BUS 346 Midterm 1
H&R is a small, local heating and air conditioning business. The area military base is a potential source of growth, and H&R already installs and services the type of equipment the military would require, but it is difficult to get established as a certified government contractor. H&R is considering a ____________ growth strategy. Select one: a. product proliferation b. product development c. market penetration d. diversification e. market development
e
In delivering value, marketing firms attempt to find the most desirable balance between Select one: a. the desire to satisfy customers and the need to keep customers from running the company. b. explicit versus implicit value. c. the need for value and the perception of value. d. the need for product improvement and the need for advertising. e. providing benefits to customers and keeping costs down.
e
In the Circles for a SUCCESSFUL Value Proposition framework, the value proposition is represented by Select one: a. the intersection between all three of the circles. b. the intersection between the firm's benefits and competitors' benefits. c. the intersection between customer needs/wants and competitors' benefits. d. the part of the firm's benefits that doesn't overlap with anything. e. the intersection between customer needs/wants and the firm's product's benefits.
e
In the Circles for a Successful Value Proposition framework, the portion of the customer needs/wants circle that doesn't overlap with anything else represents Select one: a. competitors' value propositions. b. the firm's value proposition. c. low-priority needs and wants that customers are willing to give up. d. unknown customer needs/wants that the firm does not understand. e. unmet customer needs/wants.
e
Which of the following adopter categories refers to the last large group of buyers to enter a new product market? Select one: a. Late majority b. Early adopters c. Innovators d. Laggards e. Early majority
a
Brand __________ is the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service. Select one: a. licensing b. equity c. solvency d. positioning e. association
b
A firm's macroenvironment includes all of the following EXCEPT Select one: a. economics. b. culture. c. demographics. d. political/legal issues. e. competition.
e. competition.
Which of the following is NOT a stage in the product life cycle? Select one: a. decline b. evaluation c. maturity d. introduction e. growth
b
__________ distribution intensity helps a seller to maintain a particular image and control the flow of merchandise into an area. Select one: a. Variable b. Endogenous c. Selective d. Collective e. Intensive
c
Stores like Home Depot and Costco act as wholesalers when they Select one: a. sell to contractors or restaurant owners. b. take delivery in whole-lot quantities. c. sell products for distributors. d. sell directly to consumers. e. compete with each other.
a
The firms that work along with the focal firm to provide goods and services to consumers are viewed as Select one: a. corporate partners. b. cooperatives. c. cultural cohorts. d. customers. e. cartels.
a
In a corporate vertical marketing system, a. participants—such as warehouses, transportation companies, and retail outlets—are typically owned by a parent company to ensure harmonious relations throughout the supply chain. b. independent firms join together formally to decide how the marketing channel will operate. c. transaction selling is the norm, with the invisible hand guiding the overall functioning. d. conflict tends to be a major problem. e. there is no common ownership, and the dominant member has significant power to impose its ideas and objectives.
a. participants—such as warehouses, transportation companies, and retail outlets—are typically owned by a parent company to ensure harmonious relations throughout the supply chain.
Walmart is known for its efficient logistical systems. Every time consumers buy something, that purchase is recorded and sent to company headquarters, where it is used to generate reorders to vendors. In addition, customers' billions of purchases are analyzed using data mining techniques to uncover a. patterns of consumers' purchasing behavior. b. competitors' pricing strategies. c. new ideas for human resources management. d. the impact of income tax laws. e. the relationship between primary and secondary data.
a. patterns of consumers' purchasing behavior.
Relatively few consumers like to go to the dentist. Dental insurance plans that pay for regular checkups increase the __________ of dental care by reducing the cost to the consumer. Select one: a. perceived value b. brand loyalty c. brand awareness d. brand extension e. generic positioning
a. perceived value
Many home design businesses volunteer to provide their latest products for tours-of-homes fundraisers because they know their new products will benefit from Select one: a. complexity. b. observability. c. trialability. d. compatibility. e. relative advantage
b. observability.
A __________ brand is one where there is a contractual arrangement between firms allowing one to use its brand name for a fee. Select one: a. joint venture b. common use c. licensed d. franchise e. shared
c
A restaurant chain is working to improve the quality of its food and service. It recruits customers who agree to respond to customer satisfaction surveys once every three months over the next two years, to track its progress. What kind of data is the restaurant chain collecting? Select one: a. internal secondary data b. focus group data c. panel data d. external secondary data e. scanner data
c
According to the text, younger consumers deal with having a lack of leisure time by Select one: a. watching television programs on their laptops. b. eating unhealthy fast food meals. c. multitasking. d. sleeping less. e. spending less time on the phone.
c
After a firm has identified the various stakeholders and their issues and gathered available data related to an ethical decision-making situation, all parties relevant to the decision should engage in Select one: a. choosing a course of action. b. reidentification of issues. c. brainstorming and evaluation of alternatives. d. a vote, with the majority deciding the best course of action. e. legal discourse.
c
At the BMW plant in Spartanburg, South Carolina, suppliers deliver parts every four hours when the plant is in operation and are responsible for removing any packaging or pallets used to deliver their products. BMW uses a ______________ inventory control system. Select one: a. lead time b. cross-docking c. JIT d. CPFR e. UPC
c
Companies that develop customized business software often work closely with their users when installing their products. This close contact often creates new product ideas through Select one: a. licensing technology. b. clinical trials. c. customer input. d. R&D consortia. e. reverse engineering.
c
Computer game companies constantly monitor computer game-related blogs keeping track of the latest hot products, because they know that their customers CRAVE the latest and greatest games. They use this information to create new products that primarily provide the benefit of Select one: a. creating diversification and reducing risk. b. satisfying the changing needs of former customers. c. keeping up in a market where sales come mostly from new products. d. avoiding market penetration from products that have been on the market for a long time. e. taking advantage of a long product cycle.
c
For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements with other countries creates Select one: a. strengths. b. weaknesses. c. opportunities. d. strategic plans. e. threats.
c
If the __________ diffusion of innovation group is relatively small, the number of people who ultimately adopt the innovation likely will also be small. Select one: a. late majority b. innovator c. early adopter d. early majority e. laggard Feedback
c
When Dr. Putt invented his Eye-Over-the-Ball (EOB) golf putting device, he knew during the introductory stage Select one: a. sales would slow down, profits would peak, and early adopters of golf equipment would be his major customers. b. sales would rise quickly, profits would jump, and even laggards would buy his product. c. sales would be low and profits nonexistent, but he would attract golf equipment innovators. d. sales would be low, profits would be high, and all potential golfers would jump at the opportunity to buy his product. e. sales would level off, profits would decline, and mature golfers would be attracted to his product.
c. sales would be low and profits nonexistent, but he would attract golf equipment innovators.
One of the advantages of selling specialty goods and services is that when consumers want them, they will a. expect them to be offered conveniently. b. question the price. c. search for them. d. consider many alternatives. e. perceive greater performance risk.
c. search for them.
Both major political parties have developed proprietary databases that contain vast information about voters, broken down by demographic and geographic information. This kind of information is Select one: a. syndicated data. b. primary data. c. secondary data. d. neuromarketing. e. qualitative rese
c. secondary data.
Taking steps to encourage customer loyalty is one way to a. promote efficiency. b. improve supply chain effectiveness. c. sustain an advantage over competitors. d. develop new pricing strategies. e. test new products.
c. sustain an advantage over competitors.
