mkt final

Which of the following survey methods has the potential to offer quick response at a lower cost than traditional mail and telephone surveys?

Online surveys

PepsiCo has recognized the significant increase in population diversity within the U.S. soft-drink market. Which one of the following best illustrates the company's integration of this knowledge into its marketing strategy?

Ads featuring Hispanic actors and Tejano music

_______________ are online marketplaces where buyers and sellers from around the world can exchange information, goods, services, ideas, and payments.

B2B e-commerce sites

When Hunter Ceiling Fans buys electrical wire for use in producing its ceiling fans, Hunter is part of what type of market for electrical wire?

Business

What is a primary difference between business and consumer buyers?

Business buyers generally make larger orders than consumer buyers.

____ are formalized rules and standards that describe what a company expects of its employees in terms of ethical behavior.

Codes of conduct

Once a company makes a long-term commitment to a foreign market that has a promising political and economic environment, which of the following options then emerges as a possibility?

Direct ownership

What is the main problem with using a market test as a forecasting tool?

Expensive

Jordan and Cindy are searching for an apartment. They will most likely engage in which one of the following forms of decision making?

Extended decision making

Levi Strauss markets its denim jeans in many countries and develops its marketing strategy as if the world were a single market. This approach to selling a standardized product in all countries represents which type of international marketing?

Globalization of markets

Which of the following products is most likely to have its market segment based on age?

Legos

Verizon implements a program of texting its current customers to find out what changes they would like to see in the services provided. The firm is exhibiting characteristics associated with which of the following orientations?

Market

Walmart is currently expanding its stores into Canada and Mexico. This expansion is being facilitated by the

North American Free Trade Agreement.

Sterling is a corn farmer. He sells his corn to stores such as Kroger. What type of competitive structure does Jerry most likely operate in?

Pure competition

Panera wants to collect data about employee satisfaction within its organization. It decides to survey a sample of 500 employees by having a computer program automatically pick which employees will be in the sample. If it uses the payroll database as the list of names to choose from, which type of sampling method is Panera using?

Random sampling

Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship?

Satisfaction for both the buyer and seller

The U.S. Army recruits soldiers based on the slogan, "Army Strong," implying that people can reach their full personal potential in the U.S. Army. This is an appeal to what need according to Maslow's hierarchy of needs?

Self-actualization

If all the gas stations in a city collaborated to determine what gas prices should be charged, they would be violating the

Sherman Antitrust Act.

Dell Electronics is very interested in taking advantage of business opportunities in India but does not have access to India's market. Dell has the patent on a low-cost, quality computer system that could assist small businesses in India. Sony Computer, Dell's competitor, is experienced in India's small business market but does not have a computer comparable to Dell's. If Dell and Sony work together to utilize these strengths to seize this opportunity in India, what type of business structure would they likely use?

Strategic alliance

Which of the following regulatory groups is a system of nongovernmental, independent, local regulatory agencies supported by local businesses?

The Better Business Bureau

Which of the following would be considered an institutional buyer?

The United Way

Which of the following agreements provides a forum for tariff negotiations, reducing trade restrictions, resolution of international trade problems, and ground rules for international trade?

The World Trade Organization

Most business buying decisions are made by

a firm's buying center

An informed guess or assumption about a certain problem or set of circumstances is known as

a hypothesis.

​SUP ATX is the largest stand-up paddle board maker based in Austin, Texas, that markets their products directly to consumers via their website. SUP ATX mission is to spread the sport of stand up paddle surfing from oceans to lakes and rivers around the world. Stand up paddle surfing or boarding is a relatively new sport but is growing due to the relatively low price of the boards, ease in transportation and storage of the boards as well as the sport providing a fun way to exercise and allow users to enjoy the outdoors. Which of the following would be the "best" target market for SUP ATX paddle board products?

active adults aged 24 to 40 who enjoy outdoor recreational activities

The ____ is the difference in value between a nation's exports and its imports.

