WWU MKTG 380 Midterm 1 Questions

Which of the following is an example of person marketing? A firm creating awareness of the importance of using public transport. A country promoting its sightseeing spots and cuisines. A mall being inaugurated by a popular commercial actor. A firm promoting an inter-state soccer match.

A mall being inaugurated by a popular commercial actor.

Which of the following is true of a strategic business unit? A strategic unit directly adopts the mission of its parent organization. Each strategic unit depends on plans of the other units in the organization. A strategic unit has its own managers, resources, objectives, and competitors. A strategic unit is a key business unit within a small company that does not differ significantly from the parent company.

A strategic unit has its own managers, resources, objectives, and competitors

According to Maslow's hierarchy, an art enthusiast joining an art appreciation society would be satisfying which level of her consumer needs? Self-actualization Esteem Belongingness Safety Physiological

Belongingness

Mateo recently graduated from high school and it's always been assumed that he would go to college after graduation. His family believe education is important to success in life and know that Mateo will be able to achieve success with a combination of hard work, persistence, and knowledge. Mateo has been influenced by: Culture Advertising Government Friends

Culture

_____ is the process of searching through computerized information files to detect patterns that guide decision making. Sales forecasting Data mining Exploratory research Ethnographic research

Data mining

The regulatory agency that can require advertisers to provide additional information about products in their advertisements is the _____. Federal Trade Commission (FTC) Environmental Protection Agency (EPA) Food and Drug Administration (FDA) Federal Advertising Commission (FAC)

Federal Trade Commission (FTC)

Indigo Ltd. wanted to increase its customers by applying the marketing concept. Which of the following would be an appropriate way to apply this approach? Maximize production of goods Focus on meeting the needs of the consumers Offer more product variety than competitors Produce high-quality goods

Focus on meeting the needs of the consumers

Helene made sure that her company car was equipped with OnStar in case she ever has car trouble or gets lost while traveling between appointments. OnStar is a service which can connect the car occupants with a personal service attendant to provide assistance. Which level of Maslow's hierarchy of needs is Helene addressing? Social needs Safety needs Esteem needs Self-actualization needs

Safety needs

McBurgers plans to introduce a new line of fish sandwiches to 15 stores in eastern United States for a six-month period. If the product and promotional efforts behind it are successful, the company may launch them nationwide. What type of research is being conducted to determine potential success? Stratified sampling Exploratory research Test marketing Trend analysis

Test marketing

You have just completed an extensive marketing research project designed to determine the potential of a new service your company is considering launching. Using surveys, polling, face-to-face interviews, and mail-in questionnaires, you have determined that the consumers who are most inclined to use this new service live in densely populated urban areas within certain zip codes. What approach to market segmentation should you use? Use psychographic variables to segment the market Use demographic variables to segment the market Use behavior variables to segment the market Use geographic variables to segment the market Use sociocultural variables to segment the market

Use geographic variables to segment the market

Which of the following conditions would lead a company's marketers to find a new market, change prices, or compete in other ways to maintain an advantage? When the bargaining power of suppliers is low When the bargaining power of buyers is low When the threat of substitute products is high When the threat of new entrants is low

When the threat of substitute products is high

A popular clothing brand in Switzerland decided to launch a new line of home furniture under the same brand name. This strategy being used by the company to launch its new offerings is called _____. line engagement brand reinforcement line extension brand extension

brand extension

A company has introduced a new product in the market. The company distributes free samples of this product to people so that they can try it. This product is at the _____ stage of brand loyalty. brand insistence brand association brand preference brand recognition

brand recognition

Enterprise Rental Cars is able to secure favorable prices from major automobile manufacturers such as Ford and Chevrolet for their rental fleets due to the large number of vehicles they purchase each year. This is an example of _____, one of Porter's Five Forces related to marketplace competition. threat of new competitors distinctive competency buyer power threat of substitutes

buyer power

Sally Myers, head of marketing at Sally's Salon, serviced six new customers over the past two weeks. Through a feedback form, Sally learned that all of them had acted upon the opinions of their friends and family members. What Sally encountered is an example of: transaction-based marketing. sales orientation. marketing myopia. buzz marketing.

buzz marketing.

