Marketing Ch. 1, Marketing Chapter 2, Marketing Chapter 3, Marketing Chapter 4, CH 5 QUIZ, CH 6 QUIZ, Chapter 16 quiz

What is the nature of demand in business​ markets? A. Demand in business markets is elastic. B. Demand in business markets does not fluctuate. C. Business market demand is independent of consumer market demand. D. Demand in business markets fluctuates less than in consumer markets. E. Demand in business markets is derived demand.

Demand in business markets is derived demand.

The goal of marketing is to do which of the following?

Determine the best way to create value for customers and develop relationships with customers that profit the company

Which of the following is included in the American Marketing​ Association's (AMA) Code of Ethics and stresses consciously avoiding harmful actions or omissions by embodying high ethical standards and adhering to all applicable laws and regulations in the choices we​ make? A.Do no harm B.Avoid deception and misleading marketing practices C.Foster trust in the marketing system D.Incorporate a sense of mission E.Embrace ethical values

Do no harm

Which of the following scenarios best describes the societal marketing concept?

Edward's Earthware attempts to make its pottery in a way that satisfies customers but is also environmentally friendly and sustainable over the long term.

A company's value chain is only as strong as its weakest link. What should a company do to properly gauge the strength of its links and continually improve?

Examine the company's partner relationship management.

Which of the following is NOT likely to be used as an online database that can be assessed by a company to gain information about competitors?

Facebook

Which of the following statements regarding the business market is​ correct? A. The business market is not as large as the consumer market in terms of dollars spent and items purchased. B. In the business market buying​ process, buyers and sellers are less dependent on each other than in the consumer market. C. Business buying decisions are less complex than consumer buying decisions. D. The business market has more buyers than the consumer market. E. Many sets of business purchases are made for one set of consumer purchases.

Many sets of business purchases are made for one set of consumer purchases.

Which of the following describes the process of dividing markets into groups based on​ consumers' knowledge,​ attitudes, uses, or​ responses? A. Economic segmentation B. Demographic segmentation C. Behavioral segmentation D. Geographic segmentation E. Psychographic segmentation

Behavioral segmentation

ChemLinks, Inc., makes breakfast sausages and has begun to use the slogan "Start Your Day the Organic Way" to jump on the eco-friendly movement sweeping consumers' attitudes. Unfortunately, as consumers discovered ChemLinks not-so-organic ingredients, the company has seen a rapid decline in profits and customer loyalty. What was ChemLinks' mistake?

ChemLinks did not deliver on the promise it made.

Which of the following is NOT a social factor influencing consumer buying​ behavior? A. Reference groups B. Cognitive dissonance C. Online social networks D. Opinion leaders E. Word of mouth

Cognitive dissonance

Consumers obtain information from numerous sources. Which of the following involves dealer and manufacturer​ websites, packaging, and​ displays? A. Commercial sources B. Public sources C. Personal sources D. The internet E. Media sources

Commercial sources

Nibbles Pet Food Company is in the process of developing its new market strategy. The marketing team has already established the company's niche products - premium, organic dog and cat food - and 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.

Criticism has been leveled at marketing for negative impact on other businesses. Of the​ following, which does NOT fall within those​ criticisms? A.Reducing competition through acquisitions B.Harming competitors through acquisitions C.Unfair competitive marketing practices D.Creating false wants and too much materialism E.Practices that create barriers to entry

Creating false wants and too much materialism

Which of the following types of marketing calls for building​ long-run consumer​ engagement, loyalty, and​ relationships? A.Innovative marketing B.Customer value marketing C.​Sense-of-mission marketing D.Societal marketing E.​Customer-oriented marketing

Customer value marketing

Which of the following would make a segment less attractive to​ enter? A. A lack of aggressive competitors B. Very few substitute products C. Suppliers with weak bargaining power D. New entrants finding it easy to enter the segment E. Buyers with weak bargaining power

New entrants finding it easy to enter the segment

Which of the following needs in​ Maslow's hierarchy is generally satisfied​ first? A. Physiological needs B. Esteem needs C. Safety needs D. ​Self-actualization needs E. Social needs

Physiological needs

At one​ time, Miller Beer was known as the​ "champagne of bottled​ beer." It was targeted at an elite class of customers.​ Later, to increase​ sales, Miller was repositioned to attract members of the working middle class. What is this segmentation method​ called? A. User status B. Usage rate C. Behavioral D. Psychographic . E. Benefit

Psychographic

Ted's Tunes is a music store that has been selling CDs for 20 years. Throughout the last 6 years, sales have continuously declined and profits have almost completely disappeared. The CEO of Ted's Tunes believes a resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to Ted's Tunes?

