BA370 SDSU Gaffen Exam 1
Renata is the sales rep for OTO Telecomm Systems. She wants to bid on the RFP issued by Greenwich University for distance learning technology. She knows she will need to provide considerable information and demonstrations of her firm's technology because Greenwich University is in a new buy situation and does not have the money to afford it. any experience with the product it wishes to purchase. anyone interested in the technology. any derived demand for the system. any students who might be interested in distance learning.
any experience with the product it wishes to purchase.
Elena knows her firm must look at everything it does from a consumer's point of view. One major difficulty is that consumers' ________ change(s) over time. ethnic background needs, wants, and ability to purchase culture just-in-time processes demographics
needs, wants, and ability to purchase
Viewers of the World Series are likely to see ads for beer and cars, and viewers of the Academy Awards broadcast are likely to see ads for clothing and hair care products, due to cultural expectations. male domination in corporate boardrooms. differing demographic data for potential and past viewers. marketers' general perceptions. multiyear advertising contracts that cannot be broken.
differing demographic data for potential and past viewers.
True or False: The strategic planning process always proceeds sequentially through the five steps.
False: Planning processes can move back and forth between the steps as needed.
A firm's organizational culture reflects B2C dynamics. an RFP process. a buying center philosophy. a set of values, traditions, and customs. a derived set of influences.
a set of values, traditions, and customs.
Which of the following are commonly found in distribution and fulfillment centers to fill orders for stores or individual customers? mobile devices robots drones smartphones mobile hotspots
robots
________ factors override or at least influence psychological and social issues. Situational Extended habitual Postpurchase dissonance Interpersonal Economic
situational
In established businesses, a large proportion of B2B purchases fall into the ________ category. straight rebuy new buy adapted buy modified rebuy generic buy
straight rebuy
Which of the following is a critical ethical consideration for green marketers? capability dependability availability sustainability profitability
sustainability
Lucas bought a pickup truck to transport his equipment on weekend fishing trips. He also bought a trailer for his lawn maintenance business. His purchases were both B2C purchases since he is the user in both situations. both B2B purchases since he is the user in both situations. neither B2C nor B2B since he is the consumer and his uses might be mixed. B2C and B2B, respectively. B2B and B2C, respectively.
B2C and B2B, respectively. The truck Lucas purchased for fishing tournaments is for his personal use and was a business-to-consumer purchase. The trailer he bought for his business was a B2B purchase.
The shared meanings, beliefs, morals, values, and customs of a group of people constitute their social concerns. culture. demographics. generational cohorts. religion.
Culture
True or False: Resellers differ from producers in that resellers significantly alter the form of goods they sell.
False: Resellers are marketing intermediaries that resell manufactured products without significantly altering their form. Wholesalers, distributors, and retailers are all resellers.
True or False: A small business decides to upgrade its aging phone system. The business will probably place a straight rebuy order.
False: Straight rebuys occur when the buyer or buying organization simply buys additional units of products that had previously been purchased. Many B2B purchases are likely to fall in the straight rebuy category. In this case, a new buy is the most likely choice because the customer is purchasing goods and services for the first time.
Daphne has developed a successful business selling appliances to homebuilders. She carefully monitors the issuance of new home permits to anticipate how many appliances she will need to buy in order to supply her customers. Daphne is concerned with ________ demand. modified secondary rebuy derived delayed
derived Derived demand refers to the link between consumers' demand for a company's output and the company's purchase of necessary inputs to manufacture or assemble that particular output. The homebuilders' demand for appliances is derived from the demand for its homes.
When Darlene decided to buy a new computer, she thought about all the brands she could recall seeing advertised, but she would consider only those brands she could buy at her local Best Buy electronics store. The brands she considered represent Darlene's ________ set. universal retrieval evoked deterministic behavioral
evoked The universal set represents all brands, regardless of whether or not the consumer is aware of them. The retrieval set represents all brands the consumer can recall. The evoked set represents all brands the consumer would consider buying (as in this case).
Unlike a firm's mission statement or employee handbook, a firm's organizational culture often lists specific job tasks for employees. is of no importance to purchase decisions. exists as a set of unspoken guidelines. is ignored by the vast majority of employees. determines the order specification process.
exists as a set of unspoken guidelines. A firm's organizational culture reflects the set of values, traditions, and customs that guide its employees' behavior. The firm's culture often comprises a set of unspoken guidelines that employees share with one another through various work situations.
