bus test 1 ch.1,2,3

Which of the following is most likely a consequence of the Great Recession of 2008 to 2009?

ore sensible and mindful consumption

Sally purchased a newly introduced moisturizing lotion. By attempting to find out if the lotion's perceived performance matched her expectations, Sally was measuring her level of customer ________.

satisfaction

GT Grand, a manufacturer of ultra-luxury cars, supplies customized vehicles based on the demands of customers in affluent market segments. The company's approach is most likely referred to as ________.

target marketing

Which of the following is an example of a media public?

television station

Which of the following is most likely a characteristic of Generation Xers?

They were the first group to grow up in the Internet era.

Which of the following is most likely a true statement about diversity in the United States?

Various ethnic groups mix together but also retain their cultural differences.

Which of the following companies is using a divesting strategy?

When sales of its clothing division decline, Blackstone sells the division to a competitor.

Which of the following products would the electronics company CypressSound classify as a cash cow in its BCG matrix?

Xpress-an MP3 player that has a high market share in a market that is not expected to grow significantly

Which of the following is an example of a local public?

a community organization that addresses welfare issues in its neighborhood

Which of the following changes most likely forced marketers to shift to value marketing after the Great Recession of 2008/2009?

a decrease in customer spending in all product categories

Which of the following is an example of cause-related marketing?

a firm selling electronics and giving a percentage of sales to charity

Which of the following is part of the microenvironment of a company's marketing environment?

a just-in-time inventory system used by the company when making purchase decisions

JJ Distributors Ltd. buys electronic products from manufacturers for wholesale and sells them to various retail outlets. To which of the following markets does JJ Distributors Ltd. directly cater?

reseller markets

Which of the following is most likely a characteristic of the Millennial generation?

They like to engage in two-way brand conversations.

Which of the following is most likely true about people's beliefs and values?

Core beliefs and values have a high degree of persistence.

Ainsworth is a toy manufacturer based in Australia. Which of the following most likely indicates that Ainsworth is following a diversification strategy?

Ainsworth enters the U.S. market with a line of children's clothing.

Which of the following best describes a marketing department with a functional organization?

Different marketing activities are headed by specialists such as sales managers, advertising managers, marketing research managers, and customer service managers.

Which of the following is most likely a true statement about the technological environment of a firm?

Every new technology makes an older technology obsolete.

The owner of the local dairy farm successfully obtained a much needed plow from the local machine shop by offering 100 pounds of free butter in return. This act is known as __________.

Exchange

Which of the following is an example of consumer-generated marketing?

Fun & Run, a local amusement park, promotes its services by allowing consumers to upload videos and write reviews about the park.

Which generational group is most likely less materialistic when compared with other groups?

Generation X

Which of the following is a demographic trend observed in the United States?

More people are working remotely.

Which of the following is true of mobile marketing?

Marketers use mobile channels to stimulate immediate buying.

Greyzone, a company that creates customized household furniture, is based in Terrania and is looking to enter other countries as well. The company identifies the country of Nyevka as a good option because the entry barriers for new companies are low in Nyevka. Which statement indicates that Greyzone follows a diversification strategy?

Noting that Nyevka lacks well-established suppliers of office equipment, Greyzone begins to manufacture and supply office equipment.

Kobe Healthcare's analgesic drug Dilophin has a 45% share in the analgesics market in the country of Bodonia. Its closest competitor, Caritin, has a 25% share in the market, while three other drugs split the remainder. Which statement indicates that Dilophin is a star according to the BCG matrix?

The Bodonian market for healthcare products is expanding rapidly.

Which of the following is most likely a true statement about generational groups in the United States?

The Generation Xers are the most educated generation to date.

Omni Healthcare's analgesic drug Cetaprin has a 40% share in the analgesics market in the country of Terrania. Its closest competitor, Febex, has a 25% share in the market, while four other analgesic brands split the remainder. Which statement indicates that Cetaprin is a cash cow according to the BCG matrix?

The demand for analgesic drugs in the Terranian market is expected to remain stable.

Which of the following is most likely a true statement about baby boomers?

They are the wealthiest generation in U.S. history.

Which of the following is most likely true about companies that take a proactive stance toward the marketing environment?

They develop strategies to change the marketing environment.

