Marketing Quiz 1, 2, and 3

Omega Inc. makes lightweight sunglasses with 100-percent UV protection for people who love to hunt, hike, and ride bikes. The company's long-term plans include the development of lenses that, in addition to protecting users from UV rays, would help reduce lens spotting through effective water-sheeting methods. This new feature would be valuable to people who fish. Given the rising popularity of recreational fishing in the United States, Omega products clearly have a huge market potential. In terms of a SWOT analysis, Omega has recognized a market ________. A) weakness B) strength C) threat D) opportunity E) challenge

opportunity

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 managing companies overlooked the fact that there could be other modes of transportation. This reflects the ______ concept. A) marketing B) selling C) production D) product E) societal marketing

product

______ are high-share business units in the high-growth markets that require a lot of cash to sustain their growth. A) cash cows B) dogs C) bears D) stars E) question marks

stars

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 ________. A) cause marketing B) target marketing C) ambush marketing D) social marketing E) societal marketing

target marketing

Companies can research many aspects of buying decisions. However, the one that marketers typically struggle with the most is learning _________. A) where consumers buy B) how much consumers buy C) what consumers buy D) when consumers buy E) why consumers buy

why consumers buy

What type of research objective is most suitable for obtaining conclusive answers to questions such as whether one ad would garner greater attention and recall than another, and whether the presence versus absence of $0.50 coupons would make people more likely to buy the national brand? A) descriptive research B) all of the above C) explanatory research D) causal research E) case analysis

causal research

A regional supermarket chain runs print, radio, and television advertisements announcing that 1 percent of its sales is donated to local after-school programs for underprivileged youth. This is an example of ______. A) sustainable marketing B) cause-related marketing C) generational marketing D) marketing segmentation

cause-related marketing

George has bought his first house. He has spent a month looking at houses and comparing different prices and locations. He has contacted several real estate agents to look at different types of houses. George is most likely exhibiting ______. A) habitual buying behavior B) variety-seeking buying behavior C) marketing myopia D) complex buying behavior E) dissonance-reducing buying behavior

complex buying behavior

Kao Corp., a deodorant manufacturer, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of ________. A) the production concept B) the selling concept C) consumer-generated marketing D) societal marketing E) partner relationship management

consumer-generated marketing

"Losing a customer once means losing the entire stream of possible purchases that the customer would make over an extended period of patronage." This statement specifically indicates loss in terms of _____. A) customer lifetime value B) partner relationship management C) customer-perceived value D) value proposition E) market offerings

customer lifetime value

FedEx offers its customers fast and reliable package delivery. When FedEx customers weigh these benefits against the monetary cost of using FedEx along with any other costs of using the service, they are acting upon ________. A) customer perceived value B) customer equity C) customer lifetime value D) a societal marketing campaign E) brand loyalty

customer perceived value

Sally recently purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations about Brand X lotion, Sally was measuring her level of ________. A) customer perceived value B) customer satisfaction C) share of customer D) customer lifetime value E) customer equity

customer satisfaction

The marketing team of 7 Star Inc., a company manufacturing smartphones, is currently studying the size, density, location, age, and occupation of its target market. Which of the following environments is being studied in this scenario? A) demographic environment B) political environment C) economic environment D) technological environment E) cultural environment

demographic environment

For the past ten years, Bill and Margaret have saved money to go to the Super Bowl should their team, the Chicago Bears, reach the finals of the NFC championship. This is the year, and several tour companies offer attractive, but very similar, packages to the game. Since all the packages are pretty much the same and quite expensive, they have chosen one that fits their budget. Bill and Margaret are most likely exhibiting ______. A) habitual buying behavior B) variety-seeking buying behavior C) complex buying behavior D) dissonance-reducing buying behavior E) consumer ethnocentrism

D (dissonance-reducing buying behavior)

