MARKETING MAKE UP EXAM (1)

Over the last few months, Jose and his colleagues have analyzed the current business situation and identified target markets for his firm's personal care products. Finally, they developed the products, prices, distribution, and promotion that should appeal to each of those target markets. In doing so, Jose has also identified what he believes is an advantage his competitors cannot match. Jose and his colleagues have been developing

a marketing strategy.

When marketers work in controversial or polluting industries such as tobacco or fossil fuels, their central activities largely bar them from becoming

conscious marketers.

The strategic marketing planning process

is not always sequential.

Marketers must determine the price of a product carefully, based on potential buyers' beliefs about

its value.

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

managing the supply chain.

Parties that work along with the focal firm to provide goods and services to consumers are viewed as

corporate partners.

If McDonald's wanted to change its marketing strategy in response to the social trends outlined in the text, it might consider all of the following ideas except

creating an advertising campaign targeting elementary schoolchildren.

Insight Guides, a line of travel books, provides travelers with background information about people's beliefs, values, and customs in various parts of the world. Insight's books educate travelers about a country's

culture

Lisle Hair Company keeps track of the gender and age of its customers so it can target e-mails to them and be sure to have the right hair products in stock when they visit. This is an example of the use of ________ in marketing.

demographics

The sale of products that may damage the environment, the use of sweatshop labor, and the marketing of dangerous products are examples of

marketing ethical issues.

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

mission statement.

Effective promotion enhances a product or service's

perceived value.

Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following except

performance.

Tariffs artificially lower prices and make goods more competitive.

False

The purpose of conscious marketing is to make a product by selling products and services.

False

When a manufacturer sells truck and car parts to Toyota, this is an example of B2C marketing.

False

Which of the following statements regarding corporate social responsibility is true?

It sees limited overlap between the business and society, and between business and the planet.

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

Legislation and laws

LeBron James, Stephen Curry, and other athletes are paid huge sums of money by companies for celebrity endorsements. If endorsements by these athletes create a clear understanding among consumers of the companies' products in comparison to competing products, they can help with the firm's ________ strategy.

Positioning

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

employees.

The components of global market assessment include all of the following except

ethnic analysis.

If a firm wants to develop a sustainable competitive advantage, it should

examine its operations and customer relations to identify significant things competitors cannot easily copy.

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

firm itself

Changes in tariffs and quotas are

government actions that reduce competition from international firms.

ABC Company knew that its customers were interested in environmentally friendly business practices, so it began marking all of its products as environmentally friendly because they were made with all-natural ingredients, even though ABC's plant was one of the worst polluters in town. The term for this practice is

greenwashing.

All of the following are included in the decision-making metric except

The likability test

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

providing benefits to customers and keeping costs down

Jamie sells construction equipment. Whenever she calls on her building contractor customers, she asks if they are having any problems. In doing so, Jamie is addressing which of the following core aspects of marketing?

satisfying customer needs and wants

Cultural nuances, subcultures, and consumers' different views of their roles in different countries can make ________ complicated.

segmentation, targeting, and positioning

As part of her company's SWOT analysis, Cindy is assessing the company's internal environment, including

strengths and weaknesses.

One of the goals of value-based marketing is

to offer greater value than competitors offer.

Order the global entry strategies from lowest risk (1) to high levels of control (5)

1.Exporting of goods 2.Franchising 3.Strategic Alliance 4.Joint Venture 5.Direct Investment

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

Conscious marketing principle

Q)Organize the five steps involved in developing a marketing plan. Evaluate performance using marketing metrics Define business mission and objectives Conduct a situation analysis (SWOT) Identify and evaluate opportunities Implement marketing mix

Define business mission and objectives Conduct a situation analysis (SWOT) identify and evaluate opportunities Implement marketing mix evaluate performance using marketing metrics

The most common measure of market potential of an economy is a country's

GDP

When marketers use a variety of communication disciplines—advertising, personal selling, sales promotion, public relations, direct marketing, and online marketing including social media—in combination to communicate a value proposition to the customer, it is referred to as

Integrated Marketing Communications

When Marvel launched several successful series on Netflix, including Jessica Jones, The Defenders, Iron Fist, and Luke Cage, it employed a ________ strategy.

Product development

The idea that a good product will sell itself is associated with the ________ era of marketing.

Production

Match each of the components of the SWOT analysis of Coca-Cola with its respective example

Strenght Coca-Cola's High market share Opportunity Populations in BRIC countries are growing Threat Increasing competitors Weakness Low product diversification

During the market-oriented era, manufacturers began to focus on customers' needs before they designed or sold their products.

True

The greater the wealth of a country, generally, the better the opportunity a firm will have in that particular country.

True

When marketers monitor the economic situation affecting their target markets, they are likely to monitor changes in all of the following except

age.

The center of all marketing efforts is

the consumer