In the summer of 2002, the euro was valued at slightly less than US$1. By 2008, it had risen to an all-time high of $1.60, but in late 2017, the euro was once again slightly less than $1. This change in value is called interest destabilization. inflation. recession. foreign currency fluctuations. global financial impact.
foreign currency fluctuations.
Laws that prohibit the formation of monopolies or alliances that would damage a competitive marketplace benefit consumers through increased choices. higher prices. protection from false advertising. fair debt collection practices. fewer competitors.
increased choices 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.
Most banks implement customer retention programs aimed at their best customers. They do this because they know that retaining customers usually results in a product development growth strategy. an operational advantage. opportunities for diversification. increased long-term profits. more clearly defined market segments.
increased long-term profits Viewing customers with a lifetime value perspective rather than on a transaction-by-transaction basis is key to modern customer retention programs. This approach looks at the value of the customer relationship on a lifetime basis instead of considering only the current transaction.
Which of the following growth strategies employs the existing marketing mix and focuses the firm's efforts on existing customers? product penetration diversification market development product development market penetration
market penetration A market penetration strategy employs the existing marketing mix and focuses the firm's efforts on existing customers.
In Boston, foot-long sandwiches are called "grinders," while in many other parts of the country they are called "subs." This is an example of the impact of regional culture. country culture. generational factors. social trends. regulatory factors.
regional culture. The region in which people live in a particular country has its own regional culture that affects many aspects of people's lives, including their dietary tastes and preferences.
During the ________ era, firms had excess capacity and used personal selling and advertising to generate customers. production-oriented sales-oriented market-oriented value-based marketing retailing-oriented
sales-oriented In the sales-oriented era, manufacturers had the capacity to produce more than customers really wanted or were able to buy. Firms found an answer to their overproduction in becoming sales-oriented: They depended on heavy doses of personal selling and advertising.
The wine industry closely watches consumer satisfaction feedback. For years, French wineries consistently had the highest levels of customer satisfaction, creating a(n) ________ for these companies. strategic marketing plan clear mission statement operational advantage sustainable competitive advantage diversification strategy
sustainable competitive advantage Satisfied customers, if this satisfaction leads to loyalty, are a source of sustainable competitive advantage.
________ are the three types of attribute sets.
universal, retrieval, evoked
Which statement about the changing ethnicity in the United States is true? Minorities now represent almost half of the population in the United States. In spite of an increase in the Hispanic population, Hispanic buying power is expected to maintain its current level. Hispanics differ vastly from other groups in America in terms of consumer behavior. A majority of black Americans now live in the suburbs. Asian Americans are the slowest-growing minority population.
A majority of black Americans now live in the suburbs. Thirty-five percent of black households earn more than $75,000, and it is expected that a majority of black Americans now live in the suburbs.
Customer retention programs are based on what concept? Customer excellence is the easiest macro strategy to follow. Customer relationships should be viewed from a lifetime value perspective rather than on a transaction-by-transaction basis. It is important to maximize profits in the first few months of a customer relationship. Segmentation, targeting, and positioning analysis should not be rushed. Firms must spend large amounts of money to retain customers.
Customer relationships should be viewed from a lifetime value perspective rather than on a transaction-by-transaction basis. Taking a lifetime value view of customer relationships demonstrates that profits through the entire relationship matter more than short-term profitability. While it is true that STP should not be rushed, this is not the focus of customer retention programs. Maximizing profits at the expense of relationships is almost the opposite of customer retention programs, since it focuses on quick profits at the possible expense of larger profits in the long run. The other two incorrect choices may be true in a few instances, but they are often not true; customer excellence can be extremely difficult to achieve, and customer retention does not necessarily demand high levels of spending.
True or False: Sandbar is a beach-themed casual restaurant group in Southern California. Most of its customers are tourists. In a SWOT analysis for Sandbar, the possibility that the recession might cut back on tourism in Southern California would be considered a weakness.
False: A recession is an external factor with possible negative results, so it is a threat.
True or False: As the euro becomes more expensive relative to the dollar, Americans are likely to purchase more European wines.
False: Foreign currency fluctuations can influence consumer spending. When the euro becomes more expensive relative to the dollar, it means that it costs more dollars to buy European goods, which is likely to lead to a drop in the quantity of European wine purchased by Americans.
