MKT 300 EXAM 1 HW PROBLEMS 1-6

CH.1 Fill in the words from the drop-down list that would best complete the passages. It is estimated that, on average, marketing costs account for _______% of overall product costs. These costs are not associated with manufacturing, product design, or any of the other _______ functions. Instead, the expenditures go toward the performance of ________ universal functions of marketing. Production, 50, eight

50, Production, eight

CH. 3 Fill in the blanks with the word(s) from the drop-down list that would best complete the passages: A. Vendors who sell essentially identical products or services are known as a firm's ________. B. Businesses compete indirectly when they produce goods and services that are _______ for those of another business. C. Dick's Donut Shop faced _______ competition when a Dunkin Donuts franchise opened across the street. D. Jan was planning to take her kids to Disney World, but decided instead to book a family-oriented cruise on Carnival Cruise Lines. The competition between Disney World and Carnival Cruise Lines is ________. direct, Substitutable, direct competition, indirect

A. Direct B. Substitutable C. Direct D. Indirect

CH.4 Fill in the blanks with the word(s) from the drop-down list that would best complete each passage: A. __________ measures how much time users spend on a website. B. The percentage of website visitors who make a purchase is known as ___________ . C. A(n) __________ is any time an ad is shown to an online consumer. D. For e-commerce sellers, the lower the _________ , the better. Engagement, Conversion, Impression, Conversion Cost

A. Engagement B. Conversion C. Impression D. Conversion Cost

CH. 3 Fill in the blanks with the word(s) from the drop-down list that would best complete the passages: A. Marketing ______ refers to a marketer's standards of conduct and _______. B. _______ is probably the most regulated aspect of marketing strategy. C. The question of channel control may pose a serious _______ issue. Pricing, ethical, ethics, Values

A. Ethics - Values B. Pricing C. Ethical

CH.4 Fill in the blanks with the word(s) from the drop-down list that would best complete the passage: A. UX refers to a customer's _______ when shopping on a website. B. An e-commerce website's ability to generate revenue is driven primarily by _____ and ______. C. Revenue maximization strategies on an e-commerce site seek to ________. Experience, Encourage repeat visits, Traffic, Conversions

A. Experience B. Traffic - Conversions C. Encourage Repeat Visits

CH. 3 The marketer cares very much about what people think, how they feel, what they believe, and how they live. Without this knowledge, marketing strategies will be destined for failure. The marketer must stay tuned in to the sociocultural forces in the marketing environment because these are the forces that will assist the marketer in understanding what people think, how they feel, what they believe, and how they live. The following passages describe some aspects of sociocultural forces. Fill in the blanks with the word(s) that best complete(s) each passage. A. Consumerism exerts legal, _______, and economic pressures on businesses. B. Changes in a population's ________ characteristics, like age and ethnicity, help define individual behavior. C. A major marketer of rice offers a range of varieties to satisfy the distinctive tastes of Chinese, Japanese, and Vietnamese consumers. By catering to its different Asian buyers, the marketer is demonstrating sensitivity to _______ diversity. moral, demographic, cultural

A. Moral B. Demographic C. Cultural

CH.4 Fill in the blanks with the word(s) from the drop-down list that would best complete the passage: A. The growth in online shopping is driven by a shift in consumer ____. B. In addition to competitive pricing, the top advantages of online shopping cited by consumers are ________ and ________. C. Many online shopping sites feature customer ________. Reviews, Preferences, Access and Convenience, Personalized Services

A. Preferences B. Access and Convenience - Personalized Services C. Reviews

CH.6 Fill in the blanks with the word(s) from the drop-down list that would best complete the passage. A. You buy Hershey's Kisses to consume on your own but choose a box of Godiva Chocolates for a gift. Your purchase is primarily influenced by _________. B. While some situational influences are created by marketers, others are _________. C. The common advice "Don't shop on an empty stomach!" recognizes the impact of _________ on consumer behavior. Uncontrollable, Purchase Reason, Mood State

A. Purchase Reason B. Uncontrollable C. Mood State

CH.5 Fill in the blanks with the word(s) from the drop-down list that would best complete the passage: A. Measuring the success of a social media marketing plan includes such factors as overall ________. B. _______ often leads directly to increased audience _______. C. Examples of endorsement-like audience engagement include ________ and _________. Shares, Re-Tweets, Reach, Engagement, Activity

A. Reach B. Engagement - Activity C. Shares - Re-Tweets

CH.4 Fill in the blanks with the word(s) from the drop-down list that would best complete the passage: A. _______ involves directions and procedures on how to return merchandise, including preprinted shipping labels that are included with the order. B. Regulations requiring social networking sites to get consent to use consumers' personal data have been adopted by the ________. C. _______ uses email or pop-up messages that falsely claim to be from familiar organizations in order to obtain personal information such as passwords, credit card, and bank account numbers. D. _______ is increasing, and so is the technology designed to detect or block it. Phishing, Reverse Logistics, Internet Fraud, European Commission

A. Reverse Logistics B. European Commission C. Phishing D. Internet Fraud

CH.6 Fill in the blanks with the word(s) from the drop-down list that would best complete the passage. A. Feeling rushed to leave an uncomfortably crowded store is an example of the ________ factor identified as ________. B. A young man whose girlfriend just agreed to marry him is more likely to buy expensive new shoes than he was before he proposed. The ________ factor influencing his purchase is ________. Situational, Mood, Situational, Physical Surroundings

A. Situational - Physical Surroundings B. Situational - Mood

CH. 3 The state of the macroeconomic environment has a significant impact on consumers' willingness and ability to purchase goods and services offered by companies. For example, when the macroeconomic environment is contracting (i.e., in recession), consumers may have difficulty finding jobs and earning money to fund their purchases. On the other hand, when the macroeconomic environment is expanding (i.e., GDP is growing), consumers are typically more confident about their personal finances and more willing to spend on goods and services. Fill in the blanks with the word from the drop-down list that would best complete the passages: A. To qualify as a recession, a period of economic contraction must last at least _______ months. B. When the economy slows, marketers are more likely to succeed with products that are _______ rather than ________. C. People might think that ______ is good for consumers because prices fall. However, this condition ultimately hurts the economy by causing _______. D. During a recession, consumers' buying power normally ________. Decreases, deflation, Premium-priced, six, value-priced, layoffs

A. Six B. Value-priced - Premium-priced C. Deflation - Layoffs D. Decreases

CH.2 You work for a not-for-profit organization that is committed to sustainable development and trains urban youth to develop eco-friendly businesses. As you study the organization's business plan and reports, you attempt to categorize the tasks and responsibilities you see presented. The following passages classify various tasks based on the categories of operational planning, tactical planning, and strategic planning. Fill in the blanks with the categories from the drop-down list that best complete the passages; each category may be used more than once. A. Applying for a sustainable development grant aimed at creating community gardens involves _______. B. Drafting programmatic reports on last year's Urban Youth Coalition Conference involves ________. C. Hiring a new chief executive officer (CEO) to usher in an era of micro-finance programs for entrepreneurial youth involves neither ________ nor tactical planning. D. Deciding whether the organization will merge with Grassroots, Inc., a multinational company involves neither operational planning nor __________. E. Scheduling staff to attend the morning plenary on the effects of globalization on the environment and climate change involves ___________. Operational Planning, Tactical Planning, Operational Planning, Operational Planning, Tactical Planning

