Bus 300
How does a microblog differ from a traditional blog?
A microblog is smaller in size—short sentences, short videos, or individual images—whereas a traditional blog is typically longer.
Which of the following is the best example of conscious marketing affecting the marketplace?
An industry leader adopts environmentally friendly production practices and other companies in the industry follow suit.
Which of the following social media outlets would fall under the category of "thought-sharing sites"?
Anthropologie's blogs
Your text describes the macroenvironmental factors that operate in the external environment by which acronym?
CDSTEP
The primary strength of Pepsi is the manufacture, distribution, and promotion of carbonated beverages. These describe which factor of a Pepsi consumer's immediate environment?
Company capabilities
Which of the following is not a metric used by social media marketers to analyze data collected from social media?
Cookie tracking
A person who has downloaded the Weather Channel app on his or her smartphone to get up-to-the-minute weather information is attempting to fulfill which primary motivation for using a mobile app?
Discovery
When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in ________ marketing.
B2B
Which of the following is an accurate statement about corporate social responsibility?
When marketers work in controversial or polluting industries such as tobacco or fossil fuels, their central activities largely bar them from becoming conscious marketers.
Which of the following is one of the core practices among value-oriented marketers?
constantly measuring the benefits that customers receive against the costs of offerings
A business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty among the firm's most valued customers is known as
customer relationship management.
The ________ addresses how a product will be designed, how much it should cost, how it will be promoted, and how it will get to consumers.
marketing plan
During the last couple of decades, it has become important for value-oriented marketers to ________ with customers.
move toward a relational perspective from a transactional orientation
Understanding consumers' ________ is fundamental to marketing success.
needs and wants
Redbox uses the ________ element of the marketing mix to make movie rentals available for customers when and where they need them.
place
Netflix uses __________ analytics to suggest which movies we should watch as well as to develop new content that it is confident we will like.
predictive
When marketers communicate the value proposition, it involves the ________ element of the marketing mix.
promotion
Crest toothpaste targets different consumer ________ by offering different types of toothpaste for smokers than it does for children based on their differing needs and wants.
segments
In China, the app Weixin allows users to send videos, photos, messages, web links, status updates, and news. This app meets people's need to
socialize
Firms that are ________ recognize that including a strong social orientation in business is a sound strategy that is in the best interest of both the firm and its customers.
socially responsible
Through its Facebook page, a major restaurant chain is offering its customers a coupon for 50 percent off the purchase of a meal. In doing so, the restaurant is focusing on which aspect of the 4E framework?
Exciting
The ________ prohibited the manufacture or sale of adulterated or fraudulently labeled food and drug products.
Federal Food and Drug Act
Apple's iPad is an example of which of the following types of marketing offerings?
Goods
Which of the following frameworks for analysis is comprised of a company's capabilities, competitors, and corporate partners?
Immediate environment
Which of the following is true of business ethics?
It examines ethical rules and principles within a commercial context.
When a firm evaluates how other companies react to the firm's marketing activities, it is attempting to understand what aspect of the immediate environment?
Its competitors
The company that you work for, Mystical Jewelry, wants to analyze data that come from other sites, such as measuring where people have come from to get to Mystical's site. What would you recommend that your company use to determine how people searched the Internet to find its products?
Keyword analysis
Which of the following accurately depicts the three-stage social media engagement process?
Listen, analyze, do
To ensure that conscious marketing is infused into all levels of the firm, it can be integrated into
each stage of the marketing plan
In terms of the 4E framework, a company that utilizes a media-sharing site such as YouTube does so to help consumers
experience the company's goods or services
Frito-Lay's SunChips line of snack foods uses solar power at one of its eight production facilities to harness the sun's energy to produce its products. This is an example of consumer demand for _________ products.
green-oriented
The social trend of ________ is causing consumers to question whether or not firms are truly operating with consideration for the environment or simply changing marketing efforts in order to appear that they are.
greener consumers
Firms that disingenuously market products as environmentally friendly with the goal of gaining public approval and sales, rather than actually improving the environment, are guilty of
greenwashing.
