MKTG CH1 WWU

T/F ​Online communities facilitate B2B marketing.

True

A 5 percent increase in the price of corn flour that results in a 15 percent increase in the quantity supplied yields a price elasticity of supply for corn flour of:

3

​Some supermarkets now offer in-store bank branches, photography studios, and Starbucks or Dunkin' Donuts outlets. This is an example of:

??? ​Retail convergence???

person marketing

A musician endorses a certain automobile. This is an example of...

Which of the following statements is true of venture teams?

A venture team's flexible lifespan may extend over a number of years

In the context of the business products classification system, which of the following group of products is typically promoted through advertisements rather than through personal selling?

Accessory equipments

Which of the following offers the fastest mode of transportation?

Air freight

place marketing

An advertisement titled "The Ultimate Place for a vacation" is an example of...

As marketers we use a positioning statement as: Copy used for press releases that are distributed to journalists An internal strategic document to clarify our value proposition A script for our sales team to use when talking with consumers An advertisement to persuade consumers to purchase our brand

An internal strategic document to clarify our value proposition

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

Applicability

The _____ describes the tendency of people to conform to majority rule.

Asch phenomenon

_____are those born between 1946 and 1964 and are a popular segment to target because of their numbers and income levels. Baby Boomers Generation Y Tweens Generation X

Baby Boomers

Which of the following elements of a print advertisement focuses on informing, persuading, and stimulating buying action?

Body copy

_____ pricing occurs when a company offers two or more complementary products and sells them for a single price.

Bundle

Fred Foods Inc. provides free cereals and biscuits to support a program that aims to end hunger in various emerging nations. This is an example of _____ marketing.

Cause

Finished business products of one producer that become part of the final products of another producer are called _____.

Component parts and materials

Which of the following products is typically a wife-dominant purchase? Apartment Auto insurance Children's clothing Furniture

Children's clothing

Best Transport Solutions provides trucking services to various furniture manufacturers. The regular rate that Best Transport would charge for moving furniture from a company's warehouse to a specific retail store is referred to as the _____ rate.

Class

_____ is the process through which the ultimate buyers make purchasing decisions about a product or service.

Consumer behavior

Which of the following actions is most likely to be taken by a company in order to implement the value pricing objective?

Convincing consumers that the quality of their lower-priced product is the same as that of a comparatively higher-priced product sold by a competitor

Which of the following is a strategy in which a retailer shares advertising costs with a manufacturer or a wholesaler?

Cooperative advertising

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

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

Deflation

_____ describes the wide range of transactions taking place via Internet applicationssuch as email and virtual shopping carts.

E-business

A strategic alliance is defined as a partnership between a for-profit business and a not-for-profit organization. True False

False

As an official sponsor of the Olympics, The Coca-Cola Company engages in _____ marketing.

Event

A firm describes its overall goals and operational scope in its standard operating procedures manual. False True

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 True

False

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

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. True False

False

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

False

T/F A dinner at an exclusive restaurant is a pure good.

False

T/F ​Changes in product packaging such as single-serve containers of Kraft Macaroni and Cheese have no influence on a product's lifecycle.

False

T/F ​It's often less expensive to attract new customers than to market different products to existing customers.

False

A positioning statement is a useful strategic statement for the marketing team. The sequence of the positioning statement is as follows.

For [Consumers], Who [Target Market], Brand [Your products/name], is the only [frame of reference; product category], that provides [problem that will be solved], unlike [main competitor], because [point of difference].

Creating _____ utility is the responsibility of the production function.

Form

Which of the following is an example of a rebate offered to buyers?

Getting $5 returned by mail after a $100 purchase for making the purchase

Which of the following types of MPR responds to an external situation that has potential negative consequences for an organization?

Reactive MPR

At the _____ stage in the consumer adoption process, potential buyers begin to seek information about the product.

Interest

Which of the following statements is true regarding online surveys? It allows participants to respond at their leisure. It allows researchers to establish rapport with the respondents and explain confusing or vague questions. It is a highly time consuming method. It is more intrusive than telephone surveys.

It allows participants to respond at their leisure.

Which of the following is true of secondary data used in marketing research?

It requires less time and is less expensive to gather.

_____ are increasingly taking on the role of channel captain within many distribution networks.

Large-scale retailers

_____ is knowledge or skill that is acquired as a result of experience, which changes consumer behavior.

Learning

A series of related products offered by one company is called a product _____.

Line

organization marketing

Many not-for-profits utilize ____ in order to influence people to accept their goals or contribute in some way

Annie's Inc., which produces vinegar for cooking purposes, identified new uses for its product and started promoting it as a fabric softener and a cleansing product. The company started selling the same product in different packages modified for different types of uses. This strategy used by Annie's to increase the sales of its product is an example of a _____ strategy.

Market penetration

_____ refers to a company's messages about general management issues.

Nonmarketing public relations

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

Which of the following is a market structure characterized by homogeneous products in which there are so many buyers and sellers that none has a significant influence on price?

Pure Competition

_____ is a cash reward paid to retail salespeople for every unit of a product they sell.

Push money

____ are people or institutions whose opinions are valued and to whom a person looks for guidance in his or her own behavior.

Reference group

Rangers, a firm that provides a towing service, boasts of a very consistent performance track record and promises a quick and good quality service "anytime, anywhere." According to this information, Rangers is focusing on which of the following variables of service quality?

Reliability

A company produces a high-quality product, with a maximum monthly output of 10,000 units. Production levels are constant and the company relies on its marketing department to find customers for its output. This approach is consistent with which era in marketing history?

Sales era

The process of applying a series of rewards and reinforcements to permit more complex behavior to evolve is called _____.

Shaping

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

Stars

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? ​SBUs ​Stars ​Cash cows ​Question marks ​Dogs

Stars

Which of the following is a low-involvement product? Cars Stationery Laptops Jewelry

Stationery

_____ constitute the regular expenses a firm incurs in its daily operations

Supplies

The U.S. database that combines features such as railroads, highways, and rivers with census data such as household income is called:

TIGER (Topographically Integrated Geographic Encoding and Referencing).

not-for-profit organization

The American Cancer Society in the private sector and the Department of Natural Resources in the public sector are examples of...

Which of the following is also known as the Anti-A&P Act?

The Robinson-Patman Act of 1936

event marketing

The concert of a French rock band was promoted by a certain firm in the United States. This is an example of...

Which of the following statements concerning the global marketplace is true? The global marketplace is diminishing because of Internet technology. The global marketplace is growing because of trade agreements. The global marketplace is growing due to the threat of the ability of a single nation to manufacture, supply, and consume all that it produces. The global marketplace is growing owing to the talent shortage in the home countries of national companies.

The global marketplace is growing because of trade agreements.

The A.G. Harding company has been charged with price discrimination under the federal Robinson-Patman Act. Which of the following would be the best defense against the charge?

The price differential is justified as they do not exceed the cost differences resulting from selling to various classes of buyers.

Continuous effort to improve products and work processes with the goal of achieving customer satisfaction and world-class performance is referred to as _____.

Total quality management

Programs that improve customer service inside a company raise productivity and staff morale, resulting in better customer relationships outside the firm.

True

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

True

T/F Services are intangible products.

True

Which of the following is a part of the consultative selling process?

Understanding customer problems

one-to-one marketing

a customized marketing program designed to build long-term relationships with individual customers

A gaming corporation and a mobile manufacturer work together to develop unique games which are made available on the applications of the phones. This is an example of: an exchange function. marketing research. social marketing. a strategic alliance.

a strategic alliance.

In the context of the business products, capital items that typically cost less and last for shorter periods than installations are called _____.

accessory equipment

In the context of the business products, capital items that typically cost less and last for shorter periods than installations are called _____.

accessory equipments

An advertisement that creates warm feelings of goodwill toward the advertiser and his products is altering the _____ component of attitude. behavioral traditional affective tangible

affective

Channel conflicts can be defined as conflicts:

among manufacturers, wholesalers, and retailers.

A person's enduring favorable or unfavorable evaluation, emotion, or action toward some object or idea is referred to as _____.

attitude

A(n) _____ gathers buyers and sellers in one location and allows potential buyers to inspect merchandise before submitting competing purchase offers.

auction house

An individual's reference group is most likely to influence his purchase decision while buying a(n) _____. latte automobile frozen dinner external hard drive

automobile

The _____ component of attitude specifically involves tendencies to act in a certain manner. affective intellectual behavioral cognitive

behavioral

In Maslow's hierarchy of needs, _____ needs refer to the desire of a person to be accepted by people and groups important to that individual. belongingness physiological self-actualization safety

belongingness

The method of measuring quality by comparing performance against industry leaders is known as _____

benchmarking

The _____ of a social media marketing plan examines and evaluates the competitors' presence in social media, including the platforms and tools they select and their overall effectiveness.

competitive analysis

Analysis has shown that ingredients account for less than 5 percent of a perfume's cost. So if a perfume costs $135 or more per ounce, it reflects the marketer's adoption of a pricing objective that focuses on:

creating image or prestige.

_____ describes the values, beliefs, preferences, and tastes handed down from one generation to the next.

culture

When the elasticity of demand or supply is greater than 1.0, that demand or supply is said to be:

elastic

The strategic process of creating, distributing, promoting, and pricing goods and services to a target market over the Internet or through digital tools is called:

electronic marketing.

The communication process begins with:

encoding

lifetime value of a customer

equals the revenues of benefits a customer brings to an organization, minus expenses to attract and maintain the relationship

When a product is unique or difficult to categorize, the thought process involved in a purchase decision is known as:

extended problem solving

Core competencies are capabilities that customers value and competitors: tend to overestimate. find difficult to duplicate. can easily copy. undervalue.

find difficult to duplicate.

Which of the following product categories is NOT regulated by the Consumer Product Safety Commission?​

food

Dewey Cheatum & Howe, a marketing research firm, contracts with clients to conduct complete marketing research projects, including telephone and online interviews. DK&H is a _____. limited service customer relationship management firm syndicated service full-service research supplier

full-service research supplier

During the search step of the consumer decision process, the consumer:

gathers information about the attainment of a desired state of affairs.

We often see advertisements touting a product as being made with natural ingredients, or long-lasting. Marketers using these types of promotions are positioning their products based on: value. important attributes. price benefits. symbols.

important attributes.

A negative cash discount is used by a seller to:

improve its liquidity position and cut collection expenses

A company wishing to implement a market segmentation strategy for its products should strongly consider using _____ branding. generic captive family individual

individual

Dawn, Joy, and Ivory are dish liquid brands manufactured by Procter & Gamble. All these brands can be regarded as _____ brands. private individual generic family

individual

Full-function merchant wholesalers include:

industrial distributors and rack jobbers

International Business Machines decided to brand its products under its acronym IBM. From a marketing perspective, this was a smart idea because as a brand name, IBM: is easy to pronounce, recognize, and remember. is easy to translate into any language. can easily be expanded to suit innovative advertising campaigns. accurately describes the products it manufactures.

is easy to pronounce, recognize, and remember.

marketing strategy

is the overall, companywide program for selecting a particular target market and then satisfying consumers in that marketing through the marketing mix

Although research shows that most consumers dislike the practice of telemarketing and more than 220 million have signed up for the national Do Not Call Registry, organizations still use telemarketing because:

it is cost effective; the average call costs are low

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

learning

Sales managers can best foster an ethical work environment by:

letting employees know what is expected of them

The price normally quoted to potential buyers before any discounts or allowances are allowed is called the _____ price.

list

A firm maximizes its profits when:

marginal costs equal marginal revenues.

Compared to other broadcast media, cable advertising is more likely to attract specialized audiences and encourage niche marketing. This characteristic of cable advertising is known as _____.

narrowcasting

Products with unique characteristics that cause buyers to prize those particular brands are called _____.

speciality products

The convenience goods and services that consumers constantly replenish to maintain a ready inventory are called _____.

staples

planning

the process of anticipating future events and conditions and determining the best way to achieve organizational objectives

In the learning process, reinforcement is:

the reduction in drive that results from a proper response.

social marketing

the use of online social media as a communications channel for marketing messages is known as...

utility

the want satisfying power of a product

The looking-glass self is defined as:

the way an individual thinks others see him or her

Compared to other organization personnel, more time is devoted to long-range strategic planning by the: supervisory management. top management. manufacturing labor. middle management.

top management.

