Marketing Management

Market penetration

The Massage Therapy Center maintains a database of over 700 clients and sends each one a special discount offer in the month of their birthday. Managers hope that as existing customers use the discount, they will see an overall growth in sales. According to Igor Ansoff's Product-Market Matrix, this is an example of the ________ strategy.

gender-bending

The fashion apparel and skin care industries are candidates for ________ products that appeal to those who do not fit the traditional binary definitions of male and female.

Economic

The international sales manager at a fashion house is concerned that the euro is stronger than the U.S. dollar. This would be identified in the ________ section of a global market research report.

Weaknesses

The marketing manager at a firm that specializes in the design of school buildings discovered a glitch in the software the firm uses. As a result, some of its most recent projects will come in over budget. In the context of SWOT analysis, a discussion of this would be included under

Demographics

The marketing manager for a campus bar knows that his typical customer is a male college student, so he chooses products and entertainment to appeal to that segment. In the context of external information sources, he is using ________ to define his market.

Natural world

The marketing manager of Big Wheel Motors notices an increased demand for "green" cars that use less fossil fuel and emit fewer pollutants. Under which external information source for making marketing decisions will this information be included?

Sampling plan

The marketing manager of a firm has hired a market research team. Together, the manager and the researchers decide that they need data from current customers and noncustomers who fit a specific demographic and lifestyle profile. In the context of research design activities, the selection of these individuals as targets for data collection represents the

Causal

The marketing managers of a shoe company have clearly defined their research problem as "If we increase our promotions expenditures, by what percentage will it increase sales?" They have also decided that they need primary data to answer this question. To collect these data, it is best for them to use ________ research.

difficult to interpret

The primary difference between domestic and international research is that international market data are more________ than domestic data.

Profit

The text discusses the triple bottom line metric, and outlines an approach to consider the impact of TBL in marketing management. This includes people, planet, and

conditioning and cognitive

The two fundamental approaches to learning are

Transaction costs

The value of the Japanese yen has fluctuated widely during the 2000s compared to the U.S. dollar. A firm considering direct foreign investment would report this finding under the heading of

Growth

Three brothers manufacture trailers that are used by lawn service companies. The company was started in Arkansas by their father with one production site and four sales and service locations. Since the sons took over, they have expanded in the last 12 years to include 26 sales and service centers throughout the Southwest. In this case, the company is most likely using a generic business strategy based on

Unreliable sampling procedures

To ensure the primary data they collected about consumer reactions to their product were accurate, a maker of high-end bathroom fixtures hired a single research firm to collect data from certain cities in various countries. In the past, the company had used mail and telephone surveys by local companies in each country to gather data, but it was concerned about whom these companies were surveying and if they actually fit the demographic and lifestyle profiles of the firm's target market. What problem was the firm avoiding when collecting primary data in global markets?

Human Resource Management

Two friends are partners in a manufacturing firm that employs over 1,500 people. Recently, employees have been complaining that they were not told of changes in health insurance coverage and premiums. To which of the following support activities of the value chain can this problem be attributed?

Customer orders

What is an internal source of collecting information for making marketing decisions?

Religious values

What is least likely to be a force that drives countries to form regional market zones?

Subgroups will be smaller and more homogeneous than the overall market.

What is one of the basic principles behind segmentation?

Information needs

What is one of the three factors a company needs to consider when creating a market information system?

Preferred

When Mia wakes up in the morning, she thinks about what she would like to do that day and how she would like to feel. She is thinking about a(n) ________ state.

derived

When VHS tapes became unpopular, retail stores no longer ordered them from suppliers, who no longer ordered them from manufacturers, who ceased to make them, and the stores instead ordered the more popular DVDs. This illustrates how ________ demand impacts the supply chain.

modified rebuy

When a company has used a product and supplier in the past, but decides to seek additional information on other suppliers in the marketplace, it is in the process of a(n)

get several proposals to help with negotiations

When a company solicits RFPs from suppliers with an open vendor search, the goal is to

Geographic regions

When local government relationships are critical to the success of international operations, the best organizational structure for a firm would be

Implementing the results

Which action is least likely to be part of the market research process?

governmental regulations

Which element is least likely to be included in the business position factors of the GE Business Screen?

