marketing 1 prelim
What does a market segment consist of? A. A group of competitors B. The 4 Ps C. A mental image of a product D. A group of similar products E. A group of consumers who respond to the marketing effort in the same way
A group of consumers who respond to the marketing effort in the same way
__________ is the first stage in the new product adoption process. A. Adoption B. Trial C. Awareness D. Interest E. Evaluation
Awareness
Which of the five characteristics identified in the text has an inverse relationship with an innovation's rate of adoption? As this characteristic increases, the rate of adoption is slower. A. Divisibility B. Compatibility C. Communicability D. Complexity E. Relative advantage
Complexity
What is the key to building lasting customer relationships? A. Selling products at a discount B. Marketing on the web C. Offering everyday low prices D. Creating superior customer value and satisfaction .E. Creating unique products that competitors do not offer
Creating superior customer value and satisfaction
Which of the following is a personal factor that influences a consumer's buying behavior? A. Learning B. Occupation C. Family D. Social class E. Motivation
Occupation
Which adopter category consists of opinion leaders who adopt new ideas early but carefully? A. Late mainstream B. Lagging adopters C. Early mainstream D. Innovators E. Early adopters
Early adopters
Which generational age group is now forming brand relationships and represent tomorrow's markets? A. Gen X B. Gen Z C. Seniors D. Millennials E. Baby boomers
Gen Z Your answer is correct.
Dissonance-reducing buying behavior would result from which of the following conditions? A. High involvement and significant differences between brands B. High involvement and few differences between brands C. Low involvement and significant differences between brands D. Any buying situation with significant differences between brands E. Low involvement and few differences between brands
High involvement and few differences between brands
Which of the following statements regarding habitual buying behavior is correct? A. In these types of purchases buyers search extensively for information. B. In these types of purchases marketers often use price and sales promotion as incentives for purchas C. In these types of purchases buyers are highly committed to one brand. D. In these types of purchases buyers carefully weigh their choices. E. In these types of purchases buyers see significant differences between brands.
In these types of purchases marketers often use price and sales promotion as incentives for purchas
Which of the following correctly defines the consumer market? A. Consumers and the resellers who consumers buy their products from B. Consumers and the businesses who sell to them C. Individuals and households that buy goods and services for personal consumption D. Manufacturers, resellers, and consumers E. Consumers who spend more than $5,000 yearly on goods and services
Individuals and households that buy goods and services for personal consumption
A University is buying new overhead projectors for its classrooms. The University's Information Technology Department has been asked to provide specifications and recommendations for this purchase. The IT Department is playing which role in the University's buying center? A. Decider B. Gatekeeper C. User D. Influencer E. Buyer
Influencer
Which of the following statements about the use of digital and social media for B-to-B marketing is correct? A. It allows businesses to target individuals within a business who affect buying decisions. B. It reduces customer engagement and interaction. C. It is a very important medium but its use is currently limited to a small number of industries. D. It is growing slowly because business buyers are only occasionally connected to digital devices. E. It is growing rapidly but offers limited ways to engage customers compared to face-to-face selling.
It allows businesses to target individuals within a business who affect buying decisions.
In which way does increasing customer satisfaction disrupt the internal value chain? A. It can increase production costs, increase inventories, and disrupt production schedules. B. It aligns all functional areas with the goal of increasing customer value. C. It makes all departments open double quote"think consumer.close double quote" D. It will gain commitment from the entire company to engage customers. E. It will coordinate the efforts of different company departments to deliver customer value
It can increase production costs, increase inventories, and disrupt production schedules.
Which of the following statements is true regarding public policy and government regulation? A. Government regulation has no impact on international marketing. B. When public policy is developed, the government does not consider what is good for society; it focuses only on business. C. Legislation affecting business around the world has increased steadily over the years. D. Government regulation does not get involved in how companies compete with one another. E. Marketers can safely ignore government laws and regulation because they are rarely enforced
Legislation affecting business around the world has increased steadily over the years.
