MARKETING FINAL

Dina loves branded apparel and accessories but cannot afford to buy them too often. Fortunately, Dina lives close to an off-price retail store that is owned and operated by a famous brand. The company utilizes this store to sell its surplus, discontinued, or irregular goods at significantly lower costs. The retail store is best referred to as a ________. A) category killer B) factory outlet C) specialty store D) superstore E) power center

B) factory outlet

A company can assess marketing ROI in terms of standard marketing performance measures, such as brand awareness, sales, or market share True or False

True

Big data refers to the huge data sets generated by sophisticated information generation, collection, storage, and analysis technologies True or False

True

CRM analysts use big data and marketing analytics to unearth patterns in customer data. True or False

True

Cosmetice firm L'Oreal treats their supplier as partners to help them create and deliver customer value True or false

True

Neuromarketing is used in combination with other research approaches to gain a more complete picture of what goes on inside consumers' heads True or False

True

Product, price, place, and promotion make up the elements of a firm's marketing mix True or False

True

The final step in the marketing process is capturing customer value in the form of profits and customer equity True or False

True

Which generational group is characterized as the most educated and the least materialistic? a. Generation X b. baby boomer c. lost generation d. generation Z e. Millennial

a. Generation X

Which of the following transforms marketing strategies into real values for consumers? a. The four Ps of marketing b. customer equity c. customer satisfaction surveys d. share of customer e. a firm's value proposition

a. The four Ps of marketing

In SWOT analysis, which of the following would most likely be considered a strength of a company? a. an improvement in the company's production technology b. a favorable economic climate that encourages consumption c. and increase in consumer interest in the company's products d. the exit of a competitor from the market e. higher prices of the company's products resulting from inflation

a. an improvement in the company's production technology

Lovely Skin is establishing a pricing strategy for a new moisturizer. The total cost to produce each unit is $3.50. The company has decided to add a $1.50 markup, so the unit price to distributors will be $5. Lovely Skin is using a ________ approach to price the new moisturizer. a. cost-plus b. value-added c. break-even d. good-value e. competitor-based

a. cost-plus

Selling or phasing out a product and using the resources elsewhere can be described as _____ a. divesting b. harvesting c. diversification d. market saturation e. market segmentation

a. divesting

In most marketing research projects, what type of research is conducted first? a. exploratory b. casual c. corrective d. remedial e. descriptive

a. exploratory

Marcos started his food truck business 10 years ago with one older model truck he built from the ground up. Through hard work, good food, and a positive attitude his business thrived. His food was not the cheapest around but it was the best. Marcos's company, Meals on Wheels, now ran eight food trucks in the metropolitan area and Marcos still wanted to expand. His plans include expansion into several other major cities but he wants to change his mission statement from the one he came up with years ago when he was starting out. The old mission statement, Fast food to your door, simply did not fit his vision for his company as a mobile restaurant serving great food of all types to clients with limited time for lunch. Which of these mission statements that Marcos is considering is more marketing oriented? a. food mater, that's why we bring the best to you b. mobile eats to save time c. good food at a cheap price d. good food at a reasonable price e. food fast and hot

a. food mater, that's why we bring the best to you

Technology is a way of life for ________, the largest generational group. a. generation z b. baby boomers c. generation x d. millennials e. lost generation

a. generation z

Producers of convenience products and common raw materials typically seek ________ distribution — a strategy in which they stock their products in as many outlets as possible a. intensive b. comprehensive c. selective d. exponential e. exclusive

a. intensive

A strategy for company growth that involves increasing sales to current market segments without changing the product is known as ______ a. market penetration b. diversification c. market differentiation d. product development e. market development

a. market penetration

A _______ is purposeful, specifying what an organization wants to accomplish in the larger environment a. mission statement b. market portfolio c. marketing strategy d. strategic plan e. marketing objective

a. mission statement

Under ________, the market consists of many buyers and sellers trading over a range of prices rather than a single market price. a. monopolistic competition b. a pure monopoly c. a pure monopsony d. pure competition e. oligopolistic competition

a. monopolistic competition

Victoria's Closet, a manufacturer of bohemian-style clothing and accessories, sells its products through its online Web site, a catalogue, and specialty boutiques that target women. Which kind of channel arrangement does Victoria's Closet employ to distribute its products? a. multichannel distribution system b. horizontal marketing system c. administered VMS d. corporate vertical marketing system e. contractual VMS

a. multichannel distribution system

Which of the following sets the price floor lower limit for a product's pricing? a. product costs b. consumer perceptions of value c. elements of the product mix d. competition e. profits

a. product costs

One simple method used by Jeff Bezos to identify customer concerns is to a. read customer emails b. periodically call Amazon customers c. analyze big data from the website d. visit various retail stores e. send out digital surveys.