A _____ is a brand for which the owner claims exclusive legal protection. field symbol category code trademark water mark

trademark

Large-scale enterprises often have a dilemma with setting the _____ price, which is the price they charge themselves when sending goods from one company profit center to another.

transfer

T/F A need is an imbalance between the consumer's actual and desired states.

True

T/F A price is the exchange value of a good or service.

True

_____ constitute the regular expenses a firm incurs in its daily operations.

supplies

​Your boss, the CEO of a restaurant chain, is very bullish on nontraditional marketing. He has instructed you to implement some of his team's ideas in the next six months - but first, to flag any of the ideas that are inaccurate applications of nontraditional marketing. Which of the following should you flag? Implement cause marketing by donating $1 from every dinner check to antipoverty agencies. ​Implement place marketing by locating new restaurants in impoverished urban areas that need economic investment. ​Implement event marketing by sponsoring a high-profile sports tournament. ​Implement person marketing by obtaining endorsements of the company's food from celebrity chefs. ​Implement organic marketing by switching to organic-certified ingredients.

- ​Implement place marketing by locating new restaurants in impoverished urban areas that need economic investment. - ​Implement organic marketing by switching to organic-certified ingredients.

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

False

T/F Bots are search programs that hunt the Web for a specific vendor and then print out a list of products and their prices at that source.

False

T/F Business and government purchasers often legally enter into contracts with favored suppliers instead of using competitive bidding.

False

Which of the following statements is indicative of a second mover strategy? Observing closely the innovations of first movers and then improving on them Entering new markets with new products before any other entrants Entering new markets with existing products Making significant innovations that turn old products into new ones

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

Which of the following is the oldest form of promotion?

Personal Selling

Many hotel chains offer free stays and other perks to repeat customers. This is an example of:

Relationship Marketing

Which act prohibits restraint of trade and monopolization and identifies a competitive marketing system as a national policy goal?

Sherman Antitrust act

Which of the following is true of focus groups used by marketers to gather primary data? They are valuable tool for exploratory research and development of new product ideas. They allow participants to respond at their leisure. They are typically used for measuring the success of a new product introduced in a specific area. They elicit information from the customers through a question-and-answer format.

They are valuable tool for exploratory research and development of new product ideas.

Programs that improve customer service inside a company raise productivity and staff morale, resulting in better customer relationships outside the firm. True False

True

Relationship marketing moves customers up a loyalty ladder—from new customers to regular purchasers, then to loyal supporters of the firm and its goods and services, and finally to advocates who not only buy its products but recommend them to others. True False

True

T/F A business product with large unit sales, for which transportation accounts for only a small percentage of the total cost, is usually distributed using the producer-agent-business user channel.

True

T/F A marketing channel is an organized system of marketing institutions and their interrelationships that enhances the physical flow and ownership of products from producer to consumer or business user.

True

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

True

T/F Supplies are also called MRO items.

True

T/F The amount by which the average transportation charge exceeds the actual cost of shipping to a particular destination under postage stamp pricing is called phantom freight.

True

T/F The breakeven point is the point at which total revenue equals total cost.

True

T/F ​A wiki is a Web page that anyone can edit.

True

_____ is a pricing strategy that allows marketers to vary prices based on such factors as demand, even though the cost of providing those goods or services remains the same.

Yield Management

wholesalers

are intermediaries that operate between producers and resellers

Perfect Digitals offers a UV lens and a sun protection cover for its camera lens for a wide range of its digital cameras, all at a single price. This strategy used by the company is referred to as:

bundle pricing

Iron ore and raw cotton are examples of: personal products. impulse products. shopping products. business products.

business products.

A product that contributes directly or indirectly to the output of other products for resale is also known as a(n) _____ product.

business-to-business B2B

The tagline used by Walmart, "Save money. Live better" is an example of a positioning strategy that is based on _____.

competitors

An urban area that includes two or more primary metropolitan statistical areas (PMSA) is called a _____. micropolitan statistical area (µSA) consolidated metropolitan statistical area (CMSA) metropolitan statistical area (MSA) core based micropolitan region (CBMR)

consolidated metropolitan statistical area (CMSA)

The Telecommunications Act of 1996 was passed to: set annual fees for telemarketers to access the Do Not Call Registry. prohibit the sale of cell phone records. deregulate the telecommunication industry by removing barriers to competition. create the national Do Not Call Registry prohibiting telemarketing calls to registered numbers.

deregulate the telecommunication industry by removing barriers to competition.

A smartphone manufacturer introduced a new device into the marketplace with pricing set according to the skimming approach. The CEO of the company reviews financial reports from the device and notes that the pricing approach used is not cost-effective for the company. How should the CEO adjust the pricing strategy for this device?

drop the price

Product lines, pricing decisions, selection of appropriate distribution channels, and decisions relating to promotional campaigns are____. independent of the impact of external factors determined from a purely retrospective viewpoint dynamic in today's boundaryless business environment fixed and unchanging

dynamic in today's boundaryless business environment

Which of the following is a benefit of an integrated marketing communications (IMC) program?​

​a unified personality for a brand or product can be created

Marketers applying a positioning strategy want to: emphasize a product's unique advantages and differentiate it from competitors' options. make their product look as much like the market leader as possible. target only the loyal users of the product. identify the different product attributes desired by different market segments.

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

The process through which a firm attempts to control downstream distribution is called _____ integration.

forward

exchange process

occurs when two or more parties exchange something of value

An alliance between a not-for-profit organization and a for-profit organization:

often benefits both parties.

The original objective of packaging was to: protect products from physical damage. comply with government regulations. indicate the quality of the product. create a brand image of the product.

protect products from physical damage.

The latest ad of Crest toothpaste says "Crest is a cavity fighter." This is an example of a positioning strategy based on: product homogeneity. product users. product price/quality. product application.

product application.

Starbucks marketing itself as "Premium coffee" is an example of a positioning strategy that is based on _____.

product class

Starbucks marketing itself as "Premium coffee" is an example of a positioning strategy that is based on _____. product homogeneity product users product class product life cycle stage

product class

The strategy of _____ refers to the introduction of new products into identifiable or established markets.

product development

The progression of a product through introduction, growth, maturity, and decline stages is called its _____.

product lifestyle

marketing myopia

results from management's failure to recognize the scope of its business

he subconscious receipt of incoming information is referred to as _____.

subliminal perception

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

target

Bailee is an account executive with an advertising agency and specializes in helping clients utilize and leverage a variety of media options to persuasively communicate with their target audiences. As part of her work with one of her accounts, she crafts a document to identify and describe the goals and strategies, target audience, budget and the implementation tactics for using Facebook, Twitter, and Instagram. The document also includes how the agency will monitor, measure and determine the success of the campaign. What is this document called?

​social media marketing plan

The four major elements of a print advertisement are the headline, illustration, body copy, and signature. ​ ​What is the purpose of the signature?

​to name the sponsoring organization

T/ F The greatest share of television advertising revenues comes from local advertisers, while most newspaper advertising revenues come from organizations that advertise nationally.

False

T/F A dual pricing strategy provides more flexibility to set prices with changing market conditions than a market-differentiated pricing strategy.

False

T/F A firm minimizes its profits when marginal costs equal marginal revenues.

False

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

False

T/F A person who manages external engagement with customers in social media channels is called a social media developer.

False

T/F A salary is a payment tied directly to the sales or profits that a salesperson generates.

False

T/F A shortcoming of the breakeven model is that it assumes that per-unit variable costs change at different levels of operation.

False

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

False

T/F A stratified sample is a type of nonprobability sample.

False

T/F All Hispanics speak the single universal form of Spanish.

False

T/F An advertising campaign is a series of different and unrelated ads that use multiple themes and appear in different media over a long period of time.

False

T/F An agent, who connects small companies with the consumers, always takes possession of the goods as well as the title.

False

T/F Antitrust legislation has eliminated all monopolies including the temporary monopolies, such as those created through patent protection.

False

T/F As economic recovery begins after a period of recession, consumption patterns would reveal a sharp spike.

False

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

False

T/F Companies are prohibited from charging a transfer price when moving goods between profit centers.​

False

T/F Compared with personal selling, advertising, and sales promotion, expenditures for public relations usually are high in most firms.

False

T/F Customer service standards state the goals and define acceptable performance for the quality of service that a firm expects to deliver to its customers.

False

T/F Division of an overall market into homogeneous groups based on their locations constitutes socioeconomic segmentation.

False

T/F Due to intense competition in the market, present-day sales promotion techniques mainly focus on providing short-term incentives to customers in order to obtain a purchase.

False

T/F During the maturity stage of the product lifecycle, the industry sales curve for a product reaches a minimum point as competitors exhaust the supply of potential customers.

False

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

False

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

False

T/F If a company markets a consumer product, such as toilet paper, in bulk quantities to the entire market, it is involved in micromarketing.

False

T/F In the context of Internet advertising, cost per response is a measurement technique that relates the cost of an ad to every thousand people who view it.

False

T/F 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

T/F Line extension is the strategy of attaching unrelated products to a known brand name to gain instant recognition for the new offerings.

False

T/F Listening to customers and using problem-solving skills to meet customer needs is called advisory selling.

False

T/F Marketers who have adopted a product-line pricing strategy have one major advantage in that they have no difficulty making price changes on individual items.

False

T/F NikSnak, a popular potato wafers brand, is most likely to use an exclusive distribution strategy.

False

T/F Online marketing differs from e-marketing as online marketing encompasses digital technologies that do not involve computers.

False

T/F Patients cannot sue a pharmaceutical company over the alleged defects of its products, if the FDA has approved the use of the medication.

False

T/F Product line pricing is the practice of marketing merchandise at variable prices negotiated between buyer and seller.

False

T/F Product strategies are essentially the same for consumer and business markets.

False

T/F Providers can maintain inventories of their services.

False

T/F Psychographic segmentation is the most common method of market segmentation.

False

T/F SUVs produced by different automobile companies constitute a single product line.

False

T/F Service firms market primarily through long distribution channels.

False

T/F Simple Foods, a breakfast cereal brand, has two wholesalers supplying to almost 100 retailers in California. Conflicts arising between the retailers and wholesalers within California will be referred to as horizontal conflicts.

False

T/F 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

T/F The greatest share of television advertising revenues comes from local advertisers, while most newspaper advertising revenues come from organizations that advertise nationally.

False

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

False

T/F The number of product liability lawsuits has fallen in recent years thanks to better designed products and more detailed regulations.

False

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

False

T/F The product lifecycle concept applies to individual brands of a product.

False

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

False

T/F The supply side of the pricing equation focuses on revenue curves.

False

T/F The use of humor in advertising is common since most people agree on what types of messages are funny.​

False

T/F Transfer pricing typically is a simple and standardized process in most organizations.

False

T/F When the elasticity of demand or supply is greater than 1.0, then that demand or supply is said to be inelastic.

False

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

False

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

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 True

False

The disadvantage of core competencies is that they can be easily duplicated by competitors. True False

False

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

False

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

False

_____ is the meaning that a person attributes to incoming stimuli gathered through the five senses.

Perception

_____ are the mental filtering processes of a person through which all inputs must pass.

Perceptual Screens

Which of the following modes of transportation is typically associated with high frequency of shipment?

Pipelines

Which type of sales promotion is intended to capture the impulse purchase?

Point-of-purchase displays

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

Postpurchase evaluation

How has the general shift from a manufacturing economy to a service economy in the United States affected physical distribution?

Customers require more flexible—yet reliable—transportation service.

Category managers are usually assisted by associates called​ ​product managers ​category killers ​category specialists ​analysts

analysts

ReadUp is a social media management software that allows its users to read free books available on the Internet and browse through various articles and international dailies for information. ReadUp can be regarded as a(n) _____.

app

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? Group of answer choices

Recovery

Which of the following is a customer-oriented sales promotion technique?

Specialty promotion items

What is a facilitating function of marketing?

Standardization and grading

Plastic bottles can take up to 1,000 years to decompose in a landfill. An enterprising entrepreneur recently developed an alternative bottle made from algae that is biodegradable. The algae bottle is an example of a _______ product.

Sustainable

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? Product Promotion Target market Distribution

Target market

social responsibility

corporations that voluntarily recycle paper, glass, and electronics practice

The practice of adding a percentage of specified dollar amount—or markup—to the base cost of a product to cover unassigned costs and to provide a profit is called _____ pricing.

cost-plus

Which of the following is true of generic products? They are identified through a brand name owned by a wholesaler or retailer. They are characterized by plain labels, little or no advertising, and no brand names. They are well known national brands sold exclusively through a joint venture between a manufacturer and a retailer. They are identified through a brand name owned by a manufacturer or other producer.

