Marketing Principles Exam 1
Fun-Spot Amusement Park represents a high-growth, high market share business. According to the BCG matrix, it can be classified as a ________.* Star Bear Question mark Cat Dog
Star
Shoez Inc., a manufacturer of shoes, has recently launched a brand of sturdy shoes ideal for hiking and other outdoor activities. Which of the following brand personalities could be best associated with the new brand?* sincerity sophistication competence excitement ruggedness
ruggedness
According to the BCG matrix, ______ are high-share, high-growth products. When the market growth slows, these products become ________.
stars; cash cows
Many companies use ethnically specific themes in their mainstream marketing strategy because marketers have realized that insights gleaned from ethnic consumers can influence their broader markets. This type of marketing is known as ________.* social networking word-of-mouth marketing total market strategy buzz marketing life-style marketing
total market strategy (cross-culture)
The first step to a successful value-driven marketing strategy is to determine whom to serve with a market offering. To make this decision, marketers engage in which two activities? Question content area bottom Part 1 A. Segmenting and targeting B. Targeting and positioning C. Customer management and demand management D. Segmenting and customer management E. Segmenting and demand management
A. Segmenting and targeting
What is customer equity? Question content area bottom Part 1 A. The total combined lifetime values of all the company's current and potential customers B. When a customer takes an active role in shaping product and brand content C. The share of a customer's purchases in the company's product categories D. Actions by which satisfied customers initiate favorable interactions with others about a brand E. The value of the entire stream of purchases a customer makes over a lifetime of patronage
A. The total combined lifetime values of all the company's current and potential customers
Which of the following statements regarding the changing marketing landscape is correct? Question content area bottom Part 1 A.Digital technology has changed the way we live. B.Due to COVID-19, the shift to the use of digital technologies in marketing has slowed. C. Global competition only affects marketing in large companies. D. Nonprofit organizations do not need to engage in marketing strategy. E. Government agencies have cut back on their marketing activities.
A.Digital technology has changed the way we live.
What term is applied to the practice of a firm comparing its products and processes to the leading competitors in the same industry?* Assessing Benchmarking Industrial espionage Competing Estimating
Benchmarking
Which of the following correctly identifies the five core customer and marketplace concepts? Question content area bottom Part 1 A. (1) Needs, wants, and demands; (2) Market offerings; (3) Value; (4) Satisfaction; and (5) Markets B. (1) Needs; (2) Wants; (3) Demands; (4) Market offerings; and (5) Markets C. (1) Needs, wants, and demands; (2) Market offerings; (3) Value and satisfaction; (4) Exchanges and relationships; and (5) Markets D. (1) Needs, wants, and demands; (2) Products; (3) Value; (4) Customers; and (5) Competitors E. (1) Needs, wants, and demands; (2) Market offerings; (3) Value and satisfaction; (4) Competitors; and (5) Profits
C. (1) Needs, wants, and demands; (2) Market offerings; (3) Value and satisfaction; (4) Exchanges and relationships; and (5) Markets
What is the first step in the marketing research process? Question content area bottom Part 1 A. Implement the research plan. B. Define the problem. C. Develop a research plan. D. Report the findings. E. Interpret the findings.
Define the problem.
Which of the following statements about segmentation is true? Question content area bottom Part 1 A. Different segments might require different marketing strategies or mixes. B. Buyers within a market segment have different needs, characteristics, and behaviors. C. Most companies today mass market and do not segment their markets. D. Market segmentation is part of a company's value proposition. E. Segmentation identifies individual buyers that can be targeted with a market offering.
Different segments might require different marketing strategies or mixes.
The Coca-Cola Company sells beverages, ranging from soft drinks to juices to bottled water, to a variety of different segments. Which targeting strategy is Coca-Cola using? Question content area bottom Part 1 A. Undifferentiated marketing B. Local marketing C. Concentrated marketing D. Differentiated marketing E. Individual marketing
Differentiated marketing
Which of the following statements regarding B-to-B digital and social media marketing is correct? Question content area bottom Part 1 A. Neither digital nor social media are engaging for business buyers and sellers. B. Digital and social media facilitate anytime, anywhere connectivity. C. Digital and social media can only be used for consumer products. D. Digital and social media require more in-office sales calls. E. B-to-B marketers use digital media, but avoid social media.
Digital and social media facilitate anytime, anywhere connectivity.