For years, when considering new products, marketers at Celestial Seasonings asked themselves, "What would Stacy think?" Stacy was a fictional character representing 25-50-year-old, educated, upper-income women who rarely watched television but did a lot of reading. "Stacy" represented Celestial's primary Select one: a. demographic segment. b. positioning. c. target market segment. d. sustainable competitive advantage. e. SBU.
c. target market segment.
During the research design step of the marketing research process, researchers identify the type of data needed and a. the dates when data will be collected. b. the forum in which the data will be presented. c. the type of research necessary to collect the data. d. the identities of research participants in the project. e. the statistical software to be used.
c. the type of research necessary to collect the data.
A__________ is the trade of things of value between the buyer and the seller so that each is better off as a result. Select one: a. relational orientation b. market segment c. transactional orientation d. exchange e. promotional plan
d
Although marketers have found that psychographics are often more useful for predicting consumer behavior than demographics, psychographic segmentation Select one: a. is still an unproven area. b. offers only one-to-one marketing potential. c. is rarely used and unproven. d. is a more expensive method for identifying potential customers. e. is available only in limited geographic areas.
d
As owner of a retail franchise food store, Mary Gray purchases supplies based on specials advertised nationally throughout the franchise system. One Monday, she was surprised to find customers asking for specials she hadn't been informed of in advance. The franchise company failed to live up to the value-driven activity of Select one: a. balancing customers' benefits and costs. b. keeping prices below those charged by competitors. c. building relationships with customers. d. sharing information across the organization. e. evaluating strategic competitive partnerships. Feedback
d. sharing information across the organization.
Yesenia, the new university course scheduling manager, is struggling with adjustments to the fall schedule. She is trying to determine how to offer the classes students need at the times when students need them. Yesenia is struggling with the marketing function of Select one: a. creating value. b. capturing value. c. communicating the value proposition. d. supply chain management. e. value co-creation.
d. supply chain management.
A recent poll conducted by Time magazine found that 38 percent of U.S. consumers Select one: a. were concerned with social responsibility, but not the ethical behavior of a company. b. had no idea if the companies they purchased from were responsible. c. purchased from companies they perceived to be ethical or not ethical equally. d. didn't care if a company acted responsibly. e. actively tried to purchase from companies they considered responsible.
e
Google and other search engines allow marketers to bid to have their ads shown when consumers search on keywords related to the firm's products. These marketers are attempting to create value through Select one: a. price. b. place. c. product. d. cost-based measures. e. promotion.
e
If a marketing researcher has to collect data under severe time constraints, which of the following types of data sources would probably be available soonest? Select one: a. experimental data b. focus group data c. panel data d. survey data e. syndicated data Feedback
e
In a competitive market, perceived value is determined by consumers mostly Select one: a. by trying out different products. b. by weighing primary versus secondary benefits. c. through brand association and brand licensing. d. by quantitative analysis of brand personalities. e. in relationship to the value of competitors' offerings.
e. in relationship to the value of competitors' offerings.
Today, __________ dominate supply chains. Select one: a. government agencies b. manufacturers c. distributors d. wholesalers e. large retailers
e. large retailers
In retailing, a just-in-time delivery system is called a _____________ system. Select one: a. quick response b. cross-docking c. lead time d. CPFR e. UPC
a
One of the categories of products for which brand extension is especially logical is Select one: a. generic goods. b. generic services. c. licensed brands. d. complementary goods. e. commodities.
d
Another name for a manufacturer's brand is a__________ brand. Select one: a. systematic b. private-label c. premium d. national e. extended
d. national
After reviewing the existing data on seasonal spending by his company's customers, Marvin decided he needed new information collected to address his research questions. Marvin will need __________ data to address the questions in his market research study. Select one: a. primary b. secondary c. mined d. syndicated e. warehoused
a
Although conflict is likely to occur in any supply chain, it is generally more pronounced when Select one: a. the supply chain members are independent entities. b. retailers pressure manufacturers. c. manufacturers pressure retailers. d. the supply chain members are geographically too close to each other. e. the economy is booming.
a
Although it is relatively easy to offer customers Internet options like a FAQ page and an e-mail address to answer questions, some companies are using an interactive approach to address customers' questions while they are visiting the websites. These firms are using ___________ to provide the customer with enhanced customer service. Select one: a. online chats b. online games c. web videos d. vendor-managed inventory e. EDI
a
Although marketers have found that psychographics are often more useful for predicting consumer behavior than demographics, psychographic segmentation Select one: a. is a more expensive method for identifying potential customers. b. is available only in limited geographic areas. c. is still an unproven area. d. offers only one-to-one marketing potential. e. is rarely used and unproven.
a
As a multichannel retailing operation matures, as in the case of Walmart, what tends to happen to its organizational structure? Select one: a. operational integration of all channels b. growth of retail channel, diminishment of Internet channel c. separation of all operations d. growth of Internet channel, diminishment of retail channel e. escalation of costs across all channels
a
Before the development of computer-assisted design software, many firms handcrafted __________, wooden or clay models that served as rough physical representations of a new product. Select one: a. prototypes b. premarket tests c. blockbusters d. designer models e. storyboards
a
Carla has been directed by her 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. Which step of the strategic marketing planning process is Carla engaged in? Select one: a. implement marketing mix and resources b. situation analysis c. define the business mission d. evaluate performance e. identify and evaluate opportunities
a
Compared to conventional supermarkets, warehouse clubs have Select one: a. a lower level of service. b. no products appealing to small businesses. c. slightly higher prices. d. a broader assortment of food items. e. lower annual fees.
a
David travels a great deal in the course of his business. He has noticed ads in many new places, including fortune cookies, baggage claim conveyor belts, on the sides of buses, etc. Marketers would like to reach David, and are responding to concerns about Select one: a. the time-poor society. b. increased costs of air travel. c. privacy of communications. d. green marketing. e. federal restrictions on advertising.
a
Four Winds Art Gallery recently began offering appraisals of customers' art collections, in addition to continuing to sell paintings. Four Winds is Select one: a. expanding from offering just goods to also offering services. b. capturing value through multiple pricing strategies. c. implementing a market segmentation strategy. d. expanding from offering just services to also offering goods. e. increasing customer value through inflated appraisal evaluations.
a
Golf ball manufacturers use Iron Mike, a machine that swings a golf club at a constant velocity, to test the distance for new golf ball designs. When using Iron Mike, the manufacturers are engaged in Select one: a. alpha testing. b. premarket tests. c. market testing. d. product development. e. concept testing.
a
Greg Focker opened a sporting apparel store and signed a lease on the property. He also signed an agreement with the manufacturer on the amount of merchandise he will sell and the promotions he will conduct. Based on this description, which aspect of the marketing mix does he still need to work on? Select one: a. price b. prototype c. product d. promotion e. place Feedback
a
If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, phone number, and email to participate, the radio station is a. offering an exchange. b. overstepping its role. c. hoping to receive feedback. d. implementing a CRM program. e. behaving unethically.
a
In multichannel retailing, what visible element must often be adjusted because of competition faced in different channels? Select one: a. pricing b. return policies c. place d. supply chain e. distribution
a
Once a marketing researcher is ready to move beyond preliminary insights to specific, informed questions, the researcher is ready to conduct Select one: a. quantitative research. b. qualitative research. c. data warehousing. d. research design. e. syndicated marketing surveys.
a
One of the key characteristics of brainstorming sessions is Select one: a. no idea is immediately accepted or rejected. b. everyone must come up with ideas. c. the manager should always make the final decision. d. the first idea is almost always the best idea. e. only the marketing team is included in these sessions.