It involves understanding the marketing mix approach necessary to change consumer perceptions of the product.

Which statement about repositioning is accurate?

The NAICS codes make it possible to purchase detailed information on each of the codes in the system.

Which statement is TRUE about North American Industrial Classification System (NAICS) codes?

Secondary data will not fit the research problem exactly

Which statement is true of secondary data?

General knowledge sites

While researching the possible impact of economic conditions on a proposed new product introduction on the internet, you find an article in Bloomberg Business Week online that reviews how new products have fared during times of rising inflation. Which source of secondary data does this scenario exemplify?

Close ended

While writing a customer satisfaction survey, the marketing director for a bank created a set of questions that customers would answer by circling a number between 1 and 7. The number 1 meant that the customers were very dissatisfied by that aspect of the experience, whereas 7 meant that they were very satisfied. The director is using ________ questions to collect this information.

Nonverbal

________ communication is communicating through means such as time and personal space.

Market research

________ is defined as the identification, collection, analysis, and distribution of data to discover and solve marketing problems or enhance good decision making.

psychographic

________ segmentation is sometimes referred to as segmentation by lifestyle or values.

occupational

________ segmentation recognizes that there may be a number of consistent needs and wants demonstrated by consumers based on what type of job they have.

Utilize input, but don't become paralyzed by information and analysis.

'A company has delayed making a decision on acquiring a new product line because the marketing team members took more than three months to analyze the numbers. Which tip for successful marketing planning experience did the firm fail to use?

external oppurtunities

A SWOT analysis would list the availability of credit for a firm seeking to expand through new construction of real estate under

Mission statement

A ________ articulates an organization's reason for existence, defines the unique purpose that sets it apart from competitors, and identifies the scope of the company's operations, products, and markets.

Threats

A chain of Thai restaurants is located in the southwestern United States. The marketing manager has discovered that there is a growing demand for Spanish food, and the appetite for Asian food is declining. In the context of SWOT analysis, this information would be included under

limited access

A company is conducting an online focus group to learn more about the nutritional habits of senior citizens and the underlying causes of these behaviors. They are having problems because many of the members of their target market do not own computers. Which disadvantage of online focus groups does this scenario illustrate?

participants can become distracted and environmental factors can affect their concentration.

A disadvantage of online focus groups is that

Surveys

A marketing manager has decided to conduct descriptive research using primary data. Based on some preliminary research of trade journals and interviews with customers, she knows what questions to ask. However, the customers she wants information from are spread out over many stores in several states. The best technique for her to collect this data would be

Geographic changes

A marketing manager has noticed that in many European countries, more of the population is moving into urban centers. This has resulted in an increased demand for subcompact cars that can maneuver through these congested streets rather than full-size automobiles. In the context of external information sources, this is an example of how ________ can influence marketing management decisions.

Personal circumstances

A person shops differently when the line at the checkout is long. This is due to

Political legal and ethical

A producer of headphones used with cell phones and tablets contracts manufacturing overseas. The firm is concerned that tariffs may be increased. Under which component of situation analysis will an examination of this issue be found?

of putting product specifications into a document for distribution

A request for proposal (RFP) is the process

Secondary

A restaurant chain recently experienced a decline in hamburger sales after salmonella was discovered during a health inspection at one of the restaurants. The marketing manager was interested in how other restaurants had dealt with similar situations. Which type of data would be the most appropriate way to find answers related to this marketing problem?

Establishing the research design

A soft drink company is conducting market research to determine if a new beverage will be successful. The company is in the process of determining the kind of research that needs to be done, the information needed, and the sampling plan—including the research participants. The company is in which stage of the market research process?

