BADM Midterm 2

Marketers' efforts to understand customers' needs and desires in order to determine what products to market relates to which of the following functions of marketing? A. Buying B. Selling C. Storing D. Grading E. Financing

A. Buying

Effective promotional positioning uses promotion to A. Create and maintain an image of a product in consumers' minds. B. Create an image that appeals to multiple market segments. C. Expedite product delivery. D. Become an unnatural result of market segmentation. E. Stabilize sales.

A. Create and maintain an image of a product in consumers' minds.

The marketing mix is a combination of A. Product, price, promotion, and distribution. B. Compensation, regulation, segmentation, and ethics. C. Sales, advertising, and publicity. D. Product, price, advertising, and distribution. E. Product, sales, advertising, and segmentation.

A. Product, price, promotion, and distribution.

Which of the following modes of transportation is the least expensive for many products? A. Railroad B. Trucking C. Air transport D. Shipping E. Pipelines

A. Railroad

Because buyers have limited ____________, they must allocate them in such a way as to obtain the products they most desire. A. Resources B. Time C. Patience D. storage space E. attention spans

A. Resources

After the production orientation came the sales orientation of the mid-twentieth century. Supply exceeded demand for many products and ________ and _________ became the most important marketing activities. A. advertising; selling B. product development; distribution C. product development; promotion D. pricing; promotion E. pricing; distribution

A. advertising; selling

When Honda pays a television network to air its commercial, it is using A. Publicity. B. Advertising. C. Personal selling. D. Sales promotion. E. Packaging.

B. Advertising.

Magazines located next to the checkout counter at a grocery store would probably be classified as A. Shopping products. B. Convenience products. C. Processed materials. D. Specialty products. E. Accessory equipment.

B. Convenience products.

Which of the following requires companies to get users' consent before using cookies to track their information? A. United States B. European Union C. China D. Russia E. Federal Trade Commission

B. European Union

Marketing creates value by A. Increasing the price of goods. B. Helping people obtain what they need and want. C. Spending large amounts on advertising. D. Selling and advertising new products. E. Manipulating people into buying products they don't want.

B. Helping people obtain what they need and want.

___________ occurs when criminals obtain personal information that allows them to impersonate someone else in order to use the person's credit to obtain financial accounts and make purchases. A. Privacy violations B. Identity theft C. Bank fraud D. Intellectual property theft E. Online fraud

B. Identity theft

Convenience products such as bread, milk, and gum would probably be marketed A. Selectively. B. Intensively. C. Weakly. D. Exclusively. E. Sporadically

B. Intensively.

Rick Richardson developed a new product and has found a retail store willing to sell it at the price he set. He has also agreed to help promote the product's sale. He is engaging in A. Retailing. B. Marketing. C. Researching. D. Discounting. E. Exchanging.

B. Marketing.

When seeking out information on a new product, consumers tend to trust _________ over _________. A. Corporations, other consumers B. Other consumers, corporations C. Their neighbors, online reviews E. Online reviews, printed reviews D. Television infomercials, websites

B. Other consumers, corporations

Which of the following is a psychological variable of buyer behavior? A. Roles B. Personality C. Reference groups D. Social classes E. Culture

B. Personality

Which of the following requires organizations to gather information about customer needs, share that information throughout the entire firm, and use that information to help build long-term relationships with customers? A. Customer relationship marketing B. Production orientation C. Marketing concept D. Market orientation E. Sales orientation

B. Production orientation

When an airline company reacts to a plane crash with press conferences, news releases, and having company employees work with the families of survivors and victims of the crash, the company is focusing on which of the following elements? A. Sales promotion B. Publicity C. Personal selling D. Advertising E. Distribution

B. Publicity

The first major step of a marketing strategy is to A. Determine the price. B. Select a target market. C. Develop an appropriate marketing mix. D. Add on a warranty feature. E. Put the product on sale.

B. Select a target market.

Which of the following is not a reason why a Fortune 500 company might maintain a blog? A. To answer consumer concerns and questions B. To spread negative information C. To build enthusiasm for its products D. To highlight positive company news and information E. To defend corporate reputation

B. To spread negative information

Salt, sugar, and many agricultural products are sold using which of the following approaches? A. Concentration B. Total-market C. Multi-segment D. Universal E. Focused

B. Total-market

Marketing research is A. Seldom worth the high cost. B. Used to guide marketing decisions. C. Not as important as it used to be. D. The cause of most product failures. E. A chaotic, subjective process.

B. Used to guide marketing decisions.

In the twenty-first century, ________ remains an essential element of any marketing strategy to develop and manage long-term customer relationships. A. Storing B. pricing C. financing D. communication E. grading

B. pricing

Private distributor brands A. Are identified by manufacturer. B. Are used to reduce the efficiency of production. C. Are owned and controlled by a wholesaler or retailer. D. Are owned and controlled by a manufacturer. E. Have no brand name at all.

