marketing exam 1 questions

Which of the following is true of business markets?

Business demand is derived demand as it ultimately derives from the demand for consumer goods.

Which of the following is most likely true about business legislation?

Business laws that are enforced by government agencies have a major impact on a company's marketing performance.

________ products are consumer products and services with unique characteristics or brand identifications for which a significant group of buyers is willing to make more effort than usual to purchase.

Specialty

Which of the following is a difference between the marketing concept and the selling concept?

The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products.

Which of the following is a desirable quality for a brand name?

The name should translate easily into foreign languages.

Which statement about convenience products is most likely true?

They are bought by consumers frequently and with minimal comparison.

Which of the following is an advantage of primary data?

They are more relevant than secondary data.

Which of the following is most likely a true statement about baby boomers?

They are the wealthiest generation in U.S. history.

Which of the following is most likely true about companies that take a proactive stance toward the marketing environment?

They develop strategies to change the marketing environment.

________ are customers who show low potential profitability and little projected loyalty.

Strangers

________ involves looking at whether a company's basic business models are well matched to its opportunities.

Strategic control

Which of the following is most likely a characteristic of the Millennial generation?

They like to engage in two-way brand conversations.

Which of the following is most likely a characteristic of firms that adopt a reactive approach toward the marketing environment?

They take advantage of the opportunities provided by the environment.

Which of the following is most likely a characteristic of Generation Xers?

They were the first group to grow up in the Internet era.

________ products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort.

Convenience

Which of the following is most likely true about people's beliefs and values?

Core beliefs and values have a high degree of persistence.

________ refers to the practice of including ethnic themes within a company's mainstream marketing.

Cross-cultural marketing

________ are minor stimuli that influence where, when, and how a person responds to an idea.

Cues

________ is the total combined customer lifetime values of all the company's current and potential customers.

Customer equity

________ is the degree to which an innovation may be tried on a limited basis.

Divisibility

________ refers to reducing the business portfolio by abandoning products that no longer fit the company's overall strategy.

Downsizing

Which of the following is an example of consumer-generated marketing?

Fun & Run, a local amusement park, promotes its services by allowing consumers to upload videos and write reviews about the park.

Which generational group is most likely less materialistic when compared with other groups?

Generation X

Members of which generational group are referred to as echo boomers?

Generation Y

Which generational group consists of the kid, teen, and tween markets?

Generation Z

Which generational group is most comfortable using digital technologies?

Generation Z

Alice is shopping for a new car, and she has narrowed her decision to a Honda Accord and a Toyota Camry. Both sedans have similar features and prices, but Alice decides to purchase the Honda based on her intuition. Which of the following situations would most likely cause Alice to experience postpurchase dissonance?

The price of the Toyota Camry falls due to an increase in demand.

ToyBox is a toy manufacturer based in the United Kingdom. Which of the following indicates that the company is following a market penetration strategy?

It acquires toy rights for a popular cartoon character to boost its sales.

Which of the following is true of a good marketing information system?

It balances the information that a firm wishes to have with the information a firm actually needs.

Which of the following is true of competitive marketing intelligence?

It can be obtained from information that is available in the public domain.

Which of the following is true about customer relationship management (CRM)?

It consists of sophisticated software and analytical tools.

Which of the following is true of strategic planning in a firm?

It deals with adapting the firm to take advantage of changing marketing opportunities.

Which of the following is true of survey research?

It is the most widely used method for gathering primary data.

Which of the following statements is true in the context of the BCG growth-share matrix?

Stars often need heavy investment to finance their rapid growth in a market.

________ means that consumers are likely to remember good points made about a brand they favor and forget the good points made about competing brands.

Selective retention

________ refer to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible.

Services

________ refers to the portion of the customer's purchase that a company gets in its product categories.

Share of customer

________ products are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style.

Shopping

Which of the following is most likely a true statement about shopping products?

Shopping products are purchased less frequently than convenience products.

Which of the following is most likely a true statement about social class?

Social classes show distinct product preferences in areas such as clothing.

Which of the following statements about buying centers is true?

Some buying centers involve informal participants.

In CRM, ________ is the technique that helps researchers sift through mounds of detailed customer information and dig out interesting findings about customers.

data mining

Which of the following is a commercial source of product information?

dealer Web sites

Which of the following is most likely categorized as a business market?

firms that buy goods and services for further processing

Reseller markets consist of ________.

firms that buy goods and services to sell at a profit

When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________.

generating person-to-person brand conversations

Which of the following has resulted from the increased educational levels of the U.S. population?

greater job growth for professional workers

In the BCG growth-share matrix, stars refer to products or businesses with a ________.

high market share in a market with a high growth rate

The process that turns marketing plans into marketing actions to accomplish strategic marketing objectives is called marketing ________.

implementation

After a research instrument is selected, the next step in the marketing research process is ________.

implementing the research plan

A product line is most likely too short if managers can ________.

increase profits by adding items

A product line is most likely too long if managers can ________.

