MKT 340 - All Quizzes

Globalization refers to a global marketing strategy in which each of the four Ps is customized for each country.

False

STP refers to segmentation, testing, and promotion.

False

Setting high customer expectations is a good strategy that will help avoid customer dissatisfaction in the long run.

False

To build a sustainable competitive advantage, companies should focus on a single macro or overarching strategy.

False

Panel data are always secondary data.

Fasle

Brand dilution occurs when the brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold.

True

In most European countries retailers can't sell below cost, and in others they can't advertise "before" prices if the product hasn't been sold at that price for two weeks.

True

When shopping for a car you notice a significant price gap between domestic and imported cars, with the imported cars being much more expensive. This could be the result of

a tariff

A company that sells only multigrain, low-calorie bread should use a(n) ________ targeting strategy.

concentrated

Marketers spend millions of dollars annually trying to create or reinforce brand loyalty. Brand loyalty changes the demand curve for the firm's products by

decreasing the price elasticity of demand

When Toyota introduced hybrid cars, there were waiting lists to buy them. Then Honda and a few other manufacturers entered the market, shifting the product life cycle for hybrid cars into the __________ stage of the product life cycle.

growth

Marketers love consumers who engage in ________, buying their company's product with little thought or consideration of alternatives.

habitual decision making

Many marketing students initially overlook the importance of marketing channel management because

many of these activities take place behind the scenes

Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following except

performance

[-----] are special incentives or excitement-building programs that encourage consumers to purchase a particular product. This strategy is typically used in conjunction with other promotional mix elements.

sales promotions

Toyota was the first automobile company to mass produce a hybrid car. When the Prius was in the introductory stage, Toyota knew that

sales would be low and profits nonexistent, but the Prius would attract innovators.

The Coffee Express company is located in a business district with few customers on the weekend. To attract customers on Saturday and Sundays, it reduces its prices on these two days. This is an example of

dynamic pricing

________ is where the packaging creates an experience for the customer that goes beyond the functional benefits of displaying and protecting the product, e.g. Absolutions Vodka, Grey Goose, Altoids breath mints, etc.

experimental packaging

All of the following are considered qualitative research except

experiments

Oscar Rodriguez is proposing Vision Innovation CEO that the firm start selling eyeglass frames in Europe. Overall, the company does not have a lot of capital and is risk-averse. Oscar will most likely recommend that Vision Innovation

export their eyeglasses

Creative locations, such as kiosks at the baggage claim in airports or small booths in grocery stores, represent Starbucks' effort to improve its offering on which dimension of the marketing mix?

place

Which element of the marketing mix deals with supply chain management?

place

For a major university, undergraduate studies, graduate studies, and professional programs would be __________ within the university's product mix.

product lines

When Yolanda asked her firm's advertising agency to estimate how often consumers saw her firm's IMC message and what percentage of the target audience was exposed to the message, she was told the reach was 40, the frequency was 4, and the competitive parity was 10. The gross rating points for her firm's campaign were

160

At the break-even point, profits are maximized.

False

Data that have been collected prior to the start of the current research project are considered primary data.

False

For the average college student, a retirement account would be a shopping product.

False

Global distribution networks that involve wholesalers, exporters, importers, and different transportation systems generally lower costs and prices for products.

False

By allowing consumers to sell their unwanted goods to other consumers, auction sites like eBay and Etsy cater to ________ marketing.

C2C

The three general objectives of advertising are to select, target, and promote.

False

Warren is in a group of 8 to 12 people and is being asked questions by a trained moderator. Warren is part of an in-depth interview group.

False

When a firm has a particular profit goal as its overriding concern, it will use target return pricing to meet the profit objective.

False

When businesses support fashion events, such as the New York Fashion Week, this is known as cause-related marketing.

False

The first step in the marketing planning process (i. e. in developing a marketing plan) is to

establish the overall mission and objectives

______ is anything that is of value to a consumer and can be offered through a voluntary marketing exchange.

product

If a new product concept gets positive evaluations from potential customers during concept testing, the next step for a firm is

product development

_____________ are groups of associated items that consumers tend to use together or think of as part of a group of similar products or services.

Product line

A disadvantage to using secondary data is that they might not be precisely relevant to the information needed.

True

The Golden Rule test asks the question, "Would I like to be on the receiving end of this action and all its potential consequences?"

True

Which of the following is the best example of a mass media advertising channel?

USA Today

________ segmentation is the segmentation method most directly related to satisfying consumers' needs and wants.

Benefit

_________ is when a company uses an established brand name as an umbrella when entering new businesses or developing new product lines that represent new categories for the company.

Brand Extension

All of the following are federal agencies that regulate advertising activities except the

FRS

A complex product that is best described in writing will be difficult to explain to consumers who are unable to read. For this reason, a segment in which many consumers could not read would be considered unattractive because the consumers would not be responsive.

