Test packets questions

According to Maslow's Hierarchy of Needs, safety needs are the needs that people first seek to meet.

False, physiological needs, those dealing with the basic biological necessities of life, are the needs people seek to meet first

Vladimir decided not to purchase the iPod shuffle because he didn't think it would hold all of his songs. Vladimir was using his assessment of the iPod shuffle's financial risk in making his decision.

False; worried about performance risk

People who initiate, organize, operate, and assume the risk of a business venture are called A. entrepreneurs. B. leaders. C. managers. D. professionals. E. consultants.

a. entrepreneurs

the three elements of the consumer's immediate environment are the company, competition, and corporate partners.

true

The three-stage process that firms use to engage customers through social mobile media involves listening, analyzing, and implementing

true

Value is what you get for what u give

true

good marketing is not a random activity

true

what are the steps in the marketing planning process?

(1) define the business mission, (2) perform a situation analysis, (3) identify and evaluate opportunities, (4) implement marketing mix and allocate resources, and (5) evaluate performance.

Maslow's hierarchy, in order from lowest to highest

(1) physiological, (2) safety, (3) love, (4) esteem, and (5) self-actualization.

Which of the following is an example of greenwashing? A. A company markets a product made from recycled glass bottles. B. A company charges more for a hybrid car than for a similar gas model. C. A company donates money to a school reading project so it can advertise itself as environmentally friendly. D. The Smiths installed energy-saving lightbulbs in their rental apartment buildings. E. The corner Laundromat stocks only phosphate-free detergent in its vending machines.

A company donates money to a school reading project so it can advertise itself as environmentally friendly.

Jami sells construction equipment. Whenever she calls on her building contractor customers, she asks if they are having any problems. In doing so, Jami is addressing which of the following core aspects of marketing? A. satisfying customer needs and wants B. completing the exchange function of marketing C. making product, place, promotion, and price decisions D. making decisions about the setting in which marketing takes place E. creating value

A satisfying customer needs and wants

The Johnson & Johnson credo acknowledges the company's responsibility to A. users of its products, its employees, the community, and its stockholders. B. its stockholders first, its managers, its employees, and its suppliers and vendors. C. domestic markets, other countries in the developed world, and finally countries in the developing world. D. users of its products, the researchers who develop the products, regulators, and its stockholders. E. doctors, nurses, insurance companies, and users of its products.

A. users of its products, its employees, the community, and its stockholders.

Which marketing activity is most directly served by the promotion element of the marketing mix? A. communicating value B. creating value C. capturing value D. delivering value E. producing value

A. communicating value

Which statement about the changing ethnicity in the United States is true? A. Minorities now represent almost half of the population in the United States. B. In spite of increase in the Hispanic population, Hispanic buying power is expected to maintain its current level. C. Hispanics differ vastly from other groups in America in terms of consumer behavior. D. African American U.S. households are more affluent than previous studies suggested. E. Asian Americans are the slowest-growing minority population.

African American U.S. households are more affluent than previous studies suggested.

marketers might wish to sell their products to everyone, but its not practical to do so.

true

Many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. This is an example of A. C2C marketing. B. customer relationship management. C. a transactional marketing orientation. D. supply chain management. E. typical production-oriented era marketing practices.

B. customer relationship management.

Some banks have begun offering special accounts designed to attract junior high school students. These kids save in such small amounts that the accounts cost banks more to maintain than they are worth. But bankers know that consumers are creatures of habit and hope that the young people they serve now will become adult customers. These banks recognize A. that operational excellence is an important macro strategy. B. the lifetime value of customers. C. that product excellence leads to loyal customers. D. the importance of making decisions based on short-term results. E. that as long as customers bring in some revenue, costs do not matter.

B.the lifetime value of customers

Henriette offers financial counseling and management on a fee-only basis. She has found that different customers are willing to pay different rates for her services. This shows that her pricing decisions should depend primarily on A. choosing an average price that she will charge all her clients. B. changes in technology allowing consumers to manage their own affairs. C. how different customers perceive the value of her services. D. changes in the economy. E. how much her competitors charge for similar services.

C how different customers perceive the value of her services.

the group of firms that makes and delivers a given set or good and/or service s called a supply chain

true

When Toyota owners began to report problems with sticking accelerator pedals and nonfunctioning brakes, Toyota at first ignored or rejected the claims. Eventually, the company evaluated the issue and issued a recall. Which of the four steps of the ethical decision-making framework was Toyota performing when it recalled several of its 2007-2010 models? A. assess risk B. identify issues C. gather information and identify stakeholders D. brainstorm and evaluate alternatives E. choose a course of action

Choose a course of action

A meat-packing company discovers that six months ago it unknowingly distributed meat from a cloned cow. The firm is unaware of any specific risks to humans consuming the meat; however, some scientists have raised questions, and some consumers are afraid of possible future problems. The meat company has to decide whether or not to make this matter public. How should it begin the process of making an ethical decision? A. Brainstorm the available alternatives. B. Ask its managers to vote for or against public disclosure. C. Let the board of directors decide what to do. D. Identify the issues raised by the situation. E. Find out who purchased the meat, and offer them refunds in return for their silence.

D. Identify the issues raised by the situation.

If the inflation rate in Mexico was twice the rate in the United States, but the Mexican monetary authorities kept the peso-dollar exchange rate almost constant, which of the following would be true? A. The high inflation rate in Mexico would increase its citizens' purchasing power. B. The high inflation rate in Mexico would mean that its products would cost less overall. C. Mexican products would be less expensive, while U.S.-made products would become comparatively more expensive. D. Mexican products would be more expensive, while U.S.-made products would become comparatively less expensive. E. U.S.-made products would become less attractive to purchase.

D. Mexican products would be more expensive, while U.S.-made products would become comparatively less expensive.

When a company that uses social media runs a contest online, it will measure its effectiveness in a variety of ways. One such measure is the conversion rate. The conversion rate for the contest promotion would be A. the number of people who entered the contest. B. the number of people who entered the contest plus the number of people who visited the page describing the contest. C. the number of people who visited the page describing the contest. D. the percentage of visitors to the page describing the contest who entered the contest. E. the percentage of fans of the company's page who learned about the contest.

D. the percentage of visitors to the page describing the contest who entered the contest.

ABC Company knew that its customers were interested in environmentally friendly business practices, so it began marking all of its products as environmentally friendly because they were made with all-natural ingredients, even though ABC's plant was one of the worst polluters in town. The new term for this practice is A. deceptive advertising. B. greenwashing. C. environmental exploitation. D. virtual greening E. enviromarketing.

Greenwashing

There is a saying "Never go to the grocery store hungry." This saying suggests that a consumer's __________ state may adversely affect purchasing decisions. A. shopping B. social C. theoretical D. external E. temporal

Temporal: a temporary state of mind that can influence decision making.

When Hakim asked Marta where she wanted to go for lunch, she said Chili's because she went there at least once a week and always liked it. Marta conducted an internal search for information.

