Marketing Final Exam

In the context of SWOT analysis, which of the following can be considered a strength of an organization? a. products and services that can be imitated b. A new unserved market c. A superior production technology d. Increased taxes on products

c. A superior production technology

Chris has just purchased his first smartphone. Which of the following statements describes what is likely to occur during the post purchase stage of his decision process? a. communications from Samsung cannot reduce any cognitive dissonance he experiences. b. Chris will not give the phone a second thought as it is likely a low-involvement purchase. c. Chris expects certain outcomes from his phone and he will evaluate it during usage. d. If Chris tries to justify his decision, he will only increase his cognitive dissonance.

c. Chris expects certain outcomes from his phone and he will evaluate it during usage.

Freulia Inc. manufactures and sells stationery and office supplies. It is beginning to lose its competitive advantage with the entry of new competitors. In this case, to gain a sustainable competitive advantage, what should Freulia do? a. Imitate the products of its competitors b. Depend on government subsidies c. Develop the skills and assets of the organization d. Aim at being the low-cost competitor in the industry

c. Develop the skills and assets of the organization

Ronald Systems Inc. has developed a line of appliances that run on solar energy and cause no harm to the environment. Which of the following business practices is illustrated in this scenario? a. Divestment b. Opportunism c. Green marketing d. Cause-related marketing

c. Green marketing

Which of the following best defines the term secondary data? a. It refers to data that have not been proven and is in the form of assumptions. b. It refers to raw data that have not been processed. c. It is data previously collected for any purpose other than the one at hand. d. It is data to be collected for the first time to solve a problem.

c. It is data previously collected for any purpose other than the one at hand.

Identify which statement correctly describes the effect price has in the marketing mix. a. It does not affect the competitive advantage of the firm. b. It is the least important of the four Ps of the marketing mix. c. It is what a buyer must give up to obtain a product. d. It is the hardest to change among the four Ps of the marketing mix.

c. It is what a buyer must give up to obtain a product.

Varion Air, an airline company, is providing a promotional offer to mark the end of the pandemic. Customers will receive a complimentary ticket upon purchase of three business class tickets. In this case, which of the following is a likely outcome of its promotional strategy? a. It will satisfy the customers and not the management of Varion Air. b. It may be ineffective because the role of promotion in the marketing mix does not apply to services. c. It may increase Varion Air ticket sales. d. This promotion will work independently of the other three elements of the marketing mix.

c. It may increase Varion Air ticket sales.

When considering corporate social responsibility, which is true of stakeholder theory? a. It states that companies should only focus on increasing shareholder wealth. b. It states that social responsibility is best carried out by government agencies. c. It states that a company is expected to be a good citizen in its community. d. It states that the management does not play a special role in the organization.

c. It states that a company is expected to be a good citizen in its community.

Which of these is a premise of the Boston Consulting Group model? a. Diversification strategies can be risky when firms enter unfamiliar markets, even with little or no competition in those markets segments. b. The cash generated from cash cows should be allotted to SBUs considered to be question marks and dogs, instead of stars. c. Management must find a balance among the SBUs that yields the desired growth and profits of the overall organization with an acceptable level of risk. d. Companies must rely on new, unfamiliar assets to develop the type of breakthrough decisions that would determine their sustainability in the future.

c. Management must find a balance among the SBUs that yields the desired growth and profits of the overall organization with an acceptable level of risk.

Which of the following is a difference between product invention and product adaptation? a. Product invention involves altering the promotional strategy for a product, while product adaptation does not b. Product invention takes less time and money than product adaptation c. Product invention involves drastically changing an existing product, while product adaptation involves slightly altering a basic product. d. Product invention applies only to products that are sold in local markets, while product adaptation applies to products all around the world.

c. Product invention involves drastically changing an existing product, while product adaptation involves slightly altering a basic product.

Lauren buys groceries every month from Walmart and rarely does much research on the products she buys. What is the marketing term for this type of consumer behavior? a. Emotional involvement b. Enduring involvement c. Routine response behavior d. Extensive decision making

c. Routine response behavior

Tisha is easily influenced by her membership and aspirational reference groups. Which is true of one way in which reference groups influence her consumer behavior? a. Reference group norms do not constrain her consumer behavior. b. Tisha is prohibited from dissociating herself from her reference groups. c. Tisha generally uses the same criteria as her reference groups to make her own consumer decisions. d. Tisha is influenced only by the reference groups to which she belongs.

c. Tisha generally uses the same criteria as her reference groups to make her own consumer decisions.

