Marketing Exam 1
Which of the following statements about global brands is most accurate? A.) A global brand is marketed under different brand names for every market. B.) A global brand alters the product or service formulation for each country. C.) A global brand has marketing programs that are coordinated in each individual country where the service is sold to ensure a consistent customer experience. D.) A global brand is a collaborative effort among several different multinational firms to ensure that semiotic mistakes do not occur. E.) A global brand uses the same product formulation or service concept across multiple countries and cultures
E.) A global brand uses the same product formulation or service concept across multiple countries and cultures
For-profit organizations pursue several different types of goals such as profit, sales, market share,quality, customer satisfaction, employee welfare, and social responsibility. Which of these statements is most accurate? A.) Customer satisfaction goals are known to increase costs and reduce profits. B.) Selecting a market share goal is only meaningful if you first make profit a goal. C.) A business firm should select only one business goal so it can maintain focus. D.) Social responsibility and employee welfare goals are reserved for nonprofit organizations. E.) If profits are acceptable, a company may elect to maintain or increase its sales even though profits may not be maximized
E.) If profits are acceptable, a company may elect to maintain or increase its sales even though profits may not be maximized
Which two of the following demographic segmentation variables would firms use to segment organizational markets? A.) usage rate and type of outlet B.) global region and statistical area C.) statistical area and annual sales D.) lifestyle and statistical area E.) NAICS code and number of employees
E.) NAICS code and number of employees
__________ often triggers a business model change, as it has for American newspapers and book retailers. A.) Rising employee wages B.) Economic uncertainty C.) Growth in the retail sector D.) Government regulation E.) Technology innovation
E.) Technology innovation
Which of the following statements about marketing activities is most accurate? A.) Marketing is essentially developing the right product and convincing potential customers that they "need" it, not just "want" it. B.) Marketing is affected by society but rarely, if ever, affects society as a whole. C.) Marketing activities are the sole responsibility of the marketing department; other departments are involved only if there is an emergency (such as a product recall). D.) Environmental forces do not affect marketing activities as long as a firm closely monitors its environment through rigorous market research. E.) The marketing department both shapes and is shaped by its relationship with internal and external groups.
E.) The marketing department both shapes and is shaped by its relationship with internal and external groups.
The relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action is referred to as A.) a customer base B.) an ultimate consumer. C.) a target market. D.) a preferred customer E.) a market segment.
E.) a market segment.
When its beer sales were flat, Budweiser became interested in entering the premixed cocktail segment by providing a product that would appeal to those who don't enjoy traditional beer. It launched Bud Light Lime-A-Rita, a margarita-flavored, beer-based cocktail, sold in cans and bottles and best served over ice. This is an example of A.) market penetration. B.) market development. C.) product innovation. D.) product penetration. E.) diversification
E.) diversification
All of the following are independent variables a market researcher may use in a marketing experiment except which? A.) price B.) package size C.) distribution outlet D.) use of coupons E.) dollar sales
E.) dollar sales
Which of the following statements is most accurate about build-to-order (BTO) manufacturing? A.) BTO is similar to mass customization except that BTO allows for fewer options. B.) BTO manufacturing leads to an increase in work-in-process inventories. C.) BTO manufacturing increases delivery times to customers because factories are usually not located near most customers. D.) BTO manufacturing, such as the process Apple uses, allows firms to offer manufacturer products well ahead of orders for them. E.) BTO manufacturing allows marketers to use a two-tier Tiffany/Walmart strategy.
A.) BTO is similar to mass customization except that BTO allows for fewer options.
Relationship marketing refers to A.) The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits. B.) the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace C.) the selection and the assignment of a firm's personnel for a specific product or product line to a group of current or prospective customers. D.) exclusive legally binding contractual agreements between retailers and customers in order to create enhanced value for each party E.) the belief that it is easier and less expensive to find new customers than to retain old ones
A.) The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits.
