CHAPTER 1-5 Quiz Questions

CH3: Which of the following generational groups account for only a third of the U.S. population yet accounts for half of all consumer spending? a) Millennials b) Generation X c) Generation Z d) Baby Boomers e) the Lost Generation

d) Baby Boomers

CH4: Susan Hart, the manager of a children's boutique, collects data from her monthly records of sales, costs, and cash flow. In this case, Susan is making use of ________ databases. a) external b) secondary c) historical d) internal e) dialog

d) Internal

CH4: Which of the following statements about international marketing research is true? a) International marketing research has declined over the past decade due to global economic decline. b) Conducting personal interviews in developing countries is generally less difficult and less expensive than doing so in developed nations. c) International researchers follow a different set of steps in marketing research than domestic researchers d) Language translation in international marketing research typically increases costs and raises the risk of errors. e) International researchers benefit from useful secondary data that is available online, so primary data is typically unnecessary.

d) Language translation in international marketing research typically increases costs and raises the risk of errors.

CH2: In the 4P's of the marketing mix, promotion refers solely to advertising True or False?

False

CH1: ______ are defined as states of felt deprivation a) Needs b) Ideas c) Demands d) Values e) Exchange

a) Needs

CH1: Which of the following is a difference between the marketing concept and the selling concept? a) The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products. b) The marketing concept focuses on customer conquest, whereas the selling concept focuses on targeting the right customer. c) The marketing concept takes an inside-out perspective, whereas the selling concept takes an outside-in perspective. d) The marketing concept is product-centered, whereas the selling concept is production-centered. e) The marketing concept focuses on short term sales, whereas the selling concept strives to build long-term customer relationships.

a) The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products.

CH1: _______ are the form of human needs take as they are shaped by culture and individual personality. a) Wants b) Necessities c) Services d) Benefits e) Risks

a) Wants

CH4: Does Google know when and where you will be traveling by monitoring your Google Calendar and Gmail. TRUE OR FALSE

TRUE

CH5: Social class is not determined by a single factor, such as income, but is measured as a combination of occupation, income, education, wealth, and other variables. TRUE OR FALSE

TRUE

CH5: Subcultures are groups of people with shared value systems based on common life experiences and situations. TRUE OR FALSE

TRUE

CH1: Ritz-Carlton hotels are fervently dedicated to anticipating customer's slightest needs. Without ever asking, they seem to know when customers want a king-size bed, non-allergenic pillow, extra body gel, or the blinds open upon arrival. An amazing 95% of departing guests report that their stay has been a truly memorable experience. This is an example of _________ a) customer delight b) customer lifetime value c) customer equity d) customer share e) customer-perceived value

a) customer delight

CH5: Sam is in the market for a new car. She is seriously considering either a Honda Civic or Toyota Corolla because they both have excellent quality and safety ratings and are comparable in price. Sam is in the ________ stage of the buyer decision process. a) evaluation of alternatives b) need recognition c) information search d) purchase decision e) postpurchase behavior

a) evaluation of alternatives

CH2: The two dimensions the BCG approach uses to evaluate and manage SBUs are _______. a) market growth rate and relative market share b) market growth rate and market development c) market growth rate and market penetration d) relative market share and product development e) relative market share and market penetration

a) market growth rate and relative market share

CH2: Evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are attained is called ______. a) marketing control b) marketing implementation c) market planning d) marketing development e) market targeting

a) marketing control

CH5: A business buyer is considering a change in product specifications, terms, and possibly suppliers. This buying situation is referred to as a(n) __________. a) modified rebuy b) new-task situation c) straight rebuy d) dual distribution channel e) exclusive distribution channel

a) modified rebuy

CH5: Which of the following is the first stage of the buyer decision process? a) need recognition b) information search c) evaluation of alternatives d) purchase decision e) postpurchase behavior

a) need recognition

CH2: Design, packaging, service, and features are elements of the _______ component of a company's marketing mix. a) product b) price c) promotion d) place e) people

a) product

CH4: Casual research is used to __________. a) test hypotheses about cause-and-effect relationships b) gather preliminary data to define problems and their underlying causes c) collect information on the demographics of customers d) collect information on the attitudes of consumers e) generate hypotheses about the causes of a marketing problem

a) test hypotheses about cause-and-effect relationships

CH3: Which of the following is most likely true about companies that take a proactive stance toward the marketing environment? a) they develop strategies to change the marketing environment b) they believe that marketing strategies are bound by the current environment c) they passively accept the marketing environment in its current state d) they view the marketing environment as an uncontrollable element e) they design strategies according to environmental forces in the market

