DO Wiley Plus Quiz 1-5

Which is typically the first consideration in a firm's marketing mix? A. Price B. Place C. Promotion D. Product

D. Product

The United States economy is currently dominated by which category? A. Agriculture B. Manufacturing C. Digital marketing D. Services

D. Services

Which is a sub-group within an organization that designs its own strategy and has its own customers? A. Brand B. Marketing unit C. Division unit D. Strategic business unit

D. Strategic business unit

Which of the following will increase sustainability? A. Using all plastic products B. Burning coal for power C. NOT having recycling bins D. Using solar power

D. Using solar power

The combination of product, price, place, and promotion defines a A. marketing objectives. B. marketing activities. C. marketing plan. D. marketing mix.

D. marketing mix.

Defining your mission too narrowly and missing environmental trends defines what? A. unfocused strategy B. mission statement unclarity C. poor planning D. marketing myopia

D. marketing myopia

Which term is most applicable to couples living in households as unmarried partners? A. Cohabitation B. End consumers C. Publics D. Resellers

A. Cohabitation

If you had a successful car repair facility and needed to know more about how frequently your customers came in and whether you were meeting their servicing needs, what kind of research should you do or commission to help address this marketing issue? A. Descriptive B. Experimental C. Determinant D. Service focused

A. Descriptive

Alicia was thinking about how to grow her greeting card store, and she wondered if adding some gift lines or maybe candles might help increase sales. Her friend, Jessica, suggested using market research to help make the decision. What kind of research would be best for Alicia in this situation? A. Exploratory B. Retail focused C. Causal D. Descriptive

A. Exploratory

Which is identified as the foundation for the marketing plan? A. Market research B. Target market segmentation C. Market plan development D. Value proposition development

A. Market research

What provides a snapshot of key marketing and performance measures? A. Marketing dashboard B. Marketing audit C. Marketing safeguard D. SWOT analysis

A. Marketing dashboard

Which term best describes anything in the environment that directly affects or is directly affected by the marketing manager's decisions? A. Micro-environment B. Macro-environment C. Mature Economy D. Market

A. Micro-environment

Evaluation provides feedback for which purpose? A. Modifying both plans AND implementation B. Modifying plans C. Modifying neither plans NOR implementation D. Modifying implementation

A. Modifying both plans AND implementation

Which of the following is NOT one of the 4Ps of marketing? A. Perception B. Place C. Promotion D. Price

A. Perception

Executing a successful marketing strategy involves which three major steps? A. Plan, implement, evaluate B. Develop, execute, report C. Plan, implement, execute D. Execute, evaluate, adjust

A. Plan, implement, evaluate

Rebecca was meeting with a number of colleagues from other firms at a marketing research conference, and she noticed they all had similar complaints about surveys. They all used them, but they all recognized their many shortfalls. If surveys are such a problem, why do firms use them? A. Surveys are fast, quick and easy, which provides limited results. B. Surveys can be machine coded, which yields better results. C. Surveys help to build goodwill with potential customers, which leads to increased sales. D. Surveys are well understood by respondents, which leads to more reliable results.

A. Surveys are fast, quick and easy, which provides limited results.

The breadth of marketing decisions is referred to as what? A. The 4Ps of marketing B. The marketing plan C. The creative concept D. The marketing strategy

A. The 4Ps of marketing

Marketing research should not be considered a single, one-time event, so creating a useful decision support system requires an ongoing, systematic approach to research. A. True B. False

A. True

The micro-environment is sometimes referred to as the internal environment. A. True B. False

A. True

When analyzing qualitative data, one major problem is interpreting what the researcher read, heard and saw. A. True B. False

A. True

Because his firm collected sales reports, purchase records and customer information, Steve was able to make better marketing decisions, which led to consistently better marketing plans. Steve was able to use effectively the firm's A. decision support system. B. accounting information system. C. internal wiki. D. big data protocol.

A. decision support system.

Planning involves all of the following EXCEPT A. tactics. B. actions. C. budget. D. goals.

A. tactics.

Different value propositions maximize value for different: A. target customers. B. genders. C. age groups. D. income groups.

A. target customers.

The combination of benefits forming a value proposition will do what? A. Maximize value for all potential customers. B. Appeal to some groups of customers but not all. C. Appeal to the maximum amount of customers. D. Maximize sales.

