Exam 1?
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
Cash cows
Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the following question:
"Would segmentation be worth doing and is it possible?"
Geodemographic product and targeted segment?
Metro gear for boomtown singles
Monsters R Us is a new store that plans to serve the needs of zombies, vampires, werewolves, and the like. It turns out that they constitute a small and growing segment, but no other company is meeting their needs currently. What type of competitive advantage does Monsters R Us have?
Niche
When General electric retrieves customer purchasing profile data from its vast computer systems in order to target marketing program, it is accessing secondary data
True
Which of the following statements is an example of place utility?
airlines that allow you to print your own boarding pass at home
By appealing to the different needs/wants of various ethnic groups, McDonald's is using ______ segmentation.
demographic
Demographic product and targeted segment ?
deodorant for college males
A survey by the Economic Research Service of the U.S. Department of Agriculture, government statistics from the Department of Commerce, and stock market information from The Wall Street Journal would all be examples of
external secondary data
A publishing company sponsors an informal one-time-only session with seven college instructors who use a given principles of management textbook. The instructors meet with a moderator who asks their opinions about the textbook, its instructor's manual, its PowerPoint slides, and its video and written cases. This is an example of a(n)
focus group
The Minnesota Twins, a professional baseball team, wanted to develop creative ways to boost sagging attendance at its ball games. The Twins hired a moderator who, after every home game during the month of July, led informal discussions with groups of 6 to 10 fans to find out what they did and did not like about the baseball team and their experience at the stadium. The discussions were videotaped so that researchers could review the data at a later date and in more detail. What are such informal research discussions called?
focus group
Campbell's Soup Company found that its canned nacho cheese sauce, which could be heated and poured directly onto nacho chips, was too hot (spicy) for Americans in the East and not hot enough for those in the West and Southwest. Today, Campbell's plants in Texas and California produce a hotter nacho cheese sauce than what is produced in the other plants. Campbell's is using __________ segmentation.
geographic
In the sneaker market, Reebok and Nike practice __________ positioning since both manufacturers vie for the athletic shoe market with technologically advanced products.
head-to-head
psychographic product and targeted segment?
hybrid car for thinkers (VALS segment)
Because an organization has limited influence on market growth rate, its main alternative for moving an SBU on the portfolio analysis matrix is to try to change its relative market share. The most likely way for a company to turn a "question mark" into a "star" rather than a "dog" is to
inject cash into it
Part of the growth strategy for Yum! Brands, the parent company of KFC, Pizza Hut, and Taco Bell, is expansion of its fast food businesses into new markets, such as China, Russia, and India. This type of expansion would be a __________ strategy.
market development
Honda developed its new CR-Z hybrid model to a distinct segment of consumers as a fun, green, sporty hybrid that stands out as being uniquely different from other hybrid models. This is an example of which of the following?
market positioning
To develop a successful marketing plan for a soft drink soda, the process of __________ would most likely be used to group consumers on the basis of whether they wanted sugar-free and caffeine-free soda, caffeine-free sugared soda, or regular soda with sugar and caffeine.
market segmentation
Chip-N-Dough Cookie Company will let you select cookies and put a photo of yourself on the tin. This is an example of
mass customization
Name Maker is an online company that sells high-end gift wrapping that can have custom slogans or names printed on it, such as the name of a person celebrating a birthday or a couple who is getting married. This made-to-order gift-wrapping is priced from $24.95 to $32.95 per 12-foot roll. This is an example of
mass customization
A student would like to buy cross-over SUV from a local dealer, but she thinks the payments will be too high. Marketing does not occur in this situation because
one of the involved parties does not have the ability to satisfy its needs.
