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Which of the following is a difference between the marketing concept and the selling concept?

The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products.

Which of the following is true of the growth stage of the product life cycle?

Sales start climbing quickly.

Major appliances, furniture, and clothing are typical examples of ________ products.

Shopping

Which of the following is most likely a true statement about shopping products?

Shopping products are purchased less frequently than convenience products.

Hallmark's classic "When you care enough to send the very best" slogan appeals to which need category in Maslow's hierarchy?

Social

According to the BCG matrix, products or businesses with a high market share in a high-growth market are classified as ________.

Stars

Which of the following is a personal factor that influences a consumer's buying behavior?

Status

Omni Healthcare's analgesic drug Cetaprin has a 40 percent share in the analgesics market in the country of Terrania. Its closest competitor, Febex, has a 25 percent share in the market, while four other analgesic brands split the remainder. Which statement indicates that Cetaprin is a cash cow according to the BCG matrix?

The demand for analgesic drugs in the Terrania market is expected to maintain a low-growth, high-share status

Which of the following is most likely a true statement about generational groups in the United States?

The millennials account for nearly half of all discretionary consumer spending in the United States.

Which statement about convenience products is most likely true?

They are bought by consumers frequently and with minimal comparison.

Which of the following is most likely a characteristic of the millennial generation?

They are more likely to engage with brands using mobile or social media.

Which of the following is true of perceptual positioning maps?

They are used to analyze consumer perceptions of a brand relative to competing products.

Which of the following is true of product positioning?

To simplify the buying process, consumers are likely to position products in their minds.

Devon is in the market for a new car. She is seriously considering either a Honda Civic or Toyota Corolla because they both have excellent quality and safety ratings and are comparable in price. Devon is in the ________ stage of the buyer decision process.

evaluation of alternatives

A market researcher wants to find the cause-and-effect relationship between using organic ingredients in food and the subsequent consumption by customers. He invites ten respondents to his research firm and asks them to taste two identical dishes. The dishes were prepared in a similar manner, but one has natural herbs for flavoring, and the other has artificial flavors. This is an example of ________.

experimental research

Burger Town introduced a new hamburger and released it in two different cities at two different prices. Marketers of Burger Town then analyzed the sales records of their outlets at the two cities, determined the price that resulted in better profits, and used the information to set a nationwide price for their new offering. This is an example of ________.

experimental research

In most marketing research projects, what type of research is conducted first?

exploratory

A&B's Smarter Planet campaign markets A&B as a company that provides innovative solutions that improve the world's IQ. This activity of A&B is an example of ________ marketing.

organization

A major advantage of a mail survey is that it ________.

eliminates interviewer bias

________ is the final step in the marketing research process.

Interpreting and reporting the findings

Which of the following needs in Maslow's hierarchy is generally satisfied last?

self-actualization

Which of the following is most likely true of a product in the maturity stage of the product life cycle?

A slowdown occurs in sales growth

Vertigo is an electronics company. According to the BCG matrix, which of the following products of Vertigo would most likely classify as a question mark

Blue-a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily

During the ________ stage of the product life cycle, product sales may plunge to zero, or drop to a low level where they continue for many years.

Decline

According to the BCG matrix, products or businesses with a low share of market in a high-growth industry are considered

Dogs

Which of the following is an example of an industrial product grouped under capital items?

Factory

Which of the following is an example of consumer-generated marketing?

Fun & Run, a local amusement park, promotes its services by allowing consumers to upload videos and write reviews about the park.

Which generational group is characterized as the most educated and the least materialistic?

Gen X

Which generational group consists of the kid, teen, and tween markets?

Gen Z

Which generational group is most comfortable using digital technologies?

Gen Z

Which of the following statements is most likely true about the product life cycle?

Growth is a period of rapid market acceptance and increasing profits.

Which of the following is true of the product life cycle (PLC)?

It is generally difficult to forecast the sales level at each PLC stage.

________ is the art and science of choosing target markets and building profitable relationships with them.

Marketing management

Members of which generational group are referred to as echo boomers?

Millennial

Which of the following is the first stage of the buyer decision process?

Need recognition

________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Positioning

________ data consist of information collected for the specific purpose at hand.

Primary

Eastline, a manufacturer of outdoor patio furniture, positions its products as superior in weatherproofing and durability. This is an example of ________ differentiation.

