Marketing Test 1

________ is the degree to which the results of using an innovation can be observed or described to others. A) Relative advantage B) Compatibility C) Complexity D) Divisibility E) Communicability

communicability

A child in the United States is exposed to many values including achievement and success, freedom, individualism, hard work, and material comfort. These are symbolic of American ________. A) subculture B) culture C) society D) perceptions E) expectations

culture

________ outlines sources of existing data as well as specific research approaches, sampling plans, and measurement instruments. A) The research plan B) The data collection plan C) The main research objective D) The problem definition E) The research findings

A

________ are small groups of consumers who interact directly and informally with product designers without a moderator. A) Cross-functional groups B) Ethnographic groups C) Observational groups D) Immersion groups E) Traditional focus groups

Immersion groups

T/F Market offerings include entities such as people, places, information, and ideas.

true

T/f A market is a segment of potential consumers who share a common need or want.

true

T/f The marketing concept is a customer-centered, sense-and-respond philosophy.

true

T/f A brand's value proposition is the set of benefits or values it promises to deliver to consumers to satisfy their needs.

true

t.f The rapid increase in the number of people who telecommute has created a booming small office/home office market in the United States.

true

t/f ) A small increase in consumer demand can cause a large increase in business demand.

true

t/f ) In a straight rebuy, a buyer reorders something without any modifications.

true

t/f A bank that helps a company finance transactions is both a financial intermediary and a financial public.

true

t/f A business marketer normally deals with far fewer buyers than a consumer marketer.

true

t/f A company can assess marketing ROI in terms of standard marketing performance measures, such as brand awareness, sales, or market share.

true

t/f A company can offer greater customer value by either charging lower prices than competitors or offering more benefits to justify higher prices.

true

t/f A company that adopts a reactive marketing stance would most likely view the marketing environment as an uncontrollable element to which it must adapt.

true

t/f A firm's marketing department must partner with other company departments to produce superior value for customers.

true

t/f A role consists of the activities people are expected to perform according to the people around them.

true

t/f An effective MIS assesses information needs, develops needed information, and distributes the information to help managers with decision making.

true

t/f An organization's mission statement should emphasize its intentions toward customers and the customer experience the organization seeks to create.

true

t/f Business-to-business e-procurement lowers purchasing costs and reduces the time between order and delivery.

true

t/f CRM analysts use big data and marketing analytics to unearth patterns in customer data.

true

t/f Companies are adapting their promotional efforts to reflect the changing dynamics of American families.

true

t/f Companies like Coca-Cola and Facebook deliver customer satisfaction by spreading happiness and connecting individuals through shared experiences

true

t/f Customer-perceived value is defined as a customer's evaluation of the perceived difference between all the benefits and all the costs of a market offering relative to those of competing

true

t/f Each population member has a known chance of being included when a probability sampling procedure is used.

true

t/f Firms that develop strategies to change the environment are considered proactive.

true

t/f Government regulations are intended to protect consumers, companies, and societal interests.

true

t/f Ideally, a sample should be representative so that a researcher can make accurate estimates of the thoughts and behaviors of the larger population.

true

t/f In a convenience sample, a researcher selects the easiest population members from whom to obtain information.

true

t/f In reverse auctions, companies put their purchasing requests online and invite suppliers to bid for their business.

true

t/f In the final step of a marketing process, a company reaps the rewards of its strong customer relationships by capturing value from customers.

true

t/f In the marketing mix, product includes the goods and services the company offers to the target market, while promotion includes advertising.

true

t/f In vendor-managed inventory, buyers share sales information directly with key suppliers.

true

t/f Individual interviews cost three to four times as much as telephone interviews.

true

t/f Interpersonal factors are a major influence on business buyer behavior.

true

t/f It's advisable for a company to fit its products into existing attitude patterns rather than attempt to change them.

true

t/f Many companies have dropped formal strategic planning models like the BCG because they can be difficult, time consuming, and costly to implement.

true

t/f Many companies have started to target the LGBT market segment which has significant buying power.

true

t/f Marketers have a better chance of taking advantage of a person's secondary beliefs than his or her core beliefs.

true

t/f Marketers must practice constant marketing control to ensure that objectives are attained.

true

t/f Marketing ROI measures the profits generated by investments in marketing activities.

true

t/f Marketing dashboards are used to monitor strategic marketing performance.

true

t/f Marketing research is the systematic design, collection, analysis, and reporting of data directly relevant to a specific marketing situation facing an organization.

true

t/f Marketing researchers can conduct their own searches of secondary data sources by using commercial online databases.

true

t/f Once the research problems and objectives have been defined, researchers must determine the exact information needed.

true

t/f Organizations that follow the societal marketing concept most likely practice socially and environmentally responsible marketing.

true

t/f Product, price, place, and promotion make up the elements of a firm's marketing mix

true

t/f Reference group influence on consumer buying behavior varies across products and brands.

true

t/f SBUs identified as cash cows need less investment than stars.

true

t/f Selective distortion describes the tendency of people to interpret information in a way that will support what they already believe.

true

t/f Social class is not determined by a single factor, such as income, but is measured as a combination of occupation, income, education, wealth, and other variables.

true

t/f Subcultures are groups of people with shared value systems based on common life experiences and situations.

true

t/f Success at delivering customer value rests on how well a company's entire supply chain performs against competitors' supply chains.

true

t/f The 4As framework takes into consideration the buyer's view of the market.

true

t/f The Federal Trade Commission enforces laws that prevent unfair competition in business.

true

t/f The distribution of income in the United States has created a tiered market.

true

t/f The larger the gap between expectations and performance of a product, the greater a consumer's dissatisfaction.

true

t/f The major advantage of survey research is its flexibility.

true

t/f The product concept holds that consumers will favor products that offer the most in quality, performance, and innovative features.

true

t/f The product-market expansion grid, like the BCG matrix, is used to identify growth opportunities.

true

t/f The purchasing power of a population is part of the demographic environment of a company's macroenvironment.

true

t/f The questionnaire is the most common research instrument.

true

t/f The response rate in mail surveys is often very low.

true

t/f Through consumer-generated marketing, consumers themselves are playing a bigger role in shaping their own brand experiences and those of others.

true

t/f Value marketing has become the watchword for many marketers.

true

t/f Walmart's microenvironment includes suppliers.

true

t/f When managers glean information from their company's accounting and sales records stored in the company computer system, they are using an internal database.

true

t/f advertising agencies that help a company target a certain section of customers are marketing intermediaries.

true

A customer who is both loyal and profitable is referred to as a ________. A) barnacle B) stranger C) true believer D) laggard E) butterfly

true believer

The Amazon Prime program strives to convert casual shoppers into loyal customers. An Amazon Prime customer can be classified as a ________. A) barnacle B) true believer C) stranger D) laggard E) butterfly

true believer

T/f When sellers pay less attention to the specific products they offer and more attention to the benefits and experiences produced by these products, they suffer from marketing myopia.

false

T/f A greater focus on underlying customer needs than on existing customer wants leads to marketing myopia.

false

T/f Most firms begin the strategic planning process by developing detailed marketing and departmental plans that support a company-wide plan.

false

t/f 'At Dodson, we sell shoes" is a market-oriented business definition.

false

t/f A business buyer typically makes the greatest number of decisions in a straight rebuy situation and the fewest in a new-task situation.

false

t/f A company buying a product with modified specifications faces a new-task situation.

false

t/f A company's customer value delivery network does not include members external to the organization.

false

t/f A customer buys a can of Pepsi from a Walmart store. In this scenario, Walmart is a supplier in Pepsi's value delivery network.

false

t/f According to Maslow's theory, safety and social needs must be fulfilled after self-actualization needs.

false

t/f An SBU can be a company division or a product line within a division, but not a single product or brand.

false

t/f At CL Online, we create customer connectivity, anytime, anywhere" is a product-oriented mission statement.

false

t/f Barnacles are customers who are potentially profitable but not loyal.

false

t/f Big data presents marketers with big opportunities.

false

t/f Cause-related marketing techniques are typically unprofitable for businesses, which is why it is a rarely used form of corporate giving.

false

t/f Club marketing programs reward customers who buy frequently or in large amounts.

false

t/f Customer equity is a measure of the past value of a company's customer base.

false

t/f Customer relationship management focuses on retaining existing customers but not on acquiring new customers.

false

t/f Early mainstream adopters are opinion leaders in their communities and adopt new ideas early but carefully.

false

t/f Early mainstream adopters are venturesome and typically try new ideas at some risk.

false

t/f Exploratory research would be used to gather data about the market potential for a new product.

false

t/f Generation X is the least educated group to date.

false

t/f Holiday Inn divided the total customer market into smaller segments and selected the most promising segments. Deciding what position it wants to occupy in these segments is called diversification.

false

t/f In a SWOT analysis, strengths and weaknesses refer to a firm's external environment, while opportunities and threats refer to the internal environment.

false

t/f In markets with few customers and high margins, sellers should try to develop basic relationships rather than full partnerships.

false

t/f In the 4Ps of the marketing mix, promotion refers solely to advertising.

false

t/f In the context of income distribution, the middle class in the United States has grown in size over the past several decades.

false

t/f In the marketing mix, product refers to activities that communicate the merits of a product and persuade target customers to buy it.

false

t/f Internal databases usually are more expensive to use than other market information sources.

false

t/f Many SBUs start out as stars and move into the question mark category if they succeed.

false

t/f Marketing intermediaries supply resources needed by a company to produce its goods and services.

false

t/f Neuromarketing techniques provide easy-to-interpret data that allow researchers to analyze consumer involvement with products.

false

t/f Observational research is the most widely used method of primary data collection

false

t/f People use the same products and services as they progress through each life-cycle stage.

false

t/f People's orientation to their society does not impact their consumption patterns and attitudes toward the marketplace.

false

t/f Personal sources of information normally inform the buyer, but commercial sources legitimize or evaluate products for the buyer.

false

t/f Primary data can usually be obtained more quickly and at a lower cost than secondary data

false

t/f Secondary data consist of information collected for the specific purpose at hand.

false

t/f Since less than ten percent of smartphone owners use their phones for shopping-related activities, mobile marketing is a slow growing digital marketing platform.

