Marketing Exam 1 (BMGT 350) Quizzes & Warmups

To be​ successful, why should companies try to adopt a proactive stance on​ marketing? A. A proactive stance allows a company to take advantage of opportunities as they arise. B. A proactive stance allows a company to compete with its competitors on pricing alone. C. A proactive stance ensures that a company will increase its market share. D. A proactive stance allows a company to compete with its competitors on quality alone. E. A proactive stance allows a company to let the market determine prices for its products.

A. A proactive stance allows a company to take advantage of opportunities as they arise.

What are the five stages of the consumer adoption​ process, in the correct​ sequence? A. Awareness, interest,​ evaluation, trial, and adoption B. Awareness, evaluation,​ interest, trial, and adoption C. Awareness, trial,​ evaluation, interest, and adoption D. Awareness, trial,​ interest, evaluation, and adoption E. Awareness, interest,​ trial, evaluation, and adoption

A. Awareness, interest,​ evaluation, trial, and adoption

What is the mistaken assumption that​ business-to-business companies often make about digital and social​ media? A. That digital and social media are useful primarily to consumer products and services companies B. That digital and social media require teams of specialists C. That digital and social media are only effective with large expenditures D. That digital and social media choices are confined to Twitter and Facebook E. That digital and social media yield little except for brand awareness

A. That digital and social media are useful primarily to consumer products and services companies

What is MOST likely to cause a variation in​ customer-perceived value? A. The​ customer's opinion of what constitutes value B. The cost to produce a product C. The cost of advertising to the target market D. The​ customer's satisfaction with a product E. The popularity of a product to the customer

A. The​ customer's opinion of what constitutes value

Like consumer​ markets, business markets are segmented. Which of the following describes the variables that marketers use to segment business​ markets? A. Operating​ characteristics, purchasing​ approaches, situational​ factors, and demographics B. Operating​ characteristics, purchasing​ approaches, situational​ factors, usage​ rate, and demographics C. Operating​ characteristics, purchasing​ approaches, situational​ factors, and geographic variables D. Business​ demographics, operating​ characteristics, purchasing​ approaches, situational​ factors, and personal characteristics E. Operating​ characteristics, purchasing​ approaches, situational​ factors, and pricing

D. Business​ demographics, operating​ characteristics, purchasing​ approaches, situational​ factors, and personal characteristics

Which of the following refers to the degree to which an innovation fits the values and experiences of potential​ consumers? A. Communicability B. Divisibility C. Complexity D. Compatibility E. Relative advantage

D. Compatibility

To target the best market​ segments, the company first evaluates various factors related to market attractiveness. Of the​ following, which is NOT one of those​ factors? A. Evaluation of each​ segment's structural attractiveness B. Evaluation of each​ segment's growth characteristics C. Compatibility with company objectives and resources. D. Compatibility with company mission and vision E. Evaluation of each​ segment's size characteristics

D. Compatibility with company mission and vision

In which targeting strategy does a firm go after a large share of one or a few smaller​ segments? A. Mass marketing B. Differentiated marketing C. Undifferentiated marketing D. Concentrated marketing E. Micromarketing

D. Concentrated marketing

What is market​ segmentation? A. Marketing to a mass market of homogeneous buyers B. Arranging for a market offering to occupy a​ clear, distinctive, and desirable place relative to competing products in the minds of target consumers C. Differentiating the​ firm's market offering to create superior customer value D. Dividing a market into distinct groups of buyers who have different​ needs, characteristics, or behaviors and who might require separate marketing strategies or mixes E. Evaluating each market​ segment's attractiveness and selecting one or more market segments to enter

D. Dividing a market into distinct groups of buyers who have different​ needs, characteristics, or behaviors and who might require separate marketing strategies or mixes

There are several types of objectives market researchers might use in a marketing research project. Which of the following are the primary types of​ objectives? A. Exploratory​ research, secondary​ research, and primary research B. Descriptive​ research, survey​ research, and causal research C. Demographic​ research, exploratory​ research, and attitudinal research D. Exploratory​ research, descriptive​ research, and causal research E. Exploratory​ research, descriptive​ research, and survey research

D. Exploratory​ research, descriptive​ research, and causal research

In analyzing a​ company's current business​ portfolio, what is​ management's first​ step? A. Determine the​ company's goals B. Perform a SWOT analysis C. Outline the​ company's mission statement D. Identify strategic business units E. Determine the​ company's target market

D. Identify strategic business units

Which of the following statements regarding the business market is​ correct? A. Business buying decisions are less complex than consumer buying decisions. B. The business market is not as large as the consumer market in terms of dollars spent and items purchased. C. In the business market buying​ process, buyers and sellers are less dependent on each other than in the consumer market. D. Many sets of business purchases are made for one set of consumer purchases. E. The business market has more buyers than the consumer market.

D. Many sets of business purchases are made for one set of consumer purchases.

A marketing dashboard is used to do which of the​ following? A. Determine the financial cost of developing a product B. Analyze the new product lines being developed C. Promote a product to a target group D. Monitor strategic marketing performance E. Develop a course of action to market a product

D. Monitor strategic marketing performance

How do market demands relate to needs and​ wants? A. Demands result in customers needing and wanting a particular product. B. Wants and demands are​ equivalent, and both satisfy needs at the same rate. C. Needs and wants outweigh demands in the​ customer's mind. D. Needs are satisfied by​ wants, and buying power converts wants into demand. E. Needs, wants, and demands all describe the same state in the customer.

