MKTG Chapter 2, MRKT Chapter 3, Marketing CH 4 QUIZ, Marketing CH 5 QUIZ, Marketing Ch. 3 Quiz, Marketing CH 6 QUIZ, Marketing CH 7 QUIZ, Marketing CH 8 QUIZ

अब Quizwiz के साथ अपने होमवर्क और परीक्षाओं को एस करें!

54) In a basic SWOT analysis the "T" stands for ________. A) timing B) trust C) threats D) trade E) tangible

C

Which of the five characteristics identified has an inverse relationship with an​ innovation's rate of​ adoption, meaning as this characteristic​ increases, the rate of adoption is​ slower?

Complexity

The website leftyslefthand.com markets products to​ left-handed consumers only. Which targeting strategy does this​ represent?

Concentrated marketing

Which of the following is likely to slow the adoption of a new​ technology?

Conceptual complexity

Which type of consumer products are frequently purchased with little​ planning, little comparison or shopping​ effort, and low customer​ involvement?

Convenience products

Which of the following is NOT a primary goal of competitive marketing​ intelligence?

Creating an understanding of the​ business-to-business environment

A wedding services company changes its marketing strategy to reflect the fact that more LGBTQ​ (lesbian/gay/bisexual/transgender/queer) marriages are taking place. The company is offering a broader range of ceremonies that cater to this market. Which of the following environments must this wedding company​ analyze?

Cultural

_______________ is a characteristic important in influencing an​ innovation's rate of adoption and described by the degree to which the innovation may be tried on a limited basis.

Divisibility

56) In SWOT analysis, which of the following would be considered a strength? A) internal limitations B) trends in the market C) favorable factors in the environment D) factors that challenge the company's performance E) internal resources

E

Jill Parker owns​ 2,000 acres of ranchland in Iowa.​ Recently, a supply of natural gas was discovered on her property. Not knowing much about the marketing​ environment, she asks you what she should do. Which of the following is the BEST​ advice?s.

Jill should focus on the business market and license the natural gas rights.

technological change

Kodak and Blockbuster each failed to react to the ___________ environmental force, causing them to lose considerable market share and go out of business.

Which of the following are​ tradition-bound, suspicious of​ changes, and adopt the innovation only when it has become something of a tradition​ itself?

Lagging adopters

In determining product​ quality, what are the two dimensions of quality marketers must decide​ upon?

Level and consistency

8) A company's mission statement serves as a statement of ________.

purpose

Which of the following statements about big data is​ correct?

One result of big data is that marketing managers are often overloaded and overwhelmed with information.

Which of the following statements about online research is​ correct?

Online surveys generally have higher response rates than those conducted by mail or phone.

Which of the following is a variable used to segment business buyers that is not used to segment consumer​ buyers?

Operating characteristics

___________ is the service characteristic to which marketers need to pay close attention when there are fluctuations in demand.

Perishability

Which of the following needs in​ Maslow's hierarchy is generally satisfied​ first?

Physiological needs

The environmental force that includes laws and regulations set forth to make trade and marketing practices fair is the __________ force.

Political

Which of the following describes the process of arranging for a market offering to occupy a​ clear, distinctive, and desirable place relative to competing products in the minds of target​ consumers?

Positioning

Marketers of brands understand that they must figure out how to reach​ ___________________ that can exert social influence on others.

opinion leaders

If competitors cannot easily copy the benefit a company chooses to​ promote, that benefit is said to be​ _________.

preemptive

12) Revlon has clearly defined its "mission" of selling lifestyle and self-expression. In order for the firm to launch its strategic plan, the mission needs to next be turned into detailed ________ that guide each level of the company.

product mixes

The second purpose of government regulation is to​ _____________________.

protect consumers from unfair business practices

A purse​ company's ads feature the members of a popular housewives reality show. Product sales increase significantly among fans. From​ fans' viewpoint, the housewives reality show is a​ ______________.

reference group

19) In the Boston Consulting Group approach, ________ serves as a measure of company strength in the market.

relative market share

20) The BCG growth-share matrix classifies four types off SBUs. They are ________ , ________ , ________ , and ________.

stars; cash cows; question marks; dogs

In the BCG approach, ________ are high-share, high-growth businesses or products. They need heavy investment to finance rapid growth. When their growth slows down, they turn into ________.

stars; question marks

72) Which of the following involves looking at whether a company's basic strategies are well matched to its opportunities?

