Test Questions

FedEx offers its customers fast and reliable package delivery. When FedEx customers weigh these benefits against the monetary cost of using FedEx along with any other costs of using the service, they are acting upon

Customer Perceived Value

Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called

Customer Relationship Management

The primary key to delivering ________ is to match product performance with ___________

Customer Satisfaction, Buyer Expectation

Which of the following is the first step in the marketing research process?

Define the problem and research objectives

Greg Williams now has the buying power to purchase the desktop computer that he has wanted for the last six months. Greg's want now has become a(n)

Demand

A company sent a trained observer to watch and interact with consumers in their natural environments in order to gain deeper insights on consumer needs. This is an example of

Ethnographic Research

Juanita Petino, a nutritionist, decided to test the effects of two breakfast cereals, Kinglo and Loopy, on different consumer groups. For the purpose of her study, she divided 20 volunteers into two groups and asked the members of one group to have Kinglo cereal and the members of the other group to have Loopy cereal for breakfast. She decided to compare the responses of the volunteers after a week to gain deeper insights into consumer attitude. In this instance, Juanita is using

Experimental Research

research, the objective is to gather preliminary information that will help define the problem and suggest hypotheses.

Exploratory

The first question in a questionnaire should be purposely made difficult and complicated to weed out the uninterested respondents.

False

The introduction of new technologies is equally beneficial to all industries.

False

The microenvironment consists of larger societal forces that affect a company, such as demographic, economic, political, and cultural forces.

False

The popularity of cause-related marketing as a form of corporate giving is rapidly declining.

False

Which of the following is most likely a disadvantage of focus group interviewing?

Focus group interviewing involves small samples to keep time and costs down, which makes it hard to generalize from the results.

Which of the following refers to a nonprobability sample in which the researcher uses his or her evaluation techniques to select population members who are good prospects for accurate information?

Judgement sample

Cape Sky Inc., an international insurance and financial services company, is the primary sponsor of the annual New York City Marathon, which is attended by over one million fans and watched by approximately 300 million viewers worldwide. The Cape Sky logo and name are displayed throughout the race course. Cape Sky most likely sponsors this event in order to appeal to which of the following types of publics?

Local Publics, Media Publics, Financial, Citizen-action, General

Sam has been directed to study the demographic, economic, political, and cultural forces that affect an organization. In this instance, Sam has been directed to study the

Macroenvironment

What is the set of actual and potential buyers of a product or service.

Market

What is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want.

Market Offerings

The market researchers at HoneyCamp Foods gather daily sales data and sort it by product line and region. With the help of sophisticated tools and techniques, they develop the data needed by marketing managers to evaluate the market share of the company's different products and also to gain valuable market insights. This mix of people and procedures at HoneyCamp Foods that generate actionable marketing insights represents a(n)

Marketing Information System (MIS)

Jonathan works for a firm that assists companies in promoting, distributing, and selling their products to end consumers. The firm Jonathan works for is a

Marketing Intermediary

The art and science of choosing target markets and building profitable relationships with them is called .

Marketing Management

Which of the following terms refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs?

Marketing Myopia

is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Marketing Research

Which of the following is true with regard to marketing research?

Marketing research gives marketers insights into customer motivations

Ursula Williams owns a small publishing company in Utah and has a very restrictive budget for the market research she currently needs to conduct. She requires a large sample size for her research in order to arrive at insightful conclusions. Additionally, she wants to have excellent control over her sample. Keeping in mind her restrictive budget and other specifications, which of the following methods of contact would you advise Ursula to use?

Online Surverys

Melissa Thomas leads the marketing research division at Tronics Inc., a manufacturing company based in Alabama. To improve future sales of the company's products, she has decided to collect customer opinions and feedback on the current products offered by her company. For this purpose, Melissa is looking for a highly flexible contact method which can be used to gather large amounts of data within the least possible time. In this instance, which of the following contact methods is most likely to hold the highest appeal for Melissa?

Online surveys

LandPort Transportation and Omega Warehousing help companies move and stock goods from their manufacturing units to their destinations. These two businesses are examples of

Physical Distribution Firms

Sarah Parker is a senior manager in a manufacturing firm that hires lobbyists to influence legislation that affects the manufacturing industry. Sarah's firm takes a(n) ________ stance toward the marketing environment.

Proactive

An increasing number of American workers currently work from their homes or remote offices and conduct their business by phone or the Internet. These trend has created a

SOHO - small office/home office market

Which of the following is an accurate statement about the diversity of the American population?

Salad Bowl mostly white, some hispanic and black

Which of the following is true of Gen Xers?

