Marketing Principles Exam 1

Fun-Spot Amusement Park represents a high-growth, high market share business. According to the BCG matrix, it can be classified as a ________.* Star Bear Question mark Cat Dog

Star

What is the most widely used method of primary data​ collection? Question content area bottom Part 1 A. Surveys and questionnaires B. Experimental research C. Focus groups D. Group interviews E. Observation

Surveys and questionnaires

Shoez Inc., a manufacturer of shoes, has recently launched a brand of sturdy shoes ideal for hiking and other outdoor activities. Which of the following brand personalities could be best associated with the new brand?* sincerity sophistication competence excitement ruggedness

ruggedness

According to the BCG​ matrix, ______ are​ high-share, high-growth products. When the market growth​ slows, these products become​ ________.

stars; cash cows

Many companies use ethnically specific themes in their mainstream marketing strategy because marketers have realized that insights gleaned from ethnic consumers can influence their broader markets. This type of marketing is known as ________.* social networking word-of-mouth marketing total market strategy buzz marketing life-style marketing

total market strategy (cross-culture)

The four Ps of the marketing mix are redefined in customer terms as the four As. What are the four As of the marketing​ mix? Question content area bottom Part 1 A. ​Acceptability, accessibility,​ awareness, advantage B. ​Approaches, added​ incentives, accessibility, awareness C. Added​ incentives, advantage,​ aptitude, alternatives D. ​Affordability, accessibility, added​ incentives, awareness E. ​Acceptability, affordability,​ accessibility, awareness

​Acceptability, affordability,​ accessibility, awareness

What are the four major influences on business buyer​ behavior? Question content area bottom Part 1 A. ​Environmental, technological,​ interpersonal, and individual B. ​Environmental, organizational,​ interpersonal, and societal C. ​Societal, organizational,​ interpersonal, and individual D. ​Environmental, organizational,​ cultural, and individual E. ​Environmental, organizational,​ interpersonal, and individual

​Environmental, organizational,​ interpersonal, and individual

Life-stage changes usually result from ________.* life-changing events mentors siblings friends birthdays

life-changing events

When marketers differentiate and position their market​ offerings, they must decide on which of the​ following? Question content area bottom Part 1 A. A value proposition B. A profitable segment C. A profit goal D. A segmentation strategy E. A target market

a value proposition

Every Monday a pizzeria places the same order with its supplier for pepperoni. Management has​ changed, and now they want to change the order specifications to a better quality pepperoni. Which type of buying situation does this​ represent? Question content area bottom Part 1 A. A straight rebuy B. A new task situation C. A consumer transaction D. A modified rebuy E. Systems selling

A modified rebuy

Which of the following companies has a product-oriented business definition?* A luxury hotel, whose business definition is: "We sell out-of-the-world experiences to our guests." A cosmetic company, whose business definition is: "We offer hope and self-expression." A shoe manufacturer, whose business definition is: "We manufacture affordable and long-lasting shoes for all." A high-technology company, whose business definition is: "We sell inspirations." A real estate company, whose business definition is: "We sell dreams."

A shoe manufacturer, whose business definition is: "We manufacture affordable and long-lasting shoes for all."

Engaging customers and managing profitable customer relationships is the simplest definition of​ ________. Question content area bottom Part 1 A. marketing B. advertising C. a market D. value E. satisfaction

A. Marketing

marketing is perhaps the​ fastest-growing digital marketing platform. Question content area bottom Part 1 A. Mobile B. ​Real-time C. Sustainable D. Social media E. Online social

A. Mobile

The first step to a successful​ value-driven marketing strategy is to determine whom to serve with a market offering. To make this​ decision, marketers engage in which two​ activities? Question content area bottom Part 1 A. Segmenting and targeting B. Targeting and positioning C. Customer management and demand management D. Segmenting and customer management E. Segmenting and demand management

A. Segmenting and targeting

What is customer​ equity? Question content area bottom Part 1 A. The total combined lifetime values of all the​ company's current and potential customers B. When a customer takes an active role in shaping product and brand content C. The share of a​ customer's purchases in the​ company's product categories D. Actions by which satisfied customers initiate favorable interactions with others about a brand E. The value of the entire stream of purchases a customer makes over a lifetime of patronage

A. The total combined lifetime values of all the​ company's current and potential customers

Which of the following statements regarding the changing marketing landscape is​ correct? Question content area bottom Part 1 A.Digital technology has changed the way we live. B.Due to​ COVID-19, the shift to the use of digital technologies in marketing has slowed. C. Global competition only affects marketing in large companies. D. Nonprofit organizations do not need to engage in marketing strategy. E. Government agencies have cut back on their marketing activities.

