Marketing Questions

WIki

A ____ is a type of software that creates an interface that enables users to add or edit the content of some types of websites.

Competitive Advantage

A ____ is created when a company matches its core competency to opportunities it has discovered in the marketplace.

Regression Analysis

A forecasting method that predicts sales based on relationships between past sales and other variables is called

Market

A group that has the willingness, ability, and authority to buy a product is a

the right combination of circumstances and timing that permits an organization to take action to reach a particular target market

A market opportunity results from

The mix of services offered by the selling firm.

A marketer who starts selling to the business market, after having spent most of his career selling directly to consumers, will quickly come to realize that business customers are more demanding. Business customers place a high value on which of the following aspects of a buying relationship?

individuals first satisfy the most basic needs and then try to fulfill needs at the next level up.

According to Maslow's hierarchy of needs

Provide products that satisfy customers' needs and allow the organization to achieve its goals.

According to the marketing concept, an organization should try to

Attitudes

Cognitive, affective, and behavioral are the three major components of

Podcasts

Due to increasing consumer demand, many television networks are creating ____ of their shows.

Multinational Enterprises

Firms that have operations or subsidiaries located in many countries are referred to as

Strategic Alliance

General Motors has entered into an alliance with Louis Vuitton, a maker of clothing and one of the most successful fashion houses in the world. Louis Vuitton is headquartered in France. GM will use Louis Vuitton designs and color traditions in its production of special edition models of the company's Cadillac SUVs and sedans. The Louis Vuitton elements will appear in the interior and body paint color. This alliance would most likely be classified as

Establish a product's premium image.

Higher prices can be used competitively to

yields a group of brands that a buyer views as possible alternatives.

In the consumer buying decision process, the information search stage

Continual evaluation of the data during the entire collection period.

In the process of conducting marketing research, marketers should allow for

Not currently available to decision makers.

Marketing research is a process designed to gather information

Instability

One of the guaranteed constants in the global business environment is

the increase of consumers using digital media to publicize their own product reviews.

One trend that has caused consumer-generated information to gain importance is

Selective Distortion

Psychological influences are internal factors that impact a consumer's buying decision process. More specifically, ___________ is one type of psychological influence wherein the consumer has a tendency to twist or change information received to fit their own personal feelings or beliefs.

Ultimate Customer

Purchasers who buy products for personal or household use and not for business purposes are called

Consumer Fraud

Purposeful actions to take advantage of or harm others during a transaction is best described as

Reseller

Retailers like Staples and PetSmart are considered to be members of which business market?

Quality

The _____ of a(n) website will have a major impact on whether the customer exhibits loyalty to the site.

Wealth

The accumulation of past income, natural resources, and financial resources is known as

Yelp

The fact that consumers tend to trust other consumers over corporations and often rely on the recommendations of friends, family, and fellow consumers when making purchasing decisions has fostered the growth of sites like

Data Storage and Retrieval

The main focus of a marketing information system is on

all organizational activities.

The marketing concept affects

Achieve the organization's goals.

The marketing concept is a philosophy that states that an organization should try to satisfy customers' needs and also

what actual sales will be at a certain level of company marketing effort.

The sales forecast differs from the company sales potential in that it focuses on

A Market Test

The sales forecasting method that consists of making a product available to buyers in one or more locations and measuring purchase response is

Control

Gabrielle is a retailing and consumer sciences major and plans to pursue a career in fashion design. She enjoys setting the trends for her friends and owns approximately 50 pairs of shoes. She loves shopping for shoes on Zappos, a popular online retail store that is a subsidiary of Amazon. Zappos offers millions of styles of shoes, but Gabrielle can simplify her search through the use of filters. She can filter the search by style, color, material, brand name, and heel height in order to reduce the number of shoes that appear in the search results. Zappos is taking advantage of _____, one of the characteristics of online media.

Direct ownership; joint ventures

Honda is a multinational company. In most countries in which it operates, Honda opens facilities that give it total control over manufacturing and other processes. However, in China Honda must partner with domestic companies due to legal and regulatory constraints. In these cases, Honda owns part of the company, while the domestic firm owns the other part. In most countries, Honda engages in ____________, but in China it engages in _______________.