Seek Success, less materialistic, Prize experience not acquisition Family first, then career research products

Iceco Inc., an ice-cream manufacturing company, encourages all stakeholders, including the top management and employees at all levels in their stores, to consider individual and community welfare in their day-to-day decisions. This action undertaken by Iceco reflects

Social Responsiblity

Wholesome Soups, a maker of organic soups, is starting a new marketing campaign emphasizing the ease of preparing and eating Wholesome Soups. Print, television, and Internet ads feature teens enjoying Wholesome Soups in between classes and during study breaks. Wholesome Soups' new marketing campaign is most likely aimed at which of the following?

Students

Which of the following is a potential downside to using patriotic themes in marketing programs?

Such promotions can be viewed as attempts to gain from others' triumph or tragedy.

Which of the following is true about survey research?

Survey research is the most widely used method for primary data collection.

Cathy's Clothes is a small yet successful retail chain that sells women's clothing and accessories with a focus on buyers who have relatively modest means. For this specific purpose, the firm has rolled out several marketing initiatives aimed at women of a specific demographic. This is an example of

Target Marketing

Selecting which segments of a population to serve is called

Target Marketing

Which of the following is most likely an advantage of survey research?

The flexibility of survey research is high; it can be used to obtain many different kinds of information in many different situations.

Government markets consist of government agencies that buy goods and services

To transfer goods and services to people who need them

A sample is a segment of the population selected for marketing research to represent the population as a whole.

True

As baby boomers reach their peak earning and spending years, they become lucrative markets for financial services, travel, and entertainment.

True

Business markets buy goods and services for further processing or use in their production processes.

True

Mail questionnaires can be used to collect large amounts of information at a low cost per respondent.

True

Marketing success requires building relationships with other company departments, suppliers, marketing intermediaries, competitors, various publics, and customers, which combine to make up the company's value delivery network.

True

The difference between human needs and wants is that needs are not created by marketers.

True

Customers can be classified into four relationship groups based on their profitability and projected loyalty. Which customer type is associated with high profitability and long-term loyalty?

True Friends

Which of the following questions is an example of a closed-end question?

Would you like to rush pike?

Which of the following statements is true of the production concept?

consumers favor products that are available and highly affordable

Which of the following is a characteristic of customer-driven marketing?

customers know what they want

Marketers should understand that people's core beliefs and values tend to be

fixed

Which of the following is the aim of the product concept?

focus on making continuous product improvements

Which of the following is most likely a result of regulations set up by the Food and Drug Administration and the Consumer Product Safety Commission?

forbids sell of unadulterated food or fraudulent labeled food and drugs

Secondary data consist of

info that already exists somewhere, been collected for another purpose

Which of the following is true of the baby boomers?

1946-64 Most powerful forces shaping marketing environment Redefining meaning of growing older

Which of the following is a result of a significant increase in the number of women in the workforce?

40 percent are breadwinners Stay at home dads Marketing targeting stay at home dads

A financial services firm has several loyal customers who conduct business with them exclusively. However, the company has noticed that this customer group is the least profitable for the company, and in some cases, it increases their losses when engaging in business with this group. Which of the following customer groups is being referred to in this scenario?

Barnacles

According to the five-step model of the marketing process, which of the following is the final step in creating value for customers?

Building profitable relationships and customer delight

Ramona Adams, a marketing manager working in an American firm, is about to test the hypothesis that the sale of a particular product will increase exponentially if there is a $5 drop in the selling price of the product. Ramona is involved in

Casual Research

A regional supermarket chain runs print, radio, and television advertisements announcing that 1 percent of each of its sales is donated to local after-school programs for underprivileged youth. This is an example of

Cause Related Marketing

Funco Inc., a toy manufacturer, sold plastic racing cars that were manufactured with toxic materials, which threatened the health of several children. Under which of the following acts is Funco most likely to be prosecuted?

Child Protection Act

limits the number of commercials aired during children's programs.

Children Television Act

The marketing department of a reputed firm wants to improve strategic decision making, track the actions of other players in the market, and provide early warning of opportunities and threats. Which of the following would help the firm achieve its objectives?

Competitive Marketing Intelligence

Price & Malone Corp., a company based in Houston, caters to a market of individuals and households that buy goods and services for personal consumption. Price & Malone caters to

Consumer Market

Which of the following is a disadvantage of online focus groups?

Controlling the online sample is difficult

Which of the following refers to a nonprobability sample in which the researcher selects the easiest population members from which to obtain information?

Convenience sample

Mercury Inc., an American MNC, is currently planning to enter the promising consumer goods market in India. The firm will most likely discover that _______ beliefs and values are more open to change in India.

Core

It is most accurate to say that when customers purchase products they act on ______ as they judge values and costs.

Cultural Environment

"Losing a customer once means losing the entire stream of possible purchases that the customer would make over an extended period of patronage." The above statement specifically indicates loss in terms of

Customer Lifetime Value

The marketing team of 7 Star Inc., a company manufacturing smartphones, is currently studying the size, density, location, age, and occupation of its target market. Which of the following environments is being studied in this scenario?