When Under Armour expanded its current products into global markets, it was pursuing which growth strategy? A. Market penetration B. Product development C. Diversification D. Market development E. Divesting
Market development
To grow sales, Under Armour increased its spending on advertising by 35 percent to increase sales in its current markets. Which growth strategy does this represent? A. Product development B. Market penetration C. Market development D. Diversification E. Divesting
Market penetration
Which of the following is a true statement regarding managing and measuring marketing return on investment (ROI)? A. Marketers are increasingly using measures such as customer acquisition and retention, customer engagement, and customer equity as measures of ROI. B. One reason ROI is used is because it is very easy to measure. C. There is a consistent definition of ROI used by marketers. D. One measure of ROI is sales generated by investments in marketing activities. E. Marketers are increasingly using customer-centered measures of ROI which include brand awareness, sales, and market share.
Marketers are increasingly using measures such as customer acquisition and retention, customer engagement, and customer equity as measures of ROI.
Which of the following statements regarding generational marketing is correct? A. Marketers need to form more precise age-specific segments within each generational group. B. The most effective way to segment by age is to use birth date as the basis. C. Marketers see Gen Z as one homogenous group. D. Each generation is typically at the same socioeconomic level. E. Marketers see baby boomers as one homogenous group.
Marketers need to form more precise age-specific segments within each generational group. Your answer is correct.
What is the correct order of the five stages in the buyer decision process? A. Information search, need recognition, evaluation of alternatives, the purchase decision, and postpurchase behavior B. Need recognition, the purchase decision, information search, evaluation of alternatives, and postpurchase behavior C. Evaluation of alternatives, information search, need recognition, the purchase decision, and postpurchase behavior D. Information search, evaluation of alternatives, need recognition, the purchase decision, and postpurchase behavior E. Need recognition, information search, evaluation of alternatives, the purchase decision, and postpurchase behavior
Need recognition, information search, evaluation of alternatives, the purchase decision, and postpurchase behavior
Which of the following correctly defines the institutional market? A. Manufacturers of consumer goods and services B. Resellers such as retailers and wholesalers C. The buying centers within organizations that make buying decisions D. Organizations that provide goods and services to people in their care E. All purchases made by the government
Organizations that provide goods and services to people in their care
What tends to be the most effective source of information when consumers make a buying decision? A. Salespeople B. The Internet C. Personal sources D. Mass media E. Advertisements
Personal sources
Which of the following is an important trend in the natural environment that marketers should be aware of? A. Lack of consumer concern for the environment B. Decreased pollution C. The increase in availability of raw materials D. Cost decreases for nonrenewable resources E. Products that require scarce resources will face large cost increases
Products that require scarce resources will face large cost increases
Which marketing orientation states that consumers will favor products that offer the most in quality, performance, and innovative features? A. The societal marketing concept B. The selling concept C. The marketing concept D. The production concept E. The product concept
The product concept
The BCG matrix classifies products which have a high market share in a low growth market as __________. A. dogs B. question marks C. cash cows D. stars E. cash stars
cash cows
The total combined lifetime value of a company's current and potential customers is called __________. A. share of customer B. market share C. customer retention D. customer loyalty E. customer equity
customer equity
A purse company's ads feature the cast of a popular reality show. Product sales increase significantly among the fans. From the fans' viewpoint, the cast is a(n) __________. A. opinion leader B. social network C. membership group D. subculture E. reference group
reference group
Marketing was once understood in the sense of making a sale. Today, marketing is understood in the new sense of __________. A. developing innovative products. B. telling customers what they need C. eliminating promotion D. satisfying customer needs E. not engaging customers
satisfying customer needs Your answer is correct.
