MKGT Test 1

According to your text, what is typically the first sign of a problem that could prompt the marketing research process? a. Declining market share b. Increasing sales c. Declining sales d. Increasing employee turnover e. A departure from some normal function

A departure from some normal function

The real value in marketing research is measured by improvements in _______. a. a marketer's ability to make decisions b. profits c. the ability to eliminate focus groups d. a marketer's response to complaints e. market share

A marketer's ability to make decisions

Samuel spent $500 on a new television set. How much of this price is likely to go toward marketing expenses? a. $500 b. Between $100 and $200 c. About $100 d. About $250 e. About $450

About $250

If other organizational members approve of the activity and it is legal and customary within the industry, chances are that the activity is _______ from both an ethical and a social responsibility perspective. a. improper b. inappropriate c. moral d. acceptable e. unacceptable

Acceptable

Which of the following is the last step of establishing a marketing implementation timetable? a. Assigning responsibility for completing each activity to one or more employees, teams, or managers b. Organizing activities in the proper order c. Separating the activities to be performed in sequence from those to be performed simultaneously d. Determining the time required to complete each activity e. Identifying the activities to be performed

Assigning responsibility for completing each activity to one or more employees, teams, or managers

Which of the following creates the greatest privacy issues? a. Primary data b. Database c. Big data d. Single-source data e. Secondary data

Big data

Which of the following types of competition are geared toward market products with similar features and benefits to the same customers at similar prices? a. Monopolistic competitors b. Brand competitors c. Total budget competitors d. Product competitors e. Generic competitors

Brand competitors

Marketing cost analysis _______. a. uses sales figures to evaluate a firm's current performance b. breaks down and classifies costs to determine which are associated with specific marketing efforts c. is the firm's sale of a stated product as a percentage of industry sales of competing products d. is an expected level of performance against which actual performance can be compared e. assesses an organization's strengths, weaknesses, opportunities, and threats

Breaks down and classifies costs to determine which are associated with specific marketing efforts

Which of the following is NOT a component of the marketing plan? a. SWOT analysis b. Marketing implementation c. Executive summary d. Marketing strategies e. Business analysis

Business analysis

People are sometimes more willing to buy if they have the _______. a. buying power b. business cycle c. wealth d. disposable income e. discretionary income

Buying power

Lime is using social media to ask consumers about the qualities they desire in an electric scooter. The firm hopes to develop a new type of electric scooter based on the feedback it receives. Which marketing mix variable is Lime addressing? a. Promotion b. Pricing c. Product d. Distribution e. Exchange

C

Proactive organizations often seek to influence the political forces of the environment through _______ and _______. a. campaign contributions; bribes b. campaign contributions; lobbying c. campaign contributions; social media d. bribes; lobbying e. social media; lobbying

Campaign contributions; lobbying

Which of the following is a brand competitor for Dr Pepper? a. Honest Tea b. Almonds c. Tap water d. Coca-Cola e. Starbucks coffee

Coca-Cola

Mothers Fighting Added Sugar is sending emails to companies, posting on Facebook and Instagram, lobbying government agencies, running a petition on Change.org, and boycotting companies whose activities they deem irresponsible. This best illustrates _______. a. consumer protectionism b. lobbying c. crusading d. boosterism e. consumerism

Consumerism

Subaru developed a new luxury car model, but, after performing some market tests, it realized that it was pricing its vehicles too high, even for the luxury market. Subaru had to make some changes in its marketing mix. Unfortunately, it made the mistake of launching its product right when a recession hit. As unemployment rose, sales of luxury products such as Subaru's new luxury vehicle tend to decrease. In this case, the pricing of its vehicle is a(n) _______ force for Subaru, while the economic downturn is a(n) _______ factor. a. uncontrollable; controllable b. predictable; unpredictable c. unpredictable; predictable d. controllable; uncontrollable e. stable; unstable

