Marketing 300 Unit 1 Practice Quiz
Marketers considering operations and trade with a specific country must consider whether or not the country belongs to a trading bloc. A trading bloc is a group of countries a) that have established a formal agreement to manage trade activities. b) using the same currency. c) with similar cultural shopping patterns. d) located next to each other. e) with similar political views.
a) (that have established a formal agreement to manage trade activities. A trading bloc consists of countries that have signed a cooperative trade agreement.)
Christy, who was born in 1955, advocated for "casual Friday" at her workplace. Christy is a member of which generational cohort? a) Baby Boomer b) Gen X c) Gen Y d) Gen Z e) Millennials
a) (Baby Boomer Baby Boomers are people born after World War II between 1946 and 1964.)
One example of a customer loyalty program is a) a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases. b) a quantity discount offered for large purchases at an office supply store. c) seasonal sales on top-selling items. d) an "everyday low price" policy on all products at a grocery store. e) an extensive customer service training program for new employees at a hair salon.
a) (a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases.)
In marketing terms, the trade of things of value between the buyer and the seller so that each is better off as a result is referred to as a) a marketing exchange. b) value cocreation. c) the marketing mix. d) a value transaction. e) relational marketing.
a) (a marketing exchange. Marketing is fundamentally about an exchange—the trade of things of value between the buyer and the seller—so that each is better off as a result.)
How a product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer are all elements of a) a marketing plan. b) a marketing exchange. c) supply chain logistics. d) production management. e) delivery of the value proposition.
a) (a marketing plan. A marketing plan specifies the marketing activities for a specific period of time and is broken down into various components—how the product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer.)
Julia is considering a career in marketing. She is concerned about the image of marketers as fast-talking, high-pressure people who care only about making a sale. When reading about the core aspects of marketing, Julia is relieved to see that in marketing a) all parties to an exchange should be satisfied. b) promotion is the most important consideration, followed by pricing decisions. c) decisions are made regarding how a product is designed. d) customers are not considered until the product is ready for sale. e) distribution is controlled by customers.
a) (all parties to an exchange should be satisfied Marketing is about satisfying customer needs and wants. If all parties to the exchange are satisfied, that indicates that marketers are considering customers' needs as well as the company's welfare.)
A firm's macroenvironment includes all of the following except a) competition. b) culture. c) demographics. d) economics. e) political/legal issues.
a) (competition.)
Beer marketers know that high school educated, working-class males from the ages of 25 to 40 make an attractive market for their products. This is a __________ segment of the beer market. a) demographic b) psychographic c) behavioral d) benefits e) geographic
a) (demographic)
When firms target several market segments with a different offering for each segment it is using which targeting strategy? a) differentiated b) mass marketing c) undifferentiated d) concentrated e) micromarketing
a) (differentiated)
Which of the following is one of the global entry strategies? a) direct investment b) countertrade c) offshoring d) infrastructure development e) trade agreements
a) (direct investments)
As it pertains to the marketing plan, understanding the causes of performance, regardless of whether that performance exceeded, met, or fell below the firm's goals a) enables firms to make appropriate adjustments. b) allows managers to demonstrate their effectiveness. c) offers insights into crafting an appropriate mission statement. d) should always be followed by eliminating underperforming SBUs. e) allows firms to better assess customer loyalty.
a) (enables firms to make appropriate adjustments. Once the causes of above- or below-goal performance are understood, firms can decide how the marketing plan should be adjusted. Some of the other answers might be true in some cases, but not in every case.)
When a company decides to minimize risk and enter a global market by shipping its products to buyers in other countries, this is known as a) exporting. b) franchising. c) a strategic alliance. d) a joint venture. e) direct investment.
a) (exporting.)
Garrett has just purchased a beer distributorship. He wants to increase the visibility of his firm in local markets, but he knows there are a number of regulations and socially accepted practices associated with promoting alcoholic beverages. According to the framework for ethical decision making, the first thing Garrett should do is to a) identify issues that need to be addressed. b) promote the firm's corporate social responsibility efforts. c) gather information and identify stakeholders. d) brainstorm alternatives. e) choose a course of action.
a) (identify issues that need to be addressed. Identifying potential ethical issues is the first step in the ethical decision-making process.)