D. Needs are satisfied by​ wants, and buying power converts wants into demand.

Amazon is now promising​ same-day pick-up of goods as well as local secure​ pick-up points. What point of differentiation is​ this? A. People differentiation B. Product differentiation C. Image differentiation D. Services differentiation E. Channel differentiation

D. Services differentiation

The focus of which of the following processes not only sets the stage for planning in the​ firm, but also represents the maintenance and development of the​ organization's goals and capabilities and its changing marketing​ opportunities? A. Research and development planning B. Marketing planning C. Long-range planning D. Strategic planning E. Annual planning

D. Strategic planning

What are the two keys to building lasting customer​ relationships? A. Value and customer service B. Satisfaction and sales promotions C. Customer service and quality products D. Superior customer value and satisfaction E. Innovative products and low prices

D. Superior customer value and satisfaction

Which marketing management orientation holds that a firm should have a customer focus to achieve sales and​ profits? A. The societal marketing concept B. The selling concept C. The product concept D. The marketing concept E. The production concept

D. The marketing concept

______________________ determines if a buyer is satisfied or dissatisfied with a purchase. A. The number of alternatives considered in the purchase decision B. The amount of information gathered in the​ decision-making process C. How others feel about the purchase D. The relationship between the​ consumer's expectations and the​ product's perceived performance E. Whether or not the buyer experiences cognitive dissonance

D. The relationship between the​ consumer's expectations and the​ product's perceived performance

What is the main problem that sellers suffering from marketing myopia​ face? A. They focus more on the​ customer's experience than on the product itself. B. They focus on customer wants instead of demands. C. They focus on brand image to the detriment of quality. D. They focus more on products than on the​ customer's underlying need. E. They focus more on profit than on the​ customer's benefit.

D. They focus more on products than on the​ customer's underlying need.

The key to learn about and engage with individual customers is to blend the new digital technologies and approaches with traditional marketing to create​ _______________________. A. customer-focused digital applications B. promotions with wide customer appeal C. superior social​ media, mobile​ apps, and television advertising D. a smoothly integrated marketing strategy and mix E. comprehensive marketing plans

D. a smoothly integrated marketing strategy and mix

The real value of marketing information rests in the​ _____________________. A. support of a​ company's marketing research B. marketing intelligence it uncovers C. social media data it uses D. customer insights it provides E. amount of big data it analyzes

D. customer insights it provides

Technology advances have made​ B-to-B online purchasing possible. This is called​ ________. A. web-based submissions of proposals B. e-shipping options C. online bidding D. e-procurement E. automated requests for proposals

D. e-procurement

A​ company's marketing information system​ (MIS) is valuable because it​ ___________________. A. increases the likelihood that a customer will buy a product B. maintains the​ company's internal database of customers C. allows a company to outperform its competitors in the marketplace D. enables a company to use customer insights to improve relationships with customers E. ensures that the company will have good customer service

D. enables a company to use customer insights to improve relationships with customers

Which stage of the business buying decision process involves ranking the importance of​ reliability, durability, and​ price? A. supplier search B. supplier selection C. product specification D. general need description E. proposal solicitation

D. general need description

The type of segmentation that forms segments of consumers who have similar needs and buying behaviors even though they are located in different countries is known as​ _________. A. behavioral segmentation B. lifestyle segmentation C. geographic segmentation D. intermarket segmentation E. demographic segmentation

D. intermarket segmentation

The type of segment characteristic in which the​ size, purchasing​ power, and profiles of the segments can be quantified is known as​ _______________________ A. accessible B. actionable C. substantial D. measurable E. differentiable

D. measurable

Mi Rancho Supermarkets is a chain grocer that locates stores in neighborhoods with large Hispanic populations. Their stores carry a greater selection of Hispanic and Latin foods. The type of marketing that Mi Rancho uses is an example of​ ________. A. undifferentiated marketing B. concentrated marketing C. differentiated marketing D. micromarketing E. target marketing

D. micromarketing

Companies need meaningful customer insights so they can​ _____________________________. A. build larger market share B. build databases that prove useful to marketers C. gain a competitive advantage D. produce superior value for their customers E. realize better bottom lines

D. produce superior value for their customers

Dividing buyers into groups based on social​ class, lifestyle, or personality characteristics is called​ ________ segmentation. A. age and​ life-cycle B. geographic C. behavioral D. psychographic E. user status

D. psychographic

According to the​ text, __________ are perhaps the most dramatic forces affecting​ today's marketing strategies. A. political forces B. demographic forces C. economic forces D. technological forces E. natural forces

D. technological forces

Marketing provides a guiding philosophy for a​ company's strategic planning. This​ philosophy, known as​ __________, focuses on creating customer value and building profitable relationships with important consumer groups. A. customer relationship management B. partner relationship management C. value chain management D. the marketing concept E. the value network

D. the marketing concept

When marketers aggressively promote only one benefit to the target​ market, the benefit promoted is known as the product or​ service's _____________________. A. unique product proposition B. unique benefit proposition C. unique position proposition D. unique selling proposition E. unique difference proposition

D. unique selling proposition

To create value for​ customers, marketers must improve the performance of the​ ______________, which includes partnering with​ suppliers, distributors, and customers. A. strategic plan B. internal value chain C. competitive delivery network D. value delivery network E. marketing system

D. value delivery network

The​ ________________________ is a​ brand's full positioning or the full mix of benefits on which the brand is positioned. A. brand's personality and voice B. target marketing strategy C. positioning map D. value proposition E. differentiation strategy

D. value proposition

To exercise social​ responsibility, many companies are linking themselves to what type of​ marketing? A. Environmental B. Technological C. Intermediaries D. Generational E. Cause-related

E. Cause-related

Which of the five characteristics identified has an inverse relationship with an​ innovation's rate of​ adoption, meaning as this characteristic​ increases, the rate of adoption is​ slower? A. Compatibility B. Divisibility C. Communicability D. Relative advantage E. Complexity

E. Complexity

The website leftyslefthand.com markets products to​ left-handed consumers only. Which targeting strategy does this​ represent? A. Micromarketing B. Undifferentiated marketing C. Segmented marketing D. Differentiated marketing E. Concentrated marketing

E. Concentrated marketing

Nguyen's Sporting Goods is having difficulty obtaining the credit it needs to expand. What should the company do in order to alleviate its financial​ situation? A. Find a new physical distribution firm B. Analyze the finances of one of its competitors C. Reexamine its relationship with its resellers D. Devise a marketing plan with a marketing service agency E. Work out a plan with its financial intermediaries

E. Work out a plan with its financial intermediaries

Changes in the​ _____________________ have focused greater emphasis on ethics and socially responsible actions. A. technological environment B. demographic environment C. cultural environment D. economic environment E. political and social environment

