MKTG - Exam 1 - ALL

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US World War II General George Patton

"A good plan, violently executed today, is better than a perfect plan next week." Don't wait for the perfect plan to build before you act. If you do wait, you will be waiting a long time. No perfect plan will ever exist. Marketers should generally avoid pursuing planning perfection. Martin Luther King used a strategy that elevated the Civil Rights Movement to top-of-the-mind levels in America's collective mind - his strategy entailed being opportunistic; meaning identifying opportunities before anyone else does, and then being willing and able to strike first by delivering differentiating value.

French scientist Dr. Louis Pasteur (the man who brought the world pasteurized milk)

"Chance favors the prepared mind." -prepare - by planning, early. -leverage the preparation that planning processes provide.

another Chinese Proverb

"Dig wells before you are thirsty." Don't wait until it is too late to plan to muster the necessary resources or to establish the appropriate goals. Instead, plan ahead.

UCLA Basketball coach John Wooden

"Failing to plan is like planning to fail" Want to fail? Then don't plan. Planning creates preparation and consequently useful insights, making it more plausible that individuals or organizations indeed could move quicker, but patiently.

The phrase ____________________ has emerged as a governing supply chain mantra. "The end of every song is money" "Good, better, best" "Faster, better, cheaper" "Good isn't good enough" Good to better to best

"Faster, better, cheaper" (correct)

GE CEO Jack Welch

"If you don't have a competitive advantage, don't compete." -Establish the right goals. -Base one or more of these goals on the need to achieve differentiation. -Properly measure and reward (punish) progress (failure to progress) toward achieving these goals. An SBU defined is the smallest business unit within any firm for which independent planning can be done and independent resources exist.

Anonymous

"If you don't know where you are going, any road will get you there." -Create or possess a plan (always plan your work, always work your plan); refine if necessary. -Develop only one, two, or three goals as part of that plan. -Put the right measurements (metrics) in place as a means of measuring progress, or lack of progress, toward achieving those goals. People perform to their metrics. Albert Einstein said "Not everything that matters can be counted, nor does everything that is counted matter." When managing this measurement process, two questions should always be asked. First, is the firm measuring the right things right? Second, is the firm measuring any of the wrong things? Then, stop! As noted, there is never a right way to do the wrong thing. Measuring performance improves performance. But measurement is not enough. A value must be placed on the performance being measured. The question of what return is the marketing receiving in exchange for its investment of time, people, or money against a specific mission-driven objective or priority should also be answered.

When communicating with customers, marketers are now operating during an age of:

"Laser-like" marketing

When communicating with customers, marketers are now operating during an age of:

"Laser-like" target marketing.

cultural adage having unknown origin

"Luck is where opportunity and preparation meet." Many people who appear lucky in fact may have been well-prepared, ready-to-succeed when the right opportunity to succeed arose. The preparation that often is so necessary before certain lucky souls, well, get lucky. Opportunity and preparation happily intersect.

US President and World War II General Dwight D. Eisenhower

"Plans are nothing, but planning is everything." No plan ever works out exactly as planned. Consequently contingencies should be in place to adapt and respond to unexpected situational outcomes as they arise. Merely engaging in the planning process and this alone, makes it more likely that these adaptive - or contingent - processes will occur.

Chinese Proverb

"The man who chases two rabbits catches neither." Focus, focus, focus on what you or your firm does best. Organizations typically should focus on developing and exploiting a narrow range - two or three at most - of core competencies. ex: Apple does branding (great) and design (best in world) and steals, adapts, or creates the best new ideas that lead to desirable new customer solutions. And that's it, Apple does not make a single product it markets; nor does Apple ship or warehouse any of them. But what Apple does do, and concentrates on doing extremely well, clearly is more than enough. When focusing on catching only one rabbit at a time, marketers would do well to focus intently ensuring that the right rabbit is chased. Ideas, which are products, and they alone foment revolutions, every single time. The evolution of any revolution can never be separated from the marketers who instigated it. Knowing what you know now, how else could one describe revolutionary leaders?

US President Barack Obama

"We don't have a strategy, yet." -Create a strategy. -Even if you have no strategy, don't broadcast this deficit to competitors or enemies.

Prussian Field Marshall Carl von Clausewitz

"When absolute superiority is not attainable, one may be produced at decisive points by making skillful use of the resources you have." -Attack competitors or enemies at their weakest point. -When attacking, concentrate on doing what your organization does best. -Planning organizations should develop and execute measures that ensure their always limited resources are used efficiently. The 3Ts of planning are Time, Talent, and Treasure (money). Concentrate almost exclusively on doing what it does best.

Marketing strategists' two-headed goal is to (1) manage their _____________ in ways that create differentiating value and uniquely-desirable positions for their brands (2) as their organization ______________

(1) marketing mix, (2) targets specific market segments

Nick Saban (St. Nick)

-"The key to success is not looking at the future or the past but just the game in hand and breaking down to just the fundamentals what will prove necessary to succeed in this particular game. -The best way to be consistently successful is to focus on the process and not the outcome. -Once a process is in place; continually refine and improve the process. -Follow the process all the time. -Don't get wrapped up in the near-term results. Play the long game."

The process of strategizing (planning) is useful. The activities through which plans are created:

-Forces organizations to engage in systematic, forward-looking planning. -Forces planners to prioritize their goals. -Leads to more efficient utilization of the always finite (limited) 3Ts inside organizations. -Helps organizations respond more quickly to opportunities and threats as they arise in organization's internal or external environments. -Establishes clear performance metrics (benchmarks) against which progress or the lack of progress toward mission-driven goals can be assessed. -Increases the likelihood any organization is working-on-the-right-things and doing-the-right-things right. This statement is far from cliche. Right ways to do the wrong things right simply cannot exist. -Provides safe-harbors in which possibly-thinking can occur. When possibility-thinking is not just allowed but actively encouraged, the prospect of creating and evaluating new ideas and new approaches is enhanced. That's innovativeness, played out inside a planning process.

genuinely strategic planners should:

-accept that when planning the hardest thing to do often entails determining which bridges to cross (identifying which opportunities to pursue) and which bridges to burn (identifying which opportunities to ignore or quit). -understand that they may meet their destiny (destinies can be good or bad, right?) on roads they took to avoid it - and to know what to do if this happens (i.e., they have contingency plans in place). -accept as honorable facts the degree to which marketers should never fight fair fights and plan so well that fair fights never arise for them.

strategic processes...

-entail a look into the past. marketing organizations or individuals generally should keep doing or expand what they have done well in the past, so long as the market remains receptive to the values that were being produced. relatedly, strategic-minded individuals or corporations should eliminate or lessen what they did wrong or what worked out less-than-ideally in the past. -entail a look around at the present. the purpose here is to identify best opportunities to pursue or worst threats to avoid or mitigate. The present truly represents a gift to strategic planners, because the present time is exactly where marketing planners can identify the best opportunities to pursue and/or the worst threats to mitigate or avoid. -entail a look (best possible) into the future. predictions, difficult though they are (after all, they are made about unknowable futures), still must be made before the best possible goals can be identified.

strategists should...

-understand that planning requires preparation but planning creates preparation. -move quickly, based on their wisdom (which includes their willingness to prepare) and grounded in actionable knowledge. -move patiently, again based on their wisdom (or at least, the actionable insights that emerged from the preparation that went into planning).

positions (created and reside)

... inside the collective mind of targeted customers segments relative to the positioning image that competing organizations and their branded products have created for themselves inside the same places.

What is the best strategic approach to pursue when firms seek growth?

.APursuing new target markets B.Developing new marketing mixes or refining existing marketing mixes Pursuing some combination of choice "a" and choice "b"

How many segments should marketers target if they are engaging in concentrated (or niche) market targeting strategies?

Customers typically do not notice price hikes of less than ____ percent.

Customers typically do not notice price hikes of less than ____ percent. 5 9 10 15 17

10 (correct)

Generally, customers don't care about price hikes until the increase exceeds ________ of the original price. 5% 10% 15% 20% 25%

10% (correct)

The average age of an automobile on American streets and roads has risen to __________ years, indicating the extent which overall domestic quality has risen.

11.8

The average age of an automobile on American streets and roads has risen to __________ years, indicating the extent which overall domestic quality has risen. 9.8 10.3 10.9 11.8 Quality has not risen at all.

11.8 (correct)

Success Laws

1: Planners should pursue logical solutions. 2: Planners should pursue the simplest possible solutions. 3: Planners should account for the role of technology. 4: Planners should accept, account for, and adjust to the fact that some factors are uncontrollable. Marketers should develop products and messages that preemptively align with what the customers who constitute market segments are already doing, thinking, or needing. 5: Planners should understand that Gold Rules. When planning, always dance close either to the revenue or cost line, or both. If the finished product does not elevate revenues or tamp down costs, or achieve both outcomes, change and improve the plan. 6: Planners should manage two types of risks. The first type of risk entails Sinking-the-Boat (risk of ruining organizations by making overly huge strategic bets, and losing). The second type of risk entails Missing-the-Boat (allowing great strategic opportunities to walk right by, including opportunities to act boldly when others cower timidly.) -Another planning issue related to risk exists that planners should account for: the Waterline Principle. Basically, if you take a risk that's above the waterline and fail, the company (boat) stays afloat and everyone learns from the experience. But if you cause a hole (or more than one hole) below the waterline, water rushes in and your company (or boat) may sink. -Risk and returns do rise and fall together. 7: Planners should distinguish between challenges associated with managing uncertainty as opposed to challenges associated with managing risk. 8: Planners should accept that some strategic marketing problems are truly-wicked. Truly-wicked strategic problems include the need to: -Balance long-term goals with short-term demands. -Balance your firm's (and its investors') desire for profits (dividends) with your corporation's need to be socially responsible - and thereby enhance or sustain its branding power. -Find completely unclaimed marketplace (i.e., discovering an unmet need or want where little to no competition already exists, trying to satisfy them). -Manage diverse views while strategizing inside any organization. Diversity is good, particularly the presence of diverse views inherently elevates creativity - as you will learn. But diversity is quite difficult to manage. Why? Because yes, while it's true that opposites attract; opposites eventually typically repulse. -Balance the desire to develop and market higher quality products or services while holding down costs. -Protect profits in increasingly commoditized and globalized markets. -Marketers succeed best when concurrently operating inside problem-creating and problem-solving worlds. 9: Planners should accept that often no one best solution exists. 10: Planners should watch (i.e., be careful about making) assumptions. 11: Planners should accept how important relationships are - and embed this truth inside their hearts and heads. -customers never owe anything to firms. NOTHING. -marketers, all of them, confront the strategic obligation to make, market, and deliver solutions that customers perceive (inside their imagined realities) are worth having to give up their hard-earned value (usually, money) to obtain through exchange. 12: Planners should accept no need exists to panic, as in never ever - at least not in public.

When designing any sort of product or message which total number of attributes, features, roles, etc. appears to be most powerful?

How much did Facebook pay for Instagram? 1,000,000,000 3,000,000,000 5,000,000,000 7,000,000,000 None of the above

3,000,000,000 (correct)

What is the difference in the 4Ps of marketing and the 7ps?

4Ps are in play when marketing products. 7Ps are in play when services are marketed

What is the difference in the 4Ps of marketing and the 7ps?

4Ps are in play when marketing products. 7Ps are in play when services are marketed (correct)

Yankelovich Research reports that American consumers were exposed to around _____ advertisements a day during the 1970s. Whereas today, as many as ______ daily.

500; 5000

Yankelovich Research reports that American consumers were exposed to around _____ advertisements a day during the 1970s. Whereas today, as many as ______ daily. 50; 500 100; 1000 200; 2000 400; 4000 500; 5000

500; 5000 (correct)

How many social class categories exist in the U.S., that is, according to your book?

How many commandments did the Jews eventually write to supposedly govern their moral behaviors?

613

How many commandments did the Jews eventually write to supposedly govern their moral behaviors? 10 23 423 540 613

613 (correct)

The marketing mix for tangible products features the "4P's": product, price, place, and promotion. The marketing mix for intangible services features how many P's?

How many people usually comprise focus groups?

8 to 12

What is the approximate ratio at which unhappy (or dissatisfied) customers are likely to evangelize to others about their product or purchase experiences, relative to how often happy (or satisfied) customers are likely to evangelize?

8:1

How many participants usually make-up a focus group?

9 - 12

During 2018 what percentage of every dollar spend on online advertising went to Google or Facebook

99%

When organizations form partnering relationships in the supply chain they are usually planning to:

A & B only.

The physical surroundings in which services are delivered illustrate:

A Product An intangible product of a tangible dimension A tangible service An intangible service A tangible dimension of an intangible product (correct)

How should marketers view themselves?

A and B (Moneymakers, Problem solvers)

Co-branding occurs when:

A and B and C are each correct.

Which description best describes the true nature of marketing and marketing strategies?

A and C only

What two factors interact and usually provide answers to "why" consumers decide what to buy or not to buy questions?

A combination of genetics and the environment

The four-cell BCG Market Share Product Portfolio Planning matrix features two dimensions. The dimensions are:

A given brand's relative market share and the growth rate of the market in which the brand competes.

Which group would provide the most "representative sample" of the UNT student population?

A group consisting of a proportional number of male and female UNT students

"Most, indeed nearly all, Americans have less than they want. Yet nearly all have more than they need." According to your text, these two sentences exemplify (or illustrate):

A paradox

Vermont, a northeastern U.S. state, currently offers $10,000 a year for people to move there even if they elect to work in another state. What is being marketing here? Be as specific and as exact as possible in your response.

A place

A position is:

A place inside customers' minds. A place inside targeted segment's collective minds. An image and set of benefits presumably associated with well-positioned branded products. A, b, and c are correct. (correct)

A representative sample represents:

A population of interest

The Deontological approach to ethical decision-making in business settings is most closely related to: The "Mother and Your Facebook" test that supposedly governs people's decisions and behaviors in situations featuring ethical dilemmas. Criterion that yield the greatest good for the greatest number of people-regardless of whether anyone is hurt-in situations featuring ethical dilemmas. The Hamilton and Strutton truth-telling guidelines, as explained in the book. A recognized set of rules or laws that supposedly govern people's decisions and behaviors in situations featuring ethical dilemmas.

A recognized set of rules or laws that supposedly govern people's decisions and behaviors in situations featuring ethical dilemmas. (correct)

Which answer is NOT a marketing service?

A retail clothing store

Which statement best defines marketing?

A set of organizational processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Which statement best defines marketing?

A social and managerial process where individuals and groups get what they need or want by generating and exchanging value with others.

What is a need?

A state of felt deprivation

The physical surroundings in which services are delivered illustrate:

A tangible dimension of an intangible product

What trend did Levi respond to when the jeans maker and marketer introduced Dockers during 1986?

A trend suggesting that casual dress exercised positive outcomes on the performance of professional men. (correct)

The ability to achieve personal success as a marketer is based primarily on:

A willingness to do many big little things well (correct)

When consumers purchase a 1/4-inch drill bit, what is the key solution or value they are buying?

A ¼-inch hole

In purely competitive market sectors, which statement is true?

A+B

In purely competitive market sectors, which statement is true? No firm possesses the size, scale or branding power to exercise much effect on pricing. There is a high probability that product prices will be elastic in a pure competitive market. Very few companies exist in a particular industry that operates in a purely competitive marketplace. A+B A+C

A+B (correct)

In what ways does successful NPD benefit society? NPD increases productivity NPD increases economic growth NPD reduces income inequality A+B All of the above

A+B (correct)

Advertising often can reach large numbers of targeted customers quickly, but drawbacks exist. Which of the following represents a limitation associated with advertising?

A+C

The best branding stories are _______

A, C & D only

Conventional Marketing Systems exist

A, b, and c are all correct.

Core competencies:

A, b, and c are each correct.

Which answer is correct? Positive brand equity can: Increase the "share of mind" space enjoyed by the branded product. Be used by firms to launch new products more easily. Charge higher prices and not lose market share A, b, and c are each correct. None of a, b, or c are correct.

A, b, and c are each correct.

Strategic planners must manage which type of risk?

A.Failing to address a threat B.Missing out on an opportunity C.Both A and C correct

A position is a(n) ______ that firms should create in the _____ of ____.

A.Image, minds, market segments B.Point of differentiation, minds, customers Statements a and b are correct

The word metrics is a modern strategic planning term that is primarily used to indicate or establish:

A.Measurements B.Benchmarks Both a and b are correct.

Successful positions are usually grounded in differences that customers perceive as determinant. What does determinant mean?

A.Positions that are based on actual/genuine differences B.Differences that themselves are important to customers as they choose which brand to select C.Both A and B are correct

What kind of data can be used to successfully execute marketing research?

A.Primary data B.Secondary data Both A and B

Firms can grow revenues by:

A.Targeting new segments C.Both A and C

What is the purpose of positioning?

A.To achieve differentiation C.Both A & C

____________ is a mode of interpersonal communication about brands or marketing organizations that functions either as marketers' best friend (because receivers believe and trust the information and information source) or worst enemy (because receivers believe and trust the information and information source).

A.WOM, or word-of-mouth. B.E-WOM, or electronic word-of-mouth. Both a and b are correct.

Which percentage of professionals say they do their best thinking - creatively foraging through ideas- at work?

About 10%

Which percentage of professionals say they do their best thinking - creatively foraging through ideas- at work? About 5% About 10% About 15% About 20% About 40%

About 10% (correct)

Marketers typically cannot control all factors that exist inside market environments. When confronting these situations what should marketers do?

Accept, then make accommodation for the fact that some factors are not controllable.

Marketers typically cannot control all factors that exist inside market environments. When confronting these situations, what should marketers do?

Accept, then make accommodations for the fact that some factors are not controllable

Marketers typically cannot control all factors that exist inside market environments. When confronting these situations, what should marketers do?

Accept, then make accommodations for the fact that some factors are not controllable (correct)

Although Seattle may be a promising market for crawfish, it is not appealing to crawfish distributers in New Orleans due to the difficulties of transporting the product from the Gulf Coast to the Pacific Northwest. The Seattle segment does not pass which criteria for identifying attractive segments: the segment is not...

Accessible

Effective, viable and potentially attractive market segments should be measurable, _________________, substantial, differentiable and actionable.

Accessible

What is an essential first step when marketers engage in the service failure recovery process?

Acknowledge Listen (correct) Thank Explain

Balance, the context of strategic planning, would entail

Acting like a person of thought but thinking like a person of action

Balance, the context of strategic planning, would entail:

Acting like a person of thought but thinking like a person of action

Balance, the context of strategic planning, would entail:

Acting like a person of thought but thinking like a person of action. (correct)

Attractive market segments are generally measurable, accessible, substantial, differentiable and _________. Which description is missing?

Actionable

AIOs can be used to measure preferred lifestyle choices. AIOs include:

Activities, Interest and Opinions

What does AIO stand for?

Activities, Interests and Opinions

AIOs are a segmentation criteria used to measure consumers'

Activities, Interests, and Opinions

AIOs are a segmentation criteria used to measure consumers:

Activities, Interests, and Opinions

To solve problems, researchers should not confuse the symptoms of problems with the ...

Actual causes of problems

Most marketing promotions, at some level, entail manipulations. But especially __________

Advertising

Which of the following is not an implication that follows from the best marketing definition that is provided inside this Module?

Advertising

___________________ is any form of one-way, paid (with sponsor identified), and impersonal communication aimed at targeted customers.

Advertising

Which domestic market sector best illustrates an oligopolistic market? Grocery Airlines Utilities Technology Pharmaceutical

Airlines (correct)

__________ inside the US kills far more people annually than smoking. Alcohol consumption Vaping Marijuana consumption None of the above.

Alcohol consumption (correct)

Many domestic (US) shoppers are drawn to ___________ grocery stores for the rock-bottom prices even though they require their customers to endure several minor inconveniences.

Aldi

Many domestic (US) shoppers are drawn to ___________ grocery stores for the rock-bottom prices even though they require their customers to endure several minor inconveniences. Winn-Dixie Save-a-lot Bi-lo Aldi Kroger's

Aldi (correct)

When Walmart CEO Greg Foran uses words such as "fierce," "good," and "clever" to describe an emerging competitor, which competitor is he referencing? Amazon Kroger Albertsons Target Aldi

Aldi (correct)

Which of the following items can be marketed as products?

All can be marketed as products

A market position is best described as an:

All of the above

Anthropologists suggest that humanity's most basic fears are?

All of the above

Behavior-based segmentation is one of the several segmentation strategies marketers use. Several types of behavioral based segmentation exist. Which one or ones is the behavioral based segmentation strategy?

All of the above

Emerging technology has a profound impact on marketers' practices. Which of the following answers best captures how technology has impacted the practice of marketing? Technology has impacted how:

All of the above

Good design can signal higher quality. Great design can solve customer problem s. What other benefits does great design provide?

All of the above

In the increasingly globalized and technologically-driven markets that predominate today, what type of competitors are able to perform the same job just as well and less expensively than most domestic professionals?

All of the above

Market share is the ratio between the firm's sales volume and the entire industry's sales volume. Firms often find it difficult to maintain their current market shares. Why?

All of the above

Marketers create and sustain differentiation by managing their marketing mix. Which of the following is included in the marketing mix?

All of the above

Marketers should develop plans to manage ____ before they actually commercialize new products and introduce them to targeted B2C market segments.

All of the above

Planners should accept that the nature of some strategic marketing problems is truly-wicked. Truly-wicked strategic problems include the need to:

All of the above

Strategic planners should take into consideration

All of the above

The best brands ____________________ to many of the products that most customers consume.

All of the above

The emergence of new technology has fundamentally changed:

All of the above

The success of marketing messages depends, in large part, on how persuasive the messages are. Which characteristics usually must be present in order to make messages more persuasive?

All of the above

What does strategy mean?

All of the above

What is a product?

All of the above

When can marketers best utilize market skimming (skimming-the-cream) pricing strategies?

All of the above

When organizations know themselves, their competitors, and the market conditions in which they compete, often results.

All of the above

Which answer, as shown below, is considered a product?

All of the above

Which core competency helps marketers achieve sustainable differentiation and more desirable positions?

All of the above

Which of the following activities represents a routine (common) supply chain function?

All of the above

Which of the following communication outcomes is widely used as an advertising goal?

All of the above

Which of the following entities can be branded?

All of the above

Which of the following intellectual assets should marketing professionals seek to develop and exploit as they develop strategic plans?

All of the above

Why is every organization a marketing organization? For example, organizations such as places of worship, schools or military branches? The best answer is because each entity:

All of the above

Why should marketers evaluate the role played by consumers' social class membership as they (the marketers themselves) develop positioning strategies?

All of the above

Planners should accept that the nature of some strategic marketing problems is truly-wicked. Truly-wicked strategic problems include the need to

All of the above (1. balance long-term goals with short-term demands, 2. balance your firm's desire for profits with your corporation's need to b e socially responsible- and thereby enhance of sustain its branding power, 3. find a completely unclaimed marketplace)

Fierce rivalries often produce:

All of the above (1. grater hate between the two competitors, 2. greater respect between the two competitors, 3. more and higher quality products available at lower prices for consumers)

Anthropologists suggest that humanity's most basic fears are? Serpents and other reptilian creatures Rapacious flying birds Animals that feature large and powerful claws All of the above None of the above

All of the above (correct)

Which of the following activities represents a routine (common) supply chain function? Sorting Negotiating Financing Inventory management All of the above

All of the above (correct)

Which of the following terms does not describe a basic supply chain flow?

All of the above are basic flows.

Successful brands help:

All of the above are correct

Which of the following is not an environmental trend?

All of the above are environmental trends

Which of the following entities is not a product:

All of the above are products.

In an effort to revive fragmenting audiences (or target segments) brand managers can engage in:

All of the above are true

The term supply chain indicates

All of the above are true

What professional characteristics do marketers share in common with military commanders? Marketing and military strategist both seek to:

All of the above are true (1. Capture space, 2. Control Space, 3. Defend Space)

Which statement is most true about laws and regulations?

All of the above are true.

Various ways exist to differentiate brands successfully. Which way is best when seeking to differentiate brands?

All of the above would work

Consumers usually move from one stage of the family life cycle to the next as they age. Consumers occupying each life cycle stage can be treated as a different market segment because:

All of the above.

Which of the following items are not associated with brand names:

All the above are associated with brand names.

Which of the following items are not associated with brand names: Signs Words Colors Shapes All the above are associated with brand names.

All the above are associated with brand names.

Accurate answers to "Why" questions inside the consumer behavior field are often difficult to find. The "why" question is often so difficult to answer because:

All the responses accurately describe a source of the difficulty in answering "why"

Marketing strategy entails:

All three answers, dependent on context, are correct.

Which of the following descriptions of marketing information systems is wrong? Marketing information systems:

All three preceding answers are correct.

How might "embracing boredom" make a person become more creative? Check all that apply Challenges your thinking Allows for free ranging intersections of thoughts and ideas Pushes one towards technology Keeps people away from others who might bring them down Allows people to get more sleep and consequently refresh their thinking

Allows for free ranging intersections of thoughts and ideas (correct)

Secondary marketing research information:

Already exists but was originally collected for different purpose

The argument that innovative successes are "written in sand" implies the marketers should _________.

Always be innovating

Which of the following is the best example of a downstream business partner of marketing manufacturers such as Boeing or Airbus?

American Airlines

Which of the following is the best example of a downstream business partner of marketing manufacturers such as Boeing or Airbus? American Airlines Employees of Boeing or Airbus Federal or State Governments Suppliers All of the above

American Airlines (correct)

Which of the following is an example of a company that has used loyalty status segmentation?

American Airlines grouping customers by their membership status (i.e., gold, platinum, or executive) in the AAdvantage program

What behavioral tendency would most hinder a marketer's ability to make predictions in an unpredictable market?

An over-reliance on their own opinions

Among other things, innovation most prominently refers to: Profitable launches of new products A dimension of uniqueness Creativity An overall process whereby inventions are transformed into commercialized products that can be sold profitably All of the above

An overall process whereby inventions are transformed into commercialized products that can be sold profitably (correct)

Elon Musk's Tesla is now one of the most valuable car companies in the world. What makes this brand more interesting is that Tesla is much more than a car company; it is a high-tech battery company with multiple technology solutions. The key to Elon Musk's success was that he understood that there was high demand and low supply for green energy. Which of the three steps of the marketing plan process best describes Elon Musk's success?

Analyzing and choosing the right marketing opportunities

Successful marketers sometimes use a tactic known as because they know when consumers see ridiculously high prices first, the still-high but lower prices that follow these "ridiculously-high" price appear less expensive by comparison.

Anchoring pricing

Which of the following is not generally important for marketing researchers?

Ancient history

The emotion that is most likely to be shared inside social media channels is: Happiness Joy Disgust Anger Lust

Anger (correct)

Which of the following is not an example of a personal factor that influences consumer behavior?

Annual income

Advertising is best described as:

Any paid form of non-personal communication about an organization, good, service, or idea by an identified sponsor.

product(s)

Anything that can be offered to individuals, market segments or entire markets for customers' attention, acquisition, use, or consumption that might also satisfy their (i.e., individuals', segments', or markets') wants/needs—or solve their problems. Another way to view and define products, however, is as anything—either a tangible product, intangible service, place, idea, person, or organization—that can solve customer problems and profit marketers/marketing organizations.

