Marketing Exam One
Which of the following are sources of external secondary data? (Check all that apply.)
"Statistics from the U.S. Census Bureau, A report found in a business or academic journal,
When marketers measure how optimistic consumers are about the overall state of the economy and their own personal finances, they are measuring _______.
Consumer Confidence
Each month, when she gets her paycheck, Tara must decide how she will spend the money that she has made. How she goes about doing this is a process known as _______.
Consumer behavior
Affective choice
Consumers choose based on how a product will make them feel
Attribute-based choice
Consumers compare features across brands before choosing
Attitude-based choice
Consumers make a selection using general attitudes and summary impressions
29. Stephanie knows that she needs to include information in the controls section of the marketing plan about what the company will do if the initial marketing strategy it has planned does not garner the results the company wants. This information is known as the ___________Plan
Contingency
Factors outside of a firm such as political, technological, or legal forces that affect the firm's ability to meet its marketing goals are all part of the _______.
Marketing Enviroment
The process of using information to link customers, consumers, and the public to the marketer is referred to as _____.
Marketing Research
A(n) system helps a company continuously capture marketing information and stores that information so that it is accessible to researchers.
Marketing information
Which of the following tools gives managers information on how to create customer value and strengthen customer relationships?
Marketing information system
Product development
Creating new goods and services for existing markets
Which of the following are typical results of a high level of GDP? (Check all that apply.)
Increased wealth among most income levels, Higher consumer confidence, Lower unemployment rates
_______ competition is a process in which products provide alternative solutions to the same market.
Indirect
A consumer's personality, lifestyle, and values are all factors that can significantly impact a consumer's buying decision.
Individual
Everett is shopping for a piece of exercise equipment to use at home. At the store, he asks the salesperson about the features and warranties of treadmills, exercise bikes, and elliptical trainers since he isn't sure which would be the best choice for his fitness needs. Asking questions about a product would most likely occur during which stage of the consumer decision-making process?
Information Search
The second step of the consumer decision-making process is
Information Search
Matthew is assessing information about the number of purchases made by loyalty card customers in the past six months at his company. This information is a form of _______ data.
Internal
31. Which items are part of a thorough market summary? (Check all that apply.)
International growth opportunities, An analysis of important marketplace trends, Potential sales through international expansion
In order to get more information about how its customers use the new self-service coffee bar, Janice is sitting down with individual customers one at a time and asking them to describe their likes and dislikes about the coffee bar. Janice is conducting a(n) _____.
Interview
According to Tracey Rogers, if you want to retain customers, you should strive to _______.
Master and exeed customer service expectations
a _______reference group is a group to which a consumer actually belongs.
Membership
Andrew was born in the year 1981. According to your text, Andrew is a _______.
Millennial
Trained researchers hired to pose as customers and report on the physical appearance or customer service attributes of a store are called
Mystery Shoppers
Which of the following is the name given to qualitative research done by observing the behavior of online communities that have been organized around a particular consumer interest?
Netnography
A set of social actors along with the set of ties between each pair of actors defines a social _______.
Network
11. Charities, churches, and some hospitals and universities are all examples of __________
Non profit, Organizations
Formal or informal societal rules that specify or prohibit certain behaviors in specific situations are referred to as .
Norms
Diversification
Offering new goods and services to attract new customers
Which aspect of the four Ps is associated with the development of goods and services based on customer needs and wants?
Product
Which section of the marketing plan would include information on any warranties or guarantees that accompany what the company is selling?
Product
Charles obtained his data on the number of births from the Census Bureau. This is an example of data. (Enter one word in the blank.)
Secondary
A market _____________ represents a group of like customers that have similar product needs.
Segment
A marketing strategy includes decisions about which of the following?
Segmentation, Strategic direction, Target markets, Positioning, Marketing mix
Market development
Selling existing goods and services to new customers
A market development strategy can be defined as _______.
