BMGT350

A manufacturer of​ half-ton pickup trucks creates a positioning map for the U.S.​ half-ton pickup market. The position of each circle on the map indicates the​ brand's perceived positioning on two​ dimensions: price and orientation​ (economy versus​ performance). The size of each circle indicates the​ brand's relative market share. This is an example of a​ ________________. A. perceptual positioning map B. competitively positioned map C. target segment map D. competitive map E. psychographic map

A

What are stars in the​ growth-share matrix? A. ​High-growth, high-share businesses or products B. ​Low-growth, low-share businesses and products C. ​Low-share, high-growth businesses or products D. ​Low-growth, high-share businesses or products E. The​ growth-share matrix does not contain stars.

A

Which of the following describes the process of arranging for a market offering to occupy a​ clear, distinctive, and desirable place relative to competing products in the minds of target​ consumers? A. Positioning B. Differentiation C. Mass marketing D. Market targeting E. Market segmentation

A

Which of the following describes the type of research used to help define the research problem and suggest​ hypotheses? A. Exploratory research B. Secondary research C. Causal research D. Descriptive research E. Primary research

A

Which of the following identifies a change in the technological environment that could affect the success of a​ business? A. A company develops a new battery that lasts twice as long as its predecessor. B. A company develops a new warranty that lasts as long as its predecessor. C. A company packages its product to be twice the size of its predecessor. D. A company develops a new battery that costs twice as much as its predecessor. E. A company develops a customer support program that customers rate twice as responsive as the previous program.

A

Which of the following is NOT one of the four Ps of the marketing​ mix? A. Production B. Product C. Place D. Price E. Promotion

A

Which of the following is a personal characteristic influencing a​ consumer's buying​ behavior? A. Occupation B. Status C. Social networks D. Family E. Motivation

A

Wonders such as​ smartphones, driverless​ cars, and antibiotics can be attributed to which marketing​ environment? A. Technological B. Natural C. Political D. Social E. Cultural

A

You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In​ exchange, you receive a small payment. You are participating in​ a(n) ________. A. focus group B. ethnographic study C. experiment D. immersion group E. individual interview

A

​Chicago's Best Pizzeria has been operating on the north side of Chicago for more than 30 years. Its target market includes young urban professionals who want​ new-style organic pizzas with exotic ingredients.​ However, in recent​ years, the population in the​ pizzeria's neighborhood has been​ shifting, and now fewer young urban professionals live there. The population has grown older and wants traditional​ pizza, not pizza with exotic ingredients. Which of the following identifies the​ pizzeria's BEST response to this​ situation? A. Target a new market with a different product. B. Be proactive and convince customers that​ "exotic is​ better." C. Run an ad campaign on the health benefits of pizza. D. Cut the prices on its pizza. E. Sell a different food​ product, such as hamburgers or sushi.

A

What is the nature of demand in business​ markets? A. Demand in business markets does not fluctuate. B. Demand in business markets is derived demand. C. Demand in business markets fluctuates less than in consumer markets. D. Business market demand is independent of consumer market demand. E. Demand in business markets is elastic.

B

What is the purpose of the marketing mix as part of the overall marketing​ strategy? A. To compare some or all of the​ company's products with the products of the​ company's competitors B. To produce a response that influences a demand for the product from the customers the company is targeting C. To create an overall positive image in the​ customer's mind that is favorably associated with the company D. To streamline a​ company's research,​ marketing, production, and sales of a particular product E. To maximize the​ company's profits through successful marketing and sales of a particular product

B

What is the ultimate aim of customer relationship​ management? A. To increase share of customer B. To produce high customer equity C. To produce high customer profitability D. To maintain high customer loyalty E. To establish brand equity

B

Which of the following BEST describes research​ relationships? A. Observation is best suited for exploratory​ research, surveys for causal​ research, and experiments for descriptive research. B. Observation is best suited for exploratory​ research, surveys for descriptive​ research, and experiments for causal research. C. Observation is best suited for causal​ research, surveys for exploratory​ research, and experiments for descriptive research. D. Observation is best suited for descriptive​ research, surveys for causal​ research, and experiments for exploratory research. E. Observation is best suited for descriptive​ research, surveys for exploratory​ research, and experiments for causal research.

