Marketing Test 1

The set of tactical marketing tools that a firm blends to produce the response it wants in the target markets is called​ ________. Question content area bottom Part 1 A. the marketing mix B. positioning C. target marketing D. market segmentation E. differentiation

A

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? Question content area bottom Part 1 A. Market exchange B. Advertising C. Building customer relationships D. Product placement E. Market research

A

Actions by which satisfied customers initiate favorable interactions with others about a brand are defined as​ ________. Question content area bottom Part 1 A. customer brand advocacy B. partner relationship management C. customer lifetime value D. share of customer E. customer equity

A

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? Question content area bottom Part 1 A. Inform customers of the​ company's privacy policy B. Scour consumer financial information C. Track the clicks of customers on websites D. Use customer data in such a way to convince customers to buy products E. Compile an exhaustive resource of customer data

A

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? Question content area bottom Part 1 A. Frequency marketing program B. ​Consumer-generated marketing C. ​Customer-perceived value D. Direct marketing E. ​Mass-media marketing

A

A​ company's marketing should support the five sustainable marketing principles. Of the​ following, which is NOT among those​ principles? Question content area bottom Part 1 A. Salutary marketing B. ​Consumer-value building marketing C. ​Do-no-harm marketing D. ​Sense-of-mission marketing E. ​Consumer-centric marketing

A

Because of deceptive acts or practices by​ companies, Congress has enacted legislation designed to protect consumers. Which of the following was enacted to protect consumers against deceptive acts or​ practices? Question content area bottom Part 1 A. ​Wheeler-Lea Act of 1938 B. Fair Credit Reporting Law C. Consumer Rights Act of 2015 D. Federal Trade Commission Act of 1914 E. Credit Card​ Accountability, Responsibility, and Disclosure Act

A

Using online consumer tracking data and analytics to target advertisements and marketing offers to specific consumers is known as​ ________. Question content area bottom Part 1 A. behavioral targeting B. segmentation C. neuromarketing D. social targeting E. sampling

A

What is a company marketing strategy? ANSWER The marketing logic by which a company hopes to create customer value The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities The process by which management evaluates products and businesses The process of evaluating each market segment's attractiveness

A

When a company develops a business portfolio, when does it identify the key businesses that make up the company, strategic business units (SBUs)? This is typically the first step in the process. This is usually one of the last steps in the process. This is typically the second step in the process. This is often the third step in the process.

A

When a company develops a business portfolio, when does it identify the key businesses that make up the company? This is typically the first step in the process. This is usually one of the last steps in the process. This is often the third step in the process. This is typically the second step in the process.

A

Which environment shows trends including shortages of certain raw​ materials, higher pollution​ levels, and more government​ intervention? Question content area bottom Part 1 A. The natural environment B. The economic environment C. The technological environment D. The political environment E. The sociocultural environment

A

Which is an example of a​ non-traditional marketing​ approach? A. Smartphone apps B. Product displays C. Direct mail catalogs D. Television commercials E. Magazine ads

A

Which of the following is NOT a recent shift in secondary U.S. cultural​ values? Question content area bottom Part 1 A. The past two decades have seen a sharp increase in confidence in and loyalty toward​ America's business and political organizations and institutions. B. People have been moving away from materialism to seek more permanent values. C. People use​ products, brands, and services as a means of​ self-expression, and they buy products and services that match their views of themselves. D. American patriotism has been increasing gradually for the past two decades. E. People have recognized that nature is finite and​ fragile; it can be destroyed or spoiled by human activities

A

Which of the following is NOT one of the components of a​ company's microenvironment? Question content area bottom Part 1 A. Cultural forces B. Marketing intermediaries C. Suppliers D. Customer markets E. Competitors

A

Which of the following states that managers must look beyond what is legal and allowable and develop standards based on personal​ integrity, corporate​ conscience, and​ long-term consumer​ welfare? Question content area bottom Part 1 A. The sustainable marketing concept B. The​ sense-of-mission marketing concept C. The​ do-no-harm marketing concept D. The​ consumer-centric marketing concept E. The​ consumer-value building marketing concept

A

Which statement regarding cultural values is​ true? Question content area bottom Part 1 A. Marketers have little chance of changing core values. B. Secondary beliefs and values are less open to change than core beliefs. C. Marketers have no chance of changing secondary values. D. The media pushes core values onto the community. E. Core beliefs and values are more open to change than secondary values.

A

________ refers to striving for good faith and fair dealing so as to contribute toward the efficacy of the exchange process as well as avoiding deception in product​ design, pricing,​ communication, and delivery or distribution. Question content area bottom Part 1 A. ​"Foster trust in the marketing​ system" B. ​"Embrace ethical​ values" C. ​"Do no​ harm" D. ​"Never be​ deceptive" E. ​"Incorporate a sense of​ mission"

A

__________ is made up of the company, its suppliers, its distributors, and, ultimately, its customers who partner with each other to improve the performance of the entire system. A value delivery network A market segment The current marketing situation A value chain

A

​________ is the process of dividing a market into distinct groups of buyers who have different​ needs, characteristics, or​ behaviors, and who might require separate marketing strategies or mixes. Question content area bottom Part 1 A. Market segmentation B. Market targeting C. Marketing strategy D. Differentiation E. Positioning

A

​________ products have low immediate appeal but might benefit consumers in the long run—for ​instance, bicycle helmets or some insurance products. Question content area bottom Part 1 A. Salutary B. Marketing C. Pleasing D. Deficient E. Desirable

A

​__________ products give high immediate satisfaction but might hurt consumers in the long run. Question content area bottom Part 1 A. Pleasing B. Deficient C. Marketing D. Salutary E. Desirable

A

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? Question content area bottom Part 1 A. A data warehouse B. A company extranet C. A company website D. A company data mine E. A company intranet

