MKTG 409 - Exam 1

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

A departure from some normal function

Which of the following consists of three major components: cognitive, affective, and behavioral? a. Motive b. Lifestyles c. Learning d. Personality e. Attitude

Attitude

Online marketplaces where buyers and sellers can exchange information, goods, services, ideas, and payments are best described as _______. a. B2B e-commerce sites b. online auction sites c. buying centers d. B2C e-commerce sites e. corporate websites

B2B e-commerce sites

Which of the following refers to the strategic process of distributing, promoting, and pricing products, and discovering the desires of customers using digital media and digital marketing? a. Electronic marketing b. Social networking c. Digital marketing d. Mobile marketing e. Digital retailing

Electronic marketing

Which of the following are often a political necessity because of nationalism and government restrictions on foreign ownership? a. Strategic alliances b. Direct investment c. Outsourcing d. Contract manufacturing e. Joint ventures

Joint ventures

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

Marketing plan

When retailers go to great lengths to create physical settings that appeal to their target market and are conducive to making purchase decisions, they are attempting to shape which of the following influences on consumer buying behavior? a. Situational b. Enduring c. Psychological d. Social e. Cultural

Situational

Which of the following provides time utility by enabling firms to compensate for dissimilar production and consumption rates? a. Transportation b. Inventory management c. Order processing d. Materials handling e. Warehousing

Warehousing

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. nonprobability sampling b. experimental research c. stratified sampling d. descriptive research e. exploratory research

descriptive research

If a furniture maker targets the consumer and business markets for office desks with separate marketing mixes for each, it is using the _______. a. heterogeneous strategy b. undifferentiated strategy c. differentiated strategy d. homogeneous strategy e. concentrated strategy

differentiated strategy

If PetSmart began to acquire very successful local pet stores, this would be an example of _______. a. digital integration b. horizontal integration c. channel power d. multichannel integration e. vertical integration

horizontal integration

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

marketing objective

An internal energizing force that directs a person's activities toward satisfying needs or achieving goals is best described as _______. a. perception b. attitudes c. self-concept d. learning e. a motive

motive

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

organizational mission and goals

For most firms, the early stages of international development are often _______ and not fully _______. a. informal; improvised b. informal; implemented c. formal; implemented d. formal; planned e. informal; planned

. informal; planned

The marketing environment includes _______, economic, political, legal and regulatory, technological, and _______ forces. a. competitive; sociocultural b. global; marketing c. community; ethical d. monetary; sociocultural e. customer; cultural

???

Which of the following statements about the marketing environment is false? a. Marketing environment forces are uncontrollable, so marketers do not plan for them. b. Marketing environment forces can fluctuate quickly and dramatically. c. The marketing environment influences customers by affecting their lifestyles, standards of living, and preferences and needs for products. d. Marketing environmental forces often shape a marketer's decisions and actions. e. The marketing mix variables are easier to control than the marketing environment.

A. Marketing environment forces are uncontrollable, so markets do not plan for them.

When McDonald's decided to eliminate artificial flavorings and preservatives from its vanilla ice cream, it was most likely responding to which of the following? a. Marketing environment forces b. Sales orientation c. Changes in the marketing mix d. Changing regulations e. Customer lifetime value

A. marketing environment forces

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

About $250

Which of the following represents the most people? a. Southern Common Market (MERCOSUR) b. North American Free Trade Agreement (NAFTA) c. Asia-Pacific Economic Cooperation (APEC) d. Association of Southeast Asian Nations (ASEAN) e. European Union (EU)

Asia-Pacific Economic Cooperation (APEC)

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

If you purchase an iPad for taking notes in school and to watch videos, you are part of which of the following? a. B2C market b. Business market c. Organizational market d. B2B market e. Industrial market

B2C Market

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

Big Data

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

Business analysis

A Subaru representative has a solid relationship with Phil, a satisfied customer. Phil loves Subaru and will not accept anything else. The representative determines that if Phil continues to do business with Subaru every time he wants to purchase a new car, his total value to the company would be $350,000. This includes purchases made by customers who were referred to the firm by Phil. The Subaru representative has calculated Phil's _______. a. relationship marketing b. customer lifetime value c. commitment d. value of referrals e. monetary and nonmonetary benefits

