Marketing Cha 1-4

JJ Distributors Ltd. buys electronic products from manufacturers for wholesale and sells them to various retail outlets. To which of the following markets does JJ Distributors Ltd. directly cater?

reseller markets

Under Armour's recent expansion into the digital personal health and fitness tracking market through acquisitions of three fitness app companies is a ________ strategy.

diversification

Information collected from commercial online databases or through Internet search engines are examples of ________ data.

secondary

The ________ environment is perhaps the most dramatic force shaping the destiny of individuals and offering exciting opportunities for marketers.

technological

The migration trend towards micropolitan and suburban areas has caused a shift in where people work. This has resulted in a rapid increase in the number of people who ________.

telecommute

Large companies like P&G, Walmart, and Allstate have designed specialty products and promotions to target a previously untapped market that has grown substantially in recent years. They are appealing to ________.

the Asian American market

JetBlue's promise to put "You Above All" by "bringing humanity back to travel" is their ________.

value proposition

Which of the following is most likely a characteristic of Generation Xers?

They were the first group to grow up in the Internet era.

The 4Ps model has been challenged because it omits or underemphasizes important activities such as services. It's also been criticized for taking a seller's, rather than a buyer's, viewpoint. The more recent 4As framework complements the traditional model and includes ________.

acceptability, affordability, accessibility and awareness

What are the two main types of research instruments used to collect primary data?

questionnaires and mechanical devices

BlueBear is a shoe manufacturer based in the United States. Which of the following indicates that the company is following a market development strategy?

BlueBear introduces its shoes in the Indian and South-East Asian markets.

Which of the following is most likely true about business legislation?

Business laws that are enforced by government agencies have a major impact on a company's marketing performance.

A firm has a huge amount of individual customer data saved in different databases. Which of the following can be used to integrate, analyze, and apply the available information effectively?

CRM systems

Vincent Cosmetics decides to launch a cream with a claim that it makes skin "nine times smoother." The claim is based on a study of 30 respondents who used products of other brands as well. However, a second study on a larger sample reveals only a mild correlation between the use of the cream and smoother skin. In these circumstances, which of the following is the most ethical approach that Vincent Cosmetics can follow?

It should report the result as it is, or improve the product to match its claim.

Which of the following is an example of consumer-generated marketing?

Fun & Run, a local amusement park, promotes its services by allowing consumers to upload videos and write reviews about the park.

________ are small groups of consumers who interact directly and informally with product designers without a moderator.

Immersion groups

Mail surveys have many disadvantages so many marketers have switched to ________.

Internet-based surveys

Which of the following is true of competitive marketing intelligence?

It can be obtained from information that is available in the public domain.

________ is the art and science of choosing target markets and building profitable relationships with them.

Marketing management

Members of which generational group are referred to as echo boomers?

Millenial

Which of the following is most likely true about companies that take a proactive stance toward the marketing environment?

They design strategies according to environmental forces in the market.

Omni Healthcare's analgesic drug Cetaprin has a 40% share in the analgesics market in the country of Terrania. Its closest competitor, Febex, has a 25% share in the market, while four other analgesic brands split the remainder. Which statement indicates that Cetaprin is a cash cow according to the BCG matrix?

The demand for analgesic drugs in the Terrania market is expected to remain stable.

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.

Which of the following is an advantage of primary data?

They are more relevant than secondary data.

Business portfolio analysis is defined as the process in which management ________.

assesses the attractiveness of an SBU's market and the strength of its position in the market

Which of the following generational groups account for a third of the U.S. population but half of all consumer spending?

baby boomer

A practice called ________ allows marketers to use online data to target ads and offers to specific customers.

behavioral targeting

Mattel's American Girl Doll creates special ________ between the dolls and the girls who adore them.

brand experiences

Stew Leonard's has created what has been the "Disneyland of Dairy Stores," complete with costumed characters, scheduled entertainment, and a petting zoo. It's built 30 additions onto the original store, which now serves more than 300,000 customers each week. This legion of loyal shoppers is largely a result of the store's passionate approach to customer service. Instead of focusing on individual transactions, Stew and his staff are putting a priority on ________.

capturing customer lifetime value

P&G "Tide Loads of Hope" program provides mobile laundromats and loads of clean laundry to families in disaster-stricken areas. This is an example of ________ marketing.