E. political and social environment

Firms that develop strategies to change the​ environment, instead of assuming that strategic options are bounded by the current​ environment, are being​ _______. A. shortsighted B. cautious C. passive D. reactive E. proactive

E. proactive

The major cultural values of a society are expressed by​ people's views of​ ____________________. A. organizations and themselves B. themselves, nature, and society C. the​ universe, society, and themselves D. society, organizations, and nature E. themselves, others,​ organizations, society,​ nature, and the universe

E. themselves, others,​ organizations, society,​ nature, and the universe

Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six​ years, sales have continuously declined and profits have almost completely disappeared. The owner of​ Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to​ Tina's Tunes? A. Tina's Tunes is likely to fail because it is ignoring the technological environment. B. Tina's Tunes is likely to fail because it is ignoring the natural environment. C. Tina's tunes are likely to prosper as mistrust in the digital age increases. D. Tina's Tunes will experience a rebound as the fear of the Great Recession declines. E. Tina's Tunes is likely to fail because it is ignoring the current political environment.

A. Tina's Tunes is likely to fail because it is ignoring the technological environment.

Why is good marketing management​ critical? A. To ensure that the company serves as many customers as it can and as well as it can B. To ensure that the company is always on the cutting edge of product development C. To ensure that investments are properly spent in order to maximize profits D. To ensure that the company has a positive image in the eyes of the community E. To ensure that products are promoted well enough to encourage a large flow of customers

A. To ensure that the company serves as many customers as it can and as well as it can

Why is it important for a company to collect both primary and secondary data when conducting marketing​ research? A. To have a​ "full picture" of the subject of its study B. To avoid complaints that the study is not reliable C. To ensure the data is usable D. To keep costs down E. To guarantee the product being researched will be successful

A. To have a​ "full picture" of the subject of its study

Marketing information is of no value until it is used for what​ purpose? A. To make better marketing decisions B. To perform marketing research C. To obtain marketing metrics D. To better practice customer relationship management E. To build a better bottom line

A. To make better marketing decisions

_________ refers to the practice of integrating ethnic themes and​ cross-cultural practices within a​ company's mainstream marketing. A. Total market strategy B. Buzz marketing C. Viral marketing D. Cause marketing E. Guerilla marketing

A. Total market strategy

Which of the following correctly describes customer​ purchases, sales force​ contacts, service and support​ calls, web and social media site​ visits, satisfaction​ surveys, credit and payment​ interactions, and market research​ studies? A. Touch points B. Service calls C. Purchases D. Satisfaction surveys E. Sales calls

A. Touch points

A new hardware company is writing its mission statement. Which of the following is the BEST mission statement possible for the new​ company? A. We will help customers​ build, invigorate,​ restore, refurbish, or completely redesign their homes or businesses. B. We will have​ $2 million in profit by the end of our second fiscal year and twice that amount by the end of year five. C. We will be the best hardware company in the world. No other company will ever outsell us. D. We are providers of​ hardware, lumber-based, and appliance products to be used for home improvement and commercial construction projects. E. We embrace the deeper meaning of home and commercial improvements.

A. We will help customers​ build, invigorate,​ restore, refurbish, or completely redesign their homes or businesses.

Once market segments have been​ selected, the company then must decide on​ _____________________________. A. differentiation and positioning strategy B. positioning map C. mission and vision D. unique value proposition E. target market strategies

A. differentiation and positioning strategy

When marketers want to promote their products and services through​ word-of-mouth marketing​ programs, they typically begin by​ ________. A. generating​ person-to-person brand conversations B. developing print and radio advertisements C. identifying and targeting late adopters D. withdrawing from online social networks E. pushing​ one-way commercials at customers

A. generating​ person-to-person brand conversations

After creating a​ company's mission and​ objectives, the executive team must then plan​ ____________ by keeping in mind the best fit for its​ strengths, weaknesses, and opportunities in the environment. A. its business portfolio B. its overall growth strategy C. individual department objectives D. its research and development efforts E. revenue goals and objectives

A. its business portfolio

Software and analytical techniques that​ integrate, analyze, and apply the mountains of individual customer data to gain a​ 360-degree view of customers enable companies to​ ________________________. A. practice customer relationship management B. develop large customer datasets C. perform market research D. find new customers E. get to know their customers personally

A. practice customer relationship management

The third purpose of government regulation is to​ _____________________. A. protect the interests of society against unrestrained business practices B. regulate and constrain companies C. protect consumers from unfair international trade D. punish companies for unlawful behavior E. protect companies from each other

A. protect the interests of society against unrestrained business practices

The marketing manager at Only Organic Delicatessen targets customers who are focused on​ organic, healthy food choices but who still want to dine out. The restaurant chain offers a wide variety of​ organic, low-fat, locally raised produce and foods. Only​ Organic's approach is best referred to as​ ________ segmentation. A. psychographic B. benefit C. age and​ life-cycle D. geographic E. user status

A. psychographic

A company rarely gets 100 percent of a​ customer's purchases for a product category. The share it does get of the​ customer's purchasing in its product categories is called​ ________. A. share of customer B. customer equity C. customer lifetime value D. customer defections E. share of market

A. share of customer

The act of obtaining a desired object from someone by offering something in return is known as which of the​ following? A. An auction B. An exchange C. A trade D. A barter E. A sale

B. An exchange

Which of the following describes the process of dividing markets into groups based on​ consumers' knowledge,​ attitudes, uses, or​ responses? A. Geographic segmentation B. Behavioral segmentation C. Economic segmentation D. Demographic segmentation E. Psychographic segmentation

B. Behavioral segmentation

Which types of companies would most benefit from conducting marketing​ research? A. Neither large multinational firms like Disney and IBM nor small local firms B. Both large multinational firms like Disney and IBM and small local firms C. Only​ medium-sized companies that are about half the size of Disney and IBM D. Only large multinational firms like Disney and IBM E. Only small local​ firms, like​ Beatrice's Bistro

B. Both large multinational firms like Disney and IBM and small local firms

Which of the following is NOT among the major factors influencing consumer buying​ behavior? A. Psychological B. Commercial C. Cultural D. Social E. Personal

B. Commercial

Which of the following is NOT one of the components of a​ company's microenvironment? A. Suppliers B. Cultural forces C. Competitors D. Marketing intermediaries E. Customer markets

B. Cultural forces

What is the nature of demand in business​ markets? A. Business market demand is independent of consumer market demand. B. Demand in business markets is derived demand. C. Demand in business markets is elastic. D. Demand in business markets fluctuates less than in consumer markets. E. Demand in business markets does not fluctuate.