increase profits by dropping items

Which of the following represents a change in the technological environment of a marketing firm?

increased use of RFID systems to track products

Which of the following contact methods is flexible, allows for explanation of difficult questions, and lends itself to demonstrating products?

individual interviews

A firm uses a small convenience sample to gather data on customer reactions. It invites a small group of customers for lunch and asks them to share what they think about the products they have purchased from the firm. This is an example of ________.

informal surveys

Becca wants to buy a new coat. She asks her friends to recommend a store and/or a style of coat. She looks for sale advertisements for coats in newspapers and also visits nearby stores to check if she can find something in her budget. In this case, Becca is most likely in the ________ stage of the buyer decision process.

information search

Haley Computers Inc. has appointed a few employees to sift through customer conversations on online forums and social networking sites regarding products purchased from Haley. These employees are likely to be working as ________.

listening officers

The town of Genter recently witnessed a devastating hurricane that crippled the town's infrastructure. Q-Mart, a retail chain that plans to open a new retail store in Genter, organizes a program to help the people of Genter. The program consists of providing free meals to those who lost their dwellings in the hurricane. What section of the marketing microenvironment is Q-Mart most likely trying to reach?

local publics

Which of the following is a primary characteristic of strategic control rather than operating control?

looking at whether the company's basic plans and action goals are well matched to its opportunities

In the BCG growth-share matrix, question marks refer to products or businesses with a ________.

low market share in a market with high growth prospects

Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization.

macroenvironment

Kathy Jenkins is planning to conduct research on consumers' personal care routines. Since the questions are likely to be personal and sensitive, Kathy wants to select a contact method that will encourage respondents to answer honestly. Which of the following contact methods is most likely to serve Kathy's purpose?

mail questionnaires

One of the demographic trends seen in the United States over the last few decades is the decrease in the proportion of ________.

manufacturing workers

Acme Inc., a manufacturer of construction and mining equipment, is based in Australia. Acme modifies the production processes of its widgets and gadgets to sell its current products in Eastern Europe. This is most likely an example of a ________ strategy.

market development

Which of the following methods should a marketing researcher use to obtain information that people are unwilling or unable to provide?

observational research

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

obsolete technologies used by the company

Which of the following is a quantitative Internet-based research approach?

online survey

Which of the following is a structured method of online research where marketers require direct responses from customers?

online surveys

In a SWOT analysis, ________ refer to favorable factors or trends in the external environment that a company may be able to exploit to its advantage.

opportunities

A&B's Smarter Planet campaign markets A&B as a company that provides innovative solutions that improve the world's IQ. This activity of A&B is an example of ________ marketing.

organization

Which of the following terms best describes the process of designing and producing a container or wrapper for a product?

packaging

The most effective sources of information about a product tend to be ________ sources.

personal

When viewing the market from a buyer's point of view, "convenience" corresponds to the ________ component of the marketing mix.

place

In a marketer's macroenvironment, the ________ environment consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society.

political

A product mix is also known as a product ________.

portfolio

Jeff is in the process of buying a new car. He carefully analyzes the features that he wants in a car, and perceives significant differences in price, quality, and features among three of his favorite models. He rates the models on each factor and ranks them in the order of his preference. To which of the following stages of the buyer decision process will Jeff most likely proceed next?

purchase decision

Which of the following characteristics of a product is defined as "freedom from defects"?

quality

The most common research instrument, whether administered in person, by phone, by e-mail, or online, is the ________.

questionnaire

What are the two main types of research instruments used to collect primary data?

questionnaires and mechanical devices

A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a(n) ________.

reference group

Which of the following criteria does the Boston Consulting Group approach use to provide a measure of a company's strength in the market?

relative market share

In a straight rebuy, a buyer ________.

reorders something without any modifications

JJ Distributors Ltd. buys electronic products from manufacturers for wholesale and sells them to various retail outlets. To which of the following markets does JJ Distributors Ltd. directly cater?

reseller markets

Which of the following is the means by which companies post purchase requests online and invite suppliers to bid for their business?

reverse auctions

Which term refers to the activities a person is expected to perform according to the people around him or her?

role

Which of the following marketing actions would a proactive organization most likely take?

running advertorials to shape public opinion

Which of the following is most likely the final stage of the business buying process?

supplier performance review

Which category of industrial products includes repair and maintenance?

supplies and services

GT Grand, a manufacturer of ultra-luxury cars, supplies customized vehicles based on the specific demands of customers in affluent market segments. The company's approach is most likely referred to as ________.

target marketing

Selecting particular segments of a population of customers to serve is called ________.

target marketing

Which of the following is an example of a shopping product?

television

Which of the following is an example of a media public?

television station

Customer evangelists are those who ________.

tell others about their good experiences with a brand or product

Customers who are classified as true believers ________.

tell others about their good experiences with a company

Causal research is used to ________.

test hypotheses about cause-and-effect relationships

Which of the following is the most financially strapped generation in the post-recession era?

the Millennials

Which of the following best describes a company's business portfolio?

