exam1122334455
Which of the following statements is true of the innovation matrix?
As a company moves away from its core capabilities, it moves through a range of innovation.
Which activity do flourishing companies consider as the launching point for building relationships with customers?
Attracting new customers
Within the context of the marketing plan, implementation involves:
allocating resources.
The underlying elements of a society that distinguishes it from other cultural groups are:
values, language, myths, customs, rituals, and laws.
Which of the following correctly defines the role of an export broker?
An export broker is an intermediary who plays the traditional broker's role by bringing buyer and seller together.
Unlike Hispanic Americans, most:
Asian Americans are born outside the United States.
Which of the following statements is true about the trends prevalent among the various ethnicities in U.S. ethnic markets?
Asian Americans retain strong core values even if they embrace American values.
Which of the following statements is true of the incomes of Baby Boomers in the United States?
Baby Boomers' current incomes are relatively low because many have retired.
Identify which statement is true regarding African Americans.
Because of their rich heritage, African Americans believe in strong cultural connections.
Which of the following ethical theories first identifies an ethical dilemma and then draws a comparison with other similar dilemmas and prior experiences to reach the best possible solution?
Casuist ethical theory
Synergy Corp., a large seller of energy-efficient light bulbs, uses extensive promotional strategies to stimulate sales. Marketers at Synergy Corp. have noticed that a competitor is steadily gaining market share, and they want to counter the competition immediately by increasing the sales of Synergy Corp.'s bulbs. Given the situation, which of the following is the quickest step that Synergy's marketers can take to stimulate the sales of its products?
Changing the pricing strategy
Which of the following statements is a feature of the Foreign Corrupt Practices Act (FCPA)?
It prohibits U.S. corporations from making illegal payments to foreign governments.
Which of the following statements is a characteristic of countertrade?
It refers to a form of trade in which all or part of the payment for goods or services is in the form of other goods or services.
Which of the following statements is a characteristic of dumping?
It refers to the sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter
Drafi Arts Corp. makes and sells original handicraft products. The management of the company has been successfully using a niche strategy for years. In this case, which of the following is the most likely to be true of Drafi Arts Corp.?
It serves only a limited geographic market.
Which of the following statements is true of a company that is in the second stage of developing a global business?
It sets up foreign subsidiaries to handle sales in one country.
Magnira Inc. plans to implement a market penetration strategy to increase its market share. According to Ansoff's strategic opportunity matrix, which of the following scenarios is most likely to happen?
It will try to increase its market share among existing customers.
Which of the following statements is true of Generation Y?
Its members have been raised from childhood to adulthood in the digital world
Which statement expresses the American Marketing Association (AMA)'s core definition of marketing?
Marketing is an organization function and a set of processes implemented in order to ensure customer satisfaction
Which information source is associated with advertising or promotion?
Marketing-controlled
By sending post purchase letters and giving guarantees on products to consumers who have bought their company's products or organization's services, marketing managers can help reduce the consumers' _____.
cognitive dissonance
According to Ansoff's strategic opportunity matrix, unlike market development, product development:
involves creating new products for present markets.
Often small ventures are skeptical about entering the global market because it:
involves various trade laws or tariffs
A market-oriented firm has a competitive advantage over its sales-oriented counterpart because ______.
it defines its business in terms of benefits its customers seek
A firm could benefit from a production orientation when _____.
it produces exactly what the market wants
A production-orientated company can survive in a competitive market if ______.
its goods and services meet the needs of the marketplace
The process of delivering relevant experiences that are integrated across both physical and virtual environments, throughout the consumer's decision and buying process, is known as ______.
on-demand marketing
In the context of a marketing mix, the product includes:
the name of the brand.
Which of the following is true of the FTC's Bureau of Consumer Protection?
All of these are correct.
Which of the following is/are the benefits of outsourcing?
All of these are correct.