C. Are owned and controlled by a wholesaler or retailer.

Why does shopping online raise more privacy concerns than shopping in a store? A. It is more anonymous to shop online B. Shoppers can go to more stores more quickly C. Businesses can track consumers on a more personal level D. The kinds of things people buy are different online E. Shopping online is just as safe as shopping in stores

C. Businesses can track consumers on a more personal level

The Internet is a new ________ for making products available at the right time, at the right place, and in the right quantities. A. Pricing strategy B. Promotional device C. Distribution channel D. Promotion channel E. Marketing mix

C. Distribution channel

Which of the following is not a competitive or economic force in the marketing environment? A. Competitive relationships B. Unemployment C. Laws and regulations D. Inflation E. Recessions and depressions

C. Laws and regulations

A product's profits peak and start to decline during which of the life cycle stages? A. Death B. Decline C. Maturity D. Incline E. Introduction

C. Maturity

Which of the promotion mix variables is best for promoting expensive products with specialized uses, such as houses? A. Publicity B. Advertising C. Personal selling D. Sales promotion E. Packaging

C. Personal selling

Distribution is sometimes referred to as A. Packaging. B. Selling. C. Place. D. Buying. E. Portability.

C. Place.

If a cosmetics company is selling eye shadow priced at $11.99 rather than $12, it is using A. Price skimming. B. Penetration pricing. C. Psychological pricing. D. Rational pricing. E. Discount pricing.

C. Psychological pricing.

When a company uses advertising and sales promotion to inform consumers about a product so they will ask retailers to stock it, which strategy is being used? A. Drag strategy B. Push strategy C. Pull strategy D. Shove strategy E. Pricing strategy

C. Pull strategy

Pharmaceutical companies sometimes use which of the following pricing strategies to price their over-the-counter drugs? A. Penetration pricing B. Even/odd pricing C. Symbolic/prestige pricing D. Discounting E. Price dipping

C. Symbolic/prestige pricing

When an organization hauls canned goods from the manufacturer to grocery stores, it is involved with which marketing function? A. Buying B. Selling C. Transporting D. Storing E. Grading

C. Transporting

Diet Coke is a A. Generic brand. B. Private distributor brand. C. Brand mark. D. Brand name. E. Brand denotation.

D. Brand name.

Purchasing power, recession, and inflation are associated with A. Marketing forces. B. Social forces. C. Political forces. D. Economic forces. E. Technological forces.

D. Economic forces.

_______ is the most popular online social networking site in the world. A. Myspace B. LinkedIn C. Friendster D. Facebook E. Twitter

D. Facebook

An exchange is A. Always made with cash. B. Always made with credit. C. Seldom satisfactory to all parties involved. D. Giving up something in return for something else. E. made within 24 hours

D. Giving up something in return for something else.

Google is challenging established companies in all but one of the following industries: A. Mobile phones. B. Book publishing. C. Newspapers. D. Grocery stores. E. Advertising.

D. Grocery stores.

Price is an important factor in the marketing mix for all of the following reasons except A. It affects product image. B. It is very flexible. C. It directly affects revenue and profits. D. It is the most visible element in the firm's marketing mix. E. The ability to set a price depends in large part to the supply and demand for a product.

D. It is the most visible element in the firm's marketing mix.

When a company sets a low price for a new product to discourage competition from entering the market, it is using the A. Even/odd strategy. B. Price skimming strategy. C. Psychological pricing strategy. D. Penetration pricing strategy. E. Symbolic pricing strategy.

D. Penetration pricing strategy.

If a company's goal is to develop an image of having very high-quality luxury products, it should employ a A. Penetration pricing strategy. B. Price skimming strategy. C. Psychological pricing strategy. D. Prestige pricing strategy. E. Rational pricing strategy.

D. Prestige pricing strategy.

If a company markets to a segment of people who have a certain lifestyle, the type of segmentation being used is A. Behavioristic. B. Geographic. C. Topographic. D. Psychographic. E. Demographic.

D. Psychographic.

Industrial products such as lumber, cotton, and iron are classified as A. Major equipment. B. Supplies. C. Accessory equipment. D. Raw materials. E. Component parts.

D. Raw materials.

Which of the following is not an influence on the marketing environment? A. Social forces B. Legal forces C. Competitive forces D. Technological forces E. Manufacturing forces

E. Manufacturing forces

Which of the following is not a common pricing objective? A. Maintaining the status quo B. Boosting market share C. Maximizing profits and sales D. Survival E. Outsourcing

E. Outsourcing

A marketing channel includes all of the following except A. Producers. B. Retailers. C. Wholesalers. D. Consumers. E. Secondary stakeholders.

E. Secondary stakeholders.

________ are the channel that most observers think will dominate digital communication in the future. A. Cell phones B. Blogs C. Virtual worlds D. Photo sharing sites E. Social networking sites

E. Social networking sites

_______ allow users to develop avatars that live and play online, and sometimes even have their own currency. A. Photo sharing B. Social networking sites C. Wikis D. Micro-blogs E. Virtual worlds

E. Virtual worlds

Anna is active in recycling and tree-planting programs in her community and she refuses to buy products that have excessive packaging. This illustrates which of the following factors of buyer behavior? A. Attitude B. Personality C. Social class D. Motivation E. Reference group

A. Attitude

To effectively implement the marketing concept, an organization must A. Balance meeting its own objectives and satisfying customer needs. B. Make a large profit. C. Meet consumer needs and wants. D. Perform all of the marketing functions. E. Produce quality products.

A. Balance meeting its own objectives and satisfying customer needs.