What is a product?

Anything that can be offered to individuals, segments, or entire markets that benefits (profits) an organization. Anything that might satisfy individuals', segments' or entire markets' wants and needs Anything that solves problems for individuals, segments or entire markets All of the above (correct)

_________________________ include all manner of verbal and/or written attempts to restore, rehabilitate, or reposition brand images. News releases Speeches News conferences Apologies None of the above

Apologies (correct)

products (tangible)

Are called products. Many products are characterized by and successfully differentiated based on ample intangible elements.

products (intangible)

Are called services. Many services are characterized by and successfully differentiated based on tangible elements.

People, in general, ____________.

Are lying most of the time

Thressa Strutton corrected suggested that humans are not naturally herd-like creatures because they:

Are more likely than actual herd-like species to prey on their own kind.

What is the best reason for firms to scan and study their environments, according to classroom discussion? Firms should study their environments because:

As Willie Sutton said, that's where the money is.

Various types of consumer reference groups exist. Which among the following reference groups is the one to which consumers would most prefer to belong?

Aspirational reference groups

The term _____________ refer(s) to those typically intractable notions that professionals or organizations should not change because "we have always done things this way."

Associative barriers

The presence of ________________ hinder marketing professionals from thinking more creatively and hold them back from making innovative connections. Associative prejudices Unidentified biases Associative barriers Mind chains Governmental pressuresc

Associative barriers (correct)

The term _____________ refer(s) to those typically intractable notions that professionals or organizations should not change because "we have always done things this way." Intersections Associative barriers Boredom Creativity fences None of the above

Associative barriers (correct)

Where and when did the first verified use of coupons happen inside the United States? Dallas, 1899 New York, 1887 Los Angeles, 1854 Atlanta, 1887 Boston, 1774

Atlanta, 1887 (correct)

Marketers succeed (fail) based on their ability (inability) to create and sustain genuine or perceived differentiation for their product. All prospective customers make decisions about which alternative to purchase, generally from brands already inside evoked sets, based on their positive or negative evaluations of the competing products' attributes. This principle, or law, is best described as the principle of:

Attributes

______________________ distinguish one brand from another and are used by consumers as they evaluate the qualities, characteristics, value and appeal of different brands.

Attributes

Attributes (correct)

The prejudice known as ________________________ occurs when marketers place too much confidence in the accuracy of information provided by technology

Automation bias

Which of the following product categories does the best job of illustrating the powerful ability of marketing to create meaning and value for a product in the minds of consumers?

Automobiles Purses Diamonds (correct) Beer Cell phones

Customer ________________ might take the form of knowing that a new brand exists, knowing that an old brand still exists, knowing that determinant brand differences exist, or knowing that others (opinion leaders) ascribe high values to a brand. Communication Knowledge Diffusion Awareness

Awareness (correct)

Why is listening so important to marketers?

B and C only

Co-branding occurs when: Two brands from the same company are used on the same product. Two brands from different companies are used on the same product. One company is seeking to expand its brand equity into a new product category and/or market and is willing to pay for the priv ilege. B and c are each correct.

B and c are each correct.

Marketing between a firm and an individual is commonly referred to as:

B2C marketing

When consumers are involved in marketing as customers and organizations are involved as marketers, the process described as .........

B2C marketing

The problem with the BCG product portfolio matrix is that the matrix only works accurately when managers are looking _______, which is really difficult to do successfully when managers are trying to go and grow forward.

Backward, into past results

Backward, into past results.

What's the name of what probably was the world's first viral-lized digital video? Summer.mpg Brainwash.mpg Sorry.mpg Badday.mpg Loronix.mpg

Badday.mpg (correct)

Sometimes retailers such as Best Buy promote a great low price, for a limited time, for a new hot technology toy, and specify that this ridiculously low price is available for one day only, leaving unsaid that only three such items are in the store. Whenever consumers by the hundreds show up to the store incentivized by the deal and can't find the product, retailers show them an alternative brand. What is this practice called?

Bait and switch

Similar to other areas of personal life, most successful planners should generally function as professionals who willingly exercise and display:

Balance

Planners should accept that the nature of some strategic marketing problems is truly-wicked. Truly-wicked strategic problems include the need to:

Balance long-term goals with short-term demands Balance your firm's desire for profits with your corporation's need to be socially responsible- and thereby enhance or sustain its branding power Find a completely unclaimed marketplace

Planners should accept that the nature of some strategic marketing problems is truly-wicked. Truly-wicked strategic problems include the need to:

__________________________ is an economic concept that describes the existence of high start-up costs and other marketing-based obstacles that prevent new competition from easily entering existing markets.

Barriers-to-entry

Wicked problems are:

Basically irreconcilable in nature

_______________ is the name of the measure that is used to track the speed at which information travels across the internet.

Baud (correct)

Which of the following statements does not reflect one of Don Miguel Ruiz's four agreements as covenant business promises that all supply chain managers should make?

Be empathetic.

The first marketing law suggests that to be successful in the market, marketers need to:

Be first to market

Constructive criticism leads to more and better new ideas. What is the best reason why this is true?

Because constructive criticism encourages us to more fully reengage with our work

Why does the arrival of crises often prove so important inside the context of marketing strategy development?

Because crises offer opportunities to initiate change.

Why did Patagonia stop selling custom-made vests to some marketing organizations operating inside the business and financial sectors?

Because of the brand's virtue-signaling positioning strategy.

Why do marketers need primary information

Because the exact sorts of information that marketers need often cannot be entirely found through secondary information

When the subject turns to business rivalries and planning, organizations or people should choose who they hate carefully.

Because who they hate - and consequently choose to compete vigorously against - can make them great.

If a firm and its brands cannot be first to market or first to a category, then what should the firm do?

Become first of in the collective mind of the segment the firm is targeting

Consumer _________________ are perceptually and attitudinally driven

Beliefs

___________ are descriptive thoughts that consumers develop, have, and hold about something. By contrast, ____________ capture consumers' relatively enduring, consistent, and more deeply-held evaluations, feelings, and tendencies toward stimuli such as ideas, objects, experiences, or people.

Beliefs, attitudes

Who said that the primary role of U.S. Presidents "was to tell the best possible story about who we are as a country?"

Ben Rhodes

Which NPD activity involves taking something and altering a property, aspect, or dimension of the original element or object? Redesigning Blending Breaking Bending Repositioning

Bending (correct)

All humans possess _____________, and their possession of these thoughts/feelings often lead customers to make decisions in predictably irrational ways. Preferences Virtues Biases Opinions Motivations

Biases (correct)

The term _____________ is used to identify the core element of any advertising message; the idea or point intended to meaningfully differentiate the advertised brand because it resonates with the problems or emotions of targeted segments.

Big advertising idea

______________________ are created to bring advertising messages to life and to allow benefits and solutions offered by brands to be conveyed to targeted audiences through clear, distinctive, memorable, and persuasive messages. Slogans Differences Big ideas Brand Identifiers Key words

Big ideas (correct)

The phrase Demographic Winter refers to:

Birth rates falling below replacement rates, contributing to economic stagnation or recession. (correct)

The term Demographic Winter refers to:

Birth rates falling below replacement rates, developing economic stagnation or recession. (correct)

The innovative act known as ____________ involves mixing solutions from previously related or unrelated sources together in new ways

Blending

Which NPD activity is analogous with creating new intersections? Redesigning Breaking Blending Bending

Blending (correct)

Environmental trends offer _______ to marketers:

Both A and B

Successful positions are usually grounded in differences that customers perceive as determinant. What does determinant mean?

Both A and B are correct

Firms can grow revenues by:

Both A and C

Strategic planners must manage which type of risk?

Both A and C

What is one easily controllable means of demonstrating genuine respect and love for other people?

Both A and C

What is one easily controllable means of demonstrating genuine respect and love for other people?

Both A and C (Listen intently to them, Listen without interrupting to them)

Why is it important for wise professionals to learn from their own history?

Both a and d (a. To identify past failures and learn from them, d. to identify past successes and repeat them)

The discussion involving male peacocks and their gaudy tails was used to illustrate:

Both answers a and b are correct.

Marketing research entails collecting and analyzing information relevant to a specific marketing problem or opportunity/threat facing the marketer that is conducting the research. Insights generated through marketing research links customers or prospective customers to marketers through information.

Both statements are correc

Both statements are correct.

If a marketing organization partners with many other firms in its quest to source or sell products, the organization is said to have a short supply chain featuring many levels. If an organization partners with but few firms, the organization has a long supply chain featuring few levels.

Both statements are false

Micro-environments are easy to control. By contrast, macro-environments are not controllable.

Both statements are false

Micro-environments are easy to control. By contrast, macro-environments are not controllable.

Both statements are false (correct)

Changes don't always represent progress. But changes are always necessary for progress to occur

Both statements are true

Changes don't always represent progress. But changes are always necessary for progress to occur.

Both statements are true

Social status is important because it delivers positional value to consumers. This means, fundamentally, their social status elevates certain consumers above other consumers

Both statements are true

The process of marketing segmentation requires division. The process of marketing segmentation also requires addition.

Both statements are true

The risks associated with engaging in innovation are high. But the long-term rewards associated with innovation usually outweigh the risk.

Both statements are true

Changes don't always represent progress. But changes are always necessary for progress to occur.

Both statements are true.

Hedonism, the word, relates to the pursuit of pleasure and pleasurable sensations. Hedonism is a big deal in the marketing world where most consumer decisions are driven, directly or indirectly, by the pursuit of pleasure or the desire to avoid pain.

Both statements are true.

Homogeneous—in marketing, the word word homogeneous means that the consumers or firms who constitute market segments share key characteristics in common. These key characteristics that make it more or less likely they will respond favorably or negatively to the same marketing mix values.

Both statements are true.

Marketers that enjoy _________________________ can generally raise prices without losing market share. (Choose the absolute best answer.)

Brand equity

Public relation communications can and should be used to build and protect _________________.

Brand equity

The extent to which consumers willingly pay more for one branded product than another branded product from the same product category is best described as:

Brand equity

The most powerful brands are those that have strategically created which type of distinction?

Brand equity

Marketers that enjoy _________________________ can generally raise prices without losing market share. (Choose the absolute best answer.) Brand equity Marketing power Branding power Brand loyalty

Brand equity (correct)

The presence of ________________ is an earned core competency that often leads to extreme pricing power. Economies of scale Technical skills Customer connectedness Brand equity Lower costs

Brand equity (correct)

The most powerful brands are usually those that have earned ______ and ______.

Brand equity and brand loyalty

A consumer who only uses Apple products for communication illustrates the idea known as _______.

Brand loyalty

The term _______________ is used to describe strongly-held customer preferences for particular brands.

Brand loyalty

The term _____________________ is used to describe strongly-held and positive customer preferences for particular brands.

Brand loyalty

The presence of ______ provides depth, feelings, affinity, and liking to the relationships that exist between brands and those who purchase and use them.

Brand personality

Marketers often attempt to align elements of their ____ to consumers' ideal self-concepts to build positive attitudes towards a brand

Brand's personality

Which of the following sources of differentiation does not represent one of the three ways to achieve sustainable competitive advantage and successful positioning?

Branding advantage

The primary mission of _______is to name and brand new products.

Branding agencies

Who is usually in charge of the branding of new pharmaceutical products?

Branding agencies

The arrow in the Amazon logo is meant to look like a smile which supports the company's mission to keep customers happy. The arrow is part of (a): ________.

Branding story

The Democrat and Republican political party's use of an elephant and donkey illustrates which strategic marketing tool?

Branding symbol

McDonald's golden arches and Nike's swoosh are both examples of ______ because they help consumers identify the company.

Brands

Successful _______________ exist as powerful barriers to competitive entry into the market.

Brands

_______________ are the names, signs, symbols, designs, colors, or some combination of these and other dimensions that identify and distinguish or differentiate the marketer of a product/service from the other organizations marketing the same product inside the same product category

Brands

When engaging in market segmentation, what is the primary goal of marketers?

Breaking larger heterogeneous markets into smaller homogenous segments

Strategic goals must be all of the following except:

Broad

The primary goal of positioning is to:

Build brands that deliver certain images inside targeted market segments' collective minds.

Several normal and expected marketing activities are shown below. Which activity will likely contribute most to marketing success?

Building appealing differentiating brands Delivering these brands successfully to a targeted market segments

In the contemporary marketplace two primary outcomes contribute most to marketing success. The two outcomes are:

Building appealingly differentiating brands and delivering them successfully to targeted market segments.

The use of _______________ increases add-on purchases by customers. Pricing anchors Reframed prices Bundled prices Price-signaling Spiffs

Bundled prices (correct)

Which of the following is true about Rivalries?

Business rivalries usually foster innovations and benefit consumers

The acronym B2B stands for:

Business to business market

Organizations that seek to lower costs through supply chain design should choose a _______ decision.

Buy

The NPD strategy that entails outright acquisition of entire companies or licenses to produce another organization's products is called a(n):

Buy NPD strategy

Caveat emptor means?

Buyer beware

How do most Americans actively pursue happiness?

By pursuing economic and consumption means

How do most Americans actively pursue happiness?

By pursuing economic and consumption means (correct)

Which type of risk allows the planner to make reasonable predictions about the probability of all possible outcomes?

Calculated Risk

__________________ is such a powerful and effective economic force that most marketers and indeed the entire country (U.S.) can accommodate a little ___________________.

Capitalism; socialism

Who said "You must know the past to understand the present and predict the future"?

Carl Sagan

An Apple branded product would be considered a ______ within Apple's product portfolio if it enjoyed high shares in a low growth market that requires little investment to develop

Cash Cow

If your organization, product, idea, and solution cannot be first-to-market or first-to-mind then be first in a category, including categories that your firm establishes. This principle, or law, is best described as the principle of:

Category

Category (correct)

Why should contemporary marketers be extremely judicious when selecting celebrities to endorse their brands?

Celebrities often do or say things that cause them to lose popularity or that would injure the image of the brand the celebrities are endorsing

positional goods

Certain well-branded products and services are increasingly being described as positional goods. Positional goods are usually also specialty goods. But not all specialty goods are positional goods. Positional goods are tangible products or intangible services or experiences perceived as valuable by consumers largely because other consumers occupying their same broad social sphere (social class membership; social status) cannot have or enjoy them. Nasty, yes, but part of human nature. Moreover, the marketing of positional goods is surprisingly beneficial for the overall economy. Positional goods are often known as luxury brands.

Which of the following C-words must be present before innovations can be successful? Consistency Change Courage Charity Cash

Change (correct)

_____ is always necessary for _____ to occur

Change, Progress

Which of the following factors does not influence the stage of a product's life cycle? Changing consumer tastes

Changing brand features

Which of the following factors does not influence the stage of a product's life cycle? Changing consumer tastes

Changing consumer tastes Changing competitive trends Changing brand features (correct) Technological changes All of the above are important factors

Marketing messages are conveyed by means of a __________ such as a salesperson, advertising media, website, blog, or public relations tools.

Channel of communication

What positioning strategy is being used when Lilly Pulitzer gained a contract for Target to sell her clothing line? What positioning strategy is being used when Lilly Pulitzer gained a contract for Target to sell her clothing line?

Channels

Various ways exist to differentiate brands successfully. Which way is best when seeking to differentiate brands?

Characteristics associated with brands Services associated with brands Channels associated with brands People associated with brands All of the above

Which of the following is not a good word to describe low brand prices?

Cheap

Which meat market has grown most since 1990?

Chicken

Which product has become a flashpoint in trade negotiations making it somewhat risky for marketers participating in international trade?

Chicken

Which product has become a flashpoint in trade negotiations making it somewhat risky for marketers participating in international trade?

Chicken (correct)

Which culture is the source of the idea that crises are composed in near equal parts of opportunities and threats.

Chinese

Which type of conditioning refers to the pairing of conditioned and unconditioned stimuli and to the creation of learned responses as a result?

Classical Conditioning

Pavlovian Responses, as first discovered by Russian scientist Ivan Pavlov [and his dogs, food and bell] are today better understood as:

Classical conditioning

The pleasurable feelings that often arise inside consumers' minds after they have purchased a new product often leads to the purchase of another product. This psychological process illustrates

Classical conditioning

Which type of conditioning refers to the pairing of conditioned and unconditioned stimuli and to the creation of learned responses as a result?

Classical conditioning

The pleasurable feelings that often arise inside consumers' minds after they have purchased a new product often leads to the purchase of another product. This psychological process illustrates

Classical conditioning (correct)

Which type of conditioning refers to the pairing of conditioned and unconditioned stimuli and to the creation of learned responses as a result?

Classical conditioning (correct)

Pavlovian Responses, as first discovered by Russian scientist Ivan Pavlov [and his dogs, food and bell] are today better understood as

Classical conditioning.

Pavlovian Responses, as first discovered by Russian scientist Ivan Pavlov [and his dogs, food and bell] are today better understood as:

Classical conditioning.

Amazon is currently leveraging its branding power to push customers to shop more at Whole Foods. Also, Apple and Goldman Sachs teamed up during 2019 to jointly issue a credit card. These are good examples of:

Co-branding

What term best describes what happens when two well-established brands from different firms are joined together in one product?

Co-branding

Which promotional example best illustrates the use of a push strategy? Coca-Cola advertising during a Super Bowl Coca-Cola promoting a 10% discount to end-user customers Coca-Cola paying retailers to display COKE-branded products in highly visible locations All of the above None of the above

Coca-Cola paying retailers to display COKE-branded products in highly visible locations (correct)

What is the situation where consumers' thoughts, beliefs and attitudes are inconsistent usually called - and definitely called inside this book?

Cognitive dissonance

Which stages belong to the traditional marketing research process?

Collect data (raw information).

Which segment purchases more books than any other segment in the U.S.?

College-educated African-American women

____________involve secret agreements or unspoken acts of cooperation between competing firms and usually result in higher final prices for customers.

Collusion practices

Inside the written Chinese language, crises are pictorially represented as:

Combinations of both opportunities and threats

Inside the written Chinese language, crises are pictorially represented as:

Combinations of both opportunities and threats (correct)

The best new ideas typically are derived from:

Combining new ideas

The term ______________________ captures the practical marketing mix activities that must be performed in order to actually bring a new product to its targeted market segments. Globalization Commercialization Conceptualization Production Introduction

Commercialization (correct)

_________________ are products produced by many different firms that struggle to achieve differentiation.

Commodity products

Cash cow brands:

Compete inside slow growth markets but boast high shares of those markets.

The highest levels of ____ occur throughout the entire marketplace during the "Maturity Stage" of the product category's product life cycle.

Competition

When marketers choose which market segments to target, they also choose their:

Competition

Marketing knowledge functions as the core foundation and source of ...

Competitive advantage

Successful differentiation usually generates a:

Competitive advantage.

_______________________ can be described as strong points of differentiation that firms either possess or seek to create through strategizing.

Competitive advantages

The _____________ method for budgeting advertising involves following suit, in terms of how much money is spend on advertising, with what competitors are doing. Affordable Percentage of sales Competitive parity Objective and task budgeting None of the above.

Competitive parity (correct)

Which statement is NOT true about a product category that is currently experiencing its "Decline Stage?"

Competitive pressures will remain constant at this point.

Which of the following words does not belong to the set of five criteria that can be used to identify the best NPD ideas.

Complex

The success of marketing messages depends, in large part, on how persuasive the messages are. Which characteristics usually must be present in order to make messages more persuasive? Comprehension (understandable) Connective Credible Contagious All of the above

Comprehension (understandable) Connective Credible Contagious All of the above (correct)

Which targeting strategy is the best option when marketing resources are limited?

Concentrated targeting

Honey badgers, the animal, best illustrate what key marketing success criterion?

Concentration

Marketers should strategically arrange their strengths and then target these advantages, their core competencies, against their competitors' comparative weaknesses. This principle, or law, is best described as the principle of:

Concentration

Concentration (correct)

Which test seeks to determine whether eventual new product users will either want or need the proposed product? Product use test Market test Segmentation and positioning test Concept test The "acid" test

Concept test (correct)

______________ is usually the first step in most strategic marketing planning processes (according to your book).

Conducting a SWOT analysis

The type of bias that encourages consumers to seek out evidence that supports what they already believe; to view any new facts or ideas that they encounter as further affirmation, and to discount or ignore bits of factual information that support alternative views is called:

Confirmation bias

When present, _____________________ encourages consumers to seek out evidence that supports their own beliefs.

Confirmation bias

Marketers should usually do everything reasonable and possible to make their messages more persuasive. Which key message trait emphasizes that persuasive messages should trigger an emotional or intellectual response?

Connectedness

Connectedness (correct)

The English word _________________ originates from the Greek word, sunseidesis, which itself means "to know with another." Ethics Morals Conscious Self-control

Conscious (correct)

Surrounding oneself, as a path to creativity, entails

Consciously immersing oneself around or with interesting people or ideas

Two primary schools of ethical philosophical thinking exist. They are:

Consequentialism (Utilitarianism) and Deontology

The term ______________________________ refers to the factors that influence the buying behavior of final consumers.

Consumer behavior

Which of the following factors should not be used to determine whether a consumer product is classified as a convenience, shopping, or specialty good?

Consumer effort expended The value of the product's intangible dimensions (correct) The frequency with which the product is purchased Extensiveness of marketing distribution Degree (or amount) of product comparison that occurs

Which type of goods is not typically associated with B2B marketing?

Consumer goods

Which statement best describes the true nature of "consumer goods"?

Consumer goods are purchased and used by end-use consumers in order to solve or satisfy their own problems, wants or needs. Consumer goods are purchased and used to solve or satisfy some other consumers' needs-wants-problems. Consumer goods are purchased and used by end-use consumers in order to solve or satisfy their own problems-wants-needs; or to solve or satisfy some other consumers' needs-wants-problems. (correct) Consumer goods are purchased at the end of B2B supply chains.

Who creates wants?

Consumer themselves

Who creates wants?

Consumer themselves (correct)

The emergence of new technology has fundamentally changed:

Consumer to consumer interactions Consumer to firm interactions Firm to consumer interactions All of the above (correct)

B2C marketing refers to situations where:

Consumers are involved in marketing as customers, and organizations are involved as marketers

Why do consumers typically choose certain brands rather than others?

Consumers choose the brand that, in their mind, offers the best solution to their problems.

The key aspects of promotional messages should be presented quickly to targeted audience because:

Consumers have short attention spans

The key aspects of promotional messages should be presented quickly to targeted audience because: Time is expensive Quick messages are more innovative Consumers have short attention spans Long messages are noisy The quicker the message the easier the comprehension

Consumers have short attention spans (correct)

Consumers usually move from one stage of the family life cycle to the next as they age. Consumers occupying each life cycle stage can be treated as a different market segment because:

Consumers' needs for different products and services generally change from one stage to the next. Key consumption-related demographic, attitudinal and belief, and psychographic traits may change from one stage to the next. Consumers' incomes may change. Consumption-related attitudes may change. All of the above.

Which one of the 4C's of persuasion emphasizes that persuasive messages should often motivate, or drive, recipients to share the message with others?

Contagiousness

Most innovations are ____in nature.

Continuous

Assume that a smartphone marketer company has developed a new smartphone for entry into its smartphone product line category. The new smartphone features superior voice recognition capability in comparison to previous versions. What kind of innovation is happening? Discontinuous Dynamically continuous Continuous Drastically continuous None of the above

Continuous (correct)

The sort of consumer goods that individuals purchase without much effort and that are highly available (widely distributed throughout the marketplace) called a ...

Convenience good

Which type of consumer good usually does not feature extensive distribution channels?

Convenience goods Shopping goods Specialty goods (correct) Unsought goods None of the above

______________________ are being used when independent organizations voluntarily agree to partner with each other and the partnership allows each firm to specialize in the performance of one or two core competencies. Conventional marketing systems Longer supply chains Vertical marketing systems Shorter supply chains Horizontal marketing systems

Conventional marketing systems (correct)

Making observations and predictions regarding how changes in the environment or cultural trends will lead to new hot opportunities is best summarized as:

Cool-hunting

Cooling-off regulations and laws

Which of the following phrases best captures those laws and regulations that allow consumers to extricate themselves from the consequences of purchases where those customers feel they were pressured into buying products they now regret? Lemon regulations and laws Cooling-off regulations and laws Take-back regulations and laws Return regulations and laws The Constitutional Bill of Rights

Cooling-off regulations and laws (correct)

CEO Jack Welch created a competitive advantage for General Electric by subdividing the company into strategic business units (SBUs) with individual strengths and concentrations. GE created a competitive advantage by focusing on:

Core Competencies

Core Competencies (correct)

Most products feature three levels. The three product levels are the:

Core benefit, incremental product, augmented product Micro benefit, actual product, augmented product Core benefit, actual product, supplemental product Core benefit, authentic product, augmented product Core benefit, actual product, augmented product (correct)

_____________________ are the truest, most basic problem-solving attributes associated with branded products.

Core benefits

The features, design, quality level, brand and packaging of branded products as well as their shapes and colors describes:

Core benefits Actual products (correct) Augmented products Differentiated products None of the above

___________ entails a given brand product's features, design, quality level, brand, and packaging as wells as, perhaps, its shape or color.

Core benefits The actual product (correct) The core product An augmented product None of the above

_______________ provide foundations on which differentiating marketing values can be established, promoted and delivered. Supply chains Success factors Key success factors Core competences Marketing concept

Core competences (correct)

The concept known as _____________________ can provide foundations on which differentiating marketing values can be established, promoted, and delivered in order to provide a base (foundation) from which firms can establish sustainable competitive advantages.

Core competencies

The phrase _______________ represents something that marketers do different and better than their competitors and something that also permits those marketers to deliver more appealing values (or solutions) to targeted segments.

Core competencies

Core competencies (correct)

Strategy exists at two levels. These two levels are

Corporate and functional level

Strategy exists at two levels. These two levels are:

Corporate and functional level

Strategy exists at two levels. These two levels are:

Corporate and functional level (correct)

The presence of _____ permit marketers to charge lower-than-average prices while also possibly growing the market shares of their brands.

Cost-based leadership advantages

The pricing tactic that involves adding standard markups to whatever amounts, cost-wise, are required to make, distribute, promote and/or merchandise products is called:

Cost-plus pricing

Which of the following firms (and brands) is not an example of a pyramid scheme?

Costco

______________________________ entail(s) "Being impeccable with your words, not taking everything personally, not making assumptions; particularly about the other party's motivations, and always doing your best."

Covenant business promises

Humans simultaneously _________________ and ______________ the new?

Crave, fear (correct)

The absolute best way to ensure huge marketing success is to:

Create a solution for a problem that customers don't realize they have yet.

Brands seek to create perceptions that differences exist between their brand and other brand. These differences may be real or imagined. This process is best described as ...

Creating differentiation

Successful marketers must master various processes that generate need-satisfaction. What is the other, opposing, set of processes that marketers must manage:

Creating real or imagined customer wants and problems

What is the best way to ensure huge marketing success?

Creating solution to problems customers did not realize they have yet

What is the best way to ensure huge marketing success?

Creating solution to problems customers did not realize they have yet (correct)

When honored, which marketing law leads to the greatest marketing success?

Creating solutions to new "problems," "problems" marketers themselves have created

"Market positioning," as part of the marketing management process, involves:

Creating the desired image for the brand in the minds of the firm's customers

"Market positioning," as part of the marketing management process, involves:

Creating the desired image for the brand in the minds of the firm's customers.

