Business Final
Which of the following could a retailer use to determine which of two different marketing messages generates the most sales?
A/B test
Malaysia, Indonesia, Singapore, Thailand, and Cambodia are all members of ________
ASEAN
Which of the following statements about advertising is true?
Advertising can be used to establish and reinforce a distinctive brand identity.
Which of the following is the first step a firm should take when deciding whether or not to go global?
Analyze whether it is in the firm's best interest to focus on the domestic market or to expand to international markets.
________ are statistics that measure aspects of population, such as size, age, and gender.
Demographics
An ad for a new Dior fragrance featuring Natalie Portman appeared in Vogue magazine. In terms of the communication model, the source of this ad is ________.
Dior
________ income is the amount of money an individual has left to spend after paying for necessities such as housing, utilities, food, and clothing.
Discretionary
________ strategies emphasize both new products and new markets to achieve growth
Diversification
________ involves a retailer buying a product at a discounted promotional price, warehousing it, and after the promotion has expired, selling the inventory to other retailers at a price that is lower than the manufacturer's nondiscounted price but high enough to turn a profit for the retailer
Diverting
Which of the following questions should marketers first answer when they are determining their research design?
Does the information we need already exist?
Which of the following is true about a probability sample
Each member of the population has some known chance of being included in the sample
Which of the following is NOT among the ethical values identified in the American Marketing Association's Ethical Norms and Values for Marketers
Equality
________ occurs when someone in authority extracts payment under duress.
Extortion
The ________, a U.S. regulatory agency, regulates telephone, radio, television, and the use of the Internet.
Federal Communications Commission
_______ do not vary with the number of units produced
Fixed cost
The ________, a U.S. regulatory agency, enforces laws and regulations on foods, drugs, cosmetics, and veterinary products
Food and Drug Administration
________ utility is the benefit marketing provides by transforming raw materials into finished products, as when a dress manufacturer combines silk, thread, and a zipper to create a bridesmaid's gown.
Form
________ involves a channel member purchasing large quantities of a product during a discount period, warehousing the product, and not buying the product again until another discount is offered.
Forward buying
The group of American consumers born after 1994 is often called ________.
Generation Z
A building supply company has many high-volume customers and many low-volume customers. A CRM system would be LEAST likely to help management decide to use which of the following methods for communicating with low-volume customers?
Have a sales representative make a personal one-on-one appointment with every low-volume customer at least twice a month.
According to the law of demand, which of the following is true?
If prices decrease, customers will buy more.
Which of the following is a question that a marketing manager would use an MDSS rather than an MIS to answer?
If we change our media schedule by replacing a certain media buy with a new media buy, will we reach more users of our product?
Which of the following best explains the difference between data and information?
Information is more structured and organized than data.
________ is the step of the decision-making process in which the consumer checks her memory and surveys the environment to identify what options might solve her problem
Information search
________ is a strategic business process that marketers use to plan, develop, execute, and evaluate coordinated, measurable, persuasive brand communication programs over time to targeted audiences
Integrated marketing communications (IMC)
Which of the following is true about the market entry strategy of direct investment?
It allows a foreign firm to take advantage of a domestic company's political savvy and market position.
What is a major drawback of probability sampling?
It can be time consuming
In most cases, which of the following is true about a least developed country (LDC)?
It has an economy based on agriculture
Which of the following is true about functional planning
It is conducted by the various functional areas of a firm.
Which of the following is true of advocacy advertising?
It is intended to influence public opinion.
One objective of a small regional marketer of office supplies is to enter new markets. Which of the following most accurately identifies a weakness of this objective?
It is not specific.
Which of the following is true of Web 2.0?
It offered two-way communication between marketers and consumers.
Which of the following is true of institutional advertising?
It promotes the activities or point of view of an organization.
Which of the following is NOT true about the message in the communication model?
It will be understood in the same way by all receivers.
Prep for Success is an educational services company that specializes in preparing students for selective private school entrance exams. Prep for Success sends information about its services to consumers who have purchased school supplies such as backpacks and lunchboxes online and live in a community with an average household income of above $85,000 per year. This is an example of a company using ________ to identify and contact potential customer
Big Data
Which of the following countries is NOT a member of MERCOSUR?
Bolivia
________ occurs when someone voluntarily offers payment to get an illegal advantage.
Bribery
Which of the following is true about business planning?
Business planning is an ongoing process
_______ marketing is the marketing of goods and services from organizations for purposes other than personal consumption.
Business-to-business
CHAPTER 13
CHAPTER 13
CHAPTER 5
CHAPTER 5
CHAPTER 6
CHAPTER 6
The dentist's office calling to remind you of your scheduled appointment for the next day is an example of ________.
CRM
Which of the following statements about the lifetime value of a customer is true?
CRM helps companies identify their customers' lifetime value.
Which of the following statements about CRM programs is true?
CRM programs include information gathered from each customer touchpoint.
Which of the following is a common objection to relying exclusively on ROMI for measuring marketing success
Calculating ROMI requires knowing what would have happened if the marketing expenditures had never taken place
Which of the following is NOT among the largest of the world's developing countries
Canada
CHAPTER 3
Chapter 3
The owner of a pet grooming salon wants to calculate customer equity. Which of the following is a step the owner of this pet grooming salon should complete?
Compare investments made by the salon owner in acquiring the customer to the total amount of purchases made by the customer
Which of the following is true about unstructured data?
Computer logic programs can identify and extract patterns in it
________ are the tangible products that individuals purchase for personal or family use
Consumer goods
When Tony rented a loft apartment where he would live for the summer, he acted as a ________.
Consumers
________ is the formal process of monitoring progress toward meeting marketing objectives
Control
________ are a method for tracking what computer users do at various websites and which sites they visit.
Cookies
________ are the most common price promotion.
Coupons
________ is research a single firm conducts to provide answers to specific questions. A) Syndicated research
Custom research
________ is the financial value of a customer throughout the lifetime of the customer relationship
Customer equity
________ refers to the collection, deployment, and interpretation of information that allows a business to acquire, develop, and retain customers.
Customer insights
________ is a network of servers, all having different functions, providing an almost infinite amount of storage space.
The Cloud
________ is a term that refers to a system in which everyday objects are able to communicate information throughout an interconnected system.
The Internet of Things
U-Frame-It is a small company that has hired a local ad agency to put together an advertising campaign. Which of the following questions should be addressed before the others?
What are the message objectives of U-Frame-It?
Which of the following advertising situations would LEAST likely be considered puffery?
a retired couple drinking a vitamin and protein shake and then going bicycling
To determine what type of information to add to its Web site in order to attract more visitors, an Internet company could look at a survey by the AOL/Roper Starch Cyberstudy, which showed the primary activities Americans are most likely to engage in when surfing the Internet. This study is an example of ________
a secondary data source
In which kind of market would a production orientation be most successful?
a seller's market in which demand is greater than supply
Which of the following is LEAST likely to be of growing importance in marketing in the near future
a selling orientation
In general, a research report will NOT include ________.
a situation analysis
Which of the following is NOT an example of a secondary data source for a company researching whether it should open a casino near St. Louis, Missouri?
a survey commissioned by the company asking St. Louis residents about their gambling habits
Advertising account managers are typically responsible for which of the following?
acting as liaison between the agency and client
Assignment of responsibilities, time lines, budgets, and measurement and control processes are documented in a(n) ________.
action plan
Which of the following is defined as nonpersonal communication paid for by an identified sponsor using mass media?
advertising
With which type of marketing communication does the marketer have the greatest level of control over the message?
advertising
With which type of marketing communication does the marketer have the greatest level of control over the message
advertising
A(n) ________ is a coordinated, comprehensive plan that carries out promotion objectives and results in a series of advertisements placed in various media over a period of time.
advertising campaign
Which of the following is a technique for measuring the impact of an advertisement during the final step of developing an advertising campaign?
aided recall
Analysts use ________ to comb through vast amounts of data to find hidden patterns and determine how to use those patterns.
algorithms
The first phase of market planning is to ________.
analyze the marketing environment
Product tampering and spray-painting graffiti on buildings are both examples of ________
anticonsumption
An ad for a new Dior fragrance featuring Natalie Portman appeared in Vogue magazine. In terms of the communication model, the source of this ad is ________.
are representatives of the source
In terms of the communication model, the animated M&M candies in television commercials ________.
are representatives of the source
Effective objectives should be all of the following EXCEPT which one of the following?
aspirational
The second step in strategic planning is to ________.
assess the organization's internal and external environments
Strategic planning for a large firm such as Disney with several SBUs probably occurs ________
at both the overall corporate level and at the individual SBU level
For an exchange to occur, _______
at least two people or organizations must be willing to make a trade, and each must have something the other want
The ________ step in the hierarchy of effects calls for marketers to inform the target market that there is a new brand on the market, often by using simple, repetitive advertising in a variety of media.