Ted's Tunes is likely to fail because it is ignoring the technological environment.

What is a business portfolio?

a collection of businesses and products that make up a company

A power tool company wants to give its customers 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

What is CRM?

a system of customer management

The act of obtaining a desired object from someone by offering something in return is known as which of the following?

an exchange

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

A company is conducting market research to determine the best areas to sell its product. It has already determined its research questions and gathered its data. What is the next step for this company in its research plan?

analyze the data and apply it to the marketing situation

Through sustainable​ marketing, both businesses and consumers​ ___________________. A.embrace ethical values B.are asked to​ "do no​ harm" C.are both called to more responsible actions D.create a code of conduct E.display trust in the marketing system

are both called to more responsible actions

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

________ includes practices such as falsely advertising​ "factory" or​ "wholesale" prices or a large price reduction from a phony high retail list price. A.Excessive markups B.Deceptive packaging C.Deceptive pricing D.Deceptive promotion E.High advertising

deceptive pricing

Julie's Jump Rope Emporium is a brand new company. From a marketing standpoint, what is the first thing Julie's Jump Rope Emporium needs to do?

determine who in the community wants or needs a jump rope

Numbering 83 million or more, this group of consumers face high unemployment, are saddled with more debt, and embrace technology as a way of life.

echo boomers

Which of the following describes an organized movement of concerned​ citizens, businesses, and government agencies designed to protect and improve​ people's current and future living​ environment? A.Societal marketing B.Sustainable marketing C.Conscious consumption D.Consumerism E.Environmentalism

environmentalism

When marketers want to promote their products and services through​ word-of-mouth marketing​ programs, they typically begin by​ ________. A. identifying and targeting late adopters B. developing print and radio advertisements C. generating​ person-to-person brand conversations D. withdrawing from online social networks E. pushing​ one-way commercials at customers

generating​ person-to-person brand conversations

The principle of​ ________ marketing requires that a company continuously seek real product and marketing improvements. A.​sense-of-mission B.conscious consumption C.​consumer-oriented D.customer value E.innovative

innovative

Having a good MIS is important because?

it enables a company to use customer insights to improve relationships with customers

A marketing dashboard is used to do which of the following?

measure the return of investment for a marketing strategy

The suppliers, marketing intermediaries, customer markets, and competitors that affect a company's ability to serve its customers make up which of the following?

microenvironment

What is the ultimate aim of customer relationship management?

produce high customer equity

Which of the following is NOT one of the marketing management functions?

promoting

The purpose of business legislation is primarily based on?

protection

H2Coast, an automobile​ manufacturer, produces​ fuel-efficient hybrid vehicles that are targeted toward​ high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on​ ________ variables. A. universal B. demographic C. psychographic D. geographic E. behavioral

psychographic

Which of the following is NOT a problem involving the natural environment that marketers need to consider?

renewable resources

The group of economic factors that affect consumers' purchasing power and spending patterns is called which of the following?

the economic environment

Selling and advertising are a part of a larger set of marketing tools that work together to satisfy customer needs and build customer relationships known as

the marketing mix

A value chain consists of which of the following?

the series of internal departments that carry out value-creating activities

Which of the following factors is most important to take into account when developing a good MIS?

the usefulness of the information offered

What is the purpose of the marketing mix, as a part of the overall marketing strategy?

to elicit a response that influences a demand for the product from the customers that the company is targeting

Why is good marketing management critical?

to ensure that the company serves as many customers as it can and as well as it can

Why is it important for a company to collect both primary and secondary data when conducting marketing research?

to have a "full picture" of the subject of its study

What is the overarching goal of CRM?