B

Which of the following describes the process of dividing markets into groups based on​ consumers' knowledge,​ attitudes, uses, or​ responses? A. Geographic segmentation B. Behavioral segmentation C. Psychographic segmentation D. Demographic segmentation E. Economic segmentation

B

Which of the following information must a researcher evaluate to make certain it is​ relevant, accurate, and​ impartial? A. Big data analytical information B. Secondary information C. Primary information D. Survey information E. Focus group information

B

Which of the following lists the five steps of the buyer decision process in the correct​ order? A. Need​ recognition, evaluation of​ alternatives, information​ search, purchase​ decision, and​ post-purchase behavior B. Need​ recognition, information​ search, evaluation of​ alternatives, purchase​ decision, and​ post-purchase behavior C. Need​ recognition, purchase​ decision, information​ search, evaluation of​ alternatives, and​ post-purchase behavior D. Need​ recognition, information​ search, purchase​ decision, evaluation of​ alternatives, and​ post-purchase behavior E. Purchase​ decision, need​ recognition, information​ search, evaluation of​ alternatives, and​ post-purchase behavior

B

Why is it important for a company to collect both primary and secondary data when conducting marketing​ research? A. To keep costs down B. To have a​ "full picture" of the subject of its study C. To guarantee the product being researched will be successful D. To ensure the data is usable E. To avoid complaints that the study is not reliable

B

​__________________ segments are those segments that are conceptually distinguishable and respond differently to different marketing mix elements and programs. A. Substantial B. Differentiable C. Accessible D. Measurable E. Actionable

B

​______________________ determines if a buyer is satisfied or dissatisfied with a purchase. A. The number of alternatives considered in the purchase decision B. The relationship between the​ consumer's expectations and the​ product's perceived performance C. How others feel about the purchase D. The amount of information gathered in the​ decision-making process E. Whether or not the buyer experiences cognitive dissonance

B

A purse​ company's ads feature the members of a popular housewives reality show. Product sales increase significantly among fans. From​ fans' viewpoint, the housewives reality show is a​ ______________. A. ​late-majority adopter B. family group C. reference group D. lagging adopter E. membership group

C

The act of obtaining a desired object from someone by offering something in return is known as which of the​ following? A. A sale B. A trade C. An exchange D. A barter E. An auction

C

The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the first stage in this​ process? A. Supplier selection B. Proposal solicitation C. Problem recognition D. Supplier search E. General need description

C

The group of factors that affect​ consumers' purchasing power and spending patterns is called the​ _________________. A. sociocultural environment B. demographic environment C. economic environment D. natural environment E. political environment

C

The marketing manager at Only Organic Delicatessen targets customers who are focused on​ organic, healthy food choices but who still want to dine out. The restaurant chain offers a wide variety of​ organic, low-fat, locally raised produce and foods. Only​ Organic's approach is best referred to as​ ________ segmentation. A. age and​ life-cycle B. benefit C. psychographic D. geographic E. user status

C

What is the main problem that sellers suffering from marketing myopia​ face? A. They focus more on profit than on the​ customer's benefit. B. They focus on brand image to the detriment of quality. C. They focus more on products than on the​ customer's underlying need. D. They focus on customer wants instead of demands. E. They focus more on the​ customer's experience than on the product itself.

C

When a company chooses a group of customers to​ serve, it is engaging in which of the​ following? A. Societal marketing B. Demand management C. Target marketing D. Differentiation E. Market segmentation

C

When a company starts the strategic planning process at the corporate​ level, it begins by​ _____________________________. A. formulating product innovation objectives B. defining its revenue objectives C. defining its overall purpose and mission D. setting growth strategy goals E. creating research and development plans

C

When consumers respond in a similar way to a given set of marketing​ efforts, they can be referred to as a​ _________. A. differentiation B. value chain C. market segment D. target market E. market

C

​H2Coast, an automobile​ manufacturer, produces​ fuel-efficient hybrid vehicles that are targeted toward​ high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on​ ________ variables. A. geographic B. universal C. psychographic D. demographic E. behavioral

C

What constitutes a marketing information system​ (MIS)? A. A system of competitive marketing intelligence B. A customer insights and analysis team C. An internal database that is used with big data D. A system to generate and validate actionable customer and market insights E. A customer relationship management system

D

Which of the following includes shortages of certain raw​ materials, higher pollution​ levels, and more government​ intervention? A. The political environment B. The sociocultural environment C. The economic environment D. The natural environment E. The technological environment