The pet division of Amazing & Co has low market share in a low-growth market. According to the BCG matrix, the pet division of Amazing can be classified as a ________.* Cash cow Dog Star Question mark Bear
Dog
Which type of research is used for gathering preliminary information that will help further define the research questions? Question content area bottom Part 1 A. Descriptive research B. Exploratory research C. Causal research D. Experimental research E. Ethnographic research
Exploratory research
Human needs are shaped by culture and individual personality.* True False
False
Marketers usually limit their segmentation analysis to only one major variable.* True False
False
Subcultures consist only of religious groups.* True False
False
A university enrolled 200 graduate students in the Fall of 2019. However, the enrollment rate was only slightly affected following a 12-percent hike in tuition the following fall. This illustrates ________ demand.* derived composite highly elastic relatively inelastic negative
Inelastic
Which of the following is true about Internet-based survey research?* Internet-based survey research is less flexible compared to mail questionnaires. Internet-based survey research is characterized by high speed and low costs Typically, the quantity of data gathered in Internet-based survey research is low The response rate of Internet-based survey research is lower than that of mail questionnaires The effectiveness of Internet-based survey research is invariably affected by the interviewer's bias.
Internet-based survey research is characterized by high speed and low costs.
________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.* Positioning Mass customization Differentiation Market segmentation
Market segmentation
Orion Inc. operates in many industries, including pharmaceuticals and food products. The company's goal is to create "abundant and affordable food for all and a healthy environment." This represents Orion's ________.* Marketing plan Product mix Mission Statement Business portfolio Marketing mix
Mission Statement
What does the buying process begin with? Question content area bottom Part 1 A. Information search B. Evaluation of alternatives C. Purchase D. Cognitive dissonance E. Need recognition
Need recognition
What is the correct order of the five stages in the buyer decision process? Question content area bottom Part 1 A. Evaluation of alternatives, information search, need recognition, the purchase decision, and postpurchase behavior B. Need recognition, the purchase decision, information search, evaluation of alternatives, and postpurchase behavior C. Need recognition, information search, evaluation of alternatives, the purchase decision, and postpurchase behavior D. Information search, evaluation of alternatives, need recognition, the purchase decision, and postpurchase behavior E. Information search, need recognition, evaluation of alternatives, the purchase decision, and postpurchase behavior
Need recognition, information search, evaluation of alternatives, the purchase decision, and postpurchase behavior
Which of the following strategies would be utilized by a market challenger? Question content area bottom Part 1 A. Observe what has made the market leader successful and improve on it B. Expand their market share further C. Expand total demand D. Protect their current market share through good defensive and offensive actions E. Find one or more market niches that are safe and profitable
Observe what has made the market leader successful and improve on it
What is the final step in the business buyer decision process? Question content area bottom Part 1 A. Product specification B. Problem recognition C. Proposal solicitation D. Performance review E. Supplier selection
Performance review
A particular firm added three new products earlier this year to increase variety for customers. Two of the products failed to reach the minimal sales quota. Which of the following is LEAST likely to have been the cause of their failure?* The products were priced too high. The products were advertised incorrectly. Competitors fought back harder than expected. Product research was too extensive. The product development costs were high. Submit
Product research was too extensive.
________ segmentation divides buyers into different segments based on social class, lifestyle, or personality characteristics.* Occasion Benefit Geographic Demographic Psychographic
Psychographic
The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. According to the BCG matrix, the pharmaceuticals division of Omni can be classified as a ________.* Dog Star Bear Cash cow Question mark
Question mark
What is the most widely used method of primary data collection? Question content area bottom Part 1 A. Surveys and questionnaires B. Experimental research C. Focus groups D. Group interviews E. Observation
Surveys and questionnaires
Which of the following is NOT correct regarding companies that are competitor-centered? Question content area bottom Part 1 A. The company searches out competitors' weaknesses. B. The company watches for weaknesses in its own position. C. The company can become too reactive. D. The company develops a fighter orientation. E. The company watches both customers and competitors.
The company watches both customers and competitors.
Which of the following statements is NOT correct regarding market nichers? Question content area bottom Part 1 A. The key idea in niching is standardization. B. Nichers target subsegments of larger markets. C. A nicher can charge a substantial markup over costs because of the added value. D. Nichers can specialize based on geography, price-quality, service, end user, and customer group size. E. To buffer risk, many nichers practice multiple niching.
