marketing

Lakukan tugas rumah & ujian kamu dengan baik sekarang menggunakan Quizwiz!

Approximately what percentage of those people who have smartphones actually make purchases from these devices?

50 percent

______ uses a variety of statistical analysis tools to uncover previously unknown patterns in data or relationships among variables.

Data mining

Of the five steps to the strategic marketing planning process, which step usually comes first?

Define the business mission

Which of the following is the correct order for the product life cycle?

Introduction, growth, maturity, decline.

According to your text, at what point did the concept of social media start to become more serious and professional?

after Y2K and the bursting of the dot-com bubble

Which of the following includes the nonphysical aspects of a product, such as warranties and product support?

augmented product

When developing a marketing strategy, ethics should

be considered throughout the process, using different questions at different stages.

Camille was shopping online for a new pair of dress boots. The first website she clicked on only offered hiking boots and not the dress boots she was looking for, so Camille left that site immediately and continued on her search. Under which metric for analyzing online activity would marketers categorize Camille's activity?

bounce rate

If consumers think that the discount store with the lowest prices on food is going to have the lowest prices on all goods, the discount store has achieved a positive

brand association.

The value of a brand can be determined by looking at the set of assets and liabilities linked to a brand that add to or subtract from its value. The result of this calculation is

brand equity.

When one firm contracts with another to use a brand name, logo, symbol or character for a negotiated fee, this is known as

brand licensing.

According to the American Marketing Association, the specific values to which marketers should aspire include honesty, responsibility, fairness, respect, openness and

citizenship.

Fenton graduated with a marketing degree and is working in the marketing department for a major retailer. He has now decided he'd like to work in the firm's social media division. Ideally, he would like to be responsible for handling corporate forums and blogs, increasing traffic to the firm's website and broadening the firm's community. Fenton is most likely hoping to secure a job as a

community manager.

Which of the following is NOT a step in The Ethical Decision-Making Framework?

consult appropriate regulatory officials

The _____________ is the center of all marketing efforts.

consumer

The consumer decision process begins when

customers recognize that they have an unsatisfied need.

Joe, the owner of a local hardware store, is in the process of going through his customer's purchase histories to determine if they purchase certain types of products together on a regular basis, so he can then market those products more effectively. What activity is Joe engaged in?

data mining

Marketers often use principles and theories from sociology and psychology to

decipher many consumer choices and develop basic strategies for dealing with their behavior.

Market research firms can provide information indicative of human population segments such as age, gender, race and income. This information can provide marketers with a "snapshot" of the typical consumer in a specific target market and are collectively referred to as

demographics.

Firms using a(n) _______ targeting strategy, target several market segments with a different offering for each.

differentiated

According to your text, the most basic corporate social responsibility to employees is to

ensure a safe working environment.

The practice of marketing has an impact on customers, the firm, the market, and society in general. Which of the following is NOT a core aspect of marketing?

ensuring that financial statements correctly reflect the value of the firm's brands

Instead of having to choose between making a profit or doing good for society, companies can combine __________ and _____________ to do both while building a solid corporate reputation.

ethics; corporate social responsibility

Steve has been working his way through the five steps in the development of a marketing plan. He has examined the firm's business mission and objectives and developed a SWOT analysis in some detail. Before he can implement the marketing mix, he must begin identifying market segments that his company could pursue. In target marketing, Steve will:

evaluate each potential segment's attractiveness.

Maslow's Hierarchy of Needs is a powerful tool for marketers to

explain different kinds of motives consumers have and use.

A firm's macroenvironment includes _____________ factors, which the marketer cannot _______________.

external; control

Customers seek benefits and will consider trade-offs among them, while also considering costs. In value-based marketing, the marketer must

find opportunities to meet as many needs as possible while also keeping costs down.

Best Years Travel targeted consumers living in New York City who were over 50 years of age. Best Years Travel was using ________ segmentation.

geodemographic

Brian heard his unit described as a cash cow. At first, he wasn't sure he liked that, but felt better about it when he learned it meant

his unit has excess resources that can be spun off to other business units that need it.

Relative advantage, compatibility, observability, and trialability affect

how quickly an innovative product will be accepted by a market.

The Segmentation, Targeting and Positioning Process is not always linear, but the final stage is to

identify and develop a positioning strategy.

When marketers execute pricing, promotion, place and product strategies, they are in the ___________________ phase of marketing planning.

implementation

A brand extension

increases the product mix's breadth.