True or False: When Mario is thirsty, he always buys a Pepsi. Like many consumers, Mario engages in considerable alternative evaluation when buying habitual products like his Pepsi.
False: Habitual decision making involves little conscious effort—these are purchases that we make regularly and by habit, without even considering alternatives.
True or False: In both new buy and straight rebuy situations, several members of a buying center will be intensely involved in the purchasing decision.
False: In a new buy, many members of the buying center will be involved in the purchasing decision; however, in a straight rebuy, it is likely that the buyer will handle the transaction alone.
True or False: A buying center whose members reach a decision based on a collective agreement is known as an autocratic buying center.
False: In an autocratic buying center, even though there may be multiple participants, one person makes the decision alone. A consensus buying center is one in which all members of the team must reach a collective agreement that they can support a particular decision.
True or False: Marketing is an activity that only large firms with specialized departments can perform.
False: Marketing activities can be performed by organizations of all sizes and also by individuals.
True or False: Promotion deals specifically with retailing and marketing channel management, also known as supply chain management.
False: Place deals specifically with retailing and marketing channel management, also known as supply chain management.
True or False: The four Ps of the marketing mix include product, promotion, planning, and place.
False: The four Ps of the marketing mix are product, price, place, and promotion.
True or False: Baby Boomers are also called Millennials.
False: The group of people born between 1977 and 2000 are referred to as Generation Y, Gen Y, or Millennials, and include the more than 60 million people born in the United States between 1977 and 2000.
True or False: Esau wants to offer his existing design customers new goods and services. He is pursuing a market development strategy.
False: This is a product development strategy. A market development strategy offers existing products and services to new customers.
True or False: When you go to the hospital for an operation, you are the decider in the buying process.
False: You are the user. The decider would be the person who chose the supplies for your surgery.
Which of the following is a type of organizational culture? modified derived marketing capitalist consensus
The four types of organizational cultures are autocratic, democratic, consultative, and consensus.
True or False: Parties that work with the focal firm are its corporate partners.
True: Firms collaborate with other firms to produce and market their products.
True or False: As manager of a local bakery, Nathan greets his regular customers by name and often begins making their order when he sees them drive into the parking lot. Nathan knows habitual purchasers with strong store loyalty are great customers.
True: Habitual purchasing customers rarely even consider alternative brands or stores, and so they are excellent customers.
True or False: Amazon's Alexa and Google Home are examples of technology that enable consumers to call out a command to deal with all sorts of in-home tasks.
True: Homes are just getting smarter all around. Amazon's Alexa and Google's Home enable consumers to call out a command to deal with all sorts of in-home tasks.
True or False: As it relates to marketing, the trade of things of value between the buyer and the seller so that each is better off as a result is known as an exchange.
True: In a marketing exchange, sellers provide products or services, then communicate and facilitate the delivery of their offering to consumers. Buyers complete the exchange by giving money and information to the seller.
True or False: Strong supplier relations and efficient supply chains help firms such as Walmart achieve operational excellence.
True: Operational excellence is achieved through efficient operations and excellent supply chain and human resource management.
True or False: Situational factors sometimes override psychological and social factors in the consumer decision process.
True: Situational factors can lead to different decisions than the consumer would make otherwise. Situational factors may influence purchasing decisions.
True or False: The marketing plan is broken down into various components—how the product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer.
True: The marketing plan is broken down into various components—how the product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer.
True or False: Generally, people buy one product or service instead of another because they perceive it to be a better value.
True: Value is the difference between what we get and what we must give to get it. Perceptions of value usually drive purchase decisions.
When firms successfully implement poor strategies (perhaps due to good luck) or do a poor job of implementing good strategies, it can be difficult to generate cost-based performance ratios. evaluate performance and make adjustments. increase product excellence without reducing customer excellence. develop segmentation strategies. choose a business mission.
evaluate performance and make adjustments. Good luck may mask the weaknesses in a bad strategy, and poor execution may mask the strengths of a good strategy, making evaluation difficult in both cases.
A key to successful marketing is determining how to meet the correct balance of ________ needs that best appeals to the firm's target markets. functional and social post-purchase and pre-purchase safety and situational psychological and physiological functional and psychological
functional and psychological Marketers must understand what needs are most likely to drive customers to consider their products, and design offerings to meet those needs.