True

onathan prefers shirts made with 100 percent cotton, but he will sometimes buy shirts with less cotton if they are less expensive. Jonathan uses __________ to decide which shirts to buy. A. a compensatory decision rule B. a noncompensatory decision rule C. habitual decision making D. social factors E. temporal factors

a compensatory decision looks at trade-offs when evaluating

The consumer buying process begins when A. a consumer enters a store. B. consumers' functional needs are greater than their psychological needs. C. a consumer's performance risk is minimized. D. a consumer recognizes an unsatisfied need. E. learning follows perception.

a consumer recognizes its unsatisfied needs; need recogonition

Which of the following is a pricing model for apps discussed in your text? A. cost-plus B. ad-supported C. premium D. per-use E. data-driven

ad-supported

By offering environmentally responsible products, green marketers A. undercut prices of nonenvironmentally responsible marketers. B. keep costs much lower than those of competitors. C. make consumers feel guilty for buying other products. D. add value that other products do not have. E. all of these

add value that other products don't have

Apple computer users tend to like the company and love its products. Apple has nurtured this __________ component of its customers' attitudes. A. social B. affective C. psychological D. cognitive E. physiological

affective

When Brandon decided he needed a new car, he immediately called his old college roommate, who owns a BMW dealership, to ask questions about options and financing. Brandon was searching for information from

an external source

When Karen realized her dog had fleas, Karen was faced with A. a social-perceptual incongruence. B. a psychological need. C. a cognitive learning failure. D. a universal shopping need. E. an unsatisfied need.

an unsatisfied need

Marketers in the United States are paying increasing attention to ethnic groups because A. they represent a majority of the population in nonurban areas of the country. B. approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups. C. they are more susceptible to marketing messages. D. government subsidies assist marketers attempting to communicate value to these groups. E. country culture is replacing regional culture as a key marketing consideration.

approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups.

Compared to the average company, firms with strong ethical climates tend to A. employ more business development consultants. B. offer more goods and services. C. be more socially responsible. D. invest more in sales training software. E. have higher turnover.

be more socially responsible

Alex decides to make a donation to the Autism Research Institute. Which component of Alex's attitude toward autism research does this represent? A. behavioral component B. affective component C. cognitive component D. affordable component E. connected component

behavioral component

Though he has never owned a Jaguar, Jerry thinks they are poorly made and have many mechanical problems. For Jaguar to sell Jerry a car, the company would need to change the __________ component of Jerry's attitude. A. social B. affective C. functional D. cognitive E. physiological

cognitive

Elena is the CEO of a small manufacturing firm. She is concerned with meeting the investment objectives of the firm's shareholders, and sees no value in corporate social responsibility. Elena's attitude is A. insupportable in the 21st century. B. consistent with the views of other critics of corporate social responsibility. C. typical of nearly all manufacturers. D. a reaction to regulatory directives of the U.S. government. E. unethical.

consistent with the view of other critics of corporate social responsibility

During the __________ phase of the strategic marketing planning process, marketers utilize systems to check whether each potential ethical issue raised in earlier phases was addressed. A. implementation B. control C. planning D. assessment E. social responsibility

control

Every year, General Mills issues a report discussing how the firm has performed against its own standards of ethical conduct. This report is part of General Mills's __________ phase of its strategic marketing planning process. A. planning B. implementation C. control D. evolution E. marketing mix

control

One important measure of social media's effectiveness is the percentage of site visitors who take the action the site owner hoped for—making a purchase, subscribing to a service, or donating money, for example. This measure is called the site's A. conversion rate. B. extended network. C. bounce rate. D. hits. E. click paths.

conversion rate

Zappos online shoe and clothing store has a unique way of dealing with abandoned shopping carts. If a site visitor places items into the shopping cart and then leaves the site without making a purchase, several days later Zappos sends a humorous e-mail saying, "Let us show you what your shopping cart did while you were gone," along with a photo of a cute dog intended to represent the shopping cart. This attention-getting device is designed to improve the site's A. postpurchase dissonance. B. selective perception. C. conversion rate. D. reference group influence. E. position in the evoked set.

conversion rate

Zappos.com constantly reminds customers of recently viewed items and informs them when stock is low in an effort to entice the customer to make a purchase. Zappos is trying to improve its A. conversion rate. B. collection ratio. C. consumer index. D. customer total. E. culture quotient.

conversion rate

This type of thought-sharing site typically provides the highest level of control for companies. A. professional blog B. corporate blog C. personal blog D. Flickr E. Google+

corporate blog

Yellow Trucking provides transportation services for Dan's Delicious Donuts so that Dan's stores always have fresh stock. Yellow Trucking is an example of a

corporate partner

Late in the day on September 11, 2001, the day of the World Trade Center attacks, Americans purchased all the American flags Walmart stores had available, nationwide. These purchases were indicative of A. regional culture. B. generational cohort characteristics. C. country culture. D. a red/blue marketing campaign. E. the Walmart Effect.

country culture

If McDonald's wanted to change its marketing strategy in response to the social trends outlined in the text, it might consider all of the following ideas except A. offering an expanded menu of healthy options. B. making nutritional information readily available to consumers. C. using recycled paper in its food packaging. D. using solar power in its restaurants. E. creating an advertising campaign targeting elementary schoolchildren.

creating an advertising campaign targeting elementary schoolchildren.

efore going on his first business trip to China, Brad asked his Chinese American friend to advise him on customs and values common among the Chinese businesspeople he will likely encounter. Brad is trying to avoid __________ business blunders. A. reference group B. situational C. cultural D. cognitive E. evoked

cultural

It is not always necessary to go through all the steps in the marketing planning process.

true

Lifestyle refers to the way consumers spend their time and money to live.

true

Andrea and Karl got married a year ago and are ready to move out of their apartment and into a new home. After looking at several houses, they have developed a list of features that are important to them and that are different among the homes they have visited. The features on their list are called A. an evoked set. B. determinant attributes. C. short lists. D. perceived risk factors. E. trade-off elements.

determinant attributes :are product features that are important to buyers, and that buyers perceive to be different between brands.

