Marketing 230 Chapter's 1-6

From the 1920s to the 1050s, demand for manufactured goods decreased, leading to the ___________ orientation. Select one: a. sales b. market c. revolutionary d. reduction e. production

Answer: A Sales

A survey question that requires a yes or no answer is called a Select one: a. 50-50 question. b. dichotomous question. c. qualifies. d. multiple-choice question. e. bimodal question.

Answer: B Dichotomous question

Discretionary income is associated with all of the following except Select one: a. automobiles. b. furniture. c. education. d. food. e. pets.

Answer: D Food

Compared to a mail survey, telephone surveys have Select one: a. a slower response time, but less cost b. fewer expenses overall c. lower response rates but higher validity d. higher response rates, but higher costs e. faster response time, but less cost

Answer: D Higher response rates, but higher costs

According to the text, a market is defined as Select one: a. a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase those products. b. the percentage of a group of customers that actually buys a specific product from a specific company. c. the buyers of the products that a company develops, promotes, prices, and distributes. d. the specific group of customers on whom an organization focuses its marketing efforts. e. a place to buy products.

Answer: A A group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase those products

By the turn of the twentieth century, the population of the United States had shifted to three large racial and ethnic groups. These groups are Select one: a. African-Americans, Hispanics, and Caucasians. b. Hispanics, Native-American Indians, and Caucasians. c. Asians, African-Americans, and Caucasians. d. Asians, African-Americans, and Hispanics. e. African-Americans, Native American Indians, and Caucasians.

Answer: A African-Americans, Hispanics, and Caucasians

Often, the Delphi technique is used in conjunction with an expert forecasting survey. The major objective is to Select one: a. allow experts to work separately to reach a consensus as to their forecasts. b. allow an opportunity to obtain diverse expert opinions. c. determine if the expert forecasting survey is superior to regression analysis. d. assess the extent to which this year's sales forecast is more accurate than that of previous years. e. reach an accurate sales forecast through the use of multiple sales forecasting techniques.

Answer: A Allow experts to work separately to reach a consensus as to their forecasts

Marketing knowledge and skills Select one: a. are valuable personal and professional assets. b. are most valuable for advertising executives but less important for wholesalers and distributors. c. are not necessary for a nonprofit organization. d. constitute the marketing mix. e. were most important during the production era.

Answer: A Are valuable personal and professional assets

The practice of linking a firm's product marketing to a particular social cause on an ongoing or short-term basis is known as Select one: a. cause-related marketing. b. economic responsibility. c. social responsibility. d. ethical marketing. e. corporate benevolence.

Answer: A Cause-related marketing

Which of the following employees is most responsible for setting the ethical tone for the entire marketing organization? Select one: a. Chief executive officer b. Marketing manager c. Marketing emplyee d. Vice president of marketing research e. Product manager

Answer: A Chief executive officer

The maximum percentage of market potential that an individual firm can expect to obtain for a specific product is the Select one: a. company sales potential. b. company sales objective. c. market share goal. d. sales forecast. e. market potential.

Answer: A Company sales potential

The reputation and well-known brand name of Rolex watches represents a ___________ for Rolex. Select one: a. core competency b. competitive advantage c. market opportunity d. pricing strategy e. strategic window

Answer: A Core Competency

Segmentation variables are usually grouped into four categories: Select one: a. demographic, geographic, psychographic, and behavioristic. b. geopolitical, income, behavioristic, and psychographic. c. attitudes, lifestyles, behaviors, and gender. d. geographic, demographic, psychographic, and attitudes. e. demographic, geographic, religion, and income.

Answer: A Demographic, geographic, psychographic, and behavioristic

Which category of income are marketers most interested in? Select one: a. Disposable income b. Discretionary income c. Extra income d. Total income e. Wealth

Answer: A Disposable income

A competitive advantage exists when a Select one: a. firm matches a core competency to opportunities it has discovered in the marketplace. b. combination of circumstances and timing allow a firm to reach an attractive target market. c. firm observes a fit between the key requirements of a market and its own capabilities. d. firm does marketing better than its competitors. e. firm has a strong marketing plan.

Answer: A Firm matches a core competency to opportunities it has discovered in the marketplace

A target market a. is a specific group of customers on whom an organization focuses its marketing efforts. b. is the same as a salesperson's prospective client list. c. already has several competitors vying for customers' business. d. is a customer group classified as people with similar demographic characteristics. e. involves a large number of customers.