the collection of businesses and products that make up the company

Which of the following sources constitutes the internal database of a company?

the company's sales records

Silkskin Cosmetics is advertising its newest line of eye makeup. Made from all-natural ingredients, the products are hypoallergenic. Silkskin is selling the products in specially designed tubes that make application easier. Which of the following is a core customer value for Silkskin's line of eye makeup?

the desire for having beautiful eyes

Which of the following factors would fall under the demographic environment for marketers?

the educational level of a company's customers

Which of the following transforms marketing strategies into real values for consumers?

the four Ps of marketing

Which of the following are examples of internal publics of a company?

the managers, board of directors, and workers of the company

Which of the following concepts is based on a customer-centered philosophy?

the marketing concept

Which of the following concepts holds that consumers will favor products that are available and highly affordable?

the production concept

Which of the following demonstrates the real value of a company's marketing research and information system?

the quality of customer insights it provides

Which of the following best describes the value chain of a company?

the series of departments that design, produce, market, deliver, and support the company's products

Which of the following concepts calls for sustainable marketing?

the societal marketing concept

Which of the following is part of the microenvironment of a firm's marketing environment?

the suppliers who work with the company

In a SWOT analysis, ________ refer to unfavorable external factors or trends that may present challenges to performance.

threats

Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy. The CEO stresses that the new mission statement should be market-oriented rather than product-oriented. Which of the following mission statements will best suit the company?

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

The responsibility for setting a company's mission, objectives, broad strategies, and policies primarily lies with its ________.

top management

Product mix length refers to the ________.

total number of items a company carries within its product lines

An ethical concern about companies that use online marketing techniques and involve consumer information in the process is that these companies ________.

track, share, and misuse browsing details of unknowing customers

When using a harvest strategy for a particular strategic business unit, a company ________.

tries to maximize its short-term cash flow regardless of long-term concerns

A customer who is both loyal and profitable is referred to as a ________.

true believer

According to the five-step model of the marketing process, the first step in marketing is ________.

understanding the marketplace and customer needs and wants

Consumer products that the buyer either does not know about or knows about but does not normally consider buying are referred to as ________ products.

unsought

The selling concept is typically practiced with ________.

unsought goods

Which of the following is an experiential source of product information?

using the product

Which of the following is most likely the cheapest and quickest means to collect data for marketing research?

utilizing internal databases to gather sales data

A ________ is made up of a company, its suppliers, its distributors, and its customers who partner with each other to improve the performance of the entire system.

value delivery network

A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy their needs.

value proposition

Which of the following is most likely a true statement about diversity in the United States?

Various ethnic groups mix together but also retain their cultural differences.

________ are the form human needs take as they are shaped by culture and individual personality.

Wants

Which of the following companies is using a divesting strategy?

When sales of its clothing division decline, Blackstone sells the division to a competitor.

Which of the following products would the electronics company CypressSound classify as a cash cow in its BCG matrix?

Xpress-an MP3 player that has a high market share in a market that is not expected to grow significantly

Which of the following is true of focus group discussions?

Consumers are not always honest and open about their opinions.

________ are distribution channel firms that help a company find customers or make sales to them.

Resellers

Which of the following sources of product information can marketers control completely?

commercial sources

Which of the following is an example of ethnographic research?

A researcher at Louis Inc. visits customers' homes to observe their daily routines.

Which of the following is most likely a true statement about services?

A service is intangible before it is purchased.

________ refers to a channel stretching from raw materials to components to final products that are carried to final buyers.

A supply chain

________ is best suited for descriptive research.

A survey

According to the text, ________ are the most important actors in a company's microenvironment.

customers

Ainsworth is a toy manufacturer based in Australia. Which of the following most likely indicates that Ainsworth is following a diversification strategy?

Ainsworth enters the U.S. market with a line of children's clothing.

Which of the following is an example of licensing?

Berry, a fruit juice company, uses a well-known cartoon character to promote the company's line of children's products and pays the creator of the cartoon character a fee.

BerryBerry is a fruit juice company that has traditionally sold three varieties of mixed-fruit juices: DazzleBerry, AquaBerry, and GloBerry. The company wants to add more products to its product line. In this case, which of the following is an example of co-branding by BerryBerry?

BerryBerry teams up with SFX, a sporting goods company, to introduce a line of energy bars called BerryBerry SFX.

Vertigo is an electronics company. According to the BCG matrix, which of the following products of Vertigo would most likely classify as a question mark?

Blue-a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily

BlueBear is a shoe manufacturer based in the United States. Which of the following indicates that the company is following a market development strategy?

BlueBear introduces its shoes in the Indian and South-East Asian markets.

________ involves using an existing brand name for a new product category.

Brand extension

A firm has a huge amount of individual customer data saved in different databases. Which of the following can be used to integrate, analyze, and apply the available information effectively?

