Marketing Final

Good marketing is NOT a random activity, it required thoughtful planning with an emphasis on customers and stakeholders. What are the core aspects of marketing? Check ALL that apply. A.Marketing helps create value B.Marketing occurs in many settings C.Marketing can be performed by both individuals and organizations D.Marketing is about creating or capitalizing on problems to generate a profit through the solution E.Marketing requires product, price, place and promotional decisions. F.Marketing entails an exchange. G.Marketing is about satisfying customer needs and wants.

A, B, C, E, F, G

Which of the following is NOT one of the guidelines for developing a market research questionnaire? A. The layout should be professional and easy to follow. B. Questions should only address one issue at a time. C. Questions should be sequenced appropriately. D. Questions should use vocabulary respondents are familiar with. E. Sensitive questions should be asked first.

E. Sensitive questions should be asked first.

If a manufacturer wasn't happy with either intensive or exclusive distribution, a logical choice, which incorporates some features from both, would be __________ distribution. A. moderate B. compromise C. luxury D. evolutionary E. selective

E. selective

To know something is the same as being informed or informing yourself about something? Hint: Think back to Dale Atkins video related to our discussion on professionalism. True False

False

Which of the following is an unstructured question? A. "What are the most important characteristics for choosing a brand of shampoo?" B. "How satisfied were you with your last shampoo purchase: very unsatisfied, unsatisfied, neutral, satisfied, or very satisfied?" C. "Were you happy with the quality of the shampoo you purchased (Yes/No)?" D. "On a scale from 1 to 5 (with 1 being very unimportant and 5 being very important), how important is fragrance when choosing a shampoo?" E. "How many brands of shampoo have you purchased in the past year: 0, 1, 2, 3, 4, 5, or more than 5?"

A. "What are the most important characteristics for choosing a brand of shampoo?"

Category specialists are also known as category killers. A. True B. False

A. True

Auction sites like eBay have increased opportunities for __________ marketing. A. B2B B. C2C C. D2C D. C2D E. B2G

B. C2C

A product label is just a required sticker on a package. A. True B. False

B. False

Burger King no longer uses SpongeBob SquarePants to promote burgers and fries because the character is no longer popular with young children. A. True B. False

B. False

Data that have been collected prior to the start of the current research project are considered primary data. A. True B. False

B. False

What is the best situation in the Circles for a Successful Value Proposition framework? A. The firm's benefits overlap with both customer needs/wants and competitors' benefits. B. The firm's benefits overlap with customer needs/wants but not with competitors' benefits. C. The firm's benefits overlap with competitors' benefits but not with customer needs/wants. D. Customer needs/wants overlap with both the firm's benefits and competitors' benefits. E. None of the three circles overlaps.

B. The firm's benefits overlap with customer needs/wants but not with competitors' benefits.

The basic difference between a good and a service is that a good A. provides intangible benefits. B. can be physically touched. C. is always less expensive than a corresponding service. D. generates greater interest among consumers. E. is more quickly forgotten by consumers.

B. can be physically touched.

To attract and maintain habitual purchasers, marketers spend considerable effort A. analyzing consumer data for postpurchase dissonance signals. B. creating strong brands and store loyalty. C. cultivating cultural decision making. D. reducing financial risk and increasing psychological payout. E. offering alternative brands.

B. creating strong brands and store loyalty.

Learning refers to a change in a person's thought process or behavior that arises from A. attitudes. B. experience. C. risk analysis. D. cultural norms. E. postpurchase dissonance.

B. experience

As director of a small art gallery, one of Frederica's major concerns is the preferences of the people who buy her artists' work. Frederica recognizes that the center of her marketing efforts is A. profits. Correct B. her target customers. C. artistic social responsibility. D. competing art galleries. E. the arts movement

B. her target customers.

Firms use a differentiated targeting strategy because A. it is easier than mass marketing. B. it helps to obtain a bigger share of the market. C. it is better than focusing on individual or small groups of potential customers. D. most market segments are too small to be profitable. E. banks are more willing to extend credit to companies with this strategic approach.

