BUSA 300 test 1

"Tweens" are part of which generational cohort? Baby Boomers Generation W Generation X Generation Y Generation Z

Generation Y

Marketers are more likely to find higher concentrations of foreign-born Americans and recent immigrants in Duluth, Montpelier, and Augusta. smaller states. New York, Los Angeles, and Chicago. coastal resort areas. Great Lakes agricultural areas.

New York, Los Angeles, and Chicago

One example of a customer loyalty program is: - a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases. - a quantity discount offered for large purchases at an office supply store. - all of these. - an "everyday low price" policy on all products at a grocery store. - an extensive customer service training program for new employees at a hair salon.

a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases

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: identical marketing mixes. all of these. a sustainable competitive advantage. achieved product excellence violated laws governing competition.

a sustainable competitive advantage

When a pharmaceutical company develops a new medication, it typically applies for a patent in order to prevent competitors from developing copycat products for several years. Pharmaceutical companies apply for patents in order to establish: an operational excellence macro strategy. a market penetration growth strategy. a sustainable competitive advantage. an efficient supply chain. all of these.

a sustainable competitive advantage

Zara is a women's clothing retailer headquartered in Spain, with stores located in many countries. Zara has developed a "quick response" system that allows store merchandise to be adjusted rapidly to fit changing customer preferences. Every aspect of Zara's operation is optimized for this system, making it difficult for competitors like The Gap to duplicate. Zara has established: customer loyalty. locational excellence. a diversification growth strategy. a sustainable competitive advantage. a related diversification opportunity.

a sustainable competitive advantage

The United States has often been called the "melting pot" society, integrating people from many different cultures into the social fabric of the country. The challenge for marketers is to determine whether a group's culture - is socially important. - is passed from generation to generation orally or by written guides. - competes with or complements U.S. traditional culture. - can be used as a relevant identifier for a particular target group. - is an important immediate marketing environment variable.

can be used as a relevant identifier for a particular target group

In BCG portfolio analysis, products in low-growth markets that have received heavy investment and now have excess funds available to support other products are called: stars. cash cows. question marks. dogs. anchors.

cash cows

Denny is considering the question, "Did our actions have a negative impact on any stakeholder group?" Denny is addressing marketing ethical issues in the __________ phase of the strategic marketing planning process. planning control implementation brainstorming situation analysis

control

Every year, General Mills issues a report discussing how the firm has performed against its own standards of ethical conduct. This report is part of General Mills' __________ phase of their strategic marketing planning process. planning implementation control evolution marketing mix

control

Late in the day on September 11, 2001, the day of the World Trade Center attacks, Americans purchased all the American flags Walmart stores had available, nationwide. These purchases were indicative of regional culture. generational cohort characteristics. country culture. a red/blue marketing campaign. urban demographics.

country culture

Insight Guides, a line of travel books, provides travelers with background information about the people's beliefs, values, and customs. Insight's books educate travelers about a country's social concerns. political parties. demographics. generational cohorts. culture.

culture

Fourteenth National Bank prides itself on offering better service than any of its competitors. If this is accurate, and if customers recognize and value Fourteenth National's superior service, the bank creates and delivers value through: promotional excellence. product excellence. operational excellence. global excellence. customer excellence.

customer excellence

When Ramona, the keynote speaker at a major business leaders' conference, arrived in the middle of the night at the Ritz-Carlton, she was exhausted and her suit was wrinkled from her ten-hour plane trip. The night clerk found someone to dry clean Ramona's suit and have it ready for her morning presentation. She has been a loyal Ritz-Carlton customer ever since. In this example, Ritz-Carlton demonstrated the macro strategy of: customer excellence operational excellence product excellence promotional excellence global excellence

customer excellence

Craig sees that his company's quarterly sales and profits are significantly above projections and says, "That's great. Let's keep doing what we've been doing." Craig is ignoring the __________ step of the marketing planning process. Evaluate Performance Define the Business Mission Situation Analysis Implement Marketing Mix and Resources Identifying and Evaluating Opportunities

evaluate performance

When firms successfully implement poor strategies (perhaps due to good luck) or do a poor job of implementing good strategies, it can be difficult to: - generate cost-based performance ratios. - evaluate performance and make adjustments. - increase product excellence without reducing customer excellence. - develop segmentation strategies. - choose a business mission.