A.Digital technology has changed the way we live.

Which customer group is potentially profitable but not​ loyal? Question content area bottom Part 1 A.Strangers B.Butterflies C.Barnacles D.True friends E.True believers

B.Butterflies

Which of the following correctly identifies the five core customer and marketplace​ concepts? Question content area bottom Part 1 A. ​(1) Needs​, wants​, and demands​; ​(2) Market​ offerings; (3)​ Value; (4) Satisfaction​; and ​(5) Markets B. ​(1) Needs; ​(2) Wants; ​(3) Demands​; ​(4) Market​ offerings; and ​(5) Markets C. ​(1) Needs, wants​, and demands​; ​(2) Market​ offerings; (3) Value and satisfaction​; ​(4) Exchanges and relationships​; and ​(5) Markets D. ​(1) Needs​, wants​, and demands​; ​(2) Products;​ (3) Value;​ (4) Customers; and​ (5) Competitors E. ​(1) Needs​, wants​, and demands​; ​(2) Market​ offerings; (3) Value and satisfaction​; ​(4) Competitors​; and​ (5) Profits

C. ​(1) Needs, wants​, and demands​; ​(2) Market​ offerings; (3) Value and satisfaction​; ​(4) Exchanges and relationships​; and ​(5) Markets

What are the four Ps of​ marketing? Question content area bottom Part 1 A. ​Product, promotion,​ price, packaging B. ​Product, price,​ people, packaging C. ​Product, price,​ place, promotion D. ​Product, price,​ promotion, profit E. ​Product, people,​ price, promotion

C. Product, price,​ place, promotion

Which of the following is NOT a recent trend in the marketing​ landscape? Question content area bottom Part 1 A. The use of artificial intelligence B. Rapid globalization C. The slowing growth of nonprofit marketing D. Caring capitalism E. A focus on sustainable marketing

C. The slowing growth of nonprofit marketing

The demand for organic produce is growing. Green Acres Farms grows only organic vegetables. In a SWOT​ analysis, the rising demand for organic produce would be​ a(n) __________ for Green Acres​ Farms, and the fact that they grow only organic vegetables is​ a(n) __________. Question content area bottom Part 1 A. ​opportunity; threat B. ​opportunity; opportunity C. ​opportunity; strength D. ​threat; strength E. ​strength; opportunity

C. opportunity; strength

The marketing department of a reputable firm wants to improve strategic decision making, track the actions of other players in the market, and provide early warning of opportunities and threats. Which of the following would help the firm achieve its objectives?* Strategic planning Customer relationship management Ethnographic research Competitive marketing intelligence Data warehousing

Competitive marketing intelligence

Within a company, who is most likely to perform strategic planning?* The president and vice presidents Cross-functional teams of divisional managers close to their markets The manufacturing and production departments The accounting and finance departments The marketing and sales departments

Cross-functional teams of divisional managers close to their markets

Which of the following is an insight that drives customer-driven marketing?* Customers don't know what is possible Customers are unaware of their needs Companies understand customer needs even better than customers themselves do Customers know what they want Products are created that meet both existing and latent needs, now and in the future

Customers know what they want.

Starbucks is opening Princi Bakery and​ Café shops, which offer artisan Italian food. Which growth strategy is Starbucks​ pursuing? Question content area bottom Part 1 A. Market development B. Product development C. Divestment D. Diversification E. Market penetration

D. Diversification

involves evaluating each market segments attractiveness and selecting one or more segments to enter. Question content area bottom Part 1 A. Marketing mix B. Market differentiation C. Market segmentation D. Market targeting E. Market positioning

D. Marketing Targeting

A​ firm's suppliers,​ distributors, and even customers that all partner to improve performance and deliver customer value is known as the​ ________. Question content area bottom Part 1 A. guiding philosophy B. value chain C. supply chain D. value delivery network E. partner relationship management system

D. value delivery network

What is the first step in the marketing research​ process? Question content area bottom Part 1 A. Implement the research plan. B. Define the problem. C. Develop a research plan. D. Report the findings. E. Interpret the findings.