B. Demand in business markets is derived demand.

What are stars in the​ growth-share matrix? A. The​ growth-share matrix does not contain stars. B. High-growth, high-share businesses or products C. Low-share, high-growth businesses or products D. Low-growth, low-share businesses and products E. Low-growth, high-share businesses or products

B. High-growth, high-share businesses or products

Which of the following correctly defines the consumer​ market? A. Retailers who sell goods and services to consumers B. Individuals and households that buy goods and services for personal consumption C. Manufacturers, retailers, and consumers D. Any business that sells goods and services to other businesses E. Individuals who spend more than​ $1,000 a year on purchases

B. Individuals and households that buy goods and services for personal consumption

Of the​ following, which best reflects how the American population has changed over​ time? A. It has become​ wealthier, more​ cultured, and more frivolous in its spending habits. B. It has become more​ diverse, better​ educated, and more mobile. C. It has become closer knit and more​ family-oriented. D. It has become more likely to develop brand loyalty. E. It has become more skeptical about marketing schemes.

B. It has become more​ diverse, better​ educated, and more mobile.

All of the following are aspects of sustainable marketing EXCEPT which​ one? A. Deliver value in a socially and environmentally responsible way. B. Observe environmental legislation as it is instituted. C. Practice caring capitalism by being​ civic-minded and responsible. D. Seek ways to profit by serving the​ long-run interests of customers and communities. E. Help protect the natural environment.

B. Observe environmental legislation as it is instituted.

Which of the following information must a researcher evaluate to make certain it is​ relevant, accurate, and​ impartial? A. Primary information B. Secondary information C. Survey information D. Big data analytical information E. Focus group information

B. Secondary information

There have been dramatic changes in the political environment that affect marketing. Which of the following does NOT represent one of those​ changes? A. Increasing legislation regulating business B. Strong emphasis on free trade and open borders C. Greater emphasis on ethics D. Greater emphasis on social responsibility E. Strong government agency enforcement

B. Strong emphasis on free trade and open borders

​___________________ consists of many different people who play multiple roles in the buying process. A. The buying nucleus B. The buying center C. Buying actors D. The purchasing team E. Buying agents

B. The buying center

Which of the following is NOT true regarding international marketing​ research? A. Good secondary data is scarce. B. The cost of international research is lower. C. Cultural differences from country to country cause additional problems. D. Obtaining primary data may be difficult. E. Translating questionnaires from one language into another is not an easy task.

B. The cost of international research is lower.

How has the internet MOST affected companies and​ customers? A. The internet has made advertising easier. B. The internet has allowed consumers to take marketing content and share it. C. The internet has lowered prices. D. The internet has made creating an image more important. E. The internet has increased the potential customer base.

B. The internet has allowed consumers to take marketing content and share it.

How does the microenvironment of a company differ from its​ macroenvironment? A. The microenvironment deals with the big​ problems, whereas the macroenvironment deals with trivial problems. B. The microenvironment deals with the​ company, suppliers, marketing​ intermediaries, customer​ markets, competitors, and publics. C. The microenvironment uses more financial resources than the macroenvironment. D. The microenvironment is​ company-based, whereas the macroenvironment is​ customer-based. E. The microenvironment affects a larger portion of the company than the macroenvironment.

B. The microenvironment deals with the​ company, suppliers, marketing​ intermediaries, customer​ markets, competitors, and publics.

​__________________ determines whether the buyer is satisfied or dissatisfied with a purchase. A. The relationship between the price of the product and the level of customer service provided B. The relationship between the​ consumer's expectations and the​ product's perceived performance C. The relationship between the​ consumer's expectations and how others evaluate the product D. The relationship between the​ consumer's expectations and where the product was purchased E. The relationship between the price of the product and the​ product's perceived performance

B. The relationship between the​ consumer's expectations and the​ product's perceived performance

What is the purpose of the marketing mix as part of the overall marketing​ strategy? A. To maximize the​ company's profits through successful marketing and sales of a particular product B. To produce a response that influences a demand for the product from the customers the company is targeting C. To streamline a​ company's research,​ marketing, production, and sales of a particular product D. To create an overall positive image in the​ customer's mind that is favorably associated with the company E. To compare some or all of the​ company's products with the products of the​ company's competitors

B. To produce a response that influences a demand for the product from the customers the company is targeting

To design a winning marketing​ strategy, what are the two important questions a marketing manager must​ answer? A. Who are our​ competitors? How can we beat our​ competitors? B. What customers will we​ serve? How can we serve these customers​ best? C. What customers will we​ serve? How can we maximize​ profits? D. What markets should we​ enter? How do we maximize sales in those​ markets? E. How can we serve our customers​ best? How can we maximize​ profits?