The research and development team of BB Beverages has discovered that, during the testing process, one of their highly profitable new beverages contains ingredients that may cause liver damage in humans if consumed regularly over time. Additionally, the team also acknowledged that the plant that manufactures this beverage draws healthy groundwater which could cause a water shortage in areas surrounding the plant. Based on these findings, management has halted its production of this beverage until a solution can be found that does not adversely affect its consumers and the environment. Given this decision, it is evident that BB Beverages embraces a ______ orientation.
. societal marketing
Jason was born in 1970. He spent most of his childhood without much adult guidance as both his parents were working professionals. In this case, which of the following is most likely to be true of Jason?
. He is independent, resilient, adaptable, cautious, and skeptical.
Varion Air, an airline company, is providing a promotional offer to mark its first anniversary. Customers will receive a complimentary ticket upon purchase of three business class tickets. In this case, which of the following is a likely outcome of its promotional strategy?
. It may increase the sales of Varion Air.
Jane is a 16-year-old sophomore. She stays abreast of the latest technology and educates her parents about the latest trends in technology. She convinced them to replace her old cell phone with a new one. Given this information, Jane is a _____.
. teen
After being influenced by frequent advertisements, Jeremy buys a new cell phone. However, he discovers that the new cell phone does not offer the features he expected. This scenario illustrates that _____ of the purchase is less than Jeremy's expectations.
. the actual value
Which of the following is NOT true about culture from the perspective of a global marketer?
A company that does not understand a country's culture may try other means to succeed in the country.
Which of the following is a difference between a joint venture and contract manufacturing?
A joint venture is formed when a domestic firm buys part of a foreign company to create a new entity, while firms choose contract manufacturing to avoid being involved in licensing.
Which marketing philosophy could most help a company outperform its competitors in today's marketplace?
A market orientation
Which term describes the type of group in which family, friends, or a professional organization influences an individual's purchasing behavior?
A reference group
In the context of SWOT analysis, which of the following can be considered a strength of an organization?
A superior production technology
ABC Apparel follows a market-oriented approach, whereas XYZ Apparel believes in a sales-oriented approach. Considering their approaches, it is evident that ______ has/have a competitive edge in today's market.
ABC Apparel
Which of the following countries has the highest gross domestic product?
Acquardica, whose market value of final goods is $170 billion and market value of final services is $90 billion for a year
According to which of the following ethical theories does a person choose to act in a way that benefits the most people, regardless of law or personal feelings?
Act utilitarianism
In the context of the innovation matrix, which of the following decisions is designed to take company strengths into new markets?
Adjacent innovations
Which of the following comprise(s) the competitive environment of a firm?
All of the these
In which way are deontological theory and moral relativism similar?
Both theories may lead to actions that are not ethically correct.
Which of the following is a tool that governments use to exclude companies from countries with which they have a political dispute?
Boycott
Claudia is looking to purchase a good phone. After evaluating her options, she has decided to buy an iPhone X, though other brands that have all her required features are offering good value for less money. Prior to buying an iPhone X, Julie may experience some conflict because she is worried that the phone's top-of-the-line technology, which costs much more than its competitors, will be obsolete in a couple of months. What is the marketing term used to describe this feeling?
Cognitive dissonance
Which of the following statements is true of a niche strategy?
Companies that adopt a niche strategy target a single market segment.
Which statement is true of the factors determining the level of consumer involvement?
Consumers become less involved in the purchase of a familiar product.
Which of the following statements is true of post purchase behavior?
Consumers expect certain outcomes from a product after making a purchase.
Which is true of how reference groups influence consumer behavior?
Consumers generally use the same criteria as their reference groups to make their own consumer decisions.
Which of the following refers to private label manufacturing by a foreign company?
Contract manufacturing
A marketing decision maker who is concerned only with whether a proposed action is legal and how it will be viewed by others is demonstrating which level of ethical development?
Conventional morality
Which of the following represents a business's concern for society's welfare?
Corporate social responsibility
_____ is the set of values, norms, attitudes, and other meaningful symbols that shape human behavior and the artifacts, or products, of that behavior as they are transmitted from one generation to the next.