Marketers often use principles and theories from sociology and psychology to better understand consumers' actions and to A. develop basic strategies for dealing with their behavior. B. contribute to the theoretical knowledge in those disciplines. C. avoid cultural reference group problems. D. maximize postpurchase cognitive dissonance. E. satisfy ritual consumption needs while avoiding overconsumption.

develop basic strategies for dealing with their behavior

Viewers of the World Series are likely to see ads for beer and cars, and viewers of the Academy Awards broadcast are likely to see ads for clothing and hair care products, due to A. cultural expectations. B. male domination in corporate boardrooms. C. differing demographic data for potential and past viewers. D. marketers' general perceptions. E. multiyear advertising contracts that cannot be broken.

differing demographic data for potential and past viewers

Many corporations are shifting from defined benefit to defined contribution retirement programs. When considering changes to retirement programs, the primary stakeholders are the A. shareholders. B. employees. C. customers. D. marketing managers. E. competition.

employees

The Harvest County School Board is concerned about deteriorating school facilities, combined with a shrinking budget. The board began by studying the issue, and then identified parents, children, teachers, staff, and taxpayers as groups who have a vested interest in the problem. The school board has listened to each group's concerns. In the ethical decision-making framework, its next action should be to A. identify issues of concern to lawmakers. B. assess impact of its actions beyond the classroom. C. engage in brainstorming alternatives. D. choose a course of action. E. evaluate the legal ramifications.

engage in brainstorming alternatives

Alicia has been asked to approve a marketing campaign that, although it is not illegal, promotes food products to children. She is concerned that the food products are not particularly nutritious, although they are not as bad for children as some others sold by competitors. By using the ethical decision-making metric, Alicia will A. ignore the metric as unworkable, since the campaign might pass some of the tests and fail others. B. consider the profit potential first; then explore the vague tests in the metric. C. not worry about the children; their parents are likely to make the buying decision, and they should be able to decide for themselves. D. evaluate the alternative using a series of questions. E. consult the firm's code of ethics for guidance and leave personal ethical considerations out of the decision-making process.

evaluate the alternative using a series of questions.

The Wall Street Journal provides a set of guidelines each year for purchasing a laptop computer. The guidelines include recommendations for hard disk capacity, memory size, battery life, and several other attributes. The Wall Street Journal is providing consumers with A. an evoked set. B. psychological needs. C. social concerns. D. evaluative criteria. E. biased information.

evaluation criteria

Consumers consider universal, retrieval, and evoked sets during which stage of the consumer decision process? A. need recognition B. postpurchase evaluation C. information search D. situational analysis E. evaluation of alternatives

evaluation of alternatives, 3rd steps of the consumer decision process

Elena is in the process of buying a new car. There are many possible cars to choose from, but she is focused on a few she would actually consider buying. These make up her __________ set. A. universal B. retrieval C. immediate D. evoked E. focus

evoked

When Maya decided to buy a new computer, she thought about all the brands she could recall seeing advertised, but she would consider only those brands she could buy at her local Best Buy electronics store. This represents Maya's __________ set. A. universal B. retrieval C. evoked D. deterministic E. behavioral

evoked

Thanh has to decide which college to attend. This is the most important, riskiest, and most expensive decision she has ever made. She will be engaged in A. low-involvement decision making. B. extended problem solving. C. habitual decision making. D. prepurchase dissonance. E. limited problem solving.

extended problem solving

Customers are more likely to talk about service that exceeded their expectation than about service that did not meet their expectation.

false

Ethos Water donates 2 percent of its profits to children in need of clean water. This action demonstrates that Ethos Water is a firm with a strong ethical climate.

false

Jason usually buys Nike shoes, so when his friend asked him what shoes he should buy, he said Nike without thinking about it. Jason's response was an evoked set.

false

Pepsi has cooperated with America on the Move to improve many of its products and their labels, such as reducing the saturated fat in its Frito-Lay Ruffles. This form of social responsibility most directly impacts shareholders.

false

The process of creating a strong ethical business climate begins with the frontline employees who interact directly with customers.

false

Pam didn't go see the movie Gravity because her friends all said she wouldn't be able to handle it. When she found out how good it was, she blamed her friends. Pam is demonstrating an internal locus of control.

false, External locus of control

Jordana is a travel agent. Whenever she sells an expensive vacation package, she encourages the customer to buy travel insurance, which provides reimbursement in case of trip cancellation due to illness or another emergency. Jordana is trying to reduce her customers' __________ risk.

financial

Ryan knows that one of the goals of value-based marketing is to provide greater value to consumers than competitors offer. To accomplish this goal, Ryan's firm must look at everything it does A. in order to value each person in the organization. B. for each generational cohort. C. to avoid cultural clashes. D. from a consumer's point of view. E. to sensitize organization members to ethical values.

from a consumers point of view

By producing motorcycles that do more than get riders to their destinations and back, Harley-Davidson is addressing consumers' __________ needs. A. functional and social B. postpurchase and prepurchase C. safety and situational D. psychological and physiological E. functional and psychological

functional and psychological the key to successful marketing

Short-term profit decisions can cause firms to lose customers in the long run.

true

Situational factors sometimes override psychological and social factors in the consumer decision process.

true

Which of the following is not an element of the factors affecting consumers' search processes? A. perceived benefits versus perceived costs of search B. locus of control C. actual risk D. perceived risk E. functional versus psychological need

functional versus psychological need

The first "latchkey" children belong to which generational cohort? A. Baby Boomers B. Generation W C. Generation X D. Generation Y E. Generation Z

generation X

Being socially responsible is generally considered A. a good thing to do only if a company is profitable. B. inappropriate for most firms in today's challenging markets. C. going above and beyond the norms of corporate ethical behavior. D. a necessary part of every firm's strategy. E. the responsibility of corporate-sponsored foundations that can effectively concentrate a firm's good deeds.

going above and beyond the norms of corporate ethical behavior

The process of creating a strong ethical climate within a marketing firm includes A. having a set of values that guides decision making and behavior. B. having a set of values that all stockholders can agree upon. C. having a separate set of values for management and employees. D. making sure the firm will earn a profit. E. having a different set of values for each department within the firm.

having a set of values that guides decision making and behavior

Hisaoki picks up the local newspaper and reads a stinging letter to the editor criticizing his beverage company for supporting a sporting event for children with disabilities. The letter writer is critical of a banner displayed at the event, with the logos of alcoholic beverages and Hisaoki's company name. Hisaoki never considered that this problem might arise. In the framework for ethical decision making, Hisaoki's company failed to A. identify issues. B. promote the firm's corporate social responsibility efforts. C. analyze the needs of the industry. D. brainstorm and evaluate alternatives. E. choose a course of action.

identify issues

As a retail clothing store manager, Randy frequently asks his staff what customers are saying and what they are asking for. He also attends the quarterly clothing show at the regional merchandise mart. Randy's efforts will likely help him A. avoid cognitive dissonance. B. implement just-in-time marketing promotions. C. identify potential opportunities. D. avoid the need to understand regional culture. E. achieve cost savings.

identify potential opportunities

Carla has been directed by her regional marketing manager to cut prices on seasonal items, place an ad in the local paper, and tell distributors to reduce deliveries for the next month. Which step of the strategic marketing planning process is Carla engaged in? A. evaluate performance B. define the business mission C. perform situation analysis D. implement marketing mix and resources E. identify and evaluate opportunities

implement marketing mix and resources

Anupam's company manufactures industrial ladders. He is concerned that consumers who do not understand ladder safety will purchase these extra-tall ladders and injure themselves. During which phase of the strategic marketing planning process should this issue be addressed? A. control B. planning C. implementation D. design E. ethics

implementation

Brenda was planning a small dinner party, and had gone to a new specialty food store with coupons she'd found in the food section of the paper. At the store she also found a "buy one, get one free" deal, and a gift offered with the purchase of a particular dessert. She altered the menu as a result of the __________ and ended up spending less than she'd planned. A. in-store demonstrations B. packaging C. in-store promotion D. product placement E. store atmosphere

in store promotion

Ryan believes he is responsible for his actions, and he will conduct extensive searches before making a purchase. Michael's favorite phrase, when confronted by the need to make a decision, is "Whatever." In marketing terms, Ryan is said to have a(n) __________ and Michael, a(n) __________. A. obsessive personality; laissez-faire approach B. formal search function; casual search function C. increased search anxiety; decreased search anxiety D. internal locus of control; external locus of control E. focused sense of information; unfocused sense of information

internal locus of control; external locus of control

Marketers are particularly interested in postpurchase behavior because it A. involves both compensatory and noncompensatory consumers. B. offers insights into information search methods. C. avoids situational conflicts. D. involves actual rather than potential customers. E. involves both actual and potential customers.

