MKT 245 Exam 1

In the process of analyzing​ competitors, what should a company do next after identifying​ competitors? A. Assess them B. Attack them C. Ignore them D. React to them E. Avoid them

A. Assess them

__________ is the​ 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. Satisfaction B. Exchange C. Demand D. Customer-perceived value E. Objective value

C. Demand

Which of the following statements regarding a customer intimacy strategy is​ correct? A. A customer intimacy strategy attempts to create a lean value delivery system. B. A customer intimacy strategy offers generic products to the target market. C. A customer intimacy strategy does not require market segmentation. D. A customer intimacy strategy requires quickly responding to customer needs. E. A customer intimacy strategy serves customers who demand a lower price.

D. A customer intimacy strategy requires quickly responding to customer needs.

What does a company do to start the strategic planning​ process? A. Analyze its competitors. B. Plan their marketing mix. C. Perform a cost analysis. D. Define its overall purpose and mission. E. Identify the needs and wants of their customers.

D. Define its overall purpose and mission

Many critics charge that the American marketing system causes prices to be higher than they would be under more​ "sensible" systems. What are the three factors that critics say cause these inflated​ prices? A. High costs of product​ development, high costs of advertising and​ promotion, and excessive markups B. High costs of​ distribution, high costs of product​ development, and excessive markups C. High costs of​ distribution, high costs of advertising and​ promotion, and deceptive pricing D. High costs of​ distribution, high costs of advertising and​ promotion, and excessive markups E. High costs of​ distribution, high costs of advertising and​ promotion, and high costs of product development

D. High costs of​ distribution, high costs of advertising and​ promotion, and excessive markups

__________ requires that the company continually seek real product and marketing improvements. A. Consumer-oriented marketing B. ​Sense-of-mission marketing C. Customer value marketing D. Innovative marketing E. Societal marketing

D. Innovative marketing

Socially and environmentally responsible actions that meet both the immediate and future needs of customers and the company is the central principle of​ __________. A. strategic planning B. societal marketing C. profitability D. sustainable marketing E. the marketing concept

D. sustainable marketing

To create and capture customer​ value, companies must engage the first step of the marketing​ process, which is​ __________. A. construct an integrated marketing program B. design a customer​ value-driven marketing strategy C. build profitable customer relationships D. understand the marketplace and customer needs and wants E. create customer delight

D. understand the marketplace and customer needs and wants

Which of the following correctly identifies the five core customer and marketplace​ concepts? A. (1) Needs​, wants​, and demands​; ​(2) Market​ offerings; (3)​ Value; (4) Satisfaction​; and ​(5) Markets B. (1) Needs; ​(2) Wants; ​(3) Demands​; ​(4) Market​ offerings; and ​(5) Markets C. (1) Needs​, wants​, and demands​; ​(2) Products;​ (3) Value;​ (4) Customers; and​ (5) Competitors D. (1) Needs​, wants​, and demands​; ​(2) Market​ offerings; (3) Value and satisfaction​; ​(4) Competitors​; and​ (5) Profits E. (1) Needs, wants​, and demands​; ​(2) Market​ offerings; (3) Value and satisfaction​; ​(4) Exchanges and relationships​; and ​(5) Markets

E. (1) Needs, wants​, and demands​; ​(2) Market​ offerings; (3) Value and satisfaction​; ​(4) Exchanges and relationships​; and ​(5) Markets

What is the final step in the marketing​ process? A. Understand customer needs. B. Develop a customer​ value-driven strategy. C. Construct an integrated marketing program. D. Engage customers. E. Capture value from customers.

E. Capture value from customers.

A pet store offers shoppers a membership card. Members receive monthly mailings featuring coupons for the specific brand of pet food they purchased previously. This is made possible by: a) survey data b) the internal database c) competitive intelligence d) observational research

b) the internal database

______________ plays a key role in the company's strategic planning. a) accounting b) human resources c) marketing d) finance e) operations

c) marketing

What is marketing? a) Marketing deals with telling and selling b) Marketing is only selling and advertising c) The aim of marketing is to make selling necessary d) Marketing is a process of creating customer value e) Marketing deals primarily with TV commercials

d) Marketing is a process of creating customer value

Marketing planning takes place at the: a) business unit level b) product level c) market level d) all of the above

d) all of the above

Many companies manage detailed information about individual customers by using all of the following methods except​ __________. a) big data analytics b) customer touch points c) customer relationship management d) marketing analytics e) collecting and storing huge amounts of data

e) collecting and storing huge amounts of data

There is a growing segment of people who want food that tastes good and is also good for them. This​ healthy-living segment represents which segmentation​ base? A. Gender B. Usage rate C. Age D. Lifestyle E. Geography

D. Lifestyle

What are the main components of a marketing​ plan? A. An executive​ summary, situation​ analysis, objectives, marketing​ strategy, action​ programs, budgets and​ controls, and threats and opportunities B. Segmentation, targeting, positioning C. Product, price,​ place, promotion D. A mission​ statement, objectives, and a business portfolio E. The marketing budget and a marketing dashboard

A. An executive​ summary, situation​ analysis, objectives, marketing​ strategy, action​ programs, budgets and​ controls, and threats and opportunities

In the United​ States, patriotism has been increasing for the past 20 years. Marketers have responded with increased use of the​ "Made in​ America" appeal and patriotic themes. This reflects which aspect of​ culture? A. People's views toward society B. People's views of nature C. People's views of others D. People's views of themselves E. People's views of organizations

A. People's views toward society

Which marketing orientation states that consumers will favor products that offer the most in​ quality, performance, and innovative​ features? A. The product concept B. The marketing concept C. The selling concept D. The societal marketing concept E. The production concept

A. The product concept

The actual and potential buyers in a market share which of the following​ characteristics? A. They share a particular need​ and/or want. B. They have little influence over marketers. C. They do not engage in marketing. D. They are not affected by environmental forces. E. They have the same demographic profile.

A. They share a particular need​ and/or want.

For which customer relationship group should a company make continuous relationship investments to​ delight, engage,​ retain, and grow​ them? A. True friends B. Barnacles C. Strangers D. True believers E. Butterflies

A. True friends

When Dr. Footcare developed and launched a revolutionary new walking​ shoe, he knew that during the introductory stage of the product life cycle​ (PLC) __________. A. sales would fall and profits would drop B. profits would rise quickly and there would be rapid market acceptance of the product C. sales would be slow and profits nonexistent D. sales would be slow but profits would be high E. sales would be high and profits would level off or decline

C. sales would be slow and profits nonexistent

Companies who passively accept the marketing environment​ __________. A. form contractual agreements to control their distribution channels B. assume that their strategic options are not bound by the current environment C. view it as uncontrollable and do not attempt to change it D. use lobbying to influence legislation E. develop strategies to change the environment

C. view it as uncontrollable and do not attempt to change it

According to the​ growth-share matrix,​ __________ are​ high-share, high-growth products. When the market growth slows these products become​ __________. A. question​ marks; stars B. cash​ cows; dogs C. ​stars; cash cows D. question​ marks; cash cows E. cash​ cows; stars

C. ​stars; cash cows

A University is buying new overhead projectors for its classrooms. The​ University's Information Technology Department has been asked to provide specifications and recommendations for this purchase. The IT Department is playing which role in the​ University's buying​ center? A. User B. Buyer C. Gatekeeper D. Influencer E. Decider

D. Influencer

Which of the following statements about the use of digital and social media for​ B-to-B marketing is​ correct? A. It is growing slowly because business buyers are only occasionally connected to digital devices. B. It is growing rapidly but offers limited ways to engage customers compared to​ face-to-face selling. C. It is a very important medium but its use is currently limited to a small number of industries. D. It reduces customer engagement and interaction. E. It allows businesses to target individuals within a business who affect buying decisions.

