marketing study guide ch. 1-5 exam 1
______ integrates everything that a company's sales, service, and marketing teams know about individual customers, providing a 360-degree view of the customer relationship. a. CRM b. commercial online database c. focus group d. digital intelligence command center e. neuromarketing
CRM
After understanding the marketplace and customer needs, what is the next step in the marketing process? a. building profitable customer relationships b. creating profits c. delighting customers d. capturing value from customers e. designing a marketing strategy
designing a marketing strategy
Customer-driven marketing usually works well when a clear need exists and when customers ______ a. have relatively few options b. are easily influenced by promotional strategies c. are not price-sensitive d. have high disposable incomes e. know what they want
know what they want
One important new technology is _____, which can track products from point of production to their usage and disposal. a. robotics b. RFID c. smartphones d. bar code scanning e. the internet
RFID
A colleague needs to collect descriptive data about her customer's attitudes. She has not done this type of research before. What research approach would you recommend to best suit this research project? a. observation b. an ethnographic study c. use secondary data d. an experiment e. a survey
a survey
Demography studies statistics include _____. a. age, gender, race, and occupation b. age, race, and lifestyle c. age, gender, the economy, and face d. population size, density, and spending patterns e. the economy, technology, and age structure of the population
age, gender, race, and occupation
Which one of the following statements about marketing research in small businesses and non-profit organizations is correct? a. only large companies can afford to conduct marketing research b. although the research methods of small businesses and nonprofits are less complex and costly, they still must be conducted carefully c. surveys are the only research approach that can be effectively used by small businesses ad non-profits d. good research requires large sample sizes, which are not feasibly for small businesses and non-profits e. small companies and non-profits do not need marketing information
although the research methods of small businesses and nonprofits are less complex and costly, they still must be conducted carefully
What are the main components of a marketing plan? a. product, price, place, and promotion b. a marketing budget and a marketing dashboard c. segmentation, targeting, and positioning d. a mission statement, objectives, and a business portfolio e. an executive summary, situation analysis, strategy, action programs, budgets and controls
an executive summary, situation analysis, strategy, action programs, budgets and controls
_______ is the first stage in the new product adoption process a. awareness b. trial c. adoption d. evaluation e. interest
awareness
Today, many marketing managers are overloaded and sometimes overwhelmed by the amount of market information available to them. _____ is the general term that refers to the problems and opportunities that emerge from organizations attempting to make sense of the large complex datasets that have been amassed from a variety of sources. a. internal data b. positioning c. market research d. marketing intelligence e. big data
big data
Which of the following is an accurate statement about building customer relationships in the modern marketing era? a. digital technologies and social media have created few opportunities for marketers to engage their customers and deliver value b. at the current time, brands should wait to adopt new digital technologies and social media until the pace of change slows down c. even with the new digital technologies available to marketers, consumers, still cannot create personal brand experiences d. building relationships through consumer-generated marketing is expensive and time-consuming e. consumer-generated marketing is when marketers take an active role in shaping product and brand content
building relationships through consumer-generated marketing is expensive and time-consuming
A major activity in strategic planning is _____ analysis, whereby management evaluates the products and lines of business that make up the company a. positioning b. SWOT c. business portfolio d. growth share matrix e. competitive
business portfolio
To exercise their social responsibility and build more positive images, many companies are now linking themselves to worthwhile charitable organizations and social issues, a practice know as _____ a. value marketing b. cause-related marketing c. public policy d. corporate philanthropy e. socially responsible behavior
cause-related marketing
One challenge that marketers face regarding the macroenvironment is that _____. a. competitors' actions are not always predictable b. changes in this environment are often unforeseeable and uncontrollable c. forces in this environment are stable, so marketers must strive to innovate d. because actors in this environment are close to the company, they are sometimes overlooked e. because changes are predictable, the company has no advantage over competitors
changes in this environment are often unforeseeable and uncontrollable
Which of the following is true of environmental sustainability? a. sustainability is important, but a company's core mission should focus on profits and customers b. sustainability requires trade-offs between present needs and needs of future generations c. following gov't regulations is sufficient to support sustainability d. energy-efficient operations are unrelated to sustainability e. companies are learning that engaging in sustainable practices is good for business