a) they develop strategies to change the marketing environment

CH3: Secure is a financial services and insurance company. The company's most profitable division is one that sells the Secure Future Plan. The Secure Future Plan targets customers who are entering retirement and want long-term savings so they can remain financially independent in the later years of their life. The marketing team at Secure has most likely targeted the plan at ________. a) Millennials b) Baby Boomers c) Gen X d) Gen Z e) the Lost Generation

b) Baby Boomers

CH3: ________ is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics a) Socio-Anthropology b) Demography c) Behavioral ecology d) Environmental Studies e) Political science

b) Demography

CH2: In the BCG growth-share matrix, question marks refer to products or businesses with a ______. a) low market share in a niche market b) Low market share in a market with high growth prospects c) Greater market share than all their competitors combined in a saturated market d) High market share in a market with a high growth rate e) Low market share in a market that is set to shrink significantly

b) Low market share in a market with high growth prospect

CH5: Corning produces Gorilla Glass screens that are used in the production of laptops, tablets, and smartphones. Corning promotes its product to final consumers to increase business demand for digital devices made with the specialized, toughened glass. This illustrates ________. a) types of decisions b) derived demand c) market structure d) the decision process e) mature of the buying unit

b) derived demand

CH3: Changes in variables, such as income, cost of living, interest rates, and savings and borrowing patterns most likely reflect changes in the _______ environment of a company. a) demographics b) economic c) political d) cultural e) micro

b) economic

CH4: Information collected from commercial online databases or through Internet search engines are examples of ________ data. a) primary b) secondary c) first hand d) experimental e) ethnographic

b) secondary

CH5: What is the most important consumer buying organization in society? a) leading adopters b) the family c) membership groups d) reference groups e) aspirational groups

b) the family

CH3: Which of the following is most likely a characteristic of firms that adopt a reactive approach toward the marketing environment. a) they develop strategies to change the marketing environment b) they take advantage of the opportunities provided by the environment c) they take aggressive actions to affect the marketing environment d) they view the marketing environment as a controllable element e) they do not accept the marketing environment as it is

b) they take advantage of the opportunities provided by the environment

CH3: Ursa Martin, a book publisher, has decided to work with Hope in Children, a charitable foundation that helps feed and educate children in poor countries. Ursa Martin has decided that a percentage of revenue from every book it sells will be donated to the charity. The books are marketed by conveying this message to customers. Which of the following marketing techniques describes Ursa Martin's association with Hope in Children? a) joint venture marketing b) cause-related marketing c)niche marketing d)green marketing e) test marketing

b)cause-related marketing

CH4: A firm has a huge amount of individual customer data saved in different databases. Which of the following can be used to integrate, analyze, and apply the available information effectively? a) online market research tools b) integrated marketing systems c) CRM systems d) internal survey methods e) quality assurance tools

c) CRM systems

CH1: Which of the following is an example of consumer-generated marketing? a) Cristal, a jewelry store, uses its page on Facebook to provide information about its upcoming products to its customers. b) Figa, a leading provider of athletic shoes, helps its customers customize their shoes on its web site and choose personalized settings. c) Fun & Run, a local amusement park, promotes its services by allowing consumers to upload videos and write reviews about the park. d) Barton's a local pet supply store, rewards frequent buyers with vouchers and exclusive offers. e) Energix, a manufacturer of soft drinks, attracts customers through televised advertisements.

c) Fun & Run, a local amusement park, promotes its services by allowing consumers to upload videos and write reviews about the park.

CH5: Which of the following is a psychographic characteristic of a consumer? a) gender b) age c) lifestyle d) occupation e) economic status

c) Lifestyle

CH2: Omni Healthcare's analgesic drug Cetaprin has a 40% share in the analgestics market in the country of Terrania. Its closest competitor, Febex, has a 25% share in the market, while four other analgestic brans split the remainder. Which statement indicates that Cetaprint is a CASH COW according to the BCG matrix? a) Omni healthcare often takes money from other strategic business units to support Cetaprin b) A customer survey shows that Cetaprin users do not perfer it to other analgestics in the market c) The demand for analgesic drugs in the Terrania market is expected to remain stable d) Febex is rapidly gaining market share over Cetaprin due to aggressive marketing efforts e) The Terrania market for healthcare products is expanding rapidly.

c) The demand for analgesic drugs in the Terrania market is expected to remain stable

CH2: Which of the following companies is using a divesting strategy? a) Juggernaut Bikes acquires new businesses in order to increase its market share b) To achieve a higher market share, LBD Inc. increases investments that the firm makes in advertising and promotion c) When sales of its clothing division decline, Blackstone sells the division to a competitor d) Getix Computers increases the price of its product in order to maximize short-term profits e) Harlow's market share remains steady over two years, and the firm decides to maintain its share at the current level

c) When sales of its clothing division decline, Blackstone sells the division to a competitor

