Marketing exam 1
________ marketing is more suited for products that vary in design.
) Differentiated
The goal of ________ research is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product.
) descriptive
Which of the following is NOT a common variable used by both consumer and business marketers while segmenting markets?
) operating characteristics
Sheffield cargo Service both consumer and business markets, but most of its revenue comes from its business consumers. Of late, the business consumers have demanded a change in the packaging of heavy cargo along with a more sophisticated and user-friendly extranet framework. Sc this under pressure to offer better products and services or risk losing a huge portion of its customers. This is sonic sample off
- A modified rebuy situation
Rudolph technologies Inc. Decided to enter the auto Mobile Service markets. Consecutively, the company decided to procure the tools and machines needed from a reputable supplier. Rudolph technologies is facing.
- A new task situation
Sigma ink. A software firm based in California, recorded 50 printers from the designated provider without any modifications. This is an example off
- A straight rebuy
But the business markets are similar to consumer markets in that
- Both involve people who assume buying roles and make purchase decisions to satisfy needs
The collection of business and products that make up the companies is called it's
- Business portfolio
Which of the following is true about business purchases
- Business purchases involve more professional purchasing effort than consumer purchases
Business buyer behavior refers to the------
- Buying behavior of the organizations the buy goods and services for using the production of other products and services that are sold rented or supplied to others
To the five-step model of the marketing process which of the following is the final step in creating value for customers
- Capturing value for customers to create profit and customer equity
Which of the following companies have a market oriented business definition
- Cosmetic company, whose business definition is¨ we sell hope and self-esteem¨
Cyber tone Inc. What's accused of deceptive pricing. Which of the following explains what most likely occurred
- Cyber tone advertised a large price reduction from a phony high retail list price
When backed by buying power wants become
- Demands
Demand for outboard motors depends on consumers purchasing fishing boats. This is the next sample off-----demand
- Derived
Which of the following is not a step in this strategic planning process
- Evaluating members of the company's value chain
-----is the act of obtaining a desired object from someone by offering something in return
- Exchange
The business marketer normally deals with----than the consumer marketer does
- Far fewer both for larger buyers
When critics argue that insurance, real estate, and used cars are sold, not bought, they are accusing marketers off
- High-pressure selling
Which of the following is true of the BCG matrix approach
- It considers market growth rate to be A measure off the market attractiveness
Which of the following statements is true off the production concept
- It leads to companies focusing too narrowly on their own operations
A-----is the set of actual and potential buyers of a product or service
- Market
According to the Boston consulting group approach------provides a measure of market attractiveness
- Market growth rate
A------is some combination of product, services, information, or experience provided to consumers to satisfy a need or want
- Market offering
Sigo Terrace offers its customers good recommendations local delicious an amazing seaside views. The overall experience provided at the motor motel is a part of it
- Market offering
And organic farmer has identified three distinctive groups that might be interesting products: vegetarians, health cautious individuals, and people it identified as trendsetters who try out new products in the market before others. These three groups are examples off
- Market segments
Send some business marketers have fewer buyers than consumer marketers, Business buyers often face-----than do consumer buyers
- More complex buying decisions
-----are people within the reference group who because of special skills knowledge personality or other characteristics exert influence on others
- Opinion leaders
Trendy teens manufactures fashionable clothing and accessories for the tween and teen female markets. New merchandise with wearing a different lock is rolled out each section and heavily promoted has to must have style in the verity of media. This information indicates that trendy teens is most likely to be criticized for
- Perceived obsolesce
-----refers to unique psychological characteristics that distinguish an individual or group
- Personality
Consumer advocates, Government agencies, and the other critics have accuse marketing of harming consumers through
- Planned obsolescence
--------involves evaluating the mix of products and businesses that make up the company
- Portfolio analysis
Marketing stimuli include which of the following
- Price stimuli
Rain roads were ones operated based on the thinking that users want to trains that would offer the most in and quality performance and innovative features. The rain road managing companies overlooked the fact that there could be other modes of transportation. This reflects the---concept