involves actual rather then potential customers

The greater the difference between a consumer's unsatisfied need and the desired state, the greater the need recognition will be.

true

How might Starbucks ensure that it behaves in a socially responsible way toward members of its supply chain? A. It can pay its employees minimum wage as required by law. B. It can use cups made from recycled paper. C. It can offer healthy drinks and snacks in its stores. D. It can purchase coffee beans from suppliers who pay coffee growers a fair price. E. Social responsibility isn't relevant where channel partners are concerned; it has to do with serving society as a whole.

it can purchase coffee beans from suppliers who pay coffee growers a fair price

From a firm's perspective, the biggest advantage of RFID is A. it enables the firm to track an item from the moment it was manufactured. B. it tells the firm who is buying the product and how it is being used. C. it provides demographic information on the consumer for marketing use. D. it is less expensive to use than other forms of marketing research. E. it eliminates the need for communicating with the supply chain.

it enables the firm to track an item from the moment it was manufactured

Darren has developed a better type of medication vial for travelers. He is not sure how to develop a marketing program for his product, as there are a few similar ones on the market. What technique can Darren use to analyze data from his competitor's websites, particularly to learn how people search for similar products online? A. click path data B. sentiment analysis C. social influence D. keyword analysis E. budget analysis

keyword analysis

Stuart wanted to impress Janet with the perfect engagement ring. He had been saving money for months, and he noticed his attitudes and perceptions about diamond rings changing as he began paying attention to ads for rings. Marketers call this process A. consumer confidence building. B. self-actualization. C. a decision rule. D. reducing prepurchase dissonance. E. learning.

learning

Christopher bought Timberland boots because he felt they were perfect for his outdoor activities. Patrick bought the same kind of boots because he felt they were stylish, especially with the logo clearly visible. The psychological factor driving Patrick's behavior is A. a functional need. B. lifestyle. C. his universal set. D. learned behavior. E. his evoked set.

life style

Yuri is considering a new promotional campaign in which he will compare his products to those of his competitors. Before initiating the promotional campaign, Yuri will assess his competitors' strengths, weaknesses, and A. likely reaction to his promotional activities. B. demographics. C. just-in-time processes. D. satisfaction quotient as perceived by customers. E. ethical values.

likely reaction to his promotional activities

Last semester, Henri bought his textbooks over the Internet and saved a considerable amount of money. Classes start in a few days, and he needs to decide right away how and where to purchase his books. Henri will most likely engage in a(n) __________ process. A. impulse buying B. limited problem-solving C. extended problem-solving D. ritual consumption E. affective decision

limited problem solving

The elements of the social media engagement process are

listen, analyzing, doing (implementing)

Before flying, Jaden researches the types of planes the airline uses, scans the plane for defects as it taxis up to the terminal, and follows the pilot and crew as they come through the airport. He has no experience as a pilot or airplane mechanic. Jaden probably has a misguided sense of his A. postpurchase dissonance. B. locus of control. C. reference group identification. D. attribute sets. E. social risk.

locus of control

Tomas, a bank employee, doesn't feel that his coworkers accept him. He decides to dress more casually, as they do, hoping to be accepted. Which level of Maslow's Hierarchy of Needs is Tomas trying to work on? A. esteem B. physiological C. safety D. love E. self-actualization

love

After a firm has identified the various stakeholders and their issues and gathered the available data, all parties relevant to the decision should engage in brainstorming and evaluating alternatives. __________ then review and refine these alternatives, and choose a course of action. A. Managers B. The firm's lawyers C. Key customers D. Community leaders E. All stakeholders

managers

The next broad wave of mobile applications is likely to center around "m-wallets" which will enable customers' smartphones to be used for wireless payments.

true

The Mayo Clinic in Minnesota is known for top-quality medical care. For decades, even presidents and dictators from around the world flew to the Mayo Clinic to utilize its services. The Mayo Clinic used its reputation to create additional medical facilities in Jacksonville, Florida, and elsewhere. This is an example of a firm focusing its efforts on satisfying customer needs that A. are easiest to satisfy. B. provide minimal core value. C. are important to all generational cohorts. D. competitors have tried and failed to satisfy. E. match its core competencies.

match its core competencies

When making decisions, managers often have to decide between doing what is beneficial for them (and possibly the firm) in the short run, and doing what is right and beneficial for the firm and for society in the long run. To address this conflict, a firm A. must evaluate its quarterly profit statement from an ethics standpoint. B. must state its long-term goals in general terms, so as to not interfere with managers' short-term goals. C. must always put society's needs ahead of the firm's needs. D. must ensure that long-term goals of the firm are aligned with the short-term goals of each individual within the firm. E. should adhere rigidly to legal standards in its industry.

must ensure that long-term goals of the firm are aligned with the short term goals of each individual within the firm.

Of the seven primary motivations for mobile app usage, which one do people spend the most amount of time on each month? A. need for "me time" B. need for socializing C. need for shopping D. need for accomplishing E. need for self-expression

need for "me time"

While on vacation, Martha had her camera stolen. Not wanting to waste vacation time shopping for a new camera, Martha simply purchased another camera just like her old one. For Martha, the __________ was low. A. perceived benefit versus perceived cost of search B. locus of control for this decision C. determinant attribute for this decision D. universal set of camera options E. prepurchase dissonance factor

perceived benefit vs perceived cost of search

American visitors to the Indonesian island of Bali are often aghast when they see the sign for the Swastika resort. Americans associate the swastika symbol with Nazi Germany while Indonesians associate the symbol with the four major elements on Earth. The two groups have different A. lifestyles. B. risk factors. C. perceptions. D. factual norms. E. postpurchase dissonance.

perceptions

Barak is considering buying a hybrid car, but he's not sure that he believes the gas mileage estimates. Barak is concerned about A. physiological risk. B. social risk. C. financial risk. D. safety risk. E. performance risk.