to secure customer loyalty

Allen Emory is a manager at Splastastic Watersports. He has been trying to set up the best MIS the company has seen and is requesting his employees to gather all of the information they possibly can. Unfortunately, the company does not seem to be improving and is actually losing its share of the waterspouts industry. Why might this be?

too much information can be as harmful as too little

All of the following can be considered problems with gathering primary data for an international company except?

unavailability of resources

Rod's Radical Racers is an upscale company that sells cars primarily to race car drivers and movie producers. In the past, Rod's Radical Racers was marketed as selling cars for the fun-loving driver - the driver who wanted to "race with life." However, in the current economy, Rod's has changed its slogan to "superior speed, superior savings." Rod's Radical Racers is engaging in which of the following?

value marketing

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.

Proactive businesses often take aggressive actions to affect consumers and the forces in their marketing environments. Which of the following would not represent a proactive company?

Alphie's Soups refusing to counter false allegations of rat feces in its soups.

Andy Eldridge owns 27 acres on a farmstead in Iowa. Recently, as he was plowing a field, he came across a rich silver vein in the ground. Realizing his bounty, he decided to open a new business selling silver. Not knowing much about the marketing environment, he asks you what he should do. Which of the following would be the best advice?

Andy should focus on the business market and sell the raw silver for further processing.

When Subaru of America allows Outback buyers to customize cars to meet their exact needs and​ preferences, it is practicing which type of​ marketing? A. Concentrated marketing B. Segmented marketing C. Undifferentiated marketing D. Micromarketing E. Differentiated marketing

Micromarketing

What is the first step of the buyer decision​ process? A. Purchase decision B. Need recognition C. Alternative evaluation . D. Information search E. ​Post-purchase behavior

Need recognition

How do market demands relate to needs and wants?

Needs are satisfied by wants, and buying power converts wants into demand.

Scott Frost has been coming to Aldwin's Diner for 20 years and refuses to go anywhere else. Joseph, the owner of Aldwin's, loves Scott's loyalty but admits he purchases only a cup of coffee each visit. Scott would best be described as which of the following?

barnacle

According to the sustainable marketing​ concept, a​ company's marketing objectives should support the​ ___________________________. A.best​ long-run performance of the marketing system B.​company's value-based marketing objectives C.overall strategic plans and revenue goals of the organization D.​company's long-term revenue and profit goals E.​company's sense of mission

best​ long-run performance of the marketing system

Which kind of company needs market research more?

both large multinationals like Procter and Gamble or small locals truly need marker research

Which of the following identifies a change in the technological environment that could affect the success of a business?

A company develops a new battery that lasts twice as long as its predecessor.

Socially responsible target marketing would classify which of the following as an especially vulnerable target market for harmful or controversial​ products? A. Females B. Baby boomers C. Children D. Single households E. Wealthy consumers

Children

Which of the following refers to the degree to which an innovation fits the values and experiences of potential​ consumers? A. Divisibility B. Communicability C. Compatibility D. Complexity E. Relative advantage

Compatibility

Which of the five characteristics identified has an inverse relationship with an​ innovation's rate of​ adoption, meaning as this characteristic​ increases, the rate of adoption is​ slower? A. Communicability B. Complexity C. Divisibility D. Relative advantage E. Compatibility

Complexity

The website leftyslefthand.com markets products to​ left-handed consumers only. Which targeting strategy does this​ represent? A. Concentrated marketing B. Differentiated marketing C. Micromarketing . D. Undifferentiated marketing E. Segmented marketing

Concentrated marketing

Which of the following is likely to slow the adoption of a new​ technology? A. Divisibility B. Communicability C. Conceptual complexity D. Compatibility E. Relative advantage

Conceptual complexity

​________ marketing means that the company should view and organize its marketing activities from the​ consumer's point of view. A.​Sense-of-mission B.​Consumer-oriented C.Customer value D.Societal E.Innovative

Consumer oriented

How has the Great Recession of 2008-2009 affected consumers' attitudes?

Consumers are showing an enthusiasm for frugality.

Braden has started a new company, Braden's Boots. He has decided upon the overall purpose and mission, created detailed objectives to guide the company, and performed detailed portfolio analysis. Unsure of his next step, he looks to his partner Alistair for advice. What would be the best advice for Alistair to give?

