MArketing Test 1
Which of the following is likely to slow the adoption of a new technology?
Conceptual complexity
The most basic determinant of a person's wants and behavior are embedded in a consumers __________.
Culture
Nielsen gathers consumer insights through a variety of ways, including consumer tracking and panels. Which type of research is Nielsen engaged in during these examples?
Online Marketing Research
Eskimo Joe's food, logo products, and overall experience keeps customers loyal and coming back time and time again. Such customer loyalty increases __________________.
Customer Lifetime Value
In analyzing a company's current business portfolio, what is management's first step?
Identify strategic business units
The ultimate goal of the marketing process is to do which of the following?
Receive value from customers
Which of the following is NOT one of the typical advantages of e-procurement systems?
Improving customer-supplier relationships
Which of the following would be good advice for someone conducting marketing research in a foreign country?
Reaching respondents in other parts of the world is more difficult than it is in the United States.
How does the new concept of marketing differ from the old concept of marketing ("telling and selling")?
The new concept focuses on customer needs.
______________________ determines if a buyer is satisfied or dissatisfied with a purchase.
The relationship between the consumer's expectations and the product's perceived performance
What is the main problem that sellers suffering from marketing myopia face?
They focus more on products than on the customer's underlying need.
What is MOST likely to cause a variation in customer-perceived value?
The customer's opinion of what constitutes value
Which of the following BEST describes the purpose of customer insights?
To create more value for customers
Why is it important for a company to collect both primary and secondary data when conducting marketing research?
To have a "full picture" of the subject of its study
Which of the following is enhancing how marketers learn about and interact with customers?
Big Data and Marketing Analytics
The third purpose of government regulation is to _____________________.
protect the interests of society against unrestrained business practices
Which of the following describes the type of research used to help define the research problem and suggest hypotheses?
Exploratory Research
The role of a company's marketing intermediaries is to do which of the following?
Help the company find, promote, sell, and distribute products
An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO MOST likely to do as a function of his or her job?
Inform customers of the company's privacy policy
IMG World provides college students with new, relevant media, making which stage of the consumer buyer behavior process easier for the consumer?
Information Search
How has the internet MOST affected companies and customers?
The internet has allowed consumers to take marketing content and share it.
To exercise social responsibility, many companies are linking themselves to what type of marketing?
Cause-related
Eskimo Joe's is an important part of the community, including customers' lives and customer involvement, which indicates Eskimo Joe's is involved in _________________.
Customer Engagement Marketing
A purse company's ads feature the members of a popular housewives reality show. Product sales increase significantly among fans. From fans' viewpoint, the housewives reality show is a ______________.
reference group
Which of the following scenarios BEST describes the societal marketing concept?
Edward's Earthware attempts to make its pottery in a way that satisfies customers but is also environmentally friendly and sustainable over the long term.
Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six years, sales have continuously declined and profits have almost completely disappeared. The owner of Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to Tina's Tunes?
Tina's Tunes is likely to fail because it is ignoring the technological environment.
he major cultural values of a society are expressed by people's views of ____________________
themselves, others, organizations, society, nature, and the universe
The owners of Eskimo Joe's understand the customers' needs and wants by sensing and responding to those needs, indicating that Eskimo Joe's assumes which philosophy?
Marketing Concept
Kevin Kern described Konica/Minolta's use of commercials, newspapers, social media, and other media to control the marketing message. Which marketing concept was he referring to?
Marketing Mix
Selling and advertising are part of a larger set of marketing tools that work together to satisfy customer needs and build customer relationships known as ________.
Marketing Mix
Konica/Minolta hopes to create customer value through its mission, strategic goals and objectives, marketing mix, and other marketing tools. This collective effort is known as Konica/Minolta's __________.
Marketing Strategy
_________ refers to the practice of integrating ethnic themes and cross-cultural practices within a company's mainstream marketing.
Total market strategy
Nielsen is engaged in the collection and analysis of information about consumers, competitors, and developments in the marketplace. This systematic monitoring is known as __________.
competitive marketing intelligence
The real value of marketing information rests in the _____________________.
customer insights it provides
A new hardware company is writing its mission statement. Which of the following is the BEST mission statement possible for the new company?
We will help customers build, invigorate, restore, refurbish, or completely redesign their homes or businesses.
Nguyen's Sporting Goods is having difficulty obtaining the credit it needs to expand. What should the company do in order to alleviate its financial situation?
Work out a plan with its financial intermediaries
After creating a company's mission and objectives, the executive team must then plan ____________ by keeping in mind the best fit for its strengths, weaknesses, and opportunities in the environment.
its business portfolio
A popular football player at a college who is able to influence the buying decisions of fans would best be described as a(n) __________.
opinion leader influence
How does the microenvironment of a company differ from its macroenvironment?
