Marketing 380 Comprehensive Quiz Review

Which of the following is true of a strategic business unit?

A strategic unit has its own managers, resources, objectives, and competitors

According to Maslow's hierarchy, an art enthusiast joining an art appreciation society would be satisfying which level of her consumer needs?

Belongingness

Candace has been using the same shampoo brand for decades. When she finally dyes her hair, however, her hairdresser informs her that she will need to find a new shampoo that can help maintain her new color, prevent breakage, and condition her hair. Before going to the beauty supply store, Candace calls a few friends for recommendations and conducts web-based research on shampoos that address her specific needs. What can one infer about purchase decisions?

Buying shampoo can be a high-involvement purchase decision.

Mateo recently graduated from high school and it's always been assumed that he would go to college after graduation. His family believe education is important to success in life and know that Mateo will be able to achieve success with a combination of hard work, persistence, and knowledge. Mateo has been influenced by

Culture

Which of the following statements is true of tactical planning?

It is the basis for operational planning.

Philippe exhibited extended problem solving when he spent a large amount of time researching and comparing various criteria for a certain product or service. Which scenario in the choices below best describes the extended problem solving that Philippe used?

He pored over college catalogs and visited various campuses before choosing the one his son would attend.

Which of the following products is aimed at satisfying the esteem needs of people?

Luxury automobile

Helene made sure that her company car was equipped with OnStar in case she ever has car trouble or gets lost while traveling between appointments. OnStar is a service which can connect the car occupants with a personal service attendant to provide assistance. Which level of Maslow's hierarchy of needs is Helene addressing?

Safety needs

Matthew was grocery shopping with his girlfriend Alexandra for the first time. Matthew is on a tight budget and typically buys private label products such as breakfast cereal, paper towels, and laundry detergent to save money. However, he was uncomfortable purchasing the private label brands when Alexandra was with him, so he ended up with Rice Krispies cereal, Bounty paper towels, and Tide detergent. Matthew's purchases in this case were mostly driven by what type of factor?

Situational factors

Which of the following conditions would lead a company's marketers to find a new market, change prices, or compete in other ways to maintain an advantage?

When the threat of substitute products is high

Enterprise Rental Cars is able to secure favorable prices from major automobile manufacturers such as Ford and Chevrolet for their rental fleets due to the large number of vehicles they purchase each year. This is an example of _____, one of Porter's Five Forces related to marketplace competition.

buyer power

Consumers sometimes experience feelings of uncertainty after a major purchase. This post-purchase anxiety results from an imbalance among the person's knowledge, beliefs, or attitudes. For example, you may have had these feelings when you first went away to college. Was this the best school for me? Is this where I belong? This post-purchase anxiety is known as:

cognitive dissonance

YOU Inc., a radio cassette manufacturer, sold its business due to poor market shares. According to the BCG Matrix, the firm sold its business because the business had become a _____ as seen in its poor prospects and performance.

dog

Many characteristics were likely important when you chose which college or university to attend. For instance, students often consider the distance from home, programs of study offered, reputation of the school, success of the athletic teams, and cost of attendance. These different elements represent common:

evaluative criteria

Tabitha is interested in purchasing new head phones and has set a budget of up to $350. She's narrowed her choice to Bose, Beats by Dr. Dre and Exeo Psyko. These three brands are known as her _____ set:

evoked

During the search step of the consumer decision process, the consumer:

gathers information about the attainment of a desired state of affairs.

Grayson is majoring in marketing and going through the professional sales program. While he has never played golf, he wants to learn how since he heard "more business gets done on the golf course than in the office." Grayson does not know much about the game, but has asked his friend Drake for some advice. Drake is on the university's golf team and a trendsetter in using new golf equipment. Drake enjoys sharing his knowledge experiences about golf equipment with others, who respect his judgment and often follow his advice. As far as golf equipment goes, Drake can be considered a(n):

opinion leader

An example of a firm's strength discovered by a SWOT analysis might be:

ownership of valuable patents.

In a(n) _____, firms evaluate their products and divisions to determine the strongest and weakest.

portfolio analysis

Promotional schemes like frequent shopper programs provide incentives to loyal buyers. Considering Porter's Five Forces model, such offers will:

reduce the threat of new entrants.

It is crucial for marketers to focus their marketing strategies on opinion leaders in a group as opinion leaders:

represent the trendsetters who purchase products before others in the group and then influence the buying decisions of other group members

Jordan's girlfriend, Kerstyn, asked him to attend her sister's wedding with her. Kerstyn had never met Jordan's family and wanted to make a good first impression, so she spent a lot of time searching for a dress for the wedding. While she found one that she thought looked nice, when she tried it on she thought "this just isn't me!" We can say the dress didn't fit with Kerstyn's:

self-concept

According to the BCG market share/market growth matrix, the revenues earned from cash cows should be used to finance the growth of:

stars and question marks.

ADA Inc. stopped its production of oral care goods after determining apparel production to be its new primary objective. This is a direct result of the _____ planning process at ADA Inc.

strategic

As chief executive of Stalwart Shipfitting Company, a diversified producer of marine supplies and equipment, John needs a method for spotting promising product lines that warrant commitment of additional resources, as well as those that should be removed from the firm's product portfolio. A good choice for this firm at this stage would be to use

strategic business units.

A certain social networking corporation has the highest number of users in the social networking industry. This is an example of the firm's:

strength.

A SWOT analysis is designed to reveal, among other things, a firm's core competencies, which reflect its:

strengths.

An event management company decided to use radio advertising in order to promote an upcoming music festival. The executives of the company suggested various activities that could be used for the radio campaign. These activities are a part of the company's _____.

tactical planning efforts