Selling existing products to new customers
Market penetration
Selling more of existing goods and services to existing customers
The result of a stimulus impinging on the receptor cells of a sensory organ is called
Sensation
The use of sensation and perception to influence consumer preferences and choice is the idea behind _______.
Sensory Marketing
19. Which component of the marketing plan allows a company to understand information about their current business and then make strategic decisions about how to best move forward?
Situation analysis
As an external marketing factor, the term __________ factors refers to the combination of social and cultural factors that affect individual development.
Socialcultural
A firm that simply states "increase sales" as its marketing objective may have trouble formulating a strategy to meet this goal because this objective is too vague and does not meet the marketing characteristic of being _______.
Specific
Portia was asked to develop a medium-term marketing objective for the department. She came up with the following: "The department needs to increase ad revenues by 10% over the next quarter and can do this by developing relationships with Clorox, Johnson & Johnson, and Renuzit." Which aspect of developing a quality marketing objective has Portia most likely accomplished?
Specific
Which of the following are the three characteristics of a quality marketing objective? (Check all that apply.)
Specific, Realistic, Measurable
Primary data collection methods can either be _______ or _______. (Check two answer choices.)
quantitative, qualitative
A(n)__________ occurs when overall gross domestic product (GDP) declines for two or more consecutive quarters.
recession
Which of the following best describes the benefits of observation as a data collection technique?
It allows researchers to see how people behave.
What was the purpose of the Wheeler-Lea Act of 1938?
It made deceptive and misleading advertising illegal.
Inflation is an increase in the _______.
general level of prices of products in an economy over a period of time
9. Katrina is wondering if her new ad campaign should utilize the "sex sells" theme or if doing so will offend potential customers. Katrina's ethical question relates to the _______ element of the marketing mix.
promotion
Select which of the following accurately describe a focus group. (Check all that apply.)
"Focus groups can be done in-person or online, Focus groups are expensive to perform, Focus groups are conducted by a moderator
Which of the following are the three consumer reference groups marketers focus on when developing a marketing strategy? (Check all that apply.)
"Membership reference groups, Aspirational reference groups, Dissociative reference groups
Marketers use marketing research to do which of the following? (Check all that apply.)
"Monitor marketing performance, Identify and define marketing opportunities, Evaluate marketing actions
Which items listed below are examples of things a marketer could do to reduce a consumer's level of cognitive dissonance? (Check all that apply.)
"Provide customer service support, Offer an extended warranty, Offer a money-back guarantee
The marketing research process contains _______ steps.
5
Karen read an article in the newspaper that said Fresh Farms provided the safest, pesticide-free vegetables in the state. She decided that from now on, she would only buy Fresh Farms products. In this instance, when it comes to Karen as a customer, Fresh Farms is enjoying _______.
A competitive advantage
While many companies might provide the same product, consumers often believe that one particular company provides more value than the others. When this happens, it is an example of _______.
A competitive advantage
Who among the following is purchasing a substitute product?
A customer buys a zero-calorie sweetener when the sugar brand she was looking for was out of stock.
Yvette heard on the news that the price of groceries is expected to rise by 10% this year. As such, the amount of groceries she can purchase for $25 will decrease by that same 10%. This is an example of _______.
A decrease in purchasing power
To understand how consumers used the features available in the General Electric refrigerator, the company invited eight people who already owned the product to gather together for two hours, along with a moderator, to discuss the topic. This is an example of _____.
A focus group
Which of the following statements about gross domestic product (GDP) is true?
A high GDP growth rate influences consumers' ability to spend their money.
Which of the following is true of recession?
A recession decreases consumer confidence.
In the U.S today, which of the following has the highest average family income of all ethnic groups?
Asian Americans
Which word best describes the System 1 way of thinking?
Automatic
The generation of children born between 1946 and 1964 are collectively referred to as _______.
Baby boomers
Which of the following characterize baby boomers? (Check all that apply.)