Traditionally, marketing activities have been divided into product, price, place, and promotion. Select the term that best describes the four Ps. a) marketing mix b) marketing channel c) marketing plan d) marketing era e) marketing implementation
a) (marketing mix The marketing mix—or the four Ps—consists of product, price, place, and promotion.)
The activity, set of institutions, and process for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is called a) marketing. b) marketing research. c) market share analysis. d) market segmentation. e) market positioning.
a) (marketing.)
Many companies use the Internet to allow consumers to design customized products; for example, Nike allows customers to order shoes with custom color combinations. This is a form of a) micromarketing. b) concentrated targeting. c) psychographic segmentation. d) differentiated targeting. e) undifferentiated targeting.
a) (micromarketing. This is a form of micromarketing—on a one-to-one scale—because each consumer receives a customized product.)
Which of the following is not a question posed in the ethical decision-making metric? a) Would I want to see this action described on the front page of the local paper? b) Will this action help advance my career? c) Would the person I admire most engage in this activity? d) Can I give a clear explanation for my action? e) Will I be able to look at myself in the mirror and respect what I see?
b) (Will this action help advance my career?)
Segmentation, targeting, and positioning a) are terms that can be used interchangeably in developing marketing plans. b) are part of a firm's marketing strategy. c) should be done simultaneously so synergies can help streamline the effort. d) are part of the marketing plan but bear little direct relationship to the marketing mix. e) are optional elements of a marketing plan.
b) (are part of a firm's marketing strategy. The third step of the strategic marketing planning process, following defining the mission and objectives and conducting a situation analysis, is the STP process. Segmentation, targeting, and positioning are not interchangeable concepts—they are three separate steps of the process and are not executed simultaneously.)
The basic difference between a good and a service is that a good a) provides intangible benefits. b) can be physically touched. c) is always less expensive than a corresponding service. d) generates greater interest among consumers. e) is more quickly forgotten by consumers.
b) (can be physically touched The basic difference between a good and a service is that a good is a tangible thing that can be touched; a service is intangible.)
In BCG portfolio analysis, products in low-growth markets that have received heavy investment and now have excess funds available to support other products are called a) stars. b) cash cows. c) question marks. d) dogs. e) anchors.
b) (cash cows. Cash cows are product lines with high relative market share as the result of past investment, but in low-growth markets. They typically generate excess cash that can be used to support other product lines.)
The shared meanings, beliefs, morals, values, and customs of a group of people constitute their a) social concerns. b) culture. c) demographics. d) generational cohorts. e) religion.
b) (culture)
Franco uses a database software system to remind him when his customers should be ready to reorder his industrial cleaning products. With this reminder system, Franco contacts his customers when they are most likely to be "in the buying mode." Franco's system is part of a) C2C marketing. b) customer relationship management. c) a transactional marketing orientation. d) supply chain management. e) typical production-oriented era marketing practices.
b) (customer relationship management. Franco's system is one element of a customer relationship management system in that it tracks customers and seeks to meet their specific needs in order to build loyalty.)
Yvonne knows her firm must look at everything it does from a consumer's point of view. One major difficulty is that consumers' __________ change(s) over time. a) ethnic background b) needs, wants, and ability to purchase c) culture d) just-in-time processes e) demographics
b) (needs, wants, and ability to purchase The firm must continually scan the environment, because consumers' wants and needs are not static.)
Micromarketing is also referred to as a) loyalty marketing. b) one-to-one marketing. c) undifferentiated marketing. d) concentrated marketing. e) differentiated marketing.
b) (one-to-one marketing. When a firm tailors a product or service to suit an individual customer's wants or needs, it is undertaking an extreme form of segmentation called micromarketing or one-to-one marketing.)
For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements with other countries creates a) weaknesses. b) opportunities. c) strengths. d) threats. e) limitations.
b) (opportunities. Expansion of trade agreements is an external factor that could be favorable for firms to take advantage of. An external positive factor is an opportunity.)
We often see advertisements touting a product as being made with natural ingredients, or being long-lasting. Marketers using these types of promotions are positioning their products based primarily on a) the value proposition. b) product attributes. c) symbols. d) competitive comparisons. e) profitability.
b) (product attributes. Natural ingredients and long-lasting effects are examples of attributes that may be salient (important) to the target market.)
