Bus 3150 Exam 1 Review
UPS, FedEx, DHL, and other shipping companies support other firms' __________ marketing goals. A) supply chain management B) value communication C) value capture D) retail management
A) supply chain management
Darrell sells custom cabinets for upscale residential homes. Darrell hopes that satisfied customers will create word of mouth referrals for him. To make it more likely that his customers are satisfied, Darrell could do any of the following EXCEPT A) tell customers that he has the best quality cabinets available anywhere in the country. B) carefully demonstrate how to maintain the finish on his cabinets. C) provide a satisfaction guarantee policy. D) visit customers after they have moved into their homes.
A) tell customers that he has the best quality cabinets available anywhere in the country.
Though Asian Americans comprise only 3 percent of the U.S. population, they represent A) the fastest growing minority population. B) the easiest minority group to access. C) a large proportion of the minorities in the Midwest. D) a uniform group of consumers with a common language and cultural background.
A) the fastest growing minority population.
Marketers should not assume that they can target all Asian consumers in the United States with one strategy because A) they speak different languages and come from different cultures. B) Asians do not respond to marketing efforts. C) there are not enough Asians in the United States to effectively target. D) each major city tends to have only one group of Asians in large numbers.
A) they speak different languages and come from different cultures.
Marketers often use principles and theories from sociology and psychology to better understand consumers' actions and A) to develop basic strategies for dealing with their behavior. B) to contribute to the theoretical knowledge in those disciplines. C) to avoid cultural reference group problems. D) to maximize postpurchase cognitive dissonance. E) to satisfy ritual consumption needs while avoiding overconsumption.
A) to develop basic strategies for dealing with their behavior.
Marketers selling to the __________ generational cohort need to recognize that these consumers are not too interested in shopping, are cynical, and are less likely to believe advertising claims than the generation(s) before them. A) Baby Boomers B) Generation W C) Generation X D) Generation Y E) Generation Z
C) Generation X
The __________ generational cohort is characterized by the question, "Why shop at Neiman Marcus when Kohl's and Target are just as good, cheaper, and more convenient?" A) Baby Boomers B) Generation W C) Generation X D) Generation Y E) Generation Z
C) Generation X
Budweiser is well known for using humor in its ads for Bud Light beer. Which of the various factors affecting the consumer decision process are humorous ads like the Bud Light ads most likely to be attempting to influence? A) Motives B) Attitudes C) Lifestyle D) Perceptions
C) Lifestyle
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
C) Making product decisions
Marketers are more likely to find higher concentrations of foreign-born Americans and recent immigrants in A) Duluth, Montpelier, and Augusta. B) smaller states. C) New York, Los Angeles, and Chicago. D) coastal resort areas.
C) New York, Los Angeles, and Chicago.
__________ refer(s) to the process by which consumers select, organize, and interpret information. A) Attitude B) Learning C) Perception D) Cultural norms
C) Perception
Astute marketers recognize that the increasing disparity of income between upper- and lower-income groups A) will create inflationary expectations. B) will disappear as ethnicity becomes a stronger cultural determinant. C) creates opportunities to provide value to each group. D) will vanish once the recession ends.
C) creates opportunities to provide value to each group.
Viewers of the baseball World Series are likely to see ads for beer and cars, and viewers of the Academy Awards broadcast (the "Oscars") are likely to see ads for clothing and hair care products, due to A) cultural expectations. B) male domination in corporate boardrooms. C) demographic data indicating that Monday Night Football attracts male viewers and the Academy Awards attracts female viewers. D) marketers' perceptions that women don't like beer and men don't care about their hair.
C) demographic data indicating that Monday Night Football attracts male viewers and the Academy Awards attracts female viewers.
