MKTG 361 CH 1-7 LearnSmart
For marketing to occur, parties must have which two of these?
-A way to communicate -Both the desire and ability to satisfy their needs
When the U.S. dollar is weak, euros buy more dollars, so which two are likely to happen?
-Europeans might vacation in the United States -Europeans might buy more U.S. goods
The societal marketing concept combines which two of the following principles? -Organizations should satisfy the needs of consumers -Marketers must maintain focus on maximizing profits for shareholders. -Marketers should limit distribution of their products to societies whose values mirror their own -Organizations should serve customers in a way that provides for society's well-being
-Organizations should satisfy the needs of consumers -Organizations should serve customers in a way that provides for society's well-being
Which of the following are commonly used organizational buying criteria?
-Price -ability to meet delivery schedules -past performance on contracts
Which two are examples of trade agreements signed by several countries to lift many trade barriers between them?
-The EU -NAFTA
Which best describes the European Union?
-a group of European countries that signed a trade agreement for purpose of promoting free trade within their countries
An independent e-marketplace differs from a private exchange in that the independent e-marketplace
-acts as neutral third parties for buyers and sellers
Which of the following are examples of societal responsibility? -cause marketing -use of utilitarianism -green marketing -use of the triple-bottom line
-cause marketing -green marketing -use of the triple-bottom line
Which two of the following are the most common motivations for unethical consumer behavior -consumer's economic need -consumer's psychological instability -consumer believes he or she can get away with it -consumer's rationalization that the act is justified
-consumer believes he or she can get away with it -consumer's rationalization that the act is justified
Which of the following are reasons for the state of perceived ethical business conduct being at its present level? -ethical business conflict may have declined -there is decreased diversity of value systems in society -there has been a rapid proliferation of business regulation -the public's expectations of ethical business behavior have increased
-ethical business conflict may have declined -the public's expectations of ethical business behavior have increased
The EU has simplified the way multinational companies market their products in which two of the following ways?
-firms no longer have to worry about currency differences across borders -products and packages can be more uniform for distribution across Europe
Many companies have added new objectives in their organizational buying decisions, including which two of the following?
-including environment initiatives -emphasizing buying from minority-and women-owned suppliers
A fluctuation in the exchange rate with another currency can be dangerous to a global company in which two ways?
-it could result in losses because of short-term swings -it could depress sales if imported products become more expensive for foreign buyers
Which of the following are reasons that a supplier might not like a reverse auction?
-it overemphasizes price as a buying criteria -it threatens existing supply partnerships
Which of the following are ways that the purchase decision stage of the organization decision process differs from the same stage for consumers?
-lengthy negotiations may occur -suppliers not chosen are told why -multiple contracts for different suppliers of the same items may be awarded
Which two of the following are potential negative aspects of tariffs when a foreign firm enters a host market?
-lower demand for the import -artificially higher prices for consumers
Which of the following organizational buyers could be considered part of the industrial market?
-mining companies -public utilities
In which two of the following ways can joint ventures be a risky entry strategy?
-partners might disagree -governments might place restrictions on the entering firm
In which of the following ways does top management contribute to the unethical behavior of employees -penalize employees who refuse to engage in unethical behavior when asked -create a written code of ethics with a high level of specificity -behave ethically themselves -reward employees for ethically troubling behavior
-penalize employees who refuse to engage in unethical behavior when asked -reward employees for ethically troubling behavior
Many firms choose the direct investment strategy when entering foreign markets because of which two of the following?
-potential profits need not be shared with other firms -direct investment offers the most control over operations
Which two of the following are trends in the past decade that have significantly influenced global marketing?
-presence of a networked global market space -changes in economic integration and free trade among nations
Examples of an ethical problem in which a marketer is violating the Consumer Bill of Rights include which of the following -promoting a dangerous product -advertising safety features to consumers -promoting products that damage the environment -failing to disclose actual costs of an auto lease
-promoting a dangerous product -failing to disclose actual costs of an auto lease
Which of the following are primary reasons for the popularity of online buying in all three kinds of organizational markets?
-reduced marketing costs -reduced buyer order processing costs -timely supplier information
Which of the following would be considered resellers?
-retailers -wholesalers
The functions of WTO include which of the following?
-reviewing and issuing decisions regarding trade disputes -setting rules governing trade between its members
A government may use protectionism measures that include which two of the following?
-setting quotas -imposing tariffs
Which of the following are steps in conducting a social audit? -specify the resources necessary to achieve social responsibility objectives -develop an organization's core values -evaluate social responsibility programs -identify causes consistent with the company's mission
-specify the resources necessary to achieve social responsibility objectives -evaluate social responsibility programs -identify causes consistent with the company's mission
Which of the following are common ways in which consumers fail to act ethically or responsibly? -submitting phony insurance claims -providing misleading information on labels -pirating music -putting inaccurate information on credit applications
-submitting phony insurance claims -pirating music -putting inaccurate information on credit applications
Which of the following are more true of the organizational buying decision process, as compared to the consumer one?
-supplier capability becomes more important -more individuals are involved in the decision
Which two of the following are true of the WTO?
-the WTO decides trade disputes between members -the WTO is an established permanent institution rather than being simply an agreement
Which of the following are true of a buying center?
-the buy-class situation affects the number of people involved in the center -it consists of several individuals with common goals and knowledge pertaining to purchase decisions
Which of the following are typical in a new buying situation?
-the buying center includes more people -decision time is lengthy
Risks involved in licensing as a global entry strategy include which two of the following
-the company has limited control over foreign operations -the name or reputation of the company may be harmed
Societal responsibility extends the concept of social responsibility to which of the following? -government institutions -cultural preservation -the general public -preservation of the ecological environment
-the general public -preservation of the ecological environment
Customer experience is -how a customer rates a shopping trip to a retail store, even when no purchase is made -anything that is shared verbally between a customer and someone else about aspects of a purchase -the completion of a transaction by a consumer in a physical location and any follow-up that may occur -the internal response that customers have to all aspects of an organization and its offerings
-the internal response that customers have to all aspects of an organization and its offerings
Organizations that place an emphasis on the triple-bottom line recognize the need to improve the state of which of the following? -pressure environments -the planet -profit -people
-the planet -profit -people
Which of the following are likely to participate in an organization's buying center?
-the purchasing manager -an employee from another functional area
The political-regulatory climate in a country would be unappealing for global companies if which conditions were present?
-there are a huge number of rules associated with selling its products there -there had been several acts of terrorism in urban areas
Which of the following are effects of tariffs and quotas on trade?
-they protect local firms -they may limit expansion for foreign firms -they might make products difficult to obtain
Cross-cultural analyses are important because they tell marketers which of the following?
-what customs are considered normal and expected -what is represented by symbols -what a society values
The following are the stages of both consumer and organization purchase decisions. Place each stage in the most typical order of the buying process. Place the first action at the top and continue until you place the final stage at the bottom
1. problem recognition 2. information search 3. alternative evaluation 4. purchase decision 5. postpurchase behavior
Match the BCG name to the correct characteristics Dogs Cash cows Question marks Stars
1.Dogs: May generate enough cash to sustain themselves but are not considered current or future winners. 2. Cash cows: Generate large amount of cash which can be invested in other SBUs. 3. Question marks: Require cash to maintain market share, even though that share is small. 4. Stars: Requires cash to sustain rapid growth but will likely generate cash when growth slows.
Studies show that up to ____ % of the new products that are launched go onto fail in the marketplace
40
The number of people aged ___ is expected to double in the coming decades
60 and older
Which of the following is an example of an environmental force?
A contraction of the economy nationwide
Which two of the following are characteristic of the marketing concept era? A firm should try to satisfy consumers' needs A firm should strive to achieve the organization's goals Consumers had a limited range of products from which to choose Sellers had a tremendous advantage over buyers in the marketplace
A firm should try to satisfy consumers' needs A firm should strive to achieve the organization's goals
The FTC might issue a cease and desist order due to which two of the following practices? A retouched advertising that makes the product appear more pure than it actually is Advertising that misrepresents the actual features or benefits of a product A close-up photograph of the product so that consumers see tiny details of it Advertising that shows the product from its best angle
A retouched advertising that makes the product appear more pure than it actually is Advertising that misrepresents the actual features or benefits of a product
Which of the following describes a typical evolution for an SBU through the four quadrants of the BCG business portfolio analysis?
