Business Final

The goal of continuous innovation is to distinguish a product from the competition.

True

The marketing concept hold that delivering unmatched value to customers is the only effective way to achieve long term profitability.

True

An example of a pure service is: a. a car service center that sells automobile parts. b. a watch that also acts as an altimeter and a compass. c. an accountant providing financial consultation to a firm. d. a delivery truck delivering pizzas to customers.

C

Which of the following identifies how reliably a product delivers its promised level of quality? a. The primary features of the product b. The augmented benefit that the product offers c. The life cycle of the product d. The product consistency

D

A marketing plan is a formal document that defines marketing objectives and the specific strategies for achieving those objectives.

True

Form unity satisfies wants by converting inputs into a finished form.

True

In the context of marketing research, secondary data is existing data that marketers gather or purchase for a research project.

True

Primary data is the new data the marketers compile for a specific research project.

True

Pure services are projects that do not include any goods.

True

The price of a product must be relative to the benefits of that product.

True

The social/cultural element of the marketing environment covers a vast array of factors, including lifestyle, customs, language, attitudes, interests, and population shifts.

True

Through the use of technology, marketers can lower costs and deliver greater value to their customers.

True

Your target market is the group of people who are most likely to buy your product.

True

The goal of the _____ of a product is to deliver the product to the right people, in the right quantities, at the right time, in the right place.

d- distribution strategy

Monitoring and predicting consumer behavior is an objective of _____.

d- marketing research

In the context of the marketing mix, the _____ of a product includes all of the ways that marketers communicate about the product.

d- promotion strategy

Demographic segmentation refers to dividing the market based on where consumers live.

False

Escribo Marketing holds annual blood donation camps and conducts other similar charitable events in educational institutions. Escribo Marketing is using people marketing?

False

In the context of the marketing mix, the distribution strategy includes all of the ways that marketers communicate about their productions.

False

Manufacturers rarely emphasize packaging because this aspect of the product has little relevance to a customer's decision-making process.

False

People marketing involves drawing people to a particular place.

False

Recycle, don't drink and drive, buckle your seatbelt, support out political party, donate blood, and don't smoke are all examples of popular causes that use event marketing.

False

Survey research is the marketing research that does not require the researcher to interact with the research subject.

False

The commerce ministry of Setina Islands, a tax haven country, has been advertising the country's business opportunities and tourist-friendly culture in various international magazines. The advertisements illustrate idea marketing.

False

The marketing concept has gathered momentum across the economy, leading to the marketing era unfolding over the last decade, which zeros in on long-term customer relationships.

False

Livesheer, a youth-focused clothing brand, signs a contract with the organizers of a music festival. Under the contract, the organizers of the music festival promise to display the brand's banners across the venue. Also, as part of its promotional strategy, Livesheer distributes some of its goodies for free among the crowd. The scenario exemplifies _____. a. sponsorship b. cross-selling c. lobbying d. vertical integration

a-sponsorship

Coastharp, a furniture e-commerce website, allows its customers to book one-hour slots during which they wish to get their furniture delivered. They can also book another one-hour slot to get the delivered furniture assembled at their convenience. The company holds back orders and delays deliveries when customers are not available to receive them. In the context of marketing, which of the following utilities does Coastharp most likely provide through its service? a. Form utility b. Time utility c. Possession utility d. Ownership utility

b

If the core benefit that a consumer seeks is READING then a BOOK is _____. a. virtual product b. actual product c. secondary product d. augmented product

b

Which of the following is a difference between demographic segmentation and geographic segmentation? a. Demographic segmentation refers to dividing the market based on how people behave toward various products, whereas geographic segmentation refers to dividing the market based on consumer attitudes, interests, values, and lifestyles. b. Demographic segmentation refers to dividing the market based on measurable characteristics about people, whereas geographic segmentation refers to dividing the market based on where consumers live. c. Demographic segmentation refers to dividing the market based on where consumers live, whereas geographic segmentation refers to dividing the market based on how people behave toward various products. d. Demographic segmentation refers to dividing the market based on consumer attitudes, interests, values, and lifestyles, whereas geographic segmentation refers to dividing the market based on measurable characteristics about people.