B. it helps to obtain a bigger share of the market.

Beverage companies often use television commercials with images of young people laughing and enjoying themselves on a beach or in a club. These images are designed to appeal to consumers' __________, suggesting "be like me." A. geographic choices B. self-concepts C. loyalty references D. benefit perceptions E. demographics

B. self-concepts

Jennifer's spending decisions are heavily influenced by her family, her peers, and her religious education. These influences on her spending decisions are examples of A. assessment of psychological risk. B. the external social environment. C. physiological needs. D. cognitive needs. E. an evoked set.

B. the external social environment.

When automobile manufacturers introduced SUVs, they distributed and promoted them in the United States, but not in Europe where gasoline is heavily taxed and roads are much smaller. Car manufacturers recognized that this new line of cars A. provided equivalent relative advantage for both European and U.S. customers. B. were not compatible with European market conditions. C. did not provide benefits that were observable. D. involved technology that was too complex. E. could not be easily tried by consumers.

B. were not compatible with European market conditions.

Using __________, researchers ask questions, listen to and record responses, and ask additional questions based on initial responses. A. questionnaires B. experiments C. in-depth interviews D. primary data mining E. observation

C. in-depth interviews

Retailers in expensive resort areas often find it difficult to hire quality salespeople. In a situation like this, some retailers augment or even replace the sales and customer service functions with A. expanded hours of operation. B. continuous use of promotions. C. in-store kiosks or self-checkout lanes. D. special attention to placement of products in their stores. E. positioning relative to competing firms in the area.

C. in-store kiosks or self-checkout lanes.

Because services are __________, it is often difficult for marketers to convey the benefits to consumers. A. variable B. inseparable C. intangible D. perishable E. substantial

C. intangible

The major disadvantages of primary data collection are that A. it can only be accessed through syndicated databases or unstructured data mines. B. it cannot be tailored to meet specific research needs. C. it takes more time to collect than secondary data and is more costly. D. it is too general to meet researcher's and manager's needs. E. all of these are disadvantages of primary research data.

C. it takes more time to collect than secondary data and is more costly.

By the time BMW got into the mini-SUV market, sales had leveled off and were even starting to decline. BMW had to target its marketing efforts toward the _________________ diffusion of innovation group. A. innovator B. laggard C. late majority D. early majority E. early adopter

C. late majority

What is a disadvantage of online focus groups, compared to offline focus groups? A. They are more expensive. B. They attract a more limited group of participants. C. They generally take longer to conduct. D. They usually do not permit insights based on body language. E. They produce insights that are rarely taken seriously.

D. They usually do not permit insights based on body language.

By offering environmentally responsible products, green marketers A. undercut prices of non-environmentally responsible marketers. B. keep costs much lower than those of competitors. C. make consumers feel guilty for buying other products. D. add value that other products do not have. E. all of these

D. add value that other products do not have.

When marketers monitor the economic situation affecting their target markets, they are likely to monitor changes in all of the following EXCEPT A. purchasing power. B. interest rates. C. inflation. D. age. E. currency exchange rates.

D. age.

Anita has gone to the same hair salon for the past ten years. She believes that her stylist, the salon owner, does a better job of cutting and styling her hair than anyone else could. Other salons have opened closer to Anita's home, some offering more plush facilities or lower prices, but she isn't tempted to switch. Anita's attitude toward the salon is an example of: A. a sustainable competitive advantage. B. a customer retention program. C. an opportunity, in SWOT analysis. D. customer loyalty. E. the benefits of a locational excellence strategy.

D. customer loyalty.

Successful first movers create a market or a product category. They often benefit from being readily recognizable to consumers and A. not having to pay advertising expenses. B. using prototypes to dominate the market. C. not needing to do test marketing. D. establishing an early market share lead. E. motivating laggards to buy their products.

