Marketing exam 1 (homework questions)

Which activity / activities are involved in the process of marketing ? a . Marketing employs the combined use of communication distribution and pricing strategies b . Marketing focuses solely on selling goods , services , and / or ideas to customers . c . Marketing focuses on practices that deliver value and benefits to customers . d . Marketing involves building long - term , mutually rewarding relationships with customers .

All of the following are correct: a . Marketing employs the combined use of communication , distribution and pricing strategies . c . Marketing focuses on practices that deliver value and benefits to customers . d . Marketing involves building long - term , mutually rewarding relationships with customers .

Identify the situation ( s ) in which a production - oriented firm can survive or prosper in the market place. a . Whendemand exceeds supply b . When competition is weak c . When supply exceeds demand d . When competition is strong

Both a . When demand exceeds supply b . When competition is weak

Which of the following encompasses the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets ? a . Market opportunity analysis b . Marketing mix C . Marketing strategy d . Marketing objective

C . Marketing strategy

A firm that acknowledges the importance of all four marketing mix decisions ( product decisions , placeor distribution decisions , promotion decisions , and pricing decisions ) is a _____________ firm . a . production - oriented b . societal - oriented c. market oriented d . sales - oriented

C . market oriented

When an organization believes that apart from achieving its targets and satisfying customers , it also needs to be responsible for preserving or enhancing individuals ' and society's long - term best interests , then the organization is said to have a orientation . a . customer b . production C . societal marketing d . sales .

C . societal marketing

In the context of SWOT analysis , which of the following can be considered a strength of an organization ? a . Increased taxes on products b . Easily imitated products and services C. A superior production technology d . A new unserved market

C. A superior production technology

Which of the following statements is true of the innovation matrix ? a . If an SBU of a firm is in a market with low overall attractiveness , it must be harvested . b . Products are matched with markets to develop alternative marketing strategies . C. As a company moves away from its core capabilities , it moves through a range of innovation . d . Clear - cut sectors define modern businesses ' growth better than the fluid growth model .

C. As a company moves away from its core capabilities , it moves through a range of innovation .

Which of the following is a disadvantage of cause - related marketing ? a . It does not increase the sale of products . b . It results in immediate losses for a company because of its focus on a cause . C. It can lead to consumer cause fatigue . d . It requires corporations to use anticompetitive measures .

C. It can lead to consumer cause fatigue .

In the context of a marketing mix , which business activity is most closely related to a company's distribution strategies ? a . Attractiveness of the product packaging b . Selection of an advertising medium C. Storage of raw materials d . Targeting market segments

C. Storage of raw materials

Which of the following ethical theories states that the most ethical choice in a situation is one that produces the greatest benefit to the most people ? a . Casuist ethical theory b . Moral relativism theory C. Utilitarian ethical theory d . Deontological theory

C. Utilitarian ethical theory

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 . a . divestment b . diversification C. core innovation d . adjacent innovation

C. core innovation

At the preconventional level of ethical development of a person's moral character , the individual tends to : a . focus on the long - term results of his or her actions . b . adhere to social norms and laws . C. have an egocentric orientation . d . focus on societal expectations .

C. have an egocentric orientation

In the context of the portfolio matrix , which statement is generally true of SBUs considered to be dogs ? a . Protection of existing market share is essential for dogs . b . Dogs have a dominant market share in low - growth markets . c . Typical marketing strategies for dogs are to harvest or divest d . Dogs escalate in the market if given strong financial funding .

Oc . Typical marketing strategies for dogs are to harvest or divest

Philips , a large seller of energy - efficient light bulbs , uses extensive promotional strategies to stimulate sales . Marketers at Philips have noticed that a competitor is steadily gaining market share , and they want to counter the competition immediately by increasing the sales of Philips ' bulbs . Given the situation , which of the following is the quickest and easiest step that Philips ' marketers can take to stimulate the sales of its products ? a . Changing the pricing strategy b . Adopting a divesting strategy c . Creating complex production techniques d . Entering into new supplier contracts

a . Changing the pricing strategy

Which of the following processes provides the mechanisms for comparing 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 ? a . Control b . Marketing audit c . Evaluation d . Implementation

a . Control

_________ is a business's concern for the long - range welfare of both the company and its relationship to the society within which it operates . a . Corporate social responsibility b . Preconventional morality C. Moral relativism d . Corporate self - dealing

a . Corporate social responsibility

Which of the following ethical theories believes that people should abide by their obligations and duties when confronted with an ethical dilemma ? a . Deontological theory b. Moral relativism theory c . Casuist ethical theory d . Utilitarian ethical theory .

a . Deontological theory

Walmart is the largest retailer in the world with brick - and - mortar stores and a growing Internet business . Walmart continues to innovate and utilize technology to create opportunities to bring customers to the store such as its service to provide customers the opportunity to shop online and pick up at the store . Walmart has also faced criticism due to its practices of paying workers low hourly wages and making it difficult for part - time employees to get group health insurance . Many consumers such as Jalen refuse to shop at the store due to their concerns about low wages for workers . Based on this scenario , which criteria for an exchange to occur is missing ? a. Each party is willing to consider the other to be a desirable exchange partner b . There must be at least two parties c . Each party has something of value to offer another party d . Each party must be capable of communication and delivery

a . Each party is willing to consider the other to be a desirable exchange partner

Which of the following defines the key goal of an SBU that is a very successful cash cow ? a . Hold b . Divest c . Harvest d . Build

a . Hold

The marketers at Carrier have prepared a marketing plan for the company's air conditioners . Carrier's management team have outlined several activities for their account executives based on this marketing plan and set a deadline and allocated a budget for each activity . Which of the following stages of the marketing plan is illustrated in this scenario ? a . Implementation b . Evaluation . c . Vertical integration d . Control

a . Implementation

Which statement is true of cause marketing ? a . It involves the cooperative efforts of a for - profit firm and a nonprofit organization for their mutual benefit b . It seldom helps companies increase the sale of their products . C. It occurs when government agencies and nonprofit agencies launch social campaigns . d . It describes a marketing relationship based on a straight donation .

a . It involves the cooperative efforts of a for - profit firm and a nonprofit organization for their mutual benefit .