Baby boomers are individuals born between 1946 and 1964, Baby boomers represent the wealthiest generation in U.S. history, Baby boomers are retiring at a rate of 10,000 per day.
Today, the population in the United States is _______.
Becoming increasinly Muiticultural
Which of the following describes both the growth in information that inundates businesses each day and the complex tools used to analyze the data and derive meaningful insights?
Big data
Tracey Rogers believes that a firm that provides excellent customer service will benefit in which of the following ways? (Check all that apply.)
By having customers who will be willing to pay more for a good or service, By having customers who will be loyal to the firm
Based on her scan of the external factors that would impact her small business, how did Erin Brewer promote the local culture at RedPin?
By the items she offered on her menu
30. Apple's MacBook has a consistent market share and steady revenue. According to the BCG matrix, the MacBook is a _______ for the company.
Cash Cow
A product that maintains a large market share in the industry even though that industry does not have a high growth rate is considered to be a _______.
Cash cow
Apple's MacBook has a consistent market share and steady revenue. According to the BCG matrix, the MacBook is a _______ for the company.
Cash cow
Marketers are trying to determine if consumers will react negatively to a reformulated mixture of its soft drink. So, a researcher conducts an experiment with a group of people. The researcher has participants taste the old product along with the new reformulated product. They are then asked which of the two they would buy. Which type of research is being conducted?
Casual
Which of the following is used to test hypotheses in order to understand the cause-and-effect relationship among variables?
Casual research
_______ is the mental conflict a consumer experiences when he or she acquires new information that contradicts previously held beliefs and assumptions.
Cognitive dissonance
Which of the following is not a method of qualitative primary data collection?
Company records
Phillip works for a sports-supply company and is in the process of gathering data on the strategies its competitor is using to gain market share. He has spoken with three of his main suppliers to learn more. This demonstrates the idea of _______.
Competitive intellgence
Diane decided to sit in on the presentation given by her company's biggest rival at the trade show so she could see first-hand how they were demonstrating their product line. Diane is engaging in _____
Competitve intelligence
Consumer______ measures how optimistic consumers are about the overall state of the economy and their own personal finances.
Confidence
A consumer's evoked set is also referred to as a set. (Enter one word in the blank.)
Consideration
The broad set of knowledge, beliefs, laws, morals, customs, and any other capabilities or habits acquired by humans as members of society is referred to as _______.
Culture
_____ is the third step in the marketing research process.
Data collection
Which of the following are steps in the marketing research process? (Check all that apply.)
Data collection, Taking action, Data analysis, Problem definition, Plan development
If Kelly wants to access and use the information stored in a data warehouse, she would rely on _______.
Decison support system
Typically, consumer confidence _______ when the economy contracts and people lose jobs.
Decreases
Valerie's company recently increased the price of its most popular brand of dog shampoo. The company wants to understand how this action will affect demand for the product, so Valerie's boss wants her to estimate how this price increase will affect consumer interest for the product. Valerie has been asked to complete a _______.
Demand Analysis
_______ are characteristics of human populations, such as age, gender, ethnicity, and education level, that can be used to identify consumer markets.
Demograhpics
The education level of a consumer is a(n) _______ variable that can be used to identify consumer markets.
Demograpic
In a , a researcher, working with one participant at a time, asks open-ended questions about how the individual perceives and uses various products or brands. (Enter one word in each blank.)
Depth interview
Companies who conduct research based on the questions who, what, when, where, and how are conducting _______ research.
Descriptive
Nalia has a small business that sells knit hats and gloves. She is curious if potential customers would prefer to shop in a store or online to find her products. To learn this information, Nalia's best form of research would be _______ research.
Descriptive
_______ competition refers to a situation in which products that perform the same function compete against each other in a market.
Direct
________competition is also called brand competition or category competition.
Direct
Several major U.S. retailers have opened manufacturing plants overseas. These manufacturers represent which strategic option for entering into the international marketplace?