Customer lifetime value

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. A customer loyalty program b. Customer feedback c. A sales orientation d. Customer lifetime value e. The marketing concept

Customer lifetime value

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

Customer value= customer benefits - customer costs

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

Customers

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

Database

Commodities and raw materials are typically purchased using which method of business buying? a. Description b. Sampling c. Negotiation d. Reciprocity e. Inspection

Description

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

Designing the research project

ACME Corp. is using all digital media, including the internet and mobile and interactive channels, to develop communication and exchanges with customers. This is best described as _______. a. social networking b. digital retailing c. digital marketing d. mobile marketing e. electronic marketing

Digital marketing

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. Pricing b. Product c. Distribution d. Exchange e. Promotion

Distribution

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

Establish an information system to discover customer's real needs.

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

Establishing a timetable for implementation

The use of bribes, which are illegal for U.S. companies, relate best to which of the following? a. Sociocultural forces b. Trade barriers c. Ethical and social responsibility forces d. Economic forces e. Political and regulatory forces

Ethical and social responsibility forces

Which of the following has its own currency? a. Association of Southeast Asian Nations (ASEAN) b. European Union (EU) c. Southern Common Market (MERCOSUR) d. Asia-Pacific Economic Cooperation (APEC) e. North American Free Trade Agreement (NAFTA)

European Union (EU)

In which of the following stages of the consumer buying decision process does a person use evaluative criteria to assess a consideration set? a. Purchase b. Information search c. Evaluation of alternatives d. Postpurchase evaluation e. Problem recognition

Evaluation of alternatives

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

Exchanges

In any one large metropolitan area, there is usually just one Ferrari luxury sports car dealer. This best illustrates _______. a. intensive distribution b. selective distribution c. multichannel distribution d. digital distribution e. exclusive distribution

Exclusive distribution

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. Executive summary c. Environmental analysis d. Performance evaluation e. Marketing implementation

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. Descriptive research b. Experimental research c. Focus groups d. Conclusive research e. Exploratory research

Exploratory Research

Page visits, reach, and CPM (cost per thousand exposures) are all examples of what type of social media metric? a. Exposure b. Engagement c. Advocacy d. Impact e. Influence

Exposure

The process through which a person acquires the knowledge and skills to function as a consumer is best related to which of the following social influences on the buying decision process? a. Culture b. Reference groups c. Social class d. Roles e. Family influence

Family Influence

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 marketing opportunities for products d. Increase the marketer's ability to respond to customer needs e. Inform an organization about changing attitudes and purchase patterns of customers

Gather random data

Which of the following involves developing marketing strategies as though the entire world (or its major regions) were a single entity? a. Customization b. Segmentation c. Globalization d. Licensing e. Outsourcing

Globalization

Which of the following markets may have complex buying procedures due in part to their public accountability? a. Government markets b. College markets c. Institutional markets d. Reseller markets e. Producer markets

Government markets

Which of the following is the market value of a nation's total output of goods and services for a given period in relation to its population? a. Gross domestic product per capita b. Exchange control c. Balance of trade d. Gross national product per capita e. Gross domestic product

Gross domestic product per capita

Which of the following is the first step in the target market selection process? a. Select specific target markets b. Develop market segment profiles c. Identify the appropriate targeting strategy d. Evaluate relevant market segments e. Determine which segmentation variables to use

Identify the appropriate targeting strategy

Which of the following raises the price of foreign goods? a. Import tariff b. The World Trade Organization (WTO) c. Exchange controls d. Quota e. Embargo

Import tariff

Which of the following levels of market coverage is most appropriate for products that have a high replacement rate, require almost no service, and are bought based on price cues? a. Exclusive distribution b. Selective distribution c. Intensive distribution d. Digital distribution e. Physical distribution

Intensive distribution

You are thinking about buying a tablet to help with your classes and for entertainment purposes. When you search your memory for information about products that might address these needs, you are engaging in which aspect of the consumer buying decision process? a. Internal information search b. External information search c. Cognitive dissonance d. Consideration set e. Evaluative criteria

Internal information set

Dell Computer and Harley Davidson are well known for their use of the just-in time (JIT) approach. To which of the following physical distribution activities does the JIT approach belong? a. Transportation b. Materials handling c. Order processing d. Inventory management e. Warehousing

Inventory managment

Which of the following is NOT true about digital marketing as a new distribution channel? a. It increases inefficiencies throughout the marketing channel. b. It reduces inefficiencies throughout the marketing channel. c. It reduces redundancies throughout the marketing channel. d. It increases speed throughout the marketing channel. e. It reduces costs throughout the marketing channel.

