GB 350 1-6.2 quiz qs

Which of the following would BEST represent a breach of the Foreign Corrupt Practices Act?

A U.S based company pays an entry fee to froeign government officials in exchange for access to a foreign market.

Which of the following is NOT a characteristic of a code of ethics?

A code of ethics should only include information about legal issues employees should watch out for.

According to the lectures, which of the following best reflect conscious consumerism?

A consumer buys a pair of shoes from Tom's, a company that donates a pair of shoes to people in need for every purchase.

Benefit Corporations allow businesses to...

Balance economic goals with environmental and/or social goals.

A landscaping company offers three different categories of service: landscape design, monthly lawn maintenance, and drainage systems. The owner uses three versions of advertisements that each focus on one particular category, because the owner realizes that any one customer is likely not looking for all three. The landscaping company is using a(n) __________________ targeting strategy.

Differentiated/multi segment

Post Up is a company that sells personalized stationery and thank-you notes. Post Up emails customers with accounts to announce a new product in the company's lineup: self-inking return address stamps. By letting existing customers know about a new product that they might like, Post Up is seeking to optimize which customer process?

EXPANSION

Milly is watching television when she sees a commercial for a new allergy drug. Being a severe allergy sufferer herself, she pays attention to the ad content. While watching, she notices that the commercial mainly focuses on the features of the drug--prescription-only and the most innovative formula yet--instead of discussing the benefits that patients receive from taking it--reduced congestion and headache relief. What concept best describes why the commercial would be ineffective?

MARKETING MYTOPIA

Which of the following is a characteristic of the CFBAI?

Participation in the CFBAI is voluntary for its members.

Which of the following is a characteristic of strategic business units (SBUs)

Plans independent of the other S B U s in the total organization

Anheuser-Busch, maker of Budweiser and other beer brands, developed a zero-carb beer named Next, which is aimed at younger, health-conscious beer drinkers. These customers already drink Anheuser-Busch brands but expressed an interest in a "healthier" option. Which type of innovation does this scenario describe?

ajacent

There is an entrepreneurs association in Smalltown. Merrick hopes that a member will invite her to join. For Merrick, the association represents a ____ reference group.

asparational

A local pet products store partners with the Humane Society for a fundraising campaign. For 2 months, the store will donate 5% of all sales proceeds to the Humane Society. This is an example of _____

cause realted marketing

Will is looking for a new car that has the following features: used, has leather seats, and costs less than $30,000. Will visits a car dealership and finds that there is not a car available that has all three of his features. He decides to purchase a used car with leather seats that costs $35,000 instead. What type of alternative evaluation model did Will use?

consepatory

Feel Better, a U.S.-based pharmaceutical company, pays an independent (not owned by Feel Better) company in India to produce its medicine. The Indian company sends the finished product to Feel Better, who markets it under the Feel Better brand name. Which method of entering the international market is best described in this scenario?

contract manufacturing

Maria went to an expensive salon for her last haircut, because she believed expensive salons would do a better job than less expensive salons. Unfortunately, Maria did not really feel as if her expensive haircut was worth the money. Maria's disappointment after her experience relates to ____________ value

derived

Apple owns and operates retail stores all over the world. For example Apple's recent new retail locations include Kawasaki, Japan, and Mexico City, Mexico. Apple does not partner with international companies, but instead maintains ownership in these markets. Which method of entering the international market is best described in this scenario?

direct investment

according to the BCG Matrix, brand/SBUs with low market share dominance and low growth are known as

dogs

Many U.S. steel sellers have asked the government to investigate Marquis, a foreign competitor in the industry. The U.S. steel sellers are accusing Marquis of ___________, or exporting products to U.S. customers at a price that is lower than prices in its own home market.

dumping

Elite Power Tools is a U.S.-based company that sells products to U.S., Canadian, and European customers. When international customers place orders online, Elite ships products to them from its U.S. warehouse. Which method of entering international markets is best being described by this scenario?

exporting

Companies should avoid self-regulating unless federal law requires them to.

false

Companies usually earn niche competitive advantages when competitors see a lot of value in entering the market

false

Strategic planning is typically only required when the company wants to design a new product

false

Shawn has an Apple iPhone with a broken screen. Instead of taking his phone to an official Apple store for repairs, he goes to a local electronics shop to have his screen replaced. This could be considered a(n) ________________ transaction.

grey market

Sherry takes a vacation for one week each year. She enjoys getting away from the stress of everyday life and relaxing. What kind of value does taking a vacation provide Sherry? hedonic

hedonic

Xavier likes music and wants to discover new music and artists. What type of value does live music provide to him?

hedonic

Charlene is trying to decide where she can buy new tires. She does not know that Wal-Mart and Joe's Body Shop sell tires. Wal-Mart and Joe's Body Shop represent Charlene's ______________ set.

inert set

Alex wants to buy a new pair of jeans. He is trying to remember the name of the last blue jean brand he purchased, because he liked the fit. By trying to remember the brand name, Alex is engaging in

internal search

which of the following is NOT a demographic factor that international marketers should consider?

language

Home Stay is a U.S.-based hotel brand with locations in the U.S. and Canada. Canadian Home Stay locations are operated by Canadian managers/owners who pay a fee to the company for the right to operate under the Home Stay name and business model. Which method of international market entry is best described in this scenario?