strategic control

1) Which of the following involves adapting a firm to take advantage of opportunities in its constantly changing environment?

strategic planning

When a firm develops and maintains a strategic fit between its goals and capabilities, it is performing ________.

strategic planning

To increase its U.S. market share, Starbucks has stepped up efforts in the areas of product availability and promotion. These are examples of broad ________.

strategies for growth

When a company lengthens a product line by adding more items beyond its current​ range, it is​ ________.

stretching the line

16) The best known product portfolio planning method was developed by ________.

the Boston Consulting Group

When Dr. Lawncare developed his revolutionary new​ solar-powered lawnmower, he expected that during the growth stage of the product life cycle​ ___________.

the company would see rising profits

While a valuable planning tool, a problem with using the BCG matrix centers is that it focuses on ________

the present instead of the future

Which of the following is a useful tool for identifying growth opportunities?

the product/market expansion grid

The major cultural values of a society are expressed by​ people's views of​ ____________________.

themselves, others,​ organizations, society,​ nature, and the universe

11) Which of the following is the principle objective of a market-oriented mission statement?

to satisfy basic customer needs

To create successful new​ products, a company must​ _______.

understand its​ consumers, markets, and competitors and develop products that deliver superior value to customers

When marketers aggressively promote only one benefit to the target​ market, the benefit promoted is known as the product or​ service's _____________________.

unique selling proposition

Which of the following would be an appropriate strategy during the growth stage of the product life​ cycle?

Spend a lot of money on product​ improvement, promotion, and distribution.

Which of the following statements is true regarding standardizing products for international​ markets?

Standardization decreases product​ design, manufacturing, and marketing costs.

There have been dramatic changes in the political environment that affect marketing. Which of the following does NOT represent one of those​ changes?

Strong emphasis on free trade and open borders

____________ is one problem with​ business-to-business e-procurement.

Suppliers being pitted against one another

_______________ consists of many different people who play multiple roles in the buying process.

The buying center

Nailit Cosmetics is advertising its newest line of nail​ polishes, made from a​ nontoxic, water-based nail polish with amazing summer colors. Nailit is selling the products in specially designed bottles that make application easier. Which of the following is a core customer value for​ Nailit's line of​ polishes?

The desire to have beautiful nails

Which of the following is NOT a reason that a firm might want to abandon products or markets?

The economic environment is showing signs of recovery.

Which of the following statements regarding socially responsible product decisions is​ correct?

The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition.

How does the microenvironment of a company differ from its​ macroenvironment?

The microenvironment deals with the​ company, suppliers, marketing​ intermediaries, customer​ markets, competitors, and publics.

Technological Forces

The microenvironment of a company's market environment includes all of the following except ________.

Which of the following includes shortages of certain raw​ materials, higher pollution​ levels, and more government​ intervention?

The natural environment

_____________________ determines if a buyer is satisfied or dissatisfied with a purchase.

The relationship between the​ consumer's expectations and the​ product's perceived performance

Which of the following statements is true regarding product life cycle​ curves?

The sales of a typical product follow an​ S-shaped curve made up of five stages.

Which of the following statements is correct concerning service marketers going​ global?

The trend toward growth of global service companies is expected to continue in the near future.

According to the model of buyer​ behavior, what is in a​ buyer's "black​ box"?

The​ buyer's characteristics and decision process

Which of the following statements about service marketing is​ correct?

Training current employees better and hiring new ones with more skills can increase service productivity.

Which of the following statements regarding managing service quality is​ correct?

Unlike product​ quality, service quality will always vary.

The quality of services depends on who provides them as well as​ when, where, and how they are provided. Which characteristic of services does this​ describe?

Variability

Which of the following is considered part of an augmented product rather than that of an actual product or core customer​ value?

Warranty

Nguyen's Sporting Goods is having difficulty obtaining the credit it needs to expand. What should the company do in order to alleviate its financial​ situation?