evaluate performance and make adjustments

Multinational corporations are recognizing their responsibility to the people who make their products - when public attention might embarrass the corporation. - if the local government suggests that the company pay bribes to officials. - even if they aren't their employees. - unless another firm actually employs the workers. - when it suits them financially.

even if they aren't their employees

If a firm wants to develop a sustainable competitive advantage, it should: - begin an aggressive campaign to buy up competitors. - copy the innovative features of other firms that are attractive to customers. - examine its operations and customer relations to identify significant things competitors cannot easily copy. - increase its marketing budget so that it outspends its competitors. - arrange to meet with competitors to discuss how to avoid direct competition.

examine it's operations and customer relations to identify significant things competitors cannot easily copy

ABC Company knew that its customers were interested in environmentally friendly business practices, so it began marking all of their products as environmentally friendly because they were made with all natural ingredients, even though ABC's plant was one of the worst polluters in town. The new term for this practice is deceptive advertising. greenwashing. environmental exploitation. virtual greening enviromarketing.

greenwashing

The Johnson & Johnson Credo - was a response to the Tylenol incident. - proved ineffective when the company needed to act in the Tylenol crisis, which was a clear lesson to other companies to update similar documents. - was copied by all other pharmaceutical companies. - offers an extremely detailed description of potential problems for the company. - has guided the firm since it was written in the 1940s.

has guided the firm since it was written in the 1940's

Lamar owns four dry cleaning stores in the suburbs of Orlando, Florida. He recently updated his STP analysis, and has just finished adjusting his marketing mix based on the STP results. His next strategic marketing decision will likely involve: - how Disney World crowds will impact his business. - which employees to promote or fire. - how to allocate resources among his four stores. - what new government regulations might create opportunities or threats. - when to shift from a customer excellence to an operational excellence strategy.

how to allocate resources among his four stores

Hisaoki picks up the local newspaper and reads a stinging letter to the editor criticizing his beverage company for supporting a sporting event for handicapped children. The letter writer is critical of a banner displayed at the event, with the logos of alcoholic beverages and Hisaoki's company name. Hisaoki never considered that this problem might arise. In the Framework for Ethical Decision Making, Hisaoki's company failed to identify issues. promote the firm's corporate social responsibility efforts. gather information and identify stakeholders. brainstorm and evaluate alternatives. choose a course of action.

identify issues

A meat packing company discovers that six months ago it unknowingly distributed meat from a cloned cow. The firm is unaware of any specific risks to humans consuming the meat; however, some scientists have raised questions, and some consumers are afraid of possible future problems. The meat company has to decide whether or not to make this matter public. How should it begin the process of making an ethical decision? - Brainstorm the available alternatives. - Ask its managers to vote for or against public disclosure. - Let the board of directors decide what to do. - Identify the issues raised by the situation. - Find out who purchased the meat, and offer them refunds in return for their silence.

identify the issues raised by the situation

Carla has been directed by her regional marketing manager to cut prices on seasonal items, submit 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? evaluate performance. define the business mission. situation analysis. implement marketing mix and resources. identifying and evaluating opportunities.

implementing marketing mix and resources

Laws that prohibit the formation of monopolies or alliances that would damage a competitive marketplace benefit consumers through increased choices. higher prices. protection from false advertising. fair debt collection practices. all of these

increased choices

Most banks implement customer retention programs aimed at their best customers. They do this because they know that retaining customers usually results in: a product development growth strategy. an operational advantage. opportunities for diversification. increased long term profits. more clearly defined market segments.

increased long term profits

The strategic marketing planning process: - is a five-step process that should always be completed in order. - is frequently used in reverse. - begins with establishing specific, measurable outcomes. - is not always sequential. - forces marketing managers to think rationally.