D. It reduces customer engagement and interaction.

To grow​ sales, Under Armour increased its spending on advertising by 35 percent to increase sales in its current markets. Which growth strategy does this​ represent? A. Market development B. Divesting C. Diversification D. Market penetration E. Product development

D. Market penetration

Which value proposition is the most difficult to sustain in the long​ run? A. The same for less B. More for more C. More for the same D. More for less E. Less for much less

D. More for less

What is the key to building lasting customer​ relationships? A. Offering everyday low prices B. Creating unique products that competitors do not offer C. Selling products at a discount D. Marketing on the web E. Creating superior customer value and satisfaction

E. Creating superior customer value and satisfaction

To identify opportunities and problem areas, companies often hire and independent consultant to conduct systematic examination of their environment, objectives, and strategies. This is an example of a: a) SWOT analysis b) Marketing implementation c) Marketing audit d) Value delivery network

a) SWOT analysis

You and your marketing team must develop a plan to sell computer systems to telecommunication providers. This plan targets which of the following customer markets? a) business market b) consumer market c) international market d) government market

a) business market

For every pair of blue jeans purchased by customers, GAP is donating $5.00 to the World Wildlife Fund. This is an example of: a) cause-related marketing b) philanthropy c) social marketing d) cultural marketing

a) cause-related marketing

Which of the following is NOT an actor within the microenvironment? a) cultural forces b) the company c) suppliers d) marketing intermediaries

a) cultural forces

The real value of marketing research and marketing information lies in how it is used - in the __________ that it provides a) customer insights b) profits c) sales d) data

a) customer insights

A bank surveys mortgage and loan holders to learn their household size, income, age and marital status. The bank has engaged in: a) descriptive research b) casual research c) exploratory research d) focus group research

a) descriptive research

Procter & Gamble once had more than ten different brands of laundry detergent but now markets only six. This is an example of: a) downsizing b) diversification c) market contraction d) market penetration

a) downsizing

When Disney opened a theme park in Hong Kong, which of the following expansion strategies was being practiced? a) market development b) market penetration c) product expansion d) diversification

a) market development

Pupillometer tests in advertising measure a consumer's pupil dilation as he or she views an advertisment. A pupillometer is an example of a(n): a) mechanical device b) questionnaire c) secondary device d) survey device

a) mechanical device

Which of the following is NOT a current trend associated with the changing American household? a) the percent of married couples with children is increasing b) more people are divorcing, separating, and choosing not to marry c) the number of working women is increasing d) the number of nontraditional households is growing more rapidly

a) the percent of married couples with children is increasing

Based on recent geographic shifts in population, you most likely open your new branch of a sporting goods store in which of the following areas? a) the south b) the northeast c) the midwest d) canada

a) the south

What is customer equity? a) the total combined customer lifetime values of all of company's current and potential customers b) the present value of the future cash flows attributed to the customer relationship c) the difference between what a customer gets from a product, and what he or she has to give in order to get it d) customer's perceived opinion of a product's value to him or her

a) the total combined customer lifetime values of all of company's current and potential customers

Sarah has divided the cellphone market into five groups based on age. This is an example of: a) market positioning b) market segmentation c) market targeting d) marketing mix

b) market segmentation

Alex was born in 1995. To which generation does he belong? a) gen x b) millennials or gen y c) baby boomers d) bommerangers

b) millennials or gen y

At the corporate level, a company starts the strategic planning process by defining its overall________________. a) strengths b) mission c) portfolio d) objectives

b) mission

The ___________ concept questions whether the pure marketing concept overlooks possible conflicts between consumer short-run wants and consumer long-run welfare a) responsibility marketing b) societal marketing c) selling d) product

b) societal marketing

With mature consumerism and environmentalism movements, marketers are called to develop _________. a) consumer-generated marketing b) sustainable marketing practices c) customer-managed relationships d) selling oriented practices

b) sustainable marketing practices

Wal-Mart "partners" with its vendors to deliver greater value to its customers. This is an example of: a) convenience b) value delivery network c) customer orientation d) diversification

b) value delivery network

In the BCG growth-share matrix, low-growth, high-share businesses or products are called: a) Stars b) Question marks c) Cash Cows d) Dogs

c) Cash Cows

Which of the following mission statements is market-oriented? a) Revlon: we sell cosmetics b) Disney: we run theme parks c) Wal-Mart: we deliver value through low prices d) Xerox: we make copy, fax and other office machines

c) Wal-Mart: we deliver value through low prices

______________ allows an organization's suppliers, customers, and resellers to update account information, check purchases and more. a) CRM b) an intranet c) an extranet d) a marketing intelligence system

c) an extranet

What do we call the collection of businesses and products that make up the company? a) investment diversity b) needs inventory c) business portfolio d) departments

c) business portfolio

Factors that affect consumer buying power and spending patterns fall under which environment? a) natural b) cultural c) economic d) technological

c) economic

An example of a "threat" to a firm discovered by a SWOT analysis might be a) cost advantages present because of advanced technology b) the chance to acquire firms with needed technology c) likely entry of new competitors in the industry d) existing government policies adverse to the industry

c) likely entry of new competitors in the industry

Two major public policy and ethics issues in marketing research are intrusion on consumer privacy and: a) cost of primary data b) lack of information availability c) misuse of research findings d) government interference

c) misuse of research findings

The net return from a marketing investment divided by the costs of the marketing investment is called: a) return on sales b) return on profits c) return on marketing investment d) value return

c) return on marketing investment

Which is the first step in the marketing process? a) designing a customer-driven marketing strategy b) preparing an integrated marketing plan and program c) understanding the marketplace and customer needs d) building customer relationships

c) understanding the marketplace and customer needs

To sell products more efficiently and effectively, most manufacturers seek the assistance of all of the following marketing intermediaries EXCEPT: a) Resellers b) Financial institutions c) Physical distribution firms d) Suppliers

d) Suppliers

From a demographic point of view, your new Internet-service company stands a good chance of succeeding because the US population is: a) becoming more ethnically diverse b) growing older c) more inclined toward citizen action d) becoming better educated

d) becoming better educated

Which of the following depends on the product's perceived performance relative to a buyer's expectations? a) customer-generated marketing b) customer-managed relationships c) customer-perceived value d) customer satisfaction

d) customer satisfaction

If your firm was interested in learning which of two television advertising campaigns would be most effective, the company should conduct: a) ethnographic research b) secondary research c) observational research d) experimental research

d) experimental research

Companies that sell one product line to many different types of markets should use: a) functional organization b) geographic organization c) product management organization d) market management organization

d) market management organization

Starbucks drive-through windows and pre-paid cards are strategies that the company has adopted a) market development b) diversification c) product development d) market penetration

d) market penetration

Part of your job entails monitoring several blogs to learn what consumers are saying about your products as well as your competitors'. You are gathering: a) experimental data b) causal data c) focus group intelligence d) marketing intelligence

d) marketing intelligence

Maria is selecting a research sample by finding and interviewing 25 males and 25 females in each of four geographic regions. Which type of sample is Maria using? a) cluster sample b) convenience sample c) simple random sample d) quota sample

d) quota sample

Schwinn Bicycle Company wants to grow by diversification. To accomplish this, Schwinn will: a) introduce new bicycle models b) introduce modification to its existing bicycle products c) identify new market segments for its current products d) start up or acquire businesses outside of its current products and markets

d) start up or acquire businesses outside of its current products and markets

Which of the following statements about marketing information systems​ (MIS) is​ correct? a) a good mis must balance what users would like to have against what they really need and what is feasible to offer b) marketing information systems provide information only to a company's internal users c) an mis is focused on internal data and ignores the marketing environment d) a good mis gives managers all the information they ask for e) an mis begins and ends with information collectors

a) a good mis must balance what users would like to have against what they really need and what is feasible to offer

The basic concept underlying marketing is that of _____________________ a) customer wants b) customer needs c) customer demand d) customer experience e) customer relationship

b) customer needs

A firm can be proactive by​ __________. a) monitoring social media b) waiting for other firms to respond to changes in the environment c) pressing lawsuits to keep competitors in line d) reacting to changes in the environment as they occur e) accepting existing legislation

c) pressing lawsuits to keep competitors in line

_____________ refers to activities that communicate the merits of product and persuade target customers to buy it. a) differentiation b) positioning c) promotion d) segmentation e) targeting

c) promotion

Who are the most important players in Burger King's microenvironment? a) suppliers b) marketing intermediaries c) competitors d) customers e) publics

d) customers

When backed by buying power, wants become ___________. a) benefits b) offerings c) needs d) demands

d) demands

You and seven other people are talking with a trained moderator about your feelings and thoughts about a potential new product. For doing this you receive a small payment. You are participating in​ a(n) __________. a) ethnographic study b) experiment c) individual interview d) focus group interview e) immersion group

d) focus group interview

A company's mission statement should be focused on _________________. a) investment b) sales c) objectives and goals d) profit e) customers

e) customers

Which of the following is an accurate statement about building customer relationships in the modern marketing​ era? A. Building relationships through​ consumer-generated content is expensive and takes time. B. Digital technologies and social media have had little impact on relationship building. C. New digital and social media relationship tools are a fad which marketers can safely ignore. D. Digital technologies and social media have caused a decline in​ customer-engagement marketing. E. Customers have no role in managing relationships and creating personal brand experiences.