cause-related

Kelstone Developers is planning to build a new shopping mall that would require the partial acquisition of a nearby public park. Walking Green, an environmental group, challenges the plan citing environmental destruction. In response to the demands of Walking Green, Kelstone Developers promises to build a huge park-like walkway around the mall. Walking Green is an example of a(n) ________ in this scenario.

citizen-action public

Hammond Corp. operates in the highly aggressive electronics market. The firm aims to obtain early warnings of opportunities and threats caused by the actions of other firms that are doing well in the industry. Which of the following sources would best serve Hammond's purpose?

competitive marketing intelligence

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

customer relationship management

Cylog, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by Cylog?

customer-driving marketing

Which of the following terms refers to a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers?

customer-perceived value

According to the text, ________ are the most important actors in a company's microenvironment.

customers

A company that sells personal care products sends a trained observer to watch potential buyers in their natural environments. This is an example of ________ research.

ethnographic

Burger Town introduced a new hamburger and released it in two different cities at two different prices. Marketers of Burger Town then analyzed the sales records of their outlets at the two cities, determined the price that resulted in better profits, and used the information to set a nationwide price for their new offering. This is an example of ________.

experimental research

The boom in online, mobile, and social media has created a new set of social and ethical issues for companies. Their greatest concern involves ________.

failing to reach their target customers through online marketing

Susan Hart, the manager of a children's boutique, collects data from her monthly records of sales, costs, and cash flow. In this case, Susan is making use of ________ databases.

internal

Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization.

macroenvironment

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

market growth rate and relative market share

EcoBean, a chain of cafes, has introduced a Special Shopper Card that allows customers to pay in advance for coffee and snacks. This effort by EcoBean management is most likely an example of ________.

market penetration

Ferrari sells only 2,200 of its very high-performance cars in North America each year at very high prices. The company is appealing to a specific ________.

market segment

The ________ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.

marketing

At John Deere, thousands of people both inside and outside the organization make decisions about target segments, branding, product development, pricing, promotion, and distribution. They talk with engineering about product design, advertising agencies about ad campaigns, and large retailers like Lowe's about quality offerings. This is an example of ________.

marketing implementation

Nike's goal to increase sales of its running shoes by 25 percent during the first 6 months of the new fiscal year is an example of a ________.

marketing objective

A marketing intermediary would most likely help a firm by ________.

moving the firm's goods from production points to distribution centers

Which of the following would most likely use informal research methods to obtain marketing insights?

not-for-profit organizations

Annie Carson, the owner of Annie's Dairy Bar, is considering opening a second location. She evaluates several potential sites by assessing traffic patterns, neighborhood conditions, and the locations of competitors. Annie is engaging in ________.

observational research

The ultimate aim of customer relationship management is to ________.

produce high customer equity

The ________ concept holds that consumers will favor goods and services that offer the most in quality, performance, and innovative features.

product

Ford Motor Company issuing a recall that requires customers to schedule appointments with car dealerships to repair faulty igniters would have the greatest impact on the ________ component of its marketing mix.

product mix

P&G's decision to eliminate dozens of major brands from its portfolio including Crisco, Folgers, and Jif to focus on household care, beauty, and grooming products is an example of ________.

pruning

Traxx is a newly emerging shoe manufacturing company. After extensive market research, Traxx divides its market into professional athletes, "hobbyists" or amateur players, and people who wear shoes as part of their casual attire. Each category has its own needs, traits, and marketing goals. In this scenario, Traxx has engaged in market ________.

segmentation

Various government agencies have launched campaigns to encourage energy conservation and concern for the environment as well as discourage smoking, illegal drug use, and obesity. This illustrates ________ marketing.

social

CVS Pharmacy changed its name to CVS Health, reshaping and broadening its lines of products and services to align more appropriately with its revamped "better health" mission. For example, it stopped selling tobacco products altogether. How would this be classified in a SWOT analysis?

strength

Dollar General profitably appeals to families with more modest means. The retailer's approach is most likely referred to as ________.

target marketing

Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy. The CEO stresses that the new mission statement should be market-oriented rather than product-oriented. Which of the following mission statements will best suit the company?

to give customers the complexion they dream about by providing products suited to their needs

The Amazon Prime program strives to convert casual shoppers into loyal customers. An Amazon Prime customer can be classified as a ________.

true believer