Controllable; Uncontrollable

The unique symbols, personalities, and philosophies that support all corporate activities including strategic planning and marketing are best described as _______. a. corporate identity b. market share c. mission statement d. corporate strategy e. SWOT analysis

Corporate identity

Anthony works at a local electronics retailer. He has two customers in particular that he sees regularly. One customer, Mr. Johnson, comes in frequently asking about new deals. However, he rarely buys anything, and when he does buy something it is usually small. The other customer, Mr. Montoya, comes in a little less frequently. He does not purchase products all the time, but when he does the products are expensive. Anthony recognizes that Mr. Montoya is a more valuable customer over time than Mr. Johnson. He has therefore worked hard to develop a strong relationship with Mr. Montoya. What marketing method is Anthony most likely using to direct his actions? a. The marketing concept b. Customer feedback c. A customer loyalty program d. Customer lifetime value e. A sales orientation

Customer lifetime value

Which of the following equations describes customer value? a. Customer value= customer costs - customer benefits b. Customer value= customer benefits - opportunity costs c. Customer value= customer benefits - price d. Customer value= income - price e. Customer value= customer benefits - customer costs

Customer value= customer benefits - customer cost

Which stakeholders are the focal point of all marketing activities? a. Regulators b. Suppliers c. Employees d. Customers e. Communities

Customers

Which of the following is a collection of information arranged for easy access and retrieval? a. Single-source data b. Big data c. Database d. Marketing decision support system e. Marketing information system

Database

Ethics relates to individual and group decisions whereas social responsibility _______. a. links products to a particular social cause on an ongoing or short-term basis b. deals with the total effect of marketing decisions on the environment c. is the synergistic use of organizational core competencies and resources to address key stakeholders' interests and achieve both organizational and social benefits d. considers the diverse perspectives of stakeholders in their daily operations and strategic planning e. deals with the total effect of marketing decisions on society

Deals with the total effect of marketing decisions on society

Decision-making authority is delegated as far down the chain of command as possible in a(n) _______. a. strategic-business unit b. nonprofit organization c. marketing-oriented organization d. centralized organization e. decentralized organization

Decentralized organization

Marketers at Coca-Cola are exploring why sales of soft drinks have been declining in recent years, but sales of product competitors like bottled water and tea are rising. To understand the characteristics of this phenomenon in order to identify potential strategies to reverse the trend, they should conduct _______. a. descriptive research b. exploratory research c. stratified sampling d. experimental research e. nonprobability sampling

Descriptive research

Which marketing research process step requires formulating a hypothesis and determining what type of research is most appropriate for testing it? a. Designing the research project b. Collecting data c. Interpreting research findings d. Reporting research findings e. Locating and defining issues or problems

Designing the research project

_______ is a ready source of buying power. a. Discretionary income b. Income c. Disposable income d. Willingness to spend e. Credit

Disposable income

During the holiday season, a Bluetooth speaker was in such high demand that it sold out quickly at a local Walmart. When Walmart tried to order more, it learned that the suppliers had so many orders to fill that it would not be able to fill Walmart's order for two weeks. What type of marketing mix variable does this problem involve? a. Distribution b. Pricing c. Promotion d. Product e. Exchange

Distribution

Whether fluctuating rapidly or slowly, environmental forces are always _______. a. predictable b. controversial c. weak d. static e. dynamic

Dynamic

Which of the following involves observation; secondary sources such as business, trade, government, and general-interest publications; and marketing research? a. Proactive approach b. Environmental scanning c. Technology scanning d. Environmental approach e. Environmental analysis

Environmental scanning

What is the first step for marketers in implementing the marketing concept? a. Develop a feedback system so customers can describe their thoughts about a product b. Engage in personal selling or advertising to promote products that customers desire c. Establish an information system to discover customers' real needs d. Modify a communication system that allows information to be disseminated throughout the organization e. Modify existing products to meet customer needs more effectively