D. establishing an early market share lead.

Value is A. the lowest cost option. B. represented by brand names. C. the highest priced alternative. D. everyday low prices. E. what you get for what you give.

D. everyday low prices.

Today, almost every sales rep can immediately check the company's inventory and production scheduling electronically. This allows sales reps to sell what is available and make promises to customers that they can keep. This technology has improved service delivery through A. access to a wide variety of services. B. greater control by customers over service delivery. C. increased zone of tolerance. D. greater ability to obtain information. E. saving customers time.

D. greater ability to obtain information

When Ron complained to his bank about the unprofessional behavior of one teller, the branch manager added a code into his accounts alerting all tellers that Ron was a valued customer and to provide whatever service he requests. The branch management included Ron in its __________ segmentation. A. benefit B. geodemographic C. psychographic D. loyalty E. geographic

D. loyalty

By changing a standard from "be nice to customers" to "greet every customer, and if possible by name," a services marketing manager has created a(n) __________ goal. A. insurmountable B. invisible C. empowerment D. measurable E. inseparable

D. measurable

Marketing is inherently A. Good B. Evil C. Powerful D. Advertising

C. Powerful

__________ is the number of items within a product line. A. Brand equity B. Product line breadth C. Product line depth D. Product mix depth E. Product mix breadth

C. Product line depth

__________ distribution intensity helps a seller to maintain a particular image and control the flow of merchandise into an area. A. Intensive B. Endogenous C. Selective D. Collective E. Variable

C. Selective

What is the primary cause of a delivery gap in service delivery? A. Managers set extremely specific service standards. B. Managers misinterpret customers' expectations. C. Service employees sometimes do not deliver according to standards. D. Firms make service promises they don't keep. E. Employees are allowed to make decisions about service delivery.

C. Service employees sometimes do not deliver according to standards.

As a retail clothing store manager, Randy frequently asks his staff what customers are saying and what they are asking for. He also attends the quarterly clothing show at the regional merchandise mart. Randy's efforts will likely help him to A. avoid cognitive dissonance. B. implement just-in-time marketing promotions. C. identify potential opportunities. D. avoid the need to understand regional culture. E. all of these.

C. identify potential opportunities.

Retailers that offer a broad variety of merchandise, limited services and low prices are known as A. full-line discount stores. B. convenience stores. C. home improvement stores. D. category specialists. E. department stores.

A. full-line discount stores.

When mountain climbers purchase clothing for scaling Mount Everest, their purchases are primarily addressing __________ needs. A. functional B. prepurchase C. social D. psychological E. functional and psychological

A. functional

Most "big box" retailers regularly move products from one aisle to another. They also put personal care products in the pharmacy area, many aisles away from the grocery products. They do this because consumers who spend more time walking through the store are likely to make A. impulse purchases. B. limited problem solving decisions. C. extended problem solving decisions. D. ritual consumption purchases. E. affective alternative decisions.

A. impulse purchases.

One key feature of the value of a brand is that A. it often protects the firm from competition and price competition. B. it no longer needs to be supported by advertising and promotion. C. if it becomes a generic name, the brand is worth even more. D. it cannot be successfully imitated by a retailer's own brand. E. competitors will typically abandon a sector altogether rather than compete.

A. it often protects the firm from competition and price competition.

The activity, set of institutions, and process for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is called A. marketing. B. marketing research. C. market share analysis. D. market segmentation. E. market positioning.

A. marketing.

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged? A. planning B. implementation C. control D. segmentation E. metrics

A. planning

In New England foot-long sandwiches are called "grinders" while in many other parts of the country they are called "subs." This is an example of the impact of A. regional culture. B. country culture. C. generational factors. D. social trends. E. regulatory factors.

A. regional culture.

After identifying various market segments that her company could pursue, Lisa evaluated each segment's attractiveness based on size, income, and accessibility. Lisa was involved in: A. target marketing. B. situation analysis. C. diversification. D. positioning. E. market penetration estimation.

