MKT FINAL

When a firm analyzes the marketing environment, it is least likely to look at which of the following?

the cost of developing a new product

Demographic variables are so frequently used in market segmentation because they ________.

Are easy to measure in comparison to many other methods

Strategic planning for a large firm such as Disney with several SBUs probably occurs ________.

At both the overall corporate level and the individual SBU level

The 80/20 rule is most directly related to ________ segmentation.

Behavioral

The triangular red Nabisco logo is an example of a ________.

Brand mark

During which stage of new-product development will management most likely consider whether the new product will cannibalize sales of the company's existing products?

Business analysis

A company introduced the Funday film to compete with lower-priced brands, but it found many of its regular customers bought Funday instead of its usual, higher-priced film. The company experienced ________.

Cannibalization

An independent grocer who wants to know if cocktail and tartar sauce would sell better if the two products were moved from the salad dressing section of the store to a display next to the seafood selection would most likely use ________ research.

Casual research

Which of the following is NOT considered a source of market intelligence?

Casual research

Pat thought he had received the best deal on his new car. Shortly after the purchase, Pat started to notice certain disadvantages of his new car as he learned more about other cars. Pat was experiencing ________.

Cognitive dissonance

According to the long tail approach to selling, ________.

Companies can make money by selling small amounts of items that only a few people want

Favorite Memories is a small company that specializes in serving women over the age of 50 who are special occasion gift shoppers overlooked by major competitors. Which of the following best describes Favorite Memories' market targeting strategy?

Concentrated targeting

Pepsi-Cola's development of Wild Cherry Pepsi, a cherry-flavored soda, is an example of a ________.

Continuous innovation

Start-up marketers may use ________ through sites such as Kickstarter.com to raise the necessary capital to get a new product to market.

Crowdfunding

Marketing managers at a cosmetic company wanted to find out how resistant their product is to smudging. They hired a research firm to ask 293 women who were wearing the company's StayColor line of cosmetics to rub their cheeks against their shirts using "the pressure they use when caressing someone else's face." The company was conducting ________.

Custom research

Management at Growing Green, a company that markets organic and environmentally friendly gardening and landscaping supplies and equipment, is evaluating the benefits and disadvantages of indirect exporting, direct exporting, and licensing. In which stage of the international marketing process is Growing Green?

Deciding which market-entry strategy is best

There are numerous kinds of shampoo, including vitamin-enriched, fruit-enhanced, color-reviving, therapeutic, and so on. Shampoo that simply promises to clean hair, however, has seen declining sales, has little or no advertising, and has been phased out by most manufacturers. Shampoo that makes no other promise than to clean hair is in the ________ stage of its product life cycle.

Decline

The CEO, president, and top executive officers are responsible for ________ in the strategic plan.

Defining the firms purpose

When many men in the baby boomer segment started getting gray hair, they were reluctant to use hair dyes made for women even though they were just as eager as women to fight the aging process. To address this reluctance, hair care product manufacturers introduced hair dying systems for men to use both on their heads and their facial hair. These hair care product manufacturers used ________ segmentation to define their target markets.

Demographic

Many airlines now sell tickets almost exclusively through online third-party vendors. This is an example of a ________ strategy.

Distribution

Ideally, market research should be ________.

Done in an ongoing process

Which of the following statements about durable goods is true?

Durable goods provide a benefit over a long period of time

Even though most people in the original target market for electric toothbrushes already knew how to brush their teeth, consumers still had some learning to do in order to make good use of the new brushing technique. The electric toothbrush is an example of a ________.

Dynamically continuous innovation

The population of Djibouti is approximately 830,000. To serve the communication needs of this nation, there are two FM radio stations, one AM radio stations, and one television station. There are only 22,000 telephone lines in the whole country. This is a partial description of Djibouti's ________.

Economic infrastructure

When we need a(n) ________, price and product quality may be irrelevant to our purchase decision.

Emergency product

The last step in developing a positioning strategy is to ________.

Evaluate responses and modify as needed

Marketers would be most likely to use ________ to come up with ideas for new strategies and opportunities or to get a better understanding of a problem they are currently experiencing with a product.

Exploratory research

While deciding whether or not to begin a construction project overseas, BuildBest learned that they would not be able to get permits for demolition until they paid a local city official a sizable fee in addition to the fees the city charges for the permit. This is an example of ________.

Extortion

Which data collection method for marketing research is flexible, allows for explanation of difficult questions, and lends itself to showing products and other visual materials?

Face-to-face marketing

A chief marketing officer is more likely to be in charge of strategic planning than functional planning.

False

The more innovative a new product is, the more quickly it will spread throughout a population.

False

Market planning is a type of _____.

Functional planning

The ________ is the member of the buying center who controls the flow of information to other members.

Gatekeeper

Group of American consumers born 1979 - 1994

Generation Y

The group of American consumers born after 1994 is often called ________.