Most individual professional marketers should strive to earn a reputation for being: Courageous Creative Efficient Consistent Credible

Creative (correct)

The process of ________________________ entails the effects that result whenever long-standing products or processeses or solutions become obsolete and get displaced by new and superior products (or solutions).

Creative destruction

What economics concept best describes describe the consequences that arise when new types of technologies successful enter existing markets?

Creative destruction

Creative destruction (correct)

Which of the following statements about creativity is not true (false)?

Creative people are more difficult to work with because they are so "scientific-like in nature."

Which of the following statements about creativity is not true (false)? Creative people generally work harder than less creative people. Creative people are usually autodidactic. Creative people generally experience the same basic stimuli as everyone else Creative people are more difficult to work with because they are so "scientific-like in nature." Creative people usually combine or recombine existing ideas and things.

Creative people are more difficult to work with because they are so "scientific-like in nature." (correct)

The act of ______________ entails the ability to produce intangible or tangible things that are novel or original and useful or adaptive.

Creativity

The word ____ is best defined as seeing or experiencing the same stimuli as everyone but being willing and able to think about and develop something new that others don't think about or develop.

Creativity

Which asset contributes the most to marketing professionals' ability to produce successful innovations?

Creativity

_____________ entails experiencing the same stimuli as everyone else but being willing and able to develop something new that others do not consider. Critical thinking Creativity Innovativeness Blending Breaking, blurring, and blending

Creativity (correct)

Which of the following is not a trade-off that strategic planners must consider when making a decision?

Creativity and diversity

Which of the following is not a trade-off that strategic planners must consider when making a decision?

Creativity and diversity (correct)

The primary reason why the majority of messages promoted by the news media are crisis-driven in nature is because: The world is full of crises. People do not like to hear positive news. Crises usually attract people's attention. The news media are presenting the truth about the world. People are less interesting in positive information.

Crises usually attract people's attention. (correct)

Which answer best explains how culture affects the acceptance of specific marketing mix stimuli?

Cultural membership functions as a driving factor on consumers' acceptance or rejection of marketing mix stimuli.

When a collective group's attitudes and beliefs change environmental dimension has been altered?

Cultural trends

What sort of human decisions are most subject to influence by marketers?

Cultural-environmental factor-induced decisions

________ is (are) an entire set of values, ideas, or attitudes shared among or learned from the members of a group.

Culture

________ is/are defined as the entire set of values, ideas, or attitudes shared among or learned from the members of a group

Culture

Which of the following stimuli is controllable by marketers?

Culture Social factors Personal factors None of the above

_________ are an entire set of values, ideas, or attitudes shared among or learned from the members of a group.

Cultures

Several factors should be considered when marketers are seeking to determine the most attractive segments to target. Which of the following always belongs among this set of factors?

Current size/future growth prospects

What core competency creates feelings of closeness to a brand?

Customer intimacy

When one organization knows more about its customers than competing organizations know about their customers the better informed organization enjoys opportunities to leverage ---------------- and to develop superior differentiation.

Customer intimacy

The satisfaction of ________________ typically is emphasized during B2B marketing efforts. By contrast, the satisfaction of _________________ typically is emphasized during B2C marketing efforts.

Customer needs, customer wants

Which phrase describes an element that exists inside all marketing organization's micro-environments?

Customer relationships

The adoption of Birkenstock sandals as a stylish shoe among college-study consumers illustrates a(n)_______ .

Customer trend

____________________ refers to changes in targeted segments' customer attitudes, likes/dislikes, and preferred lifestyles.

Customer trends

____________________ refers to changes in targeted segments' customer attitudes, likes/dislikes, and preferred lifestyles.

Customer trends (correct)

The satisfaction of ________________ typically is emphasized during B2B marketing efforts. By contrast, the satisfaction of _________________ typically is emphasized during B2C marketing efforts.

Customer wants, organizational wants Customer needs, organizational needs Organization needs, organizational wants Customer needs, customer wants (correct)

The ever-present need to manage demand successfully is why supply chain mangers have moved from being _______________ to being _________________.

Customer-aware; customer-driven

Positioning entails the way a branded product is defined by _______________________ on important attributes.

Customers

Value-based marketing is based on strategically-organized marketing activities that seek to create more true value for ______________.

Customers

Value-based marketing is based on strategically-organized marketing activities that seek to create more true value for ______________. Firms Society Customers The economy

Customers (correct)

Emerging technology has a profound impact on marketers' practices. Which of the following answers best captures how technology has impacted the practice of marketing? Technology has impacted how:

Customers connect with each other Marketers connect with customers Customers connect with marketers Firms collect information from customers All of the above (Correct)

According to this Module, what is the most precious resource for most marketers?

Customers' attention

The most precious marketing resource in today's noisy, crowded markets is

Customers' attention.

What major factor that strategic marketers should always consider - as they plan - remains uncontrollable>

Customers' minds

Some consumer segments are more attractive than other segments. Which segment is considered as the most desirable family life cycle-based segment for marketers of discretionary goods? (Discretionary goods include products or services that people are not required to buy [health care, or food] but instead voluntarily choose to buy.

DINKs

__________________ has made more precise and refined market targeting possible.

Data Mining

In marketing, the word "telling" in Truth-Telling means giving customers full and fully-accurate disclosure of information to the extent that the information is necessary for consumer to make well-informed, well-grounded, and safe purchase decisions; this according to an ethical theory developed in large part by----------· Aristotle Ayn Rand Jeremy Bentham David Strutton Hammurabi's Code

David Strutton (correct)

What term describes what happens when marketers attempt to decrease demand for a product; i.e. cigarettes or alcohol?

De-marketing

Any marketing organization's sunk costs and switching costs will most likely need to be evaluated during which PLC stage?

Decline

What environmental trend is contributing most to the increasing loneliness of American teenagers?

Decrease in human-to-human connectednesss. (correct)

___________________ products are the most difficult to market.

Deficit

What is the first step in the marketing research processes?

Define the research problem

The number of customers who want to purchase a specific product inside any market is best described as:

Demand

Which of the following factors does not increase the risk of NPD failure?

Demand within a target segment is underestimated.

Which word or phrase describes an entity that should be included inside macro-environments?

Demographics

What strategic phrase most suggests that if marketers get and stay ahead of demographic trends it will be difficult for them to lose?

Demographics are destiny

What strategic phrase most suggests that if marketers get and stay ahead of demographic trends it will be difficult for them to lose?

Demographics are destiny (correct)

Numerous "variables" or bases (also known as criteria) can be used to profile marketers and create market segments. The variable-base-criteria most closely associated with the income, age, gender, or zip codes of targeted customers is called:

Demographics.

Laundry detergent stories that illustrate how their brands clean clothes whiter and brighter are a good example of: Technical/expertise /scientific evidence-based portrayals and story appeals Testimonial evidence/endorsement portrayals and story appeals Personality symbol-based portrayals and story appeals Musical portrayals and story appeals Demonstration-based portrayals and story appeals

Demonstration-based portrayals and story appeals (correct)

The __________________ philosophy of ethics suggests ethical rules should be established and that moral guidelines should then be followed. Relativistic Deontological Utilitarian Enlightened self-interest

Deontological (correct)

What sort of marketing research knowledge explains what is going right or wrong, and why people - such as customers - choose what they choose?

Descriptive knowledge

________________ essentially diagnoses and explains what is going right or wrong, and why. By contrast, _______________________ informs marketers about what they should do.

Descriptive knowledge, prescriptive knowledge

A critical design decision that managers must always make inside supply chains is whether to ... Design short or long supply chains Hire more supply chain professionals Target international markets Partner with competitors and collaborators None of the preceding are correct

Design short or long supply chains (correct)

---------- products provide both immediate satisfaction and long-run benefits to customers. Deficit Desirable Pleasing Salutatory

Desirable (correct)

What is the one best asset that most marketers should seek to own and control?

Desirable positions inside consumers' minds

What is the one best asset that most marketers should seek to own and control?

Desirable positions inside consumers' minds (correct)

Products that provide both immediate satisfaction and long-run benefits to customers, and that prove rather easy to market; are known as: Salutary products Desirable products Pleasing products Deficit products Puffery products.

Desirable products (correct)

Which product type provides consumers with both immediate and long-term satisfaction? Desirable products Salutary products Deficit products Pleasing products

Desirable products (correct)

The positions that marketers choose to pursue should be based on ______________ differences.

Determinant

When the dimensions (or attributes) in new products differ from the dimensions (or attributes) present in existing products, and those differences are important to targeted customer segments those dimensions can be described as (choose the best answer): Differentiated Diverse Conflicting Determinant Divergent

Determinant (correct)

Which of the following descriptions of marketing information systems is wrong? Marketing information systems:

Determine and acquire exactly the sort of information that marketers require to properly develop and execute strategic marketing plans. Deliver the right research knowledge to marketing decision-makers. Balance the information that would prove "nice-to-have" with the information that decision-makers "must-have," and can afford to attain. All three preceding answers are correct.

The premise of __________ theory is that the threat of using strong weapons, such as advertising, against an enemy prevents the enemy's use of the same weapons (here, again, advertising).

Deterrence

A target market segment, or target segment, is a group of potential customers for which marketers should generally:

Develop a unique and uniquely desirable marketing mix

A primary goal of marketers, as they develop strategies, should entail:

Developing products that already align with values that targeted segments already embrace and seek

Which of the following product categories does the best job of illustrating the powerful ability of marketing to create meaning and value for a product in the minds of consumers?

Diamonds

Marketing research findings are often far from absolutely accurate. Why?

Differences often exist between how many resources firms receive to conduct the research versus how many resources they actually need. Differences often exist between what firms can measure and what firms want or need to know. Predicting future consumer behavior is difficult. All of the above

What characteristic of attractive market segments refers to a segment's ability to respond in identifiable different ways than other segments?

Differentiable

Think market targeting. The strategy in which marketers target a number of different market segments and target each segment through a uniquely designed marketing mix is called the ___________

Differentiated strategy

Think market targeting. The strategy in which marketers target a number of different market segments and target each segment through a uniquely designed marketing mix is called the ___________.

Differentiated strategy

How is the name of the marketing strategy that entails pursuing multiple segments at the same time?

Differentiated targeting

Which targeting approach usually costs the most to execute?

Differentiated targeting

Which targeting approach works best for products or brands that have entered the mature stages of their product life cycles?

Differentiated targeting

_____________ entails pursuing multiple (two, three, four, or more) segments at the same time. Differing (uniquely-designed) market mixes are targeted at each segment marketers elect to pursue. Each marketing mix should be strategically designed (i.e., mixed) such that it delivers unique—and uniquely desirable—value to members inside the targeted segment.

Differentiated targeting

Marketers can establish brand personalities and then use those brands' personalities for purposes of achieving:

Differentiation

Marketers can establish brand personalities and then use those brands' personalities for purposes of achieving: Segmentation New product development Targeting Differentiation

Differentiation

Positioning always comes down to __________________ in the end.

Differentiation

The act of __________ entails strategic attempts to create the perception/reality that one brand is different from and better than alternative branded solutions. Differentiation is inextricably linked with positioning.

Differentiation

When building profitable services, marketers should usually avoid:

Differentiation Reliability Innovation Price competition (correct) None of the above

Ethical reputations are ______________ to create and _____________ to destroy. Easy difficult Difficult; easy Easy; easy Difficult; difficult None of the above is correct

Difficult; easy (correct)

The word _____________ is best understood as a natural process whereby bad and good news move from areas of high concentration to areas of lower concentration.

Diffusion

__________ is a natural process whereby molecules, atoms, and bad- or good-news messages move from regions of high concentration to areas of lower concentration.

Diffusion

The word _____________ is best understood as a natural process whereby bad and good news move from areas of high concentration to areas of lower concentration. Contagion Viral Conversations Gossip Diffusion

Diffusion (correct)

Which of the following is not an opportunity cost that results when consumers participate in social networking?

Digital interactions with friends

Which of the following sources of differentiation does not represent one of the three ways to achieve sustainable competitive advantage and successful positioning?

Disciplinary structural

Which type of innovation is most disruptive?

Discontinuous

Three types of innovations exist. The three types are: Discontinuous, dynamically continuous, and evolutionary innovations Discontinuous, dynamically continuous, and continuous innovations Evolving, dynamically continuous, and continuous innovations Discontinuous, incremental continuous, and continuous innovations None of the above

Discontinuous, dynamically continuous, and continuous innovations (correct)

The activity known as _____________________________ occurs when a marketer inserts the same product into different packaging so that they can charge different prices to different income level customer segments.

Discriminatory pricing

What is the final stage (or level) inside supply chains that manage the production, marketing and delivery of tangible products?

Disposing of or recycling old products

Recently Audi released a new line of electric vehicles and made the promise of developing electric vehicles for all the categories in which Audi competes. Audi expects to target new consumer segments that characterized by extremely high level of environmental awareness. Which type of growth strategy best explains Audi's innovations?

Diversification

At times marketers develop new products and target the new products toward new target segments. The tactic combines the market development and product development growth strategies. Video game marketers pursued this strategy when developing new, more relationally-oriented (as opposed to violence-oriented) games, and targeting the new products toward female gamers. This example illustrates a:

Diversification Growth Strategy

A technology firm began producing a gaming device and integrated this new product into its product portfolio. The firm offered this product to a completely new market that it (this firm) has never served before. This example illustrates a:

Diversification strategy

Market segmentation involves a process of:

Dividing broader, larger, more heterogeneous markets into narrower, smaller, more homogeneous market segments

Successful market segmentation entails the act of:

Dividing heterogeneous large markets into more homogeneous and small groups.

Market segmentation is the process of:

Dividing markets into more homogeneous groups

Market segmentation is the process of:

Dividing markets into more homogeneous groups (correct)

The marketing segmentation process primarily entails and act of:

Division

The marketing segmentation process primarily entails:

Division

What does the Chinese Proverb "Dig wells before you are thirsty" imply?

Do not wait until is too late. Instead, plan ahead

What does the Chinese Proverb "Dig wells before you are thirsty" imply?

Do not wait until it is too late, Instead, plan ahead

What famous brand was used to illustrate the point that "marketers should own the trend when the trend's their friend?"

Dockers (correct)

AMC's inclusive strategy for autistic children and their parents provides a good example of: Environmental marketing The marketing concept Doing well by doing good Social media marketing None of the above.

Doing well by doing good (correct)

According to Jack Welch, if your firm doesn't have a competitive advantage, then what it should do

Don't compete

According to Jack Welch, if your firm doesn't have a competitive advantage, then what it should do

Don't compete (correct)

Situations arise where one firm prices below its actual cost of making and marketing a product in order to injure another firm and eventually to eliminate that marketer as a competitor. This unethical practice is known as

Dumping

What recent development in the modern global marketplace has drastically influenced brand loyalty?

E-WOM

The proliferation of ________ has created market conditions in which dynamic pricing is becoming an increasingly popular choice among strategic marketers.

E-commerce

What is the relationship between Marketing and Economics?

Each addresses exchange-related decision-making

Which answer represents/captures an important environmental dimension?

Each answer represents/captures an important environment dimension

Which of the following elements is not an ingredient for the service-related marketing mix?

Each element is part of the marketing mix for services.

The main goal of promotion is to:

Each preceding answer captures a main goal

What does Apple have in common with Big Pharma?

Each preceding choice represents a "commonality" between the two entities

Which of the following statements about strategy is true?

Each preceding statement is true

Which of the following statements about strategy is true?

Each preceding statement is true (1. understand how planning requires preparation but that planning creates preparation, 2. move quickly but with patience, 3. almost remember and honor the importance of relationships)

The presence of boredom facilitates greater creativity inside people's lives. One problem, however, is that today too few people permit themselves to get bored.

Each statement is correct.

Unique selling propositions differentiate one brand from other competing brands. Within targeted segments, an existing recognition, or merely the perception, that particular brands are the lowest-cost, highest-quality, or first-ever of their kind would function as USPs. UPSs exist whenever one brand is perceived to feature a determine factor that competitor brands don't have. The positioning advantages leap off the page.

Each statement is true.

Unique selling propositions differentiate one brand from other competing brands. Within targeted segments, an existing recognition, or merely the perception, that particular brands are the lowest-cost, highest-quality, or first-ever of their kind would function as USPs. UPSs exist whenever one brand is perceived to have what (a determinant factor) competitor brands don't have. The positioning advantages leap off the page.

Each statement is true.

What outcome is indispensable to the success of marketing organizations, which includes all organizations, of course?

Earned differentiation

The primary objective for the vast majority of pricing strategies entail:

Earning targeted profit margins returns.

Barriers-to-entry were originally a/ an

Economic concept describing existing obstacles that prevent new competitors from easily entering new markets.

Which discipline best functions as the baby mama of the discipline we call marketing?

Economics

Which discipline best functions as the baby mama of the discipline we call marketing?

Economics (CORRECT)

Economies of scale

___________ refer(s) to the reduced costs associated with making and marketing products on a per unit that essentially automatically emerge from increased total output of product and their marketing processes. Opportunity costs Sunk costs Barriers to entry Economies of scale None of the above Note: Clicking any button other

Economies of scale (correct)

The reduced manufacturing, distributing, merchandising, and marketing costs that naturally occur on a per unit basis when an increased total output of products and marketing processes is generated best described by the phrase ----------·

Economies of scale.

The word _______________ means rules or principles should prove useful in contexts having nothing to do with supply chains. Egocentric Mutuality Ecumenical Reciprocity Deontological

Ecumenical (correct)

The concept known as ___________________ allows manufacturers to specialize on making fewer products in far larger quantities.

Efficiency

The ______________________________ causes consumers to ascribe irrationally high values to items they already own. Anchoring effect Attribution error effect Fundamental effect Attribution bias effect Endowment effect

Endowment effect (correct)

Consumer beliefs:

Entail (involve) descriptive thoughts about a stimuli.

positioning (the act of)

Entails executing the necessary strategic steps to ensure that organization's market mix offering generates and delivers clear, distinct, and desirable images inside targeted segments' collective minds relative to the images that competitors have sought to create. Positioning is inextricably linked with differentiating.

_________________ is an activity that entails establishing a business or businesses, taking on the associated financial risks, and doing these things with the hopes of earning market share and profits foremost in one's mind.

Entrepreneurship

___________________________ consists of the surroundings in which people, animals, plants and organizations strive to thrive.

Environment

__________ are environmental trends that are breaking favorably for marketers because they enhance the success prospects of their current strategic marketing plans or future strategic marketing plans that they could develop.

Environmental opportunities

Environmental opportunities (correct)

The process of observing, researching, and interpreting various uncontrollable environment trends that might impact an organization, is known as:

Environmental scanning

The purpose of is to identify trends that pose opportunities or threats that increase or decrease marketers' survival and future success prospects.

Environmental scanning

_______________________________ helps firms identify trends that can create opportunities or threats for a strategic organization.

Environmental scanning

Which statement is true about environmental scanning?

Environmental scanning can be used to generate actionable market information that strategic planners can use.

The emergence of cremation as popular way of dealing with the passing of loved ones represents an _________ to funeral homes as they seek to market and profit from their services?

Environmental threat

__________ are trends that are breaking badly for marketers because they degrade the success prospects of their current strategic marketing plans or future strategic marketing plans that marketers could develop. Stated differently, existing or emerging environmental trends moving against the best interests of individual marketing organizations or entire marketing sectors.

Environmental threats (correct)

______________________ can be both positive for one SBU in the organization and negative to another SBU inside the same firm.

Environmental trends (correct)

What is an environmental opportunity?

Environmental trends that are breaking favorably for the success prospects of marketers' current strategic marketing plans or the ones they can develop in the future.

What is an environmental opportunity?

Environmental trends that are breaking favorably for the success prospects of marketers' current strategic marketing plans or the ones they can develop in the future. (correct)

_______ consist of the surroundings in which people, animals, plants, or organizations live or operate—and in which those persons, animals, plants, or organizations strive to survive or hopefully thrive.

Environments

__________________ consist of the surroundings in which people, animals, plants or organizations live or operate - and in which those persons, animals plants or organizations strive to survive or hopefully thrive

Environments

Environments (correct)

Who said "You would be amazed to find how often we mislead ourselves, regardless of how smart we think we are, when we attempt to explain why we are behaving the way we do?

Ernest Dichter

Which step in the pre-planning process entails aligning resources, actions and energies to accomplish the organizations goals?

Establishing priorities

________________ often arise in exchanges between firms and their customers, other firms, or society. (Choose the absolute best answer)

Ethical conflicts

Which standard establishes the highest standard for morality? Regulatory standards Ethical standards Opportunistic standards Local, state and national policy standards Legal standards

Ethical standards (correct)

---------- addresses questions about and/or situations involving decisions regarding the right or wrong choice for marketers or B2C/B2B customers to make. The right choice would generally be deemed moral; the wrong choice would generally be deemed either as immoral or less moral.

Ethics

____________ arise(s) whenever and wherever questions or doubts about the right or wrong choice to make in a particular situation arises

Ethics

____________ arise(s) whenever and wherever questions or doubts about the right or wrong choice to make in a particular situation arises. Ethics Morality Marketing Honesty None of the above

Ethics (correct)

Ford Motor Co.'s decision to stop producing traditional sedan passenger cars illustrates a strategic response to:

Ever-changing customer preferences

Marketing organizations include:

Every organization

Marketing organizations include:

Every organization (correct)

The market consists of:

Everyone who has purchased or who might purchase a given product (brand).

The limited (three to five) group of brands that come to mind first when problems that brands from known product categories can solve arise inside customers' lives is best known as a

Evoked set

The limited (three to five) group of brands that come to mind first when problems that brands from known product categories can solve arise inside customers' lives is best known as a:

Evoked set

Top-of-the-mind-awareness, also known as coming-to-mind-first because, apparently, a given brand belonged inside the customers' __________ for that particular product category. Respond using the exact right concept from the list provided.

Evoked set

When Monica thinks about soft drinks, the first brands that come to her mind are Coke, Dr. Pepper, and Pepsi. These three soft drink brands are known as her

Evoked set

The term _________ refers to the limited, usually three to five, number of brands that come-to-mind first when problems that brands from known product categories can solve, arise inside customers' lives

Evoked sets

What is the core concept of marketing?

Exchange

________ involves a trade of things of value between buyer and seller so that each is better off.

Exchange

_________ involves a trade of things of value between buyer and seller so that each is better off

Exchange

__________ involves a trade of things of value between buyer and seller so that each is better off.

Exchange

What element is most fundamental and therefore most important to the execution of most types of marketing activities? Creativity Connectedness Exchange Productivity Promises

Exchange (correct)

_______________________ exist as the simple and not-so-simple element that connects everything together inside marketing settings and contexts. Intermediary relationships Exchange relationships Downstream relationships Interconnected relationships Determinant value connections

Exchange relationships (correct)

Buying a house is an example of which type of problem solving?

Extensive problem solving

What sort of consumer problem-solving behavior occurs in situations where the best solution is not already known but it is critical that the absolute best brand solution be found?

Extensive problem-solving

A good or a product is an entity or a thing that has intangible attributes that customers can perceive through their five senses.

FALSE

A primary truth that frames and explains how decisions are made inside modern capitalist markets is that consumers primarily seek utility (usefulness, or pure problem-solving ability) from the products they buy. This statement is:

FALSE

Almost everyone cheats given the presence of one key condition. (Read this question carefully, no one is trying to fool anyone.)

FALSE

Automation bias often occurs inside marketing research efforts and is usually viewed as a desirable outcome.

FALSE

Beliefs are more enduring and influential on CB than are attitudes.

FALSE

Bending-inside NPD settings-entails taking whole things apart and then re-assembling something new and useful from the fragments, as in re-engineering.

FALSE

Commodities are less likely to exist in raw or unrefined product form—such as pork bellies or wheat—than in refined, finished, and branded product form—such as Jimmy Dean pork sausage or Bunny Bread

FALSE

Consumers are much more likely to engage in word of mouth (WOM) when they have a positive experience with a brand

FALSE

Descriptive knowledge informs marketers about what they should do. Descriptive knowledge identifies and suggests the logical next strategic steps that marketers should pursue.

FALSE

Differentiation is critical to any brand and/or organization. Yet it's impossible to create a differentiation strategy for commodities such as rice, sugar or salt. Is the second statement true or false?

FALSE

Evangelical is an ancient Latin word that describes anyone who spreads bad (or negative) news, as in a WOM context.

FALSE

Icebergs were metaphorically used to describe and summarize the sort of relationship that exists between marketers and their environments. Is the preceding statement:

FALSE

If you do not have a strategy yet, it is better to be honest and let the public know that you are working on it.

FALSE

In statistical analyses, often enormous amounts of numbers are compressed into larger, but more meaningful, understandable and actionable numbers.

FALSE

Information represents the truest and most impactful operant resource and source of potential advantage for marketers. Marketing information operates as the foundation for competitive advantage (at individual or organization levels) and for economic growth at micro [individual organizations] or macro [entire economy/market] levels.

FALSE

Lowering prices only works well as an ongoing pricing strategy if firms are continuously engaging in successful NPD

FALSE

Macro-environments can also be described an "internal-environments."

FALSE

Macro-environments consist of organizations' (a) customer relationships; (b) relationships with suppliers and other marketing intermediaries (together, summarized as the supply chain); (c) competitors; (d) relationships with various publics (i.e., stockholders, public interest groups—who may or may not support what the firm is doing or plans to do), and so forth.

FALSE

Many successful organizations exist whose success is not largely grounded in marketing.

FALSE

Market-penetration pricing is best understood as setting premium prices; as going high.

FALSE

Marketing organizations generally pay high premiums (prices) for public relations press releases.

FALSE

Marketing organizations should strategically develop unique and uniquely desirable marketing mixes for most of the segments they strategically choose to target.

FALSE

Marketing research always allows marketer to be make more accurate bets about future human behaviors.

FALSE

Micro-environments primarily consist of demographic, economic, natural, technological, and/or cultural environments. Macro-environmental factors typically harbor and generate threats and opportunities for organizations. Key macro-environmental dimensions include, for example, the economy, society, culture, demographics, technological, governmental/regularity factors, and so forth.

FALSE

Over-promising and under-delivering—in terms of the value a brand actually provides—often represents a wonderful marketing strategy because it allows marketers to manage expectations.

FALSE

Perceptions are a set of realities that influence how a consumer makes sense of stimuli as they arise inside their environments

FALSE

Positioning is tied closely to differentiating, but when products have been successfully positioned they have not necessarily been successfully differentiated

FALSE

Positively-framed marketing messages are generally more persausive than negatively-framed marketing messages.

FALSE

Prescriptive knowledge describes changing trends—say, changing customer likes or dislikes; or economic surges and declines. Prescriptive knowledge diagnoses and explains what is going right or wrong, and why.

FALSE

Primary information uses data that has already been collected for other purposes.

FALSE

Secondary marketing research information is new or original information (before the marketing research was conducted it did not exist).

FALSE

The absence of a religious preference inside consumers' lives do not change their purchasing preferences.

FALSE

The concept test is conducted to determine whether the proposed product that would emerge if the idea (the concept) can be successfully commercialized through the firm's current or prospective marketing mix.