An SBU often starts as a question mark and proceeds counterclockwise around the quadrants
Recently, organizations such as Ben and Jerry's have added an element to their mission statements to reflect what?
An ideal that is morally right and worthwhile
Which of the following is essential to recognize when determining organizational strategy? A strategy that reaches more people with more products is always preferable for the marketer An organization has limited resources which must be focused on achieving goals Strategy must be derived from recently proven marketing tactics Strategy depends on and is limited only by financial resources
An organization has limited resources which must be focused on achieving goals
Which of the following is NOT an example of a firm's strengths? An untapped overseas market A reputation for social responsibility A well-known brand name A large market share
An untapped overseas market
Nearly seventy percent of __ are immigrants. Most are under the age of 30. This subculture is composed of many diverse groups, which makes it difficult to generalize buying patterns
Asian Americans
Which ethnic group's US population is expected to nearly double to 23 million by 2030?
Asians
Amazon has begun delivery by drone in the United Kingdom, an example of what type of technology?
Automation
Which generational cohort was born between 1946-1964
Baby Boomers
__ translation means that a translated word or phrase is retranslated into the original language by a different interpreter to catch errors
Back
Social responsibility can best be illustrated by a firm's
Behavior
To get value from their products, customers expect ___ in return for the price.
Benefits
A customer value proposition is developed through an effective marketing mix that communicate about what to the customer?
Benefits that satisfy needs
To be considered a part fo the firm's market, consumers must have which of the following?
Both the desire and ability of the costumer to buy.
Imagine you go to a retail outlet and buy a pair of shoes. Prior to this transaction taking place, a distributor bought the shoes from the manufacturer and sold them to the retail outlet. Which of the following would be considered resellers?
Both the distributer and the retailer
In which of the following situations is the consumer most likely to skip some stages of the purchase decision process?
Brian is buying a cup of coffee at the corner coffee shop, which he does most days
Which two techniques aid in decisions about where an organization wants to go? Business portfolio analysis Diversification analysis Benchmarking analysis Profitability analysis
Business portfolio analysis Diversification analysis
What is the production era?
Buyers accept virtually any goods because of the relative scarcity of goods
Which two of the following are required of effective market segments? Buyers have common needs Buyers will respond similarly to a marketing action Buyers are diverse in terms of demographic characteristics Buyers have high incomes
Buyers have common needs Buyers will respond similarly to a marketing action
Firms that employ ____ systemically collect information about their customers' needs. It is sometimes possible to use that information to target their best customers with the goods, services, and special promotions that appear most important to those customers.
CRM
The concept "let the buyer beware" that was prevalent in the United States before the 1960s is known by what legal term?
Caveat emptor
Which of the following is a job title for the head of marketing in a large organization? Chief executive officer Chief marketing officer Marketing manager Marketing director
Chief marketing officer
Which of the following are NOT part of the implementation phase of the strategic marketing process? Comparing results to plans Executing the marketing program Setting marketing and product goals Defining tasks, responsibilities, and deadlines
Comparing results to plans Setting marketing and product goals
Which of the following environmental forces refers to the alternative firms that could provide a product to satisfy a specific market's needs?
Competition
In addition to an emphasis on consumers' interests, new expectations of marketers now include
Consideration of social and environmental consequences of their actions
The four Ps, or marketing mix, are the ____ set of activities that a firm uses to respond to the needs of its target market.
Controllable
Which of the following are the three levels of strategy in organizations? Board of directors, corporate, and strategic business-unit Board of directors, corporate, and functional Board of directors, strategic business unit, and functional Corporate, strategic business unit, and functional
Corporate, strategic business unit, and functional
CRM stands for
Customer Relationship Market
Identify which of the following allows an organization to determine where it is at the present time, as it beings to set a strategic direction? Customers Culture Competitors Competencies
Customers Competitors Competencies
Which of the following are part of the implementation phase of the strategic marketing process? Comparing results with plans Designing the marketing organization Obtaining resources Developing a SWOT analysis
Designing the marketing organization Obtaining resources
Among the four growth opportunities in diversification analysis, which is the most risky? Market development Product development Diversification Market penetration
Diversification
Marketing is performed by
Either individuals or organizations
A market penetration strategy, as one of the possible growth opportunities, may be achieved by which of the following? Encouraging current customers to spend more on the brand Introducing additional products and services to the current buyers Implementing a change to the organizational mission Finding new markets for the firm's current products
Encouraging current customers to spend more on the brand
Match the components of competition to the correct example Entry Power of buyers Power of suppliers Existing rivalries
Entry --> competition that make it difficult to enter a market are called Power of buyers Power of suppliers Existing rivalries
Though often treated as immovable constraints, ___ can sometimes be impacted by companies, particularly by achieving technology or competitive breakthroughs.
Environmental Forces
The decision about whether or not to sell information about one's customers to other organizations, while the practice is not illegal, is a(n) ____ issue.
Ethical
Which of the following statements best describe who is involved in marketing? Only for-profit businesses do marketing Every organization markets in some capacity Marketing can be effective for firms but not for individuals Marketing occurs in the private sector but not in the government
Every organization markets in some capacity
Refers to the trade of things of value between a buyer and a seller so that each is better off after the trade.
Exchange
When a consumer gives money or something else of value to a seller and in return the consumer receives something he or she values, both parties benefit. A marketer would describe this as a(n) ____
Exchange
When a deviation is identified in the evaluation phase of the strategic marketing process, what two marketing actions might a manager take? Exploit a positive deviation Revise organizational values Correct a negative deviation Change measurement criteria
Exploit a positive deviation Correct a negative deviation
The purpose of marketing strategy is to maximize short-term profits TRUE/FALSE
False
What is the customer-relationship era?
Firms seek continuously to satisfy the high expectations of those they serve
Which of the following are true regarding SBU? Select all that apply It is the same thing as portfolio analysis Firms with a single business focus many not have SBU's It stands for "strategic business unit" Managers of an SBU set specific strategic direction
Firms with a single business focus many not have SBU's It stands for "strategic business unit" Managers of an SBU set specific strategic direction
The production of the food or service
Form
Match the following types of utility with the correct definition Form Place Time Possession
Form --> the production of the good or service Place --> having the product available where consumers need it Time --> having the product available when needed Possession --> making an item easy to purchase
Though a relatively smaller group, this group born between 1965 and 1976 has become a dominant force in many markets today
Generation X
Which of these generational cohorts represents a period of increasing births during the years 1977 and 1994?
Generation Y
__ comprise the largest racial/ethnic subculture today, in terms of population and spending power in the United States
Hispanics
Which of the following is true of Hispanics in the US population?
Hispanics are a larger group in the US than either African Americans or Asian Americans
Which of the following is a characteristic of Hispanics in the US population
Hispanics have greater buying power as a group then either African Americans or Asian Americans
What is a benefit of effective marketing to society?
Improves quality of products and services
A marketing mix that is ____ to provide a good, service, or idea to prospective buyers is known as a marketing program.
Integrated
Which two of the following are true of BCG Business Portfolio Analysis? It is applied by classifying a firm's products or services into a four-quadrant matrix It helps firms identify the traits of its most important buyers, in terms of volume It is an easy tool to use because it uses readily available census information It requires calculations of market growth rate and relative market share
It is applied by classifying a firm's products or services into a four-quadrant matrix It requires calculations of market growth rate and relative market share
Which of the following scenarios describes negative word of mouth?
Joe tells many of his friends because he feels like he paid too many for poor service
International expansion generally is riskier than domestic expansion because of differences in which of the following? Language Life expectancy Government regulations Cultural traditions
Language Government regulations Cultural traditions
Which two of the following are broad ways that organizational strategies most often vary? Level Values Goals Offering
Level Offering
Marketing directly supports ____ by helping to provide customer-satisfying products required for the organization's survival and prosperity.