False

A demand curve shows the relationship between income and demand.

False

A pulsing advertising schedule uses periods of heavy advertising followed by periods of no advertising.

False

An example of sentiment mining is when survey data are analyzed in depth to determine consumer attitudes toward a product.

False

Which of the following is true regarding the ticketing and marking process?

It is more efficient for a retailer to perform these activities at a distribution center than in its stores.

Which statement best describes personal selling?

It is the two-way flow of communication between a buyer and a seller

Crest toothpaste, along with most consumer packaged goods at your local grocery store, are in the maturity stage of the product life cycle. All of the following are characteristics of the maturity stage EXCEPT

Laggards are a major focus of marketing efforts

__________ involves efforts to ensure that target customers have a clear, distinctive, desirable understanding of the firm's offerings relative to competitors' offerings

Positioning

The "S" in BRICS stands for

South Africa

Christina created a virtual prototype of her new line of swimwear on a website to show to consumers. Christina will ask consumers what they think of the clothing. Which is the most important question that Christina should ask?

Will consumers purchase the swimwear if it becomes available?

The difference between advertising and publicity is that advertising is

a paid form of marketing communication

One of Oscar Rodriguez's responsibilities is to manage Vision Innovation's retail spaces located in shopping malls. The goal of retailing is to

add value to products and services sold to consumers for their personal or family use.

In the AIDA model, the do stage is the ________ stage.

action

Because of its size and relative power, Walmart can easily impose controls on small manufacturers, such as Brown Betty Dessert Boutique, but with large, powerful suppliers such as P&G, the control is more balanced between parties. Walmart's various marketing channel relationships offer examples of different forms of a(n) ________ marketing system.

administered vertical

Sheryl asked Nadira to help her buy some aftershave for her boyfriend. Nadira was going through a list of different brand names, when Sheryl stopped her and said, "I recognize that one." Marketers call this

aided recall

Oscar Rodriguez is trying to explain the difference between advertising and publicity to the CEO of Vision Innovations. In his explanation, Oscar should tell the CEO that advertising

allows for greater control of the message and is a paid form of communication

Segmentation, targeting, and positioning

are part of a firm's marketing strategy

Product warranties, financing, product support and after sale service pertain to which product component?

associated services

All of the following statements about public relations are true except

because of its high cost, the use of PR has waned in recent years

The major text portion of a print advertisement is called the

body copy

Veronica Jackson's family has always driven a Toyota car. When Veronica thinks about Toyota she immediately recalls family road trips, good gas mileage, stylish designs, and the image of her local dealership. In marketing, these recollections are called

brand associations

The following elements help form _________: name, url, logos, characters, slogans, tagline, sounds, labeling, packaging.

brand identity

Veronica Jackson's family has always driven a Toyota car, so when she went shopping for a new car, Veronica went to the Toyota dealership without thinking much about it. This demonstrates how [-----] facilitate(s) purchases.

brands

Pioneer or breakthrough products

can change consumer preferences

In many cases, pioneers lose their market lead and initial market share to imitators who

capitalize on the pioneers' weaknesses

___________ is where two or more different company brands are featured together on product packaging or in advertising.

co-branding

A firm's marketing communication strategy is formulated specifically to

communicate the value of its product(s)

Laptop computers, personal digital assistants, and cellular phones were all readily accepted and diffused in U.S. markets where business and personal lifestyles tend to be faster-paced, compared to man other areas of the world. These products offered ______ with consumers' needs and priorities.

compatibility

When firms set prices similar to those of competitors, they are following a strategy of

competitive parity

Four frequently used targeting strategies are the micromarketing, undifferentiated, differentiated, and ________ targeting strategies.

concentrated

Oscar Rodriguez orders sunglasses frames for Vision Innovations from a wholesaler. The wholesaler provides Vision Innovation access to a wide variety of glasses frames from multiple designers. In general, wholesalers sell to all of the following EXCEPT

consumers

Personal trainer and ShapeUp! gym owner Veronica Jackson rarely worries about the actual costs of providing her programs. In her Principles of Marketing class at Iowa State University, Veronica learned that, in general, prices should not be based on costs because

consumers make their purchase decisions based on perceived value.