A. target marketing.

Manufacturers who use just-in-time manufacturing systems coordinate closely with suppliers in order to ensure that materials and supplies arrive just before they are needed in the manufacturing process. While just-in-time systems can offer major advantages in terms of inventory costs, they must be carefully managed. If a firm found that its just-in-time system was badly managed, leading to frequent manufacturing delays due to missing parts, this would represent a __________ in a SWOT analysis. A. weakness B. opportunity C. threat D. strength E. business mission

A. weakness

Today, retailers like Walmart, Home Depot, and Kroger dictate to their suppliers all of the following EXCEPT A. which competitors they should collaborate with. B. what should be made. C. how products should be configured. D. when products should be delivered. E. what products should cost.

A. which competitors they should collaborate with.

Suppose that you are the vice president of marketing for Target, the large retail store chain. You want to keep your website and in-store services current with technological advances. You would be experimenting with the next expected development in mobile technology, which is A. wireless payments from mobile devices. B. location-based social media applications. C. mobile devices completely replacing desktop and laptop computers. D. devices that block smartphone usage in retail stores. E. all of these.

A. wireless payments from mobile devices.

Multichannel retailers are able to simply charge the same prices across all channels. A. True B. False

B. False

"Why create a perceptual map?" asked David. Andreas, the senior marketing manager, gave him four reasons. Which of the following is NOT a valid reason? A. "It's a quick way for senior managers to see not only our product but each of our competitors, all at once." B. "It's a way to demonstrate the dimensions that our customers think are important." C. "It shows where we aren't - and where our competitors aren't - in our customers' and prospects' minds." D. "It's a way to show the position of the company in ten years." E. "We can easily show where we are positioned and how large the market is."

D. "It's a way to show the position of the company in ten years."

Portfolio analysis is a useful and powerful tool, but firms often need to take a more balanced approach because: A. measures are difficult to obtain and project. B. classifications can become self-fulfilling prophecies and strengths and weaknesses are distorted. C. substitute approaches can offer different insights. D. All of these. E. None of these.

D. All of these.

__________ segmentation is the segmentation method most directly related to value creation for consumers. A. Geographic B. Demographic C. Psychographic D. Benefit E. Geodeomographic

D. Benefit

Which of the following is a core aspect of marketing? A. Satisfying as many needs as possible B. Creating a product that everyone will want to buy C. Setting prices lower than all competitors D. Making product, place, promotion, and price decisions E. Increasing the company's profit

D. Making product, place, promotion, and price decisions

Gretchen has a job that requires working late several nights a week. This puts a lot of strain on her to find time to shop and prepare meals for her family. Grocery stores recognize the importance of consumers like Gretchen and have responded in all of the following ways except A. creating "ready to heat" meals that would allow Gretchen to have freshly prepared meals. B. developing meals with precut and premeasured ingredients that would allow Gretchen to cook them at home. C. staying open late. D. advertising their products heavily on daytime television. E. using creative check-out procedures so Gretchen can finish her shopping quickly.

D. advertising their products heavily on daytime television.

When choosing marketing communication methods, the most effective and efficient option depends on: A. the customers. B. the value created. C. the message. D. all of these. E. none of these.

D. all of these.

During the research design step of the marketing research process, researchers identify the type of data needed and A. the statistical software to be used. B. the dates when data will be collected. C. the forum in which the data will be presented. D. the identities of research participants in the project. E. the type of research necessary to collect the data.

E. the type of research necessary to collect the data.

Laptop computers, personal digital assistants, and cellular phones were all readily accepted and diffused in U.S. markets where business and personal lifestyles tend to be faster-paced, compared to many other areas in the world. These products offered ________ with consumers' needs and priorities. A. relative positioning B. compatibility C. observability D. complexity E. trialability

E. trialability

Select ALL the reasons why marketing is important? A. Can be entrepreneurial B. Expands global presence C. Pervasive across channel members D. Can enriches societies E. Makes life better for consumers

A, B, C, D

What is the first principle to the conversation of principles of marketing? A. How to Build Trust B. How to Sell Products C. How to Advertise D. How to Win Others Over

A. How to Build Trust

In the marketing research process, data collection happens after research design. A. True B. False

A. True

When purchasing a mobile phone, the product you are buying is more than just the phone. A. True B. False

A. True

One example of a customer loyalty program is: A. a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases. B. a quantity discount offered for large purchases at an office supply store. C. all of these. D. an "everyday low price" policy on all products at a grocery store. E. an extensive customer service training program for new employees at a hair salon.