A. Tactical Planning B. Operational Planning C. Operational Planning D. Tactical Planning E. Operational Planning

CH.5 Fill in the blanks in the following passages about social media marketing concepts using the words from the drop-down list. A. Content marketing is the creation of relevant and _____ material to attract and _______ an audience. B. Social media marketing _______ the audience participation in the message. C. Social media marketing content should focus on the _______, not the ________. Solicits, Audience, Organization, Targeted, Engage

A. Targeted - Engage B. Solicits, C. Audience - Organization

CH.2 Most successful firms have a clearly defined, well-written marketing plan that specifies the marketing activities to be performed to implement, manage, and evaluate its marketing strategies. The typical marketing plan has multiple components that include information about the company's marketing game plan. The following passages describe some of the components of the marketing plan and key information elements. Fill in the blanks with the word(s) from the drop-down list that best complete(s) the passages. A ________ assesses strengths and weaknesses within the organization and external opportunities and threats. The ______ component specifies what the company wants to accomplish with its marketing activities. The performance evaluation component establishes the _______ standards for evaluating the success of the company's marketing strategies. The marketing strategies component spells out how the company plans to achieve its marketing _______. measurement, objectives, marketing objectives, SWOT Analysis

SWOT Analysis, marketing objectives, measurement, objectives

CH.2 You work for a music CD distributor that specializes in rare albums that many other distributors do not carry. Because of mp3s, mp4s, and online music streaming and downloading sites, sales have decreased significantly. You realize that the Internet can either help your company or further hinder its mission and goals. You use Porter's five forces as a model to assess the impact of the Internet on your business; you look at potential new entrants, bargaining power of buyers, bargaining power of suppliers, threat of substitute products, and rivalry among competitors. Choose the impact of the Internet likely to make your business more challenging. a. Consumers can now find rare music online. b. The Internet highlights distinctions among competitors. c. The Internet increases barriers to entry.

a. Consumers can now find rare music online.

CH.6 A major element of a consumer's buying decision process is the level of problem solving that the consumer exhibits in the process. The level of involvement is higher for some purchases than for others. The marketer will want to tailor the marketing message according to the perceived level of involvement the consumer will have. Choose the scenario that illustrates routinized response behavior. a. Customer A just stopped at the grocery store to pick up some paper towels for his kitchen. b. Customer B is shopping for a new suit and is interested in trying one made by a new designer. c. Customer C is looking to buy a new car. He has been test-driving cars for the last three consecutive weekends. d. Customer D decides to buy a bottle of expensive wine for a special anniversary dinner. e. None of the scenarios illustrate routinized response behavior.

a. Customer A just stopped at the grocery store to pick up some paper towels for his kitchen.

CH.4 All these statements are true about the benefits of B2C digital marketing except which one? a. Customers can exchange products and services with other customers. b. Customers can typically find competitive pricing and promotions online. c. Customers can tailor the experience and/or product through personalization. d. 24-hour ordering of goods and services is facilitated.

a. Customers can exchange products and services with other customers.

CH.2 You work for a company that manufactures and distributes home design products directly to customers. Annually, the company executives facilitate meetings with middle and supervisory-level management to ensure that all staff are on the same page. This year, you have proposed that to ensure that all company employees understand the goals of the company, each person has to go through a list of tasks and decide whether top management, middle management, or supervisory-level management is responsible for that task. Which of the following tasks would most likely be the responsibility of middle management? a. Develop a tool to help track customer complaints about lost and late shipments. b. Tracking the company inventory and ordering raw materials to produce a new line of steel-frame bar stools. c. Assess infrastructural gaps in the community to determine how company can be socially responsible. d. Developing a community stewardship program aimed at engaging high school students in apprenticeship programs. e. Improving customer service relations. Hide Feedback

a. Develop a tool to help track customer complaints about lost and late shipments. c. Assess infrastructural gaps in the community to determine how company can be socially responsible.

CH. 3 You own an expensive restaurant and have a thriving business until the economic recession hits. Sales immediately plummet as your diners disappear. Some friends argue that a big advertising campaign focused on the quality of your food would bring the customers back, but you don't agree. Choose the statement(s) you'd use to accurately explain your point of view. a. During a recession, consumers limit expenditures on items that aren't necessary, like restaurant meals. b. Consumers are eager to spend during a recession to help stimulate the economy. c. Disparities between the rich and poor grow during recessions. d. During a recession, consumers are more likely to respond to discount deals than to ads touting the quality of a purchase that isn't a necessity.

a. During a recession, consumers limit expenditures on items that aren't necessary, like restaurant meals. d. During a recession, consumers are more likely to respond to discount deals than to ads touting the quality of a purchase that isn't a necessity.

CH. 3 Your company just attended a symposium on sustainability; and as company president, you are interested in raising the level of social responsibility in all that the company does, whether manufacturing goods, marketing, or offering services that improve the lives of individuals in the communities you serve. Which of the following steps can your company take to ensure that its practices are socially responsible? a. Eliminate the use of paper-based circulars and rely solely on Web-based and social marketing strategies to promote products. b. Invest in companies overseas that employ child laborers in order to cut expenses associated with manufacturing. c. Continue to package products and ship customer orders in plastic because it is a cheaper option. d. Test new products on rabbits, guinea pigs, and mice rather than conducting long-term trials on human beings or chimpanzees. e. Sell your company to a huge multinational conglomerate and allow it to outsource jobs that were previously done by locals.

a. Eliminate the use of paper-based circulars and rely solely on Web-based and social marketing strategies to promote products.

CH.1 You work for a multimillion-dollar supermarket chain whose executives have been strategizing around ways to enhance their relationships with customers. Which of the following steps would you take to address this need if your company is committed to the practices of the relationship era? a. Institute a loyalty program that rewards regular customers through a point system. b. Develop weekly Web-based newsletters that go out to customers. c. Establish a mobile application that allows customers to pre-order their groceries. d. Develop vibrant products that customers can only find at your company's retailers. e. Conduct a needs assessment and develop a product that customers want.

a. Institute a loyalty program that rewards regular customers through a point system.

CH. 3 The pyramid of corporate social responsibility states that there are four dimensions of social responsibility: economic, legal, ethical, and philanthropic. The socially responsible marketer accepts different responsibilities for each of these dimensions in terms of how she carries out her marketing activities. You have been asked to make a presentation to management that will highlight your company's ethical responsibilities. Which of the following topics do you plan to discuss? a. It is important to recognize that corporate integrity and behavior go beyond mere compliance with laws and regulations. b. It is important to maintain a high level of operating efficiency. c. It is important to perform in a manner consistent with expectations of government and law. d. It is important to provide assistance to private and public educational institutions. e. It is important to perform in a manner consistent with maximizing earnings per share.

a. It is important to recognize that corporate integrity and behavior go beyond mere compliance with laws and regulations.