Demographic Environment

Which of the following types of research would be best suited for understanding the attitudes of consumers who buy a particular brand of soft drink?

Descriptive Research

The so-called green movement encouraged companies to

Develop products or use material good for environment, think bio degradable

An organization's department follows a customer-centered sense-and-respond philosophy. The department is most likely practicing the product concept.

False

Customer-managed relationships are marketing relationships that are controlled by customers, therefore, they are of no significance to marketers.

False

Fast Food, Inc. views marketing as the process of finding and retaining profitable customers by providing them with the food they want. Fast Food, Inc. practices societal marketing.

False

Market segmentation is the process of seeking fewer customers and reduced demand for profit maximization only.

False

Marketing researchers can conduct their own searches of secondary data sources by using mail questionnaires and interviewing individuals.

False

Millennials comprise the most commercially influential group in America today.

False

Most major companies have now appointed a chief privacy officer (CPO), whose job is to safeguard the privacy of the companies in the international business environment

False

Which of the following is an example of an open-end question?

How is voting going to help the nation?

Which of the following statements about income distribution in the United States is NOT true?

In recent decades the middle class has grown

Primary data consist of

Info collected for the specific purpose at hand

Brad works with a reputed retailer and leads a team that collects market information from a wide variety of sources ranging from marketing research studies to monitoring online conversations where consumers discuss Brad's firm or its products. Brad's team uses this information to arrive at a better understanding of consumer behavior and their buying motives. This, in turn, allows Brad's firm to successfully generate more value for consumers. Brad leads the

Insight

Diana, a senior marketing manager of a pizzeria in North Florida, is currently researching electronic collections of consumer information within the company network to arrive at crucial marketing decisions. In this instance, Diana is using

Internal Database

Rachel works for a furniture company in Ireland. She is responsible for buying and selling goods at a profit to small retailers. Rachel most likely operates in an

International Market

Which of the following is the final step of the marketing research process?

Interpreting and reporting the findings

Which of the following statements is true of the selling concept?

It is typically practiced with unsought goods.

An organic farmer has identified three distinct groups that might be interested in his products: vegetarians, health-conscious individuals, and people identified as trendsetters who try out new products in the market before others. These three groups are examples of

Market Segments

Maria works for Sigma Inc., a firm that helps companies target and promote their products to the right markets. Sigma is most likely a

Marketing Service Agency

Which of the following is a trend that depicts the increasingly nontraditional nature of today's American families?

Married Couples without Children Single parents Non-married households Same sex households 1 in 12 interracial

Dan has been directed to study the actors close to a company that affect its ability to serve its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. In this instance, Dan has been directed to study the

Microenvironment

In the context of geographical shifts in population, the migration toward_______ areas has resulted in a rapid increase in the number of people who telecommute.

Micropolitan

provide the resources needed by a company to produce its goods and services

Natural Environment/Suppliers

Consumers in the "lifestyles of health and sustainability" (LOHAS) market are more likely to seek

Natural, organic, nutritional products, fuel-efficient cars, alternative medicine

Which of the following is a disadvantage of using secondary data?

Rarely obtain all the data from Secondary Sources

Jolene's firm markets preplanning services for a mortician. She finds that most of her target market avoids discussing future funeral needs. She convinces people to invest in the firm's services through her large-scale promotional efforts. Jolene's firm most likely practices the

Selling Concept

For her current research project, Margaret Rogers wants to select a sample in which every member has a known and equal chance of selection. In other words, Margaret is looking for a

Simple random sample

Which of the following is true with regard to mail questionnaires?

The response rate of mail questionnaires is often very low.

Which of the following is an advantage of telephone interviews?

The speed in which data is collected is high.

Hank is an assistant marketing director for a firm in a market with many low-margin customers. What type of relationship with these customers would be the most profitable for him?

basic relationships

At Gina's retail stores, the posted policy reads, "Without our customers, we don't exist." Gina and her staff aim to delight each customer, and they are quick to offer discounts or extra services whenever a customer is anything less than satisfied. Gina and her staff strive to make every customer a repeat customer. It is most accurate to say that instead of focusing on each individual transaction, Gina and her staff put a priority on

capturing customer lifetime value

A value marketer is most likely to

combination of product quality, good service at fair price

Which of the following is true with regard to media publics?

news, features, editorial options, T.V. stations, newspapers, magazines, blogs, social media

Keith, a clothing store owner, offers product suggestions to customers based on their current purchases. Which of the following is Keith targeting to increase?

share of customer

Micropolitan areas are

small cities located beyond congested metropolitan areas

refers to socially and environmentally responsible marketing that meets the needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

sustainable marketing