They are characterized by plain labels, little or no advertising, and no brand names.

After defining the problem and conducting an exploratory investigation, the next step in the marketing research process is to: create a research design. formulate a hypothesis. gather primary and secondary data. select the respondents for the study.

create a research design. formulate a hypothesis.

The _____ is at the heart of integrated marketing communications.

customer

Effective relationship marketing often involves: large advertising budgets aimed solely at end-users. inside information about competitors that is not in the public domain. internal sources of performance-related data. databases to track customer preferences.

databases to track customer preferences.

Which of the following was the prime reason behind the formation of regulations aimed at protecting competitors?

To provide legal protection to independent merchants against competition from larger chain stores

A theater group promoting a performance to raise funds in the fight against cancer is an example of both cause marketing and event marketing.

True

ARC Inc., a waste management company, expands its scope of business to recycle liquids that can be turned into fuel-grade ethanol, demonstrating the socially responsible approach of the company.

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

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

True

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

True

An exchange process is an activity in which two or more parties give something of value to each other to satisfy perceived needs. True False

True

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

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 False

True

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

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. True False

True

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

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 False

True

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

True

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

True

In addition to planning for change, marketers must set goals to meet the concerns of customers, employees, shareholders, and members of the general public. True False

True

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

True

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

True

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

True

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

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. False True

True

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

True

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

True

Not-for-profit organizations are generally less concerned with the bottom line than for-profit organizations.

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 False

True

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

True

Product-oriented rather than customer-oriented management endangers the future growth of an organization. True False

True

T/F A negative cash discount is an attempt by sellers to improve their liquidity positions, reduce their bad-debt losses, and cut collection expenses.

True

T/F A product line is a series of related products offered by one company.

True

T/F A selling agent is an ideal marketing channel for weakly financed, production-oriented firms.

True

T/F A syndicated service can also be considered a type of limited-service research supplier.

True

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

True

T/F 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

T/F After developing strategies of the campaign, marketers focus on specific tactics such as recruiting influencers, setting up contests, or offering coupons and discounts.

True

T/F 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

T/F An IMC strategy helps marketers create a unified personality for the product by choosing the right elements from the promotional mix to send the message.

True

T/F An enterprise resource planning (ERP) system is a software system that consolidates data from among a firm's various business units.

True

T/F As consumers devote little effort to convenience product purchase decisions, marketers must strive to make these exchanges as simple as possible.

True

T/F Benchmarking is the method of measuring quality by comparing performance against industry leaders.

True

T/F Brand insistence, the ultimate stage in brand loyalty, leads consumers to refuse alternatives and to search extensively for the desired merchandise.

True

T/F 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 consum

True

T/F Buyers in metropolitan statistical areas exhibit social and economic homogeneity.

True

T/F Buyers of a particular new car model are being offered zero-percent financing. This is an example of a promotional allowance.

True

T/F Cable advertising offers marketers access to more narrowly defined target audiences than other broadcast media can provide.

True

T/F Communities created by social media help steer consumers toward new brands and products.

True

T/F Companies test market their new-product offerings to measure consumer reactions under normal competitive conditions.

True

T/F Concept testing is a marketing research project that attempts to measure consumer attitudes and perceptions about the new product idea.

True

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

True

T/F Cooperative advertising campaigns originated to take advantage of the media's practice of offering lower rates to local advertisers than to national ones.

True

T/F 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

T/F Direct mail and advertising campaigns are effective in identifying prospective customers.

True

T/F Direct selling is an important option for goods requiring extensive demonstrations in persuading customers to buy.

True

T/F During the introductory stage of the product lifecycle, the public becomes acquainted with the item's merits and begins to accept it.

True

T/F Economic theory attempts to derive correct equilibrium prices in the marketplace by comparing supply and demand.

True

T/F Exporters often set standard worldwide prices, regardless of their target markets.

True

T/F Firms that practice homeshoring experience the benefit of reduction in the use of energy and other natural resources thereby decreasing their impact on the environment.

True

T/F Firms that price their products differently for online purchases face the risk of cannibalization.

True

T/F Firms using a competitive pricing strategy try to reduce the emphasis on price competition by matching other firms' prices and concentrating their own marketing efforts on the product, distribution, and promotion elements of the marketing mix.

True

T/F Firms with large shares accumulate greater operating experience and lower overall costs relative to competitors with smaller market shares.

True

T/F For consumers to pay prices either above or below what they consider the going rate, they must be convinced they are receiving fair value for their money.

True

T/F Full-cost pricing allows the marketer to recover all costs plus the amount added as a profit margin.

True

T/F Generation X is very family-oriented, well educated, and optimistic.

True

T/F In an attempt to simplify pricing structures, sellers will quote uniform prices that, in effect, spread the total shipping costs across all the customers.

True

T/F In an oligopolistic market, high start-up costs form significant barriers to entry for new competitors.

True

T/F In piggyback operations, highway trailers and containers ride on railroad flatcars, thus combining the long-haul capacity of the train with the door-to-door flexibility of the truck.

True

T/F In the case of shopping products, a store's name and reputation have considerable influence on people's buying behavior.

True

T/F Instituting a companywide code of ethics helps guide salespeople to ethical behavior in personal selling.

True

T/F Interactive advertising creates dialogue between marketers and individual shoppers, providing more materials at the user's request.

True

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

True

T/F Kelly is a dentist who knows that her patients are more likely to take home pens inscribed with her name and phone number instead of an ordinary business card. The inscribed pens distributed by Kelly for her practice represent specialty advertising.

True

T/F 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

T/F Maintaining an artificially low price for a period of time leads consumers to expect it as a customary feature of the product.

True

T/F 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

T/F Managers are responsible for communicating the goals of total quality management to all staff members.

True

T/F Marketers classify goods and services by considering the purchase patterns of the majority of buyers.

True

T/F Marketing researchers must remember to direct their reports toward management and not to other researchers.

True

T/F Markups are determined partly on the basis of marketers' judgments of the amounts that consumers will pay for a product.

True

T/F Modern accounting procedures provide managers with a clear understanding of cost structures, so managers can readily comprehend the supply side of the pricing equation.

True

T/F Most companies set prices using competitive pricing as their primary pricing strategy.

True

T/F Most online shoppers who start with search engines do so because these provide the greatest amount of information about products and companies.

True

T/F Most states supplement federal legislation with their own unfair-trade laws, which require sellers to maintain minimum prices for comparable merchandise.

True

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

True

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

True

T/F Odd pricing originated as a way to force clerks to make change, thus serving as a cash-control device.

True

T/F Overall organizational objectives and more specific marketing objectives guide the development of pricing objectives, which in turn lead to the development and implementation of more specific pricing policies and procedures.

True

T/F Personal selling is more costly and time consuming compared to other types of promotion.

True

T/F Prestige objectives reflect marketers' recognition of the role of price in creating an overall image of the firm and its product offerings.

True

T/F Prestige pricing establishes a relatively high price to develop and maintain an image of quality and exclusiveness that appeals to status-conscious consumers.

True

T/F Primary metropolitan statistical areas (PMSAs) are identified within areas of 1-million-plus populations.

True

T/F Product liability insurance has become an essential element for any new or existing product strategy.

True

T/F Production of private-label goods helps manufacturers reach additional market segments.

True

T/F Sales of a product category continue to grow during the early part of the maturity stage but—eventually reach a plateau as the backlog of potential customers dwindles.

True

T/F Sales offices located closer to the firm's customers help limit selling costs and support effective customer service.

True

T/F Shippers that transport goods via water carriers incur very low costs compared with the rates for other transportation modes.

True

T/F Specialty stores typically carry convenience and shopping goods.

True

T/F Tangible goods and intangible services both intend to satisfy consumer wants and needs, but the marketing efforts supporting them may be vastly different.

True

T/F Telemarketing is the most frequently used form of direct marketing and provides high returns to the marketers on their expenditures.

True

T/F Test marketing a new product is expensive and communicates company plans to competitors prior to its full-scale introduction. Group of answer choices

True

T/F The advertiser's challenge in interactive advertising is to gain and hold consumer interest in an environment where these individuals control what they want to see.

True

T/F The consumer adoption process spans from awareness of a product to its acceptance or rejection after a purchase has been made.

True

T/F The executive summary of a social media marketing plan is said to be effective when it gives compelling reasons as to why the plan should be adopted.

True

T/F The first presentation being made to a potential customer is likely to be more detailed than that used for an existing customer.

True

T/F The goal of an ad is to improve the likelihood that a customer will buy a particular good or service.

True

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

True

T/F The only real difference among the multitude of cost-plus pricing techniques is the relative sophistication of the costing procedures employed.

True

T/F The right blend of product lines and individual products allows a firm to maximize sales opportunities within the limitations of its resources.

True

T/F The success of any IMC program depends on identifying the members of an audience and understanding what they want.

True

T/F The target market for a product is the specific segment of consumers most likely to purchase that particular product.

True

T/F The ticket reselling market is both highly fragmented and susceptible to fraud and distorted pricing.

True

T/F The width of a product mix refers to the number of product lines the firm offers.

True

T/F Tide detergent is available in a variety of formulations but Procter and Gamble should be concerned that any addition to the Tide detergent product line could cannibalize sales of existing products.​

True

T/F Traditional brick-and-mortar stores such as Macy's have recently closed stores due to the growing trend of Internet shopping and changing consumer behavior who visit malls on a less frequent basis.​

True

T/F Traditional economic theory considers both costs and demand in determining an equilibrium price.

True

T/F Truck wholesalers make regular deliveries to retailers and perform collection and promotion functions.

True

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

True

T/F Using AIO statements allows marketing researchers to develop lifestyle profiles.

True

T/F Variety stores offer an extensive range and assortment of low-price merchandise.

True

T/F When a beverage company acquires a water purification plant, it is an example of backward integration of distribution channels.

True

T/F When the list price of a product is discounted by the value of a used product that is turned in at the time of sale, the transaction is called a sale with a trade-in.

True

T/F While many firms claim to have adopted the marketing concept, there is little evidence that a strong market orientation contributes to market success and overall performance

True

T/F ​Advertisers like radio for its ability to reach people while they drive because they are a captive audience.

True

T/F ​Online forums are a source of information exchange and can take the form of blogs, a classified ad directory, or a library of information.

True

T/FD Social media marketing content focuses on its audience rather than promoting the company outright.

True

Targeting consumers in specific global markets represents a challenge. True False

True

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

True

The United States is becoming culturally more diverse and subculture populations are rising. False True

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. False True

True

The choice between pleasing all consumers and remaining profitable—thus surviving—defines one of the most difficult dilemmas facing business. True False

True

The cultural diversity of the United States results in various submarkets, each with unique values, cultural characteristics, purchasing behaviors, and consumer preferences. False True

True

The deregulation movement has ended total monopoly protection for most utilities. True False

True

The marketing era is defined by a shift in focus from products and sales to satisfying a consumer's needs. True False

True

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

True

The three largest and fastest-growing U.S. ethnic subcultures are Hispanic Americans, African Americans, and Asian Americans. True False

True

A positioning strategy can be developed by:

Understanding the selected target market and developing the marketing mix to appeal to the target marke

Fresh, a company that manufactures personal care products such as soaps and shampoos, decides to produce and market dishwashing liquid and cleaners. This decision of the company represents:

an increase in product mix width

As marketers we use a positioning statement as:

an internal strategic document to clarify our value proposition

A(n) _____ is an online journal for an individual or organization.

blog

A _____ is a specially packaged item that gives the purchaser a larger quantity at regular price.

bonus pack

Julia noticed that her favorite shampoo is being packaged in a slightly larger bottle for the same price as the standard size bottle. This is an example of a:

bonus pack.

Visuals, people, and slogans are all an example of _______________________. brand associations brand personality brand principle brand extensions

brand associations

A company's ability to market a product successfully at a higher price compared to its competitors is directly related to its: product relevance. brand equity. market share. market capitalization.

brand equity.

