MKTG 380: Midterm Question

​You are explaining the elements of your bookstore's marketing strategy to a summer intern. Which of the following do you include?

- A wide array of bestselling fiction and nonfiction titles - Prices competitive with online sellers - Advertising in local newspapers - A target market of adults 18-62

​Many buyers of your luxury line of fine jewelry are middle class. You're not surprised, since middle-class consumers often buy items they associate with the upper classes. Which of the following promotional messages would be likely to appeal to these aspirational customers?

- Feel like a billionaire - Live a luxury lifestyle

​When you open an organic food store, you intend to follow a second mover strategy. Choose the benefit(s) of this approach.

- You can observe and avoid the mistakes of Whole Foods and other innovative retailers - You may be able to improve upon the innovations of first movers

​You are the director of a health and wellness center which was successfully launched by using only marketing tools and techniques developed during the social era. Now that the business is established, the owner wants you to experiment with other approaches. Which of the following would respond correctly to her request

- ​Creating a retail section in the center to sell workout clothes. - ​Offering discounts on dues and merchandise to long-term members.

The rule of three refers to the theory that in any industry, the three strongest competitors dominate between ______________ percent of the competitive market.​

70 and 90

Which of the following is an example of indirect competition?

A Sony home entertainment system competing with a Jacuzzi hot tub.

The term marketing mix describes:

A blend of the four strategic marketing elements to satisfy target markets

The airline industry in a particular country has only four dominant players. Large capital investments and government regulations often prevent new players from entering the market. Based on this information, the structure of the airline industry in this country is _____.

An oligopoly

Category managers are usually assisted by associates called​

Analysts

_____ laws are designed to prevent restraints on trade such as business monopolies.

Antitrust

Which of the following factors is most likely to have an influence on the choice between primary and secondary data?

Applicability

Atari, a consumer electronics and video games company, observed the innovations of Nintendo Co., the most powerful video game company at that time, and destroyed the market share of Nintendo eventually. This implies that Atari:

Applied a second-mover strategy.

​You've just started a new job as Chief Marketing Officer for a restaurant chain, and you've learned that the marketing planning process is already underway. In fact, the first two steps have been completed. What do you need to do now?

Assess organizational resources and opportunities.

Marketing planning establishes the:

Basis for any marketing strategy

The _____ component of attitude specifically involves tendencies to act in a certain manner.

Behavioral

Joining a local bowling league for social interaction is an attempt to meet _____ needs.

Belongingness

What is the term for information that originates in unprecedented volume and speed from the world around us?​

Big Data

Visuals, people, and slogans are all an example of _______________________.

Brand Associations

A popular clothing brand in Switzerland decided to launch a new line of home furniture under the same brand name. This strategy being used by the company to launch its new offerings is called _____.

Brand Expansion

The product-related segmentation of consumers based on the strength of their attachment and allegiance to their preferred products is called _____ segmentation.

Brand Loyalty

Brand Drivers are made up of:

Brand principle, personality and associations

Jacob is the facility manager for a senior living facility and is responsible for maintaining the facility and ensuring that it looks its best. He likes to repaint all surfaces in the facility every two years and has an exclusive contract with Sherwin Williams who supplies the paint and materials. The paint and materials that Jacob purchases from Sherwin Williams to be utilized in the senior living facility would be classified as _____ products.

Business

When a product is used in the production of another good that is destined for resale, the product is considered as a(n):

Business Product

​You are creating an ethics compliance program for your corporation. Which of the following issues is it unnecessary for you to address?

Cannibalization

​Kenmore is a well-known brand of appliances sold exclusively by Sears. Kenmore is best described as a(n) ____ brand

Captive

Daphne commonly purchases national brands that are sold exclusively by retail chains, and frequently buys these items from Target. What type of brand is Daphne purchasing?​

Captive Brand

Which of the following product purchases would most likely require a high-involvement decision?

Car

One of General Electric's business units produces a variety of light bulbs and generates healthy revenue. The revenues of this business unit are used to finance the growth of other business units with higher growth potentials. How would this unit be classified on the BCG market share/market growth matrix?

Cash Cow

Which of the following factors has helped increase the importance of packaging as a marketing tool?

Changes in consumer lifestyle and buying habits.

Which of the following products is typically a wife-dominant purchase?

Children's Clothing

The single group within society that is most vulnerable to reference group influence is:

Children, who base most of their buying decisions on outside influences.

_____ are determined by occupation, income, education, family background, and residence location.

Clas Rankings

Seventeen-year-old Mai Ly has moved to the United States from Vietnam with her parents because her father's job transferred him to a different branch of his company. They have decided to buy their groceries from a local supermarket that caters to Asian cuisine due to their _________ influences. Mai Ly has recently passed her driver's license exam and has said that she would like to have her own car so that she doesn't have to share one with her parents. Her parents have agreed to purchase a car for her as long as she pays for her own gas and insurance. This decision is an example of a ________ influence.​

Clothing; Family

Marketers must understand a target group's culture if they hope to construct an effective marketing mix for the target group. Culture is the accumulation of values, beliefs, preferences, and tastes that the target group possesses. Culture includes such tangible items as _____________. Culture also includes such intangible items as ________________.​

Clothing; Principles

Maya is in the purchase process for a new car and is considering a Hyundai Sonata and believes their Assurance or warranty program is the best available since it offers 10-years or 100,000 miles of coverage including a 5-year 24X7 roadside assistance plan. Maya's belief about Hyundai represents the _______ component of her attitude.

Cognitive

When a consumer begins to feel dissatisfied with a product or service recently purchased, the anxiety they feel is called:

Cognitive Dissonance

Which of the following best describes the activity of promotion?

Communicating between buyers and sellers

The _____ is an interactive process that occurs in the marketplace among marketers of directly competitive products, marketers of products that can be substituted for one another, and marketers competing for the consumer's purchasing power.

Competitive Environment

DK Motors' difficulty in competing with other car makers due to its lack of responsiveness to changing consumer preferences constitutes a:

Constraint on its Activity

In SWOT analysis, situations where organizations are unable to capitalize on opportunities because of internal limitations are referred to as:

Constraints

Kyle plans to buy new tires for a car that his family uses for camping trips. These tires are of the same type like those that are used on General Motors commercial trucks and can be purchased from Industrial Tire Company. The tires that Kyle will buy for his car can be classified as _____ products.

Consumer

​The engine in Marcel's lawn mower recently stopped working. Marcel has decided that it's a better financial decision to purchase a new lawn mower rather than to replace the engine. He has decided to purchase either a Craftsman or a John Deere model. Marcel feels that the Craftsman is a high-quality lawn mower. On the other hand, his father has used a John Deere mower for years and has recommended it to him. Marcel decides to purchase the Craftsman lawn mower. ​ __________ is the process that Marcel is undergoing in deciding which lawn mower to purchase, and his purchase is being affected by ___________.

Consumer Behavior; Personal Factors

Which of the following protects the consumer by exerting legal, moral, and economic pressures on business and government?

Consumerism

_____ is a social force within the marketing environment that aids and protects the consumer by exerting pressures on the business and government.

Consumerism

Which of the following is a trend usually observed during an economic depression?

Consumers focus on more basic, functional products that carry lower price tags.

Which of the following is the least-used method for collecting primary data?

Controlled Experiment

Which of the following is a type of nonprobability sample?

Convenience Sample

​Corea Inc., a pharmaceutical company, is involved in the research, development, manufacture, and marketing of prescription medicines. A new drug developed by Corea has been awarded patent rights by the U.S. Food and Drug Administration. The patent grants them exclusive rights to manufacture and market the drug for 3 years. Based on this information, which of the following statements will be true?​

Corea Inc. will have a temporary monopoly in the market for this drug.

Paul is a sales representative at Midwest Mazda and recently sold a CX9 to Summer and Brian for their growing family. Paul knows how important it is to reassure his clients that they've made the right decision and usually calls his customers within 2-3 days of purchase to ask what they think so far and remind them of all the great features. He provides lots of reassurance and wants his customers to know he cares about them and values their business. Which of the following is a possible reason why Paul might contact his customers and provide reassurance they made the right purchase decision?

Counter potential cognitive dissonance

​You are responsible for writing the statements of organizational goals to be included in the mission statement of your retail company. Choose the goal(s) that are not stated appropriately for this purpose.

Create an aura of prestige.

As defined in the text, consumer behavior is a function of the interaction of interpersonal influences and personal factors. Which of the following is an example of an interpersonal influence?

Culture

Mateo recently graduated from high school and it's always been assumed that he would go to college after graduation. His family believe education is important to success in life and know that Mateo will be able to achieve success with a combination of hard work, persistence, and knowledge. Mateo has been influenced by

Culture

Which of the following is the newest regulatory frontier for federal and state regulators in the United States?

Cyberspace

​You are excited about being promoted to general sales manager, a middle management job, but you feel a bit overwhelmed as you anticipate the demands of the new position. A colleague tries to help, pointing out that you will also be shedding some responsibilities. Which of the following will not be part of your new job?

Daily and Weekly Plans

Keith is searching through computerized information files of customers to detect patterns in product sales. Keith is engaged in the process of:

Data mining

_____ is the process of searching through computerized information files to detect patterns that guide decision making.

Data minning

Effective relationship marketing often involves:

Databases to track customer preferences

_____ can lead to a damaging downward spiral, causing a freefall in business profits, lower returns on most investments, and widespread job layoffs.

Deflation

Baier Oil Co. encourages consumers to reduce oil consumption by engaging in environmentally friendly commuting through its promotional campaigns. It also provides tips for people to employ green commuting. These measures employed by the company to reduce the demand for oil shows that they are engaging in:

Demarketing

The process of reducing consumer demand for a product to a level that a firm can reasonably supply is called __________.

Demarketing

_____ is the process of reducing consumer demand for a good or service to a level that a firm can supply.

Demarketing

Clairol offers a line of hair color called "Nice n Easy" which allows women to touch-up their hair and easily cover their gray hairs conveniently and easily at home. Based on research, Clairol knows that women aged 30 and above are most likely to need some type of color product to hide their gray hair and maintain a youthful appearance. What type of segmentation does Clairol use by targeting women over 30?

Demographic

The most common method of market segmentation is:

Demographic Segmentation

_____ defines consumer groups according to variables such as gender, age, income, occupation, education, sexual orientation, household size, and stage in the family lifecycle.

Demographic Segregation

The Telecommunications Act of 1996 was passed to:

Deregulate the telecommunication industry by removing barriers to competition.

Which of the following has ended total monopoly protection for most utilities like natural gas, electricity, water, and cable TV service?

