MKTG 350 - WORSHAM EXAM 1

How does a sustainable competitive advantage differ from a competitive advantage?

a sustainable competitive advantage is one that competitors cannot copy in the immediate future.

Which of the following is a collection of information arranged for easy access and retrieval?

database

After locating and defining problems or issues, the next step in the marketing research process is to _______.

design the research product

Mitch Ford was hungry and was trying to decide what to have for dinner. He thought about ordering a pizza from Domino's but decided instead to make Orville Redenbacher popcorn since he already had some in his apartment. In this case, Domino's and Orville Redenbacher popcorn are considered _______ competitors.

generic

Which of the following is a major source of cultural values?

the family

The Brandenburg family makes $7,000 per month. About $1,800 goes toward taxes and savings. They spend $5,200 on goods and services. Based upon the information in the text, about how much of their money goes toward marketing activities?

$2,600

Which of the following is a brand competitors for Dr. Pepper?

Coca-Cola

Which of the following represents a brand competitor to Southwest Airlines?

Delta Airlines

Which agency has the most influence over marketing activities?

FTC - Federal Trade Commission

Which of the following regulatory agencies has the greatest influence over marketing activities?

FTC - Federal Trade Commission

True or false: A marketing information system is customized computer software that aids marketing managers in decision making by helping them anticipate the effects of certain decisions.

False

True or false: A marketing strategy is stating what is to be accomplished through marketing activities using clear language. It should be measurable.

False

True or false: Conducting a SWOT analysis comes immediately before the establishment of corporate and business-unit strategies.

False

True or false: Customers consciously calculate the value of a product in benefits and costs for most purchases.

False

True or false: Evaluate the truthfulness of this statement: Strong ethical standards are necessary to completely eliminate misconduct from the organization.

False

True or false: Exploratory studies use relatively large sample sizes.

False

True or false: Individual values are more likely to influence organizational ethical decision making than organizational culture.

False

True or false: The Foreign Corrupt Practices Act in the United States is a bribery law that is more encompassing than the U.K. Bribery Act.

False

True or false: The major source of cultural values is religion.

False

True or false: The marketing implementation section of the marketing plan outlines how the company will achieve its objectives.

False

True or false: The marketing research process differs from country to country.

False

True or false: Videotaping consumers in-store is illegal because it violates consumer privacy.

False

Valerie works at a pharmaceutical firm that develops medicines for rare diseases. The company develops a new medication for a disease that very few people have. In fact, less than 100 people are said to have this disease in the entire country. As a result, the drug will be priced high, but the firm will work closely with insurance companies to get the medicine to the right people without sacrificing much revenue. Her friend Rick, who is taking business classes, tells her that this is too small to be a target market. Is Rick's statement true?

False

Which of the following institutions would be most likely to market an idea as their main product?

Greenpeace

Which of the following sentences is true about a marketing exchange?

It requires 4 conditions to take place

Which of the following statements about the marketing environment is FALSE?

Marketing environment forces are uncontrollable, so marketers do not plan for them.

_______ considers cases in which an advertiser challenges issues raised by the National Advertising Division (NAD) about an advertisement.

NARB - National Advertising Review Board

Which of the following is a consumer protection law?

Nutritional Labeling and Education Act

Which legislative action prohibits price discrimination that reduces competition among wholesalers or retailers and prohibits producers from giving disproportional services or facilities to large buyers?

Robinson-Patman Act

Which of the following do codes of ethics NOT do?

They take every situation into account.

True or false: A person can have a high income and little wealth.

True

True or false: A rule of thumb for resolving ethical and social responsibility issues is that if an issue can withstand open discussion that results in agreement or limited debate, an acceptable solution may exist.

True

True or false: It is possible for a customer to have a negative lifetime value.

True

True or false: Marketers can influence the political process through political action committees that solicit donations from individuals and then contribute those funds to candidates running for political office.