a
Sophie made pies and sold them from her food trailer at businesses. This is an example of aNo Select one: a. direct marketing channel. b. distribution center. c. simplified transaction. d. wholesale operation. e. indirect marketing channel.
a
Which of the following is the third step in the marketing planning process? Select one: a. identify opportunities b. define the business mission c. implement marketing mix and allocate resources d. situation analysis e. evaluate using a matrix
a
Which of the following provides the information needed to confirm insights and help managers to pursue appropriate courses of action? Select one: a. quantitative research b. in-depth interviews c. social media monitoring d. qualitative research e. observation research
a
Which of the following strategies is designed to place products in as many outlets as possible? Select one: a. intensive distribution b. exclusive distribution c. contractual distribution d. selective distribution e. surplus distribution
a
With access to the Internet nearly universal in the United States, many potential market segments have become more Select one: a. reachable. b. identifiable. c. substantial. d. perceptive. e. quantifiable.
a
__________ confirms insights and provides a basis for taking a course of action. Select one: a. Quantitative research b. Qualitative research c. Statistical sourcing d. Data mining e. Primary data collection
a
__________ reduce costs and maintain low prices by buying opportunistically from manufacturers with excess inventory, offering limited assortments of household goods and groceries, as well as health and beauty aids. Select one: a. Extreme value retailers b. Category killers c. Specialty stores d. Convenience stores e. Factory outlets
a
__________ occurs when the brand extension adversely affects consumer perceptions about the attributes of the core brand. a. Brand dilution b. Brand personality destruction c. Corporate branding d. Brand extraction e. Brand collusion
a. Brand dilution
__________ are combating competitive pressures by increasing the amount of exclusive and private label merchandise they sell and expanding their online presence. Select one: a. Department stores b. Extreme value stores c. Full-line discount stores d. Convenience stores e. Off-price retailers
a. Department stores
Which of the following is NOT one of the five groups in the diffusion of innovation curve? a. Non-adopters. b. Early majority. c. Early adopters. d. Innovators. e. Late majority.
a. Non-adopters.
Value-driven firms constantly measure the __________ that customers perceive, compared to the prices of their offerings. Select one: a. benefits b. merchandise c. rebates d. information e. relationships
a. benefits
When the company's dry goods deliveries were late for the third time, Melissa withheld payment from her supplier until it was back on schedule. This is an example of ________ power. Select one: a. coercive b. legitimate c. referent d. reward e. expertise
a. coercive
Laptop computers, personal digital assistants, and cellular phones were all readily accepted and diffused in U.S. markets where business and personal lifestyles tend to be faster-paced, compared to many other areas in the world. These products offered __________ with consumers' needs and priorities. a. compatibility b. complexity c. observability d. relative positioning e. trialability
a. compatibility
Marketers cater to the ________ cohort with larger fonts in signage and seating options in stores. Select one: a. Gen Z b. Gen X c. Baby Boomer d. Millennials e. Gen Y
c. Baby Boomer
When an accounting firm provides an online training module showcasing real-life decision lapses and their negative effect on the company, it is trying to encourage what type of behavior from its employees? a. ethical b. formal c. strategic d. secretive e. casual
a. ethical
Yolanda is the new restaurant manager in a major hotel. When considering changes in the restaurant that will increase value to customers, Yolanda will likely attempt to either provide the same quality at a lower cost or Select one: a. improve products and services at the same cost. b. offset higher hotel rates with lower restaurant prices. c. reduce customer expectations through reduced service. d. increase prices to increase revenue. e. lower the quality and the price.
a. improve products and services at the same cost.
A differentiated targeting strategy can allow a firm to obtain a bigger share of the overall market; this strategy Select one: a. is likely more costly than an undifferentiated strategy. b. is the cheapest option. c. requires the use of advanced advertising techniques. d. is ineffective without multiple brand names. e. rarely works.
a. is likely more costly than an undifferentiated strategy.
In New England, 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 Select one: a. regional culture. b. social trends. c. country culture. d. generational factors. e. regulatory factors.
a. regional culture.
Inkjet printers were a big improvement over the dot matrix printers they replaced. Inkjet printers gained rapid acceptance in the marketplace primarily because of their a. relative advantage. b. compatibility. c. trialability. d. observability. e. complexity.
a. relative advantage.
When discussing the marketing planning process, STP stands for Select one :a. segmentation, targeting, and positioning. b. sustaining, trending, and positioning. c. situation analysis, trend spotting, and planning. d. strategies, tactics, and plans. e. strategize, target, and promote.
a. segmentation, targeting, and positioning.
If you are a marketer for a manufacturer, and the marketing mix for your product focuses on very specific market segments, you'd like to sell your product through Select one: a. specialty stores. b. department stores. c. category specialist stores. d. extreme value retailers. e. convenience stores.
a. specialty stores.
For products like clothespins, which provide the same benefit for all consumers, marketers should probably use ________ strategy. Select one: a. undifferentiated targeting b. lifestyle segmentation c. concentrated targeting d. differentiated segmentation e. benefit segmentation
a. undifferentiated targeting
For some products, marketers can combine education level with other data like occupation and income to obtain a. useful predictions of purchase behavior. b. consumers' value sensitivity quotient (VSQ). c. complete profiles of individual consumers. d. a sense of consumers' regional culture. e. the educational value equation.
a. useful predictions of purchase behavior.
About 30% of packaged goods have lost content recently. How have consumers reacted? Select one: a. As long as the price is also reduced, they don't seem to mind. b. Most of the changes have gone unnoticed by consumers. c. A number of lawsuits are pending. d. In a few cases, consumer outrage has caused manufacturers to go back to the original packaging. e. Consumers have demanded that companies reduce their prices accordingly.
b
After the previous sales representative in his territory infuriated an important customer, Benjamin visited the customer once a month, never asking for business but hoping to rebuild trust through listening and expressing concern. Finally, after more than two years, the customer gave Benjamin an order. Benjamin was providing the important marketing function of Select one: a. synthesizing and interpreting sales, accounting, and customer-profile data. b. engaging customers and developing long-term relationships. c. alerting the logistics department when to ship products. d. advising production on how much product to make. e. identifying opportunities to expand.
b
Baby Boomers represent a huge demographic segment for travel marketers. Baby Boomers are also heavily motivated by self-fulfillment, which creates the possibility of __________ segmentation. Select one: a. benefit b. psychographic c. self-concept d. behavioral e. geographic
b
Brands are assets that can be legally protected through Select one: a. financial reporting. b. copyrights and trademarks. c. corporate branding strategies. d. generic branding. e. brand extensions.
b
Considering what you know about their target markets and merchandise, which of the following retailers is LEAST likely to have an online presence? Select one: a. full-line discount stores b. convenience stores c. off-price retailers d. department stores e. category specialists
b
Each time a politician or celebrity writes a book, bookstores can expect at least some customers to want the book, but whether it will become a bestseller is less certain. The bookstore's primary inventory management challenge is Select one: a. whether to display the book at the checkout counter. b. having enough books to satisfy customer demands versus the cost of having the inventory. c. whether to price the books in the distribution center or at the retail store. d. which other books to promote along with this book. e. how to get the author to sign copies of the book.