Franchising is the most common type of ___________________ vertical marketing system.

contractual

On her way home from work, Veronica Jackson stopped at the corner grocery store to pick up milk, bread, cereal, and butter. Veronica did not spend any time searching for these products or comparing alternatives. For most consumers, like Veronica, these items are [-----] goods.

convenience

The basic problem-solving benefits that customers are seeking refer to which product component?

core customer value

Oscar Rodriguez is excited to add a futuristic line of eye-wear to the product offerings Vision Innovation. Oscar has decided to invest in a promotional campaign with significant portion of the investment dedicated to advertising. He decided to do this because, compared to other elements in the promotional mix, advertising is extremely effective for

creating awareness and generating interest in a product

________ is when vendors ship merchandise to the distribution center prepackaged in the type and quantity required for each individual store.

cross-docking

When CarMax promises a "no-haggle" pricing structure, it exhibits __________________ because it provides additional value to potential used car buyers by making the process simple and easy.

customer orientation

Traditional demand curve economic theory is used by marketers to understand ______________ in the five Cs of pricing.

customers

Walmart is known for its efficient logistical systems. Every time consumers buy something, that purchase is recorded and sent to company headquarters, where it is used to generate reorders to vendors. In addition, customers' billions of purchases are analyzed to uncover patterns of consumers' purchasing behavior. This is an example of:

data mining

Kellogg's marketing communications about its Special K cereal appeal almost exclusively to women. This is an example of __________ segmentation.

demographic

Psychographics is the segmentation method that delves into how consumers

describe themselves

Adidas Group owns Reebok, Rockport, and TaylorMade brands. Adidas uses the different brands to pursue a(n) ________ strategy.

differentiated targeting

In Vision Innovations promotional mix, Oscar Rodriguez wants to reduce mass media and to increase the use of personalized marketing communication messages. To achieve this goal, Oscar will likely increase his use of

direct marketing

Veronica Jackson will be a bridesmaid next summer in her friends wedding, and she purchased her dress online. The next time she turned on her computer, Veronica was surprised to see special offers for matching accessories. This is an example of which promotion strategy?

direct marketing

Sophie made pies and sold them from her food truck to local businesses. This is an example of a(n)

direct marketing channel

A ____________ is a facility for the receipt, storage, and redistribution of goods to company stores.

distribution center

Oscar Rodriguez recently tried the new vegan products from Meatless Farms. Only a few of Oscar's friends tried the meat-alternative products before he did. Most of his friend wanted to hear about Oscar's experience before trying for themselves. According to the Diffusion of Innovation. Oscar is a(n) __________ in this product category.

early adopter

As soon as she saw one, Veronica Jackson wanted a flat-screen television, but she was worried about making the wrong choice. She waited until there were alternatives in the market with lower prices and improved quality. According to the Diffusion of Innovation, Veronica is part of the __________ .

early majority

Flo is frustrated with her company's supply chain management information system. She wants to be able to receive sales data, initiate purchase orders, send and receive invoices, and receive returned merchandise documentation. Flo needs a(n)

electronic data interchange system

Daniella is creating an advertising message designed to appeal to consumers' fears of having their home broken into. Daniella's message will focus on a(n) ________ appeal.

emotional

Caren has identified four potential market segments for her Rent-A-Chef home meal catering service. The next step is to

evaluate the attractiveness of each segment

The IMC communication process includes all of the following except

evaluation

Katie Murphy is debating how to allocate the promotion budget for a Toyota dealership. She knows having knowledgeable salespeople in the dealership can simplify buyers' purchase decisions. Katie should also consider that, compared to other promotional elements, personal selling is

expensive

Maria's Bakery is trying to determine what price to charge for its cookies, so Maria places a low price on them and raises it each week, keeping track of how many she sells. Then she determines what her cost was for the cookies and determines which price was the most profitable. What form of research was Maria conducting?

experiment

All of the following are reasons for the high failure rate of new products except

failing to introduce lower-priced alternatives

After seeing advertisements for the Toyota Prius, Joey becomes interested and does some Internet research. However, after seeing the price for a new model, he decides to purchase a Ford Fusion instead. This is an example of the lagged effect.

false

Colin has just received a delivery from the company's distribution center. He opens the containers and finds the popcorn and snacks are all bar-coded and priced and the package includes an end-of-the-aisle display rack. Colin has received a(n) ________ shipment.

floor-ready

Marjorie manages an upscale women's clothing store. She wants more information about her customers' general feelings about upcoming fall fashions. Marjorie will most likely use ________ to gather this type of data.

focus groups

A(n) ____________ is used in the shipment of products directly to customers.

fulfillment center

Which of the following is least likely to be a source of ideas for a new product?

geo-demographic segmentation

The Tapestry™ Segmentation system divides and sorts small geographic areas into categories using 65 or more demographic and lifestyle characteristics. This market research tool is an example of ________ segmentation.

geodemographic

Personal trainer Veronica Jackson is opening an new fitness center in Chicago. She is working on an advertisement to announce the grand opening. Veronica's first step in her advertising campaign is to

get consumers' attention

Juan has identified four potential market segments for his Rent-A-Nurse service. He will now compare the segments to see if they are distinct from each other. Juan is evaluating whether or not each segment is

identifiable

Which of the following research methods would be best in helping a marketer understand how people feel about a product or service on an individual, detailed level?

