Midterm total, Ch.8 total

When marketers look at advertising media they often begin with viewer or listener profiles such as age, income, gender, and race. They then compare the media profile with their target audience. These marketers are using __________ to see if the media "fit" with their advertising agenda.

demographics

*** ON TEST *** Sales of electric components manufactured by Rick's company depend on sales of new cars. Rick's company faces __________ demand.

derived

Andrea and Karl got married a year ago and are ready to move out of their apartment and into a new home. After looking at several houses, they have developed a list of features that are important to them and that are different among the homes they have visited. The features on their list are called

determinant attributes.

The shared meanings, beliefs, morals, values, and customs of a group of people constitute their

culture

Amazon's latest attempt to shore up and enhance its competitive barriers by introducing a home service marketplace that may help it achieve a lasting, powerful advantage is an example of _______________ excellence.

customer

Many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. This is an example of

customer relationship management

Managers of Wendy's fast-food restaurants keep track of prices at competitors such as McDonald's, Burger King, and Arby's, knowing that a decrease in the prices at these other fast-food restaurants will

decrease demand for Wendy's products.

Which app pricing model is used by the app Candy Crush Saga? A. ad-supported apps B. freemium apps C. in-app purchases D. paid apps E. paid apps with in-app purchases

B. freemium apps

One measure of traffic from visitors on sites, the total requests for a page, is measured in units called A. clickers. B. hits. C. paths. D. tweets. E. impressions.

B. hits

A firm's macroenvironment includes _____________ factors, which the marketer cannot _______________.

external; control

When you go to the hospital for an operation, you are the decider in the buying process.

false

How is the cost to companies and entrepreneurs using Google Analytics calculated?

free for everyone

Current research points to which pricing model for apps as the most effective?

freemium apps

Ryan knows that one of the goals of value-based marketing is to provide greater value to consumers than competitors offer. To accomplish this goal, Ryan's firm must look at everything it does

from a consumer's point of view.

What is the focus of a firm that develops a relational orientation with its customers?

gaining lifetime profitability from customer relationships

During the introduction stage of a product's life cycle, typical consumers are

innovators.

When marketers state that services are __________, they are referring to the fact that services are produced and consumed at the same time.

inseparable

Because services are __________, it is often difficult for marketers to convey the benefits to consumers. substantial

intangible

The CEO of David's firm just came back from a business seminar. He called David into his office and stated, "I just found out about the product life cycle curve in a strategy seminar. This is a great tool. I want you to drop whatever you're doing and inventory all of our products to determine exactly where they are in the product life cycle." David needs to think fast for a good answer because he knows that

it is often impossible to identify with precision where a product is in the product life cycle.

Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following except

performance.

3M involves its customers in the process of developing new products. In this way, it can benefit from current customers' insights and develop new products that will meet these customers' needs. 3M is pursuing a __________ growth strategy.

product development

In most companies, portfolio management is typically done at the SBU or ___________ level of the firm.

product line

Marketing involves all of the following except

production scheduling.

Melanie works for a small computer software company. Her boss is constantly improving the company's products but neglects customers, billing, and promoting the company. Her boss is probably stuck in the __________ era of marketing.

production-oriented

Caroline is assessing market growth, market competitiveness, and market access for each segment she has identified. Caroline is assessing the __________ of each potential market segment.

profitability

A firm makes generous donations to charities, but its employees are always being scrutinized for engaging in questionable sales practices. This firm would be considered

unethical but socially responsible.

In the Circles for a Successful Value Proposition framework, the portion of the customer needs/wants circle that doesn't overlap with anything else represents

unmet customer needs/wants.

When a salesperson calls you to sell a cemetery plot, this is most likely what type of product?

unsought product

Unlike manufacturers, __________ buy products from other businesses but do not significantly alter the form of the products they buy before selling them.

resellers

Monique was looking for a venue for her wedding reception. When she visited one potential location, she noticed that the landscaping was not complete, and there was stained carpet in the lobby. Which of the service quality building blocks caused Monique to select an alternative venue?

tangibles

Which of the following is NOT an important trend, as outlined in your text, that marketers must monitor in the macroenvironment?

red/blue marketing in election years

Which of the following is NOT a macroenvironmental factor?

the firm's competitors

Manufacturers would prefer to produce in a country with a trade __________, because it signals a greater opportunity to export products to more markets. A. surplus B. deficit C. discrepancy D. bonus E. balance

A

Many of the best-known American retailers, like Starbucks and McDonald's, have contractual agreements with another firm or individuals, allowing its businesses to operate overseas. These companies expanded globally using A. franchising. B. exporting. C. joint ventures. D. direct investment. E. strategic alliances.

A

According to your text, the wealthiest 1 percent of the population control approximately what percentage of Americans' total net worth?

34.6 percent

Sometimes consumers have second thoughts after buying goods that are expensive, infrequently purchased, or associated with a high level of risk. This is an especially critical time for marketers, as their customers are dealing with A. criteria reevaluation. B. buyer's remorse. C. competitive leverage. D. purchase uncertainty. E. consumer vulnerability.

B. buyer's remorse

A(n) __________ is a need or want strong enough to cause a person to seek satisfaction. A. locus of control B. motive C. attitude D. perception E. learning curve

B. motive

After conducting STP analysis for her custom auto parts store and developing strategies for each of the four Ps, Monique now has to make _____________ decisions. A. competitive response B. resource allocation C. market growth D. product line E. mission statement

B. resource allocation

When analyzing the immediate environment and the macroenvironment, marketers must be careful to keep the firm at the center of all analyses.

F

Marketers are more likely to find higher concentrations of foreign-born Americans and recent immigrants in

New York, Los Angeles, San Francisco, and Chicago.

In countries like the United States, services

account for an increasing share of jobs.

Which of the following is a pricing model for apps discussed in your text?

ad-supported

In the case of Band-Aid adhesive bandages, the brand name has

become synonymous with the product itself.

As it relates to marketing, the trade of things of value between the buyer and the seller so that each is better off as a result is known as an exchange.

T

Badger Hardware was planning on raising the pay of its managers, but not its frontline employees. To determine the potential ethical issues, it should first identify the issues involved so that it can gather facts related to those issues.

T

Organizational culture may vary by geography.

T

The 1890 Sherman Antitrust Act prohibits monopolies and other activities that would restrain trade or competition and makes fair trade within a free market a national goal.

T

The greater the difference between a consumer's unsatisfied need and the desired state, the greater the need recognition will be.

T

To maximize potential, segments and target markets can and should be defined by more than just geography.

T

eHarmony used metrics such as the bounce rate to understand what its clients want, both in a service provider and in a mate.

T

To become a more value-driven organization, Pokrah University is holding regular coffee-hour discussions with its students and surveying its graduates regarding students' educational needs and desires. By doing so, Pokrah University is becoming more value driven through

building relationships with customers.

________ is concerned with distinguishing between right and wrong actions and decisions that arise in a business setting.

business ethics

Shell MasterCard, created cooperatively by Shell Oil Company and MasterCard, is an example of

co-branding

What feature unique to Google+ lets people interested in similar topics form their own groups?

communities

A firm's macroenvironment includes all of the following except

competition.

The perceptions of __________ are being measured in a perceptual map.

consumers

During which phase of the strategic marketing planning process are managers evaluated on their actions from a conscious marketing perspective?

control

Which of the following analytics is used to measure sales, downloads, video plays, or other actions important to a firm?

conversion

Every time a consumer surfs the web and clicks on a site, online marketers can place _____ on that user's computer, showing them where the user starts, proceeds, and ends the online encounter—as well as what the user buys and doesn't buy.

cookies

Sydney's Emporium has 59 stores in the United States and wants to expand globally. Sydney's wants to achieve the highest possible returns, and is not concerned about pursuing a high-risk strategy as long as it maintains complete control over its stores. The best global entry strategy for Sydney's is most likely A. exporting. B. a strategic alliance. C. a joint venture. D. direct investment. E. franchising.

D

According to purchasing power parity theory, if __________ is(are) in equilibrium, products will cost the same in each country. A. imports and exports B. consumer spending C. interest rates D. domestic products E. exchange rates

E

What is Google+?

a social networking site

For which of the following is demand likely to be most sensitive to price increases?

a specific brand of soft drink

Exchange control refers to the regulation of a country's A. comparative inflation rate. B. countertrade exchange. C. quota rate of exchange. D. exchange tariffs. E. currency exchange rate.

E

Which element of the marketing mix deals with supply chain management? A. Product B. Price C. Promotion D. Production E. Place

E. Place

Karen has identified four potential market segments for her Rent-A-Chef home meal catering service. She will now evaluate whether or not each segment is attractive relative to all of the following except A. substantial. B. responsive. C. profitable. D. reachable. E. realistic.

E. realistic

As director of a small art gallery, one of Frederica's major concerns is the preferences of the people who buy her artists' work. Frederica recognizes that the center of her marketing efforts is

her target customers.

One measure of traffic from visitors on sites, the total requests for a page, is measured in units called

hits

Ryan believes he is responsible for his actions, and he will conduct extensive searches before making a purchase. Michael's favorite phrase, when confronted by the need to make a decision, is "Whatever." In marketing terms, Ryan is said to have a(n) __________ and Michael, a(n) __________.

internal locus of control; external locus of control

Although marketers have found that psychographics are often more useful for predicting consumer behavior than demographics, psychographic segmentation

is a more expensive method for identifying potential customers.

In questionnaire design, a question such as "When was the first time you went to a dentist?"

is a question that respondents cannot easily or accurately answer.

From a firm's perspective, the biggest advantage of RFID is

it enables the firm to track an item from the moment it was manufactured.

Darren has developed a better type of medication vial for travelers. He is not sure how to develop a marketing program for his product, as there are a few similar ones on the market. What technique can Darren use to analyze data from his competitor's websites, particularly to learn how people search for similar products online?

keyword analysis

Bob and George live in the United States. Bob recently asked for George's cell phone number, but George said he didn't own a cell phone. George would probably be considered a(n) __________ in the diffusion of innovation process.

laggard

When Ben evaluated the commercial infrastructure in Mauritius, he considered the island's

legal, banking, and regulatory systems.

Generally, firms entering foreign markets begin with

less risky strategies first.

To build relationships, firms focus on the ___________ of the relationship, not how much money is made during each transaction.

lifetime profitability

Companies can find out a lot about customers using sentiment analysis on sites like Facebook and Twitter, or put another way, by

listening

Facebook's Ad Manager offers various metrics and reports, such as number of clicks on ads, audience demographics, and ad performance for specific time periods. This information would be used in which step of developing a social media campaign?

monitor and change

Paul subscribes to an Internet service that alerts him whenever other firms in his industry are quoted in the media. Paul is using this type of marketing research primarily to

monitor his competitors.

With access to the Internet nearly universal in the United States, many potential market segments have become more

reachable

The shift of population from the Rust Belt in the North to the Sun Belt in the South and Southwest will likely

reduce regional cultural differences.

A wholesaler is an example of a

reseller

When Starbucks first opened, many critics suggested, "No one will pay $4 for a cup of coffee." Starbucks's critics suggested consumers would not be __________ to the company's offerings.

responsive

Private-label brands are developed and managed by

retailers.

Your text notes that the networking benefits of LinkedIn are particularly beneficial for which group?

small-business owners

Which of the following is most likely to be characterized by pure competition in the United States?

soybeans

Marketing enriches society by

sponsoring charitable events

After assessing the market growth potential in Mexico for his company's baby products, Harmon wanted to evaluate market competitiveness. To do this, Harmon would consider

the number of competitors, entry barriers, and product substitutes.

Julia's is an upscale women's clothing store. Prices are based on customers' beliefs about the value of the clothing. The store focuses on a limited target market and provides excellent customer service. Julia's is using a _______ pricing strategy.

customer-oriented

When the Big Chip company reduced the amount of sugar in its chocolate chip ice cream sandwiches, which stakeholder category was this effort targeting?

customers

Marketers can take advantage of the variable nature of services by

customizing services to meet customers' needs exactly.

Beer marketers know that high-school educated, working-class males from the ages of 25 to 40 make an attractive market for their products. This is a __________ segment of the beer market.

demographic

Lionel is asked to conduct an STP analysis for his firm. The first step he should perform in this analysis is to

divide the marketplace into subgroups

To ensure that conscious marketing is infused into all levels of the firm, it can be integrated into

each stage of the marketing plan.

Robin recently bought Voice over Internet Protocol (VoIP) phone service. A few of Robin's friends bought VoIP before she did, but many other friends were interested in Robin's opinions of the new phone service. Robin is a(n) __________ in this product category.

early adopter

Break-even analysis is useful because it allows managers to

estimate the quantity they will need to sell at a given price to break even.