Culture
Which of the following people is MOST likely to disapprove of unethical practices more strongly than the others?
David, who has noticed for the first time that a colleague misrepresented data in a report
Which of the following statements is true of rule utilitarianism?
Decisions must benefit the maximum number of people through the fairest and most universally just means available.
Freulia Inc. manufactures and sells stationery and office supplies. It is beginning to lose its competitive advantage with the entry of new competitors. In this case, to gain a sustainable competitive advantage, what should Freulia do?
Develop the skills and assets of the organization
Which way of entering the global marketplace subjects a company to the highest risk, but offers the highest return?
Direct investment
Which of the following states the function of a distribution strategy in a marketing mix?
Distribution strategy is about transporting raw materials or finished products
Which term refers to the optimum utilization of assets so that a firm continues making profit in the long run?
Economic sustainability
According to the pyramid of corporate social responsibility, which component includes the behavioral aspect of corporate social responsibility, that is being meticulous and trustworthy.
Ethical responsibilities
Which of the following is true about the European Union (EU)?
European Union (EU) is one of the world's most important free trade zones. It has member countries such as Austria, Belgium, Bulgaria, the Czech Republic, Denmark, France, and so on, and it guarantees the freedom of movement of people, goods, services, and capital between member states.
Which of the following is NOT correct regarding the practice of inshoring?
Expanding development and manufacturing timelines have contributed to inshoring.
Which of the following terms states that costs decline at a predictable rate as experience with a product increases?
Experience curve
Which of the following refers to a system in which prices of different currencies move up and down based on the demand for and the supply of each currency?
Floating exchange rates
Remvault Dairies witnessed a steady decline in the sales of its products due to increased competition in the local market. Remvault Dairies plans to adopt the market development strategy. In this scenario, which of the following is the best step the company can take to rejuvenate its financial losses?
Focus on promoting new uses for old products.
Which of the following activities is not true of the marketing concept?
Focusing on internal capabilities rather than on customer wants and needs
Which of the following laws prohibits bribery of foreign officials to obtain business?
Foreign Corrupt Practices Act of 1977
Saving money is a major priority for _________, who are generally economical and look for value when making purchases.
Gen Xers
The population group born between 1965 and 1978, who value education and knowledge, and who tend to do significant research before making a major purchase is known as:
Gen Xers.
Which term refers to the production of uniform products that can be sold the same way all over the world?
Global marketing standardization
Which term refers to understanding international marketing opportunities, using effective global marketing strategies, and knowing the threats from foreign competitors in all markets?
Global vision
Which of the following refers to the development and marketing of environment-friendly products designed to minimize negative effects on the physical environment?
Green marketing
Jordon is a sales manager. He operates at the postconventional level of morality while making ethical decisions. In this case, which of the following statements is true?
He will be concerned about how he sees and judges himself over the long run.
Which of the following is NOT a factor of external environment?
Human resources of the organization
Which statement about the pyramid of corporate social responsibility is true?
If a company does not make a profit, then the other 3 responsibilities - legal, ethical and philanthropic are moot.
Which of the following is true about the different stages of business development of a multinational corporation?
In the third stage, multinationals operate an entire line of business in another country.
Which of the following indicates a benefit of outsourcing?
Increased corporate growth
Which of the following statements is true of a sales-oriented firm?
Intermediaries are encouraged to aggressively push manufacturers' products
Which of the following statements is true about a marketing plan?
It defines the business mission and objectives
Which of the following statements is true of culture?
It encompasses all the things that consumers do without conscious choice.
Which of the following statements is true of globalization?
It expands economic freedom and increases the living standards of people.
Which of the following is true of outsourcing?
It faces production delays due to faulty parts.
Which of the following statements is true of nonmarketing-controlled information sources?
It includes Internet forums and other forms of public sources of information.
Which of the following statements is true of on-demand marketing?
It is aimed at enhancing customer relationships.
Which of the following statements is true of a code of ethics?
It is an effective internal control of behavior.