Answer: A Is a specific group of customers on whom an organization focuses its marketing efforts.

When the right combination of circumstances occurs at the right time to allow an organization to take action toward a target market, the firm is faced with a Select one: a. market opportunity. b. market requirement. c. strategic market plan. d. market objective. e. corporate objective.

Answer: A Market Opportunity

A change in the minimum drinking age in any given state illustrates a change in the _____________ for Miller Brewing. Select one: a. marketing environment b. product concept c. marketing concept d. marketing mix e. marketing task

Answer: A Marketing Environment

If a company segments its market on the basis of their reasons for purchasing a particular product, the primary segmentation variable in use is Select one: a. motives. b. lifestyle. c. personality attributes. d. personality. e. benefit expectations.

Answer: A Motives

The Better Business Bureau is probably the best-known Select one: a. nongovernmental regulatory group. b. self-regulatory unit operating at the national level. c. state-operated enforcement agency. d. federal regulatory group. e. national evaluator of advertisements.

Answer: A Nongovernmental regulatory group

An expected level of performance against which actual performance can be compared is a Select one: a. performance standard. b. corrective standard. c. standard performance. d. step in sales analysis. e. standard of excellence.

Answer: A Performance Standard

All the elements, individuals, or units of interest to researchers for a specific study are called the Select one: a. population. b. focus group. c. target market. d. data set. e. sample.

Answer: A Population

While Silk Soymilk engages in environmental scanning and analysis, the company is more likely to change its products and marketing strategies to adapt to environmental forces rather than trying to influence these forces. Silk Soymilk has a(n) _______ approach to marketing environmental forces. Select one: a. reactive b. negative c. proactive d. variable e. inactive

Answer: A Reactive

Marketing ethics Select one: a. refers to principles and standards that define acceptable conduct in marketing. b. maximizes an organization's positive impact and minimizes its negative impact on society. c. is most important for advertising agencies. d. refers to laws and regulations that govern marketing. e. applies well-defined rules for appropriate marketing behavior.

Answer: A Refers to principles and standards that define acceptable conduct in marketing

The three basic forms that a product can take are Select one: a. services, ideas, and goods. b. brands, services, and tangibles. c. goods, ideas, and intangibles. d. ideas, services, and things. e. markets, products, and images.

Answer: A Services, Ideas, and Goods

The FTC can issue a cease-and-desist order, which is an injunction to Select one: a. stop doing whatever caused the complaint. b. appear before the courts. c. pay for damages caused by negligence of the firm. d. report to the FTC immediately. e. close down the firm until further notice.

Answer: A Stop doing whatever caused the complaint

High Gliding Air Academy is developing its marketing mix for the coming year. Its managers know that they must first select ______ which may be the most important decision they make in the planning process. Select one: a. a target market b. a pricing strategy c. a desired profit margin d. a distribution method e. the promotional strategy

Answer: A Target Market

Walmart sells numerous products, including packaged food, produce, automotive maintenance services, eyeglasses, clothing, and toys. Walmart advertises itself as a store where "we save people money so they can live better," focusing on its low prices as the customer's most important need. Walmart's advertising appears to use a(n) _____________ strategy to a market that is ____________ . Select one: a. undifferentiated; homogeneous. b. homogeneous; differentiated. c. differentiated; homogeneous. d. undifferentiated; heterogeneous. e. heterogeneous; undifferentiated.

Answer: A Undifferentiated; homogeneous

In response to organizational pressure to perform, Barry used a deceptive sales tactic to obtain a major sales contract. He was surprised that he wasn't punished for his behavior and even received a substantial bonus for securing the contract. Given the same opportunity in the future, Barry will most likely Select one: a. use similar sales tactic again. b. express his discomfort with the situation to his supervisor. c. not use similar sales tactic again. d. report his employer to the industry's trade association. e. blow the whistle on his employer to a government agency.

Answer: A Use similar sales tactic again

The marketing concept is best defined as Select one: a. a second definition of marketing. b. a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals. c. the inclusion of marketing activities in the activities of an organization. d. a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers. e. the performance of business activities that direct the flow of goods and services from producer to customer or user.

Answer: B A philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals.

