Test 1

Jennifer is looking for a new pair of running shoes. She recently viewed a TV commercial about Nike's new running shoes. Her attitude toward the ad and the product are affected by her ________.

Perceptions

Data collected specifically for the research question under consideration are called ________ data.

Primary

Many companies are using popular songs from the 1960s and 1970s in their advertising. When individuals, particularly baby boomers, hear that music it connects them with positive memories and the product and brand being advertised. This is because individuals are involved in ________.

Classical conditioning

Samsung operates in both the consumer and business markets. It reorganized to become more efficient and was worried about serving its business customers too well. This is a problem because Samsung's business customers are also the company's ________.

Competitors in the consumer market

CRM helps in determining which customers to target based on known or learned characteristics that will drive growth. This describes which of the three CRM objectives?

Customer Acquisition

________ is not a support service in the value chain.

Customer service

When all is said and done, the business-to-business market and the business-to-consumer market are the same with respect to the consumer decision process model.

False

When consumers order a newspaper subscription, they want the paper delivered early in the morning so that they can read it before setting out for the day. It appears that newspaper publishers are offering form, time, and place utility but not ownership utility.

False

The GE Business Screen dimension of market attractiveness includes all but ________.

Market share by segment

When a company is focused on uncovering needs that customers do not realize they have, it is using a:

Market-Driving Strategy

When a company is focused on uncovering needs that customers do not realize they have, it is said to be a ________ firm.

Market-driving

All of the following are personal attributes except ________.

Personality

Data collected specifically for the research question under consideration is called:

Secondary Data

The manager of ABC Brands has large amounts of data on customers, employees, suppliers, and retailers from her marketing information system. She would like to know what important insights the data hold, but she does not have the software to unlock this information. The manager should purchase ________ software.

Statistical

What country spends the most on market research?

The United States

______ is an offshoot of ROMI that was developed to apply the same principles to customers.

ROCI

A beer manufacturer has noticed that the cost of hops has increased four times in the last year. A description of this would be found in the ________ SWOT analysis.

Threats

Fine Hardwoods, Inc. supplies furniture and cabinet makers with mahogany, cherry, walnut, and other high-quality wood. The company should watch the housing market trends each month because sales are dependent on derived demand from the new construction and remodeling markets.

True

Focus groups bring together 6 to 10 people for an unstructured, rich discussion that is guided by a moderator.

True

Marketing research is called for when the answer to a specific problem or issue is not available from a firm's market information system or other sources.

True

Misunderstanding or making information fit existing beliefs is known as selective distortion.

True

Most products are evaluated on two dimensions—instrumental performance and symbolic performance.

True

Pro-social or purpose marketing refer to practices of socially responsible firms like Panera that incorporate doing well by doing good.

True

Some firms come close to one-to-one marketing by employing mass customization.

True

The GE Business Screen portfolio analysis uses three levels—high, medium, and low—to rank business position and market attractiveness.

True

The most important tool to develop and maintain a strong customer relationship in B2B markets is personal communication.

True

When the Chicago police are investigating a crime, they use video from posted cameras, verbal accounts from eyewitnesses, text from social media, and video and audio from police officers' body cameras. What feature of Big Data is BEST represented here?

Variety

Jean-Paul uses his smartphone to check the balance in his checking account before buying concert tickets with his debit card. Jean-Paul enjoys ________ utility.

Time and place

Peter Drucker, the father of modern management, stated that the function(s) of an organization is (are) ________.

To market and to innovate

A firm with a production orientation assumes that "if you build it, they will come."

True

Buying center participants include users, gatekeepers, deciders, influencers, and initiators.

True

Credit availability, creative pricing, and new financing arrangements enable and even encourage people to engage in aspirational purchases.

True

Exploratory research is useful for clarifying the research problem so that testable hypotheses can be developed.

True

External factors such as social and cultural forces affect the consumer in the decision process.