"What is your favorite thing about Target?" followed by several lines for a response is an example of which type of marketing research question?
open-ended
Recently, St. Joseph Hospital was named one of the "Best Places to Work in Indiana" for the sixth consecutive year. The hospital touts universal values to "keep healthcare human" and employees consistently put patients first, which unites them in a common goal. Hospital President Kathy Young believes that St. Joseph __________ makes both her employees and patients happier in her hospital.
organizational culture
Which element of the marketing mix is demonstrated when Mars, Inc. has a sale on M&MS® brand candies?
price
If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts targeted to college students in the U.S., it would be using a __________ strategy.
product development
When evaluating the attractiveness of various segments, McDonald's should consider
profitability
Children's accessory and toy store Red Carpet Baby! uses U.S. Census Bureau information to determine the number of families with children under age 5 for each state in its market area. Data obtained from this source are called __________.
secondary data
Procter & Gamble (P&G) is a consumer packaged goods company where innovation is a key competitive advantage. This allows the firm to develop new products like Crest Whitestrips that consumers crave. P&G also uses its marketing expertise to develop unique product placements on television shows that highlight its brands. A SWOT analysis for P&G would indicate that the innovation that takes place within the firm is a(n) __________.
strength
Suppose you want a snack after taking this exam. a pan pizza from dominoes, which is located across the street from your college. unfortunetly you forgot your wallet in the haste of getting to class on time to take the test. Therefore, you have no means to pay for the pizza. Which of the following reasons explain why marketing fails to occur here between you and dominos
the ability to satisfy a need is missing
The most common way to analyze the frequency of responses to any survey question on a questionaire is by:
A one-way frequency table/ graph
Geographic product and Targeted segment?
Snow blowers for the northeast
Weight Watchers is a weight-management company with operations in about 30 countries. Consumers buy almost $5 billion of Weight watchers-branded products each year, and every week approximately 1.3 million people attend Weight Watchers meetings worldwide. The company's brand recognition and meeting infrastructure are difficult for competitors to match, so they provide Weight Watchers with a distinct
competitive advantage
DirectProtect is an insurance provider that uses telemarketers rather than insurance agents to sell its insurance and to deal with claims. It wants to introduce its product into new markets, but before it does so, it wants to predict how successful its sales efforts will be. The marketing research firm hired to conduct the research study has six months to gather, analyze, and present its data to DirectProtect. The required time frame is an example of a(n)
contraint
According to Mark Zuckerberg, founder and CEO of Facebook "we have a saying: move fast and break things" The idea is that if you nevery break anything, you're probably not moving fast enough. Moving fast to build more things and learn faster is one of Facebook's
core values
The survey method of data collection for marketing research may include
members of a sample completing a questionaire
What is your favorite thing about target? followed by several lines for a response is an example of which type of marketing research question?
open-ended
Solarcom is a 30-year-old information technology company that owns several subsidiaries. One of its subsidiaries is Atlantix Global Systems, which is one of the leading wholesalers for refurbished computer equipment that has a large share of an industry that is growing worldwide. According to the BCG business portfolio analysis framework, Atlantix Global would MOST LIKELY be classified as a BLANK
star
Omar is responsible for marketing and marketing research for a midsized 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?
"Those are secondary data, and they may not be timely, accurate, and relevant as what we need. Our decisions may not be as good, and we'll run a huge risk"
Which of the following is an example of secondary data?
A company looks at a previous taste test conducted in a local supermarket
St. Jude Medical makes cardiovascular medical devices, including the world's most widely used mechanical heart valve. Itsa products include tissue heart vales, pacemakers, and implantable cardiovascular defibrillators. St.Jude's innovation in cardiac devices helps it outperform rivals, and thus provides it with
A competitive advantage
In questionnaire design, a question such as "Do you like Wendy's hamburgers and fries?" would be considered a bad question because it is _______________
A double barrel question
A situation analysis requires a firm to consider the external forces and trends that affect it. Some of these may be favorable to the organization while others may be unfavorable. Which of the following is an example of an external force?
A local government requires that all businesses within the city limits must recycle or be fined.
When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in _____ marketing.
B2B
ExxonMobil targets consumers that fill up their gas tanks more than once a week with its Chase Visa Funds card. In this example, ExxonMobil is using which segmentation variable?