A demand curve is built on the assumption that

everything but price and demand remains the same.

If a firm wants to develop a sustainable competitive advantage, it should

examine its operations and customer relations to identify significant things competitors cannot easily copy.

The difference between a firm's immediate marketing environment and its macroenvironment is that the macroenvironment is

external.

Many of the best-known American retailers, like Starbucks and McDonald's, have contractual agreements with another firm or individuals, allowing its businesses to operate overseas. These companies expanded globally using

franchising

The "onboard, online retail business" refers to

the options airlines offer passengers to shop through their mobile devices while they fly toward their destination

Zappos.com, an online shoe store, offers an easy, no-hassle return procedure. This relates to the _______ of its products.

trialability

Consultative buying centers use one person to make a decision but solicit input from others before doing so.

true

At the end of a brainstorming session, participants are often asked to

vote on the best ideas.

When Val sees the RFP issued by one of his customers, he is concerned that the company has changed its specifications since it placed a previous order with him. His company's products do not meet the new specifications. In this situation, being the current vendor

will probably not be an advantage in getting the new order.

Part of the social trend toward health and wellness is a concern about the increasing degree of obesity in the United States. Related to this, the text notes the increasing popularity of

yoga

Celia's firm has developed a breakfast cereal targeted toward children. Rather than compete in the mature U.S. market, she has decided instead to introduce the product in Europe, where she feels it will be innovative. Her advertising agency urged caution because A. advertising regulations differ in other countries, including advertising to children. B. print media are different in Europe, and it would be difficult to create a global campaign. C. literacy rates are significantly lower in Europe, and print ads would be ineffective. D. research indicates that European children do not eat breakfast as often as American children. E. domestic advertising agencies cannot earn commissions on advertising they place overseas.

A

China has three main languages, and many more dialects. This presents a particular challenge to developing a global ________ strategy. A. communication B. product C. cultural D. distribution E. pricing

A

Franco, a former retailer, has been living in the United States for five years and wants to start a business. He does not have an existing firm or a product, and he doesn't have a lot of capital, but since he loves McDonald's food, he decides to A. open a McDonald's franchise. B. directly invest in McDonald's. C. export McDonald's products to other countries. D. form a strategic alliance with McDonald's. E. form a joint venture with McDonald's.

A

Gerald is assessing global entry strategies for his gourmet sandwich business. He does not want to take a lot of risk and he is willing to limit his control of international stores. Gerald will most likely use a(n) __________ strategy. A. franchising B. exporting C. joint venture D. direct investment E. strategic alliance

A

Global marketers typically find distribution in developing countries is more complex because A. they must go through many different types of distribution channels. B. distribution is more heavily regulated in developing countries. C. most consumers in developing countries live in densely populated cities. D. the infrastructure is more advanced in most developing countries. E. consumers in developing countries have very specific preferences.

A

Global segmentation, targeting, and positioning (STP) are more complicated than local STP, in part because A. consumers may view their roles differently in different countries. B. there are fewer franchising opportunities in global markets. C. global consumer markets are almost totally homogeneous, making segmentation difficult. D. most governments have rules against targeting consumers. E. positioning almost always fails when attempted in a foreign country.

A

Graham had developed an extremely successful advertising and promotion campaign for a client in the United States. The client wanted to roll out the same campaign to markets worldwide, but Graham cautioned against doing this, most likely because A. differences in languages, customs, and culture might make the campaign meaningless and ineffective in some markets. B. copyright and intellectual property concerns prevented him from wanting to share his good ideas outside of the U.S. market. C. he had not applied for or received international certification that was required for working outside the United States. D. he was unfamiliar with the code of ethics for advertising in other countries. E. he did not have the budget for a global rollout.

A

In China, state control of media is high, so companies are challenged to find ways to get their message to customers. This demonstrates one of the difficulties in crafting a global ________ strategy. A. communication B. product C. cultural D. distribution E. pricing

A

Marketers considering operations and trade with a specific country must consider whether or not the country belongs to a trading bloc. A trading bloc is a group of countries A. that have established a formal agreement to manage trade activities. B. using the same currency. C. with similar cultural shopping patterns. D. located next to each other. E. with similar political views.

A

Tariffs protect domestic producers by A. making imported products more expensive. B. increasing brand recognition. C. reducing the cost of production. D. offering subsidies to exports. E. avoiding regulation.

A

The components of a global market assessment include all of the following except A. ethnic analysis. B. infrastructure and technological analysis. C. analysis of government actions. D. sociocultural analysis. E. economic analysis.

A

Once a firm has done an analysis of the most viable markets for its products, then it must next A. determine the competition and develop strategies to overcome it. B. conduct an internal assessment of its capabilities. C. conduct an external analysis of the target market's economy, culture, and regulatory barriers. D. develop a product to meet the needs of those markets. E. achieve success with the product in its home market.

B

Quitman Enterprises sells its business language dictionary to college students throughout the United States. Joseph Quitman, the owner, wants to start selling the book to international students abroad. Quitman wants to pursue a __________________ growth strategy. A. product proliferation B. market development C. market penetration D. diversification E. product development

B. market development

Both the B2B and B2C buying processes begin with A. central planning. B. need recognition. C. postpurchase dissonance. D. alternative evaluation. E. order specification.

B. need recognition.

Yvonne knows her firm must look at everything it does from a consumer's point of view. One major difficulty is that consumers' __________ change(s) over time. A. ethnic background B. needs, wants, and ability to purchase C. culture D. just-in-time processes E. demographics

B. needs, wants, and ability to purchase

The ________ situation usually involves more members of a buying center and involves more time to complete than the other buying situations. A. modified rebuy B. new buy C. adapted buy D. straight rebuy E. generic buy

B. new buy

Which of the following is the best example of corporate social responsibility affecting the marketplace?

An industry leader adopts environmentally friendly production practices and other companies in the industry follow suit.

Which of the following social media outlets would fall under the category of "thought-sharing sites"?

Anthropologie's blogs

According to Hofstede's cultural dimensions concept, which BRIC country posts notably high scores in the dimensions of uncertainty avoidance and power distance? A. Brazil B. Russia C. India D. China E. Iran

B

As part of efforts to stimulate economic development in Africa, the Gates Foundation announced that it would provide cellular phones to farmer cooperatives. The Gates Foundation recognized that problems in __________ exist in many African markets. A. transportation B. communication C. distribution D. commerce E. population

B

Gandolph's Tires sells the same tire globally, but it uses different advertisements based on the country and culture. This is an example of A. cultural shift. B. glocalization. C. ethnic sensitivity. D. promotional flex. E. unethical marketing practices.

B

Geert Hofstede's cultural dimensions concept focuses on six dimensions of __________ in a country. A. symbols B. underlying values C. buying patterns D. personality E. visible artifacts

B

Global expansion often begins with A. franchising. B. exporting. C. joint ventures. D. direct investment. E. strategic alliances.

B

In most cases, countries use tariffs to reduce foreign competition, but tariffs are also used A. to shorten supply chains. B. as a response to perceived unfair trade practices. C. to offer domestic discounts. D. to stimulate consumer demand. E. as a way to equalize quotas.

B

Of the five strategies for entering new markets, direct investment creates the A. least investment cost. B. greatest potential risk. C. most franchisee control. D. best opportunity for strong strategic alliances. E. greatest coordination of efforts of global and local partners.

B

A differentiated targeting strategy can allow a firm to obtain a bigger share of the overall market; this strategy A. is the cheapest option. B. requires the use of advanced advertising techniques. C. rarely works. D. is likely more costly than an undifferentiated strategy. E. is ineffective without multiple brand names.

D. is likely more costly than an undifferentiated strategy.

Companies can find out a lot about customers using sentiment analysis on sites like Facebook and Twitter, or put another way, by A. reacting B. exciting C. engaging D. istening E. educating

D. listening

To determine how attractive a particular market is using the BCG portfolio analysis, __________ is(are) established as the vertical axis. A. competitive intensity B. sales dollars C. market size D. market growth rate E. market profit potential

D. market growth rate

Katy has naturally curly hair and has often been disappointed with the haircuts she has received. When she moved to a new town, she approached her new office mates and several strangers with curly hair and asked them where they had their hair cut. She chose to spend considerable effort finding a new hair stylist based on the ________ associated with her purchase decision. A. evoked set B. reference group C. physiological risk D. performance risk E. financial risk

D. performance risk

After Hurricane Katrina, many states reevaluated their coastal area building requirements. These new building codes represented __________ that building materials companies used to develop new products. A. derived demand B. initiator instructions C. determinant products D. product specifications E. focal alternatives

D. product specifications

After need recognition, a business develops ________ that suppliers might use to develop their proposals. A. derived demand B. initiator instructions C. determinant attributes D. product specifications E. focal alternatives

D. product specifications

Laura has an almost-new economy car, but she wants a Ford Mustang because she thinks it would be exciting to own one. If she decides to purchase a sports car such as the Mustang, she will be primarily fulfilling a __________ need. A. functional B. postpurchase C. safety D. psychological E. functional and psychological

D. psychological

Upscale men's and women's clothing stores like Nordstrom, Neiman Marcus, or Saks Fifth Avenue are more likely to appeal to consumers' ________ needs. A. functional B. postpurchase C. safety D. psychological E. situational

D. psychological

College students can be a less __________ market segment because students' media habits are quite diverse and firms might have to use a wide variety of media to attract this segment. A. substantial B. perceptive C. identifiable D. reachable E. quantifiable

D. reachable

During the __________ era, firms had excess capacity and used personal selling and advertising to generate customers. A. retailing-oriented B. production-oriented C. market-oriented D. sales-oriented E. value-based marketing

D. sales oriented

Which of the following global entry strategies is being used if a company collaborates with a competitor on a globally based opportunity for mutual benefit, but the competitors do not invest in each other? A. franchising B. joint venture C. strategic alliance D. direct investment E. equity partnership

C

Which of the following is not one of the major trade agreements affecting global marketing? A. NAFTA B. EU C. GNI D. ASEAN E. CAFTA

C

Which statement about India's population is true? A. With a median age of 61, India has one of the oldest populations in the world. B. India's young people mostly live in rural areas in large families. C. India's workforce is highly skilled, particularly in technology. D. India claims more than 25 percent of the world's population. E. Most Indian citizens shop in large retail outlets.

C

Your text notes that global markets are the result of several fundamental changes. Which of the following is not one of those changes? A. reductions or eliminations of trade barriers by governments B. decreasing concerns of distance and time with regard to moving products across countries C. declining fuel costs allowing cost-effective shipping to global markets D. the standardization of laws across borders E. globally integrated production processes

C

hy should marketers be aware of the BRIC countries? A. They are a microcosm of the rest of the world. B. They represent almost half the world's population. C. They are likely to be the source of most market growth. D. They have the most dramatic changes in culture and consumer buying patterns. E. They have stable population growth, which makes them easier to study. The four BRIC nations are likely to be the source of most market growth

C

Late in the day on September 11, 2001, the day of the World Trade Center attacks, Americans purchased all the American flags Walmart stores had available, nationwide. These purchases were indicative of A. regional culture. B. generational cohort characteristics. C. country culture. D. a red/blue marketing campaign. E. the Walmart Effect.

C. country culture

In a modified rebuy situation, ________ are likely to have an advantage in getting the order. A. consumers B. resellers C. current vendors D. gatekeepers E. new vendors

C. current vendors

Psychographics is the segmentation method that delves into how consumers A. adjust to demographic changes. B. allocate scarce incomes to a variety of goods and services. C. describe themselves. D. value their livelihoods. E. believe other people see them.

C. describe themselves.

Marketers are particularly interested in postpurchase behavior because it A. involves both compensatory and noncompensatory consumers. B. offers insights into information search methods. C. avoids situational conflicts. D. involves actual rather than potential customers. E. involves both actual and potential customers.

D. involves actual rather than potential customers.

The basic difference between a good and a service is that a good

can be physically touched.

When Olga took over as facilities manager for Burlington Furniture Manufacturing, she was shocked to see the factory was still heated with a coal-fired boiler. She made an immediate decision to upgrade the heating system to something more efficient, and began to research available options. For Olga and Burlington Furniture, this represented a(n) ________ situation. A. adapted buy B. modified rebuy C. straight rebuy D. generic buy E. new buy

E. new buy

Firms achieve ___________ through efficient procedures and excellent supply chain management. A. customer excellence B. locational excellence C. customer loyalty D. value-based pricing E. operational excellence

E. operational excellence

Which element of the marketing mix is most relevant to the activity "delivering value"? A. promotion B. purchasing C. product D. price E. place

E. place

Regina wants to position her financial services company. Regina can position her services according to all of the following except A. the value proposition. B. product attributes. C. symbols. D. competitive comparisons. E. profitability.