awareness
A maker of cash registers had to develop hand-crank-operated cash registers to sell to Latin American and African markets where access to reliable electricity is limited. The company used a ________ strategy to enter those global markets
backward invention
A ________ delivered by a product is the outcome that motivates a customer's buying behavior
benefit
Marketers use the metric of ________ to see how engaging a website is to visitors in terms of the extent to which visitors explore it.
bounce rate
Planet Fitness and Gold's Gym engage in ________ competition when they both try to attract customers to buy their fitness center services
brand
Product placements in television programs and movies are examples of ________
branded entertainment
When the makers of a ballpoint pen state they are in the communication equipment business, they are defining their mission too ________.
broadly
Which of the following is the last step in the hierarchy of effects?
build loyalty
A data scientist is also known as a(n) ________
business intelligence developer
John H. Harland Company is a large company with 5,200 employees and almost $800 million in annual sales. The company is best known for printing personal and business checks. Harland Analytical Services is a technology company that produces software that enables banks to gauge the behavior of their customers by tracking their spending habits. In addition, Harland owns Scantron, a computerized testing and assessment company. The ________ for John H. Harland Company includes its check-printing business, its financial software business, and its testing and assessment business.
business portfolio
________ means developing a marketing strategy aimed at influencing how a particular market segment perceives a good or service in comparison to the competition
cannibalization
An office supply store that pays a discounted price when it orders more than 12 metal filing cabinets is receiving a(n) ________.
case allowance
Which of the following is a discount to the retailer or wholesaler based on the volume of product ordered?
case allowance
A company did a comprehensive examination of how pit crews in an auto race work to quickly get a racecar into the pit area, gas the car, perform other maintenance, and get the car back on the track. The company wanted to see if it could adapt some of the teamwork techniques used by pit crews to speed up its order processing. The company conducted a(n) ________
case study
A(n) ________ is a comprehensive examination of a particular firm or organization
case study
A media company has a high market share in the cassette tape market. The cassette tape market has low growth potential. This business fits into the ________ category of the BCG growth-market share matrix.
cash cow
An SBU fits into the ________ category of the BCG model when sales have been steady and the firm has a large market share it can sustain with minimal funding.
cash cow
Argo is the world's leading brand of small vehicles that are designed to be driven on all types of terrain and in all types of weather. The vehicles can carry up to six passengers. The market for such vehicles is no longer growing due to the recent economic downturn. In terms of the BCG growth-market share matrix, Argo would be classified as a ________.
cash cow
Marketers use ________ when they want to determine if a change in one thing is responsible for a change in something else
causal research
Which of the following is NOT considered a source of market intelligence?
causal research
Advertising, sales promotion, public relations, and buzz building activities are all ________
channels that should be integrated under the concept of integrated marketing communications
CHAPTER 2
chapter 2
CHAPTER 4
chapter 4
Which of the following is a measure of the percentage of customers who defect over a given period of time?
churn rate
Puffery is a term for a(n)________.
claim of superiority that cannot be proven or disproven
The first step in the market research process is to ________
clearly understand the information needed by managers
The first step in the market research process is to ________.
clearly understand the information needed by managers
Marketers use the metric of ________ to understand where web traffic is coming from and which marketing investments are generating enough interest in users to get them to follow a link to a product webpage.
click-through rate
Susannah owns a one-bedroom apartment in Manhattan that she posts for short-term weekend and summer rentals on Craigslist when she plans to be out of town. This is an example of ________.
collaborative consumption
The trend of consumers renting out their belongings when they are not in use to other consumers who need them for a limited time is called ________.
collaborative consumption
Which of the following best explains the goal of neuromarketing?
collecting data about responses to advertising and products by measuring consumers' brain activity
In a(n) ________ culture, people tend to subordinate their personal goals to those of a stable community
collectivist
Scanner data is an example of a ________ source of Big Data.
commercial entity
The marketing team at Connected.com, a social networking site aimed at connecting job seekers with employers, must decide how much to charge for different levels of membership and access to those using the site. Using which ethical philosophy would they make their decision based on best serving the needs of the whole community of users even if it means treating some users unequally?
common good approach
Avis positioned itself against market-leading Hertz by claiming, "We're number two, so we try harder." This is an example of ________.
comparative advertising
Through ________ activities, a firm gathers and analyzes publicly available information about rivals.
competitive intelligence
Which of the following is NOT one of the four main applications of data mining for marketers
competitive intelligence
A questionnaire that asks respondents whether they "strongly agree," "somewhat agree," "somewhat disagree," or "strongly disagree" is most likely a(n) ________.
completely structured questionnaire
Which of the following has limited the practice of reality mining?
concerns about reactions to privacy infringement
Once a company has conducted exploratory research and reviewed the resulting data, its next step is most likely which of the following?
conduct descriptive research
The product alternatives a customer seriously considers are referred to as the ________.
consideration set
A ________ is the ultimate user of a good or service
consumer
A ________ orientation is a management philosophy that focuses on ways to satisfy customers' needs and want
consumer
Alcoholism and cigarette smoking are both examples of ________.
consumer addictions
The process that individuals or groups go through to select, purchase, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires is known as ________.
consumer behavior
Kao Corp., which makes Ban deodorant, invited teenage girls to create an ad that would encourage other girls to buy the product. This program is an example of ________.
consumer-generated content
CGM, which stands for ________, includes online consumer comments, discussions, reviews, photos, images, videos, podcasts, and webcasts.
consumer-generated media
The phenomenon of ________ includes consumers creating their own ads and buying and selling products on eBay
consumer-generated value
The total quality management (TQM) philosophy involves all employees in ________.
continuous product quality improvement
As a part of the ________ process of market planning, managers need to look carefully at why a company isn't meeting its objectives.
control
Which of the following is NOT an advantage of online questionnaires?
control over who respondents are
CRM and enterprise resource planning databases are examples of ________ sources of Big Data
corporate I.T
A real estate company places ads on a local newspaper's website. The real estate company pays the newspaper based on how many times readers of the newspaper's website select the ads and enter the real estate company's website. This is an example of ________ pricing.
cost per click
Through ________ pricing, a marketer pays for an advertisement based on the number of times users select the advertisement and are directed to the product's webpage
cost per click
Through ________ pricing, a marketer pays for an advertisement based on the number of times users select the advertisement and are directed to the product's webpage.
cost per click
A regional restaurant chain wants to place ads on a local newspaper's website. The marketing team at the restaurant chain knows from experience that about five percent of the people who see its ads on a newspaper's website will click on the ad to get more information or sign up for a promotion. Because the marketing team wants to keep the price of running the ads low, the restaurant chain will likely opt for ________ pricing.
cost per impression
Through ________ pricing, a marketer pays for an advertisement based on how many times an advertisement appears on a webpage viewed by users.
cost per impression
To compare the relative cost-effectiveness of different media and of spots run on different vehicles in the same medium, media planners use ________.
cost per thousand (CPM)
To determine the ________, marketers need to know the total advertising costs and the total number of purchases made.
cost-per-order
Azerbaijan imported wheat from Romania in exchange for crude oil and Vietnam exchanged rice for Philippine fertilizer and coconuts. Both scenarios are examples of which of the following?
countertrade
Trading firms that work out elaborate deals in which they trade or barter their products with one another or even supply goods in return for tax breaks from the local government are using ________.
countertrade
Marketers develop positioning strategies to ________.
create a desired perception of the product in consumers' minds in comparison to competitors' brands
Which of the following is NOT a step in the hierarchy of effects?
create demand
In which step of the hierarchy of effects would a marketer most likely use celebrity endorsements and status appeals?
create desire
Firms that have a triple-bottom-line orientation measure success by their financial successes, how they contribute to their communities, and how they ________.
create sustainable business practices
Firms that have a triple-bottom-line orientation measure success by their financial successes, how they contribute to their communities, and how they ________.
create sustainable business practices
The creative strategy for an advertising campaign is summarized in a(n) ________.
creative brief
An ad agency's copywriters are part of the agency's ________.
creative services
A survey questioned men and women to determine how each group felt about low-fat foods advertising on television. The results from male and female respondents were examined separately to see if their responses were different. The research results were analyzed using ________.
cross-tabulation
Every society has a set of deeply held beliefs about right and wrong ways to live, which are referred to as ________.
cultural values
Japanese who give currency as gifts will typically wash the money before making the presentation. This is a(n) ________ in a nation of people who place high importance on cleanliness.
custom
Marketing managers at a cosmetic company wanted to find out how resistant their product is to smudging. They hired a research firm to ask 293 women who were wearing the company's StayColor line of cosmetics to rub their cheeks against their shirts using "the pressure they use when caressing someone else's face." The company was conducting ________.
custom research
CRM firms focus on increasing their share of ________, not share of market.
customer
Companies are most likely to use data mining results identifying unprofitable customers for ________
customer abandonment
Through the data mining application of ________, marketers offer promotions to noncustomers who share demographic characteristics with current customers.
