mktg midterm 1
A quota sample differs from a stratified sample, as in a quota sample, researchers select subsamples by some random process.
F
A stratified sample is a type of nonprobability sample.
F
Dayer's, a popular ice cream brand, added new flavors to its existing line of ice creams to attract kids. This is an example of _____.
line extension
The looking-glass self is defined as:
the way an individual thinks others see him or her.
A national brand defines the image most people form when they think of a brand.
T
A positioning map provides a valuable tool to help managers position products by graphically illustrating consumers' perceptions of competing products within an industry.
T
A trademark is different from a trade name, which is usually used to identify a company.. Group of answer choices
T
According to the BCG matrix, if a question mark cannot become a star, the firm should pull out of the market and target other markets with greater potential.
T
Adjustments in the mission statement of an organization reflect changing business environments and management philosophies.
T
All planning strategies have the goal of creating a sustainable competitive advantage for a firm which other companies cannot imitate.
T
Businesses may need to adjust their data collection methods for primary research in foreign countries since some methods do not easily transfer across national borders.
T
Colleges and universities, and other not-for-profit institutions play major roles in the development of new technology.
T
Competition in the market usually forces firms to adopt a differentiated marketing strategy.
T
Consumer behavior refers to the process through which ultimate buyers make their purchase decisions.
T
Each SBU pursues its own distinct mission and often develops its own plans independently.
T
Electronic commerce and computer technologies have created unprecedented opportunities in business today.
T
Environmental scanning is the process of collecting external data, analyzing it, and determining whether the trends identified are opportunities or threats to the company.
T
Generation X is very family-oriented, well educated, and optimistic.
T
Good relationships with customers can equip a firm with vital strategic weapons.
T
Improved product quality and superlative customer service can help a company gain a competitive advantage in the marketplace.
T
Information technologies give organizations fast new ways to interact and develop long-term relationships with their customers and suppliers.
T
Interactive promotions put customers in control because they can gain immediate access to key product information when they want it.
T
Micromarketing may cause a company to lose sight of other, larger markets.
T
Observation alone cannot supply all the necessary information as it is difficult to get exact demographic information from observation.
T
One way the Federal Trade Commission can enforce laws is by issuing a consent order in which a firm accused of violations can agree to voluntary compliance without admitting guilt.
T
Perception is the meaning a person attributes to incoming stimuli gathered through the senses of hearing, taste, smell, touch, and sight.
T
Primary metropolitan statistical areas (PMSAs) are identified within areas of 1-million-plus populations.
T
Product positioning refers to consumers' perceptions of a product's attributes, uses, quality, and advantages and disadvantages relative to competing brands.
T
Sampling is the process of selecting survey respondents or research participants.
T
Sentencing guidelines act as an incentive for corporations to implement effective ethics compliance programs—if they are hauled into court, the existence of such a program can help reduce penalties.
T
A customer-driven organization begins its marketing strategy with a detailed description of its target market.
F
A micropolitan statistical area will have at least one urbanized area of 50,000 or more inhabitants.
F
The growth of wireless technology has given rise to a new marketing strategy called _____.
mobile marketing
A company that chooses to focus its efforts on satisfying only one market segment for profit is using a(n) _____ strategy.
niche marketing
The American Cancer Society in the private sector and The Department of Natural Resources in the public sector are examples of _____.
not for profit organizations
_____ is a customized marketing program designed to build long-term relationships with individual customers.
one to one marketing
Many not-for-profits utilize _____ in order to influence people to accept their goals or contribute in some way.
org marketing
For-profit organizations and not-for-profit organizations often form _____.
strategic alliances
A pharmaceutical company that owns a patent for a new drug obtains exclusive rights to produce and market that drug for an entire lifetime.
F
Which of the following is true of a strategic business unit?
A strategic unit has its own managers, resources, objectives, and competitors.
If 'B' represents consumer behavior, 'I' represents interpersonal influences, 'P' represents personal influences, and 'E' represents pressures exerted by outside environmental forces, Kurt Lewin's statement, rewritten to apply to consumer behavior, states that:
B = f (I,P).
Which of the following best represents a mission statement?
Bass Pro Shop: To be the leading merchant of outdoor recreational products, inspiring people to love, enjoy, and conserve the great outdoors
Which of the following is a type of nonprobability sample?
Convenience sample
Socioeconomic market segmentation is another name for _____ segmentation.