B

Amazon​ Echo's Alexa is an example of​ a(n) ________-powered application. Question content area bottom Part 1 A. mobile marketing B. artificial intelligence​ (AI) C. big data D. Internet of Things​ (IoT) E. social media

B

Americans are a mobile​ people, with about 9 percent of all U.S. residents moving each year. Which population trend does this​ describe? Question content area bottom Part 1 A. Decreases in populations in Oregon and Alabama B. A shift from rural to metropolitan areas C. A shift from the Sunbelt states to the Snowbelt states D. Increases in populations in New York and Connecticut E. An exodus from the suburbs

B

A​ company's marketing information system​ (MIS) is valuable because it​ ________. Question content area bottom Part 1 A. allows a company to outperform its competitors in the marketplace B. enables a company to use customer insights to improve relationships with customers C. ensures that the company will have good customer service D. increases the likelihood that a customer will buy a product E. maintains the​ company's internal database of customers

B

Companies embracing environmental sustainability policies develop strategies to implement them. The strategies include which of the following​ components? Question content area bottom Part 1 A. Create recycling policies and ensure sustainability B. Sustain the environment and produce profits for the company C. Ensure sustainability and establish sustainability policies D. Sustain the environment and implement renewable energy policies E. Implement renewable energy policies and protect company profits

B

Exaggerating package contents through subtle​ design, using misleading​ labeling, or describing size in misleading terms is known as​ _________. Question content area bottom Part 1 A. excessive markups B. deceptive packaging C. deceptive promotion D. deceptive pricing E. bait and switch

B

The main section of a typical marketing plan presents​ ________. Question content area bottom Part 1 A. a​ product/market expansion grid B. a SWOT analysis C. an executive summary D. the controls that will be used to monitor progress E. a​ growth-share matrix

B

What are the five marketing management functions used to manage the marketing​ process? Question content area bottom Part 1 A. ​Analysis, segmenting,​ targeting, planning, and implementing B. ​Analysis, planning,​ implementation, organization, and control C. ​Segmenting, planning,​ implementation, differentiation, and control D. ​Targeting, planning,​ implementation, control, and segmenting E. Product​ development, pricing, customer​ service, promotion, and control

B

What is market targeting? The process by which management evaluates the products and businesses that make up the company The process of evaluating each market segment's attractiveness and selecting one or more segments to enter The marketing logic by which the company hopes to create customer value and achieve profitable customer relationships The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities

B

_________ 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. Question content area bottom Part 1 A. Big data B. Marketing analytics C. Touch points D. CRM E. Marketing information

B

According to the​ text, which is currently the most dramatic force shaping our​ world? Question content area bottom Part 1 A. Economic environment B. Natural environment C. Technological environment D. Political environment E. Demographic environment

C

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? Question content area bottom Part 1 A. Reactive B. Passive C. Proactive D. Determinative E. Steadfast

C

Firms that develop strategies to change the​ environment, instead of assuming that strategic options are bounded by the current​ environment, are being​ _______. Question content area bottom Part 1 A. cautious B. reactive C. proactive D. shortsighted E. passive

C

How does the microenvironment of a company differ from its​ macroenvironment? Question content area bottom Part 1 A. The microenvironment is​ company-based, whereas the macroenvironment is​ customer-based. B. The microenvironment deals with the big​ problems, whereas the macroenvironment deals with trivial problems. C. The microenvironment deals with the​ company, suppliers, marketing​ intermediaries, customer​ markets, competitors, and publics. D. The microenvironment affects a larger portion of the company than the macroenvironment. E. The microenvironment uses more financial resources than the macroenvironment.

C

In this age of customer value and​ relationships, the four Ps might be better described as the four As. Which is NOT one of the four​ As? Question content area bottom Part 1 A. Acceptability B. Accessibility C. Accountability D. Awareness E. Affordability

C

Marketing provides a guiding philosophy for a​ company's strategic planning. This​ philosophy, known as​ __________, focuses on creating customer value and building profitable relationships with important consumer groups. Question content area bottom Part 1 A. value chain management B. customer relationship management C. the marketing concept Your answer is correct. D. partner relationship management E. the value network

C

Practices such as misrepresenting the​ product's features or performance or luring customers to the store for a bargain that is out of stock are considered​ _________. Question content area bottom Part 1 A. deceptive packaging B. baiting C. deceptive promotion D. deceptive pricing E. excessive markups

C

Question content area top Part 1 ​________ is the process of dividing a market into distinct groups of buyers who have different​ needs, characteristics, or​ behaviors, and who might require separate marketing strategies. Question content area bottom Part 1 A. Marketing mix B. Market targeting C. Market segmentation D. Differentiation E. Positioning

C

The IoT is part of which external marketing​ environment? Question content area bottom Part 1 A. The natural environment B. The demographic environment C. The technological environment D. The economic environment E. The sociocultural environment

C

The profound effect of the​ COVID-19 pandemic is evidenced in all of the following EXCEPT​ ________. Question content area bottom Part 1 A. increasing to​ 25% the amount of sales moving through online channels B. boosting​ brands' use of​ online, mobile, social​ media, and other digital platforms to connect with consumers C. quickening the shift from​ digital-first consumer engagement strategies to​ in-store connections D. hastening the transition to digital in almost every area of human activity E. accelerating the shift to online shopping by an estimated 5 to 10 years

C

The ultimate goal of the marketing process is which of the​ following? Question content area bottom Part 1 A. Developing relationships with customers B. Evaluating customer needs C. Receiving value from customers D. Determining a target market E. Creating a quality product

C

The​ demographic, economic,​ natural, technological,​ political, and cultural forces that affect a​ company's ability to serve its customers make up which of the​ following? Question content area bottom Part 1 A. Microenvironment B. Technological environment C. Macroenvironment D. Cultural environment E. Marketing environment