b-

The coastal town of Olaspen offers various exotic water sports and hiking expeditions to its tourists. The town government of Olaspen advertises its adventure tourism in travel magazines, newspapers, and on the television in neighboring countries. Which of the following marketing strategies does this scenario best illustrate?

b- Place Marketing

Neone is an energy drink manufacturer. The marketing strategies of Neone are focused on males who are in the age group of 16 to 25 years and who enjoy sports and other outdoor activities. The company advertises its products at skateboard parks, basketball venues, and ski resorts. The customer group that Neone focuses on is called its _____.

b- Target Marketing

In the context of marketing research data, an example of primary data is _____.

b- a focus group

_____ is a paid, nonpersonal communication, designed to influence a target audience with regard to a product, service, organization, or idea. a. Public relations b. Advertising c. Propaganda D. Campaigning

b-Advertising

_____ refers to how well a product performs its core function. a. Product line b. Quality level c. Perishability level d. Licensing

b-Quality level

An example of a pure good is: a. a bed and breakfast b. a dual-colored reversible jacket c. an online grocery store d. a haircut at a premium salon

b-a dual-colored reversible jacket

Jackson runs a chain of small retail stores called Wandmin that sells bottled water, fresh juices, desserts, and some snacks. All outlets of Wandmin are either in the middle of or at the end of walking trails in Jackson's hilly hometown, where several tourists go hiking. In the context of marketing, which of following utilities does Wandmin most likely provide? a. Form utility b. Time utility c. Place utility d. Ownership utility

c

Katherop, a company that manufactures and supplies baby clothes, conducts a charity program every year to distribute free products to the underprivileged children in rural areas. The company advertises this program to gain attention of its customers. Which of the following marketing strategies does this scenario best illustrate? a. People marketing b. Place marketing c. Event marketing d. Relationship marketing

c

One of the benefits of licensing is: a. lesser legal restrictions. b. ease of finance from the parent company. c. instant name recognition. d. that it safeguards the company's products as an exclusive entity.

c

Which of the following is an example of survey research? a. Scanner data from retail sales b. Traffic counters to determine where to place billboards c. Online questionnaires d. Garbage analysis to measure recycling compliance

c

The Internet has opened the door for _____, which is creating products tailored for individual consumers on a large scale.

c- mass customization

Habetts, a company that sells cell phone accessories, introduced a new range of cell phone covers in various patterns that read the following: "I don't drink and drive because I love my family." Which of the following marketing strategies does this scenario best illustrate? a. People marketing b. Place marketing c. Event marketing d. Idea marketing

d

In the context of consumer promotion tools, _____ entice consumers with cash-back offers and act as purchase motivators for higher-priced items. a. samples b. coupons c. premiums d. rebates

d

Jared Elmer is the presidential candidate of National Ernest Party, a political party. The party's election campaigns have been focusing on projecting Jared's educational qualifications, political background, ancestral glory, etc. Which of the following marketing strategies do the election campaigns illustrate? a. Place marketing b. Idea marketing c. Green marketing d. People marketing

d

Spalkyn, a footwear company, allows its customers to shop online on its website or mobile app or at its physical stores. At the company's physical stores, customers are given the option to pick up their products or have them delivered. In the context of marketing, which of following utilities does Spalkyn most likely provide? a. Form utility b. Time utility c. Task utility d. Ownership utility

d

Walt owns an auto repair shop in Northern Rottasa. He goes an extra mile to please his customers by providing comfortable and attractive waiting rooms, friendly service, and long-term warranty on all repair work. Which of the following philosophies has Walt employed to make his customers highly satisfied? a. The socially responsible marketing concept b. The production concept c. The hard sell concept d. The marketing concept

d

LiteChoice produces six different flavors of sugar-free cookies for the diabetic population. The company also produces a large assortment of sugar-free chocolates targeted at the same population. The two kinds of products-the sugar free cookies and chocolates-that LIteChoice produces represent the _____. a. product chain b. marketing mix c. brand equity

d-

_____ is the description of how people act when they are buying, using, and discarding goods and services for their own personal consumption.

d- Consumer behavior

Understanding the _____ begins with analysis of market share.

d- competitive environment

A downside of publicity is that: a. it is often perceived by consumers as an untrustworthy and unethical practice. b. the marketer has no control over how the media present the company or its products. c. it is a highly expensive affair. d. it lacks proper planning.