Direct ownership
Competitors of McDonald's can be classified two ways. Restaurants like Wendy's and Burger King are its ________ competitors, while Subway and Taco Bell would be its________ competitors
Direct, indirect
When a company has a product that is considered a dog according to the BCG matrix, the company would be wise to _______.
Discontinue the product
Each month when Jason receives his paycheck, he sees the total amount of money he earned less the amount that was taken out for paying taxes. This leftover amount of money is referred to as income.
Disposable income
Jenna is a florist and needs to determine how to get 1,000 flowers to the three weddings she is responsible for this weekend. She is concerned with the _______ strategy of the marketing plan.
Distribution
It is common for companies to make which of the following mistakes when conducting a SWOT analysis?
Failing to separate internal issues from external issues
Which of the following statements is true about the economic factors in a marketing environment?
Economic factors influence almost every marketing decision a firm makes.
Which of the following is a reason offered by your text as to why educated consumers are prime targets for marketing strategies?
Educated consumers are likely to earn significantly more money throughout the course of their lifetime.
The act of monitoring developments outside of a firm's control with the goal of detecting and responding to threats and opportunities is referred to as _______.
Enviromental Scanning
When Erin Brewer decided to explore launching a small business, she analyzed the external factors that would impact her company. Monitoring developments outside of a firm's control with the goal of detecting and responding to threats and opportunities is referred to as _______.
Enviromental Scanning
Which of the following items are demographic characteristics?
Ethnicity, Age, Gender
When trained observers watch and interact with a subject in his or her natural environment, research is taking place.
Ethnographic
When shopping for a new car, Antonio asked the salesperson about the Honda Accord's fuel efficiency, safety rating and available options so he could compare the Accord to other cars he was evaluating. Because the questions represent features that are important to Antonio, they make up what is referred to as his _______.
Evaluative Criteria
As part of kitchen remodeling, Christy and Rick have been evaluating new appliances. They have narrowed down their choice of refrigerators to three brands. These three brands represent their _______.
Evoked set
Trevor has decided to speak face-to-face with his customers so he can ask them about their buying behaviors in the fast-food industry. This demonstrates the idea of _____ research.
Exploratory
_____ research is a way for a business to understand why consumers behave the way they do and offers new insights to help the firm in its analysis. It often includes some form of face-to-face interaction.
Exploratory
Companies that sell domestically-produced products to foreign markets are using which international market entry strategy?
Exporting
Rank the following international market entry strategies in order of risk and potential return by placing the strategy with the lowest risk/return first (at the top of your list) and the strategy with the highest risk/return last (at the bottom of your list).
Exporting, Licensing, Franchising, Joint Venture, Direct Ownership
21. True or false: The sales forecast would be included in the mission statement of the marketing plan.
FALSE
6. True or false: The question "What opportunities for personal gain might tempt our firm's suppliers?" relates to the pricing element of the marketing mix.
FALSE
True or false: A consumer will only use one evoked-set alternative (attribute-based, affective, or attitude-based) at a time.
FALSE
True or false: Personality rarely influences a consumer's decision to purchase products.
FALSE
True or false: The product aspect of the four Ps is generally determined by the desires of the marketing department and is not based on customer needs and wants.
FALSE
Kerri knows that women with small children as well as unmarried women buy her line of athletic clothes. But she markets to these two groups differently because they buy her products for different reasons. Kerri is basing her marketing strategy on a concept known as the
Family life cycle
Which of the following is true regarding the role of family on consumer behavior?
Family members are one of the greatest influences on consumer behavior.
In which option for entering the international marketplace would you find a contractual agreement that gives a local owner/operator the right to use the name and marketing support from the McDonald's corporation?
Franchising
If you wanted to get a sense of the economic health of a nation as well as an indication of that country's standard of living, you would look to which economic indicator?