A. Building relationships through​ consumer-generated content is expensive and takes time.

How has the Great Recession of 2008 - 2009 affected marketers in terms of consumer​ attitudes? A. Consumers are showing an enthusiasm for frugality. B. Consumers are less concerned with value for the dollar. C. Consumers are less willing to save their money. D. Consumers are moving from mindful to mindless spending. E. Consumers' attitudes have not been affected by the recession.

A. Consumers are showing an enthusiasm for frugality.

Which of the following statements regarding individual product decisions is​ correct? A. Customer service is an important element of product strategy. B. Consumers see branding as separate from the product. C. Quality is important but it is not used to position products. D. Product design and product style mean the same thing. E. The sole function of packaging is to hold and protect a product.

A. Customer service is an important element of product strategy.

Which of the following statements about segmentation is​ true? A. Different segments might require different marketing strategies or mixes. B. Most companies today mass market and do not segment their markets. C. Segmentation identifies individual buyers that can be targeted with a market offering. D. Buyers within a market segment have different​ needs, characteristics, and behaviors. E. Market segmentation is part of a​ company's value proposition.

A. Different segments might require different marketing strategies or mixes.

Which of the following statements about new product development strategy is​ correct? A. Innovation can be very expensive and very risky. B. New products are not a key source of growth for companies. C. A new product will succeed as long as it priced correctly. D. Developing new products is optional for companies with established brands. E. New products are usually successful because consumers like new things

A. Innovation can be very expensive and very risky.

Which of the following is a true statement regarding managing and measuring marketing return on investment​ (ROI)? A. Marketers are increasingly using measures such as customer acquisition and​ retention, customer​ engagement, and customer equity as measures of ROI. B. One measure of ROI is sales generated by investments in marketing activities. C. Marketers are increasingly using​ customer-centered measures of ROI which include brand​ awareness, sales, and market share. D. One reason ROI is used is because it is very easy to measure. E. There is a consistent definition of ROI used by marketers.

A. Marketers are increasingly using measures such as customer acquisition and​ retention, customer​ engagement, and customer equity as measures of ROI.

In determining which customers to​ serve, a company engages in which two marketing​ activities? A. Segmentation and targeting B. Segmentation and positioning C. Segmentation and differentiation D. Positioning and differentiation E. Targeting and positioning

A. Segmentation and targeting

What is​ redlining? A. The failure of large retailers to put stores in disadvantaged areas B. Setting an artificially high price for a line of products C. The point at which marketers cross the line and use deception in any practice D. Selling unsafe products E. The target sales goal for high pressure selling

A. The failure of large retailers to put stores in disadvantaged areas

According to the​ text, the most successful new products satisfy three criteria. What are these​ criteria? A. They solve a major customer​ problem, are​ differentiated, and offer a compelling value proposition. B. They are​ differentiated, copy successful competitor​ products, and are priced low. C. They appeal to a wide variety of​ consumers, are priced​ low, and can be mass marketed. D. They solve a major customer​ problem, are​ differentiated, and are priced low. E. They are something that has never been seen​ before, are priced​ low, and are offered on a limited basis.

A. They solve a major customer​ problem, are​ differentiated, and offer a compelling value proposition.

The​ __________ consists of all the people who are involved in an organizational buying decision. A. buying center B. purchasing network C. buying network D. purchasing unit E. purchasing department

A. buying center

One problem with​ business-to-business e-procurement is that it​ __________. A. can erode​ long-standing customer-supplier relationships B. increases transaction costs C. reduces purchasing efficiency D. increases paperwork requirements E. increases the time between order and delivery

A. can erode​ long-standing customer-supplier relationships

Typically, consumers put in minimum time and effort when buying products such as laundry​ detergent, candy, and fast food. These types of goods are classified as​ __________ products. A. convenience B. augmented C. specialty D. unsought E. shopping

A. convenience

Service quality greatly depends on the quality of the buyer - seller interaction during the service encounter. This is known as​ __________. A. external marketing B. internal marketing C. image differentiation D. the service profit chain E. interactive marketing

A. external marketing

Psychographic segmentation divides buyers into different segments based on​ __________. A. lifestyle and personality B. lifestyle and geography C. lifestyle and income D. personality and income E. age and​ life-cycle stage

A. lifestyle and personality

Some​ retailers, such as the Dollar​ Store, Dollar​ Tree, and Family​ Dollar, profitably focus on buyers with modest means. This is an example of​ __________. A. market targeting B. packaging C. positioning D. the 4 Ps E. the marketing mix

A. market targeting

You are thirsty and decide to have an iced tea. Your thirst is a​ ________ and your choice of iced tea is a​ ________. A. need; want B. need; demand C. want; need D. want; demand E. demand; want

A. need; want

The sustainable marketing concept focuses on​ __________. A. the future needs of business and the future needs of consumers B. the future needs of business and the current needs of consumers C. the current needs of business and the current needs of consumers D. the environment E. the current needs of business and the future needs of consumers

A. the future needs of business and the future needs of consumers

What does a market segment consist​ of? A. A mental image of a product B. A group of consumers who respond to the marketing effort in the same way C. A group of competitors D. A group of similar products E. The 4 Ps

B. A group of consumers who respond to the marketing effort in the same way

What is a strategic​ group? A. A group of firms in an industry that do not compete with one another B. A group of firms in an industry following the same or a similar strategy in a given target market C. A group of firms in an industry that target different markets with different strategies D. A group of firms in different industries that follow similar strategies E. A group of firms in an industry following different strategies

B. A group of firms in an industry following the same or a similar strategy in a given target market

Which of the following is not one of the five marketing management​ functions? A. Control B. Customer service C. Implementation D. Analysis E. Planning

B. Customer service

A firm improves product quality and adds new product features and models. It also shifts some advertising from building product awareness to building product conviction and purchase. At which stage of the product life cycle would this be a recommended​ strategy? A. Decline B. Growth C. Maturity D. Product development E. Introduction

B. Growth

In which way does increasing customer satisfaction disrupt the internal value​ chain? A. It will gain commitment from the entire company to engage customers. B. It can increase production​ costs, increase​ inventories, and disrupt production schedules. C. It aligns all functional areas with the goal of increasing customer value. D. It will coordinate the efforts of different company departments to deliver customer value E. It makes all departments "think consumer".

B. It can increase production​ costs, increase​ inventories, and disrupt production schedules.

Which of the following statements is true regarding public policy and government​ regulation? A. Government regulation has no impact on international marketing. B. Legislation affecting business around the world has increased steadily over the years. C. Marketers can safely ignore government laws and regulation because they are rarely enforced. D. Government regulation does not get involved in how companies compete with one another. E. When public policy is​ developed, the government does not consider what is good for​ society; it focuses only on business.

