MKTG 3104 Ch 1-9
There are five steps involved in segmenting and targeting a market. What should a marketer do once she has developed a market-product grid and estimated the size of markets? execute marketing program actions group both potential buyers and products to be sold identify market needs position the product select target markets
select target markets
The bike-sharing service ofo has 200 bicycles on Nasim's college campus. He has a subscription to the service so he can simply check out a bike at one of the "boxes" painted on the concrete sidewalks on campus and return it to any box at a later time. The service encourages appropriate behavior with the bikes through a point system. Providing bikes at boxes on campus would constitute which element of the marketing mix for ofo? 1. place 2. profit 3. process 4. promotion 5. physical environment
1. place
Sarai volunteers at an elementary school tutoring students in math. She spends each Monday afternoon helping out, and she usually feels great about it because she contributes to her community. Is this an exchange? 1.Yes, because the sorority promotes itself as being charitable. 2. Yes, because tutoring is exchanged for something of value—a good feeling. 3. No, because the sorority is a nonprofit organization. 4. No, because no money was exchanged. 5. No, because Sarai did not receive a tangible product, such as a "thank you" gift.
2. Yes, because tutoring is exchanged for something of value—a good feeling.
When the temperature outside drops below 30 degrees and you need to walk your dog, marketers might say you have ________ to put on a coat. 1. a preference 2. a need 3. a mode 4. an orientation 5. a desire
2. a need
Though the percentages are not always the same, a general rule in business says that the large majority of a firm's revenues come from what percent of its customers? 5 percent 20 percent 35 percent 50 percent 80 percent
20 percent
Marketing expertise is gained: 1. only through careful study of relevant marketing success stories. 2. primarily by large firms with many years of experience; it is practically impossible for entrepreneurial start-up companies to achieve it. 3. by even the average person, who has a great deal of shopping experience. 4. typically through a comprehensive study of product failures. 5. most often by mentoring from experienced marketing professionals.
3. by even the average person, who has a great deal of shopping experience.
Which of the following is the most important reason that tobacco companies should not consider preteens to be in the market for their products? 1. Marketers should only target adults, regardless of the product. 2. Evidence shows that preteens have no desire to purchase these products. 3. Tobacco products do not satisfy any unmet needs for preteens. 4. Preteens do not have the ability to buy because of legal restrictions. 5. The preteen market is already heavily targeted.
4. Preteens do not have the ability to buy because of legal restrictions.
Marketers provide value to the consumer and other stakeholders by doing all of these with their offerings except which? 1. delivering 2. creating 3. exchanging 4. financing 5. communicating
4. financing
The 4 Ps of the marketing mix include product, price, place, and 1. persuasion. 2. profit. 3. process. 4. promotion. 5. personalization.
4. promotion.
________ can be thought of as the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings. Shared beliefs Corporate values Trade ethics Business culture Societal norms
Business culture
For-profit organizations pursue several different types of goals such as profit, sales, market share, quality, customer satisfaction, employee welfare, and social responsibility. Which of these statements is most accurate? Customer satisfaction goals are known to increase costs and reduce profits. Selecting a market share goal is only meaningful if you first make profit a goal. A business firm should select only one business goal so it can maintain focus. Social responsibility and employee welfare goals are reserved for nonprofit organizations. If profits are acceptable, a company may elect to maintain or increase its sales even though profits may not be maximized.
If profits are acceptable, a company may elect to maintain or increase its sales even though profits may not be maximized.
Which two of the following demographic segmentation variables would firms use to segment organizational markets? usage rate and type of outlet global region and statistical area zip code and NAICS code lifestyle and statistical area annual sales and number of employees
annual sales and number of employees
Consumer ________ helps answer questions such as why people choose one product or brand over another, how they make these choices, and how companies use this knowledge to provide value to consumers. search patterns efficiency routines behavior life cycles
behavior
________ marketing is the marketing of products and services to companies, governments, or not-for-profit organizations for use in the creation of products they can produce and market to others.
Business-to-business
During the alternative evaluation stage of the organizational buying process, which of the following is most likely to occur? A supplier's performance is formally evaluated. The buyer experiences cognitive dissonance. The buyer and seller negotiate the terms of the contract. Buyer personnel visit with suppliers to assess their facilities. Individuals outside the purchasing department are consulted for the first time.
Buyer personnel visit with suppliers to assess their facilities.
The dynamics of world trade are evolving; ________ is now the largest country measured by world trade. China Germany India Brazil the United States
China
Which of the following is a commonly used organizational buying criterion?
past performance on previous contracts
________ often assist companies and their employees with ethical issues by formally addressing contributions to government officials and political parties, customer and supplier relations, conflicts of interest, and accurate recordkeeping. Mission statements State and local laws Codes of ethics Legal handbooks Self-regulations
Codes of ethics
________ are a marketer's product, service, or brand points of contact with a consumer from start to finish in the purchase decision process. Buying centers Social networks Consumer journey maps Consumer touchpoints Pain points
Consumer touchpoints
________ is a grassroots movement started in the 1960s to increase the influence, power, and rights of customers in dealing with institutions. Citizen Advocacy Food and Drug Safety Organization Elitism Consumerism
Consumerism
All of the following are part of the five-step marketing research approach except which? Take marketing actions Investigate the competition Develop the research plan Develop findings Define the problem
Investigate the competition
All of the following are true of a salesforce survey forecast except which? Salespeople estimate sales during a forthcoming period to create the forecast. It can be too low if a salesperson worries about meeting a sales quota. It is a more rigorous form of linear extrapolation. It can be too optimistic if a salesperson is overly enthusiastic about a new product. It may be influenced by a salesperson's future compensation.