B. What customers will we​ serve? How can we serve these customers​ best?

When a company starts the strategic planning process at the corporate​ level, it begins by​ _____________________________. A. creating research and development plans B. defining its overall purpose and mission C. defining its revenue objectives D. setting growth strategy goals E. formulating product innovation objectives

B. defining its overall purpose and mission

​H2Coast, an automobile​ manufacturer, produces​ fuel-efficient hybrid vehicles that are targeted toward​ high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on​ ________ variables. A. behavioral B. psychographic C. geographic D. universal E. demographic

B. psychographic

The first step of the marketing process is to​ ___________________. A. construct an integrated marketing program that delivers superior value B. understand the​ marketplace, which includes customer needs and wants C. design a​ customer-driven marketing strategy D. capture value from customers to create profits and customer equity E. build profitable relationships

B. understand the​ marketplace, which includes customer needs and wants

What are the five marketing management functions used to manage the marketing​ process? A. Writing an executive​ summary, conducting a situation​ analysis, planning, setting​ budgets, and outlining controls B. Segmenting, targeting,​ positioning, differentiation, and control C. Analysis, planning,​ implementation, organization, and control D. Planning, segmenting,​ targeting, positioning, and implementing E. Product​ development, pricing, customer​ service, promotion, and cost control

C. Analysis, planning,​ implementation, organization, and control

​Calvin's Cupcakes is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST path for this company to start to develop an efficient​ MIS? A. Analyze the information gathered in market research B. Distribute necessary information to the marketing team C. Assess the information needs of the company D. Determine how to use the information gathered by market research E. Conduct surveys or focus groups to gather information

C. Assess the information needs of the company

Which of the following enhances how marketers learn about and interact with​ customers? A. New digital devices B. Machine learning C. Big data and marketing analytics D. Big data and social media E. Social media analytics

C. Big data and marketing analytics

Which of the following is enhancing how marketers learn about and interact with​ customers? A. Social media analytics B. Machine learning C. Big data and marketing analytics D. Big data and social media E. New digital devices

C. Big data and marketing analytics

Which of the following is NOT one of the forces in a​ company's macroenvironment that shape opportunities and pose threats to the​ company? A. Cultural forces B. Demographic forces C. Competitive forces D. Technological forces E. Economic forces

C. Competitive forces

Which of the following is likely to slow the adoption of a new​ technology? A. Communicability B. Compatibility C. Conceptual complexity D. Divisibility E. Relative advantage

C. Conceptual complexity

Bertram's Beer structures its company in such a way as to encourage its most profitable older customers to remain loyal while also targeting a new generation of customers. What is​ Bertram's Beer attempting to​ build? A. Customer lifetime value B. Share of customer C. Customer equity D. Partner relationships E. Customer loyalty

C. Customer equity

Major variables used to segment consumer markets include which of the​ following? A. Income, gender,​ age, and ethnicity B. Ethnicity, geographic,​ gender, and income C. Geographic, demographic,​ psychographic, and behavioral D. Geographic, demographic,​ psychographic, and psychological E. Income, age,​ geographic, and lifestyle

C. Geographic, demographic,​ psychographic, and behavioral

The​ Ritz-Carlton has carefully created a strong and distinctive differentiation​ strategy, which is supported by everything the company​ says, is, and does. Which type of differentiation is​ this? A. Channel differentiation B. Product differentiation C. Image differentiation D. Services differentiation E. People differentiation

C. Image differentiation

Which of the following statements regarding the business market is​ correct? A. The business market has more businesses than the consumer market. B. Business buying decisions are less complex than consumer buying decisions. C. Many sets of business purchases are made for one set of consumer purchases. D. Demand in the business market is more elastic than demand in the consumer market. E. The business market is not as large as the consumer market in terms of dollars spent and items purchased.

C. Many sets of business purchases are made for one set of consumer purchases.

​________ is the process of dividing a market into distinct groups of buyers who have different​ needs, characteristics, or​ behaviors, and who might require separate marketing strategies or mixes. A. Positioning B. Marketing strategy C. Market segmentation D. Differentiation E. Market targeting

C. Market segmentation

The​ product/market expansion grid is a tool that allows marketers to identify growth opportunities. Of the​ following, which represent the four components of the​ product/market expansion​ grid? A. Global​ expansion, domestic​ expansion, customer​ expansion, and product expansion B. Product​ penetration, product​ development, diversification, and global expansion C. Market​ penetration, market​ development, product​ development, and diversification D. Product​ development, diversification, domestic​ expansion, and global expansion E. Product​ growth, market​ growth, customer​ growth, and profitable growth

C. Market​ penetration, market​ development, product​ development, and diversification

What is the first step of the buyer decision​ process? A. Information search B. Alternative evaluation C. Need recognition D. Purchase decision E. Post-purchase behavior

C. Need recognition

Sanchez Hispanic Foods and Seasonings has started to grow larger than the Sanchez family could ever have imagined. The company is having a hard time keeping track of all of the​ business' marketing activities. They know that they are going to need help to keep the business growing and are looking for solutions. Which of the following potential hires is likely the best decision for the Sanchez​ family? A. Karin​ Petersen, an operations specialist who would be hired as the new chief operating officer B. Jose​ Gonzalez, one of the Sanchez​ family's best friends and a fellow entrepreneur who would come on as an additional chief executive officer C. Noah​ Lopez, a marketing specialist and expert who would be hired as the Sanchez​ family's new chief marketing officer D. Craig​ Moore, an extremely successful entrepreneur who is actually looking to acquire the company and grow the business exponentially E. Claudia​ Jimenez, a​ well-educated accountant who would begin working as the new chief financial officer

C. Noah​ Lopez, a marketing specialist and expert who would be hired as the Sanchez​ family's new chief marketing officer

​Beverly's Burgers came under fire recently when allegations were made that its veggie burgers were actually made with beef. To counter the​ claims, the restaurant called in a company to test not only its veggie​ burgers, but also the rest of its vegetarian options to prove they lacked meat. The results were displayed publicly on the​ restaurant's Facebook page. What BEST describes​ Beverly's Burgers' response to the​ allegations? A. Passive B. Steadfast C. Proactive D. Determinative E. Reactive

C. Proactive

In the broadest​ sense, a new product marketer must research​ _____________________ when developing a new product and a marketing program. A. characteristics of international markets B. various domestic promotional challenges C. characteristics influencing the rate of adoption D. attitudes of consumers toward packaging E. characteristics related to pricing acceptability

C. characteristics influencing the rate of adoption

The environment that consists of institutions and forces that affect a​ society's values,​ perceptions, preferences, and behaviors is the​ ________________________. A. demographic environment B. technological environment C. cultural environment D. economic environment E. political and social environment

C. cultural environment

Heeltoe, a boutique that caters to the footwear needs of​ women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of​ affluent, middle-aged​ women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on​ ________ variables. A. psychographic B. behavioral C. demographic D. geographic E. universal