Management Goals
Which of the following are true of portfolio analysis? Management develops the marketing mix for each SBU Management allocates its resources to products based on growth opportunities Firms typically perform it at the SBU or product line level of the firm Management evaluates the firm's various products and businesses
Management allocates its resources to products based on growth opportunities Firms typically perform it at the SBU or product line level of the firm Management evaluates the firm's various products and businesses
What is the sales era?
Manufacturers can produce a surplus of goods and must find new buyers
Which of the following is characteristic of marketing in the production era? Manufactures could not keep up with customer demand Manufacturers focused on continually developing services to complement the offered goods Personal selling was used to market products There was an excess supply of product, and the consumer was the king
Manufactures could not keep up with customer demand
Successful airlines create value by offering
Many flights to destinations the consumer wants
When a firm implements a marketing concept to consider customer needs in its strategy, it then is said to have a ____ orientation.
Market
___ is the ratio of sales revenue of the firm to total sales in the industry, including the firm itself.
Market share
Market segmentation is most essential for what part of the planning phase of the strategic marketing process?
Market-product focus
One of the challenges of ___ is that prospective customers may not always know or be able to describe what they need and want, yet this is the tool commonly used for this purpose.
Marketing Research
For which of the following reasons is marketing considered beneficial? Marketing can improve global competition Packaging inherently makes products less expensive Marketing creates utility for customers Marketing can improve the quality of products and services
Marketing can improve global competition Marketing creates utility for customers Marketing can improve the quality of products and services
After John buys two boxes of macaroni and cheese at the grocery store with a five dollar bill. the store is better off because it has more money in the register and the consumer is better off because he has more food in his pantry. This is an example of which of the core aspects of marketing? Marketing requires rational decision making Marketing entails exchange between buyer and seller Marketing is about price, product, place, and promotion decisions Marketing requires a place to communicate
Marketing entails exchange between buyer and seller
product, price, promotion, place are known as the marketing ___
Mix
Match the following personal moral philosophies with the appropriate characteristics Moral idealism Utilitarianism Both
Moral idealism --> applies ethical duties, such as duty to do no harm Utilitarianism --> whenever benefits exceed the costs, a behavior is ethical Both --> learned through the process of socialization and by formal education
__ lifted many trade barriers between Canada, Mexico, and the United States and created a marketplace with more than 450 million consumers
NAFTA
In the United States, data about all economic activity is categorized into a hierarchical set of six-digit NAICS codes. What does NAICS stand for?
North American Industry Classification System
Which of the following are part of the implementation phase of the strategic marketing process? Comparing results with plans Obtaining resources Designing the marketing organization Developing a SWOT analysis
Obtaining resources Designing the marketing organization
Which two of the following are components of a SWOT analysis? Opportunities Segmentation Weakness Target Markets
Opportunities Weaknesses
____ buyers, in contrast with ultimate consumers, may buy products for resale as well as for their own use.
Organizational
Which of the following concepts is of LEAST critical importance to an organization's marketing program? Customer value Organizational Structure Customer Relationships Relationship marketing
Organizational Structure
What is the marketing concept era?
Organizations focus on identifying customer needs and using this to create value
Marketing typically impacts which of the following groups in society? Owners Customers Defunct Companies Suppliers
Owners Customers Suppliers
Step 1 of the planning phase in the strategic marketing process involves which of the following? Performing a situation analysis using SWOT Evaluating performance Creating a mission statement Setting goals
Performing a situation analysis using SWOT
In many settings, relationship marketing is more effective when there is
Personal, ongoing interaction between parties
Which of the following is NOT an element of the market mix that is part of a marketing program? Product Strategy Personnel Strategy Promotion Strategy Place Strategy
Personnel Strategy
Having the product available where consumers need it
Place
Which of the four P's represents the activities necessary to get a product to the customer where the customer wants it?
Place
Making an item easy to purchase
Possession
Match the important values of consumers with the illustrative examples provided Preserving the environment Marketing to children Social action Value consciousness
Preserving the environment --> investing the phosphate-free laundry powder Marketing to children --> banning the advertising of sugary cereals on Saturday mornings Social action --> a company donating a percentage of sales to cancer research Value consciousness --> Holiday Inn Express offering a less expensive alternative to its regular hotels
Which of the following is the best example of cause marketing?
Proctor & Gamble raises funds for the Special Olympics when customers purchase select company products
___ is the part of the marketing mix that aims at creating value for the consumer by providing features and benefits for the consumer needs.
Product
Which of the following are elements of the marketing mix?
Product Price Promotion
Match the marketing mix component with its corresponding definition Product Price Place Promotion
Product --> a good, service, or idea to satisfy needs. Price --> what is exchanged for the product Place --> a means of getting the product to the consumer Promotion --> a means of communication between seller and buyer
Match the component of the marketing mix to an example of enhancing value for customers through it. Product Price Place Promotion
Product --> a soft drink company releases a new diet soda Price --> a bank lowers its monthly fees for its checking accounts Place --> a restaurant offers takeout and home delivery Promotion --> a new hardware store uses direct mail postcards to announce its grand opening
Homemakers that make due with whatever type of pantry goods they could acquire is an example of which marketing ordination among businesses of that era?
Production
____ is the component of the marketing mix that provides a means of communication between a seller and a buyer.
Promotion
_____ is the part of the marketing mix that communicates the value of the product to the consumer in many ways, such as advertising, social media, and public relations.
Promotion
In context of customer value, which of the following are considered benefits? Corporate partnerships Quality After-sale service Production cost Convenience
Quality After-sale service Convenience
_________ marketing links the organization to its customer, employees, suppliers, and other partners for mutual long-term benefits.
Relationship
Which of the following is the best example of a large corporation using technology to realize the benefits of relationship marketing? Costco offers high quality products in large sizes to maximize value Ritz Carlton Hotel Staff observes and records customer preferences in its guest recognition system H&R Block provides standardized software for several different types of income tax filers United
Ritz Carlton Hotel Staff observes and records customer preferences in its guest recognition system
To serve both buyers and sellers, marketing fundamentally seeks to do which two of the following? Satisfy the needs and wants of customers Identify shareholder gaps Discover the needs and wants of prospective customers Identify appropriate corporate strategy
Satisfy the needs and wants of customers Discover the needs and wants of prospective customers
Which of the following represents a way buyers and sellers communicate so that marketing can occur for a magazine? Having the money to buy the magazine Purchasing the magazine for the first time Organizing the delivery of the magazine for several vendors Seeing the magazine on display in the bookstore
Seeing the magazine on display in the bookstore
Match the following external entity with the way in which it influences an organization and its marketing department Shareholders Customers Suppliers Other Organizations
Shareholders -> ownership Customers -> relationships Suppliers -> partnerships Other Organizations -> alliances
Though the ___ did not explicitly make the practice of price fixing illegal, courts have subsequently relied on it find it be so.
Sherman Act
Match each type of environmental force with a common consideration associated with it Social Economic Technological Competitive Regulatory
Social --> cultural changes Economic --> consumer income Technological --> electronic business technologies Competitive --> forms of competition Regulatory --> laws affecting marketing mix actions
In addition to considering its financial profit responsibility, organizations are increasingly shifting focus to areas like which two of the following? Social responsibility Tax laws Ethics Accounting Laws
Social Responsibility Ethics
Which of the following is true of the relationship between society and marketing activities? Marketing is almost completely isolated from society, so the two exist independently of one another There are societal forces that impact different competitors uniquely, and this is the only effect Society has no impact on marketing except as it pertains to the five environmental forces Society affects marketing and sometimes marketing has an important impact on society
Society affects marketing and sometimes marketing has an important impact on society
Planning, implementation, and evaluation are considered parts of the
Strategic marketing process
Match each part of the SWOT analysis with the specific business action that is preferred for it Strength Weakness Opportunity Threat
Strength --> build on it Weakness --> correct it Opportunity --> exploit it Threat --> avoid it
As a marketing manager plans new products to meet consumer needs, she should
Study previous new product launches to learn from the past successes and failures
The marketing department shapes and is shaped by many external people, organizations, and forces. Which of the following are external and influential but would not be considered environmental forces? New legislation Suppliers Energy Prices Shareholders
Suppliers Shareholders
A(n) ____ market is a specific group of potential costumers toward which an organization directs its marketing program (one word).
