Marketing 1-4
In the context of the marketing mix, which of the following business activities is closely associated with promotion?
Usage of social media to increase products sales
Which of the following statements is true of strategic planning?
A good strategic plan can help protect and grow a firm's resources.
_____ is a thorough, systematic, periodic evaluation of the objectives, strategies, structure, and performance of the marketing organization.
Marketing audit
_____ multiplied by the number of units sold equals total revenue for a firm.
Price
Identify a true statement about the Great Recession.
The Great Recession spread around the globe by 2008.
In the context of populations in the U.S., Millennials:
are now more in number than baby boomers.
In the context of SWOT—internal strengths (S), weaknesses (W), external opportunities (O), and threats (T)—analysis, marketers can identify strengths and weaknesses by focusing on:
employee capabilities.
Issues such as product lines, promotional communications, and pricing are all delineated in the _____.
marketing plan
Which of the following statements is true of a sales-oriented firm?
. It extensively uses personal selling and advertising.
Which of the following statements is true of strategic planning?
It should be based on creativity.
In the context of the marketing mix, which of the following is an element of promotion?
Personal selling
Which of the following practices can help businesses gain a cost competitive advantage?
Using simplified production techniques
The _____ states that people should adhere to their obligations and duties when analyzing an ethical dilemma.
deontological theory
A company can gain a cost competitive advantage by:
reorganizing functional departments into cross-disciplinary teams.
Which of the following statements is true about the trends prevalent among various ethnicities in the ethnic markets?
Asian Americans retain strong core values even if they embrace American values.
Which of the following statements is true of the incomes of baby boomers in the U.S.?
Baby boomers' current incomes are relatively low because many have retired.
Which of the following statements is true of corporate social responsibility?
Businesses have resources, so businesses should be given the chance to solve social problems
Which of the following actions is associated with the niche strategy?
Choosing a target market that is not crucial to the success of major competitors
Which of the following statements is true about a niche strategy?
Companies that adopt a niche strategy have only a small number of customers.
Which of the following activities is carried out during implementation of a marketing plan?
Creating and managing a task force
Which of the following is a distinct feature of a product/service differentiation competitive advantage?
Establishing a brand name
Which of the following statements is true of customer relationship management?
It involves establishing and tracking customer interactions with a company.
The CAN-SPAM Act:
prohibits commercial e-mailers from using false addresses and presenting false or misleading information.
Which of the following can be considered as a demographic information of a person?
Age
_____ is a business's concern for the long-range welfare of both the company and its relationship to the society within which it operates.
Corporate social responsibility
In the context of ethical theories, which of the following statements is true of rule utilitarianism?
Decisions must benefit the most people but through the fairest and most just means available.
_____ is the strategy of preserving market share so that an organization can take advantage of the very positive cash flow.
Holding
Which of the following is a disadvantage of cause-related marketing?
It can lead to consumer cause fatigue
Which of the following statements is true of marketing
Marketing offers great career opportunities in business and nonbusiness organizations.
Which of the following is used in customer relationship management?
On-demand marketing
Which of the following is one of the four major components of the pyramid of corporate social responsibility?
Philanthropy
Identify a true statement about production-oriented firms.
They lack an understanding of the needs and wants of the marketplace.
Which of the following strategies is most closely associated with the societal marketing orientation?
Using clean energy sources
In the portfolio matrix, a _____ has low growth potential and a small market share.
dog
A firm that extensively uses relationship marketing strategies is most likely to:
encourage teamwork among employees.
A person who follows the deontological theory:
follows his or her obligations to another individual or society because upholding one's duty is what is considered ethically correct.
The basic goal of _____ is to increase the short-term cash return without too much concern for the long-run impact.
harvesting
When properly created, a strategic business unit (SBU)
has a specific target market.
In the context of ethical behavior, morals:
may reflect the laws and regulations that affect social and economic behavior.
In the context of the determinants of a civil society, _____ involves the voluntary acceptance of standards established by nongovernmental entities.
self-regulation
The product in the marketing mix includes:
the company image
Which of the following statements is true of strategic planning?
will have its own return on investment
Which of the following statements is true of a target market?