C. demographic

You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In​ exchange, you receive a small payment. You are participating in​ a(n) ________. A. ethnographic study B. individual interview C. focus group D. immersion group E. experiment

C. focus group

Two major public policy and ethical issues in marketing research are​ ________. A. the use of research to create deceptive advertising B. intrusions on consumer privacy and inaccurate data analysis C. intrusions on consumer privacy and misuse of research findings D. paying research respondents and intrusions on consumer privacy E. misuse of research findings and improper sampling procedures

C. intrusions on consumer privacy and misuse of research findings

When consumers respond in a similar way to a given set of marketing​ efforts, they can be referred to as a​ _________. A. target market B. differentiation C. market segment D. market E. value chain

C. market segment

Dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies is known as​ ______________________. A. market targeting B. differentiation C. market segmenting D. mass marketing E. positioning

C. market segmenting

A​ __________________________ consists of the people and procedures dedicated to assessing information​ needs, developing the needed​ information, and helping decision makers use the information to generate and validate actionable customer and market insights. A. marketing consulting team B. marketing technology system C. marketing information system D. marketing research department E. marketing analytic system

C. marketing information system

A manufacturer of​ half-ton pickup trucks creates a positioning map for the U.S.​ half-ton pickup market. The position of each circle on the map indicates the​ brand's perceived positioning on two​ dimensions: price and orientation​ (economy versus​ performance). The size of each circle indicates the​ brand's relative market share. This is an example of a​ ________________. A. competitive map B. competitively positioned map C. perceptual positioning map D. target segment map E. psychographic map

C. perceptual positioning map

If competitors cannot easily copy the benefit a company chooses to​ promote, that benefit is said to be​ _________. A. profitable B. distinctive C. preemptive D. superior E. affordable

C. preemptive

A purse​ company's ads feature the members of a popular housewives reality show. Product sales increase significantly among fans. From​ fans' viewpoint, the housewives reality show is a​ ______________. A. lagging adopter B. late-majority adopter C. reference group D. family group E. membership group

C. reference group

A SWOT is a part of which marketing management​ function? A. Planning B. Implementation C. Control D. Analysis E. Organization

D. Analysis

Which of the following correctly identifies the five core customer and marketplace​ concepts? A. Needs, wants,​ demands, market​ offerings, and markets B. Needs, wants, and​ demands; market​ offerings; value;​ satisfaction; and markets C. Needs, wants, and​ demands; products;​ value; customers; and competitors D. Needs, wants, and​ demands; market​ offerings; value and​ satisfaction; competitors; and profits ​E. Needs, wants, and​ demands; market​ offerings; value and​ satisfaction; exchanges and​ relationships; and markets

​E. Needs, wants, and​ demands; market​ offerings; value and​ satisfaction; exchanges and​ relationships; and markets

A power tool company wants to give its customers access to​ internal, nonpublic information about how best to use its product in creative ways. What should the company create to provide customers with this​ information? A. A company extranet B. A company website C. A company intranet D. A data warehouse E. A company data mine

A. A company extranet

Proactive businesses often take aggressive actions to affect consumers and the forces in their marketing environments. Which of the following does NOT depict a proactive​ company? A. A local restaurant refusing to counter false allegations of salmonella B. A jewelry company taking advantage of the new trend of charm bracelets C. A dairy creating new flavors of organic yogurt in response to a trend toward healthy eating D. A utility company hiring lobbyists to influence legislation regarding climate change E. A small family winery offering a broader selection of red wines in response to a growing preference for red wines

A. A local restaurant refusing to counter false allegations of salmonella

How do the individual components of a SWOT analysis work together to determine the status of a​ company? A. By ascertaining a​ company's strengths, relating them to​ opportunities, minimizing​ weaknesses, and identifying threats to growth and development B. By developing a marketing strategy that promotes a​ company's highest-selling products in such a way that there is a measurable return on the​ company's investment C. By creating a niche in a market that can be exploited by a company to gain the greatest profits D. By streamlining a​ company's core processes so that all of the​ company's operations flow smoothly and contribute to the development and sale of its products E. By developing a course of action that best determines a core​ market, the proper product to give the core​ market, and how to do so at an affordable price

A. By ascertaining a​ company's strengths, relating them to​ opportunities, minimizing​ weaknesses, and identifying threats to growth and development

Which of the following is included in a broad definition of​ marketing? A. Creating customer​ value, building customer​ relationships, and engaging customers B. Advertising, selling, and developing quality products C. Selling, advertising, and promoting D. Satisfying​ customers, beating​ competitors, and maximizing profits E. Creating customer​ value, building customer​ relationships, and having a strong selling orientation

A. Creating customer​ value, building customer​ relationships, and engaging customers

​______________________ is part of a​ company's decision on how it will create market offerings to deliver superior customer value. A. Differentiation B. Undifferentiated marketing C. Market segmentation D. Mass marketing E. Market targeting

A. Differentiation

​__________________ is a group numbering 55 million or more consumers and sometimes is an overlooked​ "in-between" consumer group because it is both smaller and less materialistic than other groups and prizes​ experience, not acquisition. A. Generation X B. Baby boomers C. Senior citizens D. Generation Z E. Echo boomers

A. Generation X

The role of a​ company's marketing intermediaries is to do which of the​ following? A. Help the company​ find, promote,​ sell, and distribute products B. Provide the resources needed by the company to produce goods and services C. Determine which products a company should market D. Manage the​ company's human resources efforts E. Purchase the​ company's product

A. Help the company​ find, promote,​ sell, and distribute products

An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO MOST likely to do as a function of his or her​ job? A. Inform customers of the​ company's privacy policy B. Track the clicks of customers on websites C. Compile an exhaustive resource of customer data D. Scour consumer financial information E. Use customer data in such a way to convince customers to buy products

A. Inform customers of the​ company's privacy policy

A value chain consists of which of the​ following? A. Internal departments and other companies that carry out​ value-creating activities B. Customers who assign value to products within the company C. A chain of SBUs within a company that provide the most value D. The network of distributors and suppliers that support a company E. An acquisitions team that buys products for the company to sell

