exam 1 mkt

How might a technology company like Apple ensure that it behaves in a socially responsible way toward its customers?

It can protect the privacy of personal information collected on its website.

The shift of population from the Rust Belt in the North to the Sun Belt in the South and Southwest will likely

reduce regional cultural differences.

The first objective in the evaluate performance phase of the marketing planning process is to

review implementation programs and results using metrics.

Which of the following are commonly found in distribution and fulfillment centers to fill orders for stores or individual customers?

robots

Kenisha's company is facing a difficult ethical issue. The firm has identified the various stakeholders and their issues and gathered the available data. Everyone with an interest in the issue has engaged in brainstorming and evaluating alternatives. Management reviewed and refined the alternatives. It should now choose the course of action that

seems best after weighing the concerns of all stakeholders.

Which of the following actions would be the most likely to support and enhance an operational excellence macro strategy?

3M Corporation implementing new software to improve communication with its suppliers

The first "latchkey" children belong to which generational cohort?

Generation X

Which ethnic group in the United States tends to earn more, have more schooling, and be more likely to be professionally employed or own a business?

Asian American

As use of the Internet took off, car manufacturers were tempted to sell directly to consumers, but decided instead to continue to sell through their existing dealer networks. The car manufacturers considered switching from ________ to ________ marketing.

B2B; B2C

Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students. These bulletin boards increase ________ marketing.

C2C

A meat-packing company discovers that six months ago it unknowingly distributed meat from a cloned cow. The firm is unaware of any specific risks to humans consuming the meat; however, some scientists have raised questions, and some consumers are afraid of possible future problems. The meat company has to decide whether or not to make this matter public. How should it begin the process of making an ethical decision?

Identify the issues raised by the situation.

If the inflation rate in Mexico was twice the rate in the United States, but the Mexican monetary authorities kept the peso-dollar exchange rate almost constant, which of the following would be true?

Mexican products would be more expensive, while U.S.-made products would become comparatively less expensive.

Which of the following is true with regard to mobile advertising?

Within just a couple of years, mobile advertising will be a bigger market than digital advertising.

Which of the following is true of changing gender roles?

Women graduate from high school and college at greater rates than men.

The idea of value-based marketing requires firms to charge a price that

captures the value customers perceive that they are receiving.

When marketers work in controversial or polluting industries such as tobacco or fossil fuels, their central activities largely bar them from becoming

conscious marketers.

When companies embrace ________, they appeal not only to their shareholders but also to all of their key stakeholders.

conscious marketing

Laurine is considering the question, "Did our actions have a negative impact on any stakeholder group?" She is addressing marketing ethical issues in the ________ phase of the strategic marketing planning process.

control

Sandstone Trucking provides transportation services for Betty's Best Bagels so that Betty's stores always have fresh stock. Sandstone Trucking is an example of a

corporate partner.

Ironically, while the leaders of Enron Corporation were manipulating the company's finances for their personal benefit, the company was a major donor to Houston area charities. Enron had unethical business practices but was also

demonstrating corporate social responsibility.

Dream Home Solutions has been a successful small home-remodeling firm for years. The owner pays subcontractors slightly more than the usual rate for different tasks, reducing the company's gross margin. Dream Home rarely changes subcontractors, has relatively few complaints from home buyers, and is able to get quick responses from subcontractors when buyers do have problems. Dream Home is engaged in

effective supply chain management.

The definition of corporate social responsibility addresses

environmental impact.

Matthew has been asked to approve a marketing campaign that, although it is not illegal, promotes food products to children. He is concerned that the food products are not particularly nutritious, although they are not as bad for children as some others sold by competitors. By using the ethical decision-making metric, Matthew will

evaluate the alternative using a series of questions.

In the summer of 2002, the euro was valued at slightly less than US$1. By 2008, it had risen to an all-time high of $1.60, but in late 2017, the euro was once again slightly less than $1. This change in value is called

foreign currency fluctuations.