In business buying, the buying center is a. usually at least 10 individuals involved in the purchase process b. a department within a company the makes all the purchase decisions c. all the individuals involved in a business purchase decision d. always more than one person

c. all the individuals involved in a business purchase decision

Ryan and Benton are best friends. Ryan regularly runs marathons and is a member of the Marathon Runners Club at his university. Benton also wants to join the club, but he is not a very strong runner. Benton decides to start running every day so that he can participate in marathons and become a member of the club. For Benton, the Marathon Runners Club can be categorized as a _____. a. interest reference group b. primary membership group c. aspirational reference group d. non aspirational reference group

c. aspirational reference group

Businesses that sell to other businesses use digital marketing, primarily in the form of ______, to position their businesses as thought leaders and generate sales leads. a. communication and orders b. banners c. content marketing d. promotional mix

c. content marketing

The AB group of hotels is keen on building relationships with customers. To ensure success in this effort, the attitudes and actions of its employees need to be ________ oriented. a. sales b. production c. customer d. societal

c. customer

Caroline, the manager of a jewelry store, conducts statewide market research and collects data on customer demographics and preferences for various jewelry items. Caroline is most likely using marketing research in its _____ role. a. prescriptive b. predictive c. descriptive d. diagnostic

c. descriptive

The diagnostic role of marketing research includes a. gathering and presenting factual statements. b. predicting future changes in marketing requirements. c. explaining data. d. addressing what-if questions.

c. explaining data.

Choqlate King Inc. is a large company that manufactures and sells chocolate bars. It plans to adopt a product development strategy. In this case, Choqlate King will: a. focus on attracting new customers and retain existing ones. b. offer chocolates at competitive prices. c. introduce a product line of low-calorie chocolates. d. use existing assets to provide added convenience to existing customers.

c. introduce a product line of low-calorie chocolates.

Hydralicious, a juice outlet, had to close a business because health inspectors found that the storage facilities at the outlet did not meet the standards set by the government. In this scenario, a _____ factor affected the business performance of Hydralicious. a. technological b. economic c. legal d. demographic

c. legal

Becky wants to buy a new cell phone. She asks her friends who are technologically savvy to recommend a good, lightweight phone that is easy to use. In this scenario, Becky is obtaining information using a _____. a. marketing-controlled information source b. internal information search c. non marketing-controlled information source d. need recognition

c. non marketing-controlled information source

Khokho Coffee House was the first company to introduce flavored coffee in the global market. It blends coffee in several different flavors, such as blueberry, cinnamon, and cranberry, based on the flavors each country prefers. In this scenario, Khokho Coffee House is involved in _____. a. promotion adaptation b. global marketing standardization c. product adaptation d. promotion invention

c. product adaptation

Gamer Page is a magazine that primarily caters to people who are enthusiastic about sports and who enjoy gaming. In this scenario, the editorial board of Gamer Page uses _____. a. gender segmentation b. geographic segmentation c. psychographic segmentation d. family life cycle segmentation

c. psychographic segmentation

My lecture on Ch. 4 included a discussion of research showing the effects of Covid-19 on consumer behavior. The pandemic has caused consumers to a. do less shopping online and more in-store b. spend more time outside the home c. show less brand loyalty d. focus their spending on non-essentials

c. show less brand loyalty

Volkswagen is planning to launch an electric SUV in the US within the next year or two. The company says the vehicle will be reasonably priced as it is START QUOTE for the millions, not the millionaires END QUOTE. This is a _____ targeting strategy. a. multisegment b. concentrated c. undifferentiated d. differentiated

c. undifferentiated

Laelle is a confectionery company that manufactures candies. It does not use specific strategies to target children when marketing its products. Instead it uses the same strategies to promote its candies among all consumers in the market. In this scenario, Laelle uses a _____. a. multisegment targeting strategy b. individual targeting strategy c. undifferentiated targeting strategy d. concentrated targeting strategy

c. undifferentiated targeting strategy

Which of the following comprise(s) the competitive environment of a firm? a. The number of competitors present in the market b. The relative size of the competitors c. The degree of interdependence within the industry d. All of these

d. All of these

Which of the following expresses the role played by marketing research? a. Descriptive b. Diagnostic c. Predictive d. All of these are correct.

d. All of these are correct.