Define the problem.

Which of the following statements about segmentation is​ true? Question content area bottom Part 1 A. Different segments might require different marketing strategies or mixes. B. Buyers within a market segment have different​ needs, characteristics, and behaviors. C. Most companies today mass market and do not segment their markets. D. Market segmentation is part of a​ company's value proposition. E. Segmentation identifies individual buyers that can be targeted with a market offering.

Different segments might require different marketing strategies or mixes.

The​ Coca-Cola Company sells​ beverages, ranging from soft drinks to juices to bottled​ water, to a variety of different segments. Which targeting strategy is​ Coca-Cola using? Question content area bottom Part 1 A. Undifferentiated marketing B. Local marketing C. Concentrated marketing D. Differentiated marketing E. Individual marketing

Differentiated marketing

Which of the following statements regarding​ B-to-B digital and social media marketing is​ correct? Question content area bottom Part 1 A. Neither digital nor social media are engaging for business buyers and sellers. B. Digital and social media facilitate​ anytime, anywhere connectivity. C. Digital and social media can only be used for consumer products. D. Digital and social media require more​ in-office sales calls. E. ​B-to-B marketers use digital​ media, but avoid social media.

Digital and social media facilitate​ anytime, anywhere connectivity.

Which growth strategy seeks to increase sales to current customers without changing the​ product? Question content area bottom Part 1 A. Diversification B. Portfolio analysis C. Market development D. Product development E. Market penetration

E. Market Penetration

Brianne just started a new position as the marketing manager at a larger firm. After evaluating their marketing​ efforts, she realized the firm was trying to serve everyone and not doing a good job of serving anyone. Now Brianne needed to convince upper management that the firm should focus more on select customers. This practice is called​ ________. Question content area bottom Part 1 A. building exchange relationships B. the marketing concept C. choosing a value proposition D. marketing myopia E. target marketing

E. Target Marketing

Mary is hungry and chooses to go to McDonalds for a salad.​ Mary's hunger is a​ _______ and her choice of a salad is a​ _______. Question content area bottom Part 1 A.demand; want B.want; need C.want; demand D.need; demand E.need; want

E.need; want

Which adopter group is most likely to be an opinion leader in their​ community? Question content area bottom Part 1 A. Innovators B. Early mainstream adopters C. Late mainstream adopters D. Early adopters E. Lagging adopters

Early adopters

________ refers to gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses. * Experimental research Descriptive research Constructive research Observational research Survey research

Experimental research

Which type of research is used for gathering preliminary information that will help further define the research​ questions? Question content area bottom Part 1 A. Descriptive research B. Exploratory research C. Causal research D. Experimental research E. Ethnographic research

Exploratory research

Human needs are shaped by culture and individual personality.* True False

False

Subcultures consist only of religious groups.* True False

False

What is the first thing a company does when analyzing​ competitors? Question content area bottom Part 1 A. Select which competitors to attack. B. Assess​ competitor's strengths and weaknesses. C. Assess the​ competitor's objectives and strategies. D. Select which competitors to avoid. E. Identify the​ company's competitors.

Identify the​ company's competitors.

Which of these marketing management functions involves turning strategies into​ actions? Question content area bottom Part 1 A. Implementation B. Planning C. Analysis D. Organization E. Control

Implementation

A university is buying notebook computers for its faculty. The​ university's Information Technology department has been asked to provide specifications and recommendations for this purchase. The IT department is playing which role in the​ university's buying​ center? Question content area bottom Part 1 A. Influencer B. Gatekeeper C. Decider D. Buyer E. User

Influencer

Which of the following correctly identifies the first two adopter groups that adopt a new​ product? Question content area bottom Part 1 A. Early mainstream and late mainstream B. Late mainstream and laggard adopters C. Innovators and early adopters D. Early adopters and early mainstream E. Innovators and laggard adopters

Innovators and early adopters

Which of the following is true about Internet-based survey research?* Internet-based survey research is less flexible compared to mail questionnaires. Internet-based survey research is characterized by high speed and low costs Typically, the quantity of data gathered in Internet-based survey research is low The response rate of Internet-based survey research is lower than that of mail questionnaires The effectiveness of Internet-based survey research is invariably affected by the interviewer's bias.