FALSE

The marketing concept is a business philosophy that puts the wants and needs of customers first even in situations where organization does not profit from the marketing activities that executed to solve customers' problems (and wants & needs).

FALSE

The presence of switching costs makes it easier for customers to switch from old to new products, or for that matter, switch to from old to new supply chain partners.

FALSE

The product life cycle (PLC) concept applies only to brands, as opposed to the entire product category in which brands complete against other similar brands.

FALSE

The same opinion leader generally enjoys the opportunity to influence consumers' thoughts and decisions across a wide range of product categories.

FALSE

The success of B2B marketing efforts, generally, is driven by the satisfaction of customer wants. The success of B2C marketing efforts, generally, is driven by the satisfaction of customer needs.

FALSE

What an individual wants is the condition of perceived deprivation.

FALSE

When consumers choose to select nothing at all, they have not made a choice. Is this statement true or false?

FALSE

When firms sufficient resources, it becomes relatively easy to earn success along all three differentiation strategies.

FALSE

Whenever research metrics are used, marketers can be confident that the information they have generated is perfectly accurate.

FALSE

Almost everyone cheats given the presence of one key condition. (Read this question carefully, no one is trying to fool anyone.) --TrueFalse

FALSE (correct)

Bending-inside NPD settings-entails taking whole things apart and then re-assembling something new and useful from the fragments, as in re-engineering. --TrueFalse

FALSE (correct)

Icebergs were metaphorically used to describe and summarize the sort of relationship that exists between marketers and their environments. Is the preceding statement:

FALSE (correct)

Macro-environments can also be described an "internal-environments."

FALSE (correct)

Managing the marketing mix is similar to managing pricing insofar as both the marketing mix and prices can be used as tools that create and capture value from customers. --TrueFalse

FALSE (correct)

Market-penetration pricing is best understood as setting premium prices; as going high. --TrueFalse

FALSE (correct)

Micro-environments are easy to control, while macro-environments are not controllable.

FALSE (correct)

Most B2B marketers should never use both push and pull marketing promotion strategies at the same time. --TrueFalse

FALSE (correct)

Most successful new product developmental efforts entail making and processing substantial changes to existing products. --TrueFalse

FALSE (correct)

Who said "The only thing we have to fear is fear itself?

FDR

Strategic planners must manage which type of risk?

Failing to address a threat Missing out on an opportunity

Research has shown that one moral characteristic is highly important to almost all consumers. What characteristic?

Fairness

What season is the most common time for consumers to make new resolutions?

Fall (correct)

Perceptions are a set of realities that influence how a consumer makes sense of stimuli as they arise inside their environments

False

Positioning is tied closely to differentiating, but when products have been successfully positioned they have not necessarily been successfully differentiated.

False

The market segment and the market share are always equal, or nearly so.

False

An effective combination of branding, product development, promotion and positioning efforts often create _________________. Social goods False needs Excessive wants Quality products Underpriced goods and services

False needs (correct)

Societal critics have often rightfully accused marketers of creating ______________ and too much _________________ inside domestic markets.

False needs; materialism

Why are some chicken farmers increasingly interested in improving the quality of life for their birds?

Farmers are also marketers who listen and respond to new consumers' needs and wants

_________________________ is a term marketers use to indicate inexpensive apparel designs that move quickly from catwalks to stores (websites).

Fast fashion

_________________________ is a term marketers use to indicate inexpensive apparel designs that move quickly from catwalks to stores (websites).

Fast fashion (correct)

Generally, what is the emotion that people typically feel when they face change?

Fear Thrill Excitement Anxiety All of the above (correct)

A marketer's use of __________ suggests to customers that they can avoid some negative experience by purchasing and using a specific branded product or by changing their behavior. Fear appeals Sex appeals Humorous appeals Family appeals Coercive appeals

Fear appeals (correct)

Marketing message are often designed to make people ______________ rather than _______________.

Feel, think

Customers are more likely to purchase something when they are given _____________ choices.

Fewer

Customers are more likely to purchase something when they are given _____________ choices. More Fewer Unique Unusual, yes, freaky, edgy or even illicit Superior

Fewer (correct)

The marketing law known as "Category" explains that, to be successful

Firms or brands should establish a category in which they can be first

The marketing law known as "Category" explains that, to be successful:

Firms or brands should establish a category in which they can be first

The marketing law known as "Category" explains that, to be successful:

Firms or brands should establish a category in which they can be first.

The marketing law known as "Category" explains that, to be successful:

Firms or brands should establish a category in which they can be first. (correct)

The ______________ step in creating an effective advertising message entails identifying key points of differences. First Second Third Fourth

First (correct)

The Pareto Principle suggests that marketers should segments markets into ______________ group(s) based primarily on ________________.

Five; usage rates.

The process through which raw materials, component parts, and eventually finished goods are able to ___________ downstream should be _________________ in nature.

Flow; seamless

Extreme differentiating and positioning value is associated with owning something; specifically, owning a word inside the mind of a targeted market segment. This principle, or law, is best described as the principle of:

Focus

Google, Kleenex, and Band-Aid are all examples of this marketing principle, whereby a brand develops ownership of a word:

Focus

What asset (skillset) is needed most as planners seek to gather. useful strategic marketing knowledge and to exploit the resulting insights?

Focus

Focus (correct)

Google, Kleenex, and Band-Aid are all examples of this marketing principle, whereby a brand develops ownership of a word:

Focus (correct)

Entities known as __________________________________ are designed and executed to secure consumer perceptions and insights about particular topics or areas of interest in non-threatening environments.

Focus group discussions

Austrian-born Ernest Dichter, like his mentor a Freudian, was best known for pioneering the process known as:

Focus groups

Small gatherings of deliberately selected people who participate in planned discussions that are intended to secure consumer perceptions about particular topics are known as:

Focus groups

The quote "When absolute superiority is not available produce a relative one at the decisive point by making skillful use of the resources you have" suggests firms should:

Focus, concentrate on doing what they do best

The quote "When absolute superiority is not available produce a relative one at the decisive point by making skillful use of the resources you have" suggests firms should:

Focus, concentrate, on doing what they do best.

The quote "When absolute superiority is not available produce a relative one at the decisive point by making skillful use of the resources you have" suggests firms should:

Focus, concentrate, on doing what they do best. (correct)

Which of the following is not a process or an activity associated with strategizing?

Focuses exclusively on external threats

Changes do not always represent progress, but change is always necessary:

For progress to occur

Changes do not always represent progress, but change is always necessary:

For progress to occur (correct)

When referring to sales promotions, "near-time" customer responses would usually involve____________________________ hours.

Forty-eight to seventy-two

As illustrated in your book, how many stages make up the product life cycle concept?

Four

When audiences are ______________, programming that can pull a large audience can still command a high price for its ______________________ platform.

Fragmenting, advertising (correct)

Consumer sovereignty reflects consumers':

Freedom to choose

Which of the following positive (desirable) outcomes is least likely to arise when marketers are creative and deliver successful new products?

Fresh and fair feelings

New products that are most likely to succeed are those that are:

Fresh and familiar (correct)

The overarching goal of supply chain activities is to create and sustain flows that operate as ____________ as possible.

Friction-free

The overarching goal of supply chain activities is to create and sustain flows that operate as ____________ as possible. Quickly Parsimoniously Frugally Friction-free Cheaply

Friction-free (correct)

positioning (two perspectives)

From customers' perspectives, positioning entails the way a branded product is defined by consumers on important attributes. Yet, from marketers' perspective, positioning might be viewed as places brands occupy inside consumers' minds; relative to places occupied by other competing brands.

Business strategies exist at two levels. Marketing planning is an example of which level of business strategy?

Functional Strategy

Business strategies exist at two levels. Marketing planning is an example of which level of business strategy?

Functional Strategy (correct)

Which of the following traits is not a characteristic of a service?

Functionality

Sales promotions usually should not be the sole basis for a promotional campaign because:

Gains from sales promotion are often temporary and sales drop off when the deal ends.

Which specific segmentation criteria uses zip codes as a method of creating B2C segments?

Geographic

A surfboard company that markets its boards exclusively inside U.S. coastal towns probably does so based on _______.

Geographic segmentation

Which of the following would most likely embody an important segmentation criteria for an organization that markets winter clothing such as heavy coats?

Geography

The biggest challenge faced by most contemporary advertisers is: Generating revenue. Increasing WOM. Securing profitability. Getting consumers' attention. Understanding consumers and their habits and attitudes.

Getting consumers' attention. (correct)

Marketing strategy entails:

Getting more (value) from a situation than the original balance of power between the assortment of competitors or enemies would have suggested was possible. The art and science of creating and executing power. leading or managing change.

Marketing strategy entails:

What does strategy mean?

Getting more out of a situation than the original balance of power suggests should be possible The art of creating and exercising power Leading or managing change

What does strategy mean?

Getting more out of a situation than the original balance of power suggests should be possible The art of creating and exercising power Leading or managing change All of the above

_______________________ is the best example of a firm (brand) that has successfully executed the market skimming pricing strategy. Walmart Jack-in-the-Box Gillette Dollar General JC Penney

Gillette (correct)

Why is every organization a marketing organization? For example, organizations such as places of worship, schools or military branches? The best answer is because each entity:

Give people options and generally provide value Provides superior products Compete for the attention of people and their resources All of the above (correct)

Which two characteristics make glaciers a useful analogy when describing the effects of marketing practice?

Glaciers and marketing practices each change and are each changed by their surrounding environment.

Which two characteristics make glaciers a useful analogy when describing the effects of marketing practice?

Glaciers and marketing practices each change and are each changed by their surrounding environment. (correct)

The surprisingly important communication human activity known as _________ entails two or more people telling things about a third person or entity like a brand that the third party would prefer not to be known or said.

Gossip

According to Module 9, ____________________ are most likely to create success and wealth.

Great ideas

According to Module 9, ____________________ are most likely to create success and wealth. Hard work Innovative thoughts Great ideas Powerful partnerships None of the above

Great ideas (correct)

What huge environmental threat recently emerged for Planned Parenthood?

Greater availability of early pregnancy stage heartbeat monitoring and/or sonograms. (correct)

Concern about the environment has spurred growth in what is called-------- marketing. Blue Competitive Price -based Green

Green (correct)

---------- arises when marketers promote or infer that their branded products or organizations themselves are green-as in beneficial to the environment-when they are not.

Greenwashing

Which of the following statements best defines market segments?

Groups of customers in a market that share homogeneous characteristics

During which PLC stage are marketing organizations most concerned with gaining and maintaining market share?

Growth stage

The presence of ________________ ensure(s) that new problems - additional conflict - arise more quickly. Resolved conflicts Grudges Judgments of others Awkwardness Acceptance and understanding

Grudges (correct)

According to current current research and what is reported in this module, which is the following is not one of the factors that contributes the most to professional success? Professional's IQ Birth family socioeconomic status Hard work Self-control All of the above are correct.

Hard work (correct)

The statement that "People perform to their metrics" underscores (emphasizes) the degree to which:

Having the right measurements and rewards in place inside firms is key to their planning success

The statement that "People perform to their metrics" underscores (emphasizes) the degree to which:

Having the right measurements and rewards in place inside firms is key to their planning success.

The statement that "People perform to their metrics" underscores (emphasizes) the degree to which:

Having the right measurements and rewards in place inside firms is key to their planning success. (correct)

The describes a situation where people are temporarily satisfied after they have received whatever new thing they wanted and obtained but then quickly find themselves lustfully looking forward toward something else that is new.

Hedonic treadmill

The primary objective of supply chains (the absolute best answer) is to: Help customers obtain the right product or service Help customers obtain the right product or service at the right time Help customers obtain the right product or service at the right time in the right place All of the above None of the above

Help customers obtain the right product or service at the right time in the right place (correct)

What individual coined the phrase "the only constant is change?"

Heraclitus

Markets are _____ in nature

Heterogeneous

Markets are __________ in nature.

Heterogeneous

Markets are relatively more -------------- in nature

Heterogeneous

Markets are __________ in nature.

Heterogeneous (correct)

Markets are relatively more -------------- in nature

Heterogeneous (correct)

A cash cow is a branded product that enjoys a:

High market share of a low growth market

A cash cow is a branded product that enjoys a

High market share of a low growth market.

As compared to marketing penetration prices, marketing skimming prices are:

Higher

As compared to marketing penetration prices, marketing skimming prices are: Lower Higher About the same

Higher (correct)

Marketing organizations' choices to offer ______________________ often attracts competitive entry; whereas a decision to offer ________________ generally discourage market entry by new competitors.

Higher prices; lower prices

In the absence of other information customers perceive ______________ products as ______________ products. Lower-priced; better-value Higher-priced; better-quality Higher-priced; better-value Lower-priced; better-quality Cheaper products; more desirable

Higher-priced; better-quality (correct)

Which of the following characteristics is not generally viewed as strength of advertising:

Highly effective at persuading

Market segments are generally in nature.

Homogeneous

The act of segmentation entails dividing markets into relatively ______________________ groups of customers.

Homogenous

The number of rolls of toilet paper consumed in the Metroplex was discussed in order to illustrate:

How supply chains fulfill consumers' rights.

Strategic level planning primarily involves determining:

How to meet and beat competitive threats, and survive long-term, while growing.

Who refocused original version of the Starbucks brand from coffee, tea and spices to strictly coffee?

Howard Schultz

Needs are states of deprivation that exist inside human minds or bodies. Given this definition, which of the following statements is most true?

Humans always create their own needs without the intervention of marketing strategies

What does the Latin phrase incurvatus in se mean?

Humans are all curved inward - selfishly

The primary reason why most people will act unethically, will cheat, in certain situations is because: Humans are instinctively selfish. Humans are instinctively greedy. What happens in the dark rarely comes to light. The long-term consequences generally weigh out in the cheater's favor. The world is large enough that smart people can get away with almost anything.

Humans are instinctively selfish. (correct)

Which automobile brand was first to position its automotive products based on the promise of a 100,000 mile bumper-to-bumper warranty?

Hyundai

Which car company was first to successfully position its brand to nervous consumers by allowing buyers to return their car and receive full refunds if they lost their job after they purchased the auto?

Hyundai

Which organization said "More than a symbol. It's the way we do business." About their positioning symbol?

Hyundai

The human mind is fundamentally wired to operate at three levels.

I will, I won't, or I want

The human mind is fundamentally wired to operate at three levels.

I will, I won't, or I want (correct)

_____________ is a firm that has successfully used the cost-based pricing tactic. JC Penney IKEA Walmart Amazon Dirt Cheap

IKEA (correct)

The seemingly crazy word _______________ is the actual name for scientists who study the behaviors and habitats and other factors that influence the reproduction and well-being of sea (or water) creatures.

Ichthyologists

Intangible products are also known as:

Ideas People Products Services (correct) Solutions

The most fundamental source from which successful new products can be developed is: Customers and their unmet needs. Customers and their unrecognized needs. Ideas (Internal) new product development teams None of these answers represents the "most fundamental" source

Ideas (correct)

Good mission statements should:

Identify and/or steer the development of core competencies Motivate the organization's key stakeholders Describe where the firm is heading in the future All of the above

The marketing concept prescribes that firms should focus almost all efforts on:

Identifying and satisfying customer needs.

The actual written content of mission statements should focus primarily on:

Identifying how the firm will profitably satisfy customer needs.

The actual written content of mission statements should focus primarily on:

Identifying how the firm will profitably satisfy customer needs. (correct)

The Joe's Crab Shack example illustrated the marketing pricing principle suggesting that: If you want to attract a crowd, charge a ridiculous price. First come, first served worked in the past; it continues to work today. Consumers vote with their feet (by walking away), if the price is NOT right. None of the preceding answers is correct. A, b, and c are all correct.

If you want to attract a crowd, charge a ridiculous price. (correct)

When addressing an organization's weaknesses a good strategic planner should never:

Ignore that weaknesses exist

What positioning strategy is Jeep using when they gave the Jeep a rugged personality

Image-based

For a dimension of differentiation to be determinant, the difference in question must be:

Important to consumers as they make decisions about what to buy

For a dimension of differentiation to be determinant, the difference in question must be

Important to consumers as they make decisions about what to buy.

For a dimension of product differentiation to prove "determinant" in the minds of targeted customers, the difference must be:

Important to consumers as they make decisions about what to buy.

A particular sort of vision defect is likely to arise when supply chain managers are attempting to resolve conflict. That defect - or flaws - derives from (a[n]): Feeling guilty about the conflict Overthinking what could go wrong Misunderstanding the differences of others Inability to see both sides of an issue None of the above is correct.

Inability to see both sides of an issue (correct)

A(n) ______________________________ is a factor or stimuli that motivates people to do something.

Incentive

The term ___________________ could describe anything, factor or stimuli that motivates or encourages people to do something. Choose the best answer, from a strategic and controllable answer.

Incentives

__________ could include anything, factor or stimuli that motivates or encourages people to do something. Agreeing to not charge homeowners who use less than a pre-agreed amount of water during a drought is an __________. To striking degrees, most voluntary human behaviors are driven by __________, as all economists understand.

Incentives

B2B and B2C customers almost always respond to (choose the best answer): Food Money Incentives Initiatives Inspiration

Incentives (correct)

Which of the following is not a response that B2B marketers seek from customers when they (marketers) adjust their prices downward?

Incentivizing customers to perceive and to position the brand as low-cost.

Which of the following is not a response that B2B marketers seek from customers when they (marketers) adjust their prices downward? Incentivizing customers to pay early. Incentivizing customers to buy high volumes. Incentivizing customers to buy out of season. Incentivizing down-stream retailing partners to allocate more desirable shelf space. Incentivizing customers to perceive and to position the brand as low-cost.

Incentivizing customers to perceive and to position the brand as low-cost. (correct)

When the demand for a particular brand is inelastic, the organization that markets it usually should .

Increase prices (but not too much)

The best innovations ________________ efficiency and ____________ demand.

Increase, stimulate

Which of the following is usually not an advertising communication objective?

Increasing consumers' purchase intentions

The infamous swastika sign originated inside which culture?

Indian

The process of market segmentation is one of the most important activities in which B2C marketers engage. Effective segmentation requires the right division-creating inputs. From among the list provided below, which inputs should go into developing market segment?

Individual consumer characteristics

If demand the for branded products hardly changes (either up or down) when the prices of those products has changed, then demand for those products should be described as:

Inelastic

In marketing contexts, ___________ relates to the tendency of customers to decide or buy nothing or to remain locked in on decisions or behaviors they have already made or are living out.

Inertia

Many consumers continually rebuy the same brand but have little or no emotional commitment to the brand. This behavior represents purchasing due to Brand loyalty Inertia Brand preference High involvement None of the above

Inertia

In a marketing context, _______________ entail(s) the tendency of customers to do nothing or remain locked in on decisions or behaviors they have already made or are living out. Incentivizing Inertia Obsolescence Obligations Gravitational pulls

Inertia (correct)

The promotional mix can be used to:

Inform, persuade, or remind customers or prospects.

Marketing research links customers/prospects to markets through ...

Information

Absent efficient ___________ supply chains cannot operate seamlessly.

Information flows

The most important flow that transpires between one partner firm and other partner firms inside supply chains is:

Information flows

The most important supply chain flow is:

Information flows

What is the most important supply chain flow? Without it, supply chains cannot flow seamlessly. Which one is it?

Information flows

The most important supply chain flow is: Physical flows of products, parts, and materials Possession flows Information flows Payment flows No supply chain flow was designated as the most important.

Information flows (correct)

What is the most important supply chain flow? Without it, supply chains cannot flow seamlessly. Which one is it? Physical flows Ownership or possession flows Information flows Promotional or communication flows Payment flows.

Information flows (correct)

Which statement least characterizes what actually happens during the "routine decision-making process" for products and brands?

Information search and brand evaluation are likely to be very extensive

Which statement least effectively characterizes what actually happens during the "routine decision-making process" for products and brands?

Information search and brand evaluation are likely to be very extensive.

Which one of the basic supply chain flows is most important?

Informational

Which one of the basic supply chain flows is most important? Physical Ownership Informational Promotional Payment

Informational (correct)

When promoting through any means, one or more of the following communication outcomes is generally desirable: Informing customers or prospects. Remind customers or prospects. Persuade customers or prospects. Secure attention of customers or prospects. All of the above

Informing customers or prospects. Remind customers or prospects. Persuade customers or prospects. Secure attention of customers or prospects. All of the above. (correct)

Firms should never get so focused on ________________ that they forget the fundamentals such as quality, reliability, and promised and delivered performance.

Innovation

The term __________ refers to an overall process whereby inventions are transformed into commercialized and marketable products that can be sold profitably.

Innovation

The term _______________ describes the overall process whereby inventions are transformed into marketable products?

Innovation

Which word best captures a process or a product that always provides new and useful (i.e., superior) solutions to customer's problems?

Innovation (correct)

The development and introduction of ____________________ to any new market can create temporary monopolies. Incentives Price ceilings Regulations Differentiation Innovations

Innovations (correct)

All of the following marketing practices can harm other companies and reduce competition except:

Innovative product development

All of the following marketing practices can harm other companies and reduce competition except: Acquiring competitors Creating barriers-to-entry Innovative product development Creating extreme marketing power

Innovative product development (correct)

Logistical managerial processes primarily occur _______________ organizations while supply chain managerial processes occur ________________ firms?

Inside; between

What type of marketing refers to exchange encounters that occur between service providers and service customers?

Intangible Differentiated Internal Interactive (correct)

Which statement is least accurate? In contrast to products, services are:

Intangible Produced at the point of consumption Less variable in quality (correct) Easily inventoried Less likely to be produced in the contemporary US economy.

The contemporary word _______________ means in-between and describes the organizations and people who deliver services inside supply chains and operate between original source firms and retailers.

Intermediaries

Supply chain _______________ cannot be eliminated. That's because the solution and value created by each function that supply chain partners perform cannot be eliminated. Managers Intermediaries Negotiators Functions Risks

Intermediaries (correct)

__________________ __________________ refers to marketing efforts targeted toward the marketing organization's own service providers

Internal marketing

What communication medium features an essentially endless number of communication channels through which marketers can present promotional messages?

Internet-based media

A fireman and an ecologist working together to develop ideas about how best to prevent future forest fires inside the state of California illustrates the concept of __________.

Intersectional thinking

The world's largest library that formerly existed inside Alexandria, Egypt is a good example of why _____________ are critical for creative success.

Intersections

The world's largest library that formerly existed inside Alexandria, Egypt is a good example of why _____________ are critical for creative success. Religions Intersections Cultures Technology None of the above

Intersections (correct)

Which of the following is not an NPD stage?

Introduction

Any marketing organization's sunk costs and switching costs will most likely need to be evaluated during which PLC stage?

Introduction Growth Maturity Decline (correct)

The highest level of competition prevail inside markets during the _________ stage of the product life cycle

Introduction Growth Maturity (correct) Decline Competitive

With the advent of electric vehicles, in which stage of their product life cycle are internal combustion (automobile) engines?

Introduction Shake-off Growth Maturity Decline (correct)

During the __________ stage of the product life cycle, a primary goal is to develop awareness among targeted audience that distribution in the market may be limited. Consequently, collaborative and cooperative supply chain relationships also should be developed and refined. Marketers might logically choose to pursue skim-the-cream pricing strategies.

Introduction (correct) Growth Maturity Decline Development

__________ is the term that marketers use when describing the extent to which decision-makers are or are not paying attention; fully-engaged; and "feel" that what is happening and what they are evaluating is important.

Involvement

The daunting prospect of sinking-the-boat:

Involves risks of ruining organizations by making huge strategic bets, and losing.

Society, defined,

Is any known group of people living together in a more or less ordered, or hierarchical fashion. (correct)

What does the phrase concentrated or niche market-targeting mean?

It means a targeting technique in which marketers target large shares of narrowly-defined segments, fine-tuning their marketing mix programs in order to satisfy the special needs and solve unique problems within precisely defined segments.

Emus, kangaroos, and even sharks were used to illustrate how important it is for firms to

Keep moving forward and growing.

Emus, kangaroos, and even sharks were used to illustrate how important it is for firms to:

Keep moving forward and growing. (correct)

Successful marketers must become and remain customer-focused. What is the best outcome that marketers can generate in order to become more customer-focused?

Keeping promises

Some argue that Google's parent company Alphabet recently abandoned their positioning statement - "Do Good Things." This happened because Google:

Knowingly restricted information to Chinese user's in accordance with China's government

If Sun Tzu was a marketer, what type of knowledge would he recommend that strategists gather before they develop their marketing plans?

Knowledge about themselves, their competitors (enemy), and their terrain (marketplace

Marketers should be first to market, entry-wise, in order to have a chance to remain first, in the mind. This principle, or law, is best described as the principle of:

Leadership

Marketers should be first to market, entry-wise, in order to have a chance to remain first, in the mind. This principle, or law, is best described as the principle of:

Leadership (correct)

The story discussing an experiment where a bell was rung, a dog was served food, and (Pavlov's) dogs salivated illustrates:

Learning through classical conditioning.

Who said that Elvis Presley, the singer, was the greatest American sociocultural-consumption force during the twentieth century?

Leonard Bernstein (correct)

When consumers become brand loyal they are: More likely to engage in information search. No longer as likely to experience inertia. Less likely to engage in information search. More likely to search for information that confirms their ex pectatio ns. None of the above.

Less likely to engage in information search.

Which statement is least accurate? In contrast to products, services are:

Less variable in quality

Integrating multiple perspectives, avoiding psychological traps, and committing to learning from and managing failure are three methods that marketing professionals can learn and leverage in order to _______________________.

Lessen or eliminate associative barriers.

Which brand discovered that workplace productivity materially increased when professional workers could dress more casually, and developed a brand that could meet these new needs?

Levi Strauss & Co.

Which brand discovered that workplace productivity materially increased when professional workers could dress more casually, and developed a brand that could meet these new needs?

Levi Strauss & Co. (correct)

Which advertising execution style focuses on selling branded images more than the associated products themselves? Emotionally based Lifestyle-based Demonstration Fantasy

Lifestyle-based (correct)

Consumers usually engage in one of three different types of problem-solving behavior. Those behaviors are ...

Limited, Extensive, Routine ... problem-solving behaviors

What is an essential first step when marketers engage in the service failure recovery process?

Listen

Salutary products deliver:

Little short-term satisfaction but substantial longer-term benefits

Which of the following is not a strategy to create lasting core competencies through which brands can be differentiated and positioned?

Location leadership

The execution of _____________ processes are driven by the presence and reciprocal (back and forth) flows of information inside individual firms that are operating inside chains.

Logistical

Storage, order processing, and shipping are the primary ______________ functions. Supply chain Marketing Firm Logistical Marketing channel

Logistical (correct)

The execution of _____________ processes are driven by the presence and reciprocal (back and forth) flows of information inside individual firms that are operating inside chains. Supply chain Marketing Logistical Efficient Economy of scale

Logistical (correct)

The most persuasive marketing stories usually involve narratives that "frame" customer or prospect choices as decisions that feature potential rather than potential if decision-makers fail to make the "right" choice.

Losses/gains

Negative framing processes entail presenting choices as situations in which something will be __________ by customers if they fail to make the "right choice" - with the "right choice" being positioned as what the marketer suggests customers should do.