D

Which of the following is NOT a social factor influencing consumer buying​ behavior? A. Reference groups B. Online social networks C. Opinion leaders D. Cognitive dissonance E. Word of mouth

D

Which of the following is NOT a step in the marketing research​ process? A. Interpreting and reporting the findings B. Implementing the research plan C. Developing the research plan D. Comparing research findings to other studies E. Defining the research problem

D

Which of the following is the primary reason firms use competitive marketing​ intelligence? A. To assess and respond to a​ competitor's social media strategies B. To gain an understanding of a​ competitor's channels of distribution C. To understand more about a​ competitor's new product development efforts D. To gain early insights into competitor moves and​ strategies, and to prepare quick responses E. To make early decisions regarding pricing strategies of competitors

D

Which of the following scenarios BEST describes the societal marketing​ concept? A. ​Tim's Tires constantly tries to improve on the tires it sells by placing all of its efforts into new design research. B. ​Robert's Rotors does everything to improve production and lower the cost of its rotors in order to gain customers. C. ​Wanda's Wedding Wear frequently promotes itself to customers through​ commercials, fliers, and other forms of advertising. D. ​Edward's Earthware attempts to make its pottery in a way that satisfies customers but is also environmentally friendly and sustainable over the long term. E. ​Amy's Apple Cart regularly asks its customers what kind of apples they want to buy.

D

​Heeltoe, a boutique that caters to the footwear needs of​ women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of​ affluent, middle-aged​ women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on​ ________ variables. A. behavioral B. geographic C. psychographic D. demographic E. universal

D

​Julie's Jump Rope Emporium is a new company. From a marketing​ standpoint, what is the FIRST thing​ Julie's Jump Rope Emporium needs to​ do? A. Advertise the company as a location in which to purchase jump ropes B. Develop a plan to sell as many jump ropes as possible C. Develop relationships with the customers who come to purchase jump ropes D. Determine who in the community wants or needs a jump rope E. Develop the best jump rope possible

D

​____________________ is a characteristic important in influencing an​ innovation's rate of adoption and described by the degree to which the innovation may be tried on a limited basis. A. Relative advantage B. Motivation C. Communicability D. Divisibility E. Complexity

D

Dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies is known as​ ______________________. A. mass marketing B. market targeting C. positioning D. differentiation E. market segmenting

E

How does the microenvironment of a company differ from its​ macroenvironment? A. The microenvironment affects a larger portion of the company than the macroenvironment. B. The microenvironment is​ company-based, whereas the macroenvironment is​ customer-based. C. The microenvironment deals with the big​ problems, whereas the macroenvironment deals with trivial problems. D. The microenvironment uses more financial resources than the macroenvironment. E. The microenvironment deals with the​ company, suppliers, marketing​ intermediaries, customer​ markets, competitors, and publics.

E

How has the internet MOST affected companies and​ customers? A. The internet has lowered prices. B. The internet has made advertising easier. C. The internet has made creating an image more important. D. The internet has increased the potential customer base. E. The internet has allowed consumers to take marketing content and share it.

E

Marketers obtain needed marketing information from which of the​ following? A. Internal​ data, marketing​ research, and marketing managers B. Marketing​ managers, information​ users, and internal databases C. Internal​ data, big​ data, and market research D. Marketing​ intelligence, marketing​ research, and the marketing environment E. Internal​ data, marketing​ intelligence, and marketing research

E

When Subaru of America allows Outback buyers to customize cars to meet their exact needs and​ preferences, it is practicing which type of​ marketing? A. Segmented marketing B. Concentrated marketing C. Differentiated marketing D. Undifferentiated marketing E. Micromarketing

E

Which of the following actions helps a company find the game plan for​ long-run survival and growth that makes the most sense given its specific​ situation, opportunities,​ objectives, and​ resources? A. Financial and revenue planning B. Research and development planning C. Individual departmental planning D. Marketing planning E. Strategic planning

E

Which of the following is NOT part of an overall SWOT analysis evaluation of a​ company? A. Opportunities B. Weakness C. Strengths D. Threats E. Strategy

E

Which of the following is at the center of marketing strategy and​ programs? A. Value chains of both customers and suppliers B. Customer and supplier relationship management C. Product and supply chain management D. Customer relationship engagement and value chains E. Customer​ engagement, value, and relationships