false

t/f Stringent product regulations have helped to lower research costs and decrease time between new product ideas and their introduction to the market.

false

t/f The Consumer Product Safety Commission has created complex regulations for testing new drugs before they are sold to the public.

false

t/f The Office Depot Foundation serves its financial publics through a variety of programs.

false

t/f The business buying process tends to be shorter and less formal than the consumer buying process.

false

t/f The buying center consists of key decision makers from both the buying organization and the supplier.

false

t/f The growth rate of a strategic business unit that is classified as a star remains constant over time.

false

t/f The information collected for an internal database is typically complete and in the proper form.

false

t/f The least significant demographic trend in the United States is the changing age structure of the population.

false

t/f The more loyal a firm's profitable customers, the lower its customer equity.

false

t/f The most common form of marketing organization is the product management organization.

false

t/f The most important actors in a company's microenvironment are its competitors.

false

t/f The most important issue facing online researchers in the United States is the lack of a broad cross section of consumers who have access to the Internet.

false

t/f The objective of descriptive research is to gather preliminary information that will help define the problem and form hypotheses.

false

t/f The position of a strategic business unit in the growth-share matrix typically remains constant over time.

false

t/f The primary objective of causal research is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product.

false

t/f The wording and ordering of questions is not an important consideration in survey design.

false

t/f Tom usually buys new devices such as PDAs, DVRs, and MP3 players only after his friends and family start owning these devices. In this case, Tom is an innovator.

false

t/f When a consumer learns about a new product for the first time and makes a decision to try it, the consumer is engaged in the evaluation of alternatives process.

false

t/f Xenon Corp. releases frequent updates to improve its expensive software products. This marketing approach used by the firm is most likely based on the production concept.

false

Which of the following is a social factor that influences consumer buying behavior? A) family B) life-cycle stage C) economic situation D) personality E) occupation

family

Harmon, a nationwide department store, uses checkout scanners to record shoppers' purchases. Which term best describes Harmon's checkout scanners? A) nonprobability sampling tool B) mechanical instrument C) neuromarketing tool D) touch point device E) CRM system

mechanical instrument

Members of which generational group are referred to as echo boomers? A) the Lost Generation B) Generation X C) Generation Z D) the baby boomers E) Millenial

millenial

Which of the following is the most financially strapped generation in the post-recession era? A) Millennial B) Generation X C) Generation Z D) the Lost Generation E) baby boomers

millenial

Technology is a way of life for ________, the largest generational group. A) Generation Z B) Generation X C) baby boomers D) Millennials E) the Lost Generation

millenials

A ________ is purposeful, specifying what an organization wants to accomplish in the larger environment. A) marketing strategy B) marketing objective C) strategic plan D) mission statement E) market portfolio

mission statement

________ marketing is perhaps the fastest-growing marketing platform. A) Online B) Social media C) Mobile D) Web site E) Blog

mobile

A business buyer is considering a change in product specifications, terms, and possibly suppliers. This buying situation is referred to as a(n) ________. A) modified rebuy B) new-task situation C) straight rebuy D) dual distribution channel E) exclusive distribution channel

modified rebuy

Which of the following is most likely a consequence of the Great Recession of 2008 to 2009? A) more free-spending on expensive products B) more demand for credit and debit cards C) more sensible and mindful consumption D) less interest in frugality and value E) less emphasis on sustainable marketing

more sensible and mindful consumption

A baby boomer decides to purchase a BMW to impress others with her success. This illustrates the importance of understanding the role of ________ in the marketing process. A) personality B) motive C) attitude D) learning E) perception

motive

________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert social influence on others. A) Opinion leaders B) Late mainstream adopters C) Strangers D) Barnacles E) Lagging adopters

opinion leaders

In a SWOT analysis, ________ refer to favorable factors or trends in the external environment that a company may be able to exploit to its advantage. A) strengths B) strategies C) threats D) opportunities E) controls

opportunities

Which of the following is considered a major influence on business buyer behavior? A) general need B) organizational factors C) social forces D) demographic criteria E) performance reviews

organizational factors

________ is the process by which people select, organize, and interpret information to form a meaningful picture of the world. A) Retention B) Motivation C) Selective perception D) Perception E) Learning

perception

The most effective sources of information about a product tend to be ________. A) commercial B) public C) experimental D) personal E) paid

personal

________ refers to the unique psychological characteristics that distinguish a person or group. A) Personality B) Lifestyle C) Status D) Attitude E) Role

personality

Which component of the marketing mix refers to the goods-and-services combination a company offers to its target market? A) promotion B) product C) price D) place E) position

product

Under Armour's decision to add athletic shoes to its apparel line in 2006 is an example of a ________ strategy. A) market penetration B) market development C) downsizing D) diversification E) product development

product development

________ means that consumers are likely to remember good points made about a brand they favor and forget the good points made about competing brands. A) Selective retention B) Selective distortion C) Selective attention D) Restraint bias E) Subliminal perception

selective retention

Which of the following needs in Maslow's hierarchy is generally satisfied last? A) physiological B) social C) esteem D) self-actualization E) safety

self-actualization

Which of the following concepts is based on a customer-centered philosophy? A) the product concept B) the marketing concept C) the production concept D) the selling concept E) the distribution concept

the marketing concept

T/F Market offerings are limited to physical products.

false

T/F When backed by buying power, wants become needs.

false

Causal research is used to ________. A) test hypotheses about cause-and-effect relationships B) gather preliminary data to define problems and their underlying causes C) collect information on the demographics of customers D) collect information on the attitudes of consumers E) generate hypotheses about the causes of a marketing problem

A

Governments most likely enact business legislation to ________. A) prevent unfair competition in the market B) allow a single large monopoly in the market C) prevent alternative products from entering the market D) protect the interests of producers rather than society E) dissociate social responsibility from commerce

A

The selling concept holds that ________. A) consumers will not buy enough of a firm's products unless the firm undertakes large-scale persuasion and promotion efforts B) a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests C) consumers will only favor products that are available and highly affordable D) achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do E) consumers will favor products that offer the most in quality, performance, and innovative features

A

The two dimensions the BCG approach uses to evaluate and manage SBUs are ________. A) market growth rate and relative market share B) market growth rate and market penetration C) market growth rate and market development D) relative market share and product development E) relative market share and market penetration

A

Vertigo is an electronics company. According to the BCG matrix, which of the following products of Vertigo would most likely classify as a question mark? A) Blue — a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily B) Electra — a home entertainment system that has a strong market share in a market that is likely to expand in the future C) Jump — an MP3 player that has a high market share in a market that is not expected to grow significantly D) SpinDrive — a car audio system that has a high market share in a market that has been growing constantly E) SoLo — a CD player that has a very low market share in a market that is shrinking rapidly

A

Which of the following is a difference between the marketing concept and the selling concept? A) The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products. B) The marketing concept focuses on customer conquest, whereas the selling concept focuses on targeting the right customers. C) The marketing concept takes an inside-out perspective, whereas the selling concept takes an outside-in perspective. D) The marketing concept is product-centered, whereas the selling concept is production-centered. E) The marketing concept focuses on short-term sales, whereas the selling concept strives to build long-term customer relationships.

A

Which of the following is an example of a local public? A) a community organization that addresses welfare issues in its neighborhood B) a supplier responsible for sourcing most of the raw materials used in production C) a company director who is working to improve the organization's public image D) a bank that helps a company acquire loans E) a federal regulatory agency that monitors business practices

A

Which of the following is most likely a characteristic of Generation Xers? A) They were the first group to grow up in the Internet era. B) They comprise a considerably larger population than the baby boomers. C) They prefer quantity over quality of products. D) They are the least educated generation to date. E) They are generally unreceptive to ad pitches that make fun of tradition.

A

Which of the following is most likely a true statement about people's views about organizations? A) Many people view work at an organization as a required chore. B) People don't expect organizations to carry out society's work. C) Confidence in political organizations has increased in recent years. D) Loyalty towards employers has increased in the past two decades. E) Many people today see organizations as a source of personal satisfaction.

A

Which of the following is most likely true about companies that take a proactive stance toward the marketing environment? A) They develop strategies to change the marketing environment. B) They believe that marketing strategies are bound by the current environment. C) They passively accept the marketing environment in its current state. D) They view the marketing environment as an uncontrollable element. E) They design strategies according to environmental forces in the market.

A

Which of the following is part of the microenvironment of a company's marketing environment? A) a just-in-time inventory system used by the company when making purchase decisions B) a set of laws that require the company to scale down its telemarketing calls to customers C) a changing demographic picture that requires the firm to make product adaptations D) a new technology that would ensure significant cost-cutting if implemented in the firm E) a set of environmental sustainability laws that significantly impact the company's production processes

A

Which of the following is true of survey research? A) It is the most widely used method for gathering primary data. B) It is the most suitable method for establishing causal relationships. C) It is the best method to use when people are unwilling to answer questions. D) It is not suitable for collecting data for descriptive research. E) It is inflexible and cannot be used in many different situations.

A

Which of the following statements about buying centers is true? A) The buying center is not a fixed and formally identified unit within a buying organization. B) Roles in the buying center are specified in the organizational chart of a firm. C) The CEO of an organization is always the decision maker in a buying center. D) An individual's role in a buying center does not change with time. E) All buying centers involve formal participants.

A

Which of the following statements is true in the context of the BCG growth-share matrix? A) Stars often need heavy investment to finance their rapid growth in a market. B) The positions of SBUs in the growth-share matrix rarely change over time. C) The income from one SBU cannot be used to support other business units. D) Dogs promise to be large sources of cash. E) Cash cows typically turn into stars.

A

35) Ethnographic research is ________. A) a standard analysis of publicly available information B) conducted in settings where people live and work C) an approach that provides only secondary data D) most feasible when customers live in distant locations E) used by marketers seeking quantitative data

B

Alice is shopping for a new car, and she has narrowed her decision to a Honda Accord and a Toyota Camry. Both sedans have similar features and prices, but Alice decides to purchase the Honda based on her intuition. Which of the following situations would most likely cause Alice to experience postpurchase dissonance? A) The price of the Honda Accord increases by a huge margin. B) The price of the Toyota Camry falls due to an increase in demand. C) The Honda Accord meets all her expectations and satisfies her needs. D) The Toyota Camry experiences technical failures that lead to a recall. E) The maintenance costs of the Honda Accord decrease significantly over time.