C

To create value for​ customers, marketers must improve the performance of the​ _________, which includes partnering with​ suppliers, distributors, and customers. Question content area bottom Part 1 A. competitive delivery network B. strategic plan C. value delivery network D. internal value chain E. marketing system

C

What is the correct sequence of the steps in the strategic planning​ process? Question content area bottom Part 1 A. Design the business​ portfolio, define the company​ mission, set company objectives and​ goals, and plan the marketing and other functional strategies B. Define the company​ mission, design the business​ portfolio, set company objectives and​ goals, and plan the marketing and other functional strategies C. Define the company​ mission, set company objectives and​ goals, design the business​ portfolio, and plan the marketing and other functional strategies Your answer is correct. D. Set company objectives and​ goals, define the company​ mission, design the business​ portfolio, and plan the marketing and other functional strategies E. Define the company​ mission, set company objectives and​ goals, plan the marketing and other functional​ strategies, and design the business portfolio

C

What is the first step of the marketing research​ process? Question content area bottom Part 1 A. Comparing research findings to other studies B. Implementing the research plan C. Defining the research problem D. Developing the research plan E. Interpreting and reporting the findings

C

Which of the following is included in the American Marketing​ Association's (AMA) Code of Ethics and stresses consciously avoiding injurious actions or omissions by embodying high ethical standards and adhering to all applicable laws and regulations in the choices we​ make? Question content area bottom Part 1 A. Embrace ethical values B. Foster trust in the marketing system C. Do no harm D. Incorporate a sense of mission E. Avoid deception and misleading marketing practices

C

Which type of research seeks to define and characterize​ things, such as the market potential for a product or the demographics and attitudes of consumers who buy the​ product? Question content area bottom Part 1 A. Exploratory research B. Secondary research C. Descriptive research D. Primary research E. Causal research

C

Which type of sample involves dividing the population into mutually exclusive groups​ (such as​ blocks), and then drawing a sample of the groups to​ interview? Question content area bottom Part 1 A. Stratified random sample B. Quota sample C. Cluster​ (area) sample D. Simple random sample E. Convenience sample

C

​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? A. Advertise the company as a location in which to purchase jump ropes. B. Develop the best jump rope possible. C. Determine who in the community wants or needs a jump rope. D. Develop relationships with the customers who come to purchase jump ropes. E. Develop a plan to sell as many jump ropes as possible.

C

​________ marketing means that the company should view and organize its marketing activities from the​ consumer's point of view. Question content area bottom Part 1 A. ​Do-no-harm B. ​Customer-value building C. ​Consumer-centric D. ​Sense-of-mission E. Ethical

C

A marketing dashboard is used to do which of the​ following? Question content area bottom Part 1 A. Analyze the new product lines being developed B. Develop a course of action to market a product C. Determine the financial cost of developing a product D. Monitor strategic marketing performance E. Promote a product to a target group

D

A marketing plan begins with​ ________ and ends with​ a(n) ________. Question content area bottom Part 1 A. an executive​ summary; action plan B. a marketing​ strategy; profit forecast C. ​objectives; budget forecast D. an executive​ summary; outline of controls E. ​objectives; outline of controls

D

A video game manufacturer wants to enter the Japanese market with their current line of games. Based on the​ product/market expansion​ grid, which growth strategy is the firm​ using? Question content area bottom Part 1 A. Market penetration B. Diversification C. Product development D. Market development E. Harvesting

D

A wedding services company changes its marketing strategy to reflect the fact that more LGBTQ​ (lesbian/gay/bisexual/transgender/queer) marriages are taking place. The company is offering a broader range of ceremonies that cater to this market. Which of the following environments must this wedding company​ analyze? Question content area bottom Part 1 A. Technological B. Political C. Economic D. Cultural E. Natural

D

Changes in the​ ___________ have focused greater emphasis on ethics and socially responsible actions. Question content area bottom Part 1 A. cultural environment B. demographic environment C. technological environment D. political and social environment E. economic environment

D

Question content area top Part 1 Which of the following types of marketing calls for building​ long-run consumer​ engagement, loyalty, and​ relationships? Question content area bottom Part 1 A. Ethical marketing B. ​Consumer-centric marketing C. ​Do-no-harm marketing D. ​Consumer-value building marketing E. ​Sense-of-mission marketing

D

Question content area top Part 1 ​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? Question content area bottom Part 1 A. Conduct surveys or focus groups to gather information B. Distribute necessary information to the marketing team C. Analyze the information gathered in market research D. Assess the information needs of the company E. Determine how to use the information gathered by market research

D

Question content area top Part 1 ​________ marketing means that the company should define its mission in broad social terms rather than narrow product terms. Question content area bottom Part 1 A. ​Consumer-centric B. ​Do-no-harm C. Ethical D. ​Sense-of-mission E. ​Consumer-value building

D

SWOT analysis is __________. turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved an overall evaluation of a company's strengths, weaknesses, opportunities, and threats I DON'T KNOW YET

D

To exercise social​ responsibility, many companies are linking themselves to what type of​ marketing? Question content area bottom Part 1 A. Technological B. Generational C. Intermediaries D. ​Cause-related E. Environmental

D

Using the BCG​ growth-share matrix as a​ guide, Masumura Technologies identified question marks in its business portfolio but is currently maintaining its market share. At a recent meeting with the​ company's senior management​ team, the CEO of Masumura and her team members decided to allocate all of the​ company's profits toward the growth and expansion of these question​ marks, in order to cause the question marks to become stars. What is likely to happen to this​ company? Question content area bottom Part 1 A. The company will go bankrupt because all of its profits will be wasted on uncertain SBUs. B. The company will not show any growth or change at all because profits will neither increase nor decrease. C. The company will be unable to sustain itself because its profits will be spent on developing question marks and not on maintaining more profitable SBUs. D. The growth of the company will be unpredictable because there is no guarantee that a question mark will become a star. E. The company will gain market share and prosper as the question marks are developed.