balance of trade

For the Christmas season, a major toy retailer decided to donate to Angel Tree, an organization that provides gifts to the families of those who are incarcerated. The retailer claimed that it would donate 10% of the proceeds of all toys sold in the month of December to the Angel Tree organization. This is an example of

cause-related marketing

Children often achieve ____ by observing parents and older siblings in purchase situations and then through their own purchase experiences.

consumer socialization

An organization that decides to buy all of a certain part from the same company is using

sole sourcing

Firestone is a manufacturer and marketer of tires for new passenger cars. In recent years, the company's business has declined because of the overall decrease in consumer demand for new cars. In this case, the demand for Firestone's tire products is said to be ____ since it depends on the demand for new cars.

derived

Julia was reviewing her bank statement for last month. She had paid her rent, her car payment, electric and phone bills, and made three trips to the grocery. Julia had also bought tickets to an Ariana Grande concert and new clothes to wear to the concert. The money spent on Julia's rent, car, electric, and phone bills was likely from her ____ , while the money spent on the concert tickets and new clothes was from her _____.

disposable income; discretionary income

Collecting information from secondary sources such as business, government, trade, and general-interest publications plays an important role in

environmental scanning

If Papa John's wants to determine the impact of different coupon offers on pizza unit sales, it needs to conduct

experimental research.

When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n)

expert forecasting survey

When more information is needed about a problem and a tentative hypothesis needs to be made more specific, marketers usually conduct ____ research.

exploratory

Evan has just been hired as a product manager for a major technology firm. Currently, he is making purchases for his new apartment and upcoming job. His purchase of _____ would most likely be done through extended decision making, while his purchase of ____ would be made through limited decision-making behavior.

flat screen TV; bath towels

Laurel Dudley and seven other people were paid to get together and discuss a new product idea proposed by Johnson & Johnson. Researchers observed the interaction of the group. During the discussion, Laurel was annoyed that Seth, another participant, seemed to "hog" the discussion and didn't give others a chance to speak. This is an example of a problem when using

focus-group interviews

TONI&GUY is a global hairdressing and education business headquartered in England. It has recently opened salons in Mongolia, adding to its numerous salons worldwide. TONI&GUY allows foreign businesspeople to use its name, logo, methods of operation, advertising, and products. In exchange, TONI&GUY receives a financial commitment and an agreement to conduct business in accordance with its standard of operations. TONI&GUY is engaging in

franchising

All of the following are marketer-dominated sources of information except

friends

Brad Glickman of WP International, a major marketer of word-processing software, calls the secretary of Raine Dorchette, director of purchasing for MMK, Inc. He sets up an appointment to discuss an upcoming purchase of software. The secretary plays the role of ____ in this purchase decision.

gatekeeper

Most markets for products are made up of individuals or groups with diverse needs for products and are called ____ markets.

heterogeneous

Marketers use a variety of characteristics to segment markets they are interested in pursuing. When segmenting consumer markets, demographic variables are normally used. All of the following are demographic characteristics used by marketers to segment markets except

hometown.

The Church of the Latter Day Saints has used advertising for many years, airing a commercial TV spot that shows parents actively playing games with their children. The Church is using marketing to promote its

ideas.

When products are introduced into one nation from another, acceptance is far more likely

if there are similarities between the two cultures.

Marketing planning and ______ are closely linked in successful companies.

implementation

The purchase of products from a foreign source is called

importing.

The amount of money received through wages, rents, investments, pensions, and subsidies is called

income.

During the evaluation of alternatives stage of the consumer buying decision process, framing most likely influences the decision process of ____ buyers.

inexperienced

King Mechanic is a very profitable automobile repair shop. The company is well known for its great service and involvement in the community, but it fails to properly dispose of its used oil as outlined in environmental regulations. King Mechanic is failing in its ____ responsibilities.

legal

A major determining factor in deciding which type of decision-making process should be used depends on the individual's intensity of interest in a product and the importance of the product for that person. This is known as an individual's

level of involvement

Jack spends most of his free time participating in extreme sports and traveling to exotic locations with a group of close friends who share his interests and opinions about most things. This is a description of Jack's

lifestyle.