Which of the following is NOT a characteristic of marketing audit?
It is an infrequent process.
When making an ethical decision, if there is strong consensus among coworkers that an action may bring harm to others, which of the following is most likely to occur?
It is more likely that marketers will recognize that behavior as unethical.
Fresnas Corp., a company that designs in its New York headquarters and had manufactured apparel in Malaysia, now practices inshoring. Given this information, which of the following is most likely to be true of Fresnas Corp.?
It keeps its research team in close proximity to its domestic manufacturers.
Which of the following is a psychological factor that impacts consumer buying decisions?
Lifestyle
Which one of the following is a hallmark of relationship marketing?
Long-term focus on customer needs
Which of the following generally does NOT result in a cost competitive advantage?
Maintaining older service delivery methods
Which of the following statements is true of effective strategic planning?
Managers should challenge assumptions about the firm and the environment
Martha visits a department store and discovers that a box of exotic candles will cost 10 percent more than what she had paid six months ago. Similar increases in prices across most goods and services is happening throughout the country. In this scenario, which statement is true?
Martha's purchasing power would remain unchanged if she has a pay raise to match the inflation.
_____ is the largest Latin American trade agreement, and it includes Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, and Venezuela
Mercosur
People born between 1979 and 1994 and who comprise the largest group in America's workforce are known as
Millennials
Maria is a very soft spoken girl and she hardly hurts anybody. She does not raise her voice when she speaks and is very careful about the way she speaks and the words she chooses. She gets married and finds that her husband is highly abusive. However she controls her anger for a considerable amount of time without retaliating. One fine day, she loses patience and abuses her husband and slaps him in public. What Maria exhibited conforms to the ethical theory of
Moral relativism
Mark comes from a very poor family yet he works hard and scores high in his school exams. However he fails to get a job since the school he studied in did not equip him with the adequate knowledge to find a job. Mark thus starves since he does not earn for his livelihood. Finally he gets depressed and steals food from some people who buy delicious food from a local restaurant. What ethical theory has Mark displayed in this case.
Moral relativism
Which ethical theory does not believe in absolute rules and states that during an ethical dilemma, a person makes the most appropriate decision by considering all the alternatives and choosing the lesser among evils as the resolution?
Moral relativism
Which statement is true about tweens?
Most tweens own a mobile phone and almost half of them have smartphones.
Which of the following statements is not correct about multinational companies
Multinational companies have low income levels.
Which stage in the consumer decision-making process results from the imbalance between actual and desired states?
Need recognition
Nessca Motors, a well-known company based in Nebolina, manufactures engines. Its management recently signed a joint venture with Singletone Inc., a small company based in Trinitia. Of the following scenarios, which would be the most likely to happen?
Nessca Motors will buy a part of Singletone Inc.
Which of the following strategies seeks to target and effectively serve a single segment of the market?
Niche competitive advantage
According to the pyramid of corporate social responsibility, which component involves being a good corporate citizen, contributing resources to the community and improving the quality of life?
Philanthropic responsibilities
Which of the following is one of the four major components of the pyramid of corporate social responsibility?
Philanthropy
Hallie has a tendency to be egocentric. She follows the rules of her company mainly to avoid punishment and to gain respect. When making decisions, she always focuses on the immediate benefits she will gain from an alternative. Which of the following levels of ethical development does Hallie's behavior illustrate?
Preconventional morality
Which of the following is an element of a marketing mix?
Pricing strategies
Which of the following is a difference between product invention and product adaptation?
Product invention involves drastically changing an existing product, while product adaptation involves slightly altering a basic product.
Which of the following strategies in the marketing mix aims at bringing about mutually satisfying exchanges with target markets by informing, educating, persuading, and reminding them of the benefits of an organization or a product?
Promotion strategies
_____ occurs when consumers feel that making the wrong decision might cause some concern or anxiety.
Psychological risks
____ is an example of routine response behavior
Purchasing groceries
Which model suggests that corporate social responsibility is composed of economic, legal, ethical, and philanthropic responsibilities that are built upon a firm's economic performance?