True

True or false: Most of the largest marketing research firms derive a significant portion of their revenues from research conducted outside of the United States.

True

True or false: Refer to Scenario 4.2. Assume that the Food and Drug Administration just discovered that this new drug is a lot riskier than first thought. Anyone who takes over a certain amount can suffer from potential heart problems. This has become a product issue.

True

True or false: The challenge is not in collecting big data; it is how to use it effectively.

True

True or false: The degree of centralization falls under organizing the market unit—a major part of managing marketing implementation.

True

Many marketers collecting information turn to LexisNexis. LexisNexis contains articles on a variety of topics as well as cases and news documents. LexisNexis would most likely be considered which of the following?

a database

According to your text, what is typically the first sign of a problem that could prompt the marketing research process?

a departure from some normal function

The real value in marketing research is measured by improvements in _______.

a marketer's ability to make decisions

Samue spent $500 on a new television set. How much of this price is likely to go toward marketing expenses?

about $250

If other organizational members approve of the activity and it is legal and customary within the industry, chances are that the activity is _______ from both an ethical and a social responsibility perspective.

acceptable

Which of the following is the final step in establishing an implementation timetable?

assigning responsibility for completing each activity to one or more employees, teams, or managers

Which of the following is the last step of establishing a marketing implementation timetable?

assigning responsibility for completing each activity to one or more employees, teams, or managers

A lawsuit was filed against Naked Juice because of its claims that it is "natural." The lawsuit claimed that because it contained synthetic ingredients, it did not fit the definition of "natural" and was therefore misleading. Naked Juice agreed to drop the "natural" claim. According to critics, Naked Juice was violating consumers' right to _______.

be informed

Which of the following allows marketers to sift through large amounts of information to gather unique insights that would not necessarily have been observable through other methods?

big data

Which of the following creates the greatest privacy issues?

big data

Which of the following types of competition are geared toward market products with similar features and benefits to the same customers at similar prices?

brand competitors

Marketing cost analysis _____________.

breaks down and classifies costs to determine which are associated with specific marketing efforts

Which of the following is NOT a component of the marketing plan?

business analysis

People are sometimes more willing to buy if they have the ________ _________.

buying power

Proactive organizations often seek to influence the political forces of the environment through _______ and _______.

campaign contributions; lobbying

Procter & Gamble's Tide laundry detergent has a predominant share of the detergent market in the United States. However, the detergent market has reached market saturation in the United States. With this information, what type of product is Tide based upon the Boston Consulting Group's market growth/market share matrix?

cash cow

Every year Walgreens sells red noses and other merchandise for Red Nose Day, which is a national fundraising campaign run by Comic Relief USA, a non-profit devoted to raising money and awareness to end child poverty. This event that Walgreens hosts each year is most likely which of the following?

cause-related marketing

Marty works at an organization with a clear chain of command. The major decisions are relegated to top managers. Marty and his co-workers have strict performance standards. Managers at his organization monitor the work of employees to make sure they are staying on track. This is an example of a ______________ organization.

centralized

Chantel works at Coca-Cola. To make the required sales number, Chantel sent more Coca-Cola products to their distributors than what they asked for. She did this right before the accounting period. She knew that even if they sent back the extra product, it would be after the numbers were reported. This is an example of what type of distribution issue?

channel stuffing

Which of the following is likely the most important decision a company makes during the strategic planning process?

choosing a target market

After designing the research project, the next step for the marketing researcher is to

collect data

The marketing environment includes _______, economic, political, legal and regulatory, technological, and _______ forces.

competitive; sociocultural

Mothers Fighting Added Sugar is sending emails to companies, posting on Facebook and Instagram, lobbying government agencies, running a petition on Change.org, and boycotting companies whose activities they deem irresponsible. This best illustrates _______.