D

What is diversification? ANSWER Company growth by increasing sales of current products to current market segments without changing the product Company growth by identifying and developing new market segments for current company products Company growth by offering modified or new products to current market segments Company growth through starting up or acquiring businesses outside the company's current products and markets

D

What is the Internet of Things​ (IoT)? Question content area bottom Part 1 A. The act of fostering direct and continuous customer involvement in shaping brand​ conversations, brand​ experiences, and brand community B. Using digital marketing tools to engage consumers​ anywhere, at any​ time, via their digital devices C. Actions by which satisfied customers initiate favorable interactions with others about a brand D. A global environment where everything and everyone is digitally connected to everything and everyone else E. Machines that think and learn in a way that looks and feels human but with a lot more analytical capacity

D

What is the product/market expansion grid? An evaluation of the company's strengths, weaknesses, opportunities, and threats A set of tactical marketing tools The measuring and evaluating of results of marketing strategies of a company A portfolio-planning tool

D

What is the product/market expansion grid? ANSWER An evaluation of the company's strengths, weaknesses, opportunities, and threats A set of tactical marketing tools The measuring and evaluating of results of marketing strategies of a company A portfolio-planning tool

D

Which of the following is at the center of marketing strategy and​ programs? Question content area bottom Part 1 A. Customer and supplier relationship management B. Value chains of both customers and suppliers C. Customer relationship engagement and value chains D. Customer​ engagement, value, and relationships E. Product and supply chain management

D

Which of the following is the primary reason firms use competitive marketing​ intelligence? Question content area bottom Part 1 A. To make early decisions regarding pricing strategies of competitors B. To understand more about a​ competitor's new product development efforts C. To assess and respond to a​ competitor's social media strategies D. To gain early insights into competitor moves and​ strategies, and to prepare quick responses E. To gain an understanding of a​ competitor's channels of distribution

D

Which of the following means striving for building relationships and enhancing consumer confidence in the integrity of marketing by affirming these core​ values: honesty,​ responsibility, fairness,​ respect, transparency, and​ citizenship? Question content area bottom Part 1 A. Never be deceptive B. Do no harm C. Foster trust in the marketing system D. Embrace ethical values E. Incorporate a sense of mission

D

Which of the following statements about online research is​ correct? Question content area bottom Part 1 A. Experiments cannot be conducted online. B. Online research is only feasible for large companies. C. Focus groups are rarely conducted online. D. Online surveys generally have higher response rates than those conducted by mail or phone. E. It is more expensive to conduct online research than to do a​ mail, phone, or personal interview.

D

Which of the following would be good advice for someone conducting marketing research in a foreign​ country? Question content area bottom Part 1 A. Consumers in foreign markets generally enjoy participating in marketing research. B. Globalization has slowed​ down, so international research is no longer necessary. C. You can easily find good secondary data in most foreign markets. D. Reaching respondents in other parts of the world is more difficult than it is in the United States. E. Language translation will be easy.

D

__________ is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification. Marketing implementation SWOT analysis Marketing control The product/market expansion grid

D

Which is a current trend in the cultural​ environment? Question content area bottom Part 1 A. A turn away from spiritualism and meaningful values B. A decreasing patriotism C. An increasing trust in institutions D. A lessening appreciation for nature E. A rise in​ technology-enabled communication

E

According to the principle of​ ________ marketing, the company should put most of its resources into​ long-term consumer-value building marketing investments. Question content area bottom Part 1 A. ​do-no-harm B. ethical C. ​sense-of-mission D. ​consumer-centric E. ​customer-value building

E

In the context of customer relationship​ groups, which statement is​ true? Question content area bottom Part 1 A. There is a strong fit between​ barnacles' needs and the​ company's offerings. B. Strangers show high potential profitability but little projected loyalty. C. True friends and butterflies both show high projected loyalty. D. True friends are loyal but not very profitable. E. There is a good fit between the​ company's offerings and​ butterflies' needs.

E

Juanita owns a small​ hot-air balloon company in​ Albuquerque, New Mexico. She recently started a Facebook page for her​ company, and many of her customers are asking for​ store-sponsored hot-air balloon trips. They believe​ Juanita's expertise would make her the perfect guide. Juanita decides to host quarterly​ hot-air balloon trips and experiences a huge increase in sales and customer satisfaction. Which of the following is the BEST conclusion that can be drawn from​ Juanita's situation? Question content area bottom Part 1 A. Customer insights are emotional and often irrelevant to a small business. B. Customer insights can be gained only through costly market research. C. Customer insights are not dependable. D. Most small businesses have no way of easily accessing customer insights. E. Customer insights can provide valuable information to a small businesses.

E

One recent trend in the​ ________ is that rather than reverting to their old​ free-spending ways, Americans are retaining an enthusiasm for frugality. Question content area bottom Part 1 A. demographic environment B. sociocultural environment C. technological environment D. political environment E. economic environment

E

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? Question content area bottom Part 1 A. A dairy creating new flavors of organic yogurt in response to a trend toward healthy eating B. A jewelry company taking advantage of the new trend of charm bracelets C. A small family winery offering a broader selection of red wines in response to a growing preference for red wines D. A utility company hiring lobbyists to influence legislation regarding climate change E. A local restaurant refusing to counter false allegations of salmonella

E

Which of the following BEST describes the purpose of customer​ insights? Question content area bottom Part 1 A. To represent the company to its customers B. To advertise new products to customer bases C. To develop new markets of customers for the company D. To instruct other company departments in customer service E. To create more value for customers