Question mark

A struggling start-up firm needs a huge cash injection. It has an environmentally-friendly pesticide that is approved for use by commercial organic farmers. The pesticide is made from all-natural ingredients and has great potential. A small investment firm has injected cash in the start-up. In the context of the BCG matrix, Green Scene is most likely considered a

Inbound logistics

A window manufacturer has trouble getting glass for its high-end windows. Of the five primary activities in the value chain, this problem is most likely to occur during

Usage patterns

Advertisements with messages like "Orange juice—It's not just for breakfast anymore!" or "Soup can be a delicious way to start a cold winter's day," are using segmentation by ________.

grouping customers into one group is an approach that fails to consider the vast differences in other important variables

Age is a commonly used method of segmentation. Age alone, however, may be dangerous because ________.

Perception

Alice and Tahan see an ad for a new smart TV. Alice sees a high-quality television worth the money while Tahan sees an overpriced television that does not warrant a premium price. What makes them see the same ad so differently?

Character

Aligning the firm's philosophy and ethics with that of a potential channel partner would be identified in the channel strategy of

Can the segment be reached in order to deliver the value of the product, and subsequently can it be effectively and efficiently managed?

American credit card companies would like to offer their services to people in Angola. However, they are finding it difficult because of language barriers and infrastructure challenges. These issues are related to which question about market segmentation?

psychographic

An approach to segmenting consumer markets is ________ segmentation, which relies on consumer variables such as personality and AIOs (activities, interests, and opinions) to segment a market.

Joint venture

An auto parts company wants to enter the Russian market. Russian law prevents foreign entities from owning a majority position in a company there. The best method of entry for the company is most likely

political ethical and legal

Automobile manufacturers must comply with regulations set by the National Transportation and Safety Board. In the context of situation analysis, which macro-level external environmental factor does this exemplify?

extensive information search

Before Gaby bought a camera, she reviewed magazines, solicited opinions from friends and families, conducted online searches, and tested out different cameras in the store. This is an example of a(n)

Diversification

Call Solutions has 12 call centers worldwide handling customer service issues for a variety of companies. The firm is considering the purchase of a software firm that serves the oil and gas industry. According to Igor Ansoff's Product-Market Matrix, this is an example of the ________ strategy.

Dumping

Charging a price that is lower than actual costs or less than the company charges in its home market is called

Stability

Chow Maine restaurants are primarily located in the Northeast. The restaurants had rapid growth in their first seven years. The owner realizes that adding more restaurants would make it impossible to monitor operations. Therefore, he decides to continue current activities without making major changes. In this case, the owner is most likely pursuing a generic strategy of

Product adaptation

Coca-Cola changes the taste of its soft drinks to meet local market preferences. This is an example of

Transfer pricing

Companies sometimes charge internally to move products between subsidiaries or divisions, causing the local subsidiary to add a markup to the final price. This is called

undifferentiated target marketing

Companies sometimes pick a one-market strategy. This marketing approach is called ________.

start-up firms to enter a market as a focus player

Concentrated target marketing is often used by ________.

Country-of-origin effect

Marguerite wants to gift a box of chocolates to her best friend. She walks into a store and buys Belgian chocolates because her friend once mentioned that they are the best in the world. This is an example of how consumers respond to

Distribution

Marik was surprised when a powerful channel member asked for an expensive "gift" to help secure contracts. Which marketing mix element does this impact?

Capital, control, cost, character, continuity

Market channel factors include which of the following

there is evidence that consumers respond differently to marketing strategies and programs based on where they live

Marketers use geographic segmentation when ________.

straight rebuy

Materials, repairs, and operational (MRO) supplies and services are generally purchased through a

Low-involvement learning

Matthew has a new dog and is shopping for a pet grooming tool. He just picks up the first brush he sees and buys it. This is an example of

Image

Mika believes that the only luxury car anyone should ever buy is a BMW. Whenever he sees the BMW logo, he knows that car is a leader in the market. What source of differentiation has BMW achieved?