In portfolio analysis, a company must identify __________, which are key businesses that make up the company. A. potential future businesses B. marketing intermediaries C. strategic business units D. competitors E. functional departments
strategic business units
What are the four major psychological factors that influence consumer buyer behavior? A. Motivation, perception, learning, and personality B. Perception, learning, beliefs and attitudes, and personality C. Motivation, perception, learning, and beliefs and attitudes D. Perception, learning, lifestyle, and social roles E. Motivation, learning, personality, and self-concept
Motivation, perception, learning, and beliefs and attitudes
Which of the following correctly lists marketing intermediaries? A. Resellers, physical distribution firms, customer markets, and competitors B. Resellers, physical distribution firms, marketing services agencies, and customer markets C. Suppliers, competitors, resellers, and publics D. Resellers, physical distribution firms, marketing services agencies, and financial intermediaries E. The company itself, competitors, suppliers, and customer markets
Resellers, physical distribution firms, marketing services agencies, and financial intermediaries
Which of the following correctly identifies the five core customer and marketplace concepts? A. (1) Needs, wants, and demands; (2) Market offerings; (3) Value and satisfaction; (4) Exchanges and relationships; and (5) Markets B. (1) Needs; (2) Wants; (3) Demands; (4) Market offerings; and (5) Markets C. (1) Needs, wants, and demands; (2) Products; (3) Value; (4) Customers; and (5) Competitors D. (1) Needs, wants, and demands; (2) Market offerings; (3) Value; (4) Satisfaction; and (5) Markets E. (1) Needs, wants, and demands; (2) Market offerings; (3) Value and satisfaction; (4) Competitors; and (5) Profits
1) Needs, wants, and demands; (2) Market offerings; (3) Value and satisfaction; (4) Exchanges and relationships; and (5) Markets Your answer is correct.
What are the main components of a marketing plan? A. An executive summary, situation analysis, objectives, marketing strategy, action programs, budgets and controls, and threats and opportunities B. A mission statement, objectives, and a business portfolio C. Segmentation, targeting, positioning D. Product, price, place, promotion E. The marketing budget and a marketing dashboard
An executive summary, situation analysis, objectives, marketing strategy, action programs, budgets and controls, and threats and opportunities
Which of the following statements regarding American subcultural groups is correct? A. Hispanics are generally not family oriented. B. Asian Americans are the most affluent U.S. demographic segment. C. Hispanic culture is homogenous and does not have subcultures within it. D. African American consumers are price conscious, so they are less motivated by quality and selection. E. Brands are of little importance to African American consumers.
Asian Americans are the most affluent U.S. demographic segment.
Which of the following is an accurate statement about building customer relationships in the modern marketing era? A. Digital technologies and social media have had little impact on relationship building. B. Customers have no role in managing relationships and creating personal brand experiences. C. New digital and social media relationship tools are a fad which marketers can safely ignore. D. Building relationships through consumer-generated content is expensive and takes time. Your answer is correct. E. Digital technologies and social media have caused a decline in customer-engagement marketing.
Building relationships through consumer-generated content is expensive and takes time. Your answer is correct.
What is the final step in the marketing process? A. Develop a customer value-driven strategy. B. Capture value from customers. C. Engage customers. D. Understand customer needs. E. Construct an integrated marketing program.
Capture value from customers. Your answer is correct.
Fathers were once ignored or portrayed as dolts in advertising, however today's advertisers are showing more caring and capable dads. This reflects which demographic trend? A. Changing dynamics in the American family B. A better educated population C. An aging population D. Increased ethnic diversity E. Geographic shifts in population
Changing dynamics in the American family
Which of the following statements is correct regarding consumer buying decisions? A. Marketers are interested in what and where consumers buy, but not how much they buy. B. A buyer's characteristics such as age and income have little influence on buying decisions. C. The consumer buying decision process is of little interest to marketers. D. Consumers are often unaware of what influences their purchases. E. The easiest part of studying buying decisions is determining the whys behind consumer buying behavior.
Consumers are often unaware of what influences their purchases.
How has the Great Recession of 2008dash-2009 affected marketers in terms of consumer attitudes? A. Consumers are showing an enthusiasm for frugality. B. Consumers' attitudes have not been affected by the recession. C. Consumers are less concerned with value for the dollar. D. Consumers are moving from mindful to mindless spending. E. Consumers are less willing to save their money.
Consumers are showing an enthusiasm for frugality. Your answer is correct.
