BUS 360 Chapter 1-4

When Best Buy provides a loyal customer with a relevant coupon on their mobile phone, based on previous purchases, while the customer is in the store, this is an example of which element of the 4E framework? A. educating the customer B. relevancy and exciting the customer C. experiencing the product or service D. engaging the customer E. demonstrating effort to the customer

relevancy and exciting the customer

Which viewpoint is most desirable? A. Firms that engage in ethical practices are always socially responsible B. Corporate leaders should exemplify ethical behavior through an ethically-based corporate culture C. Socially responsible firms automatically engage in ethical practices D. Firms consider ethics and social responsibility to be unrelated concepts E. Firms are not socially responsible because consumers will not pay more for it

Corporate leaders should exemplify ethical behavior through an ethically-based corporate culture

Samsung's Galaxy S10 smartphone is an example of which type of marketing offering? A. innovation B. goods C. services D. ideas E. promotions

goods

A service is different from a good in that the benefit is A. easy to market B. valuable C. tangible D. intangible E. less expensive

intangible

Of all the stakeholders, a company's most basic responsibility is to A. its customers B. its employees C. the marketplace D. society E. the environment

its employees

Firms that act responsibly by looking for safer and more environmentally-friendly alternatives to their products, are mostly attending to which stakeholder group? A. its customers B. their employees C. the marketplace D. society E. the environment

society

In using the ethical decision-making framework, a firm should consider the impact of its actions on its employees, suppliers, and customers—otherwise known as the firm's A. stockholders B. stakeholders C. franchisers D. corporate partners E. shareholders

stakeholders

Four Seasons Hotels & Resorts is recognized as an industry leader for exemplary customer service and has continued to add new ways to serve customers better than its competitors. In doing so, the hotel chain has focused on sustaining its competitive advantage through ________ excellence. A. customer B. operational C. sustainable D. product E. locational

customer

It is important to determine the amount of traffic using a particular site, visits to the blogs, or tweets about the site. A measure used for this purpose is the number of A. hits B. clicks C. page views D. click paths E. conversions

hits

When a game or app prompts users to make buy add-ons to enhance the app or game, it is referred to as a(n) A. paid app B. ad-supported app C. micro app D. in-app purchase E. app enhancement

in-app purchase

When a firm decides what level of commitment to its ethical policies and standards it is willing to declare publicly and how the firm intends to balance the needs of its various stakeholders, it is in which phase of the strategic marketing planning process? A. prototype B. preplanning C. planning D. implementation E. control

planning

What are the three major phases of a marketing plan? A. assessment, action, adjustment B. planning, implementation, control C. strategy, execution, regulation D. design, apply, manage E. forecasting, application, management

planning, implementation, control

The Coca-Cola Company targets its soft drinks, Dasani and Smartwater, and Minute Maid juices campaigns to different market ________, including parents, their children, and athletes. A. fragments B. geographics C. modules D. exchanges E. segments

segments

As a marketing executive, Suri wants to ensure that she has applied all relevant decision-making criteria to ensure she has come to a decision that respects the rights and dignity of all stakeholders. What tool would Suri use to do this? A. a dimensional evaluator B. the standards of human rights C. the hierarchy of effects model D. a stakeholder evaluative model E. an ethical decision-making metric

an ethical decision-making metric

Recognizing marketing's greater purpose is one of the overriding principles of A. the triple bottom line B. corporate social responsibility C. marketing ethics D. business ethics E. conscious marketing

conscious marketing

What depicts the three-stage online, social, and mobile media engagement process? A. excite, educate, engage B. plan, implement, control C. strategize, execute, evaluate D. listen, analyze, do E. create, utilize, revise

listen, analyze, do

A ________ is a measuring system that quantifies a trend, dynamic, or characteristic and is used by marketers to help explain why things happened and also to predict the future. A. benchmark B. target C. metric D. segment E. scale

metric

During the last couple of decades, it has become important for value-oriented marketers to ________ with customers. A. move from a transactional orientation to a transitional perspective B. manage transactions more efficiently C. reduce the number of transactions to improve relationships D. move toward a relational perspective from a transactional orientation E. consider how they can reduce their interactions

move toward a relational perspective from a transactional orientation

Facebook Marketplace, where people can buy or sell virtually anything to other consumers, is an example of ________ marketing. A. B2B B. B2C C. C2C D. A2B E. C2B

