Marketing 311 Final

________ is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor. a) Advertising b) Sales promotion c) Direct marketing d) Personal selling e) Segmentation

a) Advertising

Which of the following is true of focus group discussions? a) Focus group discussions are typically lead by a moderator, who should provide unbiased questions to the group to guide their discussion. b) They do not lead to significant "depth" of data. c) The quantitative data generated through focus groups can be evaluated quickly and economically. d) They are not ideal for tangible demonstrations and hands on exposure to a company's products for review. e) Focus groups are a more cost-effective method of contact and research overall than other methods of research, including online surveys.

a) Focus group discussions are typically lead by a moderator, who should provide unbiased questions to the group to guide their discussion.

Which statement is most likely true about idea generation in the new product development process? a) Idea generation is usually followed by procedures that reduce the total number of ideas. b) Idea generation is most effective when it occurs after idea screening. c) Intrapreneurial programs enable customers to contribute to the idea generation process. d) A company can either develop ideas through internal or external sources but not through both. e) Most companies set a limit for the number of ideas generated to simplify the process.

a) Idea generation is usually followed by procedures that reduce the total number of ideas.

In which step of the selling process does a salesperson set call objectives? a) None of the other choices are correct b) qualifying c) presentation d) prospecting d) follow-up

a) None of the other choices are correct

The final step in the marketing process is capturing customer value in the form of profits and customer equity. a) True b) False

a) True

________ is a key component of ethical marketing. a) applying high moral standards when making marketing decisions b) placing an emphasis on increasing short-run sales rather than long-term value c) considering the consumer's point of view d) defining goals in broad social terms rather than narrow product terms e) seeking real product and marketing improvements

a) applying high moral standards when making marketing decisions

If a business wishes to ________, it should stay away from pressure selling. a) build long-term relationships with customers b) move a previous year's product models c) maintain an accurate customer database d) comply with local and federal laws e) achieve short-term gains

a) build long-term relationships with customers

In which of the following steps of the selling process does a salesperson ask a buyer for an order? a) closing b) follow-up c) approach d) qualifying e) preapproach

a) closing

Monica is in the market for a new truck. She is seriously considering either a Ford F150 or Chevy Silverado because they both have excellent quality and safety ratings and are comparable in price. Monica is in the ________ stage of the buyer decision process. a) evaluation of alternatives b) post purchase behavior c) purchase decision d) need recognition e) information search

a) evaluation of alternatives

Commercialization focuses on finding new ways to solve customer problems and create more customer satisfying experiences. a) false b) true

a) false

Distribution channels can largely be ignored since they have almost no impact on the firm's other marketing decisions. a) false b) true

a) false

Products include only tangible objects. a) false b) true

a) false

The cost of hiring a bad salesperson is minimal since they can be quickly terminated and replaced with a new hire. a) false b) true

a) false

Retailers like Kohl's and JCPenney carry less-expensive versions of established brand name products or new lower-price lines. They have adopted a ________ pricing strategy. a) good-value b) target return c) market-skimming d) high-low e) cost-plus

a) good-value

The first step in the BCG approach is to ________. a) identify the firm's strategic business units (SBUs) b) milk the cash cows c) define your price d) invest funds in stars e) divest the dogs

a) identify the firm's strategic business units (SBUs)

Predicting consumer habits by solely focusing on the demographic segmentation bases ______. a) yields robust insights needed to design marketing strategies b) is the best practice c) is misguided d) is more effective than using multiple segmentation bases

a) is misguided

The two factors that the BCG strategy considers when assessing and managing SBUs are ________. a) market growth rate and relative market share b) market growth rate and market penetration c) market growth rate and market development d) relative market share and product development e) relative market share and market penetration

a) market growth rate and relative market share

The first Target store opened in 1962. Its initial strategy was to set prices low to attract a large number of buyers quickly and win a large market share. This is referred to as ________. a) market-penetration pricing b) market-skimming pricing c) None of the other choices are correct d) target costing e) value-added pricing

a) market-penetration pricing

Michael Crevence, the owner of Mike's Dairy Bar, is considering opening a second location. He evaluates several potential sites by assessing traffic patterns, neighborhood conditions, and the locations of competitors. He is engaging in ________. a) observational research b) focus groups c) personal interviews d) internet-based surveys e) experimental research

a) observational research

Ashley was walking down the cookie aisle in the grocery store and suddenly her eye was caught by a package whose shape and graphics resembled an oven. Having never tried the cookie brand before, she thought she'd give it a go, thinking to herself that this brand must have fresher cookies than other cookie brands - simply based on the oven graphic and shape used in the packaging. This indicates that Ashley's purchase choice was primarily influenced by what consumer behavior concept/process? a) perception b) culture c) demographic d) learning e) personality