Which of the following is one of the major considerations involved when a company develops its marketing strategy?
identification of target markets Developing a marketing strategy involves a thoughtful coordination of efforts centering on identifying target markets, developing an appropriate marketing mix, and determining the bases for building and maintaining a sustainable competitive advantage.
When firms are applying an ethical framework for making decisions in a questionable situation, the first step is to
identify issues
The cost of borrowing money is measured by
interest rates.
Josie feels pressure to increase sales, so she decides to purposely mark up the price on a new shipment of sweaters and then immediately put them on sale. Even though she is deceiving the customer, Josie justifies her decision by knowing that management will be pleased with the increase in revenue. However, Josie's decision may have serious consequences for the company in the long term. What does your text suggest as a way to avoid the consequences that can result from such behavior
making sure the short-term goals of each employee are aligned with the long-term goals of the firm
Marriott Hotels recognizes that there are different groups of travelers with different needs, wants, and characteristics in their choice of lodging. The process of dividing Marriott's market into these various groups is
market segmentation
Kroger collects massive amounts of data about how, when, why, where, and what people buy, and then analyzes those data to better serve its customers. This refers to
marketing analytics
A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected income statements is referred to as a(n)
marketing plan A written marketing plan provides a reference point for evaluating whether or not the firm has met its objectives.
In using the ethical decision-making framework, a firm should consider the impact of its actions on its employees, suppliers, and customers—otherwise known as the firm's
stakeholders
The Goodyear Tire Company is organized by regions: North America, Europe, Middle East and Africa, Latin America, and Asia Pacific. These divisions of Goodyear are called
strategic business units Each division of Goodyear, which is organized by region, comprises a strategic business unit of the company , or SBU.
When companies work collaboratively to buy and sell, transport, and store merchandise through a channel of distribution, it involves the entire ________ for goods and services.
supply chain
Rather than being just a random activity, good marketing requires ________ in determining appropriate actions to produce sound decisions.
thoughtful planning
What is the objective of the last step in the ethical decision-making framework?
to weigh the various alternatives and choose a course of action
As stated in your text, economic, social, and environmental performance refer to the
triple bottom line
A local coffee shop is known for poor customer service and an unclean, dirty environment. These factors would be classified as ________ in a SWOT analysis.
weaknesses Negative attributes of a firm, such as a poor customer service and an unclean environment, are considered weaknesses of a firm.
A person who wishes to fulfill the need for "me time" would most likely download which of the following apps?
Netflix
According to your text, which of the following can be said regarding the use of social media in advertising?
Only 20 percent of the world's population uses Facebook—which means 80 percent still has not signed up.
Showrooming is associated with apps designed to fulfill which primary motivation?
Shop
A SWOT analysis involves an analysis of factors internal to the company, which include ________, as well as factors outside the company, which include ________.
Strengths and Weaknesses; Opportunities and Threats A SWOT analysis involves an objective assessment of a firm's internal factors (strengths and weaknesses) as well as those external to the firm (opportunities and threats) to provide a snapshot of the firm's current situation.
An individual who uses his or her smartphone to play Candy Crush Saga is fulfilling which of the seven primary motivations for mobile app usage?
"Me time"
By 2050, minorities will represent about _____ percent of the population, and nearly _____ percent of the population will be Hispanic.
50; 30
The ability of marketers to use wifi, mobile hotspots, 4G, and LTE to more effectively target and reach their customers is an example of which macroenvironmental factor?
Technological advances
In the immediate environment, what is the first factor that affects the consumer?
The company itself
Which of the following represents the best approach for a firm to take regarding ethics and social responsibility?
The firm should implement programs that are socially responsible and employees should act in an ethically responsible manner.
Which of the following statements regarding the development and implementation of a social media marketing campaign is true?