a. read customer emails

According to the BCG matrix, products or businesses with a high market share in a high-growth market are classified as ________. a. stars b. cash cows c. dogs d. heroes e. question mark

a. stars

What is the customer lifetime value of a person who buys $1235 in product every year and is expected to be a loyal customer for at least 20 years a. $33400 b. $24700 c. $5500 d. $112000 e. $1010340

b. $24700

Vertigo is an electronics company. According to the BCG matrix, which of the following products of Vertigo would most likely classify as a question mark? a. Kindle Fire- a children's iPad that has a high market share in a market that is not expected to grow significantly b. Blue- a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily c. SpinDrive- a car audio system that has a high market that has been growing constantly d. SoLo- a CD player that has a very low market share in a market that is shrinking rapidly e. Electra- a home entertainment system that has a strong market share in a market that is likely to expand in the future

b. Blue- a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily

Which of the following is a difference between the marketing concept and the selling concept? a. The marketing concept focuses on customer conquest, whereas the selling concept focuses on targeting the right customers. b. The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products. c. The marketing concept focuses on short-term sales, whereas the selling concept strives to build long-term customer relationships. d. The marketing concept is product-centered, whereas the selling concept is production-centered. e. The marketing concept takes an inside-out perspective, whereas the selling concept takes an outside-in perspective.

b. The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products.

Which of the following best describes positioning? a. evaluating each market segment's attractiveness and selecting one or more segments to enter b. arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products c. identifying consumer needs and creating a product to meet those needs d. differentiating a market offering to create superior customer value e. dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors.

b. arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products

The marketing concept states that successful firms must do more than simply adapt to the needs of their target consumers. They must also gain strategic advantage by _______ a. selling the products or services cheaper than any other firm b. becoming the largest firm supplying a particular market c. having rapid deliver to the consumer's home d. positioning their offerings strongly against the offerings of their competitors e. sell goods on credit and offer large discounts for cash payments

b. becoming the largest firm supplying a particular market

Which of the following is true of focus group discussions? a. they usually employ large amples b. consumers are not always honest and open about their opinions c. consumers'' facial expressions are hidden d. results can be easily generalized to an entire population e. the quantitative data can be evaluated quickly and economically

b. consumers are not always honest and open about their opinions

More than 80 percent of McDonald's restaurants worldwide are owned and operated by franchisees. This illustrates a(n) ________ marketing system. a. horizontal b. contractual VMS c. administered VMS d. corporate vertical e. direct

b. contractual VMS

Producers use marketing intermediaries because they ________. a. supply inexpensive raw materials for manufacturing products b. create greater efficiency in making goods available to target markets c. monitor day-to-day activities during production d. provide technical expertise for faster production e. form a part of the company's direct channel

b. create greater efficiency in making goods available to target markets

When demand hardly changes with a small change in the price of a product, the demand for the product is best described as ________. a. flexible b. inelastic c. cyclical d. elastic e. variable

b. inelastic

Which of the following is true of a vertical marketing system? a. it is formed when a single firm sets up two or more marketing channels to reach one or more customer segments b. it has one channel member owning all the other channel members or has contracts with all other channel members c. it is formed when two or more companies at one level join together to follow a new marketing opportunity d. It has each channel member acting as a separate business unit trying to maximize its own profits e. it does not give overall power to any one member in the channel

b. it has one channel member owning all the other channel members or has contracts with all other channel members

