Marketing Midterm Medvedeva

________ are moral principles and values that govern the actions and decisions of an individual or group. Multiple Choice Norms CEOs Personal Rights Safety Officers Ethics

Ethics

Promotion and advertising are aspects of marketing closely monitored by the Multiple Choice National Futures Association. U.S. Department of Commerce. Federal Trade Commission. U.S. Supreme Court. Sherman Antitrust Panel.

Federal Trade Commission

Which of these is a reason that a buyer will have high levels of power in transactions with a seller? Multiple Choice The product is essential to the buyer. There are no other suppliers of the product. The product is inexpensive. There are few other buyers. There are high switching costs for the buyer.

There are few other buyers

Which of these is an example of green marketing? Multiple Choice 3M created a new petrochemical-based fertilizer for trees. McDonald's added apple snacks to its Happy Meals for children. Walmart issued a supplier requirement for cups made from polystyrene to save money. Xerox designed equipment that can be refurbished or recycled. Joe's Lawn Service is offering a special spring promotion.

Xerox designed equipment that can be refurbished or recycled.

COVID-19 and the resulting shutdowns and mask mandates had dramatic impacts on most businesses, resulting in contractions of many but expansion for others. The pandemic and related restrictions would be considered Multiple Choice an environmental force. a market effect. the intangible environment. social responsibility. time value of money.

an environmental force

Marketers can identify key trends such as the growing popularity of personal shoppers, the increasing emphasis on reuse rather than disposal of products and resources, and the importance of new e-commerce purchasing alternatives by conducting Multiple Choice an organizational inquiry. primary research. a threat assessment. an environmental scan. a trend analysis.

an environmental scan

The market leader for a low-involvement product must make special efforts to Multiple Choice avoid stockout situations which would result in switching behavior. get information to the consumer through search engine optimization efforts. focus on promotions that would encourage buyers to break their habits. design a marketing mix to get the product into a buyer's consideration set. introduce novel buying criteria to stimulate curiosity.

avoid stockout situations which would result in switching behavior.

When consumers purchase selected books at its stores and online, Barnes & Noble directs part of that revenue toward programs that support literacy. This is an example of Multiple Choice utility economics. sustainable development. green marketing. utilitarianism. cause marketing.

cause marketing

The chief marketing officer is considered part of which organizational level? Multiple Choice board of directors strategic business unit level CMOs are not considered part of an organizational level, since their role is strategic. corporate level functional level

corporate level

A primary challenge for marketers in discovering the needs of prospective customers is that Multiple Choice customers may not know or be able to describe what they need and want it is hard to establish relationships with consumers that have not already tried the products. this may alert competitors to new ideas before their launch. some of them may be difficult to develop into products. customers are often difficult to persuade.

customers may not know or be able to describe what they need and want

When you begin your first full-time job, you have a monthly income of $4,500. Your federal and state taxes are $1,000. You pay $1,600 in rent, have a $300 car payment, and spend $300 on food and $200 on clothes. The remaining $1,100 would be considered your Multiple Choice net income. gross income. disposable income. earned income after taxes. discretionary income.

discretionary income

When its beer sales were flat, Budweiser became interested in entering the premixed cocktail segment by providing a product that would appeal to those who don't enjoy traditional beer. It launched Bud Light Lime-A-Rita, a margarita-flavored, beer-based cocktail, sold in cans and bottles and best served over ice. This is an example of Multiple Choice product penetration. market penetration. diversification. product innovation. market development.

diversification

Violations of written or implicit employment agreements with noncompete clauses are considered Multiple Choice moral idealism. bribery. economic espionage. utilitarianism. competitive but fair business practice.

economic espionage

Opinion leaders are considered to be ________Blank, so their opinions influence others' choices. Multiple Choice active, experimental, and embracing of risk knowledgeable about or users of particular products ethical and principled in their actions successful in business or otherwise possessing high status highly connected to others in social terms

knowledgeable about or users of particular products

The outdoor brand The North Face intends to capture some of its competitors' business in Europe in the next few years, even amid the stagnant economic conditions there. The firm cites the active lifestyles there and the relatively low cost of entry for its backpacking and hiking sports gear, which attracts those planning a low-budget "staycation." The North Face most likely has a __________ goal. Multiple Choice social responsibility sales revenue profit responsibility unit sales market share

market share

Your marketing dashboard shows sales performance by SBU, which is an example of a ________. Multiple Choice Gantt chart marketing plan planning gap marketing metric linear extrapolation

marketing metric

The Four Ps of the marketing mix include product, price, promotion, and Multiple Choice persuasion. process. place. profit. performance.

place

During which stage of the purchase decision process do consumers determine how satisfied they are with their purchases? Multiple Choice alternative evaluation postpurchase behavior routine problem solving information search problem recognition

post-purchase behavior

Emilio used the Consumer Reports website to research an economical choice for a new smoothie blender for his apartment, and he trusted the information because the website was not affiliated with the sellers of these products. This is an example of which type of information source? Multiple Choice marketer-dominated source public source family source consumer-controlled source personal source

public source

Mohammed cracked the glass on his smartphone. He had hoped it was just the screen protector, but he saw that he really could not do much with his phone in that condition. Mohammed knew he'd need to get a new one; he had just begun the Multiple Choice stages of consumption. VALS typology. usage buying sequence. consumer purchase procedure. purchase decision process.

purchase decision process

An Iowa corn farmer operates in which form of competition? Multiple Choice oligopoly cross-market competition pure competition monopolistic competition monopoly

pure competition

In BCG's business portfolio analysis, __________Blank require large injections of cash just to maintain their market share, much less increase it. Thus managers must choose the right ones to invest in and phase out the rest. Multiple Choice dogs stars question marks cash cows lions

question marks

Orbit wheels are a cross between a skateboard and pair of inline skates. Riders insert each foot in a large wheel that rotates sideways. Orbitwheels differ from a skateboard in that they are self-propelled by the rider's wave-like motion so the need to push off the ground every few feet to get moving is eliminated. The product has been popular among some kids, especially athletic teen boys. Athletic teen boys could be described as the ________ for Orbit wheels. Multiple Choice mass market target market penetration market market aggregation tangential market

target market

According to ________, consumers have the right to choose and the right to be heard, among others. Multiple Choice the standard Code of Ethics the Sherman Antitrust Act the Consumer Bill of Rights sustainable development utilitarianism

the Consumer Bill of Rights

Patagonia's Worn Wear program, which encourages its customers to repair, trade, and eventually recycle all of its products, is an application of Multiple Choice' profit maximization. the societal marketing concept. organizational buying. environmental forces. market segmentation.

the societal marketing concept