- Product
Henry Ford's Philosophy was to perfect the model T so that it's cost could be reduced further for increased consumer affordability. This reflects the-----concept
- Production
Which of the following markets management orientations focuses primarily on improving efficiencies along the supply chain
- Production concept
----are low share Business units in high growth markets that require a lot of cash to hold their share
- Question marks
Mission statements should be defined in terms off
- Satisfying basic customer needs
Joalene firm markets preplanning services for mortician. She finds that most of her target market avoids discussing future funeral needs. She convinces people to invest in the firm services through her large-scale promotional efforts. Jolene firm most likely practices the
- Selling concept
Which of the following market orientations calls for an aggressive promotional efforts and focus on creating transactions rather than long-term customer relationships
- Selling concept
Tara pass is a company that offers consumers the opportunity to buy carbon offsets which are contributions to projects that combat global warming by reducing carbon emissions. Tara pass offers contribution packages for driving flying on home energy use. Though Tara pass, consumers can buy some of the-----costs off their private goods and services
- Social
----are society's relatively permanent and ordered divisions whose members share similar values interests and behaviors
- Social classes
Which of the following statements is true of culture factors that influence consumer behavior
- Social classes show distinct product and brand preference in areas such as clothing and travel
Which of the following statements is true regarding social classes in the United States
- Social classes show distinct product preference in clothing an auto Mobile
The overselling a private goods results in-----as they require more public service that may not be available
- Social cost
The-----concept especially focus on the future welfare off consumers
- Societal marketing
The key business of Kimberly and price consistent a division that produces and sells breakfast cereals and another that manufactures gardening tools. Each of these businesses is called
- Strategic business units
The owners of the manufacturing firm in Ohio have developed the core network of suppliers to ensure an uninterrupted supply of products. This is example off
- Supplier development
----resource to buying a package solution to a problem from a single seller, this avoiding all the separate decisions involving a complex buying situation
- System selling
Selecting which segments of the population to serve his call
- Target marketing
Buyer response are influenced by marketing stimuli. That responds to The stimuli include all of the following except
- The Why regarding the response
Which of the following is true with regard to strategic planning
- The focus of strategic planning is to define a game plan for long-run survival and growth
Which of the following best describes a strategic business units
- The key businesses that make up the company
Mission statements should-------and be defined in terms off-----
- The market oriented: satisfying basic customer needs
In business markets with in elastic demand
- The total demand for products is not much affected by short-term price changes
Which of the following refers to sets of benefits that accompany promises to deliver to customers to satisfy their needs
- Value proposition
----are human needs that are shaped by culture and individual personality
- Wants
The selling concept is typically practiced
- Went good the buyers normally do not think of buying
The marketing team of 7 Star Inc., a company manufacturing smartphones, is currently studying the size, density, and age of its target market. Which of the following environments is being studied in this scenario?
A) demographic environment
Companies that take a proactive stance toward the marketing environment are most likely to ________.
A) develop strategies to change the environment in their favor
A society's ________ are expressed in how people view themselves and others, organizations, society, nature, and the universe.
B) cultural values
Dan has been directed to study the forces close to a company that affect its ability to serve its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. In this instance, Dan has been directed to study the ________ of the company.
B) microenvironment
A competitor analysis requires the assessment of all of the following EXCEPT the competitors' ________.
B) organizational hierarchy
A(n) ________ consists of people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights.
C) marketing information system
-----are low growth high share business/products that needed less investment to hold their market share
Cash cows
________ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.
Competitive marketing intelligence
The economic environment consists of economic factors that affect ________.
D) consumer purchasing power
Kinger Burgers came out with a new hamburger and, before including it on its main menu, released it in two different cities with two different prices. The marketers at Kinger Burgers then analyzed the different levels of purchase made at these two different places, planning to use the information to help them set a nationwide price for the new offering. This is an example of ________.