Deregulation Movement

Whether conducted online or through the mail, what is the most important aspect of a marketing research survey?

Designing one that yields information marketers can use to make decisions.

While researching on the idea of opening his own health club, Tom learned that there are 11 million health club members in the United States, and 90 percent of them are between the ages of 18 and 49. They prefer to exercise with people of their own gender, and the majority of them are urban dwellers. During the process of market segmentation, this information is most likely to be used by Tom for:

Developing a market segment profile.

A _____ marketing strategy focuses on producing several products and pricing, promoting, and distributing them with several marketing mixes designed to satisfy smaller segments

Differentiated

Technological changes and the increased use of wi-fi has enabled companies such as Netflix to create a large consumer following and changed consumer's viewing habits. Netflix has emerged as an entertainment company offering original content that's not available on cable or satellite networks. Netflix is a _____ competitor to cable and satellite companies.

Direct

Jack is a research specialist who has spent six months conducting a detailed study of customer attitudes and expectations. In writing the final report, Jack should remember to:

Direct his report toward the management and not other researchers

Brock recently graduated from college and began his job as a media analyst earning $50,000 per year. He wants to start saving for retirement and use a weekly budget to keep him from spending too much money. He determines that his _______ income is $120 per week for entertainment, dining out, clothes, and other non-essential items.

Discretionary

The amount of money available with people after buying necessities such as food, clothing, and housing is referred to as _____.

Discretionary Income

_____ is the amount of money people have to spend after buying necessities such as food, clothing, and housing.

Discretionary Income

Decisions involving transportation, warehousing, inventory control, and order processing relate to the _____ strategy component.

Distribution

Maxwell has been promoted to an upper-level management position at QVC. He will be involved in matters relating to transportation media, order processing, and development of marketing channels. Maxwell is involved in developing _____ strategies for the marketing team.

Distribution

After working as an analyst in the marketing department of a large consumer products firm, you have been promoted to marketing team lead for the company's leisure products line. In your new role, you will be responsible for the following major functional areas related to this product line: ​Inventory control Order processing Warehousing Logistics Within the context of the marketing mix, your responsibilities are primarily focused on

Distribution Strategy

The concept of _________________ refers to the ways that marketers make sure their customers get the right amount of products at the right time and place.​

Distribution Strategy

William Cutlery Inc. sells its products at its stores and via door-to-door sales. Selling, order taking, delivery, and limited customer service are all conducted by the drivers. Which two marketing functions overlap as a result of the drivers' required responsibilities?

Distributions and Exchange

TaB is a cola product marketed by Coca Cola company and has a loyal following due to its low levels of sodium and no caffeine. However, the TaB product has low market share and low growth rate. TaB is a ______ according the BCG matrix.

Dog

YOU Inc., a radio cassette manufacturer, sold its business due to poor market shares. According to the BCG Matrix, the firm sold its business because the business had become a _____ as seen in its poor prospects and performance.

Dog

In terms of the BCG Matrix, which of the following SBUs are characterized by earning only low market shares in low-growth markets?

Dogs

Companies often reorganize their operations which might include lay-offs, divestiture of business units, or other decisions linked to their ability to maximize profitability. Which dimension of social responsibility is related to a firm's desire to maximize profits?

Economic

The factors that influence consumer buying power and marketing strategies are part of the _____ of a market.

Economic Environment

Which of the following components of the marketing environment consists of factors that influence consumer buying power and marketing strategies?

Economic Environment

Which of the following is a core value emphasized by the American culture?

Efficiency

Neuromarketing is defined as:

Eliciting emotions to motivate people toward a purchase.

Marketers applying a positioning strategy want to:

Emphasize a product's unique advantages and differentiate it from competitors' options.

Attainment of organizational objectives by predicting and influencing the competitive, political-legal, economic, technological and socio-cultural environments is called _____.

Environmental Management

Monitoring local newspapers and television news shows for general information relating to a firm's business would be an example of:

Environmental Scanning

The process of collecting information about the external marketing environment to identify and interpret potential trends is called _____.

Environmental Scanning

When Kevin analyzes recent data from the U.S. Census Bureau to uncover new markets for his firm's product, he is engaging in:

Environmental Scanning

_____ is the process of collecting information about the external marketing environment to identify and interpret potential trends.

Environmental Scanning

​Marketers use _______________ to collect information about the external marketing environment to identify and interpret potential trends.

Environmental Scanning

Because of competitive pressures, some firms have used packaging and labelling practices that are questionable, misleading, deceptive and unethical. This is an example of issues related to __________.

Ethics in product strategy.

​Because of competitive pressures, some firms have used packaging and labelling practices that are questionable, misleading, deceptive and unethical. This is an example of issues related to __________.

Ethics in product strategy.

In interpretative research, the researcher first spends an extensive amount of time studying the culture, and for that reason, the studies often are called _____ studies.

Ethnographic

Which of the following is most likely to be a logical starting point in identifying the marketing problem?

Evaluating the firm's target market and marketing mix elements

Product features that consumers consider while choosing among alternatives are known as the:

Evaluative Criteria

Tabitha is interested in purchasing new head phones and has set a budget of up to $350. She's narrowed her choice to Bose, Beats by Dr. Dre and Exeo Psyko. These three brands are known as her _____ set.:

Evoked

The number of alternatives a consumer actually considers in making a purchase decision is referred to as the _____.

Evoked State

​You are the campaign manager for a candidate running for mayor of Hartford, Connecticut. You are running a series of focus group sessions with Hartford residents to get a better idea of their needs and wants. Your focus group sessions are an example of which of the following types of research?

Exploratory Research

Manufacturers of vitamins and nutrition supplements have greater freedom in the manufacture and marketing of their products since many of their products are not regulated by the _______ in the same way that drugs are since double-blind efficacy studies are not required.

FDA

Financing is one of the _____ functions of marketing.

Facilitating

A customer of All World Bank receives telemarketing calls and emails from the bank's business partners, Specialty Insurance and Global Investments. Since the customer has signed into the Do Not Call Registry, these companies are in violation of the federal regulation.

False

A customer-driven organization begins its marketing strategy with a detailed description of its target market.

False

A global brand is generally defined as one that sells at least 60 percent outside its home country.​

False

A large pharmaceutical company invents a very small device that can be implanted in people with diabetes to provide time-released amounts of insulin. A patent for this invention will set up a temporary oligopoly for the company.

False

A major constraint on consumer spending is deflation, which devalues money by reducing the products it can buy through persistent price increases.

False

A marketing information system (MIS) develops available data into information useful for decision making.

False

A marketing information system allows marketers to store data, classify and analyze that data, and retrieve it easily when needed.

False

A marketing research organization that regularly provides a standardized set of data to all customers is called a full-service research supplier.

False

A pharmaceutical company that owns a patent for a new drug obtains exclusive rights to produce and market that drug for an entire lifetime.

False

A service user of a not-for-profit organization has more control over the organization's destiny than customers of a profit-seeking firm.

False

A simple random sample is a nonprobability sample selected from among readily available respondents.

False

A statement such as "to hit the 300 employee mark by the end of the year" is typically a part of a mission statement.

False

A stay-at-home mother, a high school senior, and a retired government employee are considered unemployed if they do not have a job and don't want one.

False

A strategic window is defined as a collection of situations where organizations are unable to capitalize on opportunities because of internal limitations.

False

A stratified sample is a type of nonprobability samp

False

A stratified sample is a type of nonprobability sample.

False

According to Engel's laws, the percentage of income spent on food increases with increased income.

False

According to the BCG matrix, cash cow businesses produce strong cash flows and invest heavily in the unit's own promotions and production capacity.

False

All Hispanics speak the single universal form of Spanish.

False

Antrix Corporation is a marketing research firm that specializes in data collection in shopping malls. This information indicates that Antrix Corporation is a full-service research supplier.

False

As compared to undifferentiated marketing, applying a micromarketing strategy allows companies to reach larger markets.

False

Aston decides to buy all electronic goods from a particular retailer because of his satisfactory past experiences with the retailer. Aston is exhibiting the affective component of attitude.

False

Automobile manufacturers and food processing companies segment a particular geographic region based on the same factors.

False

Brand recognition is the ultimate stage in brand loyalty that leads consumers to refuse alternatives and search extensively for the desired merchandise.

False

Census data is an example of primary data.

False

Changes in an environment are most often the result of sudden crises.

False

Closure refers to a person's tendency to be influenced by messages that close the gap between a product's real and perceived advantages.

False

Creative applications of technology can benefit society, but rarely give firms a definite competitive edge since other firms can simply copy the technology.

False

Data suggests that business owners who adopt the first mover strategy will always be long-term market winners.

False

Deflation is necessarily better for the economy than inflation as inflation devalues money and reduces the purchasing power of consumers.

False

Demarketing is a reaction to a surplus of production materials that results in product supply exceeding demand.

False

Despite its many advantages, technology can seldom address social concerns.

False

Discretionary income is the amount of money people have to spend on buying necessities such as food, clothing, and housing.

False

Each strategic business unit (SBU) in a firm has to prepare its plans in collaboration with other units in the organization.

False

Environmental management rarely works because marketers cannot hope to influence the external environment, they can only respond to changes in it.

False

Firms can receive trademark protection only for the brand name and brand mark and not for the product features or packaging elements.

False

Firms that narrowly define their organizational goals can avoid the problem of marketing myopia.

False

Fizzy Cola Company created a sample containing 25 of their regular cola drinkers, 25 of their diet cola drinkers, and 25 of their diet caffeine-free drinkers. They created the sample by stopping people on the street and continuing until they had spoken to enough people to meet the requirement. Such a sample is a nonprobability cluster sample.

False

Focus groups elicit information from the customers through a question-and-answer format.

False

Groups do not intentionally create formal roles, nor do they ever have expectations that roles and statuses will develop within their membership.

False

Human behavior is solely a function of pressures exerted by external environmental forces on the individual.

False

Josh usually buys one brand of orange juice but, occasionally, will buy a competitive brand if it's on sale. Josh is exhibiting brand insistence.

False

Karen prefers to buy Chemtec's cleaning products over other brands if they are easily available in the market. Karen is in the brand insistence stage of brand loyalty.

False

Long deflationary periods can cause a freefall in business profits, lower returns on most investments, and widespread job layoffs.

False

Managers of firms have traditionally focused on improving their relationship with the government and the general public as part of their social responsibility.

False

Marketing of sporting, cultural, and recreational activities to selected target markets is known as cause marketing.

False

Marketing planning establishes the basis for a firm's overall strategic plan.

False

Marketing strategies that prove successful in one country are invariably applied successfully in international markets as well.