Deceptive

If online communication is unfair and causes substantial injury that is not reasonably avoidable and is not outweighed by other benefits, then it is considered

Informatiomn Inputs

In the process of perception, individuals receive sensations through sight, sound, taste, smell, and hearing. These sensations are called

Producer

Individuals and business organizations that purchase products for the purpose of making a profit either by using the products to produce other products or by using them in their operations are classified as ____ markets.

Organizations that seek nonbusiness goals.

Institutional markets are

China

Many marketers claim that ____ will become the world's largest market.

users determine which websites they are going to view.

Marketers call the internet a pull medium because

Framing

Marketers can influence customers evaluation by describing alternatives to products and their attributes in a certain manner, a practice known as

Brand

Marketers primarily focus their environmental analysis on ____ competitors.

Reactive

Marketers who view political forces as being beyond their control are taking a(n) ____ response toward these forces.

Accessibility

Marketers' ability to obtain digital information is referred to as

True

Marketing activities can occur even when an exchange doesn't take place.

Satisfaction for both the buyer and seller.

Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship?

Buying Methods

Marketing to businesses employs all the same concepts as marketing to consumers except

Marketing Analytics

Martina had invested a significant amount of resources into advertising a new product. She used tools and methods to measure and interpret the effectiveness of the campaign on customer sales. Martina used ___________ to evaluate her firm's return on investment. She then made adjustments based on her findings.

Derived

Michelin is a manufacturer and marketer of tires for new passenger cars. In recent years, the company's business has declined because of the overall decrease in consumer demand for new cars. In this case, the demand for Michelin's tire products is said to be ____ because it depends on the demand for new cars.

Reference Groups

Our society uses many factors, including occupation, educational level, income, wealth, religion, race, ethnic group, and possessions, to group people into

Pricing

Pharmaceutical companies have at times been accused of acting unethically by taking advantage of customers in the area of

Geographic

Population density and city size are ____ variables used for market segmentation.

Robinson-Patman

Price discrimination is prohibited by the ____ Act.

Data that are observed, recorded, or collected directly from subjects.

Primary data are best described as the

Fail to disclose information to consumers about the risks associated with using a product.

Product-related ethical issues arise when marketers

Outsourcing

Some hospitals in the United States find that their need for radiologists to read X-rays is volatile during the evening and early morning hours, especially between 2:00 and 6:00 a.m. This is because the number of emergency room visits needing X-rays is usually lower than those required during daytime operating hours. There is a recent trend where hospitals in the United States are contracting radiologists from countries such as Australia to read the electronically-transmitted X-rays during the evening and early morning hours. This is an example of

Corporate Identity

Southwest Airlines' planes are easily recognizable even when in the air due to their vibrant color scheme, striped tail, distinctive font, and striped heart. Southwest carries this color scheme and heart symbol throughout much of its communication—airport signs, print and television advertising, even its smartphone app. This use of color, font, and symbols to convey Southwest Airlines' personality is an example of a(n)

Institutional

St. Agatha's Orthodox Church brews fresh coffee for its attendees as part of its hospitality ministry every Sunday. St. Agatha's is a(n) ________ market for coffee sellers.

trying to foresee the effects of new products and processes on the firm's operation and on society in general.

Technology assessment is

Economic

That marketers have an obligation to engage in fair competition and build proper customer relationships best relates to which of the following?

Government

The Environmental Protection Agency (EPA) was established on December 2, 1970, to consolidate in one agency a variety of federal research, monitoring, standard-setting, and enforcement activities to ensure environmental protection for residents of the United States. Since its inception, EPA has been working for a cleaner, healthier environment for the American people and is responsible for providing inspection services and cleanup efforts in the case of contamination or hazards. The EPA is a(n) _____ type of business market.

Reduce worldwide tariffs and increase international trade

The General Agreement on Tariffs and Trade was initially implemented to do which of the following?

marketing objectives; SWOT analysis

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.

Developing a system for gathering ongoing information about competitors.