The microenvironment deals with the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
Which of the following includes shortages of certain raw materials, higher pollution levels, and more government intervention?
The natural environment
What is the importance of selling and advertising in marketing?
They work in tandem with building customer relationships.
Why is good marketing management critical?
To ensure that the company serves as many customers as it can and as well as it can
What is the purpose of the marketing mix as part of the overall marketing strategy?
To produce a response that influences a demand for the product from the customers the company is targeting
What is the ultimate aim of customer relationship management?
To produce high customer equity
Which of the following correctly describes customer purchases, sales force contacts, service and support calls, web and social media site visits, satisfaction surveys, credit and payment interactions, and market research studies?
Touch Points
A marketing dashboard is used to do which of the following?
Monitor strategic marketing performance
When consumers respond in a similar way to a given set of marketing efforts, they can be referred to as a _________.
A Market Segment
A power tool company wants to give its customers access to internal, nonpublic information about how best to use its product in creative ways. What should the company create to provide customers with this information?
A company extranet
Proactive businesses often take aggressive actions to affect consumers and the forces in their marketing environments. Which of the following does NOT depict a proactive company?
A local restaurant refusing to counter false allegations of salmonella
What is the nature of demand in business markets?
Demand in business markets is derived demand.
A marketer who wishes to gain insight into the demographics and attitudes of consumers who buy their product would likely ask Nielsen to perform which type of research?
Descriptive Research
Julie's Jump Rope Emporium is a new company. From a marketing standpoint, what is the FIRST thing Julie's Jump Rope Emporium needs to do?
Determine who in the community wants or needs a jump rope
Prior to changing its product offerings and realigning its business units, managers at Konica/Minolta most likely first performed which of the following to determine those units that were profitable and those that should be phased out or realigned?
Perform a portfolio analysis.
To create value for customers, marketers must improve the performance of the ______________, which includes partnering with suppliers, distributors, and customers.
Value Delivery Network
When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________.
generating person-to-person brand conversations
Which of the following is NOT one of the four Ps of the marketing mix?
Production
What is the first step of the buyer decision process?
Need Recognition
Which of the following is NOT one of the marketing management functions?
Promoting
o be successful, why should companies try to adopt a proactive stance on marketing?
A proactive stance allows a company to take advantage of opportunities as they arise.
IMG World's products and services are geared toward colleges and students, the students of which may be considered young achievers. This designation can be best described as which influential factor of consumer buying behavior?
Age and life stages
The act of obtaining a desired object from someone by offering something in return is known as which of the following?
An Exchange
Calvin's Cupcakes is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST path for this company to start to develop an efficient MIS?
Assess the information needs of the company
Scott Frost has been coming to Aldwin's Diner for 20 years and refuses to go anywhere else. Joseph, the owner of Aldwin's, loves Scott's loyalty but admits he purchases only a cup of coffee at each visit. Scott would BEST be described as which of the following?
Barnacle
Which types of companies would most benefit from conducting marketing research?
Both large multinational firms like Disney and IBM and small local firms
How do the individual components of a SWOT analysis work together to determine the status of a company?
By ascertaining a company's strengths, relating them to opportunities, minimizing weaknesses, and identifying threats to growth and development
Which of the following refers to the degree to which an innovation fits the values and experiences of potential consumers?
Compatibility
Which of the five characteristics identified has an inverse relationship with an innovation's rate of adoption, meaning as this characteristic increases, the rate of adoption is slower?
Complexity
Bertram's Beer structures its company in such a way as to encourage its most profitable older customers to remain loyal while also targeting a new generation of customers. What is Bertram's Beer attempting to build?
Customer Equity
Nielsen gathers data on millions of people to help marketers gain __________ to use to create strategic marketing decisions.
Customer Insights
Which marketing philosophy holds that consumers will favor products that offer the most in quality, performance, and innovative features?
Product Concept
Eskimo Joe's offers food, spirits, and logo merchandise to customers, who in turn, offer Eskimo Joe's money. What is this relationship known as?
Exchange
Under the previous CEO, Konica/Minolta's management determined it was time to invest in __________ by offering new products to the technology market.
Product Development
You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In exchange, you receive a small payment. You are participating in a(n) ________.
Focus Group
Asher Airlines instituted a marketing program whose intent is to create a relationship with customers with seat upgrades and free miles for their continued patronage. What customer relationship tool is Asher Airlines using?
Frequency marketing program
__________________ is a group numbering 55 million or more consumers and sometimes is an overlooked "in-between" consumer group because it is both smaller and less materialistic than other groups and prizes experience, not acquisition.
