MKTG 3010 Exam 1
_________ is the extent to which people are optimistic or pessimistic about the future health of the economy and how they personally fare down the road.
Consumer Confidence
_________ is the process individuals or groups go through to select, purchase, or use goods, services, ideas, experiences.
Consumer behavior
_________ are one-on-one discussions where an individual shares his/her thoughts in person with a researcher.
Consumer interviews
The overall positive feeling, or attitude, a person has about a product after purchasing it is called___________.
Consumer satisfaction
__________ are text files inserted by an Internet site sponsor into an internet user's hard drive when the user connects with the site.
Cookies
The tendency to prefer products or people of one's own culture over those from other countries is called _________.
Ethnocentrism
The process of an anthropologist "living with the natives" to find out more about them is called what?
Ethnography
The ________ was created to improve the quality of products available to Europeans in member countries.
European Union
The characteristics used to determine which product should be purchased are called __________.
Evaluative criteria
Causal research attempts to understand cause and effect relationships. One technique used in this research is what?
Experiments
Puffery is a claim of superiority that neither sponsors nor critics of the ad can prove as true or untrue.
True
Qualitative data is the type of information a marketer would receive concerning customers' attitudes, feelings, and buying behavior in the form of words rather than numbers.
True
Quality is the level of performance, reliability, features, safety, cost or other product characteristics that consumers expect to satisfy their needs and wants.
True
Representatives that are specialist intermediaries in knowing the local market of a country and can find buyers and negotiate terms are called export merchants.
True
Research design specifies what information marketers will collect and what type of study they will do.
True
SBUs have their own mission, business objectives, resources, managers, and competitors.
True
Semiotics is the study of how people assign meanings to symbols. This is important to marketers.
True
Size or color of a product could be used as evaluative criteria when making a purchase.
True
The Internal Environment are all those controllable elements inside an organization that influence how well the organization operates.
True
The currency used by European Union countries is called the Eurodollar.
True
The economic infrastructure is the quality of a country's distribution, financial, and communications systems.
True
The economy goes through various stages of a business cycle. Prosperity is when there are high levels of demand, employment, and income.
True
The family life cycle is the stages through which family members pass as they grow older.
True
The first, and the most important, step in the Marketing Research Process is define the problem.
True
The gross domestic product of a country is the total dollar value of goods and services a country produces within its borders in a year.
True
The lowest level of development a country can go through is the less developed country stage.
True
The net benefit both the firm and society receive from a firm's ethical practice and socially responsible behavior is called social profit.
True
The process of purchasing a car would be an example of extended problem solving.
True
The social movement directed toward protecting consumers from harmful business practices is called consumerism.
True
The three factors that influence the quality of research results are validity, reliability, and representativeness.
True
Production orientation
works best in a seller's market when demand is greater than supply.
Which of the following would not be an example of cause marketing? Your company sponsoring a Boy Scout troop. A billboard along the interstate promoting tennis shoes. Organizing a fund raiser. Your company creating a scholarship at Clemson University.
A billboard along the interstate promoting tennis shoes.
Which of the following is not an example of a syndicated research firm that a business might purchase services from? Nielsen's TV ratings Arbitron's radio ratings A firm's own research findings An outside company's research findings
A firm's own research findings
Which of the following eras is NOT one of the eras that the Marketing Concept has evolved from? a) Production Orientation Era b) Selling Orientation Era c) Advertising Orientation Era d) Consumer Orientation Era
Advertising Era.
Heuristics are used to help simplify the decision-making process. Which of the following is not a heuristic? Price Color Country of origin All of the above are heuristics
All of the above
Primary data includes all types of data including each of the following except which one? Demographics Psychological data Customers' opinions All of the above are types of primary data.
