Bcor 350 Exam 4

A firm should compete with ______ competitors in order to sharpen its abilities. Strong Weak Smaller international

A

Critics point out that a pen that costs $0.50 to make costs $10 to buy. This is an example of ______. Excessive mark-ups Deceptive advertising Redlining High-pressure selling

A

Gaining ____ requires delivering more value and satisfaction to target consumers than competitors. Competitive advantage First-mover advantage Economies of scale Comparative advantage

A

Identifying customers wants or needs is best accomplished by ______. Marketing research Asking friends Watching TV Examining existing product offerings

A

Industrializing economies are also known as ________ economies. emerging raw material exporting totalitarian subsistence capitalist

A

The company wants to know the relative importance that a competitor places on all, EXCEPT: Company history Current profitability Market share growth Cash flow

A

You're guilty of _____ if you forget latent competitors and only focus on current competitors. Competitor myopia Perfect competition Self-competition Competitor backlinking

A

________ involves first identifying and assessing competitors and then selecting which competitors to attack or avoid. Competitor analysis Self-competition Blue ocean strategy Quantitative analysis Perfect competition

A

________ refers to continually changing acceptable styles to encourage more and early buying. Perceived obsolescence Technological obsolescence Bait and switch advertising High-pressure selling

A

A company can protect its market share through all of the following EXCEPT ________. continuous innovation attacking its competitors directly preventing or fixing weaknesses fulfilling its value promise to customers pricing its products to be consistent with the customers' perceived value

B

Consumer advocates, government agencies, and critics have accused marketing of harming consumers through: Anti-trust laws Planned obsolescence Technological obsolescence Sales promotion tactics

B

From a marketing point of view, Universal Pictures film studios might see its competition as _____. Paramount Pictures Broadway Walt Disney Pictures 20th Century Fox

B

In advertising, "puffery" is a term that refers to _____. A straight-forward promotional message Innocent exaggeration for effect Hidden advertising to consumers Subliminal appeals to consumers

B

In the audio equipment industry, Philips and Sony belong to the same _______. Target group Strategic group Experimental group Control group

B

Which of the following is NOT a deception or fraud concern for internet users and marketers? phishing Viral marketing Malware Cyber spying

B

Which of the following is a type of industrial structure? marketing economies subsistence economies laissez-faire economies capitalistic economies socialistic economies

B

Which of the following was designed to help foster trade between nations? Tariffs GATT Exchange controls quotas

B

Why does direct-mail marketing most likely remain a popular promotional tool for marketers? It does not disturb consumers enrolled in the Do Not Call Registry. It provides something tangible for people to keep. It builds long-term customer relationships. It involves very low marketing costs. It reaches the consumer very quickly.

B

_____ is a term that refers to a tax levied by foreign government against certain imported products Embargo Tariff Excise Quota

B

A country's _______ shapes its product and service needs, income levels and employment levels. International trade system Income distribution Industrial structure Political structure

C

A market challenger that matches the competitor's product, advertising, price, and distribution efforts is most likely ________. creating multiple niches pursuing an indirect attack launching a full frontal attack exiting from the current market implementing a blue ocean strategy

C

According to "Market Concept", an organization should ______. Consider short-term success more important than long-term Make every effort to charge lower prices than competitors Exist to identify and satisfy the needs of its consumers Advertise as much as possible

C

Mobile marketing is used to enrich the brand experience, stimulate immediate buying, or ________. decrease advertising costs help friends contact friends make shopping easier create new customer relationships find new suppliers

C

The concept ______ specifically focuses on the future welfare of consumers. Strategic planning Direct marketing Societal marketing Consumer business

C

What is the primary advantage of printed catalogs? Filtering out interested prospects Offering immediate rebates and coupons Building emotional connections with customers Offering unlimited space for merchandise details

C

Whereas the mass marketer achieves ________, the nicher achieves ________. low margins; low volume low volume; high margins high volume; high margins high volume; low margins high margins; high volume

C

Which of the following is the first step in the personal selling process? Handling objections Pre-approach Prospecting and qualifying Presentation and demonstration

C

According to the text, which location does Coca-Cola consider a long-term growth opportunity? Brazil China Africa India

D

An integrated social marketing campaign likely could include all of the following except ________. Facebook pages Twitter postings Instagram photos Television ads YouTube videos

D

If a company's aim is to make its own and competing products obsolete and serve customers who want state-of-the-art products and services, it is using a value discipline called ________. overall cost leadership product activation product binning product leadership customer intimacy

D

Marketing can facilitate the exchange process by performing _______. Buying Selling Storing All of the above

D

The first step in initiating competitive marketing strategies is to ______. Balance customer and competitor orientations Design broad competitive marketing strategies Assess long-term organizational objectives Conduct competitor analysis.

D

Which of the following would be considered part of the environmental scanning? Economic environment Technological environment Political and legal environment All of the above

D

Why are historically online shops such as Zappos.com adding catalogs to their marketing methods? to meet the increased demand in print catalogs to reduce the costs involved in online marketing to connect with customers in hard-to-reach places to drive online sales and services to reduce the need for telemarketers

D

_____ involves sending an announcement, reminder or other item to a person at their address. Kiosk marketing Online marketing Ambush marketing Direct-mail marketing

D

________ is the process of comparing the company's products and processes to those of competitors or leading firms in other industries to find ways to improve quality and performance. Segmenting Positioning Sales promotion Benchmarking Publicity

D

A market nicher can most likely specialize along all of the following lines EXCEPT ________. specific end users unique products customized services quality-price mass marketing

E

Which of the following is a benefit of using blogs as marketing tools for companies? Blogs provide companies with a platform to help portray wider merchandise. Blogs are online selling platforms for people located in hard-to-reach places. Blogs help reach a wider audience compared to other online direct marketing tools. Demographic information about customers can be easily discovered. Blogs can offer a fresh, original, personal, and cheap way to enter into consumer conversations.

E

Advantages of direct and digital marketing for sellers include all of the following except

Need for sales training

A ________ firm is one that, by operating in more than one country, gains marketing, production, research and development, and financial advantages that are not available to purely domestic competitors. global domestic federally chartered direct investment free trade zone

A

According to the text, McDonald's was criticized for doing all of the following EXCEPT: Wasteful packaging and solid waste creation Inefficient energy use in its stores Marketing tasty fast food Contributing to the obesity epidemic

C

When a company provides superior value by leading its industry in price and convenience, it has obtained ________. product leadership focus operational excellence customer intimacy differentiation

C

Which of the following is an advantage of using digital catalogs? lists the phone numbers of interested prospects coordinates with direct-response television ads points customers to the nearest kiosk eliminates printing and mailing costs creates emotional contact with customers

D