Establish an information system to discover customers' real needs

Which of the following is NOT one of the steps in strategic performance evaluation? a. Establishing performance standards b. Comparing actual performance with established standards c. Modifying the marketing strategy, if necessary d. Establishing a timetable for implementation e. Measuring actual performance

Establishing a timetable for implementation

According to your text, a well-implemented _______ and a strong _______ result in the greatest decrease in ethical risks for an organization. a. corporate culture; opportunity b. ethics program; corporate culture c. ethics program; regulatory system d. ethics program; opportunity e. regulatory system; corporate culture

Ethics program; corporate culture

The essence of marketing is to develop satisfying _______ from which both customers and marketers benefit. a. target markets b. marketing mixes c. values d. environmental factors e. exchanges

Exchanges

Which of the following provides an overview of the entire marketing plan so that readers can quickly identify the key issues and their roles in the planning and implementation process? a. SWOT analysis b. Environmental analysis c. Marketing implementation d. Performance evaluation e. Executive summary

Executive summary

Which of the following has the main purpose of better understanding a problem or situation and/or helping to identify additional data needs or decision alternatives? a. Conclusive research b. Descriptive research c. Experimental research d. Exploratory research e. Focus groups

Exploratory research

Which of the following regulatory agencies has the greatest influence over marketing activities? a. Food & Drug Administration b. Better Business Bureau c. Federal Trade Commission d. National Advertising Review Board e. Consumer Product Safety Commission

Federal Trade Commission

Experts recommend a two-pronged approach to international marketing research: (1) a detailed search for and analysis of secondary data; and (2) _______. a. focus groups to refine a firm's understanding of specific customer needs and preferences b. field research to refine a firm's understanding of specific customer needs and preferences c. telephone surveys to refine a firm's understanding of specific customer needs and preferences d. secondary research e. database mining to find and analyze big data

Field research to refine a firm's understanding of specific customer needs and preferences

Kraft Foods brings together multiple people to discuss a certain topic in a group setting led by a moderator for initial testing of different marketing strategies for new and existing products. This is best described as _______. a. descriptive research b. experimental research c. customer advisory boards d. conclusive research e. focus groups

Focus groups

Which of the following is NOT a purpose of marketing research? a. Gather random data b. Inform an organization about customers' needs and desires c. Inform an organization about changing attitudes and purchase patterns of customers d. Increase the marketer's ability to respond to customer needs e. Inform an organization about marketing opportunities for products

Gather random data

Sierra Nevada is the third best selling craft beer in the United States. It has many competitors that it must consider. Some of these competitors are obvious, but some are less so. The following are some of Sierra Nevada's competitors: •Tap water at a restaurant •New Belgium Brewing beer •Bottle of Merlot •Cigarettes Classify each of the above in order as one of the four types of competitors: a.total budget, brand, product, generic b.brand, product, generic, or total budget c.generic, product, brand, total budget d.generic, brand, product, total budget

Generic, brand, product, total budget

Research into marketing ethics suggests that the _______ associated with an issue, the more likely it will be recognized as an ethics issue and the more important it will be in making an ethical decision. a. lesser the consequences b. greater the price c. greater the consequences d. greater the value e. greater the publicity

Greater the consequences

An ethical issue in the area of promotion is _______, which occurs when products are promoted as being more environmentally friendly than they really are. a. green marketing b. greenwashing c. cause-related marketing d. product recalls e. sustainability

Greenwashing

Determine which of these Coca Cola products most likely qualifies as a dog. a)Coca-Cola b)Sprite Zero c)Hi-C d)Dasani

Hi-C

Which of the following is NOT an example of a sociocultural force? a. Southern food like sweet tea, grits and boiled peanuts b. Increasing diversity of American population c. "Pop" vs. "soft drink" vs. "Coke" d. Tailgating before college football games

Increasing diversity of American Population

Which country shown below has the highest reported rate of retaliation for whistleblowers? A. China B. United States C. India D. Mexico E. United Kingdom

India

Marketing environmental forces are often _______. a. interdependent b. stable c. non-influential d. easy to predict e. controllable

Interdependent

Which of the following sentences is true about a marketing exchange? a. It requires four conditions to take place. b. Seeing an advertisement is an example of an exchange. c. Products in an exchange must be traded for money. d. An exchange only needs to provide a benefit to one party. e. An exchange will always take place if four conditions are met.