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 _____. line extension brand extension brand reinforcement line engagement

brand extension

A _____ is a symbol or a pictorial design that distinguishes a product from its competitors' offerings. category tag brand dress water mark brand mark

brand mark

Because people relate to organizations as if they are people it is important to define an organizations: brand principle brand associations brand personality brand extensions

brand personality

Brand Drivers are made up of:

brand principle, personality and associations

A company has introduced a new product in the market. The company distributes free samples of this product to people so that they can try it. This product is at the _____ stage of brand loyalty. brand insistence brand preference brand association brand recognition

brand recognition

At the _____ stage of brand loyalty, marketers use advertising as a means to increase consumer awareness of a brand. brand preference brand insistence brand recognition brand equity

brand recognition

The pricing technique used to determine the number of products that must be sold at a specified price to generate enough revenue to cover total cost is known as _____ analysis.

breakeven

A Swedish telephone maker transfers phones costing $10 to produce to its U.S. subsidiary for a transfer price of $20. The U.S. subsidiary sells the phones to retailers for $25 each and spends $5 per phone in promotion and distribution expense. The U.S. subsidiary:

breaks even on the deal because it spends all its revenues

The overview of a social media marketing plan:

briefly describes the overall market conditions, and the firm's current position in the social media.

interactive marketing

buyer-seller communications in which the customer controls the amount of type of information received from a marketer is called...

When Sara went to a convenience store to get her weekly grocery shopping done, she got a free sample of a new cereal that had just been introduced in the market. This information indicates that the cereal manufacturer is using _____ to promote its product.

direct sampling

_____ are groups of retail outlets that operate under central ownership and management and handle the same product lines.

chain stores

The dominant and controlling member of a marketing channel is known as a:

channel captain

The imbalance among a person's knowledge, beliefs, and attitudes that occurs after an action or decision is called _____

cognitive dissonance

A _____ contains around 10 to 30 retail stores with a branch of a local department store or some other large store as a primary tenant, and it serves 20,000 to 100,000 people in a trading area extending a few miles from its location.

community shopping center

The _____ section of a social media marketing plan examines and evaluates the competitors' presence in social media, including the platforms and tools they select and their overall effectiveness.

competitive analysis

Julia is developing new promotional strategies for the services offered by her firm and is focusing on finding information about her firm's competitors. She is looking through published sources, as well as reviewing her competitors' advertising. According to this information, Julia is gathering _____. situational data competitor forecast competitive intelligence progressive information

competitive intelligence

The tagline used by Walmart, "Save money. Live better" is an example of a positioning strategy that is based on _____. quality product users attributes competitors

competitors

American Express, a large firm with many financial products, recently introduced two new credit cards designed for very specific markets: The Knot, for engaged couples, and The Nest, for newlyweds. This is an example of _____ marketing. undifferentiated concentrated societal mass

concentrated

Mall intercepts are a means of obtaining detailed information about consumers by: handing out detailed questionnaires to customers to be mailed back to the researchers. conducting interviews inside retail shopping centers. recording the purchases made by a customer at a merchant outlet. tracking customer activity and purchases through video recording at shopping locations.

conducting interviews inside retail shopping centers.

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.

Meeting customer needs by listening to them, understanding their problems, paying attention to details, and following through after the sale is called _____ selling.

consultative

Wendy has a membership at Sam's Club and Costco and enjoys purchasing items in bulk to save money for her family. The stores are huge and are distinct in their appearance since they feature large aisles and commercial shelving. It's more like shopping in a working warehouse but Wendy loves searching for bargains and ​everyday staples such as paper towels and cleaning supplies. Sam's Club and Costco are examples of _____ retailers.

discount

Justin is the marketing director for Tire Rack and is responsible for working with their advertising agency and identifying the messages and means for communicating with customers. Justin's job involves the ______ strategy of the marketing mix. ​product ​promotion ​communication ​distribution

distribution

Big Martin Corporation uses its website to target customers and promote its products. Big Martin is engaged in:

e-marketing

Simply-Fyde Shopping's website has an online catalog with the details of the products on offer. When customers pick their choices from the list, the items are automatically populated into a(n):

electronic shopping cart

Products bought in response to unexpected and urgent needs are called _____

emergency goods

The term service _____ refers to the point at which the customer and service provider interact.

encounter

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.: ​alternative ​purchase ​acceptance ​evoked

evoked

The number of alternatives a consumer actually considers in making a purchase decision is referred to as the _____. evoked set evaluative criteria problem space postpurchase evaluation

evoked set

The number of alternatives the consumer actually considers in the purchasing decision is called the _____.

evoked set

During the search step of the consumer decision process, the consumer: gathers information about the attainment of a desired state of affairs. realizes that it is time to make a change from the present situation. begins to notice favorable word-of-mouth communication about the product. develops a set of evaluative criteria to guide the purchase decision.

gathers information about the attainment of a desired state of affairs.

The _____ is the blending of the four strategy elements—product, distribution, promotion, and price—to fit the needs and preferences of a specific target market.

marketing mix

Marketers acknowledge a broader conception of product; they realize that people buy want satisfaction. Using this broad concept, a television set is a(n):

means of providing entertainment

Marketers use key performance indicators to:

measure the success of a marketing initiative.

General product categories, specific product lines, specific products within lines, and the depth and width of its assortment are factors considered by retailers while developing their:

merchandising strategy

The Fayetteville-Springdale-Rogers region of Arkansas has approximately 340,000 people. Fayetteville is an urban center and it alone has a population of 60,000. The Fayetteville-Springdale-Rogers region would be classified as a: consolidated metropolitan statistical area (CMSA). primary metropolitan region (PMR). metropolitan statistical area (MSA). micropolitan statistical area (µSA).

metropolitan statistical area (MSA).

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: supervisory management, such as shift managers and night auditors. middle management, such as the merchandising and advertising managers. top management, such as the owner. store managers.

middle management, such as the merchandising and advertising managers.

The basic objectives or goals of an organization are derived from its: supervisory management strategy. supervisory management strategy mission statement. operational plans. standard operating procedures.

mission statement.

Direct-response retailing that runs promotions on cable TV networks to sell merchandise through telephone orders is called:

home shopping

When the same branded product is carried in competing retail pharmacies, discount houses, department stores, and convenience stores, the marketing channel conflict that can result is referred to as:

horizontal conflict.

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

ideal

Before beginning the market segmentation process, a firm should: forecast total market potential. select target market segments. identify bases for segmenting markets. forecast market share.

identify bases for segmenting markets.

Products purchased on the spur of the moment are called _____.

impulse goods

The Lands' End catalog provides a toll-free number for customers to call and place orders. The staff is pleasant and knowledgeable and will place orders and answer questions. This is an example of a(n):

inbound telemarketing effort

First-line sales managers need very strong sales skills, while sales managers at higher organizational levels need more _____ skills.

managerial

The importance of selling agents in many markets has declined because:

manufacturers want better control of their marketing programs than selling agents allow.

A _____ strategy concentrates on finding new markets for existing products.

market development

A _____ pricing strategy makes more flexible arrangements, compared to other strategies, to set prices according to local marketplace conditions.

market-differentiated

A(n) _____ takes a marketing information system a step further and allows managers to explore and connect such varying information as the state of the market, consumer behavior, sales forecasts, competitors' actions, and environmental changes.

marketing decision support system

An organization that regularly provides a standardized set of data on a periodic basis to its subscribers is called a ______. market simulation firm syndicated service full-service research supplier supplier relationship management company

syndicated service

Redline is a popular men's clothing brand in the United States. As a part of the firm's new online marketing campaign, the marketing team at Redline has been asked to prepare a synopsis of the overall market condition, including the current position of the firm on social media. The marketing team is most likely to document its findings in the _____ of the marketing plan.

overview

An example of a firm's strength discovered by a SWOT analysis might be: a narrow current product line. existing government policies favoring the industry. ownership of valuable patents. changing buyer tastes in the marketplace.

ownership of valuable patents.

Rachel, an advertising executive, shops for clothing at a trendy store in town. The sales clerk shows her the latest styles in bright prints and bold colors. Although these are the styles worn at her office, she rejects them and purchases traditionally formal clothes in neutrals and black. Rachel's decision is most likely driven by _____ factors. interpersonal impersonal institutional personal

personal

A _____ is the amount by which the average transportation charge exceeds the actual cost of shipping.

phantom freight

Business strategist Michael E. Porter identified five competitive forces that influence _____ in a model called Porter's Five Forces. corporate social responsibility consumer behavior sustainable development planning strategies

planning strategies

marketing planning

process involves implementing planing activities devoted to achieving marketing objectives

strategic planning

process of determining an organization's primary objectives and adopting courses of actions that will achieve these objectives are known as...

A bundle of physical, service, and symbolic attributes designed to satisfy a customer's wants and needs is called a(n) _____.

product

A bundle of physical, service, and symbolic attributes designed to satisfy a customer's wants and needs is referred to as a(n) _____.

product

A newly opened spa uses a print ad to promote the service packages it offers to customers. This is an example of _____ advertising.

product

The latest ad of Crest toothpaste says "Crest is a cavity fighter." This is an example of a positioning strategy based on:

product application

A series of related products offered by one company is called a(n) _____

product line

The assortment of product lines and individual product offerings a company sells is called the _____

product mix

Newsletters, catalogs, and invitations to company-sponsored events are most closely associated with the marketing mix activity of: product pricing. product promotion. product development. product distribution.

product promotion.

The PIMS project revealed that the two most important factors influencing profitability were:

product quality and market share

Starbucks recently faced criticism for changing the way consumers could earn free food and beverage in its loyalty program. Originally, consumers could earn 1 star for each purchase - regardless of dollar value spent. However, the new program ties the star benefit to the dollar amount spent by a customer - rewarding those who spend more with more points. The Star program is frequently utilized by Starbucks to entice its members to return to the outlet. The company utilizes e-mail and in-app promotions to maintain an loyal following. What type of segmentation is Starbucks utilizing with its Star rewards program?

product-related

When marketers apply quality control standards, they are: engaging in the process of exchange. reducing the need for purchasers to inspect each item they purchase. determining the amount an individual will be allowed to buy on credit. developing channels of distribution for a product.

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

transaction-based marketing

refers to buyer and seller exchanges characterized by limited communications and little or no ongoing relationships between the parties

For the purpose of transfer pricing, any part of the organization to which revenue and controllable costs can be assigned, such as a department, is referred to as a:

sales department.

The overall direction and control of the personal selling effort is in the hands of a firm's:

sales managers.

A group of people chosen from a defined population to be survey respondents or research participants is called a: sample. community. population. segment.

sample

A firm is most likely to opt for a family brand to market its products when the products are: sold only to a single large retail chain to protect the manufacturer's reputation. similar in quality and are closely related to one another. sold in different geographic markets. sufficiently different so as not to compete directly with each other.

similar in quality and are closely related to one another.

A company manufacturing hair care products introduced a new shampoo with keratin to enhance hair quality and reduce hair breakage. To ensure the right spot for the shampoo bottles on the supermarket shelves, the company paid retailers a substantial amount of money to stock the product. The money paid is called:

slotting fees

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. expensive furnishings. luxury cars, personalized gifts and power tools. health care products and insurance policies.

small home appliances such as coffee makers and toasters.

The marketing team at Neptune Networks has recently rolled out its social media marketing plan, and is trying to measure the impact of its campaign by tracking the social media platforms that were used for the purpose. The marketing team is using a few entry-level tools to track the blogs, the online communities, and also the firm's Facebook and Twitter accounts. This process of tracking and evaluating a firm's SMM initiatives is known as _____.

social media monitoring

A(n) _____ is a software that enables users to communicate with each other online.

social media tool

Badoo is a global, multilingual, social media platform that provides an opportunity for its members to meet new people in their locality, share daily activities, and post opinions on different topics. Badoo is a type of _____.

social networking site

Kraft Mac & Cheese first hit the shelves in 1937 and remains a favorite product for families. The product has undergone changes in formulation as well as packaging over the years and Kraft recently reformulated the product so it does not contain any artificial ingredients. Sales of Kraft Mac & Cheese in the familiar blue box continue to be strong and help Kraft fund other products since it generates such a strong cash flow. Kraft continues to invest in its Mac & Cheese brand through both research and development as well as promotional activities. It's likely that Kraft views Mac & Cheese as a ______ according the BCG matrix. ​quotation mark ​star ​cash cow ​dog

star

The relative position of an individual member in a group is called _____. dyad stereotype status norm

status

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. operational short-term strategic tactical

strategic

tactical planning

strategic planning is complemented by ___ which guides the implementation of activities specified in the strategic plan

The limited occasions when the key requirements of a market and the particular competencies of a firm best fit together are referred to as: threats. strategic windows. question marks. barriers to entry.

strategic windows.