Which of the following is correct about the product development strategy of Ansoff's strategic opportunity matrix ? a . It is a marketing strategy that - entails the creation of new products for present markets . b . It is a marketing strategy that tries to increase market share among existing customers . c . It is a marketing strategy that entails attracting new customers to existing products . d . It is a strategy of increasing sales by introducing new products into new markets .

a . It is a marketing strategy that entails the creation of new products for present markets .

Which of the following statements is true of on - demand marketing ? a . It is aimed at enhancing customer relationships b . It requires firms to focus on the internal rather than the external business environment . C. It is the most important strategy used by sales - oriented firms . d . It places maximum emphasis on aggressive personal selling strategies .

a . It is aimed at enhancing customer relationships

A premise of the Boston Consulting Group model states which of the following ? a . Management must find a balance among the SBUS that yields the overall organization's desired growth and profits with an acceptable level of risk . b . Companies must rely on new , unfamiliar assets to develop the type of breakthrough decisions that would determine their sustainability in the future . c . The underlying assumption is that market share and profitability are not linked . d . The challenge according to the model is balancing the organization's portfolio for the best short - term performance .

a . Management must find a balance among the SBUS that yields the overall organization's desired growth and profits with an acceptable level of risk .

Tropical Horizons has opened its spas in Thailand , Indonesia , and Malaysia and is aggressively expanding into countries around the Mediterranean . This illustrates which of the following strategies of Ansoff's strategic opportunity matrix ? a . Market development b . Diversification c . Market penetration d . Product development

a . Market development

Mark is a high school math teacher and has group health insurance . However , his insurance policy has very high deductibles and co - pays for prescription medicines . Mark sometimes has to choose between buying food and paying for his prescribed insulin since he has diabetes . Finally he gets desperate and steals food from a convenience store . What ethical theory has Mark displayed in this case ? a . Moral relativism b . Rule utilitarianism C. Casuist d . Act utilitarianism

a . Moral relativism

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 _______________ a . his coworkers had a strong ethical culture . among themselves b . the top managers of his firm had little control over organizational culture c . organizational rules were flouted in his firm d . a code of ethics was absent from his firm

a . his coworkers had a strong ethical culture among themselves

As a social media network , Facebook has evolved to fill users ' needs for a variety of communication beyond simply updating their status , posting photos or video from their day - to - day life . Users like Rachel can now post messages that they are looking to buy or sell items . Rachel recently posted that she had a solid oak dining room table and chairs for sale in great condition for $ 250 . Caleb and his partner have been looking for a dining room set but they don't use Facebook - only Instagram and Twitter . Is it likely an exchange will occur ? a . No , it is not likely an exchange will occur because the parties are not using the same platforms of communication . b . Yes , it is likely an exchange will occur as each party will consider the other to be a desirable exchange partner . c . Yes , it is likely an exchange will occur because there are at least two parties . d . No , it is not likely an exchange will occur since it's not known whether the dining room set is of value to another party .

a . No , it is not likely an exchange will occur because the parties are not using the same platforms of communication .

Which of the following is one of the four major components of the pyramid of corporate social responsibility ? a . Philanthropy b. Self - dealing c . Opportunism d . Creativity

a . Philanthropy

____________ is the process of anticipating future events and determining strategies to achieve organizational objectives in the future . a . Planning b . Holding c . Product development d . Marketing myopia

a . Planning

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 ? a . Preconventional morality b . Ethnocentric morality c . Postconventional morality d . Conventional morality

a . Preconventional morality

Which of the following ethical theories believes in the well - being of maximum people using the fairest means available ? a . Rule utilitarianism theory . b . Deontological theory C. Act utilitarianism theory d . Moral relativism theory

a . Rule utilitarianism theory .

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 ? a . Social sustainability b . Physical sustainability c . Economic sustainability d . Environmental sustainability

a . Social sustainability

A company is most likely to fail to achieve a marketing objective if there are changes in the environment ___________ a . after the objective is specified and the strategy is implemenited b . before the objective is specified and after the strategy is debated c . before the objective is specified and the strategy is implemented d . after the objective is specified and before the strategy is implemented

a . after the objective is specified and the strategy is implemenited

A sales - oriented company is one that focuses on _____________ a . aggressive sales techniques b . the internal capabilities of the firm c . the needs and wants of the customers d . enhancing individuals ' and society's long - term best interests

a . aggressive sales techniques

In the portfolio matrix , a business unit that generates more cash than it needs to maintain its market share is called a : a . cash cow b . dog . C. star . d . problem child .

a . cash cow

Talbot's , a women's clothing store produces a special scarf that it sells in October to coincide with breast cancer awareness month . For every purchase of the scarf , Talbot's will donate 50 % of the retail price to the Komen Foundation . Talbot's is engaging in _________ marketing . a . cause related b . social c . responsible d . philanthropic

a . cause - related

A business firm is collaborating on an initiative with a nonprofit organization by providing public - relations training to working professionals throughout a country . Twenty percent of the fee that the participants would pay is given to the nonprofit organization . The nonprofit organization in turn reaches a wider range of audience across the country for its training program . This scenario illustrates a . cause- related marketing b . effect - related marketing c . green marketing d . relationship marketing

a . cause- related marketing .