Demographic
Whether conducted online or through the mail, what is the most important aspect of a marketing research survey?
Designing one that yields information marketers can use to make decisions.
Which of the following components of the marketing environment consists of factors that influence consumer buying power and marketing strategies?
Economic environment
Antrix Corporation is a marketing research firm that specializes in data collection in shopping malls. This information indicates that Antrix Corporation is a full-service research supplier.
F
Branches of the U.S. military sometimes show recruitment advertisements in cinemas featuring movies that are most likely to attract viewers of military age. This is an example of place marketing.
F
Companies that offer mass-marketed goods and services are more likely to achieve monopoly position with their customers compared to those companies that manufacture luxury products.
F
Despite its many advantages, technology can seldom address social concerns.
F
Division of the total market into smaller, relatively homogeneous groups is known as market optimization.
F
Due to its low cost, the controlled experiment is the most commonly used method of collecting primary data for marketing research.
F
Groups do not intentionally create formal roles, nor do they ever have expectations that roles and statuses will develop within their membership.
F
Managers of firms have traditionally focused on improving their relationship with the government and the general public as part of their social responsibility.
F
Matching an external opportunity with an internal weakness produces a situation known as leverage.
F
Relationship-building goals and strategies are seldom included in the plans of business firms.
F
Six firms - GM, Ford, Chrysler, Toyota, Honda, and Nissan - share 90 percent of all U.S. auto sales. Hence the U.S. auto market can be regarded as a monopoly.
F
Strategic planning has a minimal impact on a firm's destiny because it provides only short-term direction to the decision makers.
F
Supervisory managers tend to focus exclusively on strategic planning.
F
The ability to download Microsoft and IBM software products directly from the Internet is a part of each firm's pricing strategy.
F
The buying behaviors exhibited by members of the different classes are homogeneous and exclusive.
F
The cost of finding new customers is far less than the cost of maintaining existing ones.
F
The firm that provides regional expertise in a strategic alliance does not share the risks associated with the business.
F
The first stage in the market segmentation process, after identifying promising segments, is to produce a forecast of market potential within each segment.
F
The interviews conducted during exploratory research with informed people outside the firm are termed as formal investigations.
F
The limitation of a strategic alliance is that it eliminates competitive advantage.
F
The marketing era is the successive historical outcome of the production era.
F
The most direct form of competition occurs among marketers of dissimilar products.
F
Which of the following is NOT a non-profit organization?
Golden State Warriors - an NBA franchise
Which of the following usually indicates a strong economy?
Growth in services such as banking and restaurants
Which of the following changes is seen as a result of a rise in households with only one person?
Increase in single-serve food products
Which of the following is a critical issue facing governmental agencies regarding ethics in marketing research?
Invasion of personal privacy
Which of the following statements is true regarding online surveys?
It allows participants to respond at their leisure.
Which of the following is true of relationship marketing?
It believes in maintaining existing customers.
In addition to the four forces of the Five Forces Model, which of the following influences rivalry among competitors?
Lack of differentiation between products
Majority of the Hispanic population in the United States originate from _____.
Mexico
A brand name should give buyers the correct connotation of the product's image.
T
Be Wise is an insurance firm that helps people save money for retirement and health purposes. It markets its health and life insurance products with a tag line "save for future." Be Wise is trying to address which of the following needs in the Maslow's hierarchy of needs?
Safety needs
When you first learn that your firm's new Chief Marketing Officer has announced a major push to collaborate with international suppliers, you are confused. In your last job, suppliers were viewed as adversaries who were always increasing their prices and driving up the company's costs. But in a podcast distributed to all employees, you feel the CMO effectively explains this move as part of a broader relationship marketing strategy. Which point(s) does she make?
She plans to use strategic alliances with suppliers to create competitive advantages.
A frequent-flyer program usually announced by airlines is a form of purchasing reinforcement.
T
A marketing information system (MIS) is a part of a firm's overall management information system that deals specifically with marketing data and issues.
T
A marketing research firm can provide technical assistance and expertise not available within the contracting firm.
T
Which of the following is a low-involvement product?
Stationery
What are the subfunctions of physical distribution?
Storing and transporting
"For the same dollars that you spend on a no-frills ticket to Los Angeles, fly Business Class with us!" is the advertising statement issued by FlyHigh Airlines. It represents an attempt by FlyHigh Airlines to position itself with respect to its competitors.