companies are learning that engaging in sustainable practices is good for business
Which adopter group is skeptical and adopts a new product only after a majority of people have tried it? a. lagging adopters b. early adopters c. early mainstream d. late mainstream e. innovators
late mainstream
Which of the following is true regarding the technological environment? a. as products and technology become more complex, safety becomes less of a concern b. changes in technology are always beneficial to consumers and society c. companies must keep up with changes in technology or risk being left behind d. technological changes are the second most dramatic force in the macroenvironment after the economy e. the pace of technological change is slowing down
companies must keep up with changes in technology or risk being left behind
_______ is the systematic monitoring, collection, and analysis of publicly available information about consumers, competitors, and developments in the marketplace a. exploratory research b. competitive marketing intelligence c. big data d. a marketing information system e. causal research
competitive marketing intelligence
Which of the following correctly lists across in a company's microenvironment? a. publics, demographics, suppliers, and competitors b. suppliers, marketing intermediaries, technology, and publics c. competitors, marketing intermediaries, suppliers, publics d. the economy, publics, competitors, and suppliers e. suppliers, marketing intermediaries, competitors, and culture
competitors, marketing intermediaries, suppliers, publics
Five characteristics are important in influencing an innovation's rate of adoption. As _____ increases, the rate of adoption is slower a. divisibility b. compatibility c. relative advantage d. complexibility e. communicability
complexibility
Which of the following statements regarding the current economic environment is correct? a. consumers are using their credit cards more frequently and putting less money in the bank b. since consumer incomes and spending are again on the rise, companies can now de-emphasize value c. to reach today's frugal consumers, marketers should cut prices across the board d. consumers have resigned themselves to lives of deprivation e. consumer spending values now emphasize simpler living and more value for the dollar
consumer spending values now emphasize simpler living and more value for the dollar
The key element of successful marketing today is to _____ a. develop innovative products b. create value c. offer low prices d. sell on the internet e. advertise
create value
To capture value from consumers, marketers must _____ a. tell customers what they neeed b. advertise extensively c. focus on selling the product d. create value for consumers e. create award-winning products
create value for consumers
The total combined lifetime value of a company's current and potential customers is called _____ a. customer retention b. share of customer c. customer equity d. customer loyalty e. market share
customer equity
Companies like Coca-Cola and Geico have formed ______, typically led by a senior marketing executive and made up of experts from across the organization, whose purpose is to collect and analyze customer and market information from a wide variety of sources in order to identify and act upon new market opportunities a. customer insights teams b. social media monitoring command centers c. employee focus groups d. marketing research departments e. customer advocacy groups
customer insights teams
The aim of _____ is to produce high customer equity, the total combined customer lifetime values of all of the company's customers. a. customer service b market segmentation c. customer relationship management d. exchange e. customer satisfaction
customer relationship management
______, which depends on the product's perceived performance relative to a buyer's expectations, is an important factor in creating customer value and building long-term market relationships a. brand loyalty b. customer engagement c. customer satisfaction d. share value e. share of customer
customer satisfaction
Which of the following is not one of the four marketing management functions? a. control b. customer service c. planning d. implementation and organization e. analysis
customer service
The four P's of the marketing mix are redefined in buyer terms as the four Cs. What are the four Cs of the marketing mix? a. competitors, channel management, consistency, choice b. customers, competitors, convenience, communication c. customer cost, convenience, competitors, communication d. customer solution, convenience, communication, channel management e. customer solution, customer cost, convenience, communication
customer solution, customer cost, convenience, communication
______ is at the core of any marketing strategy a. segmenting, targeting, and positioning b. customer value and relationships c. planning, analysis, and implementation d. the marketing mix e. competitors, suppliers, and publics
customer value and relationships
Following the marketing concept means that firms are _____ a. profit-driven b. customer-driven c. product-driven d. sales-driven e. production-driven
customer-driven
Marketing, more than any other business function, deals with _____ a. suppliers b. customers c. employees d. regulators e. investors
customers
The most important actors I the company's microenvironment are _____. a. publics b. customers c. company departments d. competitors e. suppliers
customers
Companies use _____ to sift through large amounts of big data and dig out interesting findings relevant to creating customer value a. data mining b. data warehouses c. social media d. touch points e. CRM
