Tingnan ang lahat ng mga set ng pag-aaral

MKTG test 2 ch 6, MKTG ch 3, Marketing 351 Chapter 1, Marketing, MKTG Chapter 1, MKTG Chapter 5, MKT 230 - chp. 5

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

Marketing control process

1. Establishment of performance standards 2. Evaluation of actual performance relative to establish standards 3. corrective action if necessary

Promotion=?

Communication

FORMULA WE NEED TO KNOW

Customer value = customer benefits - customer costs

Marketing focus?

Customers

Value

Customers subjective assessments of benefits relative to the cost in determining the worth of a product

A survey question that requires a yes or no answer is called a a) qualifier. b) multiple-choice question. c) 50-50 question. d) dichotomous question. e) bimodal question.

Although telephone surveys can be conducted very quickly, a major limitation is a) the ability to gain rapport with respondents. b) the difficulty in asking probing questions. c) that few companies prefer this survey method. d) that only a small portion of the population likes to participate in telephone surveys. e) the expense compared to in-home interviews.

Baskin Robbins is conducting research on possible new ice cream flavors and products. It is selecting at random 100 males and 100 females in order to collect data. This is an example of ______ sampling. a) nonprobability b) random c) quota d) stratified e) selective

Besides administering the questionnaire, Colin observed people who went kayaking and canoeing on the Chatsworth River, making notes about their appearance and behavior. The type of data he collected are ___________ data. a) indirect b) mechanical c) secondary d) primary e) direct

Coca-Cola is aiming its Diet Coke Plus (with vitamins and minerals) at health-conscious customers. These health-conscious customers represent Coke's A) audience. B) sales alternative. C) business group. D) target market. E) focus group.

Computer software that aids marketing managers in decision making by helping them anticipate the effect of certain decisions is known as a a) database. b) marketing research system. c) marketing information system. d) marketing decision support system. e) single-source system.

Corporate executives often prefer marketing research findings to be put into a report a) full of statistical analysis with details on methods employed by the researchers. b) examining the ethical implications of implementing results from the research report. c) that exposes no deficiencies or limitations of the research process. d) that is clear, short, and simply expressed. e) expressing the views and beliefs of top management about the research problem.

Data that are observed or collected directly from respondents are called a) direct samples. b) secondary data. c) stratified data. d) primary data. e) firsthand information.

If Weight Watchers is interested in collecting information about Americans' perceptions of dieting programs, and the company believes that significant regional differences may exist, the best type of sampling would be a) random. b) quota. c) population. d) stratified. e) nonquota.

A(n) ___________ is a collection of information arranged for easy access and retrieval. a) database b) marketing information system c) marketing decision support system d) online information service e) e-mail system

According to the text, ___________ interpretation focuses on what is typical or what deviates from the average. a) statistical b) descriptive c) exploratory d) secondary e) primary

The Gap wants to target an older crowd in order to increase its market share so it surveys men and women from ages 40 to 60 about how often and for what type of activities they wear casual clothing. This is an example of a) reliability. b) exploratory research. c) probability sampling. d) descriptive research. e) experimental research.

The definition of marketing implies that ______ should receive benefits from exchange relationships. A) only customers B) only businesses C) company management D) both customers and businesses E) only the most important customers

The final step in the marketing research process is a) interpreting research findings. b) making sure the marketing research was conducted in an ethical manner. c) putting the results into a written document that is technical and written in formal language. d) reporting the research findings. e) deciding what the next research project should investigate.

In reporting marketing research findings, the researcher should a) provide explanations in language that those who use the report to make decisions can understand. b) write the report in an extremely technical and statistical style. c) fit the problem to a favored statistical technique. d) not acknowledge any limitations associated with the study. e) give management the answers it wants.

Kelsey thinks she will be able to get the highest quality of responses concerning the product features most sought by consumers through personal interviews. She decides to conduct her interviews at _____ because this is the most common location for personal interviews. a) a shopping mall b) the respondent's home c) the interviewer's home d) the company's offices e) a city park

Nelson Marketing Research is concerned about using surveys to conduct a marketing research project because a) response rates are declining. b) primary data are so much cheaper and easier to gather. c) survey data collection is highly inaccurate. d) survey data do not provide in-depth responses. e) the survey method has been replaced by the Internet.

Students from marketing research class collect data from three areas on campus. When they analyze their data the responses are very similar. The students can state they achieved which of the following? a) reliability b) causal relationships c) validity d) sampling e) measurability

SunnyD is aimed at mothers with children under age twelve. These mothers represent SunnyD's A) target market. B) consumer advocates. C) marketing strategy. D) marketing mix. E) marketing tactic.

The primary value that a marketer expects to receive from a customer in an exchange relationship is A) the price charged for the product. B) customer satisfaction. C) references to other potential customers. D) quality merchandise that meets expectations. E) few returns of the merchandise purchased.

The real value of marketing research to the organization can best be measured by a) its immediate impact on profits. b) the amount of time spent. c) how much it costs. d) improvements in the ability to make decisions. e) the increase in sales volume or market share.

The use of marketing research is a) limited strictly to large corporations. b) limited to for-profit businesses of all sizes. c) controlled by the federal government. d) widespread throughout business and nonprofit organizations. e) carefully monitored by each state's trade agencies.

To maintain the control needed to obtain accurate information, marketers approach marketing research as a process. Which of the following steps of that process focuses on uncovering the nature and boundaries of the marketing situation to be studied? a) Locating and defining problems b) Designing the project c) Collecting data d) Interpreting findings e) Reporting findings

When researchers divide the population of interest in a study into groups and then arbitrarily choose participants from each group, they are using a) quota sampling. b) selective surveying. c) random sampling. d) stratified sampling. e) researcher samples.

Which of the following is the least flexible survey method? a) Telephone surveys b) Focus-group interviews c) Personal interview surveys d) Mail surveys e) Observation

Which step in the marketing research process involves the use of data analysis and statistical techniques to help draw conclusions? a) Locating and defining problems or research issues b) Developing hypotheses c) Collecting data d) Interpreting research findings e) Reporting research findings

Strategic business unit (SBU)

A division, product line or other profit center within a parent company (a business within a business)

Market

A group of individuals or organizations that have needs for products in a product class and have ability willingness and authority to purchase those products

Target Market?

A specific group of customers on whom an organization focuses on (Can be large or small groups)

Study of Marketing is what?

A spin off of economics

What has to happen in the Marketing Concept?

Allows organization to achieve goals and has to be win-win

Customer cost

Anything customers give up in exchange for benefits

Customer benefits

Anything desired by the customer that is received in exchange

What is price?

Anything the customer has to give up

Assume that Verizon Wireless is interested in studying the pricing expectations of its customers. If the study calls for selecting at random 100 people from each of three age groupings, ___________ sampling is being used. a) random b) stratified c) quota d) area e) experimental

Colin went to the university library and collected everything he could find on the kayaking and canoeing sports industries. The type of data he collected are known as ___________ data. a) primary b) secondary c) descriptive d) exploratory e) mixed

Decreasing sales, increasing expenses, or decreasing profits a) are to be expected during the marketing research process. b) are examples of symptoms that point to larger problems. c) usually have no effect on the marketing research process. d) are important considerations in designing the research project. e) should be carefully considered before collecting data.

Distribution, price, promotion, and product are all elements of A) marketing strategy. B) the marketing mix. C) a target market. D) a consumer good. E) a business strategy.

Suppose that when selecting the 5,000 homes to participate in scanner studies in one city, the research firm first divided the city's population into upper-, middle-, and lower-class families, then took a probability sample within each group. This would be a(n) _________ sample. a) random b) stratified c) area d) quota e) population

When working as a summer intern for a local retail store, Jan Halverson was sent to the library to look up data on population forecasts for the city of San Antonio. The population information she found would be considered a) primary data. b) secondary data. c) information data from syndicated research services. d) secondhand data. e) a primary database.

Which of the following is a probability sampling technique used to reduce errors within random sampling? a) Quota b) Stratified c) Nonprobability d) Cluster e) Snowball

Which sampling design gives every member of the population an equal chance of appearing in the sample? a) Nonprobability b) Random c) Quota d) Stratified e) Poll

A firm has conducted market research and found that customer satisfaction with its product is quite high. Nonetheless, repurchase behavior is very low. The research design evidently has a problem with a) secondary data. b) reliability. c) validity. d) reporting findings. e) generalizability.

A research method in which a number of people are exposed to an idea or concept and the interaction of the people is observed is called a(n) a) in-home interview. b) mail-group survey. c) focus-group interview. d) shopping mall intercept interview. e) chat room interview.

All the elements, individuals, or units of interest to researchers for a specific study are called the a) data set. b) sample. c) population. d) focus group. e) target market.

An informed guess or assumption about a certain problem or set of circumstances is known as a) a description of the situation. b) good research design. c) a hypothesis. d) a reliable guess. e) managerial intuition.

Nathan, a marketing manager for Casual Express, a retail clothing store chain, wants to use observation methods to gather information about shopping behavior. Which of the following should Nathan know about observation methods of data collection? a) Observation uses secondary sources of data. b) Observation depends on mall interviews. c) Observation can tell Nirendra what is being done, but not why. d) Observation focuses on open-ended questions. e) Observation works best for telephone surveys.

Primary data are best described as the a) first batch of data collected for a specific study. b) data that are necessary for a correct decision. c) data that are observed, recorded, or collected directly from subjects. d) data that are compiled for some purpose other than the study in question. e) data that are collected inside and outside the organization for some purpose other than the current investigation.

Which step in the marketing research process follows collecting data? a) Reporting research results b) Implementing organizational change c) Interpreting research findings d) Designing the research project e) Refining the research issue

Mission statement

Long term vision of what an organization wants to become

True or False

Marketing activities take place in a dynamic environment?