B

Although internal databases can be accessed more quickly and cheaply than other information sources, one of the challenges of internal databases is ________. A) the inability to access B) maintaining the current database C) the lack of sophisticated equipment and technologies D) decision making about data collection software E) putting the customer at the center of all decisions

B

In a straight rebuy, a buyer ________. A) wants to obtain the same product from a lower-priced supplier B) reorders something without any modifications C) considers a product or service for the first time D) needs a modified product to suit new requirements E) finds new ways to add value to the same product

B

In the BCG growth-share matrix, question marks refer to products or businesses with a ________. A) low market share in a niche market B) low market share in a market with high growth prospects C) greater market share than all their competitors combined in a saturated market D) high market share in a market with a high growth rate E) low market share in a market that is set to shrink significantly

B

The boom in online, mobile, and social media has created a new set of social and ethical issues for companies. Their greatest concern involves ________. A) failure to provide value-priced products for online customers B) protecting the privacy of knowing and unknowing customers C) providing too many alternative products online which confuses customers D) rarely following the marketing orientation when devising promotional offers online E) failing to reach their target customers through online marketing

B

ToyBox is a toy manufacturer based in the United Kingdom. Which of the following indicates that the company is following a market penetration strategy? A) It introduces a line of children's clothing in the United Kingdom. B) It acquires toy rights for a popular cartoon character to boost its sales. C) It introduces its toys in the Indian and South-East Asian markets. D) It enters the U.S. market with a line of children's clothing. E) It develops a new line of educational software targeted at the current market.

B

What are the two main types of research instruments used to collect primary data? A) observation scales and personal interviews B) questionnaires and mechanical devices C) focus groups and mechanical devices D) focus groups and questionnaires E) personal interviews and online focus groups

B

Which of the following has resulted from the increased educational levels of the U.S. population? A) lower acceptance of technological changes B) greater job growth for professional workers C) higher number of manufacturing jobs D) lower mobility of the U.S. population E) lower number of women in the workforce

B

Which of the following is most likely a characteristic of firms that adopt a reactive approach toward the marketing environment? A) They develop strategies to change the marketing environment. B) They take advantage of the opportunities provided by the environment. C) They take aggressive actions to affect the marketing environment. D) They view the marketing environment as a controllable element. E) They do not accept the marketing environment as it is.

B

Which of the following is most likely a true statement about generational groups in the United States? A) The Millennials account for nearly half of all discretionary consumer spending in the United States. B) The Generation Xers are the most educated generation to date. C) The baby boomers comprise the poorest segment of the population. D) The Generation Xers form the largest segment of the population. E) The Millennials are the most financially secure generation.

B

Which of the following represents a change in the technological environment of a marketing firm? A) increased use of cause-related marketing B) increased use of RFID systems to track products C) increased need to comply with environmental regulations D) increased use of value marketing techniques and promotions E) increased need to engage in mass marketing over market segmentation

B

BlueBear is a shoe manufacturer based in the United States. Which of the following indicates that the company is following a market development strategy? A) BlueBear introduces a line of children's clothing to its current target market. B) BlueBear employs a British comedian for a U.S. advertising campaign. C) BlueBear introduces its shoes in the Indian and South-East Asian markets. D) BlueBear adds a line of leather purses to its offerings in the U.S. market. E) BlueBear develops a line of athletic shoes for its current target market.

C

Business portfolio analysis is defined as the process in which management ________. A) studies the products and strategies of competitors to improve the company's own products B) analyzes consumer feedback in order to better position the company's brand image C) assesses the attractiveness of an SBU's market and the strength of its position in the market D) segments the company's markets to reach target consumers effectively E) conducts marketing research to evaluate the company's marketing strategy

C

Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy. The CEO stresses that the new mission statement should be market-oriented rather than product-oriented. Which of the following mission statements will best suit the company? A) to create the best possible products and sell them at the best possible prices B) to sell hypoallergenic cosmetics products made only from the finest organic ingredients C) to give customers the complexion they dream about by providing products suited to their needs D) to become a market leader in every cosmetics product category E) to increase our market share in the cosmetics segment and increase profit margins

C

Data collection, processing, and analysis are undertaken during which stage of the marketing research process? A) selecting a sampling method B) interpreting the findings C) implementing the research plan D) drawing conclusions from the findings E) selecting a research approach

C

Greyzone, a company that creates customized household furniture, is based in Terrania and is looking to enter other countries as well. The company identifies the country of Nyevka as a good option because the entry barriers for new companies are low in Nyevka. Which statement indicates that Greyzone follows a diversification strategy? A) Greyzone does not modify its products for the Nyevkan market. B) Greyzone leaves the Terranian market entirely in order to establish itself in the Nyevkan market with its current products. C) Noting that Nyevka lacks well-established suppliers of office equipment, Greyzone begins to manufacture and supply office equipment. D) Greyzone manufactures furniture in Terrania and ships it to Nyevka without setting up outlets in Nyevka. E) Noting that production costs are lower in Nyevka, Greyzone shifts its production operations entirely to Nyevka.

C

Hammond Corp. operates in the highly aggressive electronics market. The firm aims to obtain early warnings of opportunities and threats caused by the actions of other firms that are doing well in the industry. Which of the following sources would best serve Hammond's purpose? A) sales data from exclusive Hammond retailers B) archival data on company performance C) competitive marketing intelligence D) research on demographics of its existing customers E) internal survey on employee performance

C

Omni Healthcare's analgesic drug Cetaprin has a 40% share in the analgesics market in the country of Terrania. Its closest competitor, Febex, has a 25% share in the market, while four other analgesic brands split the remainder. Which statement indicates that Cetaprin is a cash cow according to the BCG matrix? A) Omni Healthcare often takes money from other strategic business units to support Cetaprin. B) A customer survey shows that Cetaprin users do not prefer it to other analgesics in the market. C) The demand for analgesic drugs in the Terrania market is expected to remain stable. D) Febex is rapidly gaining market share over Cetaprin due to aggressive marketing efforts. E) The Terrania market for healthcare products is expanding rapidly.

C

The 4Ps model has been challenged because it omits or underemphasizes important activities such as services. It's also been criticized for taking a seller's, rather than a buyer's, viewpoint. The more recent 4As framework complements the traditional model and includes ________. A) adaptability, affordability, availability and awareness B) adaptability, affordability, accessibility and awareness C) acceptability, affordability, accessibility and awareness D) acceptability, affordability, accessibility and aptitude E) adaptability, affordability, availability and aptitude

C

The marketing manager of Appeal Inc. has noticed a sharp decrease in sales over the last two months. The manager decides to conduct marketing research to identify potential causes for the drop in sales. Which of the following should the manager do first? A) develop a research plan B) determine a research approach C) define the problem and objectives D) select a research agency to collect data E) conduct exploratory and descriptive research

C

The migration trend towards micropolitan and suburban areas has caused a shift in where people work. This has resulted in a rapid increase in the number of people who ________. A) commute B) leave the workforce C) telecommute D) work part-time E) purchase second residences

C

Vincent Cosmetics decides to launch a cream with a claim that it makes skin "nine times smoother." The claim is based on a study of 30 respondents who used products of other brands as well. However, a second study on a larger sample reveals only a mild correlation between the use of the cream and smoother skin. In these circumstances, which of the following is the most ethical approach that Vincent Cosmetics can follow? A) It should market the product as planned with the promotional line of "nine times smoother." B) It should modify the results of the study to depict a strong correlation. C) It should report the result as it is, or improve the product to match its claim. D) It can continue to claim a high correlation and add a tag line saying "results may vary." E) It should feature a testimonial from a satisfied user in an advertisement to support its claim.

C

Both product development strategies and diversification strategies involve ________. A) selling a company's current products B) selling in a company's current market C) selling in new as well as existing markets D) developing a new product E) leaving the current market

D

When a company chooses to divest a particular strategic business unit, it ________. A) increases the advertising budget for that strategic business unit B) invests more in the strategic business unit to build its market share C) sells off or phases out the strategic business unit D) invests just enough in the strategic business unit to keep its market share at the current level E) gradually increases investment in the strategic business unit over time to maximize profits

C

Which of the following companies is using a divesting strategy? A) Juggernaut Bikes acquires new businesses in order to increase its market share. B) To achieve a higher market share, LBD Inc. increases investments in advertising and promotion. C) When sales of its clothing division decline, Blackstone sells the division to a competitor. D) Getix Computers increases the price of its products in order to maximize short-term profits. E) Harlow's market share remains steady over two years, and the firm decides to maintain its share at the current level.

C

Which of the following is an example of consumer-generated marketing? A) Cristal, a jewelry store, uses its page on Facebook to provide information about its upcoming products to its customers. B) Figa, a leading provider of athletic shoes, helps its customers customize their shoes on its Web site and choose personalized settings. C) Fun & Run, a local amusement park, promotes its services by allowing consumers to upload videos and write reviews about the park. D) Barton's, a local pet supply store, rewards frequent buyers with vouchers and exclusive offers. E) Energix, a manufacturer of soft drinks, attracts customers through televised advertisements.

C

Which of the following is most likely a true statement about social class? A) Members of a social class vary drastically in their values, interests, and behaviors. B) In the United States, the lines between social classes are fixed and rigid. C) Social classes show distinct product preferences in areas such as clothing. D) Wealth is a more important variable than education in measuring social class. E) Consumers of the same age belong to the same social class.

C

Which of the following is most likely categorized as a business market? A) government agencies that buy goods and services to produce public services B) individuals who buy goods and services for personal consumption C) firms that buy goods and services for further processing D) firms that buy goods and services to resell for profit E) retail outlets that buy goods and services to sell at discounted prices

C

Which of the following is part of the microenvironment of a firm's marketing environment? A) the political state of the country in which the firm exists B) the cultural forces that exist in a society C) the suppliers who work with the company D) the technological resources available to the company E) the different demographic trends in the market

C

Which of the following is true of a good marketing information system? A) It focuses solely on maximizing the amount of data generated irrespective of relevance. B) It typically uses only external sources of data in marketing research. C) It balances the information that a firm would like to have against what they really need. D) It develops a way of offering information about future plans of action that might not be very feasible or cost-effective. E) It eliminates the time-consuming task of assessing the information needs of a firm.