data mining
Companies use _______ to gather company wide, finely detailed customer and market information and store it in a centralized and accessible location a. social media b. touch points c. CRM d. data warehouses e. data mining
data warehouses
What is one primary purpose of a product's position? a. to get eye level in-store shelf space b. to identify groups of consumers with similar needs c. differentiation d. to gain market share e. to choose which segments to serve with a market offering
differentiation
Which of the following statements regarding the changing marketing landscape is correct? a. global competition only affects marketing in large companies b. digital technology has changed the way we live c. marketers have mastered the use of social media and mobile marketing d. marketing plays no role in the strategies of not-for-profit organizations e. today's post-recession era consumers buy more, use fewer coupons, use their credit cards and save less
digital technology has changed the way we live
In 2005, Proctor and Gamble purchased Gillette, makers of shaving products, and added these to the existing P&G portfolio. Which growth strategy did P&G use in acquiring Gillette? a. market development b. divestment c. diversification d. market penetration e. product development
diversification
Companies such as P&G, Walmart, and Levi Strauss have recognized the growing _____ in the US population by targeting specifically designed products, ads, and promotions to appeal to one or more ethnic, racial, or lifestyle-based groups a. illegal immigration b. income inequality c. number of dual income families d. millennial market e. diversity
diversity
Research has shown five characteristics to be especially important in influencing an innovation's rate of adoption. One of these characteristics, _____, refers to the degree to which the innovation might be tried on a limited basis. a. compatibility b. complexity c. divisibility d. relative advantage e. communicability
divisibility
of the five adopter groups, ______ are most widely regarded to be opinion leaders a. laggards b. late mainstream adopters c. early adopters d. innovators e. early mainstream adopters
early adopters
The macro environment consists of larger societal forces, which include _____. a. media, local, and financial publics b. cultural forces, technology, and customers c. competitors, publics, and customers d. economic, political, and cultural forces e. economic forces, political forces, and competitors
economic, political, and cultural forces
Stimuli in the buyer's environment includes ______. a. brand engagement and relationships b. economic, technological, social, and cultural forces c. the 4 Ps and buying attitudes and preferences d. buyer's characteristics and buyer's decision processes e. the 4 Ps, social factors, and purchase behavior
economic, technological, social, and cultural forces
The primary purpose of a strategic plan is to _____. a. design a business portfolio b. expand into new markets c. enable a firm to take advantage of opportunities in a changing environment d. build profitable customer relationships e. establish market share objectives
enable a firm to take advantage of opportunities in a changing environment
Coors insight teams interact anonymously with bar patrons, supermarket shoppers, restaurant diners, and convenience store clerks to gain authentic insights into how middle American consumers buy, drink, dine, and socialize around Coors and competing brands. This is an example of _______ research a. causal b. experimental c. ethnographic d. descriptive e. brand
ethnographic
Many firms securely share relevant sales, inventory, product development, and marketing information with suppliers and other external partners via its ______. a. CRM system b. intranet c. marketing information system d. extranet e. data warehouse
extranet
You and seven other people are talking with a trained moderator about your feelings an thoughts regarding a potential new product. For doing this, you receive a small payment. You are participating in a(n) _______. a. experiment b. immersion group c. focus group interview d. ethnographic study e. individual interview
focus group interview
Although modern marketing departments can be arranged in several ways, the most common form of marketing organization is the ______ organization, in which different marketing activities are headed by a specialist in any given area. a. value management b. product management c. functional d. market management e. geographic
functional
The first step of the marketing process involves companies working to ______. a. capture value from customers b. improve operational efficiency c. gain a better understanding of their customers d. understanding who their competitors are e. build stronger customer relationships
gain a better understanding of their customers
Social sharing is best described as ______. a. sharing profits with customers b. getting people to talk with others and pass along their positive brand experiences c. getting customers to shop together d. using mobile devices to compare prices e. increasing the number of Facebook "likes"
getting people to talk with others and pass along their positive brand experiences
Which core marketing concept is the key building block to develop and manage customer relationships? a. value and satisfaction b. markets c. profits d. market offerings e. needs, wants, and demands
value and satisfaction
Much of Pinterest's success is due to how it used marketing information to ______. a. increase its profits b. send targeted email to key customers c. understand that its site was not useful to businesses d. identify a unique customer insight e. change the name of its website