CRM systems

________ occurs when two established brand names of different companies are used on the same product.

Co-branding

________ is a discomfort caused by postpurchase conflict.

Cognitive dissonance

________ is the degree to which the results of using an innovation can be observed or described to others.

Communicability

________ is the degree to which an innovation fits the values and experiences of potential consumers.

Compatibility

________ is the degree to which an innovation is difficult to understand or use.

Complexity

________ markets consist of individuals and households that buy goods and services for personal use.

Consumer

________ are tools that give marketers the detailed measures they need to assess and adjust their strategies.

Dashboards

________ is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.

Demography

Which of the following is a disadvantage of online focus groups?

Determining the identity of people who constitute an online sample is difficult.

Which of the following best describes a marketing department with a functional organization?

Different marketing activities are headed by specialists such as sales managers, advertising managers, marketing research managers, and customer service managers.

Which of the following is most likely a true statement about the technological environment of a firm?

Every new technology makes an older technology obsolete.

________ is the act of obtaining a desired object from someone by offering something in return.

Exchange

________ are small groups of consumers who interact directly and informally with product designers without a moderator.

Immersion groups

Erica Jenson has a limited budget to conduct a market research. Which of the following research approaches would provide Erica with the most cost-effective way to reach a large number of respondents in a short period?

Internet-based surveys

In which of the following research methods does the sample size have little impact on costs?

Internet-based surveys

Which of the following is true of mobile marketing?

Marketers use mobile channels to stimulate immediate buying.

Which of the following is true of marketing ROI?

Marketing ROI measures the profits generated by investments in marketing activities.

Vincent Cosmetics decides to launch a cream with a claim that it made skin "nine times smoother." The claim is based on a study of thirty respondents who used products of other brands as well. However, a second study on a larger sample reveals only a mild correlation between the use of the cream and smoother skin. In these circumstances, which of the following is the most ethical approach that Vincent Cosmetics can follow?

It should report the result as it is, or improve the product to match its claim.

________ are tradition-bound, suspicious of changes, and adopt an innovation only when it has become something of a tradition itself.

Lagging adopters

Which of the following statements is true of international marketing research?

Language translation in international marketing research typically increases costs and raises the risk of errors.

________ occurs when a company uses its existing brand name for new forms, colors, sizes, ingredients, or flavors of an existing product category.

Line extension

According to Maslow's hierarchy of needs, which of the following is true?

Lower-level needs are fulfilled before higher-level needs.

Which of the following is most likely a true statement about people's views about organizations?

Many people view work at an organization as a required chore.

________ refers to the process of evaluating each market segment's attractiveness and selecting one or more segments to enter.

Market targeting

Which of the following statements is most likely true about unsought products?

Marketers use aggressive advertising to convince consumers to buy unsought products.

________ are defined as states of felt deprivation.

Needs

Which of the following statements regarding marketing intelligence is true? A) Marketing intelligence typically involves sensitive and confidential information kept out of the public domain.

Marketing intelligence is the systematic collection and analysis of publicly available information.

________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Marketing research

Which of the following is a demographic trend observed in the United States?

More people are working remotely.

Greyzone, a company that creates customized household furniture, is based in Terrania and is looking to enter other countries as well. The company identifies the country of Nyevka as a good option because the entry barriers for new companies are low in Nyevka. Which statement indicates that Greyzone follows a diversification strategy?

Noting that Nyevka lacks well-established suppliers of office equipment, Greyzone begins to manufacture and supply office equipment.

Which of the following is true of question formats in questionnaires?

Open-end questions are useful in exploratory research to find out what people think.

________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert social influence on others.

Opinion leaders

________ refers to working closely with people inside and outside the company to jointly bring more value to customers.

Partner relationship management

________ refers to the unique psychological characteristics that distinguish a person or group.

Personality

________ is the degree to which an innovation appears superior to existing products.

Relative advantage

________ data consist of information collected for the specific purpose at hand.

Primary

________ provide the resources needed by a company to produce its goods and services.

Suppliers

________ is a method of gathering primary data that involves asking people questions about their knowledge, attitudes, preferences, and buying behavior.

Survey research

________ marketing is defined as socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

Sustainable

________ is defined as a business strategy where business buyers prefer to buy a complete solution to a problem from a single seller rather than buying separate products and services from several suppliers.

Systems selling

Kobe Healthcare's analgesic drug Dilophin has a 45% share in the analgesics market in the country of Bodonia. Its closest competitor, Caritin, has a 25% share in the market, while three other drugs split the remainder. Which statement indicates that Dilophin is a star according to the BCG matrix?

The Bodonian market for healthcare products is expanding rapidly.

Which of the following is most likely a true statement about generational groups in the United States?

The Generation Xers are the most educated generation to date.

BerryBerry is a fruit juice company that has traditionally sold three varieties of mixed-fruit juices: DazzleBerry, AquaBerry, and GloBerry. The company wants to add more products to its product line. Which of the following is an example of brand extension for BerryBerry?

The company introduces BerryBliss, a dried berry snack mix for kids.

Omni Healthcare's analgesic drug Cetaprin has a 40% share in the analgesics market in the country of Terrania. Its closest competitor, Febex, has a 25% share in the market, while four other analgesic brands split the remainder. Which statement indicates that Cetaprin is a cash cow according to the BCG matrix?