B. Legislation affecting business around the world has increased steadily over the years.

When Under Armour expanded its current products into global​ markets, it was pursuing which growth​ strategy? A. Diversification B. Market development C. Product development D. Market penetration E. Divesting

B. Market development

Which targeting strategy focuses on common consumer​ needs, as opposed to different​ needs? A. Local marketing B. Mass marketing C. Concentrated marketing D. Differentiated marketing E. Individual marketing

B. Mass marketing

The first step to a successful​ value-driven marketing strategy is to determine whom to serve with a market offering. To make this​ decision, marketers engage in which two​ activities? A. Targeting and positioning B. Segmenting and targeting C. Segmenting and demand management D. Segmenting and positioning E. Customer management and demand management

B. Segmenting and targeting

What is the overall focus of strategic​ planning? A. To ensure prices are lower than competitors B. To create a game plan for​ long-run survival and growth in consideration of changing marketing opportunities C. To define the​ company's mission D. To maximize profits E. To design a business portfolio

B. To create a game plan for​ long-run survival and growth in consideration of changing marketing opportunities

Demography studies statistics that include​ __________. A. age, gender, government​ regulation, and race B. age, gender,​ race, and occupation C. age, race, income​ distribution, and lifestyle D. the​ economy, technology,​ family, and age structure of the population E. population​ size, density, income​ distribution, and culture

B. age, gender,​ race, and occupation

According to the​ text, the move from irresponsible consumption to sustainable consumption is ultimately the responsibility of​ __________. A. marketers B. consumers C. businesses D. the government E. consumer protection agencies

B. consumers

According to the​ text, it is important that a company design a competitive intelligence system that is​ __________. A. difficult to copy B. cost effective C. cutting edge D. wifi enabled E. easy to use

B. cost effective

The key element of successful marketing today is to​ __________. A. run frequent promotions B. create value C. advertise on television D. develop​ one-of-a-kind products E. offer low prices

B. create value

To improve the performance of the​ __________, many companies today are partnering with other members of the supply chain —​ suppliers, ​distributors, and customers. A. internal value chain B. customer value delivery network C. strategic plan D. marketing system E. partner-relationship network

B. customer value delivery network

If men and women respond similarly to the same marketing​ mix, they do not constitute​ distinct, identifiable segments. Gender would not be an effective base for segmentation in this example because the segments are not​ __________. A. actionable B. differentiable C. accessible D. measurable E. substantial

B. differentiable

Mission statements should be defined in terms of satisfying basic customer needs. In other​ words, they should be​ __________. A. product oriented B. market oriented C. relationship oriented D. media oriented E. price oriented

B. market oriented

The demand for organic produce is growing. Green Acres Farms grows only organic vegetables. In a SWOT​ analysis, the rising demand for organic produce would be​ a(n) __________ for Green Acres​ Farms, and the fact that they grow only organic vegetables is​ a(n) __________. A. strength; opportunity B. opportunity; strength C. opportunity; threat D. threat; strength E. opportunity; opportunity

B. opportunity; strength

If a company adds a new product line to its existing​ portfolio, it has increased its​ __________. A. product line length B. product mix width C. product mix depth D. product support services E. product mix consistency

B. product mix width

After defining its​ mission, the next step in strategic planning is to​ __________. A. design the business portfolio B. set company objectives and goals C. plan marketing strategies D. allocate resources to each product that is being marketed E. identify key strategic business units

B. set company objectives and goals

Following the principle of​ __________, a company makes marketing decisions by considering​ consumers' wants, the​ company's requirements,​ consumers' long-run​ interests, and​ society's long-run interests. A. consumer-oriented marketing B. societal marketing C. innovative marketing D. ​sense-of-mission marketing E. customer value marketing

B. societal marketing

In portfolio​ analysis, a company must identify​ __________, which are key businesses that make up the company. A. functional departments B. strategic business units C. competitors D. potential future businesses E. marketing intermediaries

B. strategic business units

What are the 4 Ps of​ marketing? A. Product, people,​ price, promotion B. ​Product, price,​ place, promotion C. ​Product, promotion,​ price, packaging D. ​Product, price,​ promotion, profit E. Product, price,​ people, packaging

B. ​Product, price,​ place, promotion

A cosmetic manufacturer receives a letter from PETA, People for the Ethical Treatment of Animals, expressing concern over the use of animals in product testing. To which of the following publics does PETA belong? a) Local B) Financial C) Citizen action D) Government

C) Citizen action

What is a product​ concept? A. The image of a new product in​ consumer's minds B. A working model of a new product C. A detailed version of a new product idea stated in meaningful consumer terms D. A new product which is ready to be test marketed E. An idea for a new product

C. A detailed version of a new product idea stated in meaningful consumer terms

The first stage of the business buying decision process is problem recognition. What is the second​ stage? A. Proposal solicitation B. Product specification C. General need description D. Supplier search E. Supplier selection

C. General need description

Which of the following strategies would be utilized by a market​ challenger? A. Expand total demand. B. Expand their market share further. C. Observe what has made the market leader successful and improve on it. D. Find one or more market niches that are safe and profitable. E. Protect their current market share through good defensive and offensive actions.

C. Observe what has made the market leader successful and improve on it.

At which stage of the new product development process is a physical product first​ developed? A. Concept development and testing B. Idea generation C. Product development D. Marketing strategy development E. Test marketing

C. Product development

What are the two measurements used in the BCG matrix to classify strategic business​ units? A. Market growth​ rate; return on investment​ (ROI) B. Relative market​ share; number of products the company produces C. Relative market​ share; market growth rate D. Relative market​ share; return on investment​ (ROI) E. Market growth​ rate; degree of competitiveness

C. Relative market​ share; market growth rate

One characteristic of services is their variability. What is the main reason for services being​ variable? A. Services cannot be​ seen, tasted, or felt before they are bought. B. Services cannot be stored for later use. C. Service quality depends on who provides​ them, as well as​ when, where, and how they are provided. D. Services are​ tangible, and defects are impossible to prevent. E. Services cannot be separated from their providers.

C. Service quality depends on who provides​ them, as well as​ when, where, and how they are provided.

Which of the following statements regarding the U.S. government market is​ correct? A. The U.S. government market is not affected by environmental factors. B. Government buying is not scrutinized by outside publics. C. The U.S. government is the largest buyer of goods and services in the world. D. The government tends to favor foreign suppliers over domestic suppliers. E. Selling to the U.S. government requires no specific knowledge of that market.

C. The U.S. government is the largest buyer of goods and services in the world.

Which of the following statements regarding socially responsible product decisions is​ correct? A. Safety legislation has not yet been passed to regulate​ toys, automobiles, and fabrics. B. When companies drop​ products, they do not have any obligations to​ suppliers, dealers, and customers. C. The government may prevent companies from adding products through acquisitions if the effect threatens to lessen competition. D. Companies can safely ignore patent laws. E. Manufacturers are generally not concerned with product liability.

C. The government may prevent companies from adding products through acquisitions if the effect threatens to lessen competition.

In marketing​ terms, what is a​ market? A. A retail establishment B. All sellers of a product or service C. The set of actual and potential buyers of a product or service D. The products that are sold to customers E. A​ company's current customers

C. The set of actual and potential buyers of a product or service

What is the overall goal of marketing​ strategy? A. To develop the marketing mix B. To identify​ competitors, suppliers, and publics C. To create customer value and build profitable relationships D. To position and differentiate the product E. To segment the market and target specific segments

C. To create customer value and build profitable relationships

What is the purpose of​ high-pressure selling? A. To ensure the customer gets good value from their purchase B. To sell customers goods that precisely fit their needs C. To persuade people to buy goods they had no thought of buying D. To sell goods which are overstocked in inventory E. To convince customers to buy goods that are not on sale

C. To persuade people to buy goods they had no thought of buying

One new technology marketers are adopting is radio frequency identification​ (RFID). What does this technology​ do? A. Scans barcodes at point of purchase B. Allows SmartPhones to send and receive text C. Tracks products and customers at various points in the distribution channel D. Weighs products at the point of purchase E. Identifies spam email before it is received

C. Tracks products and customers at various points in the distribution channel

The four Ps of the marketing mix have been redefined in​ buyer's terms as the four As. Product design influences​ __________, price affects​ __________, place affects​ __________, and promotion influences​ __________.