__________ assumes that the underlying relationships in the past will continue into the future; the method is simple but not always correct. A.) Trend extrapolation B.) Sensitivity analysis C.) Lost-horse forecasting D.) Statistical inference E.) A survey of buyers' intentions
A.) Trend extrapolation
When companies price their products very high in some countries but competitively in others, they face which problem? A.) a gray market B.) dumping C.) bribery D.) economic espionage E.) protectionism
A.) a gray market
All of the following are examples of products or services that satisfy a consumer need except which? A.) a sales tax B.) a student dormitory C.) a jacket D.) an apple E.) a pair of jeans
A.) a sales tax
The Foreign Corrupt Practices Act of 1977 made what practice illegal? A.) bribing an official of a foreign government to obtain business in that country B.) selling goods or services to the countries of Cuba or North Korea C.) using contacts in foreign countries to perform corporate espionage on competitors D.) selling products through unauthorized channels in foreign countries E.) selling products at prices other than the manufacturer's suggested retail price in foreign countries
A.) bribing an official of a foreign government to obtain business in that country
To alleviate mothers' concerns about ingredients in its mayonnaise, Hellmann's successfully communicated the product's high Omega 3 content, which is known to be essential to human health. This is an example of using which attitude change strategy? A.) changing beliefs about the extent to which a brand has certain attributes B.) encouraging the consumer to use stimulus generalization C.) adding new attributes to the product D.) encouraging the consumer to use stimulus discrimination E.) changing the importance of attributes
A.) changing beliefs about the extent to which a brand has certain attributes
A country club is distributing questionnaires to members in order to develop ideas about how to improve their facilities and services. The club is A.) collecting primary data. B.) collecting internal secondary data. C.) collecting external secondary data. D.) performing a sensitivity analysis. E.) using neuromarketing.
A.) collecting primary data
Marketing research is the process of __________, systematically collecting and analyzing information, and recommending actions. A.) defining a marketing problem and opportunity B.) creating a new budget and financial plan C.) tracking the actions of competitors D.) assembling a task force to identify applicable trends E.) adopting a global market perspective
A.) defining a marketing problem and opportunity
Cause marketing refers to A.) efforts to tie the charitable contributions of a firm directly to the customer revenues produced through the promotion of one of its products. B.) the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth. C.) marketing services provided at little or no cost for the purpose of promoting or supporting a worthy cause. D.) marketing efforts to produce, promote, and reclaim environmentally sensitive products. E.) situations in which marketing actions that took place actually caused more harm than good
A.) efforts to tie the charitable contributions of a firm directly to the customer revenues produced through the promotion of one of its products.
To avoid new-product failure, new-product expert Robert M. McMath suggests A.) focusing on customer benefits and learning from the past. B.) building a hierarchical organizational structure so that more people have a chance to spot product problems. C.) releasing several different versions of a new product at the same time to see which one is most successful. D.) increasing the marketing budget, since "success comes to those who can outspend the competition." E.) implementing a regional rather than a nationwide rollout of a new product.
A.) focusing on customer benefits and learning from the past.
Which of the following is a variable that could be used for demographic segmentation of consumer markets? A.) gender B.) city size C.) NAICS code D.) personality E.) usage rate
A.) gender
Marketing efforts to produce, promote, and reclaim environmentally sensitive products are referred to as A.) green marketing. B.) recycle marketing. C.) cause marketing. D.) environmental marketing. E.) recycling.
A.) green marketing.