Marketing strategy

Plan of action for identifying and analyzing a target market in developing a marketing mix to meet the needs of that market. (Does not have to be in writing)

Market Share

The percentage of a market that actually buys a specific product from a particular company

Core Competency

Thing that firm does well "strength" which SOMETIMES gives us an advantage over competition

A widely used system for classifying individuals on the basis of lifestyle is

VALS

What 2 questions does the mission statement answer?

Who are our customers and what is our core competency?

Marketing Plan

Written document

For most firms, the costs of marketing activities consume approximately what portion of the consumer's dollar? a) one-half b)one-fifth c) one-third

Marketing activities are a) used by all sizes of organizations including for-profit, nonprofit, and government agencies. b) limited to use by larger for-profit and nonprofit organizations. c) implemented only to increase profits for the organization and to expand the scope of its customer base. d) used by all types and sizes of businesses but are not used by nonprofit organizations.

Which of the following agencies would most likely have jurisdiction over the problem with lead in the paint of children's toys? a) Consumer Product Safety Commission b) Children's Online Protection Act c) Food and Drug Administration d) Environmental Protection Agency e) National Advertising Review Board

Which of the following companies is the best example of a service marketer? a)fedex b) sony c)abercrombie

good

a physical product that you can touch is a

target market

a specific group of customers on whom a company focuses its marketing efforts

An online survey conducted before students could register for their fall semester classes asked, "Do you think online professor evaluation forms would be better than paper and pencil forms administered during class?" This is an example of a(n) ______ question. a) close-ended b) short answer c) multiple-choice d) open-ended e) dichotomous

The focal point of all marketing activities is A) Products B) The marketing mix C) profits D) sales E) customers

E) customers

What can be tangible or intangible?

Goods, services and ideas which are the product

STAR

High growth market- dominate market share

When marketing research shows that a group of people does not desire a particular product, the people in that group

are not in the market for that product

Due to limited resources, a consumer decided to serve Hawaiian Punch to a New Year's Eve party crowd instead of Korbel champagne. As a result of this action, Korbel and Hawaiian Punch can be viewed as ___________ competitors. a) Pure b) Generic c) Total budget d) Product e) Oligopolistic

Initiatives intended to improve an organization's positive impact on society and the natural environment are called a) environmental marketing b) green marketing c) socially-responsible marketing d) energy-conscious marketing

Marketing knowledge and skills a) are not necessary for a nonprofit organization. b) enhance consumer awareness and help provide people with satisfying goods and services.

Mothers Against Drunk Driving (MADD) is a group that works to change attitudes and laws about driving under the influence of alcohol. MADD primarily markets a)goods. b)ideas. c)services. d)political figures.

The marketing concept affects a) just the marketing department. b) all organizational activities. c) only marketing and finance.

The marketing concept is best defined as a) a second definition of marketing. b) a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals. c) the performance of business activities that direct the flow of goods and services from producer to customer or user. d) a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers.

The product variable of the marketing mix can include all of the following except a) creation of brand names. b) consumer perception of the product price. c) development of product packaging. d) warranty issues. e) repair services.

The two least common competitive structures at the opposite ends of the continuum are a) monopolies and oligopolies. b) pure competition and monopolies. c) monopolistic competition and monopolies. d) pure competition and no competition. e) oligopolies and pure competition.

What national self-regulatory organization screens ads? a) Federal Advertising Review Division b) National Advertising Review Board c) Federal Communications Commission d) Consumer Federation of America

Which category of income are marketers most interested in? a) Wealth b) Disposable income c) Discretionary income d) Total income e) Extra income

______ is the degree to which an exchange helps achieve an organization's objectives. a) Controlling b) Effectiveness c) Success rate

_________ is the process of establishing performance standards, comparing actual performance with established standards, and reducing the difference between desired and actual performance. a) Internal control analysis b) Marketing control c) Market flow regulation d) Environmental market analysis

_________ of marketing plans hinges on coordination of marketing activities, motivation of marketing personnel, and effective communication within the marketing unit. a) Marketing control b) Implementation c) Organizing d) Planning e) Strategic planning

__________ competitors provide very different products that satisfy the same basic customer need. a) Brand b) Generic c) Total budget d) Product e) Marketing

A person's buying power is a function of a) disposable income. b) past income, natural resources, and financial resources. c) wages, rents, and investments. d) income, wealth, and credit. e) discretionary income.

During the Industrial Revolution demand for manufactured goods was a)weak. b) nonexistent. c) declining. d) strong.

From the 1920s to the 1950s, demand for manufactured goods decreased, leading to the ______ orientation. a)production b) marketing c) revolutionary d) sales e)reduction

Jared Bledsoe hires a local landscape firm to plant trees and shrubs in his yard. The firm plants mostly dead plants but refuses to return Jared's money or replace the dead items. Jared's best course of action would be to contact the a) police. b) Federal Trade Commission. c) Sherman Commission. d) Better Business Bureau. e) federal district court.

Organizations that provide smoke-free environments or low-fat products are responding to changes in a) technology. b) the legal environment. c) demographics. d) cultural values. e) political forces.

The Internet has been used as a search engine to find information about a marketer's product or service by about ____ percent of adults in the U.S. a) 65 b) 78 c) 82 d) 91 e) 99

What is the most important factor in distinguishing disposable income from income? a) Taxes b) Housing c) Employment levels d) Consumer spending e) Saving

Which of the following agencies regulates marketing activities the most? a) Food and Drug Administration b) Federal Communications Commission c) Environmental Protection Agency d) Federal Trade Commission e) Federal Power Commission

Which of the following provides protection for and regulates brand names, brand marks, trade names, and trademarks? a) Sherman Act b) Clayton Act c) Robinson-Patman Act d) Lanham Act e) Celler-Kefauver Act

End use, price sensitivity, and brand loyalty are all _____ variables that can be used in market segmentation.

behavioristic

The division of a market according to what benefits consumers want from the product is called ______ segmentation.

benefit

Alex Wren of Owens Corning Fiberglass talks to Terry Jones, a home builder, to find out how much fiberglass insulation he intends to use in building homes during the next year. Albert then multiplies that number by the total number of builders in the territory. He is using a ___________ approach to measure sales potential.

buildup

Variables such as geographic location, type of organization, customer size, and type of product usage are used to segment ___________ markets.

business

The ability to purchase a product is a function of

buying power

Using the breakdown approach to sales potential, estimates are made

by starting with general economic conditions

Companies that compete for the same limited financial resources of the same customers are known as _________ competitors. a) Brand b) Generic c) Total budget d) Product e) Oligopolistic

Consumer protection legislation deals with all of the following legal concerns except a) consumer safety. b) sale of hazardous products. c) monopolistic practices. d) information disclosure. e) health claims on food packages.

If in an industry, none of the many sellers could influence the price of supply of its products, this industry would be characterized as a) oligopoly b) monopoly c) pure competition d) oligopolistic competition e) monopolistic competition

Making modifications to packaging or brand names involves the _____ component of the marketing mix. a)price b) good c) product d) promotion e) distribution

The equation a buyer applies to assess a product's value is a) value = monetary price - customer benefits. b) value = customer costs - customer benefits. c) value = customer benefits - customer costs.

The marketing concept is a philosophy that states that an organization should try to satisfy customers' needs and also a) increase market share. b) increase sales. c) achieve the organization's goals. d) produce high-quality products. e) coordinate its activities to increase production.

When marketers define their target market, they establish a set of a) technologies. b) monopolies. c) competitors. d) government regulations. e) sociocultural forces.

Which of the following statements about marketing environment forces is not correct? A) They influence customers by affecting their lifestyles, standards of living, and preferences and needs for products. b) They may influence customers' reactions to a firm's marketing mix. c) They fluctuate slowly and thereby create threats to a firm's marketing mix. d) They can fluctuate quickly and dramatically.

______ refers to minimizing the resources an organization must spend to achieve a specific level of desired exchanges. a) Effectiveness b) Productivity c) Efficiency d) Objectivity e)Cost cutting

If a company extends a line of products by introducing a new product to the market, and the firm does not distinctly position this product (i.e., separately from the other products in the line), the result could be

cannibalization

The maximum percentage of market potential that an individual firm can expect to obtain for a specific product is the

company sales potential

If Jaguar focused all its marketing efforts for the new Jaguar XKR on professionals earning more than $250,000, it would be using a(n) ___________ strategy.

concentrated

marketing

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

product variable of the marketing mix

creation of brand names, development of product packaging, warranty issues, and repair services

dynamic and changing

the marketing environment is best described as being

customer

the marketing mix is built around what?

marketing control

the process of establishing performance standards, competing actual performance with established standards, and reducing the difference between desired and actual performance

Which of these statements is not true about business markets?

the purchase is always made by more than one individual

Which of the following is not a characteristic of a consumer market?

their purchasing decisions are always made by only one individual

The forecasting method that utilizes a firm's historical sales data to find patterns in the firm's sales volume over time is

time series analysis

The forecasting techniques that assume past sales patterns will continue into the future are all variations of

time series analysis

Pillsbury defines all purchasers of flour as its target market. What targeting strategy would be most appropriate in this case?

undifferentiated

government regulations

which of the following is essential an uncontrollable factor in developing a marketing mix? product adaptations, pricing strategies, government regulations, advertising campaigns, retail locations

Occupation, family size, and family life cycle are all ______ variables for segmenting consumer markets.

demographic

After a firm has identified an appropriate targeting strategy, the next step in the target market selection process is

determining segmentation variables

A survey question that requires a yes or no answer is called a Select one: a. 50-50 question. b. dichotomous question. c. bimodal question. d. qualifies. e. multiple-choice question.

dichotomous question

marketing mix

distribution, price, promotion, and product are all elements of this

strong

during the industrial revolution demand for manufactured goods was

A systematic process of assessing opportunities and resources, determining marketing objectives, and developing a marketing strategy and plans for implementation and control describes which of the following marketing management activities? a)Strategic planning b) Marketing control c) Implementation d) Organizing e) Planning

Although marketing theory supports the contrary, it is more probable that marketing budgets will be cut during periods of economic a) prosperity b) uncertainty c) recovery d) expansion e) recession

As the Industrial Revolution came to the United States, most firms operated in a(n) ___________ orientation. a) marketing b) societal c) sales d) evolutionary e) production

Changing the hours of operation for a service business involves the _____ component of the marketing mix. a)price b) good c) product d) promotion e) distribution

Consumer confidence is at a low during periods of a) recession. b) prosperity. c) recovery. d) slowdown. e) depression.