GDP
_______ is best defined as the market value of all officially recognized final goods and services produced within a country in a given period
Gross domestic product
Which of the following is a characteristic of gross domestic product
Higher GDP growth in a country often increases wealth across most income groups.
Because family is of primary importance to _____ cultures, marketers should include family as a central theme when targeting this group
Hispanic
When a consumer sees an item in-store and purchases it, with little or no deliberation, this purchase is referred to a(n) _______ purchase.
IMPULSE
While shopping for groceries, Beth gets a sudden urge to have ice cream. Even though she didn't plan on buying any, she gets some anyway. This is an example of a(n) _______ purchase.
IMPULSE
The _______ section of the marketing plan consists of a detailed description of the article being offered.
Product
A(n) is an arrangement in which a domestic firm partners with a foreign company to create a new entity, which allows the domestic firm to enter the foreign company's market.
Joint ventue
In which of the following strategies for entering the international marketplace is a new entity created which allows the domestic firm to enter the foreign company's market?
Joint ventue
When the general price level rises, each unit of currency buys _____ goods and services
Less/ Fewer
Which of the following strategic options can a firm use for entering the international marketplace? (Check all that apply.)
Licensing, exporting, franchising
Nike's "Just Do It" advertising campaign sought to capitalize on consumers' passion for being active and the drive to push themselves further. This campaign was focused on which personal factor?
Lifestyle
A discipline combining science, statistics, and computer coding to make predictions based on patterns in data is called
Machine Learning
Martin wants to increase sales at his shoe store by giving his customers the opportunity to buy another pair of shoes for half-price for each pair of shoes they buy. This is an example of the marketing growth strategy known as
Market Penetration
If Pizza Hut decided to open restaurants in Brazil for the first time, it would be an example of which marketing growth strategy?
Market development
33. The BCG matrix relies on two elements to produce four unique product categories. What are these two elements? (Check all that apply.)
Market growth, Relative market share
Which marketing strategy is designed to encourage existing customers to buy more of a product each time they visit a store?
Market penetration
Identify the four basic categories of marketing growth strategies from the list below. (Check all that apply.)
Market penetration, Product developemt, Market development, divsification
The process of market segmentation results in _______.
Market segments
The specific actions a firm must take in order to accomplish its overall marketing objectives is laid out in its _______.
Market strategy
24. As a component of the situation analysis, a _______ focuses on the current state of the market to which the firm will sell its products.
Market summary
Data obtained from UPC codes at a check-out counter is what type of data?
Scanner data
If Martha Stewart agreed to endorse a particular craft store, she might influence a large number of people to shop there because she is considered to be a top-notch crafter and knowledgeable about the subject. In this instance, Martha Stewart would be considered a(n)
Opinion Leader
Which of the following are the goals of marketing analytics? (Check all that apply.)
Optimise return on investment, Maximise effectiveness
A group of consumers are given various types of at-home exercise equipment and are asked to use the products for 6 months. During that time, the consumers are to record in a journal their level of satisfaction with each product, noting what they liked and/or disliked about each. This is an example of _______.
Panel data
Which psychological process refers to the way we see the world around us?
Perception
As it pertains to marketing,___________ is the set of distinctive characteristics that lead an individual to respond in a consistent way to certain situations.
Personality
Which of the following are considered to be individual factors that might impact a consumer's behavior and, therefore, his or her buying decision? (Check all that apply.)
Personality, Lifestyle, values
12. In ethical decision making, what element of the marketing mix is affected when a firm is deciding whether or not to outsource jobs to other members of the supply chain?
Place
4. The question "What opportunities for personal gain might tempt a firm's suppliers?" relates to the _______ element of the marketing mix.
Place
If a company is concerned with how much inventory to stock within its' distribution network, it is focusing on the _______ aspect of the four Ps.
Place
You would decide what type of research you will use during the _______ stage of the marketing research process.