The key idea in niching is standardization.
What determines if a buyer is satisfied or dissatisfied with a purchase? Question content area bottom Part 1 A. How others feel about the purchase B. The amount of information gathered in the decision process C. The number of alternatives considered in the purchase decision D. Whether or not they experience cognitive dissonance E. The relationship between consumer expectations and perceived product performance
The relationship between consumer expectations and perceived product performance
What is the overall purpose of differentiation? Question content area bottom Part 1 A. To divide the market into smaller groups of buyers B. To allow a firm to offer the lowest prices C. To create superior customer value D. To market high quality products E. To select the segment or segments to enter
To create superior customer value
What are perceptual positioning maps used for? Question content area bottom Part 1 A. To compare a company's profitability with the profitability of competitors B. To find where to best position a product on a store shelf C. To implement a particular positioning strategy D. To show consumer perceptions of an individual brand on important buying dimensions E. To show consumer perceptions of different brands on important buying dimensions
To show consumer perceptions of different brands on important buying dimensions
According to Maslow's hierarchy of needs theory, when the most important need is satisfied, it will cease to be a motivator, and the person will then try to satisfy the next most important need.* False True
True
Gina Parker owns an ad agency in Baton Rouge. She regularly purchases cleaning supplies for her custodial staff, using the same vendor and ordering relatively consistent amounts of the same products on each purchase. This is an example of ________.* a new task a modified rebuy situation a straight rebuy situation reverse auction product differentiation
a straight rebuy situation
Marketers who use ________ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals.* benefit segmentation demographic segmentation geographic segmentation psychographic segmentation occasion segmentation
benefit segmentation
Business markets are similar to consumer markets in that ________.* the types of decisions are fairly consistent in both the markets the nature of the buying unit is the same for both both involve people who assume buying roles and make purchase decisions to satisfy needs the decision processes involved in both the markets are same both share the same market structure
both involve people who assume buying roles and make purchase decisions to satisfy needs
Business buyer behavior refers to the ________.* strong affinity of businesses for value-for-money deals buying behavior of consumers who buy goods and services for personal consumption buying behavior of consumers who rely on small retailers for the regular supply of provisions buying behavior of the organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others decision process by which business buyers determine which products and services their organizations need to purchase
buying behavior of the organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others
The ________ refer(s) to all the individuals and units that play a role in the purchase decision-making process.* buying center gatekeepers influencers users systems sellers
buying center
Jameeka sees a new blouse advertised on social media that she really wants. She decides that when she gets paid on Friday, she will buy it. This blouse has become a ________ for Jameeka. Question content area bottom Part 1 A.market offering B.need C.demand D.want E.felt deprivation
c. demand
Akira Takano, a marketing manager, is about to test the hypothesis that the sale of a particular product will increase exponentially if there is a $5 drop in the selling price of the product. Akira is involved in ________ research.* constructive ethnographic exploratory causal descriptive
causal
Post purchase, consumers may experience ________, which is an uneasy feeling about acquiring the drawbacks of the chosen brand and about losing the benefits of the brands not purchased. Question content area bottom Part 1 A. cognitive dissonance B. delight C. dissatisfaction D. satisfaction E. satisficing
cognitive dissonance
A ________ is something that allows the firm to distinguish itself from other firms by offering customers greater value. Question content area bottom Part 1 A. competitive marketing strategy B. SWOT C. strategic group D. competitive advantage E. customer value analysis
competitive advantage
Gaining ________ requires delivering more value and satisfaction to target consumers than competitors do.* comparative advantage economies of scale competitive advantage first-mover advantage differentiation
competitive advantage
The systematic monitoring, collection, and analysis of available information about competitors and developments in the marketplace is called ________. Question content area bottom Part 1 A. marketing research B. a marketing intelligence ecosystem C. big data D. marketing data E. competitive marketing intelligence
competitive marketing intelligence
Competition can be good for a firm for all of the following reasons EXCEPT . Question content area bottom Part 1 A. competitors may help legitimize new technologies B. competitors may share the cost of product development C. competitors may erode profit margins D. competitors may share the cost of market development E. competitors may serve less attractive market segments
competitors may erode profit margins
Porsche is a German automobile manufacturer that competes against BMW and Audi, but only in the sports car and SUV segments of the automobile market. Porsche utilizes a(n) ________ strategy.* overall cost leadership focus middle-of-the-roaders market analysis blue ocean