True

CRM helps in determining which customers to target based on known or learned characteristics that will drive growth. This describes which of the three CRM objectives?

customer acquisition

Carol's Croissants has always limited its products to U.S. customers but recently decided to introduce one of its products in Belgium. The company does not plan to change anything about the product before introducing it. This is an example of a:

direct product extension

Xie Zang is considering buying a new car. Because she had a good experience with her previous car from XYZ Motors, she determines that a car from XYZ Motors will best meet her current needs. This is an example of the brand ________ role in customer purchase decisions.

education

As the marketing manager of Tiny Tire Company, you are interested in assessing whether it is possible to decrease the amount of time between customers' tire replacement services and also whether it is possible to increase average transaction amounts through add-on sales. To assess customer satisfaction with current services, you decide to consult your CRM system to:

identify the frequency and size of customer orders

Peter Drucker, the father of modern management, stated that the business function(s) of an organization include:

marketing and innovation

When Nike moved manufacturing to China, it took into account China's labor laws when fulfilling hiring needs. Which type of information was being addressed?

political and legal

How is the growth stage of the product life cycle (PLC) characterized with respect to sales revenue and profitability?

sales begin to decline

Warranties do little to inform the customer about perceived product quality and manufacturer commitment to customer satisfaction.

true

When the Chicago police are investigating a crime, they use video from posted cameras, verbal accounts from eyewitnesses, text from social media, and video and audio from police officers' body cameras. What feature of Big Data is BEST represented here?

variety

An original equipment manufacturer (OEM) can buy on "best" price or may use other criteria to make purchase decisions, such as ________.

A) Product quality B) Ability to meet demand C) Just-in-time delivery schedules D) All of the above All of the above is correct

________ indicates the amount of interpersonal contact an individual has with the reference group.

Degree of affiliation

To remain competitive, firms collect intelligence on a number of external factors. Information related to population change is referred to as ________ information.

Demographic

To remain competitive, firms collect intelligence on a number of external factors. Information related to population change is referred to as:

Demographic Information

Which of the following is not part of the five-stage model of consumer decision making?

Evaluation of information

Every time Tabitha pays bills for her cell phone or car insurance, services that are important for her, she is practicing the central tenet of marketing called:

Exchange

Every time Tameeka pays bills for her cell phone or car insurance, services that are meaningful for her, she is practicing the central tenet of marketing called ________.

Exchange

An RFP is a document that tells suppliers prices the company is willing to pay for a product over a defined period of time.

False

McClelland's Achievement Motivation Theory suggests that people need a sense of existence and relatedness. From a marketing standpoint, creating a relationship with the customers extends the customers' satisfaction with the product, according to this theory.

False

Of all the business fields, marketing is most visible to people outside the organization.

False

One weak link in the value chain is usually not noticed by consumers.

False

Qualitative research is less structured than quantitative research, making it more useful when performing statistical analysis.

False

Value may be defined as the ratio of benefits to monetary costs.

False

Technology has transformed the business purchase decision process. The result of this transformation is that ________.

Frontline managers are now making purchases directly

The nature of business-to-business markets requires ________.

A) A more personal relationship between buyer and seller B) Investment of more resources to foster and maintain personal contact C) Investment in suppliers to strengthen relationships D) All of the above All of the above is correct

Fun Time Corp. has decided to move production of its board games for children and adults from the United States to Mexico to realize cost savings. At the same time, the company has decided to make Spanish-language versions of the games and distribute them in Central and South America. Most likely Fun Time is pursuing a strategy of ________.

Growth/concentration based on horizontal integration

When industrial firms create their product line, they attempt to ________.

Have different quality and price levels

As the marketing manager of Tiny Tire Company, you are interested in assessing whether it is possible to decrease the amount of time between customers' tire replacement services and also whether it is possible to increase average transaction amounts through add-on sales. You decide to consult your CRM system to ________ customers' current orders.

Identify the frequency and size of

The CEO of Online Clothing Retailer is interested in learning about how customers navigate his company's website. He asks ABC Research to set up a tracking program that describes how customers move around the site. ABC uses ________ to collect the data.

Mechanical observation

Jeffie completed his mission statement for his marketing plan and has written down company goals; now he is focusing on his business's ________, or how he will be able to attain these goals in specific, measurable ways.

Objectives

ABC Automobile Manufacturers is the leading brand in economy cars with respect to gas mileage. If ABC wanted to start making hybrid vehicles under the same brand name, the company would likely be successful because of its previous product offerings. This is an example of linking the ________ benefit of brand equity to marketing strategy.

brand connections

The probability of a product's success is determined in the ________ stage of the product development process.

business case analysis

Jeremy runs a U.S.-based company. Recently, some of his customers with global operations have placed additional orders that require Jeremy to work with their foreign subsidiaries. As a result, Jeremy has developed local distribution and service reps in three foreign markets. What stage of the global experience learning curve is Jeremy experiencing?

companies with foreign marketing

The early majority represents a good portion of total product sales. Generally this group needs to be ________.