Work out a plan with its financial intermediaries

5) Which of the following provides an answer to these questions: What is our business? Who are our customers? What do our customers value? What should our business be?

a mission statement

A company can obtain new products by buying a whole​ company, a​ patent, or a license to produce someone​ else's product through​ _______________________.

acquisition

Kidcomp, an American​ computer-manufacturing firm, targets children younger than age 10 by providing free games and applications. The​ firm's marketing approach is reflective of​ ________ segmentation.

age and​ life-cycle

14) Which of the following can be a company division, a product line within a division, or sometimes a single product or brand?

an SBU

After management has identified the key businesses making up its company, what is the next step in portfolio analysis?

assessing the attractiveness of its SBUs

After market strategy is​ developed, the next step of the new product development process is​ _______________.

business analysis

13) The collection of businesses and products that make up a company is called its ________.

business portfolio

Heeltoe, a boutique that caters to the footwear needs of​ women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of​ affluent, middle-aged​ women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on​ ________ variables.

demographic

Starbucks Coffee has recently begun selling and playing compilation CDs and is supporting its own XM satellite radio station. This represents which strategy for growth?

diversification

Which of the following entails reducing the business portfolio by eliminating products that no longer fit the company's overall strategy?

downsizing

The group of factors that affect​ consumers' purchasing power and spending patterns is called the​ _________________.

economic environment

A​ company's marketing information system​ (MIS) is valuable because it​ ___________________.

enables a company to use customer insights to improve relationships with customers

Ad agency Young​ & Rubicam's BrandAsset Valuator measures brand strength along four consumer perception dimensions. Brand​ ___________ is defined in terms of how highly consumers regard and respect the brand.

esteem

4) Which of the following is NOT a step in the strategic planning process?

evaluating all members of the value chain

You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In​ exchange, you receive a small payment. You are participating in​ a(n) ________.

focus group

When marketers want to promote their products and services through​ word-of-mouth marketing​ programs, they typically begin by​ ________.

generating​ person-to-person brand conversations

A service firm must orient and motivate its​ customer-contact employees and supporting service people to work as a team to provide customer satisfaction. This process is known as​ _________________________.

internal marketing

New product commercialization takes much thought and planning. The first critical step in the commercialization process is​ ____________________.

introduction timing

The three functions of​ __________ include​ identifying, describing, and promoting the product.

labelingQ

A common practice among marketers is to identify and develop new markets for their existing products. This practice is called ________.

market development

In the Boston Consulting Group approach, ________ provides a measure of market attractiveness.

market growth rate

17) Most portfolio analysis methods evaluate SBUs on two dimensions, namely ________ and ________.

market or industry attractiveness; strength of the SBU's position

Making more sales to current customers without changing a firm's products is ________.

market penetration

Starbucks has introduced a debit card that lets customers prepay for coffee and snacks. This effort by Starbucks management is an example of ________.

market penetration

Which of the following is the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors?

market segmentation

Your firm is attempting to divide up the total market to determine the best segments it can serve. Which is the correct order of doing so?

market segmentation, target marketing, market positioning

The process of customer-driven marketing involves which of the following?

market segmentation; target marketing; differentiation; positioning

Dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies is known as​ ______________________.

market segmenting

Which department in a company carries the primary responsibility for achieving profitable growth?

marketing

Which of the following measures the profits generated by investments in marketing activities?

marketing ROI

40) Which of the following is the marketing logic by which a company hopes to achieve profitable customer relationships?

marketing strategy

The type of segment characteristic in which the​ size, purchasing​ power, and profiles of the segments can be quantified is known as​ _______________________

measurable

Mi Rancho Supermarkets is a chain grocer that locates stores in neighborhoods with large Hispanic populations. Their stores carry a greater selection of Hispanic and Latin foods. The type of marketing that Mi Rancho uses is an example of​ ________.

micromarketing

When a product is in the maturity stage of the​ PLC, the company tries to increase consumption by finding new users and new market segments for its brands. This attempt to increase consumption is known as​ ______________________.

modifying the market

Firms that manufacture seasonal products target their consumers primarily through​ ________ segmentation.

occasion

71) Ensuring that the company achieves the sales, profits, and other goals set out in its annual marketing plan is the purpose of ________.

operating control

A manufacturer of​ half-ton pickup trucks creates a positioning map for the U.S.​ half-ton pickup market. The position of each circle on the map indicates the​ brand's perceived positioning on two​ dimensions: price and orientation​ (economy versus​ performance). The size of each circle indicates the​ brand's relative market share. This is an example of a​ ________________.

perceptual positioning map

The third purpose of government regulation is to​ _____________________.

protect the interests of society against unrestrained business practices

The purpose of business legislation is primarily based on​ ________.

protecting companies from each other

Dividing buyers into groups based on social​ class, lifestyle, or personality characteristics is called​ ________ segmentation.