It increases inefficiencies throughout the marketing channel.

Which of the following sentences is true about a marketing exchange? a. An exchange will always take place if four conditions are met. 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. It requires four conditions to take place.

It requires four conditions to take place.

Before creating a social media advertising campaign, Sarah embeds quantitative and qualitative metrics at the onset of her strategy that can allow almost real-time measurement and evaluation. What are these metrics called? a. Impressions b. Engagement metrics c. Impact metrics d. Click-through rate (CTR) e. Key Performance Indicators (KPIs)

Key Performance Indicators (KPIs)

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. Telephone survey b. Personal interview survey c. Mail survey d. On-site computer interview e. Shopping mall intercept interview

Mail survey

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. Exchange orientation b. Production orientation c. Sales orientation d. Market orientation e. Promotion orientation

Market Orientation

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

Market development

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. Market growth/market share matrix e. Mission-goal matrix

Market growth / market share matrix

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

Marketing knowledge enhances consumer awareness.

Which of the following is NOT one of the five opportunities for creating value generated by a global presence? a. Mine optimal locations for activities and resources b. Minimize the transfer of knowledge across locations c. Adapt to local market differences d. Exploit economies of global scope e. Exploit economies of global scale

Minimize the transfer of knowledge across locations

ACME Corp. has ordered widgets from Wiley Widgets several times before, but now it would like Wiley Widgets to offer a lower per-unit price in exchange for a larger order. ACME is using which of the following types of business purchases? a. Modified rebuy purchase b. New-rebuy purchase c. Straight rebuy purchase d. Modified-task purchase e. New-task purchase

Modified rebuy purchase

_______ is/are a rapidly-growing segment that most retailers now view as vital to their businesses. a. Online retailing b. Category killers c. Webrooming d. Brick-and-mortar stores e. Extreme-value stores

Online retailing

_______ satisfy/satisfies an increasing expectation among consumers to have multiple channels available to obtain the goods and services they desire at their convenience. a. Brick-and-mortar stores b. Warehouse showrooms c. Webrooming d. Online retailing e. International retailing

Online retailing

Which of the following is NOT one of the ways that business transactions differ from consumer transactions? a. Orders by businesses are frequently small and inexpensive. b. Suppliers of large, expensive, or complex goods often must sell products in large quantities to make profits. c. Purchasing decisions are often made by a committee. d. Orders by business customers tend to be much larger than individual consumer sales. e. Discussions and negotiations associated with business purchases can require considerable marketing time and selling effort.

Orders by businesses are frequently small and inexpensive

Which of the following is contracting of noncore operations or jobs from internal production within a business to an external entity that specializes in that operation? a. Outsourcing b. Crowdsourcing c. Offshore outsourcing d. Offshoring e. Licensing

Outsourcing

Which of the following involves the processes to obtain resources to create value through sourcing, purchasing, and recycling including materials and information? a. Supply chain management b. Channel management c. Procurement d. Logistics management e. Operations management

Procurement

Gorton's Seafood buys large amounts of fish to use in its frozen dinners and dinner components. Gorton's Seafood belongs in which of the following business markets? a. Institutional market b. Government market c. Reseller market d. Producer market e. B2C market

Producer market

When you buy a new backpack from LLBean.com, which of the following consumer marketing channels are you using? a. Producer to industrial distribution to consumer b. Producer to consumer c. Producer to wholesaler to retailer to consumer d. Producer to retailer to consumer e. Producer to agent to wholesaler to retailer to consumer

Producer to consumer

Which of the following business marketing channels is most likely to be used? a. Producer to customer b. Producer to industrial distributor to customer c. Producer to industrial distributor to retailer to customer d. Producer to agent to industrial distributor to customer e. Producer to manufacturer's agent to customer

Producer to consumer

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. Pricing b. Product c. Distribution d. Promotion e. Exchange

Product

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. Pricing b. Product c. Distribution d. Promotion e. Exchange