Which of the following is a psychological influence on the consumer behavior decision process? A.) learning B.) purchase task C.) social class D.) antecedent states E.) promotion
A.) learning
Procter & Gamble markets its popular multipurpose cleaner as Mr. Clean in North America and Asia but uses several different brand names like Maestro Limpio and Mr. Proper in other parts of the world. These differences arise because P&G is a(n) __________ firm. A.) multinational B.) global C.) international D.) transglobal E.) dynamic
A.) multinational
For which of the following items would extended problem solving most likely be used? A.) orthodontia B.) a movie ticket C.) workout pants D.) a bus ride E.) tennis balls
A.) orthodontia
Devin wasn't going anywhere for spring break; she just wanted to sit around and binge watch something on Netflix. She went next door to ask a friend who shared her taste in television and got a recommendation for Master of None. Devin's information search was shortened by a discussion with her neighbor, which is a __________. A.) personal source B.) marketer-dominated source C.) family source D.) consumer-controlled source E.) public source
A.) personal source
People who live active outdoor lives are part of the target market for REI, a retail outdoor outfitter. This suggests that REI would most likely segment the market based on which consumer segmentation basis? A.) psychographic B.) behavioral C.) demographic D.) socioeconomic E.) geographic
A.) psychographic
Two special methods vital to marketing researchers are __________ and __________. A.) sampling; statistical inference B.) actuarial models; data extrapolation C.) statistical inference; experiments D.) hypotheses; conjectures E.) virtual visualization; interactive data exchange
A.) sampling; statistical inference
Though the percentages are not always the same, a general rule in business says that the large majority of a firm's revenues come from what percent of its customers? A.) 5% B.) 20% C.) 35% D.) 50% E.) 80%
B.) 20%
Walmart has been opening Walmart Neighborhood Market stores that are one-fifth the size of its supercenters and intended to compete with stores like Dollar General. One risk to this effort is __________. A.) aggregation B.) cannibalization C.) segmentation D.) differentiation E.) positioning
B.) cannibalization
There are five steps involved in segmenting and targeting a market. What should a marketer do once he or she has grouped both potential buyers and products to be sold? A.) execute marketing program actions B.) develop a market-product grid and estimate size of markets C.) identify market needs D.) take marketing actions to reach the target market E.) group prospective buyers into market segments
B.) develop a market-product grid and estimate size of markets
A local political party made phone calls to assess likely voter turnout. The only question asked in the telephone interview was if the respondent planned to vote in the fall elections, to which one could answer either yes or no. This question would be considered A.) open-ended. B.) dichotomous. C.) a Likert scale. D.) single response. E.) a semantic differential scale
B.) dichotomous.
A business firm uses market segmentation to respond more effectively to the wants of groups of potential buyers in order to A.) maintain market share. B.) increase sales and profits. C.) be more socially responsible. D.) use fewer of the firm's resources. E.) provide the best quality products on the market
B.) increase sales and profits.
Once a company has decided to enter the global marketplace, it must select a means of market entry. As the firm moves from exporting to direct investment, the amount of financial commitment, risk, marketing control, and profit potential A.) becomes more stable. B.) increases. C.) levels off. D.) decreases. E.) becomes more unpredictable
B.) increases.
When a marketing researcher uses a collection of reports, customer letters, financial statements, and surveys from different departments within her firm, she is using A.) primary data. B.) internal secondary data. C.)business data. D.) external secondary data. E.)sensitivity analysis
B.) internal secondary data.
The market leader for a(n) __________ product must make special efforts to avoid stockout situations so that buyers don't substitute a competing brand. A.) situational B.) low-involvement C.) complex D.) expensive E.) sociocultural
B.) low-involvement
The market-product focus and goal setting part of the planning phase of the strategic marketing process includes which of the following? A.) developing a mission statement B.) market segmentation C.) testing the product D.) testing the market E.) evaluating the marketing program
B.) market segmentation
Writing ads and setting prices for new product lines are examples of which of the following? A.) marketing plans B.) marketing tactics C.) business plans D.) marketing strategy E.) objectives
B.) marketing tactics
American Red Cross's __________ is to be dedicated "to prevent and alleviate human suffering in theface of emergencies by mobilizing the power of volunteers and the generosity of donors." A.) core value B.) mission C.) organizational culture D.) competency E.) competitive advantage
B.) mission
Kitchen World has put its offerings in store locations based upon the cooking activity—the way consumers prepare and present various meals. Everything for baking is in one spot, while food preparation utensils are in another, and table settings are in yet another. This strategy uses A.) product clusters. B.) product groupings. C.) segment groupings. D.) lifestyle merchandising. E.) psychographic merchandising.