The ethical decision-making framework includes all of the following steps *except* a) identify issues. b) promote the firm's corporate social responsibility efforts. c) gather information and identify stakeholders. d) brainstorm alternatives. e) choose a course of action.
b) (promote the firm's corporate social responsibility efforts. Corporate social responsibility is separate from the ethical decision-making framework)
Xavier is analyzing potential market segments. He should carefully seek potential customers who have both an interest in his products and a) a thorough knowledge of his brand messages. b) the ability to buy them. c) knowledge of competing products. d) the ability to negotiate discounts. e) are removed from traditional marketing alternatives.
b) (the ability to buy them. If Xavier selects customers with an interest in the kinds of products he offers and the ability to purchase, he can communicate the value his offerings provide and offer competitive comparisons as part of his marketing mix.)
The first "latchkey" children belong to which generational cohort? a) Baby Boomers b) Generation W c) Generation X d) Generation Y e) Generation Z
c) (Generation X Generation X children grew up in homes in which both parents worked.)
__________ involves defining the firm's marketing mix variables so that target customers have a clear, distinctive, and desirable understanding of the firm's offerings relative to competitors' offerings. a) Processing b) Perceptualizing c) Positioning d) Proportioning e) Prospecting
c) (Positioning This is the definition of positioning, the final step in the STP process.)
When a pharmaceutical company develops a new medication, it typically applies for a patent in order to prevent competitors from developing copycat products for several years. Pharmaceutical companies apply for patents to establish a) an operational excellence macro strategy. b) a market penetration growth strategy. c) a sustainable competitive advantage. d) an efficient supply chain. e) product efficiency.
c) (a sustainable competitive advantage. The patent protects the company's product from imitation, thus creating a competitive advantage that is sustainable through the life of the patent.)
__________ segmentation is the segmentation method most directly related to value creation for consumers. a) Geographic b) Demographic c) Psychographic d) Benefit e) Geodeomographic
d) (Benefit Benefit segmentation seeks to segment customers based on the benefits they seek—in other words, the value they will obtain—from the product.)
Nordstrom, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputation for excellent customer service will most likely result in a) product design excellence. b) mission statement satisfaction. c) sustainable price decreases. d) a sustainable competitive advantage. e) producer excellence.
d) (a sustainable competitive advantage. This is a good example of a potential sustainable competitive advantage based on customer service (i.e., a customer excellence strategy).)
By offering environmentally responsible products, green marketers a) undercut prices of nonenvironmentally responsible marketers. b) keep costs much lower than those of competitors. c) make consumers feel guilty for buying other products. d) add value that other products do not have. e) all of these
d) (add value that other products do not have. Environmentally responsible products have additional value for consumers to whom protecting the environment is important.)
Introducing newly developed products or services to a market segment the company is not currently serving is called a) product development. b) market development. c) market penetration. d) diversification. e) product proliferation.
d) (diversification.)
For each target market, General Imaging Corporation, a manufacturer of imaging equipment, will engage in positioning by adjusting its marketing mix variables in order to give customers a) a more flexible supply chain strategy. b) a perceptual map of the imaging landscape. c) more product features than the competition offers. d) lower prices than the competition offers. e) a clear, distinctive, and desirable understanding of their products relative to competing products.
e) (a clear, distinctive, and desirable understanding of their products relative to competing products. Positioning is the process of defining marketing mix variables so that target customers have a clear, distinctive, desirable understanding of what the product does or represents in comparison with competing products.)
Four frequently used targeting strategies are the micromarketing, undifferentiated, differentiated, and __________ targeting strategies. a) geographic b) benefit-based c) economic d) global e) concentrated
e) (concentrated)
If McDonald's wanted to change its marketing strategy in response to the social trends outlined in the text, it might consider all of the following ideas except a) offering an expanded menu of healthy options. b) making nutritional information readily available to consumers. c) using recycled paper in its food packaging. d) using solar power in its restaurants. e) creating an advertising campaign targeting elementary schoolchildren.
e) (creating an advertising campaign targeting elementary schoolchildren. Targeting preteens is related to demographic factors, not a current social trend, and in fact would probably be considered to work against the social trend toward health and wellness, given that many of McDonald's menu items are considered to be unhealthy.)
Karen has identified four potential market segments for her Rent-A-Chef home meal catering service. The next step is to a) categorize each market segment by consumer demographics. b) establish her overall objectives. c) decide on a targeting strategy. d) develop a positioning strategy. e) evaluate the attractiveness of each segment.
e) (evaluate the attractiveness of each segment.)