Consumers begin to become more price and value conscious during periods of a) prosperity b) uncertainty c) recovery d) expansion e) recession

Consumers buying products online have dramatically affected the ___________ variable of the marketing mix. a)price b) good c) product d) promotion e) distribution

Discretionary income is associated with all of the following except a) automobiles. b) education. C) pets. d) furniture. e) food.

Issues of inventory levels and storage costs are both concerns relating to the _____ variable of the marketing mix. a)price b) good c) product d) promotion e) distribution

Mark goes to a vending machine, deposits $1.00, and receives a Sprite. Which one of the following aspects of the definition of marketing is illustrated here? a) Production conception b) Satisfaction of organizational goals c) Distribution of ideas d) Product planning e) Exchange

Marketers who attempt to influence and change the various environmental forces have a(n) _____ response to these forces. a) reactive b) inactive c) variable d) positive e) proactive

Marketing activities a) are aimed at persuading customers through advertising. b) involve mainly distribution and promotion decisions. c) and selling activities are basically the same. d) are important only when a firm is developing new products or entering new markets. e) help sell an organization's products and generate financial resources for the firm.

Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship? a) Profits for the seller b) A good bargain on the product for the buyer c) Reducing the seller's inventory d) One party having to compromise in the exchange e) Satisfaction for both the buyer and seller

One way for corporations to attempt to influence the political environment is through a) special benefits to employees. b) direct contributions to candidates. c) contributions to elected officials. d) contributions to political action committees. e) organizing political action committees.

Texas rice farmers wish to get their product into the Japanese market but are hindered by a complex maze of regulations imposed by the Japanese government. The farmers are most likely to attempt to influence which aspect of the marketing environment? a) Sociocultural b) Technological c) Competitive d) Economic e) Political

The Church of the Latter Day Saints has used advertising for many years to market its a)goods. b)services. c)experiences. d)production. e)ideas.

The application of mechanical and human efforts to either people or objects to provide intangible benefits to customers is known as a(n) a)issue. b) experience. c)idea. d) good. e) service.

The element of the marketing mix used to increase awareness of a product or company is a)communication. b)product. c) price. d) distribution. e) promotion.

relationship marketing

establishing long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges

A marketer that targets customers based on marital status and the presence and age of children is using

family life cycle

If Campbell were to offer single serving "Soup for One" packages to small household markets, it would be using segmentation based on

family life cycle

one half

for most firms, the costs of marketing activities consume approximately what portion of the consumer's dollar?

sales

from the 1920s to the 1950s, demand for manufactured goods decreased, leading to what orientation?

marketing unit

functions, products, regions, types of customers, or a combination of all four organizes what?

Justin Franklin's company is interested in locating areas where the average income is high, the average age range is 25-35 years, and the lifestyles of the people involve extreme adventures and dangerous leisure activities. His company would most likely find possible markets through ______

geodemographic segmentation

Population density and city size are _______ variables used for market segmentation.

geographic

If PepsiCo and Coca-Cola use celebrities to challenge the taste of the other firm's cola, this is referred to as ___________ positioning.

head to head

question mark

high growth market- low market share

Many marketers are concerned about the number of potential customers within a certain area of land because of the different requirements to serve dissimilar areas. What is this segmentation variable called?

market density

competition

marketers often speak of the "controllable" variables in the practice of marketing. which of the following is not considered one of the controlled variables? product, price, distribution, competition, promotion

satisfaction for both the buyer and seller

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

a market segmentation approach in which firms focus precise marketing efforts on very small geographic markets

micromarketing

For demographic purposes, a mail survey sent out by the American Cancer Society asks each respondent to identify their race by choosing among a list of possibilities. This common type of question is called a(n) ____________ question. Select one: a. open-ended b. categorized c. multiple choice d. dichotomous e. optional response

multiple choice

how they satisfy customers

organizations should define themselves not according to the products they produce but according to

The three most commonly used psychographic segmentation variables are

personality, motives, lifestyles

exchange

provision or transfer of goods, services, or ideas in return for something of value

Which sampling design gives every member of the population an equal chance of appearing in the sample? Select one: a. Quota b. Random c. Nonprobability d. Stratified e. Poll

random

efficiency

refers to minimizing the resources an organization must spend to achieve a specific level of desired exchanges

A forecasting method that predicts sales based on relationships between past sales and other variables is called

regression analysis

Katy Ramirez is a marketer for a golf equipment manufacturer. When forecasting company sales, she finds a direct association between past sales and per capita income. Which sales forecasting technique is Katy using?

regression analysis

In the context of marketing, cannibalization means

sales of a new product hurts sales of the company's existing products

Characteristics of individuals, groups, or organizations that are used for dividing a total market into smaller homogeneous groups are called ___________ variables.

segmentation

Age, rate of product use, location, and gender are all examples of common

segmentation variables

The final step in the target market selection process is

selecting specific target markets

The forces of the marketing environment include

social cultural, competitive, economic, political, legal irregulation, technological

service

the application of mechanical and human efforts to either people or objects to provide intangible benefits to customers

Product positioning refers to

the decisions and activities intended to create and maintain a certain concept of the firm's product in customers' minds.

effectiveness

the degree to which an exchange helps achieve an organization's objectives

customers

the focal point of all marketing activities

Online sales account for about ____ percent of all retail sales in the U.S.

buying behavior

managing customer relationships requires identifying patterns of _________ and then using that information to focus on the most promising and profitable customers

The total volume of a product, for all firms in an industry, that would be purchased by specific customer groups within a specified time period at a given level of industry-wide marketing activity, is the _____

market potential

promotion

the element of the marketing mix used to increase awareness of a product or company

value=customer benefits-customer costs

the equation a buyer applies to assess a product's value

When a firm designs a single marketing mix and directs it at an entire market for a particular product, the company is using a(n) _________ strategy.

undifferentiated

To find a target market, a firm can use the

undifferentiated strategy, the concentrated strategy, and the differentiated strategy

An offshoot of mail surveys, ______ have shortcomings because the people who participate in them generally have higher incomes and education levels than the general population. a) purchase diaries b) telephone surveys c) online surveys d) focus-group interviews e) immediate feedback forms

An overall plan for obtaining the information needed to address a research problem or issue is called the a) research design. b) problem recognition. c) hypothesis. d) data collection method. e) sampling procedure.

A framework for gathering and managing information from sources both inside and outside an organization is referred to as a) marketing research agencies. b) a marketing information system. c) the marketing mix. d) a marketing research system. e) a secondary data system.

A study that is valid and reliable a) is called a marketing research study. b) measures what it is supposed to measure and produces almost identical results every time. c) is expensive to implement and complete. d) measures subtle differences in the population being studied. e) is difficult to produce without expert researchers.

American Flooring sells all types of floor coverings to contractors and other businesses. It keeps a collection of information about all of its clients that can be easily accessed on the company's computer system. This collection of information is called a a) marketing information system. b) database. c) management information system. d) single-source data. e) marketing decision support system.

For demographic purposes, a mail survey sent out by the American Cancer Society asks each respondent to identify their race by choosing among a list of possibilities. This common type of question is called a(n) _____ question. a) dichotomous b) multiple-choice c) categorized d) open-ended e) optional respons

If Carrie wants to do some market research about the footwear industry that her company is a part of, but she has limited money and time, she would most likely collect a) sampling units. b) secondary data. c) quota data. d) primary data. e) survey data.

If a marketing researcher is interested in observing group interaction during an informal, unstructured, and open-ended data collection process, he or she should use a) observation. b) a focus-group interview. c) an on-site computer interview. d) a shopping mall intercept interview. e) a telephone survey.

If you were to choose a sample with which to study the market for preschool toys in Illinois, the population would logically be defined as all a) children in Illinois. b) families in Illinois that have or are expecting preschool children. c) people in Illinois. d) preschools in Illinois. e) preschool children in Illinois.

Marketers often begin the data collection phase of a research project by gathering secondary data. This type of information may come from both ___________ and ___________ sources. a) government; business b) internal; external c) primary; secondary d) formal; informal e) collected; distributed

Avon believes that sales of one of its lipstick lines have fallen due to the introduction of a new lipstick line, but it wants to make this tentative hypothesis more specific before proceeding. Avon should conduct a) experimental research. b) hypothesis testing. c) exploratory research. d) conclusive research. e) descriptive research.

Bart's Appliance Center owner Ron Bart feels that his organization has access to a great deal of information generated both inside and outside the firm, but much of this information is presently going to waste. Apparently, Bart needs to develop a a) marketing research focus. b) marketing knowledge bank. c) marketing information system. d) marketing strategy. e) data-gathering system.

Carlos was given the task of conducting a research project for his firm and proceeds with the following steps: he asks questions to determine the research topic, conducts a telephone survey, writes a report describing the survey results, and gives that report to his boss. Which step of the marketing research process has Carlos omitted? a) Collecting data b) Defining and locating problems c) Interpreting research d) Designing the research project e) Reporting research findings

Colin decided to apply some of the things he had learned in his MBA marketing research class to his business. The first thing he did was to a) develop a questionnaire. b) identify a sample frame. c) define the problem to be researched. d) conduct store exit interviews. e) collect secondary data.

Having recording biases and collecting only descriptive information are two of the primary drawbacks to a) statistical interpretation. b) mail surveys. c) observation. d) personal interviews. e) experimentation.

If Bloomingdale's wants to learn about consumers' attitudes toward on-line purchases and conducts a study to acquire this information, this study would collect ____________ data. a) causal b) experimental c) primary d) laboratory e) secondary

Patricia Robertson is running for Congress from the Sixth District in her state. She is interested in knowing the intended choices of the voters. All the registered voters in her district would constitute the study's a) experiment. b) dependent variable. c) population. d) independent variable. e) sample.

