MKT Final Exam

Strategic efforts to supply consumers with environmentally friendly merchandise are called

Green Marketing

The term trade deficit refers to

Higher Levels of Imports than Exports

When a firm pools its resources with that of a local firm to enter a new market, they create a(n)

Joint venture

A ________ is often used to illustrate the position of a firm's products or brands in consumers' minds.

Perceptual Map

Venicia is assessing market growth, market competitiveness, and market access for each segment she has identified. Venicia is assessing the ________ of each potential market segment.

Profitability

The center of all marketing efforts is Question 2 options:profits.the consumer.corporate social responsibility.top management.the firm.

consumer

The shared meanings, beliefs, morals, values, and customs of a group of people constitute their

culture

A firm's macroenvironment includes

culture, demographics, economics, political/legal issues

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

differentiated targeting

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

Which of the following are considered qualitative research?

focus groups

Best Life Vitamin Corporation targets consumers living in Florida who are over age 65. Golden Years is using ________ segmentation.

geodemographic

Toothpastes sold in supermarkets and pharmacies promise various results, such as whiter teeth, protection against gum disease, tartar control, or fresh breath. Toothpaste marketers are using ________ segmentation.

Benefit

Supermarkets collect information about individual customers through their use of loyalty cards, and then analyze the data to look for patterns in purchases. This is an example of

Data Mining

When marketers look at advertising media, they often begin with viewer or listener profiles such as age, gender, race, and income. They then compare the media profile with their target audience. These marketers are using ________ to see if the media "fit" with their advertising agenda. Question 3 options:

Demographics

What type of interview contains a small group of participants and a trained moderator that guides the conversation?

Focus Group

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

conscious marketing

When Betty 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

After a firm has identified the various stakeholders and their issues and gathered available data related to an ethical decision-making situation, all parties relevant to the decision should

brainstorm for alternative

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

concentrated

Fisher-Price wanted to determine if a new toy would appeal to preschoolers, so it put six 4-year-olds in a room with several toys and waited to see which ones they played with. What form of research is this?

observation

Which of the following is included in Hofstede's cultural dimensions?

power distance

The ethical decision-making framework includes

promote the firm's social responsibility efforts

The purpose of ________ is that it provides information needed to confirm insights and hypotheses generated and helps managers pursue appropriate courses of action.

quantitative research

When Walmart pressured its vendors to supply it with environmentally friendly merchandise with labels to prove it, this effort most relates to the concept of

sustainability

GDP id defined as

the market value of goods and services produced in a country in a year.