consumerism

__________ involves organized efforts by individuals, groups, and organizations to protect consumers' rights.

consumerism

GameStop operates video game, consumer electronics and wireless services around the globe in more than 7,200 stores worldwide. According to its website, "GameStop is committed to delivering innovation to consumers anywhere, anytime and anyway they want it." GameStop enables its consumers to trade-in games and purchase new, pre-owned, digital or physical video game titles and offers the latest in hardware and accessories. The Chief Marketing Officer of GameStop would most likely be concerned with tracking which of the following to help forecast sales volume in the future?

consumers' discretionary income

Subaru developed a new luxury car model, but after performing some market tests, it realized that it was pricing its vehicles too high, even for the luxury market. Subaru had to make some changes in its marketing mix. Unfortunately, it made the mistake of launching its product right when a recession hit. As unemployment rose, sales of luxury products such as Subaru's new luxury vehicle tend to decrease. In this case, the pricing of its vehicle is a(n) ____________ force for Subaru, while the economic downturn is a(n) _____________ factor.

controllable; uncontrollable

The unique symbols, personalities, and philosophies that support all corporate activities including strategic planning and marketing are best described as _______.

corporate identity

Soda companies are worried because sales have fallen flat. People today are more concerned about their sugar intake and want to be healthier. This reflects a change in ____ ___.

cultural values

Libby is part of an online group of people who act as sounding boards for new ideas from one of her favorite companies. Libby does not interact much with the other people in her group, but she provides her own insights about proposed products. Libby is part of a(n) _______.

customer advisory board

Which of the following equations describes customer value?

customer value = customer benefits - customer costs

Ethics relates to individual and group decisions whereas social responsibility _______.

deals with the total effect of marketing decisions on soeciety

Decision-making authority is delegated as far down the chain of command as possible in a(n) _______.

decentralized organization

Marketers at Coca-Cola are exploring why sales of soft drinks have been declining in recent years, but sales of product competitors like bottled water and tea are rising. To understand the characteristics of this phenomenon in order to identify potential strategies to reverse the trend, they should conduct _______.

descriptive research

Olivia works at Ginger, a woman's clothing store. Ginger noticed that while the store was popular with women of all ages, it was selling few of its jeans to females over 45. While they bought tops, shorts, and dresses, rarely any sales from this group of females included jeans. In contrast, Ginger's jeans were highly popular among those under 45. Ginger would like to conduct research to see why this is so. What type of research will Ginger likely conduct?

descriptive research

Which marketing research process step requires formulating a hypothesis and determining what type of research is most appropriate for testing it?

designing the research product

Income that is available for spending and saving after an individual has purchased the basic necessities of food, clothing, and shelter is known as __________ _________.

discretionary income

________ _________ is a ready source of buying power.

disposable income

During the holiday season, a bluetooth speaker was in such high demand that it sold out quickly at a local Walmart. When Walmart tried to order more, it learned that the suppliers had so many orders to fill that it would not be able to fill Walmart's order for 2 weeks. What type of marketing mix variable does this problem involve?

distribution

Whether fluctuating rapidly or slowly, environmental forces are always __________.

dynamic

The _______ of technology involves the constant change that challenges every aspect of our society.

dynamics

Charles works as a marketer at Microsoft. He has just spent the last few weeks collecting information about environmental forces that will impact computer industry. The time has come to try and make sense of this data and gather insights which he hopes will improve the company's marketing strategy in relation to competitors. Which type of activity is Charles working on?

environmental analysis

Refer to Scenario 2.5. Paul is at the stage of his marketing plan where he needs to gather information about his firm's situation with respect to the market. A major part of this is his assessment of target markets. Which section is he about to write?

environmental analysis

Which of the following involves observation; secondary sources such as business, trade, government, and general-interest publications; and marketing research?