B.) product groupings.
A television ad for Volkswagen features several nervous teens examining the damage immediately following a car accident, and the message, "Your parents can only kill you if you're OK." Marketers at Volkswagen are attempting to appeal to consumers' __________ needs according to the Maslow hierarchy. A.) physiological B.) safety C.) social D.) personal E.) self-actualization
B.) safety
In BCG's business portfolio analysis, __________ may need extra cash to finance their own rapid future growth, but when their growth slows they are likely to become cash cows. A.)dogs B.) stars C.) hedgehogs D.) lions E.) exclamation points
B.) stars
Using the same brand name for different products is an application of which concept from behavioral learning theory? A.) selective comprehension B.) stimulus generalization C.) selective retention D.) stimulus discrimination E.) affective formation
B.) stimulus generalization
Evaluating the decision and the process used for marketing research occurs in which stage of the process? A.) execute the marketing program B.) take marketing actions C.) examine the alternatives D.) evaluate data collection methods E.) present the findings
B.) take marketing actions
As a situational influence, antecedent states include A.) the purpose of the purchase. B.) the amount of cash on hand. C.) other people present. D.) the time of day. E.) the crowding in retail stores.
B.) the amount of cash on hand.
Which of the following conditions are necessary for marketing to occur? A.) a changing environment, a method of assessing needs, a way to communicate, and an exchange location B.) two or more parties with unsatisfied needs, a desire and an ability to satisfy them, a way to communicate, and something to exchange C.) a quality product, a fair price, a clever method of promotion, and a place where a customer can buy the product D.) parties with cash or credit, a product, a reasonable price, and a place to make an exchange E.) an ability to see a trend within an environmental force, a product, and an affordable and actionable advertising campaign
B.) two or more parties with unsatisfied needs, a desire and an ability to satisfy them, a way to communicate, and something to exchange
The trade of things of value between buyer and seller so that each is better off after the trade is referred to as A.)barter. B.)exchange. C.)marketing. D.)counter trade E.)financial remuneration.
B.)exchange.
__________ has resulted in more consistency in regulations, allowing Black & Decker, the maker of electrical hand tools, appliances, and other consumer products, to produce just 8 (instead of 20) motor sizes for the European market, resulting in production and marketing cost savings. A.) NAFTA B.) The WTO C.) The EU D.) NATO E.) The UN
C.) The EU
Self-regulation refers to A.) governmental guidelines that suggest what is legal and ethical and what is not. B.) a self-imposed set of rules set by a specific industry watchdog group that dictates legal and ethical behaviors. C.) an alternative to government control where an industry attempts to police itself. D.) voluntary compliance to governmental rules and regulations set for a specific industry. E.) a set of rules created and enforced by the FTC to which all members of an industry voluntarilyagree to comply
C.) an alternative to government control where an industry attempts to police itself.
The Consumer Bill of Rights refers to a statement that A.) codified the ethics of exchange between manufacturers, distributors, and suppliers, including the right to be paid. B.) codified the ethics of exchange between manufacturers, distributors, and suppliers, including the rights to safe working conditions, fair pay, and collaborative decision making. C.) codified the ethics of exchange between buyers and sellers, including the rights to safety, to be informed, to choose, and to be heard. D.) guaranteed consumers the right to be compensated through replacement, repair, or reimbursement for products that fail to perform as promised by the manufacturer. E.) guaranteed consumers the rights that are enumerated in the First Amendment to the U.S.Constitution
C.) codified the ethics of exchange between buyers and sellers, including the rights to safety, to be informed, to choose, and to be heard
Mexican officials claimed that U.S. apple growers were __________ when they appeared to be selling red and golden delicious apples in Mexico for less than the cost of producing them. This resulted in Mexico adding a tariff to these products. A.) parallel importing B.) back-channel marketing C.) dumping D.) countertrading E.) microfinancing
C.) dumping
An important part of creating a market-product grid is to A.) develop marketing actions for each market segment. B.) identify company strengths and weaknesses. C.) estimate the size of the markets. d.) compare, in two dimensions, a firm's position relative to its competitors. E.) plot the market growth rate and relative market share of a firm's offering.