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 . a . control b . environmental scanning C. implementation d . post - audit

a . control

Allan protests against individuals who litter on roads because he believes that society expects cleanliness from people . This illustrates a . conventional morality b . utilitarianism C. preconventional morality d . moral relativism

a . conventional morality

The socializing force that governs what is ethically right and wrong is called __________ a . culture b . morality C. virtue ethics d . ethics

a . culture

The relationship between benefits and the sacrifice necessary to obtain those benefits is known as _____________ a . customer value b . customer satisfaction c . teamwork d . empowerment

a . customer value

on the company's official website to resolve they are not available in retail locations near potential Samsung , an electronics and appliance manufacturer , decides to launch its new line of smartphones logistics issues that the company has identified . With this modification , its customers can now buy the smartphones directly from Samsung even if consumers . In this case , Samsung focuses on the ____________ element of the marketing mix a . distribution b . price C. promotion 'd . evaluation

a . distribution

A firm that has adopted a societal marketing'orientation focuses on ____________ a . enhancing individuals and society's long term best interests b . aggressive sales techniques c . the internal capabilities of the firm d . encouraging intermediaries to push their products

a . enhancing individuals and society's long term best interests

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 . a . harvesting b . divesting c . building . d . holding

a . harvesting

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 - a . its focus on manufacturing specific products may not meet customer needs and wants b . it concentrates on relationship building , empowerment , and teamwork c . it emphasizesenhancing individuals ' and society's long - term best interests d . it focuses on providing value and benefits to its customers instead of meeting company objectives

a . its focus on manufacturing specific products may not meet customer needs and wants

The management of Intel believes that success can be achieved with a thorough understanding of its competitive arena and by developing products that satisfy the needs , wants , and expectations of customers . Therefore , Intel can be said to have a _________ orientation . a . market b . societal C. sales d . production

a . market

Delat Corp. is a large corporation that offers several product lines . On the company's website , the following text is highlighted : " The aim of our business is to achieve profitability by offering our customers high - quality products that are manufactured in a cost - effective manner . Our goal is to provide value to our customers , serve the community , and preserve the environment . " This text is most likely to be Delat Corp.'s _____________. a . mission mission statement b . statement of qualification c . article of incorporation d . scenario planning

a . mission statement

A company that creates a marketing strategy to attract consumers who want to interact anywhere / anytime and expect interactions with the company to be easy is most likely practicing _____________. a . on demand marketing b . innovation marketing c . sales - oriented marketing d . societal - oriented marketing .

a . on demand marketing

Tower Tools 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 case of production and the talents of its resources rather than the needs and wants of the marketplace , can be attributed to its ______________ orientation . a . production b . sales C. societal d . market

a . 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 . a . production b . market c . sales d . societal

a . production

One component of promotion within the context of a marketing mix includes ____________. a . public relations activities b . storage and transportation of finished products c . after - purchase services d . pricing strategies

a . public relations activities

An organization that devises strategies to convince a customer to buy their product in spite of acknowledging the mismatch between the customer and the product is said to be a ____________ organization . a . sales oriented b . societal - oriented C. customer - oriented d . market - oriented

a . salesmoriented

According to sales - oriented firms , marketing means a . selling goods and services and reaping profits from them b . enhancing individuals ' and society's long - term best interests c . employing practices that deliver value and benefits to customers . d . building long - term , mutually rewarding relationships with customers

a . selling goods and services and reaping profits from them

A code of ethics : a . should be in written form to avoid confusion . b . should include an operations schedule of day - to - day activities . c . should be limited to a list of dos and don'ts . d . Does not help employees to identify what is wrong and what is right .

a . should be in written form to avoid confusion

Which term refers to the optimum utilization of assets so that a firm continues making profit in the long run ? a . Social sustainability b . Economic sustainability c . Physical sustainability d . Environmental sustainability

b . Economic sustainability

Which of the following is an example of a competitive advantage due to a product / service differentiation ? a . Reengineering b . Establishment of a strong brand name C. Procurement of inexpensive raw materials d . Control of overhead costs

b . Establishment of a strong brand name

Ronald Systems Inc. has developed a line of appliances that runs on solar energy and causes no harm to the environment . Which of the following business practices is illustrated in this scenario ? a . Divestment b . Green marketing c . Opportunism d . Cause - related marketing

b . Green marketing

Which of the following actions is primarily associated with a niche strategy ? a . Selling products without extra frills or options b . Choosing a target market that is not being served by major competitors c . Lowering labor costs d . Manufacturing products in bulk and targeting average customers

b . Choosing a target market that is not being served by major competitors

Which of the following is a written company guideline to help marketing managers and other employees make better decisions ? a Morals b . Code of ethics c . Self - regulations d . Laws .

b . Code of ethics

Which of the following statements is true of rule utilitarianism ? a . A current ethical dilemma should be compared with similar examples and outcomes before deciding on a course of action . b . Decisions must benefit the maximum number of people through the fairest and most universally just means available . C. Ethical truths depend on the individuals and groups holding them . d . Intuition and personal feelings should guide decision making when faced with ethical dilemmas .

b . 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 ? a. Aim at being the low - cost competitor in the industry b . Develop the skills and assets of the organization c . Imitate the products of its competitors d . Depend on government subsidie

b . Develop the skills and assets of the organization

The basic goal of __________ is to increase the short - term cash return without too much concern for the long - run impact . a . divesting b . harvesting c . building d . holding

b . harvesting

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 ? a . He will be concerned about how people will view his decisions . b . He will be concerned about how he sees and judges himself over the long run . c . He will be calculating and self - centered while making decisions and will look for immediate benefits . d . He will make decisions that are not beneficial for most people .

b . He will be concerned about how he sees and judges himself over the long run .