Many health insurance policies require patients to call their insurance company to get pre-approval for tests or procedures. The health insurance company acts as a(n) ________ for the purchase of these medical services. decider initiator influencer user gatekeeper
gatekeeper The gatekeeper controls information or access, or both, to decision makers and influencers. Since the insurance company controls access to tests and procedures, it is a gatekeeper in health-related decisions.
Rashid has been directed by his regional marketing manager to cut prices on seasonal items, place an ad in the local paper, and tell distributors to reduce deliveries for the next month. Rashid is engaged in evaluating performance. defining the business mission. performing situation analysis. implementing marketing mix and resources. identifying and evaluating opportunities.
implementing marketing mix and resources. Rashid is dealing with implementation of the marketing mix—price cuts (price), advertising (promotion), and distribution changes (place).
Hunter Corporation's mission statement evaluates the performance of its Board of Directors. identifies its various market segments and the advertising approaches to each. explains how the company plans to change to a just-in-time manufacturing process. is a broad description of a firm's objectives and the scope of activities it plans to undertake. describes the specific actions Hunter Corporation will take to achieve its goal.
is a broad description of a firm's objectives and the scope of activities it plans to undertake. A mission statement is a broad description of a firm's objectives and the scope of activities it plans to undertake.
When considering the use of a radio commercial in England that was designed for U.S. markets, a marketer would likely need to consider which of the following aspects of culture that might be different between the two countries? dress symbols demographics language social trends
language Language would be an important cultural issue; while both countries speak English, there are many differences in vocabulary.
Nathan bought Timberland boots because he felt they were perfect for his outdoor activities. Jack bought the same kind of boots because he felt they were stylish, especially with the logo clearly visible. The psychological factor driving Jack's behavior is a functional need. lifestyle. his universal set. learned behavior. his evoked set.
lifestyle Of the factors listed, lifestyle is the best choice because it represents the way Jack chooses to spend his time and money. He wants to be stylish, and so he chooses the boots. This is an example of a psychological, not a functional, need.
Tomas, a bank employee, doesn't feel that his coworkers accept him. He decides to dress more casually, as they do, hoping to be accepted. Which level of Maslow's hierarchy of needs is Tomas trying to work on? esteem physiological safety love self-actualization
love The five needs are physiological, safety, love, esteem, and self-actualization. Love needs relate to our interactions with others, which Tomas is seeking in the form of acceptance from his colleagues.
Many states create licensing requirements for a variety of professionals (such as lawyers and accountants) designed to restrict entry into their market by professionals from other states. This strategy limits ________ growth strategies. product proliferation market development market penetration diversification product development
market development By restricting the ability of lawyers and other professionals to easily expand their businesses across state lines, states are preventing these professionals from selling existing services to new customers. These would be market development opportunities.
Learn to Go sells its foreign language dictionaries to college students throughout the United States. Samuel Marcus, the owner, wants to start selling these products to international students abroad. Marcus wants to pursue a ________ growth strategy. product proliferation market development market penetration diversification product development
market development Since Marcus wants to sell existing products to new customers, this is a market development strategy.
Cliff sells construction equipment. Whenever he calls on his building contractor customers, he asks if they are having any problems. In doing so, Cliff is addressing which of the following core aspects of marketing? satisfying customer needs and wants completing the exchange function of marketing making product, place, promotion, and price decisions making decisions about the setting in which marketing takes place creating value
satisfying customer needs and wants By asking about problems, Cliff is asking what unmet needs the contractor might have. He hopes that his company may have products that will help meet these needs.
Curt greets his regular customers by name every morning when they come in for coffee. He offers them a taste of anything special he is cooking that day. He has a database with their birthdays and offers them free meals on their birthdays. Curt hopes that this attention to his "regulars" will encourage them to assist him in meeting his functional needs. always include his firm in their universal set. extend problem solving beyond ritual consumption. internalize impulse attitudes. spread positive word of mouth.
spread positive word of mouth
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. shopping social theoretical temporal physical
temporal Our state of mind at any particular time can alter our preconceived notions of what we are going to purchase. A temporal state is a temporary state of mind, such as the fear that would be aroused by an impending hurricane.
In the consumer decision process, we decide how much time and effort to expend searching for information based partly on post-purchase dissonance. the outcome of the alternative evaluation process. the degree of perceived risk associated with the product or service being considered. the results of habitual decision making. the results of the external search.
the degree of perceived risk associated with the product or service being considered. The length and intensity of the search are based on the degree of perceived risk associated with purchasing the product or service. The remaining factors listed come later in the decision process.