in-depth interviews

If the demand for a product increases, the demand for the complementary product will

increase

Tess is the marketing manager for a fast-food restaurant chain. She uses a target return pricing strategy because her firm's primary objective is to

increase profits

Veronica Jackson wants to increase the brand recognition of her personal training business "Shape Up!" She knows that brand recognition is important because a strong brand

increases consumer awareness of product offerings

Oscar Rodriguez buys eyeglass frames from a variety of designers. Oscar sells those frames direct to customers via Vision Innovation's locations at shopping malls and the company's website. This journey of the product from the original manufacturer through to the customer would be considered an example of a(n)

indirect marketing channel

________ appeals help consumers make purchase decisions by offering facts in advertising messages and strong arguments built around relevant issues, explaining key benefits of the firm's products and services.

informational

________ is the process by which ideas are transformed into new products and services that will help firms grow.

innovation

Katie Murphy is obsessed with Apple products. She is constantly searching the internet for information about new product releases. Katie has been known to spend the night waiting in line so she could purchase a new Apple product before any of her friends. According to the Diffusion of Innovation, Katie is a(n)

innovator

Crest Toothpaste wants to get their products into as many outlets as possible, understanding that the more exposure a product gets, the more it will sell. Crest is using a(n) ____________ distribution strategy.

intensive

One key feature of the value of strong brand equity is that

it can protect the firm from competition

The observation that consumers are generally more sensitive to price increases than to price decreases suggests that

it is easier to lose customers with a price increase than to gain customers with a price decrease

The CEO of David's firm... David needs to think fast for a good answer because he knows that

it is often impossible to identify with precision where a product is in the product life cycle

A major advantage of primary data collection is

it offers behavioral insights generally not available from secondary research

Veronica Jackson is working on a strategy to retain her current personal training customers. She should consider creating a [-----] which is are specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time.

loyalty program

________ are specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time.

loyalty programs

In the United States, most consumer packaged goods found in the grocery and discount stores are already in the ________ stage of the product life circle.

maturity

A ________ strategy involves accurately measuring all the factors needed to predict sales and profits at various price levels, so that the price level that produces the highest return can be chosen.

maximizing profits

The marketing research process follows five steps, and researchers

may not always go through them in the exact sequence if the situation changes or new information is discovered

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

micromarketing

What type of competition occurs when there are many firms competing for customers in a given market but their products are differentiated?

monopolistic competition

An advertisement for Titleist golf balls that airs on the cable television Golf Channel network is an example of what type of media channel?

niche

________ is any interference in the IMC process.

noise

All of the following groups are included in the diffusion of innovation curve except

non adopters

Julia is developing a budget for her firm's IMC program. First she sets objectives. Then she chooses media, and finally she determines the cost for each product to be promoted. Julia is using the ________ method of establishing an IMC budget.

objective-and-task

Jill's discount home furnishings store is in a strip mall. She wants to know what other businesses in the strip mall her customers visit when they come to her store. To collect information for this objective, Jill will most likely use

observation

Which of the following segmentation methods is being used when M&M's offers special wedding-themed packaging for customized M&M's (imprinted with the names of the bride and groom)?

occasion segmentation

Sales promotions include all of the following except

online ads

In a corporate vertical marketing system,

participants—such as warehouses, manufacturing plants , and retail outlets—are typically owned by a parent company to lessen potential conflict among segments of the channel.

Brands can be owned by

people, retailers, wholesalers, manufacturers

Cross-price elasticity is the

percentage change in quantity demanded of Product A compared to the percentage change in price of Product B.

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.

positioning

Personal trainer and ShapeUp! gym owner Veronica Jackson is expanding services to attract more customers. Veronica is leaning toward charging higher prices than her competitors to help demonstrate that ShapeUp! programs are high-quality products. Veronica is considering

premium pricing

Which of the following would be least sensitive to price increases?

prescription lenses for eyeglasses

If a healthy increase in price does not reduce demand, the demand would be

price inelastic

The complete set of all products offered by a firm is called its

product mix

Actor Sissy Spacek once objected to a series of movie scenes that included her smoking a certain brand of cigarettes. She was probably objecting to a ________ arrangement the film company had made with an advertiser.

product placement

Reminder advertising is primarily used to

prompt repurchase of a product.

