Quiz Questions (for exam 1)

A wedding services company changes its marketing strategy to reflect the fact that more LGBT​ (lesbian/gay/bisexual/transgender) marriages are taking place. The company is offering a broader range of ceremonies that cater to this market. Which of the following environments must this wedding company​ analyze? a. Natural b. Technological c. Political d. Cultural e. Economic

d. Cultural

How does the microenvironment of a company differ from its macroenvironment? a. The microenvironment is company-based, whereas the macroenvironment is customer-based. b. The microenvironment deals with the company, suppliers, marketing intermediaries, customer markets, competitors, and publics c. The microenvironment deals with the big problem, whereas the macroenvironment deals with trivial problems d. The microenvironment uses more financial resources than the macroenvironment e. The microenvironment affects a larger portion of the company than the macroenvironment

b. The microenvironment deals with the company, suppliers, marketing intermediaries, customer markets, competitors, and publics

In 1938, Congress enacted the _______, which gave the Federal Trade Commission (FTC) power to regulate "unfair or deceptive acts or practices." a. False Claim Act b. Wheeler-Lea Act c. Consumer Product Safety Act d. Sherman Act e. Robinson-Patman Act

b. Wheeler-Lea Act

__________ products, such ad bad-tasting and ineffective medicine, have neither immediate appeal nor long-run benefits. a. Pleasing b. Marketing c. Salutary d. Deficient e. Desirable

d. Deficient

What are the stars in the growth share matrix? a. Low-growth, high share businesses or products b. The growth star matrix does not contain stars c. Low-growth, low-share businesses and products d. High-growth, high-share businesses or products e. Low-share, high-growth businesses or products

d. High-growth, high-share businesses or products

_______ products have low immediate appeal but might benefit consumers in the long run, for instance, bicycle helmets or some insurance products. a. Pleasing b. Marketing c. Desirable d. Salutary e. Deficient

d. Salutary

Nike makes shoes out of "environmentally preferred materials." It recycles old sneakers and educates young people about conversation, reuse, and recycling. What policy has this company adopted? a. Embrace ethical values b. Do no harm c. Trust in the marketing system d. Code of conduct e. Environmental sustainability

e. Environmental sustainability

Because of the lack of supermarkets in low-income areas, many disadvantaged consumers find themselves in ________, with little or no access to healthy, affordable fresh foods. a. Cultural pollution b. Redlining c. Sustainability vision d. Greening activities e. Food deserts

e. Food deserts

The role of a company's marketing intermediaries is to do which of the following? a. Determine which products a company should market b. Provide the resources needed by the company to produce goods and services c. Purchase the company's product d. Manage the company's human resources efforts e. Help the company find, promote, sell, and distribute products

e. Help the company find, promote, sell, and distribute products

Which of the following BEST describes a duty that would fall under the jurisdiction of the​ FDA? a. Evaluating whether an advertisement to be aired is public fitting b. Checking the quality of food that is served in school lunches c. Investigating customer complaints about a business d. Protecting the legal status of a company e. Ensuring that pollution standards are met by a company

b. Checking the quality of food that is served in school lunches

How do the individual components of a SWOT analysis work together to determine the status of a company? a. By ascertaining a​ company's strengths, relating them to​ opportunities, minimizing​ weaknesses, and identifying threats to growth and development b. By streamlining a​ company's core processes so that all of the​ company's operations flow smoothly and contribute to the development and sale of its products c. By developing a marketing strategy that promotes a​ company's highest-selling products in such a way that there is a measurable return on the​ company's investment d. By developing a course of action that best determines a core​ market, the proper product to give the core​ market, and how to do so at an affordable price e. By creating a niche in a market that can be exploited by a company to gain the greatest profits

a. By ascertaining a​ company's strengths, relating them to​ opportunities, minimizing​ weaknesses, and identifying threats to growth and development

The principle of ________ marketing requires that a company continuously seek real product and marketing improvements. a. Innovative b. Consumer-oriented c. Sense-of-mission d. Customer value e. Conscious consumption

a. Innovative

The​ demographic, economic,​ natural, technological,​ political, and cultural forces that affect a​ company's ability to serve its customers make up which of the​ following? a. Macroenvironment b. Microenvironment c. Technological environment d. Cultural environment e. Marketing environment

a. Macroenvironment

​Chicago's Best Pizzeria has been operating on the north side of Chicago for over 30 years. Its target market includes​ young, urban professionals who want new​ style, organic pizzas with exotic ingredients.​ However, in recent​ years, the population in the​ pizzeria's neighborhood has been shifting and fewer​ young, urban professionals live there. The population has grown older and wants traditional​ pizza, not pizza with exotic ingredients. Which of the following identifies the​ pizzeria's BEST response to this​ situation? a. Target a new market with a different product b. Be proactive and convince customers that "exotic is better" c. Run an ad campaign on the health benefits of pizza d. Sell a different food product, such as hamburgers or sushi e. Cut the price on its pizza

