quizzes 1-6

In the 4Ps of the marketing mix, promotion refers solely to advertsiting a. True b. False

False

An effective MIS assesses information needs, develops needed information, and distributes the information to help managers with decision making. a. True b. False

True

Companies are adapting their promotional efforts to reflect the changing dynamics of American families a. True b. False

True

Companies like coca-cola and facebook deliver customer satisfaction by spreading happiness and connecting individuals through shared experiences a. True b. False

True

Product, price, promotion, and place make up the elements of a firms marketing mic a. True b. False

True

The 4A's framework takes into consideration the buyers view of the market a. True b. False

True

Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies. a. True b. False

true

SBU's identified as cash cows need less investment than stars a. True b. False

true

Smaller companies may lack the skills and resources need to serve larger segments. a. True b. False

true

Target and Kohl's have opened smaller-format stores designed to fit the needs of densely packed urban neighborhoods. This is an example of geographic segmentation. a. True b. False

true

The buying center consists of key decision makers from both the buying organization and the supplier. a. True b. False

false

The objective of descriptive research is to gather preliminary information that will help define the problem and form hypotheses. a. True b. False

false

The office Depot foundation serves its financial publics through a variety of programs a. True b. False

false

Tom usually buys new devices such as PDAs, DVRs, and MP3 players only after his friends and family start owning these devices. In this case, Tom is an innovator. a. True b. False

false

When a consumer learns about a new product for the first time and makes a decision to try it, the consumer is engaged in the evaluation of alternatives process. a. True b. False

false

When sellers pay less attention to the specific products they offer and more attention to the benefits and experiences produced by their products, they suffer from marketing mytopia. a. True b. False

false

Rad, a manufacturer of luxury watches, charges a higher price for its products than its competitors. Despite the high prices, the brand is popular among customers for its quality and service in comparison to cheaper alternatives available in the market. In this case, Rad offers a(n) ________ value proposition. a. More-for-less b. Same-for-less c. All-or-nothing d. More-for-more e. More-for-the-same

more-for-more

Which of the following is considered a major influence on business buyer behavior? a. Social forces b. General need c. Performance reviews d. Organizational factors e. Demographic criteria

organizational factors

New communication technologies like satellite TV and social media are likely to eliminate the need for markets to be geographically segmented as clusters of countries. a. True b. False

true

Vertigo is an electronics company. According to the BCG matrix, which of the following products of Vertifo would most likely classify as a question mark? a. SoLO - a CD player that has a very low market share in a market that is shrinking rapidly b. Electra - a home entertainment system that has a strong market share in a market share in a market that is likely to expand in the future c. Jump - an MP3 player that has a high market share in a market that is not expected to grow significantly d. Blue - a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily e. SpinDrive - a car audio system that has a high market share in a market that has been growing constantly

Blue - a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily

Which of the following is not considered a source of competitive intelligence? a. Key customers b. Online databases c. A company's sales force d. Competitors' internal databases e. Suppliers and resellers

Competitors' internal databases

______ refers to reducing the business portfolio by abandoning products that no longer fit the company's overall strategy. a. Downsizing b. Market segmentation c. Product line extension d. Diversification e. Vertical integration

Downsizing

The citizen action publics in a company's marketing environment include a. Stockholders and investment analysts b. Environmental groups c. News channels d. Employees and managers of the company e. Government trade agencies

Environmental groups

Reseller markets consist of ______ a. Firms that buy goods and services to sell at a profit b. Government agencies that buy goods and services to produce public services c. Firms that buy goods and services to assemble overseas d. Firms that buy goods and services for further profits e. Individuals who buy goods and services for personal consumption

Firms that buy goods and services to sell at a profit

Which of the following is most likely categorized as a business market? a. Firms that buy goods and services to sell for further processing b. Retail outlets that buy goods and services to sell at a discounted prive c. Government agencies that buy goods and services to sell at a discounted prices d. Firms that buy goods and services to resell for profit e. Individuals who buy goods and services for personal consumption

Firms that buy goods and services to sell for further processing

Which of the following has resulted from the increased educational levels of the US population? a. Greater job growth for professional workers b. Lower mobility of the US population c. Lower number of women in the workforce d. Higher number of manufacturing jobs e. Lower acceptance of technological changes

Greater job growth for professional workers

Which of the following is true of a good marketing information system? a. It typically uses only external sources of data in marketing research b. It balances the information that a firm would like to have against what they really need c. It eliminates the time-consuming task of assessing the information needs of a firm d. It focuses solely on maximizing the amount of data generated irrespective of relevance e. It develops a way of offering information about future plans of action that might not be very feasible or cost-effective