Vikram's company manufactures industrial ladders. He is concerned that consumers who do not understand ladder safety will purchase these extra-tall ladders and injure themselves. During which phase of the strategic marketing planning process should this issue be addressed?

implementation

Rashid has been directed by his regional marketing manager to cut prices on seasonal items, place an ad in the local paper, and tell distributors to reduce deliveries for the next month. Rashid is engaged in

implementing marketing mix and resources.

The "Milk Life" advertising campaign, designed to increase awareness of the health benefits of milk, was intended to help market a(n)

industry

Whenever Kristy has a new manicure customer, she invites the person to be on her e-mail distribution list. In the process, in addition to exchanging her manicure service for payment, Kristy is gathering

information.

Hunter Corporation's mission statement

is a broad description of a firm's objectives and the scope of activities it plans to undertake.

If McDonald's wanted to change its marketing strategy in response to the social trends outlined in the text, it might consider which of the following?

making nutritional information readily available to consumers. on packages and menus

Many marketing students initially overlook the importance of marketing channel management because

many of these activities take place behind the scenes.

Traditionally, marketing activities have been divided into product, price, place, and promotion. Select the term that best describes the four Ps.

marketing mix

The Mayo Clinic in Minnesota is known for top-quality medical care. For decades, even presidents and dictators from around the world flew to the Mayo Clinic to utilize its services. The Mayo Clinic used its reputation to create additional medical facilities in Jacksonville, Florida, and elsewhere. This is an example of a firm focusing its efforts on satisfying customer needs that

match its core competencies.

When making decisions, managers often have to decide between doing what is beneficial for themselves (and possibly the firm) in the short run and doing what is right and beneficial for the firm and for society in the long run. To address this conflict, a firm

must align the short-term goals of each employee with the long-term, overriding goals of the firm.

For many years, Southwest Airlines distinguished itself as the low-cost airline. Now, many other low-cost competitors have entered the market. Similarly, Southwest was one of the first airlines to offer online ticketing. Now, all airlines have online ticketing. These examples suggest that

no single strategy is likely to be sufficient to build a sustainable competitive advantage.

Firms achieve ________ through efficient procedures and excellent supply chain management.

operational excellence

In the ________ stage, a firm will decide what level of commitment to its ethical policies and standards it is willing to declare publicly and how the firm plans to balance the needs of its various stakeholders.

planning

Which of the following is the best way to build a sustainable competitive advantage using product excellence?

positioning the product using a clear, distinctive, desirable brand image

Grace phoned her auto insurance agent to renew her policy. The agent told her about new types of insurance now available—to cover her apartment, or even the engagement ring she just got from her fiancé. The agent was pursuing a ________ growth strategy.

product development

Marvel was among the first content providers to launch dedicated series on Netflix, such as Jessica Jones, The Defenders, Iron Fist, and Luke Cage. It then decided to create a new channel for getting new offerings to consumers. The company was pursuing a(n) ________ strategy.

product development

When Marvel launched several successful series on Netflix, including Jessica Jones, The Defenders, Iron Fist, and Luke Cage, it employed a ________ strategy.

product development

Customers around the world know Pepsi and consider it a primary "go-to" brand if they want a refreshing drink. This positioning reflects Pepsi's

product excellence.

Red Robin suggests that its diners check in to its locations using their phones. This demonstrates the use of ________ to market a product.

social media

After identifying various market segments that her company could pursue, Shannon evaluated each segment's attractiveness based on size, income, and accessibility. Shannon was involved in

target marketing.

Even though they operate on a limited schedule and offer few extra services, discount, no-frill airlines like Allegiant have been successful. Consumers obviously consider

the benefit of lower prices to be greater than the cost of reduced services and less convenience.

In the immediate marketing environment, the first factor that affects the consumer is

the company's capabilities.

The center of all marketing efforts is

the consumer.

Marketing ethics is concerned with

the sale of products or services that may damage the environment.

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes

the value of their time and energy.

According to your text, in the broadest terms, the "marketplace" refers to

the world of trade.