Behavioral
When making important strategic decisions, managters
Believe both qualitative and quantitative research can be useful to gain detailed insight and then statistically confirm findings
Which of the following is an example of a multiple products and multiple market segments strategy?
Betty Crocker carries one line of cake mixes for people with conventional ovens and another line of cake mixes for people with microwave ovens.
At Gina's retail stores, the posted policy reads, "Without our customers, we don't exist." Gina and her staff aim to delight each customer, and they are quick to offer discounts or extra services whenever a customer is anything less than satisfied. Gina and her staff strive to make every customer a repeat customer. It is most accurate to say that instead of focusing on each individual transaction, Gina and her staff put a priority on ________.
Creating long-term customer relationships
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 to uncover patterns of consumers' purchasing behavior. This is an example of ____________
Data mining
While looking for ideas on how to craft a user-friendly dishwasher, the designers of a dishwashermanufacturing company spent 10 days observing people as they used their dishwashers in their homes. In this instance, the designers were conducting a(n) ________.
Ethnographic research
If a firm wants to develop a sustainable competitive advantage, it should ...
Examine its operations and customer relations to identify significant things competitors cannot easily copy
What is meant by qualitative research?
Exploratory research used to gain an understanding of underlying reasons, opinions, and motivations
The survey method of marketing research was developed in order to allow researchers to directly observe and measure individual behavior
False
Indicate your degree fo agreement with the following statements: Strongly agree, Agree, Disagree, Strongly Disagree
Likert Scale
The world has been taken over by aliens. A year later, they make all humans take a survey that includes the question: "How happy are you with this invasion?" The response options range from "Very unhappy (1)" to "Very happy (7)." What type of response is this?
Likert Scale
What type of scale is the following? "Indicate your degree of agreement with the following statement: Marketing is an interesting subject" by checking one of the responses below. ( ) Strongly Agree ( ) Agree ( ) Disagree ( ) Strongly Disagree
Likert scale
Marketing research is designed to provide relevant information in a useful format so that:
Managers can interpret the information and make decisions that will positively impact the company
To develop a successful marketing plan for a soft drink soda, the process of BLANK would most likely be used to group consumers on the bases of whether they wanted sugar free and caffine free soda, caffene free suggested soda, or regular.
Market segmentation
Malcolm Sanders makes customized snowboards for local snowboarding enthusiasts. The demand for snowboards peaks during the winter months, a busy time for Malcolm. He advertises more aggressively and sells most of his snowboards around this time. Which market segmentation approach does Malcolm most likely use?
Occasion segmentation
Qualitative research is characterized by
Open ended questions that allow for deep insights
LeBron James, Alex Rodriguez, and other athletes are paid huge sums of money by companies for celebrity endorsements. If endorsements by these athletes create a clear understanding among consumers of the companies' products in comparison to competing products, they can help with the firm's __________ strategy
Positioning
David manages an upscale Italian restaurant. He would like his customers opinons on a variety of new menu options they are considering offering. He plans on reading the name and description of each dish, as it will appear on the menu, and allowing customers to taste each menu item so that they may provide detailed feedback to the chef and marketing team. David will most likely use BLANK to gather this type of data
Primary research
Marketers often race too quickly into research studies to collect BLANK data because it is designed to address their specific questions, while BLANK data may exist that can sufficiently address the marketer's questions at the much lower cost.
Primary; Secondary
Adidas has decided to introduce a brand new 800 platinum sneaker in a liited market consisting of only four cities. They plan to monitor the reaction of potential customers to the new product, promotions and pricign stragtegies, in order to ensure a more effective nationwide rollout in the future. adidas is going to use
Test marketing
Suppose you want a snack after taking this exam—a Pan Pizza from Dominos, which is located across the street from your College of Business classroom. Unfortunately, you forgot your wallet in the haste of getting to class on time to take the test. Therefore, you have no means to pay for the pizza. Which of the following reasons explain why marketing fails to occur here between you and Dominos?