customer acquisition
To determine ________, firms compare the investments they make in acquiring and retaining customers to the financial return on those investments.
customer equity
The ________ is the potential profit generated by a single customer's purchase of a firm's products over the customer's lifetime
customer lifetime value
CRM stands for ________.
customer relationship management
Many marketing experts recommend ________ programs that allow a company to talk to individual customers and adjust elements of the marketing mix to satisfy the specific needs of each customer.
customer relationship management
Through the data mining application of ________, marketers identify big-spending customers and target them for special offers that other customers won't receive.
customer retention
A firm's internal business environment does NOT include its ________.
customers
A mission statement is a formal document that describes the organization's overall purpose and what it hopes to achieve in terms of its products, resources, and ________
customers
In one-to-one marketing, the final step is to ________.
customize some aspects of the products or services offered to each customer
Raw, unorganized facts that need to be processed are called ________.
data
The process through which analysts sift through massive amounts of available data to identify unique patterns of behavior among different customer groups is called ________.
data mining
To take advantage of the massive amount of data now available, a sophisticated analysis technique called ________ is becoming a priority for many firms.
data mining
A ________ is someone who searches through multiple, disparate data sources in order to discover insights that will provide a competitive advantage.
data scientist
A company that compiles and uses large amounts of data to understand its customers is likely to have a ________ to store and process its data.
data warehouse
Which of the following lists the three important components of a basic marketing information system (MIS)?
data, computer hardware and software, and output for marketing decision makers
Which of the following is the responsibility of an advertising agency's media planner?
deciding where, when, and how often an advertisement will appear
Management at Growing Green, a company that markets organic and environmentally friendly gardening and landscaping supplies and equipment, is evaluating the benefits and disadvantages of indirect exporting, direct exporting, and licensing. In which stage of the international marketing process is Growing Green?
deciding which market-entry strategy is best
The final stage in the product life cycle is ________.
decline
In terms of the communication model, ________ is the process whereby a receiver assigns meaning to a message
decoding
In terms of the communication model, ________ is the process whereby a receiver assigns meaning to a message.
decoding
The CEO, president, and top executive officers are responsible for ________ in the strategic plan.
defining the firm's purpose
Which of the following occurs when prices and the cost of living rise while money loses its purchasing power?
deflation
A customer's desire for a product coupled with the buying power or resources to obtain that product is called ________.
demand
Greg Williams now has the buying power to purchase the computer system he has wanted for the last six months. Greg's want has become a(n) ________.
demand
Through the U.S. Generalized System of Preferences (GSP), developing countries may export goods duty-free to the United States if they ________.
demonstrate progress toward improving the rights of their workers
After determining its communication objectives, the company's next step in developing a promotional plan is to ________.
determine its marketing communication budget
The second step of the marketing research process is to ________.
determine the research design
In the ________ stage of market planning, marketers must determine how they want consumers to think of their product in comparison to competing products
develop marketing strategies
In which step of the market planning process are decisions made concerning what markets to target and what marketing mix strategies to use?
develop marketing strategies
France, Italy, and Germany boast sophisticated marketing systems and are three good examples of ________.
developed countries
A(n) ________ provides reasons for customers to pay a premium for a firm's products and exhibit a strong brand preference.
differential benefit
The second step in developing a competitive advantage is to turn a distinctive competency into a ________ that is important to customers.
differential benefit
A firm's capability that is superior to that of its competition is referred to as a(n) ________.
distinctive competency
Many airlines now sell tickets almost exclusively through online third-party vendors. This is an example of a ________ strategy.
distribution
The ________ outlines how, when, and where the firm will make the product available to targeted customers.
distribution strategy
Fence Patrol has developed an entirely new mounting system for chain link fences. Although they are a local company, through the acquisition of a distributor they now have the ability to market their products nationwide. Fence Patrol will most likely use a ________ strategy.
diversification
When Coca-Cola purchased Culiangwang Beverages Holding Ltd, a company known for marketing multigrain health drinks, the company was pursuing a ________ strategy.
diversification
The market for two-way radios is disappearing. A company with a small share of the twoway radio market would be considered a ________ in terms of the BCG growth-market share matrix.
dog
According to the BCG growth-market share matrix, ________ are strategic business units with products that have a small share of a slow-growth market.
dogs
Ideally, market research should be ________.
done in an ongoing process
Mercedes was able to successfully introduce its C-Class car at $30,000 without injuring its ability to sell other Mercedes cars for $100,000 or more. Mercedes implemented a(n) ________.
downward line stretch
Many countries outlaw ________, a practice in which a company prices its products lower than they are priced at home.
dumping
Word of mouth or buzz on social media is also referred to as ________.
earned media
Marketers need to understand the ________ environment of a country from two perspectives: the overall level of development of a country and the current stage of its business cycle
economic
A(n) ________ is a group of countries that have agreed to coordinate trade policies and ease restrictions on the flow of products and capital across members' borders.
economic community
The measurable quality of a country's distribution, financial, and communication systems is referred to as the country's ________.
economic infrastructure
The population of Djibouti is approximately 830,000. To serve the communication needs of this nation, there are two FM radio stations, one AM radio stations, and one television station. There are only 22,000 telephone lines in the whole country. This is a partial description of Djibouti's ________.
economic infrastructure
A(n) ________ is an extreme quota that completely prohibits commerce and trade with a specific country
embargo
Using the method of ________, unstructured data such as social media posts can be categorized into a wide range of complex feelings and emotions
emotion analysis
According to the communication model, ________ is the process of translating an idea into a form of communication that will convey the desired meaning.
encoding
The decision to use a genie to communicate the strength and power of Mr. Clean cleaning liquid is representative of the ________ process of the communication model.
encoding
In which step of the hierarchy of effects would a marketer most likely rely on samples and coupons?
encourage purchase
A situation analysis is also known as a(n) ________.
environmental analysis
In firms with multiple SBUs, the first step in strategic planning is for top management to ________.
establish a mission for the entire corporation
Which of the following suggests that what is ethical in one culture is not necessarily ethical in another culture?
ethical relativism
U.S. marketing campaigns that stress the desirability of "Made in America" products are most likely to appeal to ________ U.S. consumers.
ethnocentric
Consumer ________ is the belief that the products made in one's own country are superior to those from other countries
ethnocentrism
Over the course of two weeks, a trained researcher visited a home with three preschool aged children every day to observe the children's bath time. This is an example of ________.
ethnography
Using ________, marketing researchers participate in real-life consumer activities to get an understanding of how consumers actually use products.
ethnography
Which of the following methods of gathering exploratory data was derived from anthropology?
ethnography
A consumer identifies evaluative criteria during the ________ step of the consumer decision making process
evaluation of alternatives
A consumer who is armed with information and is narrowing down his choices by comparing the pros and cons of each remaining option is in the ________ step of the consumer decision making process.
evaluation of alternatives
The product alternatives a customer knows about are referred to as the ________.
evoked set
A(n) ________ occurs when Kirin Albers trades Max Lynch three hours of babysitting Max's three-year-old daughter in exchange for Max fixing the hole in his porch roof
exchange
When a company begins marketing a new product line in addition to its existing product lines, it has done which of the following?
expanded the width of the product mix
Researchers design ________ to test predicted relationships among variables in a controlled environment.
experiments
A company utilized ________ when it asked consumers to indicate how they feel about panty hose.
exploratory research
Marketers would be most likely to use ________ to come up with ideas for new strategies and opportunities or to get a better understanding of a problem they are currently experiencing with a product
exploratory research
Which of the following is most likely to involve in-depth surveying or observation of a few consumers who fit the profile of the "typical" customer?
exploratory research
The ViVi brand is a line of designer clothing for pregnant businesswomen. If its owner believes that professional women in other countries have a need for conservative maternity wear, the owner of the small company would most likely hire a(n) ________ to locate and negotiate with buyers in other countries.
export merchant
All of the following are barriers to successful exporting EXCEPT ______
export merchants
A consumer purchase decision made with a great deal of consumer effort is a type of ________.
extended problem solving
A consumer who is considering purchasing a house would probably use ________.
extended problem solving
In recent years, security regulations enacted through the Transportation Safety Administration have affected Southwest Airlines. These regulations are part of the ________
external environment
While deciding whether or not to begin a construction project overseas, BuildBest learned that they would not be able to get permits for demolition until they paid a local city official a sizable fee in addition to the fees the city charges for the permit. This is an example of ________.
extortion
Which data collection method for marketing research is flexible, allows for explanation of difficult questions, and lends itself to showing products and other visual materials?
face-to-face interviewing
A ________ supplier pledges to pay producers in developing countries a price sufficient to ensure that the workers who produce the goods receive a fair wage and that the manufacturers use environmentally sustainable practices when possible
fair
Using which ethical philosophy would a marketer equally consider all concerned in making decisions?
fairness or justice approach
Chevrolet runs a promotion whereby consumers can redeem two free ski lift tickets at their local dealer through a test-drive promotion. According to the communication model, the people coming into the dealership to test-drive a vehicle are the ________.