With reference to the business products classification system, which of the following group of products typically has a long distribution channel?

supplies

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

syndicated service

A consultant has given you a list of questions to help determine a competitive strategy for your online editing business. Which of the following questions were most likely included on the list? ​How should we compete in the editing business? ​Should we compete in the student market, or in the professional writing market? ​Should we compete in the editing business? ​Why should we compete in the editing business?

​- How should we compete in the editing business? ​- Should we compete in the student market, or in the professional writing market? ​- Should we compete in the editing business?

​It's not only the government that regulates what toys your store can sell to children. Non-governmental regulatory forces include:

​- Self-regulatory organizations - Public consumer interest groups focused on protecting kids ​- Better Business Bureau ​- Private consumer interest groups focused on protecting kids

When you open an organic food store, you intend to follow a second mover strategy. Choose the benefit(s) of this approach. ​You can be the first to enter this market. ​You may be able to improve upon the innovations of first movers. ​You can promote this strategy in your advertising. ​Second movers can charge less than first movers. ​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 can observe and avoid the mistakes of Whole Foods and other innovative retailers.

Celwyn works for a cosmetics company known for its anti-animal testing policies. Recently, however, a reputable newspaper reported that the company had tested their newest line of blush on rabbits. ​ Which of the following statements is most likely true about the company? ​The company's relevance will increase as a result of this news report. ​The company's esteem will decrease as a result of this news report. ​The company's customers will become even more loyal. ​The company's esteem will increase as a result of the coverage by a reputable newspaper. ​The company will become less differentiated from other cosmetics brands.

​The company's esteem will decrease as a result of this news report.

You want to buy a fleet of company cars. Because this will be a high-involvement purchase, you are likely to:

​Spend time at every step of the consumer decision process ​Spend time talking to industry colleagues who have bought company cars ​Spend time reading online reviews of different cars

You are pleased to learn that the firm you've just joined has begun a sustainability initiative. In fact, one of your first assignments is to write a memo describing the key dimensions of such an effort. But when you submit a draft of the memo to your supervisor, she points out at least one significant error. Identify the sentence(s) with a mistake. Sustainability must permeate a firm's corporate strategy from the bottom up. ​Sustainability must permeate a firm's corporate strategy from the top down. ​In order to minimize environmental impacts, successful sustainability efforts usually allow for some performance reductions. ​Successful sustainability efforts minimize environmental impacts while maximizing performance. ​Sustainability is basically a cost containment strategy.

​Sustainability must permeate a firm's corporate strategy from the top down. ​In order to minimize environmental impacts, successful sustainability efforts usually allow for some performance reductions.

​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 industry deregulation phase ​The antimonopoly phase ​The consumer protection phase ​The protecting consumers phase ​The cyberspace phase

​The antimonopoly phase

Southwest Airlines and Carnival Cruises collaborated to market "fly and cruise" specials from major cities to Carnival's ports in New Orleans, Galveston and Miami. The collaboration enabled both firms to share the cost of the campaign. This strategy is known as:

​cross-promotion

Casanova Supplies specializes in pharmaceuticals, home and office cleaning supplies, bath essentials, and pet care. The pharmaceutical line, which has five products, is the company's newest line. The home and office line has 12 unique products; the bath essentials line has 10 products; and the pet care line has seven products.

​The company has a product mix width of 4

To remain competitive, marketers must accurately gauge their customers and adapt to changing consumer sentiment. Sometimes this adaptation calls for repositioning a product or service. Why might a product or service be repositioned?​

​The company is aiming for a greater share of the current market.

Assume that a firm would like to expand its product line. A complete expansion would cost $100 million, but the firm can only raise $75 million in financing. This is best classified as a(n): instance of leverage. weakness. threat. opportunity.

weakness

A _____ is a channel intermediary that takes title to goods it handles and then distributes those goods to retailers, other distributors, or B2B customers.

wholesaler

A(n) _____ is an intermediary that takes title to the goods it handles and then distributes these goods to retailers, other distributors, or sometimes end consumers.

wholesaler

The traditional channel for consumer goods proceeds from producer to:

wholesaler to retailer to user.

Channel intermediaries that take title to goods they handle and then distribute these goods to retailers, or business or B2B customers are known as _____.

wholesalers

Syncratic role is seen when partners independently make an equal number of purchase decisions.

False

buzz marketing

"word-of-mouth" advertising that has grown in effectiveness with the advent of the Internet is called...

You work for a television network that needs to advertise a new fall season show. Because of the show's content, you want to market to college students and young professionals. You decide that since the show is going to be introduced in October of the following year, it would be good to start with billboards and ad placements on buses, bus shelters, trains, and in subway stations. You know that new shows typically debut in the fall, so you do some research and notice that your rival network also has a new show lined up for the fall. You want to make sure that you are not targeting the same markets. By the spring of the following year, you are going to introduce television commercials, social marketing, and online ads. By this point, national newspapers are impressed with the show and write op-ed pieces about the new show. ​ ​Which of the following aspects of media scheduling is missing from the scenario?

...

Which of the following products is most likely to have a short distribution channel? Oil rig Jet engine Farm produce Office stationery

... Oil rig? ... Jet Engine?

A 5 percent increase in the price of milk that results in a 2 percent decrease in the quantity of milk demanded yields a price elasticity of demand for milk of:

0.4

Assume that the per unit price of a product is $100, total fixed costs are $50,000, and variable costs are $70 per unit. Find the breakeven point in units.

50,000 / (100-70) = 1,667 units

According to the textbook, the U.S. service sector accounts for nearly _____ percent of the economy as the country shifts from a goods-producing economy to a service-producing economy.​

80%

Which of the following statements is true of warehouse retailers?

???? They send direct mail to their customers and sell the advertised goods from showrooms that display samples.

Which of the following is an example of indirect competition?

A Sony home entertainment system competing with a Jacuzzi hot tub

Which of the following comes closest to providing pure service?

A fitness gym

Which of the following is a combination of person, cause, and organization marketing? Tiger Woods' endorsement of Nike, a sports company and Accenture, a consulting company The Nobel Peace Prize for Al Gore for his work on global warming UNICEF's work to improve the living conditions of children across the world Angelina Jolie's role as a UN Goodwill Ambassador for refugees

Angelina Jolie's role as a UN Goodwill Ambassador for refugees

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

Applicability

Financial Services Inc. had call centers in Malaysia where employees worked in shifts to cater to American customers at all times. However, after receiving persistent complaints about unsatisfactory service quality and increasing inefficiency, the organization decided to shift the call centers to the United States again. This is an example of:

Backshoring

Which of the following products is most likely to have a long distribution channel?

Bars of soap

​According to Maslow's hierarchy, an art enthusiast joining an art appreciation society would be satisfying which level of her consumer needs?

Belongingness

_____ is a psychological concept that refers to the human tendency to perceive a complete picture from an incomplete stimulus.

Closure

Which of the following best describes the activity of promotion? Making new products available to meet consumer demand Finding a convenient location to sell the products in Maintaining a high level of regulation in production Communicating the value delivered by marketing mix

Communicating the value delivered by marketing mix

Richard generally frequented Brewz, a coffeehouse chain, when he was in Florida. However, when his company shifted him to China, he found that the Brewz in Shanghai does not offer the same quality service as their coffee houses in Florida. Which of the following best explains this differential perception in service quality?

Companies cannot easily standardize services.

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

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

False

​You just opened a retail pet supply store, and have decided to use a penetration pricing strategy. A potential investor, however, is dismayed by your decision. To win her over, which of the following points should you make? Demand for pet supplies is highly elastic. ​Market-minus pricing would be inappropriate in the pet supply market. ​A new store needs to focus on attracting shoppers. ​The new store's introductory prices can be changed later in its life cycle. ​Demand for pet supplies is highly inelastic.

Demand for pet supplies is highly elastic. ​A new store needs to focus on attracting shoppers. ​The new store's introductory prices can be changed later in its life cycle.

Which of the following measures is taken by Internet companies to indicate their promise to disclose how they collect personal data and what they do with the customer information?

Displaying the TRUSTe logo on their websites

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?

Distribution and exchange

SWOT analysis refers to an examination of a firm that is limited to the variables of its stability, work ethic, organizational structure, and technological expertise. False True

False

Which of the following is most likely to be a logical starting point in identifying the marketing problem? Ascertaining the budget and logistical limits that the problem warrants Determining the computational linguistics of the problem Simulating a market research based on formulated hypotheses Evaluating the firm's target market and marketing mix elements

Evaluating the firm's target market and marketing mix elements

According to Maslow's hierarchy of needs, the desire to accomplish, achieve, and command respect is a safety need. False True

False

Buying a Spotify Membership generates ownership utility; however, buying a concert ticket does not. True False

False

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

False

Customers who cannot afford to pay cash for purchases made directly from the manufacturer can buy those products from a wholesale intermediary who grants them credit for the purchase. Which of the following marketing functions is being performed by the wholesaler in this situation by granting credit?

Financing

You work on the assembly line at Ford Motor Company. Your line produces the hot selling, Ford Focus hybrid. Your line creates _________ utility for Ford's customers. ​Product ​Form ​Value ​Place Ownership

Form

_____ involves marketing philosophies, policies, procedures, and actions whose primary objective is the enhancement of society. Social responsibility Customer orientation Ethics Relationship marketing

Social responsibility

Bubbles, a major player in the beverage industry, is currently negotiating the purchase of a purification plant and a bottling unit. This is an important investment for Bubbles and the products have been designed specifically for them. Which of the following types of products is being purchased by Bubbles?

Installations

Frito Lay is owned by Pepsi and has a variety of billion dollar brands such as Doritos, Cheetos, Lays, and Ruffles.​ These famous snack brands are available in a wide variety of sizes at almost every store location and vending center - from gas stations, to dollar stores, grocery stores, drug stores and super centers. Which level of distribution intensity does Frito Lay utilize?

Intensive

Which of the following statements is most likely to be true about a convenience retailer?

It appeals to customers by having an accessible location, rapid checkout, extended store hours, and adequate parking.

Which of the following is true of an IMC strategy?

It begins with consumer wants or needs

Which of the following is true of relationship marketing?

It believes in maintaining existing customers.

Which of the following is a disadvantage of using public relations as a promotional strategy?

It involves much effort directed towards non-marketing oriented goals.

Which of the following is a disadvantage of sales promotion as a promotional strategy?

It is difficult to differentiate from competitors' efforts

Which of the following is true of personal selling?

It is interpersonal and basic to any enterprise

Which of the following statements is true of tactical planning? It is used to generate weekly plans, unit budgets, departmental rules and procedures. It is designed to determine annual budgets and long-range strategic goals. It is conducted exclusively by the supervisory personnel. It is performed to substitute the strategic planning process in large organizations.

It is used to generate weekly plans, unit budgets, departmental rules and procedures.

Procter & Gamble has over 50 leadership brands and produces many products that are sold worldwide. Which of the following is most likely to be true in the event of the company adding a new and different product in its household care category?

It would increase P&G's product mix length

_____ are an outcropping of banner ads that appear on the results page of a search and are specific to the searched term.

Keyword ads

More than 90 percent of cereal is consumed at breakfast, but ads for Kellogg's Cracklin' Oat Bran say that it tastes like oatmeal cookies and makes "a great snack anytime." Kellogg's is implementing a strategy of _____ with this product.

Market Penetration

Dali stationery and office supplies is a market leader in China. The company wants to expand its business and is setting up retail chains in other Asian countries. Which of the following new-product development strategies is being used by the company in the above scenario?

Market development strategy

Which of the following serves as a source of internal data for a firm involved in marketing research? Business and trade magazines Census data Marketing cost analysis Syndicated service firm reports

Marketing cost analysis

An inner state that directs a person toward the goal of satisfying a need is a(n) _____.

Motive

​Oscar Mayer has recently developed a new snack product that's targeted to kids and young adults as a healthy, protein-based after-school or pre-dinner snack. They expect the product to complement their Lunchables product line and appeal to teen-age or college-age consumers who think of Lunchables as just for younger kids. In order to promote product trial and subsequent adoption, the company plans to use a relatively low entry price compared to the competition. What type of pricing strategy does Oscar Mayer plan to utilize?

