TTU marketing Exam 1
When companies embrace ________, they appeal not only to their shareholders but also to all of their key stakeholders.
conscious marketing
Population estimates show that by the year 2050, nearly 23 percent of the population in the United States will come from which group?
Hispanics
How might a technology company like Apple ensure that it behaves in a socially responsible way toward its employees?
It can ensure that pay practices are fair at all levels of the company.
The political/regulatory environment comprises political parties, governmental organizations, and
legislation and laws.
The ethical decision-making framework includes all of the following steps except
promote the firm's corporate social responsibility efforts.
Strategic efforts to supply consumers with environmentally friendly merchandise are called
green marketing.
ABC Company knew that its customers were interested in environmentally friendly business practices, so it began marking all of its products as environmentally friendly because they were made with all-natural ingredients, even though ABC's plant was one of the worst polluters in town. The term for this practice is
greenwashing.
Anupam's company manufactures industrial ladders. He is concerned that consumers who do not understand ladder safety will purchase these extra-tall ladders and injure themselves. During which phase of the strategic marketing planning process should this issue be addressed?
implementation
Whereas it took 38 years for the radio to be adopted by 50 million people and 13 years for television, it only took 2 years for the same number of consumers to sign up for
In what country was a law recently passed requiring grocery stores to donate food to charity that would otherwise be tossed?
France
A meat-packing company discovers that six months ago it unknowingly distributed meat from a cloned cow. The firm is unaware of any specific risks to humans consuming the meat; however, some scientists have raised questions, and some consumers are afraid of possible future problems. The meat company has to decide whether or not to make this matter public. How should it begin the process of making an ethical decision?
Identify the issues raised by the situation.
How might a technology company like Apple ensure that it behaves in a socially responsible way toward its customers?
It can protect the privacy of personal information collected on its website.
Which of the following statements regarding corporate social responsibility is true?
It sees limited overlap between the business and society, and between business and the planet.
All of the following are questions posed in the ethical decision-making metric except
Will this action help advance my career?
To avoid having ethical situations become problematic for a firm, the short-term goals of each employee must
be aligned with the long-term goals of the firm.
Compared to the average company, firms with strong ethical climates tend to
be more socially responsible.
Which of the following descriptions embodies conscious marketing principles?
both ethically and socially responsible
After a firm has identified the various stakeholders and their issues and gathered available data related to an ethical decision-making situation, all parties relevant to the decision should
brainstorm for alternatives.
To become a more value-driven organization, Pokrah University is holding regular coffee-hour discussions with its students and surveying its graduates regarding students' educational needs and desires. By doing so, Pokrah University is becoming more value driven through
building relationships with customers.
The United States has often been called the "melting pot" society, integrating people from many different cultures into the social fabric of the country. The challenge for marketers is to determine whether a group's culture
can be used as a relevant identifier for a particular target group.
When Toyota owners began to report problems with sticking accelerator pedals and nonfunctioning brakes, Toyota at first ignored or rejected the claims. Eventually, the company evaluated the issue and issued a recall. Which of the four steps of the ethical decision-making framework was Toyota performing when it recalled several of its models?
choose a course of action
The principle that decisions be ethically based is part of the concept of
conscious marketing.
Maria is the CEO of a small manufacturing firm. She is concerned with meeting the investment objectives of the firm's shareholders, and sees no value in corporate social responsibility. Maria's attitude is
consistent with the views of other critics of corporate social responsibility.
David is considering the question, "Did our actions have a negative impact on any stakeholder group?" David is addressing marketing ethical issues in the ________ phase of the strategic marketing planning process.
control
Yellow Trucking provides transportation services for Dan's Delicious Donuts so that Dan's stores always have fresh stock. Yellow Trucking is an example of a
corporate partner.
For every consumer who purchases a pair of TOMS shoes for $55, the company promises that a needy child will receive a pair of shoes. TOMS shoes is actively engaging in
corporate social responsibility.
Marketers want their firms to develop excellent supply chain management and strong supplier relations so they can
create a sustainable competitive advantage.
The fundamental goal of marketers when creating goods, services, or combinations of both is to
create value.
Astute marketers recognize that the increasing disparity of income between upper- and lower-income groups
creates opportunities to provide value to each group.
Marketing enriches society by
creating charitable campaigns.
Disney's My Magic system, which enables visitors to swipe their Magic Band wristbands to get on rides, make purchases, and open their hotel room door, is an example of ________ excellence.
customer
Pepsi has cooperated with America on the Move to improve many of its products and their labels, such as reducing the saturated fat in its Frito-Lay Ruffles. This form of social responsibility most directly impacts
customers.