B. Appeal to some groups of customers but not all.

As costs and skills needed for good research are beyond what small business can afford or use, marketing research is limited to large businesses. A. True B. False

B. False

Which term means a firm's business focus that provides direction for the company? A. Marketing mix B. Mission statement C. Organizational structure D. Strategic plan

B. Mission statement

Which term best describes data that already exists, collected for another purpose that can be used to address a research problem? A. Causal data B. Secondary data C. Market data D. Primary data

B. Secondary data

Julia was frustrated that she could not get the information she needed for the new marketing campaign. There was plenty of information relevant to the new campaign, but the problem she faced was that the information A. did not contain pricing history. B. could not be manipulated for the analysis she needed. C. did not have enough data on social media usage. D. went back too far in the company's history.

B. could not be manipulated for the analysis she needed.

The key to value creation is: A. benefits. B. perception. C. willingness to pay. D. cost.

B. perception.

Many employers are trying to market the work/life balance of their work environment to potential employees; what component of the macro-environment are these employers focusing on? A. Economic/Financial B. Technological C. Social/Cultural D. Political/regulatory/legal

C. Social/Cultural

Which skill set is required to be a good marketer? A. Experience in professional sales B. Understanding algebra and calculus C. Basic math skills D. A high degree of creativity

C. Basic math skills

Which term best describes the most important micro-environment element, the opposite partner in an exchange? A. Competitor B. Company C. Customer D. Suppliers

C. Customer

In a period of companies having a market orientation, which of the following was true? A. The percentage of customers in the middle class decreased. B. Manufacturing grew as the dominant sector. C. Customers became more sophisticated buyers. D. Levels of competition decreased.

C. Customers became more sophisticated buyers.

Which term best describes a market that is changing rapidly and does not have stable competitors or customers? A. Established Markets B. Macro-environment C. Evolving Markets D. Federal Trade Commission (FTC)

C. Evolving Markets

Carly has discovered that getting customers and potential customers to talk with each other about their impression of the new products is invaluable. She tried developing individual responses, but they seemed one-sided and not very interesting. Carly favors which qualitative marketing research technique at this point? A. Ethnography B. Observation C. Focus groups D. Personal interviews

C. Focus groups

Which of the following statements is true? A. Marketing is more of an art than a science. B. Marketers are often able to make people buy something against their will. C. Marketers try to influence wants, but customers ultimately decide if something is worth buying or not. D. Marketing is primarily based on the science of human behavior.

C. Marketers try to influence wants, but customers ultimately decide if something is worth buying or not.

What investigates all or part of the marketing mix to check for problems? A. SWOT analysis B. Marketing dashboard C. Marketing audit D. Marketing safeguard

C. Marketing audit

Which term BEST describes methods used to watch what customers do and recoding patterns of interest? A. Research B. Data Collection C. Observation D. Ethnography

C. Observation

In a SWOT analysis, which two considerations are internal to the organization? A. Opportunities and threats B. Strengths and opportunities C. Strengths and weaknesses D. Weaknesses and threats

C. Strengths and weaknesses

As the United States economy became more specialized in information technology, what has occurred? A. Social media activities originating with businesses have begun to decline. B. Opportunities for future interaction have been minimized. C. The opportunities for social interaction between consumers and businesses have increased. D. Levels of social interaction have reached their maximum level and begun to decline.

C. The opportunities for social interaction between consumers and businesses have increased.

How many factors make up the marketing environment? A. 4 B. 3 C. 1 D. 2

D. 2

Which term best describes a market having relatively stable competitors and customers? A. Macro-environment B. Federal Trade Commission (FTC) C. Evolving Markets D. Established Markets

D. Established Markets

Which term indicates actually putting a marketing plan into effect? A. Monitoring goals and objectives B. Establishing safeguards C. Evaluation and control D. Implementation

D. Implementation

Which element would be categorized in the micro-environment for managers at Ben & Jerry's? A. Legal regulations B. Population trends C. Cultural beliefs D. Ingredients

D. Ingredients

Which of the following is a major problem in causal research? A. Its nature makes it difficult to obtain accurate and reliable information. B. It is more appropriate for scientific or academic purposes that for practical marketing matters. C. It is by far the most expensive type of research marketers use. D. It can be difficult to identify and test all the reasons customers use to make decisions and act.

D. It can be difficult to identify and test all the reasons customers use to make decisions and act.

Marketing is best described as what? A. Creating needs and wants B. Advertising C. Sales D. Managing exchanges

D. Managing exchanges

Which term best describes a collection of buyers and sellers interested in making similar or related exchanges? A. Mature Economy B. Developing Economy C. Publics D. Market

D. Market

Which term best describes the combinations of controllable and uncontrollable forces that affect a marketing decision? A. Micro-Environment B. Market Share C. Marketing intermediaries D. Marketing Environment

D. Marketing Environment