performance

Every year before he puts his boat in the water, James has his mechanic put a new battery in the boat. James is most likely concerned with __________ risk. A. psychological B. financial C. performance D. social E. physiological

performance

Kathy has naturally curly hair and has often been disappointed with the haircuts she has received. When she moved to a new town, she approached her new office mates and several strangers with curly hair and asked them where they had their hair cut. She chose to spend considerable effort finding a new hair stylist based on the __________ associated with her purchase decision. A. evoked set B. reference group C. physiological risk D. performance risk E. financial risk

performance risk

Jordan loves to read and write. She started a blog about books, including writing hints and book reviews. The readership of her blog gradually increased, and eventually publishers started sending her new books, hoping she would review them. Over time, Jordan's blog has changed from a __________ blog to a __________ blog. A. professional; network B. professional; personal C. personal; professional D. personal; social E. social; network

personal; professional

In recent years, cellular (mobile) service providers have worked hard to eliminate "dead zones," providing customers with service wherever they traveled. By working to make the network available in more locations, cellular service companies were focusing on __________ value creation. A. product B. price C. promotion D. place E. financial

place

Suppose that Nike wanted to use Facebook to increase awareness of a new line of tennis shoes. Which of the following methods would allow Nike to specifically target Facebook users who have mentioned tennis in their profiles? A. uploading a coupon to the Nike fan page B. encouraging Facebook users to "like" the Nike page so their friends will see this action C. placing a Facebook ad D. creating a Facebook tab allowing users to view the tennis clothing within Facebook E. placing a Facebook link on the Nike corporate website

placing a facebook ad

Marketers that include ethical statements in the firm's mission or vision statements are introducing ethics at which stage of the strategic marketing planning process? A. implementation phase B. control phase C. planning phase D. evaluation phase E. idea generation phase

planning phase

Many teenagers, both male and female, have clothes they purchased in the past that they "would not be caught dead in" today. When they occasionally see those clothes hanging in the back of their closet, these teenagers probably feel A. cognitive bias. B. postpurchase cognitive dissonance. C. psychological risk. D. need recognition. E. physiological risk.

postpurchase cognitive dissonance (buyer remorse)

The ethical decision-making framework includes all of the following steps except A. identify issues. B. promote the firm's corporate social responsibility efforts. C. gather information and identify stakeholders. D. brainstorm alternatives. E. choose a course of action.

promote the firms corporate social responsibility efforts

Laura has a nearly new economy car, but she wants a Ford Mustang because she thinks it would be exciting to own one. If she decides to purchase a sports car such as the Mustang, she will be primarily fulfilling a __________ need. A. functional B. postpurchase C. safety D. psychological E. functional and psychological

psychological

Generational cohorts are groups of people of the same generation who have similar __________ because they have shared experiences and are in the same stage of life. A. regional cultures B. inflationary expectations C. political affiliations D. purchase behaviors E. cultural values

purchase behaviors

Rock-Bend Company is considering buying out a competing firm and closing most of the competitor's factories. The firm has identified the various stakeholders and their issues and gathered the available data. Everyone with an interest in the issue has engaged in brainstorming and evaluating alternatives. Management reviewed and refined the alternatives, and then choose a course of action. If the managers are not confident about the decision, they should A. lower their offering price for the competing firm. B. reexamine their alternatives. C. consult customers. D. trust their instincts and move forward. E. choose the least risky option.

reexamine their alternatives

Many Hollywood movie stars were among the first to buy electric and hybrid vehicles. These stars often become __________, influencing other consumers' behavior. A. reference groups B. internal loci of control C. cultural icons D. cognitive parameters E. evoked images

reference group

In New England foot-long sandwiches are called "grinders," while in many other parts of the country they are called "subs." This is an example of the impact of A. regional culture. B. country culture. C. generational factors. D. social trends. E. regulatory factors.

regional

Political candidates are notorious for appealing to the different beliefs and values of groups of potential voters in different areas of the country. These politicians are appealing to differences in A. popular culture. B. regional culture. C. demographics. D. generational cohorts. E. country culture.

regional culture

When the floor rusted through on her old car, Kelly knew she had a problem. Logically, Kelly's next step in the consumer decision process would be to A. identify her need. B. search for information about cars. C. evaluate alternatives. D. purchase a new car. E. assess her satisfaction with the car she purchased.

search for information about cars

Suppose that Burger King wanted to evaluate social media content to find out how well its most recent advertising campaign was being received by consumers. This could be done using A. Google Analytics. B. sentiment analysis. C. click path analysis. D. keyword analysis. E. bounce rate.

sentiment analysis

"Black Friday," as the day after Thanksgiving has come to be known in the United States, is a day marked by many special deals in most retail stores, including deep-discounted products available in limited quantities, called "doorbusters," and designed to get shoppers into the store. But one danger of running out of the doorbuster deals is that a shopper may become angry or discouraged at failing to get the special item, and decide not to do any more shopping. This is an example of the impact of __________ on the consumer decision process. A. the purchase situation B. lifestyle C. setting high expectations D. perception E. learning

setting high expectations

The primary ethical dilemma facing managers is how to balance A. profits and expenses. B. employees' needs with the needs of the firm. C. shareholder interests with the needs of society. D. costs and benefits. E. ethical actions with making money.

shareholder interests with the needs of society

André was afraid his new condominium would look shabby to his future in-laws, so he had it painted just before their visit. André was addressing his __________ risk. A. social B. financial C. performance D. psychological E. physiological

social

Reginald greets his regular customers by name every morning when they come in for coffee. He offers them a taste of anything special he is cooking that day. He has a database with their birthdays, and offers them free meals on their birthdays. Reginald hopes that this attention to his "regulars" will encourage them to A. assist him in meeting his functional needs. B. always include his firm in their universal set. C. extend problem solving beyond ritual consumption. D. internalize impulse attitudes. E. spread positive word of mouth.

spread positive word of mouth.

Paula is about to open a new hardware store. She is making decisions regarding lighting, colors, and layout of merchandise. Paula knows these __________ factors will influence consumers' purchase decisions. A. interpersonal B. extended habitual C. postpurchase dissonance D. store atmosphere E. social

store atmosphere

The social trends mentioned in the text are a greater emphasis on health and wellness concerns, greener consumers, and privacy concerns.

true

When Bernie Ebbers, WorldCom's CEO, was convicted of financial crimes, WorldCom was forced to merge with MCI. One of the ramifications of this merger was the loss of WorldCom's sponsorship of the Sea Pines Heritage PGA golf tournament. The tournament funds the Heritage Foundation, a major community charity. This example illustrates A. the need to identify issues. B. that the impact of unethical actions can reach far beyond the corporation. C. that unethical firms cannot be socially responsible. D. the lack of information needed to make ethical decisions. E. the questionable advantage of social responsibility.

that the impact of unethical action can reach far beyond the corporation

The greater the discrepancy between a consumer's needy state and the desired state, the greater A. time needed to satisfy the need. B. the effort consumers will invest in searching for alternatives. C. the consumer's need recognition will be. D. the size of the universal set will be. E. the amount of external information search will be needed.

the consumers need recognition will be

Unlike other business functions like accounting or finance, people in marketing are often singled out as the root cause of ethical concerns because A. they are trained in the art of effective persuasive communication. B. they are not considered to be as quantitatively skilled as accounting and finance people. C. they interact directly with consumers. D. the problems that occurred at Enron, Tyco, and WorldCom were caused by marketers. E. doing a good job of marketing requires some degree of unethical behavior.