E. profitability

There is a saying "Never go to the grocery store hungry." This saying suggests that a consumer's ________ state may adversely affect purchasing decisions. A. shopping B. social C. theoretical D. external E. temporal

E. temporal

Consumers' privacy concerns led to enactment of the

Federal Trade Commission's Do Not Call registry.

The most common measure of market potential of an economy is a country's

GDP

Tweens are part of which generational cohort?

Generation Y

All of the following questions might be used on an ethical decision-making metric except

How much money could I make from this action?

Which of the following statements best describes secondary data?

Secondary data are pieces of information that have been collected prior to the start of the focal research project.

Marketing ethics can involve societal issues such as the sale of products or services that may damage the environment or global issues such as the use of child labor.

T

Stewart wanted to impress Jan with the perfect engagement ring. He had been saving money for months, and he noticed his attitudes and perceptions about diamond rings changing as he began paying attention to ads for rings. Marketers call this process A. consumer confidence building. B. self-actualization. C. a decision rule. D. reducing prepurchase dissonance. E. learning.

E. learning

When Mr. How, a Pennsylvania-based discount lumber and hardware chain, sent snow blowers to its Augusta, Georgia, store in April, it was engaged in A. concentrated segmentation. B. geodemographic segmentation. C. benefit segmentation. D. psychographic segmentation. E. misguided geographic segmentation.

E. misguided geographic segmentation.

The consumer buying process begins when

a consumer recognizes an unsatisfied need.

Fordham Hardware is known for its consensus buying center culture. Recognizing this corporate culture, someone attempting to sell to Fordham Hardware should

attempt to facilitate the collective agreement of all members of the buying center.

Bob Roberts founded Robertico, an equipment leasing company, three decades ago. Although he is now in his seventies, he still has a "hands on" management style. His employees have learned that there isn't much point in making purchase recommendations for new equipment, because Bob is going to choose whatever he thinks is best regardless of their views. Robertico has a(n) __________ buying center culture.

autocratic

Globalization refers to the processes by which goods, services, capital, people, information, and ideas A. are onshored and offshored. B. flow across national borders. C. are integrated through IMF facilitation. D. are similar in various markets. E. affect corporate culture.

b

Alex decides to make a donation to the Autism Research Institute. Which component of Alex's attitude toward autism research does this represent?

behavioral component

Which of the following is true of marketing?

Marketing affects various stakeholders

Jacob rents rooms in his hotel for an average of $100 per night. The variable cost per rented room is $20, to cover maid service and utilities. His fixed costs are $100,000 and his profit last year was $20,000. For Jacob, the contribution per unit is

$80.

Unilever discovered that people in emerging economies could not afford to buy standard sizes of toothpaste or shampoo, so Unilever started selling single-serve packets at very low prices. Later, Unilever discovered that the same approach worked in the United States and started also selling them there. This is an example of A. reverse innovation. B. glocalization. C. ethnic sensitivity. D. promotional flex. E. unethical marketing practices.

A

When a company decides to minimize risk and enter a global market by shipping its products to buyers in other countries, this is known as A. exporting. B. franchising. C. a strategic alliance. D. a joint venture. E. direct investment.

A

When entering into a franchise agreement, what term is used to refer to the firm that is granted the right to operate a business using the franchise name and business concept? A. franchisee B. franchisor C. franchise agent D. franchise partner E. franchised owner

A

When shopping for a car you notice a significant price gap between domestic and imported cars, with the imported cars being much more expensive. This could be the result of A. a tariff. B. a boycott. C. overseas consolidation. D. globalization. E. franchising.

A

When the value of the dollar declines in relation to other currencies, it benefits U.S. marketers who A. export goods to other countries. B. import goods from other countries. C. engage in countertrade. D. enforce import quotas. E. outsource labor.

A

Which of the following best describes the direct investment global entry strategy? A. With direct investment, a firm maintains total ownership of its plants, operation facilities, and offices in a foreign country. B. Direct investment occurs when a firm enters a new market by pooling its resources with those of a local firm to form a new company in which ownership, control, and profits are shared. C. Direct investment refers to depositing payroll funds in a foreign bank. D. Direct investment designates the maximum quantity of a product that may be brought into a country during a specified time period. E. Direct investment occurs when a producer sells its offering in a foreign market at a price less than its production cost.

A

Which of the following is a potential negative factor for foreign investment in China? A. China's population is aging rapidly. B. China drastically restricts the goods it allows U.S. companies to export to China. C. China's standard of living has dropped over the past 30 years. D. China has imported fewer goods from the United States each year for the past decade. E. Chinese consumers are not interested in purchasing products from the United States.

A

Which of the following statements regarding global segmentation, targeting, and positioning is true? A. Companies must continually adjust products and marketing strategies to meet the changing needs of global markets. B. Global segmentation, targeting, and positioning activities are far less complicated than the same activities in the domestic market. C. When developing a global STP strategy, it is best to define segments by geography alone. D. Segmentation, targeting, and positioning activities for global markets do not differ substantially from that of domestic markets. E. The "golden rule" for global STP activities for firms is to never alter a firm's marketing mix to serve the needs of global markets.

A

Which of the following trade agreements is designed to manage and promote trade activities for the United States, Canada, and Mexico? A. NAFTA B. EU C. CAFTA D. Mercosur E. ASEAN

A

How does a microblog differ from a traditional blog?

A microblog is smaller in size—short sentences, short videos, or individual images—whereas a traditional blog is typically longer.

Which BRIC country's economic growth in the 21st century can largely be attributed to the expansion of its literate population and the impositions of social programs that have allowed more than half of its 201 million citizens to enter the middle class? A. Brazil B. Russia C. India D. China E. Chile

A. Brazil

Select the statement that best describes the key traits of Generation Y. A. This generation varies the most in age, ranging from teenagers to adults who have their own families. B. This generation is the largest population of 50-plus consumers. C. This generation is the group that was born immediately after World War II. D. This generation was the first generation of latchkey children. E. Members of this generation—also known as Digital Natives—have had access to the Internet for their entire lives.

A. This generation varies the most in age, ranging from teenagers to adults who have their own families.

________ are the three types of attribute sets. A. Universal, retrieval, and evoked B. University, relatives, and expression C. United, relations, and exploration D. Urban, random, and exchange E. Unanimity, rule, and express

A. Universal, retrieval, and evoked

One example of a customer loyalty program is A. a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases. B. a quantity discount offered for large purchases at an office supply store. C. seasonal sales on top-selling items. D. an "everyday low price" policy on all products at a grocery store. E. an extensive customer service training program for new employees at a hair salon.

A. a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases.

When clients work with their investment advisers, they _______ their investment portfolios. A. co-create B. discover C. initiate D. balance E. expand

A. cocreate

The process of value __________, in which customers collaborate in product design, often provides additional value to the firm's customers. A. cocreation B. positioning C. delivery D. chain management E. based marketing

A. cocreation

When Porsche filmed an advertisement in which its vehicles ran over the Great Wall of China, Chinese consumers were left more confused than intrigued. To address or avoid such issues, one important cultural classification scheme that firms can use is Geert Hofstede's cultural dimensions concept. Hofstede proposes that cultures differ on all of the following dimensions except A. conservatism. B. individualism. C. masculinity. D. time orientation. E. indulgence.

A. conservatism.

Zappos.com constantly reminds customers of recently viewed items and informs them when stock is low in an effort to entice the customer to make a purchase. Zappos is trying to improve its A. conversion rate. B. collection ratio. C. consumer index. D. customer total. E. culture quotient.

A. conversion rate

Cory is working on a global marketing assessment team looking out well into the future to help determine the most attractive market areas around the world. He is evaluating market sizes and growth rates. Based on population growth rates in different regions, he should consider that A. countries with high purchasing power today may not continue to show the same growth in the future. B. the United States and Western Europe will have dramatic increases in population growth leading to overcrowding. C. the middle class in India will continue to shrink as the rich get richer and the poor get poorer. D. in places like India, urban population centers will become increasingly unattractive and the rural areas will experience major growth in population. E. the global population is expected to grow at staggering rates indefinitely.

A. countries with high purchasing power today may not continue to show the same growth in the future.

Which of the following is one of the global entry strategies? A. direct investment B. countertrade C. offshoring D. infrastructure development E. trade agreements

A. direct investment

Derek just posted an entry in his blog talking about how happy he is with his new GoPro camera. In the blog he also posted videos that he took with the camera. As a customer of the product, which facet of the 4E framework for social media is Derek most exhibiting? A. engagement B. energizing C. excitement D. experiencing E. educating

A. engagement

Referred to as ________, some firms standardize their products globally but use different promotional campaigns to sell them. A. glocalization B. globalization C. adaption D. global communication strategy E. marketing applications

A. glocalization

Maria is the new restaurant manager in a major hotel. When considering changes in the restaurant that will increase value to customers, Maria will likely attempt to either provide the same quality at a lower cost or A. improve products and services at the same cost. B. increase prices to increase revenue. C. offset higher hotel rates with lower restaurant prices. D. reduce customer expectations through reduced service. E. lower the quality and the price.

A. improve products and services at the same cost.

Whenever Valerie has a new massage therapy customer, she invites the person to be on her e-mail distribution list. In the process, in addition to exchanging her massage therapy service for payment, Valerie is gathering A. information B. promotional capital C. pricing data D. value cocreation E. feedback

A. information

Generally, firms entering foreign markets begin with A. less risky strategies first. B. direct investment. C. importing. D. decentralized production. E. the riskiest, but most profitable endeavor.

A. less risky strategies first.

When Talbots, an upscale women's clothing store, tries to portray an image of "traditional, conservative, and with good taste," it is appealing to its target market's A. lifestyle. B. geodemographics. C. demographics. D. loyalty. E. Tapestry segment.

A. lifestyle

Economic measures like GDP and GNI do not fully account for a country's economic health because they measure only A. material output. B. international trade. C. global expectations. D. purchasing power parity. E. poverty potential.

A. material output.

Jennifer was buying the company's first digital copier, and she involved all of the company's department heads in the decision. Jennifer spent weeks evaluating options, inviting RFPs, and negotiating with vendors before she finally made a purchase decision. This buying situation would most likely be classified as a A. new buy. B. modified rebuy. C. straight rebuy. D. modified buy.

A. new buy

While on vacation, Marta had her camera stolen. Not wanting to waste vacation time shopping for a new camera, Marta simply purchased another camera just like her old one. For Marta, the ________ was low. A. perceived benefit versus perceived cost of search. B. locus of control for this decision C. determinant attribute for this decision D. universal set of camera options E. prepurchase dissonance factor

A. perceived benefit versus perceived cost of search.

Henry Ford's statement, "Customers can have any color they want so long as it's black,' typified the _____ era of marketing A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing oriented

A. production-oriented

A university using benefit segmentation and targeting students who want to get a degree quickly while still working full-time would most likely focus on A. providing classes at convenient times and offering online courses. B. discount pricing for students taking more than twelve credit hours. C. the higher average salaries earned by college graduates. D. the great variety of classes offered. E. the number of Nobel Prize winners on the faculty.

A. providing classes at convenient times and offering online courses.

Beverage firms sometimes hire attractive young people to sit at fashionable bars, sipping the company's latest product offering. The firms hope these "models" will serve as a(n) ________ and influence consumers. A. reference group B. risk avoider C. cultural determinant D. cognitive learning experiment E. evoked set

A. reference group

Joanne lives according to her own rules, unconcerned about designer labels, brand names, and luxury items. Joanne is at which level in Maslow's hierarchy of needs? A. self-actualization B. safety C. love D. esteem E. physiological

A. self-actualization

Andy was afraid his new condominium would look shabby to his future in-laws, so he had it painted just before their visit. Andy was addressing his ________ risk. A. social B. financial C. performance D. psychological E. physiological

A. social

Fernando was thrilled to find out that his company had just decided to invest a great deal of money in the product he was managing. He knows that even with its recent high rate of growth and the fact that it dominates its market, he would need more money to establish it firmly. Using the BCG portfolio analysis, his product would be classified as a(n) A. star. B. cash cow. C. question mark. D. dog. E. anchor.

A. star

When positioning products relative to competitors' offerings, firms typically are most successful when they focus on opportunities A. that build on their strengths relative to those of their competition. B. for diversification. C. in international markets. D. where value-based pricing can be ignored. E. where customer excellence can be substituted for product excellence.

A. that build on their strengths relative to those of their competition.

One of the reasons marketers use loyalty segmenttion is: A. the high cost of obtaining new customers. B. government tax incentives. C. accounting difficulties associated with identifying new customers. D. rapid population increases. E. the failure of micromarketing as a workable strategy.