Target
Which of the following is often a trigger for an organization to rethink its business model? Technological innovation Customer satisfaction New marketing metrics Change in top management
Technological innovation
The National Do Not Call Registry has most impact on what practice?
Telemarketing
Which two of the following laws forbid monopolies or other actions that cause restrain in trade? The Clayton Act The Anti-Monopoly Law The Sherman Antitrust Act The Copyright Act
The Clayton Act The Sherman Antitrust Act
In order for marketing to occur, both parties involved must have which two of the following regarding their needs? The ability to satisfy a need The future ambition to discover an unsatisfied need The desire to satisfy a need An undiscovered need that could be satisfied
The ability to satisfy a need The desire to satisfy a need
Often there are differing interests among groups internal and external to an organization. How should these be handled?
The organization should seek a balance among differing interests
Which of these are characteristics of Generation Y
They are attracted to purposeful work They are interested in memorable and personal experiences They are passionate about the environment
Which two of the following are true of environmental forces? Their purpose is to apply pressure to organizations to improve global conditions. Promotional and pricing forces are examples. They are largely beyond the control of the marketer. Social and economic forces are examples.
They are largely beyond the control of the marketer. Social and economic forces are examples.
Which of these is a characteristics of Generation Z? They are now the largest living generation They have the broadest definition of diversity and inclusivity They are entering their retirement years They are self-reliant and family-oriented
They have the broadest definition of diversity and inclusivity
Which of the following is true of an organization's core values? They exist independently of its mission, norms and culture They should inspire and motivate employees to take productive action They develop from the bottom up, rather than top down They must be adapted to fit short-term financial concerns
They should inspire and motivate employees to take productive action
Match the examples to one of the alternative forms of competition Three internet providers with a combined 95 percent of market share A power supplier company with no competitor A pretzel manufacturer competing amongst a variety of snack manufacturers An avocado grower competing with many other avocado growers to sell to several grocery chains
Three internet providers with a combined 95 percent of market share --> oligopoly A power supplier company with no competitor --> pure monopoly A pretzel manufacturer competing amongst a variety of snack manufacturers --> monopolistic competition An avocado grower competing with many other avocado growers to sell to several grocery chains --> pure competition
Having the product available when needed
Time
Which two of the following are reasons to learn about marketing? To help in your career planning To minimize your personal tax burden To become a better consumer To more easily mislead shoppers
To help in your career planning To become a better consumer
Which of the following is the most fundamental goal of marketing?
To satisfy customer needs
The agency monitoring the American population profile specifically is called
US Census Bureau
For an organization performing a SWOT analysis, a threat is which of the following? Internal External Favorable Unfavorable
Unfavorable External
Historically, which of the following is recognized as the world leader in GDP?
United States
which three countries are the leaders in global merchandise trade
United States China Germany
Match the following companies with the strategy they use to deliver value to their customers. Wal-Mart Nike Home Depot
Wal-Mart -> Best Price Nike -> Best Product Home Depot -> Best Service
Inexperienced managers would be considered what in a SWOT analysis?
Weakness
Challenges sometimes exist in marketing very innovative products. When apple first introduced the personal computer to the market, creating a new industry, consumers did now know
What needs it would fulfill
Which of the following is NOT an external search for information when looking to purchase a new car?
You recall each of the four Toyota cars your mother has owned, which you loved
NAFTA benefits many organizations and groups, including
a Canadian company that can now produce its product in the United States with fewer trader barriers
An example of a franchise is
a McDonald's restaurant
The planning gap is an example of ___
a comparison of projected sales for current plants and a new sales goal
which two of the following are essential to brand loyalty? a consumer using a reward card a consistent purchase behavior of single brand a favorable attitude toward a single brand evaluating multiple brands at the point of purchase
a consistent purchase behavior of single brand a favorable attitude toward a single brand
A marketing plan is a road map for marketing actions for
a future time period
A U.S. hotel company is planning to expand in Europe. It creates a British company with a local business person, where the U.S. company holds 60 percent of the new firm, and the British partner holds 40 percent. This is an example of
a joint venture
The higher a country's purchasing power, the more likely it is to also have
a large proportion of middle-income households
Consumerism is ____
a movement to increase the power and rights of consumers in dealing with institutions
Social class is determined by which two of the following? a person's education a person's occupation a person's level of income a person's brand preferences
a person's education a person's occupation
Which two situations are considered illegal under the Clayton Act?
a powerful seller requiring all its distributers to only sell its products A dominant seller imposing conditions such as forcing the purchase of one product in order to buy another
Which two best describe how demographics play an important role when launching a new product?
a product may be designed for a specific gender a product may be targets toward a specific age group or generational cohort
Which of the following is a major population shift happening in the US?
a regional shift toward southern and western states
Taking a trip to climb Mount Kilimanjaro to fulfill a personal dream would best be called
a self-actualization need
A goal is ___
a statement of a task to be achieved
When a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures to lower costs or increasing products' value it is called
a supply partnership
Problem recognition is perceiving the difference between the ___ state (the consumer is currently hot and thirsty) and the ideal state (the consumer is refreshed from drinking a cool lemonade)
actual
When advertising differs between global markets but the product remains the same, a firm is using a communication __ strategy
adaption
Think of the three approaches marketers use to change consumer attitudes toward products and brands. Which of the following would be the best way for marketers at Proctor and Gamble to change a consumer's attitude towards Tide?
add a new ingredient to its formula
Self-regulation is ____
an alternative to government control in which industry attempts to police itself
The marketplace is defined as
an electronic exchange environment with computer technologies and digitalized offerings
Which of the following is most likely to be felt by a customer experiencing perceived risk?
anxiety
Green marketing is
any effort to produce, promote, or reclaim environmentally sensitive products
Karen just got a haircut and she is not sure if was the right decision for her. To relieve her cognitive dissonance, she might engage in which two of these behaviors now? asking her friends for feedback on the cut noticing that other hairdressers are cheaper noticing other fashionable consumers with similar haircuts posting negative word of mouth online
asking her friends for feedback on the cut noticing other fashionable consumers with similar haircuts
Which of the following are types of reference groups with clear implications for marketers?
associative group dissociative group aspiration group
According to the Census Bureau, a micropolitan statistical area will become a metropolitan statistical are when the urbanized area population reaches
at least 50,000
A learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way is a(n) ____
attitude
Culture is defined as a learned and shared set of which of these? attitudes technology ideas values
attitudes ideas values
Which of these characteristics are central to defining culture? attitudes values technology opportunity
attitudes values
Retirement housing is most likely to appeal to which generation?
baby boomers
The process of developing automatic responses to a situation built up through repeated exposure to it is called
behavioral learning
In an ethical exchange, both buyer and seller should be __ afterward
better off
The presence of a stepparent or stepchildren indicate what type of household?
blended family
When Hallmark produces cards to give to a step-parent, it is marketing to what type of household?
blended family
Seven in 10 of the most populous cities in the uS today are in states that
border mexico
You are purchasing a magazine. For marketing to occur, there will be an exchange which must include
both the magazine and the money
A(n) ___ is a specialized group of consumers with a structured set of relationships involving a particular brand, fellow customers of that brand, and the product in use
brand community
Business-to-___ marketing refers to marketing of goods and services to organizations for use in the creation of goods and services that they can produce and market to others
business
Social responsibility can be challenging for companies because many US consumers claim to be willing to change their lifestyle to improve the environment
but they may be unwilling to pay higher prices to do so
A company that has successfully entered a foreign market via exporting first, then formed a joint venture might want to engage in which type of strategy next?
buy back the joint venture shares and own directly the company
A high-involvement purchase will typically have which characteristics?
can have serious personal consequences is typical for products that could reflect on one's social image
Moral idealism considers
certain individual rights or duties as universal
Select from the following the three approaches marketers use to change consumer attitudes toward products and brands
change beliefs about the extent to which a brand has certain attributes add new attributes to the product change the perceived importance of attributes
A(n) ___ of ethics is a formal statement of ethical principles and rules of conduct.