feedback
In terms of the communication model, ________ is a reaction to a message that helps the source gauge the effectiveness of the message.
feedback
Which of the following is a media schedule of short, intense bursts alternating with periods of little to no activity?
flighting
Six women were invited to participate in a discussion on motels, hotels, and resorts. A discussion leader first asked them what differentiated motels, hotels, and resort accommodations. Then she asked them to identify all the amenities they expect to find in overnight accommodations. These six women and their group leader participated in a(n) ________.
focus group
The ________ is the price of a nation's currency in terms of another currency.
foreign exchange rate
A sign manufacturer who uses plastic, metal, and neon tubing to create a motel sign has performed the marketing benefit of creating ________ utility
form
There are ________ different types of SBUs represented within the BCG growth-market share matrix.
four
The Tim Hortons chain accounts for more than half of all the donut and coffee stores in Canada. The chain's red-and-white store banners are fixtures in many Canadian communities. In 2001, the first Tim Hortons appeared in the United States through a contractual agreement allowing an independent operation to adopt Tim Hortons' entire way of doing business. This agreement is an example of a(n)________.
franchise
A(n) ________ provides most or all of the services needed to mount an advertising campaign.
full-service agency
Vice presidents of large companies are typically in charge of ________ planning.
functional
Columbia Sportswear makes nylon activewear. Its marketing manager set a goal to increase sales 12 percent over the next three years through the introduction of a new line of comfortable, lightweight clothing for people who fish. The marketing manager is engaged in ________.
functional planning
Market planning is a type of ________.
functional planning
Focus groups have become one of the major market research tools for getting insight into consumer thoughts and feelings. However, a researcher relying solely on focus groups would likely be most concerned about which of the following?
generalizing the results to the rest of the population
Census data is an example of a ________ source of Big Data.
government
A ________ exists when an unauthorized party imports products and then sells them for a fraction of the price of authorized products.
gray market
BeneBag is a marketer of reusable shopping bags made 100% from recycled materials. The side of each BeneBag reads "Helping you do your part for Mother Earth." BeneBag is most likely trying to target which of the following
green customers
Consumers who are most likely to actively look for and buy products that are environmentally friendly are referred to as ________.
green customers
Which of the following refers to marketing strategies that support environmental stewardship by establishing an environmentally founded differential benefit in the minds of consumers?
green marketing
The most commonly used measure of a country's economic health is the country's ________
gross domestic product (GDP)
According to the theory of the wisdom of crowds, under the right circumstances ________.
groups are smarter than the smartest people in them
Which stage in the product life cycle is characterized by rapidly increasing sales and increasing profits?
growth
When using ________, a consumer exerts little effort in making a purchase decision
habitual decision making
Brand loyalty in the product choice step of the consumer decision-making process is an example of a ________.
heuristic
Consumers often rely on decision guidelines, or mental rules of thumb, when weighing the merits of competing brands. These rules are referred to as ________.
heuristics
The series of steps through which a marketer attempts to guide a consumer is called the ________.
hierarchy of effects
When companies calculate the lifetime value of a customer they look at ________.
how much profit they expect to make from a particular customer, including each and every purchase she will make from them now and in the future
Franchising is a form of ________.
icensing
A company's first step in one-to-one marketing should be to ________.
identify customers and get to know them in as much detail as possible
After marketing strategies are developed, the next step in market planning is ________. A) development of marketing objectives
implementation
Making adjustments to the marketing plan is part of which stage of market planning
implementation and control of the marketing plan
Which of the following provides marketers with the ability to identify where customers are and to deliver ads that are relevant to the customers' locations?
in-app advertising
A business plan ________.
includes the decisions that guide the entire organization or its business units
In causal research, factors that might be responsible for causing a change are called ________.
independent variables
In a(n) ________ culture, people tend to attach more importance to personal goals than to the needs of the larger community
individualist
Jack provides heating and air conditioning equipment for office buildings. He sells ________.
industrial goods
Interpreted data is ________.
information
Because of ________, it can be difficult to decide what data are useful and what data are not useful
information overload
An ad for Ford did not advertise any cars, but instead explained the meaning of the company's slogan, "no boundaries." This ad is an example of ________.
institutional advertising
Delia's is a clothing retailer that targets teenage girls. It runs coordinated promotions for its catalogs, its website, and its retail outlets. Delia's works to make sure its public relations activities as well as its sales promotions harmonize with its advertising in all venues. From this information, you can infer that Delia's is using ________.
integrated marketing communication
In a(n) ________, there is a two-way exchange of information between purchasing organizations
intelligent agent approach
Data such as which customers buy which products, which items the company has in stock, and when the company ships items to its customer are all examples of ________.
internal company data
A(n) ________ is an internal corporate communication network that uses Internet technology to link company departments, employees, and databases
intranet
Within a larger corporation, each SBU ________
is a separate profit center
Which of the following is a marketing metric used to provide insight into the performance of current marketing efforts so that adjustments can be made to improve performance?
leading indicators
Kyrgyzstan is a small mountainous country with a predominantly agricultural economy. Cotton, wool, and meat are the main agricultural products and exports. Thirty-four percent of the population lives below the poverty line. Kyrgyzstan is an example of a(n) ________.
least developed country (LDC)
The General Agreement on Tariffs and Trades (GATT) ________.
led to the creation of the WTO
When determining a country's ________, economists look at how the country is attempting to reduce poverty, inequality, and unemployment in addition to considering the country's GDP.
level of economic development
The consumer's ________ determines whether she will engage in habitual decision making, extended problem solving, or something in between the two.
level of involvement
In a ________, a firm gives another firm the right to produce and market its product in a specific country or region in return for royalties on goods sold.
licensing agreement
In the British Isles, Guinness brewery was given the right to produce and market Budweiser beer by Anheuser-Busch, its U.S. brand owner. Because Guinness pays Anheuser-Busch royalties for the use of its brand, this is an example of a(n) ________.
licensing agreement
After exporting, the next level of commitment a firm can make to a foreign market is a contractual agreement. Two of the most common types of such agreements are ________.
licensing and franchising
A purchase decision made with some but not extensive effort is classified as ________.
limited problem solving
The manufacturer's suggested retail price is also referred to as the ________.
list price
Which of the following is a form of protectionism?
local content rules
Which of the following would be the best medium for an advertisement encouraging customers to come to a local retailer's weekend sidewalk sale?
local newspaper
When considering the four Ps in international marketing, advocates of ________ focus on the unique characteristics of cultures and argue for products and promotional messages tailored to each culture.
localization
Which of the following is the trend of many shoppers actively looking for and purchasing food grown or raised within 50 to 100 miles of where they live?
locavorism
Descriptive research using a ________ design tracks the responses of the same sample of respondents over time
longitudinal
An example of a(n) ________ is an airline's practice of awarding customers points for miles traveled that can be turned in for free airline trips.
loyalty program
Of the following, which type of data collection method is likely to have the lowest response rate?
mail questionnaire
Which of the following data collection methods is generally the least flexible?
mail questionnaires
Marketers calculate the metric of ________ by dividing the number of visitors to a website who complete a desired activity by the total number of visitors to the site.
margin on sales
Marketers use the metric of ________ to inform how they price a particular product or service.
margin on sales
To be part of the ________ for a product, consumers must share a common need that can be satisfied by the product and have the resources, willingness, and authority to purchase the product.
market
Through the data mining application of ________, marketers target promotional strategies for products based on the records of which customers have recently purchased certain other products
market basket analysis
A donut shop chain opened its first store outside of North America with the opening of a shop in Australia. The donut company used a ________ strategy.
market development
A growth strategy that attracts users of competitive brands is called a ________ strategy
market penetration
When General Mills urged consumers to lower their cholesterol by eating Cheerios twice a day over the course of six weeks, the aim was to increase usage among current customers
market penetration
Which of the following research techniques has the advantage of rapid back-and-forth communication between a company and group of consumers, allowing for real-time data collection over a period of time?
market research online community
A ________ is a distinctive group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market
market segment
An organic farmer has identified three distinct groups who might be interested in his products: vegetarians, people who are concerned about chemicals in their foods, and people who consider themselves innovators and trendsetters. These three groups are examples of _______
market segments
Marketers use the metric of ________ to see the effectiveness of their marketing efforts in comparison to their competitors' actions
market share
To reduce the workload required to fully take advantage of all of the data collected from customers in a DRM program, firms use ________, a set of rules for handling different processes in a predetermined way
marketing automation
A marketing manager can use a(n) ________ to run multidimensional scaling that creates perceptual maps.
marketing decision support system
The first step of the market planning process involves closely examining the ________.
marketing environment
A ________ is a process that determines what information marketing managers need and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information to users.
marketing information system
The ROMI of a campaign is an example of a(n) ________.
marketing metric
Concrete measures of various aspects of marketing performance are called ________
marketing metrics
Conversion rate is an example of ________.