convinced of the product's claims and value proposition before making a commitment

The most significant global economic trend in the past 15 years has been the:

emergence of regional market zones

Above all, the purpose of the package is to promote product purchase.

false

Durable products such as televisions and microwave ovens have a shorter product life than nondurable products such as health and beauty products.

false

Marketing dashboards display information in numerical formats and offer subjective feedback about initiatives and results.

false

Product definition has three objectives: define the product's value proposition, identify the key suppliers of raw materials and the nature of those markets, and define the product's characteristics.

false

The administration of information security when using CRM is part of the marketing manager's job.

false

The more cobranded products a company has, the stronger its brand image because of the increased exposure of the brand to the public.

false

Marketers have two key communications strategic decisions: the degree to which marketing communications focuses on a single product, and the allocation of budget money across product items in a product line.

false?

The brand name "Bailey's" is used for a variety of products including liqueur, coffee creamer, and candies. This is an example of a ________ strategy.

family

It is important to remember that a marketing plan should be able to change as customers change, competitors develop new products, or there is a change in the external environment. In other words, a marketing plan should be ________ to be successful.

flexible

Pricing strategy is related to product line strategy. Often multiple price points are targeted at specific markets with unique features following a ________ product line strategy.

good, better, best

The choice of generic strategy is usually driven by ________ capabilities of the firm, as well as the ________.

growth/concentration based on horizontal integration

Having too many internal metrics puts the focus on what a company already knows and fails to put the focus on the unpredictably dynamic external marketplace. Which pitfall of marketing dashboards does this represent?

overreliance on inside-out measurement

Cost reduction is a specific method for introducing lower-cost products to the market. This may involve ________.

reducing features

Elba's new blouse had a label that said it was guaranteed not to shrink or fade as long as it was dry cleaned and not hand-washed. This is an example of a ________ warranty.

specific

Fun Time Corp. has decided to move production of its board games for children and adults from the United States to Mexico to realize cost savings. At the same time, the company has decided to make Spanish-language versions of the games and distribute them in Central and South America. Most likely Fun Time is pursuing a strategy of:

stability

A beer manufacturer has noticed that the cost of hops has increased four times in the last year. A description of this would be found in the ________ section of the SWOT analysis.

threats

When a sales representative calls on a customer, or a call comes in to the customer service center, these are called customer ________.

touchpoints

When a sales representative calls on a customer, or a call comes in to the customer service center, these are called customer:

touchpoints

A customer's equity with a brand is the difference between the perceived benefits and costs associated with the brand.

true

A point-of-sale system is an example of a customer touchpoint.

true

Brand identity is a summary of unique qualities attributed to the brand.

true

Goods incorporated directly in a manufacturer's process are called materials (either natural products or farm products) or parts (either fully assembled or components).

true

Marketing managers are a core contributor to the success of CRM by virtue of their expertise on customers and relationships

true

Return on marketing investment (ROMI) is the impact an investment in marketing has on a firm's financial success.

true

Trial purchase is a key focus in product launch because if you can get customers to try a new product, you can win them over with superior product design, features, and value.

true

A luxury car dealership assigns a service representative to each customer. This service rep handles all routine and emergency service appointments, writes thank-you letters, and advises the car owner when the next service date is anticipated. This dealership has adopted a:

Relationship Orientation Approach

A luxury car dealership assigns a service representative to each customer. This service rep handles all routine and emergency service appointments, writes thank-you letters, and lets the car owner know when the next service date is anticipated. This dealership has adopted a ________ approach.

Relationship orientation

Gen Y consumers are much more receptive than their parents and grandparents to electronic commerce as a primary means of receiving marketing communication and purchasing. The marketing change driver represented by this is a:

Shift in generational values and preferences

Gen Y consumers are much more receptive to electronic commerce as a primary means of receiving marketing communication and purchasing than their parents and grandparents. The marketing change driver represented is ________.

Shift in generational values and preferences

The National Do Not Call Registry is an example of how the _________ environment affects marketing.

political/legal

At Nancy's Natural Potato Chip Corp., the company always take into account the quality of the ingredients going into the snack foods it produces and recently rejected a supplier who claimed to use all-natural ingredients but actually did not. What part of the marketing mix did this claim affect?

product

After months of in-home research, Kraft discovered that its customers often transferred Chips Ahoy cookies to jars to keep them from going stale. The company solved this problem by creating a patented resealable opening on the top of the bag. This is an example of the ________ objective of package design.

protection