needs

The specific data that Nielsen provides to its clients for a specific purpose that has not been completed before, is most likely which type of data?

Primary

​Beverly's Burgers came under fire recently when allegations were made that its veggie burgers were actually made with beef. To counter the​ claims, the restaurant called in a company to test not only its veggie​ burgers, but also the rest of its vegetarian options to prove they lacked meat. The results were displayed publicly on the​ restaurant's Facebook page. What BEST describes​ Beverly's Burgers' response to the​ allegations?

Proactive

The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the first stage in this​ process?

Problem recognition

Which of the following information must a researcher evaluate to make certain it is​ relevant, accurate, and​ impartial?

Secondary

Ethel and Jan have just started a new​ company, Jantel,​ Inc., and are having trouble deciding which marketing path to take to drive sales. Ethel believes they should follow a​ make-and-sell philosophy that focuses on improving their​ product, whereas Jan believes they should be more​ customer-oriented and find the right products for their customers. Which of the following BEST describes this​ situation?

Should​ Jantel, Inc., follow a product or marketing​ concept?

Which of the following is NOT part of an overall SWOT analysis evaluation of a​ company?

Strategy

There have been dramatic changes in the political environment that affect marketing. Which of the following does NOT represent one of those​ changes?

Strong emphasis on free trade and open borders

​________________ is one problem with​ business-to-business e-procurement

Suppliers being pitted against one another

When a company chooses a group of customers to​ serve, it is engaging in which of the​ following?

Target Marketing

​Chicago's Best Pizzeria has been operating on the north side of Chicago for more than 30 years. Its target market includes young urban professionals who want​ new-style organic pizzas with exotic ingredients.​ However, in recent​ years, the population in the​ pizzeria's neighborhood has been​ shifting, and now fewer young urban professionals live there. The population has grown older and wants traditional​ pizza, not pizza with exotic ingredients. Which of the following identifies the​ pizzeria's BEST response to this​ situation?

Target a new market with a different product.

___________________ consists of many different people who play multiple roles in the buying process.

The Buying Center

When a company starts the strategic planning process at the corporate​ level, it begins by​ _____________________________.

defining its overall purpose and mission

A​ company's marketing information system​ (MIS) is valuable because it​ ___________________.

enables a company to use customer insights to improve relationships with customers


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