marketing metrics
Reach and frequency of advertising, timeliness and accuracy of competitive intelligence, and consumer word-of-mouth activity are all examples of ________
marketing metrics
The four Ps are the components of the ________
marketing mix
In a marketing plan, the ________ state what the marketing function must accomplish to achieve overall business objectives.
marketing objectives
A(n) ________ is a document that describes the marketing environment, outlines the marketing objectives and strategies, and identifies how the company will implement the strategies
marketing plan
The ________ is a document that describes the marketing environment, outlines the marketing objectives and strategy, and identifies who will be responsible for carrying out each part of the marketing strategy
marketing plan
The vice president of marketing of a software development company periodically develops a(n) ________, which includes marketing research data on the target market, marketing objectives such as "to increase new customers by 20 percent," and a list of who will be responsible for implementation.
marketing plan
Action plans are often referred to as ________.
marketing programs
A glitzy shopping mall, a mail-order catalog, a television shopping network, and an ecommerce website are all examples of ________.
marketplaces
A company is implementing ________ when it airs a television commercial to millions.
mass communication
A new pizza restaurant is opening in town. The owners of this restaurant decide to place an advertisement in the town newspaper announcing the date of their big opening. The owners of the restaurant are using ________
mass communications
A ________ consists of all possible customers in a market regardless of the differences in their specific needs and wants.
mass market
Using a(n) ________ approach, a company uses a single strategy to reach all customers. A) open-source
mass market
Using the sustainability metric of ________, a firm would examine the pounds of physical resources wasted per unit of organizational output.
material intensity
Which of the following is a primary data collection method that relies on nonhuman devices to record consumer behavior?
mechanical observation
Annie's Homegrown markets organic prepared and easy-to-prepare foods and snacks, from macaroni and cheese to their signature bunny crackers. The company's ________ is "to cultivate a healthier and happier world by spreading goodness through nourishing foods, honest words and conduct that is considerate and forever kind to the planet."
mission
The ________ for Twitter is "To give everyone the power to create and share ideas and information instantly, without barriers.
mission statement
A marketing manager would most likely use which of the following to find out how many consumers stay with his brand and how many switch, enabling him to project market shares over time
modeling software
Which of the following is NOT a major data source for a marketing information system (MIS)?
modeling software
In a(n) ________ structure, there are many sellers, each offering slightly different products and each having only a small share of the market.
monopolistic competition
In a(n) ________ structure, one seller controls a market.
monopoly
Which of the following is a sponsored message that mimics the normal content of the media vehicle in which it appears?
native advertising
Chris just landed her dream job but realizes that her college wardrobe is not going to work for her new professional position. In this situation, Chris has a(n) ________.
need
When a gap exists between a consumer's actual state and some ideal or desired state, the consumer has a ________.
need
The communication model acknowledges that messages can be blocked by ________, which is anything that interferes with effective communication.
noise
Nongovernmental organizations are also known as ________.
not-for-profit organizations
The ________ method of promotional budgeting is based on determining the level of spending necessary to accomplish specific promotion goals.
objective-task
Which of the following is NOT a survey method for data collection?
observations
In a(n) ________ structure, there are a relatively small number of sellers, each holding substantial market share, in a market with many buyers.
oligopoly
Disadvantages of ________ are that hackers can influence research and competitors can learn about marketing firms' plans.
online research
A sales manager sets an objective for her team to increase the units sold by five percent for the quarter. This objective is most likely part of a detailed ________ plan that is created annually, semiannually, or quarterly
operational
A detailed quarterly plan that states how many units of product each salesperson on the team needs to sell per month is an example of a(n) _______
operational plan
Market planning is followed by the ________, which details how the plan will be carried out, outlining the day-to-day execution.
operational plan
Columbia Sportswear has introduced a new line of comfortable, lightweight clothing for people who fish. An example of ________ is the decision to run a full-page ad in Field & Stream magazine in May to get potential customers to ask their sporting goods stores to carry the new products.
operational planning
The value chain activity of ________ refers to converting materials into a final product for consumers.
operations
Analysis of the external environment of an organization identifies the organization's ________
opportunities and threats
Numeric or categorical information is referred to as ________.
optimized data
The text of an email or a social media post would best be categorized as ________
optimized data
Ads on the sides of delivery trucks, ads on the fence around a baseball field, and ads that you see on interstate billboards are all examples of ________ media.
out-of-home
Walmart's Retail Link provides real time purchase data to suppliers of goods sold at Walmart stores. Retail Link is an example of a ________ source of Big Data
partner database
A trade show is a way for a company to do all of the following EXCEPT which one?
pay a bonus to members of its salesforce
Which of the following measures is often a good indicator of a country's economic health because it is adjusted for the population size of each country?
per capita GDP (gross domestic product)
The greater the ________ of a purchase, the higher the consumer's level of involvement will be.
perceived risk
A florist who decides to budget five percent of last year's sales for promotional activities is using which of the following budgeting techniques?
percentage-of-sales
Though the ________ method of setting an advertising budget is simple to use and helps management think about the relationships among promotion spending, selling price, and profit per unit, it wrongly views sales as the cause of promotion rather than the result.
percentage-of-sales
In a(n) ________ structure, there are many small sellers, each offering similar products, and each unable to have a significant impact on the quality, price, or supply of a product
perfect competition
Which of the following practices helps to protect consumers from spam?
permission marketing
A.Y. McDonald, a manufacturer of pumps and plumbing valves, employs regional salespeople to sell its products to wholesalers and cities. This is an example of ________.
personal selling
A.Y. McDonald, a manufacturer of pumps and plumbing valves, employs regional salespeople to sell its products to wholesalers and cities. This is an example of ________.
personal selling
Conveniently located vending machines around your college or university campus make it easy for you to buy a soda and a snack between classes. This is an example of the ________ element of the marketing mix.
place
Shane pulled her car into the gas station just as the fuel gauge dropped below empty. In this example, Shane benefited from the ________ utility offered by the gas station.
place
Which element of the marketing mix is most closely associated with a company's channel of distribution
place
The market research process step of defining the research problem has three components: specifying the research objectives, identifying the consumer population of interest, and ________
placing the problem in an environmental context
The market research process step of defining the research problem has three components: specifying the research objectives, identifying the consumer population of interest, and ________.
placing the problem in an environmental context
An example of a(n) ________ is a five-foot-high cardboard display of Cap'n Crunch next to Cap'n Crunch cereal boxes.
point of purchase (POP) display
The ________ environment refers to the local, state, national, and global laws and regulations that affect businesses.
political and legal
Which of the following types of ads can users block with Internet access software applications?
pop-ups
The growth-market share matrix developed by the Boston Consulting Group (BCG) is a type of ________.
portfolio analysis
There are several different sports watches for cyclists. When compared to its competitors, the Bike Nashbar watch is the least expensive. The Acumen Basic is the only one designed for older cyclists who prefer a larger display. Sports Instrument is the most comfortable of all the available watches. This describes the ________ of the three sports watches.
positioning
The marketing team at Joe's Auto World wants to use the information it collected from last year's online advertising campaigns, the most recent Census, and the company's internal CRM system to forecast the effectiveness of two proposed advertising campaigns for the upcoming year. To accomplish this, the marketing team at Joe's Auto World will most likely use ________.
predictive analytics
Two teachers purchased art supplies for their classes. One paid $103.45 for eight large boxes of crayons. The other teacher purchased ten identical boxes for $105.55. The second teacher got more for her money because she took advantage of a quantity discount, a reduced price for buying ten or more boxes. Which element of the marketing mix most directly relates to these purchases?
price
_______ is the assignment of value, or the amount a consumer must give to receive a product
price
Which of the following is a measure of customers' sensitivity to changes in price?
price elasticity demand
All of the following are forms of utility created by marketing processes EXCEPT ________
price utility
In recent years, airlines have used debundling strategies, charging fees for perks such as checked baggage that had previously been included in the ticket price. This is an example of a ________ strategy
pricing
Which of the following is NOT typically part of a firm's action plan?
pricing strategies
A firm's ________ determines how much a firm charges for a product.
pricing strategy
Southwest Airlines uses a ________ to target customers who could not previously afford air travel.
pricing strategy
Which of the following is information gathered directly from respondents in order to specifically address a question at hand?
primary data
The two main types of samples used by researchers are ________.
probability and nonprobability
A ________ is a good, service, idea, place, or person—whatever is offered for sale in the exchange
product
The ________ is the most fundamental part of the marketing mix.
product
Through ________ competition, competitors offer different goods and services that attempt to satisfy the same consumers' needs and wants.
product
To successfully market the Corvette to the European market, General Motors had to make the automobile shorter and narrower. GM chose to use a ________ strategy with the Corvette.
product adaptation
A television commercial for Post Select cereal is an example of which of the following?
product advertising
Edy's is a brand of high quality ice cream. Edy's introduced Godiva ice cream and Starbucks ice cream to tempt ice cream lovers to eat even more ice cream. Edy's used a ________ strategy.