The images and messages used in a social media marketing campaign need to be updated almost constantly.
Which of the following statements is accurate?
To align personal and corporate goals, firms need to have a strong ethical climate exemplified by the actions of corporate leaders and filtered through an ethically based corporate culture.
The goal of a marketing exchange is that the parties to the transaction be
satisfied
________ is concerned with distinguishing between right and wrong actions and decisions that arise in a business setting.
Business ethics
According to the BCG matrix, which type of product typically has excess resources that can be used to support other products that need additional resources?
Cash Cows Cash cows have already received heavy investments to develop their high market share. Thus, they typically have excess resources that can be spun off to other products.
Companies must deliver more value and satisfaction to target consumers than its competitors to gain a
Competitive Advantage Delivering greater value to consumers is central to developing a competitive advantage. This requires that companies sustain their advantage over time, minimize competitive pressure, and boost profits in the long term to remain viable in a highly competitive marketplace.
The SWOT analysis is typically conducted during which of the following steps in the marketing planning process?
Conducting a situation analysis The second step in the marketing planning process, conducting a situation analysis, often incorporates the use of a SWOT analysis.
________ is (are) at the center of the marketing environment.
Consumers
During which phase of the strategic marketing planning process are managers evaluated on their actions from a conscious marketing perspective?
Control
Which of the following analytics is used to measure sales, downloads, video plays, or other actions important to a firm?
Conversion
Singapore Airlines is recognized as an industry leader for exemplary customer service, and has continued to add new ways to serve customers better than competitors. In doing so, it has focused on sustaining its competitive advantage through ________ excellence.
Customer Customer excellence is one of the macro strategies available to companies to develop a sustainable competitive advantage in the marketplace. Marketers like Singapore Airlines position themselves as leaders in customer service by continually investing in innovations to enhance the levels of service to their customers.
What is the fourth step involved in developing and implementing a social media marketing campaign?
Develop the budget
While shopping online for gardening supplies, Lana visits a website she had heard advertised on Home and Garden Television (HGTV). Although she was not familiar with this particular firm, upon entering its website, Lana was able to learn about the company's value proposition as well as the benefits of their products. As a result, she decided to try out one of the company's most popular products. Which aspect of the 4E framework does this represent?
Educate the customer
Which of the following accurately depicts the activities included in the 4E framework for social media?
Excite, educate, experience, engage
Being able to download a chapter of a new book before buying it or listening to a few seconds of a song before purchasing it are examples of which aspect of the 4E framework?
Experience the product
Which of the following social networking sites has more than 1.5 billion monthly active users?
Which of the following is a marketing metric that might be used to evaluate the performance of a company's implementation of its marketing plan?
GM (gross margin) The final step in the planning process involves evaluating performance using marketing metrics, such as sales, gross margin, and return on investment in order to compare a firm's performance over time to that of competing firms.
________, also known as Millennials, constitutes more than 60 million members in the United States alone who were born between 1977 and 2000.
Generation Y
Which group of consumers in the United States has an increasing influence on mainstream U.S. culture with buying power that was projected to reach $1.3 trillion in 2015?
Hispanic
All of the following questions might be used on an ethical decision-making metric except
How much money could I make from this action?
Vashon, a manager at a marketing research firm, is trying to determine if his firm was acting ethically when it conducted its latest study. In doing so, he is evaluating whether or not the research respondents were told the real purpose of the study before proceeding. This involves which step of the ethical decision-making framework?
Identifying issues
Which of the following is true regarding corporate social responsibility?
It is often grafted on to a traditional business model, usually as a separate department or part of PR.
Culture, demographics, social issues, technological advances, economic situations, and the political/regulatory environment are all factors that make up which of the following frameworks of analysis?
Macroenvironmental factors
In an attempt to increase sales during a lagging economy, Macy's has increased its advertising and sales promotions for its current products to stimulate sales in its current markets. Which growth strategy is Macy's employing?