Internet-based survey research is characterized by high speed and low costs.

There is a growing segment of consumers who want to live a​ simpler, more mobile existence and are opting for tiny homes. This market represents which segmentation​ base? Question content area bottom Part 1 A. Lifestyle B. Age C. Usage rate D. Gender E. Geography

Lifestyle

An organic farmer has identified three distinct groups that might be interested in his products: vegetarians, health-conscious individuals, and people identified as trendsetters who try out new products in the market before others. These three groups are examples of ________.* Marketing intermediaries Market offerings Market segments Marketing mixes Value propositions

Market segments

Orion Inc. operates in many industries, including pharmaceuticals and food products. The company's goal is to create "abundant and affordable food for all and a healthy environment." This represents Orion's ________.* Marketing plan Product mix Mission Statement Business portfolio Marketing mix

Mission Statement

What does the buying process begin​ with? Question content area bottom Part 1 A. Information search B. Evaluation of alternatives C. Purchase D. Cognitive dissonance E. Need recognition

Need recognition

What is the correct order of the five stages in the buyer decision​ process? Question content area bottom Part 1 A. Evaluation of​ alternatives, information​ search, need​ recognition, the purchase​ decision, and postpurchase behavior B. Need recognition​, the purchase​ decision, information search​, evaluation of alternatives​, and postpurchase behavior C. Need recognition​, information search​, evaluation of alternatives​, the purchase decision​, and postpurchase behavior D. Information search​, evaluation of alternatives​, need​ recognition, the purchase decision​, and postpurchase behavior E. Information​ search, need recognition​, evaluation of alternatives​, the purchase decision​, and postpurchase behavior

Need recognition​, information search​, evaluation of alternatives​, the purchase decision​, and postpurchase behavior

Which of the following strategies would be utilized by a market​ challenger? Question content area bottom Part 1 A. Observe what has made the market leader successful and improve on it B. Expand their market share further C. Expand total demand D. Protect their current market share through good defensive and offensive actions E. Find one or more market niches that are safe and profitable

Observe what has made the market leader successful and improve on it

Which value discipline would be recommended for customers who want​ reliable, good-quality products or services but want them cheaply and​ easily? Question content area bottom Part 1 A. Product leadership B. Focus C. Overall cost leadership D. Operational excellence E. Customer intimacy

Operational excellence

​________ are people within a reference group​ who, because of special​ skills, knowledge,​ personality, or other​ characteristics, can socially influence others.

Opinion leaders

What are the three winning competitive positioning strategies proposed by Michael​ Porter? Question content area bottom Part 1 A. Overall cost​ leadership, differentiation, and​ middle-of-the-road B. Entrepreneurial​ marketing, formulated​ marketing, and intrapreneurial marketing C. Operational​ excellence, customer​ intimacy, and product leadership D. Overall cost​ leadership, differentiation, and focus E. Overall cost​ leadership, middle-of-the-road, and focus

Overall cost​ leadership, differentiation, and focus

Which of the following statements is true of social classes?* Social classes are society's temporary divisions. Social classes universally exhibit identical product and brand preferences Income is the single factor that determines social class. People within a social class tend to exhibit similar buying behavior. Members of a social class have unique and distinct values, interests, and behaviors.

People within a social class tend to exhibit similar buying behavior.