Which of the following statements is correct regarding the influence of personal factors on buyer behavior? A. The concept of lifestyle is too complex to be of use to marketers. B. Marketers have found that it is not useful to define target markets in terms of life-cycle stage. C. The PRIZM segmentation system primarily classifies households based on their interest in social networks. D. Consumers tend to buy brands whose personality matches their own. .E. A person's occupation does not affect the goods they purchase.
Consumers tend to buy brands whose personality matches their own.
Which of the following statements regarding the buyer decision process is correct? A. Consumers may, in some situations, skip steps in the buyer decision process. B. Consumers go through all stages of the buyer decision process for every purchase situation. C. Consumers tend to take the same amount of time going through the stages of the buyer decision process. D. The nature of the product has no effect on the buyer decision process. E. The buyer decision process consists of four stages.
Consumers may, in some situations, skip steps in the buyer decision process.
What are the four general characteristics that influence consumer purchases? A. Cultural characteristics, social characteristics, personal characteristics, and psychological characteristics B. Economic characteristics, technological characteristics, demographic characteristics, and political characteristics C. Technological characteristics, social characteristics, personal characteristics, and the buyer decision process D. Cultural characteristics, technological characteristics, social characteristics, and personal characteristics E. Cultural characteristics, social characteristics, demographic characteristics, and the buyer decision process
Cultural characteristics, social characteristics, personal characteristics, and psychological characteristics
According to the text, what is the most basic cause of a person's wants and behaviors? A. Lifestyle B. Income C. Culture D. Personality E. Occupation
Culture
Which of the following is not one of the five marketing management functions? A. Customer service B. Control C. Planning D. Implementation E. Analysis
Customer service
What does a company do to start the strategic planning process? A. Define its overall purpose and mission. B. Identify the needs and wants of their customers. C. Perform a cost analysis. D. Plan their marketing mix. E. Analyze its competitors.
Define its overall purpose and mission.
When a firm starts up or buys a business outside of its current product line and markets, it is pursuing which growth strategy? A. Market development B. Diversification C. Divesting D. Market penetration E. Product development
Diversification
What are the two measurements used in the BCG matrix to classify strategic business units? A. Relative market share; return on investment (ROI) B. Relative market share; number of products the company produces C. Relative market share; market growth rate D. Market growth rate; return on investment (ROI) E. Market growth rate; degree of competitiveness
Relative market share; market growth rate
In determining which customers to serve, a company engages in which two marketing activities? A. Positioning and differentiation B. Segmentation and targeting C. Segmentation and positioning D. Targeting and positioning E. Segmentation and differentiation
Segmentation and targeting
The first step to a successful value-driven marketing strategy is to determine whom to serve with a market offering. To make this decision, marketers engage in which two activities? A. Segmenting and demand management B. Segmenting and positioning C. Targeting and positioning D. Customer management and demand management E. Segmenting and targeting
Segmenting and targeting
Which of the following correctly identifies the social factors that influence consumer buyer behavior? A. Family, social networks, social class, and subculture B. Small groups, social networks, social class, and subculture C. Small groups, social networks, family, and social roles and status D. Small groups, family, social class, and lifestyle E. Small groups, social networks, family, and social class
Small groups, social networks, family, and social roles and status
Which of the following statements regarding the current demographic environment is correct? A. There are few differences between different generational groups. B. The U.S. population is rapidly getting older. C. The ethnic diversity of the U.S. population should remain stable in the years to come. D. The LGBT community is not an attractive target for marketers. E. The combined size of the Millennials and Gen Z has resulted in the U.S. population getting younger
The U.S. population is rapidly getting older. Your answer is correct.
According to the text, what is the single most important demographic trend in the United States today? A. The changing age structure of the population .B. Changes in the structure of the American family C. Increasing diversity D. A better educated population E. Geographic population shifts
The changing age structure of the population Your answer is correct
Which of the following uses a sense-and-respond philosophy to promote a customer-centered marketing orientation? A. The marketing concept B. The selling concept C. The societal marketing concept D. The production concept E. The product concept
The marketing concept Your answer is correct.
