MKTG Mindtap Quizzes Exam 1

Intuition and expediency are primary characteristics of which of the following sales forecasting methods? a. Executive judgment b. Market tests c. Industry indicators d. Surveys e. Cycle analysis

a. Executive judgment

To meet federal gas mileage regulations, Ford has developed aluminum vehicle bodies that are light enough to help conserve fuel. What kind of response is this to environmental forces? a. Counteractive b. Reactive c. Inactive d. Proactive e. Regulatory active

b. Reactive

____ that are either accepted or rejected become the primary conclusions of a marketing research study. a. Samples b. Issues c. Primary data d. Descriptions e. Hypotheses

e. Hypotheses

Research that allows marketers to make causal inferences about relationships is called a. linkage research. b. experimental research. c. relationality. d. exploratory research. e. variable research.

b. experimental research.

The total volume of a product, for all firms in an industry, that would be purchased by specific customer groups within a specified time period at a given level of industry-wide marketing activity, is the a. sales objective. b. market potential. c. competitor sales potential. d. company sales potential. e. forecasted sales.

b. market potential.

Any group of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to buy such products is a(n) a. undifferentiated market. b. market. c. segmented market. d. market variable. e. business market.

b. market.

Martina had invested a significant amount of resources into advertising a new product. She used tools and methods to measure and interpret the effectiveness of the campaign on customer sales. Martina used ___________ to evaluate her firm's return on investment. She then made adjustments based on her findings. a. single-source data b. marketing analytics c. databases d. big data e. marketing decision support systems

b. marketing analytics

Sara Lee introduced a new bread made with light whole wheat and packaged in smaller loaves as a response to the number of health-conscious customers who live alone. In this case, Sara Lee was most likely following the ________. a. production concept b. marketing concept c. selling concept d. retailing concept e. customer concept

b. marketing concept

A forecasting method that predicts sales based on relationships between past sales and other variables is called a. time series analysis. b. regression analysis. c. random factor analysis. d. customer forecasting surveys. e. the Delphi technique.

b. regression analysis.

The Children's Online Privacy Protection Act prohibits websites and Internet providers from a. selling products to children under the age of 12. b. seeking personal information from children under the age of 13. c. doing research about the buying habits of children under 15. d. selling products to children under the age of 18. e. selling products to children under the age of 15.

b. seeking personal information from children under the age of 13.

Less randomness and more difficulty in obtaining a sample size are disadvantages of a. telephone surveys. b. social media. c. personal interview surveys. d. online experimentation. e. mail surveys.

b. social media.

Secondary data cannot be obtained from a. computerized literature retrieval databases. b. surveys. c. the government. d. trade journals. e. international sources.

b. surveys

Special K cereal is aimed at people concerned about their weight. These people represent the Special K a. marketing tactic. b. target market. c. marketing mix. d. marketing strategy. e. consumer advocates.

b. target market.

More than half of the research of technology created is paid for by a. state and local governments. b. the federal government. c. corporations. d. large universities. e. private investors.

b. the federal government.

Which of the following uses tools and methods—including software to track, store, and analyze data—to measure and interpret the effectiveness of a firm's marketing activities? a. Marketing information system b. U.S. Census databases c. Marketing analytics d. Marketing database e. Customer relationship management

c. Marketing analytics

The element of the marketing mix used to increase awareness of a product or company is a. information. b. price. c. distribution. d. product. e. promotion.

e. promotion.

Which of the following variables would most likely be used to segment a business market? a. An attitude of the company's CEO b. The lifestyle of the company's buying agent c. The geographic location of the company d. Common opinions of the company's employees e. Net income generated by the company

c. The geographic location of the company

Collecting information from secondary sources such as business, government, trade, and general-interest publications plays an important role in a. environmental monitoring. b. competitive analysis. c. competitive forces. d. environmental scanning. e. environmental analysis.

d. environmental scanning.

Compared to a mail survey, telephone surveys have a. a faster response time, but less cost. b. fewer expenses overall. c. lower response rates but higher validity. d. higher response rates but higher costs. e. a slower response time, but less cost.

d. higher response rates but higher costs.