a. Target a new market with a different product

_________ products give both high immediate satisfaction and high long-run benefits, such as tasty and nutritious breakfast food. a. Marketing b. Desirable c. Pleasing d. Salutary e. Deficient

b. Desirable

When a company engages in strategic planning, it must consider which of the following? a. How to divide its assets among stockholders b. How to take advantage of current business opportunities c. How to best market its products d. How to keep current businesses running smoothly e. How to make the most money possible during a fiscal year

b. How to take advantage of current business opportunities

The goal of a market development growth strategy is to do which of the following? a. Offer modified or new products to current markets b. Identify and develop new markets for current products of a company's market c. Buy businesses beyond its current products and markets d. Make more sales to current customers without changing it's original products e. Start up businesses beyond its current products and markets

b. Identify and develop new markets for current products of a company's market

A marketing dashboard is used to do which of the following? a. Analyze the new product lines being developed b. Monitor strategic marketing performance c. Develop a course of action to market a product d. Promote a product to a target group e. Determine the financial cost of developing a product

b. Monitor strategic marketing performance

​Overall, how has the American population changed over​ time? a. It has become closer knit and more​ family-oriented. b. It has become more likely to develop brand loyalty. c. It has become more​ diverse, better​ educated, and more mobile. d. It has become more skeptical about marketing schemes. e. It has become​ wealthier, more​ cultured, and more frivolous in its spending habits.

c. It has become more​ diverse, better​ educated, and more mobile.

What is the purpose of the marketing mix as part of the overall marketing strategy? a. To compare some or all of the​ company's products with the products of the​ company's competitors b. To maximize the​ company's profits through successful marketing and sales of a particular product c. To elicit a response that influences a demand for the product from the customers the company is targeting d. To create an overall positive image in the​ customer's mind that is favorably associated with the company e. To streamline a​ company's research,​ marketing, production, and sales of a particular product

c. To elicit a response that influences a demand for the product from the customers the company is targeting

​Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six​ years, sales have continuously declined and profits have almost completely disappeared. The CEO of​ Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to​ Tina's Tunes? a. ​Tina's Tunes will experience a rebound as the fear of the Great Recession declines. b. ​Tina's tunes are likely to prosper as mistrust in the digital age increases. c. ​Tina's Tunes is likely to fail because it is ignoring the technological environment. d. ​Tina's Tunes is likely to fail because it is ignoring the current political environment. e. ​Tina's Tunes is likely to fail because it is ignoring the natural environment.

c. ​Tina's Tunes is likely to fail because it is ignoring the technological environment.

The​ Children's Online Privacy Protection Act in the United States enforces laws for what​ reason? a. Regulates the distribution of unsolicited commercial​ e-mail b. Bans the sale of hazardous toys and articles c. Makes​ deceptive, misleading, and unfair practices illegal regardless of injury to competition d. Prohibits online service operators from collecting personal information from children e. Establishes procedures to avoid unwanted telephone solicitations

d. Prohibits online service operators from collecting personal information from children

The ________ concept considers the future welfare of consumers. a. Sustainable marketing b. Strategic planning c. Cause marketing d. Societal marketing e. Global marketing

d. Societal marketing

Which of the following is NOT a problem involving the natural environment that marketers need to​ consider? a. Government regulations b. Raw material shortages c. Raw material shortages d. The aging U.S. population e. Greenhouse gases

d. The aging U.S. population

When consumers respond in a similar way to a given set of marketing efforts, they can be referred to as a(n) _____________. a. Target market b. Market c. Differentiation d. Value chain e. Market segment

e. Market segment

__________ products give high immediate satisfaction but might hurt consumers in the long run. a. Salutary b. Desirable c. Marketing d. Deficient e. Pleasing

e. Pleasing

_________ is when major retailers draw a red line around disadvantaged neighborhoods and avoiding placing stores there. a. Sustainable marketing b. Reverse redlining c. Customer-driven marketing d. Food deserts e. Redlining

e. Redlining

How do company objectives and goals relate to the company mission statement? a. The mission statement defines what the companyTh ​ does, and the goals and objectives outline why the company does it. b. The mission statement is developed based upon the​ company's goals and objectives. c. The mission statement and the company goals are two different pieces used to explain the business of the company to its shareholders. d. The goals and objectives are a restatement of the mission statement in more understandable terms. e. The goals and objectives outline the steps necessary to accomplish the​ company's mission statement.

e. The goals and objectives outline the steps necessary to accomplish the​ company's mission statement.

To create value for customers, marketers must improve the performance of the ___________, which includes partnering with suppliers, distributors, and customers. a. Strategic plan b. Competitive delivery work c. Marketing system d. Internal value chain e. Value delivery network

e. Value delivery network