they interact directly with consumers

One of the goals of value-based marketing is A. to provide the greatest value for the least profit. B. to sell products for the highest possible price. C. to offer greater value than competitors offer. D. to determine the value of the brand. E. to sell to all consumers, regardless of their needs.

to offer greater value than competitors offer

A roofing company agreed to complete a job in one week and collected a 50 percent deposit, but never showed up to do the job. The same roofing company then donated $6,000 to a local children's hospital. The roofing company could be considered socially responsible.

true

Another name for physiological risk is safety risk.

true

As manager of a local donut shop, Arnie greets his regular customers by name and often begins making their order when he sees them drive into the parking lot. Arnie knows habitual purchasers with strong store loyalty are great customers.

true

Demographic profiles of customers provide an easily understood "snapshot" of the typical consumer in target markets.

true

Frazier is out of milk and bread and needs to decide what is for dinner. He will be stopping at the grocery store on the way home. Frazier will likely engage in limited problem solving.

true

Habitual decision making involves little conscious effort—these are purchases that we make regularly and by habit, without even considering alternatives.

true

When looking at ethical issues associated with the strategic marketing planning process, questions A. should be addressed only during the evaluation stage. B. should never be asked; only managers should deliberate marketing ethical issues. C. vary at each stage of the process. D. are never asked during the implementation stage. E. always follow a standard format.

vary at each stage of the process

Suppose that you are the vice president of marketing for Target, the large retail store chain. You want to keep your website and in-store services current with technological advances. You would be experimenting with what is most likely the next expected development in mobile technology, which is A. wireless payments from mobile devices. B. location-based social media applications. C. mobile devices completely replacing desktop and laptop computers. D. devices that block smartphone usage in retail stores. E. RFID tags.

wireless payments from mobile devices.

New real estate disclosure regulations require sellers and their agents to tell prospective buyers about any existing problems with the property. Previously, they were expected only to answer buyers' questions. The new regulation addressed the marketing ethical problem of A. high-pressure sales techniques. B. deceptive pricing tactics. C. misrepresentation of company data. D. misleading advertising. E. withholding information.

withholding information

Duke's is a surfer-themed restaurant chain in Hawaii. Most of its customers are tourists. In a SWOT analysis for Duke's, the possibility that the recession might cut back on tourism in Hawaii would be considered a weakness.

False

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged?

Planning

When a good or service is promoted, the purpose of the promotion is to inform, persuade, or remind customers about the good or service.

True

A marketing strategy identifies three things: ________, a related marketing mix, and the bases on which the firm plans to build a sustainable competitive advantage.

a firm's target markets

When a pharmaceutical company develops a new medication, it typically applies for a patent in order to prevent competitors from developing copycat products for several years. Pharmaceutical companies apply for patents to establish A. an operational excellence macro strategy. B. a market penetration growth strategy. C. a sustainable competitive advantage. D. an efficient supply chain. E. product efficiency.

a sustainable competitive advantage

The process of value __________, in which customers collaborate in product design, often provides additional value to the firm's customers. A. cocreation B. positioning C. delivery D. chain management E. based marketing

a. concretion

Sodexo is a corporation that manages school cafeterias, university dining halls, mess halls at military bases, concession stands at sports arenas, and other large-scale food service facilities. If Sodexo were to begin to sell individual frozen meals in supermarkets, it would be pursuing a __________ growth strategy. A. product development B. market development C. market penetration D. diversification E. product proliferation

diversification

While waiting in line to make a purchase at Best Buy, Joanie sees signs reminding her to visit the company's website for online specials and to sign up on her smartphone for the Best Buy Loyalty Rewards Program. Others signs remind her that Best Buy will match competitors' prices on any item they sell. This is an example of which 4E framework? A. engage B. energize C. excite D. experience E. educate

educate

Derek just posted an entry in his blog talking about how happy he is with his new GoPro camera. In the blog he also posted videos that he took with the camera. As a customer of the product, which facet of the 4E framework for social media is Derek most exhibiting? A. engagement B. energizing C. excitement D. experiencing E. educating

engagement

During a SWOT analysis, a company should assess the opportunities and uncertainties of the marketplace due to changes in several factors, given the acronym CDSTEP. Which of the following is not one of these factors? A. ethical B. cultural C. political D. technological E. demographic

ethical

When firms successfully implement poor strategies (perhaps due to good luck) or do a poor job of implementing good strategies, it can be difficult to A. generate cost-based performance ratios. B. evaluate performance and make adjustments. C. increase product excellence without reducing customer excellence. D. develop segmentation strategies. E. choose a business mission.

evaluate performance and make adjustments

A Groupon offer for discounted theater tickets was sent to targeted customers who had previously purchased movie or theater tickets. This best describes which of the 4E frameworks? A. engage B. energize C. excite D. experience E. educate

excite

Location-based software and applications can help bring a special offer to customers right on their smartphones when they are in the process of making a purchase decision. This best represents which aspect of the 4E framework of social media marketing? A. engage B. energize C. excite D. experience E. educate

excite

The four Ps of the marketing mix include product, promotion, planning, and place.

false

Many small businesses whose competitors are national franchises advertise "we are locally owned" or "we have been here since 1951." This is part of these firms' A. business mission. B. market segmentation strategy. C. positioning strategy. D. customer excellence strategy. E. target market.

positioning strategy

Which element of the marketing mix is most relevant to the activity "capturing value"?

price

Marketers who design and offer new products and services to their existing customers are pursuing a ____________________ growth strategy. A. product proliferation B. market development C. market penetration D. diversification E. product development

product development

marketing involves all the following except: A. conducting exchanges. B. satisfying customer needs and wants. C. creating value. D. efforts by individuals and organizations. E. production scheduling.

production scheduling

Melanie works for a small computer software company. Her boss is constantly improving the company's products but neglects customers, billing, and promoting the company. Her boss is probably stuck in the __________ era of marketing A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

production-oriented

After the previous sales representative in his territory infuriated an important customer, Benjamin visited the customer once a month, never asking for business but hoping to rebuild trust through listening and expressing concern. Finally, after more than two years, the customer gave Benjamin an order. Benjamin was providing the important marketing function of A. advising production on how much product to make. B. alerting the logistics department when to ship products. C. engaging customers and developing long-term relationships. D. identifying opportunities to expand. E. synthesizing and interpreting sales, accounting, and customer-profile data.

C. engaging customers and developing long-term relationships.

If a firm wants to develop a sustainable competitive advantage, it should A. begin an aggressive campaign to buy up competitors. B. copy the innovative features of other firms that are attractive to customers. C. examine its operations and customer relations to identify significant things competitors cannot easily copy. D. increase its marketing budget so that it outspends its competitors. E. arrange to meet with competitors to discuss how to avoid direct competition.

