Marketing 303 Exam 1 Prep

In what country was a law recently passed requiring grocery stores to donate food to charity that would otherwise be tossed?

France

Which generation's members are also known as Millennials?

Gen Y

Which of the following apps would help consumers fulfill their "need to accomplish"?

MyFitnessPal

For corporate leaders, their firm's ability to ________ must be of paramount importance.

balance shareholder interests with the needs of society

Which of the following is likely to provide a sustainable competitive advantage?

creating an efficient supply chain that lowers your costs

Walmart donates more than $1 billion in cash and in-kind items to charitable causes every year. This form of social responsibility most directly impacts

customers.

The definition of corporate social responsibility addresses

environmental impact.

During a SWOT analysis, a company should assess the opportunities and uncertainties of the marketplace due to changes in several factors, given the acronym CDSTEP. Which of the following is not one of these factors?

ethical

Firms that hire (or encourage) well-known names to promote brand messages to their networks of followers are using

influencer marketing.

Hunter Corporation's mission statement

is a broad description of a firm's objectives and the scope of activities it plans to undertake.

Twitter is considered a

microblog.

What is a bounce rate?

percentage of times a visitor leaves the site after viewing one page

Which element of the marketing mix deals with supply chain management?

place

If Martine decides to sell the best ice cream on earth, and intends to establish a strong ethical climate in her organization, during which phase of the strategic marketing planning process should she introduce ethical considerations?

planning

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged?

planning

When you register your telephone number with the National Do Not Call Registry, you are responding to a need for

privacy.

Henry Ford's statement, "Customers can have any color they want so long as it's black," typified the ________ era of marketing.

production-oriented

One of the UN Sustainable Development Goals is to

reduce hunger.

Binder & Sons is considering buying out a competing firm and closing most of the competitor's factories. The firm has identified the various stakeholders and their issues and gathered the available data. Everyone with an interest in the issue has engaged in brainstorming and evaluating alternatives. Management reviewed and refined the alternatives, and then chose a course of action. If the managers are not confident about the decision, they should

reexamine their alternatives.

Political candidates are notorious for appealing to the different beliefs and values of groups of potential voters in different areas of the country. These politicians are appealing to differences in

regional culture.

After conducting STP analysis for her health food store and developing strategies for each of the four Ps, Nicki now has to make _____________ decisions.

resource allocation

UPS, FedEx, and other shipping companies support other firms' ________ marketing goals.

supply chain management

Marketing channel management is also known as

supply chain management.

Which of the following is a critical ethical consideration for green marketers?

sustainability

The wine industry closely watches consumer satisfaction feedback. For years, French wineries consistently had the highest levels of customer satisfaction, creating a(n) ________ for these companies.

sustainable competitive advantage

Generally, to build a sustainable competitive advantage, companies should

use multiple approaches to solidify their position.

Not only does GIS technology help Starbucks determine the ideal locations for new stores, but it also can enable the company to decide

which kinds of stores to open.

The Wheel of Social Media Engagement includes the following five effects as drivers of social media: ________, Connected, Network, Dynamic, and Timeliness.

Information

How might a technology company like Apple ensure that it behaves in a socially responsible way toward its employees?

It can ensure that pay practices are fair at all levels of the company.

How might a technology company like Apple ensure that it behaves in a socially responsible way toward its customers?

It can protect the privacy of personal information collected on its website.

One measure of traffic from visitors on sites, the total requests for a page, is measured in units called

hits

The most loyal customers use

multiple channels.

If Katy Perry tweets a close-up of her eyelashes, lengthened by using a Cover Girl mascara product, then Cover Girl will have instantly reached all her millions of followers. What effect of social media engagement is this an example of?

network effect

If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, phone number, and e-mail in order to participate, the radio station is

offering an exchange.

Social media is of increasing importance. About ________ of the world's population uses Facebook.

30 percent

Which of the following actions would be the most likely to support and enhance an operational excellence macro strategy?

3M Corporation implementing new software to improve communication with its suppliers

Which of the following factors, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of a threat?

A New York law firm has filed a $10 million class action suit against the company on behalf of car owners whose gas tanks exploded.

Tander Inc. is in Step 4 of its ethical decision-making process. Executives were asked to take the Publicity Test using an ethical decision-making metric. All scores were in the "No" column. What does this mean?

The situation is ethically troubling to the executives.