An advantage of secondary data over primary data is that A) it is more accurate than primary data B) it is more up-to-date than primary data C) it entails greater control since the data was collected for the current investigation at hand D) it is faster and easier to acquire than primary data E) it fits better with current research needs than primary data

D (it is faster and easier to acquire than primary data)

Customer satisfaction is a goal that companies strive to earn. Companies can ensure customer delight by ______. A) creating contests with exciting prizes B) using celebrities to advertise the products C) offering promotional deals such as "buy one and get one free" D) promising only what they can deliver and then delivering more than they promise E) regularly putting products on sale

D (promising only what they can deliver and then delivering more than they promise)

Which of the following statements is true regarding social classes? A) lines between social classes in the U.S. are fixed and rigid B) people are relegated to a permanent social class in the U.S. C) social class is determined by income alone D) social classes show distinct differences in how much they care about appearance and body image E) wealth and income are more critical than occupation in measuring social class

D (social classes show distinct differences in how much they care about appearance and body image)

Validity is A) equal to the true score plus systematic error divided by random order B) concerned with the relationships of random error with systematic error C) equal to the true score plus the systematic error D) the degree to which a measure is measuring what it is supposed to measure E) the degree to which a measure obtains similar scores across time and respondents

D (the degree to which a measure is measuring what it is supposed to measure)

Robert has taken up cycling as a hobby and as a way to maintain his physical fitness. He wants to buy a hydration system since he will need a lot of water as he cycles. Having gathered a great deal of information, he has finally narrowed down his choices to three systems: Waterbags for Roadies, Supertanker Hydropacks, and Fast Water. Robert is in the ________ stage of the buyer decision process. A) purchase decision B) information search C) need recognition D) postpurchase evaluation E) evaluation of alternatives

evaluation of alternatives

Juanita Petino, a nutritionist, decided to test the effects of two breakfast cereals, Kinglo and Loopy, on different consumer groups. For the purpose of her study, she randomly assigned volunteers into two groups and asked members of one group to have Kinglo cereal and the members of the other group to have Loopy cereal for breakfast. She then compared happiness ratings between the two groups. In this instance, Juanita is using ________. A) product differentiation B) viral marketing C) niche marketing D) experimental research E) ethnographic research

experimental research

In _______ research, the objective is to gather preliminary information that will help define the problem and suggest hypotheses. A) causal B) statistical C) analytic D) descriptive E) exploratory

exploratory

A current trend in the U.S. involves rediscovering the benefits of home-cooked food and the use of organic ingredients. People are choosing to spend hours in the kitchen using only the freshest ingredients to cook healthy and nutritious meals. This change in _______ is one of the reasons for the increasing demand for organic ingredients. A) life stage B) occupation C) subculture D) personality E) lifestyle

lifestyle

According to the Boston Consulting Group approach, _______ provides a measure of market attractiveness. A) product attribute B) product design C) market penetration D) market growth rate E) market segmentation

market growth rate

A ______ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or a want. A) market mix B) market offering C) brand positioning D) market segment E) value proposition

market offering

A 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 _______. A) value propositions B) market offerings C) market intermediaries D) marketing mixes E) market segments

market segments

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 ________. A) marketing plan B) product mix C) business portfolio D) marketing mix E) mission statement

mission statement

Which of the following marketing management concepts is most likely to lead to marketing myopia? A) customer-driving marketing concept B) marketing concept C) customer-driven marketing concept D) product concept E) societal marketing concept

product concept

Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This reflects the ________ concept. A) social marketing B) product C) selling D) production E) marketing

production

Which of the following are Americans not consuming and using as much of anymore? A) SUVs B) razors C) social media D) fast-casual restaurants E) bottled water

razors

Google Trends is an example of ______ data. A) secondary B) primary C) causal D) explanatory E) mass-generated

secondary

Your state's department of education has budgeted a significant amount of money for a radio, print, television, and online advertising campaign emphasizing the long-term benefits, both educationally and professionally, of reading every day. This is an example of a(n) ________ campaign. A) consumer-generated marketing B) inbound marketing C) ambush marketing D) social marketing E) affiliate marketing