focus
You and seven other people are talking with a trained moderator about your feelings and thoughts about a potential new product. For doing this you receive a small payment. You are participating in a(n) __________. Question content area bottom Part 1 A. individual interview B. experiment C. ethnographic study D. immersion group E. focus group interview
focus group interview
Companies that operate large marketing departments, conduct expensive marketing research, spell out elaborate competitive strategies, and spend huge sums on advertising are using ________ marketing strategies.* entrepreneurial informal blue ocean intrepreneurial formulated
formulated
Which of the following are market challenger strategies?* expand total market and protect market share expand market share and follow closely follow closely and follow at a distance full frontal attack and indirect attack multiple niching and quality service
full frontal attack and indirect attack
Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods. This is an example of ________.* demographic segmentation product diversification psychographic segmentation branding geographic segmentation
geographic segmentation
Burger King sends digital coupons to customers' smartphones when they are close to a McDonald's location. This is an example of ________. Question content area bottom Part 1 A. age and life-cycle segmentation B. demographic segmentation C. discrimination D. income segmentation E. hyperlocal social marketing
hyperlocal social marketing
Dunkin' has partnered with traffic navigation app Waze to allow drivers to find the nearest Dunkin' outlet. This practice is an example of________.* community-based marketing hyperlocal social marketing psychographic segmentation artificial intelligence demographic segmentation
hyperlocal social marketing
Which of the following is the first step taken in the competitive intelligence system?* check, interpret, and organize gathered information identify types of competitive information needed based on the goals respond to inquiries from managers about competitors create a new brand image and marketing concept for the firm based on the goals
identify types of competitive information needed based on the goals
If demand in a business market does not change much when price changes, it is said to be ________. Question content area bottom Part 1 A. fluctuating B. constant C. inelastic D. elastic E. derived
inelastic
The Pure Drug Company produces insulin, a product with a very stable demand. Even though the price changed several times in the past two years, the demand for Pure Drug's insulin remained relatively unaffected. In this instance, the demand for insulin is representative of ________ demand.* latent negative inelastic composite derived
inelastic
Companies that use brand ambassadors are most likely involved in ________ marketing.* ambush spam influencer database
influencer
Marissa Hopkins, a hospital nurse, notices that the gurneys used in the hospital are not durable enough. She informed the hospital authorities about Grace Care Inc., a new company selling lightweight and durable gurneys and recommended the company. In this instance, Marissa played the role of a(n) ________.* strategist buyer influencer gatekeeper decider
influencer
Nike enlisted help from professional atheletes, such as Serena Williams and Cristiano Ronaldo, to spread positive news about the firm's products. This practice is known as ________.
influencer marketing
Secondary data consist of ________.* data that does not age information collected for the specific purpose at hand information that already exists somewhere, having been collected for another purpose data that is unreliable and unsuitable for the purpose of making marketing decisions information collected from conducting personal, in-depth interviews
information that already exists somewhere, having been collected for another purpose
To develop needed information, marketing information ecosystems utilize ________. Question content area bottom Part 1 A. internal databases, marketing intelligence, and marketing research B. marketing managers, information users, and internal databases C. internal databases, big data, and market research D. marketing intelligence, marketing research, and the marketing environment E. internal databases, marketing research, and marketing managers
internal databases, marketing intelligence, and marketing research
Which of the following is NOT a method of gathering good marketing intelligence?* interviewing competitors' employees to learn as much "inside information" as possible setting up digital centers that monitor brand-related online consumer and marketplace activity purchasing merchandise from competing sites to analyze and compare their assortment, speed, and service quality searching specific competitor names, events, or trends to see what comes up sending out teams of trained observers to mingle with customers
interviewing competitors' employees to learn as much "inside information" as possible
According to the text, the three major public policy and ethical issues in marketing research are ________. Question content area bottom Part 1 A. intrusions on consumer privacy, data security and protection, and unsafe products B. improper sampling procedures, intrusions on consumer privacy, and the misuse of research findings C. intrusions on consumer privacy, data security and protection, and the misuse of research findings D. international research, the misuse of research findings, and intrusions on consumer privacy E. the misuse of research findings, data security and protection, and deceptive advertising
intrusions on consumer privacy, data security and protection, and the misuse of research findings