​If a family spends $2,000 a month on goods and services, how much of that $2,000 goes for marketing activities? a. ​$0 b. ​$500 c. ​$1,500 d. ​$2,000 e. ​$1,000

e. ​$1,000

____ competitors provide very different products that satisfy the same basic customer need. a. Generic b. Primary c. Product d. Brand e. Total budget

a. Generic

In your regular goods and services consumption activities, you purchase products for resale and for use in your daily operations. You also purchase products that you will use to produce other products. Based on this information, which of the following best describes the type of market you are part of? a. Business market b. B2C market c. Consumer market d. Reseller market e. Institutional market

a. Business market

Which of the following is a probability sampling technique used to reduce errors within random sampling? a. Stratified b. Cluster c. Quota d. Snowball e. Nonprobability

a. Stratified

Which of the following is an example of a behavioristic segmentation variable? a. Usage rate b. Family size c. Age d. Climate e. Personality characteristics

a. Usage rate

Howard Cooper of Owens Corning Fiberglass talks to David Weekley, a homebuilder, to find out how much fiberglass insulation he intends to use in building homes during the next year. Howard then multiplies that number by the total number of builders in the territory. He is using a ____ approach to measure sales potential. a. buildup b. multivariable c. regression d. breakdown e. use of product

a. buildup

Lil Angels Kids Spa offers various treatments designed to appeal to the younger customer. Treatment options include manicures, pedicures, facials, tea parties, and dress up photos. Parents can even purchase a birthday party package. Currently, Lil Angels offers its services only to girls under the age of 14. Originally begun in Delaware, Lil Angels is considering opening its spa/salons in other parts of the country and is planning to expand its offerings to girls aged 14 to 17. The company realizes that some changes may be needed. For example, management wants to find out if the older girls will be interested in their birthday party and tea party services. Refer to Scenario 6.1. Lil Angels Kids Spa is currently using a(n)____ targeting strategy. a. concentrated b. selective c. undifferentiated d. exclusive e. differentiated

a. concentrated

Many health-care companies are making adaptations to meet the needs of an aging population as the demand for medical services and products such as diabetes supplies increases. This change in marketing strategy is best explained by a change in a. demographics. b. income levels. c. diversity. d. cultural values. e. consumerism.

a. demographics.

Refer to Scenario 3.2. The income a consumer would use to purchase an iHome is considered ____. a. disposable income b. gross domestic income c. annual household income d. discretionary income e. buying power

a. disposable income

Population density and city size are ____ variables used for market segmentation. a. geographic b. environmental c. psychographic d. geodemographic e. demographic

a. geographic

Procompetitive laws are those designed to a. preserve competition. b. protect the consumer. c. reduce competition. d. ensure product safety. e. limit business lobbying of government officials.

a. preserve competition.

During the Industrial Revolution, most firms operated using a(n) ____ orientation. a. production b. evolutionary c. market d. sales e. societal

a. production

An overall plan for obtaining the information needed to address a research problem or issue is called the a. research design. b. problem recognition. c. sampling procedure. d. data collection method. e. hypothesis.

a. research design.

According to the text, ____ interpretation focuses on what is typical or what deviates from the average. a. statistical b. descriptive c. primary d. secondary e. exploratory

a. statistical

​Long-term relationships with profitable customers is the key objective of a. ​customer relationship management. b. ​e-marketing. c. ​personal selling. d. ​production oriented firms. e. distribution channels

a. ​customer relationship management.

A market orientation is an organization-wide effort that includes all of the following activities except a. focusing just on the marketing department. b. disseminating marketing intelligence across departments within the organization. c. researching customers' needs. d. being responsive to customers' ever-changing wants and needs. e. generating marketing intelligence for use in the organization.

a. focusing just on the marketing department.

Emmis Communications is concerned about how the increasing use of smartphones will affect the future sales of its radio stations. The company decides to gather information about the changing trends in music access and delivery to prepare for this trend. Emmis Communications' process is called a. environmental monitoring. b. environmental scanning. c. environmental forces evaluation. d. environmental assessment. e. environmental analysis.

b. environmental scanning.

Quota sampling is most commonly used in a. surveys. b. collecting primary data. c. exploratory studies. d. population research. e. descriptive research.

c. exploratory studies.

Primary data are best described as the a. first batch of data collected for a specific study. b. data that are observed, recorded, or collected directly from subjects. c. data that are compiled for some purpose other than the study in question. d. data that are necessary for a correct decision. e. data that are collected inside and outside the organization for some purpose other than the current investigation.

b. data that are observed, recorded, or collected directly from subjects.