C

Which of the following products would the electronics company CypressSound classify as a cash cow in its BCG matrix? A) Cyan — a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily B) Boosh — a home entertainment system that has a strong market share in a market that is likely to expand in the future C) Xpress — an MP3 player that has a high market share in a market that is not expected to grow significantly D) AutoPlay — a car audio system that has a high market share in a market that has been growing constantly E) Unipress — a CD player that has a very low market share in a market that is shrinking rapidly

C

Which of the following sources constitutes the internal database of a company? A) commercial online databases B) conversations on social media C) the company's sales records D) reports sold by market research firms E) the Web

C

________ is often the most difficult but most critical step in the research process. A) Developing the research plan B) Collecting and analyzing the data C) Defining the problem and research objectives D) Interpreting the findings E) Gathering secondary data

C

________ is the final step in the marketing research process. A) Developing the research plan B) Determining a research approach C) Interpreting and reporting the findings D) Engaging in secondary research E) Collecting and analyzing the data

C

A firm has a huge amount of individual customer data saved in different databases. Which of the following can be used to integrate, analyze, and apply the available information effectively? A) online market research tools B) integrated marketing systems C) CRM systems D) internal survey methods E) quality assurance tools

CRM systems

A major advantage of a mail survey is that it ________. A) provides significant flexibility B) offers strong sample control C) generates high response rates D) eliminates interviewer bias E) can be completed quickly

D

Ainsworth is a toy manufacturer based in Australia. Which of the following most likely indicates that Ainsworth is following a diversification strategy? A) Ainsworth increases its spending on advertising and promotion. B) Ainsworth acquires the rights to manufacture toys resembling a popular cartoon character. C) Ainsworth introduces its toys in the Indian and South-East Asian markets. D) Ainsworth enters the U.S. market with a line of children's clothing. E) Ainsworth develops a new line of educational toys targeting its current market.

D

Brooke's Boutique plans to launch a new clothing line. For this purpose, the firm first conducts a survey to understand its target audience and identify the demographics of potential buyers. It then conducts experimental research to test whether customers associate discounted prices with lower product quality. Which types of research has the boutique employed in this case? A) exploratory followed by causal B) exploratory followed by descriptive C) descriptive followed by exploratory D) descriptive followed by causal E) causal followed by descriptive

D

Large companies like P&G, Walmart, and Allstate have designed specialty products and promotions to target a previously untapped market that has grown substantially in recent years. They are appealing to ________. A) the Millenial generation B) the Asian American market C) the African American market D) the LGBT community E) the Hispanic market

D

Reseller markets consist of ________. A) government agencies that buy goods and services to produce public services B) individuals who buy goods and services for personal consumption C) firms that buy goods and services to assemble overseas D) firms that buy goods and services to sell at a profit E) firms that buy goods and services for further processing

D

The initial function of a marketing information system is ________. A) generating insights from market consumption patterns B) analyzing the results of marketing research studies C) evaluating information from internal and external sources D) assessing the information needs of a company E) hiring research firms to conduct market research

D

When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________. A) pushing one-way commercials at customers B) identifying and targeting late adopters C) developing print and radio advertisements D) generating person-to-person brand conversations E) withdrawing from online social networks

D

Which of the following are examples of internal publics of a company? A) newspapers, magazines, television stations, blogs, and other Internet media B) governmental departments and agencies that regulate businesses C) neighborhood residents and community organizations D) the managers, board of directors, and workers of the company E) the general public that is directly affected by the company

D

Which of the following best describes a company's business portfolio? A) the list of all the marketing activities in which the company invests B) the target segments of the company's various businesses C) the company's products or services in a particular market D) the collection of businesses and products that make up the company E) the company's strengths in terms of technology, people, and products

D

Which of the following demonstrates the real value of a company's marketing research and information system? A) the amount of data it generates B) the variety of contact methods it uses C) the tools it uses to gather information D) the quality of customer insights it provides E) the type of sampling plan it follows

D

Which of the following illustrates the changing composition of the American family? A) the number of same-sex couples raising children has decreased B) the number of married couples with children under 18 is climbing C) fewer people are divorcing or separating D) an increase in the number of non-family households E) a decrease in the number of same-sex couples

D

Which of the following is an advantage of primary data? A) They are less expensive to obtain than secondary data. B) They can be obtained more quickly than secondary data. C) They can be accessed from existing information. D) They are more relevant than secondary data. E) They are more reflective of past problems.

D

Which of the following is most likely a characteristic of the Millennial generation? A) They have very little knowledge of using digital media. B) They are a smaller population than Generation X. C) They are the wealthiest generation in the United States to date. D) They are more likely to engage with brands using mobile or social media. E) They typically avoid using technology while buying products.

D

Which of the following is most likely a true statement about diversity in the United States? A) Most ethnic groups are shedding their ethnic culture and shifting toward a unified American culture. B) Asian Americans constitute the largest ethnic group in the United States. C) Ethnic and cultural differences exist since different ethnic groups remain isolated from one another. D) Various ethnic groups mix together but also retain their cultural differences. E) The nation's ethnic populations are set to decrease in coming decades.

D

Which of the following is true about customer relationship management (CRM)? A) It eliminates the need for primary research. B) It minimizes the need for costly marketing analytics. C) It relies on the use of exploratory and causal research. D) It consists of sophisticated software and analytical tools. E) It excludes data on existing customers to focus on potential customers.

D

Which of the following is true of competitive marketing intelligence? A) It can predict a firm's future but not the pattern of forces in the market. B) It cannot be collected from internal sources of a firm such as employees and the sales force. C) It requires inside information from a competitors' internal database. D) It can be obtained from information that is available in the public domain. E) It can be obtained from online databases only through subscription and a fee.

D

Which of the following is true of strategic planning in a firm? A) It deals with maintaining the company's current business ventures. B) It focuses on the firm's internal environment rather than the external environment. C) It occurs at the business-unit, product, and market levels rather than at the corporate level. D) It deals with adapting the firm to take advantage of changing marketing opportunities. E) It involves preparing short-term investment objectives at the product level

D

Which of the following statements about international marketing research is true? A) International marketing research has declined over the past decade due to global economic decline. B) Conducting personal interviews in developing countries is generally less difficult and less expensive than doing so in developed nations. C) International researchers follow a different set of steps in marketing research than domestic researchers. D) Language translation in international marketing research typically increases costs and raises the risk of errors. E) International researchers benefit from useful secondary data that is available online, so primary data is typically unnecessary.

D

Which of the following statements regarding marketing intelligence is true? A) Marketing intelligence typically involves sensitive and confidential information kept out of the public domain. B) The advantage of using competitive intelligence is negligible as it is based only on internal sources of data. C) All marketing intelligence inputs are available at no cost to any potential users. D) Marketing intelligence is the systematic collection, monitoring, and analysis of publicly available information. E) Marketing intelligence efforts are more focused on gaining insights into a firm's consumers rather than its competitors.

D

Which of the following would most likely use informal research methods to obtain marketing insights? A) multinational firms B) pharmaceutical firms C) brick-and-mortar companies D) not-for-profit organizations E) family-owned businesses

D

A marketing intermediary would most likely help a firm by ________. A) negotiating with labor unions regarding wages, hours, and benefits B) providing technical expertise on the production and design of goods C) competing directly with the firm in a certain product category D) supplying the raw materials needed for manufacturing the firm's products E) moving the firm's goods from production points to distribution centers

E

According to Sigmund Freud's theory, a person's buying decisions are ________. A) easily revealed through online marketing surveys and questionnaires B) affected by motives that the person is completely aware of C) always driven by the need for status and independence D) motivated by needs that are arranged in a hierarchy E) affected by subconscious, hidden motivations

E

In a SWOT analysis, which of the following would be considered a weakness of a company? A) an unfavorable economic climate that discourages consumption B) the exit of a competitor from the market C) inflation that leads to higher prices of the company's products D) falling consumer interest in its products E) obsolete technologies used by the company

E

In a SWOT analysis, which of the following would most likely be considered a strength of a company? A) a favorable economic climate that encourages consumption B) the exit of a competitor from the market C) higher prices of the company's products resulting from inflation D) an increase in consumer interest in the company's products E) an improvement in the company's production technology

E

Recyclable or biodegradable packaging, recycled materials and components, and better pollution controls are ways that marketers have responded to the ________. A) increased need to comply with environmental regulations B) pollution reduction movement C) new recycling laws D) new government intervention program E) environmental sustainability movement

E

The most common research instrument, whether administered in person, by phone, by e-mail, or online, is the ________. A) mechanical device B) personal interview C) questionnaire D) telephone interview E) focus group

E

Which of the following best describes a marketing department with a functional organization? A) A company creates large teams, or even whole divisions, to serve domestic and international markets. B) Marketing managers are responsible for developing marketing strategies and plans for their specific markets or customers, and the company is organized around the needs of specific customer segments. C) A product manager develops and implements a complete strategy and marketing program for a specific product or brand. D) Sales and marketing people are assigned to specific countries, regions, and districts. E) Different marketing activities are headed by specialists such as sales managers, advertising managers, marketing research managers, and customer service managers.

E

Which of the following is a geographic shift that has been observed in the United States in recent times? A) fewer Americans moving to Sunbelt states B) fewer Americans moving to the South C) more Americans moving to the Midwest D) more Americans moving to densely populated cities E) more Americans moving to micropolitan areas

E

Which of the following is most likely a true statement about baby boomers? A) They are the first generation to have grown up with computers. B) They constitute the largest demographic group in the United States. C) They were born between 1965 and 1976. D) They are the most educated generation of Americans. E) They are the wealthiest generation in U.S. history.