Product

In the BCG matrix, ________ refer to low-growth, high-share businesses or products.

cash cows

Business portfolio analysis is defined as the process in which management ________.

assesses the attractiveness of an SBU's market and the strength of its position in the market

Which of the following is part of the microenvironment of a company's marketing environment?

building close relationships with its extensive network of suppliers

Gershwin, a musical toy for toddlers, is in the maturity stage of the product life cycle, and Gershwin managers have decided to modify the product. What will Gershwin managers most likely do to achieve this goal?

change the packaging of the toy

For the past nine years, PepsiCo's Doritos brand has held a "Crash the Super Bowl" contest in which it invites 30-second ads from consumers and runs the best ones during the game. This is an example of ________.

consumer-generated marketing

The selling concept holds that ________.

consumers will not buy enough of a firm's products unless the firm undertakes large-scale persuasion and promotion efforts

Marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on ________.

consumers' existing wants

Laundry detergent, candy, magazines, and fast food are purchased frequently by customers. They are examples of ________ products.

convenience

The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is referred to as ________.

customer relationship management

Lilly's, a furniture retailer, sells low-end furniture and accent pieces that are targeted toward lower-income consumer groups. Lilly's most likely segments the consumer market based on ________ variables.

demographic

Brands vary in the amount of power and value they hold in the marketplace. Iconic brands like Apple, Google, and Harley-Davidson have achieved substantial brand ________.

equity

A successful niche marketing strategy relies on a firm's ________.

knowledge of customer needs

Which of the following is an example of an unsought product?

life insurance

In the BCG growth-share matrix, question marks refer to products or businesses with a ________.

low market share in a market with high growth prospects

Which of the following provides a measure of market attractiveness in the Boston Consulting Group approach?

market growth rate

Dividing a market into several sections of customers is known as ________.

market segmentation

Craft Inc.'s Krayons is a multi-color chalk material that was released in the market over a century ago. Since the release, the company has had remarkable sales and Krayons has remained unchanged. However, over the last few years, sales of Krayons have been stagnant. Competitors have begun marking prices down, and increasing their advertising and sales promotions. Craft's Krayons is most likely in the ________ stage of the product life cycle.

maturity

A ________ is purposeful, specifying what an organization wants to accomplish in the larger environment.

mission statement

Fargo Inc. is a carbonated beverage manufacturer that has many manufacturing plants around the world. It is planning to shift from using thermal power to wind power for its manufacturing plants in the Netherlands to decrease dependency on nonrenewable sources of energy. This scenario depicts Fargo's concern for its ________ environment.

natural

Annie Carson, the owner of Annie's Dairy Bar, is considering opening a second location. She evaluates several potential sites by assessing traffic patterns, neighborhood conditions, and the locations of competitors. Annie is engaging in ________.

observational research

Bill thought he had received the best deal on his riding mower. Shortly after the purchase, Bill started to notice certain disadvantages of his new riding mower as he learned more about other riding mowers available in the same price range. Bill is in which of the following stages of the buyer decision process?

postpurchase behavior

GenX, a manufacturer of sport motorcycles, is seeking a new supplier of motorcycle headlamps and brake lights. After searching trade directories, GenX invites five different suppliers to make formal presentations about how their solutions can create greater value for GenX than competing solutions. GenX is currently in the ________ stage of the business buying decision process.

proposal solicitation

The most common research instrument, whether administered in person, by phone, by e-mail, or online, is the ________.

questionnaire

A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a ________.

reference group

Which positioning strategy offers value for consumers by providing the same brands as competitors at a lower price?

same-for-less

Information collected from commercial online databases or through Internet search engines are examples of ________ data.

secondary

Companies are likely to gain ________ through speedy, convenient, or careful delivery of products.

services differentiation

Susan has been redecorating her new condo for a year. She is carefully selecting every item. Susan finds an oriental rug that matches her color scheme and décor perfectly and purchases it immediately without engaging in comparison shopping. This is an example of a(n) ________.

specialty product

According to Maslow's hierarchy of needs, which of the following is most likely an esteem need?

status

Dollar General profitably appeals to families with more modest means. The retailer's approach is most likely referred to as ________.

target marketing

Which of the following is an example of a shopping product?

television

Today, marketing must not be understood in the old sense of ________.

telling and selling

Which of the following is part of the microenvironment of a firm's marketing environment?

the suppliers who work with the company

According to the five-step model of the marketing process, the first step in marketing is ________.

understanding the marketplace and customer needs and wants

A product is in the maturity stage of the product life cycle, and the company decides to modify the marketing mix. Which of the following steps is the company most likely to take?

use aggressive sales promotions

Specialty products are consumer products and services that customers generally buy ________.

without making comparisons