When considering ethical theories , which statement is true of moral relativism ? a . It is a belief based on rules and individual obligations . b . It does not believe in absolute rules . c . Moral relativists believe that an act is always ethically wrong if it is legally wrong . d . Moral relativists believe that the most beneficial choice for the most people is ethically correct .

b . It does not believe in absolute rules .

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 ? a . It is more likely that the action will not result in a negative outcome . b . It is more likely that marketers will recognize that behavior as unethical . C. Fewer people will be affected by the negative outcome . d . Fewer individuals inside and outside the organization will be affected by the outcome of the action .

b . It is more likely that marketers will recognize that behavior as unethical .

Which of the following does a business exhibit when it describes itself in terms of goods and services rather than in terms of the benefits customers seek ? a . Marketing dissonance b . Marketing myopia c . Marketing inertia d . Marketing diversification

b . Marketing myopia

Which of the following ethical theories is defined as a belief in time - and - place ethics and holds that ethical truths depend on the circumstances ? a . Casuist ethical theory b . Moral relativism theory c . Deontological theory d . Utilitarian ethical theory

b . Moral relativism theory

When considering ethics in other countries , which of the following statements is true ? a . Corruption seldom occurs in international business dealings . b . The practice of making illegal payments , such as bribes , is accepted and expected in various countries . C. Ethical beliefs don't vary widely from culture to culture . d . Prosecutions under the Foreign Corrupt Practices Act have significantly declined .

b . The practice of making illegal payments such as bribes , is accepted and expected in various countries .

Which of the following statements is true of market - oriented firms ? a . They believe that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits . b . They assume that the sale of goods or services does not depend on an aggressive sales force but rather on a customer's decision to purchase that product . c . They claim that people must give up something in order to receive something else they would rather have . d . They focus on their internal capabilities rather than on the desires and needs of the customers .

b . They assume that the sale of goods or services does not depend on an aggressive sales force but rather on a customer's decision to purchase that product .

In the context of the Boston Consulting Group's ( BCG's ) portfolio matrix , which of the following is true of SBUS considered to be question marks ? a . They generate more cash than they need to maintain their market share b . They operate in a high - growth industry with a low market share . c . They do not require any cash to maintain their market . d . They have low growth potential and a small market share .

b . They operate in a high - growth industry with a low market share .

A statement of what is to be accomplished through marketing activities is called a _____________. a competitive advantage b . a marketing objective c . market opportunity analysis d . the marketing mix

b . a marketing objective

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 _____________ a . philanthropy b . cause related marketing c . moral relativism . d . green marketing

b . cause related marketing .

The strategy that depends on customer - oriented personnel , effective training programs and empowered employees is called _____________ a . customer satisfaction b . customer relationship management C. customer value d . customer orientation

b . customer relationship management

A customer's assessment of whether an organization's goods or services have met his or her needs and expectations is defined as ________________ a . customer value b . customer satisfaction c . customer relationship d . customer management

b . customer satisfaction

Stacy , a customer of Associated Bank , feels that the bank has met her expectations for high - quality service . She gives the bank high ratings on their feedback form and also recommends the bank to her friends and family . Stacy's evaluation of Associated Bank is a reflection of ___________ a . customer relations b . customer satisfaction C. consumer management d . customer value

b . customer satisfaction

A marketing mix typically involves : a . divestiture strategies . b . distribution strategies с . restrictive covenants . d . federal regulations .

b . distribution strategies

In the context of SWOT analysis , marketers ' can identify strengths and weaknesses by focusing on : a . aspects of the marketing environment . b . employee capabilities . c . macroenvironmental factors . d . demographic forces .

b . employee capabilities

The authority that employees are given swiftly solve customers ' problems is referred to as a . customer value b . empowerment c . training d . teamwork

b . empowerment

The collection and interpretation of data about forces , events , and relationships in the external environment that may affect the organization's future or its marketing plan implementation is called : a . niche marketing . b . environmental scanning . c . a building strategy . d . competitive advantage .

b . environmental scanning

Developing long - term sources of clean water to improve health and preserve local ecosystems while creating a competitive advantage is an example of : a . social sustainability . b . environmental sustainability c . physical sustainability . d . economic sustainability .

b . environmental sustainability

Fourlotts Inc. is a renowned technological firm . It manages many strategic business units ( SBUS ) in which each SBU : a . does not have control over its resources . b . has its own return on investment c . refrains from performing manufacturing functions . d . shares the same goals and employs the same strategies as other SBU's within Fourlotts Inc.

b . has its own return on investment

According to Ansoff's strategic opportunity matrix , a firm using the market penetration alternative would try to : a . attract new customers to existing products . b . increase market share among existing customers C. create new products for present markets . d . introduce new products into new markets .

b . increase market share among existing customers

Unlike a sustainable competitive advantage a cost competitive advantage : a . involves producing goods that cannot be copied by competitors . b . is subject to continual erosion . c . seeks to target a single segment of the market . d . does not need to maintain satisfactory profit margins .

b . is subject to continual erosion .