The ability to purchase a product is a function of Select one: a. authority. b. buying power. c. needs. d. desire. e. willingness.

Answer: B Buying Power

Codes of conduct are also frequently known as Select one: a. moral codes. b. codes of ethics. c. ethics mandates. d. ethics compliance programs. e. corporate culture.

Answer: B Codes of ethics

Primary data are best described as the Select one: a. data that are necessary for a correct decision. b. data that are observed, recorded, or collected directly from subjects. c. first batch of data collected for a specific study. d. data that are collected inside and outside the organization for some purpose other than the current investigation. e. data that are compiled for some other purpose other than the study in question.

Answer: B Date that are observed, recorded, or collected directly from subjects

Which of the following is not at the generic competitor level for Ford's Expedition sport utility vehicle? Select one: a. Harley Davidson motorcycle b. Ford's Escape SUV c. Enterprise car rental d. Taxi cab ride e. Schwinn mountain bike

Answer: B Ford's Escape SUV

Which of the following is essentially an uncontrollable factor in developing a marketing mix? a.Product adaptations b. Government regulations c. Advertising campaigns d. Pricing strategies e. Retail locations

Answer: B Government Regulations

The percentage of a market which actually buys a specific product from a specific company is referred to as that product's Select one: a. market cut b. market share c. market position d. target market e. strategic segment

Answer: B Market Share

For demographic purposes, a mail survey sent out by the American Cancer Society asks each respondent to identify their race by choosing among a list of possibilities. This common type of question is called a(n) ____________ question. Select one: a. dichotomous b. multiple choice c. optional response d. categorized e. open-ended

Answer: B Multiple choice

Assuming that inflation is low, high buying power characterizes the ____________ stage of the business cycle. Select one: a. succession b. prosperity c. recovery d. depression e. recession

Answer: B Prosperity

Age, rate of product use, location, and gender are all examples of common Select one: a. psychographic variables. b. segmentation variables. c. geographic characteristics. d. demographic variables. e. targeting strategies.

Answer: B Segmentation variables

Honeybees are disappearing at an alarming rate and since they pollinate about a third of all foods we eat, it is an important concern. That's why Haagen-Dazs launched a microsite to increase the awareness of the issue. In addition, it launched a "Twitcause" campaign on Twitter, raising $7,000 in 2 days. This example illistrates the positive consequences of Select one: a. corporate benevolence. b. social responsibility. c. economic responsibility. d. green marketing. e. ethical responsibility.

Answer: B Social Responsibility

Rob Donaldson runs a successful wholesale business that sells equipment to restaurants throughout the Midwest. He is considering purchasing his own fleet of trucks to deliver the equipment instead of relying on a shipper as he is currently doing. This most closely represents a decision about Select one: a. the product he provides to his customer. b. the best way to distribute his products. c. how to effectively promote his business. d. which supplier he should use. e. which market he should target.

Answer: B The best way to distribute his products

Relying on executive judgment for forecasting may be adequate when Select one: a. recent events give the executive specific impressions of product demand. b. the executive has considerable experience and product demand is relatively stable. c. levels of marketing efforts put forth by competitors vary considerable. d. the executive conducts surveys e. product demand is erratic.

Answer: B The executive has considerable experience and product demand is relatively stable

Marketing research is best defined as Select one: a. an intuitive process for making decisions based on personal knowledge and experience to take advantage of market opportunities. b. the systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of market opportunities. c. the collecting of data from secondary sources and internal documents. d. a framework for the day-to-day management and structuring of information gathered by marketers. e. a continuous gathering of data for an organization, the systematic design, collection, to make marketing decisions take advantage of market opportunities.

Answer: B The systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of market opportunities.

To find a target market, a firm can use one of these targeting strategies. Select one: a. product differentiation strategy and the customer differentiation strategy. b. undifferentiated strategy, the concentrated strategy, and the differentiated strategy. c. total market strategy and the undifferentiated strategy. d. demographic strategy and the psychographic strategy. e. socioeconomic strategy and the psychological strategy.

Answer: B Undifferentiated strategy, the concentrated strategy, and the differentiated strategy

To formulate a marketing strategy, one must Select one: a. determine marketing objectives. b. identify and analyze a target market and develop a marketing mix to satisfy individuals in that market. c. develop a statement of what is to be accomplished through marketing activities. d. develop plans for implementation and control. e. develop an adequate marketing control process.