Pyramid of corporate social responsibility
Which of the following firms is most likely to follow a niche strategy?
Relish, a confectionery store, sells handcrafted chocolates in only one city.
All of the following are advantages of defining a firm's mission in terms of benefits that customers seek except for which one?
Satisfying customer wants and needs may not always be in the best interests of society as a whole
_____ occurs when consumers change information that conflicts with their feelings or beliefs.
Selective distortion
Though there was a controversy regarding Kentucky Fried Chicken (KFC) and the news media splashed the story, people were quick to forget about the negative press and continued patronizing KFC and its food. Which type of stimuli/perception does this consumer behavior demonstrate?
Selective retention
If the director of a company aspires to become its managing director, works hard toward that goal, and achieves the position. Which of his needs is fulfilled according to Maslow's hierarchy of needs?
Self-actualization need
____ is how consumers see themselves in terms of attitudes, perceptions, beliefs, and self-evaluations.
Self-concept
Laura went to Walmart to check the quality, sizing, and price of some branded clothes. But she found the same items at a cheaper price online and bought them online instead of getting them at Walmart. What is this practice called?
Showrooming
Which term refers to a type of social responsibility concerned with developing processes and structures that not only meet the needs of a current community, but benefit future generations as well?
Social sustainability
Whenever a particular fashion house brings out a new product line, it publicly launches the products in a grand social event, invites society's who's who, and lavishly displays its new products. What term best describes this type of consumer involvement?
Social visibility
Which statement is true of natural resources in terms of global trade or a country's economy?
Steep declines in the price of oil had a negative impact on America's oil producers
__________is a learned ability to differentiate among similar products such as different brands of blue jeans.
Stimulus discrimination
In the context of a marketing mix, which business activity is most closely related to a company's distribution strategies?
Storage of raw materials
Which of the following refers to the idea that socially responsible companies will outperform their peers by focusing on the world's social problems and viewing them as opportunities to build profits and help the world at the same time?
Sustainability
Which of the following is accurate with regard to Asian Americans?
The Asian American population growth has been fueled primarily by immigration
Which federal agency reviews mergers and acquisitions, and challenges those that would likely lead to higher prices, fewer choices, or less innovation?
The Bureau of Competition
Alex purchased a battery-operated drill. Due to a manufacturing defect, the drill overheated and exploded when he used it for the first time. Alex lodged a complaint against the firm that manufactured the drill with the Consumer Product Safety Commission (CPSC). Given the situation, which of the following is most likely to happen?
The CPSC can fine the offending firm up to $500,000.
Which of the following federal agencies has the power to set mandatory safety standards for almost all products that consumers use example cribs, electronics and video games, school supplies, science kits, toys, and pacifiers?
The Consumer Product Safety Commission (CPSC)
Which federal agency is charged with enforcing regulations against selling and distributing adulterated, misbranded, or harmful food or drug products
The Food and Drug Administration (FDA)
_____ was founded in 1945, one year after the creation of the World Bank, to promote trade through financial cooperation and eliminate trade barriers in the process.
The International Monetary Fund (IMF)
Which of the following statements is true of the deontological theory and the utilitarian ethical theory?
The deontological theory states that people should adhere to their duties when analyzing an ethical dilemma, while the utilitarian ethical theory is founded on the ability to predict the consequences of an action.
Which of the following correctly defines balance of payments?
The difference between a country's total payments to other countries and its total receipts from other countries
Which statement is true of global marketing standardization?
The markets throughout the world are becoming more alike.
Which of the following accurately reflects current population trends in the United States?
The populations in the rural regions of the United States are aging.
Which of the following statements is true of incomes in the United States?
The real median household income has fallen since 2009.
Which statement aptly describes the characteristics of the middle class in the United States?
They are people who are middle-level white-collar; have education past high school; and with an income somewhat above national average.
In the context of marketing, which of the following statements is true of nonprofit organizations?