CH.6 The time and effort that a consumer spends in making a decision regarding a purchase determines whether the item is a high-involvement or low-involvement purchase. Choose the scenario(s) that illustrate(s) a low-involvement purchase. a. Lorenzo buys his dog Iams dry food from PetSmart. b. Desiree purchases a latte from Starbucks with cashback bonus points on her credit card. c. Harrison is in the checkout line at the grocery store and puts a copy of Time magazine in his cart to buy. d. Mia test-drives both a truck and an SUV to see which better suits her needs and then decides to buy the SUV. e. Hara and Lath buy a property in foreclosure as an investment.

a. Lorenzo buys his dog Iams dry food from PetSmart. b. Desiree purchases a latte from Starbucks with cashback bonus points on her credit card. c. Harrison is in the checkout line at the grocery store and puts a copy of Time magazine in his cart to buy.

CH.1 Nike has been able to capitalize on its relationship with basketball star LeBron James, not only by endorsing him, but by also developing a LeBron James Collection composed of T-shirts, socks, basketball apparel, and sneakers. The LeBron X shoe line has been especially successful: When released, the base shoe was priced at about $180, while a version embedded with Nike-plus sensors—which track how high a player can jump and how far he or she can run—sold for $260. Which of the following statements about the LeBron X shoe line is NOT accurate? a. Nike's effort to sell the line is primarily an example of person marketing. b. LeBron James is a celebrity endorser of the shoe line. c. Embedding the shoe with sensors enhanced the effectiveness of Nike's product marketing. d. The LeBron X shoe line gets a boost from the fame of the basketball star. e. Nike's effort to sell the line is primarily an example of product marketing.

a. Nike's effort to sell the line is primarily an example of person marketing.

CH.6 There are three categories in the consumer's problem-solving behavior: routinized response behavior, limited problem solving, and extended problem solving. You are at the grocery store and realize you need to buy cheese for your mom's famous black-bean lasagna recipe. You typically purchase Kraft cheddar cheese, but you're wondering if you should buy the generic brand because it is a few dollars cheaper. If you use limited problem solving, which of the following actions would you take? a. Sample the generic brand and buy it because it's on sale. b. Buy the Kraft cheddar cheese you typically buy. c. Go home and do research about which cheese to purchase. d. All of the above actions involve limited problem solving. e. None of the above actions involve limited problem solving.

a. Sample the generic brand and buy it because it's on sale.

CH. 3 Venmo is a mobile application that enables people to send and receive money for free as long as they have a bank account, supported debit card, or a Venmo balance to fund payments. Venmo also allows the use of credit cards for a fee. To ensure security, the company uses bank-grade security systems and data encryption to prevent unauthorized transactions or access to personal information. Venmo operates as a mobile wallet, and though it provides services comparable to Western Union and PayPal, it can be managed through smartphones, thus appealing to a wide audience of retailers and others who depend on efficient money exchange. In an analysis of Venmo for your marketing class, you argue that it exemplifies how technological change creates marketing opportunities. What is the core of your argument? a. Technological change often enables companies to greatly improve customer service. b. Like Venmo, the best technological advances are uniquely suited to the existing economic environment. c. Technology always makes business less complex. d. Technology enables companies to respond more effectively to new regulations. e. Technology has reduced competition in the marketplace for most industries.

a. Technological change often enables companies to greatly improve customer service.

CH. 3 The legal and regulatory forces in the marketing environment consist primarily of laws that are enforced by a variety of agencies operating at the federal, state, and local levels of government. Which of the following laws and agencies is (are) incorrectly linked to an area of regulatory responsibility? a. The FDA prohibits adulteration of food, drugs, and additives. b. The FTC is responsible for regulating the fairness and honesty of business practices. c. The CPSA sets standards for business-to-business products. d. The EPA is responsible for regulating the impact of business activities on natural resources.

a. The FDA prohibits adulteration of food, drugs, and additives. c. The CPSA sets standards for business-to-business products.

CH. 3 You just got hired by the Federal Trade Commission, and you're the envy of all your friends. You feel good when you overhear your roommate describe your new job to another student. However, in his enthusiasm, he made a couple of mistakes. Which of the following points about the FTC did your roommate get wrong? a. The FTC operates at the state level as well as the federal level. b. The FTC sets safety standards for consumer products. c. Because of its enormous power, the FTC is known informally as the Federal Power Commission. d. The FTC has more power over marketing activities than any other federal agency. e. The FTC goes after false and deceptive advertisers.

a. The FTC operates at the state level as well as the federal level. b. The FTC sets safety standards for consumer products. c. Because of its enormous power, the FTC is known informally as the Federal Power Commission.

CH.6 Hiram's company fills over-the-phone catalog requests taken by its customer service center located in India. During a recent customer survey of U.S.-based consumers, the company became aware that many of its consumers had negative experiences when calling the customer service center with questions, concerns, or to place an order. The complaints have resulted because consumers have difficulty understanding customer service representatives because of language barriers. What is the best course of action for Hiram's company? a. The company could create a website that allows its consumers the option to order items online. b. The company could hire a U.S.-based marketing firm to revamp their image. c. The company could pay for billboards to try to attract a larger consumer base. d. The company could provide training for staff at the customer service center so they can better anticipate consumer needs. e. The company can tweet new items on Twitter when they become available or go on sale to encourage consumer purchases.

a. The company could create a website that allows its consumers the option to order items online.

CH.4 You are an e-business website consultant in Austin, Texas. You and professionals like you are playing an increasingly important role in helping companies optimize their e-commerce initiatives. You just signed a client who is mystified by his site's failure to generate revenue. Which of the following factors do you immediately identify as part of his problem? a. There is no measure of page-loading speed. b. Customer reviews are included on the site. c. There is high traffic on the site. d. The site has a prominent search bar. e. The site does not require customers to create an account

a. There is no measure of page-loading speed.

CH.2 You would like to invest in one of the profitable business units of a multinational corporation. In a meeting with management, you explain that you'll only consider a unit categorized, according to the BCG matrix, as a question mark. Here are your choices: Unit A has revenue of $27 billion and a profit of $6 billion. While its product is based on a new technology that is rapidly increasing in sales, the product currently lags the market share of competitors. Unit B has revenue of $30 billion and a profit of $7 billion. Its market share is strong and growing. While its product is based on an outdated technology, the product has a loyal following for now. Which of the corporation's two profitable units meets your criterion? a. Unit A. b. Unit B. c. Both Units A and B meet your criterion. d. Neither meets your criterion, because Unit A is a star and Unit B is a dog. e. Neither meets your criterion, because Unit A is a star and Unit B is a cash cow.

a. Unit A.

CH.2 From the following list of six marketing questions, choose those related to the Environmental & SWOT Analysis element of the marketing plan: a. What other products will my chips be competing with in the marketplace? b. How will I measure my success in achieving my sales objectives? c. What are the most popular chip snacks in my area, and how are tastes changing? d. What kind of advertising can I use to reach my target market? e. Who will be responsible for fielding questions from retailers and consumers?

a. What other products will my chips be competing with in the marketplace? c. What are the most popular chip snacks in my area, and how are tastes changing?

CH.6 You just moved into a new home and are in the market to purchase Internet services. Because you are in a hurry to set up your home office, you enter into a contract with the first provider whose commercial you see on television for your area, though you know there are at least three providers in the area. After the first month, you are unhappy with the service because your signal is continually low. Which of the following statements best describes what went wrong? a. You failed to evaluate different alternatives. b. You were too overwhelmed by the various choices you had. c. You waited too long to conduct the postpurchase evaluation. d. You weren't fully aware of the problem before making a decision. e. You spent too little time on your purchase decision because it was a low-involvement purchase.

a. You failed to evaluate different alternatives.