Procter & Gamble markets Cheer detergent to young singles and couples and Dreft detergent to new parents. Procter & Gamble is using a(n) ____ targeting strategy for laundry detergents. a. stratified b. differentiated c. undifferentiated d. multiuse e. concentrated

b. differentiated

The product managers hire experts who create initial forecasts, submit them to the company for averaging, and have the results returned to them so they can make individual refined forecasts. The procedure may be repeated several times until the experts who are working independently reach a consensus. The process typically results in a very reliable sales forecast. What type of sales forecasting method do the product managers of Bose use? a. Customer survey b. Delphi technique c. Executive judgment d. Trend analysis e. Expert forecasting survey

b. Delphi technique

Which category of income are marketers most interested in? a. Discretionary income b. Disposable income c. Gross domestic income d. Total income e. Wealth

b. Disposable income

Honda conducts extensive consumer research and discovered that Latinos are reportedly 15% more likely to buy a Japanese auto brand, like Nissan, Honda, or Toyota, than any other group ethnic group. Honda is interested in the Latino market since it represents 20% to 30% of the brands' overall consumers. Due to its extensive use of research and customer insight, Honda has been the top-selling brand for Latinos for over 10 years thanks to effective marketing, like its partnership with the "La Reina de la Cancion" singing competition and an advertising campaign on Spanish-language TV. Based on this information, which orientation best applies to Honda? a. Environmental orientation b. Market orientation c. Sales orientation d. Production orientation e. Target market orientation

b. Market orientation

Holden, a buyer for a medium-sized company, is assessing the value of competing software products for use in his firm. Which of the following would NOT be a customer benefit considered in his determination of this product's value? a. Availability of training assistance b. Monetary price c. Ease of installation d. Availability of technical support e. Speed of delivery

b. Monetary price

Which of the following statements about self-regulatory programs is false? a. Many nongovernmental self-regulatory programs have neither the tools nor the authority to enforce guidelines. b. Self-regulatory guidelines generally are stricter than governmental regulatory programs. c. Self-regulatory programs' guidelines generally are more realistic and operational. d. When a trade association sets up industry guidelines, some firms that are in the industry but not in the trade association do not follow the guidelines. e. Self-regulatory programs are usually less expensive than governmental regulatory programs.

b. Self-regulatory guidelines generally are stricter than governmental regulatory programs.

When marketing researchers consider sampling techniques, they are preparing to collect ____ data. a. internal secondary b. census c. statistical d. primary e. external secondary

d. primary

You define marketing as: a. the process of persuading or seeking to persuade a customer or organization to take a preferred course of action. b. the process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers. c. the process of speaking or writing in support or defense of a firm's products or services. d. the process or practice of calling public attention to a firm's goods and services through communications in print media, social media or other forms of information distribution. e. the process of proving that a product or service offered by an organization meets or exceeds customers' expectations.

b. the process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers.

You believe one of the most effective ways to remind your staff about key marketing concepts and objectives is to give them desk plaques with simple phrases. You want to create a phrase that reminds them that their primary focus should be creating customer value. ​ Which of the following phrases best tells the story of what customer value is? a. ​"Customer Benefits = Customer Value - Customer Costs" b. ​"Customer Value = Customer Benefits - Customer Costs" c. ​​"Customer Value = Customer Benefits + Customer Costs" d. ​​"Customer Value = Customer Benefits = Customer Costs" e. ​​"Customer Costs > Customer Benefits = Customer Value"

b. ​"Customer Value = Customer Benefits - Customer Costs"

​The marketing mix is built around the a. ​company. b. ​customer. c. ​employee. d. ​retail outlet. e. ​product. Hide Feedback

b. ​customer.

Why would a company use the undifferentiated strategy? a. The undifferentiated strategy is the one strategy that provides maximum satisfaction to the whole market. b. The needs of individual consumers in the target market for a specific product are similar, so the organization can satisfy most customers with a single marketing mix. c. The undifferentiated strategy is expensive to implement but tends to produce the most sales. d. The needs of individual consumers are dissimilar, and distinctive marketing mixes are required to satisfy them. e. The market is made up of individuals or organizations with diverse need for products in a specific product class.

b. The needs of individual consumers in the target market for a specific product are similar, so the organization can satisfy most customers with a single marketing mix.