False

Marketing theory would define Starbucks, Caribou Coffee, and Dunkin' Donuts as indirect competitors because some coffee drinkers are particular about the brands they purchase.

False

Maslow's hierarchy of needs begins with self-actualization needs and progresses to physiological needs at the highest level.

False

Matching an external opportunity with an internal weakness produces a situation known as leverage.

False

Not-for-profit organizations are not impacted by the rate of discretionary spending.

False

Not-for-profit organizations face complex decision-making issues about the correct markets to target as they often must market to multiple publics.

False

Organizations within the same industry usually have the same mission.

False

Paying universities for the use of their logo, team name, and mascot in advertising products and services to their students is considered ethical.

False

Product managers have profit responsibility for their product group and help the retailer's category buyer maximize sales for the whole category, not just the particular manufacturer's product.

False

Psychographic segmentation involves segmenting the consumers on the basis of the benefits they seek from a product.

False

Relationship-building goals and strategies are seldom included in the plans of business firms.

False

Repurchasing the same brand of detergent during each trip to the grocery store is an example of limited problem-solving behavior by a consumer.

False

Researchers usually spend less time and money in gathering primary data compared to secondary data.

False

Since rubber purchased by Goodyear is utilized to manufacture tires that are ultimately used by consumers for their automobiles, rubber is a consumer product for Goodyear.

False

Six firms - GM, Ford, Chrysler, Toyota, Honda, and Nissan - share 90 percent of all U.S. auto sales. Hence the U.S. auto market can be regarded as a monopoly.

False

Social class is determined by the sole criterion of income.

False

Strategic business units (SBUs) of a diversified firm have common managers, resources, objectives, and competitors.

False

Strategic business units are key business units within small companies that offer only a few items to its customers.

False

Strategic planning has a minimal impact on a firm's destiny because it provides only short-term direction to the decision makers.

False

Strategies once implemented should not be changed even if the actual performance does not meet the desired results.

False

Subliminal advertising has proven to be successful in inducing the desired purchasing behavior in numerous experiments.

False

Supervisory managers tend to focus exclusively on strategic planning.

False

Tactical plans typically determine an organization's primary strategic objectives and exclude short-term actions from their purview.

False

The American population is becoming increasingly homogenous as the ethnic and racial minority groups are adopting the U.S. culture through acculturation.

False

The Federal Food and Drug Act was designed to maintain a competitive environment in the food and drug industries.

False

The Federal Trade Commission was established to facilitate trade by removing tariffs and other trade barriers among Canada, Mexico, and the United States.

False

The Internet has impacted business for new firms by increasing the barriers to market entry.

False

The advertising director, marketing research manager, and other middle-level managers have the primary responsibility of devising and implementing the strategic plan of the company.

False

The baby boomer generation is most adept at learning and using rapidly changing communications technology.

False

The basic core values of a culture are highly dynamic and flexible.

False

The cognitive component of attitude essentially deals with feelings or emotional reactions.

False

The extent of consumer spending is directly related to the rate of unemployment.

False

The federal government has imposed strict regulations on food advertising for children based on their nutritional standards.

False

The financial bottom line refers to the limitations laid on the budgets of a firm.

False

The firm that provides regional expertise in a strategic alliance does not share the risks associated with the business.

False

The first phase of federal regulation of business was aimed at protecting competitors and included the Robinson-Patman Act, passed in the 1930s.

False

The first step in the marketing research process is to conduct exploratory research, and then use the information to define the problem.

False

The functions of marketing can be grouped into three major categories: exchange functions, physical distribution functions, and financing functions.

False

The governmental regulations that affect marketing practices are mainly for advertising and distribution, and do not place any restrictions and prohibitions on the design and packaging of products.

False

The gross domestic product (GDP) of a nation does not take into consideration the goods and services that are exported to foreign markets.

False

The idea of first movers being completely replaced by second movers and the resulting disappearance of first movers from the marketplace is a myth.

False

The interviews conducted during exploratory research with informed people outside the firm are termed as formal investigations.

False

The local government in Colorado has made it mandatory for firms to publish information on labels, regarding the environmental impact of their products. The government is trying to protect the consumers' right to be safe.

False

The majority of the Hispanic population is first-generation living in the United States.

False

The most direct form of competition occurs among marketers of dissimilar products.

False

The number of suppliers available to a manufacturer or retailer affects the bargaining power of buyers.

False

The only inputs that affect a consumer's purchasing decisions are those provided by his or her psychological makeup.

False

The original objective of product packaging was to increase consumer awareness of the product.

False

The original owner of a brand name can claim exclusive rights to the name even when the brand name becomes a descriptive generic name for a class of products.

False

The planning process begins at the corporate level with the first step being the development of strategic objectives.

False

The position of an SBU along the horizontal axis indicates the annual growth rate of the market.

False

The revised VALS system categorizes consumers by their occupations.

False

The rule of three states that the third major company in an industry has little chance of survival.

False

The self-image is the image to which an individual aspires and hence, it serves as a personal set of objectives.

False

The situation in which a consumer makes a purchase by rapidly choosing a preferred brand is referred to as limited problem solving.

False

The success or failure of a product is independent of the competitive environment.

False

Time-based competition is a strategy of developing and distributing goods and services after a competitor to observe the customers' response to a particular product.

False

When H&C Research Corporation wanted to test the popularity of a new flavor of ice cream, they selected a number of U.S. cities as test sites, and then randomly selected supermarkets within those cities as trial vendors. This is an example of quota sampling.

False

When making purchasing decisions, consumers will most likely choose products that move them closer to their real self-images.

False

The interpersonal influences on consumer behavior include a person's _____.

Family

Computer technology has had little impact on the marketing research process.

Fasle

The antitrust laws in the United States were designed to protect the interests of organizations having monopoly positions.

Fasle

If a business refuses to comply with a request by the _____, the agency can issue a cease-and-desist order, which gives a final demand to stop an illegal practice.

Federal Trade Commission

The regulatory agency which can require advertisers to provide additional information about products in their advertisements is the _____.

Federal Trade Commission (FTC)

Which of the following methods used for conducting primary research gathers information by encouraging the participants to engage in a discussion on a predetermined topic?

Focus group

A _____ helps the marketers in conducting marketing research by performing all the steps in the marketing research process.

Full-Service Research Supplier

​Marketers are keenly aware that good marketing alone is not enough to win the hearts and minds of consumers anymore. Now, marketers must market in a socially responsible manner or risk alienating consumers in ways that can be irreparable. Which one of the following statements is trueregarding social respons

Government legislation can mandate socially responsible actions.

Jen's Dairy markets milk and other milk products that are purely organic and grown using sustainable farming methods. They also have a program under which they recycle used cans of their products. These marketing strategies employed by Jen's Dairy show that they are involved in _____.

Green Marketing

Toyota's promotion of cars using hybrid technology is an example of _____.

Green Marketing

_____ is the sum of all goods and services produced by a nation in a year.

Gross Domestic Product

The purchase of which of the following products will follow a syncratic pattern?

Health Insurance

Ryder and Reagan have been dating for several years and Ryder has started browsing for engagement/wedding rings. He has heard that it's typical to spend the equivalent of 5 months of salary on a ring which would equate to approximately $15,000. He is excited about making a life commitment and is willing to invest in the relationship by purchasing the ring. What type of purchase decision does the engagement/wedding ring represent for Ryder?

High-Involvmenet

It has been seen that periods of major innovations often lead to:

Higher standards of living.

Because of a variety of cultural, geographic, regulatory, and social issues, international marketing can pose unique challenges to the marketer. Many of these challenges can be mitigated by an effective internationally-oriented marketing research effort. Companies can effectively conduct international market research by:

Hiring an international research firm to conduct the research.

A _____ role is typically seen in purchase of products such as garden supplies and electronic equipments.

Husband- Dominant

Tiffany is a marketing research consultant and is working with a local community college to determine the primary reasons students select the college. Based on exploratory research, Tiffany believes the main reasons are cost, convenience and value. She plans to conduct additional research to determine whether or not this ______ can be supported.​

Hypothesis

While making purchasing decisions, consumers are likely to buy products they believe will move them closer to their _____ self.

Ideal

Marketers can influence the outcome of the evaluation stage of the consumer purchase decision process by:

Identifying which evaluative criteria are important to the individual, and pointing out which brand best meets those criteria.

Which of the following would qualify as an example of a firm's weakness?

Inadequate financing capabilities

​You own a high-end restaurant competing for the business of well-heeled diners. Now you're worried, because a gourmet takeout store just opened across the street. The new store will mean increased _____ competition.

Indirect

Rising prices caused by excess demand and increases in the costs of raw materials, component parts, human resources, or other factors of production is referred to as _____.

Inflation

You overhear your parents having a conversation about the family's grocery list and which of them is going to do the shopping this coming weekend. Your mother typically does the grocery shopping and has a comprehensive process, which entails researching supermarkets that have the best sales, clipping coupons, and identifying which items she wants from the circulars that are mailed weekly to the house. She prefers to do the shopping herself but has to go out of town, leaving your dad with this responsibility. Your dad generally just buys whatever he thinks you and your siblings will like and prefers to be in and out of the grocery store. What can be said about your parents' purchase decision styles?​

Involvement in purchase decisions may vary from one person to the next.

Which of the following statements is true regarding online surveys?

It allows participants to respond at their leisure

Which of the following is a limitation of secondary data not found in primary data?

It may not be completely relevant to the specific needs of the marketers.

You are the project manager for this year's planning process for your firm. Unlike in the past, you intend to get input from a variety of stakeholders during the course of the planning process. You are doing this because:​

It will ensure that any ideas are considered and these stakeholders will become advocates for the final plan.

​As an observant marketer, you read newspapers and magazines regularly to keep up with trends in American cultural values. But you realize that certain core values do not change over time. When considering various slogans to promote a new line of kitchen appliances, you identify one that fails to tap into a core value. Which slogan is it?

Keeps Mom in the Kitchen

Which of the following can be categorized under the cognitive component of an attitude?

Knowledge of the products

A "_____" carries an item's brand name or symbol, the name and address of the manufacturer or distributor, information about the product's composition and size, and recommended uses.

Label

In addition to the four forces of the Five Forces Model, which of the following influences rivalry among competitors?

Lack of differentiation between products

Alliances are considered essential in countries where:

Laws require foreign firms doing business there to work with local companies

In a marketing context, the immediate or expected change in consumer behavior that results from experience is called a _____.