When a firm believes that the social and economic validation for its existence is obtained from achieving their organizational objectives by satisfying customer wants and needs legally and responsibly , then that firm is said to be _________ oriented . a . societal b . market . c . sales d . production

b . market .

The management of Under Armour's apparel department 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 Under Armour is a __________ organization . a . production - oriented b . market oriented c . sales - oriented d . societal - oriented

b . market oriented

The rules that people develop as a result of cultural values and norms are called a . laws b . morals c . self - regulations d . social - regulations

b . morals

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 ___________ a . empowerment b . on demand marketing c . societal marketing d . team - building

b . on demand marketing

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 . a . dog b . problem child c . cash cow d . star

b . problem child

Providing something to a target market that is unique and valuable beyond simply offering a lower price than that of the competition is called a . an experience curve b . product / service differentiation c . reengineering d . a niche competitive differentiation

b . product / service differentiation

The strategy of improving relationships with existing customers , which is based on the assumption that most customers prefer to maintain an ongoing relationship with one organization rather than switch continually among providers in their search for value , is defined as________________ a . empowerment b . relationship marketing C. customer value d . teamwork

b . relationship marketing

Robin , a police sergeant , believes that bribing is illegal . He does not accept bribes irrespective of the amount of money . Robin is demonstrating __________ a . act utilitarianism b . rule utilitarianism c . ethical relativism d . moral relativism

b . rule utilitarianism

Applying employees ' collaborative efforts to accomplish common organizational objectives is known as _________ a . empowerment b . teamwork c . relationship management d . training

b . teamwork

One component of product in a marketing mix is ____________ a . personal selling b . the company image c . the point of purchase d . sales promotion

b . the company image

In the context of a marketing mix , the product component includes : a . personal selling . b . the name of the brand . c . the elements . of advanced strategic planning . d . the point of purchase .

b . the name of the brand .

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 ? a . Virtue ethics . b . Moral relativism c . Act utilitarianism d . Rule utilitarianism

c . Act utilitarianism

In the context of the innovation matrix , which of the followingdecisions is designed to take company strengths into new markets ? a . Core innovations b . Retroactive innovations c . Adjacent innovations d . Transformational innovations .

c . Adjacent innovations

Which activity is considered to be the starting point for building relationships with customers ? a . Offering generous discounts to all customers b . Increasing business with existing customers c . Attracting new customers d . Retaining current customers

c . Attracting new customers

Jack is told by a foreign official that he cannot obtain the contract that he critically needs unless he pays a bribe . Which of the following ethical theories would not allow bribing ? a . Ethnocentric morality b . Moral relativism c . Deontological theory d . Utilitarian ethical theory

c . Deontological theory

Which of the following activities is not required to achieve a market orientation ? a . Examining information about customers , competitors , and markets from a business perspective b . Determining and implementing actions to provide and deliver added value to customers c . Employing a high - quality sales force to aggressively promote goods and services d . Obtaining information about customers , competitors , and markets

c . Employing a high quality sales force to aggressively promote goods and services

Which statement about the pyramid of corporate social responsibility is true ? a . Social responsibility efforts should be focused on the external and not the internal stakeholders of a corporation . b . Ethical responsibilities of a corporation provide the basis for other responsibilities c . If a company does not make a profit , then the other 3 responsibilities - legal , ethical and philanthropic are moot d . Philanthropy should be the most important function of a corporation

c . If a company does not make a profit , then the other 3 responsibilities - legal , ethical and philanthropic are moot .

Which of the following statements is true about a marketing plan ? a . It is developed independently of the external business environment . b . It is a set of orally communicated rules and is seldom written down . c . It defines the business mission and objectives . d . It lacks the elements of advanced strategic planning .

c . It defines the business mission and objectives

Which of the following statements is true of the marketing concept ? a . It overlooks the importance of understanding the competitive arena and competitors ' strengths and weaknesses . b . 1 It states that marketing solely means selling things and collecting money . c . It states that an organization should satisfy customer wants and needs while meeting organizational objectives . d . It states that firms should give maximum importance to aggressive promotional and advertising activities .

c . It states that an organization should satisfy customer wants and needs while meeting organizational objectives .

Identify a critical component of a market - oriented firm . a . It embraces marketing as a means of selling things and collecting money . b . It focuses primarily on the internal capabilities of the firm . c . It understands the strengths and weaknesses of competitors . d . It encourages intermediaries to aggressively push products .

c . It understands the strengths and weaknesses of competitors .

Paul Green is one of the leading women's shoe companies in Germany . It manufactures leather shoes that are similar to those produced by luxury European brands . The management of the company has decided to adopt a product / service differentiation competitive strategy . In this scenario , what would Paul Green be likely to do ? a . Sell products to markets outside of Europe . b. Offer its products at the lowest prices in the market c . Produce boots , heels and sandals , that have specialized features d . Advertise their products through more media outlets than before

c . Produce boots , heels , and sandals , that have specialized features

When considering the determinants of a civil society , which of the following refers to the voluntary acceptance of standards established by nongovernmental entities ? a . Behavioral norms b . Social control c . Self- regulation d . Ethics

c . Self- regulation

Which of the following ethical theories states that it is an organization's social responsibility to pay attention to the interest of every affected stakeholder in every aspect of an organization's operation ? a . Deontological theory b . Casuist ethical theory c . Stakeholder theory d . Moral relativism theory

c . Stakeholder theory

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 ? a . Philanthropy b . Social regulations c . Sustainability d . Opportunism

c . Sustainability

Which of the following statements is true of the deontological theory and the utilitarian ethical theory ? a . The deontological theory compares a current ethical dilemma , while the utilitarian ethical theory is a belief in time - and - place ethics . b . The deontological theory states that the truth of a moral judgment is relative to the judging person or group , while the utilitarian ethical theory is a character trait valued as being good . c . 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 . d . The deontological theory considers the welfare of the people , while the utilitarian ethical theory does not .

c . 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 .