Research that is conducted to clarify the characteristics of certain phenomena to solve a particular problem is called ______ research. a) primary b) experimental c) descriptive d) secondary e) exploratory

Suppose that marketers at Lever Bros. are trying to determine whether the use of free samples of Snuggle fabric softener was the reason for a sales increase in a particular store. The type of research conducted to answer this question is a) exploratory. b) descriptive. c) experimental. d) informal. e) qualitative.

The 5,000 households that allowed their group purchases to be scanned are a a) focus group. b) quota. c) sample. d) target market. e) population.

The main focus of a marketing information system is on a) the coordination of external information sources. b) classifying data into the proper information categories. c) data storage and retrieval. d) the accurate maintenance of inventory levels. e) gathering information on competitive activity.

The manager of MegaMarket is interested in asking consumers what they think about the store's new layout and expanded produce selection. If the manager would like to obtain a high response rate and have the study conducted as quickly as possible, which data collection method would you recommend? a) Mail survey b) Direct observation of consumers in the store c) Telephone survey d) Focus-group interview e) Shopping mall intercept interview

The marketing Mix is built around the A) product. B) company. C) customer. D) employee. E) retail outlet.

The objective of sampling in marketing research is to a) obtain responses from as many people as possible. b) control independent variables that might influence research results. c) select representative units from a total population. d) ensure that measures in the study are reliable. e) provide data that can be used to test the hypotheses being investigated.

When more information is needed about a problem and a tentative hypothesis needs to be made more specific, marketers usually conduct _________ research. a) descriptive b) experimental c) exploratory d) analytical statistical e) conclusive

What is customer relationship management?

CPM is using info about customers to create marketing strategies that develop desirable customer relationships

What are we concerned with?

Competitve forces

Secondary data cannot be obtained from a) trade journals. b) the government. c) international sources. d) surveys. e) computerized literature retrieval databases.

2 categories of competition

Direct (take customers away) and Indirect (anything else)

AOL Time Warner uses its sales reports broken down by geographic regions as part of its marketing research to determine which markets are most rapidly adopting high-speed Internet connections. In this example, AOL Time Warner is using a) internal sampling. b) internal primary data. c) external secondary data. d) external primary data. e) internal secondary data.

All of the following are steps in the marketing research process except a) collecting data. b) interpreting research findings. c) designing the research project. d) reporting research findings. e) understanding your customer.

Behavior Scan, a research company, provides information on household demographics, television viewing habits, and purchases tracked with Hotline cards. This is a) a marketing information system. b) a business software database. c) online information. d) U.S. Census data. e) single-source data.

Colin developed a research design to aid his investigation. This design included a questionnaire that attempted to measure "outdoor activity preferences"; however, Colin's MBA professor said that the questionnaire measured not "outdoor activity preferences" but something else. The professor was questioning the research design's a) reliability. b) significance. c) truthfulness. d) corroboration. e) validity.

If Georgia-Pacific seeks information about trends in housing starts around the country and uses U.S. Department of Commerce reports to get this information, it is using ___________ data. a) causal b) exploratory c) primary d) laboratory e) secondary

If Little Caesars wants to determine the impact of different coupon offers on pizza unit sales, it needs to conduct a) exploratory research. b) hypothesis development. c) survey research. d) stratified sampling. e) experimental research.

If the University Bookstore wanted to understand the textbook and school supplies needs on the campus of the University of Michigan, the population of study would be a) the faculty and staff of the University of Michigan. b) all college-aged adults in the state of Michigan. c) all the people who live in Ann Arbor and surrounding areas. d) undergraduate students at the University of Michigan. e) all students, faculty, supporters, and staff of the University of Michigan.

In ___________ sampling, there is no way to calculate the likelihood that a specific element of the population being studied will be chosen. a) population b) random c) stratified d) probability e) nonprobability

In what type of sampling does every element have a known chance of being selected for study? a) Quota b) Stratified c) Random d) Nonprobability e) Probability

In which type of sampling design is the final choice of respondents left up to the interviewer? a) Stratified b) Random c) Cluster d) Area e) Quota

The National Do-Not-Call list affects the ability of marketing researchers to use a) mail surveys. b) sampling. c) personal interview surveys. d) in-home interviews. e) telephone surveys.

When marketing researchers try to manipulate an independent variable and measure the resulting changes in a dependent variable, they are engaging in a) surveys. b) secondary data gathering. c) interviews. d) observation. e) experimentation.

_____ that are either accepted or rejected become the primary conclusions of a marketing research study. a) Descriptions b) Issues c) Primary data d) Samples e) Hypotheses

Difference between market and market shares

Focus on market shares and what piece of pie you have

If Little Caesars wants to determine the impact of different coupon offers on pizza unit sales, it needs to conduct Select one: a. exploratory research. b. hypothesis development. c. survey research. d. experimental research. e. stratified sampling.

Hypothesis development

Time Warner Cable uses its sales reports broken down by geographic regions as part of its marketing research to determine which markets are most rapidly adopting high-speed Internet connections. In this example, Time Warner Cable is using Select one: a. internal secondary data. b. external primary data. c. internal sampling. d. external secondary data. e. internal primary data.

Internal secondary data

What happens if a customer comes back more than once?

It is a 100% return

Marketing management

It is process of planning, organizing, implementing and controlling marketing activities to facilitate exchanges affecting and efficiently

CASH COW

Low growth-dominate market share

Mission

Main thing we run decisions through (COMPASS)

Environmental scanning

Process of COLLECTING and GATHERING INFORMATION

Whats Marketing?

Process of creating, distributing, promoting and pricing goods, services and ideas to facilitate satisfying relationships with customers in a dynamic environment.

Strategic planning

Process of establishing an organizational mission and formulating goals, corporate strategies, marketing objectives, marketing strategy and a marketing plan

The marketing concept is

a management philosphy

A physical product you can touch is a(n) a) service. b) good. c) idea.

When markets are comprised of people with differing product needs, the marketing manager should use a(n) ___________ strategy.

concentrated or differentiated

monetary price

customer costs include anything the buyer must give up in order to obtain the benefits the product provides. the most obvious customer cost is risk, time, monetary price, effort, availability

information

customer relationship management (CRM) begins its focus on customers with

Customer relationship management (CRM) begins its focus on customers with a) communication. b) product. c) distribution. d) information. e) promotion.

The psychographic variable that includes numerous characteristics related to people's activities, interests, and opinion is

lifestyle

Family life cycle is most typically based on

marital status and ages of children

__________ describe the similarities among potential customers within a market segment and explain the differences among people in different market segments.

market segment profiles

Which of the following sales forecasting techniques would generally be most suitable for estimating sales of a new product?

market tests

Retail-site location analyses, unique product offerings, and special advertising campaigns are all examples of the use of

micromarketing

all is true except

product positioning is the customer's absolute perception of a product's attributes

achieve the organization's goals

the marking concept is a philosophy that states that an organization should try to satisfy customers' needs and also

implementation

the part of marketing plans that hinges on coordination of marketing activities, motivation of marketing personnel, and effective communication within the marketing unit

Which of the following is the biggest drawback to using psychographic variables?

they are hard to measur

An item on the University Book Store's survey asks respondents to tell the store, in their own words, what they like least about textbook shopping. This item would be an example of a(n) ___________ question. a) open-ended b) dichotomous c) forced-sum-choice d) multiple-choice e) limited-choice

Emily Dawson 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. This method is called a a) focus-group interview. b) group survey. c) personal interview survey. d) sampling team. e) mail survey.

Information from the U.S. Census Bureau is commonly used as ____ by a variety of agencies and organizations. a) external secondary data b) sampling systems c) primary data d) internal secondary data e) hypotheses

Wade is puzzled by the recent decrease in sales at one of the Auto Zone locations for which he is the regional manager. He knows the best way to approach this problem and obtain accurate information is to use a) the marketing research process. b) the opinions of store managers. c) company sales' data. d) hypothesis testing. e) stratified sampling of customers.

Market Opportunity

A combo of circumstances and timing that permits an organization to reach a target market

SWOT ANALYSIS

An assessment of an organizations strengths and weaknesses (internal) opportunities and threats (external)

A target market A) involves a large number of customers B) is a specific group of customers on whom a company focuses its marketing efforts. C) already has several competitors vying for customers' business. D) is the same as a salesperson's prospective client list. E) is a customer group classified as people with similar demographic characteristics.

If Staples believes that most of its sales are to businesses rather than consumers and that women are more likely to be making purchasing decisions, this would be a(n) ______ that Staples could test through marketing research. a) description b) hypothesis c) explanation d) sample e) experiment

One overlooked internal source of secondary marketing information discussed in the text is a) sales receipts. b) accounting records. c) interviews with salespeople. d) quality control data. e) consumer surveys.

Which of the following basic survey methods is the least expensive method if there is an adequate response rate? a) Mail surveys b) Online surveys c) Telephone surveys d) Personal interview surveys e) Focus groups

In marketing research, a sample is best described as a) a small group that is a part of a larger group. b) all the elements, units, or individuals of interest to researchers for a specific study. c) a limited number of units chosen to represent the characteristics of a total population. d) a group that shares a common attribute within a population. e) a small portion of a product offered to customers to try a new product.

Maggie has limited funds for collecting data about a new pricing strategy, but she needs data from a wide geographic area. Under these circumstances, Maggie should use a) telephone surveys. b) in-home interviews. c) mail surveys. d) shopping mall intercept interviews. e) focus-group interviews

Marketing research is a process designed to gather information a) exclusively about a company's customers. b) from the company's database. c) not currently available to decision makers. d) about the needs and desires of employees. e) concerning the interpretation of the company's sales goals

When a market researcher is using ethnographic techniques, he or she is engaging in a) mail surveys. b) personal interview surveys. c) observation. d) experimentation. e) focus groups.

