Marketing

15. When OXO first developed a potato peeler, its adoption rate was influenced by its relative advantage vs. products that already existed in the market. A. True B. False

A

16. Many customers have purchased OXO's higher-priced potato peeler once, but have not tried any other OXO products. These buyers represent which type of customer on the customer relationship management matrix? A. Butterflies B. Barnacles C. True Friends D. Strangers

A

5. OXO notices that the US population is aging. This represents an example of a change in the company's _________. A. Macroenvironment B. Value proposition C. Microenvironment D. Customer Loyalty

A

6. What type of macroenvironmental force does the aging population represent? A. Demographic B. Economic C. Natural D. Technological E. Political F. Cultural

A

8) ________ is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior. A) Market segmentation B) Mass marketing C) Market targeting D) Positioning E) Differentiation

A

9) Harry's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of affluent, middle- aged men, and the other line targets younger, up- and- coming professionals. Harry's most likely segments the consumer market based on ________ variables. A) demographic B) universal C) behavioral D) geographic E) psychographic

A

9. OXO offers additional design benefits and charges higher prices than its competition. This represents which value proposition? A. More for more B. Same for more C. More for same D. Less for more

A

A ________ is purposeful, specifying what an organization wants to accomplish in the larger environment. A) mission statement B) market portfolio C) marketing objective D) marketing strategy E) strategic plan

A

A customer's personal motives can have what type of influence on business buying behavior? A. Individual B. Organizational C. Environmental D. Interpersonal

A

According to the five- step model of the marketing process, the first step in marketing is ________. A) understanding the marketplace and customer needs and wants B) engaging customers, building profitable relationships, and creating customer delight C) designing a customer- driven marketing strategy D) constructing an integrated marketing program that delivers superior value E) capturing value from customers to create profits and customer equity

A

Bic believes that saving handwriting will serve short-term customer needs and their long-term welfare. This represents which marketing management orientation? A. Societal Marketing Orientation B. Customer Relationship Orientation C. Sustainable Orientation D. Product Orientation

A

Customer Satisfaction relates to how well a market offering meets or surpasses ____________. A. customer expectations B. customer needs and wants C. marketing management orientations D. Marketing myopia

A

I splurged on an expensive vacation in Hawaii 7 years ago but haven't traveled much since. The resort likely now views me as a _______. A. Butterfly B. Stranger C. True Friend D. Barnacle

A

I tend to upgrade my phone to the newest model only after a majority of people have already adopted it. This makes me a/n ___________. A. Late mainstream adopter B. Early adopter C. Lagging adopter D. Early mainstream adopter

A

If Coca-Cola wanted to study the impact of changing the taste of Coke on purchase preference, they could have undergone _____ research. A. Causal B. Usability C. Exploratory D. Descriptive

A

In terms of order revenue, business transactions are typically _____ vs. consumer transactions. A. Larger B. Smaller C. The same

A

OXO's mission is "to create innovative consumer products that make everyday living easier." Is this a market-oriented mission statement? A. Yes B. No

A

The two dimensions the BCG approach uses to evaluate and manage SBUs are ________. A) market growth rate and relative market share B) relative market share and market penetration C) relative market share and product development D) market growth rate and market development E) market growth rate and market penetration

A

This whitepaper is an example of which type of marketing information? A. Marketing Intelligence B. Big Data C. Market Research D. Internal Data

A

What is the name of the industry program (and icon) that shows when a digital ad has been targeted using prior web browsing behavior? A. Ad Choices B. Ad Blocker C. Opt-Out D. Retargeting

A

Which of the following is true of an undifferentiated (mass) market strategy? A. It is less expensive than a differentiated strategy B. It is more expensive than micromarketing C. It is more relevant than micromarketing D. It is more relevant than a differentiated strategy

A

Which of the following statements about business buyers are true? A. As a whole, they spend more money than consumer buyers. B. They are more geographically dispersed than consumer buyers. C. They outnumber consumer buyers. D. Their demand is unrelated to consumer demand.