What is the final step in the business buyer decision​ process? Question content area bottom Part 1 A. Product specification B. Problem recognition C. Proposal solicitation D. Performance review E. Supplier selection

Performance review

Branscom studied the product defect report from manufacturing and noted that products made with raw materials purchased from Supplier XYZ continued to result in product quality issues. Which stage of the business buyer decision process is Branscom​ in? Question content area bottom Part 1 A. Problem recognition B. Supplier selection C. Product specification D. Proposal solicitation E. Supplier search

Problem Recognition

Railroads were once operated based on the thinking that users wanted trains that would offer the most in quality, performance, and innovative features. The railroad management companies overlooked the fact that there could be other modes of transportation. This reflects the ________ concept.* Production Marketing societal marketing Product Selling

Product

Sunny Brews is a coffeehouse chain based in Boston. It recently introduced Eva, a mild roast, which became immensely popular. This exemplifies ________.* Benchmarking Downsizing Product development Mass customization Diversification

Product development

segmentation divides buyers into different segments based on lifestyle or personality characteristics. Question content area bottom Part 1 A. Behavioral B. Psychographic C. Gender D. Income E. Benefit

Psychographic

When marketers use online commercial databases and internet search engines to collect​ data, what type of data are they​ collecting? Question content area bottom Part 1 A. Primary data B. Secondary data C. Internal data D. Big data E. Ethnographic data

Secondary data

Which of the following is NOT correct regarding companies that are​ competitor-centered? Question content area bottom Part 1 A. The company searches out​ competitors' weaknesses. B. The company watches for weaknesses in its own position. C. The company can become too reactive. D. The company develops a fighter orientation. E. The company watches both customers and competitors.

The company watches both customers and competitors.

Which of the following statements is NOT correct regarding market​ nichers? Question content area bottom Part 1 A. The key idea in niching is standardization. B. Nichers target subsegments of larger markets. C. A nicher can charge a substantial markup over costs because of the added value. D. Nichers can specialize based on​ geography, price-quality,​ service, end​ user, and customer group size. E. To buffer​ risk, many nichers practice multiple niching.

The key idea in niching is standardization.

What determines if a buyer is satisfied or dissatisfied with a​ purchase? Question content area bottom Part 1 A. How others feel about the purchase B. The amount of information gathered in the decision process C. The number of alternatives considered in the purchase decision D. Whether or not they experience cognitive dissonance E. The relationship between consumer expectations and perceived product performance

The relationship between consumer expectations and perceived product performance

What is the overall purpose of​ differentiation? Question content area bottom Part 1 A. To divide the market into smaller groups of buyers B. To allow a firm to offer the lowest prices C. To create superior customer value D. To market high quality products E. To select the segment or segments to enter

To create superior customer value

What are perceptual positioning maps used​ for? Question content area bottom Part 1 A. To compare a​ company's profitability with the profitability of competitors B. To find where to best position a product on a store shelf C. To implement a particular positioning strategy D. To show consumer perceptions of an individual brand on important buying dimensions E. To show consumer perceptions of different brands on important buying dimensions

To show consumer perceptions of different brands on important buying dimensions

Beaux pulled some data from other firms in the same industry so he could assess how well his firm was doing using some key ratios. This comparison is known as​ ________. Question content area bottom Part 1 A. benchmarking B. strategic analysis C. customer value analysis D. a blue ocean strategy E. a SWOT analysis

benchmarking

Harley-Davidson promotes its motorcycles with images of independence, freedom, and power. Harley-Davidson has created a ________.* motive brand personality self-actualization need self-concept life-cycle stage

brand personality

occurs when marketers are so focused on their products that they focus only on existing wants and lose sight of underlying customer need. Question content area bottom Part 1 A. Exchange B. Profit C. Marketing myopia D. Creating value E. Customer satisfaction

c. Marketing Myopia

Jameeka sees a new blouse advertised on social media that she really wants. She decides that when she gets paid on​ Friday, she will buy it. This blouse has become a​ ________ for Jameeka. Question content area bottom Part 1 A.market offering B.need C.demand D.want E.felt deprivation

c. demand

Akira Takano, a marketing manager, is about to test the hypothesis that the sale of a particular product will increase exponentially if there is a $5 drop in the selling price of the product. Akira is involved in ________ research.* constructive ethnographic exploratory causal descriptive

causal

Which of the following refers to a probability sample in which the population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview?* simple random sample cluster sample Quota sample judgment sample stratified random sample