CH.6 Rebecca buys low-heeled shoes for a job interview at an accounting firm because low heels have been worn by every woman accountant she's met. Rebecca's shoe choice is primarily influenced by a: a. social factor. b. job characteristic. c. psychological factor. d. fashion preference. e. situational factor.

a. social factor.

CH. 3 You are the head of the corporate acquisitions team at a major biotech company in Atlanta, Georgia. Your team has identified a couple of attractive acquisition targets that you would like to recommend to the Board of Directors for consideration. However, before you make a recommendation, you want to make sure that none of the acquisitions will raise any regulatory issues. In order to evaluate all potential regulatory issues, which one of the following analytical actions should you have your team complete prior to making any recommendations? a. A thorough analysis of the provisions of the Wheeler-Lea Act b. A thorough analysis of the provisions of the Celler-Kefauver Act, the Clayton Act, and the Sherman Antitrust Act c. A thorough analysis of the provisions of the Consumer Product Safety Act d. A thorough analysis of the provisions of the Telecommunications Act e. A thorough analysis of the provisions of the Robinson-Patman Act

b. A thorough analysis of the provisions of the Celler-Kefauver Act, the Clayton Act, and the Sherman Antitrust Act

CH.4 Your company manufactures consumer electronics products. Historically, you have acted primarily as a wholesaler of these products. However, you now recognize there is a huge opportunity to market your products directly to customers via your own marketing website. You have decided to move forward with this strategy but you want to take steps to minimize any issues with your supply chain partners. In order to avoid any issues, which of the following do you need to take steps to mitigate? a. Spyware b. Channel conflicts c. Reverse logistics d. Phishing e. Encryption

b. Channel conflicts

CH.5 Scenario: You are a respected industry authority on social media tools and platforms used in marketing. You have been asked to write an article about these tools and platforms and how companies are using them in their social media marketing efforts. You have decided that a case study approach would work best to convey your thoughts about how social media tools and platforms are used in social media marketing by different firms. In your article, you will describe what five hypothetical companies would like to accomplish with social media. Your five hypothetical companies are as follows: Company A wants to create a virtual community where its customers share their daily experiences with the company's products and post their opinions about related topics. Company B intends to use Tumblr as a social bookmarking site. Company C wants to allow its customers and other users to post a steady stream of updates of varying lengths on products, services, and related subjects. Company D wants its customers to be able to save and manage links to other online resources. Company E wants to create a social media platform where its product experts can discuss features and planned enhancements to its current and future products. The following statements describe how these hypothetical companies should use social media platforms to meet their needs. Which statement is not accurate? a. Company A should create a social networking site to meet its needs. b. Company B is right to choose Tumblr for this purpose. c. Company C should create a blogging site to meet its needs. d. Company D should create a social bookmarking site to meet its needs. e. Company E should choose a blogging site over a microblog for its product experts to use to meet its needs.

b. Company B is right to choose Tumblr for this purpose.

CH.2 You have been hired to advise a food company that is considering whether it should sell one, both, or neither of its two breakfast brands. Here are the facts you are given: Brand A commands a market-leading share in the oatmeal category. A has a large and stable base of loyal customers. However, this category is unlikely to grow in the foreseeable future, as oatmeal preparation takes time and consumers are increasingly focused on convenience. Brand B is a market leader in the small but rapidly expanding category of grab-and-go breakfast wraps. However, it won't be easy to stay ahead of the competition; unless B is sold, the company will need to invest heavily in research and development of healthy fillings and innovative packaging. What is your best advice? a. Sell Brand A b. Do not sell either Brand A or Brand B c. Sell Brand B d. Sell Brands A and B

b. Do not sell either Brand A or Brand B

CH.5 When setting goals for a social media marketing (SMM) campaign, a firm should: a. Recognize that successful SMM efforts do not require much involvement by the audience. b. Identify their target audience before producing any content. c. Seek to control the content and the message received by an SMM audience. d. Not listen to what is said about the company or its products. e. Develop content then set goals.

b. Identify their target audience before producing any content.

CH.4 Scenario: Your company makes skiing equipment and apparel. You recently launched a number of new features and capabilities on your website that are aimed at the active skier target market. One of the most popular features is the one that sends an alert to skiers when forecasted weather conditions at their favorite ski venues are most favorable for skiing. There are also alerts that contain information about the size of daily crowds at these venues. Which of the following digital capabilities are you directing your head of marketing to base the strategy on? a. Right-time marketing b. Personalization c. Integrated marketing d. Alert marketing e. Global reach

b. Personalization

CH.5 Which of the following is true about the ethical issues marketers encounter in social media marketing? a. The potential for misinterpretation of social media messages is not a major concern. b. Privacy and accountability are constant concerns. c. When mistakes happen, smart social media marketers take a reactive approach. d. Since the relationship with the audience is online and public, confidentiality is not an issue. e. The ethical and legal issues are static in social media marketing.

b. Privacy and accountability are constant concerns.

CH.5 Social media platforms differ in the advantages they offer to marketers. Which of the following platforms is effective for distributing messages to influential users but ineffective for bringing users directly to an online store? a. Organic platform. b. Social bookmarking site. c. Social networking site. d. Distributional site. e. Blogging site.

b. Social bookmarking site.

CH.2 Your investment banker has presented you with the following list of business characteristics of a small company your company is considering acquiring: 1.Market leadership 2.Large inventories 3.Lack of management depth 4.Cost advantages 5.Management turnover 6.Excess manufacturing capacity relative to the market Based on this list of characteristics, which of the following statements is true? a. The list contains more strengths than weaknesses. b. The list contains more weaknesses than strengths. c. The list contains an equal number of strengths and weaknesses. d. This list contains only strengths. e. The list contains only weaknesses.

b. The list contains more weaknesses than strengths.

CH.2 You have been working as an intern for your father's construction company and have been asked to sit in on the company re-visioning meeting. Because this is your first time in a marketing planning meeting, you are somewhat confused about the jargon being used. One of the employees explains to you the difference between strategic planning and tactical planning, and asks you to provide examples so she can make sure you understand the concepts. Which of the following is an example of a strategic plan? a. Hire a new COO to guide company expansion b. Within the next 10 years, we want to open 20 locations c. Ensure that the company makes 35% profit annually for the next three years

b. Within the next 10 years, we want to open 20 locations

CH. 3 Marketers must continually acquire information about trends, events, and societal dynamics occurring in the marketing environment outside of the firm in order to identify and interpret potential positive and negative forces that may impact the firm's marketing strategies. The following statements provide examples of trends related to environmental forces. Which of these examples is correct? a. Decline in smoking and tobacco use throughout the world is related to economic forces. b. China's emergence as a world leader in manufacturing is related to demographic forces. c. Advances in biotechnology, cosmetic surgery, and cancer drugs are related to technological forces. d. Greater concern for privacy and personal information collection is related to social forces. e. China's emergence as a world leader in manufacturing is related to social forces.

c. Advances in biotechnology, cosmetic surgery, and cancer drugs are related to technological forces.