Develop detailed marketing and departmental plans that will support the company-wide plan.

___________ segments are those segments that are conceptually distinguishable and respond differently to different marketing mix elements and programs. A. Measurable B. Substantial C. Differentiable . D. Actionable E. Accessible

Differentiable

_______________ is a characteristic important in influencing an​ innovation's rate of adoption and described by the degree to which the innovation may be tried on a limited basis. A. Communicability B. Complexity C. Divisibility D. Motivation E. Relative advantage

Divisibility

Which of the following means striving for building relationships and enhancing consumer confidence in the integrity of marketing by affirming these core​ values: honesty,​ responsibility, fairness,​ respect, transparency, and​ citizenship? A.Incorporate a sense of mission B.Never be deceptive C.Foster trust in the marketing system D.Do no harm E.Embrace ethical values

Embrace ethical values

Teach-Me Tutoring Company, located in the city of Education, is known for its awesome teachers and cutting edge curriculum. Its marketing team has done a superb job in ensuring that everyone in Education is familiar with the company. However, the company is not prospering, and current customers are complaining about the company's service. What is the next step for Teach-Me Tutoring, in order to help the company begin to show a profit?

Examine its value delivery network

Munoz Specialty Foods groups its customers by regions in the United​ States, such as​ Midwest, Northeast, and Southwest. For each​ region, Munoz creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its​ market? A. Personality B. Demographic C. Behavioral D. Benefits sought E. Geographic

Geographic

Which of the following describes the current trend in businesses regarding relationships with customers?

Hand-pick the most profitable customers and allow them more input

The role of a company's marketing intermediaries is to do which of the following?

Help the company find, promote, sell, and distribute products

When a company engages in strategic planning, it must consider which of the following?

How to take advantage of current business opportunities

The​ Ritz-Carlton has carefully created a strong and distinctive differentiation​ strategy, which is supported by everything the company​ says, is, and does. Which type of differentiation is​ this? A. People differentiation B. Product differentiation C. Image differentiation D. Services differentiation E. Channel differentiation

Image differentiation

Which of the following is NOT one of the typical advantages of​ e-procurement systems? A. Finding better supplier resources B. Improving​ customer-supplier relationships C. Allowing buyers to focus on more strategic issues D. Eliminating paperwork E. Reducing time between order and delivery

Improving​ customer-supplier relationships

Overall, how has the American population changed over time?

It has become more diverse, better educated, and more mobile.

Which of the following is a valid concern when it comes to the four P's?

It uses the seller's view of the market.

Which of the following are​ tradition-bound, suspicious of​ changes, and adopt the innovation only when it has become something of a tradition​ itself? A. Early mainstream B. Lagging adopters C. Late mainstream D. Innovators E. Early adopters

Lagging adopters

NOP Company's best-selling product for years was its portable CD player. However, in recent years, due to the development of MP3 players and iPods, sales have plummeted and are unlikely to rebound. Which is the best approach for NOP Company to take?

Liquidate the CD player division and use the funds to support better-selling products.

Which of the following lists the five steps of the buyer decision process in the correct​ order? A. Need​ recognition, information​ search, evaluation of​ alternatives, purchase​ decision, and​ post-purchase behavior B. Need​ recognition, evaluation of​ alternatives, information​ search, purchase​ decision, and​ post-purchase behavior C. Need​ recognition, purchase​ decision, information​ search, evaluation of​ alternatives, and​ post-purchase behavior D. Need​ recognition, information​ search, purchase​ decision, evaluation of​ alternatives, and​ post-purchase behavior E. Purchase​ decision, need​ recognition, information​ search, evaluation of​ alternatives, and​ post-purchase behavior

Need​ recognition, information​ search, evaluation of​ alternatives, purchase​ decision, and​ post-purchase behavior

All of the following are aspects of sustainable marketing except which one?