For her personal training business ShapeUp!, Veronica Jackson has decided to work on developing and maintaining positive relationships with the media and community groups. Veronica is focusing on a(n) [-----] strategy.

public relations

Gretchen has just started as a fashion marketing intern for an up-and-coming design firm. She expected to immediately begin implementing the four Ps she had learned about in class. Instead, she was asked to work on a project identifying important events where celebrities might wear the fashions. Gretchen soon realized that this activity was part of ________, directly related to marketing.

public relations

First Lady Michelle Obama recorded an ad encouraging parents to teach their children good nutrition habits to stem the increase in child obesity. This message is an example of

public service advertising

What price competitive level would be indicated when the price is usually set according to the laws of supply and demand?

pure competition

Anne's Pita Bread Chips offers free POP (point-of-purchase) displays to retailers ordering its product. Anne's is using a ________ strategy.

push

When the marketing research problem is not clearly defined, a researcher will likely engage in __________ research.

qualitative

Bryan wants to sell personal website services to American soldiers in Afghanistan. Because of the difficulty of communicating with people in a war zone, Bryan may have trouble with this segment not being

reachable

Caren has identified four potential market segments for her Rent-A-Chef home meal catering service. She will now evaluate whether or not each segment is attractive relative to all of the following except

realistic

A measure termed ________ describes how useful an ad message is to the consumer doing the search.

relevance

In vendor-managed inventory systems,

retailers send sales information to the manufacturer.

When a global firm turns to its subsidiaries in less developed markets for new product ideas, such as when Unilever's Pureit water purifier was initially developed for the Indian population and it is now available in 13 countries including China, Brazil, and Mexico the firm is engaged in

reverse innovation

Many years ago Honda's Accord and Ford's Taurus were the two top-selling cars in the United States. As the year was coming to an end, Ford cut the price of the Taurus, hoping to outsell the Accord and allow Ford to claim that "Taurus is the best-selling car in America." Ford was using a ________ pricing strategy.

sales orientation

When Veronica Jackson was in college, she served as a brand ambassador for Nunn Hydration. In this role, Veronica would give samples of Nunn Hydration products her exercise science classmates. Which element of the promotional mix does this describe?

sales promotion

Toyota VP Adam Nguyen has increased the investment in sales people at the dealerships. Adam believes an advantage of personal selling over other types of marketing promotion is that

salespeople can build strong relationships with customers

When Betsy decided to open up a tea shop in the center of town, she chose a group of customers who represent her customers of interest. This group is called a

sample

Company sales invoices, census data, and trade association statistics are examples of

secondary data

MAC cosmetics can only be found at specific retailers. The organization uses a _______________________ distribution strategy to maintain a particular image and control the flow of merchandise.

selective

After using market research to identify the target audience for his advertising campaign, Jorge will next use this information to

set explicit and measurable objectives for the campaign

Veronica Jackson is taking a backpacking trip across Europe. She wants to make sure that the backpack she chooses is the best one for her adventure. She is spending a considerable amount of time comparing alternatives to make sure she selects the best one. For Veronica, this backpack represents what type of product?

shopping

All of the following are included in the four product life cycle stages except

stagnation

All of the following would be part of the launch of a new product except

starting to make preliminary decisions about the target market

Personal trainer and ShapeUp! gym owner Veronica Jackson searches the internet for any information she can get on her competitors. Veronica noticed that several fitness clubs have lowered the prices for the holiday season and she decided to do the same. Veronica is using a _______ pricing strategy.

status quo

When conducting a research study attempting to understand what features were most important to automobile consumers, Cary's Research Company used a questionnaire containing ________ questions, with a predetermined set of response options.

structured

Marta is concerned that one of the potential market segments she has identified for her dog grooming service is too small and has too little income to have sufficient buying power. Marta is concerned with whether the segment is

substantial

Unlike advertising, public relations

supports promotional efforts by generating free media attention and goodwill

Quantitative research offers a means to confirm ideas through

surveys or experiments

A form of sales promotion that offers prizes based on a chance drawing of entrants' names, ________ do not require the entrant to complete a task other than buying a ticket or filling out a form.

sweepstakes

Jaleel is the marketing manager for a moderately well-known rock band. He wants to know more about industry trends including sales by different musical styles, online downloads, and concert attendance. Jaleel will most likely use ________ to gather this type of data.

syndicated data

Many restaurants roll out new lunch ideas, first in Orlando, Florida, a location that attract a vast range of diverse tourists and thus might offer insights into what various consumer groups will like. This is an example of

test marketing

When Crest Toothpaste comes up with a new toothpaste flavor, it often introduces the product in select regional markets before rolling out the product worldwide. When the company does this, it is engaged in

test marketing

Unlike product, promotion, or place, price is the only part of the marketing mix

that generates revenue

Sales of national brands of orange juice tend to increase when the economy is doing well, while sales of generic orange juice increase when the economy is not doing well. This is an example of how ________ impacts demand for products.

the income effect

Eddie was known for driving 30 miles just to save a dollar on the price of his favorite beverage. Eddie perceived price as ________ for a good or service, while most consumers recognize price as the ________ made to acquire a good or service.

the money paid; overall sacrifice

When Veronica Jackson set up her ShapeUp! business, she used penetration pricing in order to gain customers quickly in the very competitive market of personal fitness training. Now that Veronica is established, she is reluctant to raise her prices because she knows that when more choices exist in the market,

the more sensitive consumers will be to changes in the price of a particular product

The diffusion of innovation theory focuses on

the rate at which consumers are likely to adopt a new product or service

Toyota's VP of Marketing, Adam Nguyen, has been working closely with the company's research and development team on a new concept for a lightweight electric scooter that can be easily folded and carried inside a building or on public transportation. Toyota is currently engaged in concept testing. The most important question during this phase of product development pertains to

the respondent's purchase intentions if the product were made available.