a) perception

Alaska Airlines Flight 167 takes off at 50 percent capacity. The unoccupied seats cannot be stored for later sale or use. This is an example of which service characteristic? a) perishability b) inseparability c) variability d) intangibility e) tangibility

a) perishability

Which of the following is a pure tangible good? a) shampoo b) a meal at a restaurant c) a spa treatment d) a medical check-up e) financial advice

a) shampoo

Hip and Cool Radio is the largest radio broadcasting company targeting young Americans today. Hip and Cool Radio staffers are constantly reviewing secondary information looking for any emerging trends in their target market. A significant potential disadvantage of this research approach is: a) the questionable quality of the data, creating an accuracy problem. b) the high cost of collecting secondary data. c) the length of time it takes to collect secondary data, creating a timeliness problem. d) it can't aid in formulating research problems or subsequent research methods.

a) the questionable quality of the data, creating an accuracy problem.

Crowdsourcing refers to inviting broad communities of people—customers, employees, independent scientists and researchers, and even the public at large—into the new product innovation process. a) true b) false

a) true

Toxic Wing's pledge to use recyclable packaging is one example of a sustainability initiative. a) true b) false

a) true

________ simply describes the appearance of a product. a) widening b) Style c) Symbol d) Filling e) Mixing

b) Style

Which of the following promotion mix approaches involves a producer promoting a product to different channel members who in turn promote the product to customers? a) vertical integration b) a push strategy c) direct marketing d) publish-subscribe method e) a pull strategy

b) a push strategy

A marketing manager suggests that the company use the results of a survey conducted by the company last year to address an emergent problem the organization is facing this year. The manager is therefore suggesting the use of primary data to answer the problem at hand. a) true b) false

b) false

In consumer product companies such as P&G or Nike, the sales force works directly with consumers. a) true b) false

b) false

Marketing can be summed up as "telling and selling." a) true b) false

b) false

The best companies serve all market segments. a) true b) false

b) false

The only organizations that produce carbon footprints are product manufacturers. a) true b) false

b) false

When buying unsought products, consumers spend considerable time and effort in gathering information and making comparisons. a) true b) false

b) false

Which one of the following is NOT a prerequisite for market segmentation? a) it must be accessible b) it must be small enough c) it must be measurable d) it must be actionable e) none of the above

b) it must be small enough

The buyer decision process begins with which of the following? a) information search b) need recognition c) purchase decision d) evaluation of alternatives e) post purchase behavior

b) need recognition

Charlotte is in the market for a new phone. She has determined from her information search that while there are eight possible phones within her price range, the new MotoX phone, the iPhone 12, and the Samsung Galaxy A71 are likely the best fit for her needs and have the features she desires. She ultimately decides that she will purchase the Samsung Galaxy A71, as it had the biggest screen size out of the three phone models and a large screen size was at the top of Charlotte's "must have" list for her new phone. What is the next stage in Charlotte's buyer decision process? a) need recognition b) postpurchase behavior c) purchase decision d) customer satisfaction e) evaluation of alternatives

b) postpurchase behavior

When a company issues a press release to announce a sizable donation to a national charity, it is using ________ to generate goodwill and maintain a positive corporate image. a) advertising b) public relations c) marketing channels d) digital strategic implementation e) personal selling

b) public relations

The process of choosing which market segments to penetrate is known as ________. a) positioning b) targeting c) segmentation d) fracturing e) differentiation

b) targeting

Hongii Cosmetics is advertising its newest line of eye makeup. Made from all-natural ingredients, the products are hypoallergenic. Hongii is selling the products in specially designed tubes that make application easier. Which of the following is a core customer value for Hongii's line of eye makeup? a) the products' revolutionary packaging b) the desire for having beautiful eyes c) the Hongii brand d) the natural ingredients e) the hypoallergenic properties of the products

b) the desire for having beautiful eyes

The shift toward digital and omni-channel buying was greatly accelerated by the COVID-19 pandemic. a) false b) true

b) true

Danny Batler has a limited budget to conduct market research. Which of the following research approaches would provide Danny with the most cost-effective way to reach a large number of respondents in a short period? a) telephone surveys b) personal interviews c) Internet-based surveys d) longitudinal studies e) focus group interviews

c) Internet-based surveys

Which of the following statements is true of salespeople? a) They do not represent the customers to the company. b) They represent a new class of professionals who have emerged as part of the steep rise in retailing. c) They represent a company to its customers by communicating and selling. d) They are employed mostly in click-only companies. e) They do not work with wholesalers and retailers.

c) They represent a company to its customers by communicating and selling.