Lark Inc., an American electronics company, is currently reviewing new geographical markets to sell its highly popular televisions. By 2025, it plans to open new stores across all the major South Asian cities. Lark is most likely following a ________ strategy.* Product development Local marketing Diversification Market development Product adaptation
market development
When marketers at Fair & Leigh Inc. selected the Gen Z, a demographic group that includes many college students, as an untapped group of potential customers for their new line of products, they were engaging in ________.* occasion segmenting market diversification local marketing product positioning market targeting
market targeting
When the size, purchasing power, and profile of a market segment can be calculated, the market is ________.* actionable profitable substantial measurable competitive
measurable
In a(n) ________ situation, the buyer wants to revise product specifications, prices, terms, or suppliers. * new task modified rebuy absolute auction reverse auction straight rebuy
modified rebuy
Business marketers have fewer target buyers than consumer marketers. However business buyers often face ________ than do consumer buyers.* informal buying processes less complex buying decisions shorter buying processes more complex buying decisions fewer product details
more complex buying decisions
Business marketers use geographic, demographic, benefit, user status, usage rate, and loyalty status to segment their markets. They also use ________, personal customer operating characteristics, purchasing approaches, and situational factors.* psychographics weather patterns personal characteristics budgets and financial status ethical traits
personal characteristics
The first step of the business buying process is ________.* product specification order-routine specification general needs description performance review problem recognition
problem recognition
Chronos Inc. designs and markets different brands of cycling watches. Each brand has a single unique feature: the Chronos Cosmos has a heart rate monitor, the Chronos Acumen is designed for older cyclists who prefer a large display, and the Chronos Aegis has a GPS function. Which of the following is evident here?* channel differentiation service differentiation product differentiation people differentiation image differentiation
product differentiation
An American cola-manufacturing company that primarily targets rebellious and adventurous people most likely uses ________ segmentation.* geographic benefit psychographic income occasion
psychographic
A shoe manufacturing company uses ads featuring the members of a country music band with the hope that the band's fans will see them wearing the company's shoes and hence purchase the same brand of shoes. The shoe company believes that the band portrays the image of a ________ to the band's fans.* membership group reference group status symbol subculture lifestyle
reference group
Cathy's Clothes is a small yet successful retail chain that sells women's clothing and accessories with a focus on buyers who have relatively modest means. For this specific purpose, the firm has rolled out several marketing initiatives aimed at women of a specific demographic. This is an example of ________. * societal marketing ambush marketing cause marketing target marketing social marketing
target marketing
The four Ps of the marketing mix are redefined in customer terms as the four As. What are the four As of the marketing mix? Question content area bottom Part 1 A. Acceptability, accessibility, awareness, advantage B. Approaches, added incentives, accessibility, awareness C. Added incentives, advantage, aptitude, alternatives D. Affordability, accessibility, added incentives, awareness E. Acceptability, affordability, accessibility, awareness
Acceptability, affordability, accessibility, awareness
What are the four major influences on business buyer behavior? Question content area bottom Part 1 A. Environmental, technological, interpersonal, and individual B. Environmental, organizational, interpersonal, and societal C. Societal, organizational, interpersonal, and individual D. Environmental, organizational, cultural, and individual E. Environmental, organizational, interpersonal, and individual
Environmental, organizational, interpersonal, and individual
Items such as technical specifications, quantities, delivery times, return policies, and warranties are included in the ________. Question content area bottom Part 1 A. order-routine specification B. proposal solicitation C. supplier selection D. general need description E. product specification
order-routine specification
Life-stage changes usually result from ________.* life-changing events mentors siblings friends birthdays
life-changing events
When marketers differentiate and position their market offerings, they must decide on which of the following? Question content area bottom Part 1 A. A value proposition B. A profitable segment C. A profit goal D. A segmentation strategy E. A target market
a value proposition
Every Monday a pizzeria places the same order with its supplier for pepperoni. Management has changed, and now they want to change the order specifications to a better quality pepperoni. Which type of buying situation does this represent? Question content area bottom Part 1 A. A straight rebuy B. A new task situation C. A consumer transaction D. A modified rebuy E. Systems selling
A modified rebuy
Which of the following companies has a product-oriented business definition?* A luxury hotel, whose business definition is: "We sell out-of-the-world experiences to our guests." A cosmetic company, whose business definition is: "We offer hope and self-expression." A shoe manufacturer, whose business definition is: "We manufacture affordable and long-lasting shoes for all." A high-technology company, whose business definition is: "We sell inspirations." A real estate company, whose business definition is: "We sell dreams."