A. Internal departments and other companies that carry out​ value-creating activities

Marketers obtain needed marketing information from which of the​ following? A. Internal​ data, marketing​ intelligence, and marketing research B. Marketing​ intelligence, marketing​ research, and the marketing environment C. Internal​ data, marketing​ research, and marketing managers D. Internal​ data, big​ data, and market research E. Marketing​ managers, information​ users, and internal databases

A. Internal​ data, marketing​ intelligence, and marketing research

​___________consists of the analysis​ tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance. A. Marketing analytics B. CRM C. Touch points D. Marketing information E. Big data

A. Marketing analytics

Which of the following needs in​ Maslow's hierarchy is generally satisfied​ first? A. Physiological needs B. Safety needs C. Esteem needs D. Self-actualization needs E. Social needs

A. Physiological needs

The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the first stage in this​ process? A. Problem recognition B. Supplier search C. General need description D. Proposal solicitation E. Supplier selection

A. Problem recognition

Which of the following represent market​ offerings? A. Products, services,​ information, and experiences B. Needs, wants,​ products, and advertisements C. Value, satisfaction,​ sales, and profits D. Products, services,​ needs, and exchanges E. Products, services,​ needs, and wants

A. Products, services,​ information, and experiences

Which of the following is an important trend in the natural environment of which marketers should be​ aware? A. Shortages of raw materials B. Decreased government intervention C. Decreased pollution D. A decrease in consumer concern toward the environment E. Decreasing costs of nonrenewable resources

A. Shortages of raw materials

​________________ is one problem with​ business-to-business e-procurement. A. Suppliers being pitted against one another B. Increased transaction costs C. Increased time between order and delivery D. Reduced purchasing efficiency E. Increased paperwork requirements

A. Suppliers being pitted against one another

What are the eight steps in the business buying decision​ process, in the correct​ sequence? A. General need​ description, problem​ recognition, product​ specification, supplier​ search, proposal​ solicitation, supplier​ selection, order-routine​ specification, and performance review B. Problem​ recognition, general need​ description, product​ specification, supplier​ search, supplier​ selection, proposal​ solicitation, order-routine​ specification, and performance review C. Problem​ recognition, general need​ description, product​ specification, supplier​ search, proposal​ solicitation, supplier​ selection, order-routine​ specification, and performance review D. Performance​ review, problem​ recognition, general need​ description, product​ specification, supplier​ search, proposal​ solicitation, supplier​ selection, and​ order-routine specification E. Problem​ recognition, general need​ description, product​ specification, supplier​ selection, supplier​ search, proposal​ solicitation, order-routine​ specification, and performance review

C. Problem​ recognition, general need​ description, product​ specification, supplier​ search, proposal​ solicitation, supplier​ selection, order-routine​ specification, and performance review

What are the variables in a​ company's marketing​ mix? A. Product, price,​ profits, and people B. Product, partners,​ profits, and place C. Product, price,​ place, and promotion D. Profits, product,​ partners, and people E. Product, price,​ promotion, and people

C. Product, price,​ place, and promotion

Which of the following is NOT one of the marketing management​ functions? A. Analysis B. Planning C. Promoting D. Implementation E. Control

C. Promoting

​Chicago's Best Pizzeria has been operating on the north side of Chicago for more than 30 years. Its target market includes young urban professionals who want​ new-style organic pizzas with exotic ingredients.​ However, in recent​ years, the population in the​ pizzeria's neighborhood has been​ shifting, and now fewer young urban professionals live there. The population has grown older and wants traditional​ pizza, not pizza with exotic ingredients. Which of the following identifies the​ pizzeria's BEST response to this​ situation? A. Run an ad campaign on the health benefits of pizza. B. Be proactive and convince customers that​ "exotic is​ better." C. Target a new market with a different product. D. Sell a different food​ product, such as hamburgers or sushi. E. Cut the prices on its pizza.

C. Target a new market with a different product.

When a company chooses a group of customers to​ serve, it is engaging in which of the​ following? A. Differentiation B. Societal marketing C. Target marketing D. Market segmentation E. Demand management

C. Target marketing

Most standard portfolio analysis methods evaluate strategic business units​ (SBUs) on their performance in two important dimensions. What are these two​ dimensions? A. The number of SBUs the company identifies and the number of products it produces B. The number of products a company produces and the number of foreign countries in which the company competes C. The attractiveness of the​ SBU's market or industry and the strength of the​ SBU's position in that market or industry D. The type of market or industry in which the company competes and the strength of the​ SBU's position in that market or industry E. The attractiveness of the​ SBU's market or industry and the number of products the company produces

C. The attractiveness of the​ SBU's market or industry and the strength of the​ SBU's position in that market or industry

Which of the following environments demonstrates a changing age​ structure, shifting family​ profiles, geographic population​ shifts, a​ better-educated and more​ white-collar population, and increasing​ diversity? A. The​ socio-cultural environment B. The political environment C. The demographic environment D. The economic environment E. The technological environment

C. The demographic environment

Which of the following includes shortages of certain raw​ materials, higher pollution​ levels, and more government​ intervention? A. The sociocultural environment B. The political environment C. The natural environment D. The economic environment E. The technological environment

C. The natural environment

How does the new concept of marketing differ from the old concept of marketing​ ("telling and​ selling")? A. The new concept is more cost efficient. B. The new concept focuses on having a​ well-developed product. C. The new concept focuses on customer needs. D. The new concept requires less work from marketing executives. E. The new concept focuses on making money.

C. The new concept focuses on customer needs.

Which of the following BEST describes the purpose of customer​ insights? A. To advertise new products to customer bases B. To instruct other company departments in customer service C. To create more value for customers D. To develop new markets of customers for the company E. To represent the company to its customers

C. To create more value for customers

What is the ultimate aim of customer relationship​ management? A. To maintain high customer loyalty B. To produce high customer profitability C. To produce high customer equity D. To establish brand equity E. To increase share of customer

C. To produce high customer equity

What advice would you give a firm about how to respond to the changing marketing​ environment? A. Do not do anything until competitors respond. B. If the current strategy is​ working, there is no need to respond to environmental changes. C. Whenever​ possible, take a proactive approach to the environment. D. Accept the fact that things change and not much can be done about it. E. Watch environmental changes but react only when absolutely necessary.