What determines if a buyer is satisfied or dissatisfied with a purchase? A. The relationship between consumer expectations and perceived product performance B. How others feel about the purchase C. The amount of information gathered in the decision process D. Whether or not they experience cognitive dissonance E. The number of alternatives considered in the purchase decision
The relationship between consumer expectations and perceived product performance
In marketing terms, what is a market? A. A company's current customers B. A retail establishment C. The products that are sold to customers D. The set of actual and potential buyers of a product or service E. All sellers of a product or service
The set of actual and potential buyers of a product or service Your answer is correct.
Companies such asIBM, Walmart, and Google now look beyond economic gain and, in their marketing strategies, they also consider the well-being of customers, the depletion of natural resources, the viability of suppliers, and the interests of the local community. This reflects which marketing philosophy? A. The product concept B. The selling concept C. The production concept D. The marketing concept E. The societal marketing concept
The societal marketing concept
The actual and potential buyers in a market share which of the following characteristics? A. They do not engage in marketing. B. They have the same demographic profile. C. They are not affected by environmental forces. D. They have little influence over marketers. E. They share a particular need and/or want.
They share a particular need and/or want.
According to the simple model of buyer behavior, what is in a buyer's black box? A. The buyer's characteristics and the buyer's decision process B. Cultural forces C. The four Ps D. The buyer's response E. Postpurchase behavior
The buyer's characteristics and the buyer's decision process
What is the overall focus of strategic planning? A. To maximize profits B. To design a business portfolio C. To create a game plan for long-run survival and growth in consideration of changing marketing opportunities D. To ensure prices are lower than competitors E. To define the company's mission
To create a game plan for long-run survival and growth in consideration of changing marketing opportunities
What is the overall goal of marketing strategy? A. To segment the market and target specific segments B. To develop the marketing mix C. To identify competitors, suppliers, and publics D. To create customer value and build profitable relationships E. To position and differentiate the product
To create customer value and build profitable relationships
What is the purpose of a value proposition? A. To define the target market B. To determine the prices a company will charge for its products C. To differentiate and position a market offering in the marketplace D. To balance customer management with demand management E. To determine whom a company will serve with its market offerings.
To differentiate and position a market offering in the marketplace Your answer is correct.
One new technology marketers are adopting is radio frequency identification (RFID). What does this technology do? A. Identifies spam email before it is received B. Scans barcodes at point of purchase C. Weighs products at the point of purchase D. Tracks products and customers at various points in the distribution channel .E. Allows SmartPhones to send and receive text
Tracks products and customers at various points in the distribution channel
For which customer relationship group should a company make continuous relationship investments to delight, engage, retain, and grow them? A. Strangers B. Butterflies C. True friends D. Barnacles E. True believers
True friends Your answer is correct.
The primary goal of consistently delivering superior value is to ________. A. expand into global markets B. maximize profits C. keep costs down D. avoid the need to advertise E. build profitable customer relationships
build profitable customer relationships
Being proactive toward the marketing environment means that a __________. A. company watches the environment and reacts to changes B. company passively accepts the way things are C. company develops strategies to change the environment D. company avoids threats E. company watches the environment and follows what competitors do
company develops strategies to change the environment
When consumers engage in __________ buying behavior they go through a learning process, so it is most important that marketers understand information gathering and evaluation behavior. A. habitual B. dissonance-reducing C. low involvement D. complex E. variety-seeking
complex
The key element of successful marketing today is to __________. A. create value B. advertise on television C. run frequent promotions D. offer low prices E. develop one-of-a-kind products
create value Your answer is correct.
