Marketing 340
Through consumer-generated marketing, consumers themselves are playing a bigger role in shaping their own brand experiences and those of others. True or False
True
An SBU can be a company division or a product line within a division, but not a single product or brand True or False
False
Big data presents marketers with big opportunities True or False
False
Cause-related marketing techniques are typically unprofitable for businesses, which is why it is a rarely used form of corporate giving. True or False
False
Exploratory research would be used to gather data about the market potential for a new product True or False
False
In the 4Ps of the marketing mix, promotion refers solely to advertising True or False
False
Light users are often a small percentage of a company's market but account for a high percentage of total consumption True or False
False
Many SBUs start out as stars and move into the question mark category if they succeed True or False
False
Marketers typically limit their market segmentation analysis to a single variable in order to simplify the process True or False
False
People use the same products and services as they progress through each life-cycle stage True or False
False
Secondary data consist of information collected for the specific purpose at hand. True or False
False
The Office Depot Foundation serves its financial publics through a variety of programs True or False
False
The buying center consists of key decision makers from both the buying organization and the supplier True or False
False
The objective of descriptive research is to gather preliminary information that will help define the problem and form hypotheses. True or False
False
Tom usually buys new devices such as PDAs, DVRs, and MP3 players only after his friends and family start owning these devices. In this case, Tom is an innovator. True or False
False
When a consumer learns about a new product for the first time and makes a decision to try it, the consumer is engaged in the evaluation of alternatives process True or False
False
When sellers pay less attention to the specific products they offer and more attention to the benefits and experiences produced by these products, they suffer from marketing myopia. True of False
False
_ are small groups of consumers who interact directly and informally with product designers without a moderator Cross-functional groups Immersion groups Traditional focus groups Observational groups Ethnographic groups
Immersion groups
Suppliers and resellers can update their accounts, arrange purchases, and check orders against inventories through _ a company's extranet search engines a company's intranet electronic mail marketing intelligence
A company's extranet
Companies are adapting their promotional efforts to reflect the changing dynamics of American families True or False
True
Companies like Coca-Cola and Facebook deliver customer satisfaction by spreading happiness and connecting individuals through shared experiences. True or False
True
Customer-perceived value is defined as a customer's evaluation of the perceived difference between all the benefits and all the costs of a market offering relative to those of competing offers. True or False
True
Government regulations are intended to protect consumers, companies, and societal interests True or False
True
Ideally, a sample should be representative so that a researcher can make accurate estimates of the thoughts and behaviors of the larger population. True or False
True
In vendor-managed inventory, buyers share sales information directly with key suppliers True or False
True
Many companies have started to target the LGBT market segment which has significant buying power True or False
True
Marketers have a better chance of taking advantage of a person's secondary beliefs than his or her core beliefs. True or False
True
New communications technologies like satellite TV and social media are likely to eliminate the need for markets to be geographically segmented as clusters of countries. True or False
True
Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies True or False
True
Product, price, place, and promotion make up the elements of a firm's marketing mix. True or False
True
SBUs identified as cash cows need less investment than stars. True or False
True
Smaller companies may lack the skills and resources needed to serve larger segments True or False
True
Target and Kohl's have opened smaller-format stores designed to fit the needs of densely packed urban neighborhoods. This is an example of geographic segmentation True or False
True
The 4As framework takes into consideration the buyer's view of the market. True or False
True
Stew Leonard's has created what has been the "Disneyland of Dairy Stores," complete with costumed characters, scheduled entertainment, and a petting zoo. It's built 30 additions onto the original store, which now serves more than 300,000 customers each week. This legion of loyal shoppers is largely a result of the store's passionate approach to customer service. Instead of focusing on individual transactions, Stew and his staff are putting a priority on ________ 1. attracting "butterflies" 2. capturing customer lifetime value 3. converting "strangers" into "butterflies" 4. decreasing customer-perceived value 5. managing partner relationships
2. Capturing customer lifetime value
A greater focus on underlying customer needs than on existing customer wants leads to marketing mytopia True or False
False
Cosmetic retailer Lush knows that doing what's right benefits both customers and the company. Their premium beauty products are made by hand from the freshest possible natural ingredients. This as an example of the _______ concept? 1. product 2. societal marketing 3. selling 4. production 5. marketing
2. Societal marketing
Which of the following is a difference between the marketing concept and the selling concept? 1. The marketing concept focuses on customer conquest, whereas the selling concept focuses on targeting the right customers. 2. The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products. 3. The marketing concept focuses on short-term sales, whereas the selling concept strives to build long-term customer relationships. 4. The marketing concept takes an inside-out perspective, whereas the selling concept takes an outside-in perspective. 5. The marketing concept is product-centered, whereas the selling concept is production-centered.
