Marketing Quizzes (Final Review)
Customer orientation, a component of market orientation, places the customer at the core of all aspects of the enterprise
True
In contrast to Marketing (Big M), marketing (little m) serves the firm and its stakeholders at a functional or operational level.
True
One of the most straightforward and popular methods of segmentation is demographics.
True
Peter Drucker stated that since it is the customer who defines value, the business enterprise has only two business functions: marketing and innovation.
True
________ are the marketing activities that affect the consumer decision process
Value proposition, distribution, and marketing communications
A SWOT analysis of a firm is least likely to _______
suggest solutions to problems
The marketing manager for Joe's Shoe-Mart has decided to conduct descriptive research using primary data. Based on some preliminary research of trade journals and interviews with customers, she knows what questions to ask. However, the customers she wants information from are spread out over many stores in several states. The best technique for her to collect this data would be ________.
surveys
Customer loyalty is defined as ________.
the degree to which an individual will resist switching from one offering to another
Customer satisfaction is defined as ________.
the level at which the offering meets or exceeds a customer's expectations
Licensing is a useful form of market entry when companies lack the resources to establish independent operations in foreign markets.
true
Starbucks is known to have shops located in close proximity to enable customers to shop conveniently. It appears that the coffee shop chain is offering place utility.
true
In the context of positioning errors, when consumers have only a vague idea about the company and its products, and do not perceive any real differentiation, it is called________.
underpositioning
After staying in a boutique hotel in Chicago, Marissa posted a picture on her Facebook feed and described how fabulous it was. This kind of information is considered ________ data.
unstructured
Advertisements with messages like "Orange juice—It's not just for breakfast anymore!" or "Soup can be a delicious way to start a cold winter's day," are using segmentation by________.
usage patterns
Although Michael knew he couldn't really afford the Mercedes, he wanted it anyway. The want-satisfying power of a good is called ________.
utility
Which characteristic is related to services?
variability
With services, continual investment in training, retraining, and good management of people will have the biggest impact on
variability.
________ is a central tenet of marketing in which a person gives up something of value to them for something else they desire to have
Exchange
Target marketing is the process by which_______
a company evaluates market segments and decides which ones have the most potential for development
In a marketing plan, every strategy must include an implementation element. These are sometimes called ________.
action plans
A misconception about marketing is that it is ________.
all about selling
With brand________, customers develop a number of emotional, performance, and psychological connections with a brand
association
Selective________ refers to a tool that helps individuals focus on what is relevant and eliminate what is not.
awareness
Mr. Evans is a fan of using Big Data because of its ability to generate a large amount of data that can be organized and quantified. Mr. Evans likes the ________ characteristic of Big Data.
volume
Unsought goods are characterized as being the kinds of goods that consumers
would rather not purchase at all.
Marketing is relevant only to people in the organization who work directly in the marketing department.
False
Value is some type of utility that a company and its products provide for customers.
False
When Henry Ford said, "People can have the Model T in any color—so long that it's black," he was reflecting a sales orientation
False
________ is one of the most widely used measures of economic growth.
Gross domestic product
Which criterion for market segmentation is least likely to enable successful segmentation?
It should be undifferentiated.
________ is defined as the methodical identification, collection, analysis, and distribution of data to discover and solve marketing problems or enhance good decision making
Market research
________ is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Marketing
________ include a set of methods facilitated by technology that utilize individual-level and market-level data to identify and communicate meaningful patterns within the data for the purpose of improving marketing-related decisions.
Marketing analytics
Truth of marketing
Marketing is no more inherently unethical than other business areas.