CH.4 You are an analyst in the sales and marketing department. You are currently working on a project to determine, which one of two social networking sites your company should advertise on. You suggested to your boss that the company should try both sites for three months then select one of the two based on some measure of website effectiveness. Your boss agreed to place an ad on each site then evaluate the effectiveness of the ads, in terms of percentage of visitors who see them, after three months. In this situation, which of the following measures of website effectiveness would be most appropriate? a. Web-to-shoppers b. Cost per ad c. Click-through rate d. Website traffic counts e. Engagement

c. Click-through rate

CH.5 Select all the statements that are true about social media's role in marketing. a. It is primarily a strategic planning tool. b. Most companies have a large but static social media presence. c. It is primarily a communication medium. d. Most companies are increasing their social media presence. e. Social media platforms are not effective for launching new products.

c. It is primarily a communication medium. d. Most companies are increasing their social media presence.

CH.1 Which one of the following statements best describes the basic goal of marketing? a. Marketing encourages people to maximize their disposable incomes. b. Marketing enhances consumers' lives through memorable advertising. c. Marketing creates value by providing different types of utility to customers. d. Marketing boosts the utility of company salespeople to customers. e. Marketing creates value by providing attentive customer service.

c. Marketing creates value by providing different types of utility to customers.

CH.1 Procter & Gamble wants to determine both the market share of Iams and the customer lifetime value of Iams buyers. These measurements are calculated based on different variables. Customer lifetime value calculations are complex, but are usually based on the frequency and dollar amounts of an individual customer's purchases, how long the relationship endures, how purchasing patterns change over the course of the relationship, the cost of servicing customers, the profitability of each customer over time, and whether existing customers bring in new customers through word of mouth or other means. A number of possible measurements are listed below. Choose those answers that are not focused on customer lifetime value. a. Change in the number of Iams products each customer buys each year. b. Number of years customers remain loyal to Iams. c. Number of competitors and how much pet food each competitor sells per year. d. Percentage of industrywide annual sales represented by Iams products. e. Percentage of customers who return products frequently or require intensive customer service interactions.

c. Number of competitors and how much pet food each competitor sells per year. d. Percentage of industrywide annual sales represented by Iams products.

CH.4 You are taking a crash course in e-business in order to compete for a plum job opening in the field. However, you missed the class on popular B2B e-business tools and asked a friend to give you her notes. Which of the following points were made during the session? a. Electronic Data Interchange facilitates collaboration among employees. b. Intranets are accessible through the firm's website by external customers, suppliers, or other authorized users. c. Private exchanges offer the ability to collaborate on projects and share information. d. Extranets help companies share information among employees.

c. Private exchanges offer the ability to collaborate on projects and share information.

CH.4 You recently assumed the role of head of digital marketing at one of the largest automobile manufacturers in the world. Your mission is to fully harness the power and potential of digital marketing to enhance the automobile purchasing experience of your customers. The first project you are working is code-named "You design it and we build it." The project entails giving the customer the ability to design their own vehicle on the company's marketing website. Specifically, the customer will be able to do the following: Choose the color of the car. Choose the engine size. Choose the upholstery. Choose the tires and the rims. Choose when and where the car will be delivered Which combination of digital marketing capabilities are you providing to your customers with this "You design it and we build it" project? a. Right-time marketing and integrated marketing b. Global reach and interactive marketing c. Right-time marketing and personalization d. Interactive marketing and integrated marketing e. Integrated marketing and personalization

c. Right-time marketing and personalization

CH.2 Shutterfly is an Internet-based image publishing service based in Redwood City, California, and is mostly known for its photo book line. Like other business firms, Shutterfly conducts a SWOT analysis of its internal strengths and weaknesses, and external opportunities and threats. Choose the SWOT analysis element that represents a Shutterfly strength. a. Instagram is looking for a company to partner with to help its users print their Instagram photos b. New social media photo-sharing sites are becoming popular. c. Shutterfly constantly upgrades its digital technology and apps. d. Amazon.com has teamed up with Snapfish to offer custom-printed photo books. e. Shutterfly has no physical storefronts.

c. Shutterfly constantly upgrades its digital technology and apps.

CH.2 A summer intern has been assigned to help you draft your firm's marketing plan. You are pleased, until you overhear her tell a coworker: "I'd like to work on either strategies or tactics, since there's no real difference between them." When you meet with the intern, you correct her mistake. Which of the following statements do you make? a. Tactics are longer-term courses of action, while strategies are shorter-term actions. b. Strategies are based on brand equity, while tactics are not. c. Strategies are longer-term courses of action, while tactics are shorter-term actions. d. Strategies are quantifiable, while tactics are not. e. Tactics are quantifiable, while strategies are not.

c. Strategies are longer-term courses of action, while tactics are shorter-term actions.

CH.5 Scenario: The CEO of your company sent you an email last week in which he praised you and your marketing team's efforts and success in utilizing social media to drive sales revenue increases in the last fiscal year. In the email, he admitted that he did not know much about social media. However, he believes it is a technological trend the company needs to embrace to create a competitive advantage. He wants to meet with you to discuss how you think social media will impact the company's customers and their buying behavior in the years to come, and what strategies can be used to take full advantage of this new paradigm. In preparation for the meeting, he would like for you to come prepared to discuss the following social media facts and figures he has gathered through his conversations with other CEOs in the industry: The majority of online consumers start with search engines when they are gathering information for a potential purchase decision. Sites like Facebook and YouTube can play an effective role in introducing new products. Consumers are increasingly sharing information about products and services on blogs and social networking sites. Online reviews are taken very seriously by a large majority of consumers. The impact of social media on buying behavior once varied by age, but is now the same across age groups. Which of the following statements would you make to the CEO in reference to errors within his social media facts and figures? a. Consumers are reluctant to share comments and opinions on social media because of legal liability concerns. b. Online reviews are ignored by most consumers. c. The impact of social media on buying behavior no longer varies by age. d. When gathering information for a purchase decision, more consumers start the process on social media sites than with search engines. e. Sites like Facebook, YouTube, and Twitter are used frequently to share information about existing products, but rarely to find new products.

c. The impact of social media on buying behavior no longer varies by age.

CH.2 Your best friend is a contestant on the game show Who Wants to Be a Millionaire? He just exercised one of his "lifelines" by calling you for help with a marketing-related question. Your friend reads the following question to you: Which one of the following statements about Porter's five forces model is true? a. An industry's long-term profitability will not be influenced by the forces described in the model. b. The model considers domestic but not global competition. c. The model does not include government power. d. The model includes federal government power, though it does not include state government power. e. The model includes supplier power, buyer power, and government power.

c. The model does not include government power.

CH.1 You have been hired as a marketing director for Terraineous, a hiking apparel and footwear company. Your most urgent problem is that sales of its newest product, a hiking boot, are failing to meet projections. In analyzing the situation, you learn that the company is falling short in customer service; no one has been designated to answer buyers' questions about how to clean and care for the boot. When you meet with the CEO, you want to pinpoint exactly which variable of the marketing mix is at the root of this problem. What should you tell her? a. The problem stems from the price variable, because if the boot is cheap enough people will expect little customer service. b. The problem stems from the promotion variable, because customer questions should be answered in ads and sales brochures. c. The problem stems from the product variable, because this variable may involve decisions about customer service. d. The problem stems from the training variable, because this variable addresses employee performance issues. e. The problem stems from the distribution variable, because the stores selling the boot should answer buyers' questions.

c. The problem stems from the product variable, because this variable may involve decisions about customer service.