Which of the following best describes Nintendo's initial strategy when introducing the Wii? A) Increase its sales of software to current gamers B) Increase its sales of game consoles to the under-25 market C) Increase its sales of game consoles by broadening the appeal of gaming to all ages

C) Increase its sales of game consoles by broadening the appeal of gaming to all ages

Cameras, counting machines, and scanners are used most often in a) surveys. b) secondary data gathering. c) field settings. d) observation. e) experimentation.

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 a) focus groups. b) mail surveys. c) personal interviews. d) observation. e) mall intercepts.

In which of the following sampling designs do all members of a population have an equal chance of being selected? a) Stratified b) Nonprobability c) Quota d) Random e) Judgment

Kashi's testing of the Crunchy Wheat promotion is an example of a) the collection of secondary data. b) information feedback. c) an exploratory study. d) a descriptive study. e) defining and locating problems.

Marketing researchers typically favor ___________ because they are extremely flexible. a) mail surveys b) direct observation c) experiments d) personal interviews e) telephone surveys

Pointing out any deficiencies and the possible reasons for them should be done in the _______ step of the marketing research process. a) interpreting research findings b) collecting data c) defining the issue or problem d) reporting research findings e) designing the research project

Research designed to verify insights through an objective procedure to help marketers to choose between several alternatives is called a) primary. b) secondary. c) exploratory. d) conclusive. e) hypothetical.

Spam and privacy are both issues of concern related to a) personal interview surveys. b) telephone surveys. c) shopping mall intercept interviews. d) e-mail surveys. e) online experimentation.

Subscription services from firms such as ACNielsen provide marketing researchers with a good source of ___________ data. a) census b) statistical c) internal secondary d) external secondary e) primary

A valid study a) portrays the population being studied. b) results in a causal relationship between the independent and dependent variables. c) uses random sampling. d) verifies expected results. e) measures what it is supposed to.

Compared to a mail survey, telephone surveys have a) lower response rates. b) a slower response time. c) invalid results. d) fewer expenses. e) higher response rates.

Problem location and definition is the first step toward finding a solution to a marketing problem or launching a research study. The first sign of a problem a) involves an informed guess or assumption about a certain set of circumstances. b) is usually accompanied by a cost/benefit analysis. c) most often comes in the form of customer complaints. d) is often mentioned in secondary data reports, such as trade journals. e) is typically a departure from some normal function, such as a failure to attain objectives.

Quota sampling is most commonly used in a) descriptive research. b) population research. c) surveys. d) collecting primary data. e) exploratory studies.

The following are all guidelines for questionnaire construction that support ethical marketing research except to a) allow the interviewer to introduce him/herself by name. b) indicate that this is a marketing research project. c) explain that no sales will be involved. d) state the likely duration of the interview. e) keep the name of the research company confidential.

When marketing researchers consider sampling techniques, they are preparing to collect ___________ data. a) census b) statistical c) internal secondary d) external secondary e) primary

When the researchers compared the average sales of Crunchy Wheat for the group that saw the promotion with the average sales for the group that did not see the promotion, in which stage of the marketing research process were they? a) Defining and locating problems b) Reporting research findings c) Developing hypotheses d) Collecting data e) Interpreting research findings

Which of the following statements about conducting marketing research internationally is false? a) The marketing research process may need to be modified to allow for regional differences. b) A detailed search for and analysis of secondary data can help researchers gain a greater understanding of a particular marketing environment and pinpoint issues that must be taken into account in gathering primary research data. c) Primary data gathering may have a greater chance of success if the firm employs local researchers who better understand how to approach potential respondents and can do so in their own language. d) Specific differences among countries can have a profound influence in data gathering. e) Specific differences among countries have no affect on data gathering or the marketing research process.

Which of the following survey methods has the potential to offer quick response at a lower cost than traditional mail and telephone surveys? a) Total population surveys b) In-home (door-to-door) interviews c) Focus-group interviews d) Personal interview surveys e) Online surveys

Marketing Planning

Internal and defines the assignment of responsibilities and tasks and sets schedules for implementation

DOG

Low declining market-subordinate market share

Environmental analysists

We ASSESS and INTERPRET the info from environmental scanning

There is some concern that marketing research has been used incorrectly by some firms. The major problem comes from __________ because the researcher wants to obtain favorable results. Select one: a. trying to be objective about views and opinions b. using an inappropriate sample c. employing large research firms, such as Gallup d. bias and distortion e. using in-house research departments

bias and distortion

A targeting strategy in which an organization targets a single market segment using one marketing mix is called a(n) _____ strategy.

concentrated

Several conditions must exist for market segmentation to be successful. These conditions include all of the following except

customer needs must be homogeneous

Primary data are best described as the Select one: a. data that are necessary for a correct decision. b. data that are compiled for some other purpose other than the study in question. c. data that are collected inside and outside the organization for some purpose other than the current investigation. d. data that are observed, recorded, or collected directly from subjects. e. first batch of data collected for a specific study.

data that are observed, recorded, or collected directly from subjects.

product

deciding to add gel insoles to its running shoes would be a change in which of the following elements of the marking mix for nike? price, good, product, promotion, distribution

Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n) ___________ targeting strategy for laundry detergents.

differentiated

Adolescents are not considered part of the market for casinos because they

have little buying power

The first step in the target market selection process is

identifying an appropriate target strategy

$1,000

if a family spends $2,000 a month on goods and services, how much of that $2,000 goes for marketing activities?

The real value of marketing research to the organization can best be measured by Select one: a. its immediate impact on profits. b. the amount of time spent. c. how much it costs. d. improvements in the ability to make decisions. e. the increase in sales volume or market share.

improvements in the ability to make decisions

Individuals, groups, or organizations with one or more similar characteristics that cause them to have similar product needs are classified as

market segments

The sales forecasting method that consists of making a product available to buyers in one or more locations and measuring purchase response is

market test

matches the needs of the target market

marketing managers strive to develop a marking mix that

A study that is valid and reliable Select one: a. is difficult to produce without expert researchers. b. is expensive to implement and complete. c. measures subtle differences in the population being studied and produces almost identical results in repeated trials. d. is called a marketing research study. e. measures what it is supposed to measure and produces almost identical results in repeated trials.

measures what is supposed to measure and produces almost identical results in repeated trials

Cameras, counting machines, and scanners are used most often in Select one: a. surveys. b. experimentation. c. observation. d. field settings. e. secondary data gathering.

observation

An item on the University Book Store's survey asks respondents to tell the store, in their own words, what they like least about textbook shopping. This item would be an example of a(n) __________ question. Select one: a. dichotomous b. multiple-choice c. force-sum-choice d. open-ended e. limited-choice

open-ended

Soft Shave is a shaving cream aimed primarily at women. The activities and decisions involved in developing and maintaining Soft Shave's product concept in buyers' minds are called

product positioning

Positioning a product to avoid competition may be best when the

product's performance characteristics are not significantly different from those of competing brands.

Guess? will be spending $22 million on marketing activities next year and expects to sell 30 million pairs of jeans. These 30 million pairs represent the company's

sales forecast

The objective of sampling in marketing research is to Select one: a. provide data that can be used to test the hypotheses being investigated. b. control independent variables that might influence research results. c. ensure that measures in the study are reliable. d. select representative units from a total population. e. obtain responses from as many people as possible.

select representative units from a total population

both customers and businesses

should receive benefits from exchange relationships according to the definition of marketing

all organizational activities

the marketing concept affects (choose one) just the marketing department all organizational activities only marketing and finance only production and marketing few decisions in an organization

abuse counselor

which of the following is most likely to be an idea marketer? car salesperson, airline pilot, attorney, abuse counselor, orthodontist

A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. What are the essential variables that the marketing manager combines? A) Product, price, distribution, and promotion variables B) Marketing environment variables C) Product and promotion variables D) Product, price, and customer variables

Darren uses Microsoft Excel to determine how much the responses to his survey about household decision making for toilet paper vary. Darren is in the ______ step of the marketing research process. a) interpreting research findings b) reporting research findings c) collecting data d) designing the research project e) developing a hypothesis

Participants in _______ frequently get to see pictures, products, advertising samples, and diagrams. a) online surveys b) personal interview surveys c) mail surveys d) telephone surveys e) probability samples

Which of the following statements about the undifferentiated targeting strategy is false?

The undifferentiated targeting strategy uses multiple distribution systems to best reach individuals in the target market.

Approximately what percentage of civilian workers in the United States performs marketing activities? a) 25 to 33 percent b) 81 to 92 percent c) 42 to 50 percent

During which stage of the business cycle is unemployment low and total income relatively high? a) prosperity b) depression c) recovery d) succession e) recession

When Burger King offers 99-cent Whoppers to increase store traffic, it is altering which aspect of the marketing mix? a) Price b) Promotion c) Distribution d) Product e) Target market

value

a customer's subjective assessment of benefits relative to costs in determining the worth of a product

Marketing is the process of: A) promoting products through personal selling and advertising to develop and maintain favorable relationships with customers and stakeholders. B) 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. C) delivering a standard of living to a society. D) creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the achievement of the firm's objectives. E) focusing on customers' needs.

b) 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.

Deciding to add gel insoles to its running shoes would be a change in the _____ element of the marketing mix for Nike. a)price b) good c) product d) promotion e) distribution

The accumulation of past income, natural resources, and financial resources is known as a) income b) collected income c) credit d) wealth e) savings

Volkswagen markets its Routan to large families, its R32 race car to men, and its Jetta to young singles. What targeting approach is Volkswagen using?

differentiated

The purpose of market segmentation is to

divide a total market to enable a marketer to develop a more precise marketing mix.

marketing knowledge and skills

enhance consumer awareness and help provide people with satisfying goods and services

A market in which a large proportion of customers have similar needs for a product is called a(n) _____ market.

homogeneous

Which of the following is not a requirement or characteristic of a market?

large number of people

customer relationship management

long-term relationships with profitable customers is the key objective of what?

services, ideas, and goods

the three basic forms that a product can take

Marketing Mix

4 activities- product, distribution (placement), promotion, pricing (4 P's)

Before administering the questionnaire, Colin discovered through talking to other sports rental businesses that, although retired males made up a small percentage of the area's population, they often rented kayaks and canoes. In light of this, Colin decided to include a minimum of 25 percent retired males in his sample. The final choice of respondents was left up to the interviewers. This sampling method is known as ___________ sampling. a) quota b) stratified c) random d) representative e) area

In the process of conducting marketing research, marketers should allow for a) periodic review of data during the collection period. b) continual evaluation of the data during the entire collection period. c) no data review during collection; instead, they should wait for later interpretation of research findings. d) descriptive research to solve general problems. e) statistical analysis during the collection period.