b
Manufacturers who use just-in-time manufacturing systems coordinate closely with suppliers to ensure that materials and supplies arrive just before they are needed in the manufacturing process. While just-in-time systems can offer major advantages in terms of inventory costs, they must be carefully managed. If a firm found that its just-in-time system was badly managed, leading to frequent manufacturing delays due to missing parts, this would represent aNo __________ in a SWOT analysis. Select one: a. threat b. weakness c. strength d. opportunity e. business mission
b
Most banks now have customer relationship software which, when a customer contacts the bank, tells the service representative what types of accounts, loans, and credit cards the customer currently has. Service representatives use this information to sell some of the other services the bank currently offers to these customers. This is a ___________________ growth strategy. Select one: a. diversification b. market penetration c. product development d. market development e. product proliferation
b
One of the potential benefits to a firm of introducing new-to-the-world products or services is Select one: a. cost savings. b. establishing a completely new market. c. late majority marketing. d. the ability to avoid paying pioneers for new product development. e. capitalizing on existing consumer preferences.
b
Paul listens to music on his iPod and iPhone, but he still buys vinyl records at his local music store on occasion, although they are getting harder to find. Vinyl records are in the __________ stage of the product life cycle. Select one: a. evaluation b. decline c. introduction d. growth e. maturity
b
Ryan wants to sell personal website services to American soldiers in Afghanistan. Because of the difficulty of communicating with people in a war zone, Ryan may have trouble with this segment not being Select one: a. perceptive. b. reachable. c. identifiable. d. substantial. e. quantifiable.
b
Shell MasterCard, created cooperatively by Shell Oil Company and Master Card, is an example of Select one: a. a generic brand. b. co-branding. c. brand dilution. d. brand extraction. e. brand collusion.
b
Some CREDIT CARDS provide free liability insurance, funded by the bank issuing the card, when a customer pays for a rental car using the card. This extra insurance is an example of Select one: a. the actual product. b. an associated service. c. the product position. d. product style. e. the core value.
b
Sophia could not afford expensive furnishings, but wanted a stylish home. After researching many options, she went to a local Target to purchase the trendy lamps, pillows, and art featured on its ads and website. As a consumer, which retailing challenge was Sophia likely responding to? Select one: a. integrated supply chain b. brand image consistency c. pricing consistency d. efficient distribution e. integrated CRM
b
What is neuromarketing? Select one: a. The use of psychological principles to design marketing research studies. b. The use of EEG scanners to measure consumers' brain waves. c. The analysis of consumer comments on social media to understand consumers' thoughts and opinions. d. The use of neural networks to perform data mining and develop marketing insights. e. The use of in-depth interviews to map detailed networks of information storage in the brain.
b
Which of the following is NOT one of the four product life cycle stages? Select one: a. decline b. location c. maturity d. growth e. introduction
b
Why would a firm spend over $2 million for a 30-second ad on television during the Super Bowl? Select one: a. because Super Bowl ads generate brand loyalty b. because the Super Bowl offers an opportunity to create significant brand awareness c. There is no good reason to spend over $2 million for a Super Bowl ad d. because the Super Bowl is a significant opportunity to be associated with global marketing e. because of the annual competition for the most creative Super Bowl ad
b
__________ can purchase merchandise at one-fifth to one-fourth of the original wholesale prices because they do not ask the suppliers for advertising allowances or markdown adjustments. Select one: a. Category specialists b. Off-price retailers c. Specialty stores d. Department stores e. Drugstores
b
______________ systems are designed to deliver smaller shipments of merchandise on a more frequent basis to retailers. Select one: a. Cross-docking b. JIT c. UPC d. CPFR e. Lead time
b
A __________ is a 13-digit code retailers can use to track inventory. Select one: a. pick ticket b. UPC c. ASN d. EDI e. CFPR
b. UPC
In a focus group, researchers usually videotape the session to Select one: a. create survey instruments to send to the participants. b. assess both verbal and nonverbal responses. c. avoid asking repetitive questions. d. evaluate the potential for in-depth interviews. e. post the videos on the corporate website.
b. assess both verbal and nonverbal responses.
Matt was passionate about Abercrombie & Fitch. It was the only place he'd buy his clothes. If anyone asked him about clothes, he would talk for what seemed like hours about why he only shopped there. From a strictly marketing perspective, this word of mouth is an element of Select one: a. motivation. b. brand loyalty. c. social marketing. d. brand extension. e. self-actualization
b. brand loyalty.
Randall wants to do an online survey of college professors about the factors that influence their textbook selection. He would like to use a structured survey but is not sure what responses to include for each question. Randall could use __________ to help him develop his survey. a. primary data mining b. in-depth interviews c. experiments d. observation e. surveys
b. in-depth interviews
Most banks now have customer relationship software which, when a customer contacts the bank, tells the service representative what types of accounts, loans, and credit cards the customer currently has. Service representatives use this information to sell some of the other services the bank currently offers to these customers. This is a ___________________ growth strategy. Select one: a. diversification b. market penetration c. product development d. market development e. product proliferation
b. market penetration
During the __________ era, firms had excess capacity and used personal selling and advertising to generate customers. Select one: a. retailing-oriented b. sales-oriented c. value-based marketing d. market-oriented e. production-oriented
b. sales-oriented
Which of the following would NOT be used in calculating the profitability of a segment? Select one: a. segment size b. segment perceptions c. profit margin percentage d. segment adoption percentage e. fixed costs
b. segment perceptions
Fernando was thrilled to find out that his company had just decided to invest a great deal of money in the product he was managing. He knows that even with its recent high rate of growth and the fact that it dominates its market, he would need more money to establish it firmly. Using the BCG portfolio analysis, his product would be classified as a Select one: a. dog. b. star. c. anchor. d. cash cow. e. question mark
b. star.
Which of the following would NOT be part of the launch of a new product? Select one: a. determining the price for the product b. starting to make preliminary decisions about the target market c. incentives for distributors d. technical support staff for technical products e. educational efforts for complex or conceptually new products
b. starting to make preliminary decisions about the target market
Which of the following is a systematic means of collecting information from people by using a questionnaire? Select one: a. scanner study b. survey c. in-depth interview d. experiment e. focus group
b. survey
If a marketing researcher has to collect data under severe time constraints, which of the following types of data sources would probably be available soonest? Select one: a. survey data b. syndicated data c. focus group data d. experimental data e. panel data
b. syndicated data
In marketing's four Ps, place refers to all activities required to get Select one: a. the design of the terminal location for products accomplished. b. the right products to the right customer when that customer wants it. c. demand chain management functionally operable. d. access to the physical space within a retail establishment. e. consumers to the destination.
b. the right products to the right customer when that customer wants it.
Political consultants have been using market research for decades to help their candidates understand Select one: a. what ethical lapses they can get away with. b. who makes up the voting public and how to reach them. c. how to buy the votes they need. d. which consumers spend the most money. e. how large their campaign signs should be.
b. who makes up the voting public and how to reach them.