When marketers look at advertising media they often begin with viewer or listener profiles such as age, income, gender, and race. They then compare the media profile with their target audience. These marketers are using __________ to see if the media "fit" with their advertising agenda. A) country culture B) regional culture C) demographics D) macromarketing measures
C) demographics
Auction sites like eBay have increased opportunities for __________ marketing. A) B2B B) C2C C) D2C D) C2D
B) C2C
__________ is communication by a marketer that informs, persuades, or reminds potential customers about a product. A) Pricing B) Promotion C) Placement D) A relational orientation
B) Promotion
Apple computer users tend to like the company and love its products. Apple has nurtured this __________ component of their customers' attitudes. A) social B) affective C) psychological D) cognitive
B) affective
(CH. 5)Marketers in the United States are paying increasing attention to ethnic groups because A) they represent a majority of the population in non-urban 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.
B) approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups.
Marketers in the United States are paying increasing attention to ethnic groups because A) they represent a majority of the population in non-urban 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.
B) approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups.
Value-driven firms constantly measure the __________ that customers perceive, compared to the prices of their offerings. A) information B) benefits C) relationships D) rebates
B) benefits
Sometimes consumers have second thoughts after buying goods that are expensive, infrequently purchased, or associated with a high level of risk. This is an especially critical time for marketers, as their customers are dealing with A) criteria reevaluation. B) buyer's remorse. C) competitive leverage. D) purchase uncertainty.
B) buyer's remorse.
The basic difference between a good and a service is that a good A) provides intangible benefits. B) can be physically touched. C) is always less expensive than a corresponding service. D) generates greater interest among consumers.
B) can be physically touched.
Firms that provide materials, transportation, advertising, accounting, and other goods and services, helping a firm create value for its customers, are called A) cultural cohorts. B) corporate partners. C) cartels. D) cooperatives. E) customers.
B) corporate partners.
The firms that work along with the focal firm to provide goods and services to consumers are viewed as A) cultural cohorts. B) corporate partners. C) cartels. D) cooperatives. E) customers.
B) corporate partners.
The shared meanings, beliefs, morals, values, and customs of a group of people constitute their A) social concerns. B) culture. C) demographics. D) generational cohorts.
B) culture.
Setting unrealistically high consumer expectation often leads to A) ritual reversion. B) customer dissatisfaction. C) postpurchase harmony. D) financial risk.
B) customer dissatisfaction.
Franco uses a database software system to remind him when his customers should be ready to reorder his industrial cleaning products. With this reminder system, Franco contacts his customers when they are most likely to be "in the buying mode." Franco's system is part of A) C2C marketing. B) customer relationship management. C) a transactional marketing orientation. D) supply chain management.
B) customer relationship management.
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.
B) customer relationship management.
Once consumers have recognized a need, they begin to search for ways to satisfy that need. The internal search is characterized by A) looking through the internal records of a firm, often found on the company website. B) examining personal memories and knowledge. C) using the Internet to find what other consumers feel about a specific product or service. D) consulting close friends and families before expanding the search to a wider, external group.
B) examining personal memories and knowledge.
Strategic efforts to supply consumers with environmentally friendly merchandise are called A) the uncommon truth. B) green marketing. C) the green generation. D) the inconvenient truth.
B) green marketing.
ABC Company knew that its customers were interested in environmentally friendly business practices, so it began marking all of their 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
B) greenwashing.
As director of a small art gallery, one of Frederica's major concerns is the preferences of the people who buy her artists' work. Frederica recognizes that the center of her marketing efforts is A) profits. B) her target customers. C) artistic social responsibility. D) competing art galleries.
B) her target customers.
Recently, Jason, one of the few Americans who has not registered with the Do Not Call Registry, received a call from a marketer suggesting Jason needed additional insurance since he had just become a father and changed jobs. Jason was shocked and very concerned about A) his financial situation. B) his lack of privacy. C) the marketer's lack of cultural awareness. D) his telephone bill.
B) his lack of privacy.
When considering income as a demographic variable affecting marketing efforts, marketers need to recognize that A) everyone is equal. B) income in the United States has become more unevenly distributed. C) everyone has been equally affected by the recession. D) there is increasing purchasing power among lower income groups.
B) income in the United States has become more unevenly distributed.
