Marketing 3350 Practice exam

Marketers in the United States are paying increasing attention to ethnic groups because

Approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups

Justine offers design and consulting services 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

How different customers perceive the value of her services

During which step of the marketing planning process does a firm engage in segmentation, targeting, and positioning?

Identify and evaluate opportunities phase

Mattie is the marketing manager for a spice company. While on vacation in Brazil, she visited food stores in Rio de Janeiro. Most of her company's products were available, except for baking spices, like vanilla. When she returned to work, she mentioned this observation to her international sales manager. Mattie was providing the important marketing function of

Identifying opportunities to expand

Which of the following is critical ethical consideration for green marketers?

Sustainability

The process of value ________, in which customers collaborate in product design often provides additional value to the firm's customers

cocreation

The Child Protection Act

prohibits the sale of harmful toys and components to children.

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 whether the media fit with their advertising agenda.

Demographics

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

Differing demographic data for potential and past viewers

Introducing newly developed products or services to a market segment the company is not currently serving is called

Diversification

Approximately 80 percent of all population growth in the next 20 years is expected to come from African American, Hispanic, and Asian communities. the challenge for marketers is to determine whether a group's culture

Can be used as a relevant identifier for a particular group

In BCG portfolio analysis, products in low-growth markets that have received heavy investment and now have excess funds available to support other products are called

Cash cows

What is most likely to happen when inflation increases?

Consumers buy lower priced foods

Cookie Cutter, a firm that manufactures high-end mixers, donates $10 per mixer sold to a local food bank. This is a form of

Corporate social Responsibility

Which of the following is likely to provide a sustainable competitive advantage?

Creating an efficient supply chain that lowers your costs

The shared meanings, beliefs, morals, values, and customs of a group of people constitute their

Culture

Eugene uses a database software system to remind him when his customers should be ready for their next lawn and/or garden service. With this reminder system, Eugene contacts his customers when they are most likely to be "in the buying mode." Eugene's system is part of

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

Customer relationship management

How might Starbucks ensure that it behaves in a socially responsible way toward members of its supply chain?

It can purchase coffee beans from suppliers who pay coffee growers a fair price

A ____________ growth strategy that employs the existing marketing offering to reach new market segments

Market Development

To determine how attractive a particular market is using the BCG portfolio analysis, ________ is(are) established as the vertical axis

Market growth rate

Marvel has increased its market penetration by expanding the distribution of its films. Marvel movies can be seen in theaters, accessed on Xfinity, and viewed on DVDs available in discount stores, grocery stores, and a host of other stores, including book and comic stores. This is an example of a ________ growth strategy.

Market penetration

_________ involves the process of defining the marketing mix variable so that the target customers have a clear, distinctive, desirable understanding of what the product does or represents in comparison with competing products

Market positioning

If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, phone number, and email to participate, the radio station is

Offering an exchange

Because it was able to deliver merchandise overnight, in the required quantities and at a lower delivered cost than its competitors, Tim's Sports Shack was given exclusive rights to sell clothing with school logos for the school district. Tim's demonstrates ________ excellence

Operational

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.

Purchase behaviors

Rock-Bend Company is considering buying out a competing firm and closing most of the competitor's factories. The firm has identified the various stakeholders and their issues and gathered the available data. Everyone with an interest in the issue has engaged in brainstorming and evaluation of alternatives. Management reviewed and refined the alternatives, and then chose a course of action. If the managers are not confident about the decision, they should

Reexamine their alternatives

Darwin's company is facing a difficult ethical issue. The firm has identified the various stakeholders and their issues and gathered the available data. Everyone with an interest in the issue has engaged in brainstorming and evaluation of alternatives. Management reviewed and refined the alternatives. It should now choose the course of action that

Seems best after weighing the concerns of all stakeholders

As owner of a retail franchise food store, Elena purchases supplies based on specials advertised nationally throughout the franchise system. One Monday, she was surprised to find customers asking for specials she hadn't been informed of in advance. The franchise company failed to live up to the value-driven activity of

Sharing information across the organization

When Walmart pressured its vendors to supply it with environmentally friendly merchandise with labels to prove it, this most relates to the concept of

Sustainability

_________ provides a detailed, multipronged "Statement of Ethics" that can serve as a foundation for marketers

The American Marketing Association

Even though they operate on a limited schedule and offer a few extra services, discounts, no-frill airlines like Allegiant have been successful. Consumers obviously consider

The benefit of lower prices to be greater than the cost of reduced services and less convenience

Pietro is in the marketing department of a midsized firm that develops and sells communications systems. he is proud of the Human Resources area in the company that provides the firm with excellent employees. Pietro himself really enjoys his work, but he knows the work of HR helps create an operational advantage for the firm because of all the following except:

The company provides products with high perceived value

Marketing ethics is concerned with

The sale of products or services that may damage the environment.

What is the most basic corporate social responsibility to employees?

To ensure safe working environment

to promote greener practices nearly 60 private sector companies have partnered with the __________, which seeks to reduce the deforestation caused by the production of many consumer products that rely on palm oil, soy, tree pulp, and paper.

Tropical Forrest Alliance

During the __________ era, manufacturers and retailers recognized they needed to give their customers greater value than their competitors did.

Value-based marketing

Marketing enriches society by

creating charitable campaigns.

Alicia has been asked to approve a marketing campaign that, although it is not illegal, promotes food products to children. She is concerned that the food products are not particularly nutritious, although they are not as bad for children as some others sold by competitors. By using the ethical decision-making metric, Alicia will

evaluates the alternative using a series of questions

Effective promotion enhances a product or service's

perceived value

________ is communication by marketer that informs, persuades, and reminds potential buyers about a product or service so as to influence their opinions and elicit a response

promotion

Which of the following actions would be the most likely to support and enhance an operational excellence macro strategy?

3M Corporation implementing new software to improve communication with its suppliers

Marketers wanting to use social media to reach consumers should understand that _______ were born into a world that was already full of electronic gadgets and digital technologies such as the Internet and social networks.

Generation Z

A relational orientation is based on the philosophy that buyers and sellers develop

A long term relationship

Over the last few months, Juan and his colleagues have analyzed the current business situation and identified target markets for his firm's personal care products. Finally, they developed the products, prices, distribution, and promotion that should appeal to each of those target markets. In doing so, Juan has also identified what he believes is an advantage his competitors cannot match. Juan and his colleagues have been developing

A marketing strategy

In the ethical decision making metric, the question that asks "Would I want the person I admire most see me doing this?" applies to the

Admire observer test

Which ethnic group tends to be not only more affluent and suburban than previously thought, but also younger, with 47 percent between the ages of 18 and 49 years?

African Americans

Sanders Inc. claims that it only uses organic cleaning products in its janitorial services. In reality, the company buys whatever is cheapest in bulk. This is an example of

Greenwashing

Which of the following statements regarding corporate social responsibility is true?

Firms believe that they have legal and economic duties in addition to responsibilities to society

The Bedford County School Board is concerned about deteriorating school facilities, combined with a shrinking budget. The board began by studying the issue, and then identified parents, children, teachers, staff, and taxpayers as groups who have a vested interest in the problem. The school board has listened to each group's concerns. In the Ethical Decision-Making Framework, its next action should be to

Engaging in brainstorming alternatives