Plan development
Of the external marketing factors listed in your text, which one is most likely at play if legislation is passed that will ban the sale of a product to certain age groups?
Politcial
The six major external factors that influence the marketing environment of a firm are: economic, demographic, sociocultural, technological, legal and _______.
Political
A company uses statistical techniques and algorithms based on consumers' past buying behavior to predict what those consumers may buy in the future. This is an example of _____.
Predictive Modeling
A company that uses statistical techniques and algorithms based on patterns of past behavior to predict future events is using .
Predictive modeling
14. When Apple introduced the iPod, there were no other products like it in the marketplace. If the firm asked itself if it should increase the price on the iPod due to lack of competition, what element of the marketing mix would this relate to?
Price
Demand analysis is a tool used when determining which component of the four Ps?
Price
When beginning the process of data collection, a firm must decide whether to use _______ or _______ data
Primary; secondary
Jane's company sells cookies to grocery stores. Recently, its sales have dropped, but the company is not sure why. Jane has been asked to pinpoint the reasons for the drop in sales. Which aspect of marketing research has Jane been asked to do?
Problem definition
The first step a marketing team takes in the marketing research process is _______.
Problem definition
10. A marketer who asks the question "What default privacy settings should be built into our company's website?" is concerned with which element of the marketing mix?
Product
Jennifer's son has asked for a new gaming system for his birthday, but Jennifer is reluctant to purchase it because he received his current system just last year. Her son says the new system has an enhanced feature that makes the colors even brighter and that is why he wants it. The enhanced feature found on the new system is an example of which marketing growth strategy?
Product development
Karen's company started out ten years ago making only coffee products. In the past year, they have introduced a line of tea to sell to their existing customers. Which marketing strategy do these efforts demonstrate?
Product development
Which of the following are included in the four Ps associated with every company? (Check all that apply.)
Product, price, place, promotion
A company relies on which element of the marketing mix when determining how it will communicate the value of its product?
Promotion
Sam has been asked to come up with ways to showcase the value of his company's newest products. He has determined that a public relations campaign is the best method to use. Sam's job is focusing on the marketing mix element known as
Promotion
_______ refers to the amount of goods and services that can be bought for a specific amount of money.
Purchasing power
Marlena is putting together a focus group to obtain feedback on the new juice product her company plans to launch next year. A focus group is a type of _________ research. (Qualitative or Quantitative)
Quantitative
32. When marketers use the BCG matrix, they use the term ___________ when classifying products that have a small market share in a high-growth industry.
Question Marks
The two types of unplanned purchases are _______.
REMINDER AND IMPULSE
an _________occurs when overall gross domestic product (GDP) declines for two or more consecutive quarters.
Recession
The buying process begins when consumers _______.
Recognize they have a need to satisfy
A(n) is made up of the people to whom a consumer compares himself or herself.
Reference group
Unplanned purchases that occur because of the prompts retailers give to consumers while they are in the store are referred to as purchases.
Reminder
While shopping at the drug store, Lilly sees a display of toothpaste and she remembers that she is almost out, so she buys some toothpaste as well. This is an example of a(n) _______ purchase.
Reminder
Another name for the plan development stage of marketing research is _______.
Research design
What is a reason that the use of licensing to enter international markets has increased significantly in recent years?
Rising research and development costs
22. Sam's company produces a highly popular energy drink and consumers purchase anything related to this drink as soon as it hits the market. Sam's job is to help maintain the market position for these products, especially in this highly competitive industry. in the BCG matrix, Sam would be focusing on _______ products.
STAR
Carlos has been asked to evaluate new opportunities that his company can take advantage of while also investigating potential threats to its product line. Carlos should use a(n) to complete his task.
SWOT analysis
If a company is trying to estimate how much of a product it will sell in the next six months, it should use
Sale Forecasting
27. Jessica's company produces the most popular technology in America and consumers purchase new products almost as fast as the company produces them. It is part of Jessica's job in the marketing department to make sure she helps maintain the market position for these products and showcases them as leaders in the ever-growing industry. in the BCG matrix, Jessica would be focusing on ____________ products.