Because Americans are working longer hours without increases in real, disposable income, and are utilizing an army of communication devices to keep up with the demands in their personal and work lives, retailers are A) increasing their budgets for traditional advertising outlets like television and radio. B) making their products available whenever and wherever consumers want them. C) outsourcing marketing communications to global production facilities. D) focusing only on those demographic cohorts that have time to relax.
B) making their products available whenever and wherever consumers want them.
The shift of population from the "Rust Belt" in the North to the "Sun Belt" in the South and Southwest will likely A) decrease national cultural identity. B) reduce regional cultural differences. C) make it difficult to collect demographic information. D) create a demand for a new generational cohort. E) all of these
B) reduce regional cultural differences.
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.
B) regional culture.
Many entrepreneurs are successful through marketing efforts designed to A) mimic existing products on the market. B) satisfy unfilled needs. C) raise social consciousness. D) gain monopoly power.
B) satisfy unfilled needs.
Marketers know that, compared to high school graduates who are working full time, college students A) will earn less over their working lifetime. B) spend their disposable income differently. C) are less likely to buy textbooks. D) have almost identical spending patterns.
B) spend their disposable income differently.
Marketers know that, compared to high school graduates who are working full time, college students A) will earn less over their working lifetime. B) spend their disposable income differently. C) are less likely to buy textbooks. D) have almost identical spending patterns. E) are more likely to drink beer and less likely to drink wine.
B) spend their disposable income differently.
The marketing goal of getting the "right quantities to the right locations, at the right time" is: A) communicating the value proposition. B) supply chain management. C) creating value. D) capturing value.
B) supply chain management.
Marketing provides the critical function of __________ when companies expand globally. A) managing production efficiency B) understanding customers C) managing personnel D) forecasting economic growth
B) understanding customers
Julie is an experienced shopper. She has been doing the family's weekly shopping since she was twelve. She is not very interested in status items, and questions advertising claims. Julie is most likely to be in the __________ generational cohort. A) Baby Boomers B) Generation W C) Generation X D) Generation Y E) Generation Z
C) Generation X
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.
C) engaging customers and developing long-term relationships.
Gender roles A) are a constant cultural norm. B) require firms to produce gender neutral advertising for 100 percent of their products. C) have been blurred in the past several years. D) are important, and gender boundaries should never be crossed.
C) have been blurred in the past several years.
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.
C) how different customers perceive the value of her services.
The "Got Milk" advertising campaign, designed to increase consumption of milk, was intended to help market a(n) A) individual. B) firm. C) industry. D) organization.
C) industry.
One of the benefits of value-driven marketing is that attention to customer needs and wants will likely result in A) higher prices than the market leader charges. B) increased competition. C) long-term relationships. D) strong connections among competing firms in the marketplace.
C) long-term relationships.
Compared to consumers in the United States, Europeans are A) less ethnically diverse. B) a considerably older population. C) more green-consumer conscious. D) less sensitive to environmental concerns.
C) more green-consumer conscious.
Effective promotion enhances a product or service's A) supply chain management system. B) wholesaling capabilities. C) perceived value. D) design features.
C) perceived value.
Every year, before he puts his boat in the water, James has his mechanic put a new battery in the boat. James is probably concerned with __________ risk. A) psychological B) financial C) performance D) social
C) performance
Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following EXCEPT A) product. B) place. C) performance. D) promotion. E) price.
C) performance.
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.
C) the consumer's need recognition will be.
Marketers involved in supply chain management are constantly balancing A) the goal of promotional effectiveness against ethical advertising standards. B) the problem of price maximization against cost efficiency. C) the goal of minimizing costs against satisfying the service levels customers expect. D) the desire to achieve against the need for a stable source of supply.
C) the goal of minimizing costs against satisfying the service levels customers expect.
Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students. These bulletin boards increase __________ marketing. A) B2C B) C2B C) B2B D) C2C
D) C2C
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
D) Making product, place, promotion, and price decisions
By offering environmentally responsible products, green marketers A) undercut prices of non-environmentally 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.
D) add value that other products do not have.