Promotion

The internet is viewed as a _______ medium because users determine which material they are going to view. a. Pull b. Open c. Passive d. Push e. Close

Pull

Which of the following does the North American Free Trade Agreement NOT do? a. Simplify country-of-origin rules b. Make it easier to invest in Mexico and Canada c. Provide protection for intellectual property d. Raise tariffs on products imported from Canada and Mexico e. Expand trade by requiring equal treatment of U.S. firms by Canada and Mexico

Raise tariffs on products imported from Canada and Mexico

Which of the following markets includes wholesalers or retailers? a. Institutional markets b. Buying centers c. Reseller markets d. Producer markets e. Government markets

Reseller markets

REI has a 100% satisfaction guarantee on its items. It allows customers to return products up to one year after purchase. This is an attempt by REI to reduce what type of cost? . Monetary b. Quality c. Risk d. Time e. Effort

Risk

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. Sales orientation b. Promotion orientation c. Market orientation d. Exchange orientation e. Production orientation

Sales orientation

Purchasing agents at ACME Corp. are looking in company files and trade directories, contacting suppliers for information, soliciting proposals from known vendors, and examining various online and print publications. They are in which of the following stages of the buying decision process? a. Developing product specifications b. Selecting the product to be purchased and the supplier c. Searching for and evaluating potential products and suppliers d. Evaluating the supplier's and product's performance by comparing it with specifications e. Recognizing the problem

Searching for and evaluating potential products and suppliers

Which of the following levels of market coverage is desirable when a special effort, such as customer service from a channel member, is important to customers? a. Exclusive distribution b. Digital distribution c. Intensive distribution d. Selective distribution e. Multichannel distribution

Selective distribution

Which of the following influences on the consumer buying decision process result from time, circumstances, and location? a. Situational b. Psychological c. Cultural d. Subcultural e. Social

Situational

Which of the following is an open aggregate of people with similar social rank? a. Culture b. Opinion leader c. Subculture d. Social class e. Reference group

Social class

Which of the following organizational architecture elements is the most difficult to change, especially in the short term? a. People b. Culture c. Structure d. Functions e. Processes

Structure

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. subjective b. scientific c. detailed d. objective e. narrow

Subjective

Which of the following integrates the functions of operations management, logistics management, procurement, and marketing channel management so that products are produced and distributed in the right quantities, to the right locations, and at the right times? a. Multichannel distribution b. Logistics c. Channel integration d. Third-party logistics e. Supply chain management

Supply chain management

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. marketing mix c. community d. marketing environment e. target market

Target Market

Which of the following is NOT a way that consumers rationalize pirating software, video games, and movies online? a. They worry about getting arrested. b. They are influenced by friends and family who engage in piracy and swap digital content. c. They are excited by the thrill of getting away with it and the slim risk of consequences. d. They feel they just do not have the money to pay for what they want. e. They think they are smarter than others.

They worry about getting arrested.

Which of the following have special expertise in core physical distribution activities such as warehousing, transportation, inventory management, and information technology and can often perform these activities more efficiently? a. Megacarriers b. Channel captains c. Freight forwarders d. Third-party logistics firms e. Corporate VMS

Third-party logistics firms

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

Threats

Which of the following sales forecast methods uses historical sales data to discover a pattern in sales over time? a. Executive judgment b. Time series analysis c. Regression analysis d. Surveys e. Market tests

Time series analysis

Which of the following is one of the biggest mistakes a marketer can make when engaging in digital marketing? a. Treating it like a traditional marketing channel b. Failing to engage in social networks c. Adopting an undifferentiated marketing strategy d. Treating it like a disruptive innovation e. Using all social networks regardless of target markets

Treating it like a traditional marketing channel

Suppliers may use _______ to get rid of slow-moving inventory, while a franchiser may use them to maintain quality control and protect the franchiser's reputation a. Restricted sales territories b. Tying agreements c. Warehousing d. Refusal to deal e. Exclusive dealing

Tying agreements

If segmentation analysis shows that customer needs are essentially homogenous, what action may be most appropriate? a. Differentiated approach b. Concentrated approach c. Undifferentiated approach d. Demographic approach e. Segregated approach