Star
20. Marketing efforts for which type of products focus on maintaining the product's market position as a leader in a growing industry for as long as possible?
Stars
26. Within the BCG matrix, products labeled as _______ combine large market share with a high growth rate. Apple's iPhone would be an example of this type of product.
Stars
34. Marketing efforts for which type of products focus on maintaining the product's market position as a leader in a growing industry for as long as possible?
Stars
Machine learning utilizes _______. (Check all that apply.)
Statistics, Science, Computer coding
13. True or false: Professionally speaking, the same marketing principles used in business settings can help you market yourself and help you to reach your professional goals.
TRUE
Palo and Clarita were walking downtown when Palo suddenly received an electronic coupon for an Italian restaurant that was located just up the street. This illustrates how _______ can change the way firms market to consumers.
Technolgy
According to your text, the focal point of all marketing efforts is _______.
The buying decison
The first stage of the consumer decision-making process is problem recognition. What drives a consumer to recognize that he or she has a problem?
The consumer's perception of the actual state
The Boston Consulting Group matrix is a tool used to describe _______.
The current market
Select all of the potential risks associated with licensing in an international market. (Check all that apply.)
The licensee could potentially misuse trademarks. The licensor may create its own competition.
While shopping, Lisa buys powdered milk since her favorite brand of organic milk is out of stock. She also buys a torch for her trekking trip and a pair of batteries for the torch. While waiting at the payment counter, she notices the colorful lollipops displayed at the counter. She purchases the lollipop even though she did not plan on buying one before entering the store. When considering all of Lisa's purchases, which one is an example of a substitute product?
The powdered milk
What is market segmentation?
The process of dividing a larger market into smaller groups based on meaningfully shared characteristics
Which of the following is true of norms?
They are formal or informal societal rules that specify or prohibit certain behaviors in specific situations.
17. Which of the following describes nonprofit organizations? (Check all that apply.)
They are generally organized to serve the general public in some way, They are a big part of the U.S. economy.
Quality marketing objectives have _______ basic characteristics. (How MANY)
Three
Which of the following is a key component of behavioral targeting?
Tracking and compiling consumer behaviors anonymously
5. Which of the following marketers understands the relationship between ethical business practices and marketplace success?
Tristan feels if he portrays himself, his company, and his profession in a positive ethical light, he will be successful.
True or False: Economic conditions impact customers' willingness and ability to buy products.
True
True or false: A social network can be defined as a set of individuals or organizations along with the set of ties between each of them.
True
True or false: According to your text, educated consumers are more likely to comprehend an advertiser's message than the rest of the population.
True
True or false: Social media has had a positive effect on exporting efforts.
True
True or false: The buying decision is the focal point of all marketing efforts.
True
Which of the following scenarios exemplifies the concept of indirect competition?
Two products provide alternate solutions to the same market
_______ purchases are purchases made in a retail store that are different from those the consumer planned prior to entering the store.
Unplanned
A person's , such as religious beliefs or a belief in self-responsibility, can have an impact on the decision-making process.
Values
In the context of big data, both structured and unstructured information are growing exponentially with regard to _____.
Volume, velocity, and variety of information
Apple Pay and Android Pay are both types of mobile payments, also referred to as digital .