A

________ markets consist of individuals and households that buy goods and services for personal use. A) Consumer B) Business C) Retailer D) Government E) Wholesaler

A

11) Companies today are moving away from target marketing and toward mass marketing. T) True F) False

False

__________ are internal limitations that may interfere with a company's ability to achieve its objectives. A. Strengths B. Weaknesses C. Opportunities D. Objections E. Threats

B

"Competition" can have what type of influence on business buying behavior? A. Individual B. Organizational C. Environmental D. Interpersonal

C

3. OXO's toilet brushes are the top-selling toilet brushes for the past 15 years, and the market is not growing. Using the BCG Growth Matrix for SBU analysis, OXO's toilet brushes are a: A. Star B. Question Mark C. Cash Cow D. Dog

C

4) A practice called ________ allows marketers to use online data to target ads and offers to specific customers. A) data analytics B) online targeting C) behavioral targeting D) online listening E) social media tracking

C

4. After the success of their toilet brush, OXO decides to make bathroom soap dispensers. Using the Product/Market Expansion Grid, OXO's strategy is: A. Market penetration B. Market development C. Product development D. Diversification

C

7) According to Maslow's hierarchy of needs, which of the following is most likely an esteem need? A) hunger B) security C) status D) self- development E) love

C

7. Because the US population is aging, more consumers have mild arthritis issues. Using a SWOT analysis framework, what does this represent for OXO? A. Strength B. Weakness C. Opportunity D. Threat

C

A potential downside to using a mobile app for ethnographic research is that _____. A. it is less accurate than in- person ethnographic research B. this goes against regular customer behavior C. customers may forget to use it. D. it is time consuming

C

A web usability study is an example of which type of marketing information? A. Marketing Intelligence B. Big Data C. Market Research D. Internal Data

C

According to the article you read, which of the following is a good strategy for marketing during a recession? A. Cut marketing research and advertising budget to save money B. Use zany humor in your ads to make people forget about their financial troubles C. Focus on family values D. Launch new, specialized products

C

Actors close to the company that affect the organization's ability to serve its customers are part of the company's ______________. A. Competitors B. Market offerings C. Microenvironment D. Macroenvironment

C

For a soft drink company, dividing the market up based on preferred sport is an example of which segmentation variable? A. Geographic B. Demographic C. Psychographic D. Behavioral

C

In 1985, Coca-Cola should have first undergone ______ research to gather preliminary info and create a hypothesis as to why people were drinking less cola. A. Causal B. Usability C. Exploratory D. Descriptive

C

In perceptual positioning maps, what does the size of each circle represent? A. Company size B. Profits C. Market share D. Price

C

Market Segments which are ____ are large enough to build a marketing plan around. A. Measurable B. Accessible C. Substantial D. Actionable

C

Marketing is the process by which companies create _____________ for customers and capture __________ in return. A. products; revenue B. services; costs C. value; value D. problems; complaints

C

McDonald's is criticized for targeting its marketing to kids, particularly ______________. A. toddlers B. children living in rural areas C. children of color D. in international markets

C

The best, but least sustainable, winning value proposition is _______. A. More for more B. More for the same C. More for less D. The same for less E. Less for much less

C

There are 3 types of research: Causal, Descriptive, and _________. A. Focus Groups B. Secondary C. Exploratory D. Observational

C

When customer expectations exceed their actual experiences, the result is _______________. A. satisfaction B. marketing myopia C. dissatisfaction D. market offerings

C

Which type of targeting focuses on going after a large share of one (or a few) target segments? A. Undifferentiated marketing B. Differentiated marketing C. Niche marketing D. Micromarketing

C

All of the following are benefits of business e-procurement, EXCEPT _____? A. Ability to purchase 24 hours/day B. Ability to purchase faster C. Access to rich product information D. Improved relationships between buyers and sellers

D

Burger King's "Have it Your Way" slogan represents which marketing management orientation? A. Production concept B. Product concept C. Selling concept D. Marketing concept

