Marketing Mid Term

Cultural differences are particularly important for

Firms marketing internationally

Indigo ltd. wanted to increase its customers by applying the marketing concepts. Which of the following would be an appropriate way to apply this approach?

Focus on the meeting the needs of the consumers

Which of the following is true of focus groups used by marketers to gather primary data?

They are a valuable tool for explanatory research and development of new product ideas.

Which of the following is true of the Hispanic population in the United States?

They are rising in proportion because of their high birth rates

Marketing to Asian American consumers is challenging as:

They belong to multiple ethnic groups with their own language, religion, and value systems

Data released last week revealed that consumer expenditure during the month of December 2014 declined by 0.3%. This was in spite of the fact that during the same month, household income increased by 0.3%. Considering that the holiday season generates a high level of sales, you would interpret the information as to suggest:

This might have been an isolated incident. I would not advise not to venture to a guess concerning its ramifications.

In the VALS system, action-motivated consumers are those who:

Those who seek physical activity, variety, and adventure.

Lockheed Martin won the largest military contract ever by proving it could be the first company to develop and fly a new model plane. This illustrates the importance of _____

Time Based Competition

Palmer Inc. recently changed its promotional strategies for marketing the products. The marketing team at palmer has been asked to evaluate the target market and the marketing mix elements to find ways to improve the effectiveness of the marketing strategies. Since the firm already knows the purpose of its research, the next step in the marketing research process is to:

To formulate a hypothesis

For every $1 spend in the United States, ______ is attributed to the African Americans population.

.09

A consumer who scores low on extraversion would be most likely to buy which of the following items:

A book

Which of the following is an example of a person marketing? (marketing efforts designed to cultivate the attention, interest, and preferences of a target market toward a person)

A mall being inaugurated by a famous commercial actor

If a company such a J.B. Trucking wanted to avoid marketing myopia (managements failure to recognize the scope of its business), it should define its business as:

A trucking company

A shift in cultural values away from accumulating material possessions to spending time with family and friends benefit those who market

Amusement Parks & Picnic Areas

Which of the following scenarios best illustrates reinforcement in purchasing decisions?

An appliance distributor replaces a dishwasher free of charge and provides excellent after sales service

Atari, a consumer electronics and video games company, observed the innovations of Nintendo Co., the most powerful video game company at that time, and destroyed the market share of Nintendo eventually. This implies that Atari:

Applied the second mover strategy

Food manufacturers often set up tables in grocery stores where customers can sample featured products. The goal of this type of promotion is to specifically influence the ______ component of attitude.

Behavorial

A company's ability to market a product successfully at a higher price compared to its competitors is directly related to its:

Brand Equity

A popular clothing brand in Switzerland decided to launch a new line of home furniture under the same brand name. This strategy being used by the company to launch its new offerings is called _______.

Brand Extension

A company has introduced a new product in the market. The company distributes free samples of this product to people so that they can try it. This products is at the _______stage of brand loyalty.

Brand Recognition

A frequent flyer program used by an airline is an example of _______.

Brand loyalty segmentation.

The lumber that a carpenter purchases to make a table for a customer can be classified as a:

Business Product

Phoebe was asked to bring a can of food for the local food bank as the "price of admission" for a certain ceremony. This is an example of ______.(cause marketing- identification and marketing of a social issue cause or idea to selected target markets)

Cause Marketing

Which of the following factors has helped increase the importance of packaging as a marketing tool?

Changes in consumer lifestyle and buying habits

Hertco Kitchen purchases cabinet doors from two vendors. In their production of kitchen cabinets, the doors constitute:

Component parts

DK Motor's difficulty in competing with other car makers due to its lack of responsiveness to changing consumer preferences constitutes a:

Constraint on its activity

Kyle plans to buy new tires for a car that his family uses for camping trips. These tires are of the same type like those that are used on General Motors commercial trucks and can be purchased from Industrial Tire Company. The tires that Kyle will buy for his car can be classified as ___ products.

Consumer

You are commissioned by an electronics corporation to develop and market a new handset for telecommunications. You will proceed with the following functions in a sequence that would reach the corporate objective with minimal waste.

Consumer and Business Markets, product Development, Direct and Indirect Distribution, Transportation and Warehousing, Promotion, Pricing and Consumer Financing, Product and Customer Services, and Outreaching.

Which of the following is a trend usually observed during an economic depression?

Consumers focus on more basic, functional products that carry lower price tags

The term "product positioning" refers to:

Consumers' perception of a products attributes, uses, quality as well as advantages and disadvantages relative to competing brands.

"On the street" interviews conducted by a broadcaster with anyone who passes by are examples of _____sampling.

Convenience Sampling

Hertco management is considering expansion of their production facilities to support more sales. This requires more and more purchases of materials. You are going to allocate a space adjacent to their building to a couple of vendors in order to have them build the outsourced parts on the premises and deliver them in time to the production line. This method of delivering outsourced materials is called:

Conveyor belt loading

Japanese automaker, Subaru, generates more than half of its sales in just four states (Alaska, Colorado, Maine, and Washington). These states constitute Subaru's:

Core region

Relationship marketing can help a company:

Create long term and cost-effective links with customers and suppliers for mutual benefit

Segmentation by benefits sought is a product-related segmentation approach that:

Determines the marketers effect in satisfying the customer

Maxwell has been promoted to an upper-level management position at QVC. He will be involved in matters relating to transportation media, order processing, and development of marketing channels. Maxweel is involved in developing ________ strategies for the marketing team.

Distribution

Product lines, pricing decisions, selection of appropriate distribution channels, and decisions relating to promotional campaigns are _______

Dynamic in today's boundary less business environment

If you were marketing a certain product towards Asian Americans, what would you most likely do to advertise this item?