The best approach for a company to take when monitoring its competitors is

Six, Problem Recognition, Purchase

The consumer buying decision process involves _______ stages. The first stage is ____________, and the last stage is _____________.

Promotion

The element of the marketing mix used to increase awareness of a product or company is

Problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation.

The five major stages of the consumer buying decision process, in order, are

Environmental Analysis

The forces that affect foreign markets may differ dramatically from those affecting domestic markets. This makes a careful ____ a critical part of a successful international marketing strategy.

Time series analysis

The forecasting techniques that assume past sales patterns will continue into the future are all variations of

The Buying Center

The group of people within a business who are involved in making business buying decisions is referred to as

Customers

The marketing concept is a philosophy that states that an organization should try to satisfy customers' needs and also

Cause-related marketing

The practice of linking a firm's product marketing to a particular social cause on an ongoing or short-term basis is known as

it allows a firm to specialize to meet specific customer needs.

The primary advantage of a concentrated targeting strategy is

Car buyers have heterogeneous needs.

The problem with using an undifferentiated strategy to market a "universal car" is that

Lifestyle

The psychographic variable that includes numerous characteristics related to people's activities, interests, and opinion is

Divide a total market to enable a marketer to develop a more precise marketing mix

The purpose of market segmentation is to

That customer loyalty leads to increasing long-term profitability for the firm.

The successful marketer understands that the key to her success is the relationships her firm is able to develop with current customers and potential customers. Moreover, her goal is to achieve the full potential of each of these relationships for the benefit of the firm.This marketer clearly understands

Goods, Services, and ideas

The three basic forms that a product can take are

Resale, use in daily operations, and direct use in producing other products.

The three purposes for which individuals or groups can use products in order for it to be considered a business market are

Organizational Goals

To be effective, employee rewards should also be tied to

the costs incurred from marketing efforts to achieve the sales volume

To be truly useful for sales analyses, marketers must compare current sales data with forecasted sales, industry sales, specific competitors' sales, and

Distribution

Wag is a service similar to Uber in that it uses an app and promotes the sharing economy concept. Dog owners can use the app to contact independent contractors, who will travel to the dog's home and take it for walks, usually while the dog's owner is away. Users often pay the dog walkers tips. However, they receive the benefit of not having to worry about their pet getting exercise. This service capitalizes on which variable of the e-marketing mix?

Interactive

Walgreens has set up a website that enables customers to converse with the company and communicate their needs and wants. This is an example of a(n) ____ website.

Expensive

What is the main problem with using a market test as a forecasting tool?

Economic

When Starbucks decided to expand into the international markets of India, Japan, and Argentina, management realized that there would be significant differences in the standards of living, credit, buying power, and income distribution in those countries. Starbucks is currently examining the ____ forces in its environmental analysis.

Limited Decision Making

When a consumer purchases products occasionally or needs information about an unfamiliar brand in a familiar product category, he or she will most likely engage in

Increasing Effort

When companies offer basic or extended warranties, they are ______ for customers.

Deceptive Advertising

When influencers fail to disclose a connection to a brand they promote, they may be charged with

Technologies

When marketers define their target market, they simultaneously establish a set of

Federal Trade Commission

Which of the following agencies regulates marketing activities the most?

Cognitive

Which of the following components of attitude includes an individuals feelings and emotions toward the object or idea?

Media-Sharing Sites

Which of the following digital media tend to be more promotional oriented?

Jeans

Which of the following is most likely to be a product for which both the purchasing decision and the brand decision are strongly influenced by reference groups?

Limiting Outports

Which of the following is used to help maintain a more favorable balance of trade by a country?

Earned Media

Which of the following occurs when consumers are communicating through word-of-mouth interactions to promote a product or company?

Users

Which of the following organizational members frequently initiates the purchase process?

Buyers

Which of the following organizational members plays a major role in vendor selection for straight rebuy purchases?

Expensive Products

Which of the following products would probably require extended decision making before a purchase?

FTC

Which of the following regulates and makes rules for privacy, fraud, and misappropriation of copyrighted intellectual property, as well as other illicit internet activities?

Government

Which type of business market tends to have the most complex buying procedures?

