midterm

an organic farmer has identified three distinct groups that might be interested in his products: vegetarians, health-conscious individuals, and people identified as trendsetters who try out new products in the market before others. these three groups are examples of: a) marketing mixes b) market segments c)value propositions d)market offerings e) marketing intermediaries

market segments

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

the online retail giant, Amazon, has to start charging sales tax in eight additional states in coming years. Which of the micro-environments below is influencing Amazon taxation rates in different states? a) industry b) technological c) social d) cultural e) legal

legal

CEO of a retail chain in Mexico commented on Wal-Mart's entry into Mexico, he said: "I buy 20,000 plastic toys, and Wal-Mart buys 20 million. Who do you think gets them cheaper?" Which strategic principle of Porter is evident in this comment for Wal-Mart? a) Wal-Mart's buyer power b) Wal-Mart's barriers to entry c) Wal-Mart's switching costs d) Wal-Mart's supplier power e) Wal-Mart's discount policies for customers

Wal-Mart's buyer power

Which of the following product/service sets are examples of substitute products/services based on definition of substitute products? a) dell laptop and HP laptops b) regular coke and pepsi c) AMC movie theater and regal movie theater d) an uber and a taxi e) all of the above are examples of substitute products

an uber and a taxi

A financial services firm has several loyal customers who conduct business with them exclusively. However, the company has noticed that his customer group is the least profitable for the company, and in some cases, it increases their losses when engaging in business with this group. which of the following customer groups is being referred to in this scenario? a) butterflies b) true friends c) strangers d) barnacles e) cash cows

barnacles

Procter & Gamble has identified a group of consumers in Europe who are willing to pay premium prices for pet food that will improve the health of their pets. This is an example of ________ segmentation. a) demographic b) life-style c) ethnic d) purchase behavior e) benefit

benefit

When conducting the situation analysis for their company Sony evaluates the performance of different advertising agencies they contracted to develop commercials. This evaluation would be part of: a) customers analysis b) collaborator analysis c) company analysis d) context analysis e) competitor analysis

collaborator analysis

A catalog retailer in the United States has identified African American professionals between the ages of 35 and 45 as a group of potential customers for its products. The retailer plans to direct its marketing efforts toward this group of consumers. Which of the following market segmentation variables was most likely used by the catalog retailer? a) demographic b) psycho graphic c) user status d) loyalty status e) usage rate

demographic

Delta Motorworks markets its cars based on the age, gender, and income of its customers. Which of the following types of market segmentation is evident here? a) geographic segmentation b) benefit segmentation c) occasion segmentation d) demographic segmentation e) psychographic segmentation

demographic segmentation

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) post purchase behavior

evaluation of alternatives

P&G was among the first to use ________ segmentation when it introduced Secret, a deodorant brand specially formulated for women's chemistry. a) age and life cycle b) gender c) behavior d) psychographic e) geographic

gender

Kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. After the cereal begins to appear in these new markets, the company increases its promotion expenditure to check competition. Kellogg's is in the ________ stage of the product life cycle. a) introduction b) growth c) maturity d) decline e) adoption

growth

which stage in the product life cycle is characterized by rapid market acceptance and increasing profits? a) introduction b) maturity c) growth d) decline e) product development

growth

in the tech world, about 90 percent of the world's one billion PCs run on Microsoft's operating systems. This represents which aspect of the Porter's five forces model for Microsoft? a) high bargaining power of supplier b) high bargaining power of buyer c) threat of substitute products d) rivalry among competitors e) high threat of new entrants

high bargaining power of supplier

Gilron Holidays runs a premium membership club which caters to customers whose annual salary exceeds $100,000. Members of this club are offered seasonal discounts on select luxury hotels in select cities worldwide. Gilron Holidays most likely follows a(n) ________ segmentation approach. a) gender b) income c) occasion d) beneefit e) geographic

income

in a SWOT analysis, which of the following would be considered a strength? a) industry trends b) technological shifts c) environmental demands d) vulnerabilities e) internal capabilities

internal capabilities

which of the following best characterizes the decline stage of product development: a) rapid market acceptance b) slow sales growth c) sales and profits decline d) high investment costs e) increasing profits

sales and profits decline

A recent study conducted by Estelle Cosmetics Company showed that heavy users of Estelle's products comprise a small percentage of the market. The study indicated that less than 7 percent of all shoppers buy nearly 71 percent of Estelle's products in the United States. This is an example of ________. a) benefit segmentation b) segmentation by loyalty status c) segmentation by usage rate d) psycho graphic segmentation e) occasion segmentation

segmentation by usage rate

With an expected increase in ethnic diversity within the American population, marketers are most likely to place a greater emphasis on ________. a) geographic segmentation b) target advertising messages c) mass marketing d) "do well by doing good" missions e) corporate giving

targeting advertising messages

People differ greatly in their readiness to try new products. In each product area, there are "consumption pioneers." They are also called laggards.

true

on the bcg matrix, "question marks" are high growth, low share businesses or products

true

_____________ marketing is more suited for uniform products, such as grapefruit or steel a) niche b) undifferentiated c) one-to-one d) trigger-based e) local

undifferentiated

Jean Malone, a market researcher, recently found that most people in Bradburg County purchase automobiles with predominantly functional designs and prefer darker colors. Which of the following marketing strategies should Jean most likely recommend to an automobile dealer interested in opening a dealership in Bradburg County? a) one to one marketing b) undifferentiated marketing c) segmented marketing d) individual marketing e) direct marketing

undifferentiated marketing

______________refers to a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer. a) individual marketing b) local marketing c) niche marketing d) undifferentiated marketing e) segmented marketing

undifferentiated marketing