Because they do so much driving while visiting doctors' offices and hospitals, pharmaceutical sales representatives are often given company cars to drive. When a pharmaceutical company like Merck is preparing to purchase new company cars, sales reps' feedback will be sought on car models and features, but the final decision will be made by higher levels of management. What role(s) do the sales reps play in the buying center? users initiators influencers users and influencers users and initiators
users and influencers The sales reps offer feedback—which makes them influencers—and are also the people who will drive the cars—which makes them users.
________ represents all the activities necessary to get the product to the right customer when that customer wants it. Place Promotion Social media Value cocreation Supply chain marketing
Place: Place represents all the activities necessary to get the product to the right customer when that customer wants it.
Which element of the marketing mix deals with supply chain management? product price promotion production place
Place: The place aspect of the marketing mix represents all the activities necessary to get the product to the right customer when that customer wants it.
What does RFP stand for?
Request for Proposal
True or False: Marlena manages the electrical turbine engine division of Dynamic Enterprises Corporation. Her unit has a somewhat different objective than other units, and Marlena makes most decisions independently, without consulting headquarters. It's likely that she manages a strategic business unit.
True: A strategic business unit is a division of the firm that can be managed and operated somewhat independently from other divisions and may have a different mission or objectives from other business units.
True or False: Gina is out of bread and butter and needs to decide what is for dinner. She will be stopping at the grocery store on the way home. Gina will likely engage in limited problem solving.
True: Bread and butter might be habitual purchases, or Gina might consider different types of bread or butter. She must also decide on a menu for dinner and purchase the groceries she needs. None of this requires extended problem solving—in each case, she will probably consider only a few alternatives—but a small amount of thought will be needed. This is an example of limited problem solving, which occurs during a purchase decision that calls for, at most, a moderate amount of effort and time.
True or False: By paying close attention to customer needs and continuously monitoring the business environment in which it operates, a good marketer can identify potential opportunities.
True: Changes in the environment can be a source of opportunities for the firm.
Roanoke Hardware is known for its consensus buying center culture. Recognizing this corporate culture, someone attempting to sell to Roanoke Hardware should focus exclusively on the head of the buying center. address the concerns of all members of the buying center with particular attention to the decision maker. focus on providing information to and making the sales approach to the one decision maker. attempt to facilitate the collective agreement of all members of the buying center. attempt to get one "friend" on the committee to support his products.
attempt to facilitate the collective agreement of all members of the buying center. In a consensus buying center culture all members of the team must reach a collective agreement that they can support a particular purchase.
Target has announced that it would begin selling organic food products. In doing so, Target is most likely trying to gain government subsidies. attract a different market segment. reduce its costs. save the environment. offset cost-based pricing pressure.
attract a different market segment. Target is probably trying to attract customers who don't shop there because they wanted to buy organic products. These customers represent a different market segment for Target.
When Valeria gave her presentation to the Overlook buying center team, she focused on answering Daniella's questions, since Daniella is the decision maker. What type of buying center does Overlook employ? democratic consultative consensus autocratic authoritative
autocratic
See the World, a line of travel books, provides travelers with background information about people's beliefs, values, and customs in various parts of the world. See the World's books educate travelers about a country's social concerns. political parties. demographics. generational cohorts. culture.
culture
The shared meanings, beliefs, morals, values, and customs of a group of people constitute its reference group. family. culture. cognitive frame. evoked set.
culture
Eugene uses a database software system to remind him when his customers should be ready for their next lawn and/or garden service. With this reminder system, Eugene contacts his customers when they are most likely to be "in the buying mode." Eugene's system is part of C2C marketing. customer relationship management a transactional marketing orientation. supply chain management. typical production era marketing practices.
customer relationship management (CRM) : Eugene's system is one element of a customer relationship management (CRM) system. Firms that employ CRM systematically collect information about their customers' needs and then use that information to target their best customers with the products, services, and special promotions that appear most important to them.
Hospitals, schools, and religious organizations are examples of ________ buyers. manufacturing retail institutional factory agent reseller
institutional
The goal of customer relationship management is to manage every customer relationship differently. manage every customer relationship to maximize short-term profitability. eliminate customers who are profitable, but not highly profitable. identify and build loyalty among a firm's most valued customers. generate relationships with competitors' customers.
identify and build loyalty among a firm's most valued customers. Some of the answers include CRM themes but are carried to an extreme—for example, although CRM seeks to customize the relationship to meet the customer's primary needs, it doesn't mean that every customer must be managed differently from every other. But CRM does concern itself with identifying and building loyalty among the firm's most valued customers.