Penetration

A(n) _____ is an imbalance between a consumer's actual and desired states.

Need

Which of the following types of personal selling relies on lists of family members and friends of the salesperson who organizes a gathering of potential customers for an in-home demonstration of products?

Network marketing

Which of the following entities is responsible for all phases of a development project, including screening decisions, developing product specifications, and coordinating product testing?

New-product department

Which of the following statements is correct regarding not-for-profit organizations? The sole common factor between not-for-profit organizations and for-profit firms is the financial bottom line. Not-for-profit organizations hope to generate as much revenue as possible to support their causes. Not-for-profit organizations are all found in the public sector. Historically, not-for-profit firms have had more exact goals and marketing objectives than for-profit firms.

Not-for-profit organizations hope to generate as much revenue as possible to support their causes.

Which of the following is a characteristic of a corporate culture that encourages ethical behavior?

Open communication exists between employees and managers

A(n) _____ is a trendsetter who purchases new products before others in a group and then influences others in their purchases.

Opinion leader

A salesperson of a beer company determines that a retail store has only 10 cases of beer left in stock when it normally carries an inventory of 60. The salesperson informs the store manager of the inventory situation. Which of the following sales tasks is being performed by this salesperson?

Order processing

A university sells customized sweatshirts, pullovers, and jerseys to its students and staff. This is an example of _____. Group of answer choices

Organization marketing

Jennifer is looking for a wedding present for her fiance and is considering buying him a watch. She likes luxury items and is willing to spend between $4,000 and $10,000 on the gift. She visits several jewelry stores and realizes that the prices are the same for Rolex and Philippe Patek brand watches and each store tells her these brands are never discounted. What type of pricing objective is utilized by Rolex and Philippe Patek?​

Prestige

When a manufacturer of toys uses its own fleet of trucks for transporting its products to retail stores, it is using _____ carriers.

Private

A point-of-difference can be useful in determining a positioning strategy and can best be described as: Product benefits that customers want or need that are not unique to your brand Product benefits that your brand provides but customers don't want or need. Product benefits your brand does well that customers want or need but competitors cannot match you on Product benefits that customers want or need that your brand doesn't provide

Product benefits your brand does well that customers want or need but competitors cannot match you on

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 _____. Sherman Antitrust Act Robinson-Patman Act Celler-Kefauver Act Wheeler-Lea Act

Robinson-Patman Act

A company produces a high-quality product, with a maximum monthly output of 10,000 units. Production levels are constant and the company relies on its marketing department to find customers for its output. This approach is consistent with which era in marketing history? Production era Relationship era Marketing era Sales era

Sales era

Which of the following sales promotion techniques produces a higher response rate than most other promotions?

Sampling

Motels and luxury hotels cater to the same want satisfaction-a place to stay. However, their respective guests have considerably different expectations of service. Which of the following characteristics of services best represents these different expectations in service?

Service standards show wide variations

Christopher who is a hair stylist owns Curlz, the best salon in Los Angeles. The clients swear by Christopher, and brides and bridesmaids flock to him for all weddings in LA. Christopher's name has become synonymous with the service at Curlz. Which of the following characteristics of services best explains this association?

Services are inseparable from the service providers.

Which of the following statements reflects Carla's interpersonal determinants concerning her purchase of an Apple computer? She identifies with the brand and periodically purchases new Apple products. She perceives that Apple offers the best customer service though her family and friends do not share this opinion. She believes you get what you pay for when purchasing products. She makes purchases to satisfy the expectations of her family members who insist on buying Apple products.

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

You have worked in marketing for over twenty years, and you have seen the discipline and the environment it operates in change dramatically over that period of time. However, you believe the marketing environment in the 21st Century is changing at a pace faster than you have ever witnessed.Which of the following statements is TRUE about the marketing environment in the 21st Century?

The activities of the marketing organization must be broader in the 21st Century in order to avoid marketing myopia.

Casanova Supplies specializes in pharmaceuticals, home and office cleaning supplies, bath essentials, and pet care. The pharmaceutical line, which has five products, is the company's newest line. The home and office line has 12 unique products; the bath essentials line has 10 products; and the pet care line has seven products.Required:Which of the following statements is true about Casanova Supplies?​

The company has a product mix width of 4.

Which of the following will improve the quality of the presentation used for approaching a prospective customer?

Using precollected information for tailoring the presentation to match the customer's needs

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 eager to attract a tennis star to appear in the ads for your company's rackets. However, your boss reminds you that it can be very expensive to use celebrity testimonials. Which of the following points do you make to convince her to spend the money?

With a well-known star, our brand can achieve better recall. ​This approach can boost the believability of our racket's performance. ​This approach can improve our racket's brand recognition. ​A tennis star is likely to be a credible source of information for our product

​You work for an international women's clothing wholesaler. In the past, your firm has marketed mainly in Western Europe, using price to achieve either profitability or prestige objectives. But changing business conditions mean that you now need to focus on other pricing objectives. What conditions are likely to have changed? ​Your firm has become a price leader, able to establish international prices. ​You are expanding into parts of the world where your clothing designs are less sought after than in Western Europe. ​Currency fluctuations have become a problem in your key markets. ​ You are facing increased European competition. ​Your firm has become the lowest-cost supplier to most major customers.

You are expanding into parts of the world where your clothing designs are less sought after than in Western Europe. ​Currency fluctuations have become a problem in your key markets. ​ You are facing increased European competition.

The term marketing mix describes: a series of business decisions that aid in selling a product. the relationship between a firm's marketing strengths and its business weaknesses. a composite analysis of all environmental factors inside and outside the firm. a blend of the four strategic marketing elements to satisfy specific target markets.

a blend of the four strategic marketing elements to satisfy specific target markets.

Adecco systems has a website service which allows the company to interact with its suppliers and share all types of data related to e-marketing. This innovative website can be regarded as:

a private exchange

Joining a local bowling league for social interaction is an attempt to meet _____ needs. self-actualization safety physiological belongingness

belongingness

According to the BCG market share/market growth matrix, the SBU that produces strong cash flows which can be used to finance the growth of other SBUs is the: cash cow. dog. question mark. laggard.

cash cow.

According to the BCG market share/market growth matrix, the SBU that produces strong cash flows which can be used to finance the growth of other SBUs is the: laggard. dog. question mark. cash cow.

cash cow.

A _____ wholesaler performs most wholesaling functions except for financing and delivery.

cash-and-carry

Your company is looking to hire someone who will oversee a new product line. This individual will be responsible for ensuring that the products are meeting the needs of consumers and will engage in new product planning and development. Which of the following positions is your company hiring?​

category manager

Cecile is an avid cook and enjoys spending time in the kitchen as well as watching shows on the Food Network. She recently remodeled her kitchen and purchased new appliances. Since she enjoys cooking so much, Cecile purchased a commercial range from a local restaurant supply store and it features double ovens and 12 burners. Her contractor had to make some modifications to enhance the safety of this stove for use in her home but no other changes were needed. What type of product is the stove in the context of this example? ​consumer ​shopping ​convenience ​business

consumer

The postpurchase evaluation of the consumer decision process attempts to measure the: consumer satisfaction with the purchase. selling success experienced by the vendor. follow-up effectiveness of the firm. advertising influence on the purchase.

consumer satisfaction with the purchase.

The term "product positioning" refers to: consumers' perceptions of a product's attributes, uses, quality, as well as advantages and disadvantages relative to competing brands. a low cost market entry strategy in which two or more firms represent one another's complementary yet non-competing products in the markets. the process of developing entirely new products for new markets. the process of developing a trade dress for a new product.

consumers' perceptions of a product's attributes, uses, quality, as well as advantages and disadvantages relative to competing brands.

A VMS that coordinates channel activities through formal agreements among participants is called a(n) _____ marketing system.

contractual

A(n) _____ is a scientific investigation in which a researcher manipulates a test group and compares the results with those of another group that did not receive the experimental manipulations. controlled experiment trend analysis focus group interpretative research

controlled experiment

Casey's General Store is a popular ______-type retailer offering gasoline, snacks, extended store hours, and rapid checkout service.​

convenience

Which of the following is a type of nonprobability sample?

convenience

Goods and services consumers want to purchase frequently, immediately, and with minimal effort are called _____.

convenience products

At the _____ stage in the consumer adoption process, buyers consider the likely benefits of the product.

evaluation

_____ are the features a consumer considers in choosing among alternatives.

evaluation criteria

You work for a cell phone company, and for the last three years, the Elixir has been performing well. Many times, your marketing team has been able to revive the product and increase consumer demand. This time around, you are hesitant to invest any more resources into marketing the phone; however, you see some value in at least developing a campaign that reflects reminder advertising. ​ ​At which stage in the product life cycle is the Elixir?

decline stage

The most common method of market segmentation is: economic segmentation. psychographic segmentation. product based segmentation. demographic segmentation.

demographic segmentation.

Variations in each product a firm markets in its mix are referred to as the _____ of its product mix.

depth

relationship marketing

describes the current era in the history of marketing

Many government and organizational procurement departments do not pay set prices for their purchases. Instead, they:

determine the lowest prices available for items that meet specifications through competitive bidding.

After identifying a target market, a retailer must:

develop marketing strategies to attract chosen customers to its stores or websites

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: forecasting total market potential. observational analysis. marketing research. developing a market segment profile.

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

The first step of the marketing planning process involves: hiring a senior planner. establishing organizational objectives. formulating a marketing plan. writing the mission statement.

establishing organizational objectives.

When a product is unique or difficult to categorize, the thought process involved in a purchase decision is known as: extended problem solving. research analysis. limited problem solving. extensive buying analysis.

extended problem solving.

When a major pharmaceutical scandal shook people's belief in the Federal Drug Administration,the public relations department devised an IMC strategy to positively influence public perception. An evaluation of the effectiveness of the IMC strategy reported a positive change in the public perception of the government agency. In the context of the communication process, this change in perception represents _____.

feedback

The most expensive sales method overall is:

field selling, largely because of the travel costs of sales personnel

Marketers must constantly monitor their competitors' products, prices, distribution, and promotional efforts because: it will help prevent indirect competition. firms may need to adjust their marketing mix based on new competing products. it can lower a firm's command over the market price. competitors may be violating truth-in-advertising laws.

firms may need to adjust their marketing mix based on new competing products.

strategic alliances

for-profit organizations and not-for-profit organizations often form...

CoreLogix Inc., has segmented the market as per product usage rates. They have also developed the relevant profile for each of their segments. What would be the next logical step for them in this process of segmentation?

forecast market potential

Noel Pvt. Ltd. combines metal, rubber, and other components in the production of appliances. In doing so the company creates _____ utility. ownership form place time

form

A price quotation system that allows the buyer to deduct shipping expenses from the cost of purchases is known as _____ pricing.

freight absorbtion

​Technology is changing consumer behavior in a variety of ways such as the adoption of streaming services such as Netflix. Netflix faces increasing competition from Amazon and Hulu Plus as well as satellite and cable companies who offer video on demand. Netflix has experienced rapid adoption by consumers but the entrance of competition is creating challenges for Netflix to remain dominant. What stage of the product life cycle best describes Netflix?

growth

A(n) _____ is one with high levels of potential social or economic consequences.

high involvement purchase decision

_____ are major capital investments in the B2B market.

installations

By enabling the coordination of all promotional activities to produce a unified, customer-focused promotional message, e-marketing helps reach consumers through:

integrated marketing

Jorge plans to buy a car and discusses the purchase with his parents. Their influence on his buying decision is considered: institutional. personal. interpersonal. impersonal.

interpersonal

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 extended routinized variety seeking

limited

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

limited service research supplier

Development of individual offerings that appeal to different market segments while remaining closely related to the existing product line is referred to as _____

line extension

​Procter and Gamble offers several varieties of Tide liquid detergent for high efficiency washers. It recently added a "Sport" formulation plus Febreeze targeted to active consumers who have noticed that sports apparel such as dri-fit shirts are difficult to clean. The "Sport" formulation represents a(n):

line extension

Brandon is a sales manager and often is involved in recruiting new sales representatives to join the firm. He has been trained in conducting behavioral-based interviews so he can identify whether candidates possess the appropriate characteristics to be successful in a consultative sales position. Which of the following characteristics would MOST LIKELY be important to Brandon during his interviews?​

listening skills​

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.: switched over to less sustainable fuels. recognized its competitive constraints. made the best of a strategic window. applied a second-mover advantage.

made the best of a strategic window.