Goals and objectives should be set

after completion of market research, situation analysis, and competitor analysis.

overpositioning

NewTech Inc. is a manufacturer of PCs, and most of its revenue is generated by selling PCs to consumers. However, the company is struggling to gain new customers for its other product lines such as tablets and smartphones because they see it as only a computer company. In this scenario, NewTech is suffering from the error of ________.

educational

Offering credit cards to high school seniors is an example of ________ segmentation.

Positioning

Once market segments have been defined and analyzed and target markets have been selected for development, the firm must turn its attention to creating, communicating, delivering, and exchanging offerings that have value to the target markets. This process is known as ________.

Positioning

Organizations communicate one or more sources of value to customers in a way that the customer can easily make the connection between his or her needs and wants and what the product has to offer. Execution of this approach is referred to as a firm's ________ strategy.

sales promotion

PepsiCo and Coca-Cola sponsor traveling carnivals in rural Latin America to encourage product trial. This element of marketing communications is called

Retention

Selective ________ tends to reinforce existing attitudes and creates a real challenge for marketers trying to overcome negative beliefs and attitudes since people are less likely to be aware of or retain information to the contrary.

Convenience

Starbucks has placed stores every few blocks all over the city, which makes it difficult for the competition to get a foothold. Starbucks is focusing on ________ leadership as a source of differentiation.

Learning

Suzette practiced the piano until she could sit down and play a song by heart. This demonstrates the concept of

Value

what is the net benefits (or costs) associated with a product or service, and it is affected by the buyer's trust that the company will keep its promises.

customer computers to communicate directly with supplier computers.

Electronic data interchange (EDI) allows

International marketing

Firms that manufacture in a foreign market and maintain an extensive sales organization and distribution network but have a "domestic first" approach are probably engaged in what marketing

executive summary

For managers, the key section of the market research report that presents a brief and concise overview of essential findings is the

VALs

Fred felt that if he could "get into the head" of his potential customers by tapping into their experiences, he could find a way to entice more of them to use his product. What psychographic segmentation measure could he use to accomplish this?

operant conditioning

Frito-Lay is using ________ when offering free in-store samples of Doritos for the express purpose of getting people to try the product, enjoy the product, and finally purchase a bag of Doritos.

Retention

Hilda just got her first sales position, and she is excited about finding new customers for her product. However, her manager feels she needs to focus on customer ________ in order to keep her accounts from switching to a competitor.

Action plans

In a marketing plan, every strategy must include an implementation element. These are sometimes called

code of conduct

In addition to a code of ethics, many companies also create a(n) ________ that seeks to operationalize the company's value by defining appropriate behaviors and decisions.

Cultural/societal

In an Eastern European country, most people eat dinner after 10:00 p.m. This would be identified in the ________ section of a global market research report.

Matrix

In the context of organizational structures, most companies today use a hybrid of global product lines and geographic regions structures or a ________ structure that encourages regional autonomy while building product competence in key areas around the world.

underpositioning

In the context of positioning errors, when consumers have only a vague idea about the company and its products, and do not perceive any real differentiation, it is called ________.

Firm resources

In the context of situation analysis, what is a category for analysis in the internal environment?

Personal selling

Jason went to an automobile dealership to buy a car, and he spent two hours talking to an employee about options. This element of marketing communications is called

Dog

Lately the demand for building materials has dropped due to the slowdown in new housing construction. A lumber distributor is thinking of closing its fine wood division that sells mahogany and cherry lumber for building cabinets and other applications. Under the Boston Consulting Group Growth-Share Matrix, the fine wood division would most likely currently be classified as a

high-involvement learning

Laurie is an avid consumer of conservative news and never watches a program that conflicts with her beliefs. Susan watches both liberal and conservative outlets in order to know all the facts and opinions before forming her own. Compared to Laurie, Susan is engaged in

Political-Legal Environment

Darrell needs to fire a manager of a French subsidiary of his company. He recently found that French law makes it difficult to terminate employees. This would be identified in the ________ section of a global market research report.

make the ultimate purchase decision

Deciders are an important group for the salesperson to identify because they