E

Which of the following is NOT a primary goal of competitive marketing​ intelligence? Question content area bottom Part 1 A. Improving strategic decision making B. Providing early warnings of threats C. Providing early warnings of opportunities D. Assessing and tracking​ competitors' actions E. Creating an understanding of the​ business-to-business environment

E

Which of the following is NOT one of the forces in a​ company's macroenvironment that shape opportunities and pose threats to the​ company? Question content area bottom Part 1 A. Cultural forces B. Technological forces C. Economic forces D. Demographic forces E. Competitive forces

E

Which of the following is NOT one of the four Ps of the marketing​ mix? Question content area bottom Part 1 A. Promotion B. Price C. Place D. Product E. Production

E

Which of the following scenarios BEST describes the societal marketing​ concept? Question content area bottom Part 1 A. ​Amy's Apple Cart regularly asks its customers what kind of apples they want to buy. B. ​Tim's Tires constantly tries to improve on the tires it sells by placing all of its efforts into new design research. C. ​Robert's Rotors does everything to improve production and lower the cost of its rotors in order to gain customers. D. ​Wanda's Wedding Wear frequently promotes itself to customers through​ commercials, fliers, and other forms of advertising. E. ​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.

E

Which strategy involves company growth through starting up or acquiring businesses outside the​ company's current products and​ markets? Question content area bottom Part 1 A. Product development B. Pruning C. Market penetration D. Market development E. Diversification

E

​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? Question content area bottom Part 1 A. Run an ad campaign on the health benefits of pizza. B. Sell a different food​ product, such as hamburgers or sushi. C. Be proactive and convince customers that​ "exotic is​ better." D. Cut the prices on its pizza. E. Target a new market with a different product.

E

​________ compose a​ company's external value delivery network. Question content area bottom Part 1 A. ​Suppliers, distributors, and other company departments B. Company​ departments, customers, and competitors C. ​Customers, competitors, and suppliers D. ​Suppliers, customers, and other company departments E. ​Suppliers, distributors, and customers

E

Question marks are __________ .

High Growth, Low Share

How is a dog defined in the growth-share matrix?

Low growth, Low market share

Market __________ is company growth by increasing sales of current products to current market segments without changing the product.

Penetration

Low Growth, High Share

cash cow

__________ is the series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products.

value chain

Criticism has been leveled at marketing for negative impact on other businesses. Of the​ following, which does NOT fall within those​ criticisms? Question content area bottom Part 1 A. Creating false wants and too much materialism B. Reducing competition through acquisitions C. Unfair competitive marketing practices D. Practices that create barriers to entry E. Harming competitors through acquisitions

A

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 what Ethel and Jan are​ considering? Question content area bottom Part 1 A. Should​ Jantel, Inc., follow a product or marketing​ concept? B. Should​ Jantel, Inc., follow a societal marketing or production​ concept? C. Should​ Jantel, Inc., follow a marketing concept or a societal marketing​ concept? D. Should​ Jantel, Inc., follow a product or selling​ concept? E. Should​ Jantel, Inc., follow a production or selling​ concept?

A

How do market demands relate to needs and​ wants? Question content area bottom Part 1 A. Needs are satisfied by​ wants, and buying power converts wants into demand. B. ​Needs, wants, and demands all describe the same state in the customer. C. Needs and wants outweigh demands in the​ customer's mind. D. Demands result in customers needing and wanting a particular product. E. Wants and demands are​ equivalent, and both satisfy needs at the same rate.

A

Marketing​ ________ focuses on the what and why of marketing​ activities, while marketing​ ________ focuses on the​ who, where,​ when, and how. Question content area bottom Part 1 A. ​planning; implementation B. ​implementation; analysis C. ​analysis; planning D. ​implementation; organization E. ​organization; planning

A

Most standard portfolio analysis methods evaluate strategic business units​ (SBUs) on their performance in two important dimensions. What are these two​ dimensions? Question content area bottom Part 1 A. The attractiveness of the​ SBU's market or industry and the strength of the​ SBU's position in that market or industry B. The attractiveness of the​ SBU's market or industry and the number of products the company produces C. The type of market or industry in which the company competes and the strength of the​ SBU's position in that market or industry D. The number of SBUs the company identifies and the number of products it produces E. The number of products a company produces and the number of foreign countries in which the company competes

A

Nguyen's Sporting Goods is having difficulty obtaining the credit it needs to expand. What should the company do in order to improve its financial​ situation? Question content area bottom Part 1 A. Work out a plan with its financial intermediaries B. Reexamine its relationship with its resellers C. Devise a marketing plan with a marketing service agency D. Find a new physical distribution firm E. Analyze the finances of one of its competitors

A

Question content area top Part 1 Which is an advantage associated with internal​ databases? Question content area bottom Part 1 A. They can be accessed more quickly and cheaply than other information sources. B. No sophisticated equipment is required to manage the information they collect. C. The information they contain is in the proper form for making marketing decisions. D. Only rudimentary techniques are needed to mine the information for insights. E. Little effort is required to keep such databases current.

A

The role of a​ company's marketing intermediaries is to do which of the​ following? Question content area bottom Part 1 A. Help the company​ find, promote,​ sell, and distribute products B. Provide the resources needed by the company to produce goods and services C. Determine which products a company should market D. Manage the​ company's human resources efforts E. Purchase the​ company's product

A

How is marketing control defined? It is the process of evaluating each market segment's attractiveness. It is the measuring and evaluating of the results of marketing strategies and plans and taking corrective action. It is an overall evaluation of a company's strengths, weaknesses, opportunities, and threats. It is the turning of marketing strategies and plans into marketing actions.