environmental scanning

_______ ___________ is the process of collecting information about forces in the marketing environment.

environmental scanning

It is a year later. Jessica's manager decided that the company would develop a salsa business. Jessica has been in a flurry of activity since then. Not only did the company have to invest in a building and equipment, but she has had to develop marketing strategies for the new salsa business. The marketing strategies are now complete and ready to be put into action. Jessica was placed in charge of marketing implementation. She has spent several months organizing the marketing unit, training employees, coordinating the marketing staff, developing a social media plan, and communicating the goals and objectives of the strategy. Refer to Scenario 2.4. What is next step Jessica should take to implement the marketing strategy?

establish a timetable for implementation

What is the first step for marketers in implementing the marketing concept?

establish an information system to discover customers' real needs

Which of the following is NOT one of the steps in strategic performance evaluation?

establshing a timetable for implementation

A __________ _________ is an identifiable problem, situation, or opportunity that requires an individual or organization to choose from among several actions that must be evaluated as right or wrong, ethical or unethical.

ethical issue

According to your text, a well-implemented _______ and a strong _______ result in the greatest decrease in ethical risks for an organization.

ethics program; corporate culture

Which of the following provides an overview of the entire marketing plan so that readers can quickly identify the key issues and their roles in the planning and implementation process?

executive summary

research allows marketers to make causal deductions about relationships.

experimental

Adeeb is part of a group of students who are working with a bakery to collect marketing research. The bakery wants to determine whether a new type of pastry would be successful. Adeeb's group decides to conduct a taste test and then have respondents fill out a survey about their thoughts. Questions would include whether they liked or disliked the pastry, what they liked or disliked about it, and whether they would purchase it at certain price points. Refer to Scenario 5.1. What type of research is Adeeb's team collecting

exploratory research

Which of the following has the main purpose of better understanding a problem or situation and/or helping to identify additional data needs or decision alternatives?

exploratory research

Which of the following statements is true about how our U.S. demographics are changing?

fertility rates are at their lowest

Experts recommend a two-pronged approach to international marketing research: (1) a detailed search for and analysis of secondary data; and (2) _______.

field research to refine a firm's understanding of specific customer needs and preferences

Procter & Gamble is thinking about developing a new brand of shampoo. Before it invests too many resources, however, it wants to gather consumer insights to determine what consumers are looking for in shampoo and whether its idea will be likely to catch on. It has brought together a group of 12 consumers. A moderator is present to direct discussion, but P&G is most interested in the unique insights it could collect through group interaction. This is known as a _______, which is a part of _______ research.

focus group; exploratory

Kraft Foods brings together multiple people to discuss a certain topic in a group setting led by a moderator for initial testing of different marketing strategies for new and existing products. This is best described as _______.

focus groups

Which of the following is NOT a purpose of marketing research?

gather random data

Research into marketing ethics suggests that the _______ associated with an issue, the more likely it will be recognized as an ethics issue and the more important it will be in making an ethical decision.

greater the consequences

_______ is a strategic process involving stakeholder assessment to create meaningful long-term relationships with customers while maintaining, supporting, and enhancing the natural environment.

green marketing

An ethical issue in the area of promotion is _______, which occurs when products are promoted as being more environmentally friendly than they really are.

greenwashing

Which of the following represents a generic competitor to Southwest Airlines?

greyhound bus system

Drake is performing a marketing research study on products that contain avocado as an ingredient. He believes this study will prove that consumers are increasingly attracted to avocados because of their rise in popularity on social media and reported connection to health benefits. Drake is developing a(n)

hypothesis

The real value of marketing research is measured by_______.

improved decision-making ability

Jose works in accounting. He was told by his supervisor that it was necessary to change some of the accounting to make company performance look better. Jose objected, so the CEO got involved and told Jose that it was necessary to keep the firm afloat. If the firm went under, then many people would lose their jobs. Jose also faced pressure from colleagues. In the end, Jose decided not to do what he was told and quit his job. Which factor most likely impacted his ethical decision the most?

individual values

Marketing environmental forces are often __________.

interdependent

Marketing research is the systematic design, collection, _______, and reporting of information to help marketers solve specific marketing problems or take advantage of marketing opportunities.