To improve the performance of the __________, many companies today are partnering with other members of the supply chain—suppliers, distributors, and customers. A. marketing system B. customer value delivery network C. internal value chain D. strategic plan E. partner-relationship network
customer value delivery network
The most important actors in the company's microenvironment are __________. A. publics B. customers .C. the company itself D. competitors E. suppliers
customers Your answer is correct
Effective positioning is based on __________. A. differentiation B. market share C. choosing which segments to profitably serve with a market offering D. identifying groups of consumers with similar needs E. eye level in-store shelf space
differentiation
Strategically, a company may phase out or sell an SBU. This is known as __________. A. harvesting B. holding C. divesting D. building E. milking
divesting
Many companies are going beyond government regulation and are developing strategies and practices that create a world economy that the planet can support indefinitely. This represents __________. A. sustained marketing B. environmental marketing C. pollution control D. green marketing E. environmental sustainability
environmental sustainability
People can be classified into adopter categories. Which two categories are the first to adopt a new product idea?
innovators and early adopters
The __________ consists of larger societal forces that affect how a company engages and serves its customers. A. macroenvironment B customer environment C. microenvironment D. competitive environment E. business environment
macroenvironment
Mission statements should be defined in terms of satisfying basic customer needs. In other words, they should be __________. A. relationship oriented B. media oriented C. product oriented D. market oriented E. price oriented
market oriented
Some retailers, such as the Dollar Store, Dollar Tree, and Family Dollar, profitably focus on buyers with modest means. This is an example of __________. A. the 4 Ps B. positioning C. the marketing mix D. market targeting E. packaging
market targeting
Engaging customers and managing profitable customer relationships is the simplest definition of ________. A. value B. a market C. advertising D. satisfaction E. marketing
marketing
A firm can be proactive by __________. A. reacting to changes in the environment as they occur B. pressing lawsuits to keep competitors in line C. accepting existing legislation D. waiting for other firms to respond to changes in the environment E. monitoring social media
pressing lawsuits to keep competitors in line
One important reason that business legislation is enacted is to __________. A. ensure that companies make profits B. remove legal regulations from a free market economy C. ensure that competition is unregulated D. provide legal guidelines for businesses and marketers without actually enforcing them E. protect consumers from unfair business practices
protect consumers from unfair business practices
One key role marketing plays in a company's strategic planning is to __________. A. work to add customer value so other departments do not have to B. provide a guiding philosophy C. eliminate the need to coordinate marketing with other departments D. focus on the customer while other departments formulate strategies E. allow other departments to not be concerned with marketing
provide a guiding philosophy
After defining its mission, the next step in strategic planning is to __________. A. set company objectives and goals B. plan marketing strategies C. design the business portfolio D. allocate resources to each product that is being marketed E. identify key strategic business units
set company objectives and goals
In today's global environment, everything and everyone are digitally connected to everything and everyone else. The term used to describe this is __________. A. digital media B. the Internet of Things C. the World Wide Web D. social media E. mobile marketing
the Internet of Things Your answer is correct.
To create and capture customer value, companies must engage the first step of the marketing process, which is __________. A. construct an integrated marketing program B. understand the marketplace and customer needs and wants C. create customer delight D. build profitable customer relationships E. design a customer value-driven marketing strategy
understand the marketplace and customer needs and wants Your answer is correct.
Two things can come between the intention to make a purchase and the actual purchase: the first is the attitudes of others and the second is __________. A. lack of information B. unexpected situational factors C. too many choices D. poor decision-making skills E. permission from others
unexpected situational factors
Companies who passively accept the marketing environment __________. A. assume that their strategic options are not bound by the current environment B. view it as uncontrollable and do not attempt to change it C. develop strategies to change the environment D. use lobbying to influence legislation E. form contractual agreements to control their distribution channels
view it as uncontrollable and do not attempt to change it
What is the correct order of the five stages of the new product adoption process? A. Awareness, interest, evaluation, trial, adoption B. Interest, awareness, evaluation, trial, adoption C. Awareness, interest, trial, adoption, evaluation D. Awareness, evaluation, interest, trial, adoption E. Awareness, interest, trial, evaluation, adoption
Awareness, interest, evaluation, trial, adoption
Which of the following correctly lists actors in a company's microenvironment? A. Publics, demographics, suppliers, competitors B. The economy, publics, competitors, suppliers C. Suppliers, marketing intermediaries, competitors, culture D. Suppliers, marketing intermediaries, technology, publics E. Competitors, marketing intermediaries, suppliers, publics
Competitors, marketing intermediaries, suppliers, publics
What are the three cultural factors that influence consumer buyer behavior? A. Culture, family, and lifestyle B. Culture, subculture, and family C. Culture, subculture, and lifestyle D. Culture, social class, and lifestyle E. Culture, subculture, and social class
Culture, subculture, and social class
__________ is the customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers. A. Objective value B. Customer-perceived value C. Satisfaction D. Demand E. Exchange
Customer-perceived value Your answer is correct.