Answer: B identify and analyze a target market and develop a marketing mix to satisfy individuals in that market

If a family spends $2,000 a month on goods and services, how much of that $2,000 goes for marketing activities? a. $500 b. $2,000 c. $1,000 d. $1,500 e. $0

Answer: C $1,000

Micromarketing is Select one: a. marketing efforts that are tightly controlled by high-level executives in the organization. b. developing a very specific marketing mix that will effectively mee the needs of only a small segment of the market. c. a market segmentation approach in which firms focus precise marketing efforts on very small geographic markets. d. creating advertising that is so specific to a certain type of individual that few people outside that micromarket will respond to the message. e. a way to segment the market to meet the needs of individuals with the same motives and personality attributes.

Answer: C A market segmentation approach in which firms focus precise marketing efforts on very small geographic markets

When Disney World wants to have at least 90 percent of its customers indicating they had a memorable and satisfying experience at the park hotels, this is an example of Select one: a. maintaining their corporate identity b. implementing the marketing mix c. a marketing objective d. a mission statement e. a strategic plan

Answer: C A marketing objective

A strategic window is Select one: a. what determines the factors that are most important in making a market attractive or strong. b. customers' requirements or desired benefits. c. a temporary period of optimum fit between the key requirements of a market and the particular capabilities of a firm competing in that market. d. the right combination of circumstances and timing that permit an organization to take action to reach a particular target market. e. the process that seeks information about events and relationships in a company's outside environment.

Answer: C A temporary period of optimum fit between the key requirements of a market and the particular capabilities of a firm competing in that market

There is some concern that marketing research has been used incorrectly by some firms. The major problem comes from __________ because the researcher wants to obtain favorable results. Select one: a. employing large research firms, such as Gallup b. using in-house research departments c. bias and distortion d. trying to be objective about views and opinions e. using an inappropriate sample

Answer: C Bias and distortion

Variables such as geographic location, type of organization, customer size, and type of product usage are used to segment __________________ markets. Select one: a. most target b. international c. business d. government e. consumer

Answer: C Business

Which of the following firms would be most likely to have a monopoly for its competitive environment? Select one: a. American Airlines b. Mitchell Trucking c. Charter Cable TV d. Rogers Plumbing e. Chemlawn Lawn Care

Answer: C Charter Cable TV

The Classic Hotel Group has begun to offer entire floors of rooms in its hotels that are smoke-free, adults-only, and pet-friendly. The Classic Hotel Group is responding to changes in Select one: a. the legal environment. b. cultural diversity. c. cultural values. d. demographics. e. customer demands.

Answer: C Cultural Values

At times, large retailers such as Walmart may be accused of coercion in dealing with intermediaries because of the amount of power and control these large companies have over many of their suppliers. This is most potentially a _____________ related ethical issue. Select one: a. promotion b. culture c. distribution d. pricing e. product

Answer: C Distribution

Of all the federal regulatory units, the _____________________ most heavily influences marketing activities. Select one: a. Food and Drug Administration (FDA) b. Environmental Protection Agency (EPA) c. Federal Trade Commission (FTC) d. Federal Communications Commission (FCC) e. Federal Power Commission (FPC)

Answer: C Federal Trade Commission (FTC)

Systems such as PRIZM and Acorn provide companies with lifestyle and demographic information about neighborhoods throughout the United States. This information is used to aid Select one: a. behavioristic segmentation. b. market density analysis. c. geodemographic segmentation. d. demographic segmentation. e. geographic segmentation.

Answer: C Geodemographic segmentation

The Church of the Latter Day Saints has used advertising for many years, airing a commercial TV spot that shows parents actively playing games with their children. The Church is using marketing to promote its Select one: a. goods. b. services. c. ideas. d. experiences. e. production.

Answer: C Ideas

The real value of marketing research to the organization can best be measured by Select one: a. the increase in sales volume or market share. b. the amount of time spent. c. improvements in the ability to make decisions. d. how much it costs. e. its immediate impact on profits.

Answer: C Improvements in the ability to make decisions

A person's buying power is a function of Select one: a. discretionary income. b. wages, rents, and investments. c. income, wealth, and credit. d. disposable income. e. past income, natural resources, and financial resources.