C2C

Employees at Southwest Airlines donate volunteer hours to Ronald McDonald Houses throughout the United States. This is an example of a(n) ________ program. A. CSR B. ethical marketing C. conscious marketing D. CRM E. sales

CSR

Which financial performance metric might be used to evaluate the performance of a company's implementation of its marketing plan? A. four Ps (price, product, promotion, place) B. SWOT analysis (strengths, weaknesses, threats, opportunities) C. STP (segmentation, targeting, positioning) D. GM (gross margin) E. SBU (strategic business unit)

GM (gross margin)

According to your text, what can be said regarding the use of social media in advertising? A. Facebook is the social media site of choice for marketers because nearly 75 percent of the world's population has signed up for a Facebook account. B. Marketers are reluctant to use social media in advertising because technology is changing so rapidly. C. Only 30 percent of the world's population uses Facebook—which means 70 percent are not accessible. D. Social networks such as Facebook are nowhere near saturation in the U.S. E. The use of social media, once the premier way to connect to consumers, is rapidly falling off in popularity due to privacy concerns among users.

Only 30 percent of the world's population uses Facebook—which means 70 percent are not accessible.

After weighing various alternatives and choosing the most appropriate action to take, what action should be taken if the marketer is not confident about that decision? A. Persuade executives that it is the only solution B. Develop a plan to placate stakeholders C. Go forward with that alternative in spite of the concerns D. Reexamine other alternatives E. Do nothing

Reexamine other alternatives

Which statement regarding the development and implementation of a digital marketing campaign is true? A. Digital marketing campaigns do not need to identify a target audience since social media is widely available to all consumers B. The images and messages used in a digital marketing campaign need to be updated almost constantly C. Budgets developed for a digital marketing campaign do not need to be revised like traditional campaigns do D. At this time, there are no concrete ways to accurately monitor a digital marketing campaign's effectiveness E. A digital marketing campaign should be run independently of a firm's traditional IMC tactics

The images and messages used in a digital marketing campaign need to be updated almost constantly

During which phase of the strategic marketing planning process are managers evaluated on their actions from a conscious marketing perspective? A. planning B. evaluation C. implementation D. control E. monitoring

control

Mattel decided to recall millions of Chinese-made toys due to lead paint and small magnets that could harm children. For Mattel, this was an issue related to A. ethics B. the triple bottom line C. sustainability D. segmentation E. marketing analytics

ethics

Red Letter Days encourages Facebook and Twitter followers to post pictures with their mothers and tell why she deserves a day off and a chance to win a free lunch at a top London restaurant. In doing so, the restaurant is focusing on which aspect of the 4E framework? A. educating B. enlightening C. experiencing D. employing E. exciting

exciting

MADD promotes its campaign to stop drunk driving through mailings, advertising, and education. MADD is providing which kind of marketing offering? A. services B. goods C. ideas D. innovations E. promotions

ideas

When firms apply an ethical framework for making decisions in a questionable situation, the first step is to A. take evasive action B. identify issues C. gather information and identify stakeholders D. brainstorm alternatives E. choose a course of action

identify issues

Your employer wants to analyze data that come from other sites, such as measuring where people have come from to get to your company's site. What would you recommend that your company use to determine how people searched the Internet to find its products? A. hits count B. keyword analysis C. bounce rate D. conversion rate E. click path count

keyword analysis

American Airlines recognizes that there are different groups of travelers with different needs, wants, and characteristics in their choice of airline transportation. The process of dividing American's market into these various groups is A. targeting B. market mixing C. market positioning D. market segmentation E. value grouping

market segmentation

Shampoo manufacturers understand that consumers have different needs when it comes to what type of shampoo they use, such as for curly hair, two-in-one ease of use, or color protection. Knowing that, shampoo manufacturers have divided the market based on these various needs and developed shampoos to accommodate each group. By doing so, these shampoo manufacturers are involved in A. a situation analysis B. market segmentation C. product placement D. market development E. diversification