By offering environmentally responsible products, green marketers A) undercut prices of non-environmentally 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
D) add value that other products do not have.
The factors in the immediate marketing environment include the actions of the A) company. B) company's competitors. C) company's corporate partners. D) all of these E) none of these
D) all of these
When evaluating competitors, marketers need to assess competitors' A) strengths. B) weaknesses. C) likely reaction to marketer's activities. D) all of these E) none of these
D) all of these
To become a more value-driven organization, Pokrah University is holding regular coffee-hour discussions with its students and is surveying its graduates regarding students' educational needs and desires. Pokrah University is becoming more value driven through A) sharing information across the organization. B) balancing its customers' benefits and costs. C) evaluating strategic competitive partnerships. D) building relationships with customers.
D) building relationships with customers.
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
D) cognitive
The four Ps make up the marketing mix, which is the __________ set of activities that the firm uses to respond to the wants and needs of its target markets. A) unpredictable B) external C) internal D) controllable E) global
D) controllable
Where Caroline grew up, everyone knew everyone else, no one locked the doors on their house, and a person's word could be trusted. When she went to work in another part of the country, she was surprised by how few people had similar values and beliefs. Caroline had to adjust to __________ differences. A) reference group B) situational C) cognitive D) cultural
D) cultural
Four Winds Art Gallery recently began offering appraisals of customers' art collections, in addition to continuing to sell paintings. Four Winds is A) expanding from offering just services to also offering goods. B) implementing a market segmentation strategy. C) capturing value through multiple pricing strategies. D) expanding from offering just goods to also offering services.
D) expanding from offering just goods to also offering services.
(CH. 1)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 their products.
D) increase the perceived value of their products.
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) it involves both actual and potential customers.
D) involves actual rather than potential customers.
The importance of supply chain management is often overlooked in the study of marketing because A) marketing has no responsibility for supply chain management. B) supply chain management doesn't add much value for customers. C) companies do not want customers to know anything about the supply chain. D) many of the activities take place behind the scenes.
D) many of the activities take place behind the scenes.
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 __________ needs. A) functional B) postpurchase C) safety D) psychological
D) 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 behavior
D) purchase behavior
Even though they operate from out-of-the-way airports and offer few extra services, discount airlines like Ryanair and EasyJet have been successful. Consumers obviously consider A) the schedules these airlines offer to be the most convenient 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.
D) the benefit of lower prices to be greater than the cost of reduced services and less convenience.
Since the late 1970s, most American families have seen their income growth stagnate, with income rising only slightly more than inflation. This has changed many Americans consumers' concept of A) culture. B) demographics. C) scenario planning. D) value.
D) value.
Marketers have learned that culture influences __________ consumers buy. A) what B) how C) where D) when E) all of these
E) all of these
Identifiable elements of a country's culture include A) dress. B) symbols. C) ceremonies. D) language differences. E) all of these.
E) all of these.
The centerpiece of the Marketing Environment Analysis Framework is A) green marketing. B) corporate partners. C) culture. D) competitive intelligence. E) consumers.
E) consumers.
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) speeding up drive-through service. C) using recycled paper in its food packaging. D) expanding its low-cost menu options. E) creating an advertising campaign to target elementary school children.
E) creating an advertising campaign to target elementary school children.
Insight Guides, a line of travel books, provides travelers with background information about the people's beliefs, values, and customs. Insight's books educate travelers about a country's A) social concerns. B) political parties. C) demographics. D) generational cohorts. E) culture.
E) culture.
Successful firms focus their 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 their core competencies.
E) match their core competencies.
(CH. 6) Maslow's Hierarchy of Needs includes physiological needs at the lowest level and self-actualization at the top. The three levels in between are A) material goods, safety, and love. B) community, family, and self. C) safety, stability, and striving. D) health, wealth, and happiness. E) safety, love, and esteem.
E) safety, love, and esteem.