The two basic types of sampling that marketing researchers use are a) random and nonrandom. b) probability and nonprobability. c) stratified and quota. d) even and odd. e) planned and spontaneous

Research that allows marketers to make causal inferences about relationships is called a) variable research. b) relationality. c) exploratory research. d) linkage research. e) experimental research.

BCG Classification (Boston consultant group matrix)

STAR-CASH COW-DOG-QUESTION MARK

Marketing Concept

Satisfy customers, focus what your customers want, if they're satisfied it is all part of building the relationship

Assuming that inflation is low, high buying power characterizes the _____ stage of the business cycle. a) prosperity b) depression c) recovery d) succession e) recession

Boca Burger's website features information about products, recipes, and nutritional values, but customers cannot actually purchase products from the website. This website is most likely used primarily as a ______ marketing tool. a) promotional b) distributional c) pricing d) targeting e) production

Which of the following acts was enacted to prevent businesses from restraining trade and monopolizing markets? a) Sherman Antitrust Act b) Clayton Act c) Federal Trade Commission Act d) Robinson-Patman e) Act Wheeler-Lea Act

marketing concept

a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allowed the organization to achieve its goals

market orientation

an organization-wide effort that includes researching customers' needs, generating marketing intelligence for use in the organization, being responsive to customers' ever-changing wants and needs, and disseminating marketing intelligence across departments within the organization

Decreasing sales, increasing expenses, or decreasing profits Select one: a. are important considerations in designing the research project. b. should be carefully considered before collecting data. c. usually have no effect on the marketing research process. d. are examples of symptoms that point to larger problems. e. are to be expected during the marketing research process.

are examples of symptoms that point to larger problems

The manager at a local recreational vehicle store, Off-Road Rage, believes the next two years will be difficult because of an economic recession. Using this forecast, he determines the effect on the industry's market potential and then estimates how his company's potential sales will look based on this outlook. This manager is using a _________ approach to estimating sales potential.

breakdown

According to the marketing concept, an organization should try to a) consider short-run objectives and cash flow needs before developing new products. b) define its business as "making a product." c) provide products that satisfy customers' needs and allow the organization to achieve its goals.

By offering credit and financing through its GMAC division, General Motors is trying to help consumers a) expand future buying power at the expense of current buying power. b) expand disposable income at the expense of discretionary income. c) expand current buying power at the expense of future buying power. d) expand both disposable income and wealth. e)decrease both disposable and discretionary income.

Price discrimination is prohibited by the ___________ Act. a) Sherman Act b) Clayton Act c) Robinson-Patman Act d) Lanham Act e) Celler-Kefauver Act

The American automobile industry used to be dominated by "The Big Three," including General Motors, Ford, and Chrysler. However, as many more foreign competitors began influencing this market, the American companies had to modify and differentiate their products. The automobile industry moved from a(n) ______ structure to a(n) _______ structure. a) monopolistic; oligopolistic b) oligopolistic; pure competition c) oligopolistic; monopolistic competition d) monopolistic competition; pure competition e) monopolistic; monopolistic competition

Which of the following attributes of a Toyota Scion would be most appropriate to emphasize in television commercials during an economic recession? a) Stereo system b) Prestige c) Durability d) Leg room

Corporate executives often prefer marketing research findings to be put into a report Select one: a. expressing the views and beliefs of top management about the research problem. b. examining the ethical implications of implementing results from the research report. c. that exposes no deficiencies or limitations of the research process. d. that is clear, short, and simply expressed. e. full of statistical analysis with details on methods employed by the researchers.

clear, short, and simply expressed

Consumerism is a a) diverse group of individuals and organizations opposed to foreign producers that sell products in the United States that are much cheaper than those produced by U.S. manufacturers. b) social movement that is trying to encourage consumer satisfaction. c) social movement that is reorganizing the Council of Better Business Bureaus. d) diverse group of individuals and organizations attempting to protect the rights of consumers. e) social movement that provides consumers with means for expressing satisfaction and expressing their gratitude to producers.

Heidi decided to spend some of her saved money on tickets to a Cold Play concert coming to town, and now she is planning on buying a new outfit for the concert. What type of resources is Heidi making decisions about? a) Disposable income b) Wealth c) Buying power d) Discretionary income e) Savings income

___________ competitors are those that compete in the same product class, but their products have different features, benefits, and prices. a) Brand b) Generic c) Total budget d) Product e) price

Marketing research is best defined as Select one: a. the collecting of data from secondary sources and internal documents. b. an intuitive process for making decisions based on personal knowledge and experience to take advantage of market opportunities. c. a framework for the day-to-day management and structuring of information gathered by marketers. d. the systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of market opportunities. e. a continuous gathering of data for an organization, the systematic design, collection, to make marketing decisions take advantage of market opportunities.

d. the systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of market opportunities.

In order to be considered a market, people do not have to have

discretionary income to purchase the product

The textbook suggests that the best approach a firm can take in responding to marketing environmental forces is a) reactive. b) proactive. c) inactive. d) active. e) variable.

When using credit to make purchases, consumers are a) decreasing current buying power and increasing future buying power. b) increasing their present discretionary income to extend purchasing power. c) putting themselves at significant risk of financial disaster. d) forgoing the accumulation of wealth to increase current income. e) increasing current buying power at the expense of future buying power.

Which of the following best characterizes the forces of the marketing environment? a)The forces are relatively stable over time and are interrelated with one another. b)There are few overlapping aspects of these forces; therefore, a change in one is unlikely to result in a change in another. c)The various forces ensure that the marketing environment will remain fairly certain in the future. d)These forces change dramatically over time, but a change in one force is unlikely to impact another force. e)The forces change dramatically and quickly, and a change in one force is likely to affect the other forces.

________ is a customer's subjective assessment of benefits relative to costs in determining the worth of a product. a) Marketing orientation b) Monetary price c) Product assessment d) Price assessment e) Value

Cosmopolitan magazine, Secret deodorant, and Eve cigarettes are all products whose marketers have used segmentation based on

gender

marketing activities

help sell an organization's products and general financial resources for the firm

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

heterogeneous

Toyota has learned that some people want sports cars, while others want vans, trucks, sedans, and economy cars. In this instance, Toyota has found its markets to be

heterogeneous

Compared to a mail survey, telephone surveys have Select one: a. a slower response time, but less cost b. faster response time, but less cost c. fewer expenses overall d. lower response rates but higher validity e. higher response rates, but higher costs

higher response rates, but higher costs

green marketing

initiatives intended to improve an organization's positive impact on society and the natural environment

distribution

issues of inventory levels and storage costs are both concerns relating to which of the following variables of the marketing mix? distribution, product, exchange, price, promotion

the forces of the marketing environment

political, legal and regulatory, sociocultural, technological, economic, and competitive the forces change dramatically and quickly, and a change in one force is likely to affect the other forces

All the elements, individuals, or units of interest to researchers for a specific study are called the Select one: a. sample. b. population. c. focus group. d. target market. e. data set.

population

the price charged for the product

the primary value that a marketer expects to receive from a customer in an exchange relationship

Consumers that do not own dogs are not likely to be in the market for dog food because

they do not have a need for it

Which of the following is an example of a behavioristic segmentation variable?

usage rate

Through marketing newsprint to newspaper publishers and glass manufacturers that use it in packing, International Paper segments its market based on

use of product

marketing activities

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

Total buying power declines during periods of economic a) prosperity b) uncertainty c) recovery d) expansion e) recession

Which of the following is most likely to be an idea marketer? a) Car salesperson b) Airline pilot c) Attorney d) Abuse counselor

Costco believes that most of its sales are to small businesses rather than consumers -- and that women are more likely to be making the purchasing decisions. This is an example of a(n) ___________ that Costco could test through marketing research. Select one: a. hypothesis b. conceptual error c. experimental question d. sampling error e. descriptive sample

hypothesis

Designing research procedures that produce reliable marketing data means that a) others using the same procedure will get almost identical data. b) the procedure must give results that support the hypothesis. c) the procedure must not give results that contradict other research studies. d) the procedure may give results that contradict other research studies. e) sampling must be done in a completely random manner

Information provided by a single firm on household demographics, consumer purchases, television viewing behavior, and responses to promotions is called ___________ data. a) single-source b) census c) consumer demographic d) multi-point e) single-point

Marketing research is best defined as a) the systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of market opportunities. b) a framework for the day-to-day management and structuring of information gathered by marketers. c) a continuous gathering of data for an organization to make marketing decisions d) the collecting of data from secondary sources and internal documents. e) an intuitive process for making decisions based on personal knowledge and experience.

Marketing researchers at Essex Co. repeated a particular experiment several times and discovered that the results produced each time were nearly identical. This phenomenon would indicate that the results were a) reliable. b) valid. c) unusable. d) predictable. e) compatible.

Marriott wants to collect data about employee satisfaction within its organization. It decides to survey a sample of 50 employees by having a computer program automatically pick which employees will be in the sample. If every employee has an equal chance of being selected, Marriott is using a) random sampling. b) sampling populations. c) stratified sampling. d) nonprobability sampling. e) quota sampling.