Answer: C Income, wealth, and credit

Family life cycle is most typically based on Select one: a. income. b. gepgraphic location. c. marital status and age of children. d. occupation. e. buying power.

Answer: C Marital status and age of children

Cameras, counting machines, and scanners are used most often in Select one: a. field settings. b. experimentation. c. observation. d. secondary data gathering. e. surveys.

Answer: C Observation

Three primary methods of collecting information for environmental scanning are Select one: a. company database, executive knowledge, and research. b. secondary sources, company records, and observation c. observation, secondary sources, and marketing research. d. executive knowledge, media, and marketing research. e. marketing research, company records, and advance orders.

Answer: C Observation, secondary sources, and marketing research

The four major competitive structures are Select one: a. monopolies, limited competition, oligopolistic competition, and pure competition. b. monopolies, oligopolies, oligopolistic monopolies, and pure competition. c. oligopolies, monopolies, monopolistic competition, and pure competition. d. pure competition, heavy competition, and pure competition. e. brand, product, total budget, and generic.

Answer: C Oligopolies, monopolies, monopolistic competition, and pure competition

What are some of the common price-related ethical issues? Select one: a. Misleading advertising and predatory pricing b. Additional discounts and price fixing c. Predatory pricing and price fixing d. Loss leaders and deceptive pricing e. Not disclosing the full price and value-pricing

Answer: C Predatory pricing and price fixing

The objective of sampling in marketing research is to Select one: a. control independent variables that might influence research results. b. obtain responses from as many people as possible. c. select representative units from a total population. d. provide data that can be used to test the hypotheses being investigated. e. ensure that measures in the study are reliable.

Answer: C Select representative units from a total population

Kraft purchased the Duracell Battery Company and now operates this division as a separate profit center within the firm. In this example, Duracell is a(n) _____________ unit of Kraft. Select one: a. corporate b. independent c. strategic business d. dependent e. marketing

Answer: C Strategic Business

StarKist Tuna has frequently extolled its dolphin-safe methods of catching tuna. This is an example of Select one: a. community relations. b. strategic philanthropy. c. sustainability marketing. d. consumerism. e. cause-related marketing.

Answer: C Sustainability marketing

Dell segments its business markets into small business, corporate, government agencies, K-12 schools, and higher education institutions. The primary segmentation variable used in this example is Select one: a. secondary product use. b. geographic location. c. type of organization. d. market potential. e. customer size.

Answer: C Type of organization

If a marketing researcher is interested in observing group interaction during an informal, unstructured, and open-ended data collection process, he or she should use Select one: a. a shopping mall intercept interview. b. an on-site computer interview. c. a telephone survey. d. a focus-group interview. e. observation.

Answer: D A focus-group interview

Decreasing sales, increasing expenses, or decreasing profits Select one: a. are to be expected during the marketing research process. b. should be carefully considered before collecting data. c. usually have no effect on the marketing research process. d. are examples of symptoms that point to larger problems. e. are important considerations in designing the research project.

Answer: D Are examples of symptoms that point to larger problems

All companies have a responsibility to _____ so they can provide a return on investment to their owners and investors, create jobs for the community, and contribute goods and services to the economy. Select one: a. offer the lowest price b. provide the largest selection possible c. pay employees more than minimum wage d. be profitable e. obey their customers

Answer: D Be profitable

Tiffany's markets its exclusive jewelry and gifts to high-income individuals interested in high-quality products and a well-known brand name. It uses the same marketing mix to reach this market. Tiffany's uses a(n) _________ strategy. Select one: a. undifferentiated b. heterogeneous c. differentiated targeting d. concentrated targeting e. exclusive targeting

Answer: D Concentrated targeting

When managers at Go Pro are developing their strategic plan, they use a market orientation as a guide to ensure that ________ is an integral part of the process. Select one: a. the marketing function b. the marketing mix c. the best use of their marketing resources d. customer satisfaction e. employee satisfaction

Answer: D Customer Satisfaction

The Kingtel Corporation is expanding operations into countries outside the United States. To improve local managers' responsiveness to local conditions, Kingtel's senior management has decided to delegate decision-making authority further down the chain of command. Kingtel is Select one: a. making a serious error. b. empowering employees. c. centralizing. d. decentralizing. e. building a marketing-oriented organization.

