Marketing

A firm's marketers must write a marketing plan before formulating an overall marketing strategy.

False

The need for a business plan is more acutely felt in a small company than in a large multinational company.

False

When marketers apply quantity control standards, they are:

buyer-seller communication through the Internet and virtual reality kiosks.

Not-for-profit organizations use social media to:

connect with the general public, the business community, and each other.

When the B2B market is segmented on the basis of product specifications issued by buyers, it is known as _____ segmentation.

customer-based

The _____ is a trade bloc that establishes a free-trade area and a uniform tariff for trade with nonmember nations.

customs union

Decisions involving transportation, warehousing, inventory control, and order processing relate to the _____ strategy component.

distribution

SunDay Holidays paid a fee to Google to display a link of their website when a user enters a keyword related to holidays or vacations. The link gets displayed on the right side of the search results page. This link is an example of:

A sponsored linked

Bullseye, Inc., an online marketing company that designs marketing campaigns for firms, is developing a social media marketing plan for a consumer goods company. The development team has created the entire plan and is now trying to compile the salient features of the plan that cites the reasons for adopting it. The development team is writing the _____ of the marketing plan.

A thorough understanding of the target audience

Which of the following can be categorized as a social media tool?

An app

Which of the following scenarios best illustrates reinforcement in purchasing decisions?

An appliance distributor replaces a dishwasher free of charge and provides excellent after-sales service.

Which of the following is a combination of person, cause, and organization marketing?

Angelina Jolie's role as a UN Goodwill Ambassador for refugees

Which of the following is most likely to be a logical starting point in identifying the marketing problem?

Evaluating the firm's target market and marketing mix elements

_____are those born between 1946 and 1964 and are a popular segment to target because of their numbers and income levels.

Baby Boomers

Which of the following best represents a mission statement?

Bass Pro Shop: To be the leading merchant of outdoor recreational products, inspiring people to love, enjoy, and conserve the great outdoors

_____ are goods and services purchased for use either directly or indirectly in the production of other goods and services for resale.

Business Products

_____ e-marketing is the use of Internet for business transactions between organizations.

Business-to-business

_____ are determined by occupation, income, education, family background, and residence location.

Class rankings

Whether conducted online or through the mail, what is the most important aspect of a marketing research survey?

Designing one that yields information marketers can use to make decisions.

Institutions constitute another important market. Institutional buyers include a wide variety of organizations, such as schools, hospitals, libraries, foundations, clinics, churches, and not-for-profit agencies. A small software company develops computer programs for different business institutions. Which of the following challenges can this company anticipate?​

Different institutions have varying buying practices.

Which of the following best describes the function of social media tools?

Enable users to communicate with each other online

The process of encoding data for security purposes is called _____.

Encryption

Little Princess, a California based company, is a creator of dolls and other toys for girls. The company is mainly involved in designing new toys and developing their prototypes. It has signed an agreement with some local toy manufacturers in Europe and North America to manufacture and distribute their toys in the local markets. These contracts are for a specified time period and permit the foreign marketer to distribute goods in a specified geographic area. Which of the following strategies is being used by Little Princess to enter foreign markets?

Foreign licensing

Despite over a hundred million viewers every year watching the Super Bowl, the NFL worries it is nearing market saturation in the U.S. So the NFL is scheduling regular-season games at London's storied Wembley Stadium. According to the information given in this case, which of the following marketing strategies is being used by the NFL?

Global marketing strategy

Which of the following is one of the four major categories that define the business market?

Governmental Organizations

Which of the following changes is seen as a result of a rise in households with only one person?

Increase in single-serve food products

Which of the following international market entry strategies is most likely to offer a competitive advantage to the firms and is characterized by high levels of involvement and high risk potential?

International direct investment

Which of the following statements is true regarding online surveys?

It allows participants to respond at their leisure.

What has been the impact of big data on gathering information?

It has blurred how data is classified as secondary or primary

Which of the following is true regarding leasing needed products from other organizations?

It provides flexibility for a growing business allowing it to easily upgrade when needed.

Which of the following statements regarding the marketing era is true?

Marketing and selling would no longer be considered synonymous terms.

Majority of the Hispanic population in the United States originate from _____.

Mexico

Which of the following locations would be ideal for a U.S. firm hoping to nearshore its operations?

Mexico

_____ is an imbalance between a consumer's actual and desired states.

Need

Which of the following statements is correct regarding not-for-profit organizations?

Not-for-profit organizations hope to generate as much revenue as possible to support their causes.

Which of the following statements is indicative of a second mover strategy?