cluster sample

Post​ purchase, consumers may experience​ ________, which is an uneasy feeling about acquiring the drawbacks of the chosen brand and about losing the benefits of the brands not purchased. Question content area bottom Part 1 A. cognitive dissonance B. delight C. dissatisfaction D. satisfaction E. satisficing

cognitive dissonance

A​ ________ is something that allows the firm to distinguish itself from other firms by offering customers greater value. Question content area bottom Part 1 A. competitive marketing strategy B. SWOT C. strategic group D. competitive advantage E. customer value analysis

competitive advantage

The systematic​ monitoring, collection, and analysis of available information about competitors and developments in the marketplace is called​ ________. Question content area bottom Part 1 A. marketing research B. a marketing intelligence ecosystem C. big data D. marketing data E. competitive marketing intelligence

competitive marketing intelligence

Competition can be good for a firm for all of the following reasons EXCEPT . Question content area bottom Part 1 A. competitors may help legitimize new technologies B. competitors may share the cost of product development C. competitors may erode profit margins D. competitors may share the cost of market development E. competitors may serve less attractive market segments

competitors may erode profit margins

is the set of basic​ values, perceptions,​ wants, and behaviors that people learn from family members and other important societal institutions.

culture

Which of the following is the first step in the marketing research process?* defining the problem and objectives of the study developing the research plan implementing the research plan interpreting and reporting the findings developing a marketing information system

defining the problem and objectives of the study

The primary purpose of a strategic plan is to​ ________________. Question content area bottom Part 1 A. design a business portfolio B. build profitable customer relationships C. establish market share objectives D. develop and maintain a strategic fit between a​ company's goals and capabilities and its changing marketing opportunities E. expand into new markets

develop and maintain a strategic fit between a​ company's goals and capabilities and its changing marketing opportunities

A company sent a trained observer to watch and interact with consumers in their natural environments in order to gain deeper insights on consumer needs. This is an example of ________.* survey research experimental research niche marketing ethnographic research viral marketing

ethnographic research

You and seven other people are talking with a trained moderator about your feelings and thoughts about a potential new product. For doing this you receive a small payment. You are participating in​ a(n) __________. Question content area bottom Part 1 A. individual interview B. experiment C. ethnographic study D. immersion group E. focus group interview

focus group interview

Miranda has a meeting scheduled with the supplier development department at a major retailer. She arrived early for the meeting and notified the administrative assistant that she was here for her appointment. The administrative assistant tried to engage Miranda in conversation but she was busy going over her notes. Miranda should have taken the time to chat with the administrative assistant since they could be​ a(n) ________. Question content area bottom Part 1 A. buyer B. influencer C. gatekeeper D. decider E. user

gatekeeper

Burger King sends digital coupons to​ customers' smartphones when they are close to a​ McDonald's location. This is an example of​ ________. Question content area bottom Part 1 A. age and​ life-cycle segmentation B. demographic segmentation C. discrimination D. income segmentation E. hyperlocal social marketing

hyperlocal social marketing

Dollar General and Family Dollar cater to customers using​ ________ targeting. Question content area bottom Part 1 A. age B. income C. ​life-cycle D. behavioral E. geographic

income

Marketing can disrupt the internal value chain and cause conflicts to develop because it can potentially​ _______. Question content area bottom Part 1 A. gain commitment from the entire company to engage customers B. make all departments​ "think consumer" C. align all functional areas with the goal of increasing customer value D. coordinate the efforts of different company departments to deliver customer value E. increase purchasing​ costs, increase​ inventories, cause budget headaches and disrupt production schedules

increase purchasing​ costs, increase​ inventories, cause budget headaches and disrupt production schedules

If demand in a business market does not change much when price​ changes, it is said to be​ ________. Question content area bottom Part 1 A. fluctuating B. constant C. inelastic D. elastic E. derived

inelastic

Companies that use brand ambassadors are most likely involved in ________ marketing.* ambush spam influencer database

influencer

Nike enlisted help from professional​ atheletes, such as Serena Williams and Cristiano​ Ronaldo, to spread positive news about the​ firm's products. This practice is known as​ ________.