C. acceptability; affordability;​ accessibility; awareness

Fitbit makes health and fitness tracking devices. Some buyers want very basic fitness tracking such as steps taken and calories consumed. Others are focused on high performance and want heart rate and sleep​ monitoring, text​ notification, and wireless sync to their smart phone. In serving these two very different​ groups, Fitbit is using​ __________ segmentation. A. ​life-cycle stage B. personality C. benefits sought D. usage rate E. demographic

C. benefits sought

Business-to-business marketers will sometimes promote their goods directly to consumers. This is because business demand is​ __________. A. elastic B. unrelated to demand for consumer goods C. derived D. the same as consumer demand E. constant

C. derived

Regarding their competitive​ position, Walmart,​ Amazon, Coca-Cola, and Facebook are all examples of​ __________. A. market nichers B. market challengers C. market leaders D. well-known companies E. global firms

C. market leaders

According to the​ text, what are the three levels on which brands can be​ positioned? A. Brand​ equity, brand​ value, and brand sponsorship B. Product​ attributes, desirable​ benefits, and brand equity C. Product​ attributes, price, and packaging D. Product​ attributes, desirable​ benefits, and beliefs and values E. Quality, features, and desirable benefits

D. Product​ attributes, desirable​ benefits, and beliefs and values

Which of the following statements is true regarding standardizing products for international​ markets? A. Standardization means that marketers do not have to adapt their product offerings for different international markets. B. Standardization helps a company develop a different image in different countries. C. Markets and consumers all over the world are​ alike, so a company should always standardize international products. D. Standardization decreases product​ design, manufacturing, and marketing costs. E. Standardization ensures that products will succeed in foreign markets.

D. Standardization decreases product​ design, manufacturing, and marketing costs.

Which of the following uses a​ sense-and-respond philosophy to promote a​ customer-centered marketing​ orientation? A. The societal marketing concept B. The product concept C. The production concept D. The marketing concept E. The selling concept

D. The marketing concept

Companies such​ as IBM, Walmart, and Google now look beyond economic gain​ and, in their marketing​ strategies, they also consider the​ well-being of​ customers, the depletion of natural​ resources, the viability of​ suppliers, and the interests of the local community. This reflects which marketing​ philosophy? A. The selling concept B. The marketing concept C. The product concept D. The societal marketing concept E. The production concept

D. The societal marketing concept

What is the overall purpose of​ differentiation? A. To allow a firm to offer the lowest prices B. To divide the market into smaller groups of buyers C. To market high quality products D. To create superior customer value E. To select the segment or segments to enter

D. To create superior customer value

What is the purpose of a value​ proposition? A. To determine whom a company will serve with its market offerings. B. To determine the prices a company will charge for its products C. To balance customer management with demand management D. To differentiate and position a market offering in the marketplace E. To define the target market

D. To differentiate and position a market offering in the marketplace

Charles​ Revson, who started​ Revlon, once said​ "We sell​ hope." Revson was defining the​ __________ of Revlon cosmetics. A. quality level B. design C. branding D. core customer value E. augmented product

D. core customer value

​A(n) __________ is used to determine the benefits that target customers value and how customers rate the relative value of various​ competitors' offers. A. benchmark B. competitive intelligence system C. competitive analysis D. customer value analysis E. blue-ocean strategy

D. customer value analysis

Effective positioning is based on​ __________. A. identifying groups of consumers with similar needs B. choosing which segments to profitably serve with a market offering C. market share D. differentiation E. eye level​ in-store shelf space

D. differentiation

Strategically, a company may phase out or sell an SBU. This is known as​ __________. A. building B. harvesting C. milking D. divesting E. holding

D. divesting

Age, personality, buying​ style, and job position are​ __________ factors that can influence the business buying decision process. A. cultural B. organizational C. economic D. individual E. interpersonal

D. individual

According to the​ text, the issue of ethics presents special challenges for​ __________. A. service providers B. domestic marketers C. small businesses D. international marketers E. ​not-for-profit organizations

D. international marketers

Engaging customers and managing profitable customer relationships is the simplest definition of​ ________. A. value B. a market C. advertising D. marketing E. satisfaction

D. marketing

Marketing was once understood in the sense of making a sale.​ Today, marketing is understood in the new sense of​ __________. A. telling customers what they need B. not engaging customers C. eliminating promotion D. satisfying customer needs E. developing innovative products.

D. satisfying customer needs

Furniture, major​ appliances, clothing, and hotel services are classified as​ __________ products. A. unsought B. specialty C. industrial D. shopping E. convenience

D. shopping

Mothers Against Drunk Driving​ (MADD) runs advertising campaigns aimed at stopping drunk driving and preventing underage drinking. This is an example of​ __________. A. organization marketing B. corporate image marketing C. place marketing D. social marketing E. person marketing

D. social marketing

Which of the following is a​ business-to-business market​ transaction? A. The U.S. government buying supplies for military personnel B. A hospital buying medical supplies C. A family vacationing at Disneyland D. A person buying their weekly groceries E. A grocery store buying cereal from​ Kellogg's

E. A grocery store buying cereal from​ Kellogg's

A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your​ colleague? A. A segment is attractive if there are substitute products available. B. If there are powerful buyers in the segment it will drive prices up. C. If a segment is larger than others it should always be targeted. D. Fast growing segments are always attractive. E. Carefully consider the degree of competition and ease of entry into the segment.

E. Carefully consider the degree of competition and ease of entry into the segment.

What is the first thing a company does when analyzing​ competitors? A. Select which competitors to avoid. B. Assess the​ competitor's objectives and strategies. C. Assess​ competitor's strengths and weaknesses. D. Select which competitors to attack. E. Identify the​ company's competitors.

E. Identify the​ company's competitors.

Ford offers a wide variety of cars that range from around​ $14,000 to more than​ $54,000. This reflects which economic​ factor? A. Income level B. Tax rates C. Interest rates D. Cost of living E. Income distribution

E. Income distribution

According to the​ text, which customer and competitor orientation should​ company's today​ practice? A. Competitor-centered B. Customer-centered C. Product-centered D. Profit-centered E. Market-centered

E. Market-centered

Which of the following correctly defines the institutional​ market? A. Manufacturers of consumer goods and services B. The buying centers within organizations that make buying decisions C. All purchases made by the government D. Resellers such as retailers and wholesalers E. Organizations that provide goods and services to people in their care

E. Organizations that provide goods and services to people in their care

Companies such as Walmart and Spirit Airlines offer lower prices than competitors. Which competitive strategy are they​ using? A. Price leadership B. Differentiation C. Focus D. Middle-of-the-road E. Overall cost leadership

E. Overall cost leadership

Which of the following statements regarding the current demographic environment is​ correct? A. There are few differences between different generational groups. B. The combined size of the Millennials and Gen Z has resulted in the U.S. population getting younger. C. The ethnic diversity of the U.S. population should remain stable in the years to come. D. The LGBT community is not an attractive target for marketers. E. The U.S. population is rapidly getting older.