CH.2 During their planning process, the staff at a well-known resort decide to try something they have never tried before. The director of marketing and the operations manager decide that it would be vital to have input from as many people and as many diverse perspectives in the planning process as possible. Thus, the company invites a mixture of loyal customers, community members, suppliers, and employees from different departments, and other partners to a town hall to discuss the company's next steps. Moreover, those who could not physically attend the meeting are asked to participate via a discussion set up through the company's social media platforms, including Twitter and Facebook, and via teleconferencing. During the meeting the facilitators discussed previous goals and how those goals could be achieved. Some of the strategies they had been using in the past to reach their targets did not work; consequently, they needed to outline new milestones to support the company's vision for the next 10 years. According to the scenario, which of the following is true? a. The scenario outlines an operational planning process because the meeting facilitators are mid-level employees who work closely with customers, company partners, and stakeholders. b. The scenario outlines a strategic planning process because the meeting facilitators invited a network of influencers to participate in the process. c. The scenario outlines a tactical planning process because the meeting facilitators are focused on developing objectives that support the company's 10-year vision. d. The scenario outlines a strategic planning process because the meeting facilitators are focused on the company's vision for the next 10 years. e. The scenario outlines a tactical planning process because the meeting facilitators were supervisory management-level staff.

c. The scenario outlines a tactical planning process because the meeting facilitators are focused on developing objectives that support the company's 10-year vision.

CH.6 Decorators Inc. has recognized a trend in the spending habits of young professionals in the 25-35 age groups. About 80% of the members in this group rent a condominium or loft space, and they look for ways to furnish and decorate their homes on a budget. Moreover, they are extremely busy and don't have a lot of extra time. The majority of these consumers tend to purchase items that are modern, chic, and reflect the image that they are successful professionals in the business world. Decorators Inc. hired you to design a marketing campaign that will appeal to young professionals. You have studied the purchasing behaviors of young professionals and decided on the campaign design that you are going to implement. Which marketing campaign would effectively appeal to young professionals? a. You set up in-store displays for the Decorators Inc. showroom floor with items that are modern and trendy. b. You set up a telemarketing department to outreach to your target market and to inform them about Decorator's Inc. c. You design a Facebook page for Decorators Inc. that features the homes of young professionals well known among their peers for trendsetting taste. d. You send out Decorators Inc. catalogs to all the high-rise buildings that cater to young professionals. e. You design 20%-off coupons that are given to each customer that makes a purchase to use on their next visit.

c. You design a Facebook page for Decorators Inc. that features the homes of young professionals well known among their peers for trendsetting taste.

CH.6 Choose the scenario(s) below where the consumer behavior is a function of a social factor. a. You buy an Audi sedan because the CEO of your company drives one. b. Your favorite color is blue and you buy a shirt in that color. c. You purchase a new smartphone from Verizon on the basis of your aunt's recommendation. d. You buy your fiancé an engagement ring because this is the tradition where you live. e. You buy a ticket to a movie you've already seen because people you work with are going to the movie.

c. You purchase a new smartphone from Verizon on the basis of your aunt's recommendation. d. You buy your fiancé an engagement ring because this is the tradition where you live. e. You buy a ticket to a movie you've already seen because people you work with are going to the movie.

CH.1 You have just graduated from college and are searching for jobs online. Your ideal position would be in cause marketing. Which of the following positions would come closest to your ideal? a. The Red Cross is looking for a major gifts coordinator to cultivate and facilitate major giving to the organization. b. A retail chain wants to hire someone to develop a series of winter holiday concerts at its stores. c. Your state's Department of Environmental Protection is seeking a candidate who will plan an ad campaign to promote the theme "Save Our Trees: Don't Waste Paper." d. A real estate marketing firm wants to hire a recent college graduate to create ads targeting millennial home buyers. e. Your state's Department of Tourism is recruiting marketers for an initiative to attract new employers to the state.

c. Your state's Department of Environmental Protection is seeking a candidate who will plan an ad campaign to promote the theme "Save Our Trees: Don't Waste Paper."

CH.5 All of the following are appropriate ways for a firm to measure the effectiveness of its social media initiatives except: a. By measuring engagement. b. By measuring activity. c. By combining measures of activity, engagement, and conversion. d. By measuring output. e. By measuring conversion.

d. By measuring output.

CH.4 The director of marketing at your company has asked an intern to determine if the firm's Facebook advertising is profitable. Being unfamiliar with the different measures of e-commerce profitability and success, the intern has come to you for advice. What should you advise her to do? a. Identify the sources of traffic on your site. b. Measure your company's Facebook ad impressions. c. Divide your conversion rate by the ad impressions. d. Divide the cost per click on your Facebook ad by your conversion rate. e. Study the general trends in Facebook ad costs.

d. Divide the cost per click on your Facebook ad by your conversion rate.

CH.6 Delectable Foods develops foods for the modern family that are nutritious and go easily from refrigerator to table. Their market research studies have shown that the goal of the modern family after a long day of work or school is to sit down together to a tasty and healthy meal that doesn't take long to prepare. Delectable Foods has marketed their newest dinner line to appeal to the modern family when they're shopping for groceries. Duran is shopping at the supermarket for groceries after work. He remembers that he needs to pick up dinner for his family, and while trying to be conscious of their caloric intake, he wants to make sure he buys something that his small children will like. Which of Delectable Food's new dinner options would most likely catch Duran's attention? a. 15-Bean soup with ham, cornbread, and salad. b. Low-fat glazed salmon with wild rice and vegetables. c. Grilled flounder with baked potatoes and a vegetable medley. d. Healthy chicken nuggets in fun shapes with fresh fruit. e. Nutrition-packed tofu with balsamic quinoa and spinach.

d. Healthy chicken nuggets in fun shapes with fresh fruit.

CH.6 Unwittingly, most consumers follow a defined process when purchasing goods and services. This process includes six steps, and the marketer must understand where the consumer is in this process in order to be successful with his or her marketing strategies. Choose the scenario that best describes the first step in the consumer buying decision process. a. Lexi purchased a set of tires two months ago and was told the tires would last for 30,000 miles. Lexi is checking the tread wear on her tires to see how they are holding up. b. Danu and his dad are test-driving cars to see which one would be best for him to commute to school. c. Garcella and Pablo just bought their first home. d. Michael accidentally ran over his bicycle when he backed out of his garage this morning, and he needs a bicycle for the road race he is participating in this weekend. e. Ophelia is considering purchasing a new washing machine. She visits the Consumer Reports website to check the ratings on the major brands.

d. Michael accidentally ran over his bicycle when he backed out of his garage this morning, and he needs a bicycle for the road race he is participating in this weekend.