psychographic

H2Coast, an automobile​ manufacturer, produces​ fuel-efficient hybrid vehicles that are targeted toward​ high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on​ ________ variables.

psychographic

The marketing manager at Only Organic Delicatessen targets customers who are focused on​ organic, healthy food choices but who still want to dine out. The restaurant chain offers a wide variety of​ organic, low-fat, locally raised produce and foods. Only​ Organic's approach is best referred to as​ ________ segmentation.

psychographic

Installing an innovation management system to​ collect, review,​ evaluate, and manage new product ideas represents​ a(n) ______________ approach to new product development.

systematic

Which of the following is often considered a key business marketing strategy for winning and holding​ accounts?

systems selling

Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________.

value chain

39) Multinationals like Honda Motor Co. and Wal-Mart stores have designed programs to work closely with their suppliers to help them reduce their costs and improve quality. This illustrates the importance of an efficient ________.

value delivery network

Service​ _______ means that the quality of services depends on who provides them as well as​ when, where, and how they are provided.

variability

Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six​ years, sales have continuously declined and profits have almost completely disappeared. The owner of​ Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to​ Tina's Tunes?

​Tina's Tunes is likely to fail because it is ignoring the technological environment.

48) Which of the following is the place a product occupies in the consumer's mind relative to competition? A) position B) placement C) market segmentation D) market targeting E) product promotion

A

51) In the four Ps of the marketing mix, design, packaging, services, and variety all fall under the category of ________. A) product B) price C) promotion D) place E) position

A

53) In the marketing management functions, an SWOT analysis should ________ a marketing plan. A) precede B) coincide with C) follow D) evaluate E) take priority over

A

61) IBM has its sales and marketing people assigned to markets in specific countries, regions, and districts. This is an example of which type of marketing organization? A) geographic B) product C) functional D) divisional E) psychographic

A

66) The ________ organizational system's main advantage is that the company is organized around the needs of specific market segments. A) market management B) geographic C) product management D) vertical E) functional

A

68) Evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained is called ________. A) marketing control B) strategic control C) operating control D) developmental control E) efficiency

A

Which of the following identifies a change in the technological environment that could affect the success of a​ business?

A company develops a new battery that lasts twice as long as its predecessor.

A power tool company wants to give its customers access to​ internal, nonpublic information about how best to use its product in creative ways. What should the company create to provide customers with this​ information?

A company extranet

In the early​ 1970s, Gary Dahl sold Pet Rocks. The product had a​ short, temporary period of unusually high sales driven by consumer enthusiasm and immediate product​ popularity, but then sales declined very quickly. The PLC sales pattern for Pet Rocks is known as​ ________________.

A fad

Proactive businesses often take aggressive actions to affect consumers and the forces in their marketing environments. Which of the following does NOT depict a proactive​ company?

A local restaurant refusing to counter false allegations of salmonella

7) All of the following are accurate guidelines for a company's mission statement EXCEPT which one?

A mission statement should be narrow.

To be​ successful, why should companies try to adopt a proactive stance on​ marketing?

A proactive stance allows a company to take advantage of opportunities as they arise.

Which of the following correctly defines a​ product?

A product is anything offered to a market that might satisfy a need or want.

What constitutes a marketing information system​ (MIS)?

A system to generate and validate actionable customer and market insights

Calvin's Cupcakes is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST path for this company to start to develop an efficient​ MIS?

Assess the information needs of the company

46) Your new employer has asked you, as a new marketing graduate, to develop a group of potential customers who might respond in a similar way to a given set of marketing efforts. You have been asked to develop a(n) ________. A) target market B) market segment C) market D) market strategy E) undefined niche

B

Which of the following generational groups represents one of the most powerful forces shaping the marketing​ environment?

Baby boomers

Which of the following describes the process of dividing markets into groups based on​ consumers' knowledge,​ attitudes, uses, or​ responses?

Behavioral segmentation

Which types of companies would most benefit from conducting marketing​ research?