A marketing mix is designed to appeal to a target market.
A code of ethics:
should be in written form to avoid confusion
The marketing mix typically involves:
distribution strategies.
A market-oriented firm defines its business in terms of:
the benefits its customers seek.
In the context of the marketing mix, the product includes:
the name of the brand.
The distribution strategy in the marketing mix is concerned with:
transporting raw materials or finished products.
Which of the following companies adopts a product/service differentiation competitive advantage?
A firm that provides highly reliable products
In the context of SWOT—internal strengths (S), weaknesses (W), external opportunities (O), and threats (T)—analysis, which of the following can be considered as a strength of an organization?
A superior production technology
Which of the following statements is true of marketing?
It focuses on delivering value and benefits to customers
Which of the following statements is true of baby boomers?
They lay emphasis on price and quality while making purchase decisions.
Which of the following statements is true of American teenagers?
They prefer face-to-face communication to communicating electronically.
Which of the following statements is true of Gen Xers?
They spent more time without adult support and guidance than any other age cohort.
In the context of ethics in other countries, which of the following statements is true?
Usage of illegal payments is accepted and expected in various countries
Which of the following should be the main focus of marketers in accordance with distribution strategies?
Physical locations of products
Which of the following statements is true of a sales orientation?
intermediaries are encouraged to push manufacturers products aggressively.
Which of the following is an element of the marketing mix?
Pricing strategies
In the context of the innovation matrix, decisions taken at the _____ level implement changes that use existing assets to provide added convenience to existing customers and potentially entice customers from other brands.
core innovation
Companies can make strategic planning more effective by:
ensuring the participation of top management.
In the context of following up on a marketing plan, _____ entails gauging the extent to which marketing objectives have been achieved during the specified time period.
evaluation
A product/service differentiation competitive advantage can be achieved by:
having a strong dealer network.
An effective marketing objective:
is compared to a benchmark.
In the context of the marketing mix, promotion includes:
public relations activities.
The Federal Trade Commission's Bureau of Competition _____.
seeks out and challenges anti-competitive conduct in the marketplace
In the context of growing ethnic markets, African Americans in the U.S.:
spend more on store brands as compared to the general population.
In which of the following situations are marketers most likely to recognize a practice as unethical?
If the practice is widely used throughout an organization
Which of the following is a drawback of the sales-orientation philosophy?
It cannot convince people to buy goods that are neither wanted nor needed.
Which of the following statements is true of today's consumers in the U.S.?
They are concerned about the nutrition in their food.
In the context of ethical theories, which of the following statements is true of moral relativism?
It does not believe in absolute rules such as laws
Which of the following statements is true about the pyramid model of corporate social responsibility?
It states that if a company does not make a profit, then the other responsibilities are moot.
In the context of the external environment of a business, which of the following statements is true of social media?
The Internet of Things is increasingly being used by many people.
Under the Foreign Corrupt Practices Act (FCPA), _____.
U.S. corporations are prohibited to make illegal payments to foreign governments
In the context of the utilitarian ethical theory, to a utilitarian:
similar predicted solutions can be compared to determine the most beneficial choice.
According to Ansoff's strategic opportunity matrix, which of the following factors is associated with market development?
Adding new uses to products
According to the three levels of ethical development, which of the following statements is true of conventional morality?
A person at this level is concerned how an action will be viewed by others
Which of the following statements is true of the attitude of teens in the U.S.?
According to a survey taken by Piper Jaffary, teens continue to seek peer affirmation.
_____ tells us that costs decline at a predictable rate as experience with a product increases.
An experience curve
In the context of the American demographic profile, which of the following statements is true of Hispanic Millennials?
Hispanic Millennials make a quarter of the Hispanic population in the U.S.
In which of the following situations are marketers most likely to recognize a practice as unethical?
If the practice is very likely to result in a harmful outcome
Which of the following statements is true about the Great Recession of 2008-2009?
It began with the collapse of inflated housing prices.
Which of the following statements is true of a marketing plan?
It defines the business mission and objectives.
In the context of the marketing mix, which of the following statements is true of the product?