C.) estimate the size of the markets.
Representatives from Kraft spent several months with consumers in their kitchens, attempting to understand what they wanted in ready-to-serve meals prior to the launch of Kraft Deli Creations. The observational approach Kraft used is called __________ research. A.) secondary B.) neuromarketing C.) ethnographic D.) experiential E.) questionnaire
C.) ethnographic
In eight small group sessions with customers, 3M heard complaints that standard steel wool pads scratched their expensive cookware. The findings from this research lead to the development of 3M's internationally successful Scotch-Brite Never Scratch soap pads. The research method 3M used was A.) surveys of knowledgeable opinion. B.) panels. C.) focus groups. D.) experiments. E.) in-depth interview
C.) focus groups.
The value to consumers that comes from the production or alteration of a product or service constitutes __________ utility. A.) place B.) market C.) form D.) possession E.) time
C.) form
In 2017, a marketing manager for New Balance's Minimus golf shoe needs to forecast sales through 2019. She begins with the known totals for 2016 and adjusts for positive factors like acceptance of new high-tech designs and great publicity, and for negative factors like the stagnant economy and predicted moves by the competition. This type of forecast is referred to as A.) trend extrapolation. B.) direct forecasting. C.) lost-horse forecasting. D.) linear trend forecasting. E.) a survey of buyers' intentions
C.) lost-horse forecasting
An important __________ for Medtronic's Champion pacemaker is its long, nine-year life, which cannot be matched by competitors. A.) market analysis B.) market segmentation C.) point of difference D.) distinctive competency E.) organizational opportunity
C.) point of difference
Gerber sells baby food with vegetables and rabbit meat in Poland, and with freeze-dried sardines and rice in Japan. These are examples of what type of global product strategy? A.) product extension B.) product customization C.) product adaptation D.) product invention E.) product integration
C.) product adaptation
Dollar Shave Club asks men to "Shave Money, Shave Time" in its commercials; it offers high-quality blades available by mail for a few dollars a month. Dollar Shave Club's advertising promotes the timeand money-saving aspects of its product as an example of A.) product positioning. B.) mass customization. C.) product differentiation. D.) segments of one and mass customization. E.) repositioning.
C.) product differentiation.
Tariffs serve primarily to A.) encourage foreign trade. B.) equalize production capacity. C.) raise prices on imports. D.) limit the quantity of goods leaving the domestic market. E.) provide consumers with the most competitively priced goods.
C.) raise prices on imports.
If Carter is happy with how his new Lifeproof phone case protected the phone when he spilled some water on it, this would be considered which variable of the behavioral learning process? A.) drive B.) cue C.) reinforcement D.) discrimination E.) response
C.) reinforcement
Potential buyers within a market segment should be A.) similar to those from different segments. B.) familiar with the product but not yet brand loyal customers. C.) similar in terms of the product features sought. D.) cannibalized from competitors' customers. E.) able to provide significant product synergies.
C.) similar in terms of the product features sought.
A company is interested in producing a dinosaur game for mobile phones and tablets. It selects a representative sample of boys and girls ages 4 to 8 who currently have access to a mobile device and like dinosaurs. After interviewing the children and collecting other relevant data, the firm then makes generalizations about what all young children want in their apps. The method used is A.) sensitivity analysis. B.) new product concept assessment. C.) statistical inference. D.) extrapolation. E.) secondary data collection.