Both large multinational firms like Disney and IBM and small local firms

47) Which of the following involves evaluating each market segment's attractiveness and selecting one or more segments to enter? A) market segmentation B) differentiation C) market targeting D) the market mix E) positioning

C

49) Effective positioning begins with ________ the company's marketing offer in order to give consumers more perceived value. A) pricing B) aligning C) differentiating D) promoting E) placing

C

50) Which of the four Ps describes the goods-and-services combination the company offers to the target market? A) price B) promotion C) product D) place E) package

C

58) The main section of the marketing plan presents a detailed ________ analysis of the current marketing situation. A) who, when, where B) when, where, how C) SWOT D) competitor E) economic

C

62) Which of the following is the most common approach to marketing organization? A) geographic B) product management C) functional D) divisional E) combination

C

65) The ________ organizational format was first used by Procter and Gamble in 1929. A) geographic management B) functional C) product management D) customer management E) market management

C

67) An increasingly large number of firms are changing their organizational focus from ________ to ________. A) product management; functional management B) product management; geographic management C) brand management; customer management D) geographic management; functional management E) global management; regional management

C

23) In the BCG matrix, income from ________ can be used to help finance the company's question marks and stars.

Cash Cows

To exercise social​ responsibility, many companies are linking themselves to what type of​ marketing?

Cause-related

Socially responsible target marketing would classify which of the following as an especially vulnerable target market for harmful or controversial​ products?

Children

Which of the following incorporates the advantage of brands operating in different categories with the combined brands creating broader consumer appeal and greater brand​ equity?

Co-branding

Which of the following is NOT a social factor influencing consumer buying​ behavior?

Cognitive dissonance

Consumers obtain information from numerous sources. Which of the following involves dealer and manufacturer​ websites, packaging, and​ displays?

Commercial sources

Which of the following is NOT a product life cycle​ (PLC) stage?

Commercialization

Economic

Companies such as Walmart and Target, which focus on lower prices and greater value, are most likely reacting to which of the following environmental forces?

Demographical

Companies that are successful in appealing to different generational needs and wants are successful in reacting to which macroenvironmental force?

Which of the following is NOT a step in the marketing research​ process?

Comparing research findings to other studies

Which of the following refers to the degree to which an innovation fits the values and experiences of potential​ consumers?

Compatibility

Lucy Ortiz is preparing a PowerPoint presentation of the marketing process to show at a sales meeting. ________ should appear in the center of her diagram depicting marketing strategies and the marketing mix.

Cusstomer value and relationship

___________________ is the value of customer relationships that a brand creates.

Customer equity

Juanita owns a small​ hot-air balloon company in​ Albuquerque, New Mexico. She recently started a Facebook page for her​ company, and many of her customers are asking for​ store-sponsored hot-air balloon trips. They believe​ Juanita's expertise would make her the perfect guide. Juanita decides to host quarterly​ hot-air balloon trips and experiences a huge increase in sales and customer satisfaction. Which of the following is the BEST conclusion that can be drawn from​ Juanita's situation?

Customer insights can provide valuable information to a small businesses.

Intuit​ Labs, a division of​ Intuit, the accounting and payroll software​ developer, follows a​ "Design for Delight​ (D4D)" development​ philosophy, which states that products should delight customers by providing experiences that exceed expectations. Which new product development approach is Intuit​ using?

Customer-centered new product development

52) Today the four Ps are compared to the four Cs. Product and place are called ________ and ________, respectively. A) convenience; customer solution B) customer cost; convenience C) communication; customer solution D) customer solution; convenience E) communication; convenience

D

55) In a basic SWOT analysis, the "S" stands for ________. A) situation B) solutions C) satisfactions D) strengths E) strategy

D

57) In SWOT analysis, which of the following refers to factors in the external environment? A) strengths B) strategies C) weaknesses D) opportunities E) trends

D

59) A marketing plan begins with an executive summary, which quickly overviews goals and ________. A) budgets B) controls C) promotions D) recommendations E) obstacles

D

60) According to the textbook, your boss is most likely referring to ________ when she mentions "doing things right." A) strategy B) planning C) objectives D) implementation E) efficiency

D

63) Berman Electric, a chain of 18 appliance stores, has a marketing organization in which specialists head different marketing activities. What is this type of organization called? A) geographic B) product C) organic D) functional E) market

D

69) The marketing control process entails the following steps in order: setting goals, ________, evaluating performance, and ________. A) evaluating goals; measuring performance B) achieving goals; measuring performance C) taking corrective action; measuring performance D) measuring performance; taking corrective action E) taking corrective action; following up

D

70) Which of the following is NOT a step in the marketing control process? A) setting goals B) measuring performance C) taking corrective action D) defining the mission E) evaluating the causes of gaps between expected and actual performance

D

What is the nature of demand in business​ markets?