In which of the following situations is a producer guaranteed full control over product sales? a) an indirect marketing channel b) a corporate marketing channel c) a direct marketing channel d) an administered marketing system e) a contractual distribution channel

c) a direct marketing channel

Winter's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged men, and the other line targets younger, up-and-coming professionals. Winter's most likely segments the consumer market based on ________ variables. a) Geographic b) universal c) demographic d) psychographic e) behavioral

c) demographic

AirNetwork, a telecommunications company, sponsors a rock concert by a famous band in order to further its brand visibility. This is an example of ________. a) a trade promotion b) a point-of-purchase promotion c) event marketing d) a price pack e) a premium

c) event marketing

Lush Lawns, a new landscaping company, uses the same logo and shade of green in all forms of communication including its online ads, truck signage, website, and business cards. Which technique is being used by Lush Lawns to promote its business? a) niche market penetration b) STP c) integrated marketing communications d) global marketing management e) logistics information management

c) integrated marketing

Trudy Snacks Inc. attempts to stock its products in as many gas stations and convenience stores as possible. This practice is an example of ________. a) None of the other choices are correct b) single distribution c) intensive distribution d) channel focus e) exclusive distribution

c) intensive distribution

Smart marketing managers are mindful that _________. a) marketing segmentation involves position the product for maximum exposure b) the best strategy is to try to serve as many customers as possible c) it is impossible to serve all potential customers in every way d) hiring more sales reps always leads to higher sales volume e) it is better to have more products available for sale

c) it is impossible to serve all potential customers in every way

The systematic design, gathering, analysis, and reporting of data pertinent to a particular marketing issue that a firm is experiencing is known as ________. a) Test marketing b) SWOT analysis c) Commercialization d) Portfolio analysis c) marketing research

c) marketing research

Clorox sells five major product lines including cleaning, household, lifestyle, professional, and international. Together the product lines make up Clorox's ________. a) product depth b) product consistency c) product mix d) product assemblage e) product length

c) product mix

Brisneff is a regional chain of supermarkets in the Midwest. The primary role of the staff is to restock shelves and operate cash registers. Customers locate, compare, and select their groceries and other sundry items. Brisneff is most likely a ________. a) full-service retailer b) category killer c) self-service retailer d) pop-up store e) unsought good

c) self-service retailer

A company's external sources of new product ideas include its ________. a) factory workers b) engineers c) suppliers d) sales team e) managers

c) suppliers

Yummy Snacks Inc. is developing a new gluten-free, chili-flavored pretzel. The marketing strategy for the product has already been developed and presented to top management. Several prototypes were also formulated by the company's R&D team. The final prototype is now being tested rigorously to ensure that it passes FDA standards. Once approved, the next step will most likely be ________. a) portfolio analysis b) commercialization c) test marketing d) internal marketing e) trade shows

c) test marketing

Curology, a cosmetics company, is updating its advertising approach and mission statement. The CEO emphasizes that the new mission statement should be market-oriented, not product-oriented. Which of the aforementioned mission statements best fits the business? a) to create the best possible products and sell them at the best possible prices b) to sell hypoallergenic cosmetics products made only from the finest organic ingredients c) to give customers the complexion they dream about by providing products suited to their needs d) to become a market leader in every cosmetics product category e) to increase our market share in the cosmetics segment and increase profit margins

c) to give customers the complexion they dream about by providing products suited to their needs

Jingle is a toy manufacturer based in New Zealand. Which of the following most likely indicates that Jingle is following a diversification strategy? a) Jingle increases its spending on advertising and promotion. b) Jingle acquires the rights to manufacture toys resembling a popular cartoon character. c) Jingle introduces its toys in the Indian and Southeast Asian markets. d) Jingle enters the U.S. market with a line of children's clothing. e) Jingle develops a new line of educational toys targeting its current market.

d) Jingle enters the U.S. market with a line of children's clothing.

In a typical Funnel, which of these segments would be the largest? a) People who have interest in purchasing b) People who have acted upon their purchase decision c) People who have decided to purchase d) People who are aware of the product

d) People who are aware of the product

Which of these is NOT a reason that new products fail? a) They are poorly advertised. b) They are launched at the wrong time. c) They are incorrectly positioned. d) They are made overseas. e) They are priced too high.

d) They are made overseas.