Katrina has a blog on which she writes her opinion about the latest fashions. Her blog is read by almost everyone in her network and she often sways people by her opinions. Which measure of individual social media effectiveness does this refer to?

influence

Firms can choose to market its current products to current customers or take the same product to another market with similar customers. Otherwise, to succeed they must

innovate

Consumers who feel the need to be the first to see a new movie, try a new restaurant, own a piece of new technology, or wear the latest fashion accessory are crucial to the success of any new product for they help the product gain market acceptance. These consumers are known as

innovators

Once a consumer recognizes he or she would like to go from a needy state to a different, desired state, the consumer decision process continues with

internal and external searches for information.

A firm seeks to obtain insights and information from customer relationship management and/or loyalty programs so it can provide personalized offers aimed at exciting its targeted customer. In doing so, the firm is most likely attempting to make sure its offer

is relevant.

When asked in a survey whether they had seen any unethical behavior among their colleagues, chief marketing officers cited that they had observed all the following EXCEPT

kickbacks to corporate buyers from supply chain vendors.

Consumer purchases may be affected by perceived or actual ______________, which refer to the way consumers spend their time and money.

lifestyles

Which of the following accurately represents the three-stage process of social media engagement?

listen, analyze, do

The _____ a product exists in the marketplace; the more likely it is that the market will become _____.

longer; saturated

One reason Forever Green Lawn Service invests in retention by using ______ segmentation is because finding new customers is costly.

loyalty

What are the two basic brand ownership strategies?

manufacturer and retail

As identified in the text, Marketing is important for all of the following reasons EXCEPT

marketers advise the human resource department on the right type of employees to hire.

The four Ps comprise the ________________, which is the controllable set of activities that the firm uses to respond to the wants of its target markets.

marketing mix

When marketers systematically collect, record, analyze, and interpret data in order to aid in decision making, they are engaged in

marketing research.

When selecting a target market, a marketer should

match the firm's competency with a market segment's attractiveness.

Kathy has been assigned the task of assembling information to monitor whether the plans that were implemented are achieving what they are supposed to. She will look at both performance and financial measures. She will use a series of _____________, which are measuring systems that quantify a trend, dynamic, or characteristic.

metrics

The final step of the consumer decision process is _______, which is of particular interest to marketers because it entails actual rather than potential customers.

postpurchase behavior

When stores like Target work with vendors to create exclusive in-store items, or advertise a policy to match retail pricing, they are most likely trying to combat any damage that could result from the use of _____ apps.

price check

The major advantage of ________ data is that it can be tailored to meet specific marketing research needs.

primary

The _________ package is the one the consumer uses, while the _____________ package is the wrapper or exterior carton that provides the UPC label.

primary; secondary

Alpha testing and beta testing are two processes that take place during which stage of the product development process?

product development

Although competitors can copy or match the goods and services a firm offers, the firm can still develop a sustainable competitive advantage through ______________ if its products have high perceived value and effective branding or positioning.

product excellence

In the Product Development Process, the step that requires tremendous financial resources and extensive coordination of all aspects of the marketing mix is

product launch.

A firm's product mix is often made up of multiple

product lines.

The goal of _____________ is to inform, persuade or remind potential buyers about a good or service to influence their opinions and elicit a response.

promotion

Which of the following is NOT an important trend, as outlined in your text, that marketers must monitor in the macroenvironment?

red/blue marketing in election years

Firms that focus on the lifetime profitability of their relationships with their customers as opposed to how much money they make in each transaction operate under a _______ orientation.

relational

Once a marketer has selected potential market segments for a product or service, he or she can evaluate each segment to determine if customers in the segment will react similarly and positively to the firm's offering. In doing so, the marketer is evaluating if the segment is

responsive.

Marketers would like to be in the consumer's _________ set for a purchase decision, but even more, they would like to be in the consumer's _________ set.

retrieval; evoked

When Diego and his team took apart the competitor's product, analyzed it, and tried to create an improved product that did not infringe on the competitor's patents, they were engaged in the process of

reverse engineering.

Scanner data, U.S. Census data, internal company data and Internet background research are all examples of ______ data.

secondary

Marketing firms become more value driven by focusing on four activities. Which of the following is NOT one of those activities?

They concentrate on making a profit above all else.

Marketers like Benetton want their ads to appeal to one's ________, suggesting to consumers "I'm like them, so I should buy their products."

self-concept

One of the most important issues marketers must address before beginning a marketing research project is whether or not

senior management is willing to abide by the results.

Because they will spend a fair amount of time comparing alternatives, for most consumers, a laptop computer would be considered a(n)

shopping product.