They exist to achieve goals other than business-related goals.
Which of the following about African Americans is true?
They generally expect brands to support social causes.
n a direct foreign investment arrangement, which statement is true of the direct investors?
They have the highest potential reward
Which of the following statements is true of American teenagers?
They prefer face-to-face communication to communicating electronically.
Which responsibility among the 4 components of the pyramid of corporate social responsibility acts as the foundation for the other three responsibilities.
To make profits.
Foreign Corrupt Practices Act (FCPA) was enacted because congress was concerned about
U.S. corporations' use of illegal payments and bribes in international business dealings.
Which of the following statements is true of a target market?
Uncontrollable elements continually evolve and create changes in a target market.
Which of the following practices can help businesses gain a cost competitive advantage?
Using simplified production techniques
The price component of a marketing mix is:
a competitive weapon for companies.
Using the innovation matrix, the strategic decision to implement changes that use existing assets to provide added convenience to existing customers and potentially entice customers from other brands is considered:
a core innovation
A statement of what is to be accomplished through marketing activities is called __________.
a marketing objective
A company is most likely to fail to achieve a marketing objective if there are changes in the environment ______.
after the objective is specified and the strategy is implemented
A sales-oriented company is one that focuses on _______.
aggressive sales techniques
Bethany is hungry and wants to go to a good restaurant to eat and relax. She chooses Morton's The Steakhouse for its ambiance and good food. Her experience provides_____.
both hedonic and utilitarian value
if an organization has an SBU that it believes has the potential to be a star, the best allocation of future resources would be to _________ that SBU.
build
Unlike hedonic value, utilitarian value:
can be viewed as a means to an end.
A business that requires a greater expenditure for equipment than for labor is called:
capital intensive.
In the portfolio matrix, a business unit that generates more cash than it needs to maintain its market share is called a:
cash cow
A socially responsible marketing effort by a for-profit firm and a nonprofit organization that targets social or other charitable causes is referred to as __________.
cause-related marketing
Marina buys a new pair of shoes from Repop, an online store. She logs in to Repop's website and finds that her homepage has been customized to display the status of her latest purchase. In this scenario, Repop is using _____ to exert influence over the decision making journey.
contextual interaction
When following up on a marketing plan, the _____ process provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines.
control
In the context of the innovation matrix, decisions taken at the _____ level implement changes that use existing assets to provide added convenience to existing customers and potentially entice customers from other brands.
core innovation
The AB group of hotels is keen on building relationships with customers. To ensure success in this effort, the attitudes and actions of its employees need to be ________ oriented.
customer
The company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups is called ______.
customer relationship management
The relationship between benefits and the sacrifice necessary to obtain those benefits is known as ________________________.
customer value
Fresnas Cuisine, a restaurant chain, recently introduced fast food on its menu because management recognized that their customers are predominantly young people. This scenario illustrates how _____ influence marketing decisions.
demographic factors
Active ownership of a foreign company or of overseas manufacturing or marketing facilities is called _
direct foreign investment
A marketing mix typically involves
distribution strategies
A company is doomed to failure in a foreign country if it _____
does not understand the foreign country's culture
In the portfolio matrix, a business unit that has low growth potential and a small market share is called a:
dog
Employees are more likely to take prudent risks to build stronger business and sustain the company's success in addition to taking responsibility for their actions when they are ______.
empowered to immediately resolve customer problems
A firm that has adopted a societal marketing orientation focuses on ______.
enhancing individuals' and society's long-term best interests
Developing long-term sources of clean water to improve health and preserve local ecosystems while creating a competitive advantage is an example of:
environmental sustainability
A group of brands that results from an information search that a buyer can choose among is referred to as the buyer's ________________
evoked set
The manufacturer of Herbal Essences Shampoo gives away trial packs of conditioner to test the market for its new product. This may refer as:
experiential learning
A(n) _____ is an intermediary who brings a buyer and a seller together.
export broker
The ___________________ is an orderly series of stages in which consumers' attitudes and behavioral tendencies evolve through maturity, experience, and changing income and status.
family life cycle
Currency markets operate under a system of _____, which is a system in which the prices of different currencies move up or down based on the demand for and the supply of each currency.
floating exchange rates
To increase the sales of low-involvement products, marketing managers can:
focus on the package design of the products.