A. the high cost of obtaining new customers.

Many American consumers are purchasing hybrid automobiles even though they are more expensive than conventional compact cars. These consumers A. value contributing to a greener environment. B. are economically irrational. C. are responding to global corporate pressure for social responsibility. D. would prefer an SUV. E. are greenwashing.

A. value contributing to a greener environment.

The goal of ________ is to provide valuable information that a potential B2B buyer can easily understand and that will help the company address its problems with new solutions. A. white papers B. LinkedIn.com C. Twitter D. a democratic buying center E. microblogs

A. white papers

One Laptop Per Child is a nonprofit initiative with the goal of making extremely low-cost laptops available to children in the developing world, with the goal of helping them learn skills needed in today's workforce. If some of the low-cost technology developed for this laptop found its way into laptops created for U.S. consumers, this would be an example of A. glocalization. B. reverse innovation. C. franchising. D. a strategic alliance. E. purchasing power parity.

B

Tariffs, quotas, and currency exchange policies affect global A. offshore product design. B. pricing strategies. C. advertising. D. logistics. E. promotion.

B

The Big Mac Index is a novel measure of A. GDP. B. purchasing power parity. C. per capita GNI. D. economic growth. E. international trade surplus.

B

The most common measure of market potential of an economy is a country's A. GNI. B. GDP. C. PPP. D. CPI. E. APR.

B

When Ben evaluated the commercial infrastructure in Mauritius, he considered the island's A. population control measures. B. legal, banking, and regulatory systems. C. retailing capabilities. D. per capita income estimates. E. climate and culture.

B

When entering a foreign market, the least risky strategy is A. franchising. B. exporting. C. joint venture. D. direct investment. E. strategic alliance.

B

Which of the following are the two components of a global marketing strategy? A. understanding foreign currency fluctuations and developing products that can be priced accordingly B. determining which target markets to pursue and developing a marketing mix to obtain a competitive advantage C. understanding the supply chain and distribution networks in foreign markets D. developing culturally appropriate advertising messages and cultivating "domestic" habits among foreign consumers E. adapting to foreign regulations and targeting as many people as possible

B

Which of the following is not one of Hofstede's cultural dimensions? A. power distance B. certainty assurance C. masculinity D. individualism E. time orientation

B

Which of the following statements best describes global expansion through a strategic alliance? A. In a strategic alliance, a firm enters a new market and forms a new company with shared ownership, profits, and control. B. A strategic alliance is a relationship in which two firms collaborate on a business opportunity, but do not invest in each other. C. In a strategic alliance, two firms enter into a franchise agreement. D. In a strategic alliance, a firm in one country sends products to a firm in another country. E. In a strategic alliance, a firm signs a trade agreement with a firm in another country.

B

Which of these trade agreements represents the highest level of integration among participating nations? A. NAFTA B. EU C. GNI D. ASEAN E. CAFTA

B

With a median age of 36.3 years, ________ is one of the most rapidly aging countries in the world. A. Russia B. China C. Brazil D. India E. Chile

B

Which of the following is currently a negative factor for foreign investment in India? A. India's population is fairly old and aging fast. B. India's retail environment lacks modern supply chain management facilities and systems C. India prevents foreign investors from entering into joint ventures. D. India has no shopping malls or other large commercial centers. E. India lacks a skilled workforce.

B. India's retail environment lacks modern supply chain management facilities and systems

________ is an extreme form of a targeting strategy. A. Macromarketing B. Micromarketing C. Benefit marketing D. Differentiated targeting E. Concentrated targeting

B. Micromarketing

Which of the following factors, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of an opportunity? A. The factory that manufactures a new, popular car cannot build enough vehicles to meet the demand, while other factories have excess capacity. B. Recent consumer studies have indicated that Chinese consumers prefer American cars. C. A New York law firm has filed a $10 million class action suit against the company on behalf of car owners whose gas tanks exploded. D. Due to outdated engine technology, the company's cars get lower gas mileage than those of major competitors. E. The company has lower manufacturing costs than its key competitors, allowing it to sell its cars at low prices.

B. Recent consumer studies have indicated that Chinese consumers prefer American cars.

Jordana is buying a laptop computer to take on trips. Although she has looked at several brands, she refuses to buy a computer that weighs more than five pounds. Jordana is basing her decision on A. a compensatory decision rule. B. a noncompensatory decision rule. C. habitual decision making. D. social factors. E. temporal factors.

B. a noncompensatory decision rule.

When Cisco Systems Inc. of San Jose, California, and Tata Consultancy Services of Mumbai, India, entered into a relationship, they both continued to develop market-ready infrastructure and network solutions for customers, but they relied on each other to provide the training and skills that one or the other might have lacked. This relationship is best described as A. NAFTA. B. a strategic alliance. C. CAFTA. D. an international partnership. E. a joint venture.

B. a strategic alliance.

The level of economic development, as well as differences in product and technical standards, helps determine the need for and level of product A. glocalization. B. adaptation. C. segmentation. D. globalization. E. regulation.

B. adaptation.

Marketers in the United States are paying increasing attention to ethnic groups because A. they represent a majority of the population in non-urban areas of the country. B. approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups. C. they are more susceptible to marketing messages. D. government subsidies assist marketers attempting to communicate value to these groups. E. country culture is replacing regional culture as a key marketing consideration.

B. approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups.

Social networking sites that compete directly with Facebook have a difficult time surviving; however, LinkedIn has survived by focusing on the needs of business professionals, who seek to network with colleagues, share their expertise, post online résumés, and look for new jobs. What segmentation method is LinkedIn using? A. loyalty segmentation B. benefit segmentation C. psychographic segmentation D. geodemographic segmentation E. demographic segmentation

B. benefit segmentation

CA Technologies, a firm providing software and services to information technology departments, maintains a corporate blog. How can this blog help CA Technologies with B2B marketing? A. as a place to post responses to RFPs B. by building brand awareness among potential customers C. by simplifying vendor performance assessment D. by streamlining purchasing and distribution E. by matching buyers' requests and sellers' offers

B. by building brand awareness among potential customers

According to your text, how do social media technologies help marketers connect with their customers? A. by helping firms appear more "hip" to customers B. by helping build connections between customers and firms C. by helping firms establish an Internet presence D. by allowing customers to search for products more easily E. by allowing firms to capture customer information

B. by helping build connections between customers and firms

The basic difference between a good and a service is that a good A. provides intangible benefits B. can be physically touched C. is always less expensive than a corresponding service D. generates greater interest among customers E. is more quickly forgotten by consumers

B. can be physically touched

All of the following are included in Hofstede's cultural dimensions except A. power distance. B. certainty assurance. C. masculinity. D. individualism. E. time orientation.

B. certainty assurance

Mary wants to sell her products in Europe, since they are doing well in the United States. She does not have a lot of capital and is risk-averse, so she most likely would choose to begin with A. opening a franchise. B. exporting her products. C. forming a strategic alliance with another company. D. entering a joint venture with a local firm. E. making a direct investment in another country.

B. exporting her products.

Global expansion often begins with A. franchising. B. exporting of goods. C. joint ventures. D. direct investment. E. strategic alliances.

B. exporting of goods.

Last semester, Henry bought his textbooks over the Internet and saved a considerable amount of money. Classes start in a few days, and he needs to decide right away how and where to purchase his books. Henry will most likely engage in a(n) ________ process. A. impulse buying B. limited problem-solving C. extended problem-solving D. ritual consumption E. affective decision

B. limited problem-solving

Some universities offer online degree programs, competing with traditional colleges based on the convenience of taking online courses. These online programs are most likely pursuing which macro strategy? A. customer excellence B. locational excellence C. operational excellence D. product excellence E. purchase excellence

B. locational excellence

The marketing goal of getting the "right quantities to the right locations, at the right time" relates to A. communicating the value proposition B. managing the supply chain C. performing service marketing D. capturing value E. managing price and performance

B. managing the supply chain

A ________ growth strategy employs the existing marketing offering to reach new market segments. A. product proliferation B. market development C. market penetration D. diversification E. product development

B. market development

Marney bought a dress from a retail store. Which type of transaction was Marney participating in?

B2C

Which of the following is the best way to build a sustainable competitive advantage using product excellence? A. being the first to offer customers desired features, even if competitors can copy them easily B. positioning the product using a clear, distinctive, desirable brand image C. having the most features on each model D. focusing on being cutting edge and continually eliminating older features that are still in use by customers E. copying the market leader's features, but at a lower cost

B. positioning the product using a clear, distinctive, desirable brand image

Many teenagers, both male and female, have clothes they purchased in the past that they "would not be caught dead in" today. When they occasionally see those clothes hanging in the back of their closet, these teenagers probably feel A. cognitive bias. B. postpurchase cognitive dissonance. C. psychological risk. D. need recognition. E. physiological risk.

B. postpurchase cognitive dissonance.

Chris is gathering information about the general economic environment in Nepal. In doing so, he will look for information about the general economic environment, market size and population growth rate, and A. culture. B. real income. C. airport capabilities. D. political status. E. religious institutions.

B. real income.

Cultural nuances, subcultures, and consumers' different views of their roles in different countries can make __________ complicated. A. purchasing power parity B. segmentation, targeting, and positioning C. trading bloc coordination D. exchange control planning E. reducing trade surpluses

B. segmentation, targeting, and positioning

Beverage companies often use television commercials with images of young people laughing and enjoying themselves on a beach or in a club. These images are designed to appeal to consumers' ________, suggesting "be like me." A. geographic choices B. self-concepts C. loyalty references D. benefit perceptions E. demographics

B. self-concepts

The shift of population from rural to urban areas in countries such as India helps global marketers by A. decreasing pollution. B. simplifying the supply chain needed to make goods and services available. C. increasing the human development index. D. decreasing competition for intellectual capital. E. increasing nonmaterial GDP output.

B. simplifying the supply chain needed to make goods and services available.

As purchasing manager for Avalon Electronics, Cary is required to submit a vendor performance analysis every three months. To meet this requirement, Cary will most likely A. interview vendors and seek their feedback. B. specify and weight performance factors and score the vendors. C. develop an RFP for vendor analysis. D. recruit new suppliers. E. use a modified rebuy vendor form.

B. specify and weight performance factors and score the vendors.

Jenny, the delivery and sales representative for a beer distributor, is calling on a retailer and sees the shelves are almost empty. An unexpected sporting event held nearby resulted in a huge increase in sales. She calls her company's distribution manager and requests a special delivery for her customer. Jenny is providing the important marketing function of A. customer relationship management B. supply chain management C. capturing value D. communicating the value proposition E. business-to-business marketing

B. supply chain management

Xavier is analyzing potential market segments. He should carefully seek potential customers who have both an interest in his products and A. a throughout knowledge of his brand messages B. the ability to buy them C. knowledge of competing products D. the ability to negotiate discounts E. are removed from traditional marketing alternatives

B. the ability to buy them

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes A. only the actual price they pay at the register B. the value of their time and energy C. the excitement they experience in finding an item they desire D. the savings to the store of not having to display the products neatly on shelves E. when the product was listed at full price and didn't sell.

B. the value of their time and energy

Global businesses often find it particularly difficult to understand the __________ of a country's culture. A. symbols B. underlying values C. ceremonies D. exhibited behavior E. visible artifacts

B. underlying values

While demographic and geographic segmentation of retail customers are relatively easy, these characteristics do not help marketers determine A. how old their customers are. B. what their customers need. C. where their customers live. D. which customers have young children. E. what income brackets their customers are in.

B. what their customers need.

Not only does GIS technology help Starbucks determine the ideal locations for new stores, but it also can enable the company to decide A. the age of its target market B. which kinds of stores to open C. the type of coffee to sell D. the type of food to sell E. how many new locations it should open

B. which kinds of stores to open

Today, many developed countries are experiencing __________ population growth. A. slight B. zero or negative C. rapid D. moderate E. significant

B. zero or negative

__________ segmentation is the segmentation method most directly related to value creation for consumers.

Benefit

Changes in tariffs and quotas are A. business actions stimulating imports. B. corporate strategies designed to maximize profits. C. government actions that reduce competition from international firms. D. efforts to stimulate choices among government agencies. E. a means of slowing outsourcing.

C

DP is defined as A. the value of a country's exports minus its imports. B. the difference between two country's exchange rates. C. the market value of goods and services produced in a country in a year. D. national income minus national taxes. E. the gross purchasing power of domestic goods and services plus international income.