Demand in business markets is derived demand.

___________ segments are those segments that are conceptually distinguishable and respond differently to different marketing mix elements and programs.

Differentiable

64) Modern marketing departments are arranged in the following ways, EXCEPT which one? A) functional organization B) geographic organization C) product management organization D) market management organization E) strategic management organization

E

Munoz Specialty Foods groups its customers by regions in the United​ States, such as​ Midwest, Northeast, and Southwest. For each​ region, Munoz creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its​ market?

Geographic

The​ Ritz-Carlton has carefully created a strong and distinctive differentiation​ strategy, which is supported by everything the company​ says, is, and does. Which type of differentiation is​ this?

Image differentiation

A company is conducting market research to determine the best areas in which to sell its product. It has developed the research plan. What is the next step of this​ company's research​ plan?

Implement the plan

Which of the following is NOT one of the typical advantages of​ e-procurement systems?

Improving​ customer-supplier relationships

An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO MOST likely to do as a function of his or her​ job?

Inform customers of the​ company's privacy policy

Which of the following statements about new product development strategy is​ correct?

Innovation can be very expensive and very risky.

Which of the following statements regarding packaging is​ correct?

Innovative packaging can give a company an advantage over competitors and boost sales.

Marketers obtain needed marketing information from which of the​ following?

Internal​ data, marketing​ intelligence, and marketing research

_______________ represent an internal source of new product ideas for a company.

Intrapreneurial programs

25) Which of the following does NOT accurately reflect a problem with the BCG matrix approach?

It focuses on planning for the future.

Of the​ following, which best reflects how the American population has changed over​ time?

It has become more​ diverse, better​ educated, and more mobile.

When we see Hello Kitty on​ children's clothing, Disney characters on​ lunchboxes, and SpongeBob SquarePants on breakfast​ cereals, which form of brand sponsorship is being​ used?

Licensing

When Doritos comes out with new flavors of its tortilla​ chips, what brand development strategy does it​ employ?

Line extension

The​ demographic, economic,​ natural, technological,​ political, and cultural forces that affect a​ company's ability to serve its customers make up which of the​ following?

Macroenvironment

Which of the following statements regarding the business market is​ correct?

Many sets of business purchases are made for one set of consumer purchases.

Which stage of the PLC is characterized by peak​ sales, low costs per​ customer, high​ profits, mainstream​ adopters, and a stable number of competitors that are beginning to​ decline?

Maturity

Which stage of the product life cycle normally lasts longer than the others and poses great challenges to marketing​ management?

Maturity

When Subaru of America allows Outback buyers to customize cars to meet their exact needs and​ preferences, it is practicing which type of​ marketing?

Micromarketing

Which of the following statements concerning new products is​ correct?

Modified and improved products are considered new.

What is the first step of the buyer decision​ process?

Need recognition

Which of the following lists the five steps of the buyer decision process in the correct​ order?

Need​ recognition, information​ search, evaluation of​ alternatives, purchase​ decision, and​ post-purchase behavior

When​ Coca-Cola saw the growth of the​ bottled-water category, it launched DASANI​Ò​, its brand of bottled water. Which brand development strategy did​ Coca-Cola use in launching​ DASANI?

New brand

Which of the following would make a segment less attractive to​ enter?

New entrants finding it easy to enter the segment

Which of the following BEST describes research​ relationships?

Observation is best suited for exploratory​ research, surveys for descriptive​ research, and experiments for causal research.

Which of the following is a personal characteristic influencing a​ consumer's buying​ behavior?

Occupation

Kroger, headquartered in​ Cincinnati, Ohio, is one of the​ nation's largest grocery chains. It owns several brands sold in its​ stores, including Private​ Selection, Heritage​ Farm, and Simple. These brands represent which type of brand​ sponsorship?

Private brands

​Beverly's Burgers came under fire recently when allegations were made that its veggie burgers were actually made with beef. To counter the​ claims, the restaurant called in a company to test not only its veggie​ burgers, but also the rest of its vegetarian options to prove they lacked meat. The results were displayed publicly on the​ restaurant's Facebook page. What BEST describes​ Beverly's Burgers' response to the​ allegations?

Proactive

The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the first stage in this​ process?

Problem recognition

Which of the following statements regarding the important decisions in the development and marketing of individual products is​ correct?

Product attributes that communicate and deliver benefits to the consumer include​ quality, features, and style and design.