CH.1 International retailer IKEA is known not only for value-priced furniture and home goods, but also for the unique children's playrooms and family cafeterias offered in all its stores. These amenities enhance which type(s) of utility for IKEA customers? a. Price b. Time c. Ownership d. Place e. Value

d. Place

CH.1 In a memo giving the time and date for your company's marketing strategy session, you see that the only topic on the agenda is "Promotion." Knowing that promotion is only one variable in the marketing mix, you contact the memo writer to suggest additional topics that will cover all the relevant variables. What topics do you suggest? a. Price, Product, and Target Market b. Product, Distribution, and Social Responsibility c. Product, Distribution, and Social Media d. Price, Product, and Distribution e. Social Media, Social Responsibility, and Product Design

d. Price, Product, and Distribution

CH.4 Scenario: You are the head of purchasing for a large automobile manufacturing firm in Detroit, Michigan. You are responsible for sourcing and purchasing hundreds of components, parts and other supplies from hundreds of different vendors around the world. You are leading a company-wide project with the primary objective of improving your firm's ability to collaborate with its vendors on projects and to share information with them more efficiently. Which of the following forms of e-business in the B2B market should you implement to achieve the objective of this project? a. Intranets b. E-Trading c. Electronic Data Interchange d. Private Exchanges

d. Private Exchanges

CH. 3 Marketers must continually assess changes in the competition and make changes in their own competitive strategy because the competitive environment often determines success or failure of a product. Which of the steps below can a marketer for a large retail discount store (e.g., Target, Walmart, Sears) implement as part of the store's competitive strategy as children are headed back to school? Choose the step that you think will be most profitable. a. Restrict the use of coupons and coupon codes to online shopping so that customers don't clog in-store checkout lines. b. Move the annual home goods White Sale from January to September. c. Run a Buy One, Get One Half-Price end-of-summer sandals and swimsuits campaign on local television stations. d. Run Early Bird Special discounts on end-of-summer weekends for local school supply lists, toiletries, and clothing. e. Offer a discount to parents who bring in their child's first-quarter report card.

d. Run Early Bird Special discounts on end-of-summer weekends for local school supply lists, toiletries, and clothing.

CH.4 Regarding the major ways of measuring an e-commerce website's success, all of the following statements are true except: a. The lower a site's conversion cost, the better. b. Dividing ad clicks by ad impressions yields click-through rate. c. Total number of unique visitors to a site is a more accurate measure of potential revenue than total number of visitors. d. Total number of visitors to a site is a more accurate measure of potential revenue than total number of unique visitors. e. The higher a site's conversion rate, the better.

d. Total number of visitors to a site is a more accurate measure of potential revenue than total number of unique visitors.

CH.5 From the list below, select any incorrect statements. a. Marketers can use social media to manage public relations crises. b. Marketers can use microblogs to answer customer questions. c. Marketers can increase the return on their social media investments by aligning social media messages with traditional marketing messages. d. Viral videos are not effective at generating sales or demand for a product. e. Marketers should be prepared for low conversion rates when they use social media to advertise to new prospects.

d. Viral videos are not effective at generating sales or demand for a product.

CH.1 For decades Superior Ski Hotel was a thriving New England resort, relying on families who returned faithfully year after year. Its marketers had complete confidence in the loyalty of their longtime customers, so their only promotional campaigns focused on attracting new customers by offering steep discounts on first-time stays. But as competition intensified, Superior began to lose business. Eventually the hotel was forced to close. Which of the following principles of relationship marketing did the company neglect? a. In the social media era, customer relationships are increasingly short-lived. b. While it's important to offer discounts, it's even more important to build brand awareness. c. Customer relationships are fragile in the face of strong competition. d. While it's important to attract new customers, it's even more important to encourage current customers to keep coming back.

d. While it's important to attract new customers, it's even more important to encourage current customers to keep coming back.

CH.4 You have been hired by a successful but somewhat old-fashioned retailer with a new CEO who is anxious to get involved in B2C e-commerce. However, he needs to convince the board of directors that online shopping is more than just a fad. All of the following arguments are valid for him to use except which one? a. Customers will be able to compare your low prices to the high prices of your competitors. b. Customer satisfaction can be enhanced because the firm will be able to offer service tailored to customers' needs. c. It would allow customers around the world to order goods from you at any hour of the day or night. d. While most consumers still prefer traditional brick-and-mortar shopping, analysts predict that this preference will change in the coming decade.

d. While most consumers still prefer traditional brick-and-mortar shopping, analysts predict that this preference will change in the coming decade.

CH.5 Content marketing involves creating and distributing relevant and targeted material to attract and engage an audience, with the goal of driving them to a desired action. Content for an effective SMM campaign has the following qualities except which one? a. A strong brand focus. b. Share-worthy text and images. c. Targeted keywords. d. A focus on the audience rather than the organization. e. A focus on product sales.

e. A focus on product sales.

CH. 3 Marketers must pay attention to changes in sociocultural forces in order to send effective marketing messages to their target market. Sociocultural forces occur incrementally, making it easy to miss the shift until it is fully integrated. These can include a change in population characteristics such as age, gender, ethnicity, income, education, and marital and parental status. The degree to which these changes take place determines the amount of diversity present in a particular market, which, in turn results in different consumer buying behaviors. Cultural values affect the way people think about and make purchases, and largely result from one's family. Consumerism is a movement to protect consumers' rights, whose values can be heard from individuals, organizations, or groups. Which of the following statements provides a correct example of consumerism? a. A company decides to offer an all-natural, locally sourced, organic version of their most popular product offerings due to a change in consumer demand. b. As more people migrate to the United States, some marketers are shifting their product offerings and marketing messages to appeal to the values of new consumers. c. Consumers have shifted back to cooking meals together as a form of socializing, but still crave convenience, so some companies are offering direct mail meal prep boxes. d. A company decides to make a sponsorship deal with a popular older celebrity in order to appeal to the aging characteristic of its consumers. e. A snack and beverage company is reacting to consumer complaints about high sugar content in their products.

e. A snack and beverage company is reacting to consumer complaints about high sugar content in their products.

CH.6 Marketers are concerned with the behaviors consumers exhibit and the decisions they make when purchasing a product or service. Likewise, they are concerned with the decision-making processes that change over time. A consumer's self-concept is also important to marketers. Choose the situation that involves self-concept theory. a. A consumer is hungry and buys a doughnut from Krispy Kreme after seeing the flashing "Hot and Now" sign in the shop window. b. At the grocery store, you walk by a person giving out samples and a coupon for potato chips next to the display of the same chips. c. A catalogue clothing item that a consumer bought on clearance is sent with a buy-one-get-one-free coupon. d. You see an ad that says you can trade your old cell phone for the latest model and get a rebate for the old phone, so you decide it's time to trade-up. e. A woman purchases a brightly colored dress she saw in a fashion magazine despite the fact that she normally wears conservative clothing.

e. A woman purchases a brightly colored dress she saw in a fashion magazine despite the fact that she normally wears conservative clothing.