The demand for analgesic drugs in the Terranian market is expected to remain stable.

Which of the following is an example of a local public?

a community organization that addresses welfare issues in its neighborhood

Suppliers and resellers can update their accounts, arrange purchases, and check orders against inventories through ________.

a company's extranet

The societal marketing concept holds that ________.

a company's marketing decisions should focus on creating economic value in a way that also creates value for the surrounding environment

Which of the following changes most likely forced marketers to shift to value marketing after the Great Recession of 2008/2009?

a decrease in customer spending in all product categories

Which of the following is an example of cause-related marketing?

a firm selling electronics and giving a percentage of sales to charity

Which of the following is part of the microenvironment of a company's marketing environment?

a just-in-time inventory system used by the company when making purchase decisions

According to Sigmund Freud's theory, a person's buying decisions are ________.

affected by subconscious, hidden motivations

In which of the following stages of the buyer decision process does a consumer compare multiple products with similar attributes?

alternative evaluation

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

an improvement in the company's production technology

Which of the following generally increases the total demand for business products?

an increase in consumer demand

Which of the following best describes product positioning?

arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

Business portfolio analysis is defined as the process in which management ________.

assesses the attractiveness of an SBU's market and the strength of its position in the market

The initial function of a marketing information system is ________.

assessing the information needs of a company

A(n) ________ describes a person's relatively consistent evaluations, feelings, and tendencies toward an object or idea.

attitude

Greater consumer control means that companies must rely more on marketing by ________.

attraction

Members of which of the following generational groups were born between 1946 and 1964?

baby boomer

To which of the following generational groups do zoomers belong?

baby boomer

Which generational group controls the highest percentage of disposable income in the United States?

baby boomer

Secure is a financial services and insurance company. The company's most profitable division is one that sells the Secure Future Plan. The Secure Future Plan targets customers who are entering retirement and want long-term savings so they can remain financially independent in the later years of their life. The marketing team at Secure has most likely targeted the plan at ________.

baby boomers

Carla, a team leader in charge of customer relationship management, is planning strategies to improve the profitability of her firm's least profitable but loyal customers. She is also examining methods for "firing" customers in this group who cannot be made profitable. To which of the following customer relationship groups do these customers belong?

barnacles

Fine Corp., a consumer electronics manufacturer, targets a market with many low-margin customers. Which of the following types of associations would be most profitable for the firm to develop with these customers?

basic relationships

A ________ is defined as a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service.

brand

Which of the following terms is used to describe a specific mix of human traits that may be attributed to a particular brand?

brand personality

Dextora Technologies manufactures microprocessors and caters exclusively to private manufacturers that produce high-end computers. Which type of market does Dextora directly target?

business market

A consumer who is potentially profitable but shifts loyalty toward better deals is referred to as a ________.

butterfly

Which of the following types of marketing involves creating opinion leaders to serve as brand ambassadors to spread the word about a company's products?

buzz marketing

Which of the following is an example of a convenience product?

candy

At Ken's boutique, the policy statement posted in the reception states: "Without our customers, we don't exist." Ken and his staff aim to delight each customer and they are quick to offer discounts or extra services whenever a customer is anything less than satisfied. Instead of focusing on individual transactions, Ken and his staff are putting a priority on ________.

capturing customer lifetime value

The final step in the marketing process is ________.

capturing value from customers

In the BCG matrix, ________ refer to low-growth, high-share businesses or products.

cash cows

Experimental research is best suited for gathering ________ information.

causal

Vernon Inc. would like to set the best price for a new product. The firm conducts an experimental study by selling the new product at two different prices in two different locations keeping other factors constant to see if a lower price results in better sales. This is most likely an example of ________ research.

causal

Ursa Martin, a book publisher, has decided to work with Hope in Children, a charity foundation that helps feed and educate children in poor countries. Ursa Martin has decided that a percentage of revenue from every book it sells will go to the charity. The books are marketed by conveying this message to customers. Which of the following marketing techniques describes Ursa Martin's association with Hope in Children?

cause-related marketing

Which of the following is an industrial product categorized under materials and parts?

cement

Minority groups that question a company's marketing decisions most likely belong to ________ publics.

citizen-action

Kelstone Developers is planning to build a new shopping mall that would require the partial acquisition of a nearby public park. Walking Green, an environmental group, challenges the plan citing environmental destruction. In response to the demands of Walking Green, Kelstone Developers promises to build a huge park-like walkway around the mall. Walking Green is an example of a(n) ________ in this scenario.

citizen-action public

Customer-driven marketing is most effective when ________.

clear needs exist and customers know what their needs are

The Niketown running community organizes bimonthly athletic training programs for Nike buyers. This is an example of a ________.

club marketing program

Which of the following is an industrial product categorized under supplies and services?