interpretation

Refer to Scenario 3.1. The Harvest Café promotes its restaurant as a farm-to-table eatery and lists the names of local farms such as Singley Farms on its menu. Its advertising strategy and menu listings lead consumers to believe that all menu items are locally sourced from farmers in its region. Kenisha Smith was dining at the restaurant and inquired about which farm had supplied the lamb for the lamb chop dish listed on the menu. The waiter didn't know so she asked the chef. The chef told the waiter that the lamb had been ordered from Sysco Foods and was frozen—not fresh nor locally sourced. The waiter told the customer who later filed a complaint with the Better Business Bureau (BBB). What action could the BBB take against the Harvest Café if its investigation revealed deceptive practices regarding locally sourced ingredients?

issue a warning to consumers through a local newspaper

Frito-Lay developed a bag for its chips that was biodegradable. While praised by environmentalists, soon it received many complaints that the bags were too loud when they crinkled. Frito-Lay ended up abandoning the packaging. What does this situation demonstrate about socially responsible behavior?

it can be difficult to balance all of society's demands

How does social responsibility differ from ethics?

it deals with the total effect of marketing decisions on society

What is the significance of the 2010 Supreme Court Decision Citizens United v. Federal Election Commission?

it ruled that the government is not authorized to ban corporate spending in candidate elections.

Ethical choices in marketing are most often made _______.

jointly

Which of the following is a disadvantage of being a first-mover in the market?

large outlays associated with creating a new product

The ability of competitors to achieve long-term competitive advantages by entering the market later and not being the first to offer a certain product in the marketplace is called _______.

late-mover advantage

Which of the following is most closely related to the political forces of the marketing environment?

legal and regulatory forces

Which of the following is used most often when the individuals in the sample are spread over a wide area and funds for the survey are limited?

mail survey

Consumers are most likely to remain anonymous through which survey method?

mail surveys

The government has provided tax credits toward individuals who purchase electric vehicles. This is an attempt to do which of the following?

make prices reflect the cost

Which of the following competitive growth strategies strives to increase sales of current products in new markets?

market development

Which of the following is based on the philosophy that a product's market growth rate and its market share are important considerations in determining marketing strategy?

market growth/market share matrix

When the right combination of circumstances and timing permits an organization to take action to reach a particular target market, there exists a(n) _______.

market opportunity

During which orientation (time period) are marketers most likely to adopt the marketing concept?

market orientation

ACME Corp. is identifying and using tools to measure and interpret the effectiveness of its marketing activities. This is best described as _______.

marketing analytics

_______ uses tools and data to measure and interpret the effectiveness of a firm's marketing activities.

marketing analytics

ACME Corp. is adopting a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities that its stakeholders expect of it. This best describes _______.

marketing citizenship

When McDonald's decided to eliminate artificial flavorings and preservatives from its vanilla ice cream, it was most likely responding to which of the following?

marketing environment forces

Principles and standards that define acceptable conduct in marketing as determined by various stakeholders are known as _______.

marketing ethics

Which of the following is a major benefit of marketing?

marketing knowledge enhances consumer awareness

Which of the following provides a uniform marketing vision for the firm and is the basis for internal communications?

marketing plan

ACME Corp. managers are engaged in the process of systematically designing, collecting, interpreting, and reporting of information to help solve specific marketing problems or take advantage of marketing opportunities. This approach is best described as _______.

marketing research

Which of the following is NOT an example of illegal anticompetitive practices?

mislabeling products

Jameson appears to believe that determining value is a(n) ______ process, while in reality the process of assessing value is highly _______.

objective; subjective

Walgreens wants to study how aging consumers shop. It sets up a mock store and invites older consumers to shop. The store is made to look exactly like a normal store because researchers want the consumers to feel as if they are really shopping. Researchers record what they see and use this to develop a report for Walgreens' marketing department. What type of data collection practice is being used here?