It is a more rigorous form of linear extrapolation.
Which of the following is a reason that online buying is so prominent in organizational markets?
Necessary information, such as product availability, specifications, and delivery schedules can be conveyed quickly.
________ synergies are represented by multiple filled boxed running vertically down the market-product grid, representing an opportunity for efficiency in research and development (R&D) and production. Market Product Sustainable Supplier Competitor
Product
Research shows that ________ is the single most important factor for a new product to defeat competitive ones—having superior characteristics that deliver unique benefits to the user. market attractiveness a distinctive point of difference good execution of the marketing mix a complete market and product protocol economical access to buyers
a distinctive point of difference
The Census Bureau is an example of an industry. a nonprofit organization. a board of directors. a government agency. a business firm.
a government agency.
When companies price their products very high in some countries but competitively in others, they face which problem? a gray market dumping bribery economic espionage protectionism
a gray market
A cohesive marketing mix and the related budget comprise core competencies. the organizational culture. the basic marketing evaluation criteria. the target market. a marketing program.
a marketing program.
Current cultural values commonly held in the United States are the belief in fate, focus on the future, and acceptance of birthright. action, equality, and competition. the need for stability, importance of tradition, and a focus on family. efficiency, material comfort, and a focus on group welfare. achievement, external control, and a focus on the present.
action, equality, and competition.
When performing ________ of the marketplace, you might uncover key trends such as the growing popularity of brand advocates, the increasing application of virtual reality and augmented reality, and the surging scrutiny regarding the collection and use of consumer data. a trend analysis an organizational inquiry an environmental scan primary research a threat assessment
an environmental scan
When a pharmaceutical company purchases a new fleet of Toyota Priuses for its sales staff, each of whom travels many miles daily on client visits, the company is considered an ultimate consumer. a reseller. an organizational buyer. a marketing channel. an entrepreneur.
an organizational buyer.
The Foreign Corrupt Practices Act of 1977 made what practice illegal? bribing an official of a foreign government to obtain business in that country selling goods or services to the countries of Cuba or North Korea using contacts in foreign countries to perform corporate espionage on competitors selling products through unauthorized channels in foreign countries selling products at prices other than the manufacturer's suggested retail price in foreign countries
bribing an official of a foreign government to obtain business in that country
In the new-product development process, the ________ stage assesses the total "fit" of the proposed new product with the company's mission and objectives—from whether the product or service can be economically produced to the marketing strategy needed to have it succeed in the marketplace. idea generation screening and evaluation business analysis development commercialization
business analysis
Customer relationship management (CRM) is the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will behave ethically. new needs can be created by marketers. buyers will choose them and become advocates. the organization's goals are more transparent. social awareness will be improved among the general public.
buyers will choose them and become advocates.
A benefit of performing a SWOT analysis and an environmental scan during the new-product strategy development process is that they allow the firm to forecast potential sales and form their marketing budget based upon those projections. help identify which organizational members have an interest or stake in the product's success. can help identify the strategic role the new product might serve in the firm's portfolio. narrow the task to a single product rather than a number of product concepts. allow a firm to expand its objectives to include new ways of thinking.
can help identify the strategic role the new product might serve in the firm's portfolio.
Walmart has been opening Walmart Neighborhood Market stores that are one-fifth the size of its supercenters and intended to compete with stores like Dollar General. One risk to this effort is aggregation. cannibalization. segmentation. differentiation. positioning.
cannibalization
Before Pepsi-Cola stamped freshness dates on its cans, few consumers considered cola freshness an issue. After Pepsi spent about $25 million on advertising and promotion, a consumer survey found that 61 percent of cola drinkers thought it important. This is an example of using which attitude change strategy? changing beliefs about the extent to which a brand has certain attributes encouraging the consumer to use stimulus generalization adding new attributes to the product encouraging the consumer to use stimulus discrimination changing the importance of attributes
changing the importance of attributes
A busy downtown hotel is distributing questionnaires to past visitors in order to develop ideas about how to improve its conference facilities and services. The hotel is collecting primary data. collecting internal secondary data. collecting external secondary data. performing a sensitivity analysis. using neuromarketing.
collecting primary data.
A ________ is a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation. points of distinction product differentiation business portfolio competitive advantage core competency
competitive advantage
Which of the following is a criterion used to select a target market segment? competitive position high income similarity of needs of potential buyers within a segment difference of needs of buyers among segments potential of a marketing action to reach a segment
competitive position
Intel Core processors are purchased by Toshiba for its laptops, and are thus considered what type of business product? support products components supplies derived products installations
components
Selective ________ involves interpreting information so that it is consistent with your attitudes and beliefs. evaluation retention acuity exposure comprehension
comprehension
When it was introduced, Jergens Ultra Healing Extra Dry Skin Moisturizer was an example of a precise protocol. continuous innovation. brand extension. discontinuous innovation. regular distribution.
continuous innovation.