Which of the following products would the electronics company CypressSound classify as a Cash Cow in its BCG Matrix? a) Cyan --a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily b) Boosh -- a home entertainment system that has a strong market share in a market that is likely to expand in the future. c) Xpress -- An MP3 player that has a high market share in a market that is not expected to grow significantly d) AutoPlay -- A car audio system that has a high market share in a market that has been growing constantly e) Unipress -- a CD player that has a very low market share in a market that is shrinking rapidly.

c) Xpress-- a MP3 player that has a high market share in a market that is not expected to grow significantly

CH4: Vernon Inc. would like to set the best price for a new product. The firm conducts an experimental study by selling the new product at two different prices in two different locations keeping other factors constant to see if a lower price results in better sales. This is most likely an example of ________ research. a) exploratory b) descriptive c) causal d) focus group e) ethnographic

c) causal

CH4: Hammond Corp. operates in the highly aggressive electronics market. The firm aims to obtain early warnings of opportunities and threats caused by the actions of other firms that are doing well in the industry. Which of the following sources would best serve Hammond's purpose? a) sales data from exclusive Hammond retailers b) archival data on company performance c) competitive marketing intelligence d) research on demographics of its existing customers e) internal survey on employee performance

c) competitive marketing intelligence

CH4: The marketing manager of Appeal Inc. has noticed a sharp decrease in sales over the last two months. The manager decides to conduct marketing research to identify potential causes for the drop in sales. Which of the following should the manager do first? a) develop a research plan b) determine a research approach c) define the problem and objectives d) select a research agency to collect data e) conduct exploratory and descriptive research

c) define the problem and objectives

CH3: Monfax Corporation insures manufacturers, distributors, and consumers against the loss or damage of goods during transportation after a purchase or sale. In this case, Monfax is an example of a _________. a) wholesaler b) retailer c) financial intermediary d) physical distribution firm e) marketing service agency

c) financial intermediary

CH4: Which of the following is true of a good marketing information system? a) it focuses solely on maximizing the amount of data generated irrespective of relevance. b) it typically uses only external sources of data in marketing research c) it balances the information that a firm would like to have against what they really need. d) it develops a way of offering information about future plans of action that might not be very feasible or cost-effective e)It eliminates the time-consuming task of assessing the information needs of a firm.

c) it balances the information that a firm would like to have against what they really need.

CH4: Vincent Cosmetics decides to launch a cream with a claim that it makes skin "nine times smoother." The claim is based on a study of 30 respondents who used products of other brands as well. However, a second study on a larger sample reveals only a mild correlation between the use of the cream and smoother skin. In these circumstances, which of the following is the most ethical approach that Vincent Cosmetics can follow? a) It should market the product as planned with the promotional line of "nine times smoother." b) it should modify the results of the study to depict a strong correlation c) it should report the result as it is, or improve the product to match its claim d) it can continue to claim a high correlation and add a tag line saying "results may vary."

c) it should report the results as it is, or improve the product to match its claim.

CH2: Which of the following best describes market segmentation? a) market divesting b)market diversification c) market targeting d) market mixing e) market positioning

c) market targeting

CH5: Which of the following is a social factor that influences consumer buying behavior? a) Members of a social class vary drastically in their values, interests, and behaviors. b) in the U.S, the lines between social classes are fixed and rigid c) social classes show distinct product preferences in areas such as clothing. d) wealth is a mort important variable than education in measuring social class. e) consumers of the same age belong to the same social class

c) social classes show distinct product preferences in areas such as clothing.

CH4: __________is a method of gathering primary data that involves asking people questions about their knowledge, attitudes, preferences, and buying behavior. a) observational research b) archival research c) survey research d) experimental research e) causal research

c) survey research

CH3: Which of the following is part of the microenvironment of a firm's marketing environment? a) the political state of the country in which the firm exists b) the cultural forces that exist in a society c) the suppliers who work with the company d) the technological resources available to the company e) the different demographic trends in the market

c) the suppliers who work with the company

CH4: Which of the following statements regarding marketing intelligence is true? a) marketing intelligence typically involves sensitive and confidential information kept out of the public domain b) The advantage of using competitive intelligence is negligible as it is based only on internal sources of data. c) All marketing intelligence inputs are available at no cost to any potential users. d) Marketing intelligence is the systematic collection, monitoring, and analysis of publicly available information. e) Marketing intelligence efforts are more focused on gaining insights into a firm's consumers rather than its competitors.

d) Marketing intelligence is the systematic collection, monitoring, and analysis of publicly available information.

