Marketing test 1 chapter 1-5

According to your text, what is typically the first sign of a problem that could prompt the marketing research process? a. Increasing sales b. Declining market share c. A departure from some normal function d. Declining sales e. Increasing employee turnover

A departure from some normal function

Which of the following is the last step of establishing a marketing implementation timetable? a. Identifying the activities to be performed b. Assigning responsibility for completing each activity to one or more employees, teams, or managers c. Organizing activities in the proper order d. Determining the time required to complete each activity e. Separating the activities to be performed in sequence from those to be performed simultaneously

Assigning responsibility for completing each activity to one or more employees, teams, or managers

Which of the following creates the greatest privacy issues? a. Database b. Primary data c. Big data d. Single-source data e. Secondary data

Big data

Which of the following types of competition are geared toward market products with similar features and benefits to the same customers at similar prices? a. Product competitors b. Monopolistic competitors c. Brand competitors d. Total budget competitors e. Generic competitors

Brand competitors

Which of the following is NOT a component of the marketing plan? a. Business analysis b. Marketing implementation c. SWOT analysis d. Marketing strategies e. Executive summary

Business analysis

Which of the following is a brand competitor for Dr Pepper? a. Starbucks coffee b. Coca-Cola c. Almonds d. Honest Tea e. Tap water

Coca-Cola

Anthony works at a local electronics retailer. He has two customers in particular that he sees regularly. One customer, Mr. Johnson, comes in frequently asking about new deals. However, he rarely buys anything, and when he does buy something it is usually small. The other customer, Mr. Montoya, comes in a little less frequently. He does not purchase products all the time, but when he does the products are expensive. Anthony recognizes that Mr. Montoya is a more valuable customer over time than Mr. Johnson. He has therefore worked hard to develop a strong relationship with Mr. Montoya. What marketing method is Anthony most likely using to direct his actions? a. The marketing concept b. Customer lifetime value c. A customer loyalty program d. A sales orientation e. Customer feedback

Customer lifetime value

Which of the following equations describes customer value? a. Customer value= customer benefits - opportunity costs b. Customer value= customer benefits - customer costs c. Customer value= customer costs - customer benefits d. Customer value= income - price e. Customer value= customer benefits - price

Customer value= customer benefits - customer costs

Which of the following is a collection of information arranged for easy access and retrieval? a. Big data b. Database c. Marketing information system d. Single-source data e. Marketing decision support system

Database

Which marketing research process step requires formulating a hypothesis and determining what type of research is most appropriate for testing it? a. Locating and defining issues or problems b. Collecting data c. Interpreting research findings d. Designing the research project e. Reporting research findings

Designing the research project

_______ is a ready source of buying power. a. Credit b. Income c. Disposable income d. Discretionary income e. Willingness to spend

Disposable income

Which of the following involves observation; secondary sources such as business, trade, government, and general-interest publications; and marketing research? a. Technology scanning b. Environmental approach c. Proactive approach d. Environmental scanning e. Environmental analysis

Environmental scanning

What is the first step for marketers in implementing the marketing concept? a. Develop a feedback system so customers can describe their thoughts about a product b. Engage in personal selling or advertising to promote products that customers desire c. Modify a communication system that allows information to be disseminated throughout the organization d. Establish an information system to discover customers' real needs e. Modify existing products to meet customer needs more effectively

Establish an information system to discover customers' real needs

Which of the following is NOT one of the steps in strategic performance evaluation? a. Establishing performance standards b. Modifying the marketing strategy, if necessary c. Establishing a timetable for implementation d. Measuring actual performance e. Comparing actual performance with established standards

Establishing a timetable for implementation

Which of the following provides an overview of the entire marketing plan so that readers can quickly identify the key issues and their roles in the planning and implementation process? a. Executive summary b. SWOT analysis c. Marketing implementation d. Performance evaluation e. Environmental analysis

Executive summary

Which of the following has the main purpose of better understanding a problem or situation and/or helping to identify additional data needs or decision alternatives? a. Conclusive research b. Exploratory research c. Descriptive research d. Focus groups e. Experimental research

Exploratory research

Which of the following regulatory agencies has the greatest influence over marketing activities? a. Food & Drug Administration b. Federal Trade Commission c. Better Business Bureau d. National Advertising Review Board e. Consumer Product Safety Commission