A(n)________ is defined by the American Marketing Association as "a name, term, design, symbol, or any other feature that identifies one seller's goods or services as distinct from those of other sellers."
brand
KFC is very protective of its "Seven Herbs and Spices" recipe, which, in the view of the company, gives it a significant competitive advantage over other restaurants, and will use any legal resource available to protect its patented formula. Which dimension of brand equity does this example illustrate
brand assets
Dell used its brand to expand into new areas including printers and consumer electronics such as LCD and plasma televisions. Dell engaged in a________extension.
category
The American Marketing Association's code of ethics speaks to six primary ethical values: honesty, responsibility, fairness, respect, transparency, and ___________.
citizenship
Costco and Visa joined together to offer a Costco Visa card that allows users to get rebates on their purchases at Costco while expanding the reach of Visa to Costco members. This is an example of
co-branding
In marketing, differentiation means________
communicating and delivering value in different ways to different customer groups
Customer relationship management (CRM) is considered critical largely because of ________.
competitive pressures in the marketplace
One part of a marketing plan should identify what to do if things go wrong. This section is called ________ planning.
contingency
The AMA's definition of marketing reflects the view toward marketing activities as focused on _________.
creating and delivering offerings that have value
The marketing manager of Zenith Corp. is interested in ranking clients on the basis of their profitability, and accesses a database that tells him about the frequency and size of each client's order along with the actual costs per order. This database is part of the ________ system.
customer relationship management (CRM)
The marketing manager for Ned's Bar and Grill notices that his typical customer is a male college student. In the context of external information sources, he is using ________ to define his market.
demographics
Charging a price that is lower than actual costs or less than the company charges in its home market is called ________.
dumping
A shoe manufacturing company is interested in selling its products in a new country. Before entering the marketplace, the company wishes to gather information about how the country's citizens set priorities and make buying decisions. For this purpose, the company is most likely to analyze the country's ________.
economic conditions
The________ product extends the core product to include additional features, designs, and innovations that exceed customer expectations.
enhanced
One way to make a service more tangible is to have prospective customers
experience the service through a trial
________ is the most common method for entering foreign markets.
exporting
Marketing managers need to pay attention to culture because
failing to understand culture has a significant negative effect on product acceptance
Engaging in ethical business practices generally has little impact on marketing strategy and implementation.
false
Market development strategies allow a firm to invest additional resources to have existing customers consume new products.
false
Market penetration strategies allow the firm to introduce new products to new customers, often including international markets
false
Ford Motor Co. introduced its automobile called Nova in Mexico. It faced difficulty in selling the car because "Nova" in Spanish means "It doesn't go." This illustrates a problem with ________.
fitting the product to the culture
Positioning strategy is a process that often starts with________, which help(s) develop a set of attributes for further analysis
focus groups
A marketing manager using the database called PRIZM is interested in________segmentation
geodemographic
The primary difference between selling to the profit-oriented market and the nonprofit market is that nonprofits
have a limited number of resources compared to their for-profit counterparts.
New-to-the-world products are products that
have not been available before their introduction to the market.
Which of the following is NOT a part of the market research process?
implementing the recommendations
What is one of the three factors a company needs to consider when creating a market information system?
information needs
Services are produced and consumed at the same time and cannot be detached from their provider. This characteristic of service is called
inseparability.
The four characteristics of services are that they are
inseparable, perishable, intangible, and variable
Firms that are customer-centric exhibit a high degree of customer orientation, which means that they
instill an organization-wide focus on understanding customers' requirements
A service cannot be experienced through the physical senses. This property represents the________ of services.
intangibility
The consumer decision process is an interaction of two types of forces. They are
internal and external
The product life cycle (PLC) defines the life of a product in four basic stages, which include
introduction, growth, maturity, and decline
Many firms are reluctant to invest in great service, largely because
it takes time and patience before a return on the investment is noticeable
A product________ is a group of products linked through usage, customer profile, price points, and distribution channels.
line
On a box of Procter & Gamble's Bounce fabric softener sheets, the brand name "Bounce" takes up the dominant space on the label and the rest of the space is a bright color (orange) with clean fresh images of a sun rising and a green field. This is an example of the________ requirements of labeling.
marketing
Sean attributes the success of his video game arcade to advertising on the most popular website for gamers. Recently, the website raised ad prices, so Sean has cut his advertising in half. He believes that positive word-of-mouth will be enough now that his game is well established. However, sales are slipping. Of the fiveprimary activities in the value chain, this problem is most likely to occur in ________.
marketing and sales
When companies provide too few products in a product line, they run the risk of
missing important market opportunities
A ________ articulates an organization's reason for existence and defines the unique purpose that sets it apart from competitors and identifies the scope of the company's operations, products, and markets.
mission statement
Big Data from ________, such as Cartwheel from Target, can be used to assist customers in finding in-store deals and provides opportunities for retailers to maximize the value of in-store shopping experiences
mobile apps
Customers view new products much differently than companies view them. Customers care only if a product is
new to them.
