Marketing Exam #1
perceptions.
A consumer's understanding of how a product or brand performs on different attributes based on personal experience, advertising, and discussions with other people are referred to as
marketing plan.
A road map for the marketing activities of an organization for a specified future time period, such as one year or five years, is referred to as a
a subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers.
A strategic business unit (SBU) refers to
a weakness if the company does not have access to other expertise at Unilever.
Hellmann's is a brand owned by Unilever that produces mayonnaise, among other food products. If a marketing manager at Hellmann's identified that its brand managers lacked the expertise to create additional growth for the firm's products, she would likely incorporate this knowledge into its SWOT analysis as
employee capabilities.
In the context of SWOT�internal strengths (S), weaknesses (W), external opportunities (O), and threats (T)�analysis, marketers can identify strengths and weaknesses by focusing on:
A superior production technology
In the context of SWOT�internal strengths (S), weaknesses (W), external opportunities (O), and threats (T)�analysis, which of the following can be considered as a strength of an organization?
Both have a high market share in their respective markets.
In the context of the Boston Consulting Group's (BCG's) portfolio matrix, which of the following is a similarity between stars and cash cows?
the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Marketing refers to
promotion strategy.
Medtronic, a company that makes heart pacemakers, introduced a new product at medical conventions across Asia to demonstrate its many beneficial features. The convention presentations are an example of its
determines choices that are socially beneficial to the most number of people to be ethically correct
Unlike the Moral Idealism theory, the utilitarian ethical theory:
Age
Which of the following can be considered as a demographic information of a person?�
It cannot convince people to buy goods that are neither wanted nor needed.
Which of the following is a drawback of the sales-orientation and product-oriented philosophy?
Xpress�an MP3 player that has a high market share in a market that is not expected to grow significantly
Which of the following products would the electronics company CypressSound classify as a cash cow in its BCG matrix?
It is the cooperative efforts of a for-profit firm and a nonprofit organization for mutual benefit
Which of the following statements is true of cause-related marketing?
It focuses on delivering value to customers.
Which of the following statements is true of marketing?
None of the others
While conducting a SWOT analysis for Apple you think it would be a good idea to use the company instagram account to target younger consumers by engaging in conversations with them. The statement "use instagram to engage younger consumers" would be a
demand
Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a ________.
Self-Esteem
According to Maslow's Hierarchy of Needs if I buy a Rolex watch to show off to my friends and family that I am superior I am most likely fulfilling which need?
market development
Acme Inc., a manufacturer of construction and mining equipment, is based in Australia. Acme modifies the production processes of its widgets and gadgets to sell its current products in Eastern Europe. This is most likely an example of a ________ strategy.
market segmentation.
Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as
developing brand names that have no preexisting meaning in any known language.
Brands can be extremely valuable domestically, but challenging internationally. Companies can help overcome language difficulties in using brands by
government actions that reduce competition from international firms.
Changes in tariffs and quotas are
postpurchase behavior
Claire has just told her best friend, "I'm so glad I bought the Samsung Galaxy S9 rather than those other smartphones I was considering. Look at this incredible display, and the battery stays charged forever." Which stage of the consumer purchase decision process does Claire's conversation identify?
the actions a person takes in purchasing and using products and services to receive value, including all the mental and social processes that occur before and after.
Consumer behavior refers to
every aspect of consumers' purchase decisions.
Culture affects
mission statement
Delat Corp. is a large corporation that offers several product lines. On the company's Web site, the following content is highlighted: "The aim of our business is to achieve profitability by offering our customers high-quality products that are manufactured in a cost-effective manner. Our goals are to provide value to our customers, serve the community, and preserve the environment." This content is most likely to be Delat Corp.'s _____.?
habitual decision making
Dina manages a three-story apartment building near campus. When a tenant recently moved out, she changed the locks and had another set of keys made at Home Depot, as she does every time a tenant moves. This is an example of
penetration
EcoBean, a chain of cafes, has introduced a Special Shopper Card that allows its customers to pay in advance for coffee and snacks. This effort by EcoBean management is most likely an example of ________.
cross-cultural analysis
For the marketer, a thorough ________ involves an understanding of and an appreciation for the values, customs, symbols, and language of other societies.
the market value of goods and services produced in a country in a year.