Zenith, a popular restaurant chain, has many branches all over the world. The taste and quality of its food is the same across all these branch restaurants. Based on this information, which of the following strategies does Zenith embrace? a. Global marketing localization b. Product adaptation c. Mass customization d. Global marketing standardization

d. Global marketing standardization

Which of the following is NOT a factor in the external environment? a. Culture of a country b. Global economy c. Demographics d. Human resources of the organization

d. Human resources of the organization

Schools, hospitals, colleges and universities, churches, labor unions, fraternal organizations, civic clubs, foundations, and other so-called nonbusiness organizations are examples of which business market segment? a. Federal government b. Producers c. Resellers d. Institutions

d. Institutions

Which statement is true of product positioning? a. It assumes that consumers compare products solely on the basis of price. b. There are two positioning bases: application and price. c. The quality of competing products does not influence product positioning. d. It is a process that influences customer perception of a brand and product line.

d. It is a process that influences customer perception of a brand and product line.

Which of the following is correct about social media monitoring? a. It is a form of observation marketing research that combines online consumer activity with psychographic and demographic profiles compiled in databases. b. It is the study of human behavior in its natural context; involves observation of behavior and physical setting. c. It is a research method that relies on four types of observation: people watching people, people watching an activity, machines watching people, and machines watching an activity. d. It is the use of automated tools to monitor online buzz, chatter, and conversations.

d. It is the use of automated tools to monitor online buzz, chatter, and conversations.

My lecture on Ch. 5 included a discussion of an HBR article describing common mistakes companies make when launching a product in another country. All of these were mentioned EXCEPT a. Not specifying countries b. Not paying enough attention to internal data c. Not adapting sales and marketing channels d. Not getting permission from shareholders

d. Not getting permission from shareholders

_____ is an example of routine response behavior. a. Booking a cruise vacation b. Buying an $800 personal computer c. Buying an air conditioner for the first time d. Purchasing groceries

d. Purchasing groceries

Marketers at Libra Electronics Inc. are developing promotional strategies to increase product sales. In this case, which of the following strategies would its marketers likely use to improve product (brand) awareness among the public? a. They would limit the availability of the products to a few retail stores in the city. b. They would raise the prices of the products to signify high quality. c. They would reduce product features or options. d. They would create a social media campaign that showcases the benefits of the products

d. They would create a social media campaign that showcases the benefits of the products

The purpose of market segmentation is to: a. change consumer attitudes and beliefs toward a product. b. divide a market into submarkets of equal size and equal number of customers. c. eliminate the need for developing marketing objectives. d. enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments.

d. enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments.

Terra Corp. produces a wide range of furniture, such as cabinets, book cases, and bureaus. It divides its consumer market into several groups of people based on the benefits they are seeking from the furniture. The strategy of dividing its consumer market most likely: a. allows Terra Corp. to meet the needs of the markets with a single marketing mix. b. eliminate the need for developing marketing objectives. c. allows Terra Corp. to use an undifferentiated targeting strategy. d. enables Terra Corp. to define customer needs and wants more precisely.

d. enables Terra Corp. to define customer needs and wants more precisely.

My lecture on Ch. 3 mentioned research on how to prevent unethical behavioral in an organization. Which of the following is NOT a way to prevent such behavior? a. Cultivate emotional intelligence skills in managers and leaders throughout organization b. Communicate their ethical standards and values to employees c. Pay attention to employee emotions and other feedback d. focus only on the most egregious ethical violations

d. focus only on the most egregious ethical violations

Unlike nonmarketing-controlled information sources, marketing-controlled information sources: a. are types of internal information sources. b. include friends and families. c. are unbiased toward a specific product. d. include mass media advertising.

d. include mass media advertising.