Just as marketers create value by meeting the needs and wants of consumers, marketing researchers create value if

the results will be used in making management decisions

When referring to "exchange," marketers are focusing on

the trading of things of value

Getting merchandise floor-ready entails

ticketing and marking

______ is where the brand and the product have separate identities, but they are combined together, e.g. Apple Iphone, Sony PlayStation, Porsche Panamera, etc

tiered branding and combination branding

RFID tags are

tiny computer chips that transmit information about a container's contents.

The effectiveness of an advertising campaign is assessed during the campaign by

tracking

Zappos.com, an online shoe store, offers an easy, no-hassle return procedure. This relates to the _______ of its products.

trainability

Leona is the logistics manager for the Barnes & Noble bookstore chain. She is weighing the many benefits of the company's JIT system, but will need to consider that just-in-time inventory management systems increase ________ costs.

transportation

For products like clothes pins, which provide the same benefit for all consumers, marketers should probably use a(n) ________ strategy.

undifferentiated targeting

Neville is trying to create an advertising message that tells consumers how his company's cable and Internet services differ from other alternatives in the market. Neville is trying to create a(n)

unique selling proposition

When Victoria's Secret offers different product lines, such as its Pink line, it is trying to capture the market by

using segmentation, targeting, and positioning

The Stanley company wants Home Depot to carry all its tools but not the tools of its competitors so that Stanley can maximize its sales. But Home Depot carries a mix of tool brands so it can maximize the sales in its tool category. This misalignment of goals will likely lead to a ________ channel conflict.

vertical

Generally, people buy one product or service instead of another because they

perceive it to be the better value for them

Effective promotion enhances a product or service's

perceived value

Chris has just started with a travel agency, and she has been offering clients and prospective clients a range of packaged tours. She is concerned because the commissions she is earning on her sales are lower than she had hoped. Her colleague Pete, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Pete's approach is based on

value co-creation

New real estate disclosure regulations require sellers and their agents to tell prospective buyers about any existing problems with the property. Previously, they were expected only to answer buyers' questions. The new regulation addressed the marketing ethics problem of

withholding information

A mission statement describes the specific actions a firm will take to achieve its goals.

False

Among the various international trade agreements, NAFTA and now the United States-Mexico-Canada Free Trade Agreement (USMCA) represent the highest level of integration across individual nations.

False

Two requirements of sustainable competitive advantage are that it is easy to be copied and can be maintained over a long period of time.

False

A company is assessing opportunities in the BRIC countries and determines that ________ is one of the youngest populations in the world and is increasingly adopting global attitudes.

India

________ represents all the activities necessary to get the product to the right customer when that customer wants it.

Place

Which of the following growth strategies employs the existing marketing mix and focuses the firm's efforts on existing customers?

market penetration

The sale of products that may damage the environment, the use of sweatshop labor, and the marketing of dangerous products are examples of

marketing ethical issues

Which of the following statements best describes global expansion through a strategic alliance?

A strategic alliance is a relationship in which two firms collaborate on a business opportunity, but do not invest in each other

When Katie Murphy was considering a career in marketing. she was 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, Katie was relieved to learn that in marketing

All parties should be satisfied

As use of the Internet took off, car manufacturers were tempted to sell directly to consumers, but decided instead to continue to sell through their existing dealer networks. The car manufacturers considered switching from ________ to ________ marketing.

B2B; B2C

Retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts. When they sell to consumers, it is considered ________ marketing.

B2C

________ entails a sense of purpose for the firm that is higher than simply making a profit by selling products and services.

Conscious marketing

The most common measure of market potential of an economy is a country's

GDP

Which of the following steps occurs during the implementation phase of the marketing plan?

Identify and evaluate opportunities

Which of the BRIC nations is most literate?

Russia

Which of the following is not one of the categories in Boston Consulting Group's Portfolio Analysis Model:

The Long Tail

What is the most basic corporate social responsibility to employees?

To ensure a safe working environment

Key corporate social responsibility (CSR) stakeholders typically include all of the following: the firm's employees and their families customer groups members of the community the environment the firm's partners and competitors

True

All of the following are questions posed in the ethical decision-making metric except

Will this action help my career?