Your text outlines a number of segmentation methods a firm may choose to utilize. Which of the following is NOT one of the choices?

sociological segmentation

Current and retired employees, customers, and suppliers are all considered to be part of a firm's

stakeholders.

Marketers must consider the political and regulatory environment, which may have a profound impact on competition, promotion, product safety and the operation of the marketplace. Key players in this environment include all of the following EXCEPT

stock exchanges.

A SWOT analysis is part of a firm's situation audit. SWOT is an acronym for

strengths, weaknesses, opportunities, and threats.

Firms with ______________ tend to be more socially responsible.

strong ethical climates

The group of firms that make and deliver a given set of goods and services is known as the

supply chain.

Which of the following is NOT included in the American Marketing Association's guidelines for marketing research?

supporting efforts to overcome consumers' concerns about privacy.

Supply chain efficiency, a strong brand name, and customer satisfaction are likely to be sources of a

sustainable competitive advantage.

Commercial research firms such as Symphony IRI Group, J.D. Power and Associates and ACNeilsen all provide data that marketers can purchase. This type of data is known as _____ data.

syndicated

When fast food restaurants come up with new offerings, they often market them in a dozen or so of their outlets. When they do this, they are engaged in

test marketing.

A good marketer can identify potential opportunities by paying close attention to customer needs and continuously monitoring

the business environment in which the company operates.

Which of the following is NOT a macroenvironmental factor?

the firm's competitors

The disadvantages to secondary research are that it may not be precisely relevant to the information that is needed, the data sources may be biased and

the methodologies for collecting data may not be appropriate.

The term "perception" refers to

the process by which individuals select, organize, and interpret information.

Jerry is designing an online survey questionnaire. When designing the questionnaire, Jerry should

use language respondents are familiar with.

Which of the following would NOT be used in calculating the profitability of a segment?

variable costs

_______ is the practice of marketing two brands together on the same package, promotion or store.

Co-branding

__________________ refer(s) to the actions of a firm to address a wide range of social, environmental and ethical interactions with its community. Though somewhat controversial, these actions are significant in that the company undertakes them voluntarily, and the firm realizes that these actions can be profitable, too.

Corporate social responsibility

__________ is the shared meanings, beliefs, morals, values, and customs of a group of people.

Culture

Consumers' privacy concerns led to enactment of the

Federal Trade Commission's Do Not Call registry.

Compared to other groups, members of the _______________ generational cohort are more likely to marry and buy homes later in life, are more cynical, are shopping savvy and are considered to be astute consumers.

Generation X

Which professional site allows users to post to question-and-answer forums as well as post personal intellectual property, such as presentations they have given?

LinkedIn

Which of the following is one of the four major growth strategies marketers typically pursue?

Market development

______________ are intangible customer benefits that are produced by people or machines, and cannot be separated from the producer.

Services

_______ describes the steps that consumers go through before, during, and after making purchases.

The consumer decision process model

Jared likes to be on the cutting edge of technology and is usually the first of his friends to obtain the newest products available. Social media gives him the opportunity to post and share his creative ideas. In the world of social media, Jared would be considered

a creator.

What does the Ethical Decision-Making Metric (Exhibit 4.4) offer the marketer?

a framework for looking at multiple dimensions of an issue in order to choose an appropriate course of action

Customers give up things they value—for example, money, information or time—to a firm in return for goods, services and ideas. This process is called

a marketing exchange

A document that analyzes the current marketing situation, opportunities and threats for the firm, marketing objectives in terms of the four Ps, action plans, and pro forma financial statements is known as

a marketing plan.

Which of the following is NOT one of the steps in the Product Development Process?

new product promotion

Peter could attend any of several universities. He has high grades and test scores and is a star athlete at his high school. He has been approached by recruiters from several schools, all of whom talk about opportunities in their athletic programs, the quality of their academics, and the potential for scholarships. Despite all this attention, Peter will only consider local universities because his girlfriend is still in high school. For his college choice, Peter is using a _____ rule.

noncompensatory decision

Once segmentation and targeting have been completed, the marketer turns to ________, often using a perceptual map to display graphically the customers' perceptions of the product and of its competitors' products.

positioning


Set pelajaran terkait

Math21 Trigonometry Double, Half-Angle Identities

View Set

Chapter 15: Entering Developed and Emerging Markets

View Set

A Brief History of the Modern Calendar

View Set

Cal Poly Art 112 Midterm 1 - Greece

View Set

Chapter 6 Anatomy - Skeletal System

View Set

ACS Physical Chemistry Thermochemistry Study Guide

View Set

Early Literacy for Children Birth through Three

View Set

Nutrition Exam 1 Review: Chapter 2

View Set