Wallets
Which of the following are internal sources of company data? (Check all that apply.)
accounting and finance information, sales records, customer support records
Daniel Kahneman's mode of thought referred to as System 1 can be described as _______.
an automatic, nonconscious way of thinking
18. According to your text, taking a course in marketing can help your career in all of the following ways EXCEPT _______.
by helping you determine what career field you should enter
Even though the growth of MP3 players has declined, the Apple iPod still retains a large share of the market. The Apple iPod would be classified as a _______ within the BCG matrix.
cash cow
Which of the following accurately describes a decision support system (DSS)?
computer program
in an attempt to understand the mechanisms underlying consumption, researchers have drawn from many areas such as psychology, sociology, and marketing. The result is the social science known as _______.
consumer behavior
15. The fact that large firms like Arthur Anderson and WorldCom fell to ethical lapses and can no longer hire college graduates is an example of how unethical marketing practices harm _______. (Check all that apply.)
customers , employees, society
The _______ section of the marketing plan should outline all the different companies, people, and technologies that will be involved in the process of delivering the product to customers.
distribution
Within the BCG matrix, products with a small market share in an industry that has low growth rates are called
dogs
Janis owns a bakery and as part of a situation analysis, she is preparing a competition analysis. To be most effective, she should _______.
evaluate both her direct and indirect competitors
After a consumer has recognized that he or she has an unfulfilled need and has conducted an information search, that person can enter into the third stage of the consumer decision-making process, known as _______.
evaluating alternatives
For a fee, Isabella can open a Pizza Hut restaurant in her hometown of Sicily. The parent company has agreed that she can use the company name and it will also provide her with marketing and operational support. Isabella is in the process of _______.
franchising
Overall, _______ measures the overall size and health of an economy.
gross domestic product
Laney buys a pack of Tic-Tacs every time she is at the check-out line in the grocery store. This is an example of _______ decision making.
habitual
When consumers make decisions without much thought or product comparison, they are engaged in _______.
habitual decision making
23. Organizational structure is a key component within the controls section of the marketing plan because it _______.
holds specific departments and individuals responsible for the parts of the plan under their control
16. Common ethical questions that relate to the promotion element of the marketing mix involve _______.
how to advertise the product honestly
Proctor and Gamble offers its Gillette brand of deodorant for men and its Secret brand of deodorant for women. By taking the overall market and dividing it into smaller groups, Proctor and Gamble has engaged in _______.
market segmentation
3.The marketing strategy that focuses on measuring, managing, and analyzing market performance is referred to as _______.
marketing analytics
Within the BCG matrix, which type of product most likely falls under the category known as question marks?
new products
1. Which component of the marketing plan allows a company to understand information about their current business and then make strategic decisions about how to best move forward?
product
2. A marketer is wondering if environmentally-friendly packaging should be used for the firm's product since it costs more to do so. This ethical question relates to which element of the marketing mix?
product
28. A cash cow is defined in the BCG matrix as _______.
products that have a large market share in an industry with low growth rates
A cash cow is defined in the BCG matrix as _______.
products that have a large market share in an industry with low growth rates
A firm has just completed a new marketing campaign and would like to measure how effective it was at increasing profits. Which of the following metrics would indicate if the money spent on the campaign contributed to profits?
return on Marketing Investmet
8. As a step in the ethical decision-making process, considering how the decision will affect the stakeholders is sometimes referred to as _______.
seeing through a problem to the other side
How many stages are represented in the family life cycle?
six
Which quantitative research method provides information on consumer attitudes, intended behavior, and the motivations behind behavior?
survey
25. The Boston Consulting Group matrix is a tool used to describe _______.
the current market
One of the biggest sociocultural changes in the United States over the past half century has been _______.
the shift from a nation of primarily one-income families to one in which two-income families predominate
Because it can impact the success of the firm's marketing strategy, marketing professionals continually scan and analyze a firm's external environment in order to detect and respond to _______.
the threats and opportunities facing the firm
7. Arthur Anderson, WorldCom, and Enron are all firms that were destroyed by _______.
the use of unethical business practices
Typically, consumers purchase more when _______.
they are confident and feel more secure in their jobs
A membership reference group can be described as a group _______.
to which a consumer actually belongs
The marketing decisions of a firm are influenced by the fact that today, _______.
women take on the role of decision maker across a large, expanding variety of products
