MARKETING FINAL OLD EXAM 1

The International Company needs information about trends in housing starts and remodeling around the country. Since it will be difficult to collect _______ from the numerous locations, it decides to use _____ data from the U.S. Department of Commerce reports to get this information. a. primary; secondary b. primary; exploratory c. exploratory; secondary d. descriptive; secondary e. descriptive; primary

a. primary; secondary

Marketing is the process of a. ​creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment. b. ​promoting products through personal selling and advertising to develop and maintain favorable relationships with customers and stakeholders. c. ​creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the achievement of the firm's objectives. d. ​focusing on customers' needs. e. ​delivering a standard of living to a society.

a. ​creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment.

PepsiCo has recognized the significant increase in population diversity within the U.S. soft-drink market. Which one of the following best illustrates the company's integration of this knowledge into its marketing strategy? a. Ads in The New Yorker and Reader's Digest b. Ads featuring Hispanic actors and Tejano music c. Bonus coupons in Pepsi twelve-packs d. Ads aimed at children e. Ads featuring nostalgic Americana

b. Ads featuring Hispanic actors and Tejano music

You work in the marketing department of shoe firm Weasley Inc. Over the past month you have been working with management to revise the company's mission statement and set specific marketing goals for the upcoming year. Today you are meeting with your marketing team and discussing the next step in the strategic planning process. What is this next step? a. Determining performance standards to analyze the successful implementation of goals b. Formulating corporate and business-unit strategies c. Evaluating the performance of the marketing strategy d. Writing up a marketing plan e. Analyzing the organization's strengths and weaknesses and identifying its threats and opportunities

b. Formulating corporate and business-unit strategies

Verizon implements a program of texting its current customers to find out what changes they would like to see in the services provided. The firm is exhibiting characteristics associated with which of the following orientations? a. Production b. Market c. Social d. Development e. Sales

b. Market

Sterling is a corn farmer. He sells his corn to stores such as Kroger. What type of competitive structure does Jerry most likely operate in? a. Oligopoly b. Pure competition c. Oligopolistic competition d. Monopoly e. Monopolistic competition

b. Pure competition

Which of the following regulatory groups is a system of nongovernmental, independent, local regulatory agencies supported by local businesses? a. The National Advertising Division b. The Better Business Bureau c. The Chamber of Commerce d. The National Advertising Review Board e. American Marketing Association

b. The Better Business Bureau

An informed guess or assumption about a certain problem or set of circumstances is known as a. a description of the situation. b. a hypothesis. c. good research design. d. managerial intuition. e. a reliable guess.

b. a hypothesis.

The amount of money received through wages, rents, investments, pensions, and subsidies is called a. discretionary income. b. income. c. credit. d. prosperity. e. wealth.

b. income.

____ are formalized rules and standards that describe what a company expects of its employees in terms of ethical behavior. a. Behavior contracts b. Ethics contracts c. Codes of conduct d. Job descriptions e. Ethics clauses

c. Codes of conduct

Which of the following survey methods has the potential to offer quick response at a lower cost than traditional mail and telephone surveys? a. Total population surveys b. Focus-group interviews c. Online surveys d. Personal interview surveys e. In-home (door-to-door) interviews

c. Online surveys

Julia was reviewing her bank statement for last month. She had paid her rent, her car payment, electric and phone bills, and made three trips to the grocery. Julia had also bought tickets to an Ariana Grande concert and new clothes to wear to the concert. The money spent on Julia's rent, car, electric, and phone bills was likely from her ____ , while the money spent on the concert tickets and new clothes was from her _____. a. gross income; savings income b. disposable income; savings c. disposable income; discretionary income d. gross income; disposable income e. disposable income; net income

c. disposable income; discretionary income

Collecting information from secondary sources such as business, government, trade, and general-interest publications plays an important role in a. competitive forces. b. self-regulatory forces. c. environmental scanning. d. procompetitive legislation. e. environmental analysis.

c. environmental scanning

If Papa John's wants to determine the impact of different coupon offers on pizza unit sales, it needs to conduct a. survey research. b. hypothesis development. c. experimental research. d. exploratory research. e. stratified sampling.

c. experimental research.

Marketing planning and ______ are closely linked in successful companies. a. market share b. production c. implementation d. communication e. human resources

c. implementation

The objective of sampling in marketing research is to a. ensure that measures in the study are reliable. b. provide data that can be used to test the hypotheses being investigated. c. select representative units from a total population. d. obtain responses from as many people as possible. e. control independent variables that might influence research results.

c. select representative units from a total population.

A company's customers, employees, shareholders, suppliers, governments, communities, and competitors comprise its a. stockholders. b. marketing mix. c. stakeholders. d. public. e. target market.

c. stakeholders.