B

A health-drink company faces a lot of flak for misquoting the nutritional facts on its product packages. Once it clears the charges, the company hires a firm that helps it in reviving a positive image in the media as well as the broader community. The firm's primary task is to constantly communicate with the media personnel and make sure that the media runs unpaid stories that create a favorable impression about the company. This scenario exemplifies the use of: a. lobbying. b. public relations. c. social marketing. d. greenwashing strategies.

B

In the context of emerging promotional tools, which of the following is a popular term for buzz marketing? a. Transactional marketing b. Viral marketing c. Cause marketing d. Scarcity marketing

B

The characteristics of a product that a marketer offers are known as _____. a. product facets b. product features c. product qualities d. product visions

B

Which of the following statements is true of public relations? a. It involves circulating stories in the media in exchange for a high fee. b. It is used to create a favorable impression about a company or its products. c. It refers to influencing the government toward making favorable policies. d. It is communication that is restricted to a company's external stakeholders.

B

_____ tools include premiums, promotional products, samples, coupons, rebates, and displays. a. Product placement b. Consumer promotion c. Personal selling d. Sponsorship

B

For successful product differentiation, _____. a. the difference between a product and its competitor products should be large rather than small b. marketers should put most of their efforts into developing an appropriate brand name c. a product should not only be different from its competitor products but also be better d. a product should have a higher cost than its competitor products

C

Keitras is a women's apparel store that specializes in winter clothing. It targets university students aged 20-25 with its trendy collection of sweaters, sweatshirts, stockings, and stoles. In the context of consumer market segmentation, which of the following types of market segmentation does Keitras most likely follow? a. Demographic segmentation b. Behavioral segmentation c. Customer-based segmentation d. Geographic segmentation

a

Vermontz, an automobile company, pays a film studio to include its new sports car in two scenes of its latest action movie. The company feels this would help them gain maximum visibility, and the fans would also develop a positive association with the brand when they will see their favorite actor using the car in the film. Vermontz's business deal with the film studio exemplifies _____. a. product placement b. viral marketing c. sponsorship d. native advertising

a

_____ is the ongoing process of acquiring, maintaining, and growing profitable customer associations by delivering unmatched value.

a- Customer relationship management

The _____ is a business philosophy that makes customer satisfaction—now and in the future—the central focus of the entire organization.

a- Marketing concept

In the context of business product categories, the marketing of business services: a. focuses on quality and relationships b. emphasizes productivity c. focuses on providing emergency products d. emphasizes standardization

a-focuses on quality and relationships

Jim works in the marketing department of a smartphone manufacturing firm. He is currently working on ideas for a new package design for the company's latest range of smartphones. In the context of the company's marketing mix, Jim's ideas contribute to the _____.

c- product strategy

Kiddiecon, a company that makes stationery products for children, signs a contract with an animation studio to use one of its popular cartoon characters as a design on its school bags. Kiddiecon's contract with the animation studio is an example of _____. a. a divesture b. cobranding c. licensing d. an acquisition

c-licensing

The technology of _____involves taking specific steps to ensure that a particular Web site appears high on the lineup when customers look for a product or service via Yahoo! or Google. a. online video advertising b. web scraping c. search engine optimization d. native advertising

c-search engine optimization

Christopher works overtime for a project in his office. On his day off, he goes to watch a comedy movie to ease the stress. Christopher finds the movie entertaining, and it helps him relax. In the context of product layers, entertainment, in the scenario, represents the _____ of the movie? a. implied benefit b. explicit benefit c. combined benefit d. core benefit

d-core benefit