CH.1 There's Nothing Like Knitting is a unique new shop that sells unusual varieties of wool. Thanks to heavy advertising leading up to its grand opening, the shop was crowded with eager knitters during its first two weeks. But suppliers were late in shipping their products, so TNLK soon ran short of merchandise. The owners brought backup goods from their warehouse, but the ceiling of the flimsy storage building had leaked and the wool was wet and moldy. Angry customers demanded refunds and didn't come back. Now TNLK is on the brink of bankruptcy. TNLK's problems reflected breakdown in which of the functions of marketing? a. Risk taking and transporting b. Storing, selling, and standardizing c. Buying, selling, and risk taking d. Selling e. Buying, transporting, and storing

e. Buying, transporting, and storing

CH.2 The Marketing Objectives section of the marketing plan provides critical guidance for the organization's marketing activities. However, this section cannot stand alone; marketers also need the insights contributed by other sections. Which of the following statements describes information that the Marketing Objectives section of the marketing plan leaves out? a. Promotional tools to be used b. How success will be measured c. Competitors emerging abroad d. Consumer groups to be targeted e. Competitors to watch

e. Competitors to watch

CH. 3 You work for an automobile manufacturing company whose sales have been low as a result of the economic downturn. Company executives are strategizing as to how to stimulate sales. Which of the following steps should they take to improve business? a. Increase prices and offer more promotions. b. Decrease prices and eliminate promotions. c. Decrease prices and offer fewer promotions. d. Increase prices and offer fewer promotions. e. Decrease prices and offer more promotions.

e. Decrease prices and offer more promotions.

CH.5 Scenario: You are the head of sales and marketing for a consumer products company. You delegated responsibility for developing a social media marketing (SMM) campaign to one of your best managers because you thought she understood what is required. You asked her to develop some guidelines for how the campaign should be developed and meet with you to discuss her recommended approach. The manager emailed you the following list of guidelines: Developing the campaign should begin by choosing platforms and sites. Social media posts can be used for more than promotion and publicity. Potential customers exposed to social media promotions will be ready to buy as soon as they learn what your company offers. In the event of a public relations crisis, social media can be effectively applied to help defuse it. Which of the following statements should you make to correct the manager's mistakes? a. Unlike traditional promotion, social media promotion usually produces instantaneous sales. b. There's no need for corrections: The list of guidelines doesn't have a single mistake! c. Social media posts should be used only to promote a product or publicize a sale. d. While social media is highly effective for promotion and engagement, it is of little value in defusing a public relations crisis. e. Developing a campaign should begin by establishing specific goals, not by choosing platforms and sites.

e. Developing a campaign should begin by establishing specific goals, not by choosing platforms and sites.

CH.4 If the government agency that you work for wishes to implement a system that allows for computer-to-computer information exchanges between buyers and sellers, which of the following forms of e-business in the B2B market would be most appropriate? a. Intranets b. E-Exchange c. Private Exchanges d. Private Exchanges and Intranets would both be appropriate. e. Electronic Data Interchange

e. Electronic Data Interchange

CH.4 If your company wishes to communicate a consistent message to its customers with its traditional marketing and digital strategies then it should focus on which of the following opportunities of digital marketing? a. Right-time marketing b. Interactive marketing c. Global reach d. Personalization e. Integrated marketing

e. Integrated marketing

CH. 3 Marketing ethics and social responsibility are important to the success of marketing strategies. Marketing ethics defines the principles and standards that define acceptable conduct in marketing. Which of the following decisions is not related to marketing ethics? a. A decision needs to be made to determine how much a salesperson can spend on entertainment for customers. b. A decision has to be made to begin labeling your company's potato chips as natural, even though they are no healthier than the average potato chip. c. The firm's sales manager tends to overlook a salesperson's questionable sales tactics because her sales results are high. d. The Director of Marketing wants to put the word organic on the new packaging label because it is a buzzword, but the product is not organic. e. The Director of Marketing wants to withdraw a product because it is no longer profitable or competitive.

e. The Director of Marketing wants to withdraw a product because it is no longer profitable or competitive.

CH.5 A new store opens in your city. This store opening is likely to prompt you to use social media in all of the following ways except: a. To share your opinion of the new store's merchandise. b. To identify new products being introduced in the store. c. To research what the new store carries. d. To share your opinion of the store's employees. e. To dispute your first bill from the new store.

e. To dispute your first bill from the new store.

CH.1 The central focus of the marketer's activities is to develop mutually beneficial relationships with customers and potential customers. If the marketer is able to convince the customer to buy the firm's products, then the customer's lifetime value to the firm is enhanced. Marketers also seek to encourage customers to _________________ the firm's products because that will ____________ the customer's lifetime value to the firm. Which of the following terms/words best express what marketers should do to enhance a customer's lifetime value to the firm? a. give strong word-of-mouth recommendations about; stabilize b. give passive word-of-mouth recommendations about; maintain c. critique; increase d. critique; maintain e. recommend; increase

e. recommend; increase

CH.2 Milagros works for a major manufacturer and distributor of Caribbean foods and products as a marketing strategist. Milagros and her team are brainstorming some ideas that can help the company stay competitive as it expands. Fill in the blanks with the word(s) from the drop-down list that would best complete the passage. As the company plans to expand globally, Milagros and her team must engage in ______, the process through which they decide their price points, which products they are going to carry at their flagship stores around the world, and the company's promotional campaigns. As Milagros's team outlines their short- and long-term _______, they also have to map out the ______ that will help them reach their targets. Milagros notes that the CEO of the company has a seven-year vision and ________ for the company, so all of their activities must be in alignment with those proposals, and they must make sure that they have enough funds and resources to implement their ideas. One of the other employees reminds the team that ________is just as critical because it will help the company build the foundation in the immediate future to reach longer-term goals. Goals, tactical planning, objectives, marketing planning, strategic planning

marketing planning, goals, objectives, strategic plans, tactical planning

CH.2 You work for Emerita's Pizzeria and have been given the task of looking at company goals and deciding how the goals will be accomplished. You understand that planning is a complex process, but you are up for the challenge. Fill in the blanks with the word(s) from the drop-down list that would best complete the passage. Nicolai, the owner of Emerita's Pizzeria, informs you that during the _______ process, company stakeholders asked themselves the following question: Where do we want the company to be in five years? The ________ staff decided to focus on recruiting new clientele, increasing profitability and productivity, and finding ways to give back to the community. To achieve these goals, all of the company's staff, stakeholders, and customers needed to be on board. You realize that as a ________ employee on the frontlines, your interaction with customers is going to be especially important because you are a representative of the company. You also realize that during ________, it will be critical to figure out ways to monitor customer satisfaction on a day-to-day basis. Perhaps, it would be useful to use social marketing as a tool to engage customers. Nicolai informs you that he will be meeting with _________ staff to decide on the best ways to support larger company goals. One of the items Nicolai hopes that his staff will focus on during ________ is coming up with new tools to expedite the pizza-making process and procedures that cut costs. top-level, strategic planning, operational planning, low-level, mid-level, tactical planning

strategic planning, top-level, low level, operational planning, mid-level, tactical planning

CH.2 You are conducting an analysis of competitive forces facing the pharmaceutical company you work for. You're especially struck by the fact that companies in your industry generally need government patents and approvals from the US Food and Drug Agency before they can legally market many of the most profitable products. These realities primarily influence the competitive force identified in Porter's five forces model as _______, which is based on the ________ for entering a market or industry. Fill in the blanks with the words from the drop-down list that would best complete the preceding sentence. level of difficulty, threat of new competitors

threat of new competitors, level of difficulty