Learning

Matching an internal strength with an external opportunity produces a situation known as:

Leverage

Cynthia and William enter Franklin's Electronics to buy a television set. They had previously planned to replace their 10-year-old color set with a new model of the same brand but are surprised by the array of brands the store offers, each having a special feature. They decide to take their time and look at every type of TV Franklin's has to offer. Cynthia and William are exhibiting _____ response behavior.

Limited

​When a bride purchases a wedding dress, her problem-solving process is likely to differ from the process she used when buying dresses to wear to work. Once in the wedding dress market, most brides will shift from ____ problem solving to ____ problem solving.

Limited, Extended

Entertainment Research Group specializes in rating movie theaters using input from moviegoers. Entertainment Research Group is an example of a:

Limited-Service Research Supplier

Strategic planning has a critical impact on a firm's destiny because it provides _____ to its decision makers.

Long-Term Direction

Recently, a top economist to the Federal Reserve bank predicted that market conditions would be favorable with low levels of inflation and low unemployment rates. Which of the following might be a response by marketers to this economic forecast?

Lower Prices

Which of the following products is aimed at satisfying the esteem needs of people?

Luxury Watch

When a massive fuel hike affected the expenses of users of Cadmia significantly, Flare Inc. introduced automobiles that run on solar energy. The introduction of such automobiles indicates that Flare Inc.:

Made the best of a strategic window

In not-for-profit organizations, _____ may interfere with the organization's marketing program.

Major Contributions

​The social-cultural environment a firm operates in is constantly changing, and having a significant impact on marketing strategies. The change is so rapid and immense that some firms have created a new position in the organization to handle this change. Which title best describes the new position described in the scenario?

Manager of Public Policy Research

Hormel Foods owns the brand, "Wholly Guacamole" but has chosen NOT to display the Hormel name or logo on the packaging. Which term is most appropriate for the "Wholly Guacamole" brand?​

Manufacturer's Brand

The performance framework developed by the Boston Consulting Group (BCG) plots:

Market shares against market growth potential.

Which of the following serves as a source of internal data for a firm involved in marketing research?

Marketing Cost Analysis

Marketers' standards of conduct and moral values is termed as _____.

Marketing Ethics

The marketers' standards of conduct and moral values are called _____.

Marketing Ethics

A _____ is a planned, computer-based system designed to provide decision makers with a continuous flow of information relevant to their areas of responsibility.​

Marketing Information System

A good marketing plan revolves around an efficient, flexible, and adaptable ____________.​

Marketing Strategy

H&M stores have grown quickly and established a high share of the market by targeting women who like to wear the latest fashion trends and are price conscious. H&M determines their mix of product, pricing, promotion strategy, and retail store location based upon extensive research regarding consumer preferences and style trends. The identification of a target market and blending of marketing mix elements is known as the ________.

Marketing Strategy

The _____ is the organizational program for selecting a target market and satisfying customers in that market through the marketing mix.

Marketing Strategy

Which of the following statements regarding the marketing era is true?

Marketing and selling would no longer be considered synonymous terms.

Undifferentiated marketing is also called _____.

Mass Marketing

Majority of the Hispanic population in the United States originate from _____.

Mexico

Employees of Popsie Inc., a small grocery store chain, are working on its tactical plans. The personnel most involved in this level of its planning process would be its:

Middle management, such as the merchandising and advertising managers

The basic objectives or goals of an organization are derived from its:

Mission Statement

_____ is an imbalance between a consumer's actual and desired states.

Need

A company that chooses to focus its efforts on satisfying only one market segment for profit is using a(n) _____ strategy.

Niche Marketing

When groups establish values and behaviors they deem appropriate for their members, those values and behaviors are called group _____.

Norms

The most obvious distinction between not-for-profit and for-profit organizations is:

Not-for-profit organizations have a different view of what constitutes the bottom line.

Which of the following holds true when not-for-profit organizations are compared with for-profit organizations?​

Not-for-profit organizations often possess some degree of monopoly power in a given geographical area.

Erica is a marketing researcher involved in improving retail store layouts. Erica would like to know the order in which various types of products are purchased by customers. Erica also wants to find out what type of assistance is required by the customers while purchasing products. The best method for Erica to collect this data would be by:

Observation

​A researcher came up with an unusual way to study the market penetration of Magazine A vs Magazine B in a particular city. At the city's garbage processing center, she obtained a week's sample of discarded magazines and compared the numbers of A to B. This is a(n) _____ research method, used to collect _____ data.

Observation, Primary

Which of the following statements is indicative of a second mover strategy?

Observing closely the innovations of first movers and then improving on them

Autonomic role in decision making differs from syncratic role as autonomic role:

Occurs when the partners independently make equal number of purchase decisions

In times of prosperity, marketers respond to consumer buying behavior by:

Offering new products, increasing their promotional efforts, and expanding distribution.

Marketers can attempt to shape the outcome of the post purchase evaluation by:

Offering personal assistance with any problem experienced with the product.

A market condition where relatively few producers compete because of barriers like high start-up costs that restrict entry is called a(n) _____.

Oligopoly

A(n) _____ is a structure that refers to a limited number of sellers in an industry in which high start-up costs form barriers to keep out new competitors while ensuring that corporations remain innovative.

Oligopoly

An industry with only a few large competing firms is called a(n):

Oligopoly

In the United States, four major music companies receive 80 percent of recording revenues. Such a market structure is termed as a(n) _____.

Oligopoly

Jamie is the regional sales manager for Sherwin Williams paint company and oversees a team of 40 outside sales representatives. She meets with her sales managers on a monthly basis to review budgets and track the team's progress in meeting its sales quotas in order to reach company objectives. Jamie requires that each sales manager collaborate with their individual sales representatives to develop weekly call schedules and account plans. What type of planning is Jamie and her sales managers engaged in?

Operational Planning

In the context of cybercrime, luring consumers to provide personal information is called _____.

Phishing

Bristol-Myers Squibb, a large pharmaceutical company, has developed a campaign featuring Lance Armstrong promoting their development of cancer drugs. The campaign has a slogan, "Together We Can Prevail." This marketing strategy is being used by the company to satisfy ____ needs in the Maslow's hierarchy of needs.

Physiological

Banks have recently begun to install ATMs in supermarkets to address customers' wants for instant cash when they go shopping. What type of utility are banks creating for customers?

Place

The Today Show partnered with the US National Parks in 2016 to celebrate 100 years of national parks. Various Today Show regulars such as Matt Lauer and Al Roker were featured visiting the parks. This campaign is an example of _____ marketing, a type of nontraditional marketing.

Place

Marketers intentionally offering products with limited durability are engaging in _____.

Planned Obsolescence

The process of anticipating future events and conditions and determining the best way to achieve organizational objectives is known as:

Planning

Business strategist Michael E. Porter identified five competitive forces that influence _____ in a model called Porter's Five Forces.

Planning Strategies

A bill passed by the government stipulates the mandatory use of revised engine mapping and particulate filters in the automobile industry. Which of the following factors of the marketing environment has affected the automobile industry in this scenario?

Political-Legal

Heather is the director of human resources at a medium-sized firm and has spent significant time in workshops and working with her insurance suppliers to understand the Affordable Care Act and how it might impact the benefits that the company provides its employees. The Affordable Care Act is an example of a(n) _______ factor that can impact organizations.

Political-Legal

The _____ component of the marketing environment consists of laws that require firms to operate under competitive conditions and to protect consumer rights.

Political-Legal

The component of the marketing environment that consists of laws that require firms to protect consumer rights is referred to as the _____.

Political-Legal Environment

In a(n) _____, firms evaluate their products and divisions to determine the strongest and weakest.

Portfolio Analysis

​Cadillac has strategically sought to become known as a prestige brand among 30 to 50 year olds and routinely uses television advertising to showcase the high quality and luxury attributes of the new models. It seeks to use _______ to separate the brand from other US brands and be perceived more similarly to European models such as Audi and BMW.

Positioning

Which of the following is utilized to help managers position products by graphically illustrating consumers' perceptions of competing products within an industry?​

Positioning Map

At which stage of the consumer decision-making process is cognitive dissonance most likely to occur?

Postpurchase evaluation

Retailers such as Bed Bath and Beyond often use the ______ element of the marketing mix to influence consumers to purchase a greater number of products by offering a discount if a customer purchases multiple units such as 3 for $10.

Price

The tagline used by Blue Jet cleaners, "Pay for Performance," is an example of a positioning strategy that is based on _____.

Price/Quality

Which of the following is a common complaint among consumers regarding the widespread use of universal product codes (UPC) in retail stores?

Prices are not displayed on product packaging.

The marketing mix decisions which are closely regulated and subject to public scrutiny usually relate to a company's _____ strategy.

Pricing

The information collected for the first time specifically for a marketing research study is called _____ data.

Primary

Newsletters, catalogs, and invitations to company-sponsored events are most closely associated with the marketing mix activity of:

Product Promotion

Jenny has been appointed the marketing manager for Spark Cleaning Products. Her job focuses on decisions involving customer service, package design, brand names, and warranties. In this scenario, Jenny is closely associated with the _____ dimension of the marketing planning.

Product Strategy

What is the term that refers to the use of marketing intelligence data to model scenarios and create forecasts?

Productive analysis

Indirect competition occurs among marketers of:

Products that can be easily substituted

The Federal Trade Commission Act is a law that:

Prohibits unfair methods of competition.

A local furniture store was recently penalized for continuously using a "going out of business" message in its marketing communications to influence shoppers to visit the store and assume that prices would be very low. This ethical issue is linked to the _____ variable of the marketing mix.

Promotion

In Australia, consumer spending in the past few months has seen an upward trend, and buyers are willing to spend more on premium brands. From this pattern, we can say that Australia is in the _____ stage of the business cycle.

Prosperity

The original objective of packaging was to:

Protect products from physical damage.

The history of U.S. government regulation can be divided into four phases: the antimonopoly period, _____, consumer protection, and industry deregulation.

Protecting Competitors

The Robinson-Patman Act was passed to:

Provide legal protection to individual merchants against competition from larger chain stores.

In the recovery period, which type of firms have the best possible chance to create loyal customers by providing exceptional service?

Providers of superior services at lower prices.

Which of the following segmentation approaches is most likely to help marketers quantify aspects of consumers' personalities and lifestyles to create goods and services for a target market?

Psychographic Segmentation

Reference groups have a greater impact on the purchasing decision when the:

Purchase is unique and conspicuous.

Having a clear and compelling shared purpose is important to a brand because:

Purpose is a key to motivating employees

A company can modify a strategy when its actual performance is not in line with expected results by:

Putting the marketing strategy into action and monitoring performance

During which phase in the business cycle do marketers consider lowering prices and increasing promotions that include special offers to stimulate demand?