All of the following statements regarding corporate social responsibility are true except

a firm's responsibilities to society are not associated with the demands, expectations, requirements, and desires of various stakeholders

The term trade deficit refers to

a higher levels of imports than exports

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 marketing plan

Marketers are particularly interested in postpurchase behavior because it

involves actual rather than potential customers

In the ethical decision-making metric, the question that asks "Would I want the person I admire most to see me doing this?" applies to the

admired observer test

After a firm has identified the various stakeholders and their issues and gathered available data related to an ethical decision-making situation, ________ should engage in brainstorming and evaluating alternatives.

all parties relevant to the decision

As vice president of marketing for Toyota, Adam Nguyen pays close attention to trends in Toyota's international markets. This includes tracking changes in tariffs. Tariffs are used by countries to reduce foreign competition and

as a response to perceived unfair trade practices

When marketers work in controversial or polluting industries such as tobacco or fossil fuels, their central activities largely bar them from becoming

conscious marketers

The basic difference between a good and a service is that a good

can be physically touched

The fundamental goal of marketers when creating goods, services, or combinations of both is to

create value

Before going on his first business trip to China, Bradley asked his Chinese American friend to advise him on customs and values common among the Chinese businesspeople he will likely encounter. Bradley is trying to avoid ________ business blunders.

cultural

Customer retention programs are based on what concept?

customer relationships should be viewed from a lifetime value perspective rather than on a transaction-by-transaction basis

Oscar Rodriguez had developed an extremely successful advertising and promotion campaign for a Vision Innovation in United States. Oscar's boss wants to roll out the same campaign to markets worldwide. Oscar is cautioning against doing this most likely because

differences in languages, customs, and culture might make the campaign meaningless and ineffective in some markets

Oscar Rodriguez is working on a marketing plan for introducing Vision Innovation's eyeglass frames into Brazil. Oscar knows that segmenting, targeting, and positioning are more complicated when considering a new foreign market. This is because of cultural nuances, subcultures within a country, and

differences in the way consumers perceive themselves and the products they buy

Through a competitive analysis focusing on China, Toyota Vice President Adam Nguyen discovered that Tesla has reached an unusual agreement with the Chinese government. Tesla will be allowed to maintain complete control of its manufacturing plants, facilities, and overall operations within China. This is an example of a(n) [__________________].

direct investment

Larry is asked to conduct an STP analysis for his firm. The first step he should perform in this analysis is to

divide the marketplace into subgroups

According to one definition, CSR can be described as context-specific actions and policies, taking stakeholders' expectations into account, to achieve what is referred to as the triple bottom line. The triple bottom line includes _________________________ performance.

economic, social, and environmental

The Harvest County School Board is concerned about deteriorating school facilities, combined with a shrinking budget. The board began by studying the issue, and then identified parents, children, teachers, staff, and taxpayers as groups who have a vested interest in the problem. The school board has listened to each group's concerns. In the ethical decision-making framework, its next action should be to

engage in brainstorming alternatives

Four Winds Art Gallery sells paintings. They have also recently begun offering appraisals of customers' art collections. Four Winds is

expanding from offering just goods to also offering services

Postpurchase cognitive dissonance is especially likely for products that are

expensive, infrequently purchased, or associated with high levels of risk

Kia has to decide which college to attend. This is the most important, riskiest, and most expensive decision she has ever made. She will be engaged in

extended problem solving

Globalization refers to the processes by which goods, services, capital, people, information, and ideas

flow across national borders

After he retires, Adam Nguyen wants to open a gourmet sandwich business. He has big dreams and hopes to expand internationally. Adam does not want to take a lot of risk in his global expansion. He is willing to limit his control of international stores. Adam will most likely use a(n) [-----] strategy.

franchising

By producing motorcycles that do more than get riders to their destinations and back, Harley-Davidson is addressing consumers' ________ needs.

functional and psychological

Consumers use and process different aspects of advertising or messages. ________ yields greater attention and deeper processing, and leads to strong attitudes and purchase intentions.

high involvement

Hisaoki picks up the local newspaper and reads a stinging letter to the editor criticizing his beverage company for supporting a sporting event for children with disabilities. The letter writer is critical of a banner displayed at the event with the logos of alcoholic beverages and Hisaoki's company name. Hisaoki never considered that this problem might arise. Hisaoki's company failed to

identify issues

Maria is the new restaurant manager in a major hotel. When considering changes in the restaurant that will increase value to customers, Maria will likely attempt to either provide the same quality at a lower cost or

improve products and services at the same cost

Most big box retailers regularly move products from one aisle to another. They also put personal care products in the pharmacy area, many aisles away from the grocery products. They do this because consumers who spend more time walking through the store are likely to buy things they hadn't planned to buy, or make

impulse purchases

By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to

increase the perceived value of its products

Oscar Rodriguez is working on a situational analysis to support Vision Innovation's expansion into Bangladesh. Oscar is considering the question, "How will we get our products to stores in Bangladesh?" Oscar evaluating the commerce [-----] in Bangladesh.