C

Ford Motor Company decided to sell the Fiesta around the globe. Which of the following would be an example of glocalization of the Fiesta? A. The same product design and features, and the same basic promotional campaign, used in all countries. B. Variations in the product design country by country, with the same basic promotional campaign used in all countries. C. The same product design and features in all countries, with variations in the promotional campaigns country by country. D. Variations in the product design and the promotional campaign country by country. E. The same marketing mix for all of the four Ps used in all countries.

C

The most important consideration when a firm chooses a global product strategy should be A. opportunities for countertrade. B. the effectiveness of the marketing team. C. the needs of the target market. D. the overall cost of the strategy. E. WTO regulations.

C

When a firm pools its resources with that of a local firm to enter a new market, they create a(n) A. franchise. B. export promotion. C. joint venture. D. direct investment. E. strategic alliance.

C

Which country has a large literate population which has helped it move up to become the world's seventh largest economy? A. Russia B. China C. Brazil D. India E. United States

C

Which country's government has recently made significant changes that will modernize the retail environment, such as allowing joint ventures and direct ownership in some cases? A. Brazil B. Russia C. India D. China E. Mexico

C

Which of the BRIC countries has one of the youngest populations in the world and is increasingly adopting global attitudes? A. Russia B. Brazil C. India D. Italy E. China

C

Individuals achieve the _____________ effect when they check in, post a picture to Instagram, upload a video to YouTube, or share a link to an article they have liked on Facebook. A. media B. information C. connected D. social E. interconnected

C. connected

Which of the following is an example of greenwashing? A. A company markets a product made from recycled glass bottles. B. A company charges more for a hybrid car than for a similar gas model. C. A company donates money to a school reading project so it can advertise itself as environmentally friendly. D. The Smiths installed energy-saving lightbulbs in their rental apartment buildings. E. The corner Laundromat stocks only phosphate-free detergent in its vending machines.

C. A company donates money to a school reading project so it can advertise itself as environmentally friendly.

As use of the Internet took off, car manufacturers were tempted to sell directly to consumers, but decided instead to continue to sell through their existing dealer networks. The car manufacturers considered switching from ________ to ________ marketing. A. B2C; B2B B. B2C; C2C C. B2B; B2C D. B2B; C2C E. C2C; B2C

C. B2B; C2C

Before going on his first business trip to China, Bradley asked his Chinese American friend to advise him on customs and values common among the Chinese businesspeople he will likely encounter. Bradley is trying to avoid ________ business blunders. A. reference group B. situational C. cultural D. cognitive E. evoked

C. Cultural

Which of the following steps occurs during the implementation phase of the marketing plan? A. Evaluate performance using marketing metrics B. Conduct a situation analysis C. Identify and evaluate opportunities D. Define business mission E. Define business objectives

C. Identify and evaluate opportunities

A company is assessing opportunities in the BRIC countries and determines that ________ is one of the youngest populations in the world and is increasingly adopting global attitudes. A. Russia B. Brazil C. India D. Italy E. China

C. India

Which of the following is currently a negative factor for foreign investment in Russia? A. The Russian population is poorly educated. B. Russian consumers have little interest in online shopping. C. Russia is known for corruption, creating ethical dilemmas for firms. D. Russian consumer markets are saturated, offering few opportunities for goods from U.S. companies to sell well. E. Few Russians have access to the Internet due to heavy regulation.

C. Russia is known for corruption, creating ethical dilemmas for firms.

Why should marketers be aware of the BRIC countries? A. They are a microcosm of the rest of the world. B. They represent almost half the world's population. C. They are likely to be the source of most market growth. D. They have had the most dramatic changes in culture and consumer buying patterns. E. They have stable population growth, which makes them easier to study.

C. They are likely to be the source of most market growth.

When a pharmaceutical company develops a new medication, it typically applies for a patent in order to prevent competitors from developing copycat products for several years. Pharmaceutical companies apply for patents to establish A. an operational excellence macro strategy. B. a market penetration growth strategy. C. a sustainable competitive advantage. D. an efficient supply chain. E. product efficiency.

C. a sustainable competitive advantage.

Jimmy wants to position his firm against his competitors. In doing so he should A. never select a competitor in the same neighborhood. B. avoid making the competitor's product look undesirable. C. avoid looking too much like the competitor so as not to confuse the target segment. D. avoid discussing the strengths of his product so that competitors won't be aware of his product quality. E. avoid discussing the weaknesses of his competitors so they won't retaliate.

C. avoid looking too much like the competitor so as not to confuse the target segment.

The idea of value-based marketing requires firms to charge a price that A. covers costs and generates a modest profit. B. includes the value of the effort the firm put into the product or service. C. captures the value customers perceive that they are receiving. D. prioritizes customer excellence above operational excellence. E. matches competitors' prices.

C. captures the value customers perceive that they are receiving.

As noted in your text, global segmenting, targeting, and positioning are more complicated than domestic segmenting and positioning because of cultural nuances, significant subcultures within countries, and A. currency differences. B. antidiscrimination regulations prohibiting segmentation and targeting in developing countries. C. differences in the way consumers see themselves and in the way they see products and services. D. complications due to franchising issues. E. the taxes imposed by some foreign countries on marketing activities.

C. differences in the way consumers see themselves and in the way they see products and services.

Unlike a firm's mission statement or employee handbook, a firm's organizational culture often A. lists specific job tasks for employees. B. is of no importance to purchase decisions. C. exists as a set of unspoken guidelines. D. is ignored by the vast majority of employees. E. determines the order specification process.

C. exists as a set of unspoken guidelines.

Gloria's Kayak Tours initially identified active retirees living in the retirement community nearby as one of its target markets. Gloria then tailored her service and marketing message to the interests and schedules of that audience. Gloria initially used ________ segmentation and then used ________ segmentation. A. micromarketing; loyalty B. lifestyle; macromarketing C. geodemographic; lifestyle D. geographic; loyalty E. behavioral; geodemographic

C. geodemographic; lifestyle

Henriette offers financial counseling and management on a fee-only basis. She has found that different customers are willing to pay different rates for her services. This shows that her pricing decisions should depend primarily on A. choosing an average price that she will charge all her clients B. changes in technology allowing consumers to manage their own affairs C. how different customers perceive the value of her services D. changes in the economy E. how much her competitors charge for similar services

C. how different customers perceive the value of her services

Selena is the director of human resources for a small manufacturing firm. She has a strong personal interest in technology, and is known throughout the firm as the one with the most knowledge about new kinds of communications technologies. If the firm decides to upgrade its network, Selena will probably function in what role in the firm's buying center? A. leader B. initiator C. influencer D. decider E. gatekeeper

C. influencer

India, like some other countries, may require entering firms to create _________ when expanding into their markets, limiting outsiders' control of businesses. A. franchises B. export promotions C. joint ventures D. direct investments E. strategic alliances

C. joint ventures

One of the benefits of value-driven marketing is that attention to customer needs and wants will likely result in A. higher prices than the market leader charges B. increased competition C. long-term relationships D. strong connections among competing firms in the marketplace E. lower prices

C. long-term relationships

Abercrombie & Fitch, a clothing retailer, includes a "SHARE" link on the product pages of its website. This link encourages an Abercrombie customer to post a link (perhaps showing a new style of jeans) on Facebook or Twitter. Abercrombie & Fitch hopes that the customer's friends (who are probably very much like current customers) will click the link, visit the page, and make purchases. This is an example of a ________ growth strategy. A. product proliferation B. market development C. market penetration D. diversification E. product development

C. market penetration

Andy decides to add new sales representatives and increase advertising to increase sales in her existing market for her current line of security systems. Andy is pursuing a ________ growth strategy. A. segment development B. market development C. market penetration D. diversification E. product development

C. market penetration

Among Internet users, some do research online, some shop, some look for entertainment, and many do all three. Each of these groups would be called a A. strategic group. B. strategic business unit. C. market segment. D. cash cow. E. marketing metric.

C. market segment

Most firms maintain customer complaint services online, in the store, or over the telephone. Firms attempt to respond quickly to complaints, hoping to A. get themselves into the universal set. B. reduce the cost of postpurchase advertising. C. minimize negative word of mouth. D. extend decision rules to the customer complaint desk. E. offset performance risk with financial risk.

C. minimize negative word of mouth.

Kim has just learned that Caribou Coffee is looking for a new source of commercial-grade coffee makers, one of the products she sells. She knows Caribou has been in business for many years, but she has not been able to get any business from them. When developing her marketing strategy, Kim will probably assume that this represents a(n) ________ situation for Caribou Coffee, and she will want to find out why Caribou is considering alternatives. A. adapted buy B. new buy C. modified rebuy D. straight rebuy E. generic buy

C. modified rebuy

Normally, BC bottling company attaches plastic labels to its bottles. However, a new regulation requires that the company now use fabric labels. To use this latest innovation, BC bottling company must now source these fabric labels from another company. This is an example of A. a modified rebuy situation. B. vendor analysis. C. need recognition. D. a straight rebuy situation. E. an RFP.

C. need recognition.

Value-oriented marketers constantly measure A. promotional effectiveness against ethical advertising standards. B. the problem of price maximization against cost-efficiency. C. perceived customer benefits against the costs of their offerings. D. the desire to achieve against the need for a stable source of supply. E. the goal of efficiency against the price charged by competitors.

C. perceived customer benefits against the costs of their offerings.

Global pricing strategies should strive to be consistent with A. offshore distribution facilities. B. the cost of materials. C. positioning strategies. D. domestic pricing. E. trade surplus guidelines.

C. positioning strategies.

Which element of the marketing mix is most relevant to the activity "creating value"? A. promotion B. purchasing C. product D. price E. place

C. product

Customers around the world know Pepsi and consider it a primary "go-to" brand if they want a refreshing drink. This positioning reflects Pepsi's A. locational excellence. B. operational excellence. C. product excellence. D. strategic business unit control. E. supply chain management.

C. product excellence

A(n) ________ is a group of products that consumers may use together or perceive as similar in some way. A. SBU B. STP C. product line D. market segment E. promotional service

C. product line

Which of the following is an example of a government buyer? A. Mayo Clinic Hospital B. Procter & Gamble C. the Department of Defense D. Nucor Steel Corporation E. Walmart

C. the Department of Defense

A tablet programmed with key customers' birthdates, wine preferences, and food allergies is a(n) __________ tool.

CRM

__________ is the shared meanings, beliefs, morals, values, and customs of a group of people.

Culture

Brands can be extremely valuable domestically, but challenging internationally. Companies can help overcome language difficulties in using brands by A. keeping the brand name the same in all languages, regardless of meanings, as long as the brand logo and symbol are displayed prominently. B. avoiding the use of the brand name in advertising and focusing on features and benefits. C. translating advertising copy for the entire ad except the brand name. D. developing brand names that have no preexisting meaning in any known language. E. adhering to the UN Convention on Naming Rights.

D

Changes in _________ have been a driving force for growth in global markets for decades. A. infrastructure B. demographics C. population D. technology E. ethical standards

D

Core Publishing Company learned that when selling overseas, local fulfillment can be more cost-effective, and it also can decrease delivery time and improve customer service. This is an example of a global _________ strategy. A. communication B. product C. promotion D. distribution E. pricing

D

Domestic firms developing a global entry strategy might consider franchising; however, the disadvantages need to be considered. Which of these is not a disadvantage of franchising? A. The franchisor has limited ability to ensure that foreign operations follow all the concepts and ideas that made the firm successful domestically. B. The franchisee might end up becoming a competitor. C. Franchising limits profit potential, since profits will have to be split with the franchisee. D. Franchising is the riskiest way to enter a foreign market. E. All of these are disadvantages a firm must consider. Franchising is actually among the lower-risk global expansion strategies

D

Gross national income equals GDP A. minus net consumer spending. B. plus government spending on international trade. C. minus purchasing power parity. D. plus the net investment income earned from abroad. E. plus gross domestic international investment.

D

Marketers sometimes use Hofstede's cultural dimensions to design marketing campaigns A. with low individualism symbolism when confronted with a time-oriented culture. B. that use uncertainty avoidance to reduce power distance. C. with significant power distance. D. consistent with underlying cultural values in a country. E. with more consistent time orientation.

D

The United States imports more goods from China than it exports to China. This is known as A. gross national income (GNI). B. a trade surplus. C. gross domestic product (GDP). D. a trade deficit. E. an import imbalance.