Undifferentiated approach

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. Send out coupons for the organization's products in the local bulletin b. Purchase an advertisement in a state newspaper that is popular in the local community about the nonprofit c. Engage in extensive marketing research to determine what its contributors want d. Get volunteers to sell T-shirts and other items at the nonprofit's major events e. Use inexpensive digital marketing tools to inform the community about an upcoming fundraising event

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

The North American Industry Classification System (NAICS) is a(n) _______. a. state directory of businesses b. single industry classification system used in Europe to generate comparable statistics c. single industry classification system used globally to generate comparable statistics d. commercial database e. single industry classification system used by the United States, Canada, and Mexico to generate comparable statistics

a single industry classification system used by the United States, Canada, and Mexico to generate comparable statistics

ACME Corp. has concentrated its human resources with international expertise into one unit which serves as the central point for all information flow related to international operations, it is most likely using _______. a. a geographic area structure b. an export department structure c. an international division structure d. a product division structure e. the global matrix structure

an international division structure

ACME Corp. is developing a software program that can run on mobile devices so that customers can interact with the firm, view product information, and see the status of an order. This is best described as a(n) _______. a. social media b. podcast c. app d. widget e. website

app

Companies often use social media influencers popular with their target market to promote their products. In this case, the influencers represent a(n) _______. a. aspirational reference group b. social class c. subculture d. dissociative reference group e. membership reference group

aspirational reference group

Logitech was founded with the knowledge and resources to accelerate its participation and investment in the global marketplace; it was able to export products soon after being established in market niches in which it competed with long-established firms. This is an example of a(n) _______. a. born global b. trading company c. contract manufacturer d. export agent e. strategic alliance

born global

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

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

When a marketing manager estimates how much of a product a potential buyer in a specific geographic area will purchase in a given period, she is employing the _______. a. breakdown approach b. buildup approach c. breakeven approach d. SWOT analysis e. competitive assessment

buildup approach

The chief advantage of the _______ is that it allows the firm to specialize in satisfying the needs and characteristics of a specific customer group. a. differentiated targeting strategy b. homogeneous targeting strategy c. concentrated targeting strategy d. undifferentiated targeting strategy e. marketing targeting strategy

concentrated targeting strategy

Behavior that violates generally accepted norms of a particular society is best described as _______. a. routinized response behavior b. consumer misbehavior c. consumer buying behavior d. consumer fraud e. cognitive dissonance

consumer misbehavior

Copying computer software, video games, movies, or music without paying the producer for them is an example of _______. a. situational influences b. consumer misbehavior c. social influences d. psychological influences e. routinized response behavior

consumer misbehavior

Two trends have elevated the importance of consumer-generated information: (1) The growing tendency of consumers to publish their own thoughts, opinions, reviews, and product discussions; and (2) _______. a. consumers' preference for less technology b. consumers' tendencies to trust other consumers over corporations c. consumers' tendencies to trust other corporations over consumers d. consumers' tendencies to trust the government over consumers and corporations e. consumers' preference for smartphones and apps

consumers' tendencies to trust other consumers over corporations

The most popular type of vertical marketing system is the _______. a. vertical VMS b. corporate VMS c. contractual VMS d. horizontal VMS e. administered VMS

contractual VMS

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. stable; unstable b. controllable; uncontrollable c. predictable; unpredictable d. uncontrollable; controllable e. unpredictable; predictable

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. SWOT analysis d. mission statement e. corporate strategy

corporate identity

The key to success in retailing is to have a strong _______ with a retail strategy that provides the level of service, product quality, and innovation that consumers desire. a. online presence b. customer focus c. location d. category management e. shareholder focus

customer focus

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

decentralized organization

When marketers use age, gender, race, ethnicity, income, education, occupation, family size, family life cycle, religion, and/or social class to segment consumer markets, they are using _______. a. behavioristic variables b. customer size c. geographic variables d. psychographic variables e. demographic variables

demographic variables

During the final stage of the consumer buying decision process, a person might experience cognitive dissonance, which is _______. a. additional information sought from outside sources b. a group of brands that a buyer views as possible alternatives c. doubts in the buyer's mind about whether purchasing the product was the right decision d. objective characteristics (such as the size, speed, capacity) and subjective characteristics (such as style and color) that are important to him or her e. when a buyer becomes aware of a difference between a desired state and an actual condition

doubts in the buyer's mind about whether purchasing the product was the right decision