Generation Z

Organizational markets differ from consumer markets in that organizational markets ________.

Have derived demand

Diffusion refers to ________.

How the use of a product spreads throughout a population

Camille was standing in the checkout line at her neighborhood grocery last night when she saw a display of Hostess Twinkies. She remembered how much she had enjoyed Twinkies as a child, and she knew she just had to buy a package of Twinkies, even though it was not on her shopping list. For Camille, Twinkies are an example of a(n) ________.

Impulse product

P&G makes Tide, Cheer, Ivory Snow, and Bold detergents as well as PertPlus, Rejoice, and Vidal Sassoon shampoos. Through its use of a separate and unique brand name for each of these products, Procter & Gamble is using a(n) ________ strategy.

Individual brand

When a product has ________ demand, an increase or decrease in the price of the product has little or no effect on the demand for the product.

Inelastic (insignificant)

When Tom wanted to buy a new gas grill, he searched for grills on the Internet. He was able to gather information on grills and learn what features were available. Tom used the Internet during the ________ stage of his purchase decision.

Information search

Data such as which customers buy which products, which items the company has in stock, and when the company ships items to its customer are all examples of ________.

Internal company data

________ are the last in the population to adopt a new product.

Laggards

The most appropriate strategy for a firm that wants consumers to see it as a specialist with a clear, specific position in the market is a(n) ________.

Limited-line strategy

For the business market, a multipurpose absorbent used to clean up any type of spills would be an example of a(n) ________.

Maintenance product

Serengeti makes lightweight sunglasses with 100 percent UV protection for people who love to hunt, hike, and bike ride. Its long-term plans include the development of lenses that, in addition to protecting users from UV rays, will also have effective water-sheeting action to reduce lens spotting. This new feature will be valuable to people who fish. Serengeti has determined that fishing is one of the fastest growing sports in the United States. In terms of a SWOT analysis, Serengeti has recognized a market ________.

Market opportunity

If you own a small retail shop and you put ads in the local paper, put flyers in doors in every neighborhood, and buy billboards in the area so that you can reach as many potential consumers as possible, you are engaging in ________ marketing

Mass marketing

The sales peak typically occurs during which stage of the product life cycle?

Maturity stage

When the size and purchasing power of a target segment can be determined, the segment is ________.

Measurable

The ________ for Twitter is "To give everyone the power to create and share ideas and information instantly, without barriers."

Mission statement

Trusted Wholesalers is a company that purchases products produced in Mexico and sells them to companies based in the United States and Canada. Management at Trusted Wholesalers would most likely be interested in becoming experts in the agreements made by ________.

NAFTA

In a competition between ________ and ________ brands, retailers have the advantages of controlling what products will be stocked, where products will be stocked, what prices will be charged, and which products will be featured in local print promotions.

National; Private label

Chris just landed her dream job but realizes that her college wardrobe is not going to work for her new professional position. In this situation, Chris has a(n) ________.

Need

A sales manager sets an objective for her team to increase the units sold by five percent for the quarter. This objective is most likely part of a detailed ________ plan that is created annually, semiannually, or quarterly.

Operational plan

Orkin Pest Control Service knows homeowners skimp on maintenance such as pest control during recessions. It also knows that the more consumers know about bugs, the more likely they are to buy the company's services. So Orkin teamed with the Smithsonian Institution on the Insect Safari, a traveling exhibit designed to teach people about the critters. The Safari truck visited 108 cities during one year, leaving a wake of creeped-out insectophobes reaching for the phone numbers of the local Orkin franchise. Business increased in each city the Safari truck visited. Decisions on which cities to visit and what kinds of promotion to use in each city visited are both examples of ________ plans.

Operational plans

Business-to-business marketers who look at the size of firms in terms of total sales or number of employees are using ________ to segment their market.

Organizational demographics

In Vin del Mar, Chile, there are a dozen stores specializing in selling the same quality of seafood products on one street. An individual store dare not charge more than the going price without the risk of losing business to the other stores that are selling the fish at a common price. This is an example of what type of market?

Perfect competition

Conveniently located vending machines around your college or university campus make it easy for you to buy a soda and a snack between classes. This is an example of the ________ element of the marketing mix.

Place

The ________ environment refers to the local, state, national, and global laws and regulations that affect businesses.

Political and legal

________ utility is the benefit marketing provides by allowing the consumer to own, use, and enjoy a product.

Possession

To successfully market the Corvette to the European market, General Motors had to make the automobile shorter and narrower. GM chose to use a ________ strategy with the Corvette.

Product adaption

What part of the sustainable marketing mix involves producing more environmentally friendly products, such as electric automobiles?

Product strategies

U.S. sugar import quotas have existed for more than 50 years and preserve about half of the U.S. sugar market for domestic producers. These quotas are examples of ________.