coal

Hammond Corp. operates in the highly aggressive electronics market. The firm aims to obtain early warnings of opportunities and threats caused by the actions of other firms that are doing well in the industry. Which of the following sources would best serve Hammond's purpose?

competitive marketing intelligence

Ethnographic research is ________.

conducted in settings where people live and work

Subsistence economies are best defined as economies that ________.

consume most of their own agricultural output and offer few market opportunities

Ellis, a marketing manager at a regional chain restaurant, has decided to create a contest asking the public to create commercials for the restaurant. Winning entries will be posted on the organization's home page. Ellis' plan is an example of ________.

consumer-generated marketing

The production concept holds that ________.

consumers will favor products that are available and highly affordable

The selling concept holds that ________.

consumers will not buy enough of a firm's products unless the firm undertakes large-scale persuasion and promotion efforts

Marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on ________.

consumers' existing wants

A laundry detergent that consumers purchase frequently, with minimum comparisons, is an example of a(n) ________ product.

convenience

Which of the following types of products are generally priced the lowest?

convenience products

A company adding new features to a product will most likely compare each feature's value to customers with its ________.

cost to the company

The concept of shared value focuses on ________.

creating economic value in a way that also creates value for society

Raymond purchased a Honda Civic six months ago because he perceived Honda's superiority over the competition. Raymond has been more than satisfied with his purchase and now has an emotional relationship with the Honda brand. Raymond's relationship with Honda is best referred to as ________.

customer delight

The overall process of dealing with all aspects of acquiring, keeping, and growing customers is referred to as ________.

customer relationship management

Directing consumers toward products and services that meet their present and future needs is referred to as ________ marketing.

customer-driving

When customers don't know what they want or don't even know what's possible, the most effective strategy is ________ marketing.

customer-driving

Cylog, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by Cylog?

customer-driving marketing

Futuristic Designs Inc., a furniture retail chain, understands and anticipates customer needs even better than customers themselves do and creates products and services to meet their existing and future needs. Which of the following has Futuristic Designs followed in this case?

customer-driving marketing

Which of the following terms refers to a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers?

customer-perceived value

The marketing manager of Appeal Inc. has noticed a sharp decrease in sales over the last two months. The manager decides to conduct marketing research to identify potential causes for the drop in sales. Which of the following should the manager do first?

define the problem and objectives

A company's mission statement should most likely be ________.

defined in terms of satisfying basic customer needs

What is the first step in the marketing research process?

defining the problem and research objectives

Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a(n) ________.

demand

When backed by buying power, wants become ________.

demands

Brooke's Boutique plans to launch a new clothing line. For this purpose, the firm first conducts a survey to understand its target audience and identify the demographics of potential buyers. It then conducts experimental research to test whether customers associate discounted prices with lower product quality. Which types of research has the boutique employed in this case?

descriptive followed by causal

Coolers Inc. has decided to launch a new energy drink that will have the fewest calories among its competitors. To understand the market potential for the new drink and the demographics and attitudes of consumers who are likely to buy the product, Coolers should most likely use ________.

descriptive research

Both product development strategies and diversification strategies involve ________.

developing a new product

Which of the following is the second step of the marketing research process?

developing the research plan

According to the product concept, a company should ________.

devote its energy to making continuous product improvements

Which of the following will most likely be included in the "price" component of a company's marketing mix?

discounts

A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets is called ________.

diversification

Which of the following best describes market segmentation?

dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors

In the BCG matrix, ________ are low-share businesses and products in low-growth markets.

dogs

Marque, a high-end maker of designer watches, has started making inexpensive watches to take advantage of enormous growth rates in low-end market segments. Marque is most likely engaging in ________.

downward stretching

A(n) ________ becomes a motive when it is directed toward a particular stimulus object.

drive

Fred's faith in his favorite brand makes him consider new initiatives and products introduced by the brand. Fred is not a risk-taker, and he tends to evaluate each new product carefully before adopting it. Fred is an opinion leader in his social networking community. Fred is best described as a(n) ________.

early adopter

Changes in variables, such as income, cost of living, interest rates, and savings and borrowing patterns most likely reflect changes in the ________ environment of a company.

economic

A marketing firm has been assigned the task of watching trends in personal income, savings, and interest rates. The marketing firm is most likely gathering information about consumers' ________.

economic situations

A major advantage of a mail survey is that it ________.

eliminates interviewer bias

Which of the following groups is included in a company's value chain?

employees

Which of the following groups is included in both a company's value chain and its value delivery network?

employees

The citizen-action publics in a company's marketing environment include ________.

environmental groups

Brand ________ is the differential effect that knowing the brand name has on customer response to the product and its marketing.

equity

A company that sells personal care products sends a trained observer to watch potential buyers in their natural environments. This is an example of ________ research.

ethnographic

In which of the following stages of the adoption process does a consumer consider whether trying a new product makes sense?

evaluation

A market researcher wants to find the cause-and-effect relationship between using organic ingredients in food and the subsequent consumption by customers. He invites ten respondents to his research firm and asks them to taste two identical dishes. The dishes were prepared in a similar manner, but one has natural herbs for flavoring, and the other has artificial flavors. This is an example of ________.

