BNAD 303 Quiz Questions

Which of the following firms would be most likely to have a monopoly for its competitive environment?

American Airlines

Nabisco learned that health-conscious consumers preferred lower fat snack and lower-carbohydrate foods. At the same time, the firm saw sales of such products slumping and was careful not to launch any new varieties of these products for a while. Which of the following best describes Nabisco's action?

Environmental analysis

Of all the federal regulatory units, the ____ most heavily influences marketing activities.

Federal Trade Commission (FTC)

Companies delivering mixed concrete know that it cannot be shipped farther than twenty-five miles because the concrete might harden in the truck. Citrus County Concrete Company is the only supplier of mixed concrete to customers within a thirty-mile radius. Citrus County Concrete is an example of which one of the following competitive structures?

Monopoly

Which of the following is not a component of a marketing plan?

Product

Which of the following statements about social responsibility is correct?

Social responsibility refers to a company's obligation to maximize its positive impact and minimize its negative impact on society.

When Disney World wants to have at least 90 percent of its customers indicating they had a memorable and satisfying experience at the park hotels, this is an example of

a marketing objective

When a purchasing agent for Intel is offered a bribe by a silicon manufacturer salesperson,

a promotion-related ethical issue has been created.

Kelsey thinks she will be able to get the highest quality of responses concerning the product features most sought by consumers through personal interviews. She decides to conduct her interviews at ____ because this is the most common location for personal interviews.

a shopping mall

The marketing plan is

a written document detailing activities to be performed to implement and control marketing actions.

A marketing ethics issue likely exists when

an individual or organization must choose from among several actions that must be evaluated as right or wrong.

The tobacco industry in the United States is dominated by three large companies. When any one of these companies changes its price on tobacco products, the other two companies quickly adjust their prices to match it. From these characteristics, the tobacco industry could best be described as

an oligopoly.

Ethical standards for acceptable conduct for a company should

be based on company, industry, government, customer, and society viewpoints.

The definition of marketing implies that ____ should receive benefits from exchange relationships.

both customers and businesses

Rollins Steel Corporation, a leader in industrial supplies, has identified its auto battery unit as having a dominant market share; however, it has low prospects for growth. The unit currently generates more cash for Rollins Steel than is required to maintain its market share. According to the Boston Consulting Group, the auto battery unit would be classified as a _____

cash cow.

Amazon's pricing, service, and continuing investment in improving its website with additional product offerings give it a(n) ____ over many other retailers.

competitive advantage

Research designed to verify insights through an objective procedure to help marketers make decisions is called

conclusive.

In a classroom discussion, Jacob agrees with Marcie that consumers generally want biodegradable beverage cups. However, he says that businesses in that industry must evaluate whether

consumers are willing to pay higher prices for them.

Apple has made a success from anticipating what consumers would want in new technological advances, convenience, and ease of use. The introduction of the iPad was an example of a _____ for Apple, something that an organization does extremely well and may give a company an advantage over its competition.

core competency

Long-term relationships with profitable customers is the key objective of

customer relationship management.

The focal point of all marketing activities is

customers.

Consumer confidence is at a low during periods of

depression.

Which category of income are marketers most interested in?

disposable income

Issues of inventory levels and storage costs are both concerns relating to the ____ variable of the marketing mix.

distribution

SiriusXM Radio is concerned about how the increasing use of smart phones will affect the future sales of its satellite radio service. The company decides to gather information about the changing trends in music access and delivery to prepare for this trend. Sirius XM's process is called

environmental scanning.

Product-related ethical issues arise when marketers

fail to disclose information to consumers about the risks associated with using a product

Compared to a mail survey, telephone surveys have

higher response rates, but higher costs

Realizing an increase in both the number of consumers who are environmentally-conscious and the number of consumers who are seeking vehicles that use less gasoline, several car manufacturers have developed hybrid automobiles. This is an example of identifying and capitalizing on a ____ while the strategic window is open.

market opportunity

Wonder 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, Wonder was most likely following the ________.

marketing concept

Marketing research is a process designed to gather information

not currently available to decision makers.

As a firm fulfills its basic economic responsibilities, it must simultaneously

obey laws and regulations.

For most firms, the costs of marketing activities consume approximately what portion of the consumer's dollar?

one-half

Since most ethical choices pertaining to marketing decisions are jointly made, an organization must ensure the ____ reflects the organization's values, beliefs and norms.

organizational or corporate culture

The forces of the marketing environment include

political, legal and regulatory, sociocultural, technological, economic, and competitive.

Data that are observed or collected directly from respondents are called

primary data

Georgia-Pacific needs information about trends in housing starts and remodeling around the country. Since it will be difficult to collect _______ from the numerous locations, it decides to use _____ data from the U.S. Department of Commerce reports to get this information.

primary; secondary

Assuming that inflation is low, high buying power characterizes the ____ stage of the business cycle.

prosperity

Marketing ethics

refers to principles and standards that define acceptable conduct in marketing.

The final step in the marketing research process is

reporting the research findings.

Kristen is the new marketing manager for the footwear division of her company and is currently planning next season's product lines. She needs to gain access to data about recent purchasing patterns in the industry, but has a limited budget and time. Which type of data would be the best choice for Kristen to use in this situation?

secondary data

The Pharmaceutical Research and Manufacturers of America sets guidelines for its member firms to follow regarding the use of unethical practices. Thus, it is engaging in

self-regulation.

The three basic forms that a product can take are

services, ideas, and goods.

The Texas Pitt Barbecue Corporation has conducted a SWOT analysis of its competition, and sees a marketing opportunity for its new Texas Pit Barbecue restaurant. It has developed its marketing plan to include the type of products it will sell, the location for the restaurant, and the pricing it will use. Their plan includes a marketing objective to make a profit of 5% the first year of operation. So far, the owners of the restaurant have eliminated a key piece of the marketing plan, which is ____.

specifying how they will achieve their marketing objective

An analysis of ____ examines internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets.

strengths and weaknesses

StarKist Tuna has frequently extolled its dolphin-safe methods of catching tuna. This is an example of

sustainability marketing.

Because of its highly efficient and low-cost distribution system, Walmart has a ____ advantage over Kmart.

sustainable competitive

Kashi Heart to Heart cereal is aimed at people concerned about their heart health. These people represent the Kashi

target market

The major disadvantage of a mail survey versus a telephone or personal survey is

the failure of respondents to return the questionnaire.

The primary value that a marketer expects to receive from a customer in an exchange relationship is

the price charged for the product.

All of the following are steps in the marketing research process except

understanding your customer.