Recession

It is believed that marketers need to reevaluate their strategies and concentrate on their most promising products during the _____ stage of the business cycle.

Recession

The Robinson family recently bought a car as they were offered a no-interest financing option. The family's annual vacation was also booked through a discount travel firm. The family has purchasing power, but they prefer to spend their money cautiously like most other families in the country. The above stated instances indicate which stage of the business cycle?

Recovery

Which of the following stages in the business cycle forces businesses to hold down costs, trim payrolls, and cut down travel costs in order to earn profits and cope with uncertain consumer demand?

Recovery

Promotional schemes like frequent shopper programs provide incentives to loyal buyers. Considering Porter's Five Forces model, such offers will:

Reduce the treat of new entrants.

In marketing, the term product:

Refers to a broad concept encompassing the satisfaction of consumer needs.

​Several leading brands of breakfast cereal have changed the basis on which they try to set their products apart from competition, shifting from taste to healthful ingredients. It would be accurate to describe this change as:

Repositioning

Pharmaceutical companies often get patents granting them the exclusive right to produce and market drug formulations they have developed. These patents are:

Rewards for the millions that firms have invested in the research and development process.

Artisanal Brands, Inc. markets and distributes a line of specialty, artisanal, and farmstead cheese products in the United States. The company gives bulk discounts to their wholesalers. The result is that smaller stores are getting the products at a higher rate as compared to supermarkets and large shopping chains. These stores will be protected under the _____.

Robinson-Patman Act

Which of the following consumer problem-solving behaviors requires the least effort?

Routinizing Response Behavior

Be Wise is an insurance firm that helps people save money for retirement and health purposes. It markets its health and life insurance products with a tag line "save for future." Be Wise is trying to address which of the following needs in the Maslow's hierarchy of needs?

Safety Needs

Helene made sure that her company car was equipped with OnStar in case she ever has car trouble or gets lost while traveling between appointments. Which level of Maslow's hierarchy of needs is Helene addressing?

Safety Needs

Solaris works for a beverage company in the western part of the United States. Solaris's superiors ask him to chart the competitive environment as well as market trends on a quarterly basis, and to forecast the company's sales. Because he produces this information once every few months, Solaris generally considers only short-term future sales. Starting with the employees on the sales floor at the company's distribution centers, Solaris and his team gather sales projections and then work their way upward to middle and top-level management, asking the respondents to estimate sales. Solaris is then able to determine the sales forecast on the basis of this aggregate information.​ Which of the following forecasting techniques is Solaris implementing?​

Sales force composite

Sydney is a marketing researcher for an advertising agency and is gathering _______ data from the Census Bureau to determine the characteristics of people living in a 3-county area within the state of Texas.​

Secondary

​You work for a printing company and have been asked to conduct research on customer reading preferences. You want to answer the following questions: 1) do readers prefer to read electronic books? 2) do they prefer to read paper-based books? or 3) do they not have a preference? You decide that to start off the process, you are going to peruse a series of secondary sources, including published articles, magazine articles, and documents you have purchased from a syndicated service. ​ Based on what you know about collecting data, you know that there are several benefits of using secondary data. You are not as clear, however, about the disadvantages. Which of the following is a drawback of using secondary data?

Secondary data may have been collected for unrelated purpose and may be irrelevant to your needs.

A consumer goods company segments its markets on the basis of purchase patterns of their customers. The company groups its consumers who regularly buy their product into heavy, moderate, and light users, and nonusers. This segmentation approach is an example of _____.

Segmentation by usage rates

A television commercial shows several enthusiastic teens smiling widely and speaking in turn directly to the camera. Using the featured skincare product has changed their lives! It costs more than what you find in the corner drugstore, but it is worth every penny! After weeks of trying one product after another, embarrassed by acne breakouts and shy about socializing with others, now they have clear faces with a healthy-looking glow! What form of product-related segmentation has driven the development of this marketing campaign?​

Segmenting by benefits sought

According to Maslow, an individual's desire to realize his full potential and find fulfillment by expressing his unique talents and capabilities can be regarded as his _____ needs.

Self-Actualization

Martin, a marketing manager, contributes toward community development and volunteers for various civic awareness programs. These activities help Martin in satisfying his _____ needs.

Self-Actualization

The revised VALS segmentation system categorizes consumers based on _____.

Self-Motivation

Marketers in many industries use predictive analytics to:

Set strategies

Ayden is shopping at the local Costco on a Saturday afternoon and loves trying all the product samples. He's learned that he can usually try 5 to 7 different products while he's shopping in the store and the samples almost always taste great! He usually purchases the sampled item because he likes the taste and knows that he'll use it once he gets the item home. What type of marketing technique is utilized by offering product samples?

Shaping

The process of applying a series of rewards and reinforcements to permit more complex consumer behavior to evolve is known as ____.

Shaping

Which of the following statements reflects Carla's interpersonal determinants concerning her purchase of an Apple computer?

She makes purchases to satisfy the expectations for her family members who insist on buying Apple products.

A firm is most likely to opt for a family brand to market its products when the products are:

Similar in quality and are closely related to one another

Tabitha is a marketing consultant working with an advertising agency who has recently launched a radio and social media campaign for a new beverage product. The advertising agency is interested in determining the percent of people in the target market who have been exposed to the advertising message and can "recall" the message. Tabitha recommends that a phone survey be utilized to contact individuals with mobile phones. Tabitha works with the local mobile phone companies to determine the relevant prefixes or 3-digit numbers for individuals in the area and then instructs the research call center to randomly identify the remaining 4 numbers to ensure that all members of the population who have a mobile phone have an equal opportunity of being selected to participate in the study. Tabitha is using the ______ sample method.​

Simple Random

​The technological environment that a company operates in represents all the discoveries made via science, inventions and innovation that impacts the firm's marketing strategy. Which one of the following statements is false regarding the impact of technology on the firm's marketing endeavors?

Since it is equally accessible by all competitors, it offers limited competitive advantages.

A young single person setting up an apartment for the first time is most likely to be a good prospect for:

Small home appliances such as coffee makers and toasters.

In marketing, _____ involves accepting an obligation to give equal weight to profits, consumer satisfaction, and social well-being in evaluating a firm's performance.

Social Responsibility

When a firm contributes to environment protection and human welfare programs, which type of behavior is it exhibiting?

Social Responsibility

_____ consists of marketing philosophies, policies, procedures, and actions that have the enhancement of society's welfare as a primary objective.

Social Responsibility

_____ involves marketing philosophies, policies, procedures, and actions whose primary objective is the enhancement of society.

Social Responsibility

Carmen is a marketer for a global consumer products company. She is designing a promotional campaign for a foreign market and wants to ensure that the promotional campaign is clearly understood by the target consumers. She is also taking special care to see that the campaign is free from controversies and does not inadvertently offend anyone. In this scenario, Carmen is specifically trying to take into account variables of the country's _____ environment.

Social-Cultural

Consumers who are part of the Millennial generation rely on social media and the influence of peers when making decisions about purchasing products and brands compared to Baby Boom generation consumers who might prefer to read reviews by sources such as Consumer Reports. This distinction is important to marketers and part of the ______ environment.

Social-Cultural

Luxury brands such as Louis Vuitton and Gucci are experiencing a decline in sales as luxury buyers prefer to purchase non-branded merchandise as they are concerned with flaunting their wealth. Instead, they are purchasing luxury brands that do not feature the brands logo on the product. This trend is related to the fact that high income consumers have increased their wealth in the last several years while middle-income earners' wealth has declined. The decline in sales for Louis Vuitton and Gucci is related to the ________ environmental influence.

Social-Cultural

_____ involves campaigns that encourage people to adopt beneficial behaviors such as safe driving, eating more nutritious food, or improving the working conditions of people half a world away.

Socially Responsible Marketing

Which of the following is a facilitating function of marketing?

Standardization and Grading

Microsoft Windows generates considerable income for its parent company but is expensive to support. However, the expense is acceptable because Windows is the world's dominant operating system. Based on this information, Windows would be categorized under the BCG market share/market growth matrix as a

Star

Microsoft Windows generates considerable income for its parent company but is expensive to support. However, the expense is acceptable because Windows is the world's dominant operating system. Based on this information, Windows would be categorized under the BCG market share/market growth matrix as a:

Star

​With respect to the BCG matrix, which one of the following generates considerable income, but requires sizeable investments to underwrite further growth in the future?

Stars

According to the BCG market share/market growth matrix, the revenues earned from cash cows should be used to finance the growth of:

Stars and question marks

The BCG (Boston Consulting Group) matrix places strategic business units into which of the following four-quadrants:​

Stars, Cash Cows, Question Marks and Dogs

The relative position of an individual member in a group is called _____.

Status

The most powerful of the organizational drivers is/are

Story

ADA Inc. stopped its production of oral care goods after determining apparel production to be its new primary objective. This is a direct result of the _____ planning process at ADA Inc.

Strategic

Comcast's NBC division acquired Universal Studios and the highest executive who approved this acquisition was most likely Comcast's CEO. This decision is the direct result of _____ planning process at Comcast.

Strategic

If an automobile manufacturer was planning to introduce a sports car powered by a hydrogen-oxygen fuel cell when the price of gasoline in the United States reached $4 per gallon, this would best be described as a direct result of its _____ plan.

Strategic

A partnership in which two or more companies combine resources and capital to create competitive advantages in a new market is called a(n) _____.

Strategic Alliance

Caterpillar and First Solar, Inc. launched a ______ where First Solar will design and manufacture a pre-engineered turnkey package for use in remote microgrid applications, such as small communities and mine sites. The package will feature Cat-branded solar panels manufactured by First Solar and will include a balance of system components. The products will be sold exclusively through Caterpillar's extensive worldwide dealer network.

Strategic Alliance

Friums & You, a Canadian firm, together with its subsidiaries, manufactures and markets snacks, confectionery, and quick meal products worldwide. The firm has been trying to expand its business into China. As Chinese laws require foreign firms to do business with local companies, Friums & You will have to be involved in a _____ to start operations in China.

Strategic Alliance

The Coffee Cup, a popular coffee chain in Switzerland, is trying to expand its business into Canada. It decides to enter into a partnership with a Canadian bookstore chain to set up coffee shops inside bookstores, an arrangement which will benefit both firms. This type of partnership that helps to create a competitive advantage in a new market is known as a _____.