B

Primary data​ ________. Question content area bottom Part 1 A. must be evaluated as to​ accuracy, currency, and impartiality B. consist of information collected for the specific purpose at hand C. is usually the first type of data researchers start gathering D. have been collected for another purpose E. already exist somewhere

B

The first generation to come of age in a world filled with​ computers, mobile​ phones, and online social​ media, ________​ embrace(s) technology as a way of life. Question content area bottom Part 1 A. baby boomers B. millennials C. Generation X D. Generation Z E. Generation Alpha

B

The focus of which of the following processes not only sets the stage for planning in the​ firm, but also represents the maintenance and development of the​ organization's goals and capabilities and its changing marketing​ opportunities? Question content area bottom Part 1 A. Marketing planning B. Strategic planning C. Annual planning D. Research and development planning E. ​Long-range planning

B

When a company chooses a group of customers to​ serve, it is engaging in which of the​ following? Question content area bottom Part 1 A. Differentiation B. Target marketing C. Demand management D. Societal marketing E. Market segmentation

B

Which BEST expresses the goal of effective marketing​ management? Question content area bottom Part 1 A. Trying to serve all customers in every way B. Selecting only customers a company can serve well and profitably C. Focusing only on affluent customers D. Finding as many customers as possible and increasing demand E. Refusing to limit a​ company's efforts to chosen segments of the market

B

Which concept takes an​ outside-in view that emphasizes fulfilling the needs of customers as a road to​ profits? Question content area bottom Part 1 A. The production concept B. The marketing concept C. The selling concept D. The product concept E. The societal concept

B

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? Question content area bottom Part 1 A. Purchases B. Touch points C. Service calls D. Sales calls E. Satisfaction surveys

B

Which of the following describes an organized movement of concerned​ citizens, businesses, and government agencies designed to protect and improve​ people's current and future living​ environment? Question content area bottom Part 1 A. Societal marketing B. Environmentalism C. Conscious consumption D. Consumerism E. Sustainable marketing

B

Which of the following is an important trend in the natural environment of which marketers should be​ aware? Question content area bottom Part 1 A. Decreased government intervention B. Shortages of raw materials C. A decrease in consumer concern toward the environment D. A decreased emphasis on sustainability E. Decreased pollution

B

Which of the following statements about big data is​ correct? Question content area bottom Part 1 A. Analyzing big data is a very easy task. B. One result of big data is that marketing managers are often overloaded and overwhelmed with information. C. Analyzing big data always leads to useful customer insights. D. Big data actually refers to very small data sets. E. Big data is only used by big companies.

B

Which of the following statements is correct regarding generational​ marketing? Question content area bottom Part 1 A. The changing age structure of the population is of little importance to marketers. B. Defining people by their birth date may be less effective than segmenting them by​ lifestyle, life​ stage, or common values. C. ​Demographically, generational marketing in the U.S. today is characterized by rising birthrates and shorter life expectancies. D. Each generation shares similar​ socio-economic status​ (SES). E. Generation​ Alpha, Millennials, and Gen Z are so similar that marketers can treat them as one segment.

B

Which statement is​ true? Question content area bottom Part 1 A. Big data presents marketers with big opportunities and minimal challenges. B. The real value of marketing information lies in how it is used. C. A lack of information is impeding​ marketers' opportunities. D. Big data presents marketers with minimal opportunities and significant challenges. E. ​Today's marketers need more​ information, not better information.

B

Which tool uses market​ penetration, market​ development, product​ development, or diversification to identify company growth​ opportunities? Question content area bottom Part 1 A. ​Growth-share matrix B. ​Product/market expansion grid C. SWOT analysis D. Market segmentation E. Value delivery network

B

__________ is an overall evaluation of a company's strengths, weaknesses, opportunities, and threats. ANSWER The product/market expansion grid SWOT analysis Marketing control Marketing implementation

B

​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? Question content area bottom Part 1 A. ​Tina's Tunes is likely to fail because it is ignoring the natural environment. B. ​Tina's Tunes is likely to fail because it is ignoring the technological environment. C. ​Tina's Tunes is likely to fail because it is ignoring the current political environment. D. ​Tina's Tunes is likely to prosper as mistrust in the digital age increases. E. ​Tina's Tunes will experience a rebound as the fear of the Great Recession declines.

B

Sustainable marketing should be guided by five sustainable marketing principles. Of the​ following, which is NOT one of those​ principles? Question content area bottom Part 1 A. Build​ long-term customer value. B. Embrace a sense of mission. C. Be​ business-centric. D. Market with ethics. E. Do no harm.

C

The growth-share matrix defines four types of SBUs: __________ are high-growth, high-share businesses or products. ANSWER Dogs Question marks Stars Cash cows

C

Which is now the largest generation alive in the United​ States? Question content area bottom Part 1 A. Millennials B. Generation X C. Generation Z D. Baby boomers E. Generation Alpha

C

Which of the following actions helps a company find the game plan for​ long-run survival and growth that makes the most sense given its specific​ situation, opportunities,​ objectives, and​ resources? Question content area bottom Part 1 A. Financial and revenue planning B. Research and development planning C. Strategic planning D. Individual departmental planning E. Marketing planning

C

Which of the following is a valid concern when it comes to the four Ps​ concept? Question content area bottom Part 1 A. It is not helpful for​ not-for-profit companies. B. It does not include services. C. It may omit or underemphasize certain important activities. D. It does not include comprehensive elements from market strategy. E. It uses the​ buyer's view of the markets.

C

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. Question content area bottom Part 1 A. its research and development efforts B. individual department objectives C. its overall growth strategy D. its business portfolio E. revenue goals and objectives

D

A​ company's value chain is only as strong as its weakest link. What should a company do to properly gauge the strength of its links and continually​ improve? Question content area bottom Part 1 A. Determine the​ company's proper marketing mix and the​ team's ability to execute on it. B. Examine the various elements of the BCG​ growth-share matrix. C. Examine how well each group performs its work of adding customer value. D. Perform a business and product competitive analysis. E. Perform​ micro-environmental and​ macro-environmental analyses.