What effect of social media engagement is achieved when individuals post a picture to Instagram, upload a video to YouTube, or share a link to an article they have liked on Facebook?

connected effect

Laurine is considering the question, "Did our actions have a negative impact on any stakeholder group?" She is addressing marketing ethical issues in the ________ phase of the strategic marketing planning process.

control

This type of blog typically provides the highest level of digital marketing control for companies.

corporate blog

Nau works with its ________ to develop socially responsible outdoor and urban apparel.

corporate partners

Cookie Cutter, a firm that manufactures high-end mixers, donates $10 per mixer sold to a local food bank. This is a form of

corporate social responsibility.

Marketers want their firms to develop excellent supply chain management and strong supplier relations so they can

create a sustainable competitive advantage.

A local hair salon keeps information on its customers regarding their preferences for certain products, companies, and services. The salon uses this information to inform the customers when new products arrive from their favorite companies and targets them with special promotions. In this way, the salon is using ________ to build loyalty among its customers.

customer relationship management

Many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. These special issues are an example of

customer relationship management.

Audi's mission statement addresses urbanization, the need to work on traffic flows and safety in urban areas. To that end, Audi is working with Airbus to develop the Pop.Up Next driving and flying transport system that will enable vertical individual mobility. The strategic planners are engaged in

defining the business mission.

Many corporations are shifting from defined benefit to defined contribution retirement programs. When considering changes to retirement programs, the primary stakeholders are the

employees.

The Bedford County School Board is concerned about deteriorating school facilities, combined with a shrinking budget. The board began by studying the issue, and then identified parents, children, teachers, staff, and taxpayers as groups who have a vested interest in the problem. The school board has listened to each group's concerns. In the ethical decision-making framework, its next action should be to

engage in brainstorming alternatives.

Matthew has been asked to approve a marketing campaign that, although it is not illegal, promotes food products to children. He is concerned that the food products are not particularly nutritious, although they are not as bad for children as some others sold by competitors. By using the ethical decision-making metric, Matthew will

evaluate the alternative using a series of questions.

Gerard has just purchased a beer distributorship. He wants to increase the visibility of his firm in local markets, but he knows there are a number of regulations and socially accepted practices associated with promoting alcoholic beverages. The first thing Gerard should do is to

identify issues that need to be addressed.

Anders picks up the local newspaper and reads a stinging letter to the editor criticizing his beverage company for supporting a sporting event for children with disabilities. The letter writer is critical of a banner displayed at the event with the logos of alcoholic beverages and Anders' company name. Anders never considered that this problem might arise. His company failed to

identify issues.

Mattie is the marketing manager for a spice company. While on vacation in Brazil, she visited food stores in Rio de Janeiro. Most of her company's products were available, except for baking spices, like vanilla. When she returned to work, she mentioned this observation to her international sales manager. Mattie was providing the important marketing function of

identifying opportunities to expand.

It was during the market-oriented era that firms first discovered "marketing." In what timeframe did this occur?

just after World War II

Vivek has developed a better type of medication vial for travelers. He is not sure how to develop a marketing program for his product, as there are a few similar ones on the market. What technique can Vivek use to analyze data from his competitor's websites, particularly to learn how people search for similar products online?

keyword analysis

Typical demographic data include all of the following except

language differences.

The political/regulatory environment comprises political parties, governmental organizations, and

legislation and laws.

After major hurricanes like Katrina, many ethical home repair and building supply businesses continue to charge pre-hurricane prices to their customers, even though they could charge much more due to the huge increase in demand. These firms probably recognize that

lifetime profitability of relationships matters more than profits from a particular transaction.

The three-stage process that firms use to engage customers through social, online, and mobile media involves

listening, analyzing, and doing.

By using social media ________ on their mobile phones, customers can check in with HappyCow to find nearby vegetarian restaurants.

location-based apps

The marketing goal of getting the "right quantities to the right locations, at the right time" relates to

managing the supply chain.

Many marketing students initially overlook the importance of marketing channel management because

many of these activities take place behind the scenes.

A ________ growth strategy employs the existing marketing offering to reach new market segments.

market development

Traditionally, marketing activities have been divided into product, price, place, and promotion. Select the term that best describes the four Ps.

marketing mix

A disadvantage for companies using a "daily budget" such as that offered by Facebook to its advertisers is that it

may limit exposure if ad is very successful.