PQR Corporation is a sales-oriented firm that focuses on high sales. It does not consider customer wants and needs, and instead concentrates on manufacturing products that will reap high profits. This attitude might lead to the firm missing business opportunities because ______. a. it focuses on providing value and benefits to its customers instead of meeting company objectives b. it emphasizes enhancing long-term best interests of individuals and society c. it concentrates on relationship building, empowerment, and teamwork d. its narrow focus on manufacturing specific products may not meet customer needs and wants for a wider range of products

d. its narrow focus on manufacturing specific products may not meet customer needs and wants for a wider range of products

Delat Corp. is a large corporation that offers several product lines. On the company website, the following text is highlighted: START QUOTE The aim of our business is to achieve profitability by offering our customers high-quality products that are manufactured in a cost-effective manner. Our goal is to provide value to our customers, serve the community, and preserve the environment. END QUOTE This text is most likely to be the _____ of Delat Corp. a. article of incorporation b. statement of qualification c. scenario planning d. mission statement

d. mission statement

MaxNutri Inc. sells cookies and nutrition bars. The marketers at MaxNutri are trying to come up with new and attractive packaging designs for its cookies. In this scenario, MaxNutri is working on its _____. a. purchase strategy b. distribution strategy c. advertising strategy d. product strategy

d. product strategy

The first step in the marketing research process is to a. specify the sampling procedures to be followed. b. collect primary data from available sources. c. prepare and present a report. d. recognize a marketing problem or opportunity.

d. recognize a marketing problem or opportunity.

An organization that devises strategies to convince a customer to buy their product despite acknowledging the mismatch between the customer and the product is said to be a _______ organization. a. market-oriented b. customer-oriented c. societal-oriented d. sales-oriented

d. sales-oriented

The research and development team of BB Beverages has discovered that, during the testing process, one of their highly profitable new beverages contains ingredients that may cause liver damage in humans if consumed regularly over time. Additionally, the team also acknowledged that the plant that manufactures this beverage draws healthy groundwater which could cause a water shortage in areas surrounding the plant. Based on these findings, management has halted its production of this beverage until a solution can be found that does not adversely affect its consumers and the environment. Given this decision, it is evident that BB Beverages embraces a ______ orientation. a. production b. sales c. market d. societal marketing

d. societal marketing

Leo buys 5 million sheets of paper from a vendor for his printing firm. He is satisfied with the product, and he orders the same quantity from the same vendor every week. This is most likely an example of a _____. a. initial buy b. new buy c. modified rebuy d. straight rebuy

d. straight rebuy

The Audi commercial I described to you in my lecture in Ch. 5 and showed you in class compared a Chinese woman to a a. new car b. good sound system c. vacuum cleaner d. used car

d. used car

Which of the following statements is true of a target market? a. Aspects of the external environment continually evolve and create changes in a target market. b. Managers can control the external environment that molds and reshapes a target market. c. Environmental scanning is performed by firms to prevent changes in a target market. d. Unlike uncontrollable variables, controllable variables do not affect a target market.

a. Aspects of the external environment continually evolve and create changes in a target market.

Claudia is looking to purchase a good phone. After evaluating her options, she has decided to buy an iPhone, though other brands that have all her required features are offering good value for less money. After buying the iPhone, Julie may experience some conflict because she is worried that the cutting-edge technology, which costs much more than its competitors, will be obsolete in a couple of months. What is the marketing term used to describe this feeling? a. Cognitive dissonance b. Psychological ownership c. Routine response d. General unease

a. Cognitive dissonance

Zinta Co. has launched a new laptop computer with a bigger monitor and big lettered keyboard. The company uses this model to target senior communities and provides discounts. The company targets thirteen cities in the United States with high populations of seniors. This scenario exemplifies which type of market segmentation? a. Geodemographic segmentation b. Psychographic segmentation c. demographic segmentation d. Usage-rate segmentation

a. Geodemographic segmentation

Which statement is true of cause marketing? a. It involves the cooperative efforts of a for-profit firm and a nonprofit organization for their mutual benefit. b. It describes a marketing relationship based on a straight donation. c. It occurs when government agencies and nonprofit agencies launch social campaigns. d. It seldom helps companies increase the sale of their products.

a. It involves the cooperative efforts of a for-profit firm and a nonprofit organization for their mutual benefit.

Drafi Arts Corp. makes and sells original handicraft products. The management of the company has been successfully using a niche strategy for years. In this case, which of the following is the most likely to be true of Drafi Arts Corp.? a. It serves only a limited geographic market. b. It offers products at a lower price than that of the competition. c. It develops products that are similar to those of its competitors. d. It lowers costs by removing frills and options from its products.

a. It serves only a limited geographic market.