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

norms

The evaluative criteria used by consumers in the decision-making process may be:

objective facts or subjective opinions about the alternatives.

seller's market

occurs when buyers outnumber sellers or product supply

buyer's market

occurs when there are more sellers (or products) than buyers

Marketers can attempt to shape the outcome of the post purchase evaluation by: trying to get consumers to expand their evoked sets to include their product. offering personal assistance with any problem experienced with the product. attempting to convince consumers that a competing brand does not meet their criteria. helping consumers to identify potential problems or needs.

offering personal assistance with any problem experienced with the product.

Buyers and sellers often set purchase terms using negotiated contracts when:

only one supplier offers the desired product

The term 'bottom line' is a reference to: overall company profitability. a firm's social responsibility. the limits on marketing budgets. the ethical and social viability of marketing.

overall company profitability.

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? competitive political-legal social-cultural economic

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

In a(n) _____, firms evaluate their products and divisions to determine the strongest and weakest. market analysis portfolio analysis utilization analysis organizational appraisal

portfolio analysis

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

predictive intelligence

Specialty products are:

products with unique characteristics that cause buyers to prize those brands

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

reduce the threat of new entrants.

When Think Green, a not-for-profit organization, realizes that its campaign for a "go vegan" lifestyle has lost its steam, it decides to renew the campaign by holding an international culinary contest for the best vegan recipe. This is an example of _____ advertising.

reminder

Purchases that have substantial social or economic consequences:

represent high-involvement purchase decisions.

It is crucial for marketers to focus their marketing strategies on opinion leaders in a group as opinion leaders: limit their purchases to the products and services typical of the social class they belong to, rather than imitating the reference group. possess the highest purchasing power in a group. represent the only medium to carry information about products to general public. represent the trendsetters who purchase products before others in the group and then influence the buying decisions of other group members.

represent the trendsetters who purchase products before others in the group and then influence the buying decisions of other group members.

The 80/20 principle states that:

roughly 80 percent of total product sales come from 20 percent of customers.

A consumer problem solving behavior in which the consumer makes purchases ordinarily by choosing a preferred brand or one of a limited group of acceptable brands is called _____.

routinized response behavior

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 benefits sought distributive segmentation geographic segmentation segmentation by usage rates

segmentation by usage rates

_____ is a person's multifaceted picture of himself or herself.

self-concept

Intangible tasks that satisfy the needs of consumer and business users are called _____.

services

A private exchange is a secure website used by companies to:

share all types of data related to e-marketing with its suppliers.

Products consumers purchase after comparing competing offerings are called _____.

shopping products

Kelly is planning a spring break trip and checking the prices of hotels in Daytona, Florida. She visits the website Hotels.com to do a search and is also shown prices from several other travel websites. Hotels.com is utilizing ________ to allow its online shoppers to compare prices.​

showboats

A positioning (perceptual) map: is used primarily by companies utilizing undifferentiated marketing strategies. outlines how to introduce a new product to the marketplace. can be used only for already successful products in the market. shows how consumers view a product relative to competitive products.

shows how consumers view a product relative to competitive products.

Which of the following products would most likely have an inelastic demand curve?​

​HP genuine ink for an HP printer

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

Stefan is the manager of a Chili's restaurant and requires all employees to either arrive early or stay later to perform a variety of "cleaning" duties around the restaurant. Stefan has a weekly "cleaning schedule" that includes tasks such as dusting the decorations, polishing brass accents, dusting wood surfaces, and cleaning the television screens. Stefan and his employees take pride in the appearance and cleanliness of the restaurant and believes it's a "small" factor that can lead to "big" returns in the way of enhancing their level of service quality. Which service quality variable are Stefan and his staff managing through the implementation of the cleaning schedule?

tangibles

When visiting one of his major accounts, Matt is accompanied by finance and product specialists. These specialists are able to answer specific questions so that a customer can make a purchase decision. This is an example of _____.

team selling

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.

An example of a threat to a firm discovered by a SWOT analysis might be: the chance to acquire firms with the needed technology. the narrow product line produced by the firm. the entry of new competitors in the industry. the presence of cost advantages due to advanced technology.

the entry of new competitors in the industry.

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 operating plans organizational vulnerabilities portfolio analysis

the first mover strategy

mobile marketing

the growth of wireless technology has given rise to a new marketing strategy called...

ethics

the moral standards of behavior expected by a society are known as...

The emergence of the marketing concept can best be explained by: higher production levels. greater sophistication in the production of goods. the shift from a seller's market to a buyer's market. a focus on product quality.

the shift from a seller's market to a buyer's market.

Psychographic segmentation divides a population into groups based on: their income and expenditure patterns. their attitudes, values and lifestyles. their use of the product. their geographic location.

their attitudes, values and lifestyles.

Marketing to Asian American consumers is challenging as: they have considerably less disposable income compared to other minority groups. they belong to multiple ethnic groups with their own language, religion, and value systems. they are widely spread in different regions of the United States. they have a high acculturation rate.

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

Netflix has become a popular media streaming company and provides consumers the opportunity to view programming at their leisure whenever it's convenient for them. In addition, consumers can stream programming on smart TVs, tablets, computers or smart phones. What type of utility is Netflix offering?

time

Direct distribution is a marketing channel that moves goods directly from producer to the:

ultimate consumer or business purchaser.

Brenda is shopping for mouth wash and is trying to compare prices of the popular Listerine ​brand to the Walgreens brand. However, the sizes of the containers are different. The Listerine brand is 48 ounces while the Walgreens brand is 74 ounces. Fortunately, shelf tags under each product display the per-ounce price so that Brenda can easily determine which product is less expensive. What type of pricing is included on the shelf tag?

unit pricing

Which of the following pricing policies began to be widely used during the late 1960s to make price comparisons more convenient between products packaged in different sizes?

unit-pricing

The numerical bar code system used to record product and price information is called the _____. unique label identifier uniform serial number unitized product locator universal product code

universal product code

Controlling part of the supply chain that involves raw materials, inbound logistics, and warehouse and storage facilities constitutes _____.

upstream management

According to Abraham Maslow's hierarchy of needs, human beings have five levels of needs they are constantly seeking to satisfy. Marketers who are knowledgeable of the hierarchy of needs are able to manufacture products accordingly, and develop marketing strategies that help make consumer purchase decisions easier. ​ ​Amos is in the market for a luxury car and has been researching different brands, their costs, and expenses associated with maintaining these vehicles. The luxury car commercials he has seen deal with social status, feeling good, and the esteem needs of potential consumers. For the most part, all of the brands he was considering were similar until he saw an ad for a luxury car company that was highlighting efficiency rates of the car's airbags and seat belts in crash control tests. Amos decided to buy this company's all wheel drive. ​ Which of the following statements can be inferred from the scenario provided above? ​Amos was able to reach self-actualization with his purchase of the luxury car. ​Amos's decision to buy a luxury car was an impulsive purchase decision. ​Marketers who consider Maslow's hierarchy of needs in their advertising campaigns sell more product. ​A consumer purchase decision may be informed by more than one aspect of Maslow's hierarchy of needs.

​A consumer purchase decision may be informed by more than one aspect of Maslow's hierarchy of needs.

​When the term social media is mentioned, most consumers immediately think of Facebook. However, social media is actually a collection of different forms of online or electronic communication that enable users to exchange ideas, information, messages and other content online. Suppose that you are a marketing professional and you want you expand your company's use of social media to build and enhance your relationships with your customers. More specifically, you would like to create a community of users of your products so they can share ideas and your firm can maintain an ongoing dialogue with them. In order to accomplish this, you would build which of the following?

​A social media platform

Which one of the following statements about marketing is false? Mobile marketing refers to marketing messages transmitted via wireless technology. ​Effective relationship marketing relies heavily on data and computer databases. ​The lifetime value of a customer consists of the revenues and intangible benefits derived from the firm's relationship with the customer. ​Buzz marketing involves using airplanes to "buzz" outdoor events with flying banners. ​Interactive marketing gives more control to the customer.

​Buzz marketing involves using airplanes to "buzz" outdoor events with flying banners.

​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 exclusive rights to produce and market the product forever. ​Corea Inc. will operate in a market with monopolistic competition. ​Corea Inc. will have a temporary monopoly in the market for this drug. ​Corea Inc. will operate in a perfectly competitive market.

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

​John learned in business school that full-cost pricing is a very common cost-oriented pricing procedure, and he planned to use it in setting price for his firm's new software product. However, his boss is not convinced that full-cost pricing is best, and wants John to list both its pluses and minuses in a memo. Which of the following should be included in John's list? ​Full-cost pricing can use only those costs that are directly attributable to a specific output, like production of 1000 units of the software. ​Full-cost pricing is based on a reliable projection of customer demand in the software market. ​Full-cost pricing does not ensure that overhead costs will be allocated appropriately. ​Full-cost pricing will take into account the likely competitive moves of other software developers. ​Full-cost pricing will enable the firm to recover all the costs it incurred while developing the software, including the overhead of running its research and development lab.

​Full-cost pricing does not ensure that overhead costs will be allocated appropriately. ​Full-cost pricing will enable the firm to recover all the costs it incurred while developing the software, including the overhead of running its research and development lab.

The newly elected president of a low-resourced, developing nation has hired marketing consultants to help his country. Realistically, what can he expect the marketers to do? ​Reduce income inequality. ​Improve energy efficiency. ​Obtain loans from the World Bank and other global institutions. ​Get insight into the needs and wants of citizens. ​Improve the country's image to attract international investment.

​Get insight into the needs and wants of citizens. ​Improve the country's image to attract international investment.

Marketers have been forced to adopt a more global perspective with their strategies. Which of the following is a key factor in driving this change?​ ​Increasing international travel ​Increasing consumer spending in the United States ​Greater interdependence of the world's economies ​Increasing economic clout of special interest groups ​Changing political leadership in China

​Greater interdependence of the world's economies

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? ​Helps Make Healthy Meals ​Makes Home the Best Eatery ​Keeps Families Eating Together ​Save Energy, Save the Environment ​Keeps Mom in the Kitchen

​Keeps Mom in the Kitchen

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? ​Vice President of consumer advocacy ​Manager of social media ​Manager of public policy research ​Vice President of diversity marketing ​Manager of Customer Relationships

​Manager of public policy research

Market segmentation can help marketers increase their accuracy in reaching the right markets, but it is best used flexibly with other marketing tools. Choose the statement below that best summarizes the market segmentation process.​

​Market segmentation is accomplished in four steps: it employs user profiles; forecasts the overall market; estimates the market share; and selects specific target markets.

Danielle and her roommate Sile are comparing the charges on their telephone bills. Both women get their Internet service bundled with their mobile phone charges. Danielle has a smartphone and Sile has a device with only basic features, so Danielle pays more for data downloading. Both women were surprised at the significant amount they are each charged annually for "regulatory cost recovery fees." ​ ​Required: What service is included in "regulatory cost recovery fees"?

​No service is included; fees are additional telephone company revenue

Psychographic segmentation is not an exact science. While it helps to paint an overall picture of the psychological motivations of consumers, those motivations are influenced by countless variables, such as family, occupation, and culture. Select the statement below that gives an accurate description of the effective use of psychographic segmenting.​

​Psychographic segmentation is effective when it helps to match a company's product offering with the types of consumers who use its products.

In your recent performance review, you were advised to sharpen your skills in managing the facilitating functions of marketing. You will begin by paying extra attention to which of the following activities? ​Building relationships with wholesalers and retailers. ​Evaluating studies of your customers' needs and wants. ​Assessing the effectiveness of different advertising themes. ​Pursuing access to new sources of funds to finance inventories. Understanding government standards for grading and quality control.

​Pursuing access to new sources of funds to finance inventories. Understanding government standards for grading and quality control.

​You are worried about adding too high a markup to the watches you sell at your jewelry store. To reduce this markup and still cover costs, you will focus on:

​Reducing the number of retail services you perform ​Decreasing inventory turnover rate ​Increasing inventory turnover rate

Developing a relevant user profile is the first step in the market segmentation process. How are segment profiles used to identify the typical customer in each segment?​

​Segment profiles are used to describe similarities among members of a market segment, and to explain differences among members in separate market segments.