GDP is defined as
hedonic value
George Cooper Jr., brother of Sheldon Cooper had a brilliant idea of making a million dollars which he pitched to his father in the presence of Missy Cooper. After failing to find any customer using his approach of selling the Texas snow globe he decided to change his tactics and begain to talk with cusotmers about their memories when it snowed in texas and how they and their families reacted. Many customers became nostalgic and decided to buy the product. What do you think the customers were actually buying?
product
George Cooper Jr., brother of Sheldon Cooper had a brilliant idea of making a million dollars which he pitched to his father in the presence of Missy Cooper. His idea was to buy snowglobes from a store that was going out of business for a cheap price and then sell it at a higher price. In this example the idea that was pitched by Sheldon Cooper is a
differences in languages, customs, and culture might make the campaign meaningless and ineffective in some markets.
Graham had developed an extremely successful advertising and promotion campaign for a client in the United States. The client wanted to roll out the same campaign to markets worldwide, but Graham cautioned against doing this, most likely because
legal
Hydralicious, a juice outlet, had to stop its business as health inspectors found that the storage facilities at the outlet did not meet the standards set by the government. In this scenario, a(n) _____ factor affected Hydralicious's business
hedonic value
If I buy a corvett because it makes me feel good about myself, I am buying it mainly for the ________ value it provides me.
moral idealism
If a nazi officer were at your door and you told the truth that you were indeed hiding people in your closet because you have a rule about never lying, you would be following
selective retention.
If you read the chapters from your marketing textbook the night before this test and still could not remember several of the definitions for marketing terms, you may be experiencing
economic infrastructure.
In Latvia, only one six-lane highway exists, connecting Riga, its capital, with Moscow. Otherwise, the roads are two lanes and many are made of cobblestones or bricks. This limits the speed with which deliveries can be made and requires that delivery trucks be quite small. The road network in Latvia is an example of problems with a country's
the trade of things of value between buyer and seller so that each is better off after the trade.
In marketing, the idea of exchange refers to
marketing plan.
In recent years, many subscribers to newspapers and magazines have cancelled their print subscriptions in favor of online news. These trends have caused the StarTribune newspaper to offer online content for $1.99 per week and Newsweek to suspend its print edition in favor of an online only weekly edition. These companies had to change their ________, an action triggered by the technological and social changes in their marketing environments.
the firm's level of customization in marketing efforts as strategy for individual global markets.
In terms of the global marketplace, there are three primary types of companies: international firms, multinational firms, and transnational firms. The key factor that distinguishes one from another is
competitors.
Lands' End is primarily known as a catalog clothing retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's
a multidomestic
Lever Europe, a division of Unilever, markets Snuggle fabric softener. But in 10 European countries, it uses seven brand names, including Kuschelweich in German, Coccolino in Italy, and Mimosin in France. These products also have different packages, different advertising programs, and occasionally different formulas. From this information, we can assume that Lever Europe uses ________ marketing strategy.
postpurchase cognitive dissonance.
Many teenagers, both male and female, have clothes they purchased in the past that they "would not be caught dead in" today. When they occasionally see those clothes hanging in the back of their closet, these teenagers probably feel
an external search.
Nico wants to buy a new digital camera for his semester studying abroad but he knows very little about cameras, having never owned one. As a result, he has begun asking for advice from friends and relatives. In addition, he has talked to salespeople at a Wolf camera shop and Best Buy and he has looked at some websites. Nico is engaging in
sociocultural
People for the Ethical Treatment of Animals (PETA) have held protests against the sale of coats made of animal furs. PETA's efforts to change shoppers' attitudes represent a ____ force for fur retailers.
a market.