Which of the following statements is true of the marketing concept? a. It states that an organization should satisfy customer wants and needs while meeting organizational objectives. b. It overlooks the importance of understanding the competitive arena and strengths and weaknesses of competitors c. It states that firms should give maximum importance to aggressive promotional and advertising activities. d. It states that marketing solely means selling things and collecting money.

a. It states that an organization should satisfy customer wants and needs while meeting organizational objectives.

Which information source is associated with advertising or promotion? a. Marketing-controlled b. Family recommendations c. Nonmarketing-controlled d. Internal information search

a. Marketing-controlled

The KitKat bar has only one flavor in the US, while in Japan there are more than 300. This is an example of a. Product invention b. Promotion adaptation c. Product promotion d. Global marketing standardization

a. Product invention

The first step in segmenting a market is a. Select a market or product category for study b. Choose a basis or bases for segmentation c. Select segmentation descriptors d. Profile and analyze segments

a. Select a market or product category for study

In the context of the Boston Consulting Group (BCG) portfolio matrix, which of the following is true of SBUs considered to be question marks? a. They operate in a high-growth industry with a low market share. b. They generate more cash than they need to maintain their market share. c. They have low growth potential and a small market share. d. They do not require any cash to maintain their market.

a. They operate in a high-growth industry with a low market share.

Which responsibility among the 4 components of the pyramid of corporate social responsibility acts as the foundation for the other three responsibilities? a. To make profits. b. To do what is meticulous. c. To be a good corporate citizen. d. To obey the law.

a. To make profits.

Starlight Jewelry sends Taylor a birthday card along with a pendant as a token of appreciation for shopping frequently at its store. This trend in customer relationship management aims at cultivating its customers by _____. a. acknowledging their loyalty b. implementing technology c. providing time savings d. offering standardization

a. acknowledging their loyalty

L&T, an international manufacturer of electrical and electronic products and systems, also manufactures custom-engineered switchboards for industrial sectors such as power, refineries, petrochemicals, and cement. In the electronic segment, L&T offers a range of meters and provides control and automation systems for industries. The company manufactures __________and markets exclusively to _________. a. business products, business customers b. industrial products, final consumers c. consumer products, businesses d. consumer products, business customers

a. business products, business customers

In the context of SWOT analysis, marketers can identify strengths and weaknesses by focusing on: a. employee capabilities. b. aspects of the marketing environment. c. demographic forces. d. macroenvironmental factors.

a. employee capabilities.

Lydia usually does not spend much time selecting gifts. However, when choosing a fountain pen as a birthday gift for her husband this year, she visited several stores and spent a lot of time asking the sales staff about different features of the pen before making her purchase. This scenario illustrates _____. a. high involvement b. low involvement c. routine response behavior d. socialization

a. high involvement

Unlike external stimuli, internal stimuli: a. include stimuli such as hunger and thirst. b. do not have multiple sources. c. cannot be satisfied through purchases. d. include stimuli such as advertisements and videos.

a. include stimuli such as hunger and thirst.

According to the Ansoff strategic opportunity matrix, a firm using the market penetration alternative would try to: a. increase market share among existing customers. b. attract new customers to existing products. c. create new products for present markets. d. introduce new products into new markets.

a. increase market share among existing customers.

Sarah asks 10-year-old Joey and 8-year-old Isabel where they would like to go on their next family vacation: She considers their responses in making her decision about where they will go. This is an example of how children _____ family decisions. a. influence b. control c. initiate d. learn from

a. influence

The first step in the consumer decision process is a. need recognition b. information search c. alternative evaluation d. purchase

a. need recognition

Social influences on consumer behavior include all EXCEPT a. personality b. aspirational reference groups c. primary reference groups d. secondary reference groups

a. personality

Kirksand Airlines is well known for providing excellent customer service to its flyers. The staff members inquire about the wants and needs of each flyer, and listen carefully to their responses. If a flyer has any specific requests, the staff members ensure that they are immediately attended to. In this scenario, Kirksand Airlines illustrates _______________, which has been found successful in spurring on the growth of customer relationship management. a. personalization b. mass marketing c. loyalty d. technology