In addition to merchandise and payments, information flows throughout a supply chain. Which of the following is NOT a good characterization of the flow of information in a supply chain? Select one: a. Distribution centers will send and receive information from stores and manufacturers. b. A manufacturer will send and receive information from buyers, stores, and distribution centers. c. Customers will send and receive information from stores and manufacturers. d. Stores will send and receive information from manufacturers, buyers, distribution centers, and customers. e. Buyers will send and receive information from stores and manufacturers.
c
Many inventors struggle with the question, "I made it; now how do I get rid of it?" They have made the error of considering marketing as a. an integral part of a business plan. b. important only for new products. c. an afterthought. d. a profit center. e. an accounting function.
c
Marketing research includes all of the following EXCEPT Select one: a. recording data. b. analyzing data. c. creating data. d. collecting data. e. interpreting data.
c
One drawback to marketing products on smartphones compared to other kinds of web experiences is Select one: a. consumers are cynical and don't believe advertising on smartphones. b. more people access the Web through laptops than smartphones. c. the smaller screen means that less information must convey the same brand image. d. the cost of mobile apps makes it prohibitive for most companies. e. few people use their smartphones for shopping.
c
One example of a customer loyalty program is Select one: a. a quantity discount offered for large purchases at an office supply store. b. seasonal sales on top selling items. c. a frequent diner card at a restaurant, offering a free appetizer for every $100 in food purchases. d. an everyday low price policy on all products at a grocery store. e. an extensive customer service training program for new employees at a hair salon. Feedback
c
One key feature of the value of a strong brand is that Select one: a. competitors will typically abandon a sector altogether rather than compete. b. if it becomes a generic name, the brand is worth even more. c. it can protect the firm from competition. d. it cannot be successfully imitated by a retailer's own brand. e. it no longer needs to be supported by advertising and promotion.
c
Personal selling is particularly important for retailers selling Select one: a. trend or fashion items. b. online services. c. products that are complicated or expensive. d. low-cost services. e. discount items.
c
The Lite beer commercial with the slogan, "less filling, tastes great," was based on __________ segmentation. Select one: a. psychographic b. loyalty c. benefit d. geographic e. geodemographic
c
The U.S. Federal Trade Commission created the Do Not Call Registry to curb problems with unwanted telephone solicitations. Which of the following was one of the results mentioned in the text? Select one: a. Honest telemarketers found it easier to reach customers. b. The Do Not Call Registry was disbanded due to its ineffectiveness. c. Dishonest telemarketers have still been able to get through. d. Companies have increased their emphasis on telemarketing approaches. e. Consumers received more telemarketing calls than ever.
c
The difference between a firm's immediate marketing environment and its macroenvironment is that the macroenvironment is Select one: a. the same as the immediate environment. b. easier to understand. c. external. d. internal. e. easier to control.
c
The first objective in the evaluate performance phase of the marketing planning process is to Select one: a. adjust advertising allocations. b. find ways to cut costs. c. review implementation programs and results using metrics. d. determine whether to raise or lower prices. e. consider changing the target market.
c
The owner of A. C. Flora Ford Dealership wanted to know why consumers chose his company to purchase a car. He was fairly sure that most customers had one of three reasons—service, reputation, or location—but wanted to know which was revealed as the most frequent reason for purchasing. A. C. Flora will probably use a SURVEY with __________ questions to address his research problem. Select one: a. observation-based b. unstructured c. closed-ended d. experimental e. open-ended
c
When Cynthia's Boutique receives dresses, they already have price tags and are on hangers. Cynthia's Boutique receives __________ merchandise. Select one: a. horizontal channel b. repurposed c. floor-ready d. quick response e. just-in-time
c
When Nike, the prominent athletic shoe manufacturer, branched out from selling only athletic shoes to also offering athletic clothing and gym bags, what type of growth strategy did this represent? Select one: a. diversification b. market development c. product development d. market penetration e. product penetration
c
When Victoria's Secret offers different product lines, such as its Pink line, it is trying to capture the market by Select one: a. offering everything to everyone. b. trying lots of options to find out which one works. c. segmenting, targeting, and positioning. d. continual test marketing. e. focusing exclusively on its Pink brand. Feedback
c
When you register your telephone number with the Do Not Call Registry, you are responding to a need for Select one: a. marketing contact. b. enhanced information flow. c. privacy. d. lower phone bills. e. tactical communication skills.
c
Whenever Donald calls on potential pest control customers, he emphasizes the fact that, unlike the national franchise competitors, he is a local business person and has been in business over twenty years. Donald is __________ his business relative to his competition. Select one: a. pricing b. targeting c. positioning d. segmenting e. packaging
c
Which ethnic group not only tends to be more affluent and suburban than previously thought, but also younger, with 47 percent between the ages of 18 and 49 years? Select one: a. Caucasian b. Asian c. African American d. Pacific Islander e. Hispanic
c
Which of the following is NOT a social trend listed in the text? Select one: a. thrift b. privacy concerns c. technological advances d. greener consumers e. health and wellness
c
Which of the following is an example of an unstructured question? Select one: a. Would you buy this product? (yes, no) b. Would you buy this product? A. definitely, B. maybe, C. definitely not c. Why did you buy this product? d. Please rate the attributes of this product that are important to you. (Rate 1-5, with 1 being most important and 5 being least important.) e. What would convince you to buy this product? A. lower price, B. larger packaging, C. better taste
c
________ power is based on getting a channel member to behave in a certain way because of a contractual agreement. Select one: a. Expertise b. Reward c. Legitimate d. Coercive e. Referent
c
__________ is when vendors ship merchandise prepackaged in the quantity required for each store to the distribution center. Select one: a. Combination warehousing b. Horizontal merchandising c. Cross-docking d. Traditional shipping e. Vertical merchandising
c
In the early 1990s, the inflation rate in Mexico was twice the rate in the United States, but the Mexican monetary authorities kept the peso/dollar exchange rate almost constant. For Mexican consumers Select one: a. incomes rose dramatically. b. interest rates fell to compensate for increased inflation. c. Mexican products became more expensive while U.S.-made products became comparatively less expensive. d. U.S.-made products became less attractive to purchase. e. Mexican products became less expensive while U.S.-made products became comparatively more expensive.
c. Mexican products became more expensive while U.S.-made products became comparatively less expensive.
__________ is an extreme form of a targeting strategy. Select one: a. Concentrated targeting b. Benefit marketing c. Micromarketing d. Differentiated targeting e. Macromarketing
c. Micromarketing
Which of the following is NOT one of the guidelines for developing a market research questionnaire? Select one: a. Questions should be sequenced appropriately. b. The layout should be professional and easy to follow. c. Sensitive questions should be asked first. d. Questions should use vocabulary respondents are familiar with. e. Questions should only address one issue at a time.
c. Sensitive questions should be asked first.
Marketers selling milk, bread, and other consumer staples know most customers do not spend much time searching or comparing alternatives. For most consumers, these are _____________ goods. Select one: a. impulse b. specialty c. convenience d. ritual e. shopping
c. convenience
If you walk into a __________ you will likely find a broad variety of merchandise, deep assortment and customer service with everything divided into what appears to be a collection of specialty shops. a. specialty store b. category specialist c. department store d. discount store e. off-price retailer
c. department store
People who initiate, organize, operate, and assume the risk of a business venture are called a. managers. b. professionals. c. entrepreneurs. d. leaders. e. consultants.
c. entrepreneurs
Marketers often employ a combination of segmentation methods, using __________ to identify and target their customers, and __________ to design products and messages to appeal to them. Select one: a. undifferentiated targeting; differentiated targeting b. loyalty segmentation; demographics c. geodemographic segmentation; lifestyle or benefit segmentation d. lifestyle segmentation; geographic segmentation e. loyalty segmentation; geodemographics
c. geodemographic segmentation; lifestyle or benefit segmentation
The __________ diffusion of innovation group is the last large group of consumers to adopt a new product or service. Select one: a. early majority b. laggard c. late majority d. early adopter e. innovator
c. late majority
Which of the following is the best way to build a sustainable competitive advantage using product excellence? Select one: a. focusing on being cutting edge and continually eliminating older features that are still in use by customers b. having the most features on each model c. positioning the product using a clear, distinctive brand image d. being the first to offer customers desired features, even if competitors can copy them easily e. copying the market leader's features, but at a lower cost
c. positioning the product using a clear, distinctive brand image
Personal selling is particularly important for retailers selling a. trend or fashion items. b. low-cost services. c. products that are complicated or expensive. d. discount items. e. online services.
c. products that are complicated or expensive.
