Marketing Exam 1

Companies that use brand ambassadors are participating in ________.

Buzz marketing

Sears opened up department stores in Mexico and Spain, where it found qualified local manufacturers to produce many of the products it sells. This type of joint venture is known as ________.

Contract manufacturing

Muslim countries are receptive to most Disney products, but they have asked Disney not to include Piglet when it sells its Winnie the Pooh characters because Muslims (as a part of their religious beliefs) contend that pork in any form is unclean. This is an example of a _____ factor that directly affects Disney's global operation.

Cultural

_____ factors are the environmental factors concerned with the changes in people's values, perceptions, preferences and behaviors.

Cultural

Peter Williams now has the buying power to purchase the desktop computer that he has wanted for the last six months. Greg's want now has become a(n) ________.

Demand

The _____ is an agency that prevents the use of unfair methods of competition in commerce.

Federal trade commision

Soon-Yi Park's chain of travel agencies has identified the lesbian, gay, bisexual, and transgender community as a growing market that spends an increasing percentage of its income on travel. Which of the following would be the LEAST effective component of a marketing plan for Soon-Yi to take advantage of this opportunity?

Implement a mass marketing campaign

Which of the following characterizes emerging economies?

Industrialization typically creates a new rich class and a growing middle class, both demanding new types of imported goods.

In SWOT analysis, which of the following would be considered a strength?

Internal resources

When Krispy Kreme decided to expand its operation internationally, it chose to first make its doughnuts available in Canada to minimize its risk. In accordance with the policy of risk minimization, the company sold the right to manufacture and sell its doughnuts to Canadians. In other words, Krispy Kreme used:

Licensing

A ________ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want

Market offering

Teenagers are expected to respond in a similar way to a set of marketing efforts. In other words, this group represents a ________.

Market segment

All of the following are accurate descriptions of modern marketing EXCEPT which one?

Marketing is used by for-profit and not-for-profit organizations. Marketing is managing profitable customer relationships. Marketing is the creation of value for customers. Marketing involves satisfying customers' needs. +++++Selling and advertising are synonymous with marketing.

In its stockholder's; report, PepsiCo has a _____ that states "our business is to increase the value of our shareholder's investment. We do this through sales growth, cost controls and wise investment of resources. We believe our commercial success depends upon offering quality and value to our consumers and customers; providing products that are safe, wholesome, economically efficient and environmentally sound; and providing a fair return to our investors while adhering to the highest standards of integrity.

Mission statement

What is one way that social class is NOT measured?

Number of children in the family

Omega Inc. makes lightweight sunglasses with 100-percent UV protection for people who love to hunt, hike, and ride bikes. The company's long-term plans include the development of lenses that, in addition to protecting users from UV rays, would help reduce lens spotting through effective water-sheeting methods. This new feature would be valuable to people who fish. Given the rising popularity of recreational fishing in the United States, Omega products clearly have a huge market potential. In terms of a SWOT analysis, Omega has recognized a market ________.

Opportunity

Alpha Motors offers "Green automobiles for a greener world." This refers to the ________ of Alpha automobiles.

Position

In the four Ps of the marketing mix, design, packaging, services, and variety all fall under the category of ________.

Product

Big Brother, The Weakest Link, and Who Wants to Be a Millionaire are just some of the popular television shows that have been exported to foreign markets. The formats and rules are adhered to very closely, but the television shows will vary tone, lighting, greetings, and pace just enough to captivate local audiences. This is an example of _____.

Product adaptation

A marketer of hair care products targeted at African American women created an advertising message that told the women their hair could be worn any way they wanted as opposed to wearing it straight. The message suggested the women did not need to conform to the mainstream media definition of beauty. It is most accurate to say that this ad was based on an understanding of ________.

Self-concept

Keith, a clothing store owner, offers product suggestions to customers based on their current purchases. Which of the following is Keith trying to increase?

Share of customer

Each culture contains smaller ________, or groups of people with shared value systems based on common life experiences and situations.

Subcultures

Countries with ________ economies consist mostly of households with very low family incomes.

Subsistence

Carrie tends to purchase various brands of bath soap. She has never been loyal to a specific brand; instead, she does a lot of brand switching. Carrie exhibits ________.

Variety-seeking buying behavior

A business thinking of expanding into global markets needs to examine all of the following external environments EXCEPT?

natural resources political structure and actions demographic makeup culture ++++its marketing mix