code
An advertisement for a security company cites various crime statistics to make consumers aware of growth in home theft and how security systems impact the rate of victimization. The consumer looking at the ad will have to use ___ learning in order to process the information
cognitive
___ learning includes observing the outcomes of others' behaviors and adjusting your own accordingly.
cognitive
About which of the following should a marketer be especially careful in order to be sensitive to the Consumer Bill of Right?
collecting personal information from online consumers
Which is not a stage in the organizational purchase decision process?
commercialization
An organization's core ___ are its special capabilities, including skills, technologies, and resources that distinguish it from other organizations and provide value to its cusotmers.
competencies
global __ among firms exists when they originate, produce, and market their products worldwide
competition
When an organization's core competency is distinctive enough in comparison to others in an industry, it many provide a(n) ___ advantage.
competitive
For a U.S. based company trying to sell its products overseas, the native language of different countries can __ the country's ability to market their products to foreign customers
complicate
The marketing _____ is the idea that an organization should strive to satisfy customer needs while trying to achieve its goals (one word)
concept
Jackson wants to buy a new cell phone. Of the brands that Jackson recalls, those he thinks he would actually buy are his ___ set
consideration
The consumer's ___ set is the group of brands that a consumer would consider acceptable among all the brands ow which he is aware.
consideration
A global brand uses __ product formulations and advertising in multiple countries, and __ certain aspects of its offerings only when necessary
consistent; adapts
The right to safe products and to be informed by businesses that sell them are part of the ___ Bill of Rights
consumer
The actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions, is known as
consumer behavior
A __ shows multiple consumer touchpoints that take on central roles at different times during the purchase process
consumer journey map
The process by which children learn how to save money and use a bank account is part of an overall process known as
consumer socialization
Bridgestone/Firestone was slow to recall tires that had been linked to dangerous crashes. Under stakeholder responsibility, the firm should have considered effects of its actions on
consumers
An organization's ___ are the fundamental, passionate, and enduring principles that guide its conduct over time.
core values
The overall strategy for the entire organization is set at the
corporate level
Which two of the following are the most common unethical behaviors when it comes to competition in business? corruption sale of faulty products privacy violations economic espionage
corruption economic espionage
Bartering, or trading without money, in a global context is called
countertrade
Which two of these approaches can be most useful when trying to reach the female market for a traditionally male-focused product?
create products with fewer gender distinctions engage female customers with special promotions
Marketing is the activity that does which of the following with offering that benefit the organization, its stakeholders, and society at large?
creating communicating delivering
Evaluative ___ are product attributes that are used to compare different offerings when making a purchase decision
criteria
The main factors analyzed in a __ analysis are values, customs, cultural symbols, language, and ethnocentricity
cross-cultural
A small group of people from different departments who are mutually accountable to accomplish a task or common goals is known as a(n)
cross-functional team
The tendency for people to view their own cultural values, customs, symbols, and language as superior to another's is called
cultural ethnocentricity
It is a difference in ___ that guides consumers in China to prefer cookies that are slightly sweeter and buyers in South America to prefer cookies that are much sweeter than in the United States
culture
Organizational ___ is defined as a set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization.
culture
Which of the following is NOT a reference group that might influence a buyer's choices and behaviors? classmates family culture sorority sisters
culture
The __ of giving token business gifts is popular in many countries where they are expected and accepted
custom
The unique combination of benefits received by targeted buyers at a specific price is known as
customer value
A marketing ___ is the visual computer display of the essential information related to achieving a marketing objective.
dashboard
For important non-routine purchases, the person with formal authority to approve the supplier is the __, often someone in a specific functional area
decider
The ___ role is sometimes fulfilled by the buyer in the buying center, but sometimes is done by someone else for important technical purchases
decider
organizational buying behavior revolves around a __ that has similarities to consumer buying behaviors
decision-making process
Derived demand refers to the concept that demand for industrial products is driven by
demand for consumer products
Social forces include ___ characteristics of the population and its culture?
demographic
Describing a populating with characteristics like age, gender, ethnicity, and income is referred to as
demographics
A social audit is used by organizations to
develop, implement, and evaluate social responsibility efforts
Points of ___ are characteristics of a product that make it superior to competitive substitutes.
difference
A joint venture is less risky than
direct investment
When a domestic firm creates and owns a foreign subsidiary or division, it is using which global entry strategy?
direct investment
An organization's foundation enables it to set its ___ in terms of the business it is in and its specific goals
direction
The money a consumer has left after paying taxes is called
disposable income
Global marketers may devise creative solutions for getting their products to hard-to-reach consumers in developing countries. This type of solution is part of the firm's
distribution strategy
When a company adapts its product and its marketing communication message to the local country, it is an example of
dual adaptation strategy
__ is when a firm sells a product in a foreign country below its domestic price below it actual price
dumping
Online trading communities that bring buyers and supplier organizations are known as
e-marketplaces
The Generation Y cohort is also sometimes called which of the following?
echo-boomers
Pepsi-Cola received an offer from a Coca-Cola employee to purchase a confidential marketing plan for a new Coke product. Has this transaction been carried out, it would have been an example of
economic espionage
The clandestine collection of trade secrets or proprietary information about competitors is known as
economic espionage
A country's communication, transportation, financial, and distribution systems together are known as its
economic infrastructure
Despite financial difficulties and legal red tape, Coca-Cola invested $750 million to building bottling and distribution facilities in Russia. The problems the firms faced were a result of an underdeveloped
economic infrstructure
Rates of unemployment and inflations, as well as consumer income levels, are ways that the health of the ___ can be measured
economy
The ___ is one of five components of an environmental scan because businesses are impacted by forces such as inflation, productivity, and consumer income.
economy
Electronic commerce is defined as
electronic communication used in the inventory, exchange, advertisement, distribution, or payment of products
Market challengers in a low-involvement product category should focus on which of these strategies?
encouraging trial of the brand with samples and coupons breaking buying habits
Barriers to entry refers to business practices or conditions that block other firms from
entering the market
Changes in ___ forces affect conditions for a business and therefore heavily influence the appropriateness of various marketing tactics
environmental
Economic ___ is the clandestine collection of trade secrets or proprietary information about a company's competitors
espionage
___ are the moral principles and values that govern the actions and decisions of an individual or group
ethics
Which two of the following are common demographic measure? ethnicity age price profit
ethnicity age
When the French perceive American fast food as "not even food" they display cultural
ethnocentricity
Having completed an information search, a consumer's next step in decision making is ____
evaluation of alternatives
Jon is using ___ ___ when he bases his decision to purchase textbooks on price, condition and location
evaluative criteria
One of the core aspects of marketing, borrowed from economic, includes a(n) exchange, which is a transaction in which things of value are traded between the buyer and seller (one word).
exchange
Market development is a strategy to sell ___ products to new markets
existing
A market penetration strategy attempts to increase sales of present products among
existing customers
Which of the following global entry strategies involves the least amount of control of a product or service in the foreign market?
exporting
Which of the following is the prominent global market-entry strategy for small- and medium- sized companies?
exporting
__ is one of four global market-entry strategies, the one in which products are produced in one country and sold in another
exporting
Match each of the following global market entry strategies with the correct definition exporting licensing joint venture direct investment
exporting-producing products in one country and selling them in another licensing-offering the right to trademark, patent, trade secret, or other intellectual property for a fee joint venture- investing together with a local firm to create a local business that shares control and profits direct investment- investing in and owning a foreign subsidiary or division
Kathy has a broken washing machine and she searches online for many hours comparing several brands and features. The she goes to three appliance dealers to review those models and consults with the sales staff about delivery, installation and price. in the store from which she finally makes her purchase, they give her a demonstration of the machine. Kathy's purchase is an example of the ___ problem-solving variation.
extended
Coca-Cola, Gillette razors, Wrigley's gum, and Levi's jeans can effectively be sold abroad with a product __ strategy
extension
The ___ is one of the most substantial influences on buyer behaviors and attitudes. It is the smallest, most immediate reference group with whom one learns how to use consumer products and services and the brands they often continue to use for life
family
Firms selling to organizational buyers have __ potential customers compared to firms selling to consumers
far fewer
To what does "opportunity" refer in SWOT analysis?