Marketing activities are a. ​limited to use by larger for-profit and nonprofit organizations. b. ​implemented only to increase profits for the organization and to expand the scope of its customer base. c. ​used by all sizes of organizations including for-profit, nonprofit, and government agencies. d. ​used by small businesses and small nonprofit organizations the most. e. ​used by all types and sizes of businesses but are not used by nonprofit organizations.

c. ​used by all sizes of organizations including for-profit, nonprofit, and government agencies.

If all the gas stations in a city collaborated to determine what gas prices should be charged, they would be violating the a. Celler-Kefauver Act. b. Wheeler-Lea Act. c. Clayton Act. d. Sherman Antitrust Act. e. Robinson-Patman Act.

d. Sherman Antitrust Act.

King Mechanic is a very profitable automobile repair shop. The company is well known for its great service and involvement in the community, but it fails to properly dispose of its used oil as outlined in environmental regulations. King Mechanic is failing in its ____ responsibilities. a. economic b. ethical c. strategic d. legal e. philanthropic

d. legal

LARC Salon is part of the hair and personal care service industry. In what type of competitive environment is LARC Salon most likely operating? a. an oligopoly. b. pure competition. c. a monopoly. d. monopolistic competition. e. oligopolistic competition.

d. monopolistic competition.

Which of the following is a strategy of increasing sales of current products in new markets? a. Diversification b. Market development c. Market share d. Product development e. Market penetration

e. Market penetration

When more information is needed about a problem and a tentative hypothesis needs to be made more specific, marketers usually conduct ____ research. a. exploratory b. analytical statistical c. descriptive d. experimental e. conclusive

a. exploratory

Laurel Dudley and seven other people were paid to get together and discuss a new product idea proposed by Johnson & Johnson. Researchers observed the interaction of the group. During the discussion, Laurel was annoyed that Seth, another participant, seemed to "hog" the discussion and didn't give others a chance to speak. This is an example of a problem when using a. focus-group interviews. b. group surveys. c. personal interview surveys. d. sampling teams. e. group think.

a. focus-group interviews.

Pepsi executives realized that more consumers are concerned with health. It has since expanded into the bottled water and bottled juice markets. This is an example of a firm identifying and capitalizing on a a. market opportunity b. marketing strategy c. core competency d. competitive advantage e. strength

a. market opportunity

A marketing manager for a small laptop manufacturer is analyzing the potential effects of political, legal, sociocultural, and economic forces on the firm's operations. The marketing manager is examining the ____ that influence(s) the firm's strategy. a. marketing environment b. surroundings c. economic conditions d. operating situation e. trends

a. marketing environment

A valid study a. measures what it is supposed to. b. results in a causal relationship between the independent and dependent variables. c. verifies expected results. d. portrays the population being studied. e. uses random sampling.

a. measures what it is supposed to.

SUP ATX is the largest stand-up paddle board maker based in Austin, Texas, that markets their products directly to consumers via their website. SUP ATX mission is to spread the sport of stand up paddle surfing from oceans to lakes and rivers around the world. Stand up paddle surfing or boarding is a relatively new sport but is growing due to the relatively low price of the boards, ease in transportation and storage of the boards as well as the sport providing a fun way to exercise and allow users to enjoy the outdoors. Which of the following would be the "best" target market for SUP ATX paddle board products? a. ​active adults aged 24 to 40 who enjoy outdoor recreational activities b. ​high school students aged 15 to 18 who are looking for alternatives to traditional sports activities c. ​professional surfers who compete in surfing competitions across the globe d. ​sporting goods retailers such as Dicks Sports who are seeking new products to sell in their retail stores

a. ​active adults aged 24 to 40 who enjoy outdoor recreational activities

A marketing plan a. ​provides a framework for implementing and controlling marketing activities. b. ​produces plans that are short term in orientation. c. ​restricts the marketing manager's future options. d. ​is characteristic of production-oriented firms and other mass producers. e. ​always increases the marketing manager's operating costs.

a. ​provides a framework for implementing and controlling marketing activities.

Based on the work by the Boston Consulting Group, products with a dominant share of the market and good prospects for growth are a. ​stars. b. ​pigs. c. ​question marks. d. ​cash cows. e. ​dogs.

a. ​stars.

Within a business organization, a profit center that is self-supporting in terms of sales, markets, production, and other resources is known as a​ a. ​strategic business unit. b. ​small business. c. ​diversified corporation. d. ​profit entity. e. ​marketing program.

a. ​strategic business unit.

Kashi Heart to Heart cereal is aimed at people concerned about their heart health. These people represent the Kashi a. ​target market. b. marketing mix. c. ​consumer advocates. d. ​marketing strategy. e. ​marketing tactic.

a. ​target market.

Designing research procedures that produce reliable marketing data means that a. sampling must be done in a completely random manner. b. others using the same procedure will get almost identical data. c. the procedure must not give results that contradict other research studies. d. the procedure must give results that support the hypothesis. e. the procedure may give results that contradict other research studies.

b. others using the same procedure will get almost identical data.