In a ________ test market, a firm contracts with an outside service that pays retailers for shelf space and can therefore guarantee a specified percentage of the test product's potential distribution volume. controlled simulated standard hyper laboratory
controlled
The chief marketing officer (CMO) is considered part of which organizational level? board of directors corporate level strategic business unit level functional level This position is not considered part of a single level because it straddles several.
corporate level
China's state-owned firms agreed to a $9 billion deal to build railways, hospitals, and health centers in the Democratic Republic of Congo in exchange for 10 million tons of copper and 400,000 tons of cobalt, a critical metal used in electric car batteries, which is an example of gray marketing. trade equity. countertrade. rivalry conditions. balance of trade
countertrade.
The internal response that customers have to all aspects of an organization and its offerings based on direct and indirect contacts is referred to as evolution marketing. the societal marketing concept. customer relationship management. customer experience. consumer sustainability marketing.
customer experience.
Venmo's ________ can be described as providing P2P money transfers with seamless utility, while engaging a messaging feed that allows users to see when, where and why their friends are spending money. market responsibility time value of money customer value proposition intangible environment
customer value proposition
Colgate-Palmolive secured the endorsements of dentists to make the claim that Colgate Total toothpaste is the number-one recommended toothpaste by most dentists, a tactic that is most effective at speeding up cognitive learning. increasing cognitive dissonance. increasing experiential learning. decreasing perceived risk. increasing stimulus generalization.
decreasing perceived risk.
International Paper (IP), the world's biggest producer of containerboard, supplies about 50 percent of the cardboard boxes used to package and ship Amazon's merchandise. Amazon's orders from IP depend on its own customer orders, so the demand for IP's boxes is called ________ demand.
derived
As consumer demand for new cars increases, tire makers and steel and aluminum suppliers may experience an increase in demand for their products, which is an example of sequential demand. concurrent demand. derived demand. secondary demand. primary demand.
derived demand.
Google's driverless car is an extreme example of the complexity of which step of the new-product process? business analysis idea generation screening and evaluation development commercialization
development
For the purchase of a smartphone, an independent rating agency indicates that many consumers use price, display, camera quality, and battery life as ________, because it assesses products on these dimensions. value attributes the consideration set a cognitive cluster selective features evaluative criteria
evaluative criteria
When a marketing researcher uses business periodicals and U.S. Census reports, she is using primary data. internal secondary data. business data. external secondary data. sensitivity analysis.
external secondary data.
For which of the following items would extended problem solving most likely be used? flying lessons a concert ticket a yoga mat a bus ride tennis balls
flying lessons
A new KitchenAid refrigerator has a separate cooling system for the freezer, which lessens the humidity in the refrigeration section and reduces spoilage. The change adds to the refrigerator's ________ utility. time place possession market form
form
The entertainment industry in the United States is dominated by Viacom, Disney, and Time Warner, so they operate in which form of competition? cross-market competition oligopoly monopolistic competition monopoly pure competition
oligopoly
A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand, is referred to as a research grid. perceptual map. market-product grid. growth-share matrix. product differentiation chart.
perceptual map.
Devin wasn't going anywhere for spring break; she just wanted to sit around and binge watch something on Netflix. She went next door to talk to a friend who shared her taste in television and got a recommendation for Master of None. Devin's information search was shortened by a discussion with her neighbor, which is a personal source. marketer-dominated source. family source. consumer-controlled source. public source.
personal source.
The ________ phase of the strategic marketing process usually results in a(n) ________ that sets the direction for the marketing activities of an organization. implementation; target market planning; competitor analysis evaluation; financial statement planning; marketing plan evaluation; annual report
planning; marketing plan
An important ________ for Medtronic's Micra pacemaker is its unmatched small size, about the size of a vitamin capsule, which allows it to be implanted directly into the heart without invasive surgery or the need for electrical leads. market analysis market segmentation point of difference distinctive competency organizational opportunity
point of difference
The furniture company delivered her new couch on Thursday and Samantha used it all weekend. Although she really liked the color and style, she didn't think it was very comfortable. At which stage of the purchase decision process is Samantha? postpurchase behavior routine problem solving problem recognition information search alternative evaluation
postpurchase behavior
Target has used ________ to identify 25 products that, when bought together or over time, predict a woman's likelihood of being pregnant as well as her child's expected due date. action analysis an environmental scan situational analysis predictive modeling problem definition
predictive modeling
One way that marketing mix characteristics differ for organizational buying compared to consumer buying is that for organizational buying
price is often negotiated.
Dollar Shave Club asks men to "Shave Money, Shave Time" in its commercials; it offers high-quality blades available by mail for a few dollars a month. Dollar Shave Club's advertising promotes the time- and money-saving aspects of its product as an example of product positioning. mass customization. product differentiation. segments of one and mass customization. repositioning.
product differentiation.