Observing closely the innovations of first movers and then improving on them

Which of the following is the final step in the business buying process?

Obtaining feedback and evaluating performance

Melissa is campaigning for Janet, her friend, who is contesting for the presidency of the student council at Riverdale Junior College. Melissa's effort is an example of _____ marketing.

Person

Sandra is surfing the Web. After entering a popular site for attorneys, a separate window suddenly appears on the screen promoting a new line of legal software. This is an example of a _____ ad.

Pop-up

Which of the following is one of the industry categories created by the Standard Industrial Classification system?

Public Administration

_____ is a technology that secures a website by encrypting information and providing authentication.

SSL

Developing a relevant user profile is the first step in the market segmentation process. How are segment profiles used to identify the typical customer in each segment?​

Segment profiles are used to describe similarities among members of a market segment, and to explain differences among members in separate market segments.

The mission statement puts into words an organization's overall purpose and reason for being.

True

The overview of a social media marketing plan:

briefly describes the overall market conditions, and the firm's current position in the social media.

Which of the following industries makes the largest contribution to the United State's gross domestic product?

Service industry

The U.S. database that combines features such as railroads, highways, and rivers with census data such as household income is called:

TIGER (Topographically Integrated Geographic Encoding and Referencing).

Assume you want to increase the number of customers by applying the marketing concept. Which of the following strategies would be most consistent with this approach?

Target markets

Which of the following agreements has created opportunities for U.S. financial, legal, and accounting firms by including services under international trading rules and has phased-out import quotas on textiles and clothing from developing nations?

The General Agreement on Tariffs and Trade

Business strategies are impacted by the widespread use of the Internet. Which of the following is true with respect to its impact?

The Internet has reduced barriers to market entry.

To remain competitive, marketers must accurately gauge their customers and adapt to changing consumer sentiment. Sometimes this adaptation calls for repositioning a product or service. Why might a product or service be repositioned?​

The company is aiming for a greater share of the current market.

Which of the following components of a business plan describes strategies for informing potential customers about the goods and services offered by the firm as well as strategies for developing long-term relationships?

The marketing plan

The most important goal of a marketing website is to

The most important goal of a marketing website is to:

In the practice of relationship marketing, the definition of a customer is taken to another level. Which of the following best illustrates how a company practicing relationship marketing is different from a traditional transaction-based marketer?

The purchasing department of a defense contractor invites its suppliers to attend an annual golf outing.

Marketers can rely on a full arsenal of tools and techniques to facilitate the development of effective marketing plans. With respect to these tools and techniques, which one of the following statements is true?​

The strategic window refers to periods of time where what a firm does well is a close fit to what the requirements are in a given market.

An article titled, "Jeff Bezos Says Amazon is Seriously Serious about Drone Deliveries", recently appeared in a widely circulated business publication. Which of the following statements is true about this statement and its relationship to the Eight Universal Marketing Functions?

This statement relates to the physical distribution function of transporting.

A firm's goals should be specific and measurable

True

A marketing plan is a detailed description of the resources and actions needed to achieve stated marketing objectives.

True

An exit strategy is a plan for a firm to leave the market.

True

Every marketing plan requires a budget, a time schedule for implementation, and a system for monitoring the plan's success or failure.

True

Which of the following organizations was established as an outcome of GATT?

WTO

Product strategy

Which of the following components of the marketing mix focuses on deciding the goods and services a firm should offer in order to meet the needs of its customers?

_____ make up the majority of online shoppers.​

Women

An advertisement that creates warm feelings of goodwill toward the advertiser and his products is altering the _____ component of attitude.

affective

A(n) _____ role is seen when the partners independently make equal numbers of decisions regarding household purchases.

autonomic

Because of a variety of cultural, geographic, regulatory, and social issues, international marketing can pose unique challenges to the marketer. Many of these challenges can be mitigated by an effective internationally oriented marketing research effort. International marketing research can help a company

avoid product formulation errors

Job seekers can use social media to improve their job prospects in the market by:

being proactive on LinkedIn and connecting with people who work for companies of interest.

technology company that makes computers for professional use is trying to segment its customers. The company asked some professional computer users to evaluate the importance of various computer attributes that influence their purchase decisions and then used this data to segment the consumers based on similar response patterns. This is an example of segmentation by:

benefits sought

Market segmentation plays a very important role in developing a marketing strategy. Select the best definition of market segmentation from the choices below.​

dividing the total available market into smaller, similar groups

Neuromarketing is defined as:

eliciting emotions to motivate people toward a purchase.