As director of a small art gallery, one of Frederica's major concerns is the preferences of the people who buy her artists' work. Frederica recognizes that the center of her marketing efforts is Select one: a. profits. b. artistic social responsibility. c. the arts movement. d. her target customers. e. competing art galleries.
d
Before deciding on a new promotional campaign, Jeffrey's Muffins looked at its customers' buying patterns over a 15-year period as determined by their use of a loyalty card. What method did Jeffrey's use to make sense of the data that was available? Select one: a. panel data b. data warehousing c. biometrics d. data mining e. neuromarketing
d
Being socially responsible is generally considered Select one: a. a necessary part of every firm's strategy. b. a good thing to do only if a company is profitable. c. inappropriate for most firms in today's challenging markets. d. beyond the norms of corporate ethical behavior. e. the responsibility of corporate-sponsored foundations that can effectively concentrate a firm's good deeds.
d
Firms achieve ___________ through efficient procedures and excellent supply chain management. Select one: a. locational excellence b. value-based pricing c. customer loyalty d. operational excellence e. customer excellence
d
For marketers, one of the benefits of having achieved brand loyalty is Select one: a. increased price sensitivity among loyal customers. b. greater concern about competitors' actions. c. recognition through industry awards. d. lower marketing costs associated with reaching loyal customers. e. few worries about copyright infringement.
d
For some products, marketers can combine education level with other data like occupation and income to obtain Select one: a. a sense of consumers' regional culture. b. consumers' value sensitivity quotient (VSQ). c. complete profiles of individual consumers. d. useful predictions of purchase behavior. e. the educational value equation.
d
Garrett has just purchased a beer distributorship. He wants to increase the visibility of his firm in local markets, but he knows there are a number of regulations and socially accepted practices associated with promoting alcoholic beverages. According to the Framework for Ethical Decision Making, the first thing Garrett should do is to Select one: a. promote the firm's corporate social responsibility efforts. b. choose a course of action. c. brainstorm and evaluate alternatives. d. identify issues that need to be addressed. e. gather information and identify stakeholders.
d
Gerald's Tire Store sets itself apart from competitors by the extra attention it pays to providing fast, courteous service in a clean, professional-looking environment. Gerald's has used this strategy for over 40 years, expanding to 15 outlets. Gerald's Tire Store has created a ___________________ to create and deliver value and to develop a sustainable competitive advantage. Select one: a. segmentation strategy b. diversification strategy c. market development strategy d. macro, or overarching, strategy e. set of metrics
d
If a cable television company had 100 million subscribers at the end of the year, and 2 million of its subscribers left its service, it would have a churn rate of Select one: a. 1%. b. 5%. c. 10%. d. 2%. e. 20%.
d
In mid-2010, Hewlett-Packard Company (HP) acquired Palm Computing, Inc., a manufacturer of personal devices and smart phones. Before deciding to acquire the company, strategic planners at HP spent time thinking about how Palm and HP would fit together, and how the acquisition might change HP's core goals and objectives. The strategic planners were engaged in the ____________ step of the marketing planning process. Select one: a. situation analysis b. identify and evaluate opportunities c. implement marketing mix and allocate resources d. define the business mission e. evaluate performance
d
Internet buyers are sometimes surprised to see online retailers using information about their past purchases to customize promotions targeted to them the next time they visit the retailer's website. The retailer is using the information to Select one: a. shift from a general merchandise retailer to a private-label retailer. b. comply with Homeland Security requirements. c. reward customer loyalty. d. increase the share of wallet from its best customers. e. create traffic in its brick-and-mortar stores.
d
Knowing what customers expect is essential. Retailers need to know which manufacturers their customers prefer, whereas manufacturers need to know Select one: a. whether the products will fill a customer's self-actualization needs. b. whether customers are using credit cards or cash to make purchases. c. how many employees the retailers have. d. where their target customers expect to find their products. e. whether customers will find the store atmospherics appropriate to the location.
d
Marketers need to think about the product offer on three levels. Which of the following levels includes associated services such as warranties, financing, support, and after-sale service? Select one: a. core customer value b. modified product c. actual product d. augmented product e. core product
d
Melanie works for a small computer software company. Her boss is constantly improving its products but neglecting customers, billing, and promoting the company. Her boss is probably stuck in the __________ era of marketing. a. retailing-oriented b. market-oriented c. sales-oriented d. production-oriented e. value-based marketing
d
Naomi knows she has to order her store's Christmas holiday merchandise in April to ensure delivery before the holiday season. Naomi is concerned with the supply chain management goal of Select one: a. providing the right quantities. b. minimizing system-wide costs. c. providing products at the right locations. d. providing products at the right time. e. satisfying the service levels supply chain participants expect.
d
Omar is responsible for marketing and marketing research for a mid-sized manufacturer of assemblies for the housing market. His boss has asked him to cut back expenses, especially in marketing research: "Why can't you just use information off the Internet? There's plenty out there." What is Omar's best response to try to get his boss to change his mind? Select one: a. "This is a matter of principle. I quit." b. "You should never use any information from the Internet in marketing research." c. "I'd rather not use any data at all than use secondary data." d. "Those are secondary data, and they may not be as timely, accurate, and relevant as what we need. Our decisions may not be as good, and we'll run a huge risk." e. "We can try, but if it's wrong it's not my fault."
d
Samples are often used for new products when __________ will influence the diffusion of the product. Select one: a. observability b. compatibility c. complexity d. trialability e. relative advantage
d
Segmentation, targeting, and positioning Select one: a. are terms that can be used interchangeably in developing marketing plans. b. are part of the marketing plan but bear little direct relationship to the marketing mix. c. should be done simultaneously so synergies can help streamline the effort. d. are part of a firm's marketing strategy. e. are optional elements of a marketing plan.
d
Serena studies her customer profiles, market research data, complaints, and other information, attempting to better understand what her customers want. Serena operates in the __________ era of marketing. Select one: a. sales-oriented b. market-oriented c. retailing-oriented d. value-based e. production-oriented
d
SymphonyIRI Group, the National Purchase Diary Panel, and ACNielsen are examples of companies that provide Select one: a. website analytics. b. primary data. c. online survey software. d. syndicated data. e. internal secondary data.
d
The pharmaceutical industry often justifies the high prices for new drugs by arguing that it researches as many as one hundred new compounds before it comes up with one __________, an extremely successful product that pays for the costs associated with the other attempts to develop new products. Select one: a. first mover b. premium product c. pioneer d. blockbuster e. standout
d
Trey sells consumer electronics. He knows his customers weigh the costs versus the benefits associated with the different options available. He decides which products to offer and what prices to charge based on the way his customers think. Trey operates as if he were in the __________ era. Select one: a. value-based marketing b. sales-oriented c. production-oriented d. market-oriented e. retailing-oriented
d
Typically, manufacturers and retailers exchange business documents through aNo __________ system, the computer-to-computer exchange of business documents from a retailer to a vendor and back. Select one: a. radio frequency identification b. floor-ready bundling c. cross-docking exchange d. electronic data interchange e. vertical conflict reduction
d
When Meg planned her trip to Australia, she spent months evaluating packages, airfares, and hotel accommodations. Meg's trip is an example of aNo ________ product. Select one: a. specialty b. unsought c. sought d. shopping e. convenience
d
When auditing expenses claimed by the university president, the auditors found extravagant spending on $1,000 per night hotels, banquets, and gourmet restaurants. The president was fired, alumni donations declined, and staff members—who were disturbed by the extravagance while staff salaries were frozen—quit their jobs. This example illustrates Select one: a. that universities are more corrupt than companies. b. the need to identify issues. c. the lack of information needed to make ethical decisions. d. that the impact of unethical actions can affect the organization in unanticipated ways. e. that the extravagant spending should have been kept quiet to minimize damage to the university.