When marketers look at advertising media, they often begin with viewer or listener profiles such as age, gender, race, and income. They then compare the media profile with their target audience. These marketers are using ________ to see if the media "fit" with their advertising agenda.
demographics
Marketing ethics is concerned with all of the following except
distinguishing between right and wrong actions in a business setting.
Sodexo is a corporation that manages school cafeterias, university dining halls, mess halls at military bases, concession stands at sports arenas, and other large-scale food service facilities. If Sodexo were to begin to sell individual frozen meals in supermarkets, it would be pursuing a ________ growth strategy.
diversification
According to one definition, CSR can be described as context-specific actions and policies, taking stakeholders' expectations into account, to achieve what is referred to as the triple bottom line. The triple bottom line includes ________ performance.
economic, social, and environmental
As it pertains to the marketing plan, understanding the causes of performance, regardless of whether that performance exceeded, met, or fell below the firm's goals
enables firms to make appropriate adjustments.
After the previous sales representative in his territory infuriated an important customer, Ben visited the customer once a month, never asking for business but hoping to rebuild trust through listening and expressing concern. Finally, after more than two years, the customer gave Ben an order. Ben was providing the important marketing function of
engaging customers and developing long-term relationships.
In the summer of 2002, the euro was valued at slightly less than US$1. By 2008, it had risen to an all-time high of $1.60, but in late 2017, the euro was once again slightly less than $1. This change in value is called
foreign currency fluctuations.
Lamar owns four dry cleaning stores in the suburbs of Orlando, Florida. He recently updated his STP analysis, and has just finished adjusting his marketing mix based on the STP results. His next strategic marketing decision will most likely involve determining
how to allocate resources among his four stores.
As a retail clothing store manager, Sandy frequently asks his staff what customers are saying and what they are asking for. He also attends the quarterly clothing show at the regional merchandise mart. Sandy's efforts will likely help him
identify potential opportunities. Correct
Leslie is the marketing manager for an electronics company. While on vacation in Ecuador, she visited electronics stores in the major malls in Quito, the capital city. Most of her company's products were available, except for smartphones. When she returned to work, she mentioned this observation to her international sales manager. Leslie was providing the important marketing function of
identifying opportunities to expand.
By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to
increase the perceived value of its products.
Laws that prohibit the formation of monopolies or alliances that would damage a competitive marketplace benefit consumers through
increased choices.
Most banks implement customer retention programs aimed at their best customers. They do this because they know that retaining customers usually results in
increased long-term profits.
The "Milk Life" advertising campaign, designed to increase awareness of the health benefits of milk, was intended to help market a(n)
industry.
The difference between a firm's immediate marketing environment and its macroenvironment is that the macroenvironment
is external.
Many marketing students initially overlook the importance of marketing channel management because
many of these activities take place behind the scenes.
H&R is a small, local heating and air conditioning business. The local military base is a potential source of growth, and H&R already installs and services the type of equipment the military would require, but it is difficult to get established as a certified government contractor. H&R is considering a ________ growth strategy.
market development
Most banks now have customer relationship software that, when a customer contacts the bank, tells the service representative what types of accounts, loans, and credit cards the customer currently has. Service representatives use this information to sell some of the other services the bank currently offers to these customers. This is a ________ growth strategy.
market penetration
The process of dividing the market into groups of customers with different needs, wants, or characteristics is called
market segmentation.
The primary purpose of the ________ plan is to specify the marketing activities for a specific period of time.
marketing
Data about how, when, why, where, and what people buy refers to
marketing analytics.
When making decisions, managers often have to decide between doing what is beneficial for themselves (and possibly the firm) in the short run, and doing what is right and beneficial for the firm and for society in the long run. To address this conflict, a firm
must align the short-term goals of each employee with the long-term, overriding goals of the firm.
If Hazel decides to sell the best ice cream on earth, and intends to establish a strong ethical climate in her organization, during which phase of the strategic marketing planning process should she introduce ethical considerations?
planning
The government has enacted laws that promote both fair trade and competition by prohibiting the formation of monopolies or alliances that would damage a competitive marketplace, fostering fair pricing practices for all suppliers and consumers. These actions are part of the ________ environment of business.
political/regulatory
Which of the following is the best way to build a sustainable competitive advantage using product excellence?
positioning the product using a clear, distinctive, desirable brand image
Coca-Cola sells two different zero-calorie versions of Coke: Diet Coke and Coke Zero. It has chosen to attempt to appeal to men with Coke Zero. In addition to launching an ad campaign featuring men enjoying Coke Zero, Coca-Cola also designed a masculine-looking can for Coke Zero, with bold red lettering on a black background. This specially designed can is an example of
positioning.