Answer: D Decentralizing

The purpose of market segmentation is to Select one: a. identify a single marketing mix that will be satisfactory for the general market. b. reduce the overall cost of marketing activities. c. differentiate products. d. divide a total market to enable a marketer to develop a more precise marketing mix. e. meet the needs of homogeneous markets.

Answer: D Divide a total market to enable a marketer to develop a more precise marketing mix

In Europe, companies can voluntarily apply for a designation to indicate that their product is less harmful to the environment than competing products. This label is known as the Select one: a. Good Housekeeping Seal. b. Better Product Project. c. Green Marketing Stamp. d. Eco-label. e. Forest Stewardship Seal.

Answer: D Eco-label

Costco believes that most of its sales are to small businesses rather than consumers -- and that women are more likely to be making the purchasing decisions. This is an example of a(n) ___________ that Costco could test through marketing research. Select one: a. sampling error b. conceptual error c. experimental question d. hypothesis e. descriptive sample

Answer: D Hypothesis

Time Warner Cable uses its sales reports broken down by geographic regions as part of its marketing research to determine which markets are most rapidly adopting high-speed Internet connections. In this example, Time Warner Cable is using Select one: a. internal sampling. b. external primary data. c. internal primary data. d. internal secondary data. e. external secondary data.

Answer: D Internal secondary data

A study that is valid and reliable Select one: a. is called a marketing research study. b. is difficult to produce without expert researchers. c. is expensive to implement and complete. d. measures what it is supposed to measure and produces almost identical results in repeated trials. e. measures subtle differences in the population being studied and produces almost identical results in repeated trials.

Answer: D Measures what it is supposed to measure and produces almost identical results in repeated trials

Scott, a buyer for a medium-sized company, is assessing the value of competing software products for use in his firm. Which of the following would not be a customer benefit considered in his determination of this product's value? a. Availability of training assistance b. Ease of installation c. Availability of technical support d. Monetary price e. Speed of delivery

Answer: D Monetary Price

What type of competitive structure exists when a firm produces a product that has no close substitutes? Select one: a. Oligopoly b. Pure competition c. Monopolistic competition d. Monopoly e. Mixed competition

Answer: D Monopoly

Which of the following actions is illegal? Select one: a. Corporate contributions to elected officials. b. Political officials helping businesses secure foreign markets. c. Political officials influencing how much a government agency purchases and from whom. d. Paying political officials not to enforce a particular law. e. Corporate contributions to candidates.

Answer: D Paying political officials not to enforce a particular law

McDonald's supports and funds Ronald McDonald houses for the families of terminally-ill children to stay in to be near their loved ones. McDonald's action demonstrates the fulfillment of _______ responsibility. Select one: a. ethical b. legal c. economic d. philanthropic e. society

Answer: D Philanthropic

Consumer confidence and willingness to spend begins to increase during periods of ________________________ , and marketers must remain very flexible to make the necessary adjustments. Select one: a. growth b. recession c. prosperity d. recovery e. depression

Answer: D Recovery

Socially responsible business practices have provided all of the following benefits except Select one: a. attracting employees. b. creating goodwill toward the organization. c. generating publicity for the firm. d. reducing marketing costs. e. positively impacting local communities.

Answer: D Reducing marketing costs

Based on the work by the Boston Consulting Group, products with a dominant share of the market and good prospects for growth are Select one: a. pigs. b. cash cows. c. dogs. d. stars. e. question marks.

Answer: D Stars

A commercial for the drink SunnyD explains how nutritious it is in comparison to other, more "sugary" drinks. While children under 12 are the most likely consumers of SunnyD, the commercial is aimed at mothers. These mothers represent SunnyD's Select one: a. marketing mix. b. marketing tactic. c. consumer advocates. d. target market. e. marketing strategy.

Answer: D Target Market

Corporate executives often prefer marketing research findings to be put into a report Select one: a. examining the ethical implications of implementing results from the research report. b. full of statistical analysis with details on methods employed by the researchers. c. that exposes no deficiencies or limitations of the research process. d. that is clear, short, and simply expressed. e. expressing the views and beliefs of top management about the research problem.

Answer: D That is clear, short, and simply expressed

Consumerism is Select one: a. marketers' efforts to contribute to the satisfaction and growth of the communities in which they operate. b. President John F. Kennedy's consumer bill of rights. c. the specific development, pricing, promotion, and distribution of products that do not harm the environment. d. the efforts of independent individuals, groups, and organizations to protect the rights of consumers. e. the right to be informed.