T
The Sherman Antitrust Act, Clayton Act, and Federal Trade Commission Act are evidence of federal commitment to maintaining a competitive business environment in the United States.
T
The basic consumer rights expounded by President Kennedy include "the right to be safe," referring to the idea that the goods and services people buy should not be injurious in normal use.
T
The degree of external search increases as purchasing behavior moves from routine to limited to extended problem solving.
T
The private sector has an even greater array of not-for-profit organizations than the public sector.
T
The statement of Starbucks to "inspire and nurture the human spirit - one person, one cup and one neighborhood at a time" is an example of a mission statement.
T
Tide laundry detergent commands an extremely high market share. Purchasers of the product are extremely less sensitive to price changes. Based on this assessment, it can be said that Tide has high brand equity. Group of answer choices
T
Well-known luxury retailers offer unique or prestigious products at price ranges slightly lower than their premium brands to attract middle-class consumers aspiring to the upper class.
T
McBurgers plans to introduce a new line of fish sandwiches to fifteen stores in eastern United States for a six-month period. If the product and promotional efforts behind it are successful, the company may launch them nationwide. What type of research is being conducted to determine potential success?
Test marketing
_____ is a marketing research technique that involves introducing a new product in a specific area and then measuring its degree of success.
Test marketing
To remain competitive, marketers must accurately gauge their customers and adapt to changing consumer sentiment. Sometimes this adaptation calls for repositioning a product or service. Why might a product or service be repositioned?
The company is aiming for a greater share of the current market.
Which of the following statements concerning the global marketplace is true?
The global marketplace is growing because of trade agreements.
An automobile manufacturer is dependent on a single supplier for tires. Based on this information, which of the following statements is true?
The supplier has significant bargaining power.
A shoe manufacturer has multiple suppliers for leather. Based on this information, which of the following statements is true?
The suppliers have lesser bargaining than the buyer.
The basic elements of a marketing strategy consist of ____________.
The target market and the marketing mix
Brand Associations consist of:
Visuals, Taglines, Mascots, Logos, People, etc. that represent a brand
Entertainment Research Group specializes in rating movie theaters using input from moviegoers. Entertainment Research Group is an example of a:
limited-service research supplier.
A leading e-Learning company is expanding its operations in Japan. To ensure smooth communication between branches, it needs a communication technology which provides facilities such as call plans, call waiting, and three way calling. Additionally it would like to keep costs low. Which technology should it adopt?
VoIP
Which of the following is the earliest method used for gathering marketing information?
Written testimonials received from purchasers of a firm's products
A brand is much more than just a logo. Instead it is a(n)
almagam of everything the brand is, say's, and does.
Atari, a consumer electronics and video games company, observed the innovations of Nintendo Co., the most powerful video game company at that time, and destroyed the market share of Nintendo eventually. This implies that Atari:
applied a second-mover strategy.
A characteristic of a good brand name is that it should:
be easy to recognize and remember.
The _____ component of attitude specifically involves tendencies to act in a certain manner.
behavioral
In Maslow's hierarchy of needs, _____ needs refer to the desire of a person to be accepted by people and groups important to that individual.
belongingness
When people see Coca Cola on the shelves of their local supermarkets, they remember fond childhood memories of drinking Coke and fun Christmas commercials with polar bears and Santa Claus. Though other cola beverages may win blind taste tests over Coca Cola, consumers tend to have an emotional relationship with Coke, which gives the product a competitive edge on the market. Which of the following aspects of a product is described here?
brand
The strategy of attaching a popular brand name to a new product in an unrelated product category is known as _____.
brand extension
A _____ is a symbol or a pictorial design that distinguishes a product from its competitors' offerings.
brand mark
A(n) _____ occurs when there are more sellers (or products) than buyers.
buyer's market
Interactive marketing refers to:
buyer-seller communications in which the customer controls the amount and type of information received from a marketer.
"Word-of-mouth" advertising that has grown in effectiveness with the advent of the Internet is called _____.
buzz marketing
The single group within society that is most vulnerable to reference group influence is:
children, who base most of their buying decisions on outside influences.
