Value is what you get for what you give.

Jamie sells construction equipment. Whenever she calls on her building contractor customers, she asks if they are having any problems. In doing so, Jamie is addressing which of the following core aspects of marketing?

satisfying customer needs and wants

Marketers know that, compared to high school graduates who are working full time, college students

spend their disposable dollars differently.

** Consumers' needs and wants, as well as their ability to purchase, depend on a host of factors that remain consistent over time.

False

** STP refers to segmentation, testing, and promotion.

False

One of the seven primary needs that apps meet is the need to deliver.

False

Which of the following statements regarding conscious marketing is correct?

It recognizes that business is a subset of society, and that society is a subset of the planet.

** Value is what you get for what you give.

True

Marketers in the United States are paying increasing attention to various ethnic groups because

approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups.

Disney's My Magic system, which enables visitors to swipe their Magic Band wristbands to get on rides, make purchases, and open their hotel room door, is an example of ________ excellence.

customer

Pepsi has cooperated with America on the Move to improve many of its products and their labels, such as reducing the saturated fat in its Frito-Lay Ruffles. This form of social responsibility most directly impacts

customers.

Marketing ethics is concerned with all of the following except

distinguishing between right and wrong actions in a business setting.

The 4E framework for social media guides marketers in using social media effectively to build and deepen customer relationships. All of the following are included in the 4E framework except

energy

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged?

planning

** When a T-shirt manufacturer states, "We sell it only in black because that way we can buy plenty of black fabric and run our plant efficiently," its statement reflects the views that were popular in which era of the evolution of marketing?

production-oriented

Beverage firms sometimes hire attractive young people to sit at fashionable bars, sipping the company's latest product offering. The firms hope these "models" will serve as a(n) ________ and influence consumers.

reference group

Maslow's hierarchy of needs includes physiological needs at the lowest level and self-actualization at the top. The three levels in between are

safety, love, and esteem.

When Walmart issued new standards for livestock products that were raised on food without antibiotics or artificial growth hormones, it considered multiple ________, including the ranchers that supply the food, its customers, and animal welfare groups.

stakeholders

Even when large discount retailers enter a market, a few small, local retailers survive and prosper. These small retailers have probably developed a(n) ________ that allows them to survive.

sustainable competitive advantage

Xavier is analyzing potential market segments. He should carefully seek potential customers who have both an interest in his products and

the ability to buy them.

** Customers are more likely to talk about service that exceeded their expectation than about service that did not meet their expectation.

False

** The components of a SWOT analysis are strengths, weaknesses, opportunities, and tactics.

False

** The four Ps of the marketing mix include product, promotion, planning, and place.

False

**Among the key differences between conscious marketing and CSR is the unique view on shareholders that is absolutely critical to CSR.

False

According to trend watchers and marketing researchers, consumers are concerned about the vast disparity in income.

False

Jack usually buys Nike shoes, so when his friend asked him what shoes he should buy, Jack said Nike because it was the first brand he thought of. Jack's response was an evoked set.

False

Macroenvironmental factors include the company, competition, corporate partners, and the physical environment.

False

When designing a digital marketing campaign, the first step is to identify the target audience.

False

Marketers wanting to use social media to reach consumers should understand that people in the ________ group were born into a world that was already full of electronic gadgets and digital technologies such as the Internet and social networks.

Generation Z

** The 1890 Sherman Antitrust Act prohibits monopolies and other activities that would restrain trade or competition and makes fair trade within a free market a national goal.

True

** eHarmony used metrics such as the bounce rate to understand what its clients want, both in a service provider and in a mate.

True

After purchasing an expensive pair of shoes, you may question whether or not the shoes are any better than the less expensive shoes you could have purchased instead. This is an example of postpurchase cognitive dissonance.

True

Consumers involved in habitual decision making engage in little conscious decision making.

True

Price should be based on the value that the customer perceives as giving them a good value for the product they receive.

True

Stakeholders typically include the firm's employees and their families, customer groups, members of the community, the environment, and the firm's partners and competitors.

True

The Golden Rule test asks the question, "Would I like to be on the receiving end of this action and all its potential consequences?"

True

Every time a consumer surfs the web and clicks on a site, online marketers can place ________ on that user's computer, showing them where the user starts, proceeds, and ends the online encounter—as well as what the user buys and doesn't buy.

cookies

American Express operates a blog called American Express Open Forum, where business experts share their wisdom in various posts. The information is both engaging and educational. American Express Open Forum is an example of a

corporate blog.

** The ________ for natural skin care company Burt's Bees is to "create natural, Earth-friendly personal care products formulated to help you maximize your well-being and that of the world around you."

mission statement.

What type of analysis does management use to evaluate the firm's various products and businesses and allocate resources according to which products are expected to be the most profitable for the firm in the future?

portfolio analysis

Many states have laws regulating the prices businesses charge during emergencies like hurricanes. These laws are designed to protect consumers whose ________ state may impair their ability to make sound purchase decisions.

temporal

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes

the value of their time and energy.

** Nordstrom, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputation for excellent customer service will most likely result in

a sustainable competitive advantage.

During a SWOT analysis, a company should assess the opportunities and uncertainties of the marketplace due to changes in several factors, given the acronym CDSTEP. Which of the following is not one of these factors?

ethical

Four Winds Art Gallery sells paintings. They have also recently begun offering appraisals of customers' art collections. Four Winds is

expanding from offering just goods to also offering services.

Nancy and her fiancé Don are planning their wedding. She knows her mother wants her to have a traditional church wedding with a Roman Catholic priest officiating. Nancy would like to have an informal ceremony on the beach, since that type of wedding has become popular with her friends. Furthermore, Don is from Thailand and would like to have a monk officiate. Nancy and Don's wedding decisions are most influenced by

family, reference groups, and culture.

If Katy Perry tweets a close-up of her eyelashes, lengthened by using a Cover Girl mascara product, then Cover Girl will have instantly reached all her millions of followers. What effect of social media engagement is this an example of?

network effect