marekting 1

Vertigo is an electronics company. According to the BCG matrix, which of the following products of Vertigo would most likely classify as a question mark?

Blue — a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily

________ is a discomfort caused by postpurchase conflict

Cognitive dissonance

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.

________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert social influence on others

Opinion leaders

________ refers to working closely with people inside and outside the company to jointly bring more value to customers.

Partner relationship management

________ is the process by which people select, organize, and interpret information to form a meaningful picture of the world.

Perception

________ refers to the unique psychological characteristics that distinguish a person or group.

Personality

_______ is the degree to which an innovation appears superior to existing products.

Relative advantage

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.

A(n) ________ describes a person's relatively consistent evaluations, feelings, and tendencies toward an object or idea.

attitude

A consumer who is potentially profitable but not loyal to a firm's offerings is referred to as a ________.

butterfly

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

consumers' existing wants

The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is referred to as ________

customer relationship management

Corning produces Gorilla Glass screens that are used in the production of laptops, tablets, and smartphones. Corning promotes its product to final consumers to increase business demand for digital devices made with the specialized, toughened glass. This illustrates ________.

derived demand

Recyclable or biodegradable packaging, recycled materials and components, and better pollution controls are ways that marketers have responded to the ________.

environmental sustainability movement

In which of the following stages of the adoption process does a consumer consider whether trying a new product makes sense?

evaluation

The process that turns marketing plans into marketing actions to accomplish strategic marketing objectives is called marketing ________.

implementation

The two dimensions the BCG approach uses to evaluate and manage SBUs are ________

market growth rate and relative market share

Consumers' needs and wants are fulfilled through ________

market offerings

A strategy for company growth that involves increasing sales to current market segments without changing the product is known as ________.

market penetration

Dividing a market into several sections of customers is known as ________.

market segmentation

When Goodyear sells replacement tires to final consumers, its potential market includes millions of car owners around the world. But its fate in business markets depends on getting orders from only a handful of large automakers. This represents the difference in ________ between business and consumer markets.

market structure

A ________ is purposeful, specifying what an organization wants to accomplish in the larger environment.

mission statement

A business buyer is considering a change in product specifications, terms, and possibly suppliers. This buying situation is referred to as a(n) ________.

modified rebuy

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

Which of the following is the first stage of the buyer decision process?

need recognition

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

obsolete technologies used by the company

During which stage of the business buying decision process is a buyer most likely to conduct value analysis by carefully studying components to determine if they can be redesigned, standardized, or made less expensively?

product specification

According to Maslow's hierarchy of needs, which of the following is most likely an esteem need?

status

A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a(n) ________.

straight rebuy

Which of the following is most likely the final stage of the business buying decision process?

supplier performance review

Which of the following best describes the value chain of a company?

the series of departments that design, produce, market, deliver, and support the company's products

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

the suppliers who work with the company

Ainsworth is a toy manufacturer based in Australia. Which of the following most likely indicates that Ainsworth is following a diversification strategy Answers: Ainsworth develops a new line of educational toys targeting its current market. Ainsworth introduces its toys in the Indian and South-East Asian markets. Ainsworth increases its spending on advertising and promotion. Ainsworth enters the U.S. market with a line of children's clothing. Ainsworth acquires the rights to manufacture toys resembling a popular cartoon character.

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

________ is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.

Demography

Which of the following is true of strategic planning in a firm? It focuses on the firm's internal environment rather than the external environment. It involves preparing short-term investment objectives at the product level. It occurs at the business-unit, product, and market levels rather than at the corporate level. It deals with adapting the firm to take advantage of changing marketing opportunities. It deals with maintaining the company's current business ventures.

It deals with adapting the firm to take advantage of changing marketing opportunities.

________ refers to the portion of the customer's purchase that a company gets in its product categories.

Share of customer

Which of the following statements is true in the context of the BCG growth-share matrix? The income from one SBU cannot be used to support other business units. Stars often need heavy investment to finance their rapid growth in a market. Dogs promise to be large sources of cash. Cash cows typically turn into stars.

Stars often need heavy investment to finance their rapid growth in a market

________ is defined as a business strategy where business buyers prefer to buy a complete solution to a problem from a single seller rather than buying and consolidating separate products and services from several suppliers.

Systems selling

Which of the following statements about buying centers is true?

The buying center is not a fixed and formally identified unit within a buying organization.

Which of the following is a difference between the marketing concept and the selling concept?

The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products.

The final step in the marketing process is ________

capturing value from customers

In the BCG matrix, ________ refer to low-growth, high-share businesses or products.

cash cows

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

A consumer advocacy group challenges a firm's decision to build a new warehouse in a small community. The advocacy group is an example of a ________ public.

citizen-action

Which of the following sources of product information can marketers control completely?

commercial

GenX, a manufacturer of sport motorcycles, is seeking a new supplier of motorcycle headlamps and brake lights. After searching trade directories, GenX invites five different suppliers to make formal presentations about how their solutions can create greater value for GenX than competing solutions. GenX is currently in the ________ stage of the business buying decision process.

proposal solicitation

Which of the following is the means by which companies post purchase requests online and invite suppliers to bid for their business?

reverse auctions

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

A ________ is made up of a company, its suppliers, its distributors, and its customers who partner with each other to improve the performance of the entire system.

value delivery network