identify a unique customer insight
Ford offers a wide variety of cars that range from around $14,000 to over $54,000. This reflects which economic factor? a. consumer spending b. income distribution c. tax rates d. interest rates e. a developing economy
income distribution
Marketing can disrupt the internal value chain and cause conflicts to develop because increasing customer satisfaction can potentially _____. a. coordinate the efforts of different company departments to deliver customer value b. align all functional areas with the goal of increasing customer value c. increase production costs, increase inventories, cause budget headaches and disrupt production schedules d. gain commitment from the entire company to engage customers e. make all departments "think consumer"
increase production costs, increase inventories, cause budget headaches and disrupt production schedules
Which of the following correctly defines the consumer market? a. individuals and households that buy goods and services for personal consumption b. consumers who spend more than $5,000 on goods and services c. consumers and the businesses that sell to them d. manufacturers, resellers, and consumers e. consumers and the resellers who consumers buy their products from
individuals and households that buy goods and services for personal consumption
Which of the following correctly identifies the first two adopter groups that adopt a new product? a. innovators and laggard adopters b. innovators and early adopters c. early mainstream and late mainstream d. late mainstream and laggard adopters e. early adopters and early mainstream
innovators and early adopters
To develop needed information, marketing information systems utilize ______. a. internal databases, big data, and market research b. marketing managers, information users, and internal databases c. internal databases, marketing research, and marketing managers d. internal databases, marketing intelligence, and marketing research e. marketing intelligence, marketing research, and the marketing environment
internal databases, marketing intelligence, and marketing research
According to the text, two major public policy and ethical issues in marketing research are ______. a. international research and intrusions on consumer privacy b. intrusions on consumer privacy and the misuse of research findings c. improper sampling procedures and the misuse of research findings d. intrusions on consumer privacy and unsafe products e. the misuse of research findings and deceptive advertising
intrusions on consumer privacy and the misuse of research findings
As a direct result of the explosion in digital technology, one area that advocates and policy makers are taking action on is _____ a. fair pricing b. unsafe products c. to enforce international trade policies d. truth in advertising e. invasion of privacy
invasion of privacy
Variety-seeking behavior would result from which of the following conditions? a. high involvement and significant differences between brands b. low involvement and few differences between brands c. low involvement and significant differences between brands d. high involvement and few differences between brands e. buyers do not engage in variety seeking behavior
low involvement and significant differences between brands
Significant changes in the age structure of a population is one example of the impact of the firm's _____. a. natural environment b. microenvironment c. macro environment d. political environment e. economic environment
macro environment
A(n) ______ is the set of actual and potential buyers of a product or service. a. exchange b. target market c. customer profile d. supply chain e. market
market
If Apple introduced a marketing strategy designed to encourage new groups - such as seniors - to visit its stores for the first time, this would be an example of a _____ growth strategy a. market development b. market targeting c. product development d. market penetration e. diversification
market development
The Dollar Store an Family Dollar profitably focus on buyers with modest means with their market offerings. This is an example of ______. a. the marketing mix b. market targeting c. marketing control d. positioning e. market segmentation
market targeting
Nike states that is wants to "bring inspiration and innovation to every athlete in the world." This is Nike's _____ a. product-oriented mission statement b. marketing plan c. market-oriented mission statement d. objective e. strategy
market-oriented mission statement
Which of the following is a true statement regarding managing and measuring marketing return on investment (ROI) a. ROI is being used less today because marketing managers are not as accountable for performance as they were in the past b. marketers define ROI as a quantitative measure derived by dividing reutnrs (that is, profits) by the costs of the investments c. marketers increasingly use customer-centered measure of ROIA that include brand awareness, sales, and market share d. one reason ROI is used is because it is easy to measure e. marketers are increasingly using measure such as customer acquisition and retention, customer engagement, and customer equity as measures of ROI
marketers are increasingly using measures such as customer acquisition and retention, customer engagement, and customer equity as measures of ROI
The ______ holds that achieving organizational goals depends on knowing the needs and wants or target markets and delivering the desired satisfactions better than competitors do a. marketing concept b. selling concept c. societal marketing concept d. production concept e. product concept
