Marketing 3250 Quizzes Exam 1

Three primary methods of collecting information for environmental scanning are

Observation, secondary sources and marketing research.

Which of the following actions is illegal? a. Political officials influencing how much a government agency purchases and from whom b. Paying political officials not to enforce a particular law c. Corporate contributions to candidates d. Corporate contributions to elected officials e. Political officials helping businesses secure foreign markets

B

A targeting strategy in which an organization targets a single market segment using one marketing mix is called a(n) ____ strategy. a. selective b. concentrated c. undifferentiated d. differentiated e. focused

B concentrated

_________competitors are the most significant to marketers because buyers see the different products of these firms as direct substitutes for each other.

Brand

Special K cereal is aimed at people concerned about their weight. These people represent the Special K _______.

Target Market

Instead of addressing the question ____, many environmentalists and marketers believe the question should be ____. a. "What should we do with our waste?"; "How can we produce products without waste?" b. "How can environmentalism be profitable?"; "Where is the benefit of environmental efforts?" c. "How can we make products better?"; "How can we reduce waste?" d. "Where should we dispose of waste?"; "How can we protect society?" e. "How can we reduce costs?"; "How can we keep prices low?"

a

Services are usually provided through ____ directed at people or objects. a. the application of human or mechanical efforts b. knowledge and technology c. ideas and other intangible efforts d. tangible and intangible products e. physical labor

a

What should marketers do to promote the consistency and reliability of their services most effectively? a. Train employees and develop standard procedures for dealing with customers b. Encourage employees to be creative in solving customer issues and complaints c. Limit the number of employees in their organization d. Perform as much of the service as possible before the customer arrives e. Require employees to be shining, happy people all day long

a

Most business buying decisions are made by

a firm's buying center.

A strategic window is _____.

a temporary period of optimum fit between the key requirements of a market and the particular capabilities of a firm competing in that market.

Changes that affect the sensory appeal of a product by altering its taste, texture, sound, smell, or visual characteristics are called ____ modifications.

aesthetic

One disadvantage of test marketing a new product is that a. price, advertising, and packaging cannot be varied from market to market. b. competitors may copy the product. c. it might fail before it can be commercialized. d. the results give little indication of the product's future success. e. the product is distributed on a regional basis.

b

Service marketers make promises to customers, suggesting that the customer place some degree of trust in the service provider. In this way, service marketers are trying to address the challenge of the service characteristic of a. heterogeneity. b. intangibility. c. inseparability. d. customer contact. e. perishability.

b

After a firm has identified an appropriate targeting strategy, the next step in the target market selection process is

b. determining which segmentation variables to use.

The definition of marketing implies that ___ should receive benefits from exchange relationships.

both customers and businesses

Products are classified as being business or consumer products according to the

buyers intended use of product

A marketing ethics issue likely exists when a. a consumer is dissatisfied with a marketing decision. b. company members disagree about a marketing decision. c. an individual or organization must choose from among several actions that must be evaluated as right or wrong. d. an activity results in increased prices for the consumer. e. an activity does not benefit the organization but benefits the environment.

c

Marketers aiming at business customers, rather than at ultimate consumers, a. are restricted in the types of promotion they can use. b. have more difficulty in determining where their customers are located. c. have an enormous amount of information available concerning potential customers. d. do not need to select target markets. e. have more difficulty in estimating customers' purchase potentials.

c

Which of the following is an example of a behavioristic segmentation variable? a. Family size b. Age c. Usage rate d. Climate e. Personality characteristics

c

Quality modifications are changes that relate to a product's

dependability and durability

The depth of a product mix is measured by the average number of

different products offered in each line

The problem with using an undifferentiated strategy to market a "universal car" is that

car buyers have heterogeneous needs.

Although they become part of a larger product, ____ can often be easily identified and distinguished on the larger product.

component parts

"Is the demand strong enough?" is a question that marketers ask during the ____ phase of new-product development. a. idea generation b. test marketing c. product development d. business analysis e. concept testing

d

Consumers buying products online have dramatically affected the ____ variable of the marketing mix.

distribution

Although it may seem logical to target higher-income consumers, many marketers choose to target lower-income segments because a. lower-income consumers require fewer company resources. b. higher-income consumers represent a much larger population globally. c. higher-income consumers are harder to reach. d. lower-income consumers represent a much larger population globally. e. higher-income consumers require more company resources.

d

Many services base their success on building a group of satisfied customers who use their services on a regular basis over long periods of time. This critical component of success is referred to as a. long-term customers. b. partnerships. c. inseparable clientele. d. client-based relationships. e. repeated customer contact.

d

Problem recognition occurs when a consumer a. evaluates her or his purchase. b. is exposed to a television advertisement desired state and an actual condition. c. recognizes a need and evaluates information to resolve a problem. d. becomes aware that there is a difference between a desired state and an actual condition. e. searches for information to resolve a problem. Hide Feedback

d

The marketing channels for services are usually a. complex and multifaceted. b. determined by the customer. c. characterized by two to three intermediaries. d. direct from provider to customer. e. dependent on the geographical location of the consumer.

d

After purchasing a product, postpurchase evaluation may result in cognitive dissonance. Cognitive dissonance is

doubts that occur because the buyer questions whether the decision to purchase the product was right.

What do environmentalists set as an objective for profitability? a. Companies will be more profitable if they work hard to protect the environment because consumers will reward their efforts through loyalty. b. Companies should surpass the strictest environmental standards even if it negatively affects profitability. c. Companies will never be profitable if they comply with environmental standards, so taxpayers must subsidize all production. d. Profitability should not be a concern when addressing issues of environmental importance. e. Environmentalism should be made profitable, and companies attempting to protect the environment should not have to compete with those harming it in the marketplace.

e

Which of the following employees is most responsible for setting the ethical tone for the entire marketing organization? a. Marketing manager b. Vice president of marketing research c. Product manager d. Marketing employee e. Chief executive officer

e

A marketing plan document usually begins with an _____.

executive summary

A physical product you can touch is a____.

good

Facilities, factories, and production lines with very large equipment are all classified as

installations

An organization's business goals should be derived from its____.

mission statement

Most business purchases can be classified as belonging to one of three types:

modified rebuy, new-task, or straight rebuy.

When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its products from the competitors' products, a(n) ____ structure exists in the competitive environment.

monopolistic competition

During the introduction stage of a successful product, profits are usually

negative and increasing

An expected level of performance against which actual performance can be compared is a _______

performance standard

The Boston Consulting Group's matrix is based on the_____

philosophy that a product's market growth rate and its market share are important determinants of its marketing strategy.

The element of the marketing mix used to increase awareness of a product or company is_____.

promotion

The two least common competitive structures are

pure competition and monopolies

Individuals and business organizations that buy finished goods and resell them to make a profit without changing the physical characteristics of the product are classified as ____ markets.

reseller

The most significant factor influencing a buyer's level of involvement is

risk

Marketers help consumers learn through free samples, sometimes coupled with coupons, to reduce purchase risk, through a practice called

shaping

Thoughts about who is around when the product is purchased relate to which of the following situational influences?

social surroundings

An organization that decides to buy all of a certain part from the same company is using

sole sourcing

Companies that are considered to be good corporate citizens and consider the diverse perspectives of different groups affected by their operations are said to have a ____ orientation.

stakeholder