McDonald's supports and funds Ronald McDonald houses for the families of terminally ill children to stay in to be near their loved ones. McDonald's action demonstrates the fulfillment of ____ responsibility. a. economic b. philanthropic c. societal d. ethical e. legal

b. philanthropic

For the Christmas season, a major toy retailer decided to donate to Angel Tree, an organization that provides gifts to the families of those who are incarcerated. The retailer claimed that it would donate 10% of the proceeds of all toys sold in the month of December to the Angel Tree organization. This is an example of a. strategic philanthropy. b. consumerism. c. economic responsibility. d. cause-related marketing. e. ethical responsibility.

d. cause-related marketing.

The two basic types of sampling that marketing researchers use are a. random and nonrandom. b. stratified and quota. c. even and odd. d. probability and nonprobability. e. planned and spontaneous.

d. probability and nonprobability.

Honeybees are disappearing at an alarming rate, and since they pollinate about a third of all the foods we eat, it is an important concern. That's why Ben & Jerry's launched a microsite to increase the awareness of the issue. In addition, it launched a "Twitcause" campaign on Twitter, raising $7,000 in two days. This example illustrates the positive consequences of a. economic responsibility. b. ethical responsibility. c. corporate benevolence. d. social responsibility. e. green marketing.

d. social responsibility.

People for the Ethical Treatment of Animals (PETA) has demonstrated against the sale of coats made of animal furs. PETA's efforts to change shoppers' attitudes represent a ____ force for fur retailers. a. technological b. political c. self-regulatory d. sociocultural e. controllable

d. sociocultural

Consumerism is a. marketers' efforts to contribute to the satisfaction and growth of the communities in which they operate. b. President John F. Kennedy's consumer bill of rights. c. the specific development, pricing, promotion, and distribution of products that do not harm the environment. d. the efforts of independent individuals, groups, and organizations to protect the rights of consumers. e. the right to be informed.

d. the efforts of independent individuals, groups, and organizations to protect the rights of consumers.

Long-term relationships with profitable customers is the key objective of a. distribution channels. b. ​production oriented firms. c. ​e-marketing. d. ​customer relationship management. e. ​personal selling.

d. ​customer relationship management.

The Church of the Latter Day Saints has used advertising for many years, airing a commercial TV spot that shows parents actively playing games with their children. The Church is using marketing to promote its a. ​production. b. ​experiences. c. ​goods. d. ​ideas. e. ​services.

d. ​ideas.

The percentage of a market which actually buys a specific product from a specific company is referred to as that product's a. ​market position b. ​target market c. ​strategic segment d. ​market share e. ​market cut

d. ​market share

Distribution, price, promotion, and product are all elements of a. ​a business strategy. b. ​a target market. c. ​marketing strategy. d. ​the marketing mix. e. ​a consumer good.

d. ​the marketing mix.

Panera wants to collect data about employee satisfaction within its organization. It decides to survey a sample of 500 employees by having a computer program automatically pick which employees will be in the sample. If it uses the payroll database as the list of names to choose from, which type of sampling method is Panera using? a. Sampling populations b. Nonprobability sampling c. Stratified sampling d. Quota sampling e. Random sampling

e. Random sampling

Soft drink sales are declining as more consumers are concerned about their health. This represents a change in the __________. As a result, soft drink companies have begun releasing smaller sized soft drinks and soft drinks with less sugar. a. marketing task b. marketing mx c. marketing concept d. product concept e. marketing environment

e. marketing environment

The ____________ section of the marketing plan states what the company wants to accomplish through marketing activities, using a(n) ___________ of where the firm stands in the market. a. environmental analysis; SWOT analysis b. SWOT analysis; marketing concept c. marketing objectives; performance evaluation d. marketing strategies; implementation timetable e. marketing objectives; SWOT analysis

e. marketing objectives; SWOT analysis

If Procter & Gamble, the maker of Dawn dishwashing liquid, wants to know what percentage of customers examine product labels before making a product selection in the grocery store, it can best gain this information through a. focus groups. b. mail surveys. c. personal interviews. d. mall intercepts. e. observation.

e. observation.

Pointing out any deficiencies and the possible reasons for them should be done in the ____ step of the marketing research process. a. designing the research project b. interpreting research findings c. collecting data d. defining the issue or problem e. reporting research findings

e. reporting research findings

Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship? a. ​A good bargain on the product for the buyer b. ​One party having to compromise in the exchange c. ​Profits for the seller d. ​Reducing the seller's inventory e. ​Satisfaction for both the buyer and seller

e. ​Satisfaction for both the buyer and seller

The marketing concept focuses on a. ​creating maximum visibility for the firm. b. ​achieving the goals of top executives. c. ​maximizing sales in a way that helps to achieve organizational objectives. d. ​maximizing market share in a way that helps to achieve organizational objectives. e. ​satisfying customers' needs in a way that helps to achieve organizational objectives.

e. ​satisfying customers' needs in a way that helps to achieve organizational objectives.