Anthony, a marketing manager for Uptown Fashion, a retail clothing store chain, wants to use observation methods to gather information about shopping behavior. Which of the following should Anthony know about observation methods of data collection? a. Observation uses secondary sources of data. b. Observation depends on mall interviews. c. Observation can tell Nathan what is being done, but not why. d. Observation focuses on open-ended questions. e. Observation works best for telephone surveys.

c. Observation can tell Nathan what is being done, but not why.

Which of the following is NOT a condition for an exchange to occur? a. The exchange must meet expectations. b. Two or more parties must participate, and each must possess something of value. c. The exchange should provide a benefit or satisfaction to only the buyer. d. Each party must have confidence in the something of value held by the other. e. The exchange should provide a benefit or satisfaction to both parties.

c. The exchange should provide a benefit or satisfaction to only the buyer.

Which of the following is the biggest drawback to using psychographic variables? a. They do not reflect socioeconomic characteristics of consumers. b. They give poor information about consumer needs. c. They are difficult to measure. d. They are very costly to collect. e. The resulting segments are difficult to be reached.

c. They are difficult to measure.

Which of the following industries is most commonly regulated by state regulatory agencies? a. Cigarette producers b. Automobile manufacturers c. Utility companies d. Clothing manufacturers e. Television networks

c. Utility companies

Creating long-term relationships with customers is a key component to surviving and thriving in today's competitive business landscape. One tactic many companies are deploying is the use of membership or loyalty programs where customers can accumulate points and receive discounts or free merchandise. For example, Best Western encourages customers to join their membership program and provide key contact information such as their e-mail, address, and phone number. Best Western offers benefits such as upgrades and free room nights based on the number of stays or points a customer has accumulated. This example demonstrates how Best Western is utilizing a. competitive insight. b. marketing mix deployment. c. customer relationship management. d. the marketing concept. e. marketing technology.

c. customer relationship management.

To fulfill customer expectations about a seller's future behavior, marketers must a. advertise and sell products. b. maintain favorable relationships with stakeholders. c. deliver on promises made. d. create, distribute, promote, and price products. e. tell the truth on social media.

c. deliver on promises made.

Textile companies historically face issues concerning the use of child labor in foreign countries and the various regulations created concerning this labor. The type of marketing environment forces executives for these companies are most likely to try to influence are ____ forces. a. environmental b. economic c. political and regulatory d. competitive e. sociocultural

c. political and regulatory

Refer to Scenario 5.2. Moki went to the university library and collected everything he could find on the kayaking and canoeing sports industries. He found a significant amount of information, but it didn't seem to be in the format that he could actually use in his analysis. Moki realized that he could just use this preliminary data as a resource to help him design his plan for utilizing focus groups and possibly for designing a survey. The preliminary data is referred to as _____, while the data from focus groups and surveys is ______. a. primary data; secondary and observational b. primary data; descriptive c. secondary data; primary d. secondary data; observational e. exploratory data; primary

c. secondary data; primary

The final step in the target market selection process is a. implementing the appropriate marketing mix for the target market. b. revising the final segmentation variables based on target selection. c. selecting specific target markets. d. eliminating market segments that are cost prohibitive. e. evaluating relative market segments.

c. selecting specific target markets.

Amos Holden runs a successful wholesale business that sells equipment to restaurants throughout the Southwest. He is considering purchasing his own fleet of trucks to deliver the equipment instead of relying on a shipper as he is currently doing. This most closely represents a decision about a. which supplier he should use. b. which market he should target. c. the best way to distribute his products. d. the product he provides to his customer. e. how to effectively promote his business.

c. the best way to distribute his products.

Malik has just become the new marketing analyst for a company that produces vinyl siding for homes. In an effort to forecast his firm's sales for the coming year, he needs to find where the greatest opportunities are for selling his product. Malik looks at the sales for the last five years and calculates a growth trend. He then collects data from a combination of other factors, such as population density, family size, home ownership, and per capita income. Finally, Malik looks at the correlation between the sales trend data and the various combinations of demographic data. Malik is employing the ____ forecasting method for the sales growth trend and the ________ method for the correlation. a. market tests; regression analysis b. market tests; time series analysis c. time series analysis; regression analysis d. regression analysis; time series analysis e. executive judgment; regression analysis

c. time series analysis; regression analysis

All of the following are steps in the marketing research process except a. interpreting research findings. b. reporting research findings. c. understanding your customer. d. collecting data. e. designing the research project.

c. understanding your customer.