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? ​André and Selena both exhibit personal factors. ​Selena and André both exhibit interpersonal influence. ​Selena exhibits an impulse factor and André exhibits interpersonal influence. ​Selena exhibits a personal factor and André exhibits interpersonal influence. ​André exhibits an impulse factor and Selena exhibits interpersonal influence.

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

​Asmeret works as a hotel manager for a popular family resort and casino in Atlantic City, New Jersey. During the summer, hotel managers aim for an occupancy rate of at least 85% to ensure that overhead costs are covered. The resort is known for its quality services; guests generally return an average of three times during the summer and use their rewards and loyalty cards during their stays. On this particular day, Asmeret is quite stressed because the occupancy rate is only 65%. If the hotel fails to sell at least an additional 20% of the available rooms, she might be in some trouble.

​Services are perishable

Kiera's dog walking business is booming, and she is interested in expanding. In order to expand, her company needs more customers, and the demand for dog walking in her neighboring communities must increase in order for her to generate a profit. Her best friend, a local celebrity, suggests that she should consider marketing her services. Because Kiera understands that there are specific challenges associated with developing advertising objectives for services, she is very careful about how to advertise her dog walking services. In the end, she decides to develop a logo for her company so customers can associate it with the services she provides. ​ How did Kiera make her intangible services more marketable?​

​She enhanced her brand image.

​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

​You've attempted to maximize profits on sales of your bakery's gluten-free bread by taking a number of steps: for example, by responding quickly to competitors' discounts, setting target return objectives, and marketing the product as a necessity for people who are allergic to wheat. Unfortunately, profits still haven't reached your goals. You hope to explain the disappointing results to your partners in a way that won't reflect poorly on your marketing judgment. Which of the following explanations do you choose?

​The demand curve for the product is unclear

You just finished meeting with your boss, who is very upset about the most recent customer survey results for the firm. A majority of the respondents complained about the limited number of product lines your firm offers.

​The firm needs to expand the width of its product mix

You are the manager for the consumer product adoption strategies department of your firm. Your job requires you to manage the third stage of the five-stage consumer product adoption process. Which of the following statements is true in regard to your job focus?​

​You should focus on making sure buyers clearly understand your product's benefits

Marketers must consider the advantages and disadvantages of each marketing strategy as they choose which one is the best fit for their firm. You have chosen to market your company's product using a differentiated marketing strategy. What disadvantage will you face?​ ​Your mass marketing approach may put you out of touch with today's consumer. ​Your firm may lose sight of other larger and more profitable markets. ​Your mass marketing approach may not appeal to smaller market segments. ​Your marketing costs will be higher and you will have more production processes. ​Your direct competition may appeal to your very narrow niche market in a similar manner.

​Your marketing costs will be higher and you will have more production processes.

​Jonathan Nash, aged 60, feels young at heart and spends most of his leisure time networking with family and friends online or surfing the Web. He can be characterized as: a generation Xer ​a baby boomer a Web addict a social animal

​a baby boomer

Jose is an avid runner and is training for his first marathon. He has several different brands of running shoes but his favorites are Asics because they are lightweight and also support his feet. He's going to purchase another pair for his training and decides that from now on, he will only purchase the Asics brand. Which level of brand loyalty is best described by this example?​ ​brand recognition ​brand insistence ​brand persistence ​brand preference

​brand insistence

The Gillette Company has a long history of developing shaving-related products for men and women. In addition, it continuously produces products that feature improvements to existing technologies, including three-bladed disposable razors and ergonomically superior handle designs. ​ ​To maintain its success in new product development, Gillette regularly organizes several small focus groups comprising people who shave in order to gain insights into what these individuals look for in a razor/blades/shaving system. At which step of the new-product development process is Gillette when it conducts these focus groups?

​business analysis step

Stepan, a global chemical supplier maintains an external, private exchange called a(n) ________ which enables its raw materials suppliers to share information such as new product development and work cohesively as partners to arrange logistics and schedule delivery to various Stepan manufacturing facilities across the globe.

​c-business exchange

Sam is a sales representative with Stepan, a global chemical supplier with manufacturing operations around the globe. Sam is based in the Midwest and Procter and Gamble is one of his accounts. Stepan is known as a quality producer of surfactants which are utilized by companies like Procter and Gamble to make their products work better. For example, Procter and Gamble utilizes surfactants in Tide detergent in order to get clothes cleaner and separate the "cleaning agent" from the water. Stepan produces their surfactant as one of their "finished products" but when added to Tide detergent, the surfactant from Stepan becomes a final product of Procter and Gamble. Which type of business product are Stepan's surfactants? ​

​component parts and materials

​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; interpersonal influences ​consumer behavior; personal factors ​interpersonal influences; consumer behavior ​personal factors; consumer behavior ​personal factors; interpersonal influences

​consumer behavior; personal factors

The Original Penguin clothing brand which features a cute penguin with a tie wrapped around its neck has made a successful comeback to men's fashions since 2003. The brand is popular among young men and the company recently articulated its interest in generating a 10% increase in sales among college students in the United States for the next year. Which step in the marketing planning process best corresponds to the articulation of a 10% increase in sales? ​assess organizational resources and evaluate risks and opportunities ​formulate strategy ​determine organizational objectives ​implement strategy through operational plans

​determine organizational objectives

A manufacturer of sports shoes received an order to export 50,000 units to Brazil. Which pricing approach should the manufacturer use so that the cost of exporting is paid by the receiving country?

​determine the price minus the cost of shipping to the receiving country

American Siding and Windows uses a team of inside sales representatives to contact homeowners by telephone and schedule appointments to provide free estimates on home improvement projects such as new windows, sun rooms, siding and awnings. The company's promotional efforts can be classified as: ​

​direct marketing

​You begin every work day by stopping by the local premium coffee shop for a latte. They recognize you when you come in and just hand you your regular order. Recently, a number of events happened at the same time: you got a promotion with a higher salary; your regular coffee shop increased its prices; and a competitor moved into the same shopping center, offering lower prices. ​ Required: During your vacation, you have the luxury of time to reflect on your workday pattern of coffee consumption. Looked at from a marketing perspective, which action could you choose to show that your demand is more elastic?

​discovering that you enjoy the taste of the competitor's coffee

After years of using full-cost pricing in a niche market for luxury watches, you find your competition has slowly increased its market share each year with discounted prices. Focus groups have confirmed that the image of your watches is still one of success and prestige, but more people are willing to consider substitutes. Incremental cost-pricing could enable you to increase profits and unsettle your competitor's complacency. You know that changing to incremental-cost pricing does have a significant downside problem. But you are also aware that you can prevent that from happening. ​ ​What is the downside problem and which solution can you take to prevent its happening?

​downside is losing your niche market. solution is to take solid measures to isolate your markets for lower-priced watches from your higher-priced models

Unity Point Hospital system implemented a web-based system that provides the capability for suppliers to place bids and once approved, submit invoices, schedule delivery and receive payment electronically. The purchasing managers for Unity Point appreciate the enhanced efficiency of working with multiple vendors to obtain the various products and services needed by the Unity Point system of hospitals and physician offices. This web-based system is called:

​e-procurement

​Carlos has always been interested in the medical profession and took advanced biology and human anatomy courses in college so he could pursue his dream of working in the medical device industry. He's now employed with Stryker who is a leading medical device company offering specialized products such as artificial joints and surgical tools. Carlos works in the orthopedics division and often demonstrates his company's products with surgeons in the operation room at hospitals and enjoys the opportunity to train physicians on new equipment or devices. Carlos has an office in his apartment and works with physicians, hospitals and medical offices in his 2-state territory. Stryker provides a company car, computer, and expense account so Carlos can minimize his out-of-pocket expenses when traveling to meet with prospects and customers. Which of the following sales channels is most appropriate to describe Carlos' position with Stryker?

​field selling

Successful marketers use the marketing concept of relationship marketing to develop customer-oriented marketing programs. An effective integrated marketing communication (IMC) strategy captures the audience's attention and promotes a brand or product in a cohesive way. ​ ​Which of the following approaches to marketing can be used to avoid marketing myopia

​first identify the target market and then develop a marketing mix accordingly

Komatsu is a global firm known for its earth moving equipment utilized in construction. Since its products are sold around the globe, Komatsu has developed a unique approach to pricing where prices are set according to the market conditions within each geographic region. For example, an excavator might be significantly less expensive in India than in the United States in order to reflect the local marketplace conditions. What type of pricing strategy is Komatsu utilizing?​

​market-differentiated pricing

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 ________. ​environmental plan ​marketing strategy ​competitive strategy ​target market mix

​marketing strategy

Which of the following is an advantage of newspaper advertising?​

​offers high levels of flexibility

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? ​constructive planning ​operational planning ​tactical planning ​strategic planning

​operational planning

Marketers adopt different strategies in order to promote their products in the market. But what is a market? Select the best definition of market from the choices below.​ ​people and organizations with purchasing power, authority, and willingness to buy goods and services ​spaces or outlets where goods and services can be purchased ​specific people and organizations likely to buy certain goods and services ​people and organizations who regulate the manufacture of goods and services available for purchase ​goods and services that serve both the consumer and business

​people and organizations with purchasing power, authority, and willingness to buy goods and service

On a recent trip to the grocery store, Jackson noticed an in-store tasting event for a new line of yogurt-based dips. The store was providing product sampling and a coupon for .50 off the purchase price. Jackson tried the French Onion flavor and liked it so much he decided to purchase it for an upcoming party at his home. Which characteristic influencing adoption rates does this represent?

​possibility of trial use

There are a number of strategies that you can use to position your company's technology product in the mind of the consumer. You decide to focus your advertising campaign on the perception that your product is what the others aspire to be--the best. Which of the common categories for product positioning are you using to develop your marketing campaign?​ ​product class ​application ​product user ​attributes ​usage rate

​product class

Marta's company wants to revamp its potato chips brand to compete with Lay's potato chips. She has been researching consumer preferences so that she can market her company's chips accordingly. What type of strategy is Marta using?​

​product positioning strategy

Starbucks recently faced criticism for changing the way consumers could earn free food and beverage in its loyalty program. Originally, consumers could earn 1 star for each purchase - regardless of dollar value spent. However, the new program ties the star benefit to the dollar amount spent by a customer - rewarding those who spend more with more points. The Star program is frequently utilized by Starbucks to entice its members to return to the outlet. The company utilizes e-mail and in-app promotions to maintain an loyal following. What type of segmentation is Starbucks utilizing with its Star rewards program? ​ ​ ​psychographic ​product-related ​geographic ​demographic

​product-related

Companies who use exaggerated claims of a product's superiority or the use of subjective or vague statements that may not be literally true are using _____.​

​puffery

Yield management is strategic control of inventory. It maximizes revenue or profits from fixed perishable resources. ​ ​What are the three rights of yield management?

​right customer at the right time for the right price

​Menards is known primarily as a home improvement store with lumber, plumbing, paint, electrical, and tools as their most sought-after products. However, the store also features a "grocery" section with milk, break, cereal, and other staple items in its store. This is an example of __________, the practice of combining dissimilar product lines to boost sales volume.

​scrambled merchandising

Which of the following is NOT part of the definition of marketing? ​seek to solely satisfy the needs of the organization by earning a profit ​identifying customers ​creating value for customers, clients, partners, and society at large ​emphasizes the importance of creating and maintaining long-term relationships with customers and suppliers

​seek to solely satisfy the needs of the organization by earning a profit

When firms identify the factors that affect consumers' purchase decisions and develop strategies and tactics to appeal to specific types or groups of customers, they are practicing market _________. ​differentiation ​segmentation ​uniformity ​complexity

​segmentation

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. ​technological ​competitive ​social-cultural ​political-legal

​social-cultural

The manager of a retail furniture store desires to increase the number of prestige sales of pieces handcrafted from natural materials. Which strategy should the manager use to meet this sales objective?

​stage an area on the floor in each room highlighting the pieces and their uses

​You are contemplating starting a business in the next few months. You have expertise in both goods-based and services-based businesses, but aren't sure which route to take. You are, however, determined to develop jobs for the small factory town in which you grew up. ​ Required:Based on what you know about the U.S. business economy, which of the following approaches would you take?

​start a services-based business because such businesses are expected to account for 18 million new jobs by 2020

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 _______. ​operational planning ​defensive planning ​tactical planning ​strategic planning

​strategic planning

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? ​strategic planning ​operations planning ​media scheduling ​tactical planning

​tactical planning