Protectionism

A group of business entrepreneurs who worried about their teenage children drinking and driving decided there must be some way to approach this problem proactively. They came up with an idea for a pair of blurry goggles. They believed looking through the goggles would simulate what the world looks like when someone is seriously intoxicated. The first crude pair of blurry goggles developed by the entrepreneurs to show to prospective customers was a(n) ________.

Prototype

Easy Spirit uses ads featuring a country music singer with the hope that her fans will see her wearing Easy Spirit shoes and want to wear the same shoes she wears. Easy Spirit is hoping the singer's fans view her as a ________.

Reference group

A high-fashion boutique sells top-of-the-line women's clothing and accessories. The keys to its success include knowing customers' changing tastes and providing something different than other retailers. In addition, because of the high value of the merchandise, the boutique's management is investing in the use of computerized inventory controls and sales order processing. The least important environmental force to the boutique at this time is likely to be

Regulatory

Alex paid for a(n) ________ when he took his car to the carwash to be washed and waxed.

Service

Zappos, the online shoe and clothing marketer, promises free shipping and free returns on any of its products, no questions asked. This is an example of how Zappos has a strong competitive advantage through ________.

Services

Tony wanted to buy a pair of binoculars, but not just any brand. He wanted to buy a pair of Steiner Nighthunters, just like the pair he had learned about in his newest copy of Peter's Hunt Magazine. He had to visit five different sporting goods stores before he found this brand. For Tony, the Steiner Nighthunter is an example of a(n) ________.

Specialty product

To enter the European market, Starbucks joined in a cooperative venture with Bon Appetit Group A.G. in Switzerland. Bon Appetit has the recognized brand name, and Starbucks has the product and the expertise to run coffeehouses. This is an example of a(n) ________.

Strategic alliance

In general, companies that focus on a triple bottom line are most likely to place a priority on which of the following?

Sustainability

Which of the following is NOT one of the five characteristics of innovations that affect the rate of adoption?

Tangibility

A ________ is defined as a market segment on which an organization focuses its marketing plan and toward which it directs its marketing efforts.

Target market

When marketers at P&G selected Generation Y, a demographic that includes college students, as an untapped group of potential customers for their Febreze line of products, they were executing which of the following?

Targeting

In February 2000, the United States imposed a tax on imported steel in an effort to protect about 5,000 U.S. jobs. Another name for this levied tax is a(n) ________.

Tariff

Since the introduction of the iPhone, a booming market for smartphone applications has emerged. It is most accurate to say that this new opportunity was created through changes in the ________ environment.

Technological

A good brand name should do all of the following EXCEPT fit ________.

The competition

Which of the following is the best example of a consumer good?

The disposable diapers purchased by the new mother for her baby

Which of the following is true about the steps in the market research process?

The first step is to define the research problem

Which of the following statements about brand equity is NOT true?

The highest level of brand equity involves establishing product benefits

Which of the following accurately identifies a difference between habitual decision making and extended problem solving?

The level of involvement for habitual decision making is lower than it is for extended problem solving

Which of the following is part of the product element of the marketing mix?

The packaging

An undifferentiated marketing strategy is most likely to be successful in which of the following scenarios?

The product has wide appeal

Jane's aunt wants a cashmere blanket to put over her legs when she watches television from her favorite chair. Jane could drive 50 miles and pay $90 for the blanket, or she could order one off the Internet for $168. Because Jane works fifty hours a week, cares for three children, and tries to help her aunt, she opts to buy the blanket on the Internet. This is an example of how ________ influences the consumer decision-making process.

Time poverty

What is the most logical explanation that retailers carry private-label brands?

To earn more profit

A web site is full of games, activities, music, and stories that appeal to children of all ages. Before a parent commits to paying the annual membership fee to gain access to the site, she can register for one free month of use. By accepting the free month's usage, potential adopters move into the ________ stage.

Trial stage

A firm has a competitive advantage when it is able to outperform the competition, providing customers with a desired benefit not provided by the competition.

True

Heuristics can be used to explain why Madelyn always buys a specific brand of deodorant and why Ralph always buys whatever brand he happens to see first.

True

One firm's business ethics may be different from another firm's business ethics.

True

Technological and cultural advances contribute to market fragmentation.

True

Which of the following is a true statement about the Four Ps of the marketing mix?

A decision about one of the Four Ps affects every other marketing-mix decision

Which of the following is NOT an example of a secondary data source for a company researching whether it should open a casino near St. Louis, Missouri?

a survey commissioned by the company asking St. Louis residents about their gambling habits

Once a company has conducted exploratory research and reviewed the resulting data, its next step is most likely which of the following?

conduct descriptive research

Which of the following questions should marketers first answer when they are determining their research design?

does the information we need already exist?

Which of the following is a type of descriptive research that involves tracking the responses of the same sample of responders over time?

longitudinal design