Marketing Quizzes (1-7)

Marketing planning involves choosing marketing strategies that will help the company attain its overall strategic objectives. (T/F)

True

Paid media refers to promotional channels owned and controlled by the company, including company websites, corporate blogs, owned social media pages, proprietary brand communities, sales forces, and events. (T/F)

True

Which of the following is an example of a combination of sales promotions and direct marketing? -a company giving discounts on their product prices in order to gain a brand image -a company's sales representatives meeting customers directly to present customized offerings -a company sending an e-mail to a customer about a discount on a product during a holiday season a company holding a press conference to talk about their new product -a company releasing a nationwide television ad about every buyer having a chance to win a lottery prize

a company sending an e-mail to a customer about a discount on a product during a holiday season a company holding a press conference to talk about their new product

Which of the following best describes the value chain of a company?

a series of departments that design, produce, market, deliver, and support the company's products

Vernon Inc. would like to set the best price for a new product. The firm conducts an experimental study by selling the new product at two different prices in two different locations keeping other factors constant to see if a lower price results in better sales. This is most likely an example of ________ research.

causal

Customer-driven marketing is most efficient when ---

clear needs exist and customers know what they want

According to the five-step model of the marketing process, the first step in marketing is ----

understanding the marketplace and customer needs and wants

Raw materials consist of ___

farm products

Which of the following is most likely a difference between advertising and sales promotion? -Advertising is a sales-directed form of communication, while sales promotions are endorsed as company news. -Advertising can be used to build up a long-term image for a product while sales promotion effects can be short lived. - Advertising can trigger quick sales, while sales promotions cannot.

Advertising can be used to build up a long-term image for a product while sales promotion effects can be short lived.

Holiday Inn divided its customer market into segments and selected the most promising segments. Deciding what position it wants to occupy in these segments is called diversification. (T/F)

False

Marketing is primarily concerned with engaging customer relationships (T/F)

False

Which of the following is true about customer relationship management (CRM)? - It excludes data on existing customers to focus on potential customers. -It minimizes the need for costly marketing analytics. -It consists of sophisticated software and analytical tools. -It relies on the use of exploratory and causal research. -It eliminates the need for primary research.

It consists of sophisticated software and analytical tools.

---- is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior

Market segmentation

Which statement about convenience products is most likely true? -They are distributed exclusively in only one or a few outlets per market area. -Consumers need to make special purchasing efforts to buy such products. -They are products that consumers rarely consider buying. -Luxury cars and designer clothes are examples of convenience products. -They are bought by consumers frequently and with minimal comparison.

They are bought by consumers frequently and with minimal comparison.

In terms of packaging functions, Tiffany & Co.'s robin egg blue boxes ________. -create immediate consumer recognition -deemphasize the importance of labels -have created confusion in the marketplace -stifle brand awareness and recognition -are primarily used to hold and protect products

create immediate consumer recognition

Marketing, more than any other business function, deals with ----

customers

Which of the following is a function of an integrated marketing communications system?

delivering a clear, consistent, and compelling message on the product to each brand product

Studio 19 is a dance studio geared to adults who want to learn ballroom and Latin dance. When individuals call the studio, they're encouraged to access the website to receive a $25 e-coupon entitling them to a free half hour of dance instruction. Once they become patrons, text messages are sent to share news about featured dance instructors and upcoming special events. Which of the following promotion mix tools does Studio 19 employ to reach target customers?

direct marketing

Data collection, processing, and analysis are undertaken during which stage of the marketing research process?

implementing the research plan

Zappos recognizes the importance of the buyer-seller interaction. They only hire people with an innate "passion to serve" and they go through four weeks of customer loyalty training. This is referred to as ________ marketing.

interactive

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

internet-based surveys

A market segment is less attractive when---

it contains powerful suppliers who can control prices

A successful niche marketing strategy relies on a firm's ---

knowledge of customer needs

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

marketing objective

Argonaut Food Stores, a retail giant, hires better-skilled employees than its competitors by employing strategic recruitment practices. It also conducts highly specialized training programs for its employees. In this case, Argonaut has focused on gaining a strong competitive advantage through ________ differentiation.

people

World Skies' Flight 167 takes off at 50 percent capacity. The unoccupied seats cannot be stored for later sale or use. This is an example of which service characteristic?

perishability

A toothpaste manufacturer that bands two products together, selling two for the price of one, is using which type of consumer promotion tool to build short-term sales?

price packs

Bose promises "better sound through research". This is an example of ---

product differentiation

When viewing the market from a buyers' point of view, "communication" corresponds to _______ component of the marketing mix

promotion

Karen Rogers is a salesperson for Solar Panels Inc. She attends builder trade shows to identify potential customers in an effort to build long-term profitable relationships. Karen Rogers is engaging in which step of the selling process?

prospecting

The presentation stage of the selling process most likely involves ________.

showing how a company's products can solve a customers' problems

The fastest-growing sales trend is ________ that involves the use of online, mobile, and social media to engage customers, build stronger customer relationships, and augment sales performance.

social selling

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

target marketing

________ use the phone, Internet, and social media to find new leads, learn about customers and their business, or sell and service accounts directly.

telemarketers and online sellers

Which of the following demonstrates the real value of a company's marketing research and information system? - the tools it uses to gather information -the type of sampling plan it follows the variety of contact methods it uses -The amount of data it generates - the customer insights it provide

the customer insights it provide