D

In terms of the number of customers in the market, there are _____ Business buyers vs. Consumer buyers. A. Fewer B. Greater C. The same

AC

10) ________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. A) Mass marketing B) Positioning C) Market targeting D) Differentiation E) Market segmentation

B

12. OXO appoints a "Chief Listening Officer" charged with monitoring online customer conversations about kitchen gadgets and company competitors. This is what type of Marketing Information? A. Internal data B. Marketing intelligence C. Marketing research D. Online focus groups

B

14. If my mother uses an OXO potato peeler and encourages me to buy one, my consumer behavior is being influence by what? A. Cultural factors B. Social factors C. Personal factors D. Psychological factors

B

17. OXO markets its potato peeler to restaurant chains. Together, what do the restaurants' chef, prep cooks, general managers, finance officers, and buying managers represent? A. Consumers B. Buying Center C. Sample Sizes D. Ethnographic Researchers

B

5) Which of the following is a social factor that influences consumer buying behavior? A) personality B) family C) life- cycle stage D) occupation E) economic situation

B

8. Despite having been originally developed for them, consumers with hand dexterity issues want a potato peeler that helps them forget about their limitations. A product's distinctive and desirable place vs. competitors in the minds of target customers is called its _____. A. mission statement B. positioning C. targeting D. segmentation

B

AT&T's "the best 4G network" represents which marketing management orientation? A. Production concept B. Product concept C. Selling concept D. Marketing concept

B

Aeropostale launches a campaign targeting preteens ages 11-12. What generation does the store hope to reach? A. Millenials B. Generation Z C. Generation Y D. Generation X

B

BIC's annual report says that it exists to "offer simple, inventive, and reliable solutions to everyday needs." A customer-focused, purposeful, aspirational declaration like this is also called a/an ____________. A. Long-term objective B. Mission statement C. Marketing plan D. Values statement

B

Buyer discomfort caused by post- purchase conflict is known as ______________ A. customer satisfaction B. cognitive dissonance C. the customer journey D. the sales funnel

B

Companies should invest in retaining all customers who purchase from them. A. True B. False

B

Dividing the market up based on customers' gender is an example of which segmentation variable? A. Geographic B. Demographic C. Psychographic D. Behavioral

B

In terms of time, the business decision process is typically _____ vs. the consumer decision process. A. Shorter B. Longer C. The Same

B

In the Growth Share Matrix (aka BCG Matrix), SBUs that represent new innovations/ new product launches typically start in which quadrant? A. Star B. Question mark C. Dog D. Cash cow

B

JetBlue's promise to put "You Above All" by "bringing humanity back to travel" is their ________. A) selling concept B) value proposition C) market offering D) production concept E) segmentation strategy

B

Many companies are using _____ to gain more speed, scale, and efficiency from its ethnographic research efforts. A. in-house research teams B. mobile apps C. customer surveys D. online focus groups

B

Some customers have continued to purchase Bic pens for many years, and prefer more expensive designs and colors. To which customer relationship group do these customers likely belong? A. Strangers B. True Friends C. Barnacles D. Butterflies

B

The BCG Growth Matrix should be adapted to help companies survive in unpredictable markets. This involves all of the following steps EXCEPT: A. Accelerating the pace of innovation B. Less experimentation C. Increasing the number of "Question Marks" D. Selecting investments and divestments in a disciplined way

B

The sales funnel is an outdated model because _______. A. shoppers use search engines to research purchases B. shoppers expand and contract their set of choices throughout the process C. consumers shop online D. triggers are more impulsive

B

This headline reflects which macroenvironmental force? Retailers should focus on aging baby boomers, not millennials, as profit centers A. Cultural B. Demographic C. Technological D. Economic E. Natural

B

When deciding among possible value propositions, marketers consider their price and unique benefits relative to their ____________. A. suppliers B. competitors C. macroenvironment D. Mission statements

B

Which type of targeting focuses on going after several market segments, with a separate offering for each? A. Undifferentiated marketing B. Differentiated marketing C. Niche marketing D. Micromarketing