A shoe manufacturer, whose business definition is: "We manufacture affordable and long-lasting shoes for all."
Engaging customers and managing profitable customer relationships is the simplest definition of ________. Question content area bottom Part 1 A. marketing B. advertising C. a market D. value E. satisfaction
A. Marketing
marketing is perhaps the fastest-growing digital marketing platform. Question content area bottom Part 1 A. Mobile B. Real-time C. Sustainable D. Social media E. Online social
A. Mobile
Which customer group is potentially profitable but not loyal? Question content area bottom Part 1 A.Strangers B.Butterflies C.Barnacles D.True friends E.True believers
B.Butterflies
What are the four Ps of marketing? Question content area bottom Part 1 A. Product, promotion, price, packaging B. Product, price, people, packaging C. Product, price, place, promotion D. Product, price, promotion, profit E. Product, people, price, promotion
C. Product, price, place, promotion
Which of the following is NOT a recent trend in the marketing landscape? Question content area bottom Part 1 A. The use of artificial intelligence B. Rapid globalization C. The slowing growth of nonprofit marketing D. Caring capitalism E. A focus on sustainable marketing
C. The slowing growth of nonprofit marketing
The demand for organic produce is growing. Green Acres Farms grows only organic vegetables. In a SWOT analysis, the rising demand for organic produce would be a(n) __________ for Green Acres Farms, and the fact that they grow only organic vegetables is a(n) __________. Question content area bottom Part 1 A. opportunity; threat B. opportunity; opportunity C. opportunity; strength D. threat; strength E. strength; opportunity
C. opportunity; strength
The marketing department of a reputable firm wants to improve strategic decision making, track the actions of other players in the market, and provide early warning of opportunities and threats. Which of the following would help the firm achieve its objectives?* Strategic planning Customer relationship management Ethnographic research Competitive marketing intelligence Data warehousing
Competitive marketing intelligence
Within a company, who is most likely to perform strategic planning?* The president and vice presidents Cross-functional teams of divisional managers close to their markets The manufacturing and production departments The accounting and finance departments The marketing and sales departments
Cross-functional teams of divisional managers close to their markets
Which of the following is an insight that drives customer-driven marketing?* Customers don't know what is possible Customers are unaware of their needs Companies understand customer needs even better than customers themselves do Customers know what they want Products are created that meet both existing and latent needs, now and in the future
Customers know what they want.
Starbucks is opening Princi Bakery and Café shops, which offer artisan Italian food. Which growth strategy is Starbucks pursuing? Question content area bottom Part 1 A. Market development B. Product development C. Divestment D. Diversification E. Market penetration
D. Diversification
involves evaluating each market segments attractiveness and selecting one or more segments to enter. Question content area bottom Part 1 A. Marketing mix B. Market differentiation C. Market segmentation D. Market targeting E. Market positioning
D. Marketing Targeting
A firm's suppliers, distributors, and even customers that all partner to improve performance and deliver customer value is known as the ________. Question content area bottom Part 1 A. guiding philosophy B. value chain C. supply chain D. value delivery network E. partner relationship management system
D. value delivery network
Which growth strategy seeks to increase sales to current customers without changing the product? Question content area bottom Part 1 A. Diversification B. Portfolio analysis C. Market development D. Product development E. Market penetration
E. Market Penetration
Brianne just started a new position as the marketing manager at a larger firm. After evaluating their marketing efforts, she realized the firm was trying to serve everyone and not doing a good job of serving anyone. Now Brianne needed to convince upper management that the firm should focus more on select customers. This practice is called ________. Question content area bottom Part 1 A. building exchange relationships B. the marketing concept C. choosing a value proposition D. marketing myopia E. target marketing
E. Target Marketing
Mary is hungry and chooses to go to McDonalds for a salad. Mary's hunger is a _______ and her choice of a salad is a _______. Question content area bottom Part 1 A.demand; want B.want; need C.want; demand D.need; demand E.need; want
E.need; want
Which adopter group is most likely to be an opinion leader in their community? Question content area bottom Part 1 A. Innovators B. Early mainstream adopters C. Late mainstream adopters D. Early adopters E. Lagging adopters
Early adopters
________ refers to gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses. * Experimental research Descriptive research Constructive research Observational research Survey research
Experimental research
What is the first thing a company does when analyzing competitors? Question content area bottom Part 1 A. Select which competitors to attack. B. Assess competitor's strengths and weaknesses. C. Assess the competitor's objectives and strategies. D. Select which competitors to avoid. E. Identify the company's competitors.