Observe environmental legislation as it is instituted

Which of the following is a personal characteristic influencing a​ consumer's buying​ behavior? A. Motivation B. Status C. Occupation This is the correct answer. D. Family E. Social networks

Occupation

Which of the following is a variable used to segment business buyers that is not used to segment consumer​ buyers? A. Personal characteristics B. Purchasing approaches C. Psychographics D. Situational factors E. Operating characteristics

Operating characteristics

Which of the following describes the process of arranging for a market offering to occupy a​ clear, distinctive, and desirable place relative to competing products in the minds of target​ consumers? A. Differentiation B. Market targeting C. Market segmentation D. Mass marketing E. Positioning

Positioning

The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the first stage in this​ process? A. Proposal solicitation B. Problem recognition C. Supplier selection D. General need description E. Supplier search

Problem recognition

Emmy's Elegance has started to grow larger than Emmy could have ever imagined. She is having a hard time keeping track of all of the business' marketing activities. She knows that she is going to need help to keep her business growing and is looking to hire. Who should Emmy hire?

Remy Ashmore, a marketing specialist who would be hired as Emmy's new chief marketing officer

A​ company's marketing should support the five sustainable marketing principles. Of the​ following, which is NOT among those​ principles? A.Salutary marketing B.​Sense-of-mission marketing C.Societal marketing D.Innovative marketing E.Customer value marketing

Salutary marketing

Amazon is now promising​ same-day pick-up of goods as well as local secure​ pick-up points. What point of differentiation is​ this? A. Product differentiation B. Services differentiation C. Image differentiation D. Channel differentiation E. People differentiation

Services differentiation

Ethel and Jan have just started a new company, Jantel, Inc., and are having trouble deciding which marketing path to take to drive sales. Ethel believes they should follow a make-and-sell philosophy that focuses on improving their product, whereas Jan believes they should be more customer-oriented and find the right products for their customers. Which of the following best describes this situation?

Should Jantel, Inc., follow a product or marketing concept?

____________ is one problem with​ business-to-business e-procurement. A. Increased transaction costs B. Increased time between order and delivery C. Reduced purchasing efficiency D. Suppliers being pitted against one another E. Increased paperwork requirements

Suppliers being pitted against one another

_______________ consists of many different people who play multiple roles in the buying process. A. The buying nucleus B. The buying center C. The purchasing team D. Buying agents E. Buying actors

The buying center

What is most likely to cause a variation in customer-perceived value?

The customer's opinion of what constitutes value

How do company objectives and goals relate to the company mission statement?

The goals and objectives outline the steps necessary to accomplish the company's mission statement.

Ice Cold Ice Cream Company 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 Ice Cold Ice Cream decided to allocate all of the company's profits toward the growth and expansion of these question marks, in order to cause the question marks to become stars or cash cows. What is likely to happen to this company?

The growth of the company will be uneven and sporadic, because question marks are equally likely to succeed of fail.

How has the Internet most affected companies and customers?

The internet has allowed consumers to take marketing content and share it.

How does the macroenvironment of a company differ from its microenvironment?

The macroenvironment deals with societal forces, and the microenvironment deals with creating value.

_____________________ determines if a buyer is satisfied or dissatisfied with a purchase. A. How others feel about the purchase B. The number of alternatives considered in the purchase decision C. The relationship between the​ consumer's expectations and the​ product's perceived performance . D. The amount of information gathered in the​ decision-making process E. Whether or not the buyer experiences cognitive dissonance

The relationship between the​ consumer's expectations and the​ product's perceived performance

Which of the following is NOT a factor that makes it difficult for companies to adhere to legislation in the business environment?

The shrinking number of laws currently in existence

Which of the following states that managers must look beyond what is legal and allowable and develop standards based on personal​ integrity, corporate​ conscience, and​ long-term consumer​ welfare? A.The sustainable marketing concept B.The societal marketing concept C.The​ sense-of-mission marketing concept D.The​ consumer-oriented marketing concept E.The customer value marketing concept

The sustainable marketing concept

Why is marketing ROI so difficult to measure?

There is no consistent definition.

From a marketing standpoint, which of the following does NOT describe Gen Xers?

They are more receptive to overt marketing pitches.

What is the main problem that sellers suffering from marketing myopia face?

They focus more on products than to the customer's underlying need.

What is the importance of selling and advertising in marketing?

They work in tandem with developing good customer relations.