D

Environmental sustainability means​ ________. Question content area bottom Part 1 A. precisely following federal and state environmental regulations B. doing good deeds to atone for the strain that a business puts on the natural environment C. using fewer natural resources than​ one's competitors D. meeting present needs without compromising the ability of future generations to meet their needs E. sacrificing business success to protect natural resources

D

How is product development defined? A. It is company growth through starting up or acquiring businesses outside the company's current products and markets. B. It is company growth by identifying and developing new market segments for current company products. C. It is company growth by increasing sales of current products to current market segments without changing the product. YOU WERE SURE AND CORRECT D. It is company growth by offering modified or new products to current market segments.

D

In this age of customer value and​ relationships, the four Ps might be better described as the four As. What are the four​ As? Question content area bottom Part 1 A. ​Accessibility, Awareness,​ Analytics, Action B. ​Analytics, Accessibility,​ Awareness, Advertising C. ​Acceptability, Affordability,​ Accessibility, Analytics D. ​Acceptability, Affordability,​ Accessibility, Awareness E. ​Acceptability, Affordability,​ Action, Advertising

D

Market offerings​ ________. Question content area bottom Part 1 A. must result in the ownership of something B. do not include services C. are limited to physical products D. can be intangible E. satisfy​ needs, not wants

D

Market penetration is __________. company growth by identifying and developing new market segments for current company products company growth by offering modified or new products to current market segments company growth through starting up or acquiring businesses outside the company's current products and markets company growth by increasing sales of current products to current market segments without changing the product I DON'T KNOW YET

D

Nibbles Pet Food Corporation is in the process of developing its new market strategy. The marketing team has already established the​ company's niche product—​premium, organic dog and cat food—and contracted to sell it in several​ high-end pet stores. The team has also determined the optimum price to create value for customers and still make a profit. What does the marketing team need to do​ now? Question content area bottom Part 1 A. Determine the​ company's primary competition in the pet food market B. Determine the target market for the product C. Develop the formula for the organic pet food D. Create a promotion strategy to increase customer awareness E. Work on a line of​ leashes, pet​ brushes, and pet furniture

D

Of the​ following, which BEST reflects how the American population has changed over​ time? Question content area bottom Part 1 A. It has become​ wealthier, more​ cultured, and more frivolous in its spending habits. B. It has become closer knit and more​ family-oriented. C. It has become more likely to develop brand loyalty. D. It has become more​ diverse, better​ educated, and more mobile. E. It has become more skeptical about marketing schemes.

D

Question content area top Part 1 What is the main problem that sellers suffering from marketing myopia​ face? Question content area bottom Part 1 A. They focus more on the​ customer's experience than on the product itself. B. They focus on customer wants instead of demands. C. They focus more on profit than on the​ customer's benefit. D. They focus more on products than on the​ customer's underlying need. E. They focus on brand image to the detriment of quality.

D

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? Question content area bottom Part 1 A. Karin​ Petersen, an operations specialist who would be hired as the new chief operating officer B. Jose​ Gonzalez, one of the Sanchez​ family's best friends and a fellow entrepreneur who would come on as an additional chief executive officer C. Craig​ Moore, an extremely successful entrepreneur who is actually looking to acquire the company and grow the business exponentially D. Noah​ Lopez, a marketing specialist and expert who would be hired as the Sanchez​ family's new chief marketing officer E. Claudia​ Jimenez, a​ well-educated accountant who would begin working as the new chief financial officer

D

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? Question content area bottom Part 1 A. Butterfly B. True friend C. True believer D. Barnacle E. Stranger

D

Strategic planning is __________. the marketing logic by which the company hopes to create customer value and achieve profitable customer relationships the process of evaluating each market segment's attractiveness and selecting one or more segments to enter the process by which management evaluates the products and businesses that make up the company the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities

D

The difference between the marketing concept and the sustainable marketing concept is that the marketing concept​ _________. Question content area bottom Part 1 A. focuses on the future welfare of consumers and society B. embraces the principles of customer relationship management C. recognizes that companies thrive and grow by having​ long-term revenue goals D. determines and best satisfies the current needs and wants of target customers E. understands that companies need​ long-term planning

D

The real value of marketing information rests in the​ _________. Question content area bottom Part 1 A. support of a​ company's marketing research B. social media data it uses C. amount of big data it analyzes D. customer insights it provides E. marketing intelligence it uncovers

D

The​ ________ environment consists of institutions and other forces that affect a​ society's basic​ values, perceptions,​ preferences, and behaviors. Question content area bottom Part 1 A. technological B. economic C. demographic D. cultural E. political

D

Which of the following identifies a change in the technological environment that could affect the success of a​ business? Question content area bottom Part 1 A. A company develops a new battery that costs twice as much as its predecessor. B. A company develops a new warranty that lasts as long as its predecessor. C. A company packages its product to be twice the size of its predecessor. D. A company develops a new battery that lasts twice as long as its predecessor. E. A company develops a customer support program that customers rate twice as responsive as the previous program.