The ________ for natural skin care company Burt's Bees is to "create natural, Earth-friendly personal care products formulated to help you maximize your well-being and that of the world around you."

mission statement

The final step in the process of creating a digital marketing campaign is to

monitor the program.

After defining the business mission, what should a firm do next to develop a marketing plan?

perform a situation analysis

Of the various types of blogs, which one do marketers have the lowest level of control over?

personal

The government has enacted laws that promote both fair trade and competition by prohibiting the formation of monopolies or alliances that would damage a competitive marketplace, fostering fair pricing practices for all suppliers and consumers. These actions are part of the ________ environment of business.

political/regulatory

A former advertising campaign for GEICO Insurance used the slogan "So easy, even a caveman could do it" to emphasize the ease of buying insurance on GEICO's website. This campaign was part of GEICO's

positioning strategy.

Starbucks carefully crafts its offerings and advertising message, and it strategically sets prices and selects locations to appeal to its target market. These efforts represent Starbucks'

positioning strategy.

Tandy's Styles involves its customers in the process of developing new products. In this way, it can benefit from current customers' insights and develop new products that will meet these customers' needs. Tandy's is pursuing a ________ growth strategy.

product development

Suppose that Hardee's wanted to evaluate social media content to find out how well its most recent advertising campaign was being received by consumers. This could be done using

sentiment analysis.

In the past, manufacturer's representatives did not have real-time inventory data about the products they were selling. Today, manufacturer's representatives are often provided online access to inventory data for the companies they represent. These online inventory systems allow companies to become more value-driven by

sharing information across the organization.

Meryl is 27 years old and loves to use WeChat to share videos with her friends overseas. Meryl is fulfilling her need to

socialize.

When Walmart issued new standards for livestock products that were raised on food without antibiotics or artificial growth hormones, it considered multiple ________, including the ranchers that supply the food, its customers, and animal welfare groups.

stakeholders

In the immediate marketing environment, the first factor that affects the consumer is

the company's capabilities.

In delivering value, marketing firms attempt to find the most desirable balance between

the need to provide benefits to customers and keep down costs.

Michele's Beauty Secrets is a new, organic-based makeup line. Michele would like to hire Cassie Thorpe, a renowned makeup artist, to demonstrate the use of Michele's Beauty Secrets in her blog. Michele knows that Cassie's followers will be highly interested in her product line. Which factor is Michele considering at this point?

the relevance of Cassie's background

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes

the value of their time and energy.

Many American consumers are replacing older versions of washing machines and dishwashers with water- and energy-saving models and to invest in phosphate-free laundry detergent and mercury-free and rechargeable batteries. These consumers

value contributing to a greener environment.

Which of the following is a category of analysis used for understanding data collected from social media?

Determining the amount of user traffic accessing the site.

How might Starbucks ensure that it behaves in a socially responsible way toward members of its supply chain?

It can purchase coffee beans from suppliers who pay coffee growers a fair price.

________ involves the process of defining the marketing mix variables so that target customers have a clear, distinctive, desirable understanding of what the product does or represents in comparison with competing products.

Market positioning

Marketers are more likely to find higher concentrations of foreign-born Americans and recent immigrants in

New York, Los Angeles, San Francisco, and Chicago.

Which of the following factors, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of an opportunity?

Recent consumer studies have indicated that Chinese consumers prefer American cars.

After a firm has identified the various stakeholders and their issues and gathered the available data, all parties relevant to the decision should engage in brainstorming and evaluating alternatives. ________ then review and refine these alternatives and choose a course of action.

Company leaders and managers

________ entails a sense of purpose for the firm that is higher than simply making a profit by selling products and services.

Conscious marketing

Customer retention programs are based on what concept?

Customer relationships should be viewed from a lifetime value perspective rather than on a transaction-by-transaction basis.

To promote their greener practices, nearly 60 private-sector companies have partnered with the ________, which seeks to reduce the deforestation caused by the production of many consumer products that rely on palm oil, soy, tree pulp, and paper.

Tropical Forest Alliance

Which of the following is true with regard to mobile advertising?

Within just a couple of years, mobile advertising will be a bigger market than digital advertising.

When a pharmaceutical company develops a new medication, it typically applies for a patent in order to prevent competitors from developing copycat products for several years. Pharmaceutical companies apply for patents to establish

a sustainable competitive advantage.

Marketers in the United States are paying increasing attention to ethnic groups because

approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups.

Which of the following is a traditional contextual element of website design?

color