The ability to satisfy a need is missing.
A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch. He doesn't know how to find a dealer though, and doesn't have Internet access. Which of the following reasons explain why marketing fails to occur here?
There is no way for the parties involved to communicate
A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch. He doesn't know how to find a dealer though, and doesn't have Internet access. Which of the following reasons explain why marketing fails to occur here?
There is no way for the parties involved to communicate.
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 creating:
Time utility
A well-designed internet based marketing research project can cost less yet yield faster results than face to face research
True
Grouping potential buyers into meaningful segments involve meeting some specific criteria that answer the following question
Would segmentation be worth doing and is it possible?
Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the following question:
Would segmentation be worth doing and is it possible?"
St. Jude Medical makes cardiovascular medical devices, including the world's most widely used mechanical heart valve. Its products include tissue heart valves, pacemakers, and implantable cardiovascular defibrillators. St. Jude's innovation in cardiac devices helps it outperform rivals, and thus provides it with
a competitive advantage
ExxonMobil targets consumers that fill up their gas tanks more than once a week with its Chase Visa fuel card. In this example, ExxonMobil is using which segmentation variable?
behavioral
Quantitive research techniques have the disadvantage of
being costly and time consuming
Several years ago, Black & Decker purchased General Electric's small appliances product line. Black & Decker purchased the line because it needed the cash generated from a product line that had a dominant market share in the slow-growth small appliance industry. GE's small appliances product line is MOST LIKELY a __________ for Black & Decker.
cash cow
Several years ago, Black and decker purchased General Electric's small appliances product lines Black and Decker purchased the line because it needed the cash infusion from a product line that had a dominant market share. The small appliance industry is a slow-growth one. The small appliances product line is most likely a BLANK for Black and Decker
cash cow
In order to obtain the best results from its segmentation efforts, McDonald's focuses on
collecting information
Weight Watchers is a weight-management company with operations in about 30 countries. Consumers buy almost $5 billion of Weight Watchers-branded products each year, and every week approximately 1.3 million people attend Weight Watchers meetings worldwide. The company's brand recognition and meeting infrastructure are difficult for competitors to match, so they provide Weight Watchers with a distinct
competitive advantage
Direct Protect is an isurance provider that uses telemarketers rather than insurance agents to sell its insurance and to deal with claims. It wants to introduce its product into new markets, but before it does so, it wants to predict how successful its sales effors will be. The marketing research firm hired to conduct the research study has six months to gather, analyze, and present its data to DirectProtect. The required time frame is an example of
constraint
DirectProtect is an insurance provider that uses telemarketers rather than insurance agents to sell its insurance and to deal with claims. It wants to introduce its product into new markets, but before it does so, it wants to predict how successful its sales efforts will be. The marketing research firm hired to conduct the research study has six months to gather, analyze, and present its data to DirectProtect. The required time frame is an example of a(n)
constraint
According to Mark Zuckerberg, founder and CEO of Facebook, "We have a saying: 'Move fast and break things.' The idea is that if you never break anything, you're probably not moving fast enough." Moving fast to build more things and learn faster is one of Facebook's
core values
Best Foods Company is considering expanding beyond the regional market segments now served by its Hellmann's mayonnaise. One criterion management wants to use to evaluate potential new geographic market segments is whether new equipment must be bought to serve each new segment. This is an example of which criterion used to select target market segments?
cost of reaching the segment
When Gracie was analyzing the findings from a recent survey conducted by her firm, she wanted to understand if there was a difference between age coherts and their level of brand loyalty. She decided to separate the responses to the question on loyalty and by age grouops to test her theory that younger age groups were more loyal to the company's brand than older consumers. She will prepare a BLANK to gain this insight and illustrate the findings.