Market segments are homogeneous in two ways: prospective buyers have common needs and they will respond similarly to marketing action. can be convinced to share common wants. are in the same income bracket. are likely to be open to brand-switching. use traditional forms of media on a regular basis.
will respond similarly to marketing action.
Orbitwheels are a cross between a skateboard and pair of inline skates. Riders insert each foot in a large wheel that rotates sideways. Orbitwheels differ from a skateboard in that they are self-propelled by the rider's wave-like motion so the need to push off the ground every few feet to get moving is eliminated. The product has been popular among some kids, especially athletic teen boys. Athletic teen boys could be described as the ________ for Orbitwheels. 1. mass market 2. tangential market 3. market aggregation 4. target market 5. penetration market
4. target market
When Tori was looking for housing in the fall, she saw a "for rent" sign on a house near her school. Though she tried the number on the sign repeatedly, no one answered the phone and there was no way to leave a message. Marketing did not occur because 1. Tori probably did not have a true need for this house. 2. the house was too expensive for Tori to afford. 3. whoever was renting the home had poor customer service. 4. there was no way for the parties to communicate. 5. there is a lot of competition in the rental market.
4. there was no way for the parties to communicate.
The goal of marketing is to both ________ the needs of prospective customers. 1. create and amplify 2. improve and perfect 3. persuade and deliver 4. establish and assure 5. discover and satisfy
5. discover and satisfy
Which of the following statements about global brands is most accurate? A global brand is marketed under different brand names for every market. A global brand alters the product or service formulation for each country. A global brand has marketing programs that are coordinated in each individual country where the service is sold to ensure a consistent customer experience. A global brand is a collaborative effort among several different multinational firms to ensure that semiotic mistakes do not occur. A global brand uses consistent advertising across multiple countries and cultures.
A global brand uses consistent advertising across multiple countries and cultures.
The ________ subculture as a whole is characterized by hard work, strong family ties, appreciation for education, and median family incomes exceeding those of any other ethnic group. African American Native American Arab American Hispanic Asian American
Asian American
In an inflationary economy, which of the following is true? Costs to produce products are increasing but prices are going down. Gross incomes are declining. Discretionary incomes are declining. Both the costs to produce and buy products are increasing. Incomes and costs are not changing, but prices are decreasing.
Both the costs to produce and buy products are increasing.
Which of the following is an example of a single product with multiple market segments? Reebok makes tennis shoes, running shoes, walking shoes, and Weeboks. Reach Toothbrush is available in a soft, medium, and hard bristle for adults and kids. Twinings and Bigelow both market their own brands of Earl Grey tea. Botox is a drug marketed to some groups as a way to reduce signs of aging on the face, and to others as a treatment for migraines. Quaker Oats oatmeal sells both its hot cereals and cold cereals to people of all ages.
Botox is a drug marketed to some groups as a way to reduce signs of aging on the face, and to others as a treatment for migraines.
________ serve as guidelines on how to act rightly and justly when faced with moral dilemmas. Personal rights Ethics Norms CEOs Safety officers
Ethics
All of the following are true of corruption except which? Stealing trades secrets is a form of corruption. Corruption is unethical behavior. Kickback and bribes are forms of corruption. Forms of corruption are most evident in industries experiencing intense competition and in countries in the earlier stages of economic development or facing economic and political turmoil. Corruption often involves a person entrusted with a position of authority acquiring a personal benefit.
Stealing trades secrets is a form of corruption.
All of the following are true of tariffs except which? Tariffs are a form of tax. Tariffs can discourage international trade. Countries set their own tariff policies. Tariffs lower prices on imports. Tariffs can make local goods more attractive
Tariffs lower prices on imports.
________ often triggers a business model change, as it has for Netflix, Barnes & Noble, and Uber. Rising employee wages Economic uncertainty Growth in the retail sector Government regulation Technology innovation
Technology innovation
________ has resulted in more consistency in regulations, so Colgate-Palmolive Company now markets its Colgate toothpaste with one formula and package across numerous European countries at one price. NAFTA The WTO The EU NATO The UN
The EU
________ makes it possible for U.S.-based Ford Motor Company to invest $60 million in a Mexico City manufacturing plant to produce smaller cars and light trucks for global sales. The General Agreement on Tariffs and Trade Treaty The World Trade Organization The Trilateral Economic Cooperation Accord The North American Free Trade Agreement The CanAmerMex Union
The North American Free Trade Agreement
________ decides on trade disputes between members across the world and issues binding decisions. The IMF The NAFTA The FCPA The WTO The EU
The WTO
Which of the following is the best example of a shopping product? Warby Parker glasses Bentley automobile cash from an ATM Roget's Thesaurus Doublemint gum
Warby Parker glasses
A local political party made phone calls to assess likely voter turnout. The only question asked in the telephone interview was if the respondent planned to vote in the fall elections, to which one could answer either yes or no. This question would be considered open-ended. dichotomous. a Likert scale. single response. a semantic differential scale.
dichotomous.