C. examine its operations and customer relations to identify significant things competitors cannot easily copy.

The global athletic footwear market is expected to experience only very slow growth over the next several years. Nike is the market leader. According to Boston Consulting Group portfolio analysis, how should Nike treat its athletic shoe business? A. Nike will probably have to invest heavily in the athletic shoe business, including extensive promotions and new production facilities. B. Nike should consider exiting the athletic shoe market. C. Nike should stop investing in its athletic shoe business; it has already reaped all the benefits it is likely to receive. D. Nike's athletic shoe business still requires some investment, but is likely to produce excess resources that can be invested in other divisions of the company. E. Nike should invest in the athletic shoe market only if it helps boost the sales of other products in fast-growing markets.

D. Nike's athletic shoe business still requires some investment, but is likely to produce excess resources that can be invested in other divisions of the company.

The evolution of marketing progressed along the following continuum: A. sales, marketing, value-based marketing, production. B. marketing, value-based marketing, production, sales. C. value-based marketing, production, sales, marketing. D. production, sales, marketing, value-based marketing. E. sales, value-based marketing, marketing, production.

D. production, sales, marketing, value-based marketing.

The first objective in the evaluate performance phase of the marketing planning process is to A. determine whether to raise or lower prices. B. adjust advertising allocations. C. find ways to cut costs. D. review implementation programs and results using metrics. E. consider changing the target market.

D. review implementation programs and results using metrics.

Which of the following is a core aspect of marketing? A. satisfying as many needs as possible B. creating a product that everyone will want to buy C. setting prices lower than all competitors D. making product, place, promotion, and price decisions E. increasing the company's profit

D. making product, place, promotion and price decisions,

what is the focus of a firm that develops a relational orientation with its customers? A. relating product knowledge to customer's interests B. gaining profit from each customer transaction C. generating profits quickly before customers shop elsewhere D. working with competitors to simplify product offerings for customers E. gaining lifetime profitability from customer relationships

E. gaining lifetime profitability from customer relationships

Marketing's fundamental purpose is to create value by developing a variety of offerings that will earn income for the company.

False

Over the past decade or so, marketers have begun to realize that it is best to structure a firm's customer orientation in terms of transactions rather than relationships.

False

effectively managing supply chains has a minimal effect on profitablity

False

marketing is an activity that only large firms with specialized departments can execute.

False

Jeff is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to the volume he will sell monthly. He has researched his competition, talked to some customers, and decided on prices he will charge. Jeff has also developed a plan for promoting his business. Based on this description, which element of the marketing mix does Jeff still need to work on?

Place

In 2006, Ford Motor Company announced it would severely cut back its automobile production. For parts companies supplying Ford its parts, this represented a(n) A. weakness. B. opportunity. C. strength. D. threat. E. strategic plan.

Threat

Manufacturers that use just-in-time manufacturing systems coordinate closely with suppliers to ensure that materials and supplies arrive just before they are needed in the manufacturing process. While just-in-time systems can offer major advantages in terms of inventory costs, they must be carefully managed. If a firm found that its just-in-time system was badly managed, leading to frequent manufacturing delays due to missing parts, this would represent a(n) __________ in a SWOT analysis. A. weakness B. opportunity C. threat D. strength E. metric

a weakness

Julia is considering a career in marketing. She is concerned about the image of marketers as fast-talking, high-pressure people who care only about making a sale. When reading about the core aspects of marketing, Julia is relieved to see that in marketing A. all parties to an exchange should be satisfied. B. promotion is the most important consideration, followed by pricing decisions. C. decisions are made regarding how a product is designed. D. customers are not considered until the product is ready for sale. E. distribution is controlled by customers.

a. all parties to an exchange should be satisfied

Yolanda is the new restaurant manager in a major hotel. When considering changes in the restaurant that will increase value to customers, Yolanda will likely attempt to either provide the same quality at a lower cost or A. improve products and services at the same cost. B. increase prices to increase revenue. C. offset higher hotel rates with lower restaurant prices. D. reduce customer expectations through reduced service. E. lower the quality and the price.

a. improve products and services at the same cost.

Whenever Valerie has a new massage therapy customer, she invites the person to be on her e-mail distribution list. In the process, in addition to exchanging her massage therapy service for payment, Valerie is gathering A. information. B. promotional capital. C. pricing data. D. value cocreation. E. feedback.

a. information

For many years, Southwest Airlines distinguished itself as the low-cost airline. Now, many other low-cost competitors have entered the market. Similarly, Southwest was one of the first airlines to offer online ticketing. Now, all airlines have online ticketing. These examples suggest that A. no single strategy is likely to be sufficient to build a sustainable competitive advantage. B. a situation analysis does not accurately predict a firm's strengths. C. customer excellence cannot be achieved. D. product excellence is the only true source of a sustainable competitive advantage. E. innovation is pointless because competitors will develop copycat offerings.

a. no single strategy is likely to be sufficient to build a sustainable competitive advantage

Greenbelt Construction has been a successful small home-building firm for years. The owner pays subcontractors slightly more than the usual rate for different tasks, reducing the company's gross margin. Greenbelt rarely changes subcontractors, has relatively few complaints from home buyers, and is able to get quick responses from subcontractors when buyers do have problems. Greenbelt is engaged in A. a traditional transactional orientation. B. C2C value-driven marketing. C. effective supply chain management. D. value cocreation. E. a virtual monopoly.

c. effective supply chain management.

Brian is struggling with the choice of publishing his new book, How to Cook Polish Barbeque, as an e-book or a paperback. Brian is addressing which core marketing aspect? A. developing a promotional plan B. managing the exchange function of marketing C. making product decisions D. deciding where and how to sell the product E. pricing the product

c. making product decisions

By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to A. influence social norms regarding sexuality. B. encourage consumers to participate in product redesign. C. stimulate supply chain management cooperation. D. increase the perceived value of its products. E. demonstrate social responsibility.

d. increase the perceived value of its products

Even though they operate from out-of-the-way airports and offer few extra services, discount, no-frill airlines like Ryanair and EasyJet have been successful. Consumers obviously consider A. the extra services offered by these airlines to be the most thorough in the industry. B. the long-term relationships established by these airlines to be a critical benefit. C. the prices to be slightly lower, but not low enough to have much influence. D. the benefit of lower prices to be greater than the cost of reduced services and less convenience. E. the major airlines to be worthless.

d. the benefits of lower prices to bee grater than the cost of reduced services and less convenience

Introducing newly developed products or services to a market segment the company is not currently serving is called A. product development. B. market development. C. market penetration. D. diversification. E. product proliferation.

diversification

Alan wants to upgrade his look before a job interview. A friend tells him about a men's clothing line that allows potential customers to virtually try on suits and see what looks best. It even offers an interactive "custom fit" feature. After checking out his options, Alan takes his measurements and orders a suit without ever leaving his office. Virtually trying on a suit best describes which of the 4E framework objectives? A. engage B. energize C. excite D. experience E. educate

experience

The "implement marketing mix" step of the strategic marketing planning process is part of the control phase.

false

To build a sustainable competitive advantage, companies should focus on a single strategy.