For most makers of ________, especially those that resonate strongly with consumers' sense of nostalgia and childhood memories, changing ingredients to healthier options represents a grave risk.
processed foods
Mary Ann phoned her auto insurance agent to renew her policy. The agent told her about new types of insurance now available—to cover her apartment, or even the engagement ring she just got from her fiancé. The agent was pursuing a ________ growth strategy.
product development
Mary works for a small computer software company. Her boss is constantly improving the company's products but neglects customers, billing, and promoting the company. Her boss is probably stuck in the ________ era of marketing.
production-oriented
When a T-shirt manufacturer states, "We sell it only in black because that way we can buy plenty of black fabric and run our plant efficiently," its statement reflects the views that were popular in which era of the evolution of marketing?
production-oriented
The Child Protective Act
prohibits the sale of harmful toys and components to children.
Google and other search engines allow marketers to bid to have their ads shown when consumers search keywords related to the firm's products. These marketers are attempting to create value through
promotion.
A product that is in a high-growth market but has a low market share would be classified as a ________ on the BCG matrix.
question mark
Conscious marketing encompasses all of the following overriding principles except
recognition of the company's bottom line.
What percentage of marketers assert that they use social media tools for their businesses?
97 percent
anice was tired of her winter coat, so she sold it to her friend, Marissa. This is an example of ________ marketing.
C2C
Marketers know that, compared to high school graduates who are working full time, college students
spend their disposable dollars differently.
When Walmart issued new standards for livestock products that were raised on food without antibiotics or artificial growth hormones, it considered multiple ________, including the ranchers that supply the food, its customers, and animal welfare groups.
stakeholders
Fernando was thrilled to find out that his company had just decided to invest a great deal of money in the product he was managing. He knows that even with its recent high rate of growth and the fact that it dominates its market, he would need more money to establish it firmly. Using the BCG portfolio analysis, his product would be classified as a(n)
star.
The automobile manufacturing industry closely watches annual consumer satisfaction surveys. For years, Japanese car companies consistently had the highest levels of customer satisfaction, creating a(n) ________ for these companies.
sustainable competitive advantage
Even though they operate from out-of-the-way airports and offer few extra services, discount, no-frill airlines like JetBlue have been successful. Consumers obviously consider
the benefit of lower prices to be greater than the cost of reduced services and less convenience.
All of the following are included in the decision-making metric except
the likability test.
In delivering value, marketing firms attempt to find the most desirable balance between
the need to provide benefits to customers and keep down costs.
According to your text, in the broadest terms, the "marketplace" refers to
the world of trade.
Many American consumers are purchasing hybrid automobiles even though they are more expensive than conventional compact cars. These consumers
value contributing to a greener environment.
________ is(are) distinguished from the other generational cohorts in that the group's oldest members are now collecting Social Security.
Baby Boomers
________ provides a detailed, multipronged "Statement of Ethics" that can serve as a foundation for marketers.
The American Marketing Association
Nordstrom, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputation for excellent customer service will most likely result in
a sustainable competitive advantage.
Zara is a women's clothing retailer headquartered in Spain, with stores located in many countries. Zara has developed a "quick response" system that allows store merchandise to be adjusted rapidly to fit changing customer preferences. Every aspect of Zara's operation is optimized for this system, making it difficult for competitors like The Gap to duplicate. Zara has established
a sustainable competitive advantage.
In the ethical decision-making metric, the question that asks "Would I want the person I admire most to see me doing this?" applies to the
admired observer test.
Julie is considering a career in marketing. She is concerned about the image of marketers as fast-talking, high-pressure people who care only about making a sale. When reading about the core aspects of marketing, Julie is relieved to see that in marketing
all parties to the transaction should be satisfied.
Alicia has been asked to approve a marketing campaign that, although it is not illegal, promotes food products to children. She is concerned that the food products are not particularly nutritious, although they are not as bad for children as some others sold by competitors. By using the ethical decision-making metric, Alicia will
evaluate the alternative using a series of questions.
Because it was able to deliver merchandise overnight, in the required quantities and at a lower delivered cost than its competitors, Joe's Sports Shack was given exclusive rights to sell clothing with school logos for the school district. Joe's demonstrates ________ excellence.
operational
Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following except
performance.
E-books, in addition to being an alternative product form, provide ________ value creation since they can be downloaded via the Internet immediately when and where they are needed.
place