Rochelle wants to purchase a new gaming laptop. She wants to compare two of the latest models of gaming laptops—with similar build, quality, and hardware specifications—from different manufacturers. Rochelle reads reviews of each product on reputable online forums before making her decision. In this scenario, Rochelle seeks data ________________.
from a nonmarketing-controlled information source
In the case of SBUs that are cash cows, problem children, or dogs, the basic goal of _______________ is to increase short-term cash return without increased concern for long-run impact.
harvesting
The basic goal of ________ is to increase the short-term cash return without too much concern for the long-run impact.
harvesting
When properly created, a strategic business unit (SBU) of a large company:
has a specific target market.
Fourlotts Inc. is a renowned technological firm. It manages many strategic business units (SBUs) in which each SBU
has its own return on investment
Fourlotts Inc. is a renowned technological firm. It manages many strategic business units (SBUs) in which each SBU:
has its own return on investment.
At the preconventional level of ethical development of a person's moral character, the individual tends to:
have an egocentric orientation.
Unlike the youngest Gen Yers, many of the oldest members of Generation Y:
have become parents.
Companies at the fourth stage of developing their global business:
have their top executives and core corporate functions located in different countries.
Quinn is the sales manager of a firm with a questionable reputation. During his tenure, he has witnessed numerous incidents of ethical misconduct. Research shows that he would observe less ethical misconduct if ________________________.
his coworkers had a strong ethical culture among themselves
Melina considers herself a fashionista and would like to be perceived as more fashion oriented than her friends and family. However, her family and friends feel she dresses just like them. In this case, the perception of Melina's friends and family contradicts Melina's _____.
ideal self-image
Unlike external stimuli, internal stimuli
include stimuli such as hunger and thirst
According to Ansoff's strategic opportunity matrix, a firm using the market penetration alternative would try to:
increase market share among existing customers
Dumping may result from all of the following exporter business strategies EXCEPT:
increasing unit costs by exploiting large-scale production.
GE has been in the news lately for _____, or bringing back the production of GE appliances to its Louisville, Kentucky plant from China.
inshoring
PQR Corporation is a sales-oriented firm that focuses on high sales. It does not take into account the customer's wants and needs, and instead concentrates on manufacturing products that will reap high profits. This attitude might lead to the firm's missing business opportunities because ______.
its narrow focus on manufacturing specific products does not meet customer needs and wants for a wider range of products
Business firms can stimulate innovation by:
letting employees know that they have the freedom to fail.
The legal process whereby a company allows another firm to use its manufacturing process, trademarks, patents, trade secrets, or other proprietary knowledge is ______________.
licensing
Companies that place customers at the center of their business are those that follow a ______ orientation.
market
A firm that acknowledges the importance of all four marketing mix decisions (product decisions, place or distribution decisions, promotion decisions, and pricing decisions) is a ______ firm.
market-oriented
The management of GH Apparel has thoroughly analyzed the market and recognizes the wants and needs of different customer groups. It takes all these findings into consideration and develops different types of goods that cater to each group. From this scenario, it is evident that GH Apparel is a ______ organization.
market-oriented
A __________ strategy occurs when multinational firms enable individual subsidiaries to compete independently in domestic markets.
multidomestic
Equality, a core American value that strongly influences the attitudes and lifestyles of people, means that:
no one should expect to be treated differently from anybody else.