It balances the information that a firm would like to have against what they really need

Which of the following is true of survey research? a. It is not suitable for collecting data for descriptive research b. It is the most widely used method for gathering primary data c. It is inflexible and cannot be used in many different situations d. It is the best method to use when people are unwilling to answer questions It is the most suitable method for establishing causal relationships

It is the most widely used method for gathering primary data

Which of the following is true of question formats in questionnaires? a. Open-ended questions are useful in exploratory research to find out what people think b. Close-ended questions are difficult to evaluate when compared to open-ended questions c. A scale question is an example of an open-ended question d. Open-ended questions allow respondents to choose among the best answer options available e. Close-ended questions allow respondents to answer in their own words

Open-ended questions are useful in exploratory research to find out what people think

The boom in online, mobile, and social media has created a new set of social and ethical issues for companies. Their greatest concern involves _____/ a. Failing to reach their target customers through online marketing b. Providing too many alternative products online which confuses customers c. Protecting the privacy of knowing and unknowing customers d. Rarely following the market orientation when devising promotional offers online e. Failing to reach their target customers through online marketing

Protecting the privacy of knowing and unknowing customers

Managing the marketing function begins with a complete analysis of the companys situation. A through _____ is typically undertaken to guide decision making. a. Industry overview b. Situation analysis c. Internal assessment d. SWOT analysis e. Portfoloio analysis

SWOT analysis

_____ are customers who show low potential profitability and little projected loyalty a. barnacles b. true believers c. true friends d. strangers e. butterflies

Strangers

Which of the following are examples of internal publics of a company? a. Governmental departments and agencies that regulate businesses b. The managers, boards of directors, and workers of the company c. Neighborhood residents and community organizations d. Newspapers, magazines, television stations, blogs, and other internet media e. The general public that is directly affected by the company

The managers, boards of directors, and workers of the company

Which of the following is part of the microenvironment of a firms marketing environment? a. The technological resources available to the company b. The political state of the country in which the firm exists c. The cultural forces that exist in a society d. The different demographic trends in the market e. The suppliers who work with the company

The suppliers who work with the company

Which fo the following is true of product positioning? a. Consumers generally reevaluate products every time they make a buying decision b. A product's position is defined by the number of competitors in a market c. Consumers cannot position products with or without the help of marketers d. Product positioning has little influence on the design of marketing mixes e. To simplify the buying process, consumers are likely to position products in their minds

To simplify the buying process, consumers are likely to position products in their minds

Jet Blue's promise to put "You Above All" by "bringing humanly back to travel" their ____ a. Value proposition b. Selling concept c. Production concept d. Segmentation strategy e. Market offering

Value proposition

Suppliers and resellers can update their accounts, arrange purchases, and check orders against inventories through _______. a. Search engines b. Marketing intelligence c. Electronic mail d. A company's extranet e. A company's intranet

a company's extranet

Airsworth is a toy manufacturer based in Australia. Which of the following most likely indicates that Airsworth is following a diversification strategy? a. Airsworth enters the US market with a line of childrens clothing b. Airsworth introduces the toys in the Indian and southeast Asian markets c. Airsworth acquires the rights to manufacture toys resembling a popular cartoon character d. Airsworth develops a new line of educational toys targeting the current market e. Airsworth increases its spending on advertising and promotion

a. Airsworth enters the US market with a line of childrens clothing

When a company chooses to divest a particular strategic business unit, it _____. a. Sells off or phases out the strategic business unit b. Invests more in the strategic business unit to build its market share c. Increases the advertising budget for that strategic business unit d. Gradually increases investment in the strategic business unit over time to maximize profits e. Invests just enough in the strategic business unit to keep its market share at the current level

a. Sells off or phases out the strategic business unit

Which of the following is a difference between the marketing concept and the selling concept? a. The marketing concept focuses on customer needs whereas the selling concept focuses on existing products b. The marketing concept focuses on short term sales, whereas the selling concept strives to build long term customer relationships c. The marketing concept focuses on customer conquest, whereas the selling concept focuses on targeting the right customers d. The marketing concept takes an inside out perspective, whereas the selling concept takes an outside in perspective e. The marketing concept is product centered, whereas the selling concept is production centered.

a. The marketing concept focuses on customer needs whereas the selling concept focuses on existing products