All of the above
Psychographics is categorizing consumers into groups by the similarities in each of the following except which one? All of the following are categories of psychographics. Activities Interests Opinions
All of the above
Strategic Business Units (SBUs) can have each of the following items except: Its own mission Its own business objectives Its own resources All of the above are items of an SBU
All of the above
The overall pattern of changes or fluctuations of an economy, called business cycle, goes through various stages. Which one of the following is not one of the stages? Prosperity Recession Recovery All of the above are stages of the Business Cycle
All of the above
Three factors influence the quality of research results. They are each of the following except which one? Validity Reliability Representativeness All of the above are factors
All of the above
What areas of a firm's product do customers expect will satisfy their needs and wants through quality efforts? Performance Reliability Safety All of the above
All of the above
When a company writes its objectives, the objective must be what? Quantifiable Realistic Measurable All of the above
All of the above
Which of the following is not considered one of the types of utility benefits that a product provides? a) Possession utility b) Place utility c) Time utility d) All of the above
All of the above
Which of the following is not one of the categories used to define SBUs using the BCG Growth Market Share Matrix? Star Dog Cash Cow All of the Above are categories
All of the above
Which of the following is not one of the important applications for marketers doing data mining? Customer acquisition Customer retention Customer abandonment All of the above are important applications
All of the above
Which of the following would be considered as elements of a county's economic infrastructure? A country's distribution system. A county's financial system A country's communication system All of the above are elements of the economic infrastructure
All of the above
Which of the following would not be an example of an economic sanction enforced by a country? Nationalization Local content rules Expropriation All of the above are types of economic sanctions
All of the above
A(n)___________ is a lasting evaluation of a person, object, or issue.
Attitude
When two or more countries work out elaborate deals in which they trade their products with each other, or even supply goods in return for tax breaks from the local government, this is called_________.
Bartering
The basic values that guide a firm's behavior are referred to as what?
Business ethics
The three countries that make up the North American Free Trade Agreement are the U.S., Mexico, and what other country?
Canada
__________ are written standards of behavior to which everyone in the organization must subscribe.
Code of ethics
_________ views people as problem solvers who do more than passively react to associations between stimuli.
Cognitive learning theory
Which of the following would be considered part of the Internal Environment of a company? Society Values Company Culture Technology Legal Issues
Company Culture
Which of the following would not be part of a company's external environment? Company Culture Society Values Technology Legal Issues
Company Culture
Which of the following terms describes the process of gathering and analyzing publicly available information about rivals? Competitive Spying Competitive Intelligence Competitive Research Competitive Reporting
Competitive Intelligence
A ______________ is the company's ability to outperform the competition, providing customers with a benefit the competition can't.
Competitive advantage
A firm's corporate culture is made up of each of the following topics/issues/items except which one? Competitor Policies Company Norms Company Beliefs Company Values
Competitor Policies
Customer relationship management
Concept that sees marketing as a process of building long-term relationships with customers to keep them satisfied and to keep them coming back.
Mass Market
Consists of all possible customers in a market, regardless of the differences in their specific needs and wants.
Protectionism is when a government enforces rules on foreign firms designed to give home companies an advantage.
True
The movement of consumerism is the social movement directed toward protecting consumes from harmful business practices. Which of the following is not an example of a harmful business practice? Producing a dangerous product. Selling a harmful product to minors. Creating a very humorous advertisement. Distributing a product in an illegal manner.
Creating a very humorous advertisement
____________ is a policy that makes sure that marketing policies and hiring practices give people an equal chance to work for the company and buy its products.
Cultural diversity
_________ are deeply held beliefs about right and wrong ways to live, that are imparted to members of a society.
Cultural values
___________ is the process in which analysts sift through massive amounts of data to identify unique patterns of behavior among different customer groups.
Data mining
Exploratory research is useful to determine each of the following topics except which one? Ideas for new strategies Ideas for new opportunities Demographics Better ways to handle problems
Demographics
When a country's economy shifts its emphasis from agriculture to industry, it is considered to be at what level of development?
Developing country
A ______________ is more important to customers because the product they buy provides something unique that they want over the competitor's products.
Differential benefit
_____________ strategies emphasize both new products and new markets to achieve growth.
Diversivication
________ is a practice where a seller sets different prices for different customers based on their assumed ability or willingness to pay.
Dynamic pricing
The increase of the Internet has opened up which of the following eras? a) E-Marketing Era b) Internet Marketing Era c) The Yahoo Era d) The Ebay Era
E-Marketing Era
___________ coordinate trade policies and ease restrictions on the flow of products and capital across their borders.
Economic communities
__________ prohibit trade with another country, so access to some markets may be cut off.
Economic sanctions
__________ is when a domestic government seizes a foreign company's assets and does not reimburse the firm for the takeover.
Expropriation
A collectivist culture is one in which the members of that society are more concerned with their personal goals.
False
A convention is a custom with strong moral overtone such as a taboo or forbidden behavior.
