MKT 472: Advanced Marketing

CRM is a fairly inexpensive system for managing customer touchpoints.

FALSE

pro-social or purpose marketing refers to practices of socially responsible firms like Panera that incorporate doing well by doing good

TRUE

some firms come close to one-on-one marketing by employing mass customization

TRUE

every time Tameeka pays bills for her cell phone or car insurance, services that are meaningful to her, she is practicing the central tenet of marketing called

exchange

A luxury car dealership assigns a service representative to each customer. This service rep handles all routine and emergency service appointments, writes thank-you letters, and lets the car owner know when the next service date is anticipated. This dealership has adopted a ________ approach

relationship orientation

The concept of being able to get either secondary or primary data on a market being considered for segmentation means ________.

the market is readily identifiable and can be measured

Amazon.com offers a wide variety of products for delivery to the consumer. Its source of differentiation is ________.

convenience leadership

________ is not a support service in the value chain.

customer service

To remain competitive, firms collect intelligence on a number of external factors. Information related to population change is referred to as ________ information.

demographic

Fun Time Corp. has decided to move production of its board games for children and adults from the United States to Mexico to realize cost savings. At the same time, the company has decided to make Spanish-language versions of the games and distribute them in Central and South America. Most likely Fun Time is pursuing a strategy of ________.

growth/concentration based on horizontal integration

As the marketing manager of Tiny Tire Company, you are interested in assessing whether it is possible to decrease the amount of time between customers' tire replacement services and also whether it is possible to increase average transaction amounts through add-on sales. You decide to consult your CRM system to ________ customers' current orders.

identify the frequency and size of

When a company has doubtful positioning, consumers view the claims made by the company as ________.

lacking credibility

The GE Business Screen dimension of market attractiveness includes all but ________.

market share by segment

when a company is focused on uncovering needs that consumers do not realize they have, it is said to be a _____ firm

market-driving

The CEO of Online Clothing Retailer is interested in learning about how customers navigate his company's website. He asks ABC Research to set up a tracking program that describes how customers move around the site. ABC uses ________ to collect the data.

mechanical observation

Data collected specifically for the research question under consideration are called ________ data.

primary

Gen Y consumers are much more receptive to electronic commerce as a primary means of receiving marketing communication and purchasing than their parents and grandparents. The marketing change driver represented is

shift in generational values and preferences

The manager of ABC Brands has large amounts of data on customers, employees, suppliers, and retailers from her marketing information system. She would like to know what important insights the data hold, but she does not have the software to unlock this information. The manager should purchase ________ software.

statistical

A beer manufacturer has noticed that the cost of hops has increased four times in the last year. A description of this would be found in the ________ SWOT analysis.

threats

Jean-Paul uses his smartphone to check the balance in his checking account before buying concert tickets with his debit card. Jean-Paul enjoys ________ utility

time and place

peter drucker, the father of modern management, stated that the functions of an organization are(is)

to market and to innovate

Segmenting means ________.

Dividing the market into meaningful smaller markets based on common characteristics

Qualitative research is less structured than quantitative research, making it more useful when performing statistical analysis.

FALSE

When consumers order a newspaper subscription, they want the paper delivered early in the morning so that they can read it before setting out for the day. It appears that newspaper publishers are offering form, time, and place utility but not ownership utility.

FALSE

marketers should decide on the positioning strategy before choosing a target market

FALSE

one weak link in the value chain is usually not noticed by consumers

FALSE

social class is a significant variable in the middle class

FALSE

value may be defined as the ratio of benefits to monetary costs.

FALSE

According to the BCG matrix, a business that is classified as a cash cow has high market share and low growth.

TRUE

Exploratory research is useful for clarifying the research problem so that testable hypotheses can be developed.

TRUE

Focus groups bring together 6 to 10 people for an unstructured, rich discussion that is guided by a moderator

TRUE

Marketing research is called for when the answer to a specific problem or issue is not available from a firm's market information system or other sources.

TRUE

The GE Business Screen portfolio analysis uses three levels—high, medium, and low—to rank business position and market attractiveness.

TRUE

When consumers have too narrow an understanding of the company, brand, or product, the company suffers from overpositioning.

TRUE

Yum Yum Yogurt Shop wants to survey its customers about their recent experiences. Yum Yum has a database with all 100,000 customers who have been to the shop. The company will randomly select 10 percent of those customers to call and survey about their experience. Yum Yum Yogurt Shop is using a probability sampling method.

TRUE

a firm with production orientation assumes that "if you build it they will come"

TRUE

little m marketing refers to tactics and programs the firm uses to reach its stakeholders

TRUE

of all the business fields, marketing is most visible to people outside the organization

TRUE

target marketing is the process of evaluating market segments and deciding which among them shows the most promise for development

TRUE

When Bernard, a marketer, says that a segment has sufficient size, he means ________.

The market has an expected return-on-investment that is positive