Peter Demos, director of marketing at Holcomb, Inc., calls in Andrea Carter, the firm's marketing research director. Peter wants a study done to assess the company's image relative to a new competitor, Levitt Labs. He has a flexible time schedule, has very little money to devote to the research, and feels that a relatively low response rate will not be a major problem. Andrea will probably recommend using a ___________ survey. a) mail b) telephone c) random d) personal interview e) population

Jack Bateson knows his business has a problem because of an increasing number of consumer complaints received recently. He has decided how to make this problem a precise, researchable statement and should next move on to a) calculating reliability and validity. b) designing the research project. c) collecting data. d) interpreting research findings. e) taking corrective action.

Palmetto Regional Hospital has designed an upcoming research project for determining the best methods for improving patient care. The next step the organization must take in the marketing research process is a) interpreting research findings. b) collecting data. c) developing a testable hypothesis. d) sampling the population. e) reporting research findings.

Suppose that a retail store conducts a mail survey of its customers and finds that 50 percent of the customers believe store personnel are "courteous." Which benchmark or comparison would be most useful for interpreting this result? a) The annual dollars spent at the store by those customers who believe store personnel are courteous b) How the 50 percent figure compares with that for competitors c) The percentage of store personnel who have completed training in customer service and public relations d) How the 50 percent figure compares with industrial or wholesale institutions and stores e) The percentage of store personnel who feel they are courteous to customers

The major disadvantage of a mail survey versus a telephone or personal survey is a) having to offer premiums. b) the failure of respondents to return the questionnaire. c) the elimination of interview bias. d) the lack of open-ended questions. e) the cost.

There is some concern that marketing research has been used incorrectly by some firms. The major problem comes from ___________ because the researcher wants to obtain favorable results. a) using an inappropriate sample b) bias and distortion c) trying to be objective about views and opinions d) using in-house research departments e) employing large research firms, such as Gallup

What is the primary factor contributing to the increasing difficulty associated with gathering primary data through surveys? a) Most companies do not have any funding for survey research. b) Fewer people are willing to participate in surveys. c) Laws significantly limit firms' ability to conduct surveys. d) Unreliable methods of distributing surveys make them difficult to conduct. e) Very little useful information is ever gathered from survey results.

When Pepsi Max implemented a telephone survey to determine the effectiveness of a recent advertising campaign. One of the questions the interviewer asked was, "Have you ever heard of a cola with twice the caffeine of regular colas?" This is an example of which of the following kinds of questions? a) Open-ended b) Dichotomous c) Multiple-choice d) Imperative e) Declarative

Which one of the following best characterizes a marketing information system (MIS)? a) An MIS is an orderly gathering of information that is not supplied through routine reporting systems such as sales reports and accounting data. b) An MIS provides a continuous flow of information about such things as distribution costs, prices, sales, and advertising expenses. c) An MIS is conducted on a special-project basis when needed. d) An MIS requires adjustments to its techniques to adapt to environmental circumstances and is in reality part of the accounting system. e) An MIS involves internal information collection about employees and customers

Marketing information systems and marketing research have changed rapidly because customers and companies around the world have been linked by a) the computer. b) the super database. c) the Interactive network. d) electronic online services. e) evolving telecommunications.

If all the gas stations in a city collaborated to determine what gas prices should be charged, they would be violating the a) Sherman Antitrust Act b) Clayton Act c) Federal Trade Commission Act d) Robinson-Patman e) Act Wheeler-Lea Act

Many health care companies are making adaptations to meet the needs of an aging population as the demand for medical services and products such as diabetes supplies increases. This change in marketing strategy is best explained by a change in a) demographics. b) cultural values. c) income levels. d) consumerism. e) subcultures.

Marketers primarily focus their environmental analysis on ____ competitors. a) Brand b) Generic c) Total budget d) Product e) Monopolistic

Marketers use the term "___________" to describe establishing long-term, mutually satisfying buyer-seller relationships. a) relationship marketing b) customer service c) marketing management d) exchange e) utility

Marketers who view political forces as being beyond their control are taking a ___________ response toward these forces. a) reactive b) aggressive c) proactive d) competitive e) liberal

Procompetitive laws are those designed to a) preserve competition. b) protect the consumer. c) ensure product safety. d) reduce competition. e) limit business lobbying of government officials.

The Better Business Bureau is probably the best-known a) nongovernmental regulatory group. b) state-operated enforcement agency. c) national evaluator of advertisements. d) federal regulatory group. e) self-regulatory unit operating at the national level.

The amount of money received through wages, rents, investments, pensions, and subsidies is called a) income. b) wealth. c) discretionary income. d) prosperity. e) credit.

The forces of the marketing environment include a) political, legal and regulatory, sociocultural, technological, economic, and competitive. b) sociocultural, legal, regulatory, economic, and competitive. c) legal, regulatory, political, and sociocultural. d) competitive and noncompetitive forces that affect most lifestyles. e) fairly static components.

The forces of the marketing environment primarily affect marketers in three ways: They influence customers by affecting their lifestyles and preferences for products; they determine whether or how a marketing manager can perform certain marketing activities; and they a) affect a marketing manager's decisions and actions by influencing buyers' reactions to the firm's marketing mix. b) dictate that changes be made to the existing marketing mix despite any negative reactions from customers. c) make most new products obsolete very quickly so that research and development must continually develop new products.

The type of competitive structure that exists in the case where there are almost no substitutes for a product is a(n) a) Monopoly b) Oligopoly c) Monopolistic competition d) Pure competition e) noncompetition

To monitor changes in the marketing environment effectively, marketers must engage in a) environmental scanning and analysis. b) economic scanning c) self-regulatory analysis d) marketing research analysis e) information collecting

What type of competitive structure exists when a firm produces a product that has no close substitutes? a) Monopoly b) Oligopoly c) Monopolistic competition d) Pure competition e) Mixed competition

What type of competitive structure exists when just a few sellers control a large portion of the supply of a product? a) oligopoly b) monopoly c) pure competition d) mixed competition e) monopolistic competition

Which of the following best describes the acceptance of the marketing concept by American organizations? a) The marketing concept has yet to be fully accepted by all organizations. b) All organizations fully utilize the marketing concept to run their businesses. c) Nearly half of all organizations are still in the sales orientation and have not implemented the marketing concept.

Which of the following firms would be most likely to have a monopoly for its competitive environment? a) TimeWarner Cable TV b) Mitchell Trucking c) Continental Airlines d) Rogers Plumbing e) Chemlawn Lawn Care

Which one of the following statements by a company president best reflects the marketing concept? a) We have organized our business to make certain that customers get what they want. b) We believe that the marketing department must organize to sell what we produce. c) We have organized an aggressive sales force in our company to promote our products.

___________ competitors are the most significant to marketers because buyers see the different products of these firms as direct substitutes for each other. a) Brand b) Generic c) Total budget d) Product e) Oligopolistic

If a marketing researcher is interested in observing group interaction during an informal, unstructured, and open-ended data collection process, he or she should use Select one: a. a focus-group interview. b. observation. c. an on-site computer interview. d. a shopping mall intercept interview. e. a telephone survey.

a focus-group interview

In marketing research, a sample is best described as Select one: a. all the elements, units, or individuals of interest to researchers for a specific study. b. a group that shares a common attribute within a population. c. a small portion of a product offered to customers to try a new product. d. a small group that is a part of a larger group. e. a limited number of units chosen to represent the characteristics of a total population.

a limited number of units chosen to represent the characteristics of a total population

production

as the industrial revolution came to the united states, most firms operated in what orientation?

A change in the minimum drinking age in any given state illustrates a change in the ___________ for Miller Brewing. a) marketing mix b) marketing environment c) marketing concept d) marketing task e) product concept

A marketing manager for a small computer 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. a)operating situation b)marketing environment c)surroundings d)economic conditions e)trends

A marketing orientation is an organization-wide effort that includes all of the following activities except a) researching customers' needs. b) focusing on the marketing department only. c) generating marketing intelligence for use in the organization. d) being responsive to customers' ever-changing wants and needs. e) disseminating marketing intelligence across departments within the organization.

Customer relationship management focuses on using ___________ about customers to create marketing strategies. a)internal communication b)information c)purchasing power insights d)marketing mix knowledge e)implementation knowledge

Long-term relationships with profitable customers is the key objective of a) personal selling. b) customer relationship management. c) production oriented firms. d) e-marketing. e) distribution channels.

Most marketers operate in a competitive environment of either a) oligopoly or monopoly. b) oligopoly or monopolistic competition. c) oligopoly or pure competition. d) monopoly or pure competition. e) pure competition or monopolistic competition.

Rob Donaldson runs a successful wholesale business that sells equipment to restaurants throughout the Midwest. He is considering purchasing his own fleet of trucks to deliver the equipment instead of relying on a shipper as he is currently doing. This most closely represents a decision about a) which market he should target. b) the best way to distribute his products. c) how to effectively promote his business.

Technology assessment is a) measuring how much technology has been incorporated into an organization. b) trying to foresee the effects of new products and processes on the firm's operation and on society in general. c) assessing how much technology one wants to incorporate into a company in the future. d) judging how a firm's products affect society. e) weighing the cost of new technology to determine whether a firm can afford to use it.

Technology is a) the application of scientific knowledge to build products that customers desire. b) the application of knowledge and tools to solve problems and perform tasks more efficiently. c) applied sciences. d) one of the weakest marketing environment forces. e) the result of research performed primarily by universities.

The FTC can issue a cease-and-desist order, which is an injunction to a) report to the FTC immediately. b) stop doing whatever caused the complaint. c) appear before the courts. d) pay for damages caused by negligence of the firm. e) close down the firm until further notice.

The marketing concept is a management philosophy that affects a) only marketing activities. b) all efforts of the organization. c) mainly the efforts of sales personnel. d) mainly customer relations. e) only business organizations.

Today, establishing long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges is known as a) marketing synthesis. b) relationship marketing. c) a marketing orientation. d) the marketing concept. e)strategic marketing.