Consumers sometimes experience feelings of uncertainty after a major purchase. This post purchase anxiety results from an imbalance among the person's knowledge, beliefs, or attitudes. For example, you may have had these feelings when you first went away to college. Was this the best school for me? Is this where I belong? This post purchase anxiety is known as: purchase rejection buyer discord cognitive dissonance consumer satisfaction

cognitive dissonance

Palmer Inc. recently changed its promotional strategies for marketing the products. The marketing team at Palmer has been asked to evaluate the target market and the marketing mix elements to find ways to improve the effectiveness of the marketing strategies. Since the firm already knows the purpose of its research, the next step in the marketing research process is to: create research design collect data formulate a hypothesis conduct exploratory research

conduct exploratory research

Your boss believes strongly in the potential of special software that has been developed to search for patterns in computerized data files. This software is used primarily for ____. data warehousing predictive analytics competitive intelligence MIS support data mining

data mining

Based on the Young & Rubicam's BrandAsset Valuator model, _____ is a dimension of brand personality that refers to a brand's ability to stand apart from competitors. knowledge differentiation relevance competence

differentiation

Technological changes and the increased use of Wi-Fi has enabled companies such as Netflix to create a large consumer following and changed consumer's viewing habits. Netflix has emerged as an entertainment company offering original content that's not available on cable or satellite networks. Netflix is a _____ competitor to cable and satellite companies direct indirect insignificant substitute

direct

YOU Inc., a radio cassette manufacturer, sold its business due to poor market shares. According to the BCG Matrix, the firm sold its business because the business had become a _____ as seen in its poor prospects and performance. star question mark cash cow dog

dog

Because of competitive pressures, some firms have used packaging and labeling practices that are questionable, misleading, deceptive, and unethical. This is an example of issues related to __________. ethics in customer relationships ethics in pricing ethics in product strategy ethics in promotion

ethics in product strategy

Many characteristics were likely important when you chose which college or university to attend. For instance, students often consider the distance from home, programs of study offered, reputation of the school, success of the athletic teams, and cost of attendance. These different elements represent common: evaluative criteria brand awareness elements selection drivers differentiators

evaluative criteria

Tabitha is interested in purchasing new head phones and has set a budget of up to $350. She's narrowed her choice to Bose, Beats by Dr. Dre and Exeo Psyko. These three brands are known as her _____ set: evoked alternative purchase acceptance

evoked

Segmentation by benefits sought is a product-related segmentation approach that: determines the marketer's effectiveness in satisfying the consumer. measures brand loyalty and consumer perception. reevaluates customer reactions post-consumption. focuses on the attributes that people seek in a product.

focuses on the attributes that people seek in a product.

Compared to undifferentiated marketing, the firm that practices differentiated marketing may generally expect: less sales by segment. lower total production costs. greater promotional costs. lower inventory costs.

greater promotional costs.

Recently, a top economist to the Federal Reserve bank predicted that market conditions would be favorable with low levels of inflation and low unemployment rates. Which of the following might be a response by marketers to this economic forecast? increasing promotional efforts limiting new product offerings reducing distribution lower prices

increasing promotional efforts

Dayer's, a popular ice-cream brand, added new flavors to its existing line of ice creams to attract kids. This is an example of _____. brand extension line extension brand engagement line engagement

line extension

Undifferentiated marketing is also called _____. societal marketing micro marketing concentrated marketing mass marketing

mass marketing

Erica is a marketing researcher involved in improving retail store layouts. She would like to know the order in which various types of products are purchased by customers. She also wants to find out what type of assistance is required by the customers while purchasing products. The best method for Erica to collect this data would be by: observation telephonic surveys voluntary mail-back questionnaires Delphi technique