Strategic Alliance

As chief executive of Stalwart Shipfitting Company, a diversified producer of marine supplies and equipment, John needs a method for spotting promising product lines that warrant commitment of additional resources, as well as those that should be removed from the firm's product portfolio. A good choice for this firm at this stage would be to use:

Strategic Business Units

A two-day offsite retreat was held for a team of executives of a major hospital including the hospital's CEO, President, and Vice-Presidents. Over the course of the two-days, the executives engaged in brainstorming sessions and worked together to articulate the direction the hospital should take and specific objectives that should be achieved over the next 5 years. The team focused considerable attention to objectives related to the Affordable Care Act and rising numbers of patients eligible for Medicare. The executives were engaged in _______.

Strategic Planning

At a time when computer users were having trouble storing, sending, and displaying photos, Apple introduced the iMac computer, which was equipped with a digital camera interface and photo-handling software. This product was a result of Apple recognizing its:

Strategic Window

The limited occasions when the key requirements of a market and the particular competencies of a firm best fit together are referred to as:

Strategic Window

A probability sample constructed so that randomly selected subsamples of different groups are represented in the total sample is known as a(n) _____ sample.

Stratified

Which of the following is a probability sample?

Stratified Sample

A certain social networking corporation has the highest number of users in the social networking industry. This is an example of the firm's:

Strength

The demographics of people living in the United States continues to diversify and several groups - Hispanics, African Americans, and Asians represent the largest _______.

Subculture

Products that can be produced, used, and disposed of with minimal impact on the environment are called:

Sustainable Products

All planning strategies have the goal of creating:

Sustainable competitive advantage

A newly married couple is looking to rent an apartment. This decision is most likely to be:

Syncratic

​Before deciding how to market the houses designed by your architectural firm, you want to understand the role of each spouse in making this type of purchasing decision. After researching the topic, you learned that most house purchases fall into a particular role-based category. This category is:

Syncratic

An organization that regularly provides a standardized set of data on a periodic basis to its subscribers is called a ______.

Syndicated Service

Jose is the social media manager for a children's museum and is making decisions about the best mix of social media tools to utilize in order to achieve the objective of increasing the number of family memberships by 10% during the year. Jose likes to use Twitter, Instagram, Facebook and Pinterest to reach the museum's desired target market but he spends most of his time developing the appropriate content and determining the frequency of posts. Which term best describes Jose's activity related to determining the use of social media?

Tactical Planning

An event management company decided to use radio advertising in order to promote an upcoming music festival. The executives of the company suggested various activities that could be used for the radio campaign. These activities are a part of the company's _____.

Tactical Planning Efforts

The group of people to whom a firm directs its marketing efforts and ultimately its merchandise is known as its _____ market.

Target

Jose is part of a team that is analyzing current demographic trends. The team will make a recommendation concerning the groups of consumers toward whom the firm should direct its new marketing effort. Jose's team is involved in which of the following elements of the firm's marketing strategy?

Target Market

​You are about to launch a digital advertising startup. Your former marketing professor warns you to get the first element in the marketing strategy right -- because otherwise, your new company is doomed to failure. Which is this essential element?

Target Market

Air travel today is not very glamorous and takes a lot of patience but many changes have occurred to enhance convenience for travelers. First, consumers can book their own travel via the Web rather than use a travel agent. Before their flight, they can check-in remotely via their smart phone or other mobile device and print their boarding pass. Alternately, they can use their smart phone to display their boarding pass to the gate agent who scans the digital image. Once on-board and safely cruising, some airlines offer in-flight wifi to enable travelers to check their e-mail, send documents, surf the web or catch up on a Netflix series or movie. These conveniences are most related to the ________ environmental factor.

Technological

Widespread adoption of wireless networks and in-home Internet use has led to an increased availability of "smart" products for the home such as thermostats, lighting, security, systems and smoke detectors. Which environmental factor is most related to the new smart home products?

Technological

_____ leads to new goods and services for consumers, improves existing products, offers better customer service, and often reduces prices through new, cost-efficient production and distribution methods.

Technology

Last summer, the Thomas family had to decide whether to buy a new car, go to Disney World, or remodel their basement. They chose the vacation. This illustrates:

That competition can be defined in terms of dissimilar products vying for a limited supply of discretionary buying power.

Which of the following is true of culture in the United States today?

The American culture still emphasizes the importance of family and home life despite changes in the family structures over the years.

Which of the following bans the purchase of domain names that are identical or confusingly similar to existing registered trademarks?

The Anticybersquatting Consumer Protection Act

Which law protects intellectual property rights by prohibiting the copying or downloading of digital files?

The Digital Millennium Copyright Act

Which of the following agencies supports consumer rights through its initiative of informing consumers of their right to modify or discontinue receiving solicitations?

The Direct Marketing Association

Bell Weddings was the company that pioneered the wedding planning industry. The owners realized that customizing weddings to the wishes of the families, taking charge of the responsibilities, and creating a day that is memorable for clients was an incredible business venture. The case of Bell Weddings illustrates the value of _____.

The First Mover Strategy

What has five dimensions, is dynamic and ever changing, and drives the marketer's decisions about target markets and the marketing mix?​

The Marketing Environment

JP Video Rentals is offering a "Rent 2 get 1 free" video rental coupon. They have been accused of deceptive advertising throughout the U.S. Which division of the Council of Better Business Bureaus is designated to handle such cases?

The National Advertising Division

Which act prohibits price discrimination in sales to wholesalers, retailers, or other producers?

The Robinson-Parman Act

Which of the following acts gives the FTC jurisdiction over false and misleading advertisin

The Wheeler-Lea Act

Which of the following acts gives the FTC jurisdiction over false and misleading advertising?

The Wheeler-Lea Act

​Since the latter part of the 19th century, the U.S. government has played an activist role in the financial markets and the market for goods and services. The emphasis of their role has varied over this time as different issues and dynamics were at the forefront of business and economic trends. The first phase of the U.S. government's active regulatory role, in the early part of the 20th century, can be best described as which of the following?

The antimonopoly phase.

An example of a threat to a firm discovered by a SWOT analysis might be:

The entry of new competitors in the industry

Decisions relating to the product strategy primarily revolve around _____.

The features of the products being released in the market

Which of the following would qualify as an example of a firm's weakness?

The firm's failure to pay its taxes on time leading to a poor reputation in the market.

Business strategies are impacted by the widespread use of the Internet. Which of the following is true with respect to its impact?

The internet has reduced barriers to market entry

Which of the following is a basic requirement for effective market segmentation?

The market segment must present measurable purchasing power and size.

Which one of the following statements is true about past geopolitical events and the five eras in the history of marketing?

The marketing era was interrupted by World War II.

Consumers are more likely to experience cognitive dissonance when:

The purchase decision has potential economic consequences.

In the learning process, reinforcement is:

The reduction in drive that results from a proper response.

Emeril works for a local sports bar known for its chicken wings and nachos. For the last five years, the company has continued to grow, and according to a recent trend analysis, sales have risen by increments of about $530,000 annually since the restaurant opened its doors. Surprisingly, however, the restaurant has seen a decline in patronage over the last quarter, and Emeril has been tasked with identifying the root cause of this sudden decline in sales. Emeril has never conducted exploratory research, so you have decided to help him. One of the first lessons you share with him is to be careful about confusing the symptoms of a problem with the problem itself. After you conduct a series of interviews with waitstaff, customers, distributors, and other stakeholders, you help Emeril come up with possible explanations for the decline in sales. Which of the following is a possible cause of the problem at the restaurant?​

The restaurant's marketing team recently released a new billboard that many customers find offensive.

The four basic consumer rights are: the right to be informed, the right to be heard, the right to be safe, and:

The right to choose freely.

​Consumerism is defined as a social force within the marketing environment that aids and protects the consumer by exerting legal, moral, and economic pressures on business and government. The conceptual framework for consumer rights include all of the following except:

The right to fair pricing.

An automobile manufacturer is dependent on a single supplier for tires. Based on this information, which of the following statements is true?

The supplier has significant bargaining power.

A shoe manufacturer has multiple suppliers for leather. Based on this information, which of the following statements is true?

The suppliers have lesser bargaining power than the buyer

The looking-glass self is defined as:

The way an individual thinks others see him or her

Marketing to Asian American consumers is challenging as:

They belong to multiple ethnic groups with their own language, religion, and value systems.

Which of the following is true of the Hispanic population in the United States?

They have mostly descended from families who have lived in the United States for many generations.

An article titled, "Jeff Bezos Says Amazon is Seriously Serious about Drone Deliveries", recently appeared in a widely circulated business publication. Which of the following statements is true about this statement and its relationship to the Eight Universal Marketing Functions?

This statement relates to the physical distribution function of transporting.

Which of the following is the reference book that can help marketers track down trade organizations that may have data pertinent to their company?

Thomson Gale's Encyclopedia of Associations

Zara and H&M are market leaders in the world of "fast fashion" where they're able to design and manufacture clothing based on the latest fashion trends in a quick and affordable manner. Due to their ability to partner with manufacturing firms in developing countries and their use of supply chain strategies, Zara and H&M can reduce the time between design and availability in the retail store which is a significant competitive advantage. These companies make use of _______ competition.

Time-Based

Lockheed Martin won the largest military contract ever by proving it could be the first company to develop and fly a new model plane. This illustrates the importance of _____.

Time-Based Competition

_____ is a strategy of developing and distributing goods and services more quickly than other firms.

Time-Based Competition

​Your company is the market leader in your industry. You consistently beat your competition by developing and distributing your goods and services more quickly than they are able to do. Which of the following best describes what you are doing to beat your competition?

Time-Based Competition

Compared to other organization personnel, more time is devoted to long-range strategic planning by the:

Top Management

​Shawn is a category manager for Hormel Foods' fresh meat division and is based in Bentonville, Arkansas. One of his major responsibilities is to be a resource to Wal-Mart. Which of the following would most likely be part of his responsibility as a category manager?

Tracking sales history for Hormel Food products and other fresh meat brands available from the point-of-sale systems.

Budweiser and its stable of beer brands including Michelob, Bud Lite and Budweiser Platinum have faced significant inroads in sales by craft breweries such as Boston Beer Company and Sierra Nevada Brewing Company. The craft breweries represent a(n) ______ to Budweiser.

Treat

1 / 1 pts A marketing-related problem can be identified by evaluating the firm's marketing mix elements and target market.

True

A SWOT analysis helps planners compare internal organizational strengths and weaknesses with external opportunities and threats.

True

A brand name should give buyers the correct connotation of the product's image.

True

A clothing manufacturer sells to 300 retail chains and boutiques within the United States. Since West Coast retailers have a more affluent clientele, they can command higher retail prices. This is likely to be considered illegal under the Clayton Act.

True

A full-service research supplier is a marketing research organization that performs all the steps in the marketing research process for a client.