It requires four conditions to take place

Ethical choices in marketing are most often made _______. a. at church b. at home c. jointly d. in a vacuum e. individually

Jointly

The ability of competitors to achieve long-term competitive advantages by entering the market later and not being the first to offer a certain product in the marketplace is called _______. a. early-mover advantage b. competitive advantage c. core competency d. late-mover advantage e. first-mover advantage

Late-mover advantage

Which of the following is most closely related to the political forces of the marketing environment? a. Technological forces b. Competitive forces c. Sociocultural forces d. Economic forces e. Legal and regulatory forces

Legal and regulatory forces

Which of the following is used most often when the individuals in the sample are spread over a wide area and funds for the survey are limited? a. On-site computer interview b. Mail survey c. Telephone survey d. Personal interview survey e. Shopping mall intercept interview

Mail survey

Which of the following competitive growth strategies strives to increase sales of current products in new markets? a. Market penetration b. Market share c. Diversification d. Product development e. Market development

Market development

When the right combination of circumstances and timing permits an organization to take action to reach a particular target market, there exists a(n) _______. a. strategic window b. competitive advantage c. core competencies d. market opportunity e. weakness

Market opportunity

The marketing concept is based upon the idea that an organization should try to provide products that satisfy customers' needs through a coordinated set of activities that also allows the organization to achieve its goals. During which orientation (time period) are marketers most likely to adopt the marketing concept? a. Production orientation b. Market orientation c. Exchange orientation d. Promotion orientation e. Sales orientation

Market orientation

ACME Corp. is identifying and using tools to measure and interpret the effectiveness of its marketing activities. This is best described as _______. a. marketing information system b. marketing decision support system c. marketing analytics d. marketing research design e. big data

Marketing analytics

ACME Corp. is adopting a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities that its stakeholders expect of it. This best describes _______. a. stakeholder orientation b. marketing citizenship c. cause-related marketing d. social responsibility e. ethics

Marketing citizenship

Which of the following is based on the philosophy that a product's market growth rate and its market share are important considerations in determining marketing strategy? a. SWOT analysis b. Sales analysis c. Product-market matrix d. Mission-goal matrix e. Market growth/market share matrix

Marketing growth/market share matrix

Which of the following is a major benefit of marketing? a. Marketing activities are relatively low in cost. b. Marketing prevents the sale of harmful products. c. Marketing is the most important function of a business. d. Marketing knowledge enhances consumer awareness. e. Marketing activities do not take up much time.

Marketing knowledge enhancing consumer awareness

A _______ states what is to be accomplished through marketing activities. a. marketing objective b. mission statement c. marketing strategy d. performance standard e. market opportunity

Marketing objective

Performance standards are derived from _______. a. the mission statement b. market opportunity c. marketing objectives d. marketing strategy e. sales analysis

Marketing objectives

Which of the following provides a uniform marketing vision for the firm and is the basis for internal communications? a. Target market b. Performance standard c. Mission statement d. Marketing plan e. Marketing strategy

Marketing plan

ACME Corp. managers are engaged in the process of systematically designing, collecting, interpreting, and reporting of information to help solve specific marketing problems or take advantage of marketing opportunities. This approach is best described as _______. a. marketing research b. descriptive research c. experimental research d. exploratory research e. focus groups

Marketing research

Which of the following is NOT an example of illegal anticompetitive practices? a. Stealing trade secrets b. False advertising c. Obtaining confidential information from a competitor's employees d. Mislabeling products e. Price fixing