cross tabulation
A local art gallery keeps information on its customers regarding their preferences for certain artists as well as the style of art that interests them. The gallery uses this information to inform the customers when new products arrive from their favorite artists and targets them with special promotions. In this way, the gallery is using _______ to build loyalty among its customers.
customer relationship management
McDonald's organizes its marketing team to align with its ________.
customer segments
At a Hallmark store you can find several different product lines of greeting cards, likely including Fresh Ink, Nature's Sketchbook, Shoebox, Maxine, Mahogany, and Tree of Life cards—all made by Hallmark for sale in its stores and intended to appeal to different target markets. The Mahogany line is designed to appeal to African-Americans. This is an example of __________ segmentation.
demographic
The "She's Mercedes" campaign targeted a segment of the luxury car market based on what segmentation method?
demographic
When a telemarketer calls to sell a consumer life insurance, the last questions asked is what category does the person's household income falls into (less than $50,000; $50,000 to $99,999; and $100,000 and over). When the telemarketer asks about household income, this indicates the use of which type of consumer variable the firm is using to segment its market?
demographic
A market researcher showed a new brand of designer jeans to several grouops of college students and asked the students to rate the quality. Two weeks later a researcher showed the same college students a television advertisement featuring Scarlett Johanson wearing the new brand and asked the students again to rate the quality. The marketer predicted that after viewing the ad, the students rataings of the new jeans would be more positive. In this experiement students ratings of the new blue jeans served as the
dependent variable
A market researcher showed a new brand of designer jeans to several groups of college students and asked the students to rate their quality. Two weeks later, the researcher showed the same college students a television advertisement featuring movie star Scarlett Johansson wearing the new brand and asked the students again to rate the quality of the jeans. The marketer predicted that after viewing the advertisement, the students' ratings of the new jeans would be more positive than their original ratings. In this experiment, students' ratings of the new blue jeans served as the
dependent variable
GI Designs, a copper furniture manufacturer, increased the price on its copper tabletops by 20 percent for three months to see what the effect would be on its sales. The change in sales is the __________ in this three-month experiment.
dependent variable
The targeting strategy used by Mercedes-Benz is an example of
differentiated targeting
If Ben & Jerry's starts selling children's clothing in Brazil to try to capitalize on its brand name, this would be an example of __________.
diversification
Best Western International, Inc., a national hotel chain, paid couples to videotape themselves as they spent three to seven days on a cross-country trip. From this, Best Western found that women usually decide when to pull off the road, where to stay over night, and what amenities the hotel or motel should have to make their stay more enjoyable. These couples were determining their lodging in a "natural use environment," and so providing __________ research to Best Western.
ethnographic
A survey by the Economic Research Service of the US Department of Agriculture, government statistics of Commerce stock market information from Wall Street Journal would all be examples of
external secondary data
According to research conducted by Canadian cultural anthropologists, Canadians place a high importance on personal relationships. This leads them to be extremely reluctant to buy through an impersonal medium like a telephone. For an insurance company that was hoping to sell insurance through telemarketers, this research would be an example of
external secondary data
The process of taking wool off sheep and using it to make soft sweaters shows how manufacturing can create __________ utility.
form
The process of turning corn into ethanol shows how BIOFuel energy, a Minnesota ethanol produces, can create BLANK utility
form
The process of turning corn into ethanol shows how BioFuel Energy, a Minnesota ethanol producer, can create __________ utility.
form
The William Morris Agency represents country singer Trace Adkins in negotiations with various venues in which he could perform. Imagine that the agency decided the singer would not perform at venues located in small town communities that have less than 100,000 people. Thus, of the agency is using __________ segmentation.
geographic
GI Designs, a copper furniture manufacturer, increased the price on its copper tabletops by 20 percent for three months to see what the effect would be on its sales. The price increase is the __________ in this three-month experiment.
independent variable
When Procter & Gamble Co. acquired the Old Spice brand, it decided to reposition the brand by using a different advertising message to see whether sales would then increase. The new advertising message is the BLANK in this marketing experiment.