favorable aspects of the external evironment
There is global competition in fields of pharmaceuticals and telecommunications because these products __ national borders
flow across
The Lanham Act provides
for registration of a company's trademarks
U.S. legislation known as the __ makes it a crime for companies to bribe officials of a foreign government in order to obtain or retail business in another country
foreign corrupt practices act
The marketing department as a whole is part of the ___ level, in terms of strategy within an organization.
functional
A salesperson has attempted to follow up with a client on multiple occasions to answer some questions about renewing a contract, but the receptionist will only put her through to voice mail. Here, the receptionist acts as a(n) __ in the buying center
gatekeeper
The __ controls the flow of information and may prevent it from reaching other members of the buying center
gatekeeper
When Marriott uses its name on a second line of properties, Courtyard by Marriott hotels, it uses the behavioral learning theory called stimulus
generalization
What is the term for a group of individuals who are of the same generation?
generational cohort
McDonald's is a(n) __ brand; while its French fries and Ronald McDonald are standardized worldwide, some if its menu items very to suit local tastes
global
The youth market exhibits similar needs and wants throughout the world, and is a good example of a(n) __ consumer
global
Businesses can pursue several different types of ____ that they would like to achieve, such as those pertaining to market share, quality, or customer satisfaction.
goals
organizational buyers are divided into which of the following markets
government industrial reseller
A firm selling televisions knows from marketing research that when consumers in developing countries reach on average a yearly income equivalent to $1,000 they are more likely to purchase one of their televisions. Such a low income is sometimes enough because
governments in developing countries often subsidize necessities, leaving money for other items
When products are sold through unauthorized channels, often because of discrepancies in pricing between countries, __ has developed
gray market
When a company like 3M has a formal program to reduce pollution and recycle material, it is pursuing
green marketing
GDP stands for
gross domestic product
Which two of the following are macroeconomic factors? gross domestic product gross income discretionary income inflation
gross domestic product inflation
The total amount of money made in one year by a person, household, or family unit is referred to as
gross income
Which of the following may occur during the postpurchase behavior stage of the purchase decision process?
having cognitive dissonance comparing a product to one's expectations feeling satisfied or dissatisfied
Casey is looking to buy a new replacement set of golf clubs. After he settles on a particular set of Callaway clubs, what are the next two choices Casey has to make?
he needs to decide WHEN he will make the purchase he needs to determine for WHOM he should buy
Baby boomers would be least likely to purchase which of the following products or services?
high-risk investments
In which of the following industries is economic espionage prevalent?
high-technology
Which of the following family and living arrangements are increasing in the US?
households with an adult child living with parents Households with same-sex partners
Regarding consumer attitudes, beliefs are best described as a consumer's subjective perception of
how a product or brand performs on different attributes
Which of the following are considered primary motivations for buying and having products, according to the VALS system?
ideals self-expression achievement
A local organization that promotes enhanced reading skills and an increased global perspective resulting from reading library books is an example of marketing
ideas
Goods, services, and ___ are marketed.
ideas
For the global marketer, consumer ethnocentrism is important to understand because
imported products can be rejected by local consumers on that basis alone
A consumer's ability to buy is related to ____, which consists of gross, disposable, and discretionary components
income
Which two of the following are indices of consumer expectations that are useful for understanding the state of the economy?
index of consumer sentiment consumer confidence index
Some organizations, known as ___ firms, reprocess a product or service they buy before selling it again to the next buyer
industrial
Organizations that develop similar offerings, when grouped together, create a(n)
industry
In a(n) __ economy, the cost to product and buy products escalates as prices increase
inflationary
Depending on the product, there may be a person who act as a(n) __ in the buyer center, often by providing specifications for the product being purchased or the vendor being considered
influencer
Which of the following are roles within a buying center?
influencer user gatekeeper
Match each buying role with the correct description influencer buyer user gatekeeper
influencer-person who affects the decision, often by helping define specifications buyer-person who has formal authority and responsibility to select the supplier user-person who actually uses the product gatekeeper-person who controls the flow of information
Word of mouth is best defined as
influencing people during conversation
After the consumer consumer completes the problem recognition stage in the purchase decision process, she then begins the ___ stage
information search
In which stage of the organizational purchase decision process would a consumer collect product data from the internet or magazines like Consumer Reports
information search
Barry needs a new pair of running shoes. He first thinks about the last pair he bought, how comfortable they are, and how well they have held up. He is conducting a(n) __ search for information
internal
Locating information from one's own memory and knowledge is known as a(n) ___ information search
internal
Routine purchases may only require ___ information search, whereas one-time high expense purchases require more ___ information search time
internal; external
Because of its broad reach, the __ is a promising tool for companies that wish to market globally, even though they must adapt their language or messages
internet
Environmental scanning is necessary for an organization to
interpret trends that may be a source of opportunity
Which of the following are among the goals of environmental scanning
interpreting and identifying trends continually acquiring information on external events
The trade feedback effect
is an argument in support of free trade
It can be difficult to define discretionary versus disposable income because
it is hard to determine what a luxury and what is a necessity
Which of the following are true of bribery? it is more common in countries in the earlier stages of economic development bribes are a form of corruption that provides personal benefit to an authority figure it is most common in consumer marketing than in government marketing it is more common in industries experiencing low levels of competition
it is more common in countries in the earlier stages of economic development bribes are a form of corruption that provides personal benefit to an authority figure
A(n) __ venture is a global market-entry strategy that creates a partnership between a local and a foreign firm that will share ownership, control, and profits from the new company
joint
Which of the following are society's values and standards that are enforceable in the courts?
laws
An organizational culture is
learned and shared among members of an organization
Which two of the following are considered psychological influences on the purchase decision process? learning reference groups temporal effects value, beliefs, and attitudes
learning value, beliefs, and attitudes
When entering their first foreign markets, firms typically take a(n) __ approach like exporting
less risky
Organizational strategies can vary by ____, such as when top managers are creating a mission statement and functional employees are determining the content of a script for a sales call.
level
Franchising a variation of __ that can be used in foreign countries as a market entry strategy
licensing
__ is one of four global market-entry strategies, the one in which a company offers the right to a trademark, patent, or other intellectual property in return for a fee.
licensing
The family ___ ___ concept describes the distinct phases that a family progresses through from formation to retirement
life cycle
a consumer's ___ is identified partly by what that person considers important in her environment and what she thinks of herself and the world around her
lifestyle
Two consumers each earn $87,000 annually but they spend their money quite differently. The first owns four motorcycles and enjoys hunting and fishing. The second plays golf weekly and drives an SUV. The marketing manager might target these two consumers as part of two different segments based on their ___
lifestyles
Mason is trying to decide where to go for lunch. He wants to try a new place. He asks his coworkers for suggestions about where he should go. He is demonstrating which type of problem solving?
limited
Which of the following are problem solving variations for consumer purchase decisions? routine limited situational involved
limited routine
Which of the following is the best way the marketing department can perform its key role of looking outward?
listening to customers
To define its business, an organization can start by...
looking at the set of organizations that sell similar offerings
Randall did not go through all the stages of the decision process when he bought potato chips at the convenience store. This is because he has ___ involvement in this purchase
low
The essence of marketing is that firms gain ___ customers by providing ____ value
loyal; unique
During the sales-oriented era
manufacturers were able to produce more than consumers were able to buy
Customers that desire to own a lexus, that can afford to do so, that have the time and ability to visit a dealership would be considered to be in lexus' _____
market
Which of the following is NOT one of the four major growth strategies in diversification analysis? Market analysis Market development Product development Market penetration
market analysis
Which steps of the planning phase of the strategic marketing process involves developing a plan for how to satisfy customer needs, while the who and what aspects have been determined previously?