Culture affects a) how consumers decide to make their purchases. b) what consumers decide to purchase. c) when consumers decide to make their purchases. d) where consumers decide to make their purchases. e) every aspect of consumers' purchase decisions.
e) (every aspect of consumers' purchase decisions.)
According to purchasing power parity theory, if __________ is(are) in equilibrium, products will cost the same in each country. a) imports and exports b) consumer spending c) interest rates d) domestic products e) exchange rates
e) (exchange rates The purchasing power parity (PPP) theory holds that if exchange rates are in equilibrium, products should cost the same in each country. In that case, the Big Mac Index (an index comparing the cost of a Big Mac wherever it is sold throughout the world) would be identical for each country.)
Airlines were among the first retailers to embrace loyalty segmentation when they created a) business-class seating. b) 30-day advance pricing. c) fuel surcharges. d) in-flight movies. e) frequent-flyer programs.
e) (frequent-flyer programs.)
Samantha is charged with assessing her company's external environment as part of a SWOT analysis. Samantha will study her company's a) strengths and weaknesses. b) sales history. c) pension plan. d) product specifications. e) opportunities and threats.
e) (opportunities and threats.)
In 2007, Apple Computer introduced its new iPhone, adding a cellular telephone, a camera, and Internet access to its iPod. The company was pursuing a(n) __________ strategy. a) market development b) market penetration c) operational excellence d) customer excellence e) product development
e) (product development Apple was creating a new product for its existing customers, which is a product development strategy. Some people might believe that the iPhone wasn't for Apple's existing customers but was for new customers, which would make "diversification" the best answer. But since that answer isn't offered, "product development" is the best of the remaining examples.)
For a segmentation strategy to be successful, the customers in the segment must react similarly and positively to the firm's marketing mix. In other words, the market segment must be a) substantial. b) perceptive. c) identifiable. d) reachable. e) responsive.
e) (responsive.)
For some products, marketers can combine education level with other data like occupation and income to obtain a) a sense of consumers' regional culture. b) consumers' value sensitivity quotient (VSQ). c) the educational value equation. d) complete profiles of individual consumers. e) useful predictions of purchase behavior.
e) (useful predictions of purchase behavior. Certain habits—such as preferences for entertainment—can be predicted with reasonable accuracy from education, occupation, and income.)
Franco, a former retailer, has been living in the United States for five years and wants to start a business. He does not have an existing firm or a product, and he doesn't have a lot of capital, but since he loves McDonald's food, he decides to a) open a McDonald's franchise. b) directly invest in McDonald's. c) export McDonald's products to other countries. d) form a strategic alliance with McDonald's. e) form a joint venture with McDonald's.
a) (open a McDonald's franchise. McDonald's is a global franchisor. A franchising contract allows the franchisee to operate a business—a retail product or service firm or a B2B provider—using the name and business format developed and supported by the franchisor.)
The idea that a good product will sell itself is associated with the __________ era of marketing. a) production-oriented b) sales-oriented c) market-oriented d) value-based marketing e) retailing-oriented
a) (production-oriented In the production-oriented era, the assumption was that if companies built good products, they would sell without any particular effort.)
Education marketers know that the primary motivations of most nontraditional college students are self-respect and self-fulfillment, so they craft their marketing message to emphasize the benefits these consumers are looking for in a college education. Which type of segmentation method was used to segment this market? a) psychographics b) demographics c) geographics d) geodemographics e) behavior
a) (psychographics Psychographics is related to the way we describe ourselves—our self-concept, values, and lifestyle. Psychographics studies how people self-select, based on the characteristics of how they choose to occupy their time (behavior) and what underlying psychological reasons determine those choices.)
When Starbucks first opened, many critics suggested, "No one will pay $4 for a cup of coffee." Starbucks's critics suggested consumers would not be __________ to the company's offerings. a) responsive b) perceptive c) identifiable d) reachable e) quantifiable
a) (responsive A segment is responsive if its members react similarly and positively to the marketing mix. Early critics did not believe that consumers would respond positively to the offer of a $4 cup of coffee.)