A sampling method that involves first selecting a sample of subgroups from the population and then drawing a sample from each group so that the final sample represents the diversity of the population is called a _______ sample.
cluster
Maya is in the purchase process for a new car and is considering a Hyundai Sonata and believes their Assurance or warranty program is the best available since it offers 10-years or 100,000 miles of coverage including a 5-year 24X7 roadside assistance plan. Maya's belief about Hyundai represents the _______ component of her attitude.
cognitive
Kyle plans to buy new tires for a car that his family uses for camping trips. These tires are of the same type like those that are used on General Motors commercial trucks and can be purchased from Industrial Tire Company. The tires that Kyle will buy for his car can be classified as _____ products.
consumer
The term "product positioning" refers to:
consumers' perceptions of a product's attributes, uses, quality, as well as advantages and disadvantages relative to competing brands.
Bobby Flay is a popular celebrity chef who is famous for his use of the grill to create his signature dishes. Recently, Bobby Flay debuted a line of grilling accessories and believes these products will be successful because he has a loyal following among men aged 30 to 60. What type of segmentation is utilized for this new line of grilling accessories?
demographic
The Telecommunications Act of 1996 was passed to:
deregulate the telecommunication industry by removing barriers to competition.
Marketers applying a positioning strategy want to:
emphasize a product's unique advantages and differentiate it from competitors' options.
A company that manufactures frozen food items is employing the shaping process to get consumers to try its products. The free samples offered by the company along with discount coupons have been received well by the consumers. The next step in the shaping process is to:
entice the customers to buy the product at low prices with little financial risk.
The moral standards of behavior expected by a society are known as _____.
ethics
In interpretative research, the researcher first spends an extensive amount of time studying the culture, and for that reason, the studies often are called _____ studies.
ethnographic
The concert of a French rock band was promoted by a certain firm in the United States. This is an example of _____.
event marketing
The Tour de Cure is a bicycle ride, not a race, to raise money for the American Diabetes Association and is held in 40 states nationwide. This is an example of:
event marketing.
The _____ occurs when two or more parties exchange something of value.
exchange process
You want to encourage your longtime customers to continue their relationship with the service your company provides, and so you implement an approach commonly used to segment a market by brand loyalty. What approach did you use?
frequent purchase program
"The Millennial Generation" is also known as _____.
generation next
A firm that divides its customers into homogeneous groups based on their locations is said to be practicing _____ segmentation.
geographic
Jen's Dairy markets milk and other milk products that are purely organic and grown using sustainable farming methods. They also have a program under which they recycle used cans of their products. These marketing strategies employed by Jen's Dairy show that they are involved in _____.
green marketing
While making purchasing decisions, consumers are likely to buy products they believe will move them closer to their _____ self.
ideal
Buyer-seller communications in which the customer controls the amount and type of information received from a marketer is called _____.
interactive marketing
An undifferentiated marketing strategy:
is efficient from a production point of view.
The _____ equals the revenues and benefits a customer brings to an organization, minus expenses to attract and maintain the relationship.
lifetime value of a customer
The Gillette Company is a leader in the market for razors/blades/shaving systems for men and women. Its product development history goes back to the introduction of the first safety razor. Since then, it has regularly led the market in introducing products to meet the needs of its customers. The following list outlines some of its major product introductions: safety razor twin-bladed razor twin-bladed disposable razor pivoting-head razor pivoting-head disposable razor razor designed specifically for women triple-blade razor battery-powered razor Gillette's introduction of the twin-bladed disposable razor would be considered which of the following:
line extension
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have values for customers, clients, partners, and society at large is called _____.
marketing
_____ results from management's failure to recognize the scope of its business.
marketing myopia
The Fayetteville-Springdale-Rogers region of Arkansas has approximately 340,000 people. Fayetteville is an urban center and it alone has a population of 60,000. The Fayetteville-Springdale-Rogers region would be classified as a:
metropolitan statistical area (MSA).
A musician endorses a certain automobile. This is an example of ____.
person marketing
Which of the following data collection methods is considered as the best means for obtaining detailed information about consumers?
personal interviews
An advertisement titled "The Ultimate Place for a vacation" is an example of _____.
place marketing
Placing a product at a certain point or location within a market in the minds of prospective buyers is known as _____.
positioning
Cadillac has strategically sought to become known as a prestige brand among 30 to 50 year olds and routinely uses television advertising to showcase the high quality and luxury attributes of the new models. It seeks to use _______ to separate the brand from other US brands and be perceived more similarly to European models such as Audi and BMW.
positioning
Paul Simmons owns a food distribution business and employs approximately 80 people in a variety of positions including executive management, administrative support personnel, sales, distribution, and marketing. He's very interested in maintaining a positive work culture and aspires to being one of the best places to work in his region. He recently hired a marketing consulting firm to complete an employee satisfaction study for him to gain insight into how his workers view their job, benefits, supervisors, and other important elements such as compensation and benefits. What type of data best describes this project?