C.) statistical inference.
Brick-and-mortar retailers are noticing a change in how many consumers shop. Sometimes they visit a store and scan an item on their smartphones, only to find the same product at a less expensive online retailer like Amazon.com. This turns the store into nothing more than a showroom for products. A SWOT analysis of Best Buy's marketing environment should consider this change in consumer shopping behavior a(n) __________. A.) strength B.) weakness C.) threat D.) opportunity E.) risk
C.) threat
Germans have not been overly receptive to the use of credit cards such as Visa or MasterCard and installment debt to purchase products and services because of a difference in ________ from American consumers. A.) moral idealism B.) codes of ethics C.) values D.) segmentation preferences E.) cognitive attitudes
C.) values
Which of the following is an example of a single product with multiple market segments? A.) Reebok makes tennis shoes, running shoes, walking shoes, and Weeboks. B.) Reach Toothbrush is available in a soft, medium, and hard bristle for adults and kids. C.) Kellogg's and Post both make bran cereals with raisins to reach health-conscious consumers. D.) Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women. E.) Quaker Oats oatmeal sells both its hot cereals and cold cereals to people of all ages.
D.) Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.
__________ makes it possible for Ford to invest $60 million in a Mexico City manufacturing plant to produce smaller cars and light trucks for global sales. A.) The General Agreement on Tariffs and Trade Treaty B.) The World Trade Organization C.) The Trilateral Economic Cooperation Accord D.) The North American Free Trade Agreement E.) The CanAmerMex Union
D.) The North American Free Trade Agreement
__________ decides on trade disputes between members across the world and issues binding decisions. A.) The IMF B.) The NAFTA C.) The FCPA D.) The WTO E.) The EU
D.) The WTO
A want refers to A.) a feeling of being deprived of something, but not fully understanding what it may be. B.) a feeling of deprivation of basic necessities such as food, clothing, and shelter. C.) a sense of personal inadequacy based upon observations by others around you. D.) a need that is shaped by a person's knowledge, culture, or personality. E.) a powerful desire that causes a person to take action.
D.) a need that is shaped by a person's knowledge, culture, or personality.
Asking the firm's salespeople to estimate sales during a coming period is referred to as A.) trend extrapolation. B.) in-house forecasting. C.) a lost-horse forecast. D.) a salesforce survey forecast. E.) a survey of buyers' intentions.
D.) a salesforce survey forecast.
In a marketing decision, __________ are likely to be restrictions on the time and money available to solve the problem. A.) dependent variables B.) limitations C.) risks D.) constraints E.) objectives
D.) constraints
The set of values, ideas, and attitudes that are learned and shared among the members of a group is referred to as A.) customs. B.) morals. C.) norms. D.) culture. E. )ethics
D.) culture.
Supermarkets may use __________ on information collected at checkout to determine that beer and diapers are often purchased together, and they may act on this information to place those items near one another in stores. A.) action analysis B.) an environmental scan C.) situational analysis D.) data mining E.) problem definition
D.) data mining
Kia Motor's 10-year, 100,000 mile warranty is most effective at A.) speeding up cognitive learning. B.) increasing cognitive dissonance. C.) increasing experiential learning. D.) decreasing perceived risk. E.) increasing stimulus generalization.
D.) decreasing perceived risk.
One argument for protectionism is that it A.) strengthens the economy by encouraging a balance of trade. B.) instills a sense of nationalism, which in turn protects economic stability. C.) lowers prices for domestic consumers. D.) discourages dependency on other countries. E.) creates a more loyal and hardworking domestic workforce.
D.) discourages dependency on other countries
Comparing the results of the marketing program with the goals in the written plans to identify and act on deviations occurs during the A.) implementation phase. B.) planning phase. C.) analysis phase. D.) evaluation phase. E.) goal-setting phase
D.) evaluation phase.