independent variable
When Procter & Gamble acquired the Old Spice brand, it decided to reposition the brand by using a different advertising message to see whether its sales would increase. The new advertising message is the __________ in this marketing experiment.
independent variable
Marine Midland Bank sent market researchers door-to-door in the neighborhoods surrounding its branch banks. Each researcher wanted to spend 15 minutes talking with a head of the household about his/her savings accounts to discuss why he/she did not also have checking accounts and credit cards with the bank. Marine Midland researchers were using __________ to collect these data.
individual interviews
What type of scale is the following? "Indicate your degree of agreement with the following statement: Marketing is an interesting subject" by checking one of the responses below. ( ) Strongly Agree ( ) Agree ( ) Disagree ( ) Strongly Disagree
likert scale
Name Maker is an online company that sells high-end gift wrapping that can have custom slogans or names printed on it, such as the name of a person celebrating a birthday or a couple who is getting married. This made-to-order gift-wrapping is priced from $24.95 to $32.95 per 12-foot roll. This is an example of
mass customization.
"HowAboutWe is the fastest, easiest, most fun way to go on awesome dates" is the __________ for the online dating service that focuses on setting up actual activities as dates for its users.
mission statement
The __________ for Facebook is "To give people the power to share and make the world more open and connected."
mission statement
A television advertisement shows several teenagers searching through the refrigerator for something to satisfy their hunger. The refrigerator offers the teenagers many alternatives—celery, bologna, cottage cheese, and box of Hot Pockets Bacon Cheddar Cheese Melt sandwiches (see the photo above). The ad, which shows the teens happily selecting the Hot Pockets sandwiches, appeals to the consumers' __________ for sustenance to satisfy their hunger and attempts to shape their __________ for the advertised product.
needs; wants
SightLife (see the logo above) creates eye banks throughout the world. Its goal is to find cornea donors prepare their tissues for surgery. SightLife is an example of a(n) __________.
nonprofit organization
At the Fisher Price playlab, scientists allow children to play with a variety of toys in development whie they watch their reactions through one way mirror. This helps the Fisher pirce team determine the right features for their product, including shape, size, color and more. This type of research uses
observation
Sephora is interested in improving its store layouts to allow for better flow during busy shopping periods. The researcher in charge of the study would like to examine shopper patterns to determine how frequently customers turn left when they walk into the store and which aisles are most popular. The best method to collect this data would be
observation
Melanie manages a local store for a national drug store chain, and had received complaints from several customers about rude employees. In order to determine the status of her customer service, Shelly hired a team of marketing researchers, who posed as customers shopping in the store. Occasionally, they may buy something, but their primary purpose was to take notes and record the actions of the service staff. The research notes Melanie received were a form of __________ data.
observational
Melanie manges a local store for a national drug store chain, and had recieved complaints from several customers about rude employees. In order to solve the status of her customer service. Shelly hired a team of marketing researchers, who posed as customers shopping in the store. Occasionally they may buy something, but their primary purpose was to take notes and record the actions of the service staff. The research notes Melanie recieved were a form of BLANK dat
observational
For marketing to occur, there must be two or more parties with unsatisfied needs. Dr. Pepper Snapple Group distributes Country Time lemonade in cans through supermarkets at a price comparable to that of soft drinks. The most likely "second" party needed for marketing to occur would bepeople with a desire for a beverage other than soda or water.
people with a desire for a beverage other than soda or water.