In the context of marketing , which of the following statements is true of nonprofit organizations ? a . They aim to maximize market share and investment returns . b . They make use of extensive advertising and promotional activities . c . They exist to achieve goals other than business related goals . d . They market tangible products .

c . They exist to achieve goals other than business related goals

Which of the following practices can help businesses gain a cost competitive advantage ? a . Using expensive raw materials b . Focusing on serving marginal customers c . Using simplified production techniques . d . Customizing products with extra features

c . Using simplified production techniques

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 . a . divest b . hold c . build d . harvest

c . build

In the portfolio matrix , a business unit that has low growth potential and a small market share is called a : a . cash cow . b . problem child . c . dog . d . star

c . dog .

The strategy in which an SBU preserves market share so that it can take advantage of a very positive cash flow is called ______________ a . divesting b . building c . holding d . harvesting

c . holding

Companies that place customers at the center of their business are those that follow a ___________ orientation . a . production b . sales c . market d . societal

c . market

A person whose behavior illustrates the deontological theory of ethics would ___________ a . adopt an approach that is concerned with the welfare of others b . choose an alternative that adheres to laws and standards set by the government without considering his or her obligations toward society c . stick to his or her obligations when stuck in an ethical dilemma because doing one's duty is what is considered . ethically correct d . choose an alternative based on a comparison of his or her current ethical dilemma with examples of similar ethical dilemmas

c . stick to his or her obligations when stuck in an ethical dilemma because doing one's duty is what is considered . ethically correct

Which of the following statements is true of a utilitarian ? a . A utilitarian will always keep his promises to a friend and follow the law . b . A utilitarian is not necessarily concerned with the welfare of others . c . A utilitarian compares similar predicted solutions and uses a point system . d . A utilitarian believes that arson is always wrong .

c. A utilitarian compares similar predicted solutions and uses a point system .

Which of the following represents a business's concern for society's welfare ? a . Preconventional morality b . Moral relativism c. Corporate social responsibility d . Opportunism

c. Corporate social responsibility

Which of the following is a drawback of a sales orientation ? a . It gives importance to the production function over other functions . b . It gives excessive importance to the needs and wants of the marketplace . c . It frequently cannot convince people to buy goods that they don't want or need . d . It places high emphasis on the assessment of manufacturing plants and facilities .

c. It frequently cannot convince people to buy goods that they don't want or need .

Patagonia follows a market - oriented approach , whereas Columbia believes in a sales - oriented approach . Considering their approaches , it is evident that __________ has have a competitive edge in today's market . a . neither b . both c. Patagonia d . Columbia

c. Patagonia

Rues and West Bros. , an ammunition manufacturer , defines its mission statement as being in the ammunition - production business rather than in the arms industry . In the given scenario , Rues and West Bros. is exhibiting ____________ a . marketing blockage b . marketing inertia c. marketing myopia d . marketing dissonance

c. marketing myopia

Sanofi is a pharmaceutical company that designs its products to suit the needs of a group of people with similar characteristics . In this case , Sanofi should target which of the following market segments ? a . A group of individuals who reside in the same residential area b . A group of individuals who are working professionals c . A group of individuals who work in the same organization d . A group of individuals who are diabetic

d . A group of individuals who are diabetic

Which marketing philosophy could most help a company outperform its competitors in today's marketplace ? a . A production orientation b . A societal marketing orientation c . A sales orientation d . A market orientation

d . A market orientation

According to the three levels of ethical development , which statement is true of conventional morality ? a . It is the most basic level of ethical development . b . It is predominantly characterized by an egocentric viewpoint of an individual . c . A person at this level performs unethical and manipulative actions . d . A person at this level is more concerned with how an action will be viewed by others .

d . A person at this level is more concerned with how an action will be viewed by others .

According to Ansoff's strategic opportunity matrix , which of the following factors is associated with market development ? a . Limit resources used for promotion . b . Increase the prices of existing products . C. Limit production . d . Add new uses to current products .

d . Add new uses to current products .

Which of the following is a similarity between a production orientation and a sales orientation ? a . Both ignore the importance of assessing a firm's internal capabilities . b . Both place little emphasis on the assessment of manufacturing plants and facilities . c . Both fail in a market where demand exceeds supply . d . Both lack an understanding of the needs and wants of the marketplace .

d . Both lack an understanding of the needs and wants of the marketplace

How are act utilitarianism and rule utilitarianism similar ? a . Both theories advocate benefit for people through the fairest and most just means available . b . Both theories are beliefs based on time - and - place ethics . c . Both theories compare a current ethical dilemma with similar examples . d . Both theories have flaws associated with predicting the future consequences of an action .

d . Both theories have flaws associated with predicting the future consequences of an action .

In which way are deontological theory and moral relativism similar ? a . Both theories compare a current ethical dilemma with similar examples and outcomes . b . Both theories are free from flaws . c . Both theories are concerned with the welfare of others . d . Both theories may lead to actions that are not ethically correct .

d . Both theories may lead to actions that are not ethically correct .