observation

Grayson is majoring in marketing and going through the professional sales program. While he has never played golf, he wants to learn how since he heard "more business gets done on the golf course than in the office." Grayson does not know much about the game, but has asked his friend Drake for some advice. Drake is on the university's golf team and a trendsetter in using new golf equipment. Drake enjoys sharing his knowledge experiences about golf equipment with others, who respect his judgment and often follow his advice. As far as golf equipment goes, Drake can be considered a(n): societal liaison opinion leader consumer advocate product director

opinion leader

A university sells customized sweatshirts, pullovers, and jerseys to its students and staff. This is an example of _____. cause marketing organization marketing person marketing event marketing

organization marketing

An example of a firm's strength discovered by a SWOT analysis might be: ownership of valuable patents. a narrow current product line. changing buyer tastes in the marketplace. existing government policies favoring the industry.

ownership of valuable patents.

State bureaus of tourism and conventions typically engage in _____ marketing. organization person place cause

place

In Australia, consumer spending in the past few months has seen an upward trend, and buyers are willing to spend more on premium brands. From this pattern, we can say that Australia is in the _____ stage of the business cycle. recovery prosperity recession depression

prosperity

Promotional schemes like frequent shopper programs provide incentives to loyal buyers. Considering Porter's Five Forces model, such offers will: reduce the threat of new entrants. decrease the rivalry among competitors. decrease the bargaining power of the supplier. increase the threat of substitute products.

reduce the threat of new entrants.

Many hotel chains offer free stays and other perks to repeat customers. This is an example of: relationship marketing. transaction-based marketing. interactive marketing. social marketing.

relationship marketing.

Walmart is evaluating its performance records of the previous years that are stored in its database. In addition to this, the company is also evaluating its previous year invoices. This evaluation process carried out by firms is called _____. sales analysis financial iteration market capitalization interpretative research

sales analysis

A consumer goods company segments its markets on the basis of purchase patterns of their customers. The company groups its consumers who regularly buy their product into heavy, moderate, and light users, and nonusers. This segmentation approach is an example of _____. segmentation by benefits sought geographic segmentation segmentation by usage rates distributive segmentation

segmentation by usage rates

Jordan's girlfriend, Kerstyn, asked him to attend her sister's wedding with her. Kerstyn had never met Jordan's family and wanted to make a good first impression, so she spent a lot of time searching for a dress for the wedding. While she found one that she thought looked nice, when she tried it on she thought "this just isn't me!" We can say the dress didn't fit with Kerstyn's: self-concept personal image mirror image personal identity

self-concept

The leaping jaguar symbol, featured on cars of a particular brand, is a part of the brand's: service mark trade dress watermark trade token

trade dress

Dine&View Movie Theaters has decided to close its east side location. It had been consistently understaffed, resulting in poor dining and viewing experiences for many customers. Recognizing that its resources were too limited to operate three locations, it will move employees from the east side location to the two remaining locations. Dine&View was likely asking: "In what markets should we compete?" "Should we compete?" "How should we compete?" "Why should we compete?"

"In what markets should we compete?"

Which of the following is a combination of person, cause, and organization marketing? Tiger Woods endorsement of Nike, a sports company and Accenture, a consulting company. The Nobel Peace Prize for Al Gore for his work on global warming. UNICEF work to improve the living conditions of children across the world. Angelina Jolies role as a UN Goodwill Ambassador for refugees.

Angelina Jolies role as a UN Goodwill Ambassador for refugees.

Nivea works for Bonbon, a fair-trade chocolate company based in California. In addition to being recognized for the delicious, low fat treats the company manufactures, Bonbon is also known for fair labor practices at its factories. When interviewed, 83% of the company's loyal customers said when they couldn't find Bonbon products for purchase in local stores, they ordered them online rather than buy substitute products. Which type of brand loyalty is illustrated here? Brand insistence Brand preference Brand recognition Brand name Brand competition

Brand insistence

In your regular goods and services consumption activities, you purchase products from the wholesaler for resale and for use in your store's daily operations. You also purchase products that you will feature in the gift baskets you make. On the basis of this information, which of the following best describes the market component you are part of? Professional Business Consumer Resale Manufacturing