Generation X
Students purchasing items with the college logo most likely represent consumers involved in which type of buying behavior?
Habitual
Which of the following describes the current trend in businesses regarding relationships with customers?
Hand-pick the most profitable customers and allow them more input.
What are stars in the growth-share matrix?
High-growth, high-share businesses or products
A value chain consists of which of the following?
Internal departments and other companies that carry out value-creating activities
Marketers obtain needed marketing information from which of the following?
Internal data, marketing intelligence, and marketing research
Of the following, which best reflects how the American population has changed over time?
It has become more diverse, better educated, and more mobile.
Which of the following statements regarding the business market is correct?
Many sets of business purchases are made for one set of consumer purchases.
A local drama club wants to increase the membership and attendance at its performances. To do so, it hosts free shows, starts poetry-reading nights, and sends volunteers to the local high school. What is the drama club engaging in?
Market Exchange
In addition to selling food, drink, and a variety of items that feature its popular logo, Eskimo Joe's offers its customers a valuable experience, known as its ______________.
Market Offering
Konica/Minolta focuses one of its business units on medical and healthcare groups. These groups make up one of Konica/Minolta's __________.
Market Segment
Denim Blue Jean Corporation is a growing company located in Washington State, but it is beginning to develop a presence in the surrounding states as well. It sells only one productlong dash—blue jeanslong dash—but it has 12 different lines of jeans that cater to men, women, children, babies, toddlers, and teens. Which type of marketing department organization would BEST suit Denim Blue Jean Corporation?
Market management organization
___________consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.
Marketing Analytics
How do market demands relate to needs and wants?
Needs are satisfied by wants, and buying power converts wants into demand.
Sanchez Hispanic Foods and Seasonings has started to grow larger than the Sanchez family could ever have imagined. The company is having a hard time keeping track of all of the business' marketing activities. They know that they are going to need help to keep the business growing and are looking for solutions. Which of the following potential hires is likely the best decision for the Sanchez family?
Noah Lopez, a marketing specialist and expert who would be hired as the Sanchez family's new chief marketing officer
Vaughn's Video has suffered because more people are subscribing to online streaming sites such as Netflix, YouTube, iTunes, Amazon, and Hulu. Which of the following marketing trends has NOT affected Vaughn's Video?
Not for profit Marketing
All of the following are aspects of sustainable marketing EXCEPT which one?
Observe environmental legislation as it is instituted.
Which of the following needs in Maslow's hierarchy is generally satisfied first?
Physiological needs
The specific data that Nielsen provides to its clients for a specific purpose that has not been completed before, is most likely which type of data?
Primary
Beverly's Burgers came under fire recently when allegations were made that its veggie burgers were actually made with beef. To counter the claims, the restaurant called in a company to test not only its veggie burgers, but also the rest of its vegetarian options to prove they lacked meat. The results were displayed publicly on the restaurant's Facebook page. What BEST describes Beverly's Burgers' response to the allegations?
Proactive
The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the first stage in this process?
Problem recognition
Which of the following information must a researcher evaluate to make certain it is relevant, accurate, and impartial?
Secondary
Ethel and Jan have just started a new company, Jantel, Inc., and are having trouble deciding which marketing path to take to drive sales. Ethel believes they should follow a make-and-sell philosophy that focuses on improving their product, whereas Jan believes they should be more customer-oriented and find the right products for their customers. Which of the following BEST describes this situation?
Should Jantel, Inc., follow a product or marketing concept?
Which of the following is NOT part of an overall SWOT analysis evaluation of a company?
Strategy
There have been dramatic changes in the political environment that affect marketing. Which of the following does NOT represent one of those changes?
Strong emphasis on free trade and open borders
________________ is one problem with business-to-business e-procurement
Suppliers being pitted against one another
When a company chooses a group of customers to serve, it is engaging in which of the following?
Target Marketing
Chicago's Best Pizzeria has been operating on the north side of Chicago for more than 30 years. Its target market includes young urban professionals who want new-style organic pizzas with exotic ingredients. However, in recent years, the population in the pizzeria's neighborhood has been shifting, and now fewer young urban professionals live there. The population has grown older and wants traditional pizza, not pizza with exotic ingredients. Which of the following identifies the pizzeria's BEST response to this situation?
Target a new market with a different product.
___________________ consists of many different people who play multiple roles in the buying process.
The Buying Center
When a company starts the strategic planning process at the corporate level, it begins by _____________________________.
defining its overall purpose and mission
A company's marketing information system (MIS) is valuable because it ___________________.
enables a company to use customer insights to improve relationships with customers