is not always sequential

The Henry Ford Health System (a health care provider) has set strict limits for pharmaceutical representatives, and will no longer allow doctors in its system to accept free lunches, gifts, or other perks from the pharmaceutical representatives. The Henry Ford Health System probably established this policy because - it reduces the possibility that the Henry Ford Health System might make unethical purchasing decisions. - it ensures that Henry Ford Health System is both ethical and socially responsible. - it ensures that Henry Ford Health System is ethical, but not necessarily socially responsible. - it ensures that Henry Ford Health System is socially responsible, but not necessarily ethical. - it was trying to save money.

it reduces the possibility that the Henry Ford Health System might make unethical purchasing decisions

When considering the use of a radio commercial in England that was designed for U.S. markets, a marketer would likely need to consider which of the following aspects of culture that might be different between the two countries? dress symbols demographics language social trends

language

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 likely reaction to Yuri's promotional activities. demographics. just-in-time processes. satisfaction quotient as perceived by customers. ethical values.

likely reaction to Yuri's promotional activities

After a firm has identified the various stakeholders and their issues and gathered the available data, all parties relevant to the decision should engage in brainstorming and evaluation of alternatives. __________ then review and refine these alternatives, and choose a course of action. Managers The firm's lawyers Key customers Community leaders All stakeholders

managers

Many states create licensing requirements for a variety of professionals (such as lawyers and accountants) designed to restrict entry into their market by professionals from other states. This strategy limits ____________ growth strategies. product proliferation market development market penetration diversification product development

market development

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. product proliferation market development market penetration diversification product development

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 utilize 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 are easiest to satisfy. provide minimal core value. are important to all generational cohorts. competitors have tried and failed to satisfy. match its core competencies.

match it's core competencies

When pursuing a market development strategy, expanding into international markets is generally: - more risky than expansion in domestic markets. - impossible due to negative attitudes about American products. - executed with the help of international trade subsidies. - simplified by creating new products for export markets. - the only option offering substantial opportunities for growth.

more risky than expansion in domestic markets

In a SWOT analysis, increasing gasoline prices would represent a potential __________ for manufacturers of electric cars. weakness threat opportunity operational advantage locational advantage

oppurtunity

In recent years, cellular (mobile) service providers have worked hard to eliminate "dead zones," providing customers with service wherever they traveled. By working to make the network available in more locations, cellular service companies were focusing on __________ value creation. product price promotion place financial

place

__________ involves the process of defining the marketing mix variables so that target customers have a clear, distinctive understanding of what a product does or represents in comparison with competing products. Targeting Market segmentation A sustainable competitive advantage Positioning A customer excellence strategy

positioning

Imagine that you are in a convenience store choosing your favorite "comfort" food instead of being in a classroom taking this test. You might notice the packaging, colors, labels, even the fonts used on labels. All of these efforts are part of the marketer's: value-based promotions. market segmentation. positioning strategy. customer excellence strategy. target market.

positioning strategy

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. product development market development market penetration diversification product proliferation

product development

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? Market penetration Product penetration Market development Product development Diversification

product development

A(n) ___________ is a group of products that consumers may use together or perceive as similar in some way. SBU STP product line market segment promotional service

product line

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 __________. product price promotion place cost-based

promotion

Which of the following is NOT one of the four major growth strategies marketers typically utilize? market penetration market development segment development diversification product development

segment development

Janice was disturbed to find that the real estate company she had just started working for did not have a(n) __________, the starting point for creating a strong ethical climate. ethical behavior seminar set of ethical values employment contract social responsibility program ethical activity bonus

set of ethical values

Subway is a large chain of franchise sandwich shops. Marcia owns three Subway stores in a large city. At the end of the year, she notes that sales rose from two to five percent over last year's sales at Stores 1 and 2, but fell two percent at Store 3. Based on this information, how should Marcia reward (or punish) her store managers? - She should give bonuses to the managers of Stores 1 and 2, and put the Store 3 manager on probation. - She should ignore the sales data; this is not an appropriate marketing metric. - She should give each manager a raise, tied to the store results. - She should review at least ten years of sales data about her stores' performance before making a decision. - She should seek more information about why the stores had different results before making a decision.

she should seek more information on why stores had different results before making a decision