Mislabeling products

_______ considers cases in which an advertiser challenges issues raised by the National Advertising Division (NAD) about an advertisement. a. Consumer Product Safety Commission (CPSC) b. Better Business Bureau (BBB) c. Federal Trade Commission (FTC) d. National Advertising Review Board (NARB) e. Bureau of Consumer Financial Protection

National Advertising Review Board (NARB)

In the absence of ethics and compliance programs, employees will generally make decisions based primarily on their _______. a. observations of how society behaves b. assessment of the law c. personal values d. financial situation e. observations of how coworkers and superiors behave

Observations of how coworkers and superiors behave

Which of the following types of competitive structure often exists because of the difficulty and expense of entering a market? a. Monopolistic competition b. Oligopoly c. Monopoly d. Pure competition e. Brand competition

Oligopoly

Which of the following is often a better predictor of unethical activities than are personal values? a. Organizational relationships b. Organizational pressure c. Opportunity d. The CEO e. Individual factors

Opportunity

What 3 factors influence the ethical decision making process? A. individual factors, organizational relationships, societal norms B. organizational relationships, opportunity, individual factors C. opportunity, organizational culture, individual ethics D. individual factors, organizational culture, societal norms

Organization relationships, opportunity, individual factors

ACME Corp. is striving to foster a set of ethical values, beliefs, goals, norms, and rituals that members of an organization share. This is best described as _______. a. organizational culture b. social responsibility c. opportunity d. marketing citizenship e. code of conduct

Organizational culture

The strategic planning process begins with _______. a. organizational mission and goals b. marketing objectives c. business-unit strategies d. SWOT analysis e. finance objectives

Organizational mission and goals

Which answer below correctly indicates the components of the marketing mix? a. production, price, place, promotion b. production, price, placement, promotion c. product, price, place, promotion d. product, price, placement, promotion

Product, price, place, promotion

Which of the orientations is sometimes exhibited by modern high tech firms? a. production orientation b. product orientation c. sales orientation d. marketing orientation

Production orientation

Because marketing managers are relying more on marketing research, marketing information systems, and new technologies to make better decisions, it is essential to establish _______ by which to judge the reliability of marketing research. a. professional standards b. big data c. validity d. single-source data e. global standards

Professional standards

Lumos Labs, the maker of brain-training app Lumosity, released advertisements that claimed its app was able to prevent Alzheimer's. The Federal Trade Commission fined Lumos Labs $2 million, saying that the company did not have the science to back up its ads. What type of marketing mix variable is involved in this situation? a. Promotion b. Product c. Distribution d. Exchange e. Pricing

Promotion

ACME Corp. managers view environmental forces as uncontrollable and thus adjust their marketing strategies to changes in the marketing environment. This approach is best described as _______. a. proactive b. static c. reactive d. controversial e. offensive

Reactive

During which of the following economic conditions does unemployment begin to decline, total disposable income increase, and consumers' willingness to buy begin to rise? a. Depression b. Business cycle c. Prosperity d. Recovery e. Recession

Recovery

Sheryl works at Southwest Airlines as a digital marketer. A major part of her job is communicating with customers, answering questions and letting them know about how the airline offers them the best in customer value. Sheryl is working to create long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges with customers. This is an example of _______. a. relationship marketing b. a sales orientation c. customer lifetime value d. customer loyalty programs e. the marketing mix

Relationship marketing

Charlotte loves her mom's edible cookie dough recipe, and she assumes everyone else will too. She starts a cookie dough business. Charlotte views promotion, such as advertising and personal selling, as the most important activities needed to sell her product. She figures that consumers only have to learn about her product before becoming loyal and steadfast customers. What type of orientation does Charlotte seem to embrace? a. Promotion orientation b. Exchange orientation c. Market orientation d. Production orientation e. Sales orientation

Sales orientation

Which of the following aspects of technology relates to the fact that technology acts as a catalyst to spur even faster development? a. Disruption b. Internet c. Dynamics d. Self-sustaining e. Reach