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 ? a . Utilitarian ethical theory b Moral relativism theory c . Deontological theory d . Casuist ethical theory

d . Casuist ethical theory

Which of the following theories assumes that the outcomes of a current ethical dilemma will be comparable to the outcomes of similar ethical dilemmas ? a . Ethical relativism b . Rule utilitarianism c . Act utilitarianism d . Casuist ethical theory

d . Casuist ethical theory

Which of the following statements is true of a niche strategy ? a . Only large companies can implement a niche strategy . b . Companies that adopt a niche strategy can only gain a price advantage over competitors . c . Companies that adopt a niche strategy tend to serve large geographic markets . d . Companies that adopt a niche strategy target a single market segment .

d . Companies that adopt a niche strategy target a single market segment .

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 ? a . Postconventional morality b . Ethnocentric morality C. Preconventional morality . d . Conventional morality

d . Conventional morality

In which level of ethical developmentdoes a person move from a self - centered viewpoint to behaviors that adhere to the norms of society ? a . Preconventional morality b . Postconventional morality C. Ethnocentric morality d . Conventional morality

d . Conventional morality

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 ? a . Introduce new products into new markets . b . Attract existing customers rather than new customers . c . Create new products for its present markets . d . Focus on promoting new uses for old products .

d . Focus on promoting new uses for old products .

Which of the following activities is not true of the marketing concept ? a . Integrating all the organization's activities to satisfy customer wants b . Satisfying customer wants and needs legally and responsibly c . Focusing on customer wants and needs in order to distinguish products from competitors ' offerings d . Focusing on internal capabilities rather than on customer wants and needs

d . Focusing on internal capabilities rather than on customer wants and needs

Which of the following is correct about a sustainable competitive advantage ? a . It copies competitors . b . It does not offer any low - priced products . c . It lowers costs by removing frills . d . It cannot be copied by the competition .

d . It cannot be copied by the competition .

Identify which statement correctly describes the effect price has in the marketing mix . a . It is the least important of the four Ps of the marketing mix . b . It is the hardest to change among the four Ps of the marketing mix . c . It does not affect a firm's competitive advantage . d . It is what a buyer must give up to obtain a product .

d . It is what a buyer must give up to obtain a product .

Crystal Cruises , a luxury cruise company , is providing a promotional offer to mark its twenty - fifth anniversary . Customers will receive a complimentary cruise ticket upon purchase of three balcony tickets . In this case , which of the following is a likely outcome of its promotional strategy ? a . This particular promotion will work independently of the other three elements of the marketing mix . b . It may be ineffective because the role of promotion in the marketing mix does not apply to services . c . It will satisfy the customers and not the management of Crystal Cruises . d . It may increase the sales of Crystal Cruises .

d . It may increase the sales of Crystal Cruises

Which of the following statements is a feature of the Foreign Corrupt Practices Act ( FCPA ) ? a . It prohibits U.S. corporations from involvement in international business dealings . b . It cannot prosecute cases of bribery . c . It offers significant advantages to U.S. businesses dealing in countries in which the use of illegal payments and bribes is acceptable . d . It prohibits U.S. corporations from making illegal payments to : foreign governments

d . It prohibits U.S. corporations from making illegal payments to : foreign governments .

Quarter Sawn Oak makes and sells original handicraft oak furniture and cabinet 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 Quarter Sawn Oak's business ? a . It targets a market segment that is crucial to major competitors . b . It serves a large geographic market . c . It develops products that are similar to those of its competitors . d . It serves only a limited geographic market .

d . It serves only a limited geographic market .

When considering corporate social responsibility , which is true of stakeholder theory ? a . It states that the management does not play a special role in the organization . b . It states that companies should only focus on increasing shareholder wealth . C. It states that social responsibility is best carried out by government agencies . d . It states that a company is expected to be a good citizen in its community .

d . It states that a company is expected to be a good citizen in its community .

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 ? a . It will try to attract new customers to its products . b . It will create new products for its existing customers . c . It will move away from its core capabilities and diversify its business . d . It will try to increase its market share i among existing customers ..

d . It will try to increase its market share i among existing customers ..

Which one of the following is a hallmark of relationship marketing ? a . Aggressive sales techniques b . Focusing on internal capabilities of the firm . c . Enhancing society's long - term best interests d . Long- term focus on customer needs .

d . Long- term focus on customer needs

All of the following are advantages of defining a firm's mission in terms of benefits that customers seek except for which one ? a . Keeping the firm focused on its customer , instead of becoming preoccupied with its internal needs b . Encouraging innovation , creativity , and developing new ways to satisfy customer expectations c . Stimulating an awareness of changes in customer desires and preferences so that product offerings remain relevant d . Management can focus on creating an aggressive sales force

d . Management can focus on creating an aggressive sales force

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 ? a . Act utilitarianism b . Casuist ethical theory . c . Rule utilitarianism d . Moral relativism

d . Moral relativism

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 ? a . Legal responsibilities b . Ethical responsibilities c . Economic responsibilities d . Philanthropic responsibilities

d . Philanthropic responsibilities

Jamal is a marketing manager who , when it comes to ethical decisions , is more concerned about the long - term effects of an ethical decision he makes than what others think of his decision . Therefore , which level of ethical development does Jamal's behavior demonstrate ? a . Conventional morality b . Preconventional morality C. Ethnocentric morality d . Postconventional morality

d . Postconventional morality

Which of the following is an element of a marketing mix ? a . Investment strategies b . Trade restraint strategies c . Divestment strategies d . Pricing strategies

d . Pricing strategies

Which of the following strategies can enable companies to gain a cost competitive advantage ? a . Focusing on serving marginal customers b . Differentiating their products from competing products c . Target a single segment of the market d . Removing frills from products

d . Removing frills from products

Marketers at Keurig , makers of coffee machines , are developing promotional strategies to increase product sales . In this case , which of the following strategies would its marketers likely use to improve product / brand awareness among the public ? a . They would limit the products ' availability to a few retail stores in the city . b . They would reduce product features or options . c . They would raise the prices of the products to signify high quality . d . They would print pamphlets that elaborate the products ' features .

d . They would print pamphlets that elaborate the products features .

