Marketing Exam #1

A marketing plan provides...

​provides a framework for implementing and controlling marketing activities.

Sterling is a corn farmer. He sells his corn to stores such as Kroger. What type of competitive structure does Jerry most likely operate in?

Pure competition

Which of the following survey methods has the potential to offer quick response at a lower cost than traditional mail and telephone surveys?

Online surveys

If all the gas stations in a city collaborated to determine what gas prices should be charged, they would be violating the

Sherman Antitrust Act

Which of the following regulatory groups is a system of nongovernmental, independent, local regulatory agencies supported by local businesses?

The Better Business Bureau

Designing research procedures that produce reliable marketing data means that a. others using the same procedure will get almost identical data. b. sampling must be done in a completely random manner. c. the procedure must give results that support the hypothesis. d. the procedure must not give results that contradict other research studies. e. the procedure may give results that contradict other research studies.

a. others using the same procedure will get almost identical data.

Verizon implements a program of texting its current customers to find out what changes they would like to see in the services provided. The firm is exhibiting characteristics associated with which of the following orientations? a. Sales b. Market c. Social d. Production e. Development

b. Market

SUP ATX is the largest stand-up paddle board maker based in Austin, Texas, that markets their products directly to consumers via their website. SUP ATX mission is to spread the sport of stand up paddle surfing from oceans to lakes and rivers around the world. Stand up paddle surfing or boarding is a relatively new sport but is growing due to the relatively low price of the boards, ease in transportation and storage of the boards as well as the sport providing a fun way to exercise and allow users to enjoy the outdoors. Which of the following would be the "best" target market for SUP ATX paddle board products? a. high school students aged 15 to 18 who are looking for alternatives to traditional sports activities b. active adults aged 24 to 40 who enjoy outdoor recreational activities c. professional surfers who compete in surfing competitions across the globe d. ​sporting goods retailers such as Dicks Sports who are seeking new products to sell in their retail stores

b. active adults aged 24 to 40 who enjoy outdoor recreational activities

The marketing concept focuses on a. creating maximum visibility for the firm. b. satisfying customers' needs in a way that helps to achieve organizational objectives. c. ​maximizing sales in a way that helps to achieve organizational objectives. d. achieving the goals of top executives. e. maximizing market share in a way that helps to achieve organizational objectives.

b. satisfying customers' needs in a way that helps to achieve organizational objectives.

Marketing activities are a. used by small businesses and small nonprofit organizations the most. b. used by all sizes of organizations including for-profit, nonprofit, and government agencies. c. used by all types and sizes of businesses but are not used by nonprofit organizations. d. limited to use by larger for-profit and nonprofit organizations. e. implemented only to increase profits for the organization and to expand the scope of its customer base.

b. used by all sizes of organizations including for-profit, nonprofit, and government agencies.

Pepsi executives realized that more consumers are concerned with health. It has since expanded into the bottled water and bottled juice markets. This is an example of a firm identifying and capitalizing on a a. strength b. competitive advantage c. market opportunity d. marketing strategy e. core competency

c. market opportunity

For the Christmas season, a major toy retailer decided to donate to Angel Tree, an organization that provides gifts to the families of those who are incarcerated. The retailer claimed that it would donate 10% of the proceeds of all toys sold in the month of December to the Angel Tree organization. This is an example of

cause-related marketing

____ are formalized rules and standards that describe what a company expects of its employees in terms of ethical behavior.

codes of conduct

​Marketing is the process of

creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment.

​Long-term relationships with profitable customers is the key objective of

customer relationship management

Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship? a. Reducing the seller's inventory b. Profits for the seller c. A good bargain on the product for the buyer d. Satisfaction for both the buyer and seller e. One party having to compromise in the exchange

d. Satisfaction for both the buyer and seller

PepsiCo has recognized the significant increase in population diversity within the U.S. soft-drink market. Which one of the following best illustrates the company's integration of this knowledge into its marketing strategy? a. Ads featuring nostalgic Americana b. Ads in The New Yorker and Reader's Digest c. Ads aimed at children d. Bonus coupons in Pepsi twelve-packs e. Ads featuring Hispanic actors and Tejano music

e. Ads featuring Hispanic actors and Tejano music

If Papa John's wants to determine the impact of different coupon offers on pizza unit sales, it needs to conduct a. stratified sampling. b. survey research. c. hypothesis development. d. exploratory research. e. experimental research

e. experimental research

A valid study a. uses random sampling. b. verifies expected results. c. results in a causal relationship between the independent and dependent variables. d. portrays the population being studied. e. measures what it is supposed to.

e. measures what it is supposed to.