Identify the company's competitors.
Which of these marketing management functions involves turning strategies into actions? Question content area bottom Part 1 A. Implementation B. Planning C. Analysis D. Organization E. Control
Implementation
A university is buying notebook computers for its faculty. The university's Information Technology department has been asked to provide specifications and recommendations for this purchase. The IT department is playing which role in the university's buying center? Question content area bottom Part 1 A. Influencer B. Gatekeeper C. Decider D. Buyer E. User
Influencer
Which of the following correctly identifies the first two adopter groups that adopt a new product? Question content area bottom Part 1 A. Early mainstream and late mainstream B. Late mainstream and laggard adopters C. Innovators and early adopters D. Early adopters and early mainstream E. Innovators and laggard adopters
Innovators and early adopters
There is a growing segment of consumers who want to live a simpler, more mobile existence and are opting for tiny homes. This market represents which segmentation base? Question content area bottom Part 1 A. Lifestyle B. Age C. Usage rate D. Gender E. Geography
Lifestyle
An organic farmer has identified three distinct groups that might be interested in his products: vegetarians, health-conscious individuals, and people identified as trendsetters who try out new products in the market before others. These three groups are examples of ________.* Marketing intermediaries Market offerings Market segments Marketing mixes Value propositions
Market segments
Which value discipline would be recommended for customers who want reliable, good-quality products or services but want them cheaply and easily? Question content area bottom Part 1 A. Product leadership B. Focus C. Overall cost leadership D. Operational excellence E. Customer intimacy
Operational excellence
________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, can socially influence others.
Opinion leaders
What are the three winning competitive positioning strategies proposed by Michael Porter? Question content area bottom Part 1 A. Overall cost leadership, differentiation, and middle-of-the-road B. Entrepreneurial marketing, formulated marketing, and intrapreneurial marketing C. Operational excellence, customer intimacy, and product leadership D. Overall cost leadership, differentiation, and focus E. Overall cost leadership, middle-of-the-road, and focus
Overall cost leadership, differentiation, and focus
Which of the following statements is true of social classes?* Social classes are society's temporary divisions. Social classes universally exhibit identical product and brand preferences Income is the single factor that determines social class. People within a social class tend to exhibit similar buying behavior. Members of a social class have unique and distinct values, interests, and behaviors.
People within a social class tend to exhibit similar buying behavior.
Branscom studied the product defect report from manufacturing and noted that products made with raw materials purchased from Supplier XYZ continued to result in product quality issues. Which stage of the business buyer decision process is Branscom in? Question content area bottom Part 1 A. Problem recognition B. Supplier selection C. Product specification D. Proposal solicitation E. Supplier search
Problem Recognition
Railroads were once operated based on the thinking that users wanted trains that would offer the most in quality, performance, and innovative features. The railroad management companies overlooked the fact that there could be other modes of transportation. This reflects the ________ concept.* Production Marketing societal marketing Product Selling
Product
Sunny Brews is a coffeehouse chain based in Boston. It recently introduced Eva, a mild roast, which became immensely popular. This exemplifies ________.* Benchmarking Downsizing Product development Mass customization Diversification
Product development
segmentation divides buyers into different segments based on lifestyle or personality characteristics. Question content area bottom Part 1 A. Behavioral B. Psychographic C. Gender D. Income E. Benefit
Psychographic
When marketers use online commercial databases and internet search engines to collect data, what type of data are they collecting? Question content area bottom Part 1 A. Primary data B. Secondary data C. Internal data D. Big data E. Ethnographic data
Secondary data
Beaux pulled some data from other firms in the same industry so he could assess how well his firm was doing using some key ratios. This comparison is known as ________. Question content area bottom Part 1 A. benchmarking B. strategic analysis C. customer value analysis D. a blue ocean strategy E. a SWOT analysis
benchmarking
Harley-Davidson promotes its motorcycles with images of independence, freedom, and power. Harley-Davidson has created a ________.* motive brand personality self-actualization need self-concept life-cycle stage
brand personality
occurs when marketers are so focused on their products that they focus only on existing wants and lose sight of underlying customer need. Question content area bottom Part 1 A. Exchange B. Profit C. Marketing myopia D. Creating value E. Customer satisfaction
c. Marketing Myopia
Which of the following refers to a probability sample in which the population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview?* simple random sample cluster sample Quota sample judgment sample stratified random sample
cluster sample
is the set of basic values, perceptions, wants, and behaviors that people learn from family members and other important societal institutions.