The final step of a marketing information system includes _______ a. assessing information needs b. making marketing decisions c. collecting data d. developing information e. developing marketing intelligence

b. making marketing decisions

_____ is the sum of all the values that customers exchange for the benefits of having or using a product or service. a. salary b. price c. cost d. profit e. payroll

b. price

Which of the following demonstrates the real value of a company's marketing research and information system? a. the type of sampling plan it follows b. the customer insights it provides c. the variety of a contact methods it uses d. the amount of data it generates e. the tools it uses to gather information

b. the customer insights it provides

______ outline(s) sources of existing data as well as specific research approaches, sampling plans, and measurement instruments a. The problem definition b. the research plan c. the data collection plan d. the research findings e. the main research objective

b. the research plan

______ are the form human needs take as they are shaped by culture and individual personality. a. services b. wants c. benefits d. risks e. necessities

b. wants

Which of these examples highlights a firm using a distribution system to gain a competitive advantage? a. Toyota managing a complex value delivery network for the Camry b. Unilever making and selling Dove Beauty Bar soap c. Enterprise Rent-A-Car setting up off-airport rental offices d. Walmart asking suppliers for volume discounts e. A small mom and pop store selling high-end clothing

c. Enterprise Rent-A-Car setting up off-airport rental offices

The ultimate aim of customer relationship management is to ___ a. divide markets into distinct segments b. turn "strangers" into "butterflies" c. Produce high customer equity d. evaluate customer lifetime value e. evaluate current sales share.

c. Produce high customer equity

Which of these questions is answered by a firms value proposition a. how will I inform my target audience about my products b. what products should I deliver? c. Why should I buy your brand rather than a competitor? d. Should I use more digital marketing tools or traditional tools? e. Which markets do I serve?

c. Why should I buy your brand rather than a competitor?

A practice called_____ allows marketers to use online date to target ads and offers to specific customers a. online listening b. social media tracking c. behavioral targeting d. online targeting e. data analytics

c. behavioral targeting

Kelstone Developers is planning to build a new shopping mall that would require the partial acquisition of a nearby public park. Walking Green, an environmental group, challenges the plan citing environmental destruction. In response to the demands of Walking Green, Kelstone Developers promises to build a huge park-like walkway around the mall. Walking Green is an example of a(n) ________ in this scenario. a. media public b. internal public c. citizen-action public d. financial public e. government public

c. citizen-action public

Customer-driven marketing is most effective when _____ a. a clear need exists among customers, but the need is difficult to identify b. customers have wants but cannot afford them c. clear needs exist and customers know what they want d. customers seek new products and technological innovations e. customers do not know what they want but are easily persuaded

c. clear needs exist and customers know what they want

Marketing, more than any other business function, deals with a.advertising b.brands c.customers d.sales e.new products

c. customers

Leading "big-box" stores, such as Walmart and Target, now dominate the retail scene. However, even "small-box" stores like Dollar General, are thriving in the current economic environment. All three retailers are considered ________. a. designer shops b. convenience stores c. discount stores d. specialty stores e. full-service retailers

c. discount stores

A market researcher wants to find the cause-and-effect relationship between using organic ingredients in foods and the subsequent consumption by customers. He invites ten respondents to his research firm and asks them to taste two identical dishes. The dishes were prepared in a similar manner, but one natural herbs for flavoring, and the other has artificial flavors. This is an example of ___________ a. ethnographic research b. exploratory research c. experimental research d. descriptive research e. online research

c. experimental research

Companies should try to conduct marketing intelligence investigations of themselves so they can _________ a. hone their skills to conduct marketing intelligence investigations of their competitors b. use the technique and determine whether it has any value c. find potentially damaging information leaks and protect their own information d. adjust their metrics in order to get better information e. learn the capabilities of their internal systems

c. find potentially damaging information leaks and protect their own information

Which of the following statements about break-even analysis is most likely true? a.it is a tool marketers use to examine the relationship between supply and demand b. it is a tool used to calculate fixed costs c. it fails to consider customer value and the relationship between price and demand d. it determines how customer-perceived value changes with value-added pricing e. it is used to determine the maximum price that can be set on a product

c. it fails to consider customer value and the relationship between price and demand

Which of the following is true of survey research? a. it is most suitable method for establishing causal relationships b. it is not suitable for collecting data for descriptive research c. it is the most widely used method for gathering primary data d. it is inflexible and cannot be used in many different situations e. it is the best method to use when people are unwilling to answer questions

c. it is the most widely used method for gathering primary data

demographic, economic, natural, technological, political, cultural forces form the ____ of an organization a. marketing intermediary network b. microenvironment c. macroenvironment d. supply chain e. internal environment

c. macroenvironment

_______ refers to the process of evaluating each market segment's attractiveness and selecting one or more segments to enter. a. market divesting b. market mixing c. market targeting d. market diversification e. market positioning