marketing program
A marketing metric is a ___ of the quarantine value or trend of a marketing activity or result
measure
A ____ statement describes an organization's function in society and often identifies its customers and products
mission
A visionary organization's core values, ____, and organizational culture make up its foundation
mission
The changes made to an order for a previously purchased product in a __ typically requires expanding the buying center to include people outside the purchasing department
modified rebuy
According to the latest US census, the US population is becoming larger, older and
more diverse
Recently there has been a notable shift in US population from the suburbs to
more remote suburbs known as exurbs
The energizing force that stimulates behavior to satisfy a need, such as having no laundry detergent to do the wash or running out of printer paper when you have a term paper due is known as
motivation
Developing marketing programs that reflect the unique aspects of different races is known as
multicultural marketing
When Lever Europe markets its Snuggle fabric softener under seven brand names in 10 European countries, and varies its packaging, advertising, and even its formula in those markets, it is using a(n) __ marketing strategy
multidomestic
Companies using a(n) __ marketing strategy have as many different product variations, brand names and advertising programs as countries in which they do business. Those with a(n) __ marketing strategy standardize marketing activities when there are cultural similarities and adapt only where there are differences.
multidomestic; global
Which of the following is a new census category that tracks the US population?
multiracials
In defining one's business, one should avoid a(n) ____ definition that is not focused on customer ____.
narrow, needs
Discretionary income is the money left after paying for taxes and
necessities
Match the following three buy classes to their characteristics new buy modified rebuy straight rebuy
new buy-the biggest buying center modified rebuy-minor changes to an existing order straight rebuy-shortest decision time
Which of the following are the recognized buy classes in organizational buying?
new buys modified rebuys straight rebuys
The product development strategy involves marketing a ___ product or service to a ___ market for the organization
new; current
As an organization whose primary organizational goal is operational efficiency or client satisfaction would be classified as a(n)
nonprofit organization
A pure monopoly occurs when ___ sells the product
only one firm
Individuals who exert direct or indirect social influence over others are called ___ leaders
opinion
Growing demand for one's product is an overseas market is a(n) ___ for an organization
opportunity
__ buyers include manufactures, wholesalers, retailers, and government agencies.
organizational
Firms or agencies that buy goods and services for their own use or for resale are known as
organizational buyers
Evaluative criteria in the consumer decision process are most similar to what?
organizational buying criteria for business buyers
Both businesses and consumers perform some kind of evaluation of their purchases after they complete, but
organizational buys are examined more formally
During the sales-oriented era, firms found an answer to their ____ by adding salespeople to find new buyers
overproduction
A gray market is also known as
parallel importing
Social responsibility means that organizations are
part of a society and accountable to it for their actions
____ is a individualistic process; one sees the Cadillac as a mark of achievement, another sees it as ostentatious
perception
Jonah is impressed by the large in-ground swimming pool his next door neighbor bought. He goes to Aqualife Pools and has an even bigger one installed in his yard. In terms of Maslow's hierarchy, Jonah is responding to his ___ need for status and prestige
personal
___ is often identified by researchers through the use of key traits, or enduring characteristics of a person
personality
___ traits include assertiveness, extroversion, and dominance
personality
The motivation that drives Jon to buy a bottle of Gatorade after a 6-mile run and drink it quickly is a(n) ___ need
physiological
The needs for shelter and food can be categorized as ___ needs, while the need for designer fashions can be classified as a ___ need
physiological; personal
The ___ is the difference between the projection of the path to reach a new sales revenue goal and the projection of the path of a plan already in place
planning gap
Which three environmental factors affect firms competing globally in strikingly different ways than they do firms operating domestically?
political-regulatory factors economic factors cultural factors
During the last stage of the purchase decision, known as. ___, a consumer compares a purchased product with his or her expectations
postpurchase behavior
Which of the following is a way that technology can improve existing products and the ways they are produced?
precycling
Match the important values of consumers with the illustrative examples provided preserving the environment marketing to children social action value consciousness
preserving the environment --> investing in phosphate-free laundry powder marketing to children --> banning the advertising of sugary cereal on Saturday mornings social action --> a company donating a percentage of sales to cancer research value consciousness --> Holiday Inn Express offering a less expensive alternative to its regular hotels
Possible opportunities for firms can include all of the following EXCEPT which? An untapped market Extending brand to another category Prestigious brand name International expansion
prestigious brand name
Of the 4 P's, ___ is whatever the buyer gives up in exchange for the product, like money, time or energy
price
Germany did not allow Walmart to sell some items below cost, an example of how a foreign government can constrain ___, which here made it impossible for Walmart to compete with local discount stores
price strategy
Perceiving the difference one's ideal and actual situations is the initial stage of the purchase decision process, one that is known as ___ recognition
problem
A company determines that it needs machine vision capability and the expertise of the German industrial firm Maschine. They decide that two firms working together can help to determine the best kind of system for the customer. This would occur during the ___ stage of the organizational purchase decision process
problem recognition
Put the five stages of the purchase decision process in the sequence in which they occur for high involvement purchases information search postpurchase behavior purchase decision problem recognition alternative evaluation
problem recognition information search alternative evaluation purchase decision postpurchase behavior
A(n) ___ is a good, service, or idea consisting of a bundle of tangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value
product
The ____ strategy offers a new product or service to a firm's existing market
product development
What are the three primary ways a product can be sold globally?
product extension, product adaption, and product invention
In searching for growth opportunities, organizations using diversification analysis consider both current and new options for which of the following? Portfolios Products Markets Metrics
products market
There are pros and cons of each foreign market-entry strategy. As the level of __ potential increases, so does the financial commitment, risk, and marketing control.
profit
___ is the money left over after a business firm's total expenses are subtracted from its total revenues and is the reward for the risk it undertakes in marketing its offerings.
profit
___ responsibility holds that companies have a simple duty: to maximize profits for their owners or stockholders
profit
Which of the following are examples of government legislation designed to protect the consumer? prohibition of unsafe products restrictions on low-price strategies employee safety standards laws against false advertising
prohibition of unsafe products laws against false advertising
A market research firm has identified a particular group of consumers. They seem to value thriftiness and care for the environment, yet at the same they like their comfort and live in homes located near downtown. In describing this new segment of consumers the market research firm is using which two of these to identify them?
psychographics geography
According to the consumer behavior model, which of the following are major categories of influence on the purchase decision process? childhood influences psychological influences sociocultural influences spending influences
psychological influences sociocultural influences
In the __ stage of the organizational buying decision process, the firm awards contracts to one or more of its preferred suppliers
purchase decision
You have chosen the latest Samsung Galaxy Edge as your next smartphone. You now think you'll buy it at the Best Buy close to your mother's house on Friday when you get paid. At what stage of the decision process are you?
purchase decision stage
A(n) __ designates the maximum quantities of product that may be brought into a country during a specified time period
quota
Which of the following represents an example of the first stage in the purchase decision process?
realizing you're running low on gas
From which two sources is learning derived? repeated experience physiological needs personality traits reasoning
reasoning repeated experience
An environmental scan will include ____ forces impacting a business by way of state and federal laws that may restrict its activities
regulatory
Because culture is a socializing force that dictates what is morally right, moral standards are
relative to particular societies
When adjusted for inflation, gross income has been ___ since 1970
relatively stable
The industrial buying practice in which two organizations agree to purchase each other's products and services is known as ___.
reprocity
retailers and wholesalers are organizational buyers that part of which market?
reseller
A company adopting social ____ is purposefully acknowledging its accountability to a larger society.
responsibility
When the product information is lengthy and complex, store employees often give the consumer a brochure to take home. They know that consumers often have selective
retention
in a(n) __ auction, there are many suppliers involved and buyers benefit from the lower prices generated from this type of auction
reverse
Alexis chose Armand Plumbing for her remodel. She had noticed the Better Business Bureau logo on the website, and it probably worked to limit her perceived
risk
Direct investment is the __ type of global entry strategy
riskiest
The changing attitudes and ____ of men and women in the marketplace is one of the most notable cultural changes in the US in the past 30 years
roles
Benny is shopping at the grocery store. He picks up milk, bread, eggs, and frozen pizza, the same items he typically buys at each visit. What variation of problem solving is Benny using here?