experimental research

Burger Town introduced a new hamburger and released it in two different cities at two different prices. Marketers of Burger Town 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 ________.

experimental research

In most marketing research projects, what type of research is conducted first?

exploratory

The objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses.

exploratory

Which of the following do organizational buyers use when they want to connect with important suppliers and create direct procurement accounts?

extranet links

Which of the following is an example of an industrial product grouped under capital items?

factory

Which of the following is a social factor that influences consumer buying behavior?

family

Expanding a product line by adding more items within the present range of the line is known as product line ________.

filling

Monfax Corporation insures manufacturers, distributors, and consumers against the loss or damage of goods during transportation after a purchase or sale. In this case, Monfax is an example of a ________.

financial intermediary

Orienting and motivating customer-contact employees and supporting service people to work as a team to provide customer satisfaction is known as ________ marketing.

interactive

The dependence of service quality on the quality of the buyer—seller communication during the service encounter is referred to as ________ marketing.

interactive

In which of the following stages of the adoption process does a consumer seek information about a new product?

interest

Diane Chambers, the marketing manager of FarmFresh, collects data from her monthly records of sales, costs, and cash flow. In this case, Diane is making use of ________ databases.

internal

Which link in the service chain emphasizes superior employee selection and training?

internal service quality

What is the last step in the marketing research process?

interpreting the findings

With a market development strategy, a company aims to improve sales by ________.

introducing its product in a new market without making any changes to the product

Which of the following will most likely be included in the "place" component of a company's marketing mix?

inventory

Which packaging component identifies the product or brand?

label

Opinion leaders are also known as ________.

leading adopters

Which of the following is an example of an unsought product?

life insurance

Which of the following is a personal factor that influences a consumer's buying behavior?

life-cycle stage

Which of the following is a psychographic characteristic of a consumer?

lifestyle

) Sweet & Cream, a popular frozen yogurt chain, attracts new customers by adding new flavors to its famous frozen yogurt product line. In this case, the company has developed its brand with ________.

line extensions

Ethnographic research essentially involves ________.

observation and interaction

RedInk, a company that manufactures office furniture, is based in Bodonia. It is looking to sell its current products in other countries as well. The company identifies the country of Soleria as a good option because the cultures and tastes of consumers in the two countries are similar. This is an example of a strategy for ________.

market development

Which of the following criteria provides a measure of market attractiveness in the Boston Consulting Group approach?

market growth rate

A strategy for company growth that involves increasing sales to current market segments without changing the product is known as ________.

market penetration

EcoBean, a chain of cafes, has introduced a Special Shopper Card that allows customers to pay in advance for coffee and snacks. This effort by EcoBean management is most likely an example of ________.

market penetration

Indigo, a company that manufactures electric chimneys, is based in the country of Terrania. Indigo aims to increase its sales by increasing advertising efforts and undertaking frequent promotional events. Which of the following strategies is Indigo using in this scenario?

market penetration

A consumer group that responds in a similar way to a given set of marketing efforts is the company's ________.

market segment

Dividing a market into several sections of customers is known as ________.

market segmentation

Which of the following marketing measures can best be translated into dollar returns?

market share

The ________ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.

marketing

Evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are attained is called ________.

marketing control

Which of the following has the primary function of helping a company target and promote its products to the right markets?

marketing services agencies

Which of the following is a quantitative approach to research?

marketing surveys

Iron ore is an example of an industrial product that is categorized under ________.

materials and parts

Harmon, a nationwide department store, uses checkout scanners to record shoppers' purchases. Which term best describes Harmon's checkout scanners?

mechanical instrument

A business buyer is considering a change in product specifications, terms, and possibly suppliers. This buying situation is referred to as a(n) ________.

modified rebuy

Which of the following is a geographic shift that has been observed in the United States in recent times?

more Americans moving to micropolitan areas

Which of the following is most likely a consequence of the Great Recession of 2008 to 2009?

more sensible and mindful consumption

A(n) ________ is a need that is sufficiently pressing to direct a person to seek satisfaction.

motive

A marketing intermediary would most likely help a firm by ________.

moving the firm's goods from production points to distribution centers

Sportware, a leading shoe manufacturer, markets sneakers under the brand name "Athletix" and dress shoes under the brand name "Cameo" in order to target the two different market segments. What branding strategy is most likely being used by Sportware?

multibrands

Xenon, a leading consumer-electronics manufacturing company, markets its products under the company's own brand name. In this case, Xenon has sponsored its products by promoting them as ________ brands.

national

Fargo Inc. is a carbonated beverage manufacturer that has many manufacturing plants around the world. It is planning to shift from using thermal power to wind power for its manufacturing plants in the Netherlands to decrease dependency on nonrenewable sources of energy. This scenario depicts Fargo's concern for its ________ environment.

natural

Which of the following is the first stage of the buyer decision process?

need recognition

Which of the following would most likely use informal research methods to obtain marketing insights?