A. a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases.

Kohl's, JCPenney, and Bloomingdales are examples of A. department stores. B. off-price retailers. C. discount stores. D. extreme value stores. E. category specialist stores.

A. department stores.

The buying process begins with a comparison of available alternatives. A. True B. False

B. False

Tweens rarely use any type of technology. A. True B. False

B. False

According to Kotler, one of the main reasons marketing is a topic of humanities is because: A. It sells products to people who need and want them B. It shapes wants, creates lifestyles and culture C. It develops economies and can destroy them D. It deals with psychological manipulation

B. It shapes wants, creates lifestyles and culture

A __________ gap reflects the difference between customers' expectations and the firm's perception of those customer expectations. A. seniority B. knowledge C. standards D. delivery E. communication

B. knowledge

The _________________ diffusion of innovation group is the last large group of consumers to adopt a new product or service. A. innovator B. laggard C. late majority D. early majority E. early adopter

B. laggard

The decision to delete a product is never taken lightly because, generally, manufacturers have A. offered the product line to other firms for purchase. B. made substantial investments in brand development and manufacturing. C. promised consumers they will maintain the product. D. used brand repositioning to improve results. E. federal standards that must be met when taking products off the market.

B. made substantial investments in brand development and manufacturing.

Viewers of the baseball World Series are likely to see ads for beer and cars, and viewers of the Academy Awards broadcast (the "Oscars") are likely to see ads for clothing and hair care products, due to A. cultural expectations. B. male domination in corporate boardrooms. C. demographic data indicating that the World Series attracts male viewers and the Academy Awards attracts female viewers. D. marketers' perceptions that women don't like beer and men don't care about their hair. E. multiyear advertising contracts that cannot be broken.

C. demographic data indicating that the World Series attracts male viewers and the Academy Awards attracts female viewers.

"Effective marketing doesn't just happen." It is: A. promoted through STP analysis. B. possible only for seasoned marketing executives to achieve. C. planned. D. introduced through control phase SBUs. E. the result of competitor's failures.

C. planned.

The complete set of all products offered by a firm is called its A. product line. B. product categories. C. product mix. D. product breadth. E. product line depth.

C. product mix.

Gloria is opening an upscale women's clothing store in a growing suburban residential area. Gloria knows her target market is upper-income women living within twenty miles. She can't afford to purchase a PRIZM or Tapestry analysis so she will most likely use __________ as a basis for targeting her market. A. voter registration lists B. the city phone book C. real estate values by subdivision D. public school enrollment data E. new construction data

C. real estate values by subdivision

Carla has been directed by her regional marketing manager to cut prices on seasonal items, submit an ad in the local paper, and tell distributors to reduce deliveries for the next month. Which step of the strategic marketing planning process is Carla engaged in? A. evaluate performance. B. define the business mission. C. situation analysis. D. implement marketing mix and resources. E. identifying and evaluating opportunities.

D. implement marketing mix and resources.

Although a differentiated targeting strategy can allow a firm to obtain a bigger share of the overall market, this strategy A. is the cheapest option. B. requires the use of advanced advertising techniques. C. rarely works. D. is often expensive. E. is ineffective without multiple brand names.

D. is often expensive.

The importance of supply chain management is often overlooked in the study of marketing because A. marketing has no responsibility for supply chain management. B. supply chain management doesn't add much value for customers. C. companies do not want customers to know anything about the supply chain. D. many of the activities take place behind the scenes. E. supply chain management is already transparent.