Federal Trade Commission

Which of the following is NOT a purpose of marketing research? a. Inform an organization about customers' needs and desires b. Increase the marketer's ability to respond to customer needs c. Inform an organization about changing attitudes and purchase patterns of customers d. Inform an organization about marketing opportunities for products e. Gather random data

Gather random data

Which of the following is most closely related to the political forces of the marketing environment? a. Sociocultural forces b. Technological forces c. Competitive forces d. Legal and regulatory forces e. Economic forces

Legal and regulatory forces

Which of the following is used most often when the individuals in the sample are spread over a wide area and funds for the survey are limited? a. On-site computer interview b. Mail survey c. Telephone survey d. Personal interview survey e. Shopping mall intercept interview

Mail survey

Which of the following competitive growth strategies strives to increase sales of current products in new markets? a. Market penetration b. Diversification c. Market share d. Product development e. Market development

Market development

Which of the following is based on the philosophy that a product's market growth rate and its market share are important considerations in determining marketing strategy? a. Product-market matrix b. Market growth/market share matrix c. Sales analysis d. Mission-goal matrix e. SWOT analysis

Market growth/market share matrix

The marketing concept is based upon the idea that an organization should try to provide products that satisfy customers' needs through a coordinated set of activities that also allows the organization to achieve its goals. During which orientation (time period) are marketers most likely to adopt the marketing concept? a. Sales orientation b. Exchange orientation c. Promotion orientation d. Market orientation e. Production orientation

Market orientation

Which of the following is a major benefit of marketing? a. Marketing knowledge enhances consumer awareness. b. Marketing activities do not take up much time. c. Marketing activities are relatively low in cost. d. Marketing is the most important function of a business. e. Marketing prevents the sale of harmful products.

Marketing knowledge enhances consumer awareness.

Which of the following provides a uniform marketing vision for the firm and is the basis for internal communications? a. Marketing strategy b. Performance standard c. Mission statement d. Target market e. Marketing plan

Marketing plan

Which of the following is NOT an example of illegal anticompetitive practices? a. Price fixing b. Stealing trade secrets c. Obtaining confidential information from a competitor's employees d. False advertising e. Mislabeling products

Mislabeling products

Which of the following types of competitive structure often exists because of the difficulty and expense of entering a market? a. Monopolistic competition b. Oligopoly c. Pure competition d. Brand competition e. Monopoly

Oligopoly

Which of the following is often a better predictor of unethical activities than are personal values? a. Opportunity b. Organizational pressure c. Individual factors d. Organizational relationships e. The CEO

Opportunity

During which of the following economic conditions does unemployment begin to decline, total disposable income increase, and consumers' willingness to buy begin to rise? a. Recession b. Depression c. Prosperity d. Recovery e. Business cycle

Recovery

Charlotte loves her mom's edible cookie dough recipe, and she assumes everyone else will too. She starts a cookie dough business. Charlotte views promotion, such as advertising and personal selling, as the most important activities needed to sell her product. She figures that consumers only have to learn about her product before becoming loyal and steadfast customers. What type of orientation does Charlotte seem to embrace? a. Promotion orientation b. Production orientation c. Sales orientation d. Market orientation e. Exchange orientation

Sales orientation

Check My Work Which of the following is the potential for the long-term well-being of the natural environment, including all biological, as well as the interaction among nature and individuals, organizations, and business strategies? a. Cause-related marketing b. Consumerism c. Sustainability d. Ethics e. Marketing citizenship

Sustainability

When an ethical issue arises in the supply chain, which of the following is most likely to be held accountable for misconduct? a. The channel member making the product b. The channel member shipping the product c. The channel member wholesaling the product d. The channel member managing the product e. The channel member selling the product

The channel member managing the product

Which of the following is the major source of cultural values? a. Social class b. Religion c. The family d. The workplace e. Laws and regulations

The family

Which of the following promises consumers fair treatment when they complain to marketers about products? a. The right to safety b. The right to be informed c. The right to choose d. The right to be heard e. The right to lower prices

The right to be heard

Which of the following do codes of ethics NOT do? a. They take every situation into account. b. They specify formalized rules and standards that describe what the company expects of its employees. c. They let employees know both what is expected of them and what kind of punishment they face if they violate the rules. d. They promote ethical behavior by reducing opportunities for unethical behavior. e. They help marketers deal with ethical issues or dilemmas that develop in daily operations by prescribing or limiting specific activities.