According to the model of buyer​ behavior, what is in a​ buyer's "black​ box"? A. The​ buyer's wants,​ needs, and preferences B. The​ buyer's purchase and​ post-purchase behavior C. The​ buyer's attitudes and preferences D. The​ buyer's economic and social preferences E. The​ buyer's characteristics and decision process

The​ buyer's characteristics and decision process

_________ refers to the practice of integrating ethnic themes and​ cross-cultural practices within a​ company's mainstream marketing. A. Total market strategy B. Cause marketing C. Buzz marketing D. Viral marketing E. Guerilla marketing

Total market strategy

Because of deceptive acts or practices by​ companies, Congress has enacted legislation designed to protect consumers. Which of the following was enacted to protect consumers against deceptive acts or​ practices? A.Consumer Rights Act of 2015 B.​Wheeler-Lea Act of 1938 C.Fair Credit Reporting Law D.Credit Card​ Accountability, Responsibility, and Disclosure Act E.Federal Trade Commission Act of 1914

Wheeler-Lea Act of 1938

Richard's Cowboy Gear is having difficulty attaining the credit it needs to expand. Which of the following should the company do in order to alleviate its financial situation?

Work out a plan with its financial intermediaries

Which of the following best defines a customer touch point?

a contact between the customer and the company

To be successful, why should companies try to adopt a proactive stance to marketing?

a proactive stance allows a company to influence the market in its favor

Kidcomp, an American​ computer-manufacturing firm, targets children younger than age 10 by providing free games and applications. The​ firm's marketing approach is reflective of​ ________ segmentation. A. gender B. geographic C. age and​ life-cycle D. lifestyle E. income

age and​ life-cycle

A company is attempting to gather information about its customers in order to improve its customer service. Which of the following is the best place for this company to start to develop an efficient MIS?

assess the information needs of the company

Cynthia Brin, the CEO of biotech company NeuroSyn, is trying to gather intelligence about the products and plans of its competitor, Nucleic Solutions. Which of the following research methods would be most likely to provide valuable information about the product plans of Nucleic Solutions?

collect information from people who supply and distribute products for Nucleic Solutions

Which of the following is not a step in the marketing research process?

comparing research findings to other studies

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 new market. Which of the following environments must be carefully analyzed by this wedding company?

cultural

Bertram's Beer structures its company in such a way as to encourage its most profitable older customers to remain loyal while also targeting a new generation of customers. What is Bertram's Beer attempting to build?

customer equity

Clive owns a small diver shop on the West Coast. He recently started a Facebook page for his store and many of his customers are asking for store-sponsored dive trips. They believe Clive's expertise would make him the perfect guide. Clive decides to host quarterly dive trips and experiences a huge increase in sales and customer satisfaction. Which of the following is the best conclusion that can be drawn from Clive's situation?

customer insights can provide valuable information to a small business

According to the principle of​ ________ marketing, the company should put most of its resources into customer​ value-building marketing investments. A.​sense-of-mission B.innovative C.customer value D.conscious consumption E.​consumer-oriented

customer value

What are the main tools of a CRM analyst?

data warehouses and data mining

Exaggerating package contents through subtle​ design, using misleading​ labeling, or describing size in misleading terms is known as​ ____________________. A.deceptive packaging B.deceptive promotion C.bait and switch D.excessive markups E.deceptive pricing

deceptive packaging

Practices such as misrepresenting the​ product's features or performance or luring customers to the store for a bargain that is out of stock are considered​ ____________________. A.excessive markups B.deceptive pricing C.baiting D.deceptive packaging E.deceptive promotion

deceptive promotion

Heeltoe, a boutique that caters to the footwear needs of​ women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of​ affluent, middle-aged​ women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on​ ________ variables. A. universal B. demographic C. psychographic D. geographic E. behavioral

demographic

Which of the following best describes a duty that would fall under the jurisdiction of the EPA?

ensuring that pollution standards are met by a company

Asher Airlines has instituted a loyalty rewards program that rewards customers with seat upgrades and free miles for their continued patronage. What customer relationship tool is Asher Airlines using?

frequency marketing program

Question marks, cash cows, dogs, and stars are four types of SBUs defined in which of the following?

growth-share matrix

What is management's first step when performing a portfolio analysis?

identify strategic business units

An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO most likely to do as a function of his job?

inform customers of the privacy policy of the company

The type of segmentation that forms segments of consumers who have similar needs and buying behaviors even though they are located in different countries is known as​ _________. A. geographic segmentation B. behavioral segmentation C. intermarket segmentation D. demographic segmentation E. lifestyle segmentation

intermarket segmentation

How does the new concept of marketing differ from the old concept of marketing?

it focuses on the experience of the customer.