Customer perceived value is defined as a customer's evaluation of the perceived difference between all the benefits and all the cots of a market offering relative to those of competing offers. a. True b. False

a. True

Through consumer-generated marketing, consumers themselves are playing a bigger role in shaping their own brand experiences and those of others.. a. True b. False

a. True

In which of the following circumstances is an organization likely to engage in full partnerships with key consumers? a. When the market has few customers and high margins b. When the firm has a large number of low margin customers c. When the market has a huge number of customers d. When the firm has a frequency marketing program e. When the firm has few marketing resources at its disposal

a. When the market has few customers and high margins

A greater focus on underlying customer needs than on existing customer wants leads to marketing mytopia a. True b. False

b. False

Mattel's American Girl Doll creates special ______ between the dolls and the girls who adore them. a. Values b. Wants c. Brand experiences d. Service offerings e. Benefits

c. Brand experience

Ursa Martin, a book publisher, has decided to work with Hope in Children, a charity foundation that helps feed and educate children in poor countries. Ursa has decided that a percentage of revenue from every book it sells will go to the charity. The books are marketed by conveying the message to customers.. Which of the following marketing techniques descrives Ursa Martin's assoication with hope in children? a. Cause related marketing b. Niche marketing c. Green marketing d. Test marketing e. Joint venture marketing

cause-related marketing

The Amazon Prime program strives to convert casual shoppers into loyal customers. An Amazon Prime customer can be classified as a ____ a. Butterfly b. Stranger c. Barnacle d. True believer e. Laggard

d. True believer

Lilly's, a furniture retailer, sells low-end furniture and accent pieces that are targeted toward lower-income consumer groups. Lilly's most likely segments the consumer market based on ______ variables. a. Behavioral b. Universal c. Psychographic d. Geographic e. Demographic

demographic

Secondary data consist of information collected for the specific purpose at hand. a. True b. False

false

If men and women respond dissimilarly to the marketing efforts for a root beer-flavored malt beverage, they are considered _______ market segments. a. Differentiable b. Reachable c. Accessible d. Observable e. Measurable

differentiable

Port Orleans Shipping markets different services to the tourism, defense, and trade segments. The firm designs separate offers for each segment based on their needs. This approach is called _______ marketing. a. Individual b. Local c. Differentiated d. Concentrated e. Mass

differentiated

which of the following will most likely be included in the "price" component of a company's marketing mix? a. Discounts b. Inventory c. Sales promotion d. Brand name e. Packaging

discounts

Stew Leonard's has created what was been the "Disneyland of Dairy Stores" complete with costumed characters, scheduled entertainment, and a petting zoo. It's built 30 addictions onto the original store, which now serves more than 300,000 customers each week. This legion of loyal shoppers is largely a result of the store's passionate approach to customer service. Instead of focusing on individual functions, Stew and his staff are putting a priority on _______ ? a. Managing partner relationships b. Concerting strangers into butterflies c. Attracting "butterflies" d. Decreasing customer-perceived value e. Capturing customer lifetime value

e. Capturing customer lifetime value

Which of the following is an example of consumer-generated marketing? a. Barton's, a local pet supply store, rewards frequent buyers with vouchers and exclusive offers b. Energix, a manufacturer of soft drinks, attracts customers through televised ads c. Figa, a leading provider of athletic shoes, helps its customers customize their shoes on the website and choose personalized settings d. Cristal, a jewelry store, uses its page on FB to provide info about its upcoming products to its customers e. Fun & Run, a local amusement park, promotes its services by allowing consumers to upload videos and write about the park

e. Fun & Run, a local amusement park, promotes its services by allowing consumers to upload videos and write about the park

Which of the following groups is included in both a company's value chain and its value delivery network? a. Customers b. Suppliers c. Employees d. Competitors e. Distributors

employees

A market researcher wants to find the cause-and-effect relationship between using organic ingredients in food and the subsequent consumption by customers. He invites ten respondents to his research firm and asks them to taste two identical dishes. The dishes were prepared in a similar matter, but one has natural herbs for flavoring, and the other has artifical flavors. This is an example of _______. a. Experimental research b. Descriptive research c. Exploratory research d. Online research e. Ethnographic research

experimental research

"At CL Online, we create customer connectivitiy, anytime, anywhere" is a product oriented mission statement a. true b. False

false

At SBU can be a company division or product line within a divison, but not a single product or brand a. True b. False

false

Big data presents marketers with big opportunities. a. True b. False

false

Cause-related marketing techniques are typically unprofitable for businesses, which is why it is a rarely used form of corporate giving. a. True b. False

false

Exploratory research would be used to gather data about the market potential for a new product. a. True b. False

false

Light users are often a small percentage of a company's market but account for a high percentage of total consumption. a. True b. False