Answer: D The efforts of independent individuals, groups, and organizations to protect the rights of consumers

Which of the following best characterizes the forces of the marketing environment? Select one: a. These forces change dramatically over time, but a change in one force is unlikely to impact another force. b. There are few overlapping aspects of these forces; therefore, a change in one is unlikely to result in a change in another. c. The forces are relatively stable over time and are interrelated with one another. d. The forces change dramatically and quickly, and a change in one force is likely to affect the other forces. e. The various forces ensure that the marketing environment will remain fairly certain in the future.

Answer: D The forces change dramatically and quickly, and a change in one force is likely to affect the other forces

In marketing research, a sample is best described as Select one: a. a group that shares a common attribute within a population. b. a small group that is a part of a larger group. c. all the elements, units, or individuals of interest to researchers for a specific study. d. a small portion of a product offered to customers to try a new product. e. a limited number of units chosen to represent the characteristics of a total population.

Answer: E A limited number of units chosen to represent the characteristics of a total population

A marketing ethics issue likely exists when Select one: a. an activity does not benefit the organization but benefits the environment. b. a consumer is dissatisfied with a marketing decision. c. an activity results in increased prices for the consumer. d. company members disagree about a marketing decision. e. an individual or organization must choose from among several actions that must be evaluated as right or wrong.

Answer: E An individual or organization must choose from among several actions that must be evaluated as right or wrong

Marketers primarily focus their environmental analysis on __________________ competitors. Select one: a. generic b. monopolistic c. total budget d. product e. brand

Answer: E Brand

Gucci Group, a marketer of high-fashion products, achieved a company turnaround by ensuring that its brand had the same image and proper display around the world. It also lowered prices on some items, like handbags, to be more competitive. This illustrates a company working to develop a marketing mix that is both ___________ and ___________ . Select one: a. formal; flexible b. consistent; formal c. variable; flexible d. consistent; rigid e. consistent; flexible

Answer: E Consistent; flexible

A set of values, beliefs, goals, norms, and rituals shared by members of an organization is called Select one: a. codes of conduct. b. ethical environment. c. company ethos. d. organizational factors. e. corporate culture.

Answer: E Corporate culture

Proctor & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n) __________ targeting strategy for laundry detergents. Select one: a. concentrated b. undifferentiated c. stratified d. multiuse e. differentiated

Answer: E Differentiated

Consumers buying products online have dramatically affected the ____________ variable of the marketing mix. Select one: a. research b. product c. promotion d. price e. distribution

Answer: E Distribution

In managing customer relationships, the three primary ways profits can be obtained are by Select one: a. enhancing the profitability of existing customers, eliminating customers who provide smaller profits, and finding new customers. b. eliminating long-term customers who have decreased purchases, finding new customers, and increasing sales to existing customers. c. acquiring new customers, enhancing the profitability of new customers, and shorteninig the duration of relationships with existing customers. d. extending the length of relationships with customers, cutting organizational costs, and enhancing the profitability of new customers. e. enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers.

Answer: E Enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers

A marketing plan document usually begins with a(n) Select one: a. summary of current performance as compared with past performance. b. situation analysis. c. opportunity and threat analysis d. introduction to the company's marketing objectives. e. executive summary.

Answer: E Executive Summary

A physical product you can touch is a(a) Select one: a. concept. b. idea. c. service. d. philosophy. e. good.

Answer: E Good

Companies that incorporate ethics and social responsibility into their strategic plans are likely to experience Select one: a. reduced costs. b. disappointed shareholders. c. increased lawsuits. d. negative publicity. e. improved marketing performance.

Answer: E Improved marketing performance

Starbucks provides training and support to its employees, including health care benefits. Through these ___________ efforts Starbucks is better able to deliver quality products and service to its customers. Select one: a. external marketing b. intended marketing c. extended marketing d. internal management e. internal marketing

Answer: E Internal Marketing

Who drafted the Consumer Bill of Rights? Select one: a. Bill Clinton b. George W. Bush c. Ralph Nadar d. Ronald Reagan e. John F. Kennedy

Answer: E John F. Kennedy

After determining that consumers had concerns about fat and carbohydrates, Sardino's Pizza began offering a low-fat, low-carb pizza product. The creation of this new product was the result of Select one: a. a good strategic planning. b. a well-defined mission statement. c. a competitive advantage. d. opportunistic behavior. e. a market opportunity.