market segmentation

To evaluate the effectiveness or performance of a marketing strategy, firms most effectively use A. a mission statement B. employee feedback C. marketing metrics D. brainstorming E. a SWOT analysis

marketing metrics

If Lili Reinhart posts a closeup of her image on Facebook, showing her CoverGirl® makeup, CoverGirl will have instantly reached all her followers. This is an example of the ________ effect of social media. A. network B. connected C. information D. dynamic E. timeliness

network

A person who wishes to fulfill the need for "me time" would most likely download which type of app? A. one that allows them to socialize with their friends B. one that helps them become more productive at work C. one that helps them prepare for upcoming events D. one focused on entertainment and relaxation E. one focused on self-expression

one focused on entertainment and relaxation

When marketers strive to get their customers the merchandise they want, when they want it, in the required quantities, and at a lower delivered cost than that of their competitors, they are hoping to achieve a sustainable competitive advantage through ________ excellence. A. locational B. operational C. product D. customer E. strategic

operational

Coinstar uses the ________ element of the marketing mix when it makes its coin kiosks available for customers when and where they need them. A. product B. promotion C. place D. price E. premium

place

When Macey was buying a new car, she decided to buy a Toyota because it had a dealership close to her home with a service department that was open on Saturdays. Which element of the marketing mix is influencing Macey's decision? A. product B. price C. promotion D. people E. place

place

If managers at General Electric (GE) evaluated all the firms' various divisions and then decided to sell off its finance and healthcare divisions, it would be involved in A. product development B. demarketing C. diversification D. portfolio analysis E. franchise reevaluation

portfolio analysis

Through which marketing mix variable do companies capture value from consumers, resulting in the generation of revenue? A. product B. price C. promotion D. people E. place

price

Which marketing mix element corresponds to what the buyer gives up in the marketing exchange? A. product B. price C. promotion D. distribution E. place

price

Which marketing mix variable is involved in the capture of value in the marketing exchange? A product. B. services C. price D. promotion E. place

price

What two metrics are used in the BCG portfolio analysis to evaluate the various products of a firm? A. relative market share and market growth rate B. production costs and profit potential C. market share and profit potential D. market growth rate and strength of product E. relative market share and profit potential

relative market share and market growth rate

To get customers excited about a digital offer, the offer must be A. innovative and substantial B. timely and aimed at a broad-based audience C. relevant and aimed at a target audience D. isolated and trendy E. general and unique

relevant and aimed at a target audience

In China, the app Weixin allows users to send videos, photos, messages, web links, status updates, and news. This app meets people's need to A. self express B. educate C. discover D. socialize E. shop

socialize

Although there are many and varied definitions of corporate social responsibility (CSR), firms generally acknowledge that, in addition to economic and legal duties, they have responsibilities to A. their partners B. their competitors C. strategic planning D. society E. political donors

society

Economic, social, and environmental performance refer to the A. triple threat B. triple bottom line C. triple performance factors D. triple stakeholders E. triple shareholders

triple bottom line

A firm makes generous donations to charities, but its employees are always being scrutinized for engaging in questionable sales practices. This firm would be considered A. ethical but socially irresponsible B. ethical and socially responsible C. unethical but socially responsible D. unethical and socially irresponsible E. neither ethical nor socially responsible

unethical but socially responsible

A local bakery is known for poor customer service and an unclean environment. These factors would be classified as ________ in a SWOT analysis A. weaknesses B. strengths C. threats D. opportunities E. advantages

weaknesses

According to recent research, the majority of Americans A. do not consider whether a company is ethical and socially responsible when buying products B. are not willing to pay more just because a company proves it is ethical C. will refuse to buy products from companies that are opposed to issues important to them D. prefer that companies care about the same social issues they do, but it doesn't affect their purchase decisions E. consider the costs associated with social responsibility

will refuse to buy products from companies that are opposed to issues important to them