marketing concept
A ______ consists of people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights a. marketing information system b. data warehouse c. marketing department d. customer insights team e. CRM system
marketing information system
Which one of the following statements about marketing's role in strategic planning is correct? a. marketing does not contribute to profitability b. marketing does not design strategies c. marketing oversees the planning of each business unit d. marketing provides inputs to strategic planners e. marketing is unrelated to a company's guiding philosophy
marketing provides inputs to strategic planners
_____ represents the marketing logic by which the company hopes to create customer value and achieve profitable, mutually beneficial relationships. a. positioning b. strategic planning c. the marketing concept d. market development e. marketing strategy
marketing strategy
Actors close to the firm that affect its ability to serve its customers, such as suppliers, marketing intermediaries, and competitors, are all components of a company's _______. a. natural environment b. technological environment c. economic environment d. macro environment e. microenvironment
microenvironment
The first step of the strategic planning process is to identify the company's _______, an explicit statement that clearly explain the organization's purpose and what is seeks to accomplish a. market penetration strategy b. mission c. target market d. business portfolio e. positioning
mission
Damage caused by the recent earthquake and tsunami in Japan had a devastating effect on the ability of Japanese companies such as Sony and Toyota to meet worldwide demand for their products. This is an example of how the _____ can impact marketing decision making a. natural environment b. economic environment c. microenvironment d. value delivery network e. technological environment
natural environment
Mary is hungry and chooses to go to McDonalds for a salad. Mary's hunger is a _____ and her choice of a salad is a ____. a. need; demand b. want; need c. demand; want d. need; want e. want; demand
need; want
Each company's department can be thought of as a link in the company's internal ______. a. business portfolio b. value chain c. value delivery network d. marketing dashboard e. supply chain
value chain
Which of the following statements about big data is correct? a. analyzing big data is an easy task b. one result of big data is that marketing managers are often overloaded and overwhelmed with information c. analyzing big data always leads to useful customer insights d. big data is important because marketers today need more information to make good decisions e. big data actually refers to very small data sets
one result of big data is that marketing managers are often overloaded and overwhelmed with information
Which of the following statements about online research is correct? a. focus groups are rarely conducted online b. online surveys generally have higher response rates that those conducted by mail or phone c. experiments cannot be conducted online d. online research is feasible only for large companies e. it is more expensive to conduct online research that to do a mail, phone or personal interview
online surveys generally have higher response rates than those conducted by mail or phone
In the United States, patriotism has increased in recent years. marketers have responded with increase use of the "Made in America" appeal and patriotic themes. This reflects which aspect of culture? a. people's view of themselves b. people's view of others c. people's views of organizations d. people's views towards society e. people's views of nature
people's views toward society
Which of the following steps in the strategic planning process is not done at the corporate level? a. planning marketing strategies b. setting company objectives c. setting company goals d. designing the business portfolio e. defining the company mission
planning marketing strategies
A key limitation of BCG and other formal approaches to _____ planning is that they focus on classifying current businesses and provide little advice for future planning a. marketing b. long-range c. portfolio d. strategic e. competitive
portfolio
Ben & Jerry's frequently expand its line of ice cream with new flavors. Which market growth strategy is Ben & Jerry's using? a. market development b. diversification c. market penetration d. product development e. harvesting
product development
Which of the following is an important trend in the natural environment that marketers should be aware of? a. products that require scarce resources facing large cost increases b. the increase of availability of raw materials c. decreased pollution d. lack of consumer concern for the environment e. cost decreases for nonrenewable resources
products that require scarce resources facing large cost increases
One important reason that business legislation is enacted is to _____ a. remove legal regulations from our free market economy b. ensure that companies make profits c. ensure that competition is unregulated d. provide legal guidelines for businesses and marketers without actually enforcing them e. protect consumers from unfair business practices
protect consumers from unfair business practices
One key role marketing plays in a company's strategic planning is to _____. a. focus on the customer while other departments formulate strategies b. provide a guiding philosophy c. work to add customer value so other departments do not have to be concerned with it d. allow other department to not be concerned with marketing e. take advantage of opportunities identified by the strategic planners
provide a guiding philosophy