Influencers; deciders

Within the buying center, ____ are technical personnel who develop product specifications and evaluate alternatives, while _____ actually choose the products.

Political Force

Your company provides oil exploration services to major oil companies in Russia. The United States government just announced it is imposing economic sanctions on Russia because of the military actions it has taken in Ukraine. ​This situation is an example of which of the following types of forces that constantly impact a company's dynamic marketing environment?

Wholesalers

____ buy products from manufacturers and then resell the products to other firms in the distribution system.

Control

____ refers to customers' ability to regulate the information they view and the rate and sequence of their exposure to that information.

Pricing

____ relates to perceptions of value and is the most flexible element of the marketing mix.

Key Performance Indicators

________ that can allow almost real-time measurement and evaluation should be embedded at the onset of a social media strategy.

Intellectual Property

______________ can be ideas and creative materials, songs, movies, books, or electronics that are developed to educate or entertain.

Philanthropic

Actions that promote human health and welfare address the ____ dimension of the pyramid of social responsibility.

Sociocultural Force

Counterfeit luxury goods are a major problem in some Asian countries. Women that purchase counterfeit bags feel a thrill when they are able to fool others into believing they own a luxury brand. However, the major reason for the deception is that people in those cultures place high value on luxury brands. By showing off the brand, these women are demonstrating that they can afford the best. The emphasis and value placed on status is an example of a(n) _________________.

Searching for and evaluating potential products and suppliers.

Examining quality, design, materials, and item reduction to acquire a product in the most cost-effective way falls under which stage of the business buying decision process?

Sherman Antitrust Act.

If all the gas stations in a city collaborated to determine what gas prices should be charged, they would be violating the

sales data are readily available and can reflect the target market's reactions to a marketing mix

Sales analysis is a common method of evaluation because

an overall measure of a nation's economic standing.

The Gross Domestic Product is

Online surveys

Which of the following is the least expensive survey method?

Situation Influences, Social Influences, and Psychological Influences

3 major categories of influences on the consumer buying decision process are

Joint Venture

A business partnership between a domestic firm and a foreign firm is known as

Stakeholders

A company's customers, employees, shareholders, suppliers, governments, communities, and competitors comprise its

Measurable; Consistent

A marketing objective should be expressed in clear, simple terms; be _____________; specify a time frame for completion; and ensure the marketing objective is _____________ with both business-unit and corporate strategies.

Focus-group Interview

A research method in which a number of people are exposed to an idea or concept and the interaction of the people is observed is called a(n)

Franchising

A special form of licensing in which one company grants another company the right to market its product and name in accordance with its standards in exchange for a financial commitment is called

Determining which segmentation variables to use.

After a firm has identified an appropriate targeting strategy, the next step in the target market selection process is

developing market segment profiles.

After an organization has determined which of the many segmentation variables it will use, the next step in the target market selection process is

A market oportunity

After determining that consumers had concerns about certain ingredients that may cause health issues, Patrizzi's Pizza began offering a gluten-free pizza product. The creation of this new product was the result of

Sole Sourcing

An organization that decides to buy all of a certain part from the same company is using

low-priced products has grown

As consumers become more informed about their options, the demand for

Interpretation

Assignment of meaning to organize information inputs is called

Prosperity

Assuming that inflation is low, high buying power characterizes the ____ stage of the business cycle.

Collect in-depth, up-to-date information about customer needs.

Before marketers can develop an appropriate marketing mix, they must

Producer, reseller, government, and institutional

Business markets are typically divided into four categories. These categories are

Political and Legal

Caterpillar, maker of large construction equipment in the United States, would like to better understand factors that would affect its ability to export its products to various countries. Which of the following forces determine how trade barriers affect Caterpillar's marketing efforts?

Consumer Socialization

Children often achieve ____ by observing parents and older siblings in purchase situations and then through their own purchase experiences.

Value

Cynthia is considering the purchase of a new printer for her real estate office. She is considering a printer that doesn't have as many functions but is available at a considerably lower price than her current printer. She is engaged in ____ analysis.

