MKT Chap. 8, 9, & 10 Concept Checks

online fraud

Any attempt to conduct dishonest activities online would be described as _______.

Description

Commodities and raw materials are typically purchased using which method of business buying?

Electronic marketing

Which of the following refers to the strategic process of distributing, promoting, and pricing products, and discovering the desires of customers using digital media and digital marketing?

Asia-Pacific Economic Cooperation (APEC)

Which of the following represents the most people?

inelastic demand

A price increase or decrease does not significantly alter demand for a product with _______.

an international division structure

ACME Corp. has concentrated its human resources with international expertise into one unit which serves as the central point for all information flow related to international operations, it is most likely using _______.

Modified rebuy purchase

ACME Corp. has ordered widgets from Wiley Widgets several times before, but now it would like Wiley Widgets to offer a lower per-unit price in exchange for a larger order. ACME is using which of the following types of business purchases?

app

ACME Corp. is developing a software program that can run on mobile devices so that customers can interact with the firm, view product information, and see the status of an order. This is best described as a(n) _______.

digital marketing

ACME Corp. is using all digital media, including the internet and mobile and interactive channels, to develop communication and exchanges with customers. This is best described as _______.

trading company

ACME Corp. managers lack the will and resources to develop international marketing strategies, but are happy when their company's products are purchased by a(n) _______, which then sells them internationally.

value analysis

Examining quality, design, materials, and possibly item reduction or deletion to acquire the product in the most cost-effective way is best described as _______.

informal; planned

For most firms, the early stages of international development are often _______ and not fully _______.

Producer market

Gorton's Seafood buys large amounts of fish to use in its frozen dinners and dinner components. Gorton's Seafood belongs in which of the following business markets?

born global

Logitech was founded with the knowledge and resources to accelerate its participation and investment in the global marketplace; it was able to export products soon after being established in market niches in which it competed with long-established firms. This is an example of a(n) _______.

gradually; incrementally

Most companies have entered the global marketplace _______ and _______.

share information

One of the most important benefits of e-marketing is the ability of marketers and customers to _______.

personal information

One of the most significant privacy issues relates to marketers' use of _______.

saves time; reduces costs

Online marketing efforts make the buying process far more efficient because it _______ and _______.

B2B e-commerce sites

Online marketplaces where buyers and sellers can exchange information, goods, services, ideas, and payments are best described as _______.

Exposure

Page visits, reach, and CPM (cost per thousand exposures) are all examples of what type of social media metric?

Searching for and evaluating potential products and suppliers

Purchasing agents at ACME Corp. are looking in company files and trade directories, contacting suppliers for information, soliciting proposals from known vendors, and examining various online and print publications. They are in which of the following stages of the buying decision process?

physical stores and an online shopping site

The "bricks-and-clicks" model involves maintaining _______.

potential customers' purchases

To estimate the purchase potential of business customers, a marketer must find a relationship between a variable available in industrial classification data, such as number of employees, and the size of _______.

consumers' tendencies to trust other consumers over corporations

Two trends have elevated the importance of consumer-generated information: (1) The growing tendency of consumers to publish their own thoughts, opinions, reviews, and product discussions; and (2) _______.

reverse auction

When a business buyer invites vendors to bid to supply a specified good or service in competition with each other, with the lowest bidder winning the right to sell to the buyer, this is best described as _______.

Joint ventures

Which of the following are often a political necessity because of nationalism and government restrictions on foreign ownership?

Raise tariffs on products imported from Canada and Mexico

Which of the following does the North American Free Trade Agreement NOT do?

European Union (EU)

Which of the following has its own currency?

Structure

Which of the following organizational architecture elements is the most difficult to change, especially in the short term?

Import tariff

Which of the following raises the price of foreign goods?

negative balance of trade

Because it imports more products than it exports, so that money is flowing out of the country, the United States has a(n) _______.

Key Performance Indicators (KPIs)

Before creating a social media advertising campaign, Sarah embeds quantitative and qualitative metrics at the onset of her strategy that can allow almost real-time measurement and evaluation. What are these metrics called?

Single industry classification system used by the United States, Canada, and Mexico to generate comparable statistics

The North American Industry Classification System (NAICS) is a(n) _______.

the buying center

The group of people within an organization who make business buying decisions are best described as _______.

Pull

The internet is viewed as a _______ medium because users determine which material they are going to view.

Ethical and social responsibility forces

The use of bribes, which are illegal for U.S. companies, relate best to which of the following?

Globalization

Which of the following involves developing marketing strategies as though the entire world (or its major regions) were a single entity?

They worry about getting arrested.

Which of the following is NOT a way that consumers rationalize pirating software, video games, and movies online?

Minimize the transfer of knowledge across locations

Which of the following is NOT one of the five opportunities for creating value generated by a global presence?

Orders by businesses are frequently small and inexpensive.

Which of the following is NOT one of the ways that business transactions differ from consumer transactions?

It increases inefficiencies throughout the marketing channel.

Which of the following is NOT true about digital marketing as a new distribution channel?

Social network

Which of the following is a website (or app) where users can create a profile and interact with other users, post information, and engage in other forms of web-based communication?

Outsourcing

Which of the following is contracting of noncore operations or jobs from internal production within a business to an external entity that specializes in that operation?

Treating it like a traditional marketing channel

Which of the following is one of the biggest mistakes a marketer can make when engaging in digital marketing?

Gross domestic product per capita

Which of the following is the market value of a nation's total output of goods and services for a given period in relation to its population?

Reseller markets

Which of the following markets includes wholesalers or retailers?

Government markets

Which of the following markets may have complex buying procedures due in part to their public accountability?