a. personalization

At Magnira Corp., a company that manufactures fruit preserves, fruits of excellent quality are used to make jams, jellies, and marmalades. In this scenario, Magnira Corp. is a _____. a. producer b. institutional customer c. government contractor d. retailer

a. producer

Firm XYZ is known for adopting a strategy that focuses on designing new products based on their assessment of the capabilities of their engineers and on the easy availability of resources. This approach, which emphasizes the ease of production and the talents of company employees rather than the needs and wants of the marketplace, can be attributed to its ______ orientation. a. production b. sales c. market d. societal

a. production

Anex Textiles, Inc. manufactures cloth and buys the chemical dyes for its use from Werth Chemicals, Inc. Werth Chemicals, Inc., in turn, buys uniform material for its employees from Anex textiles Inc. This scenario highlights a specific business practice known as ______________. a. reciprocity b. trust c. reselling d. relationship commitment

a. reciprocity

The first step in creating a global marketing mix is to a. research the target market b. decide on a price c. develop an ad campaign d. determine a distribution strategy

a. research the target market

Company websites, annual reports, reports to stockholders, blogs, YouTube videos, and social media posts are examples of ___________. a. secondary data b. primary data c. tertiary data d. marketing research

a. secondary data

In the context of a marketing mix, the product includes: a. the name of the brand. b. the point of purchase. c. the elements of advanced strategic planning. d. personal selling.

a. the name of the brand.

My lecture on Ch. 4 included a description of demographic trends worldwide. Which of these is a current trend? a. the population is aging as fertility rates decrease and life expectancy rises b. decreasing numbers of people live in urban areas c. fertility rates are rising d. immigration is slowing and refugees are rare

a. the population is aging as fertility rates decrease and life expectancy rises

Which of the following is NOT true about culture from the perspective of a global marketer? a. Culture underlies the family, the educational system, religion, and the social class system. b. A company can easily succeed in another country without knowing anything about the culture of that country. c. Cultural blunders lead to misunderstandings and often perceptions of rudeness or even incompetence. d. Culture is the common set of values shared by its citizens that determines what is socially acceptable.

b. A company can easily succeed in another country without knowing anything about the culture of that country.

Synergy Corp., a large seller of energy-efficient light bulbs, uses extensive promotional strategies to stimulate sales. Marketers at Synergy Corp. have noticed that a competitor is steadily gaining market share, and they want to counter the competition immediately by increasing the sales of Synergy Corp. bulbs. Given the situation, which of the following is the quickest step that Synergy marketers can take to stimulate the sales of its products? a. Creating complex production techniques b. Changing the pricing strategy c. Entering into new supplier contracts d. Adopting a divesting strategy

b. Changing the pricing strategy

_____ is when a business is concerned for the long-range welfare of both the company and its relationship to the society within which it operates. a. Preconventional morality b. Corporate social responsibility c. Moral relativism d. Philanthropy

b. Corporate social responsibility

A firm should have a code of ethics because it will help with all of the following EXCEPT: a. Helps employees identify acceptable business practices b. Helps managers maximize profits c. Avoids confusion in decision making d. Facilitates discussion among employees about right and wrong

b. Helps managers maximize profits

__________ is the process of anticipating future events and determining strategies to achieve organizational objectives in the future. a. Divesting b. Planning c. Holding d. Harvesting

b. Planning

Nile Inc. is one of the leading shoe manufacturing companies in Baltonia. It manufactures canvas shoes that are similar to those produced by other brands. The management of the company has decided to adopt a product-service differentiation competitive strategy. In this scenario, what would Nile be likely to do? a. Offer its products at the lowest rates in the market b. Produce aerobic, tennis, and baseball shoes that have specialized features c. Advertise their products through more media outlets than before d. Sell products to markets outside Baltonia

b. Produce aerobic, tennis, and baseball shoes that have specialized features

Fresnas Inc., an oil refinery, converts crude oil into various products such as gasoline, kerosene, and diesel. Fresnas Inc. then sells these products to other companies or retailers. Based on this information, which segment of the business market is most likely represented by Fresnas Inc.? a. Resellers b. Producers c. Distributors d. Marketers