High-involvement, unfamiliar, and expensive products such as cars are most likely to involve _______. a. extended decision making b. limited decision making c. routinized response behavior d. enduring involvement e. impulse buying

extended decision making

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

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. focus groups b. descriptive research c. experimental research d. customer advisory boards e. conclusive research

focus groups

ACME Corp. divides its markets into segments based on the part of the U.S. in which the business customer operates. This illustrates segmentation based on _______. a. demographics b. type of organization c. geographic location d. customer size e. product use

geographic location

Most companies have entered the global marketplace _______ and _______. a. gradually; incrementally b. immediately; all at once c. gradually; all at once d. thoughtfully; all at once e. immediately; incrementally

gradually; incrementally

When a producer, wholesaler, or retailer has the ability to influence another channel member's goal achievement, it _______. a. is horizontally integrated b. is vertically integrated c. has channel power d. is a channel captain e. is multichannel distribution

has channel power

A price increase or decrease does not significantly alter demand for a product with _______. a. joint demand b. reciprocity c. elastic demand d. inelastic demand e. derived demand

inelastic demand

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

interdependent

Geodemographic segmentation allows marketers to engage in micromarketing, which _______. a. groups individuals according to how they spend their time, the importance of things in their surroundings (homes or jobs, for example), beliefs about themselves and broad issues, and some demographic characteristics, such as income and education b. aggregate population characteristics such as the distribution of age and gender, fertility rates, migration patterns, and mortality rates c. divides a market according to benefits that consumers want from the product d. involves focusing precise marketing efforts on very small geographic markets, such as community and even individual neighborhoods e. refers to the number of potential customers within a unit of land area, such as a square mile

involves focusing precise marketing efforts on very small geographic markets, such as community and even individual neighborhoods

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. first-mover advantage b. late-mover advantage c. core competency d. early-mover advantage e. competitive advantage

latemover advantage

When buyers purchase products occasionally or from unfamiliar brands within a product category, they are most likely to use _______. a. extended decision making b. routinized response behavior c. impulse buying d. limited decision making e. enduring involvement

limited decision making

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. weakness b. competitive advantage c. strategic window d. core competencies e. market opportunity

market opportunity

The total amount of product that customers will purchase within a specified period at a specific level of industry-wide marketing activity is best described as _______. a. breakdown approach b. buildup approach c. market potential d. competitive assessment e. company sales potential

market potential

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

marketer's ability to make decisions

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

marketing analytics

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

marketing objectives

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. descriptive research b. experimental research c. focus groups d. exploratory research e. marketing research

marketing research

The use of a variety of marketing channels to ensure maximum distribution is best called _______. a. logistics b. channel integration c. digital distribution d. multichannel distribution e. supply chain alliances

multichannel distribution

When retailers use multiple distribution channels to complement their stores with catalogs, apps, or websites, they are using _______. a. retail discounting b. multichannel retailing c. multichannel distribution d. digital retailing e. scrambled merchandising

multichannel retailing

Because it imports more products than it exports, so that money is flowing out of the country, the United States has a(n) _______. a. positive gross domestic product b. negative gross domestic product c. negative exchange control d. negative balance of trade e. positive balance of trade

negative balance of trade

Any attempt to conduct dishonest activities online would be described as _______. a. identity theft b. credit card fraud c. piracy d. online fraud e. transparency

online fraud

One of the most significant privacy issues relates to marketers' use of _______. a. personal information b. stolen credit card numbers c. competitors' information d. customer loyalty programs e. intellectual property

personal information

The "bricks-and-clicks" model involves maintaining _______. a. physical stores and an online shopping site b. online shopping sites only c. apps and blogs d. social network pages and blogs e. physical stores only

physical stores and an online shopping site

To estimate the purchase potential of business customers, a marketer must find a relationship between a variable available in industrial classification data, such as number of employees, and the size of _______. a. potential customers' purchases b. potential customers' products c. current customers' sales d. potential customers e. potential customers' sales

potential customers' purchases

Marketers use market segment profiles to assess the degree to which their products fit potential customers' _______. a. psychographic profiles b. product needs c. type of business d. geographic location e. demographics

product needs

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. validity b. single-source data c. big data d. global standards e. professional standards