​Although the monopoly is one of the four major market structures that theoretically exists in a free market capitalist system, the reality is there are very few true monopolies in the economy. This is the result of many federal laws and regulations that have been passed to limit the creation and power of monopolies. ​ Which one of the following federal laws was passed to prevent the creation of monopolies in the economy? a. ​Securities Act of 1933 b. ​Wheeler-Lea Act of 1938 c. ​Sherman Act of 1890 d. ​Lanham Act of 1946 e. ​Sarbanes-Oxley Act of 2002

c. ​Sherman Act of 1890

​The Federal Reserve Bank just issued its economic report on the U.S. economy for the quarter just ended. The following are some of the key points mentioned in the report: "Economic activity has continued to grow at a moderate pace since the last report." "Manufacturers report that business activity has picked up considerably in recent weeks." "Tourism activity has strengthened, no longer held back by harsh weather." "General merchandise retailers report that sales rebounded strongly in April and early May." "Retail contacts generally say that inventories are at satisfactory levels, that prices are mostly steady, and that the degree of discounting is little changed from a year ago." Based on these economic forces, you can conclude a. ​that the economy is in the prosperity stage of the business cycle and consumers' buying power is declining. b. ​that the economy is in the recession stage of the business cycle and consumers' buying power is declining. c. ​that the economy is in the prosperity stage of the business cycle and consumers' buying power is increasing. d. ​that the economy is entering the depression stage of the business cycle. e. ​that the economy is in the recession stage of the business cycle and consumers' buying power is increasing.

c. ​that the economy is in the prosperity stage of the business cycle and consumers' buying power is increasing.

You are working with the data scientist from your sales department to develop a regression model for forecasting your company's sales based on changes in the U.S. economy. Which of the following types of data do you need the most in order to enhance the accuracy of the model's forecasts? a. Qualitative data about your company's historical sales and U.S. economic performance statistics b. Quantitative data about your company's historical sales only c. Quantitative data about your company's historical sales and U.S. economic performance statistics. d. Qualitative data about your marketing environment e. Qualitative data about the department's sales force

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

Which of the following is an example of benefit segmentation? a. Lego has certain lines of Legos geared toward children and other lines targeted toward adult collectors. b. Michelin develops a more durable type of tire for the Southwestern market due to the impact hotter climate conditions can have on tires. c. REI has one line of bikes geared toward active bicyclists who bike everywhere and a line geared toward those who bicycle simply for recreational purposes. d. Colgate-Palmolive markets three types of toothpaste: toothpaste with fluoride to strengthen tooth enamel, toothpaste with whitening properties, and toothpaste for sensitive gums. e. A cigarette manufacturer separates the market into heavy users who smoke at least one pack a day, moderate users who smoke less than a pack, and the occasional user who smokes cigarettes or cigars only for special occasions.

d. Colgate-Palmolive markets three types of toothpaste: toothpaste with fluoride to strengthen tooth enamel, toothpaste with whitening properties, and toothpaste for sensitive gums.

What type of competitive structure exists when a firm produces a product that has no close substitutes? a. Monopolistic competition b. Oligopoly c. Mixed competition d. Monopoly e. Pure competition

d. Monopoly

During which stage of the business cycle is unemployment low and total income relatively high? a. Recovery b. Recession c. Depression d. Prosperity e. Repression

d. Prosperity

Refer to Scenario 1.3. Which environmental factor is exemplified by the customer trend that consumers were no longer willing to wait 7 to 10 days for a "build-to-order" computer and led HP to modify its business model to become a "make-to-stock" manufacturer? a. Competitive b. Legal c. Regulatory d. Sociocultural e. Economic

d. Sociocultural

Consumer confidence is at a low during periods of a. inflation. b. recovery. c. prosperity. d. depression. e. recession.

d. depression.