When Apple introduced its iPhone X with Face ID at a high price tag, it used __________ to avoid direct competition with Samsung, LG, and others. head-to-head positioning niche positioning differentiation positioning competitive positioning holistic positioning
differentiation positioning
Positioning a product or brand effectively involves taking four steps, one of which is deciding whether to keep or delete a product group or item. deciding which of your competitors would be the most effective partner in a corporate merger. developing a new marketing program that conforms to your leading competitor's offering. identifying market niches that were not previously discovered during the market segmentation process. discovering how target customers rate competing products or brands with respect to important attributes for the class.
discovering how target customers rate competing products or brands with respect to important attributes for the class.
When you begin your first full-time job, you have a monthly income of $3,500. Your federal and state taxes are $1,000. You pay $600 in rent, have a $300 car payment, and spend $300 on food and $200 on clothes. The remaining $1,100 would be considered your net income. disposable income. discretionary income. gross income. earned income after taxes.
discretionary income.
When its beer sales were flat, Budweiser became interested in entering the premixed cocktail segment by providing a product that would appeal to those who don't enjoy traditional beer. It launched Bud Light Lime-A-Rita, a margarita-flavored, beer-based cocktail, sold in cans and bottles and best served over ice. This is an example of market penetration. market development. product innovation. product penetration. diversification.
diversification.
All of the following are independent variables a market researcher may use in a marketing experiment except which? price package size distribution outlet use of coupons dollar sales
dollar sales
Mexican officials claimed that U.S. apple growers were ________ when they appeared to be selling red and golden delicious apples in Mexico for less than the cost of producing them. This resulted in Mexico adding a tariff to these products. parallel importing back-channel marketing dumping countertrading microfinancing
dumping
Electronic hacking and illegal trespassing for the purposes of acquiring a competitor's proprietary information is considered bribery. good business practice. utilitarianism. economic espionage. moral idealism.
economic espionage.
Consumer products are classified based on the attributes used in making the purchase decision, the frequency of purchase, and the amount of money the customer is willing to spend. number of competing products or product substitutes. demographics of the consumer. effort spent by the consumer. number and type of product features.
effort spent by the consumer.
Benefits to society from effective marketing include: enhanced competition and environmental protections. bundled products and consumer relationships. a seller's market and environmental protections. regulatory environments and consumer relationships. enhanced competition and lower prices.
enhanced competition and lower prices.
The uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory conditions are referred to as the four Ps. the marketing mix. market drivers. showstoppers. environmental forces.
environmental forces.
Kroger, a supermarket chain, has committed to source 100 percent of wild-caught seafood in its seafood departments from fisheries that are Marine Stewardship Council (MSC)-certified, or certified by other globally recognized programs by 2020. Here, Kroger has which buying objective?
environmental sustainability
Researchers have ridden alongside motorcycle enthusiasts to understand the relationship between riders and their beloved Harley-Davidsons. This is an example of ________ research. secondary neuromarketing ethnographic experiential questionnaire
ethnographic
After the planning and implementation phases of the strategic marketing process is a phase known as adaptation. financial analysis. the marketing program. evaluation. launch.
evaluation
Comparing the results of the marketing program with the goals in the written plans to identify and act on deviations occurs during the implementation phase. planning phase. analysis phase. evaluation phase. launch phase.
evaluation phase.
When a consumer has evaluated alternatives in the purchase decision process and selected one, he still must determine when to buy and whether to reveal his choice to others. from whom he will buy. whether internal search will be sufficient for his process. to whom he can complain if he is not satisfied. how he can create cognitive dissonance.
from whom he will buy.
A visionary organization must set a direction that describes its products. mission and values. organizational structure. goals. environment.
goals.
Utilitarianism is a personal moral philosophy that focuses on "the greatest ______ for the greatest _______." cost; benefit good; number profit; company utility; people economics; utility
good; number
The Food and Drug Administration (FDA) works to promote and protect public health in the United States and is an example of which type of organizational buyer?
government agency
When Coca-Cola introduced New Coke it was a marketing failure. Someone in the marketing department likely thought the new recipe was a disaster waiting to happen, but didn't speak up. This is most likely an example of poor brand recognition. the "NIH problem." barriers to entry. open innovation. groupthink.
groupthink.
Two major types of product positioning are competitive and consumer. niche and perceptual. behavioral and psychological. head-to-head and differentiation. holistic and segmentation.
head-to-head and differentiation.
Which of the following is considered a durable good? headphones laundry detergent gasoline a concert ticket tax preparation
headphones
Marketers of ________ products know that their consumers constantly seek and process information about objective and subjective brand attributes. low-priced high-involvement commoditized low-involvement situational-involvement
high-involvement
Large multistore chain resellers like Target, 7-Eleven convenience stores, and Safeway use a buying committee that differs from the typical buying center in that it is
highly formalized.
Luke has been scheduling fewer employees to work during the matinee hour at the movie theater he manages because it has been slow lately. He recognized a need to manage his off-peak convenience. idle production capacity. selective demand. intangibility. inconsistency.
idle production capacity.
Jack always tries to sit in Becca's section at the grill because her prefers her service over any of the other current waitstaff, so he is considering the ________ aspect of services. inventory inconsistency imperfection intangibility impressionability
inconsistency
A business firm uses market segmentation to respond more effectively to the wants of groups of potential buyers in order to maintain market share. increase sales and profits. be more socially responsible. use fewer of the firm's resources. provide the best quality products on the market.
increase sales and profits.