They take every situation into account.

When conducting a SWOT analysis, which of the following are barriers that could prevent an organization from reaching its objective? a. Market opportunity b. Opportunities c. Strengths d. Weaknesses e. Threats

Threats

You are advising a local nonprofit on strategy. The nonprofit supports cancer research and relies entirely on donations. You recommend that the nonprofit engage in marketing activities. The executive director tells you that because it is a nonprofit that does not engage in selling activities and has a small budget, the nonprofit has no use for marketing. You disagree and explain that marketing is not just for for-profit organizations. You explain the different ways the nonprofit can engage in marketing without changing its practices or the mission. Which of the following marketing activities would be most feasible for this nonprofit? a. Get volunteers to sell T-shirts and other items at the nonprofit's major events b. Engage in extensive marketing research to determine what its contributors want c. Purchase an advertisement in a state newspaper that is popular in the local community about the nonprofit d. Send out coupons for the organization's products in the local bulletin e. Use inexpensive digital marketing tools to inform the community about an upcoming fundraising event

Use inexpensive digital marketing tools to inform the community about an upcoming fundraising event

The real value in marketing research is measured by improvements in _______. a. a marketer's ability to make decisions b. the ability to eliminate focus groups c. market share d. profits e. a marketer's response to complaints

a marketer's ability to make decisions

If other organizational members approve of the activity and it is legal and customary within the industry, chances are that the activity is _______ from both an ethical and a social responsibility perspective. a. acceptable b. inappropriate c. unacceptable d. improper

acceptable

Marketing cost analysis _______. a. breaks down and classifies costs to determine which are associated with specific marketing efforts b. is an expected level of performance against which actual performance can be compared c. is the firm's sale of a stated product as a percentage of industry sales of competing products d. uses sales figures to evaluate a firm's current performance e. assesses an organization's strengths, weaknesses, opportunities, and threats

breaks down and classifies costs to determine which are associated with specific marketing efforts

People are sometimes more willing to buy if they have the _______. a. business cycle b. buying power c. disposable income d. discretionary income e. wealth

buying power

Proactive organizations often seek to influence the political forces of the environment through _______ and _______. a. campaign contributions; bribes b. social media; lobbying c. campaign contributions; social media d. bribes; lobbying e. campaign contributions; lobbying

campaign contributions; lobbying

Mothers Fighting Added Sugar is sending emails to companies, posting on Facebook and Instagram, lobbying government agencies, running a petition on Change.org, and boycotting companies whose activities they deem irresponsible. This best illustrates _______. a. crusading b. lobbying c. consumer protectionism d. boosterism e. consumerism

consumerism

The unique symbols, personalities, and philosophies that support all corporate activities including strategic planning and marketing are best described as _______. a. market share b. mission statement c. SWOT analysis d. corporate strategy e. corporate identity

corporate identity

Which stakeholders are the focal point of all marketing activities? a. Suppliers b. Employees c. Communities d. Customers e. Regulators

customers

Ethics relates to individual and group decisions whereas social responsibility _______. a. is the synergistic use of organizational core competencies and resources to address key stakeholders' interests and achieve both organizational and social benefits b. deals with the total effect of marketing decisions on society c. deals with the total effect of marketing decisions on the environment d. considers the diverse perspectives of stakeholders in their daily operations and strategic planning e. links products to a particular social cause on an ongoing or short-term basis

deals with the total effect of marketing decisions on society

Decision-making authority is delegated as far down the chain of command as possible in a(n) _______. a. centralized organization b. strategic-business unit c. nonprofit organization d. marketing-oriented organization e. decentralized organization

decentralized organization

Marketers at Coca-Cola are exploring why sales of soft drinks have been declining in recent years, but sales of product competitors like bottled water and tea are rising. To understand the characteristics of this phenomenon in order to identify potential strategies to reverse the trend, they should conduct _______. a. nonprobability sampling b. descriptive research c. stratified sampling d. experimental research e. exploratory research