product development
Sony found that Japanese commuters had difficulty using standard laptops on crowded rush-hour trains since standing commuters have no laps, so it created the U as a "standing computer." The U includes a touch screen and small keyboard that can be used while standing or on the move. This is an example of ________.
product invention
Alaska Airlines decided to fly a model of the Boeing 737 with overhead bins with significantly increased luggage space. This is an example of a ________ for Alaska Airlines.
product strategy
Which of the following best describes the components of the marketing mix?
product, price, place, and promotion
The ________ provides managers with four different fundamental marketing strategies: market penetration, market development, product development, and diversification.
product-market growth matrix
A flour producer that identifies its mission as "the milling of fine flour in the most efficient manner possible" most likely has a ________ orientation.
production
The coordination of marketing communication efforts to influence attitudes or behavior is known as ________.
promotion
Advertising, sales promotion, public relations, publicity, direct marketing, and personal selling are all parts of the ________.
promotional strategy
Marketers communicate a product's value proposition to the target market by implementing a ________.
promotional strategy
U.S. sugar import quotas have existed for more than 50 years and preserve about half of the U.S. sugar market for domestic producers. These quotas are examples of ________
protectionism
When a government adopts a policy of ________, it enforces rules on foreign firms in order to give home companies an advantage.
protectionism
The main activities of value chain members include all of the following EXCEPT ________.
providing unbiased information about the product to consumers
A newspaper article reported on a lawsuit in which independent coffee shops accused a national chain of coffee shops of engaging in an illegal conspiracy to drive them out of business. What promotion element would the national chain of coffee shops most likely use to improve its corporate image, which has been tarnished by these accusations
public relations
Which of the following is the type of advertising that the media run free of charge?
public service advertisements
Which promotional mix strategy directs marketing efforts toward final consumers?
pull
Business-to-consumer companies are more likely to emphasize a ________ strategy, while business-to-business companies are more likely to emphasize a ________ strategy.
pull; push
Which promotional mix strategy directs marketing efforts toward market channel members?
push
Which of the following is a bonus paid by a manufacturer to a salesperson for selling its product?
push money
Which of the following types of sales promotions would NOT be offered to a final consumer?
push money
A city hired a research company to survey spring break vacationers to learn about this market. One of the questions asked was, "If you were able to hang out on the beach with any celebrity, who would she or he be?" This type of question is a means for gathering ________.
qualitative data
Which type of research generates nonnumeric results that provide detailed verbal or visual information about consumers' attitude?
qualitative research
According to the BCG growth-market share matrix, ________ are strategic business units with products that have low market shares in fast-growth markets.
question marks
Some cellular providers are signing deals with business partners wanting to market products based on specific phone users' locations and calling habits. These cellular providers are participating in a new trend called ________.
reality mining
Toro ran a clever preseason promotion on some of its snow blower models, offering some money back if the snowfall in the buyer's market area turned out to be below average. This is an example of a ________
rebate
In the communication model, the ________ can be any organization or individual that intercepts and interprets a message.
receiver
The purpose of an import quota is to ________.
reduce competition for a nation's domestic industries
Nationalization occurs when a government ________.
reimburses a foreign company for its assets after taking over the company
Children are difficult subjects for market researchers because they have poor recall and often do not understand the questions they are asked. This brings into question the ________ of the survey.
reliability
Which of the following quantifies how an investment in marketing impacts the firm's success, financially and otherwise
return on marketing investment
The direct financial impact of a firm's expenditure on marketing activities is called the ________.
return on marketing investment (ROMI)
SwimFit produces gear for swimmers, including suits, goggles, swim caps, and ear plugs. SwimFit wants to improve the quality of its goggles to match or surpass the quality of the product category leader. Which of the following is SwimFit most likely to use to find out more about how its competitor's product is made?
reverse engineering
Which of the following is the process of physically deconstructing a competitor's product to determine how it is put together?
reverse engineering
An email from Amazon.com offers free shipping on your next purchase of more than $35. This is an example of ________.
sales promotion
The use of short-term incentives to encourage the immediate purchase or sale of a product or service is called ________.
sales promotion
Keely was invited to examine a free copy of a new magazine called Coastal Living. If she did not enjoy the magazine, she could write "Refused" on the invoice for her subscription, which would arrive about three weeks after the free magazine. The magazine's publisher was using ________.
sampling
Walgreens customers can sign up for the Balance Rewards program, entering a member number or using a member card every time they make a Walgreens purchase in order to receive discounts and build up points that can be redeemed for rewards. Information that Walgreens collects through these purchases is best described as ________.
scanner data
Through ________, a firm tries to guarantee that its brand will appear at or near the top of lists of typical search phrases related to its business.
search engine optimization
A market research bureau semiannually conducts national surveys of more than 25,000 consumers who complete monthly logs detailing their purchases of products. Many companies subscribe to the bureau's report publication to learn of the findings of these surveys. This information can be classified as ________.
secondary data
Data that have been collected for some other purpose than to answer the question at hand are called ________.
secondary data
Opinion Research Corporation and Experian Simmons are two companies that provide _______
secondary data
Opinion Research Corporation and Experian Simmons are two companies that provide ________
secondary data
Which of the following is the process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics?
segmentation
What are the steps, in order, of the target marketing process?
segmentation, targeting, and positioning
Companies that have a ________ orientation tend to be more successful at making one-time sales than at building repeat business
selling
Jolene's firm markets preplanning services for a mortician. She finds that most of her target market wants to avoid discussing future funeral needs, so she must somehow first get their attention. Jolene's firm most likely uses the ________.
selling orientation
Through a process of ________, a company can identify a social media platform user's attitude toward a brand
sentiment analysis
Alex paid for a(n) ________ when he took his car to the carwash to be washed and waxed
service
The second step of the marketing planning process is to ________.
set marketing objectives
Average collectors of an artist's miniatures will buy four new miniatures each year. The collectibles are available at a number of retail locations and from several catalog retailers. To ensure she gets a greater ________, the owner of The Door Gift Shop sends her customers who are collectors a postcard every time the store adds a new miniature to her store's inventory
share of customer
Companies that successfully practice customer relationship management measure success by ________.
share of customer and lifetime value of the customer
Which of the following is the industry term for inventory and cash losses from shoplifting and employee theft
shrinkage
In which step of developing a marketing plan would managers examine external elements that specifically affect the marketing plan?
situation analysis
Which of the following is NOT a form of one-to-one marketing?
social networking
Specific rules that dictate what is acceptable or unacceptable within a society are referred to as ________.
social norms
The ________ environment refers to the characteristics of a society, the people who live in the society, and the culture that reflects the values and beliefs of the society.
sociocultural
A marketing decision support system (MDSS) is a ________.
sophisticated information system that allows marketing managers to use statistical and modeling software tools
According to the communication model, the ________ is an organization or individual that sends a message.
source
Buyers, sellers, investors, and community residents are all considered ________ in a company
stakeholders
Areas of business within a firm that are distinct enough to have their own missions, business objectives, resources, managers, and competitors are referred to as ________.
standard business units
A country's ________ indicates the average quality and quantity of goods and services consumed within the country.
standard of living
When considering the four Ps in international marketing, advocates of ________ focus on the similarities among cultures and argue that basic needs and wants are the same everywhere.
standardization
Unilever makes Rexona deodorant and antiperspirant, a leading brand of deodorant and antiperspirant. Because the worldwide market for deodorants and antiperspirants is growing rapidly, Rexona would be classified as a ________ on the BCG growth-market share matrix.
star
According to the BCG growth-market share matrix, ________ are strategic business units with products that have a dominant market share in a high-growth market.
stars
According to the BCG growth-market share matrix, ________ are strategic business units with products that have a dominant market share in a low-growth potential market.
stars
Wrigley's chewing gum is the same product whether you buy it in Japan, Great Britain, Brazil, or the United States. Wrigley's sells the same products around the world. It has adopted a(n) ________ strategy
straight extension
To enter the European market, Starbucks joined in a cooperative venture with Bon Appetit Group A.G. in Switzerland. Bon Appetit has the recognized brand name, and Starbucks has the product and the expertise to run coffeehouses. This is an example of a(n) ________.
strategic alliance
Kimball Gardens is a company that operates as two distinct businesses: one that sells lawn and garden products and one that markets booklets. Each business is called a ________
strategic business unit (SBU)
SBU stands for ________.
strategic business units
Questions such as "What business are we in?" and "What customers should we serve?" are typically addressed in the ________ stage.
strategic planning
The three levels of business planning are ________.
strategic, functional and operational
A ________ sample is a type of probability sample in which a researcher divides the population into segments that relate to the study's topic.
stratified
Analysis of a firm's internal environment identifies the firm's ________.
strengths and weaknesses
Your text describes the two main primary data collection methods as ________
survey and observation
A company that focuses on ________ is concerned with meeting present consumer needs without compromising the ability of future generations to meet their needs.