If your firm uses a(n) __________ targeting strategy, you can expect to need __________ production processes to support the strategy. a. undifferentiated; similar b. undifferentiated; more c. differentiated; less d. differentiated; more e. concentrated; more

d. differentiated; more

The undifferentiated targeting strategy for finding a target market will likely NOT be successful if a. people within the market have homogeneous needs. b. the firm defines the total market as its target market. c. the firm is capable of developing a single marketing mix that satisfies all people's needs. d. people within the market have heterogeneous needs. e. product positioning is needed.

d. people within the market have heterogeneous needs.

In reporting marketing research findings, the researcher should a. write the report in an extremely technical and statistical style. b. give management the answers it wants. c. fit the problem to a favored statistical technique. d. provide explanations in language that those who use the report to make decisions can understand. e. not acknowledge any limitations associated with the study.

d. provide explanations in language that those who use the report to make decisions can understand.

Refer to Scenario 1.1. Green Hills' competitors, the traditional cemeteries, focus on advertising and personal selling of their services. This indicates a(n) ____ orientation. a. production b. environmental c. marketing d. sales e. marketing concept

d. sales

Refer to Scenario 5.1. Barbara's testing of the Shredded Wheat promotion is an example of a. the collection of secondary data used in a descriptive study. b. the defining and locating problems through an observational technique. c. the collection of secondary data used in an exploratory study. d. the collection of primary data used in a descriptive study. e. information feedback used in an exploratory study.

d. the collection of primary data used in a descriptive study.

A disadvantage of the concentrated targeting strategy is that a. marketing personnel may become dissatisfied with the limited opportunities provided by this approach. b. production costs may be higher than with other strategies. c. marketing costs are often higher than for other strategies. d. the firm's financial condition is tied to a single and specialized marketing mix. e. large sales volumes cannot be generated.

d. the firm's financial condition is tied to a single and specialized marketing mix.

Coca-Cola has in recent years developed or acquired new non-cola products to appeal to changing consumer preferences for less sugar in their products. The most likely factor in this change is changes in a. the marketing concept. b. the technological forces of the marketing environment. c. the economic forces of the marketing environment. d. the sociocultural forces of the marketing environment. e. the marketing mix.

d. the sociocultural forces of the marketing environment.

The definition of marketing implies that ____ should receive benefits from exchange relationships. a. ​only businesses b. ​company management c. ​only the most important customers d. ​both customers and businesses e. ​only customers

d. ​both customers and businesses

The application of mechanical and human efforts to either people or objects to provide intangible benefits to customers is known as a(n) a. ​experience b. ​good. c. ​issue. d. ​service. e. ​idea.

d. ​service.

Refer to Scenario 5.1. When the researchers compared the average sales of Shredded Wheat for the group that saw the promotion with the average sales for the group that did not see the promotion, in which stage of the marketing research process were they? a. Developing hypotheses b. Defining and locating problems c. Collecting data d. Interpreting research findings e. Reporting research findings

d. Interpreting research findings

Paula's Choice is a firm that specializes in high-quality cosmetics and skin-care products that do not use any ingredients that could be potentially harmful to humans. Founder Paula Begoun founded the brand when she tried to find skin-care and makeup products that contained ingredients that would not irritate the skin, but could not find many that were of high quality. After she founded Paula's Choice, the firm did extensive research to find high-quality, nontoxic materials that could be used in cosmetics. Paula's Choice's target market is consumers who want high-quality makeup that is gentle on the skin. This desire for ingredients that are healthy and nontoxic reflects changes in which type of issue in the sociocultural environment? a. Demographic characteristics b. Technological c. Diversity d. Consumerism e. Cultural values

e. Cultural values

When Coca-Cola initiated a telephone survey to determine the effectiveness of a recent advertising campaign, one of the questions the interviewer asked was, "Have you ever heard of a cola made with zero-calorie, plant-based stevia?" This is an example of which of the following kinds of questions? a. Declarative b. Imperative c. Multiple-choice d. Open-ended e. Dichotomous

e. Dichotomous

Refer to Scenario 3.3. Which environmental force is Bank of America responding to by agreeing to pay fines and refunds to consumers? a. Sociocultural b. Technological c. Competitive d. Economic e. Legal and regulatory

e. Legal and regulatory

Publix is attempting to forecast sales for a new ice cream cake. To come up with an accurate forecast, Publix places the product in Atlanta supermarkets for a period of four months. In this instance, Publix is using which forecasting method? a. Executive judgment b. Time series analysis c. Regression analysis d. Survey e. Market test