D

When considering global marketing opportunities in Bangladesh, Tom asked the question, "How will we get it there?" Tom is concerned about __________ capabilities in Bangladesh. A. production capacity B. pricing C. advertising D. infrastructure E. cultural

D

Which country has a rapidly aging population due to its one-child policy? A. Brazil B. Russia C. India D. China E. Japan

D

Which country has embraced market-oriented economic development in spite of maintaining communist political ideals? A. Brazil B. Russia C. Iran D. China E. Afghanistan

D

Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students. These bulletin boards increase __________ marketing. A. B2C B. C2B C. B2B D. C2C. E. underground

D. C2C

By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to A. influence social norms regarding sexuality B. encourage consumers to participate in product redesign C. stimulate supply chain management cooperation D. increase the perceived value of its products E. demonstrate social responsibility

D. increase the perceived value of its products

Leah is the marketing manager for an electronics company. While on vacation in Ecuador, she visited electronics stores in the major malls in Quito, the capital city. Most of her company's products were available, except for smartphones. When she returned to work, she mentioned this observation to her international sales manager. Leah was providing the important marketing function of A. co-creating an investment portfolio B. selling products from one business to another C. engaging customers, developing long-term relationships D. identifying opportunities to expand E. enhancing the customer experience

D. Identify opportunities to expand

Which of the following apps would help consumers fulfill their "need to accomplish"? A. Snapchat B. Google Calendar C. Flipboard D. MyFitnessPal E. SkyMap

D. MyFitnessPal

Over the last few months, Juan and his colleagues have analyzed the current business situation and identified target markets for his firm's personal care products. Finally, they developed the products, prices, distribution, and promotion that should appeal to each of those target markets. In doing so, Juan has also identified what he believes is an advantage his competitors cannot match. Juan and his colleagues have been developing A. a business mission statement B. a strategic vision C. team-building exercises D. a marketing strategy E. competitive assessments

D. a marketing strategy.

Zara is a women's clothing retailer headquartered in Spain, with stores located in many countries. Zara has developed a "quick response" system that allows store merchandise to be adjusted rapidly to fit changing customer preferences. Every aspect of Zara's operation is optimized for this system, making it difficult for competitors like The Gap to duplicate. Zara has established A. customer loyalty. B. locational excellence. C. a diversification growth strategy. D. a sustainable competitive advantage. E. a related diversification opportunity.

D. a sustainable competitive advantage.

When Jeanne gave her presentation to the BigDeal buying center team, she focused on answering Beverly's questions, since Beverly is the decision maker. What type of buying center does BigDeal employ? A. democratic B. consultative C. consensus D. autocratic E. authoritative

D. autocratic

The light beer commercial with the slogan "less filling, tastes great" was based on ________ segmentation. A. geographic B. geodemographic C. psychographic D. benefit E. loyalty

D. benefit

To become a more value-driven organization, Martin University is holding regular coffee-hour discussions with its students and surveying its graduates regarding students' educational needs and desires. Martin University is becoming more value driven through A. sharing information across the organization B. balancing its customers' benefits and costs C. evaluating strategic competitive partnerships D. building relationships with customers E. keeping the faculty members happy

D. building relationships with customers

NCD Company wants to expand into the Mexican market. It has the financial resources, wants to control business operations, and had considerable success marketing to Hispanics in the United States. NCD will likely use __________ to expand into the Mexican market. A. franchising B. exporting C. a joint venture D. direct investment E. a strategic alliance

D. direct investment

Four Winds sells painting. They have also recently begun offering appraisals of customers' art collections. Four Winds is A. expanding from offering just services to also offering goods B. implementing a market segmentation strategy C. capturing value through multiple pricing strategies D. expanding from offering just goods to also offering services E. increasing customer value through inflated appraisal evaluations

D. expanding from offering just goods to also offering services

Jose wants to upgrade his look before a job interview. A friend tells him about a men's clothing line that allows potential customers to virtually try on suits and see what looks best. It even offers an interactive "custom fit" feature. After checking out his options, Jose takes his measurements and orders a suit without ever leaving his office. Virtually trying on a suit best describes which of the 4E framework objectives? A. engage B. energize C. excite D. experience E. educate

D. experience

The goal of customer relationship management is to A. manage every customer relationship differently B. manage every customer relationship to maximize short-term profitability C. eliminate customers who are profitable, but not highly profitable D. identify and build loyalty among a firm's most valued customers E. generate relationships with competitors' customers.

D. identify and build loyalty among a firm's most valued customers

Which of these is not one of the BRIC countries? A. Bulgaria B. Russia C. India D. China E. These are all BRIC countries.

E

Fiona is trying to determine whether the segments she is considering for her day care center will be profitable. Which of the following will not specifically help her in this analysis? A. the number of children needing day care in the immediate area B. the fixed costs of operating the center C. the percentage of parents in the area who can both afford to send their child or children to day care and who are willing to do so D. the average number of school-age children in families sending a child to the day care center E. the price she would charge minus the variable cost of providing service to each child

D. the average number of school-age children in families sending a child to the day care center

Ford Motor Company may be thinking of announcing that it will severely cut back its automobile production. For parts companies supplying Ford its parts, this cut back in production represents a(n) A. weakness. B. opportunity. C. strength D. threat. E. strategic plan.

D. threat

During the __________ era, manufacturers and retailers recognized they needed to give their customers greater value than their competitors did. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

D. value-based marketing

Mary studies her customer profiles, market research data, complaints, and other information, attempting to better understand what her customers want. Mary's orientation is __________ concept. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

D. value-based marketing

A __________ limits the quantity of imported merchandise, thus minimizing competition faced by domestic products. A. tariff B. duty C. trading bloc D. trade agreement E. quota

E

Culture affects A. how consumers decide to make their purchases. B. what consumers decide to purchase. C. when consumers decide to make their purchases. D. where consumers decide to make their purchases. E. every aspect of consumers' purchase decisions.

E

Global marketers are under constant pressure to shorten distribution channels in order to A. improve promotion efficiency. B. reduce trade deficits. C. afford tariffs. D. meet trade agreement guidelines. E. reduce costs.

E

The term trade deficit refers to A. a country that exports more goods than it imports. B. an indicator of the quality of life in a country. C. a level of population growth that impacts exports. D. the sum of all goods and services handled in a country. E. higher levels of imports than exports.

E

To determine the market potential for its particular product or service, a firm should use A. GDP data. B. unemployment data. C. purchasing power parity data. D. inflation data. E. as many metrics as it can obtain.

E

What do the BRIC countries have in common? A. They participate together in a trading bloc. B. They have suffered more than most other countries in the recent recession. C. They are Asian countries experiencing explosive population growth. D. They are the four countries known for the highest levels of bribery in business and government. E. They are experiencing significant levels of economic growth.

E

When Ford Motor Company decided to sell the Fiesta—in the same form and design—around the globe, instead of selling different versions in different countries, this was part of Ford's global ________ strategy. A. communication B. pricing C. distribution D. exchange E. product

E

Which country is Europe's largest Internet market, with Internet users growing at a rate of 14 percent annually? A. Great Britain B. Spain C. France D. Germany E. Russia

E. Russia

Which of the following groups has never lived without easy access to the Internet and other digital technologies? A. Baby Boomers B. Generation W C. Generation X D. Generation Y E. Generation Z

E. Generation Z

If you visit a Kentucky Fried Chicken restaurant in China, along with KFC's regular menu items, you will find congee, a rice porridge that can feature pork, pickles, mushrooms, and preserved egg, on the menu. This is an example of which global product strategy? A. Sell the same products in both the home country market and the host country. B. Sell only products native to the home country. C. Sell a product similar to that sold in the home country, but include minor adaptations. D. Sell only products native to the various global markets. E. Sell totally new products or services.

E. Sell totally new products or services.

Subway is a large chain of franchise sandwich shops. Marcia owns three Subway stores in a large city. At the end of the year, she notes that sales rose from 2 to 5 percent over last year's sales at Stores 1 and 2, but fell 2 percent at Store 3. Based on this information, which of the following is the best course of action as to how Marcia should reward (or punish) her store managers? A. She should give bonuses to the managers of Stores 1 and 2, and put the Store 3 manager on probation. B. She should ignore the sales data; they are not an appropriate marketing metric. C. She should give each manager a raise, tied to the store results. D. She should review at least 10 years of sales data about her stores' performance before making a decision. E. She should seek more information about why the stores had different results before making a decision.

E. She should seek more information about why the stores had different results before making a decision.

When Karen realized her dog had fleas, Karen was faced with A. a social-perceptual incongruence. B. a psychological need. C. a cognitive learning failure. D. a universal shopping need. E. an unsatisfied need

E. an unsatisfied need.

Coca-Cola relies on _________ technology to offer their customers a free Coke at the moment they walk through a movie theater. A. network B. dynamic C. radar D. satellite E. beacon

E. beacon

When a business customer engages in a straight rebuy, the member of the buying center most likely to be involved in the purchase is the A. decider. B. initiator. C. influencer. D. user. E. buyer.

E. buyer

Fourteenth National Bank prides itself on offering better service than any of its competitors. If this is accurate, and if customers recognize and value Fourteenth National's superior service, the bank creates and delivers value through A. promotional excellence. B. product excellence. C. operational excellence. D. global excellence. E. customer excellence.

E. customer excellence.

When the Minnesota Timberwolves encouraged Facebook fans to post a great shot of a dunk onto its Pinterest page for a chance to win tickets to a game, which dimension of the 4E framework was being targeted? A. educate B. experience C. engage D. energize E. excite

E. excite

Nancy and her fiancé Don are planning their wedding. She knows her mother wants her to have a traditional church wedding with a Roman Catholic priest officiating. Nancy would like to have an informal ceremony on the beach, since that type of wedding has become popular with her friends. Furthermore, Don is from Thailand and would like to have a monk officiate. Nancy and Don's wedding decisions are most influenced by A. impulse, habitual, and limited problem-solving processes. B. functional and psychological profit. C. universal, retrieval, and evoked sets. D. cognitive, affective, and behavioral environments. E. family, reference groups, and culture.

E. family, reference groups, and culture.

Kimberly is the sales representative for a major textbook publisher. When she calls on the business faculty at General University, her first stop is to chat with Frances, the business department secretary. From Frances, Kimberly learns which professors have left the university or have newly arrived. Frances also helps Kimberly make appointments to see professors to discuss textbook choices. Frances acts as the ________ in the business department buying center. A. buyer B. initiator C. influencer D. user E. gatekeeper

E. gatekeeper

Many health insurance policies require patients to call their insurance company to get preapproval for tests or procedures. The health insurance company acts as a(n) ________ for the purchase of these medical services. A. decider B. Initiator C. influencer D. user E. gatekeeper

E. gatekeeper

Marketers love consumers who engage in ________, buying their company's product with little thought or consideration of alternatives. A. compensatory decisions B. personal problem solving C. extended problem solving D. reference group consumption E. habitual decision making

E. habitual decision making

Every time Katy wants to eat salad for lunch, she and her friends go to Sweet Tomatoes, but if she's craving dessert, she heads straight to The Cheesecake Factory. In making these choices, she relies on a(n) A. perceived benefits analysis. B. external locus of control. C. exceptional marketing campaign. D. external source of information. E. internal search for information.

E. internal search for information

A common view in today's business climate is that the only responsibility of a business is to its shareholders, so its only purpose is to make a profit.

F (At one point, a popular view held that the only responsibility of a business was to its shareholders, so its only purpose was to make a profit. In many parts of the world, that view has been supplanted with the idea that companies must consider their responsibilities to a wider range of stakeholders who make up society.)

Brazil is characterized by strong upper and lower classes, but the middle class has declined in recent years.

F (Brazil's impressive economic growth in the 21st century largely can be attributed to the expansion of its literate population and the impositions of social programs that have allowed more than half of the 201 million Brazilians to enter the middle class.)

The purpose of conscious marketing is to make a product by selling products and services.

F (Conscious marketing entails a sense of purpose for the firm that is higher than simply making a profit by selling products and services. It encompasses four overriding principles: recognition of marketing's greater purpose; consideration of stakeholders and their interdependence; the presence of conscious leadership, creating a corporate culture; and the understanding that decisions are ethically based.)

________ is the cost to the customers or the fee the bank charges those customers for borrowing money.

Interest

Which of the following is true regarding corporate social responsibility?

It is often grafted on to a traditional business model, usually as a separate department or part of PR.

The global athletic footwear market is expected to experience only very slow growth over the next several years.

Nike's athletic shoe business still requires some investment, but it is likely to produce excess resources that can be invested in other divisions of the company.

___________ represents all the activities necessary to get the product to the right customer when that customer wants it.

Place

The first question a marketing researcher should ask before embarking on a research study is

Will the research be useful?

The National Institutes of Health (NIH) sponsors medical foundations to conduct research to treat rare diseases. The research is then disseminated to the medical community, thus encouraging the development of drugs and therapies more quickly and at a lower cost than would be possible if the research were privately funded. This is an example of

an R&D consortia.