2. The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products
JetBlue's promise to put "You above all" by "bringing humanity back to travel is their _____ 1. market offering 2. value proposition 3. production concept 4. selling concept 5. segmentation strategy
2. Value proposition
Mattel's American Girl doll creates special ______ between the dolls and the girls who adore them 1. values 2.benifits 3. brand experiences 4. service offerings 5. wants
3. Brand experiences
The Amazon Prime program strives to convert casual shoppers into loyal customers. An Amazon Prime customer can be classified as a _____ 1. butterfly 2. barnacle 3. true believer 4. laggard 5. stranger
3. True believer
In which of the following circumstances is an organization likely to engage in full partnerships with key consumers? 1. When the firm has a few marketing resources at its disposal 2. When the firm has a frequency marketing program 3. When the firm has a large number of low-margin customers 4. When the market has few customers and high margins
4. When the market has few customers and high margins
Ainsworth is a toy manufacturer based in Australia. Which of the following most likely indicates that Ainsworth is following a diversification strategy? Ainsworth increases its spending on advertising and promotion. Ainsworth acquires the rights to manufacture toys resembling a popular cartoon character. Ainsworth introduces its toys in the Indian and South-East Asian markets. Ainsworth develops a new line of educational toys targeting its current market. Ainsworth enters the U.S. market with a line of children's clothing.
Ainsworth enters the US market with a line of children's clothing
Vertigo is an electronics company. According to the BCG matrix, which of the following products of Vertigo would most likely classify as a question mark? Electra — a home entertainment system that has a strong market share in a market that is likely to expand in the future Blue — a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily SoLo — a CD player that has a very low market share in a market that is shrinking rapidly Jump — an MP3 player that has a high market share in a market that is not expected to grow significantly SpinDrive — a car audio system that has a high market share in a market that has been growing constantly
Blue a cell phone that s designed for music lovers and has a very low market share in a market that is growing steadily
Ursa Martin, a book publisher, has decided to work with Hope in Children, a charity foundation that helps feed and educate children in poor countries. Ursa Martin has decided that a percentage of revenue from every book it sells will go to the charity. The books are marketed by conveying this message to customers. Which of the following marketing techniques describes Ursa Martin's association with Hope in Children? niche marketing test marketing joint venture marketing green marketing cause-related marketing
Cause related marketing
Which of the following is not considered a source of competitive intelligence? suppliers and resellers competitors' internal databases key customers a company's sales force online databases
Competitors' internal databases
Lilly's, a furniture retailer, sells low-end furniture and accent pieces that are targeted toward lower-income consumer groups. Lilly's most likely segments the consumer market based on ________ variables behavioral universal psychographic geographic demographic
Demographic
Port Orleans Shipping markets different services to the tourism, defense, and trade segments. The firm designs separate offers for each segment based on their needs. This approach is called _ mass local concentrated individual differentiated
Differentiated
__ refers to reducing the business portfolio by abandoning products that no longer fit the company's overall strategy. Diversification Market segmentation Downsizing Vertical integration Product line extension
Downsizing
The citizen-action publics in a company's marketing environment include __ stockholders and investment analysts government trade agencies environmental groups news channels employees and managers of the company
Environmental groups
A market researcher wants to find the cause-and-effect relationship between using organic ingredients in food and the subsequent consumption by customers. He invites ten respondents to his research firm and asks them to taste two identical dishes. The dishes were prepared in a similar manner, but one has natural herbs for flavoring, and the other has artificial flavors. This is an example of __ experimental research online research exploratory research descriptive research ethnographic research
Experimental research
"At CL Online, we create customer connectivity, anytime, anywhere" is a product-oriented mission statement True or False
False