E

Which of the following is most likely true about business legislation? A) Business laws are enforced only in international markets and not in local markets. B) Business laws fail to prevent unfair competition among the different companies in a market and tend to encourage monopolies. C) Business laws usually remain constant over time. D) Local, national, and state business laws rarely overlap with one another. E) Business laws that are enforced by government agencies have a major impact on a company's marketing performance.

E

Which of the following is most likely true about people's beliefs and values? A) Belief in marriage is a secondary belief for most Americans. B) Secondary beliefs and values cannot be changed. C) Marketers have a high chance of changing core beliefs and values. D) Secondary beliefs are passed on from parents to children. E) Core beliefs and values have a high degree of persistence.

E

Which of the following is true of focus group discussions? A) They usually employ large samples. B) Consumers' facial expressions are hidden. C) Results can be easily generalized to an entire population. D) The quantitative data can be evaluated quickly and economically. E) Consumers are not always honest and open about their opinions.

E

Which of the following is true of marketing ROI? A) Marketing ROI uses only those marketing factors that can be measured in dollars. B) Marketing ROI ignores customer-centered measures of marketing impact, such as customer acquisition and retention. C) Marketing ROI is easier to calculate than financial ROI. D) Marketing ROI cannot be assessed in terms of standard marketing performance measures, such as brand awareness, sales, or market share. E) Marketing ROI measures the profits generated by investments in marketing activities.

E

Which generational group is characterized as the most educated and the least materialistic? A) baby boomer B) Generation X C) Millennial D) Generation Z E) Lost Generation

Generation X

Which generational group consists of the kid, teen, and tween markets? A) Generation Y B) Millenial C) Generation Z D) Generation X E) Lost Generation

Generation Z

Which generational group is most comfortable using digital technologies? A) Millennial B) Zoomer C) Generation X D) Generation Z E) Lost Generation

Generation Z

Erica Jenson has a limited budget to conduct market research. Which of the following research approaches would provide Erica with the most cost-effective way to reach a large number of respondents in a short period? A) telephone surveys B) personal interviews C) Internet-based surveys D) mail surveys E) focus group interviews

Internet-based surveys

Mail surveys have many disadvantages so many marketers have switched to ________. A) telephone surveys B) Internet-based surveys C) group interviews D) personal surveys E) individual interviews

Internet-based surveys

Sample size and location have little impact on costs for ________. A) focus group interviews B) personal interviews C) mail surveys D) Internet-based surveys E) telephone surveys

Internet-based surveys

Which of the following has the primary function of helping a company target and promote its products to the right markets? A) Marketing services agencies B) Resale marketers C) Service providers D) Physical distribution firms E) Credit companies

Marketing Services agencies

________ are defined as states of felt deprivation. A) Needs B) Ideas C) Demands D) Values E) Exchanges

Needs

________ refers to working closely with people inside and outside the company to jointly bring more value to customers. A) Demand management B) Customer-generated marketing C) Integrated communication D) Partner relationship management E) Channel value proposition

Partner relationship management

________ are distribution channel firms that help a company find customers or make sales to them. A) Resellers B) Suppliers C) Producers D) Logistics firms E) Credit companies

Resellers

Managing the marketing function begins with a complete analysis of the company's situation. A thorough ________ is typically undertaken to guide decision making. A) situation analysis B) internal assessment C) industry overview D) SWOT analysis E) portfolio analysis

SWOT analysis

T/F Marketing is primarily concerned with engaging customers and secondarily with managing profitable customer relationships.

false

American Honda purchases over $20 billion worth of auto parts and materials every year. ________ are key players in the company's success. A) Wholesalers B) Suppliers C) Physical distribution firms D) Media firms E) Retailers

Suppliers

________ marketing is defined as socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs. A) Customer-driven B) Mass C) Sustainable D) Customer-driving E) Ambush

Sustainable

The societal marketing concept holds that ________. A) consumers will not buy enough of a firm's products unless the firm undertakes a large-scale selling and promotion effort B) a company's marketing decisions should focus on creating economic value in a way that also creates value for the surrounding environment C) the society will only favor products that are available and highly affordable D) achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do E) consumers will favor products that offer the most in quality, performance, and innovative features

a company's marketing decisions should focus on creating economic value in a way that also creates value for the surrounding environment

Suppliers and resellers can update their accounts, arrange purchases, and check orders against inventories through ________. A) a company's extranet B) a company's intranet C) marketing intelligence D) electronic mail E) search engines

a companys extranet

________ is best suited for descriptive research. A) An online discussion B) Ethnographic research C) Netnography research D) A survey E) A focus group

a survey

Which of the following best describes product positioning? A) differentiating a market offering to create superior customer value B) arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers C) identifying consumer needs and creating a product to meet those needs D) evaluating each market segment's attractiveness and selecting one or more segments to enter E) dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors

arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

________ are the most affluent and brand conscious demographic segment in the United States. A) Hispanic Americans B) Native Americans C) Pacific Islanders D) Asian Americans E) African Americans

asian americans

A(n) ________ describes a person's relatively consistent evaluations, feelings, and tendencies toward an object or idea. A) role B) cue C) drive D) attitude E) motive

attitude

Companies that practice marketing by ________ create offerings and messages that engage consumers rather than interrupt them. A) intrusion B) attraction C) competition D) forceful persuasion E) impersonal selling

attraction

Which of the following sources of product information can marketers control completely? A) public B) personal C) commercial D) experimental E) experiential

commercial

Secure is a financial services and insurance company. The company's most profitable division is one that sells the Secure Future Plan. The Secure Future Plan targets customers who are entering retirement and want long-term savings so they can remain financially independent in the later years of their life. The marketing team at Secure has most likely targeted the plan at ________. A) Millennials B) baby boomers C) Generation Xers D) Generation Zers E) the Lost Generation

baby boomers

To which of the following generational groups do zoomers belong? A) Millennial B) Generation X C) Generation Z D) Lost Generation E) baby boomer

baby boomer

Which of the following generational groups account for a third of the U.S. population but half of all consumer spending? A) Millennial B) Generation X C) Generation Z D) baby boomer E) Lost Generation

baby boomer

Carla, a team leader in charge of customer relationship management, is planning strategies to improve the profitability of her firm's least profitable but loyal customers. She is also examining methods for "firing" customers in this group who cannot be made profitable. To which of the following customer relationship groups do these customers belong? A) butterflies B) true friends C) strangers D) barnacles E) innovators

barnacles

Procter & Gamble's Tide detergent does not phone or call on all of its consumers to get to know them personally. Instead, Tide creates engagement and relationships through brand-building advertising, Web sites, and social media presence. Which of the following types of associations would be most profitable for the firm to develop with these customers? A) full partnerships B) basic relationships C) joint ventures D) strategic alliances E) business partnering

basic relationships

A practice called ________ allows marketers to use online data to target ads and offers to specific customers. A) online listening B) behavioral targeting C) social media tracking D) data analytics E) online targeting

behavioral targeting

Mattel's American Girl Doll creates special ________ between the dolls and the girls who adore them. A) service offerings B) benefits C) wants D) values E) brand experiences

brand experiences

Which of the following terms is used to describe a specific mix of human traits that may be attributed to a particular brand? A) brand perception B) brand architecture C) brand personality D) brand loyalty E) brand equity

brand personality

Dextora Technologies manufactures microprocessors and caters exclusively to private manufacturers that produce high-end computers. Which type of market does Dextora directly target? A) retail market B) government market C) consumer market D) business market E) reseller market

business market

Efforts to convert ________ into loyal customers are rarely successful. A) barnacles B) strangers C) true believers D) laggards E) butterflies

butterflies

A consumer who is potentially profitable but not loyal to a firm's offerings is referred to as a ________. A) true friend B) butterfly C) stranger D) barnacle E) true believer

butterfly

________ involves enlisting or even creating opinion leaders to serve as brand ambassadors who spread the word about a company's products. A) Social marketing B) Traditional marketing C) Buzz marketing D) Direct marketing E) Values marketing

buzz marketing

Stew Leonard's has created what has been the "Disneyland of Dairy Stores," complete with costumed characters, scheduled entertainment, and a petting zoo. It's built 30 additions onto the original store, which now serves more than 300,000 customers each week. This legion of loyal shoppers is largely a result of the store's passionate approach to customer service. Instead of focusing on individual transactions, Stew and his staff are putting a priority on ________. A) decreasing customer-perceived value B) managing partner relationships C) attracting "butterflies" D) converting "strangers" into "butterflies" E) capturing customer lifetime value

capturing customer lifetime value

The final step in the marketing process is ________. A) capturing value from customers B) constructing an integrated marketing program C) building profitable relationships with the customers D) understanding the marketplace E) designing a customer-driven marketing strategy

capturing value from customers

In the BCG matrix, ________ refer to low-growth, high-share businesses or products. A) stars B) cash cows C) question marks D) dogs E) heroes

cash cows

Experimental research is best suited for gathering ________ information. A) exploratory B) causal C) ethnographic D) interactive E) descriptive

causal

Vernon Inc. would like to set the best price for a new product. The firm conducts an experimental study by selling the new product at two different prices in two different locations keeping other factors constant to see if a lower price results in better sales. This is most likely an example of ________ research. A) exploratory B) descriptive C) causal D) focus group E) ethnographic

causal

P&G "Tide Loads of Hope" program provides mobile laundromats and loads of clean laundry to families in disaster-stricken areas. This is an example of ________ marketing. A) social B) environmental C) ethical D) cause-related E) charitable

cause-related

Ursa Martin, a book publisher, has decided to work with Hope in Children, a charity foundation that helps feed and educate children in poor countries. Ursa Martin has decided that a percentage of revenue from every book it sells will go to the charity. The books are marketed by conveying this message to customers. Which of the following marketing techniques describes Ursa Martin's association with Hope in Children? A) joint venture marketing B) cause-related marketing C) niche marketing D) green marketing E) test marketing

cause-related marketing

A consumer advocacy group challenges a firm's decision to build a new warehouse in a small community. The advocacy group is an example of a ________ public. A) financial B) government C) media D) local E) citizen-action