observation

Cecilia is watching people in a store to see how long customers tend to linger in front of certain items of interest. Cecilia is engaging in _______ to collect _______ data.

observation; primary

In the absence of ethics and compliance programs, employees will generally make decisions based primarily on their _______.

observations of how coworkers and superiors behave

Which of the following types of competitive structure often exists because of the difficulty and expense of entering a market?

oligopoly

Because Southwest Airlines operates in a(n) _______, if American Airlines lowers prices, Southwest will likely _______.

oligopoly; do the same

At Shania's job, promptness is heavily stressed. However, Shania's supervisor never punishes anyone for being tardy, no matter how late they come in. Shania therefore takes advantage of this to sleep in an extra hour each day. This failure on the part of Shania's supervisor is an example of how _______ factors can influence employee conduct.

opportunity

Conditions that limit barriers or provide rewards are known as ______.

opportunity

Which of the following is often a better predictor of unethical activities than are personal values?

opportunity

ACME Corp. is striving to foster a set of ethical values, beliefs, goals, norms, and rituals that members of an organization share. This is best described as _______.

organizational culture

Which of the following is one of the three factors that influence the ethical decision-making process?

organizational culture

The strategic planning process begins with:

organizational mission and goals

Susan works for Procter & Gamble. She has been told that the company wants to test a new product idea on some of its consumers. The budget she is given is way more than she thinks she will need, so she does not feel that money will be an issue. Susan would like to get highly accurate data. She wants to encourage respondents to be as detailed as possible in their responses. Which survey method would work best for Susan?

personal interview surveys

Janelle manages a small pharmacy in Dallas, Texas. Recently, she started an initiative to help give low-income individuals steep discounts on expensive drugs. The company is losing some revenue by charging these discounts, but it has helped the pharmacy gain a reputation for corporate citizenship. Consumers can also donate money to help fund this initiative. Refer to Scenario 4.1. Which responsibility is the pharmacy fulfilling with this initiative for low-income consumers?

philanthropic

Refer to Scenario 4.1. Suppose that Janelle went on a business trip. When she comes back, she files an expense report and sends it to the pharmacy's headquarters. Although a few meals were provided on her trip, Janelle does not tell them this but puts down that she needs to be reimbursed for all meals. The initiative providing discounts to low-income consumers fulfills the company's _______ responsibilities, and Janelle's practice of filling out expense reports violates the company's _______ responsibilities.

philanthropic; ethical

Refer to Scenario 4.1. Assume the government passes a new law that it will work with pharmacies to provide drug discounts to low-income consumers. In this case, the pharmacy's social responsibility initiative will go from fulfilling its _______ responsibility to fulfilling its _______ responsibility.

philanthropic; legal

Lobbying involves which type of force in the marketing environment? Please choose the best answer.

political

Over the last several years, many states have organized trade trips of small- to medium-sized businesses to Cuba to meet with Cuban political leaders as well as members of the state government. Which economic force are these trade trips designed to influence?

political

Blue Cross and Blue Shield of Illinois is a health insurance company that provides millions of members across the state of Illinois with comprehensive and affordable health plans. The Illinois-based company is a licensed affiliate of the Blue Cross Blue Shield Association (BCBSA), which operates affiliate organizations in all 50 states. The BCBSA is one of the top five organizations that pays lobbyists millions of dollars to influence state and federal legislators or senators to enact legislation, which would be favorable for their member companies. In 2014 the BCBSA spent $17 million and was actively involved in the Affordable Care Act and legislation regarding Medicare. The Blue Cross Blue Shield Association is engaging in a _______ approach to environmental forces.

proactive

Many marketing managers attempt to influence and shape environmental forces. This is known as the __________ approach.

proactive

________ ____________ occur(s) when companies ask customers to return products found to be defective.

product recalls

Apple's emphasis on marketing research is used to enhance the ________ variable of the marketing mix, while its skills at creating buzz for its newest product offering months before its release is an example of the ________ variable.