E-Newsletter Online

Monitoring local newspapers and television news shows for general information relating to a firms business would be an example of:

Environmental Scanning

The tour de cure is a bicycle ride, not a race, to raise money for the American diabetes association and is held in 40 states nationwide. This is an example of:

Event Marketing

Housewares and apparel by Michael Graves and Mossimo Giannulli are sold exclusively at Target. These brands are examples of ________ brands.

Exclusive Brands

You remember our discussion of market segmentation and targeting strategies. We discussed the market segmentation strategies by three automobile producers, Ford, General Motors, and Ferrari. From our discussion we concluded that:

Ford Model T an undifferentiated, GM cars a differentiated, and Ferrari a concentrated market segmentation strategy

Noel Pvt. Ltd combines metal, rubber, and other components in the production of appliances. In doing so the company creates _____ utility.

Form

Kate believes the reason the sales of one of her company's products has fallen is due to a price increase. She cites sales from the previous year to the same customers as evidence of declining sales. Kate is:

Formulating a hypothesis

Douglas Knowles & Howe, a marketing research firm, contracts with clients to conduct complete marketing research projects, including telephone and online interviews. DK&H is a

Full service research supplier

The group born between 1968 and 1979, now generally in their early 30s to early 40s, often are referred to as _____.

Generation X

A benefit of reviewing Safavi's Market fair is to learn the sequence of marketing activities in a broad sense to include the following functions in the order of their appearance:

Get to know the needs and wants of your target markets, 2-develop products with attributes to satisfy them, 3- distribute the products directly or indirectly to the target market, 4- handle transportation, warehousing, and logistics, 5- promote the product, 6- price it right and offer financing, 7- service the product, and 8- reach to the national and international markets.

Jen's Dairy markets milk and other milk products are purely organic and grown using sustainable farming methods. They also have a program under which they recycle used cans of their products. These marketing strategies employed by Jen's dairy show that they are involved in ______.

Green Marketing

Which of the following changes is seen as a result of a rise in households with only one person?

Increase in single serve food products

News reports from Zimbabwe indicate that a small pack of locally produced coffee beans costs approximately 1 billion Zimbabwean dollars, an amount that would have bought 60 new cars less than ten years ago in the same country. It can be surmised that Zimbabwe is experiencing extremely high levels of _____ which has spiraled out of control in the past ten years.

Inflation

Which of the following can be regarded as external data?

Information obtained from a syndicated research service

Rachel, an advertising executive, shops for clothing at a trendy store in town. The sales clerk shows her the latest styles in bright prints and bold colors. Although these are the styles worn at her office, she rejects them and purchases traditionally formal clothes in neutrals and black. Rachel's decision is most likely driven by ______ factors.

Institutional

Which of the following statements is true regarding a monopoly?

It is the most common type of competition in the U.S. market

Entertainment research group specializes in rating movie theaters using input from moviegoers. Entertainment research group is an example of a:

Limited service research supplier

Which of following is most likely to be primary factor that attracts a consumer to a generic product?

Low Price

More than 90 percent of cereal is consumed at breakfast, but ads for Kellogg's Cracklin' Oat Bran say that it tastes like oatmeal cookies and makes "a great snack anytime." Kellogg's is implementing a strategy of ____with this product.

Market penetration.

Which of the following is a limitation of secondary data not found in primary data?

May not be relevant to the specific needs of the marketer

The Fayetteville-Springdale-Rogers region of Arkansas has approximately 340,000 people. Fayetteville is an urban center and it alone has a population f 60,000. The Fayetteville-Springdale-Rogers region would be classified as a:

Metropolitan Statistical Area

Erica is a marketing researcher involved in improving retail store layouts. Erica would like to know the order in which the various types of products are purchased by the customers. Erica also wants to find out what type of assistance is required by the customers while purchasing products. The best method for Erica to collect this data would by:

Observation

The airline industry in a particular country has only four dominant players. Large capital investments and government regulations often prevent new players from entering the market. Based on this information, the structure of the airline industry in this country is ______

Oligopoly

A job that requires one to travel to new places, appreciate different types of art and architecture, and explore new ideas would be ideal for a person who scores high on:

Openess

A university sells customized sweat shirts, pull overs, and jerseys to its students and staff. This is an example of ________.

Organization Marketing

An example of a firms strength discovered by a SWOT analysis might be:

Ownership of valuable patents

Jorge plans to buy a car and discusses the purchase with his parents. Their influence on his buying decision is considered:

Personal

State bureaus of tourism and conventions typically engage in ____ marketing.(place marketing- marketing efforts to attract people and organizations to a particular geographic

Place Marketing

In the context of the sampling process, the universe is also known as the ______.

Population

The Kirkland brand is owned by Costco, and the products can only be purchased at Costco stores. Costco contracts with manufacturers to produce and package products under the Kirkland name. Kirkland can be regarded as an:

Private Brand

Assume you want to increase the number of customers by applying the marketing concept.(companywide consumer orientation with the objective of achieving long run success) Which of the following strategies would be more consistent with this approach?

Reduce Product Costs

Promotional schemes like frequent shopper programs will provide incentives to loyal buyers. Considering porter's five forces model, such offers will:

Reduce the threat of new entrants

Many hotels chains offer free stays and other perks to repeat customers. This is an example of

Relationship Marketing

Management of Hertco Kitchens has indicated the following attributes as a key factor in selection of a vendor (in addition to compatibility with its design and the quality of the purchased object):

Reliabiilty

It is crucial for marketers to focus their marketing strategies on opinion leaders in a group as opinion leaders:

Represent the trendsetters who will purchase before others in the group and influence others buying decisions.

Which of the following is true of secondary data used in marketing research?

Requires less time and is less expensive to gather.

Artisanal Brands, Inc. markets and distribute a