Business

The lumber that a carpenter purchases to make a table for a customer can be classified as a(n): Impulse product Business product Consumer good Final product

Business product

Candace has been using the same shampoo brand for decades. When she finally dyes her hair, however, her hairdresser informs her that she will need to find a new shampoo that can help maintain her new color, prevent breakage, and condition her hair. Before going to the beauty supply store, Candace calls a few friends for recommendations and conducts web-based research on shampoos that address her specific needs. What can one infer about purchase decisions?​ Every consumer approaches purchase decisions the same way. Buying shampoo can be a high-involvement purchase decision. Purchase decisions are always based on personal factors and preferences The same purchase decision requires the same level of involvement every time. Product cost is the only factor that determines whether a consumer will engage in a low- or high-involvement purchase decision

Buying shampoo can be a high-involvement purchase decision.

There are a number of strategies that you can use to position your company's technology product in the mind of the consumer. You decide to focus your advertising campaign on the perception that your product is the best compared to others in the marketplace. Which of the common categories for product positioning are you using to develop your marketing campaign? Application Usage rate Product attributes Competitive Product user

Competitive

Which of the following is true of convenience products? Consumers generally don't have prior need recognition of convenience products before purchasing them. Consumers generally tend to purchase convenience products immediately and with minimal effort. Consumers tend to buy convenience products after a long-term evaluation of competing products in the market. Consumers tend to buy convenience products because of the prestige associated with their ownership.

Consumers generally tend to purchase convenience products immediately and with minimal effort.

Which of the following is a basic requirement for effective market segmentation? The firm must avoid focusing on the consumer-dependent variable, such as discretionary income, while conducting market segmentation. The market segment must present measurable purchasing power and size. The company must expand beyond its marketing capabilities to capture those market segments that have reached the maturity stage in the product life cycle. The company must target a large number of small market segments so that they can develop effective strategies to appeal to them.

Correct!

Market segmentation plays a very important role in developing a marketing strategy. Select the best definition of market segmentation from the choices below. Dividing the total available market into smaller, similar groups Dividing the company profits for distribution among shareholders Dividing the marketing budget that will be used in world markets and in the United States Dividing the workload among marketing department employees Dividing the total market into two distinct groups, the global market and the U.S. market

Dividing the total available market into smaller, similar groups

Marketing raises a number of ethical questions about the how, when, what, where, and who of marketing implications on individuals and society at large. Ethics are of concern in every aspect of marketing. Your company offers cash rewards to consumers in return for them giving you information that you could use in your own marketing or that you could sell to direct marketers. Which category of ethics does this scenario represent? Ethics in product strategy Ethics in promotion Ethics in pricing Ethics in customer relationship management

Ethics in promotion

Which of the following is most likely to be a logical starting point in identifying the marketing problem? Ascertaining the budget and logistical limits that the problem warrants Determining the computational scope of the problem Evaluating the firm's target market and marketing mix elements Simulating a market research based on formulated hypotheses

Evaluating the firm's target market and marketing mix elements

A major state university has noticed a decline in students selecting philosophy as a major and is interested in learning more about this issue. They hire a marketing research student as an intern who conducts informal interviews with faculty in the philosophy department as well as freshman students living in residence halls to gain insight into this phenomenon. What type of research is the intern engaging in? Exploratory Descriptive Analysis Forecast

Exploratory

Mitch is a marketing consultant and works with an attorney to provide insight about how potential jurors view his cases. Mitch typically assembles a small group of 8-12 individuals from the county and presents relevant information about the legal case. He then guides them in a discussion to learn about their opinions. The group sessions are typically recorded and last about 2 hours. What type of research method best characterizes this research? Focus group Observation Telephone survey Personal interview

Focus group

Marketers are keenly aware that good marketing alone is not enough to win the hearts and minds of consumers anymore. Now, marketers must market in a socially responsible manner or risk alienating consumers in ways that can be irreparable. Which one of the following statements is true regarding social responsibility? Government legislation can mandate socially responsible actions Consumer activism cannot promote social responsibility There are five dimensions of social responsibility Consumers demand that marketers give more weight to profits than to social well-being. The traditional concept of social responsibility only extended to employees