social marketing

Which of the following is NOT a form of mechanical data collection? A) eye-tracking cameras B) checkout scanners C) neuro-marketing D) people meters E) surveys

surveys

Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through ________. A) sales and revenue creation B) research and development C) manufacturing efficiencies D) innovation and creativity E) value creation and exchange

value creation and exchange

Which of the following customer questions is answered by a company's value proposition? A) "What are the costs involved in the production of your brand?" B) "What is the financial stability of your company?" C) "What is your company's estimated customer equity?" D) "What is the budget allocated by your company for research and development?" E) "Why should I buy your brand rather than a competitor's?"

E ("Why should I buy your brand rather than a competitor's?")

Which of the following DOES NOT reflect how Millennials do their grocery shopping? A) Millennials are more likely to keep an on-going grocery list throughout the week B) Millennials prefer food that is locally grown or produced C) Millennials are more likely to adopt a healthy lifestyle D) Millennials prefer ingredients they could recognize E) Millennials are more likely to build shopping trips around a particular recipe

E (Millennials are more likely to build shopping trips around a particular recipe)

In the famous case in the 1980s, Coca-Cola introduced New Coke after conducting extensive research. The failure of the New Coke was largely due to: A) personality and presentation differences B) having too many different types of research objectives C) uneven pay among researchers D) late and occasional erroneous findings E) poor definition if the research problem

E (poor definition if the research problem)

Which consumer group tends to show more brand loyalty and makes shopping a family event, with children having a big say in the purchase decision? A) African Americans B) Arab Americans C) working class consumers D) Hispanic Americans E) middle class consumers

Hispanic Americans

A man weighs 200 lbs. He steps on a scale five times and receives the following weights: 160, 190, 200, 155, 200. This scale is: A) Biased, but systematic B) Not valid or reliable C) Valid, but not reliable D) Reliable, but not valid E) Valid and reliable

Valid, but not reliable

Market segmentation can be best described as the process of ______. A) assigning specific human attributes to a given brand B) dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate marketing programs C) evaluating each market segment's attractiveness and selecting one or more segments to enter D) turning marketing plans into marketing actions to accomplish strategic marketing objectives E) maintaining a strategic fit between organizational goals and changing marketing opportunities

B (dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate marketing programs)

Which of the following is a trend that depicts the increasingly nontraditional nature of today's American families? A) the increasing number of stay-at-home mothers B) the increasing number of dual-income-to-no-kids families C) the sharply declining number of dual-income families D) the decreasing divorce rate E) the decreasing reliance on convenience foods and services

B (the increasing number of dual-income-to-no-kids families)

Customer equity refers to _______. A) a firm's current sales B) the total combined customer lifetime value of all of the company's current and potential customers C) the share a firm earns of a customer's purchasing in their product categories D) the amount a customer is spending each year on certain products E) a firm's market share

B (the total combined customer lifetime value of all of the company's current and potential customers)

A defining characteristic of nonprobability samples is that: A) they are more representative of the population than probability samples B) they involve personal judgement in the element selection process C) results are generalizable from the sample to the population D) each person has a nonzero chance of being included in the sample E) all of these apply

B (they involve personal judgement in the element selection process)

______ are groups to which an individual wishes to belong, as when a young basketball player hopes to play someday in the NBA or WMBA. A) subcultures B) membership groups C) reference groups D) dissociative groups E) aspirational groups

aspirational groups

Which of the following is true with regard to strategic planning? A) at the corporate level, the company starts the strategic planning process by determining what portfolio of businesses and products is best for the company B) a strategic plan deals with a company's short-term goals C) strategic planning involves developing and maintaining fit between the company's goals and the changing marketing environment D) the strategic plan is a statement of an organization's purpose E) strategic planning involves identifying segments of consumers with identical preferences

C (strategic planning involves developing and maintaining fit between the company's goals and the changing marketing environment)