citizen-action

Kelstone Developers is planning to build a new shopping mall that would require the partial acquisition of a nearby public park. Walking Green, an environmental group, challenges the plan citing environmental destruction. In response to the demands of Walking Green, Kelstone Developers promises to build a huge park-like walkway around the mall. Walking Green is an example of a(n) ________ in this scenario. A) financial public B) government public C) citizen-action public D) internal public E) media public

citizen-action republic

Customer-driven marketing is most effective when ________. A) a clear need exists among customers, but the need is difficult to identify B) customers do not know what they want but are easily persuaded C) customers seek new products and technological innovations D) clear needs exist and customers know what they want E) customers have wants but cannot afford them

clear needs exist and customers know what they want

Apple encourages customers to form local Apple user groups. This is an example of a ________. A) business partnership program B) joint venture C) club marketing program D) consumer-generated marketing program E) strategic alliance

club marketing program

________ is a discomfort caused by postpurchase conflict. A) Selective retention B) Cognitive dissonance C) Selective attention D) Restraint bias E) Subliminal perception

cognitive dissonance

GE operates a company trading site where it posts purchasing needs, invites bids, negotiates terms, and places orders. This is an example of a(n) ________. A) company buying site B) intranet link C) search engine D) trading exchange E) reverse auction

company buying site

________ is the degree to which an innovation fits the values and experiences of potential consumers. A) Relative advantage B) Divisibility C) Complexity D) Compatibility E) Communicability

compatability

Which of the following is not considered a source of competitive intelligence? A) a company's sales force B) suppliers and resellers C) competitors' internal databases D) key customers E) online databases

competitors internal databases

Electric cars are not considerably different or difficult to drive relative to gas-powered cars. However, this is not aligned with the perceptions or conceptual concerns held by the public about the new technology. This will likely slow the adoption rate due to the ________ of the innovation. A) relative advantage B) compatibility C) complexity D) divisibility E) communicability

complexity

________ markets consist of individuals and households that buy goods and services for personal use. A) Consumer B) Business C) Government D) Wholesaler E) Retailer

consumer

Marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on ________. A) consumers' brand experiences B) competitors' threats C) consumers' existing wants D) competitors' strengths E) consumers' future demands

consumer's existing wants

For the past nine years, PepsiCo's Doritos brand has held a "Crash the Super Bowl" contest in which it invites 30-second ads from consumers and runs the best ones during the game. This is an example of ________. A) consumer-generated marketing B) frequency marketing C) customer-club marketing D) sustainable marketing E) multi-level marketing

consumer-generated marketing

The McDonald's corporate brand name and golden arches can be classified as ________ that may potentially stimulate an individual's attention and decision about whether or not to dine at the restaurant. A) cues B) drives C) motives D) needs E) attitudes

cues

Ritz-Carlton is fervently dedicated to anticipating customers' slightest needs. Without ever asking, they seem to know when customers want a king-size bed, non-allergenic pillow, extra body gel or the blinds open upon arrival. An amazing 95 percent of departing guests report that their stay has been a truly memorable experience. This is an example of ________. A) customer delight B) customer lifetime value C) customer equity D) customer share E) customer-perceived value

customer delight

________ is the total combined customer lifetime values of all the company's current and potential customers. A) Share of customer B) Value proposition C) Customer equity D) Market share E) Customer-perceived value

customer equity

The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is referred to as ________. A) perceived-value management B) societal marketing C) customer relationship management D) partner relationship management E) enterprise resource planning

customer relationship management

________ companies research customers deeply to learn about their desires, gather new product ideas, and test product improvements. A) Production-oriented B) Customer-driving C) Customer-driven D) Functional E) Societal

customer-driven

Cylog, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by Cylog? A) the selling concept B) customer-driving marketing C) the product concept D) sustainable marketing E) the production concept

customer-driving marketing

Which of the following terms refers to a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers? A) customer-perceived value B) customer equity C) share of customer D) customer profitability E) customer lifetime value

customer-perceived value

According to the text, ________ are the most important actors in a company's microenvironment. A) stockholders B) employees C) suppliers D) resellers E) customers

customers

In which of the following stages of the adoption process does a consumer consider whether trying a new product makes sense? A) interest B) adoption C) evaluation D) awareness E) trial

evaluation

Which of the following is a commercial source of product information? A) acquaintances B) family and friends C) dealer Web sites D) consumer rating organizations E) Internet searches

dealer web sites

Due to the limitations of the BCG and other formal portfolio planning models, many companies are placing responsibility for strategic planning in the hands of cross-functional teams of divisional managers who are close to their markets. In such organizations, strategic planning is ________. A) centralized B) decentralized C) purposeful D) limited E) informal

decentralized

Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a ________. A) need B) value C) demand D) market offering E) desire

demand

________ is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics. A) Sociobiology B) Demography C) Behavioral ecology D) Environmental studies E) Political science

demography

Corning produces Gorilla Glass screens that are used in the production of laptops, tablets, and smartphones. Corning promotes its product to final consumers to increase business demand for digital devices made with the specialized, toughened glass. This illustrates ________. A) types of decisions B) derived demand C) market structure D) the decision process E) nature of the buying unit

derived demand

Coolers Inc. has decided to launch a new energy drink that will have the fewest calories among its competitors. To understand the market potential for the new drink and the demographics and attitudes of consumers who are likely to buy the product, Coolers should most likely use ________. A) exploratory research B) archival research C) causal research D) experimental research E) descriptive research

descriptive research

Which of the following will most likely be included in the "price" component of a company's marketing mix? A) packaging B) sales promotion C) brand name D) inventory E) discounts

discounts

A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets is called ________. A) vertical integration B) market development C) diversification D) market penetration E) product development

diversification

Under Armour's recent expansion into the digital personal health and fitness tracking market through acquisitions of three fitness app companies is a ________ strategy. A) market penetration B) market development C) downsizing D) diversification E) product development

diversification

Which of the following best describes market segmentation? A) differentiating a market offering to create superior customer value B) identifying consumer needs and creating a product to meet those needs C) arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers D) evaluating each market segment's attractiveness and selecting one or more segments to enter E) dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors

dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors

________ is the degree to which an innovation may be tried on a limited basis. A) Divisibility B) Compatibility C) Communicability D) Relative advantage E) Complexity

divisibility

According to the BCG matrix, products or businesses with a low share of market in a high-growth industry are considered ________. A) dogs B) cash cows C) black holes D) stars E) question marks

dogs

________ refers to reducing the business portfolio by abandoning products that no longer fit the company's overall strategy. A) Market segmentation B) Vertical integration C) Product line extension D) Downsizing E) Diversification

downsizing

A(n) ________ becomes a motive when it is directed toward a particular stimulus object. A) cue B) drive C) response D) belief E) attitude

drive

Fred's faith in Asics, his favorite brand of running shoes, makes him consider other offerings introduced by Asics. Fred is not a risk-taker, and he tends to evaluate each new product carefully before adopting it. Fred is an opinion leader in his social networking community and best described as a(n) ________. A) lagging adopter B) innovator C) early adopter D) early mainstream adopter E) late mainstream adopter

early adopter

Changes in variables, such as income, cost of living, interest rates, and savings and borrowing patterns most likely reflect changes in the ________ environment of a company. A) economic B) natural C) demographic D) political E) cultural

economic

A marketing firm has been assigned the task of watching trends in spending, personal income, savings, and interest rates. The marketing firm is most likely gathering information about consumers' ________. A) social network usage rates B) economic situations C) occupational needs D) purchasing perceptions E) brand affiliations

economic situations

Which of the following groups is included in both a company's value chain and its value delivery network? A) customers B) suppliers C) employees D) distributors E) competitors

employees

The citizen-action publics in a company's marketing environment include ________. A) employees and managers of the company B) stockholders and investment analysts C) government trade agencies D) environmental groups E) news channels

environmental groups

A company that sells personal care products sends a trained observer to watch potential buyers in their natural environments. This is an example of ________ research. A) quantitative B) online C) ethnographic D) experimental E) archival

ethnographic

Devon is in the market for a new car. She is seriously considering either a Honda Civic or Toyota Corolla because they both have excellent quality and safety ratings and are comparable in price. Devon is in the ________ stage of the buyer decision process. A) evaluation of alternatives B) need recognition C) information search D) purchase decision E) postpurchase behavior

evaluation of alternatives

________ is the act of obtaining a desired object from someone by offering something in return. A) Targeting B) Segmentation C) Differentiation D) Exchange E) Positioning

exchange

A market researcher wants to find the cause-and-effect relationship between using organic ingredients in food and the subsequent consumption by customers. He invites ten respondents to his research firm and asks them to taste two identical dishes. The dishes were prepared in a similar manner, but one has natural herbs for flavoring, and the other has artificial flavors. This is an example of ________. A) descriptive research B) ethnographic research C) experimental research D) online research E) exploratory research

experimental research

Burger Town introduced a new hamburger and released it in two different cities at two different prices. Marketers of Burger Town then analyzed the sales records of their outlets at the two cities, determined the price that resulted in better profits, and used the information to set a nationwide price for their new offering. This is an example of ________. A) exploratory research B) survey research C) netnography research D) experimental research E) descriptive research

experimental research

In most marketing research projects, what type of research is conducted first? A) causal B) descriptive C) remedial D) corrective E) exploratory

exploratory

The objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses. A) descriptive B) exploratory C) causal D) corrective E) experimental

exploratory

Monfax Corporation insures manufacturers, distributors, and consumers against the loss or damage of goods during transportation after a purchase or sale. In this case, Monfax is an example of a ________. A) wholesaler B) retailer C) financial intermediary D) physical distribution firm E) marketing service agency

financial intermediary

Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization. A) supply chain B) macroenvironment C) marketing intermediary network D) internal environment E) microenvironment

macroenvironment

Which of the following is a quantitative approach to research? A) observational research B) online focus groups C) ethnographic research D) in-depth interviews E) marketing surveys

marketing surveys

The "Stop the Texts. Stop the Wrecks." campaign co-sponsored by the Ad Council and the National Highway Traffic Safety Administration is an example of a marketing offering for a(n) ________. A) product B) person C) idea D) place E) organization