Selective __________ is defined as paying attention to messages that are consistent with one's attitudes and beliefs and ignoring messages that are inconsistent. A. ) perception B.) retention C.) acuity D.) exposure E.) comprehension
D.) exposure
A consumer will use one of three general problem-solving variations—extended, limited, or routine— based on product knowledge and A.) advertising awareness. B.) competitors' actions. C.) demand for the offering. D.) level of involvement. E.) communication style.
D.) level of involvement
A French cooperative called Sodima allows General Mills to sell Yoplait in the United States in return for a fee, a global market entry strategy known as what? A.) direct exporting B.) direct investment C.) joint venture D.) licensing E.) indirect exporting
D.) licensing
The outdoor brand The North Face intends to capture some of its competitors' business in Europe in the next few years, even amid the stagnant economic conditions there. The firm cites the active lifestyles there and the relatively low cost of entry for its backpacking and hiking sports gear, which attracts those planning a low-budget "stay cation." The North Face most likely has a __________ goal. A.) profit responsibility B.) unit sales C.) sales revenue D.) market share E.) social responsibility
D.) market share
The __________ phase of the strategic marketing process usually results in a(n) __________ that sets the direction for the marketing activities of an organization. A.) implementation; target market B.) planning; competitor analysis C.) evaluation; financial statement D.) planning; marketing plan E.) evaluation; annual report
D.) planning; marketing plan
The four Ps of the marketing mix are A.) predict, produce, package, and persuade. B.) priorities, personnel, placement, and profits. C.) predict, produce, price, and promotion. D.) product, price, promotion, and place. E.) product, price, production, and place.
D.) product, price, promotion, and place.
The VALS system is a(n) __________ measure of consumers. A.) family life cycle B.) involvement level C.) brand loyalty D.) psychographic E.) attitude
D.) psychographic
An advantage of using a panel for marketing research is A.) the discussion leader can help change negative panel responses into positive ones. B.) panel members often help each other by bringing up ideas for discussion that others didn't initially think of, but that were important to them. C.) there will usually be one panel member who dominates the discussion to help keep the conversation focused. D.) researchers can take successive measurements of consumers to determine if they change their purchasing behaviors over time. E.) the panel's continuity and representativeness of the population are unchanged when individual members drop out.
D.) researchers can take successive measurements of consumers to determine if they change their purchasing behaviors over time.
The economy is defined as A.) the independent financial factors that are not affected by changes in government spending. B.) the purchase of the highest quality product for the lowest possible price. C.) the production, distribution, and consumption of products, services, and ideas by households. D.) the income, expenditures, and resources that affect the cost of running a business and household. E.) the forces within a manufacturer's control that affect the demand and supply its offerings
D.) the income, expenditures, and resources that affect the cost of running a business and household.
Back translation is A.) incorporating a hidden meaning behind the written term in order to capitalize on ethnic diversity. B.) the practice of translating words from one foreign alphabet to another or when necessary, creating new internationally recognized symbols. C.) recording the spoken word into a foreign transliteration for universal understanding. D.) the practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors. E.) the practice of hiring a professional interpreter to attend all major business meetings to prevent misunderstandings
D.) the practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors.
Social responsibility is A.) the view that organizations should satisfy the needs of consumers in a way that provides forsociety's well-being. B.)the idea that an organization should strive to satisfy the needs of consumers while also tryingto achieve the organization's goals. C.)the fundamental, passionate, and enduring principles of an organization that guide its conductover time. D.)the idea that individuals and organizations are accountable to a larger society. E.)the recognition of the need for organizations to improve the state of people, the planet, andprofit simultaneously if they are to achieve sustainable, long-term growth.
D.)the idea that individuals and organizations are accountable to a larger society.