Answer: E Market Opportunity

General Electric calculates that the total number of light bulbs sold to consumers in the next year by all light bulb producers is 1 billion, given anticipated marketing efforts by the firms involved. This figure represents the industry's Select one: a. sales potential. b. target growth rate. c. sales objective. d. sales forecast. e. market potential.

Answer: E Market Potential

The Sara Lee Company is attempting to forecast sales for a new ice cream cake. To come up with an accurate forecast, Sara Lee places the product in Atlanta supermarkets for a period of four months. In this instance, Sara Lee is using which forecasting method? Select one: a. Survey b. Regression analysis c. Executive judgment d. Time series analysis e. Market test

Answer: E Market Test

When Campbell's introduced a line of low-sodium soups in response to customer demand, it was following which one of the following philosophies? Select one: a. Customer concept b. Selling concept c. Production concept d. Retailing concept e. Marketing concept

Answer: E Marketing Concept

CyberCycle Inc., is preparing a written document specifying the activities to be performed to implement and control its marketing activities. This document is called the Select one: a. strategic market program. b. strategic business plan. c. marketing program. d. profit plan. e. marketing plan.

Answer: E Marketing Plan

As a firm fulfills its basic economic responsibilities, it must simultaneously Select one: a. have a philanthropic focus. b. utilize green marketing techniques. c. treat its employees equitably. d. follow a code of business ethics. e. obey laws and regulations

Answer: E Obey laws and regulations

An item on the University Book Store's survey asks respondents to tell the store, in their own words, what they like least about textbook shopping. This item would be an example of a(n) __________ question. Select one: a. dichotomous b. multiple-choice c. limited-choice d. force-sum-choice e. open-ended

Answer: E Open-ended

Procompetitive laws are those designed to Select one: a. ensure product safety. b. reduce competition. c. protect the consumer. d. limit business lobbying of government officials. e. preserve competition.

Answer: E Preserve Competition

The element of the marketing mix used to increase awareness of a product or company is Select one: a. product. b. distribution. c. communication. d. price. e. promotion.

Answer: E Promotion

Which sampling design gives every member of the population an equal chance of appearing in the sample? Select one: a. Poll b. Stratified c. Nonprobability d. Quota e. Random

Answer: E Random

Although marketing theory supports the contrary, it is more probable that marketing budgets will be cut during periods of economic Select one: a. uncertainty. b. prosperity. c. recovery. d. expansion. e. recession.

Answer: E Recession

Which of the following is not a purpose of the marketing plan? Select one: a. Specify the allocation of resources b. Assign tasks and responsibilities for implementation c. Monitor the performance of a marketing strategy d. Communicate internally with employees e. Serve as a contract with the customer

Answer: E Serve as a contract with the customer

Any constituent who has a claim in some aspect of a company's products, operations, markets, industry, or outcomes is known as a(n) Select one: a. employee. b. manager. c. shareholder. d. customer. e. stakeholder.

Answer: E Stakeholder

The primary value that a marketer expects to receive from a customer in an exchange relationship is Select one: a. quality merchandise that meets expectations. b. references to other potential customers. c. customer satisfaction. d. few returns of the merchandise purchased. e. the price charged for the product.

Answer: E The price charged for the product

The equation a buyer applies to assess a product's value is Select one: a. value = customer benefits - monetary price. b. value = customer costs - customer benefits. c. value = monetary price - customer benefits. d. value = customer benefits - time and effort. e. value = customer benefits - customer costs.

Answer: E Value= customer benefits-customer costs

If Little Caesars wants to determine the impact of different coupon offers on pizza unit sales, it needs to conduct Select one: a. hypothesis development. b. stratified sampling. c. exploratory research. d. survey research. e. experimental research.

Answer:A Hypothesis development

The manager at a local recreational vehicle store, Off-Road Rage, believes the next two years will be difficult because of an economic recession. Using this forecast, he determines the effect on the industry's market potential and then estimates how his company's potential sales will look based on this outlook. This manager is using a ______________ approach to estimating sales potential. Select one: a. recissionary b. dimensional c. buildup d. pyramid e. breakdown

Answer:E Breakdown