As part of her company's SWOT analysis, Valerie is assessing the company's internal environment, including: strengths. opportunities. strengths and weaknesses. threats. opportunities and threats.

strengths and weaknesses

The automobile manufacturing industry closely watches annual consumer satisfaction surveys. For years, Japanese car companies consistently had the highest levels of customer satisfaction, creating a __________ for these companies. strategic marketing plan clear mission statement cost advantage sustainable competitive advantage diversification strategy

sustainable competitive advantage

When Bernie Ebbers, WorldCom's CEO, was convicted of financial crimes, WorldCom was forced to merge with MCI. One of the ramifications of this merger was the loss of WorldCom's sponsorship of the Sea Pines Heritage PGA golf tournament. The tournament funds the Heritage Foundation, a major community charity. This example illustrates - the need to identify issues. - that the impact of unethical actions can reach far beyond the corporation. - that unethical firms cannot be socially responsible. - the lack of information needed to make ethical decisions. - the questionable advantage of social responsibility.

that the impact of unethical actions can reach far beyond the corporation

The center of all marketing efforts is profits. the consumer. corporate social responsibility. top management. the firm.

the consumer

Heather has been assessing a number of her firm's products using the Boston Consulting Group approach to portfolio analysis. She has been trying to assess the strength in a particular market and is looking at the sales of the product and the overall market as well as the sales of competitors. Heather is trying to determine: the product's relative market share. the market growth rate. a source of competitive advantage. the impact of population shifts on future demand. cash equivalent values for each product.

the product's relative market share

Unlike other business functions like accounting or finance, people in marketing are often singled out as the root cause of ethical concerns because - they are trained in the art of effective persuasive communication. - they are not considered to be as quantitatively skilled as accounting and finance people. - they interact directly with consumers. - the problems that occurred at Enron, Tyco, and WorldCom were caused by marketers. - doing a good job of marketing requires some degree of unethical behavior.

they interact directly with customers

Marketers should not assume that they can target all Asian consumers in the United States with one strategy because - they speak different languages and come from different cultures. - Asians do not respond to marketing efforts. - there are not enough Asians in the United States to effectively target. - each major city tends to have only one group of Asians in large numbers. - one strategy is likely to be more expensive than multiple strategies.

they speak different languages and come from different cultures

The Johnson & Johnson Credo acknowledges the company's responsibility to - users of its products, its employees, the community, and its stockholders. - its stockholders first, its managers, its employees, and its suppliers and vendors. - domestic markets, other countries in the developed world, and finally countries in the developing world. - users of its products, the researchers who develop the products, regulators, and its stockholders. - doctors, nurses, insurance companies, and users of its products.

users of its products, its employees, the community, and it's stockholders

Part of the social trend toward health and wellness is a concern about the increasing degree of obesity in the United States. In addition, trend-watchers are noting the increasing popularity of flu shots. high-carbohydrate diets. yoga. cooking shows on TV. all of these.

yoga

When marketers monitor the economic situation affecting their target markets, they are likely to monitor changes in all of the following EXCEPT purchasing power. interest rates. inflation. age. currency exchange rates.

age

The goal of a customer excellence strategy is to gain loyal customers. Customer loyalty can be developed through: having a strong brand offering unique merchandise providing superior customer service all of these none of these

all of these

After a firm has identified the various stakeholders and their issues and gathered available data related to an ethical decision making situation, __________ should engage in brainstorming and evaluation of alternatives. the senior managers most involved key customers elected officials all parties relevant to the decision any individuals with competing interests

all parties relevant to the decision

Compared to the average company, firms with strong ethical climates tend to employ more business development consultants. offer more goods and services. be more socially responsible. invest more in sales training software. have higher turnover.

be more socially responsible

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 strategic marketing planning process. Situation analysis Implement marketing mix and allocate resources Identify and evaluate opportunities Evaluate performance Define the business mission

define the business

Many of today's college graduates will make their livings providing goods and services to "baby boomers," the large group of Americans born in the period after World War II. Baby boomers are a _________________ market segment. psychological behavioral social product-based demographic

demographic