A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected income statements is referred to as a(n) A. operational plan B. situation analysis C. marketing plan D. mission statement E. business plan

marketing plan

The belief that a good product would sell itself came out of the ________ era. A. sales-oriented B. market-oriented C. value-based D. consumer-demand E. production-oriented

production-oriented

When marketers communicate the value proposition, they are focusing on the ________ element of the marketing mix. A. product B. price C. promotion D. place E. policy

promotion

A national hotel chain engages in conversations with its customers through Facebook and allows them to book their hotel reservations through its Facebook page. This is an example of marketing using ________ to be more value driven. A. conventional media B. cobranding C. unethical means D. the supply chain E. social media

social media

Starbucks Coffee's corporate structure involves three regional divisions: the Americas, China and Asia-Pacific, and Europe, Middle East, and Africa. These divisions of Starbucks are called A. segments B. strategic business unit C. metrics D. portfolios E. marketing mixes

strategic business units

The second element of website design involves the traditional contextual elements. With what do these contextual elements need to be aligned ? A. search criteria B. target market(s) C. corporate blogs D. market segmentation E. generational cohorts

target market(s)

When a coffee grower sells its coffee beans to Starbucks, it is engaged in ________ marketing. A. B2B B. B2C C. C2C D. industrial E. C2B

B2B

Hannah's Hair Salon provides haircuts and hair color treatments, and also sells various shampoo and conditioners. Hannah's Hair Salon, therefore, provides A. both services and ideas B. both goods and services C. goods, services, and ideas D. only goods E. only services

both goods and services

In which step of the ethical decision-making framework might a company decide to halt its marketing research project? A. identify issues B. gather information and identify stakeholders C. maximize profits D. brainstorm and evaluate alternatives E. consult with stakeholders

brainstorm and evaluate alternatives

What is one of the major considerations involved when a company develops its marketing strategy? A. analysis of human resource policies B. determinations of sustainable business practices C. review of all corporate standards D. building a competitive advantage E. summary of executive compensation

building a competitive advantage

________ is concerned with distinguishing between right and wrong actions and decisions that arise in a business setting A. business ethics B. corporate scandal C. social responsibility D. ethical framework E. moral missteps

business ethics

According to the BCG matrix, which type of product typically has excess resources that can be used to support other products that need additional resources? A. cash cows B. stars C. question marks D. dogs E. leaders

cash cows

After a firm has carefully considered all relevant alternatives to address an ethically difficult situation, the next step would be to ________ to bring about the best solution. A. take evasive action B. identify issues C. gather information and identify stakeholders D. brainstorm alternatives E. choose a course of action

choose a course of action

Which of the seven critical elements of online marketing is best addressed by thought-sharing sites? A. context B. core plans C. community D. content E. connection

community

Companies must deliver more value and satisfaction to target consumers than its competitors to gain a A. competitive advantage B. competitor analysis C. competitive benchmark D. competitor-centered advantage E. competitive franchise

competitive advantage

The SWOT analysis is typically conducted during which step in the marketing planning process? A. defining the mission B. conducting a situation analysis C. identifying and evaluating opportunities D. implementing the marketing mix E. evaluating performance

conducting a situation analysis

Susie posts pictures of places she has visited on Instagram and tells the story behind them. What social media effect does this represent? A. network effect B. connected effect C. information effect D. dynamic effect E. timeliness effect

connected effect

What is one of the core practices among value-oriented marketers? A. keeping information confidential by not sharing it among the firm's subsidiaries B. constantly measuring the benefits that customers receive against the costs of offerings C. maintaining a transactional orientation in the seller-buyer relationship D. managing the relationships among employees E. consistently selling products below the cost of production

constantly measuring the benefits that customers receive against the costs of offerings