product; promotion

Because marketing managers are relying more on marketing research, marketing information systems, and new technologies to make better decisions, it is essential to establish _______ by which to judge the reliability of marketing research.

professional standards

Shirley is a salesperson at a pharmaceutical firm. She has been tasked with selling a new drug. One doctor looks like a great prospect. He is highly interested in trying out the drug and has requested some samples. However, he has asked Shirley to list any side effects of the product. Shirley knows that there is a very small chance that it could cause extreme muscle spasms in certain individuals. The chance for this is low, and even those that suffer from side effects will most likely not experience such severe reactions. Yet Shirley knows from her past experience with this doctor that he is incredibly picky and is not likely to agree to try out the medicine if he knows about this extreme side effect—no matter how unlikely it is to occur. Shirley therefore decides not to tell him. She describes other potential side effects, but she leaves this out. Refer to Scenario 4.2. This is an example of what type of ethical issue?

promotion

Refer to Scenario 5.1. Adeeb and his team were hoping to conduct their tests in a grocery store. However, they could not receive permission to do so. In the end, they set up a booth in the student union building and asked passers-by to participate. To be more representative, they tried to divide by age and race to ensure they got enough from both genders and from different ethnicities. For instance, they know that roughly 10 percent of the student population at the school is Hispanic. Since its goal is to get 200 responses, they set a goal to ask 20 Hispanic individuals to take the taste test. This is most likely an example of _______.

quota sampling

ACME Corp. managers view environmental forces as uncontrollable and thus adjust their marketing strategies to changes in the marketing environment. This approach is best described as _______.

reactive

During what period in the business cycle are firms first likely to cut their marketing budgets?

recession

During which of the following economic conditions does unemployment begin to decline, total disposable income increase, and consumers' willingness to buy begin to rise?

recovery

__________ ___________ deepens the buyer's trust in the company, and as the customer's confidence grows, this, in turn, increases the firm's understanding of the customer's needs.

relationship marketing

REI has a 100% satisfaction guarantee on its items. It allows customers to return products up to one year after purchase. This is an attempt by REI to reduce what type of cost?

risk

Refer to Scenario 3.2. Acme wants to hire a trusted third-party verification site that specializes in internet security to view its site. This third party has strong privacy criteria. If Acme meets these criteria, they can display a special seal on its website. This seal will demonstrate to users that Acme's website meets high standards in internet security. Acme thus will reassure consumers that their information is safe. What type of activity is Acme engaging in?

self-regulation

Which of the following aspects of technology relates to the fact that technology acts as a catalyst to spur even faster development?

self-sustaining

Refer to Scenario 1.4. Recently, Darlene has found that they have begun to reach market saturation. She is having trouble finding new customers. One solution would be to increase the company's reach, perhaps by opening up locations in other areas. However, she knows this will be expensive. After noticing that many of their customers are planning on expanding and purchasing bigger facilities, Darlene feels that the best option is to increase the company's _______.

share of customer

Which of the following is true about social responsibility?

social responsibility improves marketing performance

Which of the following is an informal way of expressing organizational culture?

stories

Through the process of _____________, a company establishes an organizational mission and formulates goals, a corporate strategy, marketing objectives, and a marketing strategy.

strategic planning

Refer to Scenario 2.6. Margie believes this is the optimal time to seize upon this opportunity. Through the bike's patented design, her company has capabilities that fit the unique demands of this growing market. Margie wants to capitalize on this opportunity before these market trends have a chance to change. This period for Margie's firm is known as a _______.

strategic window

Chipotle is conducting a research study that divided the population of interest into groups according to a common attribute, and then a random sample was chosen within each group. This best describes _______.

stratified sampling

Customers choose to go to Buffalo Wild Wings based upon the value they place on the total product- including the food, service, atmosphere of the restaurant, and more. The process consumers use to determine value is highly _____.

