MGT 3300 Quizzes

The center of all marketing efforts is A. profits. B. the consumer. C. corporate social responsibility. D. top management. E. the firm.

B. the consumer

The three types of buying situations: a. Call for different marketing and selling strategies b. Require business sellers to be consistent in their marketing mixes c. Suggest that B2B sellers should develop one marketing mix to use for all situations d. Create confusion among B2B sellers e. Are theoretical and have little relation to what happens in the real world

a. Call for different marketing and selling strategies

B2B buying decisions are often made by a. Committees b. Governors c. Consumers d. Resellers e. Influencers

a. Committees

Through analysis of sales data, Price-Cutters retail store found that customers who bought peanut butter also tended to buy bananas. Price-Cutters was engaged in a. Data mining b. Structured sampling c. Syndicated surveying d. Behavioral analysis e. Focus group analysis

a. Data mining

Segmentation, targeting, and positioning a. Are optional elements of a marketing plan b. Should be done simultaneously so synergies can help streamline the effort c. Are part of a firm's marketing strategy d. Are terms that can be used interchangeably in developing marketing plans e. Are part of the marketing plan but bear little direct relationship to the marketing mix

c. Are part of a firm's marketing strategy

Which of the following is not an element of the factors affecting consumers' search processes? a. Perceived benefits versus perceived costs of search b. Actual risk c. Functional versus psychological need d. Locus of control e. Perceived risk

c. Functional versus psychological need

Which of the following statements regarding brand loyalty is NOT true? a. Firms tend to reward loyal customers with extra benefits. b. Brand loyal customers do not need persuasion to buy the firm's brand c. The marketing costs of reaching loyal customers are typically very high d. Brand loyal customers generate positive word of mouth e. Brand loyal customers are unlikely to switch to a competitor's brand

c. The marketing costs of reaching loyal customers are typically very high

Elena is in the process of buying a new car. There are many possible cars to choose from, but she is focused on a few she would actually consider buying. These make up her _____ set a. Retrieval b. Immediate c. Focus d. Evoked e. Universal

d. Evoked

Jennifer's spending decisions are heavily influenced by her family, her peers, and her religious education. These influences on her spending decisions are all _____ influences a. Evoked set b. Psychological risk c. Cognitive need d. External social environment e. Physiological need

d. External social environment

Which of the following research methods would be best in helping a marketer understand how people feel about a product or service on an individual, detailed level? a. Social media monitoring b. Focus groups c. Surveys d. In-depth interviews e. Primary data mining

d. In-depth interviews

Using the BCG portfolio analysis, a "dog" should be phased out unless a. The market has a small chance of rebounding b. Its marketing manager is a champion of the product c. Additional resources could increase its relative market share slightly d. It compliments or boosts the sales of another product e. None of these. Dogs should be phased out

d. It complements or boosts the sales of another product

Marketers must determine the price of a product carefully based on the potential buyer's beliefs about a. The economic outlook b. The cost to manufacture the product c. The product's new advertising campaign d. Its value e. The environment

d. Its value

___________ is the number of items within a product line. a. Brand equity b. Product line breadth c. Product mix breadth d. Product line depth e. Product mix depth

d. Product line depth

When a t-shirt manufacturer states, "customers can have any color t-shirt they want, so long as it's blue", it is reflecting a view that was popular in which era of the marketing evolution? a. Sales-oriented b. Economics-oriented c. Market-oriented d. Production-oriented e. Value-based marketing

d. Production-oriented

Beverage companies often use television commercials with images of young people laughing and enjoying themselves on a beach or in a club. These images are designed to appeal to consumers' _____, suggesting "be like me". a. Benefit perceptions b. Geographic choices c. Loyalty references d. Self-concepts e. Demographics

d. Self-concepts

The first questions a marketing researcher should ask before embarking on a research study is a. What is the due date? b. Should we use structured or unstructured questions? c. What sample size will be needed? d. Will the research be useful? e. Who will pay for it?

d. Will the research be useful?

If a firm wants to develop a sustainable competitive advantage, it should a. Arrange to meet with competitors to discuss ow to avoid direct competition b. Examine its operations and customer relations to identify significant things competitors cannot easily copy c. Begin an aggressive campaign to buy up competitors d. Copy the innovative features of other firms that are attractive to customers e. Increase its marketing budget so that it outspends its competitors

b. Examine its operations and customer relations to identify significant things competitors cannot easily copy

Four frequently used targeting strategies are the micromarketing, undifferentiated, differentiated, and _____ targeting strategies. a. Economic b. Global c. Geographic d. Benefit-based e. Concentrated

e. Concentrated

The difference between a firm's immediate marketing environment and its macroenvironment is that the macroenvironment a. Has fewer components b. Is internal c. Is easier to control d. Is easier to understand e. Is external

e. Is external

The marketing goal of getting the "right quantities to the right locations, at the right time" relates to a. Capturing value b. Communicating the value proposition c. Managing price and performance d. Performing service marketing e. Managing the supply chain

e. Managing the supply chain

A wholesaler is an example of a a. Reference group b. Manufacturer c. Merchandiser d. Retailer e. Reseller

e. Reseller

As part of her company's SWOT analysis, Valerie is assessing the company's internal environment, including a. Opportunities and threats b. The economy c. Demographics d. Competition e. Strengths and weaknesses

e. Strengths and weaknesses

For some products, marketers can combine education level with other data like occupation and income to obtain a. A sense of consumers' regional culture b. The educational value equation c. Consumers' value sensitivity quotient (VSQ) d. Complete profiles of individual consumers e. Useful predictions of purchase behavior

e. Useful predictions of purchase behavior