What type of blogs are central to organizations' digital marketing efforts? A. professional blogs B. personal blogs C. microblogs D. personal blogs E. corporate blogs

corporate blogs

When a firm considers its overall objectives and considers the type of business it is in, it is engaged in which step of the marketing planning process? A. defining a mission B. conducting a situation analysis C. identifying and evaluating opportunities D. implementing the marketing mix E. evaluating performance

defining the mission

Once a target audience has been determined, what is the third step in developing and implementing a digital marketing campaign? A. develop the budget B. choose the influencers C. develop the campaign D. identify a strategy and goals E. analyze digital marketing analytics

developing the budget

A person who has downloaded the Flipboard app on his or her smartphone to get full-screen magazines, multiple news and entertainment sources, entertainment, local news, and business news is attempting to fulfill which motivation for using a mobile application? A. preparation B. discovery C. accomplishing D. self-expression E. education

discovery

Which growth strategy is being used when a firm introduces a new product or service to a market segment that is currently not being served by the firm? A. product development B. market development C. market penetration D. diversification E. demarketing

diversification

To ensure that conscious marketing is infused into all levels of the firm, it can be integrated into A. each stage of the marketing plan B. the control phase of the marketing plan C. the implementation phase of the marketing plan D. the planning phase of the marketing plan E. the brainstorming phase of the marketing plan

each stage of the marketing plan

While shopping online for gardening supplies, Louisa visited a website for a company she had heard advertised on HGTV. Although she was not familiar with this particular firm, Louisa was able to learn about the company's value proposition as well as the benefits of their products through their website and decided to purchase a product. Which aspect of the 4E framework does this represent? A. excite the customer B. engage the customer C. experience the product D. employ the product E. educate the customer

educate the customer

Toyota marketed its RAV4 hybrid model to a distinct segment of consumers as an adventurous, sporty hybrid that stands out as being uniquely different from other hybrid models. This is an example of A. a mission statement B. product placement C. marketing positioning D. a situation analysis E. a strategic business unit

marketing positioning

Although Olive Garden, Maggiano's Little Italy, and Bertucci's all strive to provide good Italian food and service to their respective target markets, the difference in their choice of target market, design of their marketing mix, and the basis of their competitive advantage is directly related to their own A. competitive focus B. consumer franchise C. market leadership D. marketing strategy E. competitive direction

marketing strategy

The goal of any exchange is that the parties to the transaction be A. close partners B. interdependent C. codependent D. satisfied E. savvy

satisfied

What is the best example of corporate social responsibility affecting the marketplace? A. A company ensures a safe working environment for its employees B. An industry leader adopts environmentally friendly production practices and other companies in the industry follow suit C. A company respects the privacy of the customers who shop at its online store D. A firm spends time and energy engaged in activities that will improve the overall community E. A firm focuses its efforts on developing outreach programs aimed at its employees' families

An industry leader adopts environmentally friendly production practices and other companies in the industry follow suit

Patagonia's mission statement, "Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis," was most likely created during which phase of the strategic marketing planning process? A. prototype B. preplanning C. planning D. implementation E. control

planning

Which digital marketing outlet would fall under the category of a "thought-sharing site"? A. Youtube B. Flickr C. LinkedIn D. Google+ E. American Express Open Forum

American Express Open Forum

With regard to the ethical decision-making metric, which question best represents the transparency test? A. Would I want the person I admire most to see me doing this? B. Would I want to see the action I am about to take on the front page of the local paper? C. Could I give a clear explanation for the action I'm contemplating that would satisfy a fair and moral judge? D. Would I like to be on the receiving end of this action? E. Would the person I admire most engage in this activity?

Could I give a clear explanation for the action I'm contemplating that would satisfy a fair and moral judge?

Pat feels pressure to increase sales, so she decides to intentionally mark up the price on a new shipment of leggings. Even though she is deceiving the customer, Pat justifies her decision by believing management will be pleased with the increase in revenue. However, her decision may have serious consequences for the company in the long term. What is the best way to avoid the consequences that can result from such behavior? A. Make each employee take an "ethical behavior test" before being hired B. Ensure management does not burden employees with unrealistic sales goals C. Make sure the short-term goals of each employee are aligned with the long-term goals of the firm D. Have a disclaimer at the store entrance that lets customers know that "prices are subject to change" E. Have a company policy that rewards employees for bringing unethical behavior to management's attention

Make sure the short-term goals of each employee are aligned with the long-term goals of the firm