Government legislation can mandate socially responsible actions

Which of the following usually indicates a strong economy? Growth in services such as banking and restaurants Cautious spending by businesses and consumers A focus on basic, functional products with lower price tags Increase in purchasing power coupled with uncertain consumer demand

Growth in services such as banking and restaurants

Philippe exhibited extended problem solving when he spent a large amount of time researching and comparing various criteria for a certain product or service. Which scenario in the choices below best describes the extended problem solving that Philippe used? He renewed the contract for his monthly pest control service. He opted to purchase a new flavor of ice cream instead of the flavor he normally buys. HS Sports Illustrated magazine subscription ran out and he paid for another year of it. Instead of his usual morning decaf coffee, he elects to try the flavor of the month at Dunkin' Donuts. He pored over college catalogs and visited various campuses before choosing the one his son would attend.

He pored over college catalogs and visited various campuses before choosing the one his son would attend.

Bubbles, a major player in the beverage industry, is currently negotiating the purchase of a purification plant and a bottling unit. This is an important investment for Bubbles and the products have been designed specifically for them. Which of the following types of products is being purchased by Bubbles? Accessory equipment Installations Component parts and materials Supplies

Installations

Which of the following statements is true regarding a monopoly? It is enjoyed by an organization that is the sole supplier of a good or service It is common in the telecommunications industry. It cannot be achieved temporarily, even through the use of patents and similar legal devices It is the most common type of competition in the U.S. market.

It is enjoyed by an organization that is the sole supplier of a good or service

Which of the following statements is true of tactical planning? It is conducted exclusively by the top management. It is used to generate long-term plans, departmental rules, and procedures. It is the basis for operational planning. It is performed as a substitute to the strategic planning process in large organizations.

It is the basis for operational planning.

Which of the following products is aimed at satisfying the esteem needs of people? Basic goods Cleaning products Auto safety features Luxury automobile

Luxury automobile

You work for a printing company and have been asked to conduct research on customer reading preferences. You want to answer the following questions: (1) Do readers prefer to read electronic books? (2) Do they prefer to read paper-based books? or (3) Do they not have a preference? You decide that to start off the process, you are going to peruse a series of secondary sources, including published articles, magazine articles, and documents you have purchased from a syndicated service. Based on what you know about collecting data, you know that there are several benefits of using secondary data. You are not as clear, however, about the disadvantages. Which of the following is a drawback of using secondary data? They are more expensive than using primary data Secondary data provide very rich, robust data One needs at least a few months to conduct secondary research. Many researchers use secondary data only when primary research is not an option. Secondary data may have been collected for unrelated purposes and may be irrelevant to your needs

Secondary data may have been collected for unrelated purposes and may be irrelevant to your needs

Christopher is a hair stylist who owns Curlz, the best salon in Los Angeles. The clients swear by Christopher, and brides and bridesmaids flock to him for all weddings in LA. Christopher's name has become synonymous with the service at Curlz. Which of the following characteristics of services best explains this association? Companies cannot easily standardize services. Service standards show wide variations Services are inseparable from the service providers. Services are perishable and intangible

Services are inseparable from the service providers.

Matthew was grocery shopping with his girlfriend Alexandra for the first time. Matthew is on a tight budget and typically buys private label products such as breakfast cereal, paper towels, and laundry detergent to save money. However, he was uncomfortable purchasing the private label brands when Alexandra was with him, so he ended up with Rice Krispies cereal, Bounty paper towels, and Tide detergent. Matthew's purchases in this case were mostly driven by what type of factor? Situational factors Reference factors Store factors Brand factors

Situational factors

Assume you want to increase the number of customers by applying the marketing concept. Which of the following strategies would be most consistent with this approach? Reduce product costs Offer more product variety than competitors Target markets Employ inexpensive labor