Which of the following is most likely categorized as a business market? firms that buy goods and services for further processing retail outlets that buy goods and services to sell at discounted prices government agencies that buy goods and services to produce public services individuals who buy goods and services for personal consumption firms that buy goods and services to resell for profit
Firms that buy goods and services for further processing
Reseller markets consist of ___ government agencies that buy goods and services to produce public services firms that buy goods and services to sell at a profit firms that buy goods and services to assemble overseas individuals who buy goods and services for personal consumption firms that buy goods and services for further processing
Firms that buy goods and services to sell at a profit
Which of the following is an example of consumer-generated marketing? 1. Fun & Run, a local amusement park, promotes its services by allowing consumers to upload videos and write reviews about the park 2. Figa, a leading provider of athletic shoes helps its customers customize their shoes on its website and choose personalized settings 3. Bartons, a local pet store, rewards frequent buyers with vouchers and exclusive offers 4. Cristal, a jewelry store, uses its page on facebook to provide information about its upcoming products to its customers 5. Engergix a manufacturer of soft drinks, attracts customers through televised advertisements
Fun & Run, a local amusement park, promotes its services by allowing consumers to upload videos and write reviews about the park
Which generational group is most comfortable using digital technologies? Lost Generation Generation X Zoomer Generation Z Millennial
Generation Z
Which of the following has resulted from the increased educational levels of the U.S. population? lower mobility of the U.S. population greater job growth for professional workers lower acceptance of technological changes higher number of manufacturing jobs lower number of women in the workforce
Greater job growth for professional workers
A not-for-profit firm uses a small convenience sample to gather data on customer reactions. It invites a small group of customers for lunch and asks them to share what they think about the products they have purchased from the firm. This is an example of _ neuromarketing informal surveys experimental research formal surveys direct marketing
Informal surveys
Which of the following is true of a good marketing information system? It develops a way of offering information about future plans of action that might not be very feasible or cost-effective. It focuses solely on maximizing the amount of data generated irrespective of relevance. It balances the information that a firm would like to have against what they really need. It eliminates the time-consuming task of assessing the information needs of a firm. It typically uses only external sources of data in marketing research.
It balances the information that a firm would like to have against what they really need
Which of the following is true of survey research? It is not suitable for collecting data for descriptive research. It is the most widely used method for gathering primary data. It is the most suitable method for establishing causal relationships. It is inflexible and cannot be used in many different situations. It is the best method to use when people are unwilling to answer questions
It is the most widely used method for gathering primary data
Stores offering low-quality alternatives to luxury products at low prices most likely follow a ________ positioning strategy more-for-the-same more-for-more more-for-less less-for-much-less same-for-less
Less-for-much less
__ marketing tailors brands and promotions to the needs and wants of specific cities, neighborhoods, and even stores Individual Mass Niche Differentiated Local
Local
Evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are attained is called __ marketing implementation marketing development market targeting marketing control market planning
Marketing control
Rad, a manufacturer of luxury watches, charges a higher price for its products than its competitors. Despite the high prices, the brand is popular among customers for its quality and service in comparison to cheaper alternatives available in the market. In this case, Rad offers a(n) ________ value proposition. more-for-more more-for-less same-for-less more-for-the-same all-or-nothing
More-for-more
Which of the following is the first stage of the buyer decision process? purchase decision postpurchase behavior information search evaluation of alternatives need recognition
Need recognition
Which of the following is true of question formats in questionnaires? Open-ended questions allow respondents to choose among the best answer options available. A scale question is an example of an open-ended question. Closed-ended questions allow respondents to answer in their own words. Closed-ended questions are difficult to evaluate when compared to open-end questions. Open-ended questions are useful in exploratory research to find out what people think.