primary data
When a company conducts a marketing research project, it is engaging in which one of the Eight Universal Marketing Functions?
promotion
In Australia, consumer spending in the past few months has seen an upward trend, and buyers are willing to spend more on premium brands. From this pattern, we can say that Australia is in the _____ stage of the business cycle.
prosperity
In recent years, consumers have become increasingly concerned about the use of pesticide and other chemicals in the agricultural industry. Some are worried that the increased use of chemicals has led to higher incidences of disease such as cancer. Consumers who share these opinions will often purchase products labeled "organic" and "natural". Marketers who are utilizing these words on product packaging or in their promotions are implementing _______ segmentation.
psychographic
Sharon is purchasing a food processor and has done extensive research on all the models available in the market. She is convinced about a particular product and is trying to finalize a store from where to make the purchase. Sharon is in the _____ stage of consumer decision process.
purchase decision and purchase act
_____ describes the current era in the history of marketing.
relationship marketing
Elger Labs introduced the MPMAN F10 in 1998 which is regarded as the world's first MP3 player featuring only 32 MB of memory in 1998. Other competitors entered the market and the Apple iPod made its debut in 2001 and included a 1.8-inch Toshiba 5GB hard drive and a large black-and-white display. The model retailed for $400 and it was only compatible with Mac computers. The early brands are no longer available and the iPod has become the market leader. What type of strategy did Apple employ with its introduction of the iPod in 2001?
second mover strategy
The revised VALS segmentation system categorizes consumers based on _____.
self motivation
A(n) _____ occurs when buyers outnumber sellers or product supply.
seller's market
The relative position of an individual member in a group is called _____.
status
A firm is most likely to opt for a family brand to market its products when the products are:
similar in quality and are closely related to one another.
The use of online social media as a communications channel for marketing messages is known as _____.
social marketing
Corporations that voluntarily recycle paper, glass and electronics practice _____.
social responsibility
Which of the following disciplines is a major influence on marketing?
sociology
At a time when computer users were having trouble storing, sending, and displaying photos, Apple introduced the iMac computer, which was equipped with a digital camera interface and photo-handling software. This product was a result of Apple recognizing its:
strategic window.
Products that can be produced, used, and disposed of with minimal impact on the environment are called:
sustainable products.
According to the VALS framework, achievement-motivated consumers are influenced by:
symbols of success
An evoked set is limited in case of an immediate need.
t
Firms conduct marketing cost analysis to determine:
the profitability of certain customers, territories, or product lines.
Five years ago, Joshua spent 28 percent of his $45,000 yearly income on his bachelor apartment. Today, Joshua is earning $60,000 annually. According to Engel's laws, the percentage of income he will spend on his new apartment will be:
the same as it was back then, about 28 percent.
_____ refers to buyer and seller exchanges characterized by limited communications and little or no ongoing relationships between the parties.
transaction based marketing
DHL has developed a reputation as an international business specialist enabling companies who produce or distribute products to economically ship finished goods to customers. Which function of marketing does DHL provide to companies?
transporting
The want satisfying power of a product is its _____.
utility
Decisions about distribution strategy primarily involve challenges such as:
which marketing channels to adopt.
_____ are intermediaries that operate between producers and resellers.
wholesalers
A present-day marketer is reviewing data attempting to differentiate a target group of consumers that meets the four basic requirements of effective segmentation. One group stands out above the rest, and he will direct his marketing efforts toward that group. Toward what group will he direct his marketing efforts?
women
Marketers are keenly aware that good marketing alone is not enough to win the hearts and minds of consumers anymore. Now, marketers must market in a socially responsible manner or risk alienating consumers in ways that can be irreparable. Which one of the following statements is trueregarding social responsibility?
Government legislation can mandate socially responsible actions.
Your coffeehouse is struggling to build a customer base, despite your prime location adjacent to a big university. When you confide in your former marketing professor, he tells you the problem is with insufficient time utility. How can you address this aspect of your marketing?
Open earlier in the morning.
You aspire to a career developing new biomedical technologies. Choose the type(s) of institutions that might play a role in your future endeavors.
Technology analysts Industry Universities Government Not-for-profit organizations
In this era of marketing, strategic alliances are (were) very important.
The relationship era