The ability to buy a soda from a vending machine demonstrates which element of the marketing mix?
place
Redbox places vending machines at local convenience and grocery stores that allow customers to rent and return popular DVDs 24 hours a day. This creates both __________ and __________ utilities.
place an time
The element of the marketing mix demonstrated when an art gallery suggests a $2.00 donation at the door is __________.
price
Information collected for the first time for a marketing research study to solve a particular issue is called
primary data
Mott's used an advertising campaign to change the way consumers thought about its applesauce from a dinnertime side dish to a replacement for cooking oil in baking. The advertising message was that using applesauce in baking cuts calories and makes the resulting baked good healthier. Mott's used a __________ strategy.
product repositioning
Melanie works for a small computer software company. Her boss is constantly improving the company's products and working toward more efficient production. However, he neglects customers, billing, and promoting the company. Her boss is probably stuck in the __________ era of marketing.
production-oriented
The __________ element of the marketing mix is demonstrated when a company places an ad in the Yellow Pages.
promotion
The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market. Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Homemagazine.
promotion
Magazines like Fitness, Field & Stream, Golf Digest, and Health focus on how people live their lives, and thus all use a __________ segmentation strategy.
psychographic
The special car configurator for women described in the case helps to subdivide this market segment further by recommending car configurations based on
psychographics
Recently, U.S. dairies, struggling to increase milk sales, tried to change the way adults thought about chocolate milk. The dairies wanted to __________ chocolate milk in the minds of adult consumers.
reposition
In the movie Tin Men, two rival salesmen engaged in a variety of dishonest and unethical practices in order to sell aluminum siding to homeowners in 1963. Their job was difficult, in part, because the supply of aluminum siding surpassed the demand for the product and competition was intense. This situation is indicative of the __________ era of U.S. business history.
sales
McDonald's develops position profiles based on which of the following methods?
salient attributes
During its market segmentation process for the Nike LeBron X basketball shoe, which sells for $200+ a pair, Nike decided to concentrate on affluent teens rather than members of high school basketball teams. This is an example of
selecting target market segments to reach.
Solarcom is a 30-year-old information technology company that owns several subsidiaries. One of its subsidiaries is Atlantix Global Systems, which is one of the leading wholesalers for refurbished computer equipment that has a large share of an industry that is growing worldwide. According to the BCG business portfolio analysis framework, Atlantix Global would MOST LIKELY be classified as a __________.
star
The Goodyear Tire Company is organized by regions: North America, Europe, Middle East and Africa, Latin America, and Asia Pacific. These divisions of Goodyear are called
strategic business units
Before Mercedes-Benz created the additional models for the Chinese market discussed in the case, they would have wanted to ensure that this market segment was attractive. One factor to consider would be whether or not there were enough Chinese customers who were potential luxury car buyers—in other words, that the segment was
substantial
The perceptual map in Figure 9-A above shows how various drinks are seen in the minds of adult consumers. Suppose a coffee producer wants to increase sales. As the account executive for the coffee producer's advertising agency, you want to create comparative ads showing that coffee presently is more nutritious than which beverage?
sugared soft drinks
When General Motors purchases information about quality and customer satisfaction research from J. D. Power and Associates, it is acquiring a form of
syndicated external data
When General Motors purchases information about quality and customer satisfaction research from JD Power and Associates, it is acquiring a form of
syndicated external data
When General Motors purchases information about quality and customer satisfaction research from J. D. Power and Associates, it is acquiring a form of
syndicated external data.
Todd Harris and Associates, a New York sales promotion agency, discovered from an analysis of its files that one-quarter (or 25 percent) of its clients generated more than three-quarters (or 75 percent) of its fees and commissions. This is an example of what classic concept?
the 80/20 rule
One thing that is usually true of focus groups is that
they usually inclue 6-12 participants
Dick's Sporting Goods carries baseballs all year around. The same is true for footballs and tennis equipment. With this all-year-around strategy, Dick's Sporting Goods offers __________ utility for these products.
time
What utility does UPS provide when it delivers new DVD releases to Best Buy stores before the Tuesday national release day?
time utility
The first step in the marketing research process is always
to determine the company's research goals
Alamo, a car rental firm, targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year. Alamo likely segments its market by
usage rate
According to the case, the Mercedes CLA model is positioned to appeal to consumers based mostly on
value
benefit product and targeted segment?
videos for babies for new moms
Manufacturers that 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 a(n) ___
weakness