Target markets

Since the latter part of the 19th century, the U.S. government has played an activist role in the financial markets and the market for goods and services. The emphasis of their role has varied over this time as different issues and dynamics were at the forefront of business and economic trends. The first phase of the U.S. government's active regulatory role, in the early part of the 20th century, can be best described as which of the following? The cyberspace phase The consumer protection phase The protecting consumers phase The antimonopoly phase The industry deregulation phase

The antimonopoly phase

Celwyn works for a cosmetics company known for its anti-animal testing policies. Recently, however, a reputable newspaper reported that the company had tested their newest line of blush on rabbits. Which of the following statements is most likely true about the company? The company's customers will become even more loyal. The company's relevance will increase as a result of this news report. The company's esteem will decrease as a result of this news report. The company will become less differentiated from other cosmetics brands. The company's esteem will increase as a result of the coverage by a reputable newspaper.

The company's esteem will decrease as a result of this news report.

Hart's, a large discount store with locations across the United States would like to add pharmacies to their stores. Marketers at the company would like to research if consumers would be receptive to the pharmacies if Hart's were to add them. They begin their research by looking at the company's internal data. What problem might marketers from Hart's encounter with the internal data? Internal data is too expensive for marketers to access for research purposes The internal sales information is too dated for marketers to use. The internal data will be too limited in scope to provide a full picture of Hart's research questions. The internal data may be too time-consuming to collect and analyze

The internal data will be too limited in scope to provide a full picture of Hart's research questions.

A junior member of your marketing department has recommended demographic segmentation for your fast food brand. In a memo, he wrote: "We should be marketing to females who are white, low-income, unmarried, and have four or more children." You express at least one strong concern about this recommendation. What concern(s) do you express? Gender is not a demographic segmentation variable. Ethnicity is not a demographic segmentation variable. Marital status is not a demographic segmentation variable. The recommendation could lead to stereotyping and market alienation. The recommendation is clearly outdated.

The recommendation could lead to stereotyping and market alienation.

Which of the following is the earliest method used for gathering marketing information? Delphi technique Email surveys conducted by research professionals Telephone surveys conducted to assess household preferences Written testimonials received from purchasers of a firm's products

Written testimonials received from purchasers of a firm's products

Some Florida drivers have license plates that say Save the Manatee. This is an example of _____ marketing. organization cause place event

cause

Phoebe was asked to bring a can of food for the local food bank as the price of admission for a certain ceremony. This is an example of _____. person marketing organization marketing ownership utility cause marketing

cause marketing

Noel Pvt. Ltd. combines metal, rubber, and other components in the production of appliances. In doing so, the company creates _____ utility. ownership form place time

form

Kate believes the reason the sales of one of her company's products has fallen is due to a price increase. She cites sales from the previous year to the same customers as evidence of declining sales. Kate is: developing a research design formulating a hypothesis identifying a symptom conducting exploratory research

formulating a hypothesis

News reports from Zimbabwe indicate that a small pack of locally produced coffee beans costs approximately 1 billion Zimbabwean dollars, an amount that would have bought 60 new cars less than ten years ago in the same country. It can be surmised that Zimbabwe is experiencing extremely high levels of _____, which has spiraled out of control in the past ten years. growth stagflation deflation inflation

inflation

In times of prosperity, marketers respond to consumer buying behavior by: launching special value-priced products that are likely to appeal to cost-conscious buyers. holding down costs and offering superior services at lower prices lowering prices and increasing promotions that include special offers to stimulate demand. offering new products, increasing their promotional efforts, and expanding distribution

offering new products, increasing their promotional efforts, and expanding distribution