D) experimental research
From a(n) ________ point of view, Pepsi might see its competition as Coca-Cola, Dr Pepper, 7UP, and the makers of other soft drink brands. From a(n) ________ point of view, however, the customer really wants "thirst quenching."
D) industry; market
While collecting sensitive customer data, market researchers should adhere to all of the following guidelines EXCEPT ________.
D) sharing information without the customer's authorization
Sustainable marketing includes all of the following except
Focusing on profits and return to shareholders and employees above all else
________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.
Market segmentation
________ is the process by which firms interact one-to-one with masses of customers to design products and services tailor-made to individual needs.
Mass customization
Gaining ________ requires delivering more value and satisfaction to target consumers than competitors do.
competitive advantage
qKodak's film business didn't lose out to direct competitor Fujifilm; it lost out to Sony, Canon, and other digital camera makers, along with a host of digital image developers and online image sharing services. This is an example of ________.
competitor myopia
Price & Malone Corp., a company based in Houston, caters to a market of individuals and households that buy goods and services for personal consumption. Price & Malone caters to a ________ market.
consumer
Which of the following is LEAST relevant when a firm evaluates different market segments?
core competencies of competitors
An analysis conducted to determine what benefits target customers value and how they rate the relative value of various competitors' offers is known as ________.
customer value analysis
Delta Motorworks markets its cars based on the age, gender, and income of its customers. Which of the following types of market segmentation is evident here?
demographic segmentation
Double Drill Inc. segments its foreign markets by per capita income. This firm segments the international markets based on ________.
economic factors
When Gary Hirshberg started the Stonyfield Farm yogurt company, he stated that his company could do better with less advertising, less marketing research, and more guerrilla marketing. He came up with innovative marketing ideas to promote his products such as having sales personnel dress up as large yogurt cartons to distribute free yogurt samples. Which of the following marketing strategies was being implemented by Hirshberg?
entrepreneurial marketing
Which of the following is NOT one of the major variables used in segmenting consumer markets?
ethical
A company sent a trained observer to watch and interact with consumers in their natural environments in order to gain deeper insights on consumer needs. This is an example of ________.
ethnographic research
Which of the following is a market leader strategy?
expanding market share
Marketers should understand that people's core beliefs and values tend to be ________.
fixed
The real value of marketing information lies in how it is used ________.
in the customer insights that it provides
Primary data consist of ________.
information collected for the specific purpose at hand
Kei, a senior marketing manager of a pizzeria in North Florida, is currently researching electronic collections of consumer information within the company network to arrive at crucial marketing decisions. In this instance, Kei is using ________.
internal databases
Which of the following is a competitive position or role that firms play in the target market?
market nicher
Malcolm Sanders, a graduate student from Boston, makes customized snowboards for local snowboarding enthusiasts. The demand for snowboards peaks during the winter months, a busy time for Malcolm. He advertises more aggressively and sells most of his snowboards around this time. Which market segmentation approach does Malcolm most likely use?
occasion segmentation
Dell produces and delivers PCs of competitive quality at lower costs. The company constantly aims to achieve low production and distribution costs to win a large market share. Dell utilizes a(n) ________ strategy very effectively.
overall cost leadership
The ________ environment consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society.
political
Katrina Mendoza is a senior manager in a manufacturing firm that hires lobbyists to influence legislation that affects the manufacturing industry. Katrina's firm takes a(n) ________ stance toward the marketing environment.
proactive
Which is NOT part of the company environment that influences marketing decisions?
retailers
In the audio equipment industry, Philips and Sony belong to the same ________.
strategic group
The objective of causal research is to ________.
test hypotheses about cause-and-effect relationships
Several structural factors affect long-run segment attractiveness. These include all of the following EXCEPT ________.
the segment does not match the company's long-run objectives
Shine Enterprises mass produces an all-purpose floor cleaner that is aimed at the whole market. This firm uses a(n) ________ marketing strategy.
undifferentiated
Companies can research many aspects of buying decisions. However, the one that is the most difficult to identify is
why they buy