d
When you register your telephone number with the Do Not Call REGISTRY, you are responding to a need for Select one: a. tactical communication skills. b. marketing contact. c. enhanced information flow. d. privacy. e. lower phone bills.
d
Yuri is considering a new promotional campaign in which he will compare his products to those of his competitors. Before initiating the promotional campaign, Yuri will likely assess his competitors' strengths, weaknesses, and Select one: a. demographics. b. ethical values. c. satisfaction quotient as perceived by customers. d. likely reaction to Yuri's promotional activities. e. just-in-time processes.
d
__________ is the number of items within a product line. Select one: a. Brand equity b. Product mix breadth c. Product mix depth d. Product line depth e. Product line breadth Feedback
d
From a marketing perspective, what separates __________ from the generation before them is that they are individualistic, value leisure time as a high priority, and are trying to maintain their youth. a. Generation Z b. Generation W c. Generation X d. Baby Boomers e. Generation Y
d. Baby Boomers
Benton manages a building supply company. He wants to invite twenty of his most valuable building-contractor customers to a golf outing and party. Benton will likely use the firm's ___________ to identify these customers. Select one: a. website b. inventory management system c. annual sales report d. CRM database e. specialty store sales
d. CRM database
Which of the following is NOT true regarding secondary packaging? Select one: a. It can allow for cost efficiencies due to larger order and shipment sizes. b. It can provide information to consumers not found on the primary packaging. c. It is important to the retailer in terms of convenience in handling. d. It is of little value to the average consumer. e. It can be an important positioning tool to convey the brand image.
d. It is of little value to the average consumer.
Four companies dominate the cereal industry. These firms produce in large volumes, promote heavily, and control access to the supermarket shelves through slotting allowances, which are payments to retailers in return for shelf space. Combined, these four firms have Select one: a. violated laws governing competition. b. achieved product excellence. c. identical marketing mixes. d. a sustainable competitive advantage. e. customer excellence.
d. a sustainable competitive advantage.
It is often difficult for retailers to distinguish themselves from their competitors through the merchandise they carry because a. consumers no longer recognize brand equity. b. there is not enough merchandise to go around. c. big-box food retailers are shifting into specialty store product lines. d. competitors can purchase and sell many of the same popular brands. e. they do not carry enough merchandise.
d. competitors can purchase and sell many of the same popular brands.
The shared meanings, beliefs, morals, values, and customs of a group of people constitute their Select one: a. religion. b. demographics. c. social concerns. d. culture. e. generational cohorts.
d. culture.
Many retail golf stores have driving ranges, some with backdrops showing famous golf courses. These driving ranges allow a. retailers to improve the shopping experience through an improved product line assortment. b. wholesalers to evaluate promotional discounts. c. retailers to avoid competition from knock-off products. d. customers to try before they buy. e. customers to increase their share of wallet spending.
d. customers to try before they buy.
The basic motivating factor in designing supply chains is that Select one: a. the participants must create the best possible EDI system. b. collaboration creates transactional relationships. c. the most powerful member of the supply chain always wins. d. each party wants something from the others. e. retail floor salespeople need emotional support from management.
d. each party wants something from the others.
After assessing the market growth potential and market competitiveness for his company's baby products in Mexico, Harmon wanted to evaluate market access. To do this, Harmon would consider Select one: a. the number of competitors, entry barriers, and product substitutes. b. ease of pricing control and number of promotional outlets. c. the current size of the market and the expected growth rate. d. ease of accessing or developing distribution channels and brand familiarity. e. profitability and customer buying behavior.
d. ease of accessing or developing distribution channels and brand familiarity.
Typically, manufacturers and retailers exchange business documents through aNo __________ system, the computer-to-computer exchange of business documents from a retailer to a vendor and back. a. floor-ready bundling b. cross-docking exchange c. vertical conflict reduction d. electronic data interchange e. radio frequency identification
d. electronic data interchange
Marketers often create a special marketing mix for loyalty segments because these segments are Select one: a. difficult to identify. b. constantly changing. c. too large to service with ordinary targeting. d. generally profitable. e. costly to acquire.
d. generally profitable
Golden Years Vitamin Corporation targets consumers living in Florida who are over age 65. Golden Years is using __________ segmentation. Select one: a. self-actualization b. benefit c. loyalty d. geodemographic e. psychographic
d. geodemographic
During the __________ stage of the product life cycle, sales rise, profits rise rapidly, and there are a small but increasing number of competitors. Select one: a. maturity b. decline c. introduction d. growth e. leveling
d. growth
Eric is a sales rep for an established building materials manufacturer. Business is good, but he is concerned that the company has spent little on new product development and has not created a new product in over five years. Without new products, Eric can only market to his current customers or a. expand his early adopter market segment. b. intensify his prototyping. c. diversify. d. market the same products to similar customers. e. focus on concept testing.
d. market the same products to similar customers.
If you were a marketer for a clothing manufacturer and you wanted to improve revenues from irregulars, production overruns, and returns, you would be attracted to using Select one: a. specialty stores. b. supercenters. c. department stores. d. off-price retailers. e. category specialists.
d. off-price retailers.
Delta Airlines is among the companies experimenting with selling products and services on its Facebook pages. The idea is to make purchasing even easier for customers who may spend large portions of the day with Facebook active on their computers or mobile devices. There is no need even to navigate to Delta's website--users can book a trip in Delta's Ticket Agent application without ever leaving Facebook. Which element of the marketing mix does this represent? a. promotion and value communication b. price and value capture c. positioning and value promotion d. place and value delivery e. product and value creation
d. place and value delivery
A distribution center is typically operated by Select one: a. electronic data interchange services. b. corporate-government joint ventures. c. vertically integrated consumer networks. d. retailers, manufacturers, or distribution specialists. e. the marketing department.
d. retailers, manufacturers, or distribution specialists.
Company sales invoices, census data, and trade association statistics are examples of Select one: a. data mines. b. qualitative data. c. primary data. d. secondary data. e. tertiary data.
d. secondary data
One drawback to marketing products on smartphones compared to other kinds of web experiences is Select one: a. the cost of mobile apps makes it prohibitive for most companies. b. few people use their smartphones for shopping. c. more people access the Web through laptops than smartphones. d. the smaller screen means that less information must convey the same brand image. e. consumers are cynical and don't believe advertising on smartphones.
d. the smaller screen means that less information must convey the same brand image.