Lost

Lost (correct)

The relative success of Apple and Samsung in the smartphone market shows that higher market share is often associated with:

Lower profits

_______ is what happens when proper preparation and the right opportunities intersect?

Luck

Which firm is the largest maker of eyeglasses frames in the world and is close to achieving complete vertical integration? Oakley Luxottica Persol Ray-Ban Walmart

Luxottica (correct)

Great brands usually tell great stories, or narratives. The first rule of successful storytelling is: Care enough to pay attention to "listeners," "readers," or "viewers" to hear them. Leave out the parts no one wants to read, see, or hear. Make hearers, readers, or viewers care. Get to the point and stay-on-point.

Make hearers, readers, or viewers care.

The first rule of successful storytelling is:

Make me care.

Which of the following is not one of the keys to marketing success?

Making fun and entertaining advertising

The management of what key factors is necessary in order to execute NPD successfully?

Managerial execution, strategic planning, and creativity

Which of the following traits or descriptions do professional managers generally seek from their new hires? Creativity Critical thinking skills Cognitive flexibility Emotional Intelligence Managers generally seek each trait

Managers generally seek each trait (correct)

Which answer best describes marketing practice?

Managing processes, people, exchanges, and values (correct)

A polymath is a person who is good at: What else, mathematics; many different types Managing or developing many different scientific or technical ideas, at essentially the same time Many things Taking risks, and "hanging in there" even when they fail.

Many things (correct)

The entire set of actual or potential customers for any particular product is known as the:

Market

The word _____________________ is defined as the entire set of potential or actual users of products, who can actually also afford those products.

Market

When a company pursues new target segments by using existing products and the same marketing mix, they are adhering to the ________ growth strategy.

Market Development

At times, marketers identify new market segments to pursue and do so by using existing products and the same marketing mix. The sales of Estee Lauder's premium priced cosmetics took off after the cosmetics marketer began selling them extensively throughout airports. This example illustrates a:

Market Development Growth Strategy

At times, marketers change one or more elements (typically, changing the promotion or price) in their marketing mix, while keeping the product inside the marketing mix the same in order to sell more of an existing product to the same target market. Arm & Hammer Baking Soda, for example, used promotional messaging both to explain and demonstrate how the same-ole-same-ole baking soda could be used to solve numerous other household problems having nothing to do with baking. This example illustrates a:

Market Penetration Growth Strategy

__________ is the ratio between an individual marketing organization's firm's sales volume and the overall industry sales volume (i.e., my organization's share of products sold throughout the market in which my firm competes).

Market Share

An image and set of benefits or problem-solving values, that presumably is associated with branded products refers to ___________

Market positioning

An image and set of benefits or problem-solving values, that presumably is associated with branded products refers to ___________

Market positioning (correct)

Which tool and analytical practice should marketers routinely use to identify threats and opportunities in the environment quicker than their competition?

Market research

____________________ exist when there not enough products are available to satisfy demand.

Market scarcity

__________ are relatively homogeneous, smaller submarkets (groups) existing inside much larger and more heterogeneous markets.

Market segments

Which is not a condition for effective segments?

Market segments should have a high income

_______ is the ratio between an individual marketing organization's firm's sales volume and the overall industry sales volume (i.e., my organization's share of products sold throughout the market in which my firm competes).

Market share

Market share (correct)

The process of evaluating a series of market segments to determine which segment or segments the firm should pursue is called:

Market targeting

Which of the following is not an environmental trend dimension?

Market trends. (correct)

How is the BCG matrix formed? This four cell matrix is formed by creating an intersection between the

Market's growth rate and the firm's brand's market share

What factor has functioned as the most dominant force that has contributed to a deluge of unhappiness (or dissatisfaction) among women about their weight?

Marketers (correct)

Which statement is true?

Marketers can create wants but not needs

Which statement is true?

Marketers can create wants but not needs.

Which of the following descriptions do not apply to perceptions?

Marketers find it difficult to change customer perceptions

Which of the following descriptions do not apply to perceptions?

Marketers find it difficult to change customer perceptions.

What do marketers and consumers owe to each other?

Marketers owe value to consumers and consumers owe nothing to marketers

What do marketers and consumers owe to each other?

Marketers owe value to consumers and consumers owe nothing to marketers.

What do marketers and consumers owe to each other?

Marketers owe value to consumers and consumers owe nothing to marketers. (correct)

__________________ can operate as laser-like, targeted megaphones voicing friendly reminders; delighted-to-see-you introductions; kind and gentle, or in-your-face, cajoling; "comeback-to-see-us-again-soon" missives; absolutely pertinent information, or scare-you-to-death or piss-you-off messaging.

Marketing Communications

The process of collecting and analyzing information to a specific marketing problem or opportunity facing a firm is known as:

Marketing Research

The strategic marketing activity known as is conducted in order to generate fact-based insights about the probability that certain managed or unmanaged events will happen.

Marketing Research

What is the origin (source) for most useful marketing insights about environmental trends?

Marketing Research

What is the best description of how marketing effects the world?

Marketing affects everything, everywhere

The contemporary concept known as the supply chain emerged directly from an older idea known as:

Marketing channels

...... .. consist of a group (set) of independent (but often interdependent) organizations involved in the process of making products or services available for use by consumers or business organizations. This type of system also begins with producers or manufacturers. Supply chains Logistical processes Marketing channels Distribution systems None of the above

Marketing channels (correct)

The best definition of _______________________ is that they are organized collections of independent organizations that inter-dependently partner in order to execute the process needed to make a product available for consumption. Intermediaries Supply chains Marketing channels Middlemen Wholesalers and/or agents

Marketing channels (correct)

Although the terms marketing channels and supply chains are synonymous in many ways, one key difference remains. The primary difference is that:

Marketing channels fail to capture the roles played by source firms

Although the terms marketing channels and supply chains are synonymous in many ways, one key difference remains. The primary difference is that: Marketing channels do not value the importance of intermediaries Marketing channels do not value the importance of cooperation among the partners Marketing channels fail to capture the roles played by source firms All of the above None of the above

Marketing channels fail to capture the roles played by source firms (correct)

A well-designed _______________________________ helps deliver the exact information actually needed to develop and execute a tactical marketing plan.

Marketing information system

The best description of what marketing involves is:

Marketing involves processes, people, exchanges, and values

The best description of what marketing involves is:

Marketing involves processes, people, exchanges, and values.

Product, Price, Promotion and Place are all part of the _______________

Marketing mix

The first issue that should be considered as organizations develop their strategic pricing plans is what the organization intends to do or is currently doing with the rest of their _______________.

Marketing mix

What is the one and only complete tool that marketers can use to initiate marketing growth?

Marketing mix

What is the primary tool that organizations use to create value?

Marketing mix

Which key marketing tool do marketers use to create and distribute value to targeted segments?

Marketing mix

Which tool do marketers use to create and distribute value to targeted segments?

Marketing mix

_____________ is a tool that firms manage with the intent of creating hopefully-differentiating value for the branded products they make and market

Marketing mix (correct)

The phrase ________________ entails thoughtfully mixing and matching the four or seven Ps in order to create new and more appealing values.

Marketing mix management

If marketing strategists know the life cycle stage that their brand current occupies, they will also better understand how to manage the brand's:

Marketing mixes.

What does the existence of unsatisfied customers create for marketers?

Marketing opportunities

Which of the following is not true about marketing mixes, targeting, and positioning?

Marketing organizations should only target one market segment using multiple, well structured, marketing mixes

Marketing practices are complicated and sometimes contradictory. Why?

Marketing practices can both be good or bad depending on whether they provide great solutions to problems or create problems for those involved. (correct)

A primary difference between marketing researchers and novelists is; the one emphasized in the book, is ....

Marketing researchers must base their stories on data-based facts whereas novelists can invent those stories.

The word _______ describes sets of potential/actual purchasers and/or users of products who also can actually afford a product.

Markets

Markets are heterogeneous in nature. The preceding statement primarily means that:

Markets consist of diverse consumers or organizations

A _________________ is the price added to a product to cover to cover the costs of overhead and secure profit. Promotion Markup Margin Cost Value-add

Markup (correct)

The primary marketing consequence that has arose dud to the environmental trend that American men are graduating from college at materially lower rates than American women is that:

Marriage is experiencing an open retreat.

The primary marketing consequence that has arose dud to the environmental trend that American men are graduating from college at materially lower rates than American women is that:

Marriage is experiencing an open retreat. (correct)

Price competition between firms is most likely the result when which of the following target marketing strategies is used?

Mass-marketing

What statistical value captures the average response among the entire data set?

Mean

Marketers should evaluate several criteria in order to determine the attractiveness of market segments they have created. These criteria are:

Measurable, accessible, substantial, differentiable-able, actionable

Valid information is secured from questions that:

Measure exactly what they purport to measure

The word metrics is a modern strategic planning term that is primarily used to indicate or establish:

Measurements Benchmarks

The book rightfully and logically compares the marketing mix to a __________.

Meatloaf

Powerful brand names should be ---------------------.

Memorable

Deciding to not tell the truth requires that one have an incredible amount of ___________________.

Memory

Deciding to not tell the truth requires that one have an incredible amount of ___________________. Creativity Morality Ethicality Memory Strength, so as to bear up under the troubles that usually follow.

Memory (correct)

The Welsh phrase "better a fair face than a fair dowry" best-explains why:

Men will marry down, socially- or economically-speaking, based on the attractiveness of their prospective partners. (correct)

Lockheed-Martin only targets government military agencies with interests in aerospace. This extremely narrow strategy is known as _________ targeting

Micro

Lockheed-Martin only targets government military agencies with interests in aerospace. This extremely narrow strategy is known as _________ targeting.

Micro

Which type of environment is the most manageable for marketers as they strategically plan, establish and manage key relationships?

Micro-environment (correct)

Which statement is true about macro-environments and micro-environments?

Micro-environmental factors are easier than macro-environments to manage.

Which type of market targeting approach treats each of a small number of customers (perhaps only one customer) as unique and then creates a highly focused marketing mix aimed at satisfying those unique needs.

Micro-targeting

Strategy originates as an ancient Greek word that means:

Military commander

The English word "strategy" is rooted in ancient Greek word that signified":

Military commander

The English word "strategy" is rooted in ancient Greek word that signified:

Military commander

Strategy originates as an ancient Greek word that means:

Military commander (correct)

Aldi's reliance on the merchandising of private-label brands is winning over the patronage of which segment of consumers?

Millennials

American author Mark Twain said the two most important days in people's lives are when they are born and when they figure out the reason why. What is the concept that best relates to Twain's statement?

Mission Statement

An organization's _______________ equals that organization's current __________________ that equals that organizations future _______________________.

Mission, vision, direction

Which of the following is not a critical component of most successful NPD efforts? Preparation Hard Work Failure Capacity to remain creative Money

Money (correct)

From a marketing perspective, price is---------- exchanged for the ownership or use of a good or service. Money or other considerations (including goods but not intangibles and services). Money or other considerations (including other goods and services). Money exclusively earmarked for the transaction. What is recognized as barter within a particular culture. Anything of value to the buyer but not necessarily of value to the seller.

Money or other considerations (including other goods and services). (correct)

How should marketers view themselves?

Moneymakers Problem solvers Need satisfiers A and C A and B (correct)

, by definition, are the only or the overwhelmingly-dominant competitor marketing inside monopoly market. ---------- enjoy extreme pricing power and can generally maintain this power so long as they do not price at exploitative levels. Price exploitatively, and government regulators step in and either impose price ceilings or break out the monopoly.

Monopolies (Monopolists)

by definition, are the only or the overwhelmingly-dominant competitor marketing inside monopoly market. ---------- enjoy extreme pricing power and can generally maintain this power so long as they do not price at exploitative levels. Price exploitatively, and government regulators step in and either impose price ceilings or break out the monopoly. Monopolies (Monopolists) Pure Competition Oligopolists (Oligopolists) None of the prior answers are correct.

Monopolies (Monopolists) (correct)

When---------- conditions prevail, many sellers and buyers are present in the market. Said sellers, or marketers, price at higher, lower, and in-between levels. The ability of any single organization to raise prices usually depends on how much actual or perceived differentiation that specific marketer's brand has achieved. Monopolistic competition Monopoly (Monopolistic) Pure Competition Oligopoly (Oligopolistic)

Monopolistic competition (correct)

In which type of market do marketing organizations enjoy the highest pricing power?

Monopoly

In which type of market do marketing organizations enjoy the highest pricing power? Pure Monopolistic Oligopoly Monopoly Communistic

Monopoly (correct)

Ethical guidelines and philosophies exist to help people to make informed decisions about which choices are _________ in certain situations.

Moral or Immoral

Most Americans constantly pursue happiness. Many marketers can leverage this fact to their advantage because of the common misconception, one that is shared among many people, that happiness results from having:

More luxury items in one life (correct)

The word obese is generally used to describe people who are dangerously (for their own health) overweight. Growing amounts of obesity is definitely an American environmental trend. According to the book, ___ of Americans are obese.

More than 1/3

More than 1/3 (correct)

The concept known as opinion leadership derive much of its power from the fact that: Most consumers are actually followers, "watching" to see/hear what someone else does, recommends, or says. Consumers rarely think for themselves Consumers disavow the knowledge that opinion leaders possess Known brands are more trusted than opinion leaders themselves True viral marketing is more a pipedream than a reality

Most consumers are actually followers, "watching" to see/hear what someone else does, recommends, or says. (correct)

Which statement(s) best describes the nature of environmental change?

Most people fear change.

Once a need has been sufficiently aroused to direct the consumer to satisfy that need it is referred to as ______________.

Motive

Learning arises from a four-way interaction between (1) consumers'__________; (2) __________ (might include marketing cues) to which they are exposed and attend; (3) consumers' responses to the stimuli; and (4) the rewards or punishments (positive or negative reinforcements) resulting from their behavioral responses.

Motives and stimuli

Why did movie theaters hit a twenty-five-year low in 2017?

Movie ticket prices went through the roof

Why did movie theaters hit a twenty-five-year low in 2017?

Movie ticket prices went through the roof (correct) Stagnated incomes in young adults Movie theaters entered a mature stage in the Product Life Cycle Movie theaters entered a declining stage in the Product Life Cycle Movie theaters actually hit a twenty-five-year high in 2017

Opportunities are environmental trends that are

Moving in favor of the best interests of the firm.

Opportunities are environmental trends that are:

Moving in favor of the best interests of the firm. (correct)

The "differentiated" target marketing approach is the one where the firm targets:

Multiple segments with multiple marketing mixes, one marketing mix for each segment targeted

The "differentiated" target marketing approach is the one where the firm targets

Multiple segments with multiple marketing mixes, one marketing mix for each segment targeted.

What product category changed everything, culturally-speaking, during the 1950's and 1960's?

Music

What product category changed everything, culturally-speaking, during the 1950's and 1960's?

Music (correct)

Questions about what features and attributes, and thus which benefits of the firm's existing products should be changed, added, deleted, and in what ways, are:

NPD and positioning questions

Questions about what features and attributes, and thus which benefits of the firm's existing products should be changed, added, deleted, and in what ways, are: Customer relationship management and NPD research questions. Brand management and positioning questions. Supply chain and positioning questions. NPD and positioning questions None of the above is correct.

NPD and positioning questions. (correct)

Poor management of the marketing mix contributes materially to _______________________.

NPD failure

Poor management of the marketing mix contributes materially to _______________________. Research problems NPD failure Creative destruction Value propositions All of the above

NPD failure (correct)

Their ability to effectively execute _____________ and _____________ initiatives successfully allows marketers to raise and maintain higher prices.

NPD; branding

The campfire metaphor was used to explain and justify the: Need for fire - as in a burning desire to succeed - inside marketers' souls. Importance of consumers, organizations and the economy for the development of marketing. Need to partner and work cooperatively/collaboratively with each other. Importance of warm places as a means to enhance creativity. None of the above.

Need to partner and work cooperatively/collaboratively with each other. (correct)

Motives or drives exist as __________ that are sufficiently pressing to direct individual consumers to seek satisfaction and solutions to whatever problems are triggering their motives (drives). (Readers must provide the absolute best answer)

Needs

Many marketers routinely convey negative information when they messaging. Marketers generally follow this tactic because:

Negative messages are usually more contagious than positive messages

Is planned obsolescence illegal and/or unethical?

Neither illegal nor unethical

The ability of marketers and managers to exercise self-control delivers the sort of value that __________________________. People cannot see Never expires Is not financial Everyone desires

Never expires (correct)

Innovations are best defined as something or anything that is:

New and useful

Innovations are best described as something that is:

New and useful

Innovations are best defined as something or anything that is:

New and useful (correct)

Which of the following marketing brands should do everything possible to make prices matter less to its customers?

Nike

Which of the following marketing brands should do everything possible to make prices matter less to its customers? Walmart Southwest Airlines Nike Aldi (the German supermarket) All of the above

Nike (correct)

Based on presumed characteristics that should be associated with a good brand name, is "Duncan Hines" a good name for cake mixes? (Assume that you have never heard of the "Duncan Hines" brand before.) Yes, because it is not regional sounding. Yes, because the name directly suggests the benefits to be derived from the product. No, because the name suggests nothing about the product. No, because it cannot be protected under the Lanham Act. Yes, because the name just speaks "cake mix."

No, because the name suggests nothing about the product.

Inside marketing practice, technology has pretty much changed everything, including how customers connect with each other; how marketers connect with customers; how customers connect with marketers; how firms collect information from customers; and how organizations deliver products and services to customers. But are any of the phrases untrue?

No, each "how" statement is accurate.

No, each "how" statement is accurate. (correct)

Should contemporary marketers always tell the truth and nothing but the full and complete truth to customers, according to Hamilton and Strutton's theory? No, marketers should disclose information (tell the full truth) up to the point where not telling the truth will hurt consumers No, marketers should tell the truth (fully disclose information) up to the point where full truth-telling begins to hurt profit and damage brand reputations Yes, most of the time No, because inside current markets customers always have access to all the information they need; it's up to them to find the information.

No, marketers should disclose information (tell the full truth) up to the point where not telling the truth will hurt consumers (correct)

__________ entails physical/psychological barriers, distractions, or sources of interference that degrade recipients' willingness or ability to decode messages successfully. On average, __________ levels are louder today than at any point in history.

Noise

Noise (correct)

Which is the fastest growing religious affiliation in the United States of America?

Nones

_____________________ often drives parents and grandparents to buy and give certain types of toys.

Nostalgia

Which advertising budgeting approach is developed based on established goals and analytic outcomes to determine the right amount to spend on advertising?

Objective and task method

Which advertising budgeting approach is developed based on established goals and analytic outcomes to determine the right amount to spend on advertising? Affordable method Competitive parity method Percentage of sales method Objective and task method

Objective and task method (correct)

__________ suggest(s) the best solution to pressing problems (planning always entails solving pressing problems), when planners are analyzing and drawing inferences from data, is the simplest explanation that accounts for all the data.

Occam's Razor

Occam's Razor (correct)

Consumers often purchase one brand of wine to drink with their spouse or partner at home but an altogether different brand of wine to give as a gift to a friend. What approach to segmentation does the preceding (accurate) statement illustrate?

Occasion-based

High-end wine companies that market their brands for special events (e.g., parties, weddings, etc.) have engaged in _________

Occasion-based segmentation

High-end wine companies that market their brands for special events (e.g., parties, weddings, etc.) have engaged in _________.

Occasion-based segmentation

Occasion-based segmentation Benefit based segmentation Usage rate-based segmentation A+B All of the above

Occasion-based segmentation Benefit based segmentation Usage rate-based segmentation A+B All of the above (correct)

Accurate answers to "Why" questions inside the consumer behavior field are often difficult to find. The "why" question is often so difficult to answer because:

Often no one best answer exists to "why" questions Consumers often lie to marketing researchers Consumers often tell marketing researchers what they believe the marketing researchers want to hear. Answers to "why" questions reside inside consumers' black boxes All the responses accurately describe a source of the difficulty

______________ feature only a few large and usually dominant competitors. Meanwhile, the customers who purchase goods or service inside this type of market are often quite price-sensitive. Oligopolistic markets Monopolistic competition markets Pure competition markets Monopoly markets Socialist (or communist) markets

Oligopolistic markets (correct)

Which market type features only a few dominant, large competitors?

Oligopolistically competitive

---------- markets feature only a few large competitors. Meanwhile, customers purchasing goods or services inside oligopolistic markets are often highly price-sensitive. When these two conditions are combined, situations where marketing organizations competing inside oligopolies bunch up at approximately the same pricing levels often result. Monopolistic competition Monopoly (Monopolistic) Pure Competition Oligopoly (Oligopolistic)

Oligopoly (Oligopolistic) (correct)

Applebee's pursues customers who want healthy foods, those who want fun and tasty foods, and those who are seeking a reasonably priced meal. How many marketing mixes does Applebee's need to prepare to satisfy the needs of these target segments?

One marketing mix per target segment (3 in total)

The word operant means that something, say, an asset:

Operates in ways that produce useful results

The term ___________________ is used to describe individuals who are generally well-known to other consumers that they influence and who are viewed as experts about one or so product categories by those consumers that they influence.

Opinion leaders

What type of planning continuously seeks to identify opportunities quickly after they arise while also being willing and able to create deliver value or solutions that exploit the opportunity before anyone else?

Opportunistic planners

According to the book, when and where do the best marketing opportunities exist?

Opportunities exist whenever people's problems (needs and wants) remain unsolved or unsatisfied

Which statement is not true about marketing opportunities?

Opportunities exist wherever unsatisfied or less-than-fully-satisfied customers or prospects exist. Opportunities exist wherever customers' or prospective customers' problems (needs) have not been resolved. Opportunities exist wherever external environmental trends are moving against marketing firm's best strategic interests. Opportunities exist wherever firms are creative enough to develop solutions to problems that prospective customers did not yet realize they had. Three of preceding answers is correct.

Recent conflicts in the Middle East have caused gas prices in the US to rise. For the electric car division at General Motors, this represents a:

Opportunity

Intersections and intersectional thinking imply that new product developers interacts with others who have ______________ ideas, which allows them to broaden the new product developers' thoughts and insights. Similar Divergent Opposing Analogous

Opposing (correct)

Which answer best explains why marketing organizations continue to advertise even when those marketers know that most consumers that are targeted are no longer paying attention to advertising?

Organizations are attempting to remain in consumers' evoked sets

The __________ of marketers derives from the fact that everything marketers say is directly or indirectly said for the money. And from the fact that B2C or B2B customers widely recognize this condition, at least implicitly.

Original sin

Which playwright and poet wrote: "A cynic is someone who knows the price of everything and the value of nothing"?

Oscar Wilde

The best long-term hope for domestic professionals seeking to compete successfully with their foreign competitors entails:

Out-creating them.

The best long-term hope for domestic professionals seeking to compete successfully with their foreign competitors entails: Out-creating them. Out-competing them. Out-working them. Out-cheaping them. Out-smarting them.

Out-creating them. (correct)

Consumers tend to ________________ their own possessions, and ______________ what they might lose. Resent; focus on Overvalue; fear Respect; fear Devalue; fear Venerate; denigrate

Overvalue; fear (correct)

A current US environmental trend that provides an opportunity for marketers that are promoting exercise and fitness solutions is the increasing percentage of American adults that are _________________ or ______________.

Overweight or obese

Overweight or obese (correct)

"Most, indeed nearly all, Americans have less than they want. Yet nearly all have more than they need." According to your text, these two sentences exemplify (or illustrate):

Paradox

The concept that two opposing arguments, or ideas, sometimes can hold equal claim on the truth (which is the truth) is best described as a:

Paradox

The concept that two opposing arguments, or ideas, sometimes can hold equal claim on the truth (which is the truth) is best described as a:

Paradox (correct)

The ________ principle suggests that 20% of customers generally make up 80% of a firm's sales.

Pareto

The 80-20 principle suggests that 20% of the consumers buy 80% of the products sold by most marketing companies. This principle has another name. What is it? The:

Pareto Principle

When applied in marketing settings, the 80-20 Rule usually accurately suggests [approximately] 80% of profits emanate from (about) 20% of customers; 80% of product sales from 20% of products present in a product line (marketing organizations generally sell multiple products); 80% of sales are generated by 20% of advertising, and so forth. The 80-20 Rule is also known as the:

Pareto Principle

Planning processes should include carefully examining the:

Past, present, and future

Planning processes should include carefully examining the:

Past, present, and future (correct)

What brand and firm pursued a virtue-signaling strategic by announcing to the world that they would only sell their custom-made products to "mission-driven companies"? Patagonia Apple Gucci Callaway 7 for All Mankind

Patagonia (correct)

Marketing success is based on standing out rather than fitting-in (1); making new things known or old things appear new (2); developing and delivering new stuff (3); and creating solutions to problems that targeted customers did not even realize they had yet (4). Each statement is true. But which path will likely lead to mega-marketing success?

Path 4

Path 4 (correct)

Since the 1960s the National Football League has staked a large portion of its brand personality and brand position on:

Patriotism

Which sales promotion tool is most likely to motivate (or inspire) customer loyalty? Coupons Rebate Patronage awards Special price deals

Patronage awards (correct)

Which customer response to downward price adjustments helps marketing organizations address their own cash flow problems? Buying in high volume Buying out of season Allocating more shelf space Paying early Fear-based purchases; shortages are coming (think toilet paper)

Paying early (correct)

A(n) _________________________pricing strategy is best understood as what happens when firms drastically lower their prices for the purpose of grabbing and/or sustaining high market shares

Penetration

Which of the following tools are tactics is not included in the Promotional mix?

Penetration Pricing

Which of the following elements is not an ingredient for the classic product-related marketing mix?

People

What three additional P's are added to the marketing mix when services are being marketed?

People, processes, physical evidence (correct)

Which of the following entities is not a product:

People. Places. Ideas or causes. All of the above are products. (correct)

What step in consumers' decision-making processes is the most important?

Perceiving a situation accurately

Considering the law or principal of Perception—Marketing competitions (Coke vs. Pepsi; McDonald's vs. Burger King; Apple vs. Samsung) are often waged and won or lost based on customer perceptions about which brands provide the most value. This principle, or law, is best described as the principle of:

Perceptions

Considering the law or principle of Perception - Marketing competitions (Coke vs. Pepsi; Mcdonald's vs. Burger King; Apple vs. Samsung) are often waged and won or lost based on customer perceptions about which brands provide the most values. This principle, or law, is best described as the principle of:

Perceptions

The process by which consumers select, organize and interpret information is known as

Perceptions

The process by which consumers select, organize and interpret information is known as:

Perceptions

Perceptions (correct)

Which promotional mix element is not just good but great at informing, reminding and persuading prospects and customers? Advertising Personal Selling Public Relations Sales Promotions None of the above.

Personal Selling (correct)

Maslow's hierarchy of needs features five stages. Which item among the following answers does not belong to those five stages?

Personal needs

In terms of market segmentation, which of the following is not considered a demographic

Personality Traits

In terms of market segmentation, which of the following is not considered a demographic?

Personality Traits

The main goal of promotion is to:

Persuade customers and prospects. Remind customers and prospects. Inform customers and prospects. Create or strengthen relationships with prospects and customers. Each preceding answer captures a main goal.

What famous dead European/American male wrote (and is famous for having said) "the only constant is change."

Philosopher Heraclitus (no, not Hercules) (correct)

Ethical guidelines are often grounded in ________________ and/or __________________bases.

