Marketing Test Chapters 1-4
A country's currency exchange rate provides the most reliable picture of its purchasing power.
False
Compared to other generational groups, baby boomers have the greatest familiarity with and most use for digital communication, social media, and other forms of technology.
False
Decisions regarding the place or distribution function must be made using sales tracking.
False
Direct competition occurs when a product provides alternate solutions to the same market.
False
Environmental scanning involves monitoring developments within a firm's control to evaluate the firm's strengths and weaknesses.
False
Franchising is an attractive method of entering foreign markets because franchisors assume the majority of the capital costs and human resource issues
False
In a marketing sense, there is really no difference between a need and a want.
False
Marketing refers to advertising and selling a product.
False
NAFTA has had a negative impact on U.S. farmers because of the restrictions it imposes on exports, which has made trade between countries more difficult for the farmers.
False
Promotion involves the activities a firm undertakes to make its product available to potential customers
False
Reliability concerns how well the data measure what the researcher intended to measure
False
Research objectives are set during the plan development step of the marketing research process.
False
Strategic planning is a process that is done only once, when the firm is defining its objectives and setting a course for achieving those objectives.
False
Strategic planning is not necessary for nonprofit organizations because they are not operating to make a profit.
False
The marketing concept is a strategy that utilizes all aspects of marketing in order to persuade consumers to buy new products and more of existing products.
False
The use of social media is not applicable to nonprofit organizations because they tend to get the most success from traditional marketing methods.
False
When Apple began selling the iPhone, Blackberry countered with a number of business apps that Apple didn't offer and emerged as a smaller but stronger company.
False
When a company sends survey takers to a mall to determine buying behavior, it is conducting exploratory research.
False
A recession and contraction of the economy tends to reduce consumer confidence.
True
Analyzing cultural fit and overcoming consumer ethnocentrism are essential aspects of environmental scanning on a global scale that help firms create value for international consumers.
True
Carly spoke to 50 people about their preferences in hair coloring, but she spoke to them one at a time. Carly was conducting focus groups.
True
Each component of a marketing plan should be grounded in the firm's overall mission.
True
Economic factors influence almost every marketing decision a firm makes
True
Janie is looking to open a cupcake shop. She wants to make sure her shop is successful, so she hires a consultant to help her determine the best location for her new business. In this example, the information given to Janie by the consultant is considered a product.
True
Janie thinks that Kleenex is the best brand of facial tissue on the market and refuses to buy any other brand. For Janie, Kleenex has established a competitive advantage over the competing products
True
One of the biggest sociocultural changes in the United States over the past half century has been the shift from a nation of primarily one-income families to one in which two-income families and single-parent households predominate.
True
Positioning refers to the activities a firm undertakes to create a certain perception of its product in the eyes of the target market.
True
Primary data are collected specifically for the research problem at hand
True
Products like Facebook and Twitter are changing how firms interact with customers to better meet the needs of the marketplace.
True
Regardless of market conditions, over 80 percent of all new products fail in the marketplace
True
Selling domestically produced products to foreign markets is the least risky option for entering international markets.
True
Social media users on sites like Facebook often share information concerning their purchases or intended purchases as well as personal information about themselves that is used by researchers.
True
Sue wanted everyone to have a chance to go first with the pi?ata, so she drew names out of a hat. She was using simple random sampling
True
The World Trade Organization was officially formed in 1995 under the Marrakech Agreement.
True
The group of products on the BCG matrix that represents products that have a small market share in industries with low growth rates is dogs.
True
The marketing mix is also referred to as the four Ps of marketing
True
The mission statement should be customer oriented and focused on satisfying basic customer needs and wants.
True
The production era continued until the mid-1920s, when consumer demand could not keep up with the growth in production and new strategies were needed to maximize success.
True
The situation analysis section is often considered the foundation of a marketing plan because organizations must clearly understand their current situation to make strategic decisions about how to best move forward.
True
firm could use mathematical modeling to investigate the effect on sales if the firm were to increase or decrease the price of the product.
True