For the purchase of a smartphone, a third-party testing organization anticipates that many consumers use price, display, web browsing, and battery life as __________, because it tests products on these dimensions. A.) value attributes B.) the consideration set C.) a cognitive cluster D.) selective features E.) evaluative criteria
E.) evaluative criteria
Market segmentation involves aggregating prospective buyers into groups that __________ and will respond similarly to a marketing action. A.) have access to and desire for the products B.) possess the same attitudes C.) are open to marketing research D.) match well with the firm's proposed product differentiation strategies E.) have common needs
E.) have common needs
The purpose of environmental scanning is to A.) uncover causes of trends in the marketplace. B.) uncover trends in the workplace. C.) stop unhelpful trends in the marketplace, and speed helpful ones. D.) stop unhelpful trends in the workplace, and speed helpful ones. E.) identify and interpret trends in the marketplace
E.) identify and interpret trends in the marketplace
The marketing program includes developing the marketing mix and A.) core competencies. B.) organizational culture. C.) evaluation criteria. D.) alternate target market. E.) its budget
E.) its budget
A target market refers to A.) former customers who now use competitors' products. B.) people who could purchase a product regardless of who ultimately uses it. C.) the cluster of benefits that an organization develops to satisfy consumers' needs. D.) People with both the desire and the ability to buy a specific offering. E.) one or more specific groups of potential consumers toward which an organization directs its marketing program.
E.) one or more specific groups of potential consumers toward which an organization directs its marketing program.
Russia allows the United States to ship up to 60,000 tons of frozen beef into the country annually under its import A.) WTO tax. B.) gray market. C.) tariff. D.) fair trade exception. E.) quota
E.) quota
You are asked to complete a short survey after attending a free comedy show on campus. If the first question asked you to give an overall impression of the comedian, and had a five-point scale ranging from "hilarious" on one end to "not funny" on the other end, it would be what type of marketing research question? A.) open-ended B.) scale C.) dichotomous D.) single response E.) semantic differential scale
E.) semantic differential scale
In marketing research, the research objectives are the __________ goals of the decision maker. A.) causal and actionable B.) virtual and interactive C.) actionable and inferential D.) interdisciplinary and precise E.) specific and measurable
E.) specific and measurable
The final step in the five-step marketing research approach is to A.) evaluate the relevant data. B.) investigate the marketing environment. C.) develop the research plan. D.) develop the findings. E.) take marketing actions
E.) take marketing actions
Demographics refer to A.) the depiction of a population according to its core values or cultural beliefs and their rate of change. B.) an objective measurement of a person's likelihood to purchase a product or service. C.) the psychological profile of prospective consumers. D.) the density of a population in a geographic area. E.) the description of a population according to selected characteristics such as age, gender,ethnicity, income, and occupation.
E.) the description of a population according to selected characteristics such as age, gender,ethnicity, income, and occupation.
Consumerism refers to A.) a movement of conspicuous consumption that began when World War II ended. b.) conducting business in a way that protects the natural environment while making economic progress. C.) a collaborative effort between buyers and sellers to create an exchange where each benefit. D.) the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth. E.) the grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions
E.) the grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions
The marketing concept refers to A.) the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace. B.) the belief that an organization should continuously collect information about customers' needs, share this information across departments, and use it to create customer value. C.) the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large. D.) the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being. E.) the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals.
E.) the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals.
Technology is defined as A.) any device or process based on scientific discoveries that are less than one year old. B.) any mechanical device used in the production or distribution of a product. C.) scientific findings that are used now or are able to generate a profit. D.) ideas or concepts that will one day be translated into usable devices, mechanisms, or processes. E.) the inventions or innovations from applied science or engineering research
E.) the inventions or innovations from applied science or engineering research
Customer relationship management refers to A.) the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being. B.) the cluster of benefits that an organization promises customers to satisfy their needs. C.) the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals. D.) the links an organization has to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit. E.) the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so buyers will choose them in the marketplace
E.) the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so buyers will choose them in the marketplace