From among e-marketplaces, small business buyers and sellers in particular benefit from ________, while large companies tend to prefer _________.
independent e-marketplaces; private exchanges
Real estate businesses and farms are examples of
industrial markets.
Emma, the facilities director for a college of business, was very involved in the purchase process for remodeling the student lounge and computer labs. The Dean of the school made the final choice of contractor from among the choices Emma researched and negotiated the contract. Here, Emma performed what function in the buying center?
influencer
Design and production engineers draft specifications for a purchase during which stage in the organizational buying process?
information search
An advantage of the North American Industry Classification System (NAICS) is that
it groups economic activity to permit studies of market share, demand, and import competition.
A ________ may be desirable as a market entry strategy if one company does not have the necessary financial, physical, or managerial resources to enter a foreign market alone, or if the arrangement is required by the foreign government. supply partnership tactical relationship dumping exception direct investment joint venture
joint venture
Sometimes consumers skip or minimize one or more stages in the five-stage purchase decision process, depending on their advertising awareness. competitive intelligence. demand for the offering. level of involvement. communication style.
level of involvement.
A French cooperative called Sodima allows General Mills to sell Yoplait in the United States in return for a fee, a global market entry strategy known as what? direct exporting direct investment joint venture licensing indirect exporting
licensing
For Nike, shoes and clothes are among its product items. units. lines. mixes. classes.
lines.
In 2019, a marketing manager for New Balance's Fresh Foam Zante shoe needs to forecast sales through 2021. She begins with the known totals for 2018 and adjusts for positive factors like acceptance of new high-tech designs and great publicity, and for negative factors like higher inflation and predicted moves by the competition. This type of forecast is referred to as trend extrapolation. direct forecasting. lost-horse forecasting. linear trend forecasting. a survey of buyers' intentions.
lost-horse forecasting.
Important variables in the family life cycle are age, presence of children, and gender. income. primary motivation for purchases. level of involvement. marital status.
marital status.
The market-product focus and goal setting part of the planning phase of the strategic marketing process includes which of the following? developing a mission statement market segmentation testing the product testing the market evaluating the marketing program
market segmentation
The outdoor brand The North Face intends to capture some of its competitors' business in Europe in the next few years, even amid the stagnant economic conditions there. The firm cites the active lifestyles there and the relatively low cost of entry for its backpacking and hiking sports gear, which attracts those planning a low-budget "staycation." The North Face most likely has a ________ goal. profit responsibility unit sales sales revenue market share social responsibility
market share
In a complete market-product grid analysis, each cell in the grid can show the estimated ______ of a given product sold to a ______. value; customer. strengths; consumer. market size; specific market segment. growth rate; specific market segment. weaknesses; consumer
market size; specific market segment.
Each display in a marketing dashboard shows a ________, which is a measure of the quantitative value or trend of a marketing action or result. linear extrapolation marketing plan planning gap Gantt chart marketing metric
marketing metric
Designing ads and setting prices for new product lines are examples of which of the following? marketing plans marketing tactics business plans marketing strategies objectives
marketing tactics
The development of online capabilities created the ________, an information- and communication-based electronic exchange environment occupied by sophisticated computer and telecommunication technologies and digital offerings. marketspace the Internet of Things intranet extranet electronic commerce web
marketspace
Which of the following is the largest living generational cohort? millennials baby boomers Generation X gray generation Generation Z
millennials
American Red Cross's ________ is to be dedicated "to prevent and alleviate human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors." core value mission organizational culture competency competitive advantage
mission
Ethical duties, such as the fundamental duty to do no harm, would apply to which personal moral philosophy? cause marketing moral idealism social responsibility utilitarianism green marketing
moral idealism
Procter & Gamble markets its popular multipurpose cleaner as Mr. Clean in North America and Asia but uses several different brand names like Maestro Limpio and Mr. Proper in other parts of the world. These differences arise because P&G is a(n) ________ firm. multinational global international transglobal dynamic
multinational
The National Institute of Cancer used fMRI brain imaging to decide which potential anti-smoking advertising campaign elicited the largest amount of brain activity. This is an example of which type of marketing research? neuromarketing panel focus group experiential ethnographic
neuromarketing
The raw information obtained by iTunes about what songs are downloaded by its users would be considered ________ data. information technology observational questionnaire inferential primary
observational
Which of the following is a variable that could be used for demographic segmentation of consumer markets? occupation city size NAICS code personality usage rate
occupation
Kitchen World has put its offerings in store locations based upon the cooking activity—the way consumers prepare and present various meals. Everything for baking is in one spot, while food preparation utensils are in another, and table settings are in yet another. This strategy uses product clusters. product groupings. segment groupings. lifestyle merchandising. psychographic merchandising.
product groupings.
Whirlpool developed a colorful, compact, automatic clothes washer suitable for the living space specifically for households in developing countries with annual household incomes of $2,000. This is an example of what type of global product strategy? product extension product customization product adaptation product invention product integration
product invention
Doritos' introduction of Cool Ranch Doritos is an example of a brand extension. radical invention. relevant extension. product line extension. marketing scam.
product line extension.