It includes not only the physical unit but also its package, warranty, and after-sale service.
In the context of marketing planning, which of the following statements is true of implementation?
It involves a lot of communication for executing a plan.
Which of the following statements is true of customer relationship management?
It involves linking all processes of a company from its customers through its suppliers.
Which of the following statements is true of on-demand marketing?
It is aimed at enhancing customer relationships.
Which of the following statements is true of an effective business mission statement?
It is based on an analysis of anticipated environmental conditions.
In the context of implementation, which of the following statements is true of a task force?
It is established to accomplish a single goal or mission.
Which of the following statements is true of cause-related marketing?
It is the cooperative efforts of a for-profit firm and a nonprofit organization for mutual benefit
Which of the following statements is true of the price component of the marketing mix?
It is what a buyer must give up in order to obtain a product.
Which of the following statements is true of a marketing audit?
It should be carried out on a regular schedule.
In the context of corporate social responsibility, which of the following statements is true of the stakeholder theory?
It states that a company is expected to be a good citizen in its community
Which of the following statements is true of Generation Y?
Its members are tech savvy, but they still use traditional media.
Which of the following strategies can help companies make strategic planning effective?
Making strategic planning an ongoing process rather than an annual exercise
Which of the following strategies can enable companies to gain a cost competitive advantage?
Removing frills from products
Which of the following basic values strongly influenced attitudes and lifestyles during the United States' first 200 years?
Self-sufficiency
In the context of the marketing mix, which of the following business activities is most closely related to distribution strategies?
Storage of raw materials
_____ is charged with enforcing regulations against selling and distributing adulterated, misbranded, or hazardous food and drug products.
The Food and Drug Administration
Which of the following legislations created the Consumer Financial Protection Bureau (CFPB)?
The Restoring American Financial Stability Act
Which of the following statements is true of incomes in the U.S.?
The average family incomes rose slightly in 2013 and 2014.
Which of the following is an element of a competitive environment?
The degree of interdependence within the industry
Which of the following statements is true about the population trends in the U.S.?
The populations of the rural regions of the U.S. are aging.
Which of the following statements is true of the primal 45-Latino society?
The primal culture followed in the societies tends to be regional.
In the context of populations, which of the following statements is true of tweens in the U.S.?
They are an attractive market segment for mobile games.
Which of the following statements is true of the values held by tweens?
They forgo games and are moving toward entrepreneurship.
Which of the following statements is true of the younger Millennials?
They form a more massive group than older Millennials.
According to a Quirk's study, which of the following statements is true of global kids?
They have ranked "getting a good education" near the top of socially desirable attributes.
Which of the following strategies can help business firms stimulate innovation?
Using teams of writers to build scenarios of opportunities and threats
The price component of the marketing mix is:
a competitive weapon for companies.
In the context of marketing planning, implementation involves:
allocating resources.
Hispanic Americans in the U.S.:
believe that the traditional family is the main building block of a healthy community.
In the context of the Boston Consulting Group's (BCG's) portfolio matrix, a _____ is a strategic business unit that generates more cash than it needs to maintain its market share.
cash cow
The _____ compares a current ethical dilemma with examples of similar ethical dilemmas and their outcomes.
casuist ethical theory
In the context of social factors that affect marketing, with component lifestyles, people are:
choosing products that meet their diverse needs.
The stakeholder theory of corporate social responsibility:
considers the management of an organization as one of the stakeholders.
In the context of following up on a marketing plan, _____ provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines.
control
A firm would benefit from production orientation when _____.
it considers the needs of the marketplace
Business firms can stimulate innovation by:
letting employees know that they have the freedom to fail.
When a company defines its mission statement based on its short-term objectives, it is said to be suffering from _____.
marketing myopia
Conformity, a value that strongly influenced attitudes and lifestyles during United States' first 200 years, emphasizes that:
no one should expect to be treated differently from anybody else.
According to the levels of ethical development, at the preconventional morality level, people:
tend to have an egocentric orientation
According to Ansoff's strategic opportunity matrix, a firm that adopts a diversification strategy:
will profit if it enters a new market with little competition.