Pepsi executives realized that more consumers are concerned with health. It has since expanded into the bottled water and bottled juice markets. This is an example of a firm identifying and capitalizing on a

market opportunity

General Electric calculates that the total number of light bulbs sold to consumers in the next year by all light bulb producers is 1 billion, given anticipated marketing efforts by the firms involved. This figure represents the industry's

market potential

The percentage of a market which actually buys a specific product from a specific company is referred to as that product's

market share

A marketing manager for a small laptop manufacturer is analyzing the potential effects of political, legal, sociocultural, and economic forces on the firm's operations. The marketing manager is examining the ____ that influence(s) the firm's strategy.

marketing environment

Soft drink sales are declining as more consumers are concerned about their health. This represents a change in the __________. As a result, soft drink companies have begun releasing smaller sized soft drinks and soft drinks with less sugar.

marketing environment

A valid study

measures what it is supposed to

If Procter & Gamble, the maker of Dawn dishwashing liquid, wants to know what percentage of customers examine product labels before making a product selection in the grocery store, it can best gain this information through

observation

Designing research procedures that produce reliable marketing data means that

others using the same procedure will get almost identical data.

The unification of Europe through the European Union (EU)

permits virtually free trade among the member nations of the EU

McDonald's supports and funds Ronald McDonald houses for the families of terminally ill children to stay in to be near their loved ones. McDonald's action demonstrates the fulfillment of ____ responsibility.

philanthropic

The International Company needs information about trends in housing starts and remodeling around the country. Since it will be difficult to collect _______ from the numerous locations, it decides to use _____ data from the U.S. Department of Commerce reports to get this information.

primary; secondary

The two basic types of sampling that marketing researchers use are

probability and nonprobability

If China, in an attempt to bolster the sales of its own auto manufacturers, decided to limit the number of automobiles that could be brought in from other countries, China would be using a(n)

quota.

Pointing out any deficiencies and the possible reasons for them should be done in the ____ step of the marketing research process.

reporting research findings

Consumers tend to remember information inputs that support their feelings and beliefs and forget inputs that do not. This is known as selective

retention.

The most significant factor influencing a buyer's level of involvement is

risk

Samantha is going to the store to buy milk and cereal. She will most likely use ____ in her consumer decision-making process.

routinized response behavior

The objective of sampling in marketing research is to

select representative units from a total population

The three major categories of influences on the consumer buying decision process are

situational influences, social influences, and psychological influences.

Honeybees are disappearing at an alarming rate, and since they pollinate about a third of all the foods we eat, it is an important concern. That's why Ben & Jerry's launched a microsite to increase the awareness of the issue. In addition, it launched a "Twitcause" campaign on Twitter, raising $7,000 in two days. This example illustrates the positive consequences of

social responsibility

Based on the work by the Boston Consulting Group, products with a dominant share of the market and good prospects for growth are

stars.

A company's customers, employees, shareholders, suppliers, governments, communities, and competitors comprise its

stockholders

The United States Army purchases uniforms from a single supplier. For the last 25 years, the trousers purchased from this supplier have not changed and have been bought every six months, in seven different sizes. This example is called a

straight rebuy

Within a business organization, a profit center that is self-supporting in terms of sales, markets, production, and other resources is known as a

strategic business unit

Kashi Heart to Heart cereal is aimed at people concerned about their heart health. These people represent the Kashi

target market.

Consumerism is

the efforts of independent individuals, groups, and organizations to protect the rights of consumers

​Distribution, price, promotion, and product are all elements of

the marketing mix

​Marketing activities are

used by all sizes of organizations including for-profit, nonprofit, and government agencies.

​Marketing is the process of

​creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment.

​Long-term relationships with profitable customers is the key objective of

​customer relationship management

A marketing plan

​provides a framework for implementing and controlling marketing activities.

​The marketing concept focuses on

​satisfying customers' needs in a way that helps to achieve organizational objectives.