Secure is a financial services and insurance company. The company's most profitable division is one that sells the Secure Future Plan. The Secure Future Plan targets customers who are entering retirement and want long-term savings so they can remain financially independent in the later years of their life. The marketing team at Secure has most likely targeted the plan at ________.

baby boomers

Carla, a team leader in charge of customer relationship management, is planning strategies to improve the profitability of her firm's least profitable but loyal customers. She is also examining methods for "firing" customers in this group who cannot be made profitable. To which of the following customer relationship groups do these customers belong?

barnacles

Fine Corp., a consumer electronics manufacturer, targets a market with many low-margin customers. Which of the following types of associations would be most profitable for the firm to develop with these customers?

basic relationships

Dextora Technologies manufactures microprocessors and caters exclusively to private manufacturers that produce high-end computers. Which type of market does Dextora directly target?

business market

At Ken's boutique, the policy statement posted in the reception states: "Without our customers, we don't exist." Ken and his staff aim to delight each customer and they are quick to offer discounts or extra services whenever a customer is anything less than satisfied. Instead of focusing on individual transactions, Ken and his staff are putting a priority on ________.

capturing customer lifetime value

Marketers at Mouse Trap Inc. are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on ________.

consumers' existing wants

Ursa Martin, a book publisher, has decided to work with Hope in Children, a charity foundation that helps feed and educate children in poor countries. Ursa Martin has decided that a percentage of revenue from every book it sells will go to the charity. The books are marketed by conveying this message to customers. Which of the following marketing techniques describes Ursa Martin's association with Hope in Children?

cause-related marketing

The Niketown running community organizes bimonthly athletic training programs for Nike buyers. This is an example of a ________.

club marketing program

Subsistence economies are best defined as economies that ________.

consume most of their own agricultural output and offer few market opportunities

Ellis, a marketing manager at a regional chain restaurant, has decided to create a contest asking the public to create commercials for the restaurant. Winning entries will be posted on the organization's home page. Ellis' plan is an example of ________.

consumer-generated marketing

Cylog, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by Cylog?

customer-driving marketing

Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a(n) ________.

demand

Changes in variables, such as income, cost of living, interest rates, and savings and borrowing patterns most likely reflect changes in the ________ environment of a company.

economic

Monfax Corporation insures manufacturers, distributors, and consumers against the loss or damage of goods during transportation after a purchase or sale. In this case, Monfax is an example of a ________.

financial intermediary

Reseller markets consist of ________.

firms that buy goods and services to sell at a profit

Which of the following has resulted from the increased educational levels of the U.S. population?

greater job growth for professional workers

Acme Inc., a manufacturer of construction and mining equipment, is based in Australia. Acme modifies the production processes of its widgets and gadgets to sell its current products in Eastern Europe. This is most likely an example of a ________ strategy.

market development

Which of the following represents a change in the technological environment of a marketing firm?

increased use of RFID systems to track products

The town of Genter recently witnessed a devastating hurricane that crippled the town's infrastructure. Q-Mart, a retail chain that plans to open a new retail store in Genter, organizes a program to help the people of Genter. The program consists of providing free meals to those who lost their dwellings in the hurricane. What section of the marketing microenvironment is Q-Mart most likely trying to reach?

local publics

RedInk, a company that manufactures office furniture, is based in Bodonia. It is looking to sell its current products in other countries as well. The company identifies the country of Soleria as a good option because the cultures and tastes of consumers in the two countries are similar. This is an example of a strategy for ________.

market development

EcoBean, a chain of cafes, has introduced a Special Shopper Card that allows customers to pay in advance for coffee and snacks. This effort by EcoBean management is most likely an example of ________.

market penetration

Indigo, a company that manufactures electric chimneys, is based in the country of Terrania. Indigo aims to increase its sales by increasing advertising efforts and undertaking frequent promotional events. Which of the following strategies is Indigo using in this scenario?

market penetration

Which of the following is a geographic shift that has been observed in the United States in recent times?

more Americans moving to micropolitan areas

Fargo Inc. is a carbonated beverage manufacturer that has many manufacturing plants around the world. It is planning to shift from using thermal power to wind power for its manufacturing plants in the Netherlands to decrease dependency on nonrenewable sources of energy. This scenario depicts Fargo's concern for its ________ environment.

natural

In a SWOT analysis, which of the following would be considered a weakness of a company?

obsolete technologies used by the company

Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This most likely reflects the ________.

production concept

Traxx is a newly emerging shoe manufacturing company. After extensive market research, Traxx divides its market into professional athletes, "hobbyists" or amateur players, and people who wear shoes as part of their casual attire. Each category has its own needs, traits, and marketing goals. In this scenario, Traxx has engaged in market ________.

segmentation

The state department of health has allotted a significant amount of money for an advertising campaign that emphasizes the ill effects of smoking and spans radio, print, television, and online media. This is an example of ________ marketing.

social

Which of the following is most likely a financial public?

stockholder

Which of the following is part of the microenvironment of a firm's marketing environment?

the suppliers who work with the company

Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy. The CEO stresses that the new mission statement should be market-oriented rather than product-oriented. Which of the following mission statements will best suit the company?

to give customers the complexion they dream about by providing products suited to their needs