McDonald's supports and funds Ronald McDonald houses for the families of terminally ill children to stay in to be near their loved ones. McDonald's action demonstrates the fulfillment of ____ responsibility. a. economic b. societal c. legal d. ethical e. philanthropic

e. philanthropic

Pointing out any deficiencies and the possible reasons for them should be done in the ____ step of the marketing research process. a. designing the research project b. collecting data c. interpreting research findings d. defining the issue or problem e. reporting research findings

e. reporting research findings

The objective of sampling in marketing research is to a. control independent variables that might influence research results. b. obtain responses from as many people as possible. c. provide data that can be used to test the hypotheses being investigated. d. ensure that measures in the study are reliable. e. select representative units from a total population.

e. select representative units from a total population.

Collecting information from secondary sources such as business, government, trade, and general-interest publications plays an important role in

environmental scanning

When more information is needed about a problem and a tentative hypothesis needs to be made more specific, marketers usually conduct ____ research.

exploratory

Soft drink sales are declining as more consumers are concerned about their health. This represents a change in the __________. As a result, soft drink companies have begun releasing smaller sized soft drinks and soft drinks with less sugar.

marketing environment

Laurel Dudley and seven other people were paid to get together and discuss a new product idea proposed by Johnson & Johnson. Researchers observed the interaction of the group. During the discussion, Laurel was annoyed that Seth, another participant, seemed to "hog" the discussion and didn't give others a chance to speak. This is an example of a problem when using

focus-group interview

People for the Ethical Treatment of Animals (PETA) has demonstrated against the sale of coats made of animal furs. PETA's efforts to change shoppers' attitudes represent a ____ force for fur retailers.

horticultural

An informed guess or assumption about a certain problem or set of circumstances is known as

hypothesis

​The Church of the Latter Day Saints has used advertising for many years, airing a commercial TV spot that shows parents actively playing games with their children. The Church is using marketing to promote its

ideas

Marketing planning and ______ are closely linked in successful companies.

implementation

The amount of money received through wages, rents, investments, pensions, and subsidies is called

income

King Mechanic is a very profitable automobile repair shop. The company is well known for its great service and involvement in the community, but it fails to properly dispose of its used oil as outlined in environmental regulations. King Mechanic is failing in its ____ responsibilities.

legal

​The percentage of a market which actually buys a specific product from a specific company is referred to as that product's

market share

A marketing manager for a small laptop manufacturer is analyzing the potential effects of political, legal, sociocultural, and economic forces on the firm's operations. The marketing manager is examining the ____ that influence(s) the firm's strategy.

marketing environment

​Distribution, price, promotion, and product are all elements of

marketing mix

The ____________ section of the marketing plan states what the company wants to accomplish through marketing activities, using a(n) ___________ of where the firm stands in the market.

marketing objectives; SWOT analysis

f Procter & Gamble, the maker of Dawn dishwashing liquid, wants to know what percentage of customers examine product labels before making a product selection in the grocery store, it can best gain this information through

observation

The International Company needs information about trends in housing starts and remodeling around the country. Since it will be difficult to collect _______ from the numerous locations, it decides to use _____ data from the U.S. Department of Commerce reports to get this information.

primary ; secondary

The two basic types of sampling that marketing researchers use are

probability and nonprobability.

Panera wants to collect data about employee satisfaction within its organization. It decides to survey a sample of 500 employees by having a computer program automatically pick which employees will be in the sample. If it uses the payroll database as the list of names to choose from, which type of sampling method is Panera using?

random sampling

Honeybees are disappearing at an alarming rate, and since they pollinate about a third of all the foods we eat, it is an important concern. That's why Ben & Jerry's launched a microsite to increase the awareness of the issue. In addition, it launched a "Twitcause" campaign on Twitter, raising $7,000 in two days. This example illustrates the positive consequences of

social responsibility

A company's customers, employees, shareholders, suppliers, governments, communities, and competitors comprise its

stakeholders

Based on the work by the Boston Consulting Group, products with a dominant share of the market and good prospects for growth are

stars

Within a business organization, a profit center that is self-supporting in terms of sales, markets, production, and other resources is known as a

strategic business unit

Kashi Heart to Heart cereal is aimed at people concerned about their heart health. These people represent the Kashi

target market

Consumerism is

the efforts of independent individuals, groups, and organizations to protect the rights of consumers.