Mattie is the marketing manager for a spice company. While on vacation in Brazil, she visited food stores in Rio de Janeiro. Most of her company's products were available, except for baking spices, like vanilla. When she returned to work, she mentioned this observation to her international sales manager. Mattie was providing the important marketing function of cocreating an investment portfolio. selling products from one business to another. engaging customers, developing long-term relationships. identifying opportunities to expand. enhancing the customer experience.
identifying opportunities to expand. Mattie was identifying a potential opportunity for growth—the absence of the company's baking spice in Brazil.
Value creation through place decisions for a consumer product involves putting the product in the front of the store. designing creative displays to capture consumers' attention. pricing products differently at different stores. making sure the product is available in the stores where customers will want to find it, and that it is always in stock so they can buy it when they want to. focusing exclusively on Internet sales to reduce supply chain costs.
making sure the product is available in the stores where customers will want to find it, and that it is always in stock so they can buy it when they want to. Value creation through place has to do with making sure the product is available when and where the customer wants it. Some of the other options (like the creative displays, or putting the product in the front of the store) may cause more consumers to notice the product, but the correct answer is the one that best describes ensuring that the product is available to the customer.
The marketing goal of getting the "right quantities to the right locations, at the right time" relates to communicating the value proposition. managing the supply chain. performing service marketing. capturing value. managing price and performance.
managing the supply chain. Supply chain management is the set of approaches and techniques that firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and other firms involved in the transaction (e.g., transportation companies) into a seamless value chain in which merchandise is produced and distributed in the right quantities, to the right locations, and at the right time, while minimizing systemwide costs and satisfying the service levels required by the customers.
Many marketing students initially overlook the importance of marketing channel management because marketing has no responsibility for supply chain management. marketing channel management doesn't add much value for customers. companies do not want customers to know anything about the supply chain. many of these activities take place behind the scenes. marketing channel management is already transparent.
many of these activities take place behind the scenes. Many marketing students initially overlook the importance of marketing channel management because a lot of these activities are behind the scenes.
Limited problem solving usually relies on past experience more than on external information. situational stimuli and attitudes. external searches for information. financial analysis of performance risk. evaluation of the universal set.
past experience more than on external information. Limited problem solving occurs during a purchase decision that calls for, at most, a moderate amount of effort and time. Customers engage in this type of buying process when they have had some prior experience with the product or service and the perceived risk is moderate. Limited problem solving usually relies on past experience more than on external information.
Generally, people buy one product or service instead of another because they want to get the lowest price possible. perceive it to be the better value for them. prefer to avoid doing extended problem solving. have conducted a thorough internal search for information. are unaware of key determinant attributes.
perceive it to be the better value for them.
Every year before he starts his lawnmower, Stefan has a repairman put a new battery in the lawnmower. Stefan is most likely concerned with ________ risk. psychological financial performance social physiological
performance
Which of the following is the best way to build a sustainable competitive advantage using product excellence? being the first to offer customers desired features, even if competitors can copy them easily positioning the product using a clear, distinctive, desirable brand image having the most features on each model focusing on being cutting edge and continually eliminating older features that are still in use by customers copying the market leader's features, but at a lower cost
positioning the product using a clear, distinctive, desirable brand image The incorrect options all describe ways to create new product models that are probably easy for competitors to copy (or that, in one case, copies competitors' offerings). A clear, distinct, desirable positioning, though, offers a more sustainable advantage through product excellence.
For most makers of ________, especially those that resonate strongly with consumers' sense of nostalgia and childhood memories, changing ingredients to healthier options represents a grave risk. processed foods organic foods alcoholic beverages bottled water original recipes
processed foods
________ is communication by a marketer that informs, persuades, and reminds potential buyers about a product or service so as to influence their opinions and elicit a response. pricing promotion placement a relational orientation value cocreation
promotion Promotion is communication by a marketer that informs, persuades, and reminds potential buyers about a product or service so as to influence their opinions and elicit a response.