descriptive research

During the holiday season, a Bluetooth speaker was in such high demand that it sold out quickly at a local Walmart. When Walmart tried to order more, it learned that the suppliers had so many orders to fill that it would not be able to fill Walmart's order for two weeks. What type of marketing mix variable does this problem involve? a. Promotion b. Exchange c. Pricing d. Distribution e. Product

distribution

Whether fluctuating rapidly or slowly, environmental forces are always _______. a. controversial b. static c. weak d. predictable e. dynamic

dynamic

According to your text, a well-implemented _______ and a strong _______ result in the greatest decrease in ethical risks for an organization. a. ethics program; regulatory system b. ethics program; corporate culture c. corporate culture; opportunity d. regulatory system; corporate culture e. ethics program; opportunity

ethics program; corporate culture

The essence of marketing is to develop satisfying _______ from which both customers and marketers benefit. a. exchanges b. target markets c. marketing mixes d. environmental factors e. values

exchange

Experts recommend a two-pronged approach to international marketing research: (1) a detailed search for and analysis of secondary data; and (2) _______. a. field research to refine a firm's understanding of specific customer needs and preferences b. focus groups to refine a firm's understanding of specific customer needs and preferences c. database mining to find and analyze big data d. secondary research e. telephone surveys to refine a firm's understanding of specific customer needs and preferences

field research to refine a firm's understanding of specific customer needs and preferences

Kraft Foods brings together multiple people to discuss a certain topic in a group setting led by a moderator for initial testing of different marketing strategies for new and existing products. This is best described as _______. a. conclusive research b. descriptive research c. customer advisory boards d. focus groups e. experimental research

focus groups

Research into marketing ethics suggests that the _______ associated with an issue, the more likely it will be recognized as an ethics issue and the more important it will be in making an ethical decision. a. lesser the consequences b. greater the price c. greater the publicity d. greater the value e. greater the consequences

greater the consequences

An ethical issue in the area of promotion is _______, which occurs when products are promoted as being more environmentally friendly than they really are. a. sustainability b. green marketing c. greenwashing d. cause-related marketing e. product recalls

greenwashing

Marketing environmental forces are often _______. a. stable b. easy to predict c. controllable d. interdependent e. non-influentia

interdependent

Which of the following sentences is true about a marketing exchange? a. Seeing an advertisement is an example of an exchange. b. Products in an exchange must be traded for money. c. It requires four conditions to take place. d. An exchange only needs to provide a benefit to one party. e. An exchange will always take place if four conditions are met.

it requires four conditions to take place.

Ethical choices in marketing are most often made _______. a. jointly b. individually c. at church d. in a vacuum e. at home

jointly

The ability of competitors to achieve long-term competitive advantages by entering the market later and not being the first to offer a certain product in the marketplace is called _______. a. competitive advantage b. core competency c. first-mover advantage d. late-mover advantage e. early-mover advantage

late-mover advantage

When the right combination of circumstances and timing permits an organization to take action to reach a particular target market, there exists a(n) _______. a. competitive advantage b. market opportunity c. weakness d. core competencies e. strategic window

market opportunity

ACME Corp. is identifying and using tools to measure and interpret the effectiveness of its marketing activities. This is best described as _______. a. marketing information system b. marketing decision support system c. marketing research design d. big data e. marketing analytics

marketing analytics

ACME Corp. is adopting a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities that its stakeholders expect of it. This best describes _______. a. cause-related marketing b. stakeholder orientation c. marketing citizenship d. social responsibility e. ethics

marketing citizenship

A _______ states what is to be accomplished through marketing activities. a. market opportunity b. marketing objective c. marketing strategy d. mission statement e. performance standard

marketing objective

Performance standards are derived from _______. a. the mission statement b. sales analysis c. marketing objectives d. marketing strategy e. market opportunity

marketing objectives

ACME Corp. managers are engaged in the process of systematically designing, collecting, interpreting, and reporting of information to help solve specific marketing problems or take advantage of marketing opportunities. This approach is best described as _______. a. exploratory research b. descriptive research c. marketing research d. experimental research e. focus groups

marketing research

In the absence of ethics and compliance programs, employees will generally make decisions based primarily on their _______. a. financial situation b. personal values c. observations of how society behaves d. observations of how coworkers and superiors behave e. assessment of the law