CH2: Managing the marketing function begins with a complete analysis of the company's situation. A thorough ______ is typically undertaken to guide decision making. a) situation analysis b) internal assessment c) industry overview d) SWOT analysis

d) SWOT analysis

CH3: A consumer advocacy group challenges a firm's decision to build a new warehouse in a small community. The advocacy group is an example of __________ public. a) financial b) government c) media d) citizen-action e) local

d) citizen-action

CH4: Brooke's Boutique plans to launch a new clothing line. For this purpose, the firm first conducts a survey to understand its target audience and identify the demographics of potential buyers. It then conducts experimental research to test whether customers associate discounted prices with lower product quality. Which types of research has the boutique employed in this case? a) exploratory followed by causal b) exploratory followed by descriptive c) descriptive followed by exploratory d) descriptive following by casual e) causal followed by descriptive

d) descriptive followed by causal

CH4: Burger Town introduced a new hamburger and released it in two different cities at two different prices. Marketers of Burger Town then analyzed the sales records of their outlets at the two cities, determined the price that resulted in better profits, and used the information to set a nationwide price for their new offering. This is an example of ________. a) exploratory research b) survey research c) netnography research d) experimental research e) descriptive research

d) experimental research

CH5: Suzette wants to buy a new coat. She asks her friends to recommend a store and/or a style of coat. She looks for sale advertisements for coats in newspapers and also visits nearby stores to check if she can find a coat in her budget. In this case, Suzette is most likely in the ________ stage of the buyer decision process. a) product evaluation b) evaluation of alternatives c) need recognition d) information search e) purchase decision

d) information search

CH4: Which of the following is an advantage of primary data? a) less expensive to obtain than secondary data b) can be obtained more quickly than secondary data c) can be accessed from existing information d) more relevant than secondary data e) more reflective of past problems

d) more relevant than secondary data

CH5: Which of the following needs in Maslow's hierarchy is generally satisfied last? a) physiological b) social c) esteem d) self-actualization e) safety

d) self-actualization

CH 3: Which of the following is most likely a financial public? a) community organization b) special interest organization representing a minority group c) corporate attorney d) stockholder e) newspaper

d) stockholder

CH4: Which of the following demonstrates the real value of a company's marketing research and information system? a) the amount of data it generates b) the variety of contact methods it uses c) the tools it uses to gather information d) the quality of customer insights it provides e) the type of sampling plan it follows

d) the quality of customer insights it provides

CH3: Which of the following is most likely true about business legislation? a) Business laws are enforced only in interactional markets and not in local markets b) Business laws fail to prevent unfair competition among the different companies in a market and tend to encourage monopolies. c) Business laws usually remain constant over time. d) Local, national, and state business laws rarely overlap with one another. e) Business laws that are enforced by government agencies have a major impact on a company's marketing performance.

e) Business laws that are enforced by government agencies have a major impact on a company's marketing performance.

CH1: The _________ concept holds that consumers will favor goods and services that offer the most in quality, performance, and innovative features. a) Societal Marketing b) Marketing c) Selling d) Production e) Product

e) Product

CH1: Stew Leonard's has created what has been the "Disneyland of Dairy Stores," complete with costumed characters, scheduled entertainment, and a petting zoo. It's built 30 additions onto the original store, which now serves more than 300,000 customers each week. This legion of loyal shoppers is largely a result of the store's passionate approach to customer service. Instead of focusing on individual transactions, Stew and his staff are putting a priority on ________. a) decreasing customer-perceived value b) managing partner relationships c) attracting "Butterflies" d) converting "strangers" into "Butterflies" e) capturing customer lifetime value

e) capturing customer lifetime value.

CH4: Which of the following is true of focus group discussions? a) they usually employ large samples b) consumers facial expressions are hidden c) results can be easily generalized to an entire population d) the quantitative data can be evaluated quickly and economically e) consumers are not always honest and open about their opinions

e) consumers are not always honest and open about their opinions

CH3: According to the text, ________ are the most important actors in a company's microenvironment. a) stockholders b) employees c) suppliers d) community stakeholders e) customers

e) customers

CH4: Coolers Inc. has decided to launch a new energy drink that will have the fewest calories among its competitors. To understand the market potential for the new drink and the demographics and attitudes of consumers who are likely to buy the product, Coolers should most likely use ________. a) exploratory research b) archival research c) causal research d) experimental research e)descriptive research

e) descriptive research

CH3: a marketing intermediary would most likely help a firm by _______. a) negotiating with labor unions regarding wages, hours, and benefits b) providing technical expertise on the production and design of goods c) competing directly with the firm in a certain product category d) supplying the raw materials needed for manufacturing the firms products e) moving the firms goods from production points to distribution centers

e) moving the firms goods from production points to distribution centers

CH5: Chloe is in the process of buying a new car. She carefully analyzes the features that he wants in a car, and perceives significant differences in price, quality, and features among three of her favorite models. She rates the models on each factor and ranks them in the order of preference. To which of the following stages of the buyer decision process will Chloe most likely proceed next? a) postpurchase behavior b) evaluation of alternatives c) information search d) need recognition e) purchase decision

e) purchase decision