Joint

Duke Auto Supply sells car and truck parts, as well as tire replacement and installation services. As Duke places its order for truck tires with Firestone, it must also place an order for valve stems and balancing weights for the tires. Such business products are characterized as having ____ demand.

Purchase

During which stage of the customer buying decision process does a consumer decide which seller he or she chooses from?

Measures what it is supposed to.

A valid study

Marital Status and Age of Children

Family life cycle is most typically based on

Experimental Research

If Little Caesars wants to determine the impact of different coupon offers on pizza unit sales, it needs to conduct

Undifferenciated Strategy

If a large proportion of customers in a total market have similar product needs and the company has the resources to develop a marketing mix to satisfy them, which targeting strategy would be effective?

Safety

Product testing for reliability and quality helps to ensure a consumer's right to

Selecting Specific Target Markets

The final step in the target market selection process is

Establish performance standards

The first step in the strategic performance evaluation is to

Identifying an appropriate targeting strategy.

The first step in the target market selection process is

Identification and analysis of a target market

The foundation on which a company can develop its marketing mix is

oligopolies, monopolies, monopolistic competition, and pure competition.

The four major competitive structures are

UPS

Which of the following companies is the best example of a service marketer?

Corporate strategy; business-unit strategy; marketing strategy

Which of the following describes the relationships among the three planning levels, from broadest to narrowest?

Product Specifications

Which of the following is NOT a component of a marketing plan?

It is consistent with both business-unit and corporate strategy.

Which of the following is a characteristic of a marketing objective?

Usage Rate

Which of the following is an example of a behavioristic segmentation variable?

A well-implemented ethics program and a strong corporate culture

Which of the following is likely to result in the greatest decrease in ethical risks for an organization?

Government Regulations

Which of the following is the least uncontrollable factor in developing a marketing mix?

Confidentiality issues in marketing research

Which of the following issues is an ethical issue in marketing research?

Legos

Which of the following products is most likely to have its market segment based on age?

Deciding whether or not to have retail outlets in addition to a website.

Which of the following scenarios involves the distribution element of the marketing mix?

Social responsibility refers to a company's obligation to maximize its positive impact and minimize its negative impact on society.

Which of the following statements about social responsibility is correct?

Strategic planning begins at the marketing level and proceeds through business-unit and corporate levels

Which of the following statements is incorrect?

Benefits received in the exchange for the products.

Which of the following would NOT be a customer cost considered in the determination of product value?

John F. Kennedy

Who drafted the Consumer Bill of Rights?

It increases current buying power.

Why are marketers interested in consumers' levels of disposable income?

Distribution

Changing the hours of operation for a service business involves the ____ component of the marketing mix.

Environmental Analysis

Collecting information from secondary sources such as business, government, trade, and general-interest publications plays an important role in

Marketing Implementation

Communicating with the marketing unit, motivating marketing personnel, and coordinating marketing activities are part of the _____________ component of strategic planning.

Analyses of each product or business unit

Competitive growth strategies are based on

Monetary Price

Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is

Understanding your customer

All of the following are steps in the marketing research process except

Population

All the elements, individuals, or units of interest to researchers for a specific study are called the

one's evaluation, feelings, and behavioral tendencies toward an object or idea.

An attitude is

Research Design

An overall plan for obtaining the information needed to address a research problem or issue is called the

Developing marketing objectives and marketing strategies

Analyzing demographic information, customer needs, preferences, and behaviors with respect to product design, pricing, distribution, and promotion is which of the following parts of strategic planning?

Stakeholders

Any constituent who has a claim in some aspect of a company's products, operations, markets, industry, or outcomes is known as a(n)

Market

Any group of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to buy such products is a(n)

begins with identifying the activities to be performed and ends with assigning responsibility for each activity to one or more team members.

Marketers understand that the best marketing strategy in the world is doomed to fail if it is not properly implemented. With that in mind, an effective implementation strategy

Heterogeneous

Most markets for products are made up of individuals or groups with diverse needs for products and are called ____ markets.

Personal interview surveys

Participants in ____ frequently get to see pictures, products, advertising samples, and diagrams.

Monopoly

The type of competitive structure that exists in the case where there are almost no substitutes for a product is a(n)