subjective

Which of the following is the potential for the long-term well-being of the natural environment, including all biological, as well as the interaction among nature and individuals, organizations, and business strategies?

sustainability

Which of the following products most closely resembles pure competition?

table salt

Kroger decided to introduce a new product that appeals to Hispanic consumers. While the product is highly successful among Hispanic consumers, other ethnic groups seem to like the product as well. For this product, Hispanic cosumers compromise Kroger's _______.

target market

A marketing strategy is the selection of a(n) _______ and the creation of a(n) _______ that will satisfy the needs of target-market members.

target market; marketing mix

Internet privacy has become a major issue. In fact, in Europe there are privacy laws such as General Data Protection Regulation (GDPR) to regulate data protection and privacy. The United States does not have comparable laws to protect consumer privacy on the internet. Collecting this information is beneficial for firms because then they can tailor marketing messages that better fit its users' needs. These better marketing campaigns can provide them with a competitive advantage. Acme Corporation uses cookies and other devices to collect information. Its privacy policy explicitly informs users that it collects information. However, most people do not read through the policy. Lately, some consumers have complained because they are worried that their information could be compromised. They question the security of the site. Acme wants to restore confidence and prove that it has controls in place. Refer to Sc

technological

A ________ __________ is a procedure with which managers try to foresee the effects of new products and processes on their firm's operations, on other business organizations, and on society in general.

technology assessment

At ACME Corp., managers are trying to foresee the effects of new products and processes on their firm's operations, on other business organizations, and on society in general. This is best described as _______.

technology assessment

When an ethical issue arises in the supply chain, which of the following is most likely to be held accountable for misconduct?

the channel member managing the product

What is the greatest determinant of ethical conduct in the organization?

the company's ethical culture

The growing demand for health-care services, recreation, tourism, retirement housing, and selected skin-care products most closely relates to _______.

the demographic characteristic of age

Shannon is driving in downtown Santa Fe. She is not very familiar with the area and is running late for her appointment. She heads to a nearby paid parking lot and is told that it costs $20 to park. Shannon is irritated by the price. Although there are likely other paid parking lots that are less expensive, Shannon pays the price to park there. Different cost considerations impacted Shannon's decision, but clearly one stood out over all the others. Which cost exerted the most influence over Shannon's decision to park in the $20 parking lot?

the non-monetary cost of time

Which of the following promises consumers fair treatment when they complain to marketers about products?

the right to be heard

McDonalds recently recognized the buying power of the Hispanic market near their Houston locations. Which one of the following efforts demonstrates how the restaurant is appealing to the Hispanic market?

the use of beloved Hispanic character, El Chapulín Colorado in teaser videos posted on McDonald's Facebook and Instagram pages

Which of the following is true about codes of ethics?

they should be updated periodically

Why might a marketer want to engage in marketing cost analysis?

to allocate the firm's marketing resources better in the future

You are advising a local nonprofit on strategy. The nonprofit supports cancer research and relies entirely on donations. You recommend that the nonprofit engage in marketing activities. The executive director tells you that because it is a nonprofit that does not engage in selling activities and has a small budget, the nonprofit has no use for marketing. You disagree and explain that marketing is not just for for-profit organizations. You explain the different ways the nonprofit can engage in marketing without changing its practices or the mission. Which of the following marketing activities would be most feasible for this nonprofit?

use inexpensive digital marketing tools to inform the community about an upcoming fundraising event

Jacob performed an experiment over and over again in his quest to understand buyer behavior. He always got similar results. Jacob went to his manager with his results and told her that this knowledge could help them improve the company's marketing strategy. However, the manager pointed out that Jacob's results do not prove an association between his outcomes and buyer behavior. In fact, the manager can think of a number of factors proven to be more effective in influencing buyer behavior. In this case, Jacob's results lacked _______.

validity

The savings in your savings account would fall under which of the following?

wealth