______________________ protect consumers from harm and the company from liability by proactively ferreting out potential product problems.

Product stewards

At one​ time, Miller Beer was known as the​ "champagne of bottled​ beer." It was targeted at an elite class of customers.​ Later, to increase​ sales, Miller was repositioned to attract members of the working middle class. What is this segmentation method​ called?

Psychographic

Which of the following would be good advice for someone conducting marketing research in a foreign​ country?

Reaching respondents in other parts of the world is more difficult than it is in the United States.

Which of the following would NOT be useful in determining marketing ROI?

SWOT analysis

Which of the following information must a researcher evaluate to make certain it is​ relevant, accurate, and​ impartial?

Secondary information

Amazon is now promising​ same-day pick-up of goods as well as local secure​ pick-up points. What point of differentiation is​ this?

Services differentiation

Goldtone is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of​ short-listed ideas will be adequately rewarded. In this​ case, Goldtone is using​ ________ to generate new product ideas.

crowdsourcing

A sound marketing strategy begins with which of the following?

customer analysis

The real value of marketing information rests in the​ _____________________.

customer insights it provides

Jack Welch, CEO at General Electric, said that "Companies can't give job security, only ________ can."

customers

Unlike strategic-planning efforts of the past, which were conducted primarily by senior managers, today's strategic planning is ________.

decentralized

3) Which of the following is the first step in strategic planning?

define the company mission

22) ________ are low-growth, high share businesses or products. They generate a lot of cash that the firm uses to pay its bills and support other SBUs that need investment.

Cash Cows

Which of the following describes the type of research used to help define the research problem and suggest​ hypotheses?

Exploratory research

__________________ is a group numbering 55 million or more consumers and sometimes is an overlooked​ "in-between" consumer group because it is both smaller and less materialistic than other groups and prizes​ experience, not acquisition.

Generation X

Which generational group seamlessly blends online and offline worlds as they socialize and​ shop?

Generation Z

The role of a​ company's marketing intermediaries is to do which of the​ following?

Help the company​ find, promote,​ sell, and distribute products

___________consists of the analysis​ tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.

Marketing analytic

6) ________ should be market oriented and defined in terms of ________.

Mission statements; customers' needs

_____________________ is the step of the new product development process during which a physical product is first developed.

Product development

Chicago's Best Pizzeria has been operating on the north side of Chicago for more than 30 years. Its target market includes young urban professionals who want​ new-style organic pizzas with exotic ingredients.​ However, in recent​ years, the population in the​ pizzeria's neighborhood has been​ shifting, and now fewer young urban professionals live there. The population has grown older and wants traditional​ pizza, not pizza with exotic ingredients. Which of the following identifies the​ pizzeria's BEST response to this​ situation?

Target a new market with a different product.

Wonders such as​ smartphones, driverless​ cars, and antibiotics can be attributed to which marketing​ environment?

Technological

Which of the following BEST describes the purpose of customer​ insights?

To create more value for customers

Which of the following is the primary reason firms use competitive marketing​ intelligence?

To gain early insights into competitor moves and​ strategies, and to prepare quick responses

Why is it important for a company to collect both primary and secondary data when conducting marketing​ research?

To have a​ "full picture" of the subject of its study

Which of the following is a pure tangible​ good?

Toothpaste

_________ refers to the practice of integrating ethnic themes and​ cross-cultural practices within a​ company's mainstream marketing.

Total market strategy

Which of the following correctly describes customer​ purchases, sales force​ contacts, service and support​ calls, web and social media site​ visits, satisfaction​ surveys, credit and payment​ interactions, and market research​ studies?

Touch points

24) The four possible strategies that can be pursued for each SBU are building, holding, ________, and ________.

harvesting; divesting

Crowdsourcing is used in the​ _______________________ step of the new product development process.

idea generation

Adding a new product line to an existing portfolio means that the line has​ __________________.

increased product mix width

Groups of​ __________________ products consist of materials and​ parts, capital​ items, and supplies and services.

industrial

The type of segmentation that forms segments of consumers who have similar needs and buying behaviors even though they are located in different countries is known as​ _________.

intermarket segmentation

10) All of the following are examples of product-oriented mission statements, EXCEPT which one?

"We sell lifestyle and self-expression; success and status; memories, hopes, and dreams."

9) Which of the following is NOT a market-oriented business definition?

"to sell tools and home repair and improvement items"


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