sustainability
In general, companies that focus on a triple bottom line are most likely to place a priority on which of the following?
sustainability
A company reports on consumers' perceptions of more than 1,700 performers for companies that are interested in using a performer in their advertising. This type of report is an example of ________.
syndicated research
Nielsen compiles ratings of television shows and then sells the information to other firms. Nielsen conducts ________.
syndicated research
Which of the following is general information collected by specialized firms on a regular basis and then sold to other firms?
syndicated research
Expropriation occurs when a government ________.
takes over a foreign operation and provides the seized operation with no reimbursement
A ________ is defined as a market segment on which an organization focuses its marketing plan and toward which it directs its marketing efforts
target market
A catalog retailer has identified African-American professionals between the ages of thirty five and forty-five as the group of customers within the larger market that is a potential market for its products. The retailer plans to direct its marketing efforts toward this group of consumers. The retailer has identified a ________.
target market
A(n) ________ is the market segment a firm selects because management believes the firm's offerings are most suited to winning those customers.
target market
Which of the following is the process of evaluating and selecting the most viable market segment to enter?
targeting
In February 2000, the United States imposed a tax on imported steel in an effort to protect about 5,000 U.S. jobs. Another name for this levied tax is a(n) ________.
tariff
The purpose of a government-imposed ________ is to give domestic competitors an advantage in the marketplace by making foreign competitors' goods more expensive than domestic goods.
tariff
The use of drones to deliver packages to consumers' homes would represent a change in the ________.
technological environment
Telemarketing has had the greatest impact on which of the following data collection methods?
telephone interviews
Which of the following is NOT an example of a digital marketing channel
television
You are looking to advertise your new product, and you want good mass-marketing coverage that is cost effective. You should go with ________ as your advertising medium.
television
Big Data would most likely be measured in which of the following?
terabytes
Apple ran ads featuring real people who had switched from Microsoft Windows PCs to Macs. When companies use people, actors, or sports celebrities to express the product's effectiveness, what kind of execution format is being used?
testimonial
Which of the following is an example of a not-for-profit organization that would use marketing principles?
the Bronx Zoo
The United States, the United Kingdom, Canada, France, Italy, Germany, and Japan are all members of ________.
the G7
The euro is the currency used by ________.
the WTO
Which advertising agency specialist is responsible for acting as the voice of the consumer in creating effective advertising?
the account planner
A severe recession is a depression, a period in which prices fall but there is little demand because few people have money to spend and many are out of work. This condition is part of ________.
the business cycle
Which of the following types of managers would be most likely to engage in operational planning on a regular basis?
the company's sales manager
Toward the end of the fiscal year, the owner of a small company came back from lunch concerned because he had learned that a business targeting his same customer base was planning on spending $150,000 on promotion. As soon as he arrived at the office, he called his financial manager and said, "I want to budget $150,000 for next year's promotion." Which method of promotional budgeting did the owner want to use?
the competitive-parity method
Which method of setting an advertising budget is based on analyzing competitors' spending?
the competitive-parity method
When a firm analyzes the marketing environment, it is least likely to look at which of the following?
the cost of developing a new product
Which of the following is the best example of a consumer good?
the disposable diapers purchased by the new mother for her baby
Which of the following lists the three components of the triple bottom line orientation?
the financial bottom line, the social bottom line, and the environmental bottom line
The BCG growth-market share matrix measures which of the following?
the market growth rate and the relative market share of a firm's SBUs
Marketers first identify consumer needs and then provide products that satisfy those needs. This practice is referred to as ________.
the marketing concept
Which of the following is the best example of a service?
the medical examination Jonathon had yesterday
Which of the following is the best example of an activity metric?
the number of sales calls made by a salesperson during a month
In media metrics, frequency is which of the following?
the number of times a person in the target group will be exposed to an ad
Which of the following is an example of a bottom-up technique for developing promotional budgets?
the objective-task method
Which of the following is part of the product element of the marketing mix?
the packaging
Biopure is a company that manufactures and markets oxygen therapeutics. Its products are Hemopure for human use and Oxyglobin for animal use. Both have been developed as alternatives to red blood cell transfusions. Which of the following would be part of Biopure's internal environment?
the patented manufacturing process that Biopure uses to produce Hemopure and Oxyglobin
Bounce rate refers to ________.
the percentage of visitors to a homepage who leave the overall site rather than exploring other pages within the site
Which of the following is an example of a top-down budgeting technique used to determine how much a firm will allocate to its promotional activities
the percentage-of-sales method
A new shampoo advertisement on television identifies all of the wonderful benefits the consumer will enjoy when using one company's shampoo as opposed to another company's shampoo. What is this company seeking to convey in this television commercial?
the product's differential benefits
A company's total marketing communications mix consists of a special blend of advertising, sales promotion, public relations, personal selling, and direct-marketing tools that the company uses to communicate customer value and build customer relationships. This is also called ________.
the promotion mix
Which of the following identifies exactly what information marketers will collect and what type of study they will conduct?
the research design
Which component of the market research process determines the consumer population that a company will study?
the research objective
The management team at Home Help, a consumer products manufacturer, is considering entering several different foreign markets and is in the process of analyzing each potential market's economic environment. Which of the following would best help the management team understand the typical quality and quantity of goods and services purchased in the country? A) gross national product (GNP)
the standard of living
Terrible Tees is an online t-shirt company that invites consumers to enter their t-shirt designs in a monthly contest. All visitors to the site are invited to vote on their favorite design, and at the end of the month, the company produces and takes orders for the t-shirt design with the most votes. This is an example of ________.
the wisdom of crowds
Women who rent their wedding gowns instead of buying them and wearing them only once are taking advantage of ________ utility.
time
Seth's mother didn't want to build a climbing wall as a permanent feature in her backyard, but it was certainly convenient to rent one from the company that catered Seth's 12th birthday party. The catering company created both ________ utility when it rented her the climbing wall.
time and place
Which of the following is NOT one of the four main roles performed by marketing communication?
to entertain
U.S. sugar import quotas have existed for more than 50 years and preserve about half of the U.S. sugar market for domestic producers. Why does the United States continue to have these quotas?
to reduce competition for its domestic sugar industry
Any direct interface between customers and a company—whether it is online, in-person, or over the phone—is called a(n) ________.
touchpoint
Tara Keegan owns Live Well, a small chain of health stores offering a variety of natural health products and related services. In order to implement integrated marketing communications, Tara has hired a marketing communications director, whose job it will be to ensure that each ________ will deliver a consistent and positive message to consumers about the company
touchpoint
Which of the following is NOT an example of a marketing metric?
touchpoint
Through its CRM program, an online clothing company records information about each time a customer makes a purchase or clicks on a link through an email or an online advertisement. These interactions are examples of ________.
touchpoints
Predictive technology used by e-marketers relies on which of the following?
tracking the shopping patterns of large numbers of people
NAFTA is a(n) ________.
trade agreement that includes Canada, Mexico, and the United States
IBM manager Celia Moore coordinates IBM's long-standing "Reinventing Education" program that involves intensive research into how educational institutions can use the fruits of new technologies to transform what they do. In the process, the program is actually helping to shape a market of significant interest to IBM. "We see the program very much as an investment, rather than handing out money," says Moore. The existence of this program indicates that IBM has a(n) ________ orientation.
triple-bottom-line
Which of the following is a posttesting technique used by telephone survey or personal interview to determine whether a person remembers seeing an ad during a specified period without giving the person the name of the brand?
unaided recall
Which of the following should be the first step of developing an advertising campaign?
understand the target audience
Which of the following is NOT a focus of customer relationship management?
undifferentiated targeting
The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. In order to increase market share, managers would be most likely to decide which of the following
use money from a cash cow to promote the pharmaceuticals division
Do-it-yourself advertising is a type of ________
user-generated content
Interacting with consumers via portable technology such as smart phones, tablets, and wearable screens is referred to as ________.
user-generated marketing
Using which ethical philosophy would a marketer make the decision that provides the most good or the least harm?
utilitarian approach
________ is the extent that the research design was set to measure what was intended to be measure?
validity
The ratio of benefits to costs is one way to think of ________.
value
A ________ is a series of activities involved in designing, producing, marketing, delivering, and supporting any product.
value chain
In addition to marketing activities, the ________ includes business functions such as human resource management and technology development.
value chain
A ________ is a marketplace offering that fairly and accurately sums up the value that will be realized if the good or service is purchased.
value proposition
A ________ is a desire for a particular product a consumer uses to satisfy a need in a specific way that is culturally and socially influenced.
want
When a company uses computer software to extract large amounts of data from social media platforms, it is using ________
web scraping
Which of the following would marketers most likely learn by "scraping the Web"?
what trends are emerging and what customers are talking about in real time
A firm would be most likely to use backward invention in which of the following situations?
when it needs to offer a less complex product in a foreign market than it sells elsewhere
With which type of marketing communication does the marketer have the lowest level of control over the message?
word-of-mouth communication
Which of the following statements about magazines as an advertising medium is true?