People with both the desire and ability to buy a specific offering are referred to as
selective comprehension
Prexa was offended by the brand name of a new product for women. She believed the name of the product was demeaning and that it reflected a negative attitude of the manufacturer toward women in general. Although this may simply be the result of __________, if other women interpreted the name choice the same way, it is likely this product would fail.
baby boomers
Prudential, a financial planning firm, offers retirement plans and wealth management advice. These products are most likely targeted toward which generational cohort?
production orientation
Researchers at Fresnas Inc. invented a new form of glass that filters harmful rays of sunlight and blocks heat. Without researching the market conditions, Fresnas Inc. went ahead and manufactured windshields with the new glass. It hopes that customers will like its new product. In this scenario, Fresnas Inc. has adopted a _____.
Green marketing
Ronald Systems Inc. has developed a line of appliances that run on solar energy and cause no harm to the environment. Which of the following concepts is illustrated in this scenario?
internal information search
Stefanie is shopping for groceries at her local supermarket. As she picks up laundry detergent, she sees the display of bathroom cleaners and remembers that she is about to run out of it at home. Stefanie tries to remember the specific brand that she used last time, because she thought that was the best in terms of performance and value. In terms of the consumer buying decision process, Stefanie�s trying to remember what brand she last used is an example of _____.
political
Texas rice farmers wish to get their product into the Japanese market, but are hindered by a complex maze of regulations imposed by the Japanese government. The farmers are most likely to attempt to influence the _____aspect of the marketing environment.
explaining the stability and control aspects of the StreetCarver in its advertising messages.
The BMW StreetCarver is a $495 skateboard that features BMW's technology in its wheel suspension, which stabilizes the board's sleek design and allows for greater control around sharp curves. BMW wants its skateboard to be within the consideration set of potential skateboard buyers. In this case, it will most likely focus on
socio/cultural values.
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:
Ads featuring Hispanic actors and Tejano music
The Coca Cola Company has recognized the significant increase in population diversity within the U.S. soft-drink market. Which one of the following best illustrates the company's integration of this knowledge into its marketing strategy?
employee analysis.
The components of global market assessment include all of the following except
a motivation.
The energizing drive that stimulates behavior to satisfy a need is referred to as
problem recognition, information search, evaluation of alternatives, purchase, and post purchase evaluation.
The five major stages of the consumer buying decision process, in order, are
pure competition.
The form of competition in which there are many sellers and they each have a very similar product is referred to as
consideration set.
The group of brands a consumer would consider acceptable from among all the brands in the product class of which he or she is aware is referred to as the
Leyton Electronics Inc. satisfies its customers' wants and needs legally and responsibly.
The management of Leyton Electronics Inc. always favors market orientation over the other marketing management philosophies. In this case, which of the following is most likely to be true of Leyton Electronics Inc.?
protectionism.
The practice of shielding one or more sectors of a country's economy from foreign competition through the use of tariffs or quotas is referred to as
the price charged for the product.
The primary value that a marketer expects to receive from a customer in an exchange relationship is:
a quota
The world's largest manufacturer of peppermint candy canes was located in Albany, Georgia, until it could no longer afford to buy the sugar needed for its operation. It moved its manufacturing business to Mexico where there are no restrictions (like those that exist in the United States) on the amount of sugar that can be brought into the nation. The business moved to Mexico because of ________ established by the U.S. government.
social influence
Three teenage girls spent an hour at a store trying on various outfits, looking at possible combinations, and asking each other, "How do you think this looks on me?" This situation is most closely related to which of the following influences?
as many metrics as it can obtain.
To determine the market potential for its particular product or service, a firm should use
All of the others
What is the factors that a company needs to focus on to be a socially responsible company?
problem recognition
When Julia goes for the first class of her Principles of Marketing course, she finds out that in addition to the textbook she already purchased, she also needs a copy of the book The Mary Kay Way. Julia is in the _____ stage of the consumer buying decision process.
exporting.
When entering a foreign market, the least risky strategy is
technological
While playing soccer Bryan suddenly fell and broke his arm. On his way to the hospital, he sees a billboard for The Cleveland Clinic promoting its time-text service where he can call the number GET-TXT-TIME, and they will text him the approximate waiting time at the closest three hospital locations. Thus, the Cleveland Clinic is providing enhanced service to its patients by capitalizing on the _____ environmental force.