professional standards

When marketing managers look for a relationship between past sales and one or more independent variables, such as population, per capita income, or gross domestic product, they are engaging in _______. a. regression analysis b. time-series analysis c. market tests d. forecasting surveys e. executive judgment

regression analysis

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. customer lifetime value b. a sales orientation c. relationship marketing d. customer loyalty programs e. the marketing mix

relationship marketing

When a business buyer invites vendors to bid to supply a specified good or service in competition with each other, with the lowest bidder winning the right to sell to the buyer, this is best described as _______. a. online auction b. B2B e-commerce site c. buying center d. B2B exchange e. reverse auction

reverse auction

Jameson manages a well-known cell phone company. This company has been voted as having the best cell phone service. Consumers appreciate the fact that they can call from almost anywhere in the world and the service still gets through. Jameson knows that the company's product far surpasses that of the competition. One thing has been bothering him, though. In order to put so many resources into ensuring the best service, Jameson has cut back on employees at the firm's customer call center. Recently, consumers have begun complaining about long wait times when they call in with a problem or concern. Although its cell phone service is still considered one of the best, customer satisfaction with the firm's customer service has plummeted. Jameson does not understand why consumers are getting so upset. He believes the exceptional cell phone service more than makes up for long waiting periods and other issues with its customer service. "After all," he says, "They can't have it all. If I invest more in customer service, that means less investment on ensuring the quality of our product offering."Refer to Scenario 1.3. Jameson has asked you, a marketing consultant, to give him advice. He cannot understand how a cell phone company with the best product offering in the cell phone service industry could get such low satisfaction ratings simply because the customer service is not up to par. You suggest that Jameson has a narrowly defined view of the company's product offering. You tell Jameson that successful marketers should define their products as what they _______. a. produce b. make c. cost customers d. deliver e. do to satisfy customers

satisfy customers

Online marketing efforts make the buying process far more efficient because it _______ and _______. a. saves time; is more professional b. takes more time; reduces costs c. saves time; reduces costs d. removes emotion, reduces costs e. saves time; increases costs

saves time; reduces costs

When you are using the internet to research a school project, and you ignore the banner ads on websites even though you see them flashing on the page, you are probably engaging in the process of _______. a. selective distortion b. self-concept c. selective retention d. selective exposure e. learning

selective exposure

One of the most important benefits of e-marketing is the ability of marketers and customers to _______. a. reduce costs b. share information c. save money d. use apps e. use social media

share information

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. random sampling b. stratified sampling c. nonprobability sampling d. probability sampling e. quota sampling

stratified sampling

Marketing managers at ACME Corp. have had experts create initial forecasts, averaged their results, and then returned the averages to the experts to refine their individual forecasts. This best describes _______. a. the sales force forecasting survey b. regression analysis c. the expert forecasting survey d. executive judgment e. the Delphi technique

the Delphi technique

Teenagers are not part of the market for alcohol because they do not have _______. a. the desire to buy alcohol b. the authority to buy alcohol c. the ability to resell them d. the willingness to buy alcohol e. the ability to buy alcohol

the authority

The group of people within an organization who make business buying decisions are best described as _______. a. the buying center b. influencers c. the purchasing unit d. gatekeepers e. vendors

the buying center

Supply chain management should begin with a focus on _______. a. the government regulator b. the marketing channel c. the producer d. the seller e. the customer

the customer

Hulu enables consumers to watch select TV shows whenever they want instead of when they are broadcast. This illustrates _______. a. time utility b. technological utility c. place utility d. form utility e. possession utility

time utility

ACME Corp. managers lack the will and resources to develop international marketing strategies, but are happy when their company's products are purchased by a(n) _______, which then sells them internationally. a. licensor b. joint venture c. contract manufacturer d. trading company e. export agent

trading company

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

training

A large proportion of customers in the total market must be homogeneous in order to effectively use a(n) _______. a. undifferentiated strategy b. concentrated strategy c. corporate strategy d. segmented strategy e. differentiated targeted strategy

undifferentiated strategy

Examining quality, design, materials, and possibly item reduction or deletion to acquire the product in the most cost-effective way is best described as _______. a. value analysis b. multiple sourcing c. specification analysis d. sole sourcing e. vendor analysis

value analysis