influencer marketing

Secondary data consist of ________.* data that does not age information collected for the specific purpose at hand information that already exists somewhere, having been collected for another purpose data that is unreliable and unsuitable for the purpose of making marketing decisions information collected from conducting personal, in-depth interviews

information that already exists somewhere, having been collected for another purpose

To develop needed​ information, marketing information ecosystems utilize​ ________. Question content area bottom Part 1 A. internal​ databases, marketing​ intelligence, and marketing research B. marketing​ managers, information​ users, and internal databases C. internal​ databases, big​ data, and market research D. marketing​ intelligence, marketing​ research, and the marketing environment E. internal​ databases, marketing​ research, and marketing managers

internal​ databases, marketing​ intelligence, and marketing research

Which of the following is NOT a method of gathering good marketing intelligence?* interviewing competitors' employees to learn as much "inside information" as possible setting up digital centers that monitor brand-related online consumer and marketplace activity purchasing merchandise from competing sites to analyze and compare their assortment, speed, and service quality searching specific competitor names, events, or trends to see what comes up sending out teams of trained observers to mingle with customers

interviewing competitors' employees to learn as much "inside information" as possible

According to the​ text, the three major public policy and ethical issues in marketing research are​ ________. Question content area bottom Part 1 A. intrusions on consumer​ privacy, data security and​ protection, and unsafe products B. improper sampling​ procedures, intrusions on consumer​ privacy, and the misuse of research findings C. intrusions on consumer​ privacy, data security and​ protection, and the misuse of research findings D. international​ research, the misuse of research​ findings, and intrusions on consumer privacy E. the misuse of research​ findings, data security and​ protection, and deceptive advertising

intrusions on consumer​ privacy, data security and​ protection, and the misuse of research findings

ALDI grocery stores are known for their​ super-low prices with limited product selection and limited service. Which value proposition is ALDI​ using? Question content area bottom Part 1 A. More for the same B. More for less C. Less for much less D. More for more E. The same for less

less for much less

In balancing customer and competitor​ orientations, it is best that a company be​ ________-centered. Question content area bottom Part 1 A. profit B. product C. customer D. competitor E. market

market

Lark Inc., an American electronics company, is currently reviewing new geographical markets to sell its highly popular televisions. By 2025, it plans to open new stores across all the major South Asian cities. Lark is most likely following a ________ strategy.* Product development Local marketing Diversification Market development Product adaptation

market development

The business buyer decision process starts with​ ________ and ends with​ ________. Question content area bottom Part 1 A. problem​ recognition; supplier selection B. problem​ recognition; a performance review C. proposal​ solicitation; a performance review D. supplier​ search; supplier selection E. proposal​ solicitation; supplier selection

problem​ recognition; a performance review

Companies that define their missions in terms of products or technologies are considered myopic primarily because ________* Consumer preferences for different product categories vary from time to time Products and technologies result in low returns on investment Products and technologies eventually become outdated Most consumers are not comfortable using sophisticated technology during the buying process Consumer preferences with regard to products and technology are difficult to predict

products and technologies eventually become outdated

A purse​ company's ads feature the cast of a popular reality show. Product sales increase significantly among the fans. From the​ fans' viewpoint, the cast is​ a(n) __________. Question content area bottom Part 1 A. opinion leader B. subculture C. membership group D. social network E. reference group

reference group

Mark has long supported a particular brand of footwear and has always bought that brand. Recently, the footwear manufacturer was embroiled in a controversy for using child labor at its manufacturing plants. Mark doubts the news reports and continues to purchase the same brand of footwear. It is most accurate to say that Mark displays ________.* cognitive dissonance selective retention selective distortion selective attention consumer ethnocentrism

selective distortion

What are the three objectives a marketing research project could​ have? Question content area bottom Part 1 A. ​Descriptive, explanatory, causal B. ​Exploratory, descriptive, causal C. ​Primary, secondary, internal D. ​Causal, explanatory, internal E. ​Exploratory, descriptive, primary

​Exploratory, descriptive, causal

Items such as technical​ specifications, quantities, delivery​ times, return​ policies, and warranties are included in the​ ________. Question content area bottom Part 1 A. ​order-routine specification B. proposal solicitation C. supplier selection D. general need description E. product specification

​order-routine specification