How does a microblog differ from a personal blog? A. A microblog contains professional content, whereas a personal blog contains only personal content B. Microblogs allow people to share their thoughts, opinions, and feelings with the entire world, while personal blogs are created by and usually for individuals C. A microblog is categorized as a media-sharing site, whereas a personal blog is characterized as a thought-sharing site D. A microblog is utilized by corporations to disseminate product information, whereas a personal blog is utilized by individuals for social purposes E. A microblog can be evaluated by social media marketers while a personal blog cannot

Microblogs allow people to share their thoughts, opinions, and feelings with the entire world, while personal blogs are created by and usually for individuals

A business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty among the firm's most valued customers is known as A. strategic management B. value cocreation C. customer relationship management D. supply chain management E. the marketing mix

customer relationship management

A struggling company determined that it would close down divisions that were in low-growth markets with relatively low market shares. According to the BCG product portfolio analysis, this company was identifying divisions in the ________ category for closure. A. stars B. cash cows C. clunkers D. question marks E. dogs

dogs

In terms of the 4E framework, a company that employs a media-sharing site such as YouTube does so to help consumers A. experience the company's goods or services B. get excited about selling a good or service C. become active in advertising the company's product D. educate others about the product E. enroll in sweepstakes and contests offered by the company

experience the company's goods or services

After a firm has conducted a SWOT analysis, it would typically progress to the next step of marketing planning, which is ________ and involves using STP (segmentation, targeting, and positioning). A. defining the mission B. conducting a situation analysis C. identifying and evaluating opportunities D. implementing the marketing mix E. evaluating performance

identifying and evaluating opportunities

A manager at a marketing research firm is trying to determine if the firm acted ethically when it conducted its latest study. In doing so, the manager is evaluating whether or not the research respondents were told the real purpose of the study before proceeding. Which step of the ethical decision-making framework is the manager participating in? A. take evasive action B. identify issues C. gather information and identify stakeholders D. brainstorm alternatives E. choose a course of action

identifying issues

In an attempt to increase sales, the Lettuce Entertain You restaurant group increased its advertising and sales promotions in its current markets, hoping to attract new customers and get existing customers in the doors. Which growth strategy is Lettuce Entertain You employing? A. product development B. market development C. market penetration D. diversification E. demarketing

market penetration

Kroger grocery stores collects massive amounts of data about how, when, why, where, and what people buy, and then analyzes those data to better serve its customers. This refers to A. market procurement B. product promotion C. marketing analytics D. customer demographics E. value-oriented marketing

marketing analytics

The ________ consists of the product, price, place, and promotion of an offering. A. marketing exchange B. marketing mix C. channel of distribution D. value proposition E. marketing plan

marketing mix

In her role as marketing manager, Sonja is responsible for addressing the design of her new product, as well as how much it should cost, what promotional activities should occur, and how the product will be distributed. Sonja is creating a A. marketing concept. B. competitive advantage. C. marketing plan D. customer franchise. E. marketing exchange.

marketing plan

Understanding consumers' ________ is fundamental to marketing success. A. family connections B. rituals and wants C. needs and wants D. educational attainment E. physical locations

needs and wants

Which marketing mix element deals specifically with retailing and marketing channel management? A. place B. product C. price D. promotion E. packaging

place

Apple creates value for consumers by developing a variety of offerings, such as its Apple Watch, Mac computers, and iPhones. In doing so, Apple is focusing on which element of the four Ps? A. price B. place C. planning D. people E. product

product

Coca-Cola introduced four new flavors of its brand of Diet Coke, to exploit the growth opportunities for new products in current markets. This is an example of which growth strategy? A. product development B. market development C. market penetration D. diversification E. demarketing

product development

What is one of the four major growth strategies marketers typically utilize? A. portfolio analysis B. demarketing C. product development D. market leadership E. product proliferation

product development

During the Olympics, companies use medal-winning athletes in television ads for their products. Which of the four Ps does this represent? A. product B. price C. promotion D. people E. place

promotion

A SWOT analysis involves an analysis of factors internal to the company, which include ________, as well as factors outside the company, which include ________. A. opportunities and threats; strengths and weaknesses B. strengths and weaknesses; opinions and thoughts C. substantial winnings; opportunities and threats D. strengths and weaknesses; opportunities and threats E. strategic worldview; options and tactics

strengths and weaknesses; opportunities and threats