Open-ended questions are useful in exploratory research to find out what people think
Which of the following is considered a major influence on business buyer behavior? organizational factors general need performance reviews demographic criteria social forces
Organizational facors
Harper Farms raises chickens. For years, it has used wooden coops for hauling its poultry to market. When the owner, Jane Harper, went to reuse some of her coops, she noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced. Which stage of the business buying decision process was Harper in when she decided to replace her old coops? problem recognition product specification product value analysis general need description performance review
Problem recognition
The boom in online, mobile, and social media has created a new set of social and ethical issues for companies. Their greatest concern involves __ protecting the privacy of knowing and unknowing customers providing too many alternative products online which confuses customers failure to provide value-priced products for online customers rarely following the marketing orientation when devising promotional offers online failing to reach their target customers through online marketing
Protecting the privacy of knowing and unknowing customers
Jeff is in the process of buying a new car. He carefully analyzes the features that he wants in a car, and perceives significant differences in price, quality, and features among three of his favorite models. He rates the models on each factor and ranks them in the order of his preference. To which of the following stages of the buyer decision process will Jeff most likely proceed next? information search postpurchase behavior evaluation of alternatives purchase decision need recognition
Purchase Decision
The most common research instrument, whether administered in person, by phone, by e-mail, or online, is the _ focus group mechanical device questionnaire personal interview telephone interview
Questionnaire
When a company chooses to divest a particular strategic business unit, it __ increases the advertising budget for that strategic business unit sells off or phases out the strategic business unit invests more in the strategic business unit to build its market share invests just enough in the strategic business unit to keep its market share at the current level gradually increases investment in the strategic business unit over time to maximize profits
Sells off or phases out the strategic business unit
According to the BCG matrix, products or businesses with a high market share in a high-growth market are classified as ____ stars heroes dogs cash cows question marks
Stars
A(n) ________ reflects the general esteem given to the different roles of a person by society motive attitude belief tradition status
Status
A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a(n) _ exclusive distribution system dual distribution system straight rebuy modified rebuy new task situation
Straight rebuy
______ are customers who show low potential profitability and little projected loyalty. Barnacles True believers Strangers Butterflies True friends
Strangers
Managing the marketing function begins with a complete analysis of the company's situation. A thorough ________ is typically undertaken to guide decision making portfolio analysis industry overview situation analysis internal assessment SWOT analysis
Swot analysis
__ is defined as a business strategy where business buyers prefer to buy a complete solution to a problem from a single seller rather than buying and consolidating separate products and services from several suppliers. Supplier development Modified rebuy New task buying Straight rebuy Systems selling
Systems selling
Which of the following is part of the microenvironment of a firm's marketing environment? the political state of the country in which the firm exists the suppliers who work with the company the technological resources available to the company the cultural forces that exist in a society the different demographic trends in the market
The suppliers who work with the company
An effective MIS assesses information needs, develops needed information, and distributes the information to help managers with decision making True or False
True
Which of the following are examples of internal publics of a company? newspapers, magazines, television stations, blogs, and other Internet media neighborhood residents and community organizations governmental departments and agencies that regulate businesses the managers, board of directors, and workers of the company the general public that is directly affected by the company
The managers, board of directors, and workers of the company
Which of the following is true of product positioning? A product's position is defined by the number of competitors in a market. Consumers cannot position products with or without the help of marketers. Product positioning has little influence on the design of marketing mixes. Consumers generally reevaluate products every time they make a buying decision. To simplify the buying process, consumers are likely to position products in their minds
To simplify the buying process, consumers are likeyly to position products in their minds
A small increase in consumer demand can cause a large increase in business demand True or False
True
Which of the following is an approach where firms target a whole market based on common consumer needs? geographic segmentation micromarketing concentrated marketing undifferentiated marketing demographic segmentation
Undifferentiated marketing
If men and women respond dissimilarly to the marketing efforts for a root beer-flavored malt beverage, they are considered ________ market segments. observable measurable accessible reachable differentiable
differentiable
Which of the following will most likely be included in the "price" component of a company's marketing mix? sales promotion packaging inventory brand name discounts
discounts
Which of the following groups is included in both a company's value chain and its value delivery network? customers employees distributors competitors suppliers
employers
P&G was among the first to use ________ segmentation when it introduced Secret, a deodorant brand specially formulated for women's chemistry. geographic age and life-cycle behavior psychographic gender
gender
A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a _ late-majority adopter reference group membership group subculture laggard
reference group
Which of the following is the means by which companies post purchase requests online and invite suppliers to bid for their business? ntranet connections trading exchanges traditional procurement extranet links reverse auctions
reverse auctions