false

When designing a social media marketing campaign, the first step is to identify the target audience.

false

or all Facebook pages, the conversion rate is calculated as the percentage of visitors to the page who click the "Like" button.

false

unlike large corporations, small entrepreneurs are unable to understand and control their marketing mixes

false

When marketers use a variety of communication disciplines—advertising, personal selling, sales promotion, public relations, direct marketing, and online marketing—in combination to communicate a value proposition to the customer, it is referred to as A. integrated marketing communications. B. multimedia marketing. C. diverse marketing communications. D. comprehensive promotion. E. managed marketing communications.

integrated marketing communications

A competitive advantage based on location is often sustainable because A. mobile marketing has not yet proven its value for most customers. B. real estate prices have been dropping. C. few marketers are aware of its importance yet. D. it is not easily duplicated. E. the Internet has diminished the importance of brick-and-mortar stores.

it is not easily duplicated

Some universities offer online degree programs, competing with traditional colleges based on the convenience of taking online courses. These online programs are most likely pursuing which macro strategy? A. customer excellence B. locational excellence C. operational excellence D. product excellence

location excellence

Which of the following is least likely to provide a sustainable competitive advantage? A. lowering prices B. having a well-known brand name C. achieving high levels of customer satisfaction D. using patented technology E. creating an efficient supply chain

lowering prices

Quitman Enterprises sells its business language dictionary to college students throughout the United States. Joseph Quitman, the owner, wants to start selling the book to international students abroad. Quitman wants to pursue a __________________ growth strategy. A. product proliferation B. market development C. market penetration D. diversification E. product development

market development`

To determine how attractive a particular market is using the BCG portfolio analysis, __________ is(are) established as the vertical axis.

market growth rate

Adrienne decides to add new sales representatives and increase advertising to increase sales in her existing market for her current line of security systems. Adrienne is pursuing a __________ growth strategy. A. segment development B. market development C. market penetration D. diversification E. product development

market penetration

The process of dividing the market into groups of customers with different needs, wants, or characteristics is called A. target marketing. B. market segmentation. C. positioning. D. allocation. E. value capture.

market segmentation

Traditionally, marketing activities have been divided into product, price, place, and promotion. Select the term that best describes the four Ps. A. marketing mix B. marketing channel C. marketing plan D. marketing era E. marketing implementation

marketing mix

Marketers rely on social media to achieve three objectives. Which of the following is not one of those objectives? A. members promoting themselves to gain more friends B. sites promoting themselves to get more members C. members promoting sites to gain more friends D. outside companies promote their products to appeal to potential customers E. outside companies promote their services to appeal to potential customers

members promoting sites to gain more friends

Research indicates that positively engaged consumers tend to be A. more socially outgoing. B. more profitable consumers. C. older and wealthier than average. D. younger and poorer than average. E. more critical consumers.

more profitable consumers

Because it was able to deliver merchandise overnight, in the required quantities and at a lower delivered cost than its competitors, Joe's Sports Shack was given exclusive rights to sell clothing with school logos for the school district. Joe's demonstrates ________ excellence.

operational

Firms achieve ___________ through efficient procedures and excellent supply chain management. A. customer excellence B. locational excellence C. customer loyalty D. value-based pricing E. operational excellence

operational excellence

In a SWOT analysis, increasing gasoline prices would represent a potential __________ for manufacturers of electric cars. A. weakness B. threat C. opportunity D. operational advantage E. locational advantage

opportunity

Marketers involved in value-oriented marketing are constantly balancing A. promotional effectiveness with ethical advertising standards. B. the problem of price maximization with cost-efficiency. C. perceived customer benefits with the costs of their offerings. D. the desire to achieve with the need for a stable source of supply. E. the goal of efficiency with the price charged by competitors.

perceived customer benefits with the costs of their offerings.

Marketing channel management is related to which of the four Ps? A. product B. price C. place D. promotion E. production

place

Delta Airlines is among the companies experimenting with selling products and services on their Facebook pages. The idea is to make purchasing even easier for customers who may spend large portions of the day with Facebook active on their computers or mobile devices. There is no need even to navigate to Delta's website—users can book a trip in Delta's "Ticket Agent" application without ever leaving Facebook. Which element of the marketing mix does this represent? A. product and value creation B. price and value capture C. place and value delivery D. promotion and value communication E. positioning and value promotion

place and value communication

Coca-Cola sells two different zero-calorie versions of Coke: Diet Coke and Coke Zero. It has chosen to attempt to appeal to men with Coke Zero. In addition to launching an ad campaign featuring men enjoying Coke Zero, Coca-Cola also designed a masculine-looking can for Coke Zero, with bold red lettering on a black background. This specially designed can is an example of A. positioning. B. targeting. C. segmentation. D. a market segment. E. market penetration.

positioning

LeBron James, Alex Rodriguez, and other athletes are paid huge sums of money by companies for celebrity endorsements. If endorsements by these athletes create a clear understanding among consumers of the companies' products in comparison to competing products, they can help with the firm's __________ strategy. A. product excellence B. targeting C. positioning D. segmentation E. customer excellence

positioning

Near the end of the model year, Move-Them-Out automobile dealership had an unusually high inventory level. The manager increased her advertising spending and gave extra incentives to its salespeople. Move-Them-Out operates as if it were in the __________ era. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

sales oriented

Which of the following is not one of the four major growth strategies marketers typically utilize? A. market penetration B. market development C. segment development D. diversification E. product development

segment development

marketing enriches society by

sponsoring charitable events

As part of her company's SWOT analysis, Valerie is assessing the company's internal environment, including A. competition. B. the economy. C. strengths and weaknesses. D. demographics. E. opportunities and threats.

strengths and weaknesses

When we say that marketing can be entrepreneurial, it means that entrepreneurs A. attempt to mimic existing products on the market. B. strive to satisfy unfilled needs. C. raise social consciousness. D. gain monopoly power. E. push new technology even if people aren't ready for it.

strive to satisfy unfilled needs

All of the following statements regarding marketing metrics are true except A. they can be used at various levels in an organization. B. they assist in comparing results among SBUs. C. they cannot be used to project the future. D. they quantify a trend, dynamic or characteristic. E. they help a firm make appropriate adjustments to its marketing plan.

they cannot be used to project the future

Bounce rate refers to the percentage of times a visitor leaves a website almost immediately.

true

Firms have come to realize that good corporate citizenship through socially responsible actions should be a priority because it will help their bottom line in the long run.

true

In value cocreation, the customer participates in the creation of a good or service, which provides additional value to the customer.

true

Margo likes her morning coffee, and she always stops at Starbucks because it is on her way to work. Margo is being influenced by the place element of the marketing mix.

true

The objectives of the 4E framework for social media are excite, educate, experience, and engage.

true

understanding a customers need and whats is fundamental to marketing success.

true

Serena studies her customer profiles, market research data, complaints, and other information, attempting to better understand what her customers want. Serena most likely operates in the __________ era of marketing. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

value based marketing