False
A marketing decision support system includes analysis and interactive software that allows managers to come up with new products.
False
A written standard of behavior to which everyone in the organization must subscribe is called company behavior.
False
An SBU is not considered to be a profit center within larger corporations because it is responsible for its own costs, revenues, and profits.
False
An import quota is tax on imported goods by a country, designed to reduce competition for their domestic industries.
False
Business ethics are the basic values that guide society's behavior.
False
Competencies are those things that a company does that they could improve upon.
False
Country of origin is not a good heuristic when deciding what product to purchase.
False
Diversification strategies create growth by selling new products in existing markets.
False
Due to the anthrax scare of 2001, more people are willing to open letters to do mail questionnaires from companies.
False
Dynamic pricing is a practice where a seller sets standard prices for different customers based on their assumed ability or willingness to pay.
False
Face-to-face interviews are more successful in retrieving information if they are conducted over the telephone.
False
Giving a child a spanking every time they do some bad is an example of classical conditioning.
False
Market penetration strategies seek to introduce existing products to new markets.
False
Marketing research is a process of collecting, analyzing, and interpreting data about the efforts of a foreign firm in an industry.
False
Operational planning is medium-range planning accomplished by top-level managers.
False
Primary data is data that has already been collected and is part of the company's management information system.
False
Problem recognition occurs whenever the consumer sees a significant difference between his/her current state of affairs and their parent's current state of affairs.
False
Putting together a bicycle is an example of observational learning.
False
Tactical planning is long-term planning accomplished by top-level managers.
False
The Food and Drug Administration also has the power to require firms to run corrective advertising, messages that clarify or qualify previous claims.
False
The World Trade Organization was originally the Food and Drug Administration.
False
The expense of a product would not be an example of perceived risk to a consumer.
False
The gross national product of a country is the total dollar value of goods and services a country produces within its borders in a year.
False
The philosophy that calls for company wide dedication to the development, maintenance and continuous improvement of all aspects of the company's operations is called quality management.
False
True/False: A mass market is a distinct group of customers within a larger market who are similar to one another in some way but whose needs differ from other customers in the larger market.
False
True/False: A need is a difference between a consumer's actual state and some unattainable state.
False
True/False: The four "P's" of the Marketing Mix are product, price, placement, and profit.
False. The four P's are product, place, price, and PROMOTION.
What government agency would fine a firm for illegal advertisements or misleading ads?
Federal Trade Commission
At which point of a formal marketing plan would the situation analysis be included?
First
The World Trade Organization derived from which of the following organizations? NAFTA GATT GAFTA GATTF
GATT
Which formula best describes what is meant by discretionary income? Gross Income--taxes--necessary bills Gross Income--taxes Gross Income--necessary bills Net Income--taxes--necessary bills
Gross Income--taxes--necessary bills
The _________ is the total dollar value of goods and services a country produces within its borders in a year.
Gross domestic product
__________ measures the value of all goods and services produced by a country's individual or organizations whether located within the county's borders or not.
Gross national product
A country can be at one of the three levels of development. Which of the following is not one of the levels a country can be considered? Less developed country Developing country Growing country Developed country
Growing country
The broad set of guidelines that set established voluntary standards for quality measurement are called what?
ISO 9000
A(n) ___________ is imposed on foreign goods to reduce competition for their domestic industries. They are limitations on the amount of a product allowed to enter or leave a country.
Import quota
__________ is the part of the decision-making process in which the consumer checks his memory and surveys his environment to identify what options are out there that might solve his problem.
Information search
An ____________ is an internal corporate communication network that uses Internet technology to link company departments, employees, and databases.
Intranet
_________ stipulate that a certain proportion of a product must consist of components supplied by industries in the host county or economic community.
Local content rules
The continuum of "effort," in terms of consumer involvement, has each of the following levels except which one? Long-term decision making Habitual decision making Extended problem solving Limited problem solving
Long-term decision making
Which of the following is not one of the four strategies of the Product Market Growth Matrix? Market Education Market Penetration Market Development Diversification
Market education
_____________ strategies seek to increase sales of existing products to current customers, nonusers, and users of competing brands.