The XYZ car manufacturing company is advertising its new hybrid vehicle. It understands that its competition, Toyota's hybrid car, the Prius, is known for being economical, a good value, stylish, and good for the environment. Toyota has the advantage of

brand associations.

Marco tried a new fruit-flavored beverage and thought it was awful. He was especially disappointed because he had liked the dried fruit snacks marketed under the same brand name. Now he wasn't sure he even wanted to buy the snacks he had liked before. This highlights a problem in branding known as

brand dilution.

Jake developed a toothpaste using only natural ingredients, and he has been quite successful selling the product in health food stores and some grocery stores. He has recently developed a toothbrush using bamboo and natural components. Jake is considering a __________, giving the toothbrush the same brand name as the toothpaste in order to create greater brand awareness.

brand extension

To attract and maintain habitual purchasers, marketers spend considerable effort

creating strong brands and store loyalty.

A service is any intangible offering that involves a deed, performance, or effort that

cannot be physically possessed.

Which country has a rapidly aging population due to its one-child policy?

china

After a firm has carefully considered all relevant alternatives to address an ethically difficult situation, the next step would be to _____ to bring about the best solution.

choose a course of action

If a firm takes voluntary actions to address the ethical, social, and environmental impacts of its business operations, it is involved in

corporate social responsibility.

Sometimes brand names become synonymous with a product itself. If that happens, the brand

could lose its trademark status.

Astute marketers recognize that the increasing disparity of income between upper- and lower-income groups

creates opportunities to provide value to each group.

Chris laughed at some of the cultural mistakes companies made in advertising and promotion in international trade while he was in school. Now he was trying to determine what had gone wrong with the campaign he had planned in Latin America for his company's product, and it didn't seem quite as amusing. He narrowed the issues to sociocultural factors. He was looking at both __________ and __________. A. product uses; currency rates B. language; trading blocs and social structure C. potential tariffs; symbols D. visible artifacts; underlying values E. verbal communication; logistics

d

Which of the following are the two components of a global marketing strategy?

determining which target markets to pursue and developing a marketing mix to obtain a competitive advantage

Graham had developed an extremely successful advertising and promotion campaign for a client in the United States. The client wanted to roll out the same campaign to markets worldwide, but Graham cautioned against doing this, most likely because

differences in languages, customs, and culture might make the campaign meaningless and ineffective in some markets.

Changes in tariffs and quotas are

government actions that reduce competition from international firms.

The goal of customer relationship management is to

identify and build loyalty among a firm's most valued customers.

When firms are applying an ethical framework for making decisions in a questionable situation, the first step is to

identify issues

A regional manager at GNC, a chain of retail stores selling nutritional supplements, is reviewing sales data after a recent in-store promotion. The data show success in some stores and limited response in others. To understand the differences between stores, the manager will probably next review the company's

implementation programs, to see if the promotion was handled consistently in the different stores.

Yolanda is the new restaurant manager in a major hotel. When considering changes in the restaurant that will increase value to customers, Yolanda will likely attempt to either provide the same quality at a lower cost or

improve products and services at the same cost.

Randall wants to do an online survey of college professors about the factors that influence their textbook selection. He would like to use a structured survey but is not sure what responses to include for each question. Randall could use __________ to help him develop his survey. surveys

in-depth interviews

After a product has been launched, marketers must undertake a critical postlaunch review to determine whether the product and its launch were a success or failure and what additional resources or changes to the marketing mix are needed, if any. For a product that does move on, the firms can measure the success of the new product by interrelated factors that include all of the following except

its satisfaction of the firm's manufacturing requirements.

The company that you work for, Mystical Jewelry, wants to analyze data that come from other sites, such as measuring where people have come from to get to Mystical's site. What would you recommend that your company use to determine how people searched the Internet to find its products? showrooming keyword analysis

keyword analysis

A __________ gap reflects the difference between customers' expectations and the firm's perception of those customer expectations.

knowledge

Josie feels pressure to increase sales, so she decides to purposely mark up the price on a new shipment of sweaters and then immediately put them on sale. Even though she is deceiving the customer, Josie justifies her decision by knowing that management will be pleased with the increase in revenue. However, Josie's decision may have serious consequences for the company in the long term. What does your text suggest as a way to avoid the consequences that can result from such behavior?

making sure the short-term goals of each employee are aligned with the long-term goals of the firm

Many marketing students initially overlook the importance of marketing channel management because

many of these activities take place behind the scenes.

A(n) __________ situation in B2B marketing is similar to limited problem solving in the B2C process.

modified rebuy

Many states create licensing requirements for a variety of professionals (such as lawyers and accountants) designed to restrict entry into their market by professionals from other states. This strategy limits ____________ growth strategies.

market development

To determine how attractive a particular market is, using the BCG portfolio analysis, __________________ is established as one axis

market growth rate

Data about how, when, why, where, and what people buy refers to

marketing analytics

Instagram is an example of which type of social media site?

media sharing

An advance in technology called RFID makes it easier for manufacturers, distributors, and retailers to track items through production, distribution, and sales. This advance helps the firm

meet inventory needs

American visitors to the Indonesian island of Bali are often aghast when they see the sign for the Swastika resort. Americans associate the swastika symbol with Nazi Germany while Indonesians associate the symbol with the four major elements on Earth. The two groups have different

perceptions.

Yolanda manages a Best Sleep Inn along an interstate highway. She knows from experience that 5 to 10 last-minute customers will call after 8 p.m. each evening looking for a room and asking the price. Yolanda has empowered her staff to offer discounts when the motel is largely vacant, and to quote the standard price when the motel is close to full. She knows her service is __________, meaning that if no one stays in the room, it generates no revenue that evening.

perishable

E-books, in addition to being an alternative product form, provide __________ value creation since they can be downloaded via the Internet immediately when and where they are needed.

place

Delta Airlines is among the companies experimenting with selling products and services on their Facebook pages. The idea is to make purchasing even easier for customers who may spend large portions of the day with Facebook active on their computers or mobile devices. There is no need even to navigate to Delta's website—users can book a trip in Delta's "Ticket Agent" application without ever leaving Facebook. Which element of the marketing mix does this represent?

place and value delivery

Burt's Bees mission statement to "create natural, Earth-friendly personal care products formulated to help you maximize your well-being and that of the world around you," was prepared during which phase of the strategic marketing planning process?

planning

In which phase of the strategic marketing planning process does the firm decide what level of commitment to its ethical policies and standards it is willing to declare publicly?

planning

A former advertising campaign for GEICO Insurance used the slogan "So easy, even a caveman could do it" to emphasize the ease of buying insurance on GEICO's website. This campaign was part of GEICO's

positioning strategy.

A demand curve shows the relationship between _______ during a specific period of time.

price and demand

Baby Boomers represent a huge demographic segment for travel marketers. Baby Boomers are also heavily motivated by self-fulfillment, which creates the possibility of __________ segmentation.

psychographic

Social media monitoring, in-depth interviews, and focus groups are all __________ research methods.

qualitative

Julia wants her firm's gourmet snacks to be the leading brand in the U.S. market. When adopting a pricing strategy designed to gain market share, she should remember that

rarely is the lowest-price offering the dominant brand in a market.

Company sales invoices, census data, and trade association statistics are examples of

secondary data.

Marketing executives at Diet Pepsi want to analyze the number of Diet Coke customers who switch to its product when Diet Pepsi is offered at a deep discount. What data would likely show this information?

secondary panel data

McDonald's introduced a Favorites Under 400 Calorie Menu as part of an attempt to reverse the perception that McDonald's sells only unhealthy food. Suppose that McDonald's, as a follow-up, collects and analyzes social media posts from Facebook, Twitter, and similar sites, hoping to understand whether or not consumer perceptions are improving. This would be an example of

sentiment mining.

If a B2B customer is satisfied with an existing supplier, it will probably engage in a(n) __________ to purchase additional quantities of the item.

straight rebuy

Manufacturers would prefer to produce in a country with a trade __________, because it signals a greater opportunity to export products to more markets.

surplus

Returnable packaging, use of 3D printing, and flexible packaging are examples of

sustainable packaging

Commercial research firms such as IRI, the National Purchase Diary Panel, and Nielsen are sources of

syndicated data.

All of the following were considered a new-to-the-world product or service when introduced except

the Mercedes mini sport utility vehicle, a smaller version of its larger SUVs.

A good marketer can identify potential opportunities by paying close attention to customer needs and continuously monitoring

the business environment in which the company operates.

Many product-dominant firms use quality service

to maintain a sustainable competitive advantage.

What is the objective of the last step in the ethical decision-making framework?

to weigh the various alternatives and choose a course of action

When Victoria's Secret offers different product lines, such as its Pink line, it is trying to capture the market by

using segmentation, targeting, and positioning.

Consider a bakery like Entenmann's: The majority of the ___________ costs are the cost of the ingredients, primarily flour.

variable

Bank of America uses a complex polling system coupled with a customer response measurement system to assess consumers' responses to new products and services. Bank of America is using a(n) __________ program to improve service quality and service offerings.

voice-of-customer

Beverly is assessing the results of a new product launch of a series of e-books for her bookstore. When evaluating the results, Beverly will likely consider all of the following except

why it took her so long to consider the new product line.

Suppose that you are the vice president of marketing for Target, the large retail store chain. You want to keep your website and in-store services current with technological advances. You might consider experimenting with what is most likely the next expected development in mobile technology, which is

wireless payments from mobile devices.

Whenever Valerie has a new massage therapy customer, she invites the person to be on her e-mail distribution list. In the process, in addition to exchanging her massage therapy service for payment, Valerie is gathering

information

Most banks now have customer relationship software which, when a customer contacts the bank, tells the service representative what types of accounts, loans, and credit cards the customer currently has. Service representatives use this information to sell some of the other services the bank currently offers to these customers. This is a ___________________ growth strategy.

market penetration

Though Asian Americans comprise only 6 percent of the U.S. population, they represent

the fastest growing minority population.

Of the various types of blogs, which one do marketers have the lowest level of control over? A. personal B. corporate C. professional D. corporate microblogs E. professional microblogs

A. personal

One important measure of social media's effectiveness is the percentage of site visitors who take the action the site owner hoped for—making a purchase, subscribing to a service, or donating money, for example. This measure is called the site's A. conversion rate. B. extended network. C. bounce rate. D. hits. E. click paths.

A. conversion rate

The Child Protective Act A. prohibits the sale of harmful toys and components to children. B. limits the number of commercials shown during children's programming. C. requires food manufacturers to display nutritional contents on product labels. D. prohibits the manufacture or sale of adulterated or fraudulently labeled food and drug products. E. regulates safety standards for consumer products.

A. prohibits the sale of harmful toys and components to children.

Whenever the president of the local public university promotes the institution, he emphasizes the university's price (much lower than neighboring private colleges) and high quality. He is positioning the institution based primarily on A. the value proposition. B. product attributes. C. symbols. D. competitive comparisons. E. profitability.

A. the value proposition.

The _____________ is the center of all marketing efforts. A. profits. B. the consumer. C. corporate social responsibility. D. top management. E. the firm.

B. consumer

The shared meanings, beliefs, morals, values, and customs of a group of people constitute their A. social concerns. B. culture. C. demographics. D. generational cohorts. E. religion.

B. culture

A buying center that makes its decisions by majority vote is a(n) ________ buying center. A. autocratic B. democratic C. consultative D. consensus E. bureaucratic

B. democratic

Once consumers have recognized a need, they begin to search for ways to satisfy that need. The internal search is characterized by A. looking through the internal records of a firm, often found on the company website. B. examining personal memories and knowledge. C. using the Internet to find what other consumers feel about a specific product or service. D. consulting close friends and families before expanding the search to a wider, external group. E. being influenced by advertising.

B. examining personal memories and knowledge.

Jenny's spending decisions are heavily influenced by her family, her peers, and her religious education. These influences on her spending decisions are all ________ influences. A. psychological risk B. external social environment C. physiological need D. cognitive need E. evoked set

B. external social environment

Some companies have been accused of taking advantage of the current social trend of green marketing, positioning their products as environmentally friendly when this may not actually be the case. This practice is called A. fake greening. B. greenwashing. C. greenbaiting. D. green puffery. E. red marketing.

B. greenwashing

When considering income as a demographic variable affecting marketing efforts, marketers need to recognize that A. everyone is equal. B. income in the United States has become more unevenly distributed. C. everyone has been equally affected by the recession. D. there is increasing purchasing power among lower-income groups. E. middle-income consumers are quickly becoming upper-income consumers.