True

A hypothesis sets the stage for more in-depth research by further clarifying what researchers need to test

True

A life insurance salesperson explaining the benefits of a policy to both husband and wife in a two-income family is perceiving the adoption of the policy to be a syncratic purchase decision.

True

A marketing mix should be an ever-changing combination of variables to achieve success.

True

A mission can be defined as an essential purpose that differentiates one company from others.

True

A need is an imbalance between the consumer's actual and desired states.

True

A product strategy includes decisions about customer service, package design, brand names, trademarks, patents, and warranties.

True

A reference group's influence on the purchasing decision of a member is often greater when the product is more conspicuous and not commonly owned.

True

A research design is a master plan or model for conducting marketing research.

True

A restaurant owner who places signs along the interstate highway to advertise his service knows that the signs will act as a cue for hunger causing consumers to stop at the restaurant.

True

A small service agency is trying to assess clients' view of the quality of service over the past year. If the company has had 1000 clients over the past 12 months, then all 1000 clients constitute the population considered for the survey.

True

A strong brand identity can contribute to the consumers' perceptions of product quality.

True

A target market is a group of customers toward whom a firm directs its marketing efforts.

True

A well-defined problem allows the researcher to focus on securing the exact information needed to solve the problem.

True

According to Kurt Lewin's theory of human behavior, the personal factors affecting consumer behavior are one's attitudes, learning, and perception

True

According to Kurt Lewin's theory of human behavior, the personal factors affecting consumer behavior are one's attitudes, learning, and perception.

True

According to relationship marketing, the lifetime value of a customer should exceed the investment made by the firm to attract and keep the customer.

True

According to the BCG matrix, dog products can be sold to other firms, where they are a better fit.

True

According to the BCG matrix, if a question mark cannot become a star, the firm should pull out of the market and target other markets with greater potential.

True

According to the BCG matrix, stars require considerable inflows of cash to finance further growth.

True

Adjustments in the mission statement of an organization reflect changing business environments and management philosophies.

True

Advertisements that utilize closure have a good chance of catching the attention of consumers as they try to complete the advertising message with a limited amount of stimuli.

True

After defining the problem, the next step in the marketing research process is to conduct the exploratory research.

True

After purchasing a new oven and a cooking range, Martha was contacted by the store where she purchased the products. The salesperson inquired about the delivery, installation, and her overall satisfaction with the purchase. Such strategies employed by marketers help in reducing cognitive dissonance.

True

All planning strategies have the goal of creating a sustainable competitive advantage for a firm which other companies cannot imitate.

True

An evoked set is limited in case of an immediate need.

True

An organization lays out its basic objectives, or goals, in its complete mission statement.

True

An organizational objective should specify time frames stating "Our organization aims to generate a 15 percent profit over the next 24 months."

True

An undifferentiated marketing strategy is more suited for a firm that markets generic products rather than individual brand names.

True

Analysis of sales performance records helps marketers to find clues to potential problems.

True

Apple iTunes is an example of a successful first mover.

True

As the senior vice-president of marketing, Naomi will be closely involved in her firm's strategic planning.

True

Attitudes of a person toward some object or idea are highly resistant to change.

True

Big data is information that originates in unprecedented volume and speed from the world around us.​

True

Brand loyalty is valued by marketers as it not only ensures that the consumer purchases the product but it also acts as a buffer against competitive messages getting to the consumer.

True

Businesses may need to adjust their data collection methods for primary research in foreign countries since some methods do not easily transfer across national borders.

True

Chris decides to proceed with a majority decision, even though the decision goes against his beliefs. Chris is exhibiting the Asch phenomenon in this scenario.

True

Cognitive dissonance is likely to increase when the purchase decision has a major effect on the buyer.

True

Colleges and universities, and other not-for-profit institutions play major roles in the development of new technology.

True

Concentrated marketing is also known as niche marketing.

True

Conducting mail survey research in some parts of Asia can be difficult since ​a large part of the population is not able to read or write.

True

Considerable external search for alternatives is typical when consumers are involved in extended problem solving.

True

Consumers are most likely to exhibit routinized response behavior while purchasing low-involvement products.

True

Consumers with strong loyalties to certain products are more difficult to reach with competitive advertising.

True

Critics of Maslow pointed out that depending on the personal value system of an individual, he/she might skip the level of esteem needs and move directly toward self-actualization

True

Critics of Maslow pointed out that depending on the personal value system of an individual, he/she might skip the level of esteem needs and move directly toward self-actualization.

True

Culture is the broadest environmental determinant of consumer behavior.

True

Culture refers to the values, beliefs, preferences, and tastes that are handed down from one generation to the next

True

Culture refers to the values, beliefs, preferences, and tastes that are handed down from one generation to the next.

True

Dale and Lisa, ranchers from Wyoming, found that the meat of their large, slow-growing hogs were not selling in American grocery stores. However, the animals command premium prices in Japan where the meat is enjoyed for its flavor and fat content. The purchasing influence they are experiencing is a cultural influence.

True

Data analysis companies work with other businesses to fine tune marketing strategies in real time.

True

Data mining focuses on identifying relationships that are not obvious to the marketers.

True

Detergent packets purchased by a leading laundry service are considered business products.

True

Dividing an overall market into homogeneous groups based on gender and age would constitute demographic segmentation.

True

During an economic recession, marketers look to emphasize value in their offerings by reducing prices in order to help consumers stretch their budget dollars.

True

During the process of market segmentation, finalizing the marketing strategy and tactics helps firms to determine the costs of marketing and the expected level of resources it must commit.

True

Each SBU pursues its own distinct mission and often develops its own plans independently.

True

Each element of the marketing mix—product, price, distribution, and promotion—is a subset of the overall marketing strategy.

True

Economic recovery can be described as a period when consumer spending begins to cautiously increase, while companies try to hold down rising costs.

True

Employees at middle-management levels engage themselves in business unit budgets and divisional policies and procedures.

True

Environmental scanning is the process of collecting external data, analyzing it, and determining whether the trends identified are opportunities or threats to the company.

True

Families, bachelors, and retirees could be considered separate market segments for a company promoting travel packages.

True

Fears of product tampering have forced many firms to improve package designs.

True

Firms can reposition their already successful products in order to gain a greater market share.

True

Firms rarely use test marketing for long lived durable goods.

True

Firms usually decide whether to conduct a marketing research study internally or through an outside organization based on cost, reliability, and accuracy of the data collected by the outside firm.

True

For-profit organizations tend to focus more on their customers than not-for-profits do.

True

Fred's Wholesale Club sends emails and catalogs to all members. Additionally, in-store pamphlets promote the benefits of its products. All of these materials are part of the integrated marketing communications intended to send a consistent and unified promotional message.

True

Group membership influences an individual's purchase decisions and behavior in both overt and subtle ways.

True

If a middle manager buys a Audi automobile because several top executives in the firm own Audis, this demonstrates the influence of membership groups.

True

Improved product quality and superlative customer service can help a company gain a competitive advantage in the marketplace.

True

In a SWOT analysis, marketers face a problem when environmental threats attack their organization's weaknesses.

True

Individuals who aspire to become members of a certain group most often adopt its standards of behavior and values.

True

Interactive marketing refers to buyer-seller communication in which the customer controls the amount and type of information received from a marketer.

True

Interpretative research focuses on understanding the meaning of a product or the consumption experience in a consumer's life.

True

Interpretative research is often used to interpret consumer behavior within a foreign culture where consumer expectations are subject to different cultural influences.

True

Interpretive research focuses on understanding the meaning of a product in a consumer's everyday life.

True

It was not until the introduction of the Chevrolet Nova in Mexico that marketers realized "no va" in Spanish means "won't go." This linguistic error demonstrates how Chevrolet overlooked cultural differences in its product introduction.

True

Items can be classified as business products, not because of what they are, but because of how they will be used.

True

Jacqueline plans to purchase a 40-inch flat-screen television. After reading Consumer Reports, comparing technologies and prices on the Internet, and talking with friends and family who have made similar purchases, Jacqueline makes her selection. The component of attitude that is most apparent in this situation is the cognitive component.

True

Kim's Egg Rolls were being promoted as a dinner item but after a few years the company decided to change their packaging and advertising to promote the egg rolls as evening snacks. This is an example of repositioning a product.

True

Kurt Lewin's theory of human behavior defines behavior as a function of the interactions of personal influences and pressures exerted by external environmental forces.

True

Major oil companies, such as ExxonMobil and Chevron, often donate large amounts of money toward political campaigns in an attempt to influence government policy in their favor. This is an example of environmental management.

True

Manufacturers engage in risk taking when they create goods and services based on research and their belief that consumers need them.

True

Marketers are finding new product opportunities with two-income families demanding goods and services that fill the need for convenience, health, safety, and time constraints

True

Marketers are usually more concerned with the amount of discretionary income in households.

True

Marketers can attempt to change consumer attitudes by engaging them in new buying behavior.

True

Marketers can gain valuable insights by examining the dissatisfaction of the customers that leads to abandoning certain products for those offered by competitors.

True

Marketers put the marketing strategy into action in order to monitor performance to ensure that objectives are being achieved.

True

Marketing decision support systems (MDSSs) organize data in ways that allow users to model different scenarios and evaluate them before making marketing decisions.

True

Marketing research aids decision makers in analyzing data and in suggesting possible actions.

True

Marketing strategies that work for a particular cultural group in the United States will always work when applied to the same cultural group abroad.

True

Marketing strategy is an overall company-wide program for selecting a particular target market and satisfying consumers through a careful blend of the elements of the marketing mix.

True

Maros, an agricultural biotechnology company, is the sole supplier of genetically engineered seeds and controls 84 percent of the market share for genetically modified crops. This is an example of a monopoly.

True

Middle and supervisory-level managers spend less time as compared to CEOs on planning activities.

True

Motives are inner states that direct a person toward the goal of satisfying a need.

True

Observation is a useful technique to collect primary data for marketers trying to understand how consumers behave in certain situations.

True

Once consumers have used a product, seen it advertised, or noticed it in a store, it moves from the unknown to the known category, which increases the probability that they will purchase it.

True

One of the greatest challenges in the use of big data is the ability to manage and analyze all of the information gathered about consumers.

True

One way the Federal Trade Commission can enforce laws is by issuing a consent order in which a firm accused of violations can agree to voluntary compliance without admitting guilt.

True

Opinion leaders are the first consumers to try new products and then share their experience by word of mouth.

True

Organizational resources include the capabilities of the firm's production, marketing, finance, technology, and employees.