Pietro is in the marketing department of a midsized firm that develops and sells communications systems. He is proud of the human resource area in the company that provides the firm with excellent employees. Pietro himself really enjoys his work, but he knows the work of HR helps create an operational advantage for the firm because of all the following except customers appreciate the kind of service that knowledgeable employees provide. employees play a major role in the success of the firm. it is easier to communicate with and inspire the customer if the employees believe in what the firm is doing. building customer loyalty depends on a committed workforce. the company provides products with a high perceived value.
the company provides products with a high perceived value. Excellence in human resource management is one aspect of operational excellence for all of the reasons listed except the company provides products with a high perceived value. This option relates to product excellence, not operational excellence.
The center of all marketing efforts is
the consumer
In delivering value, marketing firms attempt to find the most desirable balance between the need for value and the perception of value. explicit versus implicit value. the need to provide benefits to customers and keep down costs the desire to satisfy customers and the desire to satisfy employees. the need for product improvement and the need for advertising.
the need to provide benefits to customers and keep down costs. The challenge for all firms is to provide the value customers expect while keeping costs low enough to allow the firm to be profitable.
For some products, marketers can combine education level with other data like occupation and income to obtain a sense of consumers' regional culture. consumers' value sensitivity quotient (VSQ). the educational value equation. complete profiles of individual consumers. accurate predictions of purchase behavior.
accurate predictions of purchase behavior.
Toppers Construction needs heavy-duty equipment to install a new pipeline in northern Minnesota. After a vendor is chosen, Wayne will handle the paperwork and send out the purchase order. Wayne plays the role of ________ in the buying center. buyer initiator influencer user gatekeeper
buyer
For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements with other countries creates weaknesses. opportunities. strengths. threats. strategic plans.
opportunities Expansion of trade agreements is an external factor that could be favorable for firms to take advantage of. An external positive factor is an opportunity.
American visitors to the Indonesian island of Bali are often aghast when they see the sign for the Swastika resort. Americans associate the swastika symbol with Nazi Germany while Indonesians associate the symbol with the four major elements on Earth. The two groups have different lifestyles. risk factors. perceptions. factual norms. post-purchase dissonance.
perceptions
Google and other search engines allow marketers to bid to have their ads shown when consumers search keywords related to the firm's products. These marketers are attempting to create value through product. price. promotion. place. cost-based measures.
promotion. Ads displayed in search engines are an example of promotion.
Upscale men's and women's clothing stores like Burberry are more likely to appeal to consumers' ________ needs. functional postpurchase safety psychological situational
psychological Upscale clothing can improve a person's image or make him or her feel a certain way, both of which are examples of psychological needs. Psychological needs pertain to the personal gratification consumers associate with a product and/or service.
Dana has just started with a travel agency, and she has been offering clients and prospective clients a range of packaged tours. She is concerned because the commissions she is earning on her sales are lower than she had hoped. Her colleague Scott, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Scott's approach is based on transaction-oriented marketing. premium pricing. his seniority at the firm. special incentives from tour operators. value cocreation.
value cocreation. Scott is collaborating with his clients to build custom packages, which is an example of value cocreation.
Suppose that Volkswagen is preparing an RFP for a hands-free phone connection for a new car model. All of the following would be included in the RFP except a description of the required features for the device. a time frame when the devices are needed. specifications for connecting the device to the car. a vendor analysis. instructions for preparing proposals.
vendor analysis Vendor analysis takes place after the vendor has been selected and has delivered products; it is part of the final stage of the B2B buying process.
________ is the cost to the customers or the fee the bank charges those customers for borrowing money. Interest A service charge Tax Tariff A user fee
Interest
The primary purpose of the ________ plan is to specify the marketing activities for a specific period of time. marketing business strategic organizational resource
Marketing
Jeffrey is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to the volume he will sell monthly. He has researched his competition, talked to some customers, and decided on prices he will charge. Jeffrey has also developed a plan for promoting his business. Based on this description, which element of the marketing mix does Jeffrey still need to work on? planning product price promotion place
Place: This question outlines each item of the marketing mix except for place, which represents all the activities necessary to get the product to the right customer when the customer wants it. Jeffrey needs to decide if he will have a physical store (and if so, where), a website, and so on.
When the publisher of the well-known Berenstain Bears books wanted to celebrate the 50th anniversary of the series, it initiated a $150,000 campaign. Which of the four Ps does this campaign represent? performance price place promotion product
Promotion: The promotion for the Berenstain Bears 50th anniversary was not only designed to sell books, but also embrace a sense of nostalgia for the beloved characters. This campaign represented promotion in the four Ps.