Market penetration
Marketing is a decision process in which marketing managers determine the strategies that will help the organization meet its long-term objectives. To do this, marketers develop and implement _____. a) Calendars b) Marketing Plans c) Media Plans d) Media Budgets
Marketing Plans
The _________ is a statement of the total amount a firm spends on marketing and allocation of money for each activity under the marketer's control.
Marketing budget
The process that first determines what information managers need and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information to system users is called what?
Marketing information system
____________ is the process of collecting, analyzing, and interpreting data about customers, competitors, and the business environment to improve marketing effectiveness.
Marketing research
Which level of management does tactical planning, sometimes called functional planning?
Middle Level Managers
A(n)__________ is a formal document that describes the organization's overall purpose and what it hopes to achieve in terms of its customers, products, and resources.
Mission Statement
________ is an internal state that drives us to satisfy needs.
Motivation
Which of the following terms would describe the type of competition where there are relatively small numbers of sellers, each holding substantial market share, in a market with many buyers? Monopolistic competition Monopoly Perfect competition Oligopoly
Oligopoly
Which of the following is the type of learning which occurs when people learn that their actions result in rewards or punishments? Classical conditioning Vicarious learning Cognitive learning Operant conditioning
Operant conditioning
__________ focuses on the day to day execution of the tactical plans and includes detailed annual, semi-annual, or quarterly plans.
Operational planning
A(n) _______ is a legal document issued from the U.S. Patent Office that gives inventors, or individuals and firms, exclusive rights to produce and sell a particular invention.
Patent
________ is the process by which people select, organize, and interpret information from the outside world.
Perception
When consumers choose to pay attention to some stimuli but not to others, they are using what?
Perceptual selection
A(n) __________ is a set of people a consumer wants to please or imitate.
Reference group
__________ is the set of unique psychological characteristics that consistently influences the way a person responds to situations in the environment.
Personality
The lowest level of Abraham Maslow's hierarchy of needs is which of the following?
Physiological needs
Defining the problem has three components. They are specify the research objectives, identify the consumer population of interest, and _____________.
Placing the problem in an environment context
A(n)__________ is a tool management uses to assess the potential of a firm's products or business.
Portfolio analysis
Which of the following is NOT considered one of the activities that are used to promote a product? a) Personal Selling b) Advertising c) Coupons d) Price
Price
Product strategy decisions include issues about each of the following except which? Product design Pricing decisions Packaging Branding
Pricing decisions
__________ occurs whenever the consumer sees a significant difference between his/her current state of affairs and some desired or ideal state.
Problem recognition
_________ are used to get at people's underlying feelings, especially when they think people will be unable to express their true reactions.
Projective techniques
A _________ is how marketers communicate product benefits and features to the target market.
Promotional strategy
________________ is used when a country enforces rules on foreign firms to give home companies an advantage.
Protectionism
Descriptive research is typically expressed in __________ terms, such as averages and percentages.
Quantitative
A(n)__________ is used to identify a company's strength's, weaknesses, opportunities, and threats.
SWOT analysis
Futurists try to imagine different _________, or possible future situations that might occur and assign a level of probability to each.
Scenarios
Research data that has previously been gathered is called what type of data?
Secondary data
Some marketers are turning to a field of study known as _________, which examines how people assign meanings to symbols.
Semiotics
The steps of target marketing consist of each of the following except which one? a) Segment the market b) Select a target market c) Position the product for that market d) Set the price
Set the price.
The fee paid in exchange for agreeing to place the manufacturer's products on the retailer's valuable shelf space is called what?
Slotting allowance
_________ is the net benefit both the firm and society receive from a firm's ethical practices and socially responsible behavior.
Social profit
Which of the following is not one of the steps of the Marketing Research Process? Define the problem Determine the Research Design Solicit syndicated research firms Collect the data
Solicit syndicated research firms
A(n)____________ is a tax on imported goods, designed to give domestic competitors an advantage.
Tariff
A marketing plan is a formal document that outlines or describes each of the following except: The Marketing Environment The Marketing Advertisements The Marketing Strategy The person(s) responsible
The Marketing Advertisements
Pricing strategies determine what specific price a firm will charge for a product.
True
Which of the following is not one of the patterns of living that determines a person's lifestyle? How people choose to spend their time. The number of advertisements a person sees. How people spend their money. How people spend their energy.
The number of advertisements a person sees.
The sense of __________ makes consumers responsive to marketing innovations that allow them to save time.