c. market targeting

In the SWOT analysis, which of the following would be considered a weakness of a company? a. the exit of a competitor from the market b. falling consumer interest in its products c. obsolete technologies used by the company d. inflation that leads to higher prices of the company's products e. an unfavorable economic climate that discourages consumption

c. obsolete technologies used by the company

________ creates a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping a. consolidation marketing b. test marketing c. omni-channel marketing d. online marketing e. shopper marketing

c. omni-channel marketing

Which of the following is an example of consumer-generated marketing? a. Energix, a manufacturer of soft drinks, attracts customers through televised advertisements b. Cristal, a jewelry store, uses its page on Facebook to provide information about is upcoming products to its customers c. Barton's, a local pet supply store, rewards frequent buyers with vouchers and exclusive offers. d. Fun & run, a local amusement park, promotes its services by allowing consumers to upload videos and write reviews about the park. e. Figa, a leading provider of athletic shoes, helps its customers customize their shoes on its website and choose personalized settings.

d. Fun & run, a local amusement park, promotes its services by allowing consumers to upload videos and write reviews about the park.

Which of these questions must be answered to develop a winning marketing strategy. a. What products should we focus on selling? b. Which online platform should we use to market our products? c. How do we deliver products to customers? d. What is our value proposition? e. How many marketing representatives will we need to hire?

d. What is our value proposition?

technology by which machines think and learn in a way that looks and feels human is known as ___________ a. EEG b. marketing analytics c. CRM d. artificial intelligence e. neuromarketing

d. artificial intelligence

Firms should begin thinking about product pricing _____ a. when mass production begins b. after the test market is finished c. when the distribution channels are fixed d. at the very beginning of the design process e. when the design process is completed

d. at the very beginning of the design process

Which of the following is true of logistics? a. Shaving off a small fraction of logistics costs has very little impact on savings b. less than 5 percent of an average product's price is accounted for by shipping and transport c. the cost of logistics is considerably less than advertising d. companies can gain a powerful competitive advantage by using improved logistics to enhance customer service or lower prices e. the cost savings to a company and its customers due to improved logistics is typically nominal

d. companies can gain a powerful competitive advantage by using improved logistics to enhance customer service or lower prices

Amazon Founder Jeff Bezos vaulted to the position of wealthiest person in the world in a relatively short period of time by building his small online book selling platform into an online retail giant that was listed as the most valuable brand in the world in 2021. One of the things Bezos does is to frequently read customer emails. When something catches his eye he forwards the email to the appropriate person to take care of the issue. Jeff Bezos views Amazon's role as that of "creating genuine value for customers." Bezos is motivated by the fact that Amazon customers will be loyal until another firm offers better products and/or service. Amazon has also been extremely innovative in the order and delivery process which makes the shopping experience a breeze for consumers. In the past three years Amazon's revenues have more than doubles to $386 billion dollars and the firm accounts for 45% of all online sales Much of Amazon's success can be attributed to a. selling only the highest quality products b. a vast product selection c. rapid delivery d. creating value for customers e. identifying customer needs

d. creating value for customers

Mary Kay Cosmetics and Amway sell their products through home and office sales parties, online Web sites, and social media. Both companies use a(n) ________ channel to distribute their offerings. a. indirect b. layered c. functional d. direct e. behavioral

d. direct

Recyclable or biodegradable packaging, recycled materials and components, and better pollution controls are ways that marketers have responded to the ________. a. pollution reduction movement b. increased need to comply with environmental regulations c. new recycling laws d. environmental sustainability movement e. new government intervention program

d. environmental sustainability movement

JJ's Trucking Firm transports goods for M&M Clothing. JJ's Trucking firm is an example of which of these intermediaries? a. financial intermediary b. marketing services agency c. supplier intermediary d. physical distribution firm e. reseller markets

d. physical distribution firm

_____ is the only element in the marketing mix that produces revenue. a. product b. promotion c. profit d. price e. place

d. price

The most common research instrument, whether administered in person, by phone, by e-mail, or online is the ____ a. telephone interview b. personal interview c. focus group d. questionnaire e. mechanical device

d. questionnaire

________ are distribution channel firms that help a company find customers or make sales to them. a. Producers b. suppliers c. credit companies d. resellers e. logistic firms

d. resellers

Marketing department actions can increase purchasing costs, disrupt production schedules, increase inventories, and create budget headaches. Thus, other departments may ______ the marketing department's efforts a. develop b. support c. favor d. resist e. encourage

d. resist

________ refers to the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use. a. sole sourcing b. warehousing c. procurement d. retailing e. manufacturing

d. retailing

Savvy marketing managers know a. the best strategy is to serve as many customers as possible b. that market segmentation involves positioning the product for maximum exposure c. hiring more sales reps always leads to higher sales volume d. that it is impossible to serve all potential customers in every way e. it is better to have more products available for sale.