infrastructure

When Kyle began searching for a new car to replace her old, rusty one, she probably relied on ________ sources of information.

internal and external

The strategic marketing planning process

is not always sequential

Marketers must determine the price of a product carefully, based on potential buyers' beliefs about

its value

Oscar Rodriguez is exploring the idea of expanding Vision Innovation into Brazil. His primary concern is addressing the differences in local market and gaining access to resources such as vendors and real estate. Oscar is looking for local firms interested in pooling resources, sharing risk and sharing the financial gain. Oscar will most likely select a(n) [-----] strategy.

joint venture

To build relationships, firms focus on the ________ of the relationship, not how much money is made during each transaction.

lifetime profitability

Before flying, Jorden researches the types of planes the airline uses, scans the plane for defects as it taxis up to the terminal, and follows the pilot and crew as they come through the airport. He has no experience as a pilot or airplane mechanic. Jorden probably has a misguided sense of his

locus of control

Tomas, a bank employee, doesn't feel that his coworkers accept him. He decides to dress more casually, as they do, hoping to be accepted. Which level of Maslow's hierarchy of needs is Tomas trying to work on?

love

Which of the following is least likely to provide a sustainable competitive advantage?

lowering prices

Brett is struggling with the choice of publishing his new book, How to Cook Polish Barbeque, as an e-book or a paperback. Brett is addressing which core marketing aspect?

making product decisions

Many states create licensing requirements for a variety of professionals (such as lawyers and accountants) designed to restrict entry into their market by professionals from other states. This strategy limits ____________ growth strategies.

market development

The ________ for natural skin care company Burt's Bees is to "create natural, Earth-friendly personal care products formulated to help you maximize your well-being and that of the world around you."

mission statement

A(n) ________ is a need or want strong enough to cause a person to seek satisfaction.

motive

Samantha is charged with assessing her company's external environment as part of a SWOT analysis. Samantha will study her company's

opportunities and threats

Limited problem solving usually relies on

past experience more than on external information

Katy has naturally curly hair and has often been disappointed with the haircuts she has received. When she moved to a new town, she approached her new office mates and several strangers with curly hair and asked them where they had their hair cut. She chose to spend considerable effort finding a new hair stylist based on the ________ associated with her purchase decision.

performance risk

In the ________ stage, a firm will decide what level of commitment to its ethical policies and standards it is willing to declare publicly and how the firm plans to balance the needs of its various stakeholders.

planning

What type of analysis does management use to evaluate the firm's various products and businesses and allocate resources according to which products are expected to be the most profitable for the firm in the future?

portfolio analysis

The main focus of __________________________ is how a product compares with its competition.

positioning

Which of the following is not one of the macro or overarching strategies for sustainable competitive advantage:

price excellence

The ethical decision-making framework includes all of the following steps except

promote the firm's corporate social responsibility efforts

When the publisher of the well-known Babar books wanted to celebrate the 80th anniversary of the series, it initiated a $100,000 campaign. Which of the four Ps does this campaign represent?

promotion

Conscious marketing encompasses all of the following overriding principles except

recognition of the company's bottom line

The first objective in the evaluate performance phase of the marketing planning process is to

review implementation programs and results using metrics

Jamie sells construction equipment. Whenever she calls on her building contractor customers, she asks if they are having any problems. In doing so, Jamie is addressing which of the following core aspects of marketing?

satisfying customer needs and wants

Which of the following is not one of the four major growth strategies marketers typically utilize?

segment development

Pauline is about to open a new hardware store. She is making decisions regarding lighting, colors, and layout of merchandise. Pauline knows these ________ factors will influence consumers' purchase decisions.

sensory

When Walmart issued new standards for livestock products that were raised on food without antibiotics or artificial growth hormones, it considered multiple ________, including the ranchers that supply the food, its customers, and animal welfare groups.

stakeholders

Marketing channel management is also known as

supply chain management

UPS, FedEx, and other shipping companies support other firms' ________ marketing goals.

supply chain management

There is a saying "Never go to the grocery store hungry." This saying suggests that a consumer's ________ state may adversely affect purchasing decisions.

temporal

The greater the discrepancy between a consumer's needy state and the desired state, the greater

the consumer's need recognition will be.

All of the following are included in the decision-making metric except

the likability test

The consumer decision process model represents

the steps that consumers go through before, during, and after making purchases.

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes

the value of their time and energy