licensing

Pet Shed is a pet grooming business that offers a loyalty program to its customers. Program members earn points toward a free grooming service for each completed transaction. After 6 grooming transactions are completed, the member has enough points for a free grooming service as long as the service is redeemed within the next 3 months. The loyalty program goal is to encourage existing customers to buy more of the company's existing grooming services. Based on this scenario, Pet Shed is engaging in which strategy from Ansoff's Opportunity Matrix?

market penetration

Which of the following is an overall goal of marketing, according to the lectures? Please select all that apply (4 points for this question)

meet organizational objectives and create value

A business professionals association reaches out to Angelique, asking if she would like to join. She declines the offer because the group has a reputation for being snobby and not inviting hardworking small business owners that are not wealthy. For Angelique, the association represents a ___ reference group.

non-asparational

When conducting a SWOT/situation analysis, marketers should consider ___________, which are __________ factors that can influence marketing strategy.

oppertunites ; external

Maria is planning to buy her next car from a local dealership because she expects great service from the business in her home town. Expecting great service represents value of the local dealership.

percived

Jackie does not gamble at the casino because the chances that she loses money are really high and she wants to avoid that. Jackie exhibits a _____________ regulatory focus.

prevention

Jared Joins his friend group to see a movie on Friday. Going to movie would be an example of Jared interacting with ______ group.

primary

Oscar is dining at his favorite restaurant in town. When he gets the bill, Oscar notices that the restaurant now has a policy that automatically charges a 15% tip on all meals. Oscar does not think it is fair for the restaurant to require all patrons to pay a fixed tip percentage. His perceptions relate to _____________________ justice.

procedural justice

Which of the following would NOT be considered consumer behavior, according to the lectures?

returning an item, making a new years resolution, buying a concert ticket

Whenever Max needs toothpaste, he buys the Colgate brand with whitening ingredients at a local retailer. Max does not dedicate much effort to his toothpaste purchases, and they would be considered ____________________ decision making

routine

Zack's parents have always purchased lower-priced store brands of certain products, such as granulated sugar or cooking spices, in order to avoid spending money on premium brands that they believe are exactly the same but more expensive. As an adult, Zack purchases lower-priced store brands for this reason. The passing down of his parents values to Zack represents the process of _____________.

socialazation

Max usually waits until he has one roll of paper towels left at home before he decides it is time to buy more. Marion is usually ready to restock her paper towels when she is down to two rolls. These differences illustrate that need recognition is _________________.

subjective

_____________ proposes that businesses who engage in socially responsible marketing practices will outperform their competitors that do not.

sustainability theory

The government of Fauna allows imports of up to 500 tons of coconut oil with no tariff. Additional imports are allowed beyond 500 tons, but they are charged a 20% tariff. The government of Fauna is using a(n) ________________________ in this scenario.

tairiff rate quota

When Country A's imports from Country B are greater than Country A's exports to Country B, Country A is experiencing a ______

trade deficit

Kenya is taking 15 hours of college courses this semester. She does not enjoy some of her coursework, but she knows that it is required in order to finish her degree. What kind of value does Kenya receive from doing her coursework?

utilitarianism

Lavon pays for his car insurance every month. Like many, Lavon considers buying insurance to be a chore, but he knows he needs it. What kind of value is car insurance?

utilitarionsim

Which of the following is part of the Implementation stage of the marketing plan

GAINING ACCEPTANCE FROM THOSE INVOLVED

Which of the following is an obstacle that organizations with societal orientations might face, according to the lecture? Select all that apply (4 points for this question)

Justifying premium prices AND meeting customer performance expectations

Organizations who win the prestigious Baldrige Award are recognized for approaching marketing with a _____________ perspective.

MARKET

The Dyrt offers a campground-finder app for avid campers. The company focuses on determining and optimizing what app features matter the most to their users. In addition, the founder, Sarah Smith, offers $400 bonuses per quarter to any employee who uses the app and provides a field report with recommendations for optimizing the user experience. What kind of orientation/philosophy does The Dyrt have?

MARKET OREANTAION

Companies with production orientations/philosophies tend to focus on what they do well instead of considering customer preferences

TRUE

Jane purchases a coat that is 30% off on sale at a local clothing retailer, that promotes a 30-day return policy. When she gets home and tries the coat on with her other clothes, Jane realizes that she does not really like the fit. She takes the coat back to the retailer, but the customer service employee says that the 30-day return policy does not apply to sale items. Jane is furious that this information was not provided to her at the time of purchase. What condition for exchange did the retailer not meet

Terms of the exchange are appropriately communicated and received by each party

Athena loves her dogs. No matter what she has going on, she always ensures they are well taken care of. Because of her love for her dogs, Athena dedicates a lot of effort when selecting the best pet food and toys for them. Athena exhibits ______________ involvement with her dogs, and _____________ with the pet food and toys she purchases.

Enduring involvement, product

Many Amazon sellers offer two different ways for customers to purchase products: a one-time purchase or a monthly subscription at a discounted rate. What customer stage would the subscription option be seeking to optimize?

RETENTION

Better Place Brands is a collection of eCommerce coffee and apparel brands. Each brand is associated with a particular dog breed (e.g., Boxy Browns Coffee is associated with boxers). Better Place Brands donates 20% of all product sales to charitable organizations for the namesake dog breed. What type of orientation/philosophy does Better Place Brands have?

SOCIATAL