routine
Trade regulations can seriously affect a global marketers planning a telemarketing campaign; there are a variety of
rules about privacy and direct marketing in some countries
Hayley works at a convenience store and often is responsible for closing on the weekends. To ease her mind about being alone late at night, she enrolled in a self-defense course. In terms of the hierarchy, she is driven by her ___ needs
safety
When an industry attempts to police itself with guidelines for practice, this may help that industry to avoid government interference. This idea is known as ___
self regulation
Which of the following examples best illustrate each of the hierarchical needs for a week's stay in a hotel self-actualization safety social personal physiological
self-actualization --> the guest enjoys the hiking and meditation options that are on the mountain very close to the hotel safety --> there are adequate precautions taken to prevent individuals not staying in the hotel from gaining access to the floors where guests stay social --> the hotel has a bar on the premises that offers trivia nights and live music with dancing for guests personal --> the hotel offers guest suites at three premium levels beyond the regular room physiological --> one restaurant in the hotel is open 24 hours a day for a nourishing meal
A person's __ is the way people see themselves and the way they believe others see them
self-concept
consumer touchpoints for North Face, an apparel company, would include which of the following?
shopping exposure to North Face at Kohl's department store discussing North Face with a friend who owns a jacket seeing a North Face advertisement in Outdoor magazine
The majority of the competitive landscape in this country is made up of
small businesses
Consumers who are increasingly expecting companies to be the transparent, authentic and socially responsible is specifically an example of a(n) ___ force
social
Kate just moved to a new town and she joined a local tennis club to meet some people in her area despite the fact that she had not played in many years. In terms of the hierarchy, by joining the club she hoped to fulfill her __ needs
social
Match each type of environmental force with an example of it social technological competitive regulatory
social --> increasing expectation for experimental relationships with companies technological --> increase in mobile marketing competitive --> increased ability to leverage customer-generated content as an advantage regulatory --> interest in changing federal and state consumer credit laws
companies use ___, with common divisions of upper, middle, and lower, as a basis for identifying and reaching good prospects for their products
social class
Profit responsibility, stakeholder responsibility, and societal responsibility are the three concepts of
social responsibility
A personally or socially preferable mode of conduct or state of existence that tends to persist over time is called a
societal value
Personal influence, reference groups, family influence, and culture are types of ____ influence on the consumer purchase decision process
sociocultural
Bob and Jenny are planning a family vacation. Because he has to ask time off of work, Bob selects the week they will travel. Jenny, however, decides their travel destination, what activities they will participate in while on vacation, and she also books the airline and hotel rooms. This exemplifies which decision-making process?
spouse-dominant decision making
When an organization focuses on the obligation it has to consumers, employees, suppliers, and distributors it is accepting its __ responsibility
stakeholder
A global environmental scan, marketing research, and judgements based on experience will determine the extent of __ that global marketing programs will have
standardization or customization
A(n) __ rebuy occurs when an organizational buyer simply reorders additional units of products with no changes from an approved supplier
straight
A marketing ___ is the means by which a marketing goal is to be achieved, whereas marketing ___ are detailed day-to-day operational decisions essential to the success of the former.
strategy tactic
___ refer to the favorable internal attributes of the firm
strengths
Seeing or hearing messages without being aware of them is known as __ perception
subliminal
The deliberate effort by organizational buyers to build relationships that shape suppliers' products and capabilities to fit a buyer's need is known as
supplier development
For organizational buyers, supplier development results in
supplier products and capabilities that fit the buyer's needs
While an intranet allows for electronic communication within the boundaries of an organization, an extranet allows for communication with
suppliers and distributers
What are some characteristics that describe Generation X?
supportive of racial and ethnic diversity born between 1965 and 1976
Which of the following is a value that is of growing importance both in the United States and worldwide?
sustainability
Companies that evidence ___ marketing typically benefit from favorable word of mouth, and outperform other companies financially
sustainable
__ development involves conducting business in a way that protects the natural environment while making economic progress
sustainable
The "thumbs up" sign is offensive in Russia when the palm of the hand is shown, so this __ should be altered to show the back of the hand in advertising here
symbol
A(n) is tax levied on a good imported into a country
tariff
Consumers will make spending adjustments due to a direct change in disposable income when
taxes rise or fall faster than income
Changes in which of the following has been the driving force for growth in global markets?
technology
___ is an environmental force that involves developing applications from science or engineering research
technology
A nation's balance of trade is
the difference in monetary value between its exports and imports
An information- and communication-based electronic exchange environment occupied by computer technologies and digitalized offerings is called
the marketspacebe
Because of the European Union's adoption of the euro ___
the need to continually monitor currency exchange rates has been eliminated
Match the following situational influences with the correct example the purchase task social surroundings physical surroundings temporal effects antecedent states
the purchase task --> you need to buy a gift for a friend's birthday party social surroundings --> your mom decides to come with you when you say you're going to the mall physical surroundings --> you like the look of the new sushi restaurant, but the chairs are really uncomfortable temporal effects --> you just heart the store manager announce that the store will be closing in ten minutes antecedent states --> you just ran into a friend who paid you back the $20 dollars he owes you
Which of the following describes the situational influence known as physical surroundings
the store layout, decor and music
Legislation that allows companies to protect themselves from competitors copying their property includes both
the trademark law and copyright law
The primary difference between indirect and direct exporting is that the former involves __ while the latter does not
the use of intermediaries
Which two of the following are the variables with which the VALS system categorizes buyers? their preferred learning styles their primary motivation for buying and having products their resources their education levels
their primary motivation for buying and having products their resources
In a competitive context, which two of the following will increase the power of a firm's buyers in exchanges? the product is inexpensive for the buyer there are relatively few buyers of the firm's product there are low switching costs, so buyers can easily find another source the product is a service rather than a tangible good
there are relatively few buyers of the firm's product there are low switching costs, so buyers can easily find another source
In an environment scan, economic, and political-regulatory factors are most important for the firm operating globally because
these factors can have the most striking differences from the domestic market
Which of the following is true of unmarried partner households in the US?
they are among the fastest-growing types of households
In cause marketing, charitable contributions are not outright contributions but rather are
tied to customer revenues produced through the promotion of one of its products
The underlying reason that Nissan Motor Company, an organizational buyer, switched its advertising agency was
to increase revenues
Economic integration has been advanced by agreements like NAFTA that promote free __ between member nations
trade
In a(n) __ auction, products are simply sold to the buyer with the highest bid
traditional
For marketing to occur, there must be ____ with unsatisfied needs.
two or more parties
People who use the goods and services purchased for a household are known as
ultimate buyers
Which of the following are likely consequences of a recession?
unemployment rises businesses decrease production
The majority of business people feel that it is OK to "get around the law if you don't actually break it" but this may be a rationalization of ___ behavior
unethical
A secretary who requests a new laser printer to speed up his work most likely has what role in the buying center?
user
Within the buying center, you are considered the __ when you are the one using the product within your organization
user
The marketing manager for a brand of root beer often has difficulty convincing buyers to pay for high-quality soda. Frequently, women but it but do not drink it. They will buy store brands for other family members, hoping to save money. This exemplifies a problem in family decision roles: sometimes the ___ is not the ___
user; buyer
___ is a personal moral philosophy that focuses on "the greatest good for the greatest number."
utilitarianism
Which two of the following are personal moral philosophies that have the most direct bearing on marketing practice? utilitarianism normative ethics moral idealism hedonism
utilitarianism moral idealism
Customer ___ reflects the relationship of benefits to price, or what you get for what you give.
value
Using technology for the development of new products creates ___ for customers
value
___ consciousness is the concern for obtaining the best quality, features, and performance or service for a given price
value
Attitudes toward product are shaped by our
values and beliefs
A(n) ___ is an employee who reports illegal or unethical actions of their employers.
whistle-blower
Which of the following is NOT a way to perform an internal search for information when deciding where to go get lunch?
you go to a new area of town and look around
Which two of the following may cause you to make a purchase sooner than you had planned? you had an easy and pleasant shopping experience the preferred brand is on sale you learn of a new product from a competitor that is due to be released soon you dont get paid until next week
you had an easy and pleasant shopping experience the preferred brand is on sale