Once a company has decided to enter the global marketplace, it must select a means of market entry. As the firm moves from exporting to direct investment, all of the following increase except which? financial commitment production costs marketing control profit potential risk
production costs
One argument for protectionism is that it strengthens the economy by encouraging a balance of trade. instills a sense of nationalism, which in turn protects economic stability. lowers prices for domestic consumers. promotes development of domestic industries. creates a more loyal and hardworking domestic workforce.
promotes development of domestic industries.
Wrigley's offers grapefruit-, cucumber-, and tea-flavored chewing gum in China, which is an example of a ________ global marketing strategy. product invention communication adaptation promotion adaptation product extension promotion customization
promotion adaptation
The VALS system is a(n) ________ measure of consumers. family life cycle involvement level brand loyalty psychographic attitude
psychographic
There is a growing group of young individuals in the United States that live in their vans, documenting their picturesque adventures on Instagram with the hashtag, #vanlife. This group could most likely be isolated for marketing purposes using which consumer segmentation basis? psychographic behavioral demographic socioeconomic geographic
psychographic
Becky's daughter was in the sixth grade and growing very fast. In early fall, her daughter tried on her soccer cleats from the spring and, although they were still in good shape, she could barely fit her foot inside. Becky knew she'd need to get her a new pair; she had just begun the usage buying sequence. VALS typology. purchase decision process. consumer purchase procedure. stages of consumption.
purchase decision process.
One benefit associated with selling to organizations is that
purchases in a single transaction are typically much larger than in consumer buying.
Action item lists have an important advantage over typical meeting minutes in that they record streamlined minute meeting notes. maintain secondary and backward-looking records. put strong pressure on people to achieve their designated tasks. initiate the evaluation phase of the strategic marketing process. inform and assist the planning phase of the strategic marketing process.
put strong pressure on people to achieve their designated tasks.
Russia allows the United States to ship up to 60,000 tons of frozen beef into the country annually under its import WTO tax. gray market. tariff. fair trade exception. quota.
quota.
Marketing research is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and choosing a market-entry strategy. creating a new budget and financial plan. tracking the actions of competitors. assembling a tactical team. recommending actions.
recommending actions.
If Israel is happy with how his new Lifeproof phone case protected the phone when he dropped it in the snow, this would be considered which variable of the behavioral learning process? drive cue reinforcement discrimination response
reinforcement
Spotify uses data about musical preference to suggest new music to subscribers. This use of technology aids in Spotify's ________ efforts, in which the company can gain insights into how its products create value for customers. marketing program market segmentation stakeholder value strategic partnership relationship marketing
relationship marketing
Tyler co-owns a coin-operated laundry downtown with his two brothers, but he does most of the day-to-day management. Which of the following would most likely be a straight rebuy for Tyler?
reordering single-use detergent packets for his vending machine
Although not strictly illegal, the U.S. Justice Department frowns on reciprocity because it
restricts the normal operation of the free market.
Reverse auctions
result in a downward pressure on bid prices.
Luke sees a public service announcement from the CDC reminding everyone to get a flu shot this fall, and he goes to the student health center to get one. The CDC is attempting to appeal to consumers' ________ needs according to the Maslow hierarchy. physiological safety social personal self-actualization
safety
Marketing researchers often use ________ by selecting a group of distributors, customers, or prospects, asking them questions, and treating their answers as typical of all those in whom they are interested. sampling forecasting actuarial tables conjectures interactive data exchange
sampling
You are asked to complete a short survey after attending a free comedy show on campus. If the first question asked you to give an overall impression of the comedian, and had a five-point scale ranging from "hilarious" on one end to "not funny" on the other end, it would be what type of marketing research question? open-ended Likert scale dichotomous single response semantic differential scale
semantic differential scale
An Uber ride is considered a ________ because of its intangible nature. ware good marketing object market segment service
service
Potential buyers within a market segment should be similar to those from different segments. familiar with the product but not yet brand loyal customers. similar in terms of the product features sought. cannibalized from competitors' customers. able to provide significant product synergies.
similar in terms of the product features sought.
Workplaces that encourage practices such as mindfulness, personal well-being, and "bring your pet to work" days are responding to which environmental force? social regulatory technological competitive economic
social
In marketing research, the research objectives are the ________ goals of the decision maker. causal and actionable virtual and interactive actionable and concise interdisciplinary and precise specific and measurable
specific and measurable
In BCG's business portfolio analysis, ________ may need extra cash to finance their own rapid future growth, but when their growth slows they are likely to become cash cows. dogs stars hedgehogs lions exclamation points
stars
A company is interested in producing a dinosaur game for mobile phones and tablets. It selects a representative sample of boys and girls ages 4 to 8 who currently have access to a mobile device and like dinosaurs. After interviewing the children and collecting other relevant data, the firm then makes generalizations about what all young children want in their apps. The method used is sensitivity analysis. new product concept assessment. statistical inference. extrapolation. secondary data collection.
statistical inference.