Maryam called her auto insurance agent to renew her policy. The agent told her about new types of insurance that are now available--to cover her apartment, or even the engagement ring she just got from her fiancé. The agent was pursuing a ________________ growth strategy. Select one: a. market penetration b. diversification c. market development d. product proliferation e. product development
e
Salina is working to create greater brand awareness for her company's new line of personal digital assistants. To increase brand awareness, the LEAST important information that should be included in promotions is Select one: a. the logo. b. the slogan. c. the packaging. d. the brand name. e. the product history.
e
THE FIRST STEP IN THE STP PROCESS IS TO Select one: a. identify the segmentation methods to be used. b. develop a marketing mix, so that an appropriate segment can later be identified. c. produce a list of strengths and weaknesses of the firm's past marketing strategies. d. select target markets. e. clearly articulate the firm's vision or marketing strategy objectives.
e
The United States has often been called the melting pot society, integrating people from many cultures into the social fabric of the country. The challenge for marketers is to determine whether a group's culture Select one: a. is passed from generation to generation orally or by written guides. b. is socially important. c. competes with or complements U.S. traditional culture. d. is an important immediate marketing environment variable. e. can be used as a relevant identifier for a particular target group.
e
The many demands on consumers today have made it more difficult for marketers to Select one: a. decide what to offer. b. deliver products just-in-time. c. offer green marketing solutions. d. differentiate between the needs of seniors and Baby Boomers. e. grab consumers' attention.
e
When Toyota introduced hybrid cars, there were waiting lists to buy them. Then Honda and a few other manufacturers entered the market, shifting the product life cycle for hybrid cars into the __________ stage of the product life cycle. Select one: a. leveling b. introduction c. decline d. maturity e. growth
e
When a customer purchases a DVD at a Best Buy electronics store, all of the following information flows in the supply chain are started EXCEPT Select one: a. Best Buy's buyer aggregates sales at all stores and uses the information to send a reorder to the manufacturer. b. the point-of-sale terminal records the sale and sends it to Best Buy's buyer. c. the sale is transmitted to Best Buy's distribution center to adjust inventory data. d. the sales associate scans the UPC recording the sale. e. the purchase is added to the customer's purchasing habit records.
e
Which of these is NOT one of the main components of a value proposition? Select one: a. The target market. b. The product/service category or concept being offered. c. The name of the product or brand being offered. d. The unique point of difference or benefits offered. e. The price of the product or service being offered.
e
"Why create a perceptual map?" asked David. Andreas, the senior marketing manager, gave him four reasons. Which of the following is NOT a valid reason? Select one: a. "It's a quick way for senior managers to see not only our product but each of our competitors, all at once." b. "We can easily show where we are positioned and how large the market is." c. "It shows where we aren't—and where our competitors aren't—in our customers' and prospects' minds." d. "It's a way to demonstrate the dimensions that our customers think are important." e. "It's a way to show the position of the company throughout the product's life cycle."
e. "It's a way to show the position of the company throughout the product's life cycle."
At the BMW plant in Spartanburg, South Carolina, suppliers deliver parts every four hours when the plant is in operation and are responsible for removing any packaging or pallets used to deliver their products. BMW uses a ______________ inventory control system. Select one: a. UPC b. CPFR c. lead time d. cross-docking e. JIT
e. JIT
Julia is considering a career in marketing. She is concerned about the image of marketers as fast-talking, high-pressure people who only care about making a sale. When reading about the core aspects of marketing, Julia is relieved to see that in marketing a. distribution is controlled by customers. b. customers are not considered until the product is ready for sale. c. decisions are made regarding how a product is designed. d. promotion is the most important consideration, followed by pricing decisions. e. all parties to an exchange should be satisfied.
e. all parties to an exchange should be satisfied.
Sometimes brand names become synonymous with a product itself. If that happens, the brand Select one: a. has achieved brand stabilization. b. should consider a new packaging strategy. c. easily eliminates all competition. d. should try co-branding to avoid brand dilution. e. could lose its trademark status.
e. could lose its trademark status.
In a __________ distribution center, merchandise moves from vendors' trucks to retailers' delivery trucks in a matter of hours. Select one: a. horizontal b. combination c. traditional d. vertical e. cross-docking
e. cross-docking
Leah is the marketing manager for an electronics company. While on vacation in Ecuador, she visited electronics stores in the major malls in Quito, the capital city. Most of her company's products were available, except for smart phones. When she returned to work, she mentioned this observation to her international sales manager. Leah was providing the important marketing function of Select one: a. synthesizing and interpreting sales, accounting, and customer-profile data. b. advising production on how much product to make. c. engaging customers, developing long-term relationships. d. alerting the logistics department when to ship products. e. identifying opportunities to expand.
e. identifying opportunities to expand.
Ron sells commercial-grade tools to building contractors. Whenever he visits his customers, he looks to see whether they are using his tools for other tasks or have modified the tools for some other purpose. These customers are __________, who can provide ideas for new and improved products. Select one: a. market testers b. concept testers c. reverse engineers d. early adopters e. lead users
e. lead users
After major hurricanes like Katrina, many ethical home repair and building supply businesses continue to charge pre-hurricane prices to their customers, even though due to the huge increase in demand they could charge much more. These firms probably recognize that Select one: a. a transaction orientation is the key to long-term profitability. b. they can make more money from government contracts than from sales to customers. c. none of their competitors would be raising prices. d. if they raised prices they would be in violation of Commerce Department regulations. e. lifetime profitability of relationships matters more than profits from a particular transaction.
e. lifetime profitability of relationships matters more than profits from a particular transaction.
When Ron complained to his bank about the unprofessional behavior of one teller, the branch manager added a code into his accounts alerting all tellers that Ron was a valued customer and to provide whatever service he requests. The branch management included Ron in its __________ segmentation. Select one: a. benefit b. geodemographic c. psychographic d. geographic e. loyalty
e. loyalty
Quitman Enterprises sells its business language dictionary to college students throughout the United States. Joseph Quitman, the owner, wants to start selling the book to international students abroad. Quitman wants to pursue a __________________ growth strategy. Select one: a. diversification b. product proliferation c. product development d. market penetration e. market development
e. market development
The Mayo Clinic in Minnesota is known for top-quality medical care. For decades, even presidents and dictators from around the world flew to the Mayo Clinic to use its services. The Mayo Clinic used its reputation to create additional medical facilities in Jacksonville, Florida, and elsewhere. This is an example of a firm focusing its efforts on satisfying customer needs that a. are easiest to satisfy. b. competitors have tried and failed to satisfy. c. are important to all generational cohorts. d. provide minimal core value. e. match its core competencies.
e. match its core competencies.
Internet sites, physical stores, and kiosks are most closely associated with which element of the marketing mix? Select one: a. proximity b. price c. promotion d. product e. place
e. place
Many small businesses whose competitors are national franchises advertise "we are locally owned" or "we have been here since 1951." This is part of these firms' Select one: a. customer excellence strategy. b. target market. c. market segmentation strategy. d. business mission. e. positioning strategy.
e. positioning strategy.
Laura prefers Sony products and will only purchase alternatives when there are no Sony products available. Laura's brand loyalty means she is most likely a. a brand equity investor. b. a savvy consumer. c. product category committed. d. uninformed about the product category. e. relatively insensitive to price.
e. relatively insensitive to price.
Janelle is shopping for a unique outfit for a benefit dinner dance. She wants it to sparkle and shine, but still feel light, silky, and comfortable. For the highest satisfaction, Janelle likely should Select one: a. start browsing the Internet. b. shop via catalog. c. use M-commerce. d. price match multiple competitors. e. shop in traditional retail stores.
e. shop in traditional retail stores.
What is the lipstick effect? Select one: a. a tendency to buy clothing one has seen on beautiful models b. discrimination against women in the workplace c. the tendency of women to buy more expensive items when they are wearing nice clothes and makeup d. favoritism for women in the workplace e. treating oneself to a small luxury like lipstick and forgoing a luxury vacation
e. treating oneself to a small luxury like lipstick and forgoing a luxury vacation