Time poverty
___________ is a philosophy that calls for company wide dedication to the development, maintenance, and continuous improvement of all aspects of the company's operations.
Total Quality Management
A SWOT analysis tries to identify meaningful strengths, weaknesses, opportunities, and threats.
True
A distinctive competency is a firm's capability that is superior to that of its competitors.
True
A firm's corporate culture is made up of the ethical values, norms, and beliefs that influence the behavior of everyone in the organization.
True
A focus group is the technique marketing researchers use most often for collecting exploratory data.
True
A marketing intelligence system is a method by which marketers get information about everyday happenings in the marketing environment.
True
A mission statement is a formal document that describes the organization's purpose and what it hopes to achieve in terms of its customers, products, and resources.
True
A non-probability sample entails the use of personal judgment in selecting respondents - some cases just asking whomever they can find.
True
A star is a business unit that has dominant market share in high-growth markets.
True
A subculture is a group coexisting with other groups in a larger culture whose members share a distinctive set of beliefs or characteristics.
True
Brand loyalty is the assumption that people buy from the same company over and over because they believe that the company makes superior products.
True
Cause marketing is a strategy of joining forces with a not-for-profit organization.
True
Cross-functional planning means that middle managers work as a team to develop tactical plans that consider the objectives of all the functional areas.
True
Cross-sectional designed research involves the systematic collection of quantitative information from one or more samples of respondents at one point in time.
True
Economic communities coordinate trade policies and ease restrictions on the flow of products and capital across their borders.
True
Environmental stewardship is when a firm makes a socially responsible business decision that also protects the environment.
True
Exploratory research is used to generate topics for future, more rigorous studying, ides for new strategies and opportunities, or perhaps just to get a better handle on a problem they are currently experiencing with a product.
True
Exposure means that the stimuli must be within range of people's sensory receptors to be noticed.
True
In a trend analysis, marketers use data such as industry and company sales over a period of years to understand past directions that may continue into the future.
True
Information search is the part of the decision making process in which the consumer checks memory and surveys his environment to identify what options are out there to solve his problem.
True
Learning is a change in behavior caused by information or experience.
True
Marketing myopia describes a firm's shortsighted vision of their product offering.
True
Motivation is an internal state that drives us to satisfy needs.
True
Nationalization is when a domestic government reimburses a foreign company for its assets after taking it over.
True
One example of an economic sanction that one country can put on another country to deter trade would would be local content rules.
True
One of the four important applications of marketers for using data mining is customer retention.
True
One of the rights given to consumers in the Consumer Bill of Rights is the right to choose freely.
True
Perception is the process by which people select, organize, and interpret information from the outside world.
True
True/False: A consumer is the ultimate user of a good or service.
True
True/False: A market consists of all consumers who share a common need that can be satisfied by a specific product or service and who have the resources, willingness, and authority to make the exchange.
True
True/False: A marketing plan is developed and implemented to help a marketer meet their long-term objectives.
True
True/False: A product is a good, service, idea, place, person --whatever is offered for sale in an exchange.
True
True/False: Industrial goods are bought by organizations for further processing or for use in their business operations.
True
True/False: Place refers to the availability of the product to the customer at the desired time and location.
True
True/False: Production orientation works best in a seller's market when demand is greater than supply.
True
True/False: Promotion includes all of the activities marketers undertake to inform consumers or organizations about their products, and to encourage potential customers to buy those products.
True
True/False: Services are intangible products that we pay for and use but never own.
True
__________ are used to measure traces of physical evidence that remain after some action has taken place, when they suspect that people will probably alter their behavior if they know they are being observed.
Unobtrusive measurements
Green marketing would be to do each of the following, except which one, in an effort to be earth friendly but still profitable? Use biodegradable materials Reduce air pollution Using the American Flag in an advertisement Reducing the use of chemicals in production
Using the American Flag in an advertisement
Which of the following would be an example of observational learning? Watching someone change a tire Changing a tire Programming a computer Writing a marketing plan
Watching someone change a tire
A benefit
is delivered by a product when it satisfies a need or a want
Consumer orientation
is designed to satisfy customers' needs and wants.
Market positioning
is how the marketer wants the target market to perceive the product in comparison to competitors' brands.
Marketing positioning
is how the marketer wants the target market to perceive the product in comparison to competitors' brands.
Marketing
is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.