false

Many SBU's start out as stars and move into the question mark category if they succeed a. False b. True

false

Marketers have a better change of taking advantage of a persons secondary beliefs than his or her core beliefs a. True b. False

false

Marketers typically limit their market segmentation analysis to a single variable in order to simplify the process. a. True b. False

false

People use the same products and services as they progress through each life-cycle stage. a. True b. False

false

P&G was among the first to use _______ segmentation when it introduced Secret, a deodorant brand specifically formulated for women's chemistry. a. Gender b. Behavior c. Age and life-cycle d. Geographic e. Psychographic

gender

Which generation is most comfotable using digital technologies? a. Millenial b. Generation Z c. Zoomer d. Lost Generation e. Generation X

generation Z

________ are small groups of consumers who interact directly and informally with product designers without a moderator. a. Traditional focus groups b. Observational groups c. Ethnographic groups d. Immersion groups e. Cross-functional groups

immersion groups

A not-for-profit firm uses a small convenience sample to gather data on customer reactions. It invites a small group of customers for lunch and asks them to share what they think about the products they have purchased from the firm. This is an example of _______. a. Formal surveys b. Neuromarketing c. Informal surveys d. Direct marketing e. Experimental research

informal surveys

Stores offering low-quality alternatives to luxury products at low prices most likely follow a _________ positioning strategy. a. Less-for-much-less b. More-for-less c. More-for-more d. Same-for-less e. More-for-the-same

less-for-much-less

__________ marketing tailors brands and performances to the needs and wants of specific cities, neighborhoods, and even stores. a. Mass b. Local c. Individual d. Niche e. Differentiated

local

Evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are attained Is called ____ a. marketing control b. marketing implementation c. marketing development d. market targeting

marketing control

Which of the following is the first stage of the buyer decision process? a. Purchase decision b. Information search c. Evaluation of alternatives d. Postpurchase behavior e. Need recognition

need recognition

Harper farms raises chickens. For years, it has used wooden coops for hauling poultry to market. When the owner, Jane Harper, went to reuse some of her coops, she noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced. Which stage of the business buying decision process was Harper in when she decided to replace the old coops? a. Problem recognition b. Performance review c. General need description d. Product specification e. Product value analysis

problem recognition

Jeff is in the process of buying a new car. He carefully analyzes the features that he wants in a car, and perceives significant differences in price, quality, and features among three of his favorite models. He rates the models on each factor and ranks them in order of his preference. To which of the following stages of the buyer decision process will Jeff most likely proceed to next? a. Postpurchase behavior b. Evaluation of alternatives c. Need recognition d. Information search e. Purchase decision

purchase decision

The most common research instrument, whether administers in person, by phone, by email, or online, is the ______. a. Mechanical device b. Telephone interview c. Focus group d. Questionnaire e. Personal interview

questionnaire

A shoe company's ad feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a ______. a. Subculture b. Membership group c. Laggard d. Reference group e. Late-majority leader

reference group

Which of the following is the means by which companies post purchase requests online and invite suppliers to bid for their business? a. Extranet links b. Trading exchanges c. Intranet connections d. Traditional procurement e. Reverse auctions

reverse auctions

According to the BCG matrix, products or businesses with a high market share in a high-growth are classified _____ a. stars b. question marks c. heroes d. cash cows e. Dogs

stars

A(n) ______ reflects the general esteem given to the different roles of a person by society. a. Status b. Belief c. Tradition d. Motive e. Attitude

status

A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a(n) ________. a. Modified rebuy b. New task situation c. Straight rebuy d. Dual distribution system e. Exclusive distribution system

straight rebuy

________ is defined as a business strategy where business buyers prefer to buy a complete solution to a problem from a single seller rather than buying and consolidating separate products and services from several suppliers. a. Systems selling b. Supplier development c. Modified rebuy d. Straight rebuy e. New task rebuy

systems selling

A small increase in consumer demand can cause a large increase in business demand. a. True b. False

true

Government regulations are intended to protect consumers, companies, and societal interests. a. True b. False

true

Ideally, a sample should be representative so that a researcher can make accurate estimates of the thoughts and behaviors of the larger population. a. True b. False

true

In vendor-managed inventory, buyers share sales information directly with key suppliers. a. True b. False

true

Many companies have started to target the LGBT market segment which has significant buying power. a. True b. False

true

Which of the following is an approach where firms target a whole market based on common consumer needs? a. Geographic segmentation b. Undifferentiated marketing c. Concentrated marketing d. Micromarketing e. Demographic marketing

undifferentiated marketing