C. Whenever​ possible, take a proactive approach to the environment.

Today's marketers see information not only as a tool for input for better​ decision-making, but also as​ ___________________________. A. a​ revenue-generation tool B. a way to provide useful customer insights C. an important strategic asset and marketing tool D. a way to gather big data and perform analytics E. an excellent resource to gather information on competitors

C. an important strategic asset and marketing tool

Which of the following consists of factors affecting buying power and​ patterns? A. The sociocultural environment B. The demographic environment C. The political environment D. The technological environment E. The economic environment

E. The economic environment

What is the correct sequence of the steps in the strategic planning​ process? A. Set company objectives and​ goals, define the company​ mission, design the business​ portfolio, and plan the market and other functional strategies B. Define the company​ mission, set company objectives and​ goals, plan the market and other functional​ strategies, and design the business portfolio C. Design the business​ portfolio, define the company​ mission, set company objectives and​ goals, and plan the market and other functional strategies D. Define the company​ mission, design the business​ portfolio, set company objectives and​ goals, and plan the market and other functional strategies E. Define the company​ mission, set company objectives and​ goals, design the business​ portfolio, and plan the market and other functional strategies

E. Define the company​ mission, set company objectives and​ goals, design the business​ portfolio, and plan the market and other functional strategies

What is the correct sequence of the four steps of the marketing research​ process? A. Develop the research​ plan, define the problem and research​ objectives, implement the research​ plan, interpret and report the findings B. Set the research​ budget, collect the​ data, analyze the​ data, determine how to use the findings C. Collect the​ data, analyze the​ data, develop the research​ plan, interpret and report the findings D. Develop the research​ plan, set the research​ budget, collect the​ data, interpret and report the findings E. Define the problem and research​ objectives, develop the research​ plan, implement the research​ plan, interpret and report the findings

E. Define the problem and research​ objectives, develop the research​ plan, implement the research​ plan, interpret and report the findings

​Julie's Jump Rope Emporium is a new company. From a marketing​ standpoint, what is the FIRST thing​ Julie's Jump Rope Emporium needs to​ do? A. Advertise the company as a location in which to purchase jump ropes B. Develop the best jump rope possible C. Develop relationships with the customers who come to purchase jump ropes D. Develop a plan to sell as many jump ropes as possible E. Determine who in the community wants or needs a jump rope

E. Determine who in the community wants or needs a jump rope

Which of the following describes the type of research used to help define the research problem and suggest​ hypotheses? A. Causal research B. Descriptive research C. Secondary research D. Primary research E. Exploratory research

E. Exploratory research

Which of the following is NOT one of the typical advantages of​ e-procurement systems? A. Allowing buyers to focus on more strategic issues B. Reducing time between order and delivery C. Finding better supplier resources D. Eliminating paperwork E. Improving​ customer-supplier relationships

E. Improving​ customer-supplier relationships

What are the three general sources from which marketers can obtain​ information? A. Marketing​ research, surveys, and scanners B. Competitors, the​ internet, and the media C. Internal​ data, big​ data, and global data D. Sales​ records, the​ internet, and internal databases E. Internal​ data, marketing​ intelligence, and marketing research

E. Internal​ data, marketing​ intelligence, and marketing research

Marketers need to understand and know the answers to several key questions when dealing with buying centers. Of the​ following, which is NOT one of those key​ questions? A. Who are the major buying center​ participants? B. In what decisions do they exercise influence and to what​ degree? C. What major influences impact the buying center​ decision? D. What evaluation criteria does each decision participant​ use? E. Is price a major factor or is the buying center price​ sensitive?

E. Is price a major factor or is the buying center price​ sensitive?

Denim Blue Jean Corporation is a growing company located in Washington​ State, but it is beginning to develop a presence in the surrounding states as well. It sells only one product long dash blue jeans long dash but it has 12 different lines of jeans that cater to​ men, women,​ children, babies,​ toddlers, and teens. Which type of marketing department organization would BEST suit Denim Blue Jean​ Corporation? A. Geographic organization B. Functional organization C. Combination organization D. Product management organization E. Market management organization

E. Market management organization

Vaughn's Video has suffered because more people are subscribing to online streaming sites such as​ Netflix, YouTube,​ iTunes, Amazon, and Hulu. Which of the following marketing trends has NOT affected​ Vaughn's Video? A. The digital age B. Sustainable marketability C. The changing economic environment D. Rapid globalization E. Not-for-profit marketing

E. Not-for-profit marketing

Consumers go through a distinct process in making a purchase. Of the​ following, which is the final step in that​ process? A. Recognizing a need B. Making a purchase C. Gathering information D. Evaluation of alternatives E. Post-purchase behavior

E. Post-purchase behavior

Which marketing philosophy holds that consumers will favor products that offer the most in​ quality, performance, and innovative​ features? A. Selling concept B. Societal marketing concept C. Marketing concept D. Production concept E. Product concept

E. Product concept

Which of the following would be good advice for someone conducting marketing research in a foreign​ country? A. You can easily find good secondary data in most foreign markets. B. Globalization has slowed​ down, so international research is no longer necessary. C. Consumers in foreign markets generally enjoy participating in marketing research. D. Language translation will be easy. E. Reaching respondents in other parts of the world is more difficult than it is in the United States.

E. Reaching respondents in other parts of the world is more difficult than it is in the United States.

Which of the following is NOT part of an overall SWOT analysis evaluation of a​ company? A. Weakness B. Opportunities C. Strengths D. Threats E. Strategy

E. Strategy

​_____________________________ compose a​ company's external value delivery network A. Other company​ departments, customers, and competitors B. Suppliers, distributors, and other company departments C. Customers, competitors, and suppliers D. Suppliers, customers, and other company departments E. Suppliers, distributors, and customers

E. Suppliers, distributors, and customers