Self-sustaining

Chipotle is conducting a research study that divided the population of interest into groups according to a common attribute, and then a random sample was chosen within each group. This best describes _______. a. quota sampling b. random sampling c. stratified sampling d. probability sampling e. nonprobability sampling

Stratified sampling

Customers choose to go to Buffalo Wild Wings based upon the value they place on the total product—including the food, service, atmosphere of the restaurant, and more. The process consumers use to determine value is highly _______. a. detailed b. subjective c. narrow d. scientific e. objective

Subjective

Which of the following is the potential for the long-term well-being of the natural environment, including all biological, as well as the interaction among nature and individuals, organizations, and business strategies? a. Consumerism b. Marketing citizenship c. Cause-related marketing d. Sustainability e. Ethics

Sustainability

Kroger decided to introduce a new product that appeals to Hispanic consumers. While the product is highly successful among Hispanic consumers, other ethnic groups seem to like the product as well. For this product, Hispanic consumers comprise Kroger's _______. a. exchange b. target market c. community d. marketing environment e. marketing mix

Target Market

A marketing strategy is the selection of a(n) _______ and the creation of a(n) _______ that will satisfy the needs of target-market members. a. target market; marketing plan b. marketing objective; marketing plan c. marketing objective; marketing mix d. target market; marketing mix e. marketing mix; target market

Target market; marketing mix

At ACME Corp., managers are trying to foresee the effects of new products and processes on their firm's operations, on other business organizations, and on society in general. This is best described as _______. a. environmental scanning b. technology scanning c. technology assessment d. SWOT analysis e. environmental analysis

Technology assessment

When an ethical issue arises in the supply chain, which of the following is most likely to be held accountable for misconduct? a. The channel member selling the product b. The channel member making the product c. The channel member wholesaling the product d. The channel member shipping the product e. The channel member managing the product

The channel member managing the product

The growing demand for health-care services, recreation, tourism, retirement housing, and selected skin-care products most closely relates to _______. a. the demographic characteristic of age b. consumerism c. the demographic characteristic of marital status d. the demographic characteristic of gender e. cultural values

The demographic characteristic of age

Which of the following is the major source of cultural values? a. The workplace b. The family c. Laws and regulations d. Social class e. Religion

The family

Which of the following promises consumers fair treatment when they complain to marketers about products? a. The right to be heard b. The right to safety c. The right to lower prices d. The right to be informed e. The right to choose

The right to be heard

Which of the following do codes of ethics NOT do? a. They let employees know both what is expected of them and what kind of punishment they face if they violate the rules. b. They help marketers deal with ethical issues or dilemmas that develop in daily operations by prescribing or limiting specific activities. c. They promote ethical behavior by reducing opportunities for unethical behavior. d. They specify formalized rules and standards that describe what the company expects of its employees. e. They take every situation into account.

They take every situation into account

When conducting a SWOT analysis, which of the following are barriers that could prevent an organization from reaching its objective? a. Market opportunity b. Strengths c. Opportunities d. Weaknesses e. Threats

Threats

An essential element of communicating with marketing employees is _______. a. the marketing mix b. the target market c. strategy d. training e. objectives

Training

You are advising a local nonprofit on strategy. The nonprofit supports cancer research and relies entirely on donations. You recommend that the nonprofit engage in marketing activities. The executive director tells you that because it is a nonprofit that does not engage in selling activities and has a small budget, the nonprofit has no use for marketing. You disagree and explain that marketing is not just for for-profit organizations. You explain the different ways the nonprofit can engage in marketing without changing its practices or the mission. Which of the following marketing activities would be most feasible for this nonprofit? a. Purchase an advertisement in a state newspaper that is popular in the local community about the nonprofit b. Use inexpensive digital marketing tools to inform the community about an upcoming fundraising event c. Get volunteers to sell T-shirts and other items at the nonprofit's major events d. Engage in extensive marketing research to determine what its contributors want e. Send out coupons for the organization's products in the local bulletin

Use inexpensive digital marketing tools to inform the community about an upcoming fundraising event