Becky wants to buy a new cell phone. She asks her friends who are technologically savvy to recommend a good, lightweight phone that is easy to use. In this scenario, Becky is obtaining information using a(n) _____.
non marketing-controlled information source
Ramelson Inc., a sporting goods footwear and apparel company, features photographs of celebrities wearing its brand of clothing and sports gear. The company launched a commercial for its new line of football cleats. This commercial featured famous football stars as it believes that celebrities can influence customers' buying decisions. In this case, the football stars served as _____.
opinion leaders
Melrow Inc., a U.S. firm, suffers heavy losses and lays off many of its employees. To reduce its manufacturing costs, it shifts its production units to another country where labor costs are less. In this scenario, Melrow Inc. is engaged in _____.
outsourcing
All of the following are types of reference groups EXCEPT:
personal
Careers often create a _____ for single parents
poverty of time
When an SBU has become a _____________, it is essential to either invest in it heavily to gain better market share, acquire competitors to get the necessary market share, reposition its products, or drop it.
problem child
Khokho's Coffee House was the first company to introduce flavored coffee in the global market. It blends coffee in several different flavors, such as blueberry, cinnamon, and cranberry, based on the flavors each country prefers. In this scenario, Khokho's Coffee House is involved in _____.
product invention
MaxNutri Inc. sells cookies and nutrition bars. The marketers at MaxNutri are trying to come up with new and attractive packaging designs for its cookies. In this scenario, MaxNutri is working on its _____.
product strategy
Firm XYZ is known for adopting a strategy that focuses on designing new products based on their assessment of the capabilities of their engineers and on the easy availability of resources. The firm's approach, which emphasizes the ease of production and the talents of its resources rather than the needs and wants of the marketplace, can be attributed to its ______ orientation.
production
When a firm focuses on its internal capabilities rather than on the desires and needs of the marketplace, then the firm is said to have adopted the ______ orientation
production
The social factors that affect the consumer decision journey are:
reference groups, opinion leaders, and family.
Critics of Ansoff's matrix mention that the matrix does not:
reflect the reality of how businesses grow
The Federal Trade Commission's Bureau of Competition _____.
seeks out and challenges anti-competitive conduct in the marketplace
The term that describes a consumer's view of himself or herself in terms of attitudes, perceptions, beliefs, and self-evaluations is known as ____________________.
self-concept
According to sales-oriented firms, marketing means ______.
selling goods and services and reaping profits from them
Linda usually does not spend much time selecting gifts. However, when choosing a fountain pen for her husband's birthday this year, she visited several stores and spent a lot of time asking the sales staff about different features of the pen before making her purchase. This scenario illustrates _____.
situational involvement
Joshua is a millionaire, and he manages several successful companies. He usually interacts with people of similar status. Given this information, Joshua and the people he interacts with are part of a _____.
social class
A person whose behavior illustrates the deontological theory of ethics would ___________________.
stick to his or her obligations when stuck in an ethical dilemma because doing one's duty is what is considered ethically correct
A _____ is any unit of input affecting one or more of the five senses: sight, smell, taste, touch, and hearing
stimulus
Rolex is a prestigious brand of watch that is sold as a luxury product. It has a reputation based on quality and attention to detail. When the company introduces new timepieces, it can count on an existing, well-established market for its new products due to:
stimulus generalization
Unlike people who belong to Generation X, Baby Boomers
tend to be influenced more by traditional advertising and word-of-mouth recommendations.
A federal agency which aims at preventing persons or corporations from using unfair methods of competition in commerce is:
the Federal Trade Commission (FTC).
The Uruguay Round replaced the General Agreement on Tariffs and Trade (GATT) with _____.
the World Trade Organization (WTO)
One component of product in a marketing mix is ________.
the company image
Jorge prefers to do his grocery shopping at Fresnas Mart because his mother also prefers to shop there. He also does not shop for groceries online because his mother does not. In this case, Jorge's shopping behavior is a result of _____.
the socialization process
The imbalance between actual and desired states is sometimes referred to as:
the want-got gap.
The population group that falls between ages 9 to 12 and presents great opportunity to American marketers with a huge spending power is known as:
tweens
Sam uses public transport to commute to work. However, he has always wanted to own a car and believes commuting by car will save time. This scenario exemplifies Sam's _____.
want