Denim Blue Jean Corporation is a growing company located in Washington State, but it is beginning to develop a presence in the surrounding states as well. It sells only one product - blue jeans - but it has 12 different lines of jeans that cater to men, women, children, babies, toddlers, and teens. Which marketing organization would best suit Denim Blue Jean Corporation?

market and customer organization

When consumers respond in a similar way to a given set of marketing efforts, they can be referred to as which of the following?

market segment

Dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies is known as​ ______________________. A. differentiation B. market segmenting C. market targeting D. mass marketing E. positioning

market segmenting

What helps decision makers use information to generate and validate actionable customer and market insights?

marketing information system

The type of segment characteristic in which the​ size, purchasing​ power, and profiles of the segments can be quantified is known as​ _______________________ A. substantial B. accessible C. measurable D. actionable E. differentiable

measurable

Mi Rancho Supermarkets is a chain grocer that locates stores in neighborhoods with large Hispanic populations. Their stores carry a greater selection of Hispanic and Latin foods. The type of marketing that Mi Rancho uses is an example of​ ________. A. concentrated marketing B. differentiated marketing C. undifferentiated marketing D. micromarketing . E. target marketing

micromarketing

Vaughn's Video has suffered in the current economy because fewer people have the money for videos and because fewer people use the technology, given the advance of online streaming sites such as YouTube and Hulu. The videos Vaughn's Video does sell are often out priced by versions coming from China or Taiwan, or they are accused of being damaging to the environment. Which of the following marketing impacts has not affected Vaughn'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 casual research.

Firms that manufacture seasonal products target their consumers primarily through​ ________ segmentation. A. psychographic B. age and​ life-cycle C. occasion D. income E. demographic

occasion

Marketers of brands understand that they must figure out how to reach​ ___________________ that can exert social influence on others. A. cultural segments B. millennials C. social groups D. baby boomers E. opinion leaders

opinion leaders

The difference between a proactive and a reactive stance to the marketing environment can best be described as which of the following?

passive versus active responses

The major cultural values of a society are expressed by all of the following except?

people's view of medicine

A manufacturer of​ half-ton pickup trucks creates a positioning map for the U.S.​ half-ton pickup market. The position of each circle on the map indicates the​ brand's perceived positioning on two​ dimensions: price and orientation​ (economy versus​ performance). The size of each circle indicates the​ brand's relative market share. This is an example of a​ ________________. A. competitively positioned map B. psychographic map C. perceptual positioning map D. target segment map E. competitive map

perceptual positioning map

__________ products give high immediate satisfaction but might hurt consumers in the long run. A.Desirable B.Salutary C.Marketing D.Deficient E.Pleasing

pleasing

If competitors cannot easily copy the benefit a company chooses to​ promote, that benefit is said to be​ _________. A. profitable B. distinctive C. preemptive D. superior E. affordable

preemptive

Barry'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. Furthermore, the results were publicly displayed on the restaurant's Facebook page. What best describes Barry's Burgers?

proactive

Which marketing philosophy holds that consumers will favor products that offer the most in quality, performance, and innovative features?

product concept

Which of the following is not one of the four P's of the marketing mix?

production

Dividing buyers into groups based on social​ class, lifestyle, or personality characteristics is called​ ________ segmentation. A. psychographic B. geographic C. age and​ life-cycle D. behavioral E. user status

psychographic

The marketing manager at Only Organic Delicatessen targets customers who are focused on​ organic, healthy food choices but who still want to dine out. The restaurant chain offers a wide variety of​ organic, low-fat, locally raised produce and foods. Only​ Organic's approach is best referred to as​ ________ segmentation. A. benefit B. psychographic C. geographic D. age and​ life-cycle E. user status

psychographic

The ultimate goal of the marketing process is to do which of the following?

