AGEC 327 Exam #1 Review-Quizzes Ch.1-5

A company sent a trained observer to watch and interact with consumers in their natural environments in order to gain deeper insights on consumer needs. This is an example of ________. A. Ethnographic research B. Viral marketing C. Niche marketing D. Survey research E. Experimental research

A

Maria Ramirez is conducting research to determine consumers' personal grooming habits. Because of the personal nature of many of the survey questions, Maria wants to select the contact method that is most likely to encourage respondents to answer honestly and that will allow her to easily collect large amounts of data. Which of the following is best suited to meet Maria's requirements? A. Mail questionnaires B. Focus group interviews C. Individual interviews D. Immersion group discussions E. Telephone interviews

A

Orion Inc. operates in many industries, including pharmaceuticals and food products. The company's goal is to create "abundant and affordable food for all and a healthy environment." This represents Orion's ________. A. Mission statement B. Marketing plan C. Product mix D. Marketing mix E. Business portfolio

A

The marketing team of 7 Star Inc., a company manufacturing smartphones, is currently studying the size, density, location, age, and occupation of its target market. Which of the following environments is being studied in this scenario? A. Demographic environment B. Economic environment C. Cultural environment D. Political environment E. Technological environment

A

Which of the following refers to a probability sample in which the population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview? A. Cluster sample B. Simple random sample C. Quota sample D. Judgment sample E. Stratified random sample

A

Which of the following statements is true of cultural factors that influence consumer behavior? A. Social classes show distinct product and brand preferences in areas such as clothing and travel B.Hispanic Americans and African Americans are examples of racially-segregated groups and not subcultures C. Cultural influences on buying behavior are identical across countries D. Subcultures include nationalities and racial groups, but exclude religions E. Subcultures are groups within which each individual has a unique and distinct value system

A

__________ provide the resources needed by a company to produce its goods and services. A. Suppliers B. Marketing service agencies C. Retailers D. Financial intermediaries E. Resellers

A

Which of the following is not one of the "Four P's" that make up the set of tools a firm uses to implement its marketing strategy A. Place B. Product C. Price D. Promotion E. Profit

E

Market Share and Growth Categories

A question mark is a product in a high growth market with a low market share. A star is a product in a high growth market with a high market share. A cash cow is a product in a low growth market with a high market share. A dog is a product in a low growth market with a low market share

Cape Sky Inc., an international insurance and financial services company, is the primary sponsor of the annual New York City Marathon, which is attended by over one million fans and watched by approximately 300 million viewers worldwide. The Cape Sky logo and name are displayed throughout the race course. Cape Sky most likely sponsors this event in order to appeal to which of the following types of publics? A. Government publics B. General publics C. Financial publics D. Internal publics E. Citizen-action publics

B

Which of the following demographic trends is the most likely cause for a rapid increase in telecommuting? A. The migration from rural to metropolitan areas B. The migration toward micropolitan and suburban area C. The growing percentage of married couples who do not have children D. The increasing number of traditional households E. The declining number of manufacturing workers in today's workforce

B

According to Maslow's hierarchy of needs, which of the following is the LEAST pressing need? A. Esteem needs B. Social needs C. Self-actualization needs D. Physiological needs E. Safety needs

C

Dan has been directed to study the forces close to a company that affect its ability to serve its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. In this instance, Dan has been directed to study the ________ of the company. A. Technological environment B. Demographic environment C. Microenvironment D. Macroenvironment E. Political environment

C

Shoez Inc., a manufacturer of shoes, has recently launched a brand of sturdy shoes ideal for hiking and other outdoor activities. Which of the following brand personalities could be best associated with the new brand? A. Competence B. Excitement C. Ruggedness D. Sincerity E. Sophistication

C

The managers of Arrow, an American retail chain, are currently reviewing new demographic markets to sell the firm's current products. This is an example of ________. A. Market penetration B. Mass marketing C. Market development D. Product development E. Product adaptation

C

The objective of causal research is to ___________. A. Assign a cause to a seemingly random event B. Gather preliminary information that will help suggest hypotheses C. Test hypothesis about cause-and-effect relationships D. Describe things, such as the market potential for a product E. Predict the effect of a random event on unrelated entitites.

C

According to the five-step model of the marketing process, which of the following is the final step in creating value for customers? A. Constructing an integrated marketing program that delivers superior value B. Understanding the marketplace and customer needs C. Capturing value from customers to create profit and customer equity D. Building profitable relationships and creating customer delight E. Designing a customer-driven marketing strategy

D

A ___________ is some combination of products, services, information or experiences provided to customers to satisfy a need or want. A. Value proposition B. Market mix C. Market segment D. Market offering E. Brand positioning

D

Which of the following is not a step in the strategic planning process? A. Setting company objectives and goals B. Defining the company mission C. Planning marketing and other functional strategies D. Designing the business portfolio E. Evaluating members of the company's value chain

E

Cathy's Clothes is a small yet successful retail chain that sells women's clothing and accessories with a focus on buyers who have relatively modest means. For this specific purpose, the firm has rolled out several marketing initiatives aimed at women of a specific demographic. This is an example of ________. A. Ambush marketing B. Social marketing C. Cause marketing D. Target marketing E. Societal marketing

D

The latest trend in the United States involves rediscovering the benefits of home-cooked food and the use of organic ingredients. People are choosing to spend hours in the kitchen using only the freshest ingredients to cook healthy and nutritious meals. This change in ________ is one of the reasons for the increasing demand for organic ingredients. A. Self-concept B. Subculture C. Life-cycle D. Lifestyle E. Personality

D

The market researchers at HoneyCamp Foods gather daily sales data and sort it by product line and region. With the help of sophisticated tools and techniques, they develop the data needed by marketing managers to evaluate the market share of the company's different products and also to gain valuable market insights. This mix of people and procedures at HoneyCamp Foods that generate actionable marketing insights represents a(n) ________. A. Business portfolio B. Product mix C. Strategic planning system D. Marketing information system E. Enterprise planning system

D

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. According to the BCG matrix, the pharmaceuticals division of Omni can be classified as a ________. A. Bear B. Dog C. Star D. Question mark R. Cash cow

D

Which of the following is characteristic of online social networks? A. Use of one-way communication techniques B. Negligible adoption rates C. Guaranteed positive results D. Easy methods to measure results E. User-controlled content

E

Each department in a company can be thought of as a link in the company's internal value chain. True or False?

True

Many company and brand Web sites also serve as online brand communities, where customers can congregate and exchange brand-related interests and information. True or False?

True