Banks have recently begun to install ATMs in supermarkets to address customers wants for instant cash when they go shopping. What type of utility are banks creating for customers? Form Possession Place Ownership

place

In a(n) _____, firms evaluate their products and divisions to determine the strongest and weakest. organizational appraisal market analysis utilization analysis portfolio analysis

portfolio analysis

The tagline used by Blue Jet cleaners, "Pay for Performance," is an example of a positioning strategy that is based on _____. product homogeneity product users price/quality competitors

price/quality

The Kirkland brand is owned by Costco, and the products can only be purchased at Costco stores. Costco contracts with manufacturers to produce and package products under the Kirkland name. Kirkland can be regarded as a(n): family brand individual brand generic brand private brand

private brand

It is crucial for marketers to focus their marketing strategies on opinion leaders in a group as opinion leaders: limit their purchases to the products and services typical of the social class they belong to, rather than imitating the reference group. represent the only medium to carry information about products to general public. represent the trendsetters who purchase products before others in the group and then influence the buying decisions of other group members possess the highest purchasing power in a group

represent the trendsetters who purchase products before others in the group and then influence the buying decisions of other group members

A company produces a high-quality product, with a maximum monthly output of 10,000 units. Production levels are constant, and the company relies on its marketing department to find customers for its output. This approach is consistent with which era in marketing history? Production era Relationship era Marketing era Sales era

sales era

enelope is using data collected and published by a trade association in her marketing research study. The data used by Penelope can be regarded as _____. secondary data primary data raw data experimental data

secondary data

A market in which there are more buyers for fewer goods and services is known as a: sellers market. monopoly. buyers market. oligopoly.

sellers market

When Tom decided to buy a washing machine, he had very little knowledge of competing products in the market. He did research on the Internet, talked to his friends, and compared features of different models. Finally, he decided to buy an LG top load, semi-automatic washing machine. This is an example of buying a(n) _____. shopping product staple convenience product specialty product

shopping product

A positioning map: is used primarily by companies utilizing undifferentiated marketing strategies. can be used only for already successful products in the market. shows how consumers view a product relative to competitive products. outlines how to introduce a new product to the marketplace.

shows how consumers view a product relative to competitive products.

Consumers who are part of the Millennial generation rely on social media and the influence of peers when making decisions about purchasing products and brands compared to Baby Boom generation consumers who might prefer to read reviews by sources such as Consumer Reports. This distinction is important to marketers and part of the ______ environment. technical economic social-cultural demographic

social-cultural

According to the BCG market share/market growth matrix, the revenues earned from cash cows should be used to finance the growth of: question marks and dogs. dogs and stars stars and question marks. question marks and cash cows.

stars and question marks.

ADA Inc. stopped its production of oral care goods after determining apparel production to be its new primary objective. This is a direct result of the _____ planning process at ADA Inc. tactical research strategic economic

strategic

As chief executive of Stalwart Shipfitting Company, a diversified producer of marine supplies and equipment, John needs a method for spotting promising product lines that warrant commitment of additional resources, as well as those that should be removed from the firm's product portfolio. A good choice for this firm at this stage would be to use: computer models. strategic business units. a marketing audit. an industry analysis.

strategic business units.

A certain social networking corporation has the highest number of users in the social networking industry. This is an example of the firm's: opportunity. constraint. strength. threat.

strength.

A SWOT analysis is designed to reveal, among other things, a firm's core competencies, which reflect its: threats. strengths. opportunities. vulnerabilities.

strengths.

An event management company decided to use radio advertising in order to promote an upcoming music festival. The executives of the company suggested various activities that could be used for the radio campaign. These activities are a part of the company's _____. tactical planning efforts standard operating procedures weekly scheduling plans unit-wise budgeting plans

tactical planning efforts

Widespread adoption of wireless networks and in-home Internet use has led to an increased availability of "smart" products for the home such as thermostats, lighting, security, systems and smoke detectors. Which environmental factor is most related to the new smart home products? technological social-cultural economic political-legal

technological

A product is said to have achieved brand preference when: the product becomes familiar to the consumer. the marketers start selling the product at a discount. the consumer sees or recognizes the product and chooses it over its competitors the product has attained monopoly position with its customers

the consumer sees or recognizes the product and chooses it over its competitors

The determination of whether pencils are consumer products or business products is based on: the purpose for which the pencils are purchased. the number of pencils purchased the place where the pencils are purchased the total price paid for the pencils

the purpose for which the pencils are purchased.