e. Market test

What type of competitive structure exists when just a few sellers control a large portion of the supply of a product? a. Monopolistic competition b. Monopoly c. Pure competition d. Mixed competition e. Oligopoly

e. Oligopoly

Refer to Scenario 1.1. A new website has helped Green Hills' pre-planned funeral business grow. This would come under which of the following marketing mix variables? a. Product b. Promotion and price c. Distribution d. Price e. Promotion

e. Promotion

_____ data yields information that can be communicated through numbers or metrics. a. Qualitative b. Conclusive c. Experimental d. Exploratory e. Quantitative

e. Quantitative

A(n) ____ is a collection of information arranged for easy access and retrieval. a. marketing information system b. marketing decision support system c. online information service d. e-mail system e. database

e. database

Subscription services from firms such as IRI, which tracks consumer purchases, provide marketing researchers with a good source of ____ data. a. primary b. statistical c. census d. internal secondary e. external secondary

e. external secondary

A marketer that targets customers based on marital status and the presence and age of children is using a. psychographic variables. b. lifestyle variables. c. behavioristic segmentation. d. phase of life segmentation. e. family life cycle.

e. family life cycle.

Refer to Scenario 3.1. If the Federal Trade Commission believes that Casper Sports is acting in violation of the law, the first move for the FTC is to a. issue a cease-and-desist order. b. issue negative publicity about the company. c. contact the sporting goods manufacturers association d. seek a monetary penalty. e. issue a complaint stating that the business is in violation of the law.

e. issue a complaint stating that the business is in violation of the law.

Dyson is known for product innovation and the creation of products that go beyond consumer expectations, such as the AirBlade hand dryer, AirMultiplier bladeless fan, and the Supersonic hair dryer. In order to develop and deliver products to consumers that are high in value and successful, the firm implements a variety of ________ activities in order to stay abreast of consumer trends and preferences and to determine the potential for success of new products. a. econometric analysis b. online survey c. crowdsourcing d. competitive intelligence e. marketing research

e. marketing research

Most marketers operate in a competitive environment of either a. pure competition or monopolistic competition. b. oligopoly or monopoly. c. monopoly or pure competition. d. oligopoly or pure competition. e. oligopoly or monopolistic competition.

e. oligopoly or monopolistic competition.

The two least common competitive structures are a. pure competition and no competition. b. monopolistic competition and monopolies. c. oligopolies and pure competition. d. monopolies and oligopolies. e. pure competition and monopolies.

e. pure competition and monopolies.

The process of dividing a total market into market groups because people within each group have relatively similar product needs is called a. customization. b. target marketing. c. diversification. d. concentration. e. segmentation

e. segmentation

Age, rate of product use, location, and gender are all examples of common a. psychographic variables. b. geographic characteristics. c. demographic variables. d. targeting strategies. e. segmentation variables.

e. segmentation variables.

Generally speaking, individuals who are unemployed would NOT be considered a target market for lawn care services because a. they would not desire such products. b. such markets are narrowly defined geographically. c. they would not be willing to purchase such products. d. they would not be authorized to purchase such products. e. they would not have the ability to purchase such products.

e. they would not have the ability to purchase such products.

In today's marketing environment, competitors can take on many forms. For example, a Starbucks latte can be seen as a competitor to an issue of The New York Times. In this circumstance, these two products are described as ____ competitors. a. pure b. product c. primary d. generic e. total budget

e. total budget

​Marketing is the process of a. ​promoting products through personal selling and advertising to develop and maintain favorable relationships with customers and stakeholders. b. ​focusing on customers' needs. c. ​creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the achievement of the firm's objectives. d. ​delivering a standard of living to a society. e. ​creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment.

e. ​creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment.

What percent of all civilian workers in the United States perform marketing activities? a. 25 - 49 b. 100 c. 51 - 75 d. 50 e. 25 - 33

e. 25 - 33

The marketing concept focuses on a. ​creating maximum visibility for the firm. b. maximizing sales in a way that helps to achieve organizational objectives. c. maximizing market share in a way that helps to achieve organizational objectives. d. achieving the goals of top executives. e. satisfying customers' needs in a way that helps to achieve organizational objectives.

e. satisfying customers' needs in a way that helps to achieve organizational objectives.