True

Over the past decade, the market for fresh spinach has increased dramatically. However, an outbreak of E. coli bacteria from certain spinach fields reduced spinach sales temporarily. The behavioral component of attitude was most likely affected by this event.

True

People develop standards of ethical behavior based on their own systems of values.

True

Perception is the meaning a person attributes to incoming stimuli gathered through the senses of hearing, taste, smell, touch, and sight.

True

Personal interviews are usually the best means to obtain detailed information about consumers.

True

Planning often is classified on the basis of its scope or breadth.

True

Porter's Five Forces are potential new entrants, bargaining power of buyers, bargaining power of suppliers, threat of substitute products, and rivalry among competitors.

True

Product development partnerships and vertical alliances are two examples of strategic alliances.

True

Product positioning refers to consumers' perceptions of a product's attributes, uses, quality, and advantages and disadvantages relative to competing brands.

True

Public and private consumer interest groups and self-regulatory organizations are part of the legal environment.

True

Researchers conducting studies in several different countries should consider cultural differences when designing the research project.​

True

Researchers rarely use an entire population for a study, unless the total population is small, because of the high costs associated with it.

True

Sampling is the process of selecting survey respondents or research participants.

True

Sentencing guidelines act as an incentive for corporations to implement effective ethics compliance programs—if they are hauled into court, the existence of such a program can help reduce penalties.

True

Social class has rankings determined by income, occupation, education, family background, and location of residence.

True

Social responsibility includes marketing philosophies, policies, procedures, and actions whose primary objective is to enhance society and protect the environment through sustainable products and practices.

True

Some firms register a brand name before they have manufactured the product in order to prevent competitors from using the name.

True

Strategic alliances are necessary in countries where local laws require foreign companies to work with local businesses.

True

Strategic business units are key business units within small companies that offer only a few items to it customers:

True

Studying the underlying causes of customer defections, even partial defections, can be useful for identifying problem areas that need attention.

True

Sustainable products are products that can be produced, used, and disposed of with minimal impact on the environment.

True

Tactical planning usually involves the production of quarterly and semiannual plans, along with divisional budgets, policies, and procedures.

True

Targeting a large number of small markets can produce an expensive, complex, and inefficient marketing strategy.

True

Targeting consumers in specific global markets represents a challenge.

True

Technological advancement helps reduce prices and offers superior, cost-efficient distribution methods.

True

Technological innovations create not just new goods and services but also entirely new industries.

True

Telephone surveys have relatively high response rates and are effective at drawing appropriate responses.

True

Test marketing a new product is expensive and communicates company plans to competitors prior to its full-scale introduction.

True

The Asian American subculture consists of numerous ethnic groups, each of which brings its own language, religion, and values to the marketplace.

True

The Hispanic American population is not a single homogeneous group, but a composite of a number of culturally distinct groups.

True

The U.S. military has historically been a source of product innovation and many of its technologies have been adapted for the consumer markets.

True

The advent of a strong buyer's market created the need for consumer orientation by businesses.

True

The basic consumer rights expounded by President Kennedy include "the right to be safe," referring to the idea that the goods and services people buy should not be injurious in normal use.

True

The choice between secondary and primary data is tied to cost, applicability, and effectiveness.

True

The competition between Amtrak, Hertz, and Delta Airlines for the travelers' dollar is considered indirect competition because these services can be substituted for one another.

True

The decision of whether or not to compete should be based on a firm's resources, objectives, and expected profit potential.

True

The degree of external search increases as purchasing behavior moves from routine to limited to extended problem solving.

True

The demand for green products is increasing as consumers have responded by purchasing more and more green goods, providing profits and opportunities for growth to the companies that make and sell them.

True

The environmental scanning process helps firms to determine the best response to a particular environment change.

True

The five dimensions of the marketing environment are competitive, political-legal, economic, technological, and social-cultural.

True

The government's Do Not Call Registry exempts callers representing not-for-profit organizations and political candidates.

True

The market shares for generic products increase during economic downturns but subside when the economy improves.

True

The marketing strategy that targets potential customers based on specific occupation or lifestyle is called micromarketing.

True

The number and size of the market segments chosen by a firm must match its marketing capabilities.

True

The number of "hits" for a web page represents the number of times a visitor accesses the page.

True

The number of brands included in the evoked set may vary according to the situation and the person.

True

The planning process creates a blueprint that everyone in the organization must follow in order to achieve the organizational objectives.

True

The statement of Starbucks to "inspire and nurture the human spirit - one person, one cup and one neighborhood at a time" is an example of a mission statement.

True

The strategy of time-based competition can be advantageous to companies most affected by technology.

True

The symptoms of a problem merely alert the marketer that a problem exists.

True

Tide laundry detergent commands an extremely high market share. Purchasers of the product are extremely less sensitive to price changes. Based on this assessment, it can be said that Tide has high brand equity.

True

To be most effective, the planning process should include input from a wide range of sources both internal and external to the organization.

True

Toyota's introduction of the hybrid-powered Prius is an example of how it has turned public concerns and legal issues about the natural environment into an opportunity.

True

Understanding of differences among subcultures is essential for developing effective marketing strategies.

True

Understanding the consumer decision process can be used by marketers to change consumers' attitudes about their products.

True

Using AIO statements allows marketing researchers to develop lifestyle profiles.

True

Videotaping consumers in action is gaining acceptance as an observational research technique.

True

Well-known luxury retailers offer unique or prestigious products at price ranges slightly lower than their premium brands to attract middle-class consumers aspiring to the upper class.

True

With increased availability of information, rivalry heats up among competitors who try to differentiate themselves from the crowd.

True

​Marketing intelligence refers to the sum total of information related to a firm's markets.

True

Electric power companies often give advice on how consumers can use less electricity during the summer and save money on their electric bills. This is an example of demarketing.

Ture

Ensuring ethical practices means promising customers and business partners to sacrifice quality and fairness for profit.

Ture

Marketing myopia occurs when management fails to recognize the scope of its business.

Ture

Mobile marketing is a term used to describe marketing messages sent via wireless technology.

Ture

Not-for-profit organizations have numerous organizational objectives other than profitability due to their diversity.

Ture

The Direct Marketing Association helps consumers to get their names removed from marketers' targeted lists.

Ture

Survey methods used in marketing research for collecting primary data involve the:

Use of questionnaires to obtain demographic information of consumers.

A leading e-Learning company is expanding its operations in Japan. To ensure smooth communication between branches, it needs a communication technology which provides facilities such as call plans, call waiting, and three way calling. Additionally it would like to keep costs low. Which technology should it adopt?

VoIP

​You are watching an episode of a new game show that tests contestants' knowledge by giving them phrases they must respond to with a question. The following phrase comes up:"Its purpose is to inform an organization about customers' needs and desires, marketing opportunities for products, and changing attitudes and purchase patterns of customers."What should be your response to the phrase?

What is marketing research?

Which of the following conditions would lead a company's marketers to find a new market, change prices, or compete in other ways to maintain an advantage?

When the treat of substitute products is high

​In marketing your baby food, you want to understand the most common evaluative criteria used by your customers during the relevant stage of the consumer decision process: evaluation of alternatives. Based on research, these criteria are likely to include all of the following except:

Where and from whom to buy your baby food

_____ roles are mostly seen in households with two wage earners while making purchase decisions.

Wife-Dominated

Which of the following is the earliest method used for gathering marketing information?

Written testimonials received fro purchasers of a firm's product.

When marketers apply quality control standards, they are:

reducing the need for purchasers to inspect each item they purchase.

Ethics are:

the moral standards of behavior expected by society.

Adrienne has received her first solo assignment since she was hired as a junior marketing researcher for a national food and beverage distributor. She has been asked to formulate some preliminary ideas about new product development for coffee products sold in the distributor's on-premise consumption outlets. She understands that this assignment is a test to see whether she knows the process. She decides to start with the basics, adding a twenty-first-century twist. How will Adrienne begin the process of formulating ideas about new product development?​

​Adrienne will send online coupons to customers who are Facebook friends or have visited the company's website, and ask them to complete a brief online AIO lifestyle survey that inquires about their activities, interests, and opinions.

The NBA Sacramento Kings play their home games in the Arco Arena. The naming of their stadium is an example of which one of the following five types of nontraditional marketing?

​Event Marketing

​Marketers are keenly aware that good marketing alone is not enough to win the hearts and minds of consumers anymore. Now, marketers must market in a socially responsible manner or risk alienating consumers in ways that can be irreparable. Which one of the following statements is trueregarding social responsibility?

​Government legislation can mandate socially responsible actions.

​The overall health of the economy has a significant impact on consumers' ability and willingness to purchase goods and services. The most reliable measure of the economy's health is the sum of all final goods and services produced in the country in a given period. This measure is called____________.

​Gross Domestic Product (GDP)

You are working with the data scientist from your sales department to develop a regression model for forecasting your company's sales based on changes in the U.S. economy. Which of the following types of data do you need the most in order to enhance the accuracy of the model's forecasts?​

​Quantitative data about your company's historical sales and U.S. economic performance statistics

You are working with the data scientist from your sales department to develop a regression model for forecasting your company's sales based on changes in the U.S. economy. ​ Which of the following types of data do you need the most in order to enhance the accuracy of the model's forecasts?​

​Quantitative data about your company's historical sales and U.S. economic performance statistics

As a marketing director, you have developed a line of skincare products focused on current needs that consumers have, including matters like wrinkles, sun effects, fine lines, and exfoliation for both men and women. Selena and her husband David have purchased several products from the skincare line and are satisfied consumers. ​ ​Selena decides to purchase a cream to minimize fine lines because she notices some developing around her eyes. David's brother, André, purchases a product for sun effects after David mentioned how well it worked. Which types of consumer behaviors are exhibited in the scenario above?

​Selena exhibits a personal factor and André exhibits interpersonal influence.

The technological environment that a company operates in represents all the discoveries made via science, inventions and innovation that impacts the firm's marketing strategy. Which one of the following statements is false regarding the impact of technology on the firm's marketing endeavors?

​Since it is equally accessible by all competitors, it offers limited competitive advantages.

​Since the latter part of the 19th century, the U.S. government has played an activist role in the financial markets and the market for goods and services. The emphasis of their role has varied over this time as different issues and dynamics were at the forefront of business and economic trends. The first phase of the U.S. government's active regulatory role, in the early part of the 20th century, can be best described as which of the following?

​The antimonopoly phase.

Because consumer needs and purchasing power vary widely, marketers try to identify those factors that affect the decision to buy and make a good target market. Which important characteristic of a market segment would make it an attractive target market?​

​The market segment shows a pattern of growth.