Businesses follow a defined buying decision process in order to ensure the goods and services they purchase will meet their organization's needs. The process has multiple stages; in one of the stages the business will consider a proposal usually given to them in writing by a supplier. This stage may include competitive bidding depending on the company. This proposal consideration takes place in which of the following stages of the business buying decision process

fifth stage

micropolitan statistical area is an area that

has at least one town of 10,000 to 49,999 people

Vietnam has restricted the amount of cement, fertilizer, and fuel that can enter its borders from outside countries to protect its domestic industries and also to protect workers from being laid-off. This form of trade restriction is an example of a(n) _____.

import quota

If the demand for a product stays almost constant throughout an industry regardless of the change in the price of the product, it can be said that the product is experiencing a(n) _____ demand.

inelastic

Fred Wilson, a journalist working for a popular news channel, has a vast knowledge of electronic gadgets. His reviews of these products are highly regarded and trusted by others. Wilson also runs a weekly show on the channel called "The Technocrat," where he analyzes the latest high-tech gadgets. Much like his reviews, Wilson's show enjoys a wide viewership, and is believed to have a considerable impact on the buying decisions of the audience. Fred Wilson can be regarded as a(n) _____.

influencer

Operational planning:

is used to determine departmental rules and procedures.

The _____ is the organizational program for selecting a target market and satisfying customers in that market through the marketing mix.

marketing strategy

The click-through rate is a measure of the:

percentage of people presented with a banner ad who click on it.

An e-business vendor who creates products, such as clothing or computers, to the exact specifications of individual customers is practicing

personalization.

Bristol-Myers Squibb, a large pharmaceutical company, has developed a campaign featuring Lance Armstrong promoting their development of cancer drugs. The campaign has a slogan, "Together We Can Prevail." This marketing strategy is being used by the company to satisfy ____ needs in the Maslow's hierarchy of needs.

physiological

The information collected for the first time specifically for a marketing research study is called _____ data.

primary

Starbucks marketing itself as "premium coffee" beverage retailer is an example of a positioning strategy based on

product class

The four basic determinants of a market-specific segmentation strategy include company resources, competitors' strategies, stage in the product lifecycle, and:

product homogeneity.

A company can modify a strategy when its actual performance is not in line with expected results by:

putting the marketing strategy into action and monitoring performance

is a master plan created by a marketer for conducting market research.

research design

A(n) _____ is software that enables users to communicate with each other online.

social media tool

Microsoft Windows generates considerable income for its parent company but is expensive to support. However, the expense is acceptable because Windows is the world's dominant operating system. Based on this information, Windows would be categorized under the BCG market share/market growth matrix as a:

star.

Alumna, a ceramics manufacturing company in Denmark, is trying to market its products in Bulgaria. The company has assigned the production of its goods to a local company in Bulgaria to take advantage of the low labor costs and also to avoid the import duties on the products. In this case, the strategy used by Alumna for entering foreign markets is an example of _____.

subcontracting

A newly married couple is looking to rent an apartment. This decision is most likely to be:

syncratic.

Relationship marketing relies heavily on:

technology to store customer data and to customize products/services.

Many of the eastern European currencies are considered as soft currencies because:

they cannot be readily converted into euros or dollars.

The total group of people that a researcher wants to study is called the:

universe

You overhear your parents having a conversation about the family's grocery list and which of them is going to do the shopping this coming weekend. Your mother typically does the grocery shopping and has a comprehensive process, which entails researching supermarkets that have the best sales, clipping coupons, and identifying which items she wants from the circulars that are mailed weekly to the house. She prefers to do the shopping herself but has to go out of town, leaving your dad with this responsibility. Your dad generally just buys whatever he thinks you and your siblings will like and prefers to be in and out of the grocery store. What can be said about your parents' purchase decision styles?​

​Involvement in purchase decisions may vary from one person to the next.

What has five dimensions, is dynamic and ever changing, and drives the marketer's decisions about target markets and the marketing mix?​

​The marketing environment

Using social media to communicate with customers and potential customers requires the marketer to follow some rules of social media etiquette. You clearly understand that when you use social media to reach your target audience you entering into a conversation with your customers. Since this has enormous implications for your firm's relationships with its customers, which of the following will you be certain to do?

​Think before posting or deleting social media content.

It's an informed guess or assumption about a problem or a specific event. It sets the stage for in-depth research and clarifies what the researcher needs to test."

​What is a hypothesis?

An organization's purchasing decisions can be influenced by such ______________ as a tornado destroying a factory that produces supplies necessary for the organization's operations.​

​environmental factors