The Foreign Corrupt Practices Act ( FCPA ) was enacted because congress was concerned about a . to set a standard for the suite of educational apps . b . None of these . C. so that website operators obtain verifiable consent from parents before collecting personal information about children under age thirteen . d . U.S. corporations ' use of illegal payments and bribes in international business dealings .

d . U.S. corporations ' use of illegal payments and bribes in international business dealings .

The price component of a marketing mix is : a . the least flexible element of the marketing mix . b . the basis for achieving a product differentiation advantage . c . the starting point of the marketing mix . d . a competitive weapon for companies .

d . a competitive weapon for companies .

Employees are more likely to take prudent risks to a build stronger business and sustain the company's success in addition to taking responsibility for their actions when they are ________ a . given less work b . offered extensive training C. not pressurized with deadlines d . empowered to immediately resolve customer problems

d . empowered to immediately resolve customer problems

Quasio Foods Inc. is a large food manufacturing corporation that earns more profits than its competitors . The company uses only organically grown grains and fruits . It also promotes organic farming and helps nonprofit agencies who focus on food and nutrition causes . The company recently decided to use a third - party recycling logo . In this scenario , Quasio Foods is most likely to have adopted the practice of _______________ a . relationship marketing b . affinity marketing C. event marketing d . green marketing

d . green marketing

Bumble & Bumble is a large company that manufactures and sells hair care products . It plans to adopt a product development strategy . In this case , Bumble & Bumble will : a . introduce a new product into China . b . sell its existing products in Europe . c . offer hair care products at competitive prices . d . introduce a new product line of chemical free , all - natural shampoos to its present customers .

d . introduce a new product line of chemical free , all - natural shampoos to its present customers .

According to Ansoff's strategic opportunity matrix , unlike market development , product development : a . involves entering new markets as competitors . b . focuses on attracting present customers to existing products . c . involves attracting new customers to present products . d . involves creating new products for present markets .

d . involves creating new products for present markets .

A market - oriented firm has a competitive advantage over its sales - oriented counterpart because _____________ a . it focuses primarily on the internal capabilities of the firm b . it focuses on aggressive sales techniques to sell its products C. it enhances society's long - term best interests d . it defines its business in terms of benefits its customers seek

d . it defines its business in terms of benefits its customers seek

A firm could benefit from a production orientation when ____________ a . it focuses on what products company management thinks should be produced , and hopes customers want b . the market demand is less than the products supplied by the firm C. competition is strong d . it produces exactly what the market wants

d . it produces exactly what the market wants

When a firm believes that the sale of a product depends on the decision of the customer rather than on aggressive sales techniques , then the firm is said to be ______________ oriented . a . production . b . sales c . societal d . market

d . market

Quentin is a server at Olive Garden restaurant and enjoys meeting new people who dine at the restaurant . Recently , an elderly couple visited , and Quentin overheard them talking about their financial struggles . They asked Quentin for refills of salad and extra breadsticks that they could take . home with them . Quentin agreed even though it was against corporate policy . What Quentin exhibited conforms to the ethical theory of : a rule utilitarianism . b . act utilitarianism . c . casuist ethical theory . d . moral relativism

d . moral relativism

Companies that are developing new ways to integrate and personalize each stage of a customer's decision journey are practicing _________________ a . sales - based marketing b . empowerment c . production - based marketing d . on demand marketing

d . on demand marketing

Keebler sells cookies and nutrition bars . The marketers at Keebler are trying to develop new and attractive packaging designs for its cookies . In this scenario , Keebler is working on its ____________ a. advertising strategy b . purchase strategy . c . distribution strategy d . product strategy

d . product strategy

Critics of Ansoff's matrix mention that the matrix does not : a . indicate which types of markets can be created or entered given a company's core capabilities . b . provide firms with different marketing strategies . c . outline clear - cut sectors for businesses . d . reflect the reality of how businesses grow .

d . reflect the reality of how businesses grow .

The management at Asus Computers believes that high sales will result in high profits . Together with the company sales force , management devises a sales strategy to promote their new line of convertible laptops based on the assumption that consumers will purchase a product if the company promotes it aggressively . This sales hypothesis can be attributed to the company's __________ orientation . a . production b . societal c . market d . sales

d . sales

When a firm believes that employing aggressive sales techniques would help sell their product in the market , then the firm is said to have adopted a ___________ orientation . a . production b . market c . societal d . sales

d . sales

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 a . production b . sales c . market d . societal marketing

d . societal marketing .

A production - oriented firm is one that focuses on __________________ a . the needs and wants of the customers b . enhancing individuals ' and society's long - term best interests c . aggressive sales techniques d . the internal capabilities of the firm

d . the internal capabilities of the firm

The thorough , systematic , periodic evaluation of the objectives , strategies , structure , and performance of the marketing organization is called a . post - implementation audit b . post - audit tasks c . evaluation and control d . the marketing audit

d . the marketing audit

The Marriott 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 . a . socially b . production c . sales d. customer

d. customer

The total revenue of a firm is calculated by multiplying the number of units sold by the _________ of each unit . a . overhead cost b . discount . c. profit margin d . price

d. price