d. that it is impossible to serve all potential customers in every way

Which of the following best describes a company's business portfolio? a. the company's strengths in terms of technology, people, and products b. the list of all marketing activities in which the company invests c. the target segments of the company's various businesses d. the collection of businesses and products that make up the company e. the company's products or services in a particular market

d. the collection of businesses and products that make up the company

Which of the following is an advantage of primary data? a. they can be accessed from existing information b. they are more reflective of past problems c. they can be obtained more quickly than secondary data d. they are more relevant than secondary data e. they are less expensive to obtain than secondary data

d. they are more relevant than secondary data

How do firms that use captive-product pricing make up for the low prices of their main products? a. they provide the captive products as freebies b. they offer the captive products and main products together at a reasonable price c. they reduce the cost of the captive products d. they set high markups on the captive products e. they increase the price of the main products

d. they set high markups on the captive products

The responsibility for setting a company's mission, objectives, broad strategies, and policies primarily lies with its ________ a. marketing managers b. research departments c. human resources managers d. top management e. finance department

d. top management

A _____ is made up of a company, its suppliers, distributors, and, ultimately, customers who "partner" with each other to improve the performance of the entire system. a. marketing intermediary b. manufacturing chain c. disintermediation system d. value delivery network e. distribution center

d. value delivery network

A _______ is made up of a company, its supplier, its distributors, and its customers who partner with each other to improve the performance of the entire system a. a shareholder network b. value chain c. business portfolio d. value delivery network e. growth-share matrix

d. value delivery network

As a result of the Great Recession of 2008-2009 and the 2020-2021 COVID-19 pandemic marketers have increased their focus on _____ a. price elastic product sales b. organizational pricing strategies c. higher priced products in the marketing mix d. value-for-the-money pricing strategies e. goods sold in oligopolistic markets

d. value-for-the-money pricing strategies

Which of the following generational groups accounts for 21 percent of the U.S. population but controls 53 percent of all consumer spending? a. Lost generation b. Generation X c. Millennial d. Generation Z e. Baby boomer

e. Baby boomer

_____ only makes sense if the product's quality and image support a higher price and enough buyers want the product at that price. a. Optional-product pricing b. By-product pricing c. Market-penetration pricing d. allowance pricing e. Market-skimming pricing

e. Market-skimming pricing

_____ refers to working closely with people inside and outside the company to jointly bring more value to customers a. Demand management b. customer-generated marketing c. Channel value proposition d. Integrated communication e. Partner relationship management

e. Partner relationship management

_________ is a set of interdependent organizations that help make a product or service of a company available for use by consumers or business users. a. a research and development channel b. a backward integration chain c. an upstream channel d. a raw materials supplier e. a marketing channel

e. a marketing channel

The initial function of a marketing information system is ______ a. evaluating information from internal and external sources b. generating insights from market consumption patterns c. hiring research firms to conduct market research d. analyzing the results of marketing research studies e. assessing the information needs of a company

e. assessing the information needs of a company

Hammond Corp. operates in the highly aggressive electronics market. The firm aims to obtain early warnings of opportunities and threats caused by the actions of other firms that are doing well in the industry. Which of the following sources would best serve Hammond's purpose? a. sales data from exclusive Hammond retailers b. research on demographics of its existing customers c. archival data on company performance d. internal survey on employee performance e. competitive marketing intelligence

e. competitive marketing intelligence

Which of the following sets the price ceiling for a product's pricing? a. elements of the product mix b. competition c. profits d. product costs e. consumer perceptions value

e. consumer perceptions value

Which of the following is most likely true about people's beliefs and values? a. Secondary beliefs and values cannot be changed b. marketers have a high chance of changing core beliefs and values c. belief in marriage is a secondary belief for most americans. d. secondary beliefs are passed on from parents to children e. core beliefs and values have a high degree of persistence.

e. core beliefs and values have a high degree of persistence.