After identifying various market segments that her company could pursue, Lisa evaluated each segment's attractiveness based on size, income, and accessibility. Lisa was involved in a) target marketing. b) situation analysis. c) diversification. d) positioning. e) market penetration estimation.
a) (target marketing. A key component of target marketing is the evaluation of potential target segments' attractiveness.)
Which of the following defines a value proposition? a) the unique value that a product or service provides to customers b) a special discount offer dropping the price c) an advertisement that talks about value d) a display of the position of products or brands in the consumer's mind e) the one feature that will prompt a customer to buy the product
a) (the unique value that a product or service provides to customers)
Some banks have begun offering special accounts designed to attract junior high school students. These kids save in such small amounts that the accounts cost banks more to maintain than they are worth. But bankers know that consumers are creatures of habit and hope that the young people they serve now will become adult customers. These banks recognize a) that operational excellence is an important macro strategy. b) the lifetime value of customers. c) that product excellence leads to loyal customers. d) the importance of making decisions based on short-term results. e) that as long as customers bring in some revenue, costs do not matter.
b) (the lifetime value of customers. By spending money now in the hope of receiving revenues later, banks are recognizing that the lifetime value of a customer relationship must be considered when choosing target markets. This does not mean that costs don't matter at all, but it means that a relationship that is initially unprofitable may become profitable as it continues.)
Jim wants to position his firm against his competitors. In doing so he should a) never select a competitor in the same neighborhood. b) avoid making the competitor's product look undesirable. c) avoid looking too much like the competitor so that he'd confuse the target segment. d) avoid discussing the strengths of his product so that competitors won't be aware of his product quality. e) avoid discussing the weaknesses of his competitors so they won't retaliate.
c) (avoid looking too much like the competitor so that he'd confuse the target segment. One danger in positioning against competitors is that the firm may end up confusing customers unless a clear distinction is made between the firm's products and those of competitors.)
When marketers look at advertising media they often begin with viewer or listener profiles such as age, income, gender, and race. They then compare the media profile with their target audience. These marketers are using __________ to see if the media "fit" with their advertising agenda. a) country culture b) regional culture c) demographics d) micromarketing measures e) scenario planning
c) (demographics)
Psychographics is the segmentation method that delves into how consumers a) adjust to demographic changes. b) allocate scarce incomes to a variety of goods and services. c) describe themselves. d) value their livelihoods. e) believe other people see them.
c) (describe themselves. Psychographics is related to the way we describe ourselves—our self-concept, values, and lifestyle)
If a firm wants to develop a sustainable competitive advantage, it should a) begin an aggressive campaign to buy up competitors. b) copy the innovative features of other firms that are attractive to customers. c) examine its operations and customer relations to identify significant things competitors cannot easily copy. d) increase its marketing budget so that it outspends its competitors. e) arrange to meet with competitors to discuss how to avoid direct competition.
c) (examine its operations and customer relations to identify significant things competitors cannot easily copy. A sustainable competitive advantage comes from doing things that add value and that are not easily imitated by competitors. The other options do not achieve this objective.)
India, like some other countries, may require entering firms to create _________ when expanding into their markets, limiting outsiders' control of businesses. a) franchises b) export promotions c) joint ventures d) direct investments e) strategic alliances
c) (joint ventures A joint venture is a business formed when two or more firms pool their resources. It is a medium-risk strategy for global market entry. By requiring that foreign firms engage in joint ventures to enter the market, India helps ensure that a local firm can retain partial ownership of the venture.)
An advance in technology called RFID makes it easier for manufacturers, distributors, and retailers to track items through production, distribution, and sales. This advance helps the firm a) increase value to the consumer through media effectiveness promotion. b) tailor its marketing messages. c) meet inventory needs. d) communicate with consumers on social media sites. e) replace services with products.
c) (meet inventory needs. Some of the other options address ways that technology can help firms communicate with consumers; however, the question asks about members of the supply chain using technology; inventory management is an example of how the supply chain can benefit from technology.)
In a SWOT analysis, increasing gasoline prices would represent a potential __________ for manufacturers of electric cars. a) weakness b) threat c) opportunity d) operational advantage e) locational advantage
c) (opportunity Higher gas prices should make consumers more likely to consider buying electric cars, so this is a positive factor. It is external to the firm since it is beyond the firm's control. An external positive factor is an opportunity.)