Market Penetration According to the market/product and services strategies matrix, by definition, firms that exploit growth opportunities for current products in current markets are engaged in market penetration. Market penetration typically involves increasing advertising expenditures and sales promotion efforts.
Toothpaste manufacturers understand that consumers have different needs when it comes to toothpaste (i.e., teeth whitening, sensitive teeth, breath freshening, and tartar control). Knowing that, they have divided the market based on these various needs and developed toothpaste to accommodate each group. By doing so, these toothpaste manufacturers are involved in
Market Segmentation Market Segmentation is the process of dividing the market into groups of consumers with different needs, wants and characteristics for the purpose of developing products and services geared specifically for them.
Honda marketed its CR-Z hybrid model to a distinct segment of consumers as a fun, green, sporty hybrid that stands out as being uniquely different from other hybrid models. This is an example of which of the following?
Market positioning Honda has implemented this market positioning by defining the marketing mix for the CR-Z so that target customers have a clear, distinctive, desirable understanding of what the product uniquely represents in comparison to competing hybrid models.
To evaluate the effectiveness or performance of a marketing strategy, firms typically use
Marketing Metrics The final step in the planning process involves evaluating performance using marketing metrics such as sales, profits, gross margin, and return on investment in order to compare a firm's performance over time to that of competing firms.
Which marketing mix element deals specifically with retailing and marketing channel management?
Place
When marketers make their offering available when and where the customer wants it, which of the following elements of the marketing mix is involved?
Place After a firm has created value through a product and/or service, it uses the marketing mix variable—place—to make the product or service readily accessible to the customer when and where he or she wants it.
Burt's Bees mission statement to "create natural, Earth-friendly personal care products formulated to help you maximize your well-being and that of the world around you," was prepared during which phase of the strategic marketing planning process?
Planning
In which phase of the strategic marketing planning process does the firm decide what level of commitment to its ethical policies and standards it is willing to declare publicly?
Planning
Which of the following represents the three major phases of a marketing plan?
Planning, Implementation, and Control
Which of the following is a macroenvironmental factor included in the CDSTEP acronym?
Political/regulatory environment
Which of the following marketing mix variables is involved in the capture of value in the marketing exchange?
Price
Which of the marketing mix elements corresponds to what the buyer gives up in the marketing exchange?
Price
A firm that creates value by developing a variety of offerings including goods, services, and ideas is doing so through which element of the four Ps?
Product
The objective of the last step of the ethical decision-making framework is to weigh various alternatives and choose the most appropriate action to take. What action should be taken if the marketer is not confident about that decision?
Reexamine other alternatives
What two metrics are used in the Boston Consulting Group (BCG) portfolio analysis to evaluate the various products of a firm?
Relative market share and market growth rate
Which of the following is not a demographic listed in your text that would typically be used to identify consumer markets?
Religion
Broadly defined, ________ is (are) the shared meanings, beliefs, morals, values, and customs of a group of people.
culture
If a firm takes voluntary actions to address the ethical, social, and environmental impacts of its business operations, it is involved in
corporate social responsibility
Although Starbucks, Dunkin' Donuts, and McDonald's all strive to provide a good cup of coffee and pastries to their respective target markets, the difference in who they target, how they design their marketing mix, and what they choose as the basis of building their competitive advantage is directly related to their own
marketing strategy To the casual observer, all three of these companies might appear to be marketing the same products, but closer analysis reveals that each of them targets a different market—with a completely different marketing mix, in order to gain a competitive advantage, which corresponds to a unique marketing strategy.
A ________ is a measuring system that quantifies a trend, dynamic, or characteristic and is used by marketers to help explain why things happened and also to predict the future.
metric Marketing metrics make it possible to compare results across regions, strategic business units (SBUs), product lines, and time periods. By using metrics, the firm can determine why it achieved or did not achieve its performance goals.
To get customers excited about a social media-related offer, the offer must be
relevant and aimed at a target audience