One example of ____ occurred when online music downloading almost eliminated traditional music-store retailers a. substitution b. direct-to-consumer branding c. channel delivery change d. delivery mode change e. disintermediation

e. disintermediation

The process that turns marketing plans into marketing actions to accomplish strategic marketing objective is called marketing _____ a. design b. control c. planning d. analysis e. implementation

e. implementation

Jim's Hardware relies on its ________, which is a series of internal departments that carry out value-creating activities to design, produce, market deliver, and support a firm's products a. internal supply chain b. distributor chain c. portfolio network d. supplier networks e. internal value chain

e. internal value chain

Which of the following is true of strategic planning in a firm? a. It occurs at the business-unit, product, and market levels of rather than at the corporate level b. it involves preparing short-term investment objectives at the product level c. it focuses on the firm's internal environment rather than the external environment d. it deals with maintaining the company's current business ventures. e. it deals with adapting the firm to take advantage of changing marketing opportunities

e. it deals with adapting the firm to take advantage of changing marketing opportunities

A firm's decision to identify and develop new markets for existing products is a _________ strategy a. product development b. diversification c. market differentiation d. market penetration e. market development

e. market development

Dividing a market into several sections of customers is known as ________. a. value engineering b. undifferentiated marketing c. market positioning d. mass customization e. market segmentation

e. market segmentation

Which of the following statements regarding marketing intelligence is true? a. Marketing intelligence typically involves sensitive and confidential information kept out of the public domain. b. marketing intelligence efforts are more focused on gaining insights into a firm's consumers rather than its competitors. c. the advantage of using competitive intelligence is negligible as it is based on internal sources of data d. all marketing intelligence inputs are available at no cost to any potential users e. marketing intelligence is the systematic collection, monitoring and analysis of publicly available information.

e. marketing intelligence is the systematic collection, monitoring and analysis of publicly available information.

The Sherman Act, Clayton Act, and the Robinson-Patman Act are all federal laws that were initially adopted to curb the formation of ________. a. international markets b. competitive markets c. limited partnerships d. oligopolies e. monopolies

e. monopolies

When Nabisco offers to cover half the cost of all local advertising for supermarkets that sell Oreo Cookies, the company is granting ________. a. quantity discounts b. cash discounts c. trade-in allowances d. seasonal discounts e. promotional allowances

e. promotional allowances

Information collected from commercial online databases or through internet search engines are examples of _____ data a. primary b. ethnographic c. first-hand d. experimental e. secondary

e. secondary

Which of the following is a difference between storage warehouses and distribution centers? a. storage warehouses are used to store agricultural products, while distribution centers are used to store non agricultural products b. storage warehouses are exclusively used by government agencies, while distribution centers are exclusively used by private businesses. c. storage warehouses are always owned by a producer, while distribution centers are rented. d. storage warehouses are most likely to use newer, computer-controlled systems, while distribution centers generally use outdated materials-handling methods. e. storage warehouses store goods for moderate to long periods, while distribution centers are used to move goods rather than just store them.

e. storage warehouses store goods for moderate to long periods, while distribution centers are used to move goods rather than just store them.

American Honda purchases over $20 billion worth of auto parts and materials every year. ________ are an important link in the company's success. a. Media firms b. Physical distribution firms c. Wholesalers d. retailers e. suppliers

e. suppliers

Amazon Prime strives to convert casual shoppers into loyal customers. An Amazon Prime customer can be classified as a ________. a. laggard b. stranger c. butterfly d. barnacle e. true believer

e. true believer

According to the five-step model if the marketing process, the first step in marketing is a. engaging customers, building profitable relationships, and creating customer delight b. capturing value from customers to create profits and customer equity c. designing a customer-driven marketing strategy d. constructing an integrated marketing strategy e. understanding the marketplace and customer needs and wants

e. understanding the marketplace and customer needs and wants

Which of the following is most likely a true statement about diversity in the United states? a. Asian Americans constitute the largest ethnic group in the United States b. Ethnic and cultural differences exist since different ethnic groups remain isolated from one another c. the nation's ethnic populations are expected to decrease in coming decades d. most ethnic groups are shedding their ethnic culture and shifting toward a unified American culture e. various ethnic groups mix together but also refrain their cultural differences.

e. various ethnic groups mix together but also refrain their cultural differences.