E. The U.S. population is rapidly getting older.

What are perceptual positioning maps used​ for? A. To show consumer perceptions of an individual brand on important buying dimensions B. To show consumer perceptions of different brands on a single product dimension C. To compare a​ company's profitability with the profitability of competitors D. To find the best retail locations for a brand E. To show consumer perceptions of different brands on important product dimensions

E. To show consumer perceptions of different brands on important product dimensions

The primary goal of consistently delivering superior value is to​ ________. A. keep costs down B. maximize profits C. expand into global markets D. avoid the need to advertise E. build profitable customer relationships

E. build profitable customer relationships

The BCG matrix classifies products which have a high market share in a low growth market as​ __________. A. cash stars B. stars C. dogs D. question marks E. cash cows

E. cash cows

One recent development in generating new product ideas is for a company to invite broad communities of people —such as​ employees, customers, and even the public at — into the innovation process. This is known as​ __________. A. crowdfunding B. test marketing C. intrapreneurial idea generation D. concept testing E. crowdsourcing

E. crowdsourcing

The total combined lifetime value of a​ company's current and potential customers is called​ __________. A. share of customer B. customer loyalty C. market share D. customer retention E. customer equity

E. customer equity

Companies should take a holistic approach to new product development. This means that the process should be​ __________. A. customer-centered, compartmentalized, and systematic B. compartmentalized, sequential, and​ company-centered C. compartmentalized, team-based, and​ company-centered D. customer-centered, team-based, and haphazard E. customer-centered, team-based, and systematic

E. customer-centered, team-based, and systematic

Because not all managers have fine moral​ sensitivity, companies should​ __________. A. hire more ethically sensitive managers B. leave ethical decisions up to workers C. let upper level managers handle all ethical decisions D. rely on legalities to resolve ethical decisions. E. develop corporate marketing ethics policies

E. develop corporate marketing ethics policies

Services cannot be​ seen, tasted,​ felt, heard, or smelled before they are bought. In other​ words, services are​ __________. A. variable B. inseparable C. tangible D. perishable E. intangible

E. intangible

Market offerings include​ ________. A. needs, wants, and demands B. ​products, services, and exchanges C. value, satisfaction, and markets D. demands, exchanges, and relationships E. products, services, and experiences

E. products, services, and experiences

When a firm starts up or buys a business outside of its current product line and​ markets, it is pursuing which growth​ strategy? A. allow other departments to not be concerned with marketing B. work to add customer value so other departments do not have to C. eliminate the need to coordinate marketing with other departments D. focus on the customer while other departments formulate strategies E. provide a guiding philosophy

E. provide a guiding philosophy

Which of the following is true regarding the technological environment? a) companies must keep up with changes in technology or risk being left behind b) government regulation has no impact on applying new technologies to products c) as products and technology become more complex, safety becomes less of a concern d) the pace of technological change is slowing down e) changes in technology are always beneficial to consumers and society

a) companies must keep up with changes in technology or risk being left behind

Customer relationship building blocks consist of _____________. a) customer value and satisfaction b) product and place c) the four Ps of marketing d) price and promotion e) social and product marketing

a) customer value and satisfaction

The most important actors in the company's microenvironment are________________. a) customers b) the company itself c) suppliers d) competitors e) publics

a) customers

After defining the problem and​ objectives, what is the next step in the marketing research​ process? a) develop the research plan b) report the findings c) analyze the data d) collect the data e) implement the plan

a) develop the research plan

Although a "customer-centered" firm seeks to deliver high customer satisfaction relative to competitors, it __________________. a) does not attempt to maximize customer satisfaction b) attempts to gain customer satisfaction at all cost to ward off competition c) attempts to maximize customer satisfaction d) can increase satisfaction by lowering prices compared to its competitors e) can increase satisfaction by increasing its services compared to its competitors

a) does not attempt to maximize customer satisfaction

Companies setup​ __________ which allow key customers and​ value-network members to access​ product, account, and other data anytime they need to. a) extranets b) intranets c) data warehouses d) websites e) wireless networks

a) extranets

To develop needed​ information, marketing information systems utilize​ __________. a) internal databases, marketing intelligence, and marketing research b) marketing managers, information users, and internal databases c) internal databases, big data, and market research d) marketing intelligence, marketing research, and marketing environment e) internal databases, marketing research, and marketing managers

a) internal databases, marketing intelligence, and marketing research

Konica/Minolta focuses one of its business units on medical and healthcare groups. These groups make up on of Konica/Minolta's ___________________. a) market segment b) positioning c) differentiation d) marketing mix e) market analysis

a) market segment

______________ involves evaluating each market segments attractiveness and selecting one or more segments to enter. a) market targeting b) market differentiation c) market positioning d) marketing mix e) market segmentation

a) market targeting

Geographically, many Americans have been moving to small cities located beyond congested metropolitan areas, such as Minot, North Dakota; Boone, North Carolina; Traverse City, Michigan; and Concord, New Hampshire. These small cities are called _____________. a) micropolitan areas b) outlying areas c) urban areas d) rural areas e) suburbs

a) micropolitan areas

Which of the following statements about online research is​ correct? a) online surveys generally have higher response rates than those conducted by mail or phone b) experiments cannot be conducted online c) it is more expensive to conduct online research than mail, phone, or personal interviews d) online research is only feasible for large companies e) the internet is especially well suited to qualitative research

a) online surveys generally have higher response rates than those conducted by mail or phone

Prior to changing its product offerings and realigning its business units, managers at Konica/Minolta most likely first performed which of the following to determine those units that were profitable and those that should be phased out or realigned? a) perform a portfolio analysis b) define the company mission c) set company goals d) set company objectives e) create specific marketing strategies

a) perform a portfolio analysis

By defecting to Canada, Burger King was most likely reacting to which marketing environment variable? a) political b) natural c) economic d) technological e) social

a) political

The major activity in strategic planning is the analyses of a business _____________. a) portfolio b) experience c) unit d) plan e) goal or objective

a) portfolio

The ______________ concept holds that consumers will favor products that are available and affordable. a) production b) selling c) product d) societal marketing e) marketing

a) production

Which one of the following statements about marketing research in small businesses and nonprofit organizations is​ correct? a) the research methods of small businesses and nonprofits are less complex and less costly, but they sill must be conducted carefully b) surveys are the only research approach that can be effectively used by small businesses and nonprofits c) only large companies can afford to conduct marketing research d) small companies and nonprofits do not need marketing information e) good research requires large sample sizes which are not feasible for small businesses and nonprofits

a) the research methods of small businesses and nonprofits are less complex and less costly, but they sill must be conducted carefully

Which group of customers are referred to as "barnacles"? a) those who are highly loyal but not very profitable b) those who are both profitable and loyal c) those who are potentially profitable but not loyal d) those who show low potential profitability and little projected loyalty

a) those who are highly loyal but not very profitable

Many companies are going beyond government regulation and are developing strategies and practices that create a world economy that the planet can support indefinitely. This represents ______________. a) environmental marketing b) environmental sustainability c) sustained marketing d) green marketing e) pollution control

b) environmental sustainability

The most common form of marketing organization is _________________. a) product management organization b) functional organization c) customer management organization d) product organization e) geographic organization

b) functional organization

To learn more about the relationships and patterns contained in the vast amounts of data they​ collect, marketers use​ . a) touch points b) marketing analytics c) big insights d) customer relationship management e) big data analytics

b) marketing analytics

Kevin Kern described Konica/Minolta's use of commercials, newspapers, social media, and other media to control the marketing message. Which marketing concept was he referring to? a) company objectives and goals b) marketing mix c) product development d) diversification e) marketing strategy

b) marketing mix

Which of the following is a result of the recent Great Recession? a) reduced regulatory intervention b) move toward frugality c) increased spending on technology d) growth of societal marketing

b) move toward frugality

A sizable and growing market of consumers are seeking products such as​ natural, organic, and nutritional​ foods, fuel-efficient​ cars, and alternative medicines. This trend is attributed to which cultural​ value? a) people's views of organizations b) people's views toward nature c) people's views of themselves d) people's views of others e) people's views toward society

b) people's views toward nature

Competitive marketing intelligence uses​ __________ data sources. a) internal b) publicly available c) competitor's internal d) private e) expensive

b) publicly available

According to the text, what is the single most important demographic trend in the United States today? a) a better educated population b) the changing age structure of the population c) increasing diversity d) geographic population shifts e) changes in the structure of the american family

b) the changing age structure of the population

Which of the following statements regarding the use of marketing​ information, customer relationship management​ (CRM), and analytics is​ correct? a) marketing analytics is not used in customer relationship management b) there are risks involved in using big data analytics and CRM c) marketing information is of great value even if it is not used for decision making d) social media information cannot be analyzed using marketing analytics e) technology alone can build profitable customer relationships