Product quality has two dimensions: level and ________. a) feel b) aesthetic c) prive d) consistency e) None of the other choices are correct

d) consistency

The marketing department focuses on ________ more than any other department in the company. a) new products b) sales c) advertising d) customers e) brands

d) customers

High-end luxury brands like Bentley for cars, Louis Vuitton for handbags, and Rolex for watches use ________ distribution, giving a limited number of dealers the sole right to sell products in a specified geographic territory. a) horizontal b) intensive c) vertical d) exclusive e) inclusive

d) exclusive

Hot Dog Heaven introduced a new hot dog and released it in two different cities at two different prices. Marketers of Hot Dog Heaven then analyzed the sales records of their outlets at the two cities, determined the price that resulted in better profits, and used the information to set a nationwide price for their new offering. This is an example of ________. a) exploratory research b) survey research c) focus group research d) experimental research e) bad research

d) experimental research

New product development starts with ________. a) business development b) idea screening c) targeting d) idea generation e) business analysis

d) idea generation

Under Armour increasing its advertising budget to advertise in more magazines and on TV similar to where they currently advertise that have similar readership/viewership demographics, and creating a semi-annual sale in which prices for existing products are cut for a weekend in its original apparel line is an example of a ________ strategy. a) product development b) diversification c) product diversification d) market penetration e) cash cow

d) market penetration

Positive factors or trends in the external environment that a business may be able to take advantage of are referred to as ________ in a SWOT analysis. a) strengths b) strategies c) wants d) opportunities e) controls

d) opportunities

Erin thinks and believes Cadillac automobiles are a fit for older men, not for young professional women such as herself, and high priced. She thinks Mini Coopers are more suitable for someone of her age range and that they are moderately priced. This information when combined with other consumer data regarding how Cadillac is perceived in regards to price and intended age of the end consumer, if utilized by a car company to develop their positioning strategy, could be used to create a ____________. a) segmenting target b) competitive advantage c) situation analysis d) positioning map e) substantial segment analysis

d) positioning map

Salespeople in the fields of insurance, real estate, and used vehicles are taught to persuade customers with polished, prepared speeches. This is referred to as _______. a) redlining b) customer-driven marketing c) reverse redlining d) pressure selling e) sustainable marketing

d) pressure selling

Which of the following needs in Maslow's hierarchy is generally satisfied last? a) physiological b) social c) esteem d) self-actualization e) safety

d) self-actualization

________ refers to the fact that services cannot be seen, tasted, felt, heard, or smelled before they are purchased. a) Service inseparability b) service portability c) sevice perishability d) service intangibility e) service variability

d) service intangibility

In which of the following cases is little or no test marketing most likely recommended for a new product? a) when management is unsure of the marketing program for the product b) when the product requires a major investment c) when the risks associated with introducing the product are high d) when the costs of developing and introducing the product are low e) when management is unsure of the projected demand for the product

d) when the costs of developing and introducing the product are low

Which of the following sets the price ceiling for a product's pricing? a) elements of the product mix b) competition c) profits d) product costs e) consumer perceptions of value

e) consumer perceptions of value

Laundry detergent, candy, magazines, and fast food are purchased frequently by customers. They are examples of ________ products. a) bank breaking b) core c) intangible d) unsought e) convenience

e) convenience

Marketing must ________ to be effective. a) deliver high quality products b) develop a culture of warmth and belonging c) create a buying experience d) help people connect with the people in their lives e) create customer value

e) create customer value

Oftentimes the hardest, but most important phase in the research process is ________. a) developing the research plan b) gathering secondary data c) interpreting the findings d) collecting and analyzing the data e) defining the problem and research objectives

e) defining the problem and research objectives

Rent, electricity, and executive salaries that do not vary with production or sales level are referred to as ________ costs. a) variable b) floor c) target d) fixed e) value-driven

e) fixed

When the heterogeneous market is divided into fairly homogeneous subsets of customers it is called a) demographic segmentation b) specified targeting c) differentiated marketing d) market positioning e) market segmentation

e) market segmentation

A detailed version of a product idea stated in meaningful consumer terms is a ________. a) product evaluation b) product image c) product picture d) product mix e) product concept

e) product concept

Tracy is currently examining which consumer groups to focus on and develop a marketing mix for: middle-class, young families, middle-class, established families, or upper-middle class, empty nesters. She is therefore engaged in making decisions relating to____________. a) niche b) market segmentation c) creating an integrated marketing program d) positioning e) target marketing

e) target marketing

________ involves a review of the sales, costs, and profit projections for a new product to determine whether they satisfy a company's objectives. a) Balance book accounting b) None of the other choices are correct c) SWOT analysis d) Concept analysis e) Business analysis

e)Business analysis