D. many of the activities take place behind the scenes.

Andy purchased a number of books from Amazon.com, and he learned to trust the recommendations made to him. More than once he was pleasantly surprised at the books and authors he discovered this way. In this case, Amazon.com was creating value for Andy through A. repeat business. B. rapid delivery. C. expanded market presence. D. personalized offerings. E. interactive offerings.

D. personalized offerings.

Brands that are owned by ___________ are called private-label brands. A. manufacturers B. wholesalers C. supply chain specialists D. retailers E. manufacturer's reps

D. retailers

Many states have laws regulating the prices businesses charge during emergencies like hurricanes. These laws are designed to protect consumers whose __________ state may impair their ability to make sound purchase decisions. A. shopping B. social C. theoretical D. temporal E. ecclesiastical

D. temporal

Caroline needs to find information about income and age distribution in Orange County, California. The best source of secondary research of use to Caroline is likely to be A. door-to-door surveys. B. focus group interviews. C. syndicated data. D. sales invoices at public libraries. E. U.S. Census data.

E. U.S. Census data.

Four frequently used targeting strategies are the micromarketing, undifferentiated, differentiated, and __________ targeting strategies. A. geographic B. benefit-based C. economic D. global E. concentrated

E. concentrated

Frequent buyer/user award programs are used to A. increase price sensitivity. B. decrease co-branding costs. C. lower licensing fees. D. expand product line depth. E. maintain contact with loyal customers.

E. maintain contact with loyal customers.

Retailers use __________ to get customers into their stores. A. in-store promotions B. specialty product displays C. supply chain relationships D. off-price wholesaling E. mass media advertising

E. mass media advertising

Firms decide how to allocate resources to their various products and services during the STP step of the marketing planning process. A. True B. False

B. False

Consumers might not realize that Old Spice health and wellness products and Iams pet nutrition products are made by the same company - Procter & Gamble. Old Spice and Iams are known as A. individual brands. B. family brands. C. corporate brands. D. traditional brands. E. registered brands.

A. individual brands.

Before the first of the three presidential debates in the fall of 2012, staffers from both the Romney and Obama campaigns made surprisingly pessimistic statements about their candidates' expected performance, apparently following a strategy of setting low expectations. Like marketers, though, political candidates who set expectations too low could A. tarnish the voters' image of the candidate. B. create post-election confusion. C. stimulate impulse voting. D. increase financial risk. E. redefine determinant attributes.

A. tarnish the voters' image of the candidate.

In questionnaire design, a question such as, "When was the first time you went to a dentist?" suffers from the problem of a question A. that respondents cannot easily or accurately answer. B. that respondents are reluctant to answer because the information is sensitive. C. that steers respondents to a particular response. D. that asks two questions at once. E. that is complex and something respondents may be unfamiliar with.

A. that respondents cannot easily or accurately answer.

If Microsoft decided to sell mobile phones under the Xbox brand (which it uses for its gaming systems), this would be an example of a line extension. A. True B. False

B. False

Black Friday," as the day after Thanksgiving has come to be known in the U.S., is a day marked by many special deals in most retail stores, including deep-discounted products available in limited quantities, called "doorbusters," and designed to get shoppers into the store. But one danger of running out of the "doorbuster" deals is that a shopper may become angry or discouraged at failing to get the special item, and decide not to do any more shopping. This is an example of the impact of __________ on the consumer decision process. A. the purchase situation B. lifestyle C. temporal state D. perception E. learning

C. temporal state

There are approximately 1 billion people living in India. Only about 200 million of these people earn more than the equivalent of $1,000 per year. According to Maslow's Hierarchy, most of the other 800 million Indian consumers are primarily addressing their __________ needs. A. social B. personal C. psychological D. esteem E. physiological

E. physiological

Regina wants to position her financial services company. Regina can position her services according to all of the following EXCEPT A. the value proposition. B. product attributes. C. symbols. D. competitive comparisons. E. profitability.

E. profitability.