idea

The process that turns marketing plans into marketing actions to accomplish strategic marketing objectives is called marketing ________. A) analysis B) implementation C) control D) planning E) design

implementation

________ are flexible and allow for explanation of difficult questions as well as demonstrating products. A) Mail questionnaires B) Telephone interviews C) Individual interviews D) Online questionnaires E) E-mail interviews

individual interviews

A not-for-profit firm uses a small convenience sample to gather data on customer reactions. It invites a small group of customers for lunch and asks them to share what they think about the products they have purchased from the firm. This is an example of ________. A) informal surveys B) experimental research C) neuromarketing D) direct marketing E) formal surveys

informal surveys

Becca wants to buy a new coat. She asks her friends to recommend a store and/or a style of coat. She looks for sale advertisements for coats in newspapers and also visits nearby stores to check if she can find a coat in her budget. In this case, Becca is most likely in the ________ stage of the buyer decision process. A) product evaluation B) evaluation of alternatives C) need recognition D) information search E) purchase decision

information search

In which of the following stages of the adoption process does a consumer seek information about a new product? A) interest B) adoption C) evaluation D) awareness E) trial

interest

Susan Hart, the manager of a children's boutique, collects data from her monthly records of sales, costs, and cash flow. In this case, Susan is making use of ________ databases. A) external B) secondary C) historical D) internal E) dialog

internal

Volunteers belong to a company's ________ publics. A) general B) local C) citizen-action D) media E) internal

internal

True Value Hardware relies on its ________ to coordinate and carry out activities that provide shoppers with the hardware and home improvement products they need at affordable prices along with top-notch customer service. A) suppliers B) internal value chain C) distributors D) portfolio network E) internal supply chain

internal value chain

________ are tradition-bound, suspicious of changes, and adopt an innovation only when it has become something of a tradition itself. A) Latent innovators B) Early adopters C) Early mainstream adopters D) Lagging adopters E) Late mainstream adopters

lagging adopters

Which of the following is a personal factor that influences a consumer's buying behavior? A) life-cycle stage B) motivation C) status D) family E) social networks

life-cycle stage

Which of the following is a psychographic characteristic of a consumer? A) gender B) age C) lifestyle D) occupation E) economic status

lifestyle

Imaginative Web sites, smartphone apps, and social media allow marketers to deliver messages that are direct and personal so consumers can ________. A) live the brand B) sustain the brand C) deliver the brand D) enhance the brand E) establish the brand

live the brand

The town of Genter recently witnessed a devastating hurricane that crippled the town's infrastructure. Q-Mart, a retail chain that plans to open a new retail store in Genter, organizes a program to help the people of Genter. The program consists of providing free meals to those who lost their dwellings in the hurricane. What section of the marketing microenvironment is Q-Mart most likely trying to reach? A) suppliers B) marketing intermediaries C) local publics D) competitors E) employees

local publics

Kathy Jenkins is planning to conduct research on consumers' personal care routines. Since the questions are likely to be personal and sensitive, Kathy wants to select a contact method that will encourage respondents to answer honestly. Which of the following contact methods is most likely to best serve Kathy's purpose? A) mail questionnaires B) telephone interviews C) individual interviews D) focus group interviews E) online discussions

mail questionarries

A firm's decision to identify and develop new markets for existing products is a ________ strategy. A) market development B) market differentiation C) market penetration D) product development E) diversification

market development

Which of the following criteria provides a measure of market attractiveness in the Boston Consulting Group approach? A) relative market share B) market sentiment C) return on marketing investment D) market growth rate E) brand image

market growth rate

A strategy for company growth that involves increasing sales to current market segments without changing the product is known as ________. A) market development B) market differentiation C) market penetration D) product development E) diversification

market penetration

EcoBean, a chain of cafes, has introduced a Special Shopper Card that allows customers to pay in advance for coffee and snacks. This effort by EcoBean management is most likely an example of ________. A) market development B) product development C) diversification D) market penetration E) product adaptation

market penetration

Under Armour increasing its advertising spending and offering an ever-increasing range of styles and colors in its original apparel line is an example of a ________ strategy. A) market penetration B) market development C) product diversification D) business harvesting E) product development

market penetration

Ferrari sells only 2,200 of its very high-performance cars in North America each year at very high prices. The company is appealing to a specific ________. A) value chain B) market segment C) financial public D) business portfolio E) market position

market segment

When Goodyear sells replacement tires to final consumers, its potential market includes millions of car owners around the world. But its fate in business markets depends on getting orders from only a handful of large automakers. This represents the difference in ________ between business and consumer markets. A) types of decisions B) derived demand C) market structure D) the decision process E) nature of the buying unit

market structure

________ refers to the process of evaluating each market segment's attractiveness and selecting one or more segments to enter. A) Market divesting B) Market diversification C) Market targeting D) Market mixing E) Market positioning

market targeting

The ________ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do. A) marketing B) product C) production D) selling E) societal marketing

marketing

Marketers apply ________ to the large and complex sets of data they collect to gain customer insights and gauge performance. A) CRM software B) predictive analysis software C) marketing analytics D) CRM systems E) intranet capabilities

marketing analytics

Evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are attained is called ________. A) marketing control B) marketing implementation C) market planning D) marketing development E) market targeting

marketing control

At John Deere, thousands of people both inside and outside the organization make decisions about target segments, branding, product development, pricing, promotion, and distribution. They talk with engineering about product design, advertising agencies about ad campaigns, and large retailers like Lowe's about quality offerings. This is an example of ________. A) marketing planning B) marketing standards C) marketing control D) marketing strategy E) marketing implementation

marketing implementation

________ is the art and science of choosing target markets and building profitable relationships with them. A) Differentiation B) Marketing management C) Positioning D) Segmentation E) Value engineering

marketing management

Nike's goal to increase sales of its running shoes by 25 percent during the first 6 months of the new fiscal year is an example of a ________. A) differentiation objective B) positioning objective C) marketing objective D) marketing strategy E) target market strategy

marketing objective

Consumers' needs and wants are fulfilled through ________. A) value B) demand C) desire D) market offerings E) ideas

marketing offerings

________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. A) Test marketing B) Marketing research C) Commercialization D) Integrated marketing E) Exclusive distribution

marketing research

Dividing a market into several sections of customers is known as ________. A) mass customization B) market positioning C) market segmentation D) value engineering E) undifferentiated marketing

marketing segmentation

Fargo Inc. is a carbonated beverage manufacturer that has many manufacturing plants around the world. It is planning to shift from using thermal power to wind power for its manufacturing plants in the Netherlands to decrease dependency on nonrenewable sources of energy. This scenario depicts Fargo's concern for its ________ environment. A) economic B) natural C) demographic D) political E) cultural

natural

Which of the following is the first stage of the buyer decision process? A) need recognition B) information search C) evaluation of alternatives D) purchase decision E) postpurchase behavior

need recognition

A category of ethnographic research used to observe consumers in a natural context in virtual and mobile spaces is referred to as ________. A) interethnography B) netnography C) microethnography D) macroethnography E) demography

netnography

________ have enabled researchers to gain greater control over who participates in the online sample. A) Social media tracking methods B) Network respondent panels C) Behavioral sampling methods D) Online behavioral targeting E) Online listening methods

network respondent panels

A(n) ________ is best suited for exploratory research. A) mail survey B) questionnaire C) observation D) online survey E) focus group

observation

Annie Carson, the owner of Annie's Dairy Bar, is considering opening a second location. She evaluates several potential sites by assessing traffic patterns, neighborhood conditions, and the locations of competitors. Annie is engaging in ________. A) observational research B) focus groups C) personal interviews D) Internet-based surveys E) experimental research

observational research

Which of the following is a structured method of online research where marketers require direct responses from customers? A) online behavioral targeting B) social media tracking C) online listening D) online surveys E) blog analysis

online surveys

Ford Motor Company issuing a recall that requires customers to schedule appointments with car dealerships to repair faulty igniters would have the greatest impact on the ________ component of its marketing mix. A) promotion B) price C) product D) packaging E) place

place

In a marketer's macroenvironment, the ________ environment consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society. A) political B) cultural C) technological D) natural E) internal

political

Bill thought he had received the best deal on his riding mower. Shortly after the purchase, Bill started to notice certain disadvantages of his new riding mower as he learned more about other riding mowers available in the same price range. Bill is in which of the following stages of the buyer decision process? A) purchase decision B) need recognition C) postpurchase behavior D) information search E) alternate evaluation

postpurchase behavior

Simone bought two bottles of wine from two vineyards in Bordeaux. When asked for an opinion on the quality of the wines, she later mentioned that the Pontet Canet tasted like alcoholic grape juice, but the Chateau Margaux had a crisp taste that she really enjoyed. Which of the following stages of the buyer decision process do Simone's remarks reflect? A) information search B) situational analysis C) evaluation of alternatives D) purchase decision E) postpurchase behavior

postpurchase behavior

________ data consist of information collected for the specific purpose at hand. A) Primary B) Secondary C) Derived D) Archival E) Historical

primary

Harper Farms raises chickens. For years, it has used wooden coops for hauling its poultry to market. When the owner, Jane Harper, went to reuse some of her coops, she noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced. Which stage of the business buying decision process was Harper in when she decided to replace her old coops? A) problem recognition B) general need description C) product specification D) product value analysis E) performance review

problem recognition

The ultimate aim of customer relationship management is to ________. A) produce high customer equity B) divide markets into distinct segments C) evaluate customer lifetime value D) turn "strangers" into "butterflies" E) evaluate current sales share

produce high customer equity

Design, packaging, service, and features are elements of the ________ component of a company's marketing mix. A) product B) price C) promotion D) place E) people

product

The ________ concept holds that consumers will favor goods and services that offer the most in quality, performance, and innovative features. A) societal marketing B) marketing C) selling D) production E) product

product

During which stage of the business buying decision process is a buyer most likely to conduct value analysis by carefully studying components to determine if they can be redesigned, standardized, or made less expensively? A) general need recognition B) product specification C) proposal solicitation D) order-routine specification E) performance review

product specification

Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This most likely reflects the ________. A) customer-driving marketing concept B) marketing concept C) societal marketing concept D) production concept E) selling concept