b) there are risks involved in using big data analytics and CRM

Which of the following is an advantage to using internal databases for​ information? a) internal information is accurate and complete b) they can be accessed quickly and cheaply c) internal information sources are easy to manage d) the information stored in internal databases is always current e) internal information in a form that is useful for making marketing decisions

b) they can be accessed quickly and cheaply

One new technology marketers are adopting is radio frequency identification (RFID). What does this technology do? a) Identifies spam email before it is received b) tracks products and customers at various points in the distribution channel c) weighs products at the point of purchase d) allows SmartPhones to send and receive text e) Scans barcodes at point of purchase

b) tracks products and customers at various points in the distribution channel

A brand's _____________ involves the set of benefits or values it promises to deliver to consumers. a) target marketing b) value proposition c) market segmentation d) customer management e) marketing management

b) value proposition

Companies who passively accept the marketing environment​ __________. a) develop strategies to change the environment b) view it as uncontrollable and do not attempt to change it c) assume that their strategic options are not bound by the current environment d) use lobbying to influence legislation e) form contractual agreements to control their distribution channels

b) view it as uncontrollable and do not attempt to change it

How did burger king react to the higher tax rate in the United States? a) by taking action to change the higher tax rates b) by passively accepting it c) by taking a proactive stance d) by adapting to it e) by ignoring it

c) by taking a proactive stance

Which step of the marketing process lets the company reap the rewards of its strong customer relationship? a) building customer relationships b) understanding the marketplace and customer needs c) capturing value from customers d) designing a customer driven marketing strategy

c) capturing value from customers

P&G launched their​ "Tide Loads of​ Hope" program, which provides mobile laundromats to families in​ disaster-stricken areas.​ P&G washes,​ dries, and folds clothes for these families free of charge. This is an example of​ __________. a) adhering to government regulation b) environmental sustainability c) cause-related marketing d) being socially irresponsible e) putting profits ahead of social responsibility

c) cause-related marketing

Fathers were once ignored or portrayed as dolts in advertising, however today's advertisers are showing more caring and capable dads. This reflects which demographic trend? a) geographic shifts in population b) increased ethnic diversity c) changing dynamics in the American family d) an aging population e) a better educated population

c) changing dynamics in the American family

Being proactive toward the marketing environment means that a​ __________. a) company watches the environment and reacts to changes b) company passively accepts the way things are c) company develops strategies to change the environment d) company avoids threats e) company watches the environment and follows what competitors doe

c) company develops strategies to change the environment

Nielsen gathers data on millions of people to help marketers gain​ __________ to use to create strategic marketing decisions. a) marketing information systems b) internal databases c) customer insights d) competitive marketing intelligences e) big data

c) customer insights

The first step in strategic planning involves __________. a) designing a business portfolio b) developing a marketing plan c) defining the company's mission d) setting objectives and goals e) developing functional plans

c) defining the company's mission

A marketer who wishes to gain insight into the demographics and attitudes of consumers who buy their product would likely ask Nielsen to perform which type of​ research? a) exploratory research b) secondary data c) descriptive research d) causal research e) primary data

c) descriptive research

Defining the problem and research objectives is the​ __________ step in the marketing research process. a) fourth b) third c) first d) second e) fifth

c) first

Much of​ Pinterest's success is due to how they used marketing information to​ __________. a) change the name of their website b) understand that their site was not useful to businesses c) identify a unique customer insight d) send targeted email to key customers e) increase their profits

c) identify a unique customer insight

Which of the following statements about information and customer insights is​ correct? a) customer insights have little impact on building customer relationships b) customer insights are relatively easy to obtain c) information to gain customer insights comes from a wide variety of sources d) customer insights are useful but do not give companies a competitive advantage e) to gain useful customer insights, more data is better data

c) information to gain customer insights comes from a wide variety of sources

Some retailers use mannequins with cameras hidden in one eye to record customer demographics and shopping behavior in order to serve them better. This raises ethical concerns in terms of​ __________. a) customer harassment b) improper sampling procedures c) intrusions on consumer privacy d) the misuse of research findings e) deceptive advertising

c) intrusions on consumer privacy

Which of the following statements is true regarding public policy and government regulation? a) when public policy is developed, the government does not consider what is good for society; it focuses only on business b) marketers can safely ignore government laws and regulation because they are rarely enforced c) legislation affecting business around the world has increased steadily over the years d) government regulation does not get involved in how companies compete with one another e) government regulation has no impact on international marketing

c) legislation affecting business around the world has increased steadily over the years

The _________________ consists of larger societal forces that affect how a company engages and serves its customers. a) business environment b) competitive environment c) macroenvironment d) microenvironment e) customer environment

c) macroenvironment

Konica/Minolta hopes to create customer value through its mission, strategic goals and objectives, marketing mix, and other marketing tools. This collective effort is known as Konica/Minolta's ____________________. a) market targeting b) market differentiation c) marketing strategy d) market segmentation e) marketing mix

c) marketing strategy

______________ marketing is perhaps the fastest-growing digital marketing platform. a) real-time b) sustainable c) mobile d) social media e) online social

c) mobile

Which of the following statements about big data is​ correct? a) Big data actually refers to very small data sets b) analyzing big data will always lead to useful customer insights c) one result of big data is that marketing managers are often overloaded with information d) big data is very important because marketers today need more information to make good decisions e) analyzing big data is a very easy task

c) one result of big data is that marketing managers are often overloaded with information

When survey data must be collected quickly, the best data collection technique would be: a) group interviewing b) telephone surveying c) online surveying d) mail surveying

c) online surveying

Which of the following best describes a marketing information system​ (MIS)? a) data obtained from the internet that is used to gain customer insights b) the company databases which store information c) people and procedures that are used to manage information to generate and validate actionable customer and market insights d) the hardware, software, and networks that are used in collecting and analyzing data e) the marketing team that makes decisions based on customer insights

c) people and procedures that are used to manage information to generate and validate actionable customer and market insights

What are the two main research instruments used by marketing researchers in primary data​ collection? a) questionnaires and surveys b) questionnaires and panels c) questionnaires and mechanical devices d) the telephone and the internet e) questionnaires and internet

c) questionnaires and mechanical devices

Which of the following correctly lists marketing intermediaries? a) resellers, physical distribution firms, marketing services agencies, and customer markets b) suppliers, competitors, resellers, and publics c) resellers, physical distribution firms, marketing services agencies, and financial intermediaries d) The company itself, competitors, suppliers, and customer markets e) resellers, physical distribution firms, customer markets, and competitors

c) resellers, physical distribution firms, marketing services

Which of the following statement regarding competitive marketing intelligence is​ correct? a) companies should not be concerned about competitor's accessing publicly available information about them b) marketing intermediaries are not a good source of competitive marketing intelligence c) the goal of competitive marketing intelligence is to improve strategic decision making d) marketing intelligence information is not available from the US government e) monitoring a competitor's website is unethical

c) the goal of competitive marketing intelligence is to improve strategic decision making