B

1. OXO focuses on making products that respond to their customers' needs and wants. What type of marketing management orientation does OXO have? A. Production Concept B. Product Concept C. Selling Concept D. Marketing Concept E. Societal Marketing Concept

D

10. OXO's Universal Design approach focuses on what various segments have in common, rather than the unique needs of each segment. What market targeting strategy is this? A. Niche marketing B. Differentiated marketing C. Micromarketing D. Undifferentiated marketing

D

11. OXO's television commercials show large, extended families bonding around their kitchen gadgets as they prepare Thanksgiving dinner together. Using Maslow's framework, which basic human need does this approach appeal to? A. Safety needs B. Physiological needs C. Esteem needs D. Social needs

D

13. Before getting into the toddler category, OXO gathered preliminary data to help define the main problem facing parents during feeding time. This represents what type of research? A. Internal data B. Causal C. Descriptive D. Exploratory

D

6) ________ refers to the unique psychological characteristics that distinguish a person or group. A) Status B) Lifestyle C) Role D) Personality E) Attitude

D

A call center report is an example of which type of marketing information? A. Marketing Intelligence B. Big Data C. Market Research D. Internal Data

D

A customer's influence in the company can have what type of influence on business buying behavior? A. Individual B. Organizational C. Environmental D. Interpersonal

D

A growing number of college students have a laptop or tablet with them at all times. Using SWOT analysis, what does this represent for Bic? A. Strength B. Weakness C. Opportunity D. Threat

D

According to the BCG Growth Matrix, ________ are low-growth, low-share businesses and products. They may generate enough cash to maintain themselves but do not promise to be large sources of cash. A. Stars B. Question marks C. Cash cows D. Dogs

D

Consider the Cultural forces in our macroenvironment. Persistent beliefs and values which are passed on from parents to children, and reinforced by schools, businesses, and religious institutions are called _______ values. A. Demographic B. Environmental C. Secondary D. Core

D

Dividing the market up based on product usage level is an example of which segmentation variable? A. Geographic B. Demographic C. Psychographic D. Behavioral

D

In the US, Bic's writing products SBU has high market share, but the market is shrinking. Using Business Portfolio Analysis (aka BCG Growth/Share Matrix), how would you classify this SBU? A. Star B. Monkey C. Dog D. Cash Cow

D

Perceptual positioning maps are used to show a company the consumer perceptions of their brands vs. those of their _______. A. segments B. partners C. business customers D. competitors

D

Segmenting consumers based on the benefit they receive from your product is an example of ____ segmentation A. demographic B. geographic C. psychographic D. behavioral

D

Share of Customer helps companies measure __________. A. the potential size of the market over time B. their relative position in the overall market C. the portion of the overall market controlled by the company D. their percentage of spending from specific buyers in the market

D

This headline reflects which macroenvironmental force? Laid-off American Workers Are Having Better Luck Finding New Jobs A. Cultural B. Demographic C. Technological D. Economic E. Natural

D

Which of the following best describes a company's business portfolio? A) the target segments of the company's various businesses B) the list of all the marketing activities in which the company invests C) the company's strengths in terms of technology, people, and products D) the collection of businesses and products that make up the company E) the company's products or services in a particular market

D

_______ is the art and science of choosing target markets and building profitable relationships with them. A) Segmentation B) Positioning C) Differentiation D) Marketing management E) Value engineering

D

Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization. A) microenvironment B) supply chain C) internal environment D) marketing intermediary network E) macroenvironment

E

Dividing a market into several sections of customers is known as ________. A) mass customization B) market positioning C) undifferentiated marketing D) value engineering E) market segmentation

E

This headline reflects which macroenvironmental force? Drough Threatens NH Dairy Industry A. Cultural B. Demographic C. Technological D. Economic E. Natural

E

Which of the following is part of the microenvironment of a firm's marketing environment? A) the cultural forces that exist in a society B) the political state of the country in which the firm exists C) the technological resources available to the company D) the different demographic trends in the market E) the suppliers who work with the company

E