B. income in the United States has become more unevenly distributed.

The Northwoods University IT department is planning to buy additional computers for the computer lab. Pedro Vechara, manager of the lab, is asked for a recommendation, and he suggests buying Macintosh computers instead of Windows PCs. What role does Pedro play in the buying center? A. gatekeeper B. influencer C. decider D. buyer E. initiator

B. influencer

What is a bounce rate? A. how users proceed through information on the site B. percentage of times a visitor leaves the site after viewing one page C. measure that indicates what percentage of visitors or potential customers act as the marketer hopes D. number of unique visitors to the site E. amount of traffic on the site

B. percentage of times a visitor leaves the site after viewing one page

The shift of population from the Rust Belt in the North to the Sun Belt in the South and Southwest will likely A. decrease national cultural identity. B. reduce regional cultural differences. C. make it difficult to collect demographic information. D. create a demand for a new generational cohort. E. make it more difficult for companies to differentiate their products.

B. reduce regional cultural differences.

Which of the following are commonly found in distribution and fulfillment centers to fill orders for stores or individual customers? A. mobile devices B. robots C. drones D. smartphones E. mobile hotspots

B. robots

In most countries, ________ is(are) among the largest purchasers of goods and services. A. the largest retailer B. the central government C. construction firms D. the intelligence agency E. hospitals

B. the central government

Which of the following statements accurately describes the current income distribution in the United States? A. The purchasing power of lower-income groups has been steadily rising. B. The middle class is outpacing all other income groups. C. Wealthy households are outpacing both poor and middle-class households. D. The income distribution among all households is becoming more equal. E. Wealthy households are declining rapidly in purchasing power.

C. Wealthy households are outpacing both poor and middle-class households.

Despite its vivid design, the website for Molly's Bookstore did not seem to attract customers who lingered. In fact, most website visitors left the site before they made a purchase. Which measure does the owner need to address? A. sentiment analysis B. page views C. bounce rates D. keyword analysis E. mobilization rates

C. bounce rates

Which of the following encourages visitors to delve deeper into a website, to explore other pages and, in general, spend more time on the site? A. downloadable bar codes B. mobile apps C. call-to-action buttons D. corporate blogs E. posted videos

C. call-to-action buttons

After the previous sales representative in his territory infuriated an important customer, Ben visited the customer once a month, never asking for business but hoping to rebuild trust through listening and expressing concern. Finally, after more than two years, the customer gave Ben an order. Ben was providing the important marketing function of A. advising production on how much product to make. B. alerting the logistics department when to ship products. C. engaging customers and developing long-term relationships. D. identifying opportunities to expand. E. synthesizing and interpreting sales, accounting, and customer-profile data.

C. engaging customers and developing long-term relationships.

Lamar owns four dry cleaning stores in the suburbs of Orlando, Florida. He recently updated his STP analysis, and has just finished adjusting his marketing mix based on the STP results. His next strategic marketing decision will most likely involve determining A. how Disney World crowds will impact his business. B. which employees to promote or fire. C. how to allocate resources among his four stores. D. what new government regulations might create opportunities or threats. E. when to shift from a customer excellence to an operational excellence strategy.

C. how to allocate resources among his four stores.

The most loyal customers use A. websites. B. mobile apps. C. multiple channels. D. desktop computers. E. in-store channels.

C. multiple channels

Every year before he puts his boat in the water, Jamie has his mechanic put a new battery in the boat. Jamie is most likely concerned with __________ risk. A. psychological B. financial C. performance D. social E. physiological

C. performance

Isabel loves to read and write. She started a blog about books, including writing hints and book reviews. The readership of her blog gradually increased, and eventually publishers started sending her new books, hoping she would review them. Over time, Isabel's blog has changed from a __________ blog to a __________ blog. A. professional; network B. professional; personal C. personal; professional D. personal; social E. social; network

C. personal; professional

Google and other search engines allow marketers to bid to have their ads shown when consumers search keywords related to the firm's products. These marketers are attempting to create value through A. product. B. price. C. promotion. D. place. E. cost-based measures.

C. promotion

One of the UN Sustainable Development Goals is to A. reduce stress through yoga. B. promote healthy meals. C. reduce hunger. D. eliminate artificial dyes from food. E. use only natural ingredients in foods.

C. reduce hunger

The greater the discrepancy between a consumer's needy state and the desired state, the greater A. time needed to satisfy the need. B. the effort consumers will invest in searching for alternatives. C. the consumer's need recognition will be. D. the size of the universal set will be. E. the amount of external information search will be needed.

C. the consumer's need recognition will be.

In the Circles for a Successful Value Proposition framework, the value proposition is represented by A. the intersection between customer needs/wants and competitors' benefits. B. the intersection between the firm's benefits and competitors' benefits. C. the intersection between customer needs/wants and the firm's product's benefits. D. the intersection between all three of the circles. E. the part of the firm's benefits that doesn't overlap with anything.

C. the intersection between customer needs/wants and the firm's product's benefits.

Firms typically repurchase office supplies (paper, ink cartridges, pens, etc.) through straight rebuys on their supplier's website. Should an office supplies sales rep stay in close touch with his or her current customers? Why or why not? A. No; this is a waste of time since straight rebuys are straightforward and easy to handle. B. No; the sales rep should be looking for new customers instead. C. Yes; straight rebuys require a lot of the sales rep's assistance. D. Yes; the sales rep might learn about a new opportunity in the need recognition stage. E. Yes; history has shown that online reordering can't be trusted.

D. Yes; the sales rep might learn about a new opportunity in the need recognition stage.

The United States imports more goods from China than it exports to China. This is known as A. gross national income (GNI). B. a trade surplus. C. gross domestic product (GDP). D. a trade deficit. E. an import imbalance.

D. a trade deficit.

Lisle Hair Company keeps track of the gender and age of its customers so it can target e-mails to them and be sure to have the right hair products in stock when they visit. This is an example of the use of ________ in marketing. A. innovation B. sustainability C. competition D. demographics E. competency

D. demographics

It is not unusual to see firms offering free product samples in grocery stores to let customers try the product before buying it. Similarly, in today's world of digital marketing, one can read a chapter of a book before buying it, or watch YouTube videos on different ways to use a product. All of these scenarios are aimed at which aspect of the 4E framework? A. engage B. energize C. excite D. experience E. educate

D. experience

Compared to the B2C process, the information search and alternative evaluation steps in the B2B process are A. decentralized. B. less focused on customer value creation. C. identical. D. more formal and structured. E. based on derived supply analysis.

D. more formal and structured.

Manitoba University is buying a distance learning system. Previously, the school had no distance learning technology. For Manitoba University this represents a(n) ________ situation. A. adapted buy B. modified rebuy C. straight rebuy D. new buy E. generic buy

D. new buy

Generational cohorts are groups of people of the same generation who have similar ________ because they have shared experiences and are in the same stage of life. A. regional cultures B. inflationary expectations C. political affiliations D. purchase behaviors E. cultural values

D. purchase behaviors

For years, when considering new products, marketers at Celestial Seasonings asked themselves, "What would Stacy think?" Stacy was a fictional character representing 25-50-year-old, educated, upper-income women who rarely watched television but did a lot of reading. "Stacy" represented Celestial's primary A. mission statement. B. positioning. C. SBU. D. target market segment. E. sustainable competitive advantage.

D. target market segment.

In the immediate marketing environment, the first factor that affects the consumer is A. demographics. B. cultural values. C. social trends. D. the company's capabilities. E. technological advances.

D. the company's capabilities

Kimberly is the sales representative for a major textbook publisher. When she calls on the business faculty at General University, she also tries to meet with several students to get their feedback on textbooks. She passes this feedback to her managers to guide the development of the publisher's future textbooks. The students are the ________ in the buying center. A. deciders B. initiators C. influencers D. users E. gatekeepers

D. users

A ________ is a type of reseller, a business that buys from other businesses but does not significantly alter the form of the products it buys. A. manufacturer B. producer C. consumer D. wholesaler E. factory

D. wholesaler

Insight Guides, a line of travel books, provides travelers with background information about people's beliefs, values, and customs in various parts of the world. Insight's books educate travelers about a country's A. social concerns. B. political parties. C. demographics. D. generational cohorts. E. culture.

E. culture

Which of the following statements reflects the philosophy of the market-oriented era?

The customer is king

Jeff is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to the volume he will sell monthly. He has researched his competition, talked to some customers, and decided on prices he will charge. Jeff has also developed a plan for promoting his business. Based on this description, which element of the marketing mix does Jeff still need to work on?

place

Marketers must consider the political and regulatory environment, which may have a profound impact on competition, promotion, product safety and the operation of the marketplace. Key players in this environment include all of the following EXCEPT

stock exchanges.

Andrew's Complete Cameras offers its customers an interactive website to help them choose the best camera for their lifestyle. But the site's most-used feature is its user blog in which customers—both satisfied and unsatisfied—talk about products they have purchased and the service received at Andrew's. The user blog best describes which of the 4E frameworks for the store's customers? A. engage B. energize C. excite D. experience E. educate

A. engage

Laws that prohibit the formation of monopolies or alliances that would damage a competitive marketplace benefit consumers through A. increased choices. B. higher prices. C. protection from false advertising. D. fair debt collection practices. E. fewer competitors.

A. increased choices

The political/regulatory environment comprises political parties, governmental organizations, and A. legislation and laws. B. citizens. C. interest groups. D. for-profit and nonprofit businesses. E. international influences.

A. legislation and laws.

Lauren decides to use Twitter to market her hand-painted scarves to other women on her campus. She sets up a Twitter account with the name @uniquedesignsbylauren and posts this on her Facebook page, making sure to tweet every few days. Soon Lauren is selling a lot of scarves. Lauren's Twitter account is an example of A. microblogging. B. media sharing. C. thought sharing. D. professional networking. E. social bookmarking.

A. microblogging

Of the seven primary motivations for mobile app usage, which one do people spend the most amount of time on each month? A. need for "me time" B. need for socializing C. need for shopping D. need for accomplishing E. need for self-expression

A. need for "me time"

What is the first sense triggered in a new setting? A. tactile sense B. taste sense C. visual sense D. olfactory sense E. auditory sense

C. visual sense

What is most likely to happen when inflation increases? A. Consumers buy more discretionary merchandise. B. Consumers buy fewer personal care and home entertainment products. C. Off-price and discount retailers suffer from lower sales. D. Consumers buy lower-priced foods. E. Consumers buy less food.

D. Consumers buy lower-priced foos

Compared to other groups, members of the _______________ generational cohort are more likely to marry and buy homes later in life, are more cynical, are shopping savvy and are considered to be astute consumers.

Generation X

Parties that work with the focal firm are its corporate partners.

T

Market research firms can provide information indicative of human population segments such as age, gender, race and income. This information can provide marketers with a "snapshot" of the typical consumer in a specific target market and are collectively referred to as

demographics.

In a SWOT analysis, increasing gasoline prices would represent a potential __________ for manufacturers of electric cars.

opportunity

Thought-sharing sites are particularly effective for creating. A. a sense of community B. excitement C. additional sales D. engaging content E. potential customers

A. a sense of community

The buying decision is likely to be most complex and take longest to complete in a(n) ________ B2B buying situation. A. new buy B. modified rebuy C. straight rebuy D. adapted buy E. generic buy

A. new buy

David bought a pickup truck to transport his equipment on weekend fishing trips. He also bought a trailer for his lawn maintenance business. His purchases were A. both B2C purchases since he is the user in both situations. B. both B2B purchases since he is the user in both situations. C. neither B2C nor B2B since he is the consumer and his uses might be mixed. D. B2C and B2B, respectively. E. B2B and B2C, respectively.

D. B2C and B2B, respectively.

Marketers wanting to use social media to reach consumers should understand that people in the ________ group were born into a world that was already full of electronic gadgets and digital technologies such as the Internet and social networks. A. Baby Boomers B. Generation W C. Generation X D. Generation Y E. Generation Z

E. Generation Z

If McDonald's wanted to change its marketing strategy in response to the social trends outlined in the text, it might consider all of the following ideas except A. offering an expanded menu of healthy options. B. making nutritional information readily available to consumers. C. using recycled paper in its food packaging. D. using solar power in its restaurants. E. creating an advertising campaign targeting elementary schoolchildren.

E. creating an advertising campaign targeting elementary schoolchildren.

Typical demographic data include all of the following EXCEPT A. gender. B. income. C. race. D. education. E. language differences.

E. language differences

Successful firms focus their efforts on satisfying customer needs that A. are easiest to satisfy. B. provide minimal core value. C. are important to all generational cohorts. D. competitors have tried and failed to satisfy. E. match their core competencies.

E. match their core competencies.

By paying close attention to customer needs and continuously monitoring the business environment in which it operates, a good marketer can identify potential opportunities.

T