E

Which of the following is likely to slow the adoption of a new​ technology? A. Compatibility B. Communicability C. Divisibility D. Relative advantage E. Conceptual complexity

E

Which of the following provides a measure of market attractiveness in the Boston Consulting Group​ approach? A. brand image B. relative market share C. market sentiment D. return on marketing investment E. market growth rate

E

​Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six​ years, sales have continuously declined and profits have almost completely disappeared. The owner of​ Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to​ Tina's Tunes? A. ​Tina's Tunes is likely to fail because it is ignoring the natural environment. B. ​Tina's Tunes will experience a rebound as the fear of the Great Recession declines. C. ​Tina's Tunes is likely to fail because it is ignoring the current political environment. D. ​Tina's tunes are likely to prosper as mistrust in the digital age increases. E. ​Tina's Tunes is likely to fail because it is ignoring the technological environment.

E

The real value of marketing information rests in the​ _____________________. A. marketing intelligence it uncovers B. customer insights it provides C. support of a​ company's marketing research D. social media data it uses E. amount of big data it analyzes

B

A wedding services company changes its marketing strategy to reflect the fact that more LGBTQ​ (lesbian/gay/bisexual/transgender/queer) marriages are taking place. The company is offering a broader range of ceremonies that cater to this market. Which of the following environments must this wedding company​ analyze? A. Natural B. Cultural C. Economic D. Technological E. Political

B

How do market demands relate to needs and​ wants? A. Wants and demands are​ equivalent, and both satisfy needs at the same rate. B. Needs are satisfied by​ wants, and buying power converts wants into demand. C. Demands result in customers needing and wanting a particular product. D. ​Needs, wants, and demands all describe the same state in the customer. E. Needs and wants outweigh demands in the​ customer's mind.

B

To exercise social​ responsibility, many companies are linking themselves to what type of​ marketing? A. Technological B. Intermediaries C. Generational D. ​Cause-related E. Environmental

D

The goal of a market development growth strategy is to do which of the​ following? A. Buy businesses beyond its current products and markets B. Make more sales to current customers without changing its original products C. Offer modified or new products to current markets D. Identify and develop new markets for current products of a​ company's market E. Create businesses beyond its current products and markets

D

Amazon is now promising​ same-day pick-up of goods as well as local secure​ pick-up points. What point of differentiation is​ this? A. Image differentiation B. People differentiation C. Channel differentiation D. Services differentiation E. Product differentiation

D

Ethel and Jan have just started a new​ company, Jantel,​ Inc., and are having trouble deciding which marketing path to take to drive sales. Ethel believes they should follow a​ make-and-sell philosophy that focuses on improving their​ product, whereas Jan believes they should be more​ customer-oriented and find the right products for their customers. Which of the following BEST describes this​ situation? A. Should​ Jantel, Inc., follow a marketing concept or a societal marketing​ concept? B. Should​ Jantel, Inc., follow a production or selling​ concept? C. Should​ Jantel, Inc., follow a societal marketing or production​ concept? D. Should​ Jantel, Inc., follow a product or marketing​ concept? E. Should​ Jantel, Inc., follow a product or selling​ concept?

D

The​ demographic, economic,​ natural, technological,​ political, and cultural forces that affect a​ company's ability to serve its customers make up which of the​ following? A. Cultural environment B. Technological environment C. Microenvironment D. Macroenvironment E. Marketing environment

D

A new hardware company is writing its mission statement. Which of the following is the BEST mission statement possible for the new​ company? A. We will be the best hardware company in the world. No other company will ever outsell us. B. We embrace the deeper meaning of home and commercial improvements. C. We are providers of​ hardware, lumber-based, and appliance products to be used for home improvement and commercial construction projects. D. We will have​ $2 million in profit by the end of our second fiscal year and twice that amount by the end of year five. E. We will help customers​ build, invigorate,​ restore, refurbish, or completely redesign their homes or businesses.

E

According to the model of buyer​ behavior, what is in a​ buyer's "black​ box"? A. The​ buyer's purchase and​ post-purchase behavior B. The​ buyer's wants,​ needs, and preferences C. The​ buyer's economic and social preferences D. The​ buyer's attitudes and preferences E. The​ buyer's characteristics and decision process

E