culture
Which of the following is the first step in the marketing research process?* defining the problem and objectives of the study developing the research plan implementing the research plan interpreting and reporting the findings developing a marketing information system
defining the problem and objectives of the study
The primary purpose of a strategic plan is to ________________. Question content area bottom Part 1 A. design a business portfolio B. build profitable customer relationships C. establish market share objectives D. develop and maintain a strategic fit between a company's goals and capabilities and its changing marketing opportunities E. expand into new markets
develop and maintain a strategic fit between a company's goals and capabilities and its changing marketing opportunities
A company sent a trained observer to watch and interact with consumers in their natural environments in order to gain deeper insights on consumer needs. This is an example of ________.* survey research experimental research niche marketing ethnographic research viral marketing
ethnographic research
Miranda has a meeting scheduled with the supplier development department at a major retailer. She arrived early for the meeting and notified the administrative assistant that she was here for her appointment. The administrative assistant tried to engage Miranda in conversation but she was busy going over her notes. Miranda should have taken the time to chat with the administrative assistant since they could be a(n) ________. Question content area bottom Part 1 A. buyer B. influencer C. gatekeeper D. decider E. user
gatekeeper
Dollar General and Family Dollar cater to customers using ________ targeting. Question content area bottom Part 1 A. age B. income C. life-cycle D. behavioral E. geographic
income
Marketing can disrupt the internal value chain and cause conflicts to develop because it can potentially _______. Question content area bottom Part 1 A. gain commitment from the entire company to engage customers B. make all departments "think consumer" C. align all functional areas with the goal of increasing customer value D. coordinate the efforts of different company departments to deliver customer value E. increase purchasing costs, increase inventories, cause budget headaches and disrupt production schedules
increase purchasing costs, increase inventories, cause budget headaches and disrupt production schedules
ALDI grocery stores are known for their super-low prices with limited product selection and limited service. Which value proposition is ALDI using? Question content area bottom Part 1 A. More for the same B. More for less C. Less for much less D. More for more E. The same for less
less for much less
In balancing customer and competitor orientations, it is best that a company be ________-centered. Question content area bottom Part 1 A. profit B. product C. customer D. competitor E. market
market
The business buyer decision process starts with ________ and ends with ________. Question content area bottom Part 1 A. problem recognition; supplier selection B. problem recognition; a performance review C. proposal solicitation; a performance review D. supplier search; supplier selection E. proposal solicitation; supplier selection
problem recognition; a performance review
Companies that define their missions in terms of products or technologies are considered myopic primarily because ________* Consumer preferences for different product categories vary from time to time Products and technologies result in low returns on investment Products and technologies eventually become outdated Most consumers are not comfortable using sophisticated technology during the buying process Consumer preferences with regard to products and technology are difficult to predict
products and technologies eventually become outdated
A purse company's ads feature the cast of a popular reality show. Product sales increase significantly among the fans. From the fans' viewpoint, the cast is a(n) __________. Question content area bottom Part 1 A. opinion leader B. subculture C. membership group D. social network E. reference group
reference group
Mark has long supported a particular brand of footwear and has always bought that brand. Recently, the footwear manufacturer was embroiled in a controversy for using child labor at its manufacturing plants. Mark doubts the news reports and continues to purchase the same brand of footwear. It is most accurate to say that Mark displays ________.* cognitive dissonance selective retention selective distortion selective attention consumer ethnocentrism
selective distortion
What are the three objectives a marketing research project could have? Question content area bottom Part 1 A. Descriptive, explanatory, causal B. Exploratory, descriptive, causal C. Primary, secondary, internal D. Causal, explanatory, internal E. Exploratory, descriptive, primary
Exploratory, descriptive, causal