To deliver real value to marketers, marking information must ____. a. increase the company's profits b. come from big data c. provide useful customer insights d. be obtained inexpensively e. be quantitative
provide useful customer insights
Competitive marketing intelligence uses ______ data sources a. publicly available b. expensive c. competitor's internal d. private e. internal
publicly available
Which of the following would be good advice for someone that is conducting marketing research in a foreign country? a. globalization has slowed down, so international research is no longer necessary b. you can easily find good secondary data in most foreign markets c. reaching respondents in other parts of the world is more difficult than it is in the United States d. language translation will be easy e. consumers in foreign markets generally enjoy participating in marketing research
reaching respondents in other parts of the world is more difficult than it is in the united States
Competition no longer takes place only between individual rivals. Rather, it takes place between the ____ networks created by these competitors. a. value delivery b. advertising c. marketing mix d. brand portfolios e. product management
value delivery
What are the two measures of BCG matrix uses to classify SBUs and products in the portfolio? a. relative market share and return on investment (ROI) b. relative market share and market growth rate c. relative market share and number of products the company produces d. market growth rate and degree of competitiveness e. market growth rate and return on investment (ROI)
relative market share and market growth rate
The process of dividing a broad market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs is known as _____. a. segmentation b. customer profiling c. positioning d. differentiation e. market targeting
segmentation
The first step to a successful value-driven marketing strategy is to determine whom to serve with a market offering. To make this decision, marketers engage in which two activities? a. target and positioning b. segmenting and targeting c. segmenting and demand management d. customer management and demand management e. segmenting and customer management
segmenting and targeting
In the strategic planning process, the business portfolio is designed after ______ a. setting company objectives and goals b. the strategic planning process is completed c. defining the company mission d. planning functional strategies e. planning marketing strategies
setting company objectives and goals
Which of the following statements about market offerings is correct? a. some combination of products, services, information, or experiences b. market offerings are limited to services c. experiences are not a market offering d. market offerings are not related to customers' needs and wants e. market offerings are limited to products
some combination of products, services, information, or experiences
According to the BCG matrix, ______ are high-share, high-growth products. When the market growth slows, these products become ______. a. cash cows; dogs b. question marks; cash cows c. question marks; stars d. cash cows; stars e. stars; cash cows
stars; cash cows
Mobile channels are used by marketers to _____. a. engage in caring capitalism b. encourage social sharing c. stimulate immediate buying, making shopping easier, and enrich the brand experience d. get more "Likes" on Facebook e. increase profits
stimulate immediate buying, make shopping easier, and enrich the brand experience
The ______ model of buyer behavior suggests that marketing and other stimuli enter the consumer's "black box" and produce certain attitudinal behavioral responses a. stimulus-response b. Maslow c. self-actualization d. marketing stimuli e. black-box
stimulus-response
There is little fit between the company's market offerings and the needs of which customer group? (Hint: This group is not profitable and not loyal) a. strangers b. butterflies c. true believers d. barnacles e. true friends
strangers
Disney's MagicBand RFID bracelet enables guests to enter a park or attraction, buy dinner or souvenirs, or even unlock their hotel room with a flick of the wrist. This is an example of how the ______ is impacting customer experiences and marketing decision making a. technological environment b. value delivery network c. microenvironment d. economic environment e. natural environment
technological environment
Which of the following statements is correct regarding the current demographic environment? a. the LGBT community is not an attractive target for marketers b. the US population is rapidly getting older c. the combined size of the millennials and Gen Z has resulted in the US population getting younger d. there are few differences between generational groups e. the ethnic diversity of the US population should remain stable in the years to come
the US population is rapidly getting older
Forces and events in the buyer's environment enter the buyer's black box, where they are turned into a set of buyer responses. These buyer responses include ________. a. the buyer's characteristics and purchase behavior b. the buyer's attitudes and preferences and the buyer's decision process and purchase behavior c. the buyer's attitudes and preferences, purchase behavior, and marketing stimuli d. the buyer's attitudes and preferences, brand engagement and relationships, and purchase behavior e. the buyer's decision process and the buyer's characteristics
the buyer's attitudes and preferences, brand engagement and relationships, and purchase behavior