Magazines have long lead times and deadlines that can reduce flexibility
________ strategies introduce a firm's current products into new markets.
Market development
________ is the process of collecting, analyzing, and interpreting data about customers, competitors, and the business environment to improve marketing effectiveness.
Market research
________ is a decision process in which marketing managers determine the strategies that will help the firm meet its long-term objectives and then execute those strategies using the tools they have at their disposal
Marketing
_____is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society
Marketing
________ are put in place to identify deviations in expected performance of marketing efforts
Marketing controls
________ are measures that marketers can use to watch the performance of their marketing efforts.
Marketing metrics
________ consists of the tools an organization uses to create a desired response among a set of predefined consumers.
Marketing mix
________ decisions identify how marketing will accomplish its objectives in the target markets by using product, price, promotion, and place.
Marketing mix
________ is the process of thinking strategically about the big picture and where the firm and its products fit within it.
Marketing planning
Which of the following is the best example of a cultural value?
Marriage is important.
Which of these statements about mass marketing is true?
Mass marketing can be cost effective.
________ is a problem-solving process for getting an advertising message to a specific target audience in the most effective fashion.
Media planning
________ can be classified by primary purpose, such as to inform, persuade, or remind.
Message objectives
Which of the following is the most accurate comparison of structured and unstructured data?
More unstructured data than structured data is created every day.
Trusted Wholesalers is a company that purchases products produced in Mexico and sells them to companies based in the United States and Canada. Management at Trusted Wholesalers would most likely be interested in becoming experts in the agreements made by ________.
NAFTA
The ________ was established by the Federal Trade Commission in 2003 to allow consumers to limit the number of telemarketing calls they receive
National Do Not Call Registry
________ is a type of data collection in which the researcher simply records the consumer's behaviors.
Observation
Which of the following statements about radio as an advertising medium is true?
One advantage of radio advertising is its flexibility.
________ is less expensive, faster, and more flexible than other methods of data collection.
Online data collection
________ is the third, or "nuts-and-bolts," level of planning.
Operational planning
________ generally cover a shorter time period than other plans, perhaps only one or two months, and include detailed directions for specific activities to be carried out.
Operational plans
________ is a measure of the percentage of people in the target market who are exposed to the media vehicle at least once during a given time period.
Reach
Each year, Honeywell asks every department manager to rate his or her department's strengths and weaknesses as well as those of the other departments with which the department interacts. Then each department manager is asked what he or she sees as the greatest threats and opportunities for the company. Honeywell is asking its department managers to engage in a ________.
SWOT analysis
________ is the promotional tool used to build interest in or encourage purchase of a good or service during a specified period
Sales promotion
________ is the managerial decision process that matches the organization's resources and capabilities to its market opportunities for long-term growth
Strategic planning
Which of the following is true of information stored in departmental "silos'?
Such information is best described as unstructured data
Coca-Cola's Minute Maid unit is introducing a new premium fruit beverage. The primary promotional objective of marketing communications for the new product should be to create awareness.
TRUE
Which of the following statements about the World Trade Organization (WTO) is true?
The WTO is the only international organization that deals with the global rules of trade between nations.
Which of the following is true about the steps in the market research process?
The first step is to define the research problem
Which of the following is true of the U.S. Census Bureau data?
The full data collection process occurs only every 10 years
Which of the following is true of the U.S. Census Bureau data?
The full data collection process occurs only every 10 years.
Which of the following is true of the global economy after the Great Recession of 2008-2009?
The global economy grew steadily but slowly from 2014 to 2016
Which of the following accurately identifies a difference between habitual decision making and extended problem solving?
The level of involvement for habitual decision making is lower than it is for extended problem solving.
Which of the following is an example of a transaction that might occur in business-to business marketing?
The retail outlet buys athletic shoes to sell in its store.
________ maintains that marketers must satisfy customers' needs in ways that also benefit society and are profitable to the firm.
The societal marketing concept
________ are companies that collect and sell personal information about consumers.
Web scrapers
Which of the following countries has the highest per capita GDP?
Qatar
Which of the following is NOT characteristic of Web 3.0?
Websites are created to accomplish one specific function.
Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis?
A company is more able to change a weakness than a threat
Which of the following is a true statement about the Four Ps of the marketing mix?
A decision about one of the Ps affects every other marketing-mix decision.
Which of the following is true about a nonprobability sample?
A researcher uses personal judgment to select participants.
________ is the element of the promotion mix that involves direct interaction between a company representative and a customer.
Personal selling
________ is a tool management uses to assess the potential of a firm's business portfolio. It helps management decide how to allocate resources among the firm's current SBUs
Portfolio analysis
________ means developing a marketing strategy aimed at influencing how a particular market segment perceives a good or service in comparison to the competition
Positioning
________ utility is the benefit marketing provides by allowing the consumer to own, use, and enjoy a product.
Possessions
________ refers to a company's estimate of the number of consumers who are willing and able to pay for a product.
Potential demand
________ are techniques that use large quantities of data and variables to forecast specific future outcomes of marketing efforts.
Predictive analytics
________ are goods offered either free or at low cost as an incentive to buy a product; they may be in-pack, on-pack, or delivered through the mail.
Premiums
________ is the assignment of a product's value, or the amount the consumer must exchange to receive the offering
Price
The Four Ps are ________
Price, Product, Place, Promotion
________ occurs whenever a consumer sees a significant difference between his current state of affairs and some desired or ideal state
Problem recognition
Marketing communication is also referred to as ________.
Promotion
The ________ element of the marketing mix informs consumers about products and encourages them to buy these products using forms such as personal selling, advertising, coupons, and publicity
Promotion
________ components of the promotion mix do not seek a short-term increase in sales. Instead, with these communication activities, the company tries to maintain a positive image of an organization and its products.
Public relations
________ is the process of selecting respondents for a survey.
Sampling
________ are intangible products that we pay for and use but never own.
Services
The ________ was developed to eliminate monopolies and to guarantee free competition.
Sherman Antitrust Act
________ are Web applications that can help online shoppers find what they are looking for at the lowest available price.
Shopbots
________ is the execution format that depicts typical people using the product in an everyday setting
Slice of life
________ is the first, or "big picture," level of planning.
Strategic planning
Which of the following best explains why marketers are attracted to the BRICS countries?
These countries have masses of consumers who are not yet wealthy but are quickly moving to economic prosperity.
Which of the following is true of focus groups?
They are used to gather exploratory data.
Which of the following best explains why a 40-year-old woman and a 15-year-old boy would interpret an ad for an age-minimizing makeup differently
They have different frames of reference
________ refers to the mood or attitude an advertisement conveys.
Tonality
Social networking is an integral part of which of the following?
Web 2.0
the percentage of visitors to a homepage who leave the overall site rather than exploring other pages within the site
Validity
An ad for a new Dior fragrance featuring Natalie Portman appeared in Vogue magazine. In terms of the communication model, the medium of this ad is ________.
Vogue
________ refers to the total value of all the exports and imports of the world's nations.
World trade
Ruth Terry is a realtor. In her ads, Terry offers the free use of a moving truck to every customer she helps either buy or sell a house. This free use of a moving truck is an example of ________
a benefit
Managers of a discount retailer would use which of the following to access up-to-the-minute sales information obtained from the store's cash registers around the country in order to detect problems with products, promotions, and even the firm's distribution system?
a company intranet
Researchers counted the number of out-of-state cars parked in an outlet mall parking lot at 10 a.m. and 4 p.m. The gathering of this quantitative data is an example of descriptive research using ________
a cross-sectional design
Every six months, Doug is asked to fill out a survey asking when he expects to buy a new vehicle and what type and model he plans to purchase. Doug, along with a group of consumers with similar buying habits, has been participating in this survey for the last eight years. The gathering of this quantitative data is an example of descriptive research using ________.
a longitudinal design
Which of the following is the method marketers use to collect available information about what is going on in the world that is relevant to their business?
a market intelligence system
Exporting products overseas is an example of ________.
a market-entry strategy
Which of the following would most likely be used in a focus group?
a one-way mirror that allows a client to observe the group
A group of investors wants to bring a minor league baseball team to a community of 100,000 to create hometown spirit and offer a new form of family entertainment. The group surveyed people in the community to see if they would attend the games, how frequently they would attend, and whether the location of the proposed baseball stadium was acceptable. This survey is an example of ________.
a primary data source
Glasis is a type of paint made specifically for use on cars. An ad in Motor Trend magazine advising consumers to request their body shops use Glasis paint is an example of how a company uses ________
a pull strategy
An ad in a professional journal targeted to an audience of dentists asked dentists to recommend Crest toothpaste to their patients. It offered toothpaste samples that dentists could buy at cost to give to their patients to encourage patients to take better care of their teeth. The manufacturer of Crest toothpaste was using ________
a push strategy