Business-to-business marketing involves buying and selling goods or services by which of the following? A. Manufacturers, producers, retailers, consumers B. Manufacturers, producers, retailers, wholesalers C. Consumers, manufacturers, resellers, suppliers D. Manufacturers, retailers, consumers, wholesalers E. Manufacturers, producers, retailers, the government
Manufacturers, producers, retailers, wholesalers
Vince's Video has suffered in the current economy because fewer people have the money for videos and because more people use online streaming sites such as YouTube and Hulu. The videos that Vince's Video does sell are often outpriced by versions coming from China or Taiwan, or they are accused of being damaging to the environment. Which of the following marketing impacts has NOT affected Vince's Video? A. Not-for-profit marketing B. Rapid globalization C. Sustainable marketability D. The changing economic environment E. The digital age
Not-for-profit marketing This is the correct answer.
Items such as technical specifications, quantity, delivery time, return policies, and warranties are included in which stage of the buying decision process? A. Product specification B. Supplier selection C. Order-routine specification D. General need description E. Proposal solicitation
Order-routine specification
A sizable and growing market of consumers are seeking products such as natural, organic, and nutritional foods, fuel-efficient cars, and alternative medicines. This trend is attributed to which cultural value? A. People's views of organizations B. People's views toward nature C. People's views of themselves D. People's views toward society E. People's views of others
People's views toward nature
In the United States, patriotism has been increasing for the past 20 years. Marketers have responded with increased use of the "Made in America" appeal and patriotic themes. This reflects which aspect of culture? A. People's views of others B. People's views of organizations C. People's views toward society D. People's views of themselves E. People's views of nature
People's views toward society
What are the 4 Ps of marketing? A. Product, price, people, packaging B. Product, price, promotion, profit C. Product, promotion, price, packaging D. Product, price, place, promotion E. Product, people, price, promotion
Product, price, place, promotion Your answer is correct.
The four Ps of the marketing mix have been redefined in buyer's terms as the four As. Product design influences __________, price affects __________, place affects __________, and promotion influences __________. A. awareness; affordability; accessibility; acceptability B. acceptability; affordability; awareness; accessibility C. awareness; acceptability; affordability; accessibility D. acceptability; affordability; accessibility; awareness E. affordability; accessibility; acceptability; awareness
acceptability; affordability; accessibility; awareness
P&G launched their "Tide Loads of Hope" program, which provides mobile laundromats to families in disaster-stricken areas. P&G washes, dries, and folds clothes for these families free of charge. This is an example of __________. A. cause-related marketing B. putting profits ahead of social responsibility C. being socially irresponsible D. adhering to government regulation E. environmental sustainability
cause-related marketing
You are thirsty and decide to have an iced tea. Your thirst is a ________ and your choice of iced tea is a ________. A. need; want B. demand; want C. want; demand D. need; demand E. want; need
need; want Your answer is correct.
The demand for organic produce is growing. Green Acres Farms grows only organic vegetables. In a SWOT analysis, the rising demand for organic produce would be a(n) __________ for Green Acres Farms, and the fact that they grow only organic vegetables is a(n) __________. A. opportunity; opportunity B. opportunity; strength C. opportunity; threat D. threat; strength E. strength; opportunity
opportunity; strength
Market offerings include ________. A. needs, wants, and demands B. value, satisfaction, and markets C. demands, exchanges, and relationships D. products, services, and exchanges E. products, services, and experiences
products, services, and experiences
According to the growth-share matrix, __________ are high-share, high-growth products. When the market growth slows these products become __________. A. question marks; stars B. question marks; cash cows C. stars; cash cows D. cash cows; stars E. cash cows; dogs
stars; cash cows