The traditional marketing strategy of selling umbrellas when it is raining is an example of how __________ factors influence consumers' decisions. A) situational B) psychological C) shopping D) interpersonal E) economic
A) situational
Christy, who was born in 1955, advocated for "casual Friday" at her workplace. Christy is a member of which generational cohort? A) Baby Boomer B) Gen X C) Gen Y D) Gen Z
A) Baby Boomer
From a marketing perspective, what separates __________ from the generation before them is that they are individualistic, value leisure time as a high priority, and are trying to maintain their youth. A) Baby Boomers B) Generation W C) Generation X D) Generation Y E) Generation Z
A) Baby Boomers
Which of these is a macroenvironmental factor? A) Culture B) Corporate partners C) Competition D) Company E) All of these are macroenvironmental factors.
A) Culture
Kimberly-Clark recently introduced rolls of toilet paper without the cardboard core. What social trend does this product respond to? A) Green marketing B) Time-poor society C) Cultural diversity D) Technological advances E) Regulatory issues
A) Green marketing
When a tee shirt manufacturer states, "We only sell it in black because that way we can buy plenty of black fabric and run our plant efficiently," their statement reflects the views that were popular in which era of the evolution of marketing? A) Production-oriented B) Sales-oriented C) Market-oriented D) Value-based marketing
A) Production-oriented
A home security company will advertise the need for home surveillance products to appeal to which level of Maslow's Hierarchy of Needs? A) Safety B) Love C) Esteem D) Self-actualization
A) Safety
When an office supply store offers self-check-out, extended hours at its stores, and online shopping with next day delivery, it is trying to address what type of concern? A) Time-poor society B) Greener consumption C) Health and wellness D) Privacy concerns
A) Time-poor society
Jonathan prefers shirts made with a 50-50 cotton blend, 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
A) a compensatory decision rule
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 A) an external source. B) an internal locus of control. C) a decision rule. D) an internal source.
A) an external source.
When studying culture, the challenge for marketers is to determine whether culture A) can help to identify a particular group that might be interested in the marketer's products. B) is regional or subregional. C) reinforces stereotypes. D) is related to educational achievement.
A) can help to identify a particular group that might be interested in the marketer's products.
A firm's macroenvironment includes all of the following EXCEPT A) competition. B) culture. C) demographics. D) economics. E) political/legal issues.
A) competition.
The difference between a firm's immediate marketing environment and its macroenvironment is that the macroenvironment is A) external. B) easier to understand. C) easier to control. D) the same as the immediate environment.
A) external.
When mountain climbers purchase clothing for scaling Mount Everest, their purchases are primarily addressing __________ needs. A) functional B) prepurchase C) social D) psychological
A) functional
The many demands on consumers today have made it more difficult for marketers to A) grab consumers' attention. B) decide what to offer. C) deliver products just-in-time. D) differentiate between the needs of seniors and Baby Boomers.
A) grab consumers' attention.
Marketers must determine the price of a product carefully, based on potential buyers' beliefs about A) its value. B) the environment. C) the cost to manufacture the product. D) the economic outlook.
A) its value.
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 likely assess his competitors' strengths, weaknesses, and A) likely reaction to Yuri's promotional activities. B) demographics. C) just-in-time processes. D) satisfaction quotient as perceived by customers. E) ethical values.
A) likely reaction to Yuri's promotional activities.
Retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts. Retailers function as A) market intermediaries. B) monopolists. C) regulators of consumer demand. D) wholesale specialists.
A) market intermediaries.
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.
A) regional culture.
Marketers frequently design customer relationship management programs to A) retain loyal customers. B) attract consumers who have safety needs. C) reinforce postpurchase cognitive dissonance. D) increase internal information search.
A) retain loyal customers.
In the past, manufacturer's representatives did not have up-to-minute data about the products they were selling. Today, manufacturer's representatives are often provided online access to inventory data for the companies they represent. These online inventory systems allow companies to become more value-driven through A) sharing information across the organization. B) balancing customers' benefits and costs. C) evaluating strategic competitive partnerships. D) building relationships with government regulators of marketing institutions.
A) sharing information across the organization.