not-for-profit organizations

Product mix width refers to the ________.

number of different product lines the company carries

Product mix depth refers to the ________.

number of versions offered for each product in the line

A(n) ________ is best suited for exploratory research.

observation

Bill thought he had received the best deal on his new car. Shortly after the purchase, Bill started to notice certain disadvantages of his new car as he learned more about other cars available in the same price range. Bill is in which of the following stages of the buyer decision process?

postpurchase behavior

Simone bought two bottles of wine from two vineyards in Bordeaux. When asked for an opinion on the quality of the wines, she later mentioned that the Pontet Canet tasted like alcoholic grape juice, but the Chateau Margaux had a crisp taste that she really enjoyed. Which of the following stages of the buyer decision process do Simone's remarks reflect?

postpurchase behavior

Governments most likely enact business legislation to ________.

prevent unfair competition in the market

Store brands are also known as ________ brands.

private

Voorhees' Farms raises chickens. For years, it has used wooden coops for hauling its poultry to market. When the owner, Jason Voorhees, went to reuse some of his coops, he noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced. Which stage of the business buying process was Voorhees in when he decided to replace his old coops?

problem recognition

The ultimate aim of customer relationship management is to ________.

produce high customer equity

The ________ concept holds that consumers will favor goods and services that offer the most in quality, performance, and innovative features.

product

To which of the following elements of the marketing mix do design, packaging, services, and features belong?

product

Which component of the marketing mix refers to the goods-and-services combination a company offers to its target market?

product

Flores Fashions promotes its clothing by emphasizing the durability and quality of the fabrics it uses. The company has positioned its brand based on ________.

product attributes

During which stage of the business buying process is a buyer most likely to conduct value analysis by carefully studying components to determine if they can be redesigned, standardized, or made less expensively?

product specification

Mike's, a chain of department stores, regularly purchases plastic bags from a certain supplier. The store decides to switch to less expensive bags made of biodegradable plastic. The change will promote an environmentally-friendly image for the department store and cut costs. This approach to cost reduction most likely occurred in the ________ stage of the business buying process.

product specification

Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This most likely reflects the ________.

production concept

Voize, a leading mobile phone manufacturer, focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Voize most likely follows the ________.

production concept

When viewing the market from a buyer's point of view, "communication" corresponds to the ________ component of the marketing mix.

promotion

GenX, a manufacturer of sport motorcycles, is seeking a new supplier of motorcycle headlamps and brake lights. After searching trade directories, GenX invites five different suppliers to make formal presentations about how their solutions can create greater value for GenX than competing solutions. GenX is currently in the ________ stage of the business buying process.

proposal solicitation

Lengthening a product line beyond its current range is referred to as product line ________.

stretching

Sally purchased a newly introduced moisturizing lotion. By attempting to find out if the lotion's perceived performance matched her expectations, Sally was measuring her level of customer ________.

satisfaction

Information collected from online databases on the Internet is an example of ________ data.

secondary

Traxx is a newly emerging shoe manufacturing company. After extensive market research, Traxx divides its market into professional athletes, "hobbyists" or amateur players, and people who wear shoes as part of their casual attire. Each category has its own needs, traits, and marketing goals. In this scenario, Traxx has engaged in market ________.

segmentation

People tend to interpret new information in a way that will support what they already believe. This is called ________.

selective distortion

Which of the following needs in Maslow's hierarchy is generally satisfied last?

self-actualization needs

Both market penetration strategies and market development strategies primarily involve ________.

selling a company's current products

When a company chooses to divest a particular strategic business unit, it ________.

sells off or phases out the strategic business unit

Service variability means that ________.

service quality depends on when, where, and how they are provided

Service inseparability means that ________.

services become a part of their providers, whether the providers are people or machines

Service perishability means that ________.

services cannot be stored for later sale or use

Which of the following is a pure tangible good?

shampoo

A refrigerator is an example of a(n) ________ product.

shopping

The state department of health has allotted a significant amount of money for an advertising campaign that emphasizes the ill effects of smoking and spans radio, print, television, and online media. This is an example of ________ marketing.

social

The use of traditional business marketing concepts and tools to create behaviors that will create individual and societal well-being is called ________ marketing

social

Some fast food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to the soaring obesity rates and environmental problems. In this case, these fast-food restaurants have overlooked the ________ concept.

societal marketing

A(n) ________ reflects the general esteem given to the different roles of a person by society.

status

According to Maslow's hierarchy of needs, which of the following is most likely an esteem need?

status

Which of the following is most likely a financial public?

stockholder

A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a(n) ________.

straight rebuy

In which of the following customer relationship groups do organizations generally avoid investing?

strangers

Which of the following would be considered part of an augmented product rather than that of an actual product or core customer value?

warranty

Consistency of a product mix refers to the ________.

ways in which the various product lines are related

In which of the following circumstances is an organization likely to engage in full partnerships with key consumers?

when the market has few customers and high margins

Specialty products are consumer products and services that customers generally buy ________.

without making comparisons