Using the same brand name for different products is an application of which concept from behavioral learning theory? selective comprehension stimulus generalization selective retention stimulus discrimination affective formation
stimulus generalization
Deere & Company, the maker of John Deere farm, construction, and lawn-care equipment, employs _________ engineers who work full-time with the company's suppliers to improve their efficiency and quality and reduce their costs.
supplier development
To forecast sales and schedule production needs Boeing asks its prospective customers what their likely purchases will be in the next five years, which is considered a trend extrapolation. sensitivity analysis. lost-horse forecast. statistical inference. survey of buyers' intentions.
survey of buyers' intentions.
Evaluating the decision and the process used for marketing research occurs in which stage of the process? execute the marketing program take marketing actions examine the alternatives evaluate data collection methods present the findings
take marketing actions
Oral-B now has a toothbrush that can connect to your smartphone to provide real-time feedback on your brushing. This is an example of a(n) ________ force that could impact other industries. technological regulatory social economic competitive
technological
Which of the following most directly impacted the legal concept of caveat emptor in the United States? the Sherman Antitrust Act changing corporate cultures the Consumer Bill of Rights utilitarianism sustainable development
the Consumer Bill of Rights
Social responsibility refers to: the moral principles and values that govern the actions and decisions of an entire group. the belief that organizations are accountable to a larger society for their actions. the view that firms have a duty to maximize profits for their shareholders so they themselves can voluntarily benefit society. the view that consumers must engage in socially acceptable behaviors like recycling. the view that an organization should discover and satisfy the needs of its consumers in a way that also provides for society's well-being.
the belief that organizations are accountable to a larger society for their actions.
Inseparability in services refers to the fact that there is no regulation of service industries in terms of basic standards of quality. the quality of service provided by a firm is often inseparable from its image. the consumer cannot distinguish the service provider from the service itself. training and standardization of service delivery procedures cannot be accomplished. there is too much idle production capacity.
the consumer cannot distinguish the service provider from the service itself.
As a situational influence, antecedent states include the purpose of the purchase. the consumer's mood. other people present. the time of day. the crowding in retail stores.
the consumer's mood.
Back translation is incorporating a hidden meaning behind the written term in order to capitalize on ethnic diversity. the practice of translating words from one foreign alphabet to another or when necessary, creating new internationally recognized symbols. recording the spoken word into a foreign transliteration for universal understanding. the practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors. the practice of hiring a professional interpreter to attend all major business meetings to prevent misunderstandings.
the practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors.
A disadvantage of using social media for marketing research is participants require large fees for their cooperation. users are isolated from one another so there is little collaboration or cooperation. influencers dominate the discussion and prevent others from sharing their opinions. the sample of individuals from whom content is gleaned may not be statistically representative of the marketplace. data collection is among the slowest of all research methods.
the sample of individuals from whom content is gleaned may not be statistically representative of the marketplace.
In marketing, ideas are marketing actions that provide quality products in a timely matter to satisfy customers' needs. intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. tangible attributes that consumers' five senses can perceive. tangible product attributes that an organization provides to satisfy consumers' needs in exchange for money or something else of value. thoughts that lead to a product or other marketing actions.
thoughts that lead to a product or other marketing actions.
Brick-and-mortar retailers are noticing a change in how many consumers shop. Sometimes they visit a store and scan an item on their smartphones, only to find the same product at a less expensive online retailer like Amazon.com. This turns the store into nothing more than a showroom for products. A SWOT analysis of Best Buy's marketing environment should consider this change in consumer shopping behavior a(n) ________. strength weakness threat opportunity risk
threat
In a marketing decision, constraints are most likely to be restrictions on the ________ needed to solve the problem. stakeholder buy-in time and money industry research management knowledge concepts and methods
time and money
Not only do businesses see benefits from the protections of ________, consumers do as well; they allow consumers to correctly identify the products they want to purchase. copyrights trademarks environmental scans self-regulations patents
trademarks
Organizational buyers include all buyers of a product except which of the following? Government agencies. Ultimate consumers. Retailers. Wholesalers. Manufacturers.
ultimate consumers
Apple restricts its computer manufacturing line to only a few basic models that can be assembled in four minutes, which gives customers a good choice with quick delivery. This is an example of mass customization. organizational synergy. unsegmented marketing. built-to-order manufacturing. marketing synergy.
unsegmented marketing.
Products that the consumer does not know about or knows about but does not initially want are referred to as shopping products. convenience products. specialty products. unsought products. support products.
unsought products.
McDonald's does not sell beef hamburgers in its restaurants in India because the cow is considered sacred by almost 85 percent of the population, which is considered a difference in ________ from American consumers. moral idealism codes of ethics values segmentation preferences cognitive attitudes
values
A General Electric employee was fired after he reported allegations of Foreign Corrupt Practices Act violations in Iraq to his supervisor and GE Energy's ombudsperson. This can be the unfortunate outcome when one becomes a capitalist. scab. corporate spy. whistle-blower. stakeholder.
whistle-blower.
Market segmentation involves aggregating prospective buyers into groups that have common needs and have access to and desire for the products. possess the same level of resources. are open to marketing research. are of nearly uniform size. will respond similarly to a marketing action.
will respond similarly to a marketing action.