observations of how coworkers and superiors behave

ACME Corp. is striving to foster a set of ethical values, beliefs, goals, norms, and rituals that members of an organization share. This is best described as _______. a. marketing citizenship b. social responsibility c. organizational culture d. code of conduct e. opportunity

organizational culture

The strategic planning process begins with _______. a. finance objectives b. marketing objectives c. organizational mission and goals d. business-unit strategies e. SWOT analysis

organizational mission and goals

Lime is using social media to ask consumers about the qualities they desire in an electric scooter. The firm hopes to develop a new type of electric scooter based on the feedback it receives. Which marketing mix variable is Lime addressing? a. Product b. Exchange c. Pricing d. Distribution e. Promotion

production

Because marketing managers are relying more on marketing research, marketing information systems, and new technologies to make better decisions, it is essential to establish _______ by which to judge the reliability of marketing research. a. big data b. validity c. global standards d. professional standards e. single-source data

professional standards

Lumos Labs, the maker of brain-training app Lumosity, released advertisements that claimed its app was able to prevent Alzheimer's. The Federal Trade Commission fined Lumos Labs $2 million, saying that the company did not have the science to back up its ads. What type of marketing mix variable is involved in this situation? a. Pricing b. Exchange c. Distribution d. Promotion e. Product

promotion

ACME Corp. managers view environmental forces as uncontrollable and thus adjust their marketing strategies to changes in the marketing environment. This approach is best described as _______. a. controversial b. proactive c. static d. reactive e. offensive

reactive

Sheryl works at Southwest Airlines as a digital marketer. A major part of her job is communicating with customers, answering questions and letting them know about how the airline offers them the best in customer value. Sheryl is working to create long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges with customers. This is an example of _______. a. the marketing mix b. relationship marketing c. customer lifetime value d. a sales orientation e. customer loyalty programs

relationship marketing

Chipotle is conducting a research study that divided the population of interest into groups according to a common attribute, and then a random sample was chosen within each group. This best describes _______. a. probability sampling b. random sampling c. nonprobability sampling d. stratified sampling e. quota sampling

stratified sampling

Customers choose to go to Buffalo Wild Wings based upon the value they place on the total product—including the food, service, atmosphere of the restaurant, and more. The process consumers use to determine value is highly _______. a. objective b. subjective c. narrow d. scientific e. detailed

subject

Kroger decided to introduce a new product that appeals to Hispanic consumers. While the product is highly successful among Hispanic consumers, other ethnic groups seem to like the product as well. For this product, Hispanic consumers comprise Kroger's _______. a. marketing environment b. community c. target market d. marketing mix e. exchange

target market

A marketing strategy is the selection of a(n) _______ and the creation of a(n) _______ that will satisfy the needs of target-market members. a. marketing mix; target market b. target market; marketing mix c. target market; marketing plan d. marketing objective; marketing plan e. marketing objective; marketing mix

target market; marketing mix

At ACME Corp., managers are trying to foresee the effects of new products and processes on their firm's operations, on other business organizations, and on society in general. This is best described as _______. a. environmental analysis b. environmental scanning c. SWOT analysis d. technology assessment e. technology scanning

technology assessment

The growing demand for health-care services, recreation, tourism, retirement housing, and selected skin-care products most closely relates to _______. a. the demographic characteristic of marital status b. cultural values c. the demographic characteristic of gender d. consumerism e. the demographic characteristic of age

the demographic characteristic of age

marketing

the process of creating, distributing, promoting, and pricing goods services, and ideas. to gain a positive relationship between

An essential element of communicating with marketing employees is _______. a. strategy b. objectives c. training d. the target market e. the marketing mix

training

Subaru developed a new luxury car model, but, after performing some market tests, it realized that it was pricing its vehicles too high, even for the luxury market. Subaru had to make some changes in its marketing mix. Unfortunately, it made the mistake of launching its product right when a recession hit. As unemployment rose, sales of luxury products such as Subaru's new luxury vehicle tend to decrease. In this case, the pricing of its vehicle is a(n) _______ force for Subaru, while the economic downturn is a(n) _______ factor. a. unpredictable; predictable b. controllable; uncontrollable c. stable; unstable d. uncontrollable; controllable e. predictable; unpredictable

uncontrollable; controllable