b. Producers

Once known as a rugs brand, in 2006 Burberry revamped its product line to reinvent itself as a luxury brand by harnessing the power of heritage. Which strategy did Burberry use to influence the overall perception of its brand in the eyes of its old and potential new customers? a. Multisegment marketing b. Repositioning c. low price d. value for the money

b. Repositioning

Which of the following refers to the idea that socially responsible companies will outperform their peers by focusing on social problems and viewing them as opportunities to build profits and help the world at the same time? a. Philanthropy b. Sustainability c. Social regulations d. Stakeholder theory

b. Sustainability

Two primary determinants of any consumer market are a. life expectancy and population b. Wealth and population c. Education and occupation d. Occupation and population

b. Wealth and population

Which of the following is an example of an open-ended question? a. Would you consider adopting children? b. What do you think about the new ice-cream flavor? c. Have you tried the new ice-cream flavor? d. Do you want to have children?

b. What do you think about the new ice-cream flavor?

In the consumer decision process, an evoked set is a. all the brands a consumer researches in a purchase decision process b. a group of brands resulting from an information search from which a buyer can choose c. a group of brands purchased on impulse d. all the brands in a product category

b. a group of brands resulting from an information search from which a buyer can choose

A statement of what is to be accomplished through marketing activities is called __________. a. the marketing mix b. a marketing objective c. market opportunity analysis d. a competitive advantage

b. a marketing objective

Fournotts Printing Inc. manufactures and sells photocopiers, printers, and scanners to various corporate offices. This is an example of _____. a. consumer marketing b. business marketing c. licensing d. franchising

b. business marketing

The main advantage of primary data is that it: a. is inexpensive to collect. b. can answer specific research questions that secondary data cannot answer. c. consists of data that is easily available to any interested party. d. is already processed and analyzed.

b. can answer specific research questions that secondary data cannot answer.

Synapse, a functional drink that purportedly helps increase focus and alertness, was initially targeted at serious gamers. This is a _____ targeting strategy. a. multisegment b. concentrated c. undifferentiated d. differentiated

b. concentrated

The relationship between benefits and the sacrifice necessary to obtain those benefits is known as_____. a. teamwork b. customer value c. customer satisfaction d. empowerment

b. customer value

Fresnas Cuisine, a restaurant chain, recently introduced fast food on its menu because management recognized that their customers are predominantly young people. This scenario illustrates how _____ influence marketing decisions. a. economic factors b. demographic factors c. legal factors d. ethical factors

b. demographic factors

Wesley Electronics Inc. manufactures electronic gadgets. Its marketing team spent a great deal of money on advertising to create awareness about its products among potential customers and employs a variety of methods, such as print, broadcast, and online advertising. According to the steps involved in segmenting a market, Wesley Electronics most likely is: a. selecting a market or product category for study. b. designing and implementing its marketing mix. c. profiling and analyzing market segments. d. selecting segmentation descriptors for a market.

b. designing and implementing its marketing mix.

Trower Inc. has launched a new smartphone in two different versions. One version is top-of-the-line and quite expensive, and the other version has fewer features and is more affordable. Trower Inc. is most likely using __________________________. a. usage-rate segmentation b. income segmentation c. gender segmentation d. age segmentation

b. income segmentation

The management of GH Apparel has thoroughly analyzed the market and recognizes the wants and needs of different customer groups. It takes all these findings into consideration and develops different types of goods that cater to each group. From this scenario, it is evident that GH Apparel is a ______ organization. a. societal-oriented b. market-oriented c. production-oriented d. sales-oriented

b. market-oriented

Nalpas Inc., an apparel company, manufactures clothes for adults and children. It further divides its core customers according to demographic variables such as income, ethnic background, and family life cycle. These demographic variables are examples of _____. a. product segments b. segmentation bases c. product categories d. market segments

b. segmentation bases

Joshua is a millionaire, and he manages several successful companies. He usually interacts with people of similar status. Given this information, Joshua and the people he interacts with are part of a _____. a. family b. social class c. popular culture d. community

b. social class

Jorge prefers to do his grocery shopping at Fresnas Mart because his mother also prefers to shop there. He also does not shop for groceries online because his mother does not. In this case, his shopping behavior is a result of _____. a. the want-got gap b. the socialization process c. cognitive dissonance d. the decision-making process

b. the socialization process