According to the model of buyer behavior, what are the two parts of a buyer's black box? a. cultural forces and marketing stimuli b. the 4 P's and social forces c. the buyer's attitudes and preferences and the buyer's purchase behavior d. the buyer's characteristics and the buyer's decision process e. purchase behavior and cultural forces
the buyer's characteristics and the buyer's decision process
According to the text, what is the single most important demographic trend in the United States today? a. a better-educated population b. the changing age structure of the population c. geographic population shifts d. increasing diversity e. changes in the American family
the changing age structure of the population
Which of the following statements about competitive marketing intelligence is correct? a. companies should not be concerned about competitors accessing publicly available information about them b. marketing intelligence information is not available from the US gov't c. monitoring a competitor's website is unethical d. the goal of competitive marketing intelligence is to improve strategic decision making e. marketing intermediaries are not good sources of competitive marketing intelligence
the goal of competitive marketing intelligence is to improve strategic decision making
One result of changes in people's views of nature is _____ a. a decline in organizational loyalty b. the increase in mass mingling through online social media c. a renewed interest in spirituality d. marketing teas that appeal to making a person feel well both physically and mentally e. the growth of the lifestyles of health and sustainability (LOHAS) market
the growth of the lifestyles of health and sustainability (LOHAS) market
Regulation arises to ensure that firms take responsibility for the social costs associated with the production and consumption of their products. Therefore, regulation of business is desirable in order to protect _______ a. consumers from unfair business practices b. the interests of society c. shareholders from losses d. companies from each other e. the interests of labor unions and their members
the interests of society
Companies like IBM, Walmart, and Intel now look beyond economic gain and, in their marketing strategies they also consider the well-being of customers, the depletion of natural resources, the viability of suppliers, and the interests of the local community. This reflects which marketing philosophy? a. the societal marketing concept b. the selling concept c. the production concept d. the product concept e. the marketing concept
the societal marketing concept
FedEx offers its customer fast and reliable package delivery. When FedEx customers weigh those benefits against the monetary costs and other costs of using the service, they are acting on _____. a. information in FedEx ads b. customer satisfaction c. perceived customer value d. their relationships to FedEx e. loyalty
their relationships to FedEx
One advantage to using internal databases for information is that ______. a. internal information is accurate and complete b. the information store in internal databases is always current c. they can be accesses quickly and cheaply d. internal information sources are easy to manage e. internal information is in a form that is useful for making marketing decisions
they can be accessed quickly and cheaply
The actual and potential buyers in a market share which of the following characteristics? a. they do not engage in marketing b. they have the same demographic profile c. they share a particular need and or want d. they have little influence over marketers e. they rely on marketers to provide product information
they share a particular need and or want
Assume the economy is in a recession. Mario's custom jewelry is expensive and sales are down. In a situation analysis (SWOT), the state of the economy is a(n) ______ and Mario's pricing structure is a(n) _____. a. threat; weakness b. opportunity; weakness c. threat; strength d. weakness; threat d. weakness; weakness
threat; weakness
Managing the marketing function should begin with a thorough situation analysis of the firm's internal and external environments, including company strengths, weaknesses, opportunities, and ______. a. territories b. HR practices c. threats d. tactics e. rivals
threats
What is the overall purpose of customer insight groups? a. to identify underperforming products b. to monitor social media while other research teams mine big data c. to use information to increase company profits d. to collect information from a narrow range of data sources e. to develop customer insights from which the company can create more value for customers
to develop customer insights from which the company can create more value for customers
Any contact between a customer and a company is called a _______ a. purchase b. satisfaction survey c. service call d. touch point e. sales call
touch point
To create value for customers, marketers must improve the performance of the ______, which includes partnering with suppliers, distributors, and customers. a. competitive delivery network b. internal value chain c. value delivery network d. marketing system e. strategic plan
value delivery network
Following the Great Recession, US consumers have no adopted a back-to-basics sensibility in their lifestyles and spending patterns that will likely persist for years to come. Marketers in all industries, in turn, are looking for ways to offer today's more financially frugal buyers greater value, and approach known as _____. a. differentiated positioning b. market targeting c. value marketing d. customer-oriented strategy e. socially responsible marketing
value marketing
_____ are the form human needs take as they are shaped by culture and individual personality a. services b. wants c. demands d. needs e. offerings
wants