Which of the following statements regarding the current demographic environment is correct? a) there are few differences between different generational groups b) the ethnic diversity of the U.S. population should remain stable in the years to come c) the combined size of the millennials and gen z has resulted in the U.S. population getting younger d) The US population is rapidly getting older e) The LGBT community is not an attractive target for marketers

d) The US population is rapidly getting older

Which of the following correctly lists actors in a company's microenvironment? a) publics, demographics, suppliers, competitors b) suppliers, marketing intermediaries, technology, publics c) suppliers, marketing intermediaries, competitors, culture d) competitors, marketing intermediaries, suppliers, publics e) the economy, publics, competitors, suppliers

d) competitors, marketing intermediaries, suppliers, publics

What is the first step in marketing research​ process? a) develop a research plan b) interpret the findings c) report the findings d) define the problem e) implement the research plan

d) define the problem

Survey research is the approach best suited for gathering​ __________. a) exploratory research b) causal research c) ethnographic research d) descriptive research e) experimental research

d) descriptive research

The objective of​ __________ research is to gather preliminary information that will help define the problem and suggest hypotheses. a) secondary b) primary c) descriptive d) exploratory e) causal

d) exploratory

What are the three types of research​ objectives? a) exploratory, formal, and casual b) exploratory, casual, and experimental c) casual, experimental, and hypothetical d) exploratory, descriptive, and causal e) exploratory, descriptive, and definitive

d) exploratory, descriptive, and causal

Companies can allow key customers and​ value-network members to access​ account, product, and other data through​ __________. a) big data b) intranets c) CRM d) extranets e) MIS

d) extranets

Which generational age group is now forming brand relationships and represent tomorrow's markets? a) gen X b) Millennials c) baby boomers d) gen Z e) seniors

d) gen Z

Which of the following statements discussing big data is not​ true? a) companies that effectively tap the available glut of data can gain rich, customer insights b) data can be collected from blogs, tweets, and social media c) big data provides a lot more information than the managers can digest d) marketers can access and easily sift through the data once it is available e) companies can gain timely customer info

d) marketers can access and easily sift through the data once it is available

Burger King's decision to defect to Canada indicates that it actively scans the ______________. a) marketing intermediaries b) competitors c) company d) marketing environment e) suppliers

d) marketing environment

MIS begins and ends with information users. Which of the following statements is not an advantage of​ MIS? a) mis helps users in making management decisions b) mis interacts with the information users to assess information needs c) mis helps users to anlayze and use the information to develop customer insights d) mis may provide information to external partners, such as suppliers, resellers, or marketing services agencies e) mis interacts with the marketing environment to develop information

d) mis may provide information to external partners, such as suppliers, resellers, or marketing services agencies

Which is the fastest-growing digital marketing platform? a) social marketing b) not-for-profit marketing c) sustainable marketing d) mobile marketing e) social media marketing

d) mobile marketing

Nielsen gathers consumer insights through a variety of​ ways, including consumer tracking and panels. Which type of research is Nielsen engaged in during these​ examples? a) mail questionnaires b) telephone surveys c) causal research d) online marketing research e) focus groups

d) online marketing research

In SWOT analyses, the favorable factors or trends in the external environment that the company may be able to exploit to its advantage are referred to as _______________. a) weaknesses b) threats c) targets d) opportunities e) strengths

d) opportunities

The specific data that Nielsen provides to its clients for a specific purpose that has not been completed​ before, is most likely which type of​ data? a) secondary b) exploratory c) descriptive d) primary e) causal

d) primary

Under the previous CEO, Konica/Minolta's management determined it was time to invest in _______________ by offering new products to the technology market. a) diversification b) partner relationship management c) market penetration d) product development e) market development

d) product development

________ concept holds that consumers will favor products that are available and highly affordable. a) product b) selling c) marketing d) production

d) production

One important reason business legislation is enacted is to ____________. a) ensure that competition is unregulated b) ensure that companies make profits c) remove legal regulations from a free market economy d) protect consumers from unfair business practices e) provide legal guidelines for businesses and marketers without actually enforcing them

d) protect consumers from unfair business practices

MIS interacts with information users in several ways which include all of the following except​ __________. a) helping to develop customer insights b) assessing information needs c) providing marketing intelligence activities d) providing concise information e) helping to conduct marketing research

d) providing concise information

In the final step of the five-step marketing model, companies _________________ a) work to understand consumers b) capture customer value c) build strong customer relationships d) reap the rewards of creating customer value e) create customer value

d) reap the rewards of creating customer value

The marketing research industry is considering several options for responding to intrusion and privacy​ issues, which includes all of the following except​ __________. a) "your opinion counts" initiatives b) appointing a privacy officer c) providing value in exchange d) sharing information widely e) "respondent bill of rights" initiatives

d) sharing information widely

A(n) __________ is defined as any contact between a customer and a company. a) service call b) sales call c) satisfaction survey d) touch point e) purchase

d) touch point

Each department can be thought of as a link in the company's ______________. a) marketing mix b) market segmentation c) delivery network d) value chain e) marketing management

d) value chain

Demography studies statistics that include ___________________. a) age, gender, government regulation, and race b) the economy, technology, family, and age structure of the population c) population size, density, income distribution, and culture d) age, race, income distribution, and lifestyle e) age, gender, race and occupation

e) age, gender, race and occupation

Which of the following is true of environmental sustainability? a) energy-efficient operations are unrelated to sustainability b) following government regulations is sufficient to support sustainability c) sustainability requires trade-offs between present needs and needs of future generations d) sustainability is important, but more and more companies are focusing their core mission on profits e) companies are learning that engaging in sustainable practices is good for business

e) companies are learning that engaging in sustainable practices is good for business

Nielsen is engaged in the collection and analysis of information about​ consumers, competitors, and developments in the marketplace. This systematic monitoring is known as​ __________. a) customer insight b) internal databases c) marketing information systems d) big data e) competitive marketing intelligence

e) competitive marketing intelligence

__________ is the systematic​ monitoring, collection, and analysis of publicly available information about​ consumers, competitors, and developments in the marketplace. a) USAA database b) Competitor database c) internal database d) big data e) competitive marketing intelligence

e) competitive marketing intelligence

Sending observers to watch and interact with consumers in their​ natural environment is known as​ __________. a) a focus group b) on-site research c) experimental research d) survey research e) ethnographic research

e) ethnographic research

______________ is the act of obtaining a desired object from someone by offering something in return. a) satisfaction b) demand c) want d) need e) exchange

e) exchange

Small businesses and​ not-for-profit organizations can obtain good marketing insights through​ __________. a) causal research b) big data c) MIS d) observation research e) exploratory research

e) exploratory research

Ford offers a wide variety of cars that range from around 14,000 dollars to more than 54,000 dollars. This reflects which economic factor? a) interest rates b) income level c) cost of living d) tax rates e) income distribution

e) income distribution

Using marketing information to gain customer insights is of little value unless​ __________. a) it is obtained as cheaply as possible b) marketers gather as much information as possible c) it increases company profits d) it comes exclusively from big data e) it is used to make better marketing decisions

e) it is used to make better marketing decisions

Within the growth-share matrix, "cash cows" are ______________. a) low-growth, low-share business units in high-growth markets b) high-share businesses in slow-growth markets c) high-growth, high-share businesses or products d) low-growth, low-share businesses and products in high-growth markets e) low-growth, high-share businesses or products

e) low-growth, high-share businesses or products

Which of the following statements regarding generational marketing is correct? a) marketers see baby boomers as one homogeneous group b) the most effective way to segment by age is to use birth date as the basis c) Marketers see see gen Z as one homogeneous group d) each generation is typically at the same socioeconomic level e) marketers need to form more precise age-specific segments within each generational group

e) marketers need to form more precise age-specific segments within each generational group

In the United​ States, patriotism has been increasing for the past 20 years. Marketers have responded with increased use of the​ "Made in​ America" appeal and patriotic themes. This reflects which aspect of​ culture? a) people's views of others b) people's views of nature c) people's views of themselves d) people's views of organizations e) people's views toward society

e) people's views toward society

Which of the following is an important in the natural environment that marketers should be aware of? a) lack of consumer concern for the environment b) cost decreases for nonrenewable resources c) the increase in availability of raw materials d) decreased pollution e) products that require scarce resources will face large cost increases

e) products that require scarce resources will face large cost increases

Several individuals and groups, including the President of The United States, were outraged that Burger King defected to Canada. People such as these are included in which of the following aspects of Burger King's marketing environment? a) marketing intermediaries b) suppliers c) macroenvironment d) competitors e) publics

e) publics

Which of the following statements regarding conducting marketing research in a foreign country is​ correct? a) globalization has slowed down, so international research is no longer necessary b) language translation will be easy c) good secondary data is easy to find in most foreign markets d) consumers in foreign markets generally enjoy participating in marketing research e) reaching respondents in other parts of the world is more difficult than it is in the US

e) reaching respondents in other parts of the world is more difficult than it is in the US