A company's brand role includes
offering an effective and efficient methodology for categorizing products.
When a competitor used its logo in a disparaging way in an advertisement, Max Corp. sued. It won the suit on the basis that the competitor violated its trademark. Whichcompany brand role does this scenario exemplify?
offering legal protection for a product
Frito-Lay is using________ when offering free in-store samples of Doritos for the express purpose of getting people to try the product, enjoy the product, and finally purchase a bag of Doritos.
operant conditioning
Since Maytag's appliances have earned a reputation as being reliable and durable, John decided to buy a new Maytag washing machine despite the fact that it was more expensive than other brands. Which dimension of brand equity does this example illustrate?
perceived quality
What is a psychological attribute that affects consumer choices?
perception
A person shops differently when the line at the checkout is long. This is due to
personal circumstances
Starbucks has been successful in developing "ethically sourced" coffee that is socially responsible and environmentally safe. This demonstrates which element of TBL?
planet
When Target had a data breach that resulted in the loss of the personal information of 40 million customers, it ________.
postponed a campaign focused on Target's corporate citizenship
A company's core cost advantages translate directly to an edge over its competitors based on much more flexibility in its ________ as well as its ability to translate some of the cost savings to the bottom line.
pricing strategies
Brand Electronics' marketing manager would like to know about the typical consumer who purchases handheld computers. He begins by searching online and in databases for this information, but soon discovers that a product is too new for the sources to be of help. In this instance he will need ________ data to solve his research problem
primary
Coca-Cola changes the taste of its soft drinks to meet local market preferences. This is an example of ________.
product adaptation
________ is a set of unique personal qualities that produce distinctive responses across similar situations.
Personality
The marketing manager of a store brand pain reliever is designing the package for its new gel-coated capsules. Her main concerns are to design a package that prevents tampering with its contents and keeps children from accessing the product without adult assistance. On which objective of packaging is the marketing manager focusing?
protection
A marketing manager using VALS is interested in________ segmentation
psychographic
Which of the following types of research is less structured and can employ methods such as surveys and interviews to collect the data?
qualitative
Today, the percentage of jobs in the United States that are service-related is more than________ of all jobs
80 percent
Which statement about the product life cycle timeline is accurate?
A product may move through the entire life cycle in months, not years.
When products like cell phones are promoted as a safety device for working women and moms, this demonstrates that one way to find "new" markets is to
reposition the existing products targeting different customer segments
The local sandwich shop has always sold calorie-laden sandwiches and recently introduced six new sandwiches featuring vegetables and lower-calorie meats and cheeses to appeal to health-conscious customers. What strategy is the sandwich shop pursuing?
repositioning
PepsiCo and Coca-Cola sponsor traveling carnivals in rural Latin America to encourage product trial. This element of marketing communications is called ________
sales promotion
Burger Bistro recently experienced a decline in hamburger sales after salmonella was discovered during a health inspection at one of the restaurants. The marketing manager was interested in how other restaurants had dealt with similar situations. Which of the following types of data would be the most appropriate way to find answers related to this marketing problem?
secondary
Which statement about the service sector is accurate?
Changing U.S. demographics represent a major driver for why the service sector is thriving
________ are the stages of the consumer decision-making process in order
Problem recognition, search for information, evaluation of alternatives, product choice decision, post-purchase evaluation
________ can be defined as anything that delivers value to satisfy a need or want and includes physical merchandise, services, events, people, places, organizations, information, even ideas.
Product
________ data contains some elements of structure that make it easier for machines to understand its organization, but still contains parts that do not possess an appropriate level of structure to make them readily analyzable by automated means for knowledge creation.
Semi-structured