D

Which of the following is NOT a step in the strategic planning​ process? Question content area bottom Part 1 A. Creation of overall supporting objectives for the company B. Decisions regarding portfolio of business and products C. Development of individual detailed departmental plans D. Set revenue and financial goals E. Define overall purpose and mission

D

Which types of companies would most benefit from conducting marketing​ research? Question content area bottom Part 1 A. Only large multinational firms like Disney and IBM B. Only​ medium-sized companies that are about half the size of Disney and IBM C. Only small local​ firms, like​ Beatrice's Bistro D. Both large multinational firms like Disney and IBM and small local firms E. Neither large multinational firms like Disney and IBM nor small local firms

D

__________ is measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved. ANSWER SWOT analysis Marketing implementation Market targeting Marketing control

D

​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? Question content area bottom Part 1 A. Share of customer B. Partner relationships C. Customer loyalty D. Customer equity E. Customer lifetime value

D

​________ marketing calls for meeting the present needs of consumers and businesses while preserving or enhancing the ability of future generations to meet their needs. Question content area bottom Part 1 A. Global B. Cause C. Societal D. Sustainable E. Strategic

D

​________ products have neither immediate appeal nor​ long-run benefits. Question content area bottom Part 1 A. Salutary B. Marketing C. Pleasing D. Deficient E. Desirable

D

A new hardware company is writing its mission statement. Which of the following is the BEST mission statement possible for the new​ company? Question content area bottom Part 1 A. We will be the best hardware company in the world. No other company will ever outsell us. B. We embrace the deeper meaning of home and commercial improvements. C. We will have​ $2 million in profit by the end of our second fiscal year and twice that amount by the end of year five. D. We are providers of​ hardware, lumber-based, and appliance products to be used for home improvement and commercial construction projects. E. We will help customers​ build, invigorate,​ restore, refurbish, or completely redesign their homes or businesses

E

According to the sustainable marketing​ concept, a​ company's marketing objectives should support the​ __________. Question content area bottom Part 1 A. ​company's sense of mission B. overall strategic plans and revenue goals of the organization C. ​company's long-term revenue and profit goals D. ​company's value-based marketing objectives E. best​ long-run performance of the marketing system

E

According to the​ text, how has the internet MOST affected companies and​ customers? Question content area bottom Part 1 A. The internet has lowered prices. B. The internet has made creating an image more important. C. The internet has increased the potential customer base. D. The internet has made advertising easier. E. The internet has allowed consumers to take marketing content and share it.

E

Effective marketing is essential to the success of​ ________. Question content area bottom Part 1 A. exclusively​ large, for-profit firms B. just​ large, publicly-traded companies C. solely​ small, local businesses D. only​ not-for-profit enterprises E. every type of organization

E

How does the new concept of marketing differ from the old concept of marketing​ ("telling and​ selling")? A. The new concept requires less work from marketing executives. B. The new concept focuses on having a​ well-developed product. C. The new concept focuses on making money. D. The new concept is more cost efficient. E. The new concept focuses on customer needs.

E

The BCG and other formal methods​ ________. Question content area bottom Part 1 A. are decentralized approaches B. have had little to no effect on strategic planning C. are very inexpensive to implement D. provide extensive advice for future planning E. can be difficult and​ time-consuming to execute

E

The third purpose of government regulation is to​ __________. Question content area bottom Part 1 A. protect companies from each other B. protect consumers from unfair international trade C. punish companies for unlawful behavior D. regulate and constrain companies E. protect the interests of society against unrestrained business practices

E

Through sustainable​ marketing, both businesses and consumers​ _________. Question content area bottom Part 1 A. display trust in the marketing system B. embrace ethical values C. create a code of conduct D. are asked to​ "do no​ harm" E. are called to perform more responsible actions

E

What advice would you give a firm about how to respond to the changing marketing​ environment? Question content area bottom Part 1 A. Do not do anything until competitors respond. B. Accept the fact that things change and not much can be done about it. C. Watch environmental changes but react only when absolutely necessary. D. If the current strategy is​ working, there is no need to respond to environmental changes. E. Whenever​ possible, take a proactive approach to the environment.

E

What is the ultimate aim of customer relationship​ management? Question content area bottom Part 1 A. To establish brand equity B. To increase share of customer C. To produce high customer profitability D. To maintain high customer loyalty E. To produce high customer equity

E

When a company starts the strategic planning process at the corporate​ level, it begins by​ ___________. Question content area bottom Part 1 A. creating research and development plans B. defining its revenue objectives C. setting growth strategy goals D. formulating product innovation objectives E. defining its overall purpose and mission

E

Which type of marketing intermediary help the company stock and move goods from their points of origin to their​ destinations? Question content area bottom Part 1 A. Resellers B. Financial intermediaries C. Marketing services agencies D. Suppliers E. Physical distribution firms

E

Why is marketing return on investment​ (ROI) so difficult to​ measure? Question content area bottom Part 1 A. Marketers do not keep adequate records. B. The market economics constantly change. C. ​Customer-centered measures are inconvenient. D. Marketing dashboards are inconsistent. E. There is no consistent definition.

E

Wonders such as​ smartphones, driverless​ cars, and antibiotics can be attributed to which marketing​ environment? Question content area bottom Part 1 A. Cultural B. Political C. Natural D. Social E. Technological

E

You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In​ exchange, you receive a payment. You are participating in​ a(n) ________. Question content area bottom Part 1 A. immersion group B. individual interview C. ethnographic study D. experiment E. focus group

E

________ includes practices such as falsely advertising​ "factory" or​ "wholesale" prices or a large price reduction from a phony high retail list price. Question content area bottom Part 1 A. Excessive markups B. High advertising C. Deceptive promotion D. Deceptive packaging E. Deceptive pricing

E

​________ involves sending trained observers to watch and interact with consumers in their​ "natural environments." Question content area bottom Part 1 A. Behavioral targeting B. Social targeting C. Telephone interviewing D. A focus group E. Ethnographic research

E

​________ markets consist of individuals and households that buy goods and services for personal consumption. Question content area bottom Part 1 A. Government B. Reseller C. International D. Business E. Consumer

E

__________ is turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives.

market implementation

A __________ is a group of consumers who respond in a similar way to a given set of marketing efforts.

market segmentation

__________ is measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.

marketing control

Mission Statement describes the organizations _____________________

purpose

The growth-share matrix defines four types of SBUs: __________ are low-share business units in high-growth markets.

question marks