A __________ is often used to illustrate the position of a firm's products or brands in consumers' minds. a) mass marketing analysis b) psychographic profile c) perceptual map d) loyalty timeline e) PRIZM analysis
c) (perceptual map Perceptual maps show the position of a firm's products and those of competitors in the minds of consumers.)
Whenever Donald calls on potential pest control customers, he emphasizes the fact that, unlike the national franchise competitors, he is a local business person and has been in business over 20 years. Donald is __________ his business relative to his competition. a) segmenting b) packaging c) positioning d) pricing e) targeting
c) (positioning Donald is positioning his business relative to the competition by focusing on his investment in the local neighborhood and his years of experience serving local customers.)
Marketers have found that __________ segmentation is often more useful for predicting consumer behavior than __________ segmentation. a) demographic; psychographic b) geographic; geodemographic c) psychographic; demographic d) demographic; behavioral e) demographic; benefit
c) (psychographic; demographic Psychographics, with its focus on values and lifestyles, is often more useful for predicting behavior than are demographics, which generalize across groups with similar ages, incomes, education levels, ethnicity, and/or gender. On the other hand, demographic information is usually much more readily available at lower expense)
If a firm adopts a CRM business philosophy, it most likely has a(n) _______ orientation with its customers. a) transactional b) external c) relational d) internal e) divisional
c) (relational A relational orientation refers to the building of relationships and the development of a better understanding of customers' needs and wants. A customer relationship management (CRM) program uses a set of strategies, programs, and systems that focus on identifying and building loyalty among the firm's most valued customers.)
The most important consideration when a firm chooses a global product strategy should be a) opportunities for countertrade. b) the effectiveness of the marketing team. c) the needs of the target market. d) the overall cost of the strategy. e) WTO regulations.
c) (the needs of the target market Just as with domestic marketing, all global marketing decisions should consider the needs of the target market.)
Sally is in the new marketing department of a midsized lawn and garden company. She is working on the first marketing plan the firm has ever used. She has defined the mission and objectives, and she just finished a situation analysis for the firm. The next step is to a) develop an advertising plan to promote the upcoming sales. b) find marketing interns or hire new staff to help with implementation. c) create pro forma financial statements to complete the package. d) identify and evaluate opportunities by conducting segmentation, targeting, and positioning analysis. e) use the Internet, catalogs, and vendor information to draw up a list of new products.
d) (identify and evaluate opportunities by conducting segmentation, targeting, and positioning analysis. The third step of the strategic marketing planning process, following defining the mission and objectives and conducting a situation analysis, is the STP process.)
Which of the following is a core aspect of marketing? a) satisfying as many needs as possible b) creating a product that everyone will want to buy c) setting prices lower than all competitors d) making product, place, promotion, and price decisions e) increasing the company's profit
d) (making product, place, promotion, and price decisions Most of these answers are too broad. Marketers don't generally try to sell to everyone, and they don't necessarily strive to have the lowest price. Instead, they select customers they can successfully serve and design a marketing mix (product, place, promotion, and price) to meet those needs.)
Ryan wants to sell personal website services to American soldiers in Afghanistan. Because of the difficulty of communicating with people in a war zone, Ryan may have trouble with this segment not being a) substantial. b) perceptive. c) identifiable. d) reachable. e) quantifiable.
d) (reachable. A segment is reachable if it can be reached for marketing communication and product distribution. Troops in Afghanistan may be difficult to reach for these purposes.)
To develop psychographic segments, the marketer must understand consumers' a) age, income, and education. b) gender, race, and religion. c) disposable personal income, benefit perceptions, and alternative egos. d) self-values, self-concept, and lifestyles. e) buying patterns and behaviors.
d) (self-values, self-concept, and lifestyles.)
In the immediate marketing environment, the first factor that affects the consumer is a) demographics. b) cultural values. c) social trends. d) the firm itself. e) technological advances.
d) (the firm itself. The components of the immediate environment are the firm, its competitors, and its corporate partners.)
For products like clothespins, which provide the same benefit for all consumers, marketers should probably use a(n) ________ strategy. a) concentrated targeting b) lifestyle segmentation c) benefit segmentation d) undifferentiated targeting e) differentiated segmentation
d) (undifferentiated targeting An undifferentiated targeting strategy is appropriate for products for which almost anyone can be a target customer, and where customer needs and wants are similar across all groups. In this strategy, a single marketing mix is designed for all customers.)