production concept

PC manufacturer, Lenovo, focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Lenovo most likely follows the ________. A) customer-driving marketing concept B) marketing concept C) societal marketing concept D) production concept E) selling concept

production concept

When viewing the market from a buyer's point of view, "communication" corresponds to the ________ component of the marketing mix. A) people B) price C) product D) promotion E) place

promotion

GenX, a manufacturer of sport motorcycles, is seeking a new supplier of motorcycle headlamps and brake lights. After searching trade directories, GenX invites five different suppliers to make formal presentations about how their solutions can create greater value for GenX than competing solutions. GenX is currently in the ________ stage of the business buying decision process. A) problem recognition B) general need description C) product specification D) supplier search E) proposal solicitation

proposal solicitation

P&G's decision to eliminate dozens of major brands from its portfolio including Crisco, Folgers, and Jif to focus on household care, beauty, and grooming products is an example of ________. A) pruning B) harvesting C) market segmentation D) diversification E) market saturation

pruning

Jeff is in the process of buying a new car. He carefully analyzes the features that he wants in a car, and perceives significant differences in price, quality, and features among three of his favorite models. He rates the models on each factor and ranks them in the order of his preference. To which of the following stages of the buyer decision process will Jeff most likely proceed next? A) postpurchase behavior B) evaluation of alternatives C) information search D) need recognition E) purchase decision

purchase decision

The most common research instrument, whether administered in person, by phone, by e-mail, or online, is the ________. A) mechanical device B) personal interview C) questionnaire D) telephone interview E) focus group

questionnaire

A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a ________. A) membership group B) reference group C) laggard D) subculture E) late-majority adopter

reference group

________ is the degree to which an innovation appears superior to existing products. A) Relative advantage B) Compatibility C) Complexity D) Divisibility E) Communicability

relative advantage

JJ Distributors Ltd. buys electronic products from manufacturers for wholesale and sells them to various retail outlets. To which of the following markets does JJ Distributors Ltd. directly cater? A) business markets B) reseller markets C) manufacturer markets D) supplier markets E) consumer markets

reseller markets

Which of the following is the means by which companies post purchase requests online and invite suppliers to bid for their business? A) extranet links B) intranet connections C) trading exchanges D) traditional procurement E) reverse auctions

reverse auctions

Sally purchased a newly introduced moisturizing lotion. By attempting to find out if the lotion's perceived performance matched her expectations, Sally was measuring her level of customer ________. A) loyalty B) satisfaction C) equity D) engagement E) lifetime value

satisfaction

Information collected from commercial online databases or through Internet search engines are examples of ________ data. A) primary B) secondary C) first-hand D) experimental E) ethnographic

secondary

Traxx is a newly emerging shoe manufacturing company. After extensive market research, Traxx divides its market into professional athletes, "hobbyists" or amateur players, and people who wear shoes as part of their casual attire. Each category has its own needs, traits, and marketing goals. In this scenario, Traxx has engaged in market ________. A) development B) positioning C) diversification D) segmentation E) penetration

segmentation

Both market penetration strategies and market development strategies primarily involve ________. A) selling a company's current products B) modifying the company's product line C) selling in new as well as existing markets D) developing a new product E) leaving the current market

selling a companys current products

________ refers to the portion of the customer's purchase that a company gets in its product categories. A) Value proposition B) Share of customer C) Brand equity D) Customer lifetime value E) Customer equity

share of customer

Hallmark's classic "When you care enough to send the very best" slogan appeals to which need category in Maslow's hierarchy? A) physiological B) social C) esteem D) self-actualization E) safety

social

Various government agencies have launched campaigns to encourage energy conservation and concern for the environment as well as discourage smoking, illegal drug use, and obesity. This illustrates ________ marketing. A) ambush B) social C) for-profit D) consumer-generated E) multi-level

social

Many leading business and marketing thinkers are now preaching the concept of "shared value" which recognizes that ________ needs, not just economic needs, define markets. A) functional B) marketing C) individual D) societal E) physical

societal

Cosmetic retailer Lush knows that doing what's right benefits both customers and the company. Their premium beauty products are made by hand from the freshest possible natural ingredients. This is an example of the ________ concept. A) marketing B) product C) production D) societal marketing E) selling

societal marketing

Customer evangelists are those who ________. A) use personal selling methods to market products and services B) spread the word about their good experiences with a brand or product C) use their expertise to influence people about specific products D) work with quality-assurance teams to improve product safety E) evaluate newly launched products in the marketplace

spread the word about their good experiences with a brand or product

According to the BCG matrix, products or businesses with a high market share in a high-growth market are classified as ________. A) stars B) cash cows C) question marks D) dogs E) heroes

stars

A(n) ________ reflects the general esteem given to the different roles of a person by society. A) motive B) attitude C) belief D) tradition E) status

status

According to Maslow's hierarchy of needs, which of the following is most likely an esteem need? A) love B) security C) hunger D) self-development E) status

status

Which of the following is most likely a financial public? A) community organization B) minority group C) corporate attorney D) stockholder E) newspaper

stockholder

A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a(n) ________. A) modified rebuy B) new task situation C) straight rebuy D) dual distribution system E) exclusive distribution system

straight rebuy

In which of the following customer relationship groups do organizations generally avoid investing? A) barnacles B) strangers C) butterflies D) true believers E) true friends

strangers

________ are customers who show low potential profitability and little projected loyalty. A) True friends B) Barnacles C) Strangers D) True believers E) Butterflies

strangers

Which of the following transforms marketing strategies into real values for consumers? A) share of customer B) customer equity C) the four Ps of marketing D) a firm's value proposition E) customer satisfaction surveys

the four Ps of marketing

CVS Pharmacy changed its name to CVS Health, reshaping and broadening its lines of products and services to align more appropriately with its revamped "better health" mission. For example, it stopped selling tobacco products altogether. How would this be classified in a SWOT analysis? A) strength B) weakness C) opportunity D) threat E) barrier to entry

strength

Which of the following is most likely the final stage of the business buying decision process? A) problem recognition B) product specification C) proposal solicitation D) order-routine specification E) supplier performance review

supplier performance review

________ refers to a channel stretching from raw materials to components to final products that are carried to final buyers. A) A supply chain B) A marketing channel C) A market segment D) A demand chain E) A marketing-mix channel

supply chain

________ is a method of gathering primary data that involves asking people questions about their knowledge, attitudes, preferences, and buying behavior. A) Observational research B) Archival research C) Survey research D) Experimental research E) Causal research

survey research

________ is defined as a business strategy where business buyers prefer to buy a complete solution to a problem from a single seller rather than buying and consolidating separate products and services from several suppliers. A) Modified rebuy B) Straight rebuy C) New task buying D) Systems selling E) Supplier development

systems selling

Dollar General profitably appeals to families with more modest means. The retailer's approach is most likely referred to as ________. A) mass distribution B) cost leadership C) consumer-generated marketing D) target marketing E) undifferentiated marketing

target marketing

The ________ environment is perhaps the most dramatic force shaping the destiny of individuals and offering exciting opportunities for marketers. A) demographic B) technological C) political D) social E) cultural

technological

Which of the following is an example of a media public? A) community organization B) minority group C) television station D) banking institution E) federal government

television station

Customers who are classified as true believers ________. A) are attracted to a company's competitor's deals and offers B) have needs and wants that do not fit a company's offerings C) are not very profitable for a company D) tell others about their good experiences with a company E) are projected to be less loyal to any brand

tell others about their good experiences with a company

What is the most important consumer buying organization in society? A) leading adopters B) the family C) membership groups D) reference groups E) aspirational groups

the family

Which of the following best describes the value chain of a company? A) the collection of businesses and products that make up the company B) profits earned by the cash cows and stars in the company's business portfolio C) touchpoints at which a company or brand interacts with its consumers D) the series of departments that design, produce, market, deliver, and support the company's products E) a network made up of the company, its suppliers, and its distributors working together to deliver customer value

the series of departments that design, produce, market, deliver, and support the company's products

Which of the following concepts calls for sustainable marketing? A) the societal marketing concept B) the marketing concept C) the selling concept D) the production concept E) the product concept

the societal marketing concept

In a SWOT analysis, ________ refer to unfavorable external factors or trends that may present challenges to performance. A) threats B) strategies C) weaknesses D) opportunities E) strengths

threats

The responsibility for setting a company's mission, objectives, broad strategies, and policies primarily lies with its ________. A) finance department B) research department C) top management D) marketing managers E) human resource managers

top management

Many marketers now embrace a ________ strategy, integrating ethnic and cross-cultural perspectives within their mainstream marketing. A) total market B) cultural marketing C) viral marketing D) social marketing E) cause marketing

total market

According to the five-step model of the marketing process, the first step in marketing is ________. A) capturing value from customers to create profits and customer equity B) constructing an integrated marketing program that delivers superior value C) engaging customers, building profitable relationships, and creating customer delight D) understanding the marketplace and customer needs and wants E) designing a customer-driven marketing strategy

understanding the marketplace and customer needs and wants

A ________ is made up of a company, its suppliers, its distributors, and its customers who partner with each other to improve the performance of the entire system. A) value chain B) shareholder network C) business portfolio D) value delivery network E) growth-share matrix

value delivery network

Companies have responded to consumers' back-to-basics sensibility in their lifestyle and spending patterns through ________. A) frugal marketing B) value marketing C) quality marketing D) diverse marketing E) prestige-oriented marketing

value marketing

A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy their needs. A) dominant effect B) fringe benefit C) perquisite D) value proposition E) dividend yield

value proposition

JetBlue's promise to put "You Above All" by "bringing humanity back to travel" is their ________. A) value proposition B) segmentation strategy C) market offering D) selling concept E) production concept

value proposition

________ are the form human needs take as they are shaped by culture and individual personality. A) Wants B) Necessities C) Services D) Benefits E) Risks

wants

In which of the following circumstances is an organization likely to engage in full partnerships with key consumers? A) when the market has few customers and high margins B) when the market has a huge number of customers C) when the firm has a frequency marketing program D) when the firm has a large number of low-margin customers E) when the firm has few marketing resources at its disposal

when the market has few customers and high margins