receive value from customers

The difference between the marketing concept and the sustainable marketing concept is that the marketing concept​ ___________________________. A.understands that companies need​ long-term planning B.teaches that there are major controllable factors of any marketing mix C.recognizes that companies thrive and grow by having​ long-term revenue goals D.recognizes that companies thrive by fulfilling the​ day-to-day needs of customers E.embraces the principles of customer relationship management

recognizes that companies thrive by fulfilling the​ day-to-day needs of customers

A purse​ company's ads feature the members of a popular housewives reality show. Product sales increase significantly among fans. From​ fans' viewpoint, the housewives reality show is a​ ______________. A. family group B. ​late-majority adopter C. membership group D. reference group E. lagging adopter

reference group

________ products have low immediate appeal but might benefit consumers in the long run long dash —for ​instance, bicycle helmets or some insurance products. A.Deficient B.Salutary C.Pleasing D.Desirable E.Marketing

salutary

Lester's Lights is looking to enter the Mexican market. Before jumping in, the company needs to conduct some in-depth research to gauge customers' needs, interests, and buying patters. Which of the following would be the best option for Lester's Lights?

send researchers door-to-door to collect data from target consumers

​_________________marketing means that the company should define its mission in broad social terms rather than narrow product terms. A.Customer value B.​Sense-of-mission C.Societal D.​Consumer-oriented E.Innovative

sense of mission

Sustainable marketing should be guided by five sustainable marketing principles. Of the​ following, which is NOT one of those​ principles? A.Customer value marketing B.Societal marketing C.Strategic marketing D.​Sense-of-mission marketing E.Innovative marketing

strategic marketing

A researcher must always evaluate secondary information carefully to make certain that it is all of the following except

subjective

Companies embracing environmental sustainability policies develop strategies to implement them. The strategies include which of the following two​ components? A.sustain the environment and produce profits for the company B.create recycling policies and ensure sustainability C.implement renewable energy policies and protect company profits D.ensure sustainability and establish sustainability policies E.sustain the environment and implement renewable energy policies

sustain the environment and produce profits for the company

Which of the following is a type of marketing that calls for meeting the present needs of consumers and businesses while preserving or enhancing the ability of future generations to meet their​ needs? A.Global marketing B.Sustainable marketing C.Societal marketing D.Strategic planning E.Cause marketing

sustainable marketing

Which of the following is often considered a key business marketing strategy for winning and holding​ accounts? A. straight rebuy B. modified rebuy C. new task . D. buying decision E. systems selling

systems selling

Chicago's Best Pizzeria has been operating on the south side of Chicago for over 50 years. Its target market includes young, urban professionals who want new-style, organic pizzas with exotic ingredients. However, indecent years, the population in the pizzeria's neighborhood has been shifting and fewer young, urban professionals live there. The population has grown older and wants traditional pizza, not pizza with exotic ingredients. Which of the following identifies the pizzeria's best response to the situation?

target a new market with a different product

When a company chooses a group of customers to serve, it is engaging in which of the following?

target marketing

Wonders, such as antibiotics, and horrors, such as chemical weapons, can be attributed to which marketing environment?

technological

The key to a company's success lies primarily in which of the following?

the ability of the company to coordinate efforts effectively within the company and with other members of its supply chain in order to deliver products to customers

Which of the following best describes the purpose of the customer insights team?

to gather and interpret information about customers and the market

The Federal Trade Commission in the United States enforces laws for what reason?

to protect companies from each other and prevent unfair competition

When marketers aggressively promote only one benefit to the target​ market, the benefit promoted is known as the product or​ service's _____________________. A. unique product proposition B. unique benefit proposition C. unique difference proposition D. unique selling proposition E. unique position proposition

unique selling proposition

Which of the following is the best way for a small business to conduct market research?

use online resources

________ refers to striving for good faith and fair dealing so as to contribute toward the efficacy of the exchange process as well as avoiding deception in product​ design, pricing,​ communication, and delivery or distribution. A.​"Never be​ deceptive" B.​"Foster trust in the marketing​ system" C.​"Do no​ harm" D.​"Embrace ethical​ values" E.​"Incorporate a sense of​ mission"

​"Foster trust in the marketing​ system"