Which of the following would represent a brand competitor for Ford's Escape Hybrid sport utility vehicle? a) Honda Pilot b) Toyota's Highlander Hybrid c) Honda Civic Hybrid d) Taxi ride

Collecting information from secondary sources such as business, government, trade, and general-interest publications plays an important role in a) environmental analysis. b) competitive forces. c) environmental scanning. d) procompetitive legislation. e) self-regulatory forces.

Companies that market products with similar features, benefits, and prices to the same customer group are known as _________ competitors. a) generic b) product c) brand d) total budget e) monopolistic

Consumer confidence and willingness to spend begins to increase during periods of _____, and marketers must remain very flexible to make the necessary adjustments. a) recession. b) prosperity. c) recovery. d) growth. e) depression.

Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is a) risk b) time c) monetary price d) effort

Developing the internal structure of a firm's marketing unit relates to which of the following marketing management activities? a) Marketing control b) Implementation c) Organizing d) Planning e) Managing

Environmental scanning means ___________ information about the marketing environment, whereas environmental analysis is concerned with ___________ this information. a) assessing; collecting b) assessing; interpreting c) collecting; assessing d) interpreting; observing e) gathering; observing

In general, which of the following competitive structures is an organization least likely to operate? a) oligopoly b) monopoly c) pure competition d) oligopolistic competition e) monopolistic competition

In today's marketing environment, competitors can take on many forms. For example, Diet Coke can be seen as a competitor to Wrigley's Double Mint chewing gum. In this circumstance, these two products are described as ___________ competitors. a) Pure b) Generic c) Total budget d) Product e) Monopolistic

International Office Supplies Wholesaler charges different prices to its various customers without any legal justification. This company is in violation of the a) Sherman Act b) Clayton Act c) Robinson-Patman Act d) Lanham Act e) Celler-Kefauver Act

Marketing management is defined as a process of a) providing products that satisfy customers' needs through a coordinated set of activities. b) facilitating satisfying exchanges between an organization and its customers. c) planning, organizing, implementing, and controlling marketing activities.

The Pharmaceutical Research and Manufacturers of America sets guidelines for its member firms to follow regarding the use of unethical practices. Thus, it is engaging in a) legislation. b) lobbying. c) self-regulation. d) environmental scanning. e) trade restraint.

When Cisco Systems attempts to anticipate the effect of new products and processes on its own innovations, other business organizations, and society in general, the firm is engaging in a) product differentiation. b) monopolistic competition. c) technology assessment. d) distinctive promotional methods. e) innovative marketing.

Which of the following are the most frequently sentenced organizational crimes? a) False advertising and price discrimination b) Price discrimination and fraud c) Fraud and antitrust violations d) Price fixing and antitrust violations e) Fraud and price fixing

Which of the following is essentially an uncontrollable factor in developing a marketing mix? a) Product adaptations b) Pricing strategies c) Government regulations d) Advertising campaigns e) Retail locations

Which of the following is not an example of the implementation of the marketing concept? a) jimmy deans b) mars candy c) burger king d) microsoft e) saab

In its advertisements for Bud Light beer, Anheuser-Busch has decided to include a statement saying "Know when to say when." This is an example of which one of the following types of regulatory forces affecting marketing efforts? a) Federal regulation b) State regulation c) City regulation d) Self-regulation e) Social regulation

In today's market environment, you might pay $15 for a CD by your favorite musical artist. Approximately how much of that price goes to activities related to marketing (promotion, distribution, profit margins)? a)$1.70 b) $3.40 c) $5.10 d) $7.50 e)$12.75

Marketers often speak of the "controllable" variables in the practice of marketing. Which of the following is not considered one of the controlled variables? a) Product b) Price c) Distribution d) Competition e) Promotion

Marketing managers strive to develop a marketing mix that A) minimizes marketing costs. b) matches what competitors are offering. c) best matches the abilities of the firm. d) matches the needs of the target market. e) generates the highest level sales.

Of all the federal regulatory units, the ____________ most heavily influences marketing activities. a) Food and Drug Administration (FDA) b) Federal Communications Commission (FCC) c) Environmental Protection Agency (EPA) d) Federal Trade Commission (FTC) e) Federal Power Commission (FPC)

The 1990 Nutritional Labeling and Education Act directly prohibits a) exaggerated claims made by health and fitness products. b) putting the words "cholesterol-free" on any food package. c) putting nutritional information on most food products. d) exaggerated health claims on food packages. e) the use of any health claim on food packaging.

The best approach for a company to take when monitoring its competitors is a) watching for increases and decreases in competitors' prices and match them. b) analyzing all information that is readily available about competitors. c) sending employees to competitors' offices and factories to observe their actions. d) developing a system for gathering ongoing information about competitors. e) reading important business publications such as The Wall Street Journal.

The concept of "exchange" is fundamental to the definition of marketing. What is the best description of exchange? a) Activities that are performed primarily by producers and manufacturers b) Development of products, distribution channels, promotional strategies, and pricing objectives to satisfy customer requirements c) Transfer of products in return for monetary considerations d) Provision or transfer of goods, services, or ideas in return for something of value

The four major competitive structures are a) monopolies, oligopolies, oligopolistic monopolies, and pure competition. b) pure competition, heavy competition, moderate competition, and light competition. c) brand, product, total budget, and generic. d) oligopolies, monopolies, monopolistic competition, and pure competition. e) monopolies, limited competition, oligopolistic competition, and pure competition.

The marketing environment is best described as being a) composed of controllable variables. b) composed of variables independent of one another. c) an indirect influence on the performance of marketing activities. d) dynamic and changing. e) slow, with infrequent fluctuations.

The three basic forms that a product can take are a) markets, products, and images. b) goods, ideas, and intangibles. c) brands, services, and tangibles. d)services, ideas, and goods. e)ideas, services, and things.

Three primary methods of collecting information for environmental scanning are a) marketing research, company records, and advance orders. b) secondary sources, company records, and observation. c) executive knowledge, media, and marketing research. d) observation, secondary sources, and marketing research. e) company database, executive knowledge, and research.

When DataComp Corp., a producer of computer software, delayed the introduction of its new spreadsheet program to modify the package, its scheduled magazine advertisements announcing the new product needed to be revised. In this case, a change in the ___________ variable caused changes in the ___________ variable of the marketing mix. a) distribution; promotion b) distribution; product c) product; price d) product; promotion e) promotion; price

Which of the following is not a reason that marketers try to maintain good relations with elected political officials? a) Political officials can influence how much a government agency purchases and from whom. b) Political officials can play key roles in helping organizations secure foreign markets. c) Political officials well disposed toward particular firms or industries are less likely to create or enforce laws and regulations unfavorable to these firms. d) Political officials can accept direct corporate campaign contributions. e) Political officials who believe that companies in a particular industry are making honest efforts to control pollution are unlikely to create and enforce highly restrictive pollution control laws over that industry.

Which of the following scenarios involves the distribution element of the marketing mix? a) Deciding whether or not a certain product should continue to be sold b) Determining whether an advertising message would be more effective on television or in magazines c) Choosing between a company jet or the airlines for executive travel d) Deciding whether or not to have retail outlets in addition to a website e) Developing a new warranty policy for an existing product

Which of the following statements about self-regulatory programs is false? a) Self-regulatory programs are usually less expensive than governmental regulatory programs. b) Self-regulatory programs' guidelines generally are more realistic and operational. c) Nongovernmental self-regulatory programs have neither the tools nor the authority to enforce guidelines. d) Self-regulatory guidelines generally are stricter than governmental regulatory programs. e) When a trade association sets up industry guidelines, some firms that are in the industry but not in the trade association do not follow the guidelines.

Which of the following would not be a customer cost considered in determination of product value? a) Product's purchase price b) Time spent purchasing the product c) Effort spent purchasing the product d) Benefits received in the exchange for the products

Why are marketers interested in consumers' levels of disposable income? a) It accurately predicts future buying power. b) It increases current buying power. c) It is what is left after taxes and savings to buy luxuries with. d) It is a ready source of buying power. e) It is essential for forecasting future business trends.

Segmentation variables are usually grouped into four categories:

demographic, geographic, psychographic, and behavioristic.

In managing customer relationships, the three primary ways profits can be obtained are by a) acquiring new customers, enhancing the profitability of new customers, and shortening the duration of relationships with existing customers. b) enhancing the profitability of existing customers, eliminating customers who provide smaller profits, and finding new customers. c) extending the length of relationships with customers, cutting organizational costs, and enhancing the profitability of new customers. d) eliminating long-term customers who have decreased purchases, finding new customers, and increasing sales to existing customers. e) enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers.

J. Pitner Clothing is a medium-size specialty men's and women's clothing store in a market with many other specialty stores, department stores, and discounters. It has established a reputation for offering high-quality, fashionable merchandise with quality service. J. Pitner's competitive environment would best be characterized as a) oligopoly b) monopoly c) pure competition d) oligopolistic competition e) monopolistic competition

The marketing concept focuses on a) achieving the goals of top executives. b) creating maximum visibility for the firm. c) maximizing sales. d) maximizing market share. e) satisfying customers' needs in a way that helps to achieve organizational objectives.

The rapid adoption of the use of the Internet has resulted in rapid changes such as the increase of distance learning, changing social networks, and concerns such as copyright and privacy issues that the government is focusing on. These effects of technology are collectively known as a) reach. b) the self-sustaining nature. c) growth. d) technological advancement. e) dynamics.

When DuPont develops new carpet fibers that are highly stain-resistant and durable, it must educate consumers about the product's benefits. This calls for activity in which of the following marketing mix variables? a)communication. b)product. c) price. d) distribution. e) promotion.

When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its products from the competitors' products, a(n) _______ structure exists in the competitive environment. a) oligopoly b) monopoly c) pure competition d) oligopolistic competition e) monopolistic competition

MKTG test 2 ch 6, MKTG ch 3, Marketing 351 Chapter 1, Marketing, MKTG Chapter 1, MKTG Chapter 5, MKT 230 - chp. 5

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