marketing auburn exam 1
Advantage Airlines has instituted a loyalty rewards program that rewards customers with free Wi-Fi, seat upgrades, and free miles for their continued patronage. What relationship tool is Advantage Airlines using?
Frequency marketing program
Which generational group is most comfortable using digital technologies?
Generation Z
What are stars in the growth share matrix?
High-growth, high-share businesses or products
When a company engages in strategic planning, it must consider which of the following?
How to take advantage of current business opportunities
The goal of a market development growth strategy is to do which of the following?
Identify and develop new markets for current products of a company's market.
Overall, how has the American population changed over time?
It has become more diverse, better educated, and more mobile.
Juniper is a toy manufacturer based in Japan. Which of the following most likely indicates that Juniper is following a diversification strategy?
Juniper enters the U.S. market with a line of children's clothing.
The Anheuser-Busch Emergency Drinking Water Program provides clean drinking water to families in disaster-stricken areas. This is an example of ________ marketing.
cause-related
To exercise their social responsibility, many companies are linking themselves to what type of marketing?
cause-related
For the past few years, Doritos has held a "Crash the Super Bowl" contest in which it invites 30-second ads from consumers and runs the best ones during the game. This is an example of ________.
consumer-generated marketing
Louis Vuitton profitably appeals to families with more financial means. The retailer's approach is most likely referred to as ________.
target marketing
Wonders such as robotic surgery, miniaturized electronics, and antibiotics can be attributed to which marketing environment?
technological
The group of economic factors that affect consumers' purchasing power and spending patterns is called ________.
the economic environment
Selling and advertising are part of a larger set of marketing tools that work together to satisfy customer needs and build customer relationships known as _____________.
the marketing mix
Competitive marketing intelligence is primarily responsible for _____________.
the systematic collection and analysis of publicly available information
A power tool company wants to give its customers access to internal, non-public information about how best to use its product in creative ways. What should the company create to provide customers with this information?
A company extranet
The act of obtaining a desired object from someone by offering something in return is known as which of the following?
An exchange
Which kind of company would most benefit from conducting marketing research?
Both large multinationals like Disney and IBM and small locals truly need market research.
Which of the following describes the current trend in businesses regarding relationships with customers?
Build the right relationships with the right customers.
How do the individual components of a SWOT analysis work together to determine the status of a company?
By ascertaining a company's strengths, relating them to opportunities, minimizing weaknesses, and identifying threats to growth and development
The ultimate goal of the marketing process is to do which of the following?
Capture value from customers.
Nibbles Pet Food Corporation is in the process of developing its new market strategy. The marketing team has already established the company's niche productlong dashpremium, organic dog and cat foodlong dashand contracted to sell it in several high-end pet stores. The team has also determined the optimum price to create value for customers and still make a profit. What does the marketing team need to do now?
Create a promotion strategy to increase customer awareness.
Craig's Craft Beer structures its company in such a way to encourage its most profitable older customers to remain loyal while also targeting a new generation of customers. What is Craig's Craft Beer attempting to build?
Customer equity
Bob's Bicycle Sales and Repair is a brand new company. From a marketing standpoint, what is the FIRST thing Bob's Bicycle Sales and Repair needs to do?
Determine who in the community wants or needs a bicycle or repair service.
The demographic, economic, natural, technological, political, and cultural forces that affect a company's ability to serve its customers make up which of the following?
Macroenvironments
When a company divides the market into groups of customers, it is engaging in which of the following?
Market segmentation
______ consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.
Marketing analytics
MorningLinks, Inc., makes breakfast sausages and has begun to use the slogan, "Start Your Day the Organic Way" to jump on the eco-friendly movement. Unfortunately, as soon as consumers discovered MorningLinks' not-so-organic ingredients, the company began to see a rapid decline in profits and customer loyalty. What was MorningLinks' mistake?
MorningLinks did not deliver on the promise it made.
Vince's Video has suffered in the current economy because fewer people have the money for videos and because people utilize available technology, including online streaming sites like YouTube and Hulu. The videos Vince's Video does sell are often out priced by versions coming from China or Taiwan, or they are accused of damaging the environment. Which of the following marketing impacts has not likely affected Vince's Video?
Not-for-profit marketing
Which of the following BEST describes the research relationships?
Observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research.
Which of the following statements about big data is correct?
One result of big data is that marketing managers are often overloaded and overwhelmed with information.
Which of the following statements about online research is correct?
Online surveys generally have higher response rates than those conducted by mail or phone.
What is the ultimate aim of customer relationship management?
Produce high customer equity.
Which of the following is NOT one of the four Ps of the marketing mix?
Profit
What is a business portfolio?
The collection of businesses and products that make up a company
What is MOST likely to cause a variation in customer-perceived value?
The customer's opinion of what constitutes value
Tammy's Tap Dancing School currently has several question marks in its business portfolio, but it is currently maintaining its market share. At the most recent board meeting, the CEO of Tammy's Tap Dancing School decided to allocate all of the company's profits toward the growth and expansion of this question mark, in order to cause the question marks to become stars. What is likely to happen to this company?
The growth of the company will be unpredictable since there is no guarantee a question mark will become a star.
From a marketing standpoint, which of the following BEST describes Baby Boomers?
They constitute a lucrative market for financial services, new housing and home remodeling, new cars, travel and entertainment, eating out, and health and fitness products.
2. What is the main problem that sellers suffering from marketing myopia face?
They focus more on products than the customer's underlying need.
Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six years, sales have continuously declined and profits have almost completely disappeared. The CEO of Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to Tina's Tunes?
Tina's Tunes is likely to fail because it is ignoring the technological environment.
What is the purpose of the marketing mix as part of the overall marketing strategy?
To elicit a response that influences a demand for the product from the customers the company is targeting
A brand new hardware company is writing its mission statement. Which of the following is the BEST mission statement possible for the new company?
We will help customers build, invigorate, restore, refurbish, or completely redesign their homes or businesses.
Noah's Sporting Goods is having difficulty attaining the credit it needs to expand. What should the company do in order to alleviate its financial situation?
Work out a plan with its financial intermediaries
1. How does the new concept of marketing differ from the old concept of marketing?
a) The new concept focuses on the needs of the customer.
Which of the following illustrates the changing composition of the American family?
an increase in the number of non-family households
Many companies build extensive electronic collections of consumer and market information obtained from data sources within the company's network. This is known as ___________.
an internal database
Which of the following best describes product positioning?
arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers
The role of a company's marketing intermediaries is to do which of the following?
c) Help the company find, promote, sell, and distribute products
A wedding services company changes its marketing strategy to reflect the fact that more LGBT (lesbian/gay/bisexual/transgender) marriages are taking place. The company is offering a broader range of ceremonies that cater to this market. Which of the following environments must this wedding company analyze?
cultural
. Which of the following terms refers to a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers?
customer-perceived value
According to the text, ________ are the most important actors in a company's microenvironment.
customers
Susan now has the buying power to purchase the iPhone that she wanted to buy a year ago. Susan's want has most likely become a ________.
demand
PepsiCo has decided to launch a new energy drink that will have the fewest calories among its competitors. To understand the market potential for the new drink and the demographics and attitudes of consumers who are likely to buy the product (i.e., describe the target market), PepsiCo should most likely use ________.
descriptive research
A market researcher wants to find the cause-and-effect relationship between using organic ingredients in food and the subsequent consumption by customers. He invites ten respondents to his research firm and asks them to taste two identical dishes. The dishes were prepared in a similar manner, but one has natural herbs for flavoring, and the other has artificial flavors. This is an example of ________.
experimental research
Burger Town introduced a new hamburger and released it in two different cities at two different prices. Marketers of Burger Town then analyzed the sales records of their outlets at the two cities, determined the price that resulted in better profits, and used the information to set a nationwide price for their new offering. This is an example of ________.
experimental research
The objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses.
exploratory
You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In exchange, you receive a small payment. You are participating in a(n) ________.
focus group interview
Numbering 49 million or more, this group of consumers is sometimes overlooked because it is less materialistic than other groups and prizes experience, not acquisition.
generation x
Jennifer Davis, the owner of an alcohol distributing company, collects data from her monthly records of sales, costs, and cash flow. In this case, Jennifer is making use of ________ databases.
internal
To develop needed information, marketing information systems utilize _________.
internal databases, marketing intelligence, and marketing research
Jimmy Smith has a limited budget to conduct market research. Which of the following research approaches would provide Jimmy with the most cost-effective way to reach a large number of respondents in a short period?
internet-based surveys
The role of a company's marketing information system (MIS) is important because ______________.
it enables a company to use customer insights to improve relationships with customers
A firm's decision to identify and develop new markets for existing products is a ________ strategy.
market development
Tim Hortons has introduced a Special Shopper Card that allows current customers to pay in advance for coffee and snacks. This effort by Tim Hortons management is most likely an example of ________.
market penetration
When consumers respond in a similar way to a given set of marketing efforts, they can be referred to as a(n) _________.
market segment
Dividing a market into several sections of customers is known as ________
market segmentation
Dunkin Donuts goal to increase customer satisfaction in its coffee by 18 percent during the first 6 months of the new fiscal year is an example of a ________.
marketing objective
Which of the following is a geographic shift that has been observed in the United States in recent times?
more Americans moving to the South
Ford Motor Company issuing a recall that requires customers to schedule appointments with car dealerships to repair faulty igniters would have the greatest impact on the ________ component of its marketing mix.
place
In a marketer's macroenvironment, the ________ environment consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society.
political
Beverly's Burgers came under fire recently when allegations were made that its veggie burgers were actually made with beef. To counter the claims, the restaurant called in a company to test not only its veggie burgers but also the rest of its vegetarian options to prove they lacked meat. The results were displayed publicly on the restaurant's Facebook page. What BEST describes Beverly's Burgers response to the allegations?
proactive
Any contact between a customer and a company is called a(n) _________.
touch point
To create value for customers, marketers must improve the performance of the ______, which includes partnering with suppliers, distributors, and customers.
value delivery network
A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy their needs.
value proposition