Philosophical; religious

Which of the nine conflict management and resolution rules should remind managers to not fight about everything that bothers them when to manage supply chain conflict? Don't feel guilty Pick battles carefully Don't overthink Improve you vision Accept cultural differences

Pick battles carefully (correct)

_______________arises when brands brag about their support of worthy causes but the percentage of proceeds actually donated to support the cause is shamefully small. Greenwashing Pinkwashing Dumping Discrimination

Pinkwashing (correct)

Supply chain and supply chain management commonly associated with which of the 4 P's?

Place

When ____ are spanned, the right products become available to customers in the right place. Time gaps Place gaps Possession gaps Price gaps None of the above.

Place gaps (correct)

What are the 4ps of marketing?

Place, Product, Promotion and Product

What are the 4ps of marketing?

Place, Product, Promotion, and Price (correct)

The ________________ suggests that in the absence of other information or knowledge, medical patients will usually believe (or assume) that higher-priced medicine is more effective than lower-priced medicine. Irrational-pricing-effect Emotional-pricing-principle Biased-pricing-effect Placebo-pricing-effect Strategic-pricing-principle.

Placebo-pricing-effect (correct)

The _____________________ suggests that in the absence of other information people usually believe that higher-priced medicine will work better than lower-priced medicine. Availability bias effect Placebo-pricing-effect Gambler's fallacy effect Optimism bias effect Confirmatory bias effect

Placebo-pricing-effect (correct)

Which approach (tactic) should marketers follow when attempting to manage change?

Plan for change and attempt to lead it in a productive direction

Apple's decided to remove the headphone jack from their latest iPhone's. This decision illustrates the use of a ________ strategy.

Planned obsolescence

_________ is a strategic marketing practice wherein marketers design or market products with artificially limited useful lives so they become prematurely outdated in terms of function or fashion.

Planned obsolescence

Which of the following is not true about strategic planning?

Planners should understand that complicated explanations processes or solutions are ceteris paribus always the best

What three manageable factors must be developed and executed successfully in order to do NPD successfully

Planning, execution, and creativity

What three manageable factors must be developed and executed successfully in order to do NPD successfully Idea generation, idea implementation, and idea commercialization Idea sources, lists of ideas, and creative ideas Planning, execution, and creativity All of the above None of the above

Planning, execution, and creativity (correct)

---------- products deliver immediate satisfaction and consequently are easier to market. Yet---------- products may actually injure people who consume them because they often generate radically non-beneficial longer-run consequences. Deficit Desirable Pleasing Salutatory

Pleasing (correct)

___________ deliver immediate satisfaction and consequently are easier to market than __________

Pleasing products; deficit products

With most products, higher prices reduce demand. However, __________ products, services or experiences invert this economic law

Positional

Successful positions are usually grounded in differences that customers perceive as determinant. What does determinant mean?

Positions that are based on actual/genuine differences Differences that themselves are important to customers as they choose which brand to select Both A and B are correct (correct)

During what stage of the consumer decision making process are consumers most likely to engage in WOM?

Post-purchase processes

----------, also known as undercutting or dumping, entails pricing products or services at extremely low prices in order to drive weaker competitors out of the market or create cost-based barriers to entry that block new competitive entry. Penetration pricing Price posting Predatory pricing Premium pricing None of the above

Predatory pricing (correct)

Social class membership heavily influences consumers' product __________________.

Preferences

Successful planning creates ______ which is required for effective _____

Preparation; Marketing

Successful planning creates ________ which is required for effective ________

Preparation; Marketing

Successful planning creates ________ which is required for effective ________

Preparation; Marketing (correct)

Actionable insights about which strategic actions marketers should pursue to solve customer problems, secure gains from environmental opportunities, or avoid disastrous losses from environmental threats are best described as ____________?

Prescriptive knowledge

Strategic inferences are based on:

Prescriptive knowledge

What type of knowledge is developed through marketing research inferences about how marketing organizations should strategically address problems or opportunities?

Prescriptive knowledge

If marketing managers create sufficient perceived and actual value for their brands by effectively managing their marketing mix, they should never need to __________________ consumers. (Choose the best answer as described in the Module.)

Pressure

Pressure (correct)

In marketing, there are five primary types of utility. Which of the following words is not one of these five types of utility:

Prestige

---------- entails marketers setting higher prices based on the premise that quality-, social status-, or positional-conscious buyers will be attracted to the product, due to its price and the potential buyers' ability to afford it, and thus become more likely to purchase the product.

Prestige pricing

Prestige pricing (correct)

---------- is the amount of value that any customer must give up to get (obtain) a product

Price

Consumers should be aware that ____________ is only one of several product attributes that should be considered when determining the value of something.

Price

_________ represent(s) the sum of ALL values customers must give up in order to get the benefits and values that result when customers own and/or use/consume products or services.

Price

Consumers should be aware that ____________ is only one of several product attributes that should be considered when determining the value of something. Price Quality Customer experience(s) Product packaging The brand

Price (correct)

Which marketing mix element does not represent a cost to marketers? Product Price Place Promotion All of the above are cost expenditures.

Price (correct)

When building profitable services, marketers should usually avoid:

Price competition

---------- arises when marketers sell the same product in the same quantities at different prices to different customers or groups of customers. Penetration pricing Price discrimination Predatory pricing Price posting None of the above

Price discrimination (correct)

Company X offers the same breakfast cereal product to different segments while charging different prices to different segments. However, it costs the same to sell to each segment. This marketing practice is best understood as: Price fixing Price discrimination Price differentiation Price leveraging Premium pricing

Price discrimination (correct)

---------- measures how changes in price elicit changes in demand for the brand or product being priced.

Price elasticity

What type of competition should marketers usually avoid - because use of the strategy typically leads to negative outcomes for all marketing organizations competing inside a particular market?

Price-based competition

What type of competition should marketers usually avoid - because use of the strategy typically leads to negative outcomes for all marketing organizations competing inside a particular market?

Price-based competition (correct) Quality-based competition Design-based competition Reliability-based competition Innovation-based competition

Which ethical pricing strategy is used when marketers establish relatively higher prices for a new or existing product and then gradually lower prices, in a planned fashion, creating perceptions that the brand has a higher value in customers' minds?

Price-skimming

__________ is/are the product attribute that most consumers can most easily understand.

Prices

_________ is/are the product attribute that most consumers can most easily understand. Quality Design Prices Benefits Style

Prices (correct)

________________ themselves represent an implicit negotiated buyer-seller agreement on the mutual value of two objects about to be exchanged. Allowances Benefits Prices Market shares Predesignated values

Prices (correct)

Brand equity can also accurately be described as:

Pricing power

Brand equity can also accurately be described as: Brand pricing Pricing power Brand insight Each proceeding answer is correct.

Pricing power

The term known as ____________________ exists when firms can raise product prices or sustain already high product prices without losing substantial market share.

Pricing power

_______ is developed, collected, refined and analyzed by marketing researchers in order to identify trends or to develop insights that can be used to solve particular marketing problems or to exploit specific opportunities.

Primary data

With good cause, detractors suggest that socially networked e-marketers are often responsible for excessive assaults on the ________________ of consumers. . Privacy Pocketbooks Social life Culture Health

Privacy (correct)

The accurate development of _______ allows marketing researchers and strategic planners to quantify, measure, and assess the level of uncertainty—risk—embedded in given strategic marketing decisions.

Probability assessments

What is the first step in the consumer decision making process?

Problem recognition

Anything (or anyone) that can solve customers' problems while generating profits for organizations rightfully can be described as a:

Product

Marketers create and sustain differentiation by managing their marketing mix. Which of the following is included in the marketing mix?

Product Promotion Place All of the above

Marketers create and sustain differentiation by managing their marketing mix. Which of the following is included in the marketing mix?

Product Promotion Place All of the above (correct

Anything (or anyone) that can solve customers' problems while generating profits for organizations rightfully can be described as a:

Product (correct)

Which element (listed below) does not belong to the promotional mix? Advertising Personal selling Product Public relations Sales promotions

Product (correct)

At times, marketers develop entirely new or tweak existing products that are subsequently targeted toward current market segments. Apple essentially has pursued a product development strategy since it first introduced iPhones in 2007. This example illustrates a

Product Development Growth Strategy

What is the name of the factor that best permits marketers to distinguish their products from similar products in the category?

Product attributes

The recent rise in the popularity of alcoholic seltzer water provides an example of a new entering _____ the restaurant and bar marketplace.

Product category

Volvo and Suburu, who market their automobiles as the safest on the road, are basing their positioning strategy on:

Product characteristics / attributes

Volvo and Suburu, who market their automotive brand as being the safest on the road, are basing their positioning strategy on:

Product characteristics / attributes

Marketers use tools other the traditional promotional mix when communicating with consumers. Which of the following answers is not an example of such a tool? Product design Product's price The nature and brand of retail stores Product color All of the above are examples

Product design Product's price The nature and brand of retail stores Product color All of the above are examples (correct)

Which of the following controllable marketing stimuli influences consumer behavior decision making?

Product elements Price elements Place (or supply chain) elements All of the above

B2B goods can be further classified into

Product or support goods

The 4P's of the marketing mix when tangible products are:

Product, price, place, promotion

The development and delivery of---------- involves applying specialized competencies and performing deeds and processes for purposes of benefiting others that also profit the marketer. Benefitting others generally means customers' problems are solved (i.e., their needs are satisfied). There is one absolutely best answer, because the initial statement always defines this specific word.

Products Promotions Services (correct) Ideas and NPD output

The most accurate reason why marketing organizations that want to sustain their revenues should engage in new product development is because:

Products usually pass through a life cycle that culminates in the demise of the product.

Today the US is increasingly recognized as the world's largest producer manufacturer of:

Professional services (correct) Tangible products B2B solutions None of the above

Marketers should view themselves as need-satisfiers, problem-solvers and __________.

Promise-makers, promise-keeper

In which marketing mix element among the 4Ps does the public relations activity fit?

Promotion

________________ can be considered the communication arm of the marketing mix.

Promotion

The _____________________ mix consists primarily of some combination of advertising, personal selling, public relations, sales promotions and direct marketing.

Promotional

________________ without ______________ is/are destined to fail in the long-term.

Promotions; value

Marketers can effectively position their products to target segments by:

Properly managing the marketing mix

Which two types of marketing research knowledge are the most relevant to most marketing organizations?

Propositional and prescriptive knowledge.

The key underlying principle of this theory or philosophy is that most people hate/fear losing more than they love/crave winning. The consequence of this principle is that too many people refuse to even try in risky situations because they fear the painful prospect of failure. These principles and its consequence are taken from ----------· The Marketing Concept The theory of enlightened self-interests Prospect theory The theory of self-preservation Attribution theory Note: Clicking any button other t

Prospect theory (correct)

The underlying premise of __________ is that consumers, and everyone else, usually hate losing more than they love winning. Risk theory Prospect theory Classical conditioning Operant conditioning Negative framing theory.

Prospect theory (correct)

Which type of cost is associated with time-spent, inconveniences-incurred, new learning that may have been necessary, various psychological-challenges that are confronted, as well as monetary costs?

Prospective Switching (correct) Future Sunk

Core competencies:

Provide bases through which sustainable competitive advantages (SCAs) can be achieved. Can arrive from multiple marketing-controlled sources. Can provide solid bases on which to achieve both differentiation and positioning success. A, b, and c are each correct. (correct)

As a psychological measure, __________ is a combination of consumers' preferred AIOs, lifestyle choices, and their dominant personality traits.

Psychographics

Consider the model of consumer behavior. Now think about stimuli such as consumer motives, perception, and learning. These influences are encompassed within the ___________ factor

Psychological

Marketers are using a tactic when they price a product at $9.99 instead of $10.00.

Psychological pricing

In----------• the use of decimals or nines makes the price number seem smaller. The use of this pricing strategy is why about two-thirds of prices still end with a nine. The assumption is that consumers round down nines, making brands appear less Penetration pricing Price skimming (pricing) Psychological pricing Position-based pricing Predatory pricing

Psychological pricing (correct)

The use of is/are especially effective at spreading good news to targeted others.

Public relations

When marketing firms use tools such as special events, lobbying efforts, news releases, or annual reports for communication purposes, they are using:

Public relations

In advertising contexts, --------- entails purposefully exaggerating benefits, attributes, qualities, and so forth associated with branded products, but doing so in ways that consumers realize is exaggerated.

Puffery

Puffery (correct)

The use of promotional strategies generally seek to create greater brand loyalty and build repeat consumption.

Pull

In markets that feature _________________ competition no single firm has the absolute size or power to influence price levels.

Pure

Inside markets characterized by ______________ competition conditions no single firm possesses the absolute size, EOS, or branding power to exercise much effect on pricing.

Pure

In---------- markets no single firm possess the size, scale (EOS), or branding power to exercise much effect on pricing levels. Monopoly Monopolistic oligopoly Oligopolistic Purely competitive

Purely competitive (correct)

Continuously evolving fashion trends and the nearly annual rollout of new iPhones best illustrates which core marketing practice?

Purposefully creating discontent

Continuously evolving fashion trends and the nearly annual rollout of new iPhones best illustrates which core marketing practice?

Purposefully creating discontent (correct)

Firms should pick, choose and then target those segments that those firms are best able to ......

Pursue (reach), serve and satisfy

Under Howard Schultz, Starbucks began expanding to locations near dry cleaners and movie rental stores because customers would need to return to these businesses, giving Starbucks two chances at a transaction. Starbuck's strategy exemplifies which planning law?

Pursue logical solutions

Pursue logical solutions (correct)

What statement best describes the general quality of products made in the US today?

Quality is generally lower for US products now, as compared to products made in the past. Product quality continues to decline as a result of firms moving to lower quality materials in an effort to control costs. Quality is no longer a major tool for positioning and differentiation. The delivery of high quality now is viewed as a necessary condition to effectively compete. (correct) A, b, and c are each true.

Assume a firm is marketing inside in a market that features a high market growth rate. Further assume that the market share of the firm's brand is low. The firm's brand should be treated as a:

Question mark

According to experts, what emotion is shared most frequently inside social media domain?

Rage

Other things being equal (i.e., ceterus paribus), when firms determine through marketing research that the demand for their branded products is inelastic, those marketers can INCREASE total revenues by: Raising their prices. Lowering their prices. Reducing their fixed costs. Reducing their variable costs.

Raising their prices. (correct)

Convenience goods are:

Rarely purchased. Purchased only after great thought and effort (i.e., high involvement; extensive problem-solving). Widely available in the marketplace. Purchased without much consumer effort. C and d are each correct. (correct

Which are the two most important metrics to evaluate advertising effectiveness? Reach and frequency ROI and ROE Recall and recognition Image and knowledge None of the above.

Reach and frequency (correct)

___________________ reference information that passes back and forth, in each direction, between partnering supply chain organizations.

Reciprocal flows

___________________ reference information that passes back and forth, in each direction, between partnering supply chain organizations. Logistical processes Reciprocal flows Supply chain processes Information flows

Reciprocal flows (correct)

The first step in the five-step decision making process involves:

Recognition of a problem

What is the name of the group that consumers consciously look toward in order to secure insights and implicit/explicit recommendations regarding what they should or should not choose to consume?

Reference groups

The statement "something cost less than your daily cup of Starbucks coffee across one year" illustrates which broad pricing strategy? Predatory pricing Reframing prices Virtue-signaling based pricing Psychological pricing Penetration pricing

Reframing prices (correct)

Three basic strategies exist through which firms can earn differentiation and sustainable competitive advantage. Achieving greater customer intimacy is one of these strategies. Customer intimacy will most likely be earned by firms that do a great job of managing

Relationships with customers.

Three basic strategies exist through which firms can earn differentiation and sustainable competitive advantage. One of these is customer intimacy. Customer intimacy is most likely to be used by firms that do a great job of managing:

Relationships with customers.

__________ (marketing research) information is collected from questions (measurements) that are free from systematic or statistical error. An absence of systematic error implies that the respondents (i.e., the sampled people) who answer questions actually understand what the questions were asking.

Reliable

The primary communication outcome that marketing statements such as "Hey! We're still here and here's why we're still the best option" are seeking to achieve is to .

Remind customers

Which communication goal features, at its heart, the core message that "We're still here and here's why we're still good"? Informing Persuading Reminding Effectively managing customer relationships Stimulating viral communication effects

Reminding (correct)

Similar to nuclear weapons, ______ exist(s) and operate(s) as power cards that almost certainly prove more effective when held in your hand rather than played.

Reputations

Similar to nuclear weapons, ______ exist(s) and operate(s) as power cards that almost certainly prove more effective when held in your hand rather than played. Money Reputations Leadership Motivation IQ.

Reputations (correct)

The word _____________, when applied to new ideas, means that the idea would speak directly to someone. Credible Resonate Empathic Complexity None of the above

Resonate (correct)

Which sales promotion objective aims to encourage or promote an emphasis on selling certain brands more than other brands? Market share-related Retailer-related Sales force-related

Retailer-related (correct)

Aldi charges customers a quarter deposit is refunded when those customers return their carts. This practice is known as:

Reverse-incentivizing

---------- entail(s) the application of specialized proficiencies via the execution of actions and processes for purposes of benefitting other entities (usually customers).

Reward systems Customer relations Customer incentives Services delivery (correct) Buying behaviors

Media selection is becoming more critical. Why? Rising media costs The reduced importance of advertising The shrinking demand for and usage of broadcast media All of the above None of the above

Rising media costs (correct)

Consider the model of consumer behavior. Which of the following stages is not a step in the consumer decision-making process?

Risk assessment

_____ is challenging, but manageable, because reasonable estimates of probability or certain known outcomes happening can be estimated based on available data. _____ on the other hand, in not manageable. What might happen is unclear, and the probabilities of the unknown are also unknown.

Risk, Uncertainty

Planners must manage two types of risks. Those two risks are

Risks of sinking the boat or risks of missing the boat

Planners must manage two types of risks. Those two risks are:

Risks of sinking the boat or risks of missing the boat

Planners must manage two types of risks. Those two risks are:

Risks of sinking the boat or risks of missing the boat (correct)

Which of the following is not among the top five corporate donors to charitable causes? Pfizer Roche Merk Eli Lilly All of the above are among the top five

Roche (correct)

When consumers are engaged in __________ the decisions and products usually feature (a) little to no risk; (b) low (relative) costs, including the costs associated with making bad choices; and (c) little to no information search. The menu of solutions is already known.

Routine Problem-Solving

The smallest business unit within any firm for which independent planning can be done and independent resources exist is commonly known as a:

SBU

The smallest business unit within any firm for which independent planning can be done and independent resources exist is commonly known as a:

SBU (correct)

An automobile could be positioned to satisfy customer needs at which three levels of Maslow's Hierarchy of Needs:

Safety, social (belongingness and love), and self-esteem.

Which promotional element ___________ primarily delivers short-term incentives?

Sales promotions

__________ deliver(s) short-term incentives aimed at encouraging near-term customer purchases of products or services. Near-time, here, would usually involve forty-eight to seventy-two hours. __________ also deliver(s) short-term incentives.

Sales promotions

The use of __________________________ work(s) effectively because the promotional approach is infused with _________________ that encourage recipients to engage in behavior in order to obtain this reward.

Sales promotions; incentives

What type of product features low immediate appeal while delivering longer-term benefits? Deficit products Pleasing products Salutary products Desirable products Positional products

Salutary products (correct)

The word---------- suggests that unpleasant or unwelcome experiences sometimes actually generate beneficial longer-term effects. ---------- products are characterized by low immediate appeal (failing to deliver much short-term satisfaction) while featuring high potential for benefitting customers longer-run

Salutatory

Who pioneered the everyday low pricing tactic in 1962?

Sam Walton

Which of the following typical sales promotion tools best exemplifies the success of the tobacco industry during the first and second World Wars? Samples and sampling Coupons Rebates Special price deals None of the above.

Samples and sampling (correct)

What sales promotional tool regularly draws customers to Costco or Sam's on weekends? Sampling Rebates Spiffs Point-of-sale displays

Sampling (correct)

Consumers experience different types of feelings and/or emotions after making their purchases. The most basic post-purchase consumer feelings or emotions are:

Satisfaction, Dissatisfaction, or Delight

What is the best supply chain design? The supply chain that:

Satisfies customers' needs at optimal costs.

What is the best supply chain design? The supply chain that: Reduces overall costs for all partnering firms. Best satisfies customer needs. Best optimizes efficiency. Minimizes the conflict. Satisfies customers' needs at optimal costs.

Satisfies customers' needs at optimal costs. (correct)

The discussion about Martin Luther King and the civil rights movement illustrates how and why strategists are often better off when they:

Scan their environments continuously, identify opportunity, and only then establish goals.

The discussion about Martin Luther King and the civil rights movement illustrates how and why strategists are often better off when they:

Scan their environments continuously, identify opportunity, and only then establish goals. (correct)

Which of the following concepts is not a criteria that marketing managers should evaluate when determining whether they have created an attractive segment:

Scope

__________ is information that already exists because it was previously collected for other purposes.

Secondary

Which type of information can usually be collected at the lowest costs by marketing researchers?

Secondary information

Consumerism:

Seeks to expand the rights and power of consumers.

The act of grouping together consumers or organizations that share certain characteristics in common is called:

Segmentation

At its core, the marketing activity known as _______________ entails grouping together consumers that share various immutable traits (such as race) and variable characteristics (such as attitudes or beliefs) in common.

Segmenting

When they evaluate the attractiveness of similar smaller groups existing inside much larger markets, marketers are examining:

Segments

Someone who alters the information he or she reads so that it will be consistent with his or her existing beliefs and attitudes is engaged in:

Selective distortion

Logically summarized as how consumers feel about themselves, the term known as __________ can also be defined as the mental images consumers possess and enjoy/endure about themselves and their strengths, weaknesses, or social status

Self-concept

Is the NFL (the National Football League) primarily a service or a product?

Service

Starbuck's addresses and solves the problem known as ____ by using the LATTE recovery approach to solve customers' problems.

Service failures

In which type of market is brand loyalty influenced more by customers' experience than by advertising and other promotional efforts?

Service markets

Intangible products are also known as:

Services

Which statement is most true?

Services are intangible

The average American consumer spends more than ______________ hours per day staring at a screen.

Seven

The average American consumer spends more than ______________ hours per day staring at a screen.

Seven (correct)

__________ is the normative belief that when promises are made they prove to be promises kept.

Shared trust

The most desirable shelf space for B2B marketers who sell their products to and through grocery stores resides at or on _________________. The top of the shelf The bottom of the shelf Shelf space at the ends of aisles Shelf space right in the middle of aisles The uppermost of the topper-most shelf space, all because human eyes are naturally inclined to look-up

Shelf space at the ends of aisles (correct)

Which answer describes a logistical function that is performed inside all supply chains?

Shipping

Which logistical function is highly specialized, often globalized in nature, and has achieved mind boggling economies of scale? Delivery Order processing; think Amazon Shipping Sorting Warehousing

Shipping (correct)

------------- goods are those for which consumers compare alternative brands against one another or compare the same brands across multiple retail settings prior to making a purchase decision.

Shopping (correct) Durable Specialty Convenience B2C

The sort of consumer goods that individuals purchase without much effort and that are highly available (widely distributed throughout the marketplace) called a ...

Shopping good Specialty good Unsought good Convenience good (correct) Positional good

Purchases for------------are unplanned. Decisions to buy this product type and brand are made on the spur-of-the-moment as consumers are ostensibly shopping for other products.

Shopping good purchases Staple good purchases Impulse good purchases (correct) Variety-seeking Low involvement products

When ads grounded in slice of life messaging styles are targeted at men, the ads usually: Demonstrate how using the product will increase their connectedness to others. Show how the product will help them rise up in some sort of hierarchy. Demonstrate how they will get ostracized or criticized more frequently if they fail to make the right choice. All of the above.

Show how the product will help them rise up in some sort of hierarchy. (correct)

Which pricing objective can be best described as highly customer self-interested in nature?

Signaling socially responsible virtues

Which of the following is not one of the key pricing objectives for most brands, but instead should only be used occasionally to inform customers' pricing decisions in special strategic contexts? Targeting profit margin returns Signaling socially responsible virtues Earning targeted market share Ensuring survival during challenging times

Signaling socially responsible virtues (correct)

Marketers usually should strive to introduce products to the market that are as _____________ as possible for purchasers to use. Complex Intricate Simple Interesting Fascinating

Simple (correct)

Supply chains and their management are __________________ and ________________.

Simple; indispensable

What Hebrew word means "missing the mark?" Morals Sin Conscious Ethics Shalom

Sin (correct)

The personality of the Hallmark Greeting Card brand (i.e., Hallmark's brand personality), is best described as: Rugged Existing Sophisticated Humorous , a cut-up Sincere

Sincere

What type of risk involves losing overly huge bets that could ultimately ruin the organization?

Sinking-the-boat

Professionals guided by _________________________________ generally do whatever the situation allows them to get away with, without regard to the wider longer-term good of their firm or themselves.

Situational ethical values

Professionals guided by _________________________________ generally do whatever the situation allows them to get away with, without regard to the wider longer-term good of their firm or themselves. Sustainable ethical values Personal moral beliefs Situational ethical values Justifiable moral values

Situational ethical values (correct)

Which advertising execution style shows real-life problems rising-up (and being solved) in dramatic situations? Emotionally-based Lifestyle-based Slice of life Testimonial Expert witness, such as doctors endorsing a drug

Slice of life (correct)

Which of the following is not an environmental trend?

Slightly less than half of adults in the US - a record low - are married. The percentage of people in the US who regularly attend church, mosque, synagogue, or temple, is lower than at any point in US history, and dropping further year by year. Between 2000 and 2016 global apparel production doubled. Spring is the real time for making New Year Resolutions. Most weddings, gym memberships, new makeup sales and healthy diets rise during this Season. All of the above are environmental trends. (correct)

Which of the following is not an environmental trend?

Slightly less than half of adults in the US - a record low - are married. The percentage of people in the US who regularly attend church, mosque, synagogue, or temple, is lower than at any point in US history, and dropping further year by year. Global apparel production essentially doubled between 2000 and 2016. Spring is the real time for making New Year Resolutions. Most weddings, gym memberships, new makeup sales and healthy diets rise during this Season. All of the above are environmental trends. (correct)

Marketing segmentation, the process, creates:

Smaller, more homogenous groups

Which of the following social media platforms facilitates the lowest viral-ability?

Snapchat

Which social media platform provides lower levels of viral-power because it is designed to reduce the share-ability of messages? Facebook Twitter Instagram Snapchat None of the above

Snapchat (correct)

The most creative professionals often excel at problem-solving because they conscientiously couple ____________ questions with _____________ questions.

So what; why not

When marketers target member groups such as a fraternity or motorcycle club, they are considering a _________ factor

Social

__________ exist as relatively enduring and ordered divisions inside the American population. The consumer membership inside each __________ category is relatively homogenous in nature.

Social classes

____________ _______________ exist as relatively enduring and ordered divisions inside the American population.

Social classes

_____exist(s) as relatively enduring and ordered divisions inside a population.

Social classes

__________________ often create feelings of envy, covetousness and dissatisfaction.

Social comparisons

Consumers' involvement levels are materially impacted by all of the following except:

Social group-initiated word-of-mouth

The third level of needs inside Maslow's Hierarchy of Needs is:

Social in nature

The third level of needs inside Maslow's Hierarchy of Needs is:

Social in nature.

Most American consumers (and citizens) usually view a small amount of _________________ as a appropriate safety net. Capitalism Socialism Globalization Marketing

Socialism (correct)

Earning the reputation for making decisions and behaving in __________________ fashions generally elevates the value of marketing brands across the long run.

Socially responsible

The supply chain norm called ___________ is embodied in the sense that even when times are challenging, we are will work things out together.

Solidarity

Supply change relationships that successfully bind together marketing organizations as cooperating partners are generally based on the presence of certain desirable norms and values. These norms and values include shared trust, collective acceptance, shared commitments, _____________and _______________. Benefits; gains Collaboration; cohesion Solidarity, reciprocity Made promises; kept promises Commitment; cohesion

Solidarity, reciprocity (correct)

The primary purpose of marketing strategies is to develop the best way to ________:

Solve customer's problems.

Which of the following is not one of the typical communication goals for marketers? Solving customers' wants and needs Informing targeted customers Reminding targeted customers Persuading targeted customers Creating new/strengthening old customer relationships

Solving customers' wants and needs (correct)

"Breaking bulk" is that refers to the _________________ function inside supply chains.

Sorting

What supply chain function entails creating right-sized product assortments in order that 1) customers can buy the quantities they seek to acquire and that 2) organizations can make the larger quantities they typically seek to manufacture?

Sorting

"Breaking bulk" is that refers to the _________________ function inside supply chains. Storage Shipping Financing Sorting Inventory management/order processing

Sorting (correct)

At what point do traditional supply chains begin?

Source firms

The term marketing channels fails to account for the role played by:

Source firms.

Which sales promotion tool would Kroger be using if the grocery store chain offered a 10 for $10 sale on Frosted Flakes cereal?

Special price deals

The need to achieve---------- invariably prevails inside supply chains and generally plays out in the form of one marketing organization's ability to perform a given supply chain function more effectively than its partnering firms can perform the function for themselves

Specialization

What value that is routinely delivered by supply chains permits partnering firms to concentrate on doing what they do best?

Specialization

Consumers typically buy-------------- goods based on variety seeking, impulse, and inertia behaviors.

Specialty Convenience (correct) Shopping High involvement Ethnic

Candice insists on buying only Revlon cosmetics. Rather than purchasing other brands when Revlon is not available, Candice will postpone her purchase or drive substantial distances to find her preferred brand. To Candice, Revlon is what marketers refer to as a (select the best answer):

Specialty product.

_________________ is/are money paid by manufacturers to a retailer's sales force to motivate those people to do something sales-promoting manufacturers seek to have done.

Spiffs

During which stage of the NPD process should marketers ask and answer what are our primary firm's goals and what are our targeted customer's primary (or only) problem(s)?

Stage 1

The ability to act and decide creatively proves most important during which stage of the NPD process? Stage 1 Stage 2 Stage 3 Stage 4 Stage 5

Stage 2 (correct)

During which new product development stage are most ideas eliminated?

Stage 3

Which brand category generates the most cash?

Star Brands

Value is the difference, hopefully negative, between the benefits gotten and the costs given up that are associated with owning and using a product. Alternatively, value can be described as the problem-solving or need-satisfying ability of any branded product. Read each statement carefully.

Statement 1 is false; statement 2, true

Statement 1 is false; statement 2, true.

The risks associated with engaging in innovation are high. But the long-term rewards associated with innovation usually outweigh the risk.

Statement 1 is true; statement 2 is false. Statement 1 is false; statement 2 is true Both statements are true (correct)

Marketing success is mostly based upon being skillful enough to manipulate customers into doing what best satisfies the marketer's best interests. Marketing success is also based upon being skillful in conceiving or creating values that best satisfy the interests (i.e., wants, needs, and problems) embedded inside targeted customer segments. Which statement best honors the marketing concept?

Statement 2

"Baud" is a strange-looking but genuine contemporary word used at various places throughout the book. Baud measures the rate or velocity at which monetary exchanges travel across the internet.

Statement 2 is false.

Statement A: Many products feature a substantial service—or intangible—component. Statement B: Many services feature a substantial product—or tangible—component.

Statements A and B are each true.

Who said "It is not a customers' job to know what they should want;" thereby implying that marketers should inform consumers about what they, those consumers, should want. Bill Gates Donald Trump Steve Jobs Barak Obama Mark Zuckerberg

Steve Jobs (correct)

A(n) __________ is anything that incites, rouses, or provokes (motivates) consumers to take an action, think, experience emotions, or respond in some other way.

Stimulus

Which service characteristics best describes the fact that organizations cannot store up, or inventory, services to satisfy customer demand during high demand periods?

Storability Variability Inseparability Perishability (correct) Intangibility

The demand for services typically varies across the time of day, month, or year. What can service marketers do to ensure that they satisfy demand during these peak demand periods?

Storing-up services now for future peak demand. Forecasting demand and storing-up services in an anticipation of higher demand. Understanding the reasons that drive these fluctuations in service demand Ensuring that sufficient numbers of service providers are available as demand peaks (correct) All of the above represent steps that service marketers could take

When conducting a SWOT analysis _______ and ________ exist within (i.e., are internal to) the firm.

Strengths and Weaknesses

The acronym SWOT, when written-out in full (all four words), means:

Strengths, Weaknesses, Opportunities, and Threats

---------- describes the appearance of products, down to their websites, packaging, or the colors that accompany or complement their brands products. In fact, everything that directly or indirectly communicates anything about branded products relates to their ----------

Style

___________________ describes the entire package of product characteristics or features that directly or indirectly communicate anything about a branded product.

Style

Absent the presence of this leveraging tool marketers will surely fail, but the tool usually is no longer a winning point of differentiation all by itself.

Style Design Service Experience Quality (correct)

What automobile marketer incidentally discovered, through marketing research, that one of its automotive brands was extremely popular among the lesbian market segment?

Subaru

The act of market segmentation involves:

Subdividing larger markets into smaller subset

Market segmentation involves .......

Subdividing larger markets into smaller subsets.

________________________ effects can be described as people's whims, desires and fears that operate and influence people below the threshold of human awareness.

Subliminal

Which answer best explains how marketers can succeed?

Successful marketers stand-out rather than fit-it.

The "Concept Test" is most closely affiliated with developing

Successful new products; the test weeds out good ideas from bad.

The "Concept Test" is most closely affiliated with developing Effective advertising messages; this is the source of Big Ideas. Successful new products; the test weeds out good ideas from bad. Successful marketing strategies; this is where effective differentiating is born. Successful positioning; because this is where effective positions are identified.

Successful new products; the test weeds out good ideas from bad. (correct)

What is the main problem associated with using the PLC concept as a tool to guide marketing mix decision-making?

Successfully introducing new products into the market. Successfully gaining and maintaining profit share. Successfully developing new products to replace declining products. Successfully determining which stage of product is in the life cycle. (correct) Successfully minimizing the organization's sunk costs and/or switching costs.

Nair is a good brand name because the name

Suggests the product's benefits

The author of the book The Art of War was:

Sun Tzu

__________ are costs that have already been made and cannot be recovered.

Sunk costs

__________________ are costs that have already been made and cannot be recovered.

Sunk costs

Which of the following statements was not discussed as a value that emanates from the planning process. Planning facilitates:

Superior positioning

Which of the following statements was not discussed as a value that emanates from the planning process. Planning facilitates:

Superior positioning. (correct)

______________ involve(s) planning, implementing, and controlling the flow and storage of products and services from their points of origin to their points of consumption ... and always have the end goal of satisfying customer needs in mind. Marketing channels organizations Logistics strategies Supply chain management Marketing management None of the above

Supply chain management (correct)

acronym SCA, written out in full, stands for:

Sustainable competitive advantage

Well-managed supply chain relationships offer many marketing organizations their last and best chance to secure (achieve): Core competences Brand positioning Brand equity Sustainable competitive advantages Technological advantages.

Sustainable competitive advantages (correct)

Nestle seeks to reduce its dependence on fossil fuel by using more renewable energy sources. What sort of ethical decision making framework is Nestle using?

Sustainable ethical decision -making

Professionals guided by __________________________________ make decisions as if they realize they or their descendants will always be there resulting in behavior that sustains or lifts up.

Sustainable ethical values

Prior to making an important decision, intelligent marketers should consider:

Suzy Welch's 10-10-10 rule

Prior to making an important decision, intelligent marketers should consider:

Suzy Welch's 10-10-10 rule (correct)

__________________ are costs that have already been made and cannot be recovered.

Switching costs Prospective costs Future costs Sunk costs (correct)

__________ are costs that have already been made and cannot be recovered.

Switching costs Prospective costs Future costs Sunk costs (correct) Recovery costs

Regardless of their dominant form, brands primarily exist as:

Symbols

The symbols that marketers use to differentiate their brands matter greatly because :

Symbols can say in an instant what words cannot.

The symbols the marketers use to differentiate their brands matter greatly because : Symbols can say in an instant what words cannot. Symbols are more easily remembered than designs or colors. Certain languages, including most prominently, Chinese, are based on symbols. Consumers, in particular, are more likely to hate on words or designs than they are to dislike symbols.

Symbols can say in an instant what words cannot.

A great marketing tactic, one related to managing customer expectations, is to "under-promise" (values and benefits) and "over-deliver" (values and benefits).

TRUE

Almost every marketer should wake up thinking, how can I ethically make price a less important consideration inside my customers' or prospects' minds as they deliberate purchasing decisions?

TRUE

As compared to products, services are intangible, inseparable (from their point of production and producer); perishable; and variable (in terms of their quality).

TRUE

Attitudes are more deeply-held than beliefs and are more influential on consumer behavior

TRUE

Brands are not just symbols, they are also psychological constructs

TRUE

Brands, regardless of their dominant form (colors, designs, signs, names), exist as symbols.

TRUE

By themselves, symbols such as Nike's swoosh or McDonald's golden arches have no value

TRUE

CB, or Consumer Behavior, generally relates to the factors that motivate or otherwise stimulate different types of consumer decision-making (i.e., high/low involvement; extensive or routine problem-solving).

TRUE

Change is rarely linear regardless of whether changes are unfolding under harsh warlike conditions or emerging as normal and expected, cultural, economic or scientific transitions and progress.

TRUE

Change is rarely linear regardless of whether changes are unfolding under harsh warlike conditions or emerging as normal and expected, cultural, economic, or scientific transitions and progress (True or Flase)

TRUE

Conflict is inevitable inside supply chain relationships.

TRUE

Consumer decisions are often motivated (driven) by subliminal fears.

TRUE

Defined technically, environmental-scanning entails observing, researching, and interpreting various, almost inevitably uncontrollable environment trends that might impact an organization. Explained more practically, environmental-scanning is a process that entails continuously monitoring firms' external and internal environments

TRUE

Descriptive / diagnostic information must come before prescriptive information

TRUE

Descriptive / diagnostic information must come before prescriptive information.

TRUE

Domestic marketers manipulate too many American consumers to purchase products or services that those individual consumers don't need and/or cannot afford.

TRUE

During most consumer decision-making processes consumers fail to engage deeply with branded products.

TRUE

Environmental trends are patterns of gradual or more rapid change unfolding along an environmental dimension.

TRUE

Every element of the marketing mix (i.e., product, price, promotion, or place) can be used to position a brand.

TRUE

Failed pricing strategies rarely prove fatal to firms.

TRUE

For any organization, its mission equals its vision equals its (basic) goals (True or False)

TRUE

For any organization, its mission equals its vision equals its (basic) goals.

TRUE

For determinant differences to exist, actual or perceptual differences must exist between brands. And the brand difference must be important to customers as they decide which brand to purchase.

TRUE

Heterogeneous—in marketing, the word means (markets that) consist of dissimilar or diverse constituents.

TRUE

In today's marketing world the primary reason for using public relations is to clean up messes and issue apologies to key segments or publics.

TRUE

Information that is collected through marketing research can be reliable without being valid.

TRUE

Invention-the word refers to a dimension of uniqueness-newness related to the form, formulation, or function of something.

TRUE

Market(s)-consist(s) of all actual or potential customers for products or services (True or False)

TRUE

Market(s)—consist(s) of all actual or potential customers for products or services.

TRUE

Marketers should listen to understand, not to decide if someone or the information their communication dance partner is conveying is right or wrong.

TRUE

Marketing channels are organized collections of independent organizations that interdependently partner in executing distribution processes.

TRUE

Marketing research is almost always an analytical, fact-base (which means empirical), and data-driven process.

TRUE

Marketing research related problems that are well-defined are already half-solved

TRUE

Marketing-Level Planning --- Goals of planning for purposes of managing the organization's "marketing mix" in ways that create differentiating-value and uniquely-desirable positions for brands as the organization targets specific market segments (True or False)

TRUE

Marketing-Level Planning—Goals of planning for purposes of managing the organization's "marketing mix" in ways that create differentiating-value and uniquely-desirable positions for brands as the organization targets specific market segments.

TRUE

Most new product development efforts involve are simple additions to/deletions from existing products.

TRUE

Most of the time, no matter what the decision, consumers choose the choice that they perceive will deliver the most value to them.

TRUE

On any given day, more than half of the women in the US are dieting.

TRUE

One major reason supply chain relationships are so important is the cost advantages or disadvantages that are gained or lost inside the supply chain directly affect firms' bottom lines; i.e., their profits or losses.

TRUE

One of the best ways to understand needs is as states or conditions of felt or perceived deprivation.

TRUE

One primary reason that marketing researchers investigate the personalities of consumers is to create opportunities to match the personalities of their brands with the dominant personality traits of consumers.

TRUE

Positioning can capture either the way a branded product is defined by consumers on important attributes or the place a brand occupies inside consumers' minds.

TRUE

Positioning is something marketers (i.e., firms) should do to customers before customers do positioning to marketers. The statement is:

TRUE

Risk is more tolerable than uncertainty because the full range of outcomes are known

TRUE

Risk is more tolerable than uncertainty because the full range of outcomes are known (True or False)

TRUE

SWOT is an acronym. The lettes S and W stand for Strengths and Weaknesses; O and T indicate Opportunities and Threats. Strengths and weaknesses exist inside the organization; opportunities and threats exist outside the organization—opportunities and threats would exist independently inside the firm's external environment even if the firm did not exist. Each preceding statement is:

TRUE

Surprisingly large percentages of consumers engage in competitive consumption; efforts to catch up with or keep ahead of other consumers by acquiring and publically consuming various luxury goods.

TRUE

The BCG Market Share-Product Portfolio Panning matrix exists to identify the best or worst brands (inside any firm's product portfolio) in which marketers might invest their limited resources.

TRUE

The Marketing Mix is the tool that marketing firms manage with the intent of creating hopefully-differentiating communication messages for the branded products.

TRUE

The US Air Force, Army Marine Corp, and Navy are all marketing organization and powerful brands with their own identity and core competency (True or Flase)

TRUE

The Viagra brand name is based on an intersection between the words "vigorous," "virile" or "vigor," and "Niagara."

TRUE

The best designs are those that are conceived and constructed to be as simple as possible, easy on the eyes, as well as easy to use.

TRUE

The fact that the membership of segments share much in common implies the segment's constituents are more likely to respond positively or negatively to particular marketing mixes, and to the distinct sets of values (benefits, solutions) that those marketing mixes create.

TRUE

The first rule of storytelling is "Make me care":

TRUE

The marketing of positioning goods often inverts (turns upside down) traditional pricing laws; meaning that higher brand prices often actually increase demand for the branded item.

TRUE

The opportunity to pay through installment pricing options allows customers to feel more in control of their cash flow.

TRUE

The terms luxury brands and positional goods are often synonymous.

TRUE

To a surprising extent, customers often view price cuts as a bad thing. This statement is:

TRUE

Too many marketing firms lack the right sort of information as needed to plan and perform at optimal levels of efficiency.

TRUE

When marketing a commodity (as opposed to a finished good), undifferentiated targeting is generally the most appropriate strategy.

TRUE

When marketing new songs, movies, or fashion, the best spot-the sweet spot-for new product developers to target is new stuff that simultaneously feels fresh and familiar

TRUE

Without exchange, marketing would be impossible.

TRUE

Even numbers are more powerful than odd numbers when presenting or designing a product or message. This statement is:

TRUE FALSE (correct)

The success of B2B marketing efforts, generally, is driven by the satisfaction of customer wants. The success of B2C marketing efforts, generally, is driven by the satisfaction of customer needs.

TRUE FALSE (correct)

Absent any exaggeration, supply chain professionals can boast how crucial their role is in satisfying B2B and B2C customers alike, and that supply management is crucial from cradle to grave-or from dirt to dirt. --TrueFalse

TRUE (correct)

Accepting and leading change is essential in creating desirable futures in which we live, work and play.

TRUE (correct)

An inverse relationship exists between advertising expenditures and overall consumer satisfaction inside the US. --TrueFalse

TRUE (correct)

Blending-inside NPD settings-involves mixing solutions from previously related or unrelated sources together in new ways. --TrueFalse

TRUE (correct)

Conflict arises naturally inside supply chains. This statement is: --TrueFalse

TRUE (correct)

Cost-based pricing entails establishing prices based on the costs of successfully making and marketing a product and earning an acceptable margin or profit. --TrueFalse

TRUE (correct)

Even when using penetration pricing strategies, marketers should rarely if ever use the word cheap to describe the prices of their brands/products. --TrueFalse

TRUE (correct)

For any organization, its mission equals its vision equals its (basic) goals.

TRUE (correct)

In any given day, more than half of the women in the US are dieting

TRUE (correct)

Invention-the word refers to a dimension of uniqueness-newness related to the form, formulation, or function of something. --TrueFalse

TRUE (correct)

It is not only ethical but strategically appropriate to switch to new supply chain partners if other partners can be identified who can perform the function less expensively, more efficently/effectively, or both. --TrueFalse

TRUE (correct)

Laws and regulations affect marketing mix activities.

TRUE (correct)

Managing innovation processes successfully is more a matter of subtraction than addition. --TrueFalse

TRUE (correct)

Many shades of gray are in place in most ethical marketing decisions. --TrueFalse

TRUE (correct)

Market(s)—consist(s) of all actual or potential customers for products or services.

TRUE (correct)

Marketers should listen to understand, not to decide if someone or the information their communication dance partner is conveying is right or wrong.

TRUE (correct)

Marketing channels are organized collections of independent organizations that interdependently partner in executing distribution processes. --TrueFalse

TRUE (correct)

Most new product development efforts involve are simple additions to/deletions from existing products. --TrueFalse

TRUE (correct)

On any given day, more than half of the women in the US are dieting.

TRUE (correct)

Politics is marketing; marketing is politics, all because political marketers confront the need to promote ideas by adjusting their messages to fit the wants and needs of target audiences.

TRUE (correct)

Risk is more tolerable than uncertainty because the full range of outcomes are known

TRUE (correct)

Spiffs is a slang word for money paid by manufacturers or distributors to retailers/retailers' sales forces in order to motivate (incentivize) retailers/retailers' sales forces to do something that the spiffing manufacturers or distributors seek to have done. That is, spiff is slang for push money. --TrueFalse

TRUE (correct)

Strategic-Level planning entails of planning for purposes of meeting and beating the competition in ways that ensure the long-run survival and success of the organization.

TRUE (correct)

The power of any person's creativity, once established, rarely if ever fades. --TrueFalse

TRUE (correct)

As compared to products, services are intangible, inseparable (from their point of production and producer); perishable; and variable (in terms of their quality).

TRUE (correct) FALSE

The best designs are those that are conceived and constructed to be as simple as possible, easy on the eyes, as well as easy to use.

TRUE (correct) FALSE

The terms luxury brands and positional goods are often synonymous.

TRUE (correct) FALSE

Creativity never entails creating something from nothing (which is impossible, anyway). Instead, creativity generally entails bending, breaking, or blending. Blending, itself, entails : Taking something and altering some property or aspect of the "something." Taking something apart and putting it back together again, in a more useful way. Taking previously unrelated or related "somethings" and mixing them together. Something else entirely different from a, b, or c above.

Taking previously unrelated or related "somethings" and mixing them together. (correct)

Which of the 3T's is the least finite resource?

Talent

Which of the three "T's" is the most indespensable?

Talent

The market diversification growth strategy is one where firms:

Target new products to new market segments.

Which pricing tactic establishes prices based on the best strategic estimates of marketers? Cost-based pricing Dynamic pricing Targeted pricing Prestige pricing Penetration pricing

Targeted pricing (correct)

Marketers should "fish" in ponds, rivers, lakes or oceans where specific "consumer" types are most likely to be found. What marketing activity is depicted in the preceding analogy?

Targeting

When marketers strategically choose to use nostalgia in their messages while strategically pursuing customers whose ages end in 9 (29, 39, 49...) they are leveraging the power of?

Targeting

__________ entails evaluating the various segments that have been identified as more or less attractive and deciding which ones to pursue

Targeting

__________ entails evaluating the various segments that have been identified as more or less attractive and deciding which ones to pursue.

Targeting

When marketers strategically choose to use nostalgia in their messages while strategically pursuing customers whose ages end in 9 (29, 39, 49...) they are leveraging the power of?

Targeting (correct)

The statement that marketers should not just "Fish where the fish are" [but rather] "Fish where the fish are more likely to take your particular type of bait" was used to the importance of:

Targeting and positioning

The statement that marketers should not just "Fish where the fish are" [but rather] "Fish where the fish are more likely to take your particular type of bait" was used to the importance of:

Targeting and positioning.

Which answer is NOT a brand level?

Technological brand characteristics

Ford Motor Co.'s decision to stop producing traditional sedan passenger cars illustrates a strategic response to:

Technology development. Higher demands for corporate social responsibility. Ever-changing customer preferences. (correct) Innovation, which facilitated the introduction of superior products. Changes competitor pressures

Some types of technology or technology-based firms have been described as BAAD. What types?

Technology giants that are too big, too anticompetitive, too addictive and too destructive

Some types of technology or technology-based firms have been described as BAAD. What types?

Technology giants that are too big, too anticompetitive, too addictive and too destructive (correct)

The most successful brands are usually those that are best able to _____________________.

Tell the best stories

Pinkwashing is an unethical marketing practice. Pinkwashing occurs when marketers promise or imply: That a product or brand will benefit the environment even though this is not true. That highly desirable brands (products) will be available for really low prices on a given day when in fact only a handful (three to five) of such products are available. That a portion of the price paid will go to charitable causes when in fact only an extremely small percentage goes to support said charitable causes. Promises great returns (as in investment returns) when in fact only the first few people "in" actually earn high returns while the later investors are screwed.

That a portion of the price paid will go to charitable causes when in fact only an extremely small percentage goes to support said charitable causes. (correct)

The Honey Badger is used as a metaphor to illustrate:

That marketers should stay concentrated by focusing on their strengths and core competences

Which answer best reflects the principle that marketers' strategic plans should either increase revenues or decrease costs, or generate both outcomes.

The "Gold Rules" Rule

Which rule emphasizes the importance of evaluating the consequences of a strategic decision?

The 10-10-10 Rule

Which rule emphasizes the importance of evaluating the consequences of a strategic decision?

The 10-10-10 Rule (correct)

We use the catchy acronym the ____ to describe the amount and type of resources that any firm or organization enjoys:

The 3T's

We use the catchy acronym the ____ to describe the amount and type of resources that any firm or organization enjoys:

The 3T's (correct)

The reason why consumers typically ascribe (assign) higher value to goods (assets) than they are actually worth to products they already own is called (the):

The Endowment Effect.

Strategic planners should always dance close either to the revenue or cost line, or both, as they plan. If finished plans do not elevate revenues or tamp down costs, or achieve both outcomes, change and improve the plan. This principle, which is correctly state, most closely illustrates:

The Gold Rules principle All of

The Gold Rules principle.

What marketing planning law emphasizes the importance of a marketing organization and its brand/brands acquiring and controlling a word in the market?

The Law of Focus

Strategic planners should take into consideration:

The Past The Present The Future

The __________________ refers to a planning issue related to making decisions that allow strategists to learn from their mistakes (if the mistake is not devastating in nature), while at the same time taking risks that are big enough to benefit their organization if "the bet"

The Waterline principle

core competencies

The ability of firms to differentiate and position successfully generally follows from their possession of relative or absolute core competencies. Core competencies can be derived from various sources. Sources of core competencies might include talent, resources (cash on hand), technological or design skills, accumulated experience, patent protections, brand power, brand loyalty, first-to-market or top-of-mind advantages, etc. Soup to nuts, three and only three core competencies exist: cost leadership, technological leadership, or [greater] customer intimacy. Marketers must achieve differentiation based on one or more of these exact core competencies.

What is the most important value and opportunity that supply chains provide to the firms who partner and collaborate inside them (i.e., inside supply chains)? The ability to earn flows The ability to specialize The ability to gain cost savings The ability to achieve efficiency All of the above

The ability to specialize (correct)

differentiation

The act entails strategic attempts to create the perception/reality that one brand is different from and better than alternative branded solutions. Differentiation is inextricably linked with positioning.

Why do people choose one rather than another alternative in situations where decision-makers possess the power (resources) and opportunity to choose any alternative they want?

The answer relates to deciders' perceptions of value, right? The answer is that decision-makers inevitably choose alternatives that they perceive deliver the most value to them.

The author of the book The Art of War was:

When setting prices, the price floor is usually defined by _________ of producing and marketing the product.

The average total costs

In statistical assessments, the measurement known as mean is the:

The average value

Occam's razor implies that:

The best solutions to complicated problems are usually the simplest.

The core element inside any advertising message that also drives the message is typically described as the:

The big-idea.

The core element inside any advertising message that also drives the message is typically described as the: Sustainable competitive advantage (SCA). The unique selling proposition (USP). The big-idea. The point-of-difference (POD).

The big-idea. (correct)

Which answer best describes Dr. Martin Luther King's response as he almost immediately organized a bus boycott after the Rosa Parks incident?

The boycott resulted from his opportunistic mindset.

The main reason that Burger King lost its branding edge and has never fully recovered follows from the fact that:

The brand dropped its "have it your way" big idea.

Which brand wins in a competition among brand A, B, and C?

The brand that delivers the most value

Two conditions must be present in order for a product (brand) difference (in a branded product) to be determinant. These conditions are:

The difference must be real (genuine) and the difference must be important to customers as they make decisions.

Which of the following reasons (i.e., factors) is often associated with high rates of new product failure?

The dogs won't eat the dog food.

Brand equity refers to: The extent to which customers are willing to pay more for a product or service. The promises made by a successful brand. The wealth or ownership stake that firms must expend to achieve branding success. The fact that brands exist not only in the real world but also in the minds of customers.

The extent to which customers are willing to pay more for a product or service.

Many if not most consumers take things, even formerly new and exciting things, for granted after a while. This statement is correct/true. Does this fact represent a threat or opportunity to new product developers, or does this fact represents an opportunity something else altogether?

The fact represents an opportunity.

Changes don't always represent progress. But changes are always necessary for progress to occur.

The first statement is false, the second true. The first statement is true, the second false.

Supply chains and their management are indispensable for high-tech products. However, for low-tech products, such as pencils, the role that supply chains play is not as vital. Both statements are true. Both statements are false. The first statement is true; the second statement is false. The first statement is false; the second statement is true.

The first statement is true; the second statement is false. (correct)

The process of marketing segmentation requires division. The process of marketing segmentation also requires addition.

The first statement, and it alone, is true.

What is a want?

The form needs take or assume as they are influenced by culture and individual personality

Wants are:

The form that needs take as they are influenced by culture and individual personality.

Wants are:

The form that needs take as they are influenced by culture and individual personality. (correct)

Which idea suggests that managers should be judicious about the measurements they instill inside their units, because individuals may try to anticipate the effect of a policy and take actions that alter its outcome

The good-heart principle

Which of the following statements was economist's Milton Friedman referencing when he said: "If the U.S. were in charge of the Sahara Desert the nation would quickly run out of sand"?

The governments poor treasure management

The three ellipses depicted in the Toyota logo symbolizes a number of hearts. Which of the following is not one of the hearts in the Toyota logo?

The heart of opportunity

Two students, Jeff Spicoli and "The Dude," were studying for an exam in their marketing course. While studying the supply chain Module, "The Dude" made the following statement: "If it weren't for wholesalers and other supply chain intermediaries, the products we buy would cost a lot less!" After contemplating The Dude's words, Spicoli replied, "Wait a minute. We learned that supply chain intermediaries actually provide different types of utilities for customers that producers and retailers either cannot or do not want to perform for themselves." The Dude's statement refers to:

The highly specialized value that can be created by intermediaries.

The highly specialized value that can be created by intermediaries. (correct)

position (market)

The image and set of benefits (i.e., problem-solving values) presumably associated with branded products.

___________ represents the lowest common ethical denominator on which a majority of the members of a society can agree.

The law (or legal standards)

This test determines whether the firm already possesses or could produce an effective marketing strategy, an effective marketing mix, and the resources necessary to successfully commercialize the new product. Commercialize means actually bringing-introducing-the new product to market. The concept test The product use test The market test

The market test (correct)

________ is a philosophy that puts customers, and identifying and satisfying their wants and needs first; as long as firms profit.

The marketing concept

________ is a philosophy that puts customers, and identifying and satisfying their wants and needs first; as long as firms profit..

The marketing concept

In the equation R = Bz, where "R" stands for the reproduction rate of posts, what does "z" stand for? Number of people who are initially exposed to a message Number of clicks of a message The message's likelihood of being shared The messages probability to succeed None of the above

The message's likelihood of being shared (correct)

Every firm must make its plans and execute its decisions in light of what is happening in its micro- and macro-environment. You already knew this. You should also know that:

The micro-environment exists inside the firm, the macro-environment exists outside the firm.

Brands must be positioned in the most important place:

The minds of targeted customers or prospects.

The phrase "replacement rate" is a measure that indicates:

The number of babies each woman needs to birth to replace a county's population.

Which of the following is not something a mission statement should ideally describe?

The organizations greatest weaknesses

Consumers are typically not motivated by brands or marketing firms themselves but rather by ____.

The people associated with a brand

Australia's effort to closely associate its national brand with sharks illustrates ...

The power of branding.

Beyond the traditional elements, other parts of the promotional mix include product design, prices, features, colors, packaging, or even the retailer brands (high-end or low-end) that primarily market the brands. The preceding statement is completely true and accurate. The preceding statement is only partly true and accurate.

The preceding statement is completely true and accurate. (correct)

Which analysis (or test) provides insights about how changes in pricing strategies will impact demand for individual brands or branded product lines

The price elasticity test

According to leading experts, the second most important innovation in history (the wheel remains most important) is: Sanitation Nuclear power The Internet The printing press The harnessing of water and wind power

The printing press (correct)

___________ was history's second most important innovation after the wheel. The axel Steel The discovery of viruses Agriculture The printing press

The printing press (correct)

Routine and extensive consumer decision-making models each begin with

The problem recognition stage

This test is conducted to determine whether the prototypical product, as it will be developed, will actually satisfy the customer's want or need (solve the problem) that it was intended to satisfy (solve). This test is called:

The product use test

Which word or phrase is not one of the three main motives for consumers (as referenced in your book)?

The pursuit of pain

What is market share?

The ratio between the firm's sales volume and the entire industry sales volume

What is market share?

The ratio between the firm's sales volume and the entire industry sales volume (correct)

All serious strategists should quickly realize that they must successfully manage two types of risk:

The risks of sinking the boat or missing the boat.

All serious strategists should quickly realize that they must successfully manage two types of risk:

The risks of sinking the boat or missing the boat. (correct)

If citizen consumers slip up for whatever reason, often for reasons not of their own making, some advanced democracies offer several programs to help citizens get back up. These programs, as a whole, are usually known as:

The safety net

When firms use market penetration growth strategies they seek to serve:

The same market segment they have been pursuing with the same product while changing other elements of marketing mix

The best branding stories are those that are appropriate for _________________________.

The segments being targeted

What does the statement "the best solution to any problem is always the most parsimonious one" actually mean?

The simplest solution is almost always the best

What does the statement "the best solution to any problem is always the most parsimonious one" actually mean?

The simplest solution is almost always the best.

Occam's Razor suggests the best solution to any pressing problem, when planners are analyzing and drawing inferences from data, is always

The simplest solution that accounts for all data.

Strategic Business Units (SBUs)

The smallest business unit within any firm for which independent planning can be done and independent resources exist. GE, then called General Electric, pioneered the SBU concept.

The baud is used to measure:

The speed at which information travels along the internet. (correct)

The broadest definition of price is: The amount of money charged for a product or service. The sum of all values that customers must give up to obtain the benefits associated with a product or service. The amount of value customers are willing to pay to obtain the benefits associated with a product or service. The amount of money expected or required to be paid to obtain the benefits associated with a product or service. None of these responses represent the broadest definition offered in this module

The sum of all values that customers must give up to obtain the benefits associated with a product or service. (correct)

The reason why customers who already own or use many different Apple products would experience difficultly to choosing a new Samsung smartphone, even if Samsung developed an innovation that was objectively superior to Apple's existing product, is because: Apple users would not perceive the situation objectively. Apple customers are known to hate change. The switching costs related to leaving the Apple product behind would be deemed "too high." Apple customers are so loyal that changing would emotionally damage them. None of the above are correct.

The switching costs related to leaving the Apple product behind would be deemed "too high." (correct)

Brand personalities are generally reflected in:

The type of consumer personality trait that the brand represents.

In statistical assessments, the measurement known as the median is the:

The value that sets right in the middle in any list of values

Which of the following statements that describe conditions does not describe an advantage associated with mass marketing?

The wants and needs of individual customers can be more directly targeted.

Which of the following states (conditions) does not describe an advantage associated with mass marketing?

The wants and needs of individual customers can be more directly targeted.

Which trait or characteristic is most important for effective strategic planners?

The willingness to incorporate balance into one's planning processes or mindset

American singer Lady Gaga wore an infamous dress made of raw meat at the 2010 MTV music awards. Her decision to wear this particularly odd type of dress best epitomizes which key precursor to marketing success.

The willingness to stand out rather than fit in.

The willingness to stand out rather than fit in. (correct)

If politicians are marketers, what are they selling?

Their own ideas' value

Which of the following statements are not associated with (or characterize) services?

Their quality

According to Sun Tzu, what are the three sorts of insights should Generals possess?

Themselves, their enemy and their terrain

Who said that "knowing what is right doesn't mean much unless we do what is right"?

Theodore Roosevelt

What do cosmetics marketers market?

They do not market anything. They only sell cosmetics They only market cosmetics They market beauty through cosmetics (correct) They market cosmetics through beauty None of the above

What do cosmetics marketers market?

They market beauty through cosmetics

Australia has the _______________ lowest population density in the world.

Third

According to this book, "First-in-the-Mind" is the:

Third marketing law

According to this book, "First-in-the-Mind" is the:

Third marketing law (correct)

The primary value of statistical analyses is that the process itself permits often massive amounts of information (raw data) to be compressed into a few meaningful numbers.

This statement is true

Is the following environmental threat or opportunity to U.S. funeral home marketers? The cultural and social trend that clearly suggests cremation is becoming more acceptable to families.

Threat

Is the following environmental threat or opportunity to U.S. funeral home marketers? The cultural and social trend that clearly suggests cremation is becoming more acceptable to families.

Threat (correct)

As illustrated in your book, how many stages make up the product life cycle concept?

Three Four (correct) Six Seven

The evoked set usually features no more than three to five brands. Then, when problems arise from which known brands from a known product category can resolve, this set of brands come to mind.

Three to five is about right

When planning, strategists should remember that only three ways to differentiate anything exist. Which of the following statements is not one of the three core pathways to differentiation?

Through managing perceived branding values.

When planning, strategists should remember that only three ways to differentiate anything exist. Which of the following statements is not one of the three core pathways to differentiation?

Through managing perceived branding values. (correct)

Marketing planning entails decisions made about how best to allocate the 3Ts. What are the 3Ts?

Time, Talent, Treasure

The "3Ts" of planning are:

Time, Treasure and Talent

What is the core purpose of all marketing processes?

To create exchange relationships with customers

Which of the following is not a typical communication outcome?

To create increases in short-term sales

What is/are the best reasons to conduct marketing research?

To describe or diagnose marketing problems or opportunities (threat) more accurately. To develop effective prescriptive inferences regarding how firm should strategically address problems or opportunities through thoughtful, informed management of its marketing mix. To develop marketing strategies intended to achieve highest possible market shares. A and B All of the above

Based on the three baselines for marketing success provided in this Module, which of the following strategies would likely prove more successful?

To find or create and focus on an attribute that is most important for a particular group of consumers, and is also different in a positive way from attributes that competitors offer

What is the best reason for marketers to study consumer behavior?

To help consumers solve their problems

Why would marketers "under-promise and over-deliver"?

To increase customer satisfaction by lowering expectations (correct)

Successful strategic processes often require planners to look backward toward the past. Why is this important?

To provide marketing professionals with contemplative looks into what processes were successful and those process that were not successful in order to guide future decisions

Successful strategic processes often require planners to look backward toward the past. Why is this important?

To provide marketing professionals with contemplative looks into what processes were successful and those process that were not successful in order to guide future decisions.

Why would supply chain partners benefit from trying to avoid winning-too-big? To eliminate excessive competition between partners To reduce the amount of conflict within the relationship To allow both partners to feel they are winning To make the relationship feel right To ensure slower but steadier growth in their share prices and market yields

To reduce the amount of conflict within the relationship (correct)

The Pareto Principle suggests that marketers should target their marketing mix efforts and resources toward the:

Top 20% of heaviest product users.

Danica Patrick has garnered commercial success not by being the first female racecar driver, but by being the first female driver that most people think of. This is an example of which marketing principle?

Top of mind awareness

What famous company's branding symbol is meant to epitomize three beating hearts?

Toyota

________________ are price reductions given to buyers in exchange for turning-in old items as new items are purchased.

Trade-in allowances

The term _______________ describes price reductions given to buyers in exchange for turning-in old products as newer versions of the same product is purchased. Price adjustments Trade-in allowances Promotional allowances Discounts Spiffs, also known as "push money"

Trade-in allowances (correct)

When using marketing to create and sustain personal or organizational success, which skillset is most important to master and use?

Traditional and innovative marketing processes and practices (correct)

Each addresses motivation theories about consumer behavior

True

Every element of the marketing mix (i.e., product, price, promotion, or place) can be used to position a brand.

True

Heterogeneous—in marketing, the word means (markets that) consist of dissimilar or diverse constituents.

True

Marketers should get excited when they hear or read: "The data says/suggest." Data is important to marketers because it allows them to make contemporary predictions about future events.

True

One of the best ways to understand needs is as states or conditions of felt or perceived deprivation.

True

One primary reason why marketing researchers investigate the personalities of consumers is to create opportunities to match the personalities of their brands with the dominant personality traits of consumers.

True

Positioning can capture either the way a branded product is defined by consumers on important attributes or the place a brand occupies inside consumers' minds

True

The developers of social media and video games services/produce often intentionally design them to create addictive behaviors among users.

True

The first rule of storytelling is "Make me care":

True

Marketers often benefit from lowering customers' expectations. The reason why is because those expectations then become easier to exceed; resulting in greater likelihood of customer satisfaction or delight. The preceding two statements are:

True, true

According to this Module, consumers should avoid _______________________ when it comes to past pricing decisions. Overspending Buying expensive drinks Trusting themselves Other consumer's opinions None of the above

Trusting themselves (correct)

Sales promotions are usually used by marketers to incentivize (motivate) customers to make a purchase during the next .

Two or three days

When __________ exists, not only is what might happen unclear; the probabilities of these unknown things happening are not known, either. Two sets of unknown-unknowns are in play.

Uncertainty

When __________ exists, not only is what might happen unclear; the probabilities of these unknown things happening are not known, either. Two sets of unknown-unknowns are in play.

Uncertainty (correct)

The excessive use of sales promotions by many different firms competing inside the same market sector usually ___________ customers' loyalty to any particular brand. Maintains/sustains Increases Undermines Organizes None of the above

Undermines (correct)

Which of the following statements about strategy is true?

Understand how planning requires preparation but that planning creates preparation Move quickly but with patience Almost remember and honor the importance of relationships

When marketing organizations' resources (the 3Ts) are scarce "_______ targeting" approaches usually represent the best option.

Undifferentiated

When targeting, if marketers market as if no segments exist, they are engaging in:

Undifferentiated (mass) marketing

Which targeting approach works best for products or brands that have entered the mature stages of their product life cycles?

Undifferentiated (mass) marketing

A market segmentation study of the dairy industry identified a number of different market segments for whole milk. However, the ability to reach these different segments with differentiated marketing programs (i.e., different marketing mixes) is highly questionable. These conditions suggest the marketer should employ a(n) ____________ market targeting strategy

Undifferentiated strategy

Four basic levels of targeting exist. What are they?

Undifferentiated, concentrated, micro-targeting, differentiated

Which answer is wrong (i.e., does not fit)? The best NP ideas, the ones that do the best job of solving complicated customer problems, are typically:

Unexpectedly brilliant

What entity should be developed for each segment that marketers pursue?

Unique and uniquely desirable marketing mix

The best brand stories are _____________________________.

Unique in nature.

---------- are products/brands that few to no customers look for on their own. The implication is that some marketer truly must sell them. Life insurance, gym memberships, burial plots ... these sorts of products illustrate the point.

Unsought goods

The Toyota brand of automobiles is a good example of:

Unsought goods Shopping goods (correct) Convenience goods Specialty goods Luxury goods

But does everyone perceive the same values in the same way?

Unsurprisingly, the answer is no. This is the primary reason why marketers engage in market segmentation and target marketing (targeting). Marketers engage, first, in segmentation and thereafter in targeting in order to deliver specifically-designed marketing mixes that are customized to satisfy the needs of select customers.

Supply chains consist of _______________ and _______________ business partners.

Upstream firms; downstream

The 80-20 principle and the concept of the "heavy half" are most closely associated with the _________________ method of segmenting and positioning to target markets.

Usage rate

For new products to be considered innovations, the products must be ____.

Useful

What one word best describes and summarizes the key difference between invention and innovation?

Usefulness

What one word best describes and summarizes the key difference between invention and innovation? Usefulness Uniqueness Function Form Value-adding (which should be treated as one word)

Usefulness (correct)

When the subject turns toward innovations and not just regular innovations but, big impactful innovations, one thing: Usually leads to another. Usually DOES NOT lead to another.

Usually leads to another. (correct)

The ___________ theory argues that the right thing to do (the most ethical decision) is the choice that generates the highest overall happiness Utilitarian Deontology Enlightened self-interests All of the above None of the above

Utilitarian (correct)

Jeremy Bentham (1747-1842) wrote, ''The right (ethical) thing to do is that which maximizes utility." Stated differently, inside marketing settings the right thing to do is the choice that generates the highest overall happiness. These two statements illustrate:

Utilitarian principles

Jeremy Bentham is the father of which theory of ethics? Relativism Deontology Enlightened self-interest Utilitarianism None of the above

Utilitarianism (correct)

Which ethical philosophy is based on the idea that the right thing to do is the choice that generates the highest overall happiness? Relativism Deontology Utilitarianism Enlightened self-interest

Utilitarianism (correct)

Information that is _______ measures exactly what is purported to be measured.

Valid

When communicating with customers, marketers usually should emphasize the aspects of their brands that are more: Profitable for their firms (marketing organizations themselves). Memorable to most of their customers. Credible for most of their customers. Valuable for the brand being promoted. Valuable for most of their customers.

Valuable for most of their customers. (correct)

An exchange, defined, involves a "get and a given." What is typically "gotten and given" during exchange processes?

Value

Exchange is defined as "get and a given." What is actually "gotten and given" during the exchange process?

Value

To survive inside competitive environments organizations must provide targeted customers with greater ___________ than those customers receive from competitors.

Value

Anything that can be offered to individuals, market segments, or entire markets for customers' attention, acquisition, use, or consumption that might also satisfy their (i.e., individuals', segments', or markets') wants/needs-or solve their problems is best described as a:

Value Solution Marketing mix Product (correct) Benefit

Exchange is defined as "get and a given." What is actually "gotten and given" during the exchange process?

Value (correct)

The concept known as a _____ captures both the potential and actual values that marketers offer to their customers through any one product and service.

Value proposition

The ---------- ofany brand represents the sum total of all perceived or actual values associated with or delivered by the brand. The value summary The position The brand equity Value proposition None of the above

Value proposition (correct)

_________ can be defined simply as the grand total of any brand's problem-solving capacity.

Value propositions

_________ can be defined simply as the grand total of any brand's problem-solving capacity.

Value propositions (correct)

Which statements are true about the natural relationship between value and prices?

Value should drive prices.

---------- based pricing uses customers' perceptions of value, rather than marketers' costs, to establish prices. When using ----------• marketers establish desired price levels before other marketing mix program ingredients (product, promotion, distribution, and placement) are considered, developed, and managed.

Value-based

In which pricing strategy should price levels be established before the entire marketing mix program is developed. Cost based pricing Value-based pricing Competition based pricing Market-based pricing Macro-based pricing

Value-based pricing (correct)

______________ strategies use customers' perceptions of value, not marketers' costs, to establish prices for products and services. Cost-based pricing Cost-plus pricing Everyday low pricing Value-based pricing Prestige pricing

Value-based pricing (correct)

Occasion-based segmentation often works effectively because the tactic permits marketers to use their insights about the reasons why consumers purchased brands to adjust their ________________________.

Value-proposition

In statistical analysis, which of the following measurements represents the range of a sample of responses?

Variance

---------- entails and measures the degree to which one marketing partner, or firm, owns/controls upstream toward "sourcing-from-the-dirt" suppliers or control/own downstream shippers, other intermediaries such as warehouses, or retailers toward end-use B2B customers or B2C consumers.

Vertical integration

Which basic supply chain design is in place when one large/powerful organization controls or owns other firms in the supply chain system? Conventional marketing system Longer supply chain Horizontal marketing system Vertical marketing system Broader supply chain

Vertical marketing system (correct)

Whenever managers are highly motivated by the desire to control how supply chain functions are performed, they should develop --------·

Vertical marketing systems

____________ are supply chains where one 800-pound-gorilla organization (< a metaphor) controls or owns other firms in the supply chain system.

Vertical marketing systems

Whenever managers are highly motivated by the desire to control how supply chain functions are performed, they should develop --------· Horizontal marketing systems Vertical marketing systems Hybrid marketing systems All of the above None of the above

Vertical marketing systems (correct)

---------- entails conspicuous expressions or demonstrations of one's moral values or social superiority. The wealthy might signal their charity; the religious their piety; the environmentally-conscious their green bona fides. Marketers routinely exploit consumers' propensity to engage in---------- .

Virtue-signaling

The attempts of marketing organizations to engage in ____________________ often work like an insurance policy that organizations can use, if necessary, to fend off attacks from social networking "mobs." Social-signaling Quality-signaling Value-signaling Public relations-messaging Virtue-signaling

Virtue-signaling (correct)

Which factor, if present, will most likely "give legs"- contagion-like effects - to marketing messages and stories? E-communication The internet WOM or eWOM The reliability and trustworthiness of messages The "sexiness" (literally) of messages; because sex always sells

WOM or eWOM (correct)

Which product would prove most appropriate for an age-based segmentation approach?

Walking canes

Culture is the most basic cause of consumers':

Wants and behaviors

The moral compasses of ordinary human beings are established _____________________ they enter college.

Well before

The moral compasses of ordinary human beings are established _____________________ they enter college. After About the same time Well before A long time after

Well before (correct)

Focus groups are used as marketing research methods that focus on

What 8-10 individual customers have to say or think about particular issues or problems

Focus groups are used as marketing research methods that focus on:

What 8-10 individual customers have to say or think about particular issues or problems

Which of the following statements best describes what a competitive advantage is?

When an organization possesses a differential value versus its competitors with respect to a key success factor or core competency

What conditions must exist in order for customers to be satisfied with marketers and their products?

When customers' expectations are met

Automation bias arises inside marketing research settings

When the computers they use lull experts into a false sense of security.

Automation bias arises inside marketing research settings:

When the computers they use lull experts into a false sense of security.

Which statement best summarizes what happens when uncertainty prevails?

When uncertainty prevails, planners don't know all the possible outcomes nor do they know the probabilities of those unknown outcomes arising

Which statement best summarizes what happens when uncertainty prevails?

When uncertainty prevails, planners don't know all the possible outcomes nor do they know the probabilities of those unknown outcomes arising.

Which statement best summarizes what happens when uncertainty prevails?

When uncertainty prevails, planners don't know all the possible outcomes nor do they know the probabilities of those unknown outcomes arising. (correct)

Marketing research generally seeks to determine

Which marketing mix a company should employ? How markets should be segmented? Which segments should be segmented? All of the above

The discussion involving male peacocks and their gaudy tails was used to illustrate:

Why consumers often display their "worth" through purchasing positional goods. Why consumers often display their "worth" through specialty goods and luxury brands. Both answers a and b are correct. (correct)

Who developed the question: Is the world too small for anything but the truth?

William Sloan Coffin

Who shared valuable insight about conflict within important relationships by writing "There is only one thing worse than fighting with allies, and that is fighting without them"? Donald Trump Winston Churchill Napoleon Dwight Eisenhower Barrack Obama

Winston Churchill (correct)

What current cultural buzzword indicates that consumers are alert and tuned into perceived or actual social injustices?

Woke

What communication activity did the book describe as either marketers' best friend or their worst enemy

Word of Mouth

The way that supply chains operate illustrates the fact that, similar to people, organizations usually need to work ________________________ before they can reasonably expect to succeed. Collaboratively compete Play in the dirt Work collaboratively Protect their investments Generate returns on their investments

Work collaboratively (correct)

Is marketing success really so simple to achieve that the firm or brand that tells the best story usually win?

Yes it is

Careful planning is important, But can marketers over-plan?

Yes, over-analysis has led to paralysis

Careful planning is important. But can marketers over-plan?

Yes, over-analysis has led to paralysis

According to experts, what three factors contribute most to the likelihood that you will succeed professionally? Your tenacity, grit, determination. Your IQ, birth family, and self-control. Your creativity, bank account, and friends (i.e., show me your friends and I will show you your future). Your major, degree, and the quality of your first job.

Your IQ, birth family, and self-control. (correct)

Knowing your terrain, which exists as one key to marketing success (or victory), entails knowing:

Your external environment and the opportunities/threats residing therein

________ information is free of systematic error.

ceteris paribus

a Latin phrase and economic concept that means "other things equal," "all other things being equal," or "other things held constant," or "all else unchanged." Sounds exactly how the world does not work, right? Yet the concept of ceteris paribus is important to any researcher seeking to experimentally investigate relationships between two or more stimuli. Because then, all other possible casual factors must be held constant.

products entail...

anything that individual marketers or marketing corporations can offer to consumers (B2C) or organizations (B2B), to segments or to entire markets... for their attention, acquisition, use, or consumption... that might also satisfy their (i.e., those individuals' or organizations', segments', or entire markets') wants/needs or solve their problems.

Which consumer trait exercises the most enduring influence on consumers' decision-making and behaviors? Their:

attitudes

balance

balance, as in pursuing desired goals that assign equal weight to what an organization can become with what is realistic for the organization to be. Balance, as reflected in the unrelenting need to balance long-term goals with short-term demands or combining the logical pursuit of profitability with the logical need to be socially responsible (in order to develop/preserve a desirable brand identity).

what deciders deciding/not deciding to support inside their minds is an idea - and a product

facts worth nothing, and nailing down professional brands, right now: First, whatever is a product can be branded. Second, whatever is branded can be differentiated. Third, whatever has been differentiated is positioned. Note, as well, the prior use of three well-branded US cities as places and products by discussing well-known differentiating-branding-descriptions associated with each.

value of a good crisis

great planning personas clearly understand the potential benefits embedded inside good crises. "a crisis is a terrible thing to waste." crises are great opportunities not just to plan to change, but to actually initiate change.

The four steps that unfold inside every consumer decision making process are the following:i. Decision-makers perceive, attempting to make sense of situations.ii. Decision-makers decide which action to pursue.iii. Deciders deliberate possible courses of action that are available in these situationiv. Deciders calculate which choice, from a menu of possible actions, best serves their interest by solving their problemsWhich of the following is the correct order of these steps?

i, iii, iv, ii

Goals and objectives should always be consistent (or compatible) with the ------

marketing firm's mission

the Chinese use two intersecting brushstrokes to denote the word crisis.

one stroke represents danger. the other stroke represents opportunity

Which of the following entities can be branded?

people Product Places Services All of the above

people, as human brands and products, could entail politicians, celebrities, or business professionals

readers have either sought or should seek to strategically develop their professional brand; that is, if they already are or want to become and remain successful

strategy, marketing or military

successful strategy entails (1) getting more (value) from a situation than the original balance of power between the assortment of competitors or enemies competing there would have suggested was possible; (2) the art and science of creating and executing power - for purposes of benefitting one's organization, customers, investors, or even oneself; and/or (3) leading or managing change.

Occam's Razor

suggests the best solution to pressing problems, when planners are analyzing and drawing inferences from data, is the simplest explanation that accounts for all the data. The Razor further indicates that strategic problem-solvers/decision-makers should understand that, ceteris paribus, the simplest explanation, process, or solution is always the best. Strategic planning almost always entails developing solutions related to pressing problems or opportunities.

the people or organizations that constitute market segments share certain key characteristics in common.

the fact that these shared characteristics exist means consumers or organizational constituents that comprise targeted market segments will response similarly (generally positive or generally negative) to values created and delivered through particular marketing mixes.

strategists should also...

think like people of action but act like people of thought

Brand equity and brand loyalty, when present, generally allow marketers to raise prices without losing much if any market share.

true

Brands are not just symbols, they are also psychological constructs.

true

Brands, regardless of their dominant form (colors, designs, signs, names), exist as symbols.

true

Risk versus uncertainty

when risk exists, reasonable assessments of the probability that certain known events will happen/arise are also present. In risky strategic situations, the entire set of likely outcomes is also known. What remains unknown is the probabilities of those outcomes. Not pleasant, but manageable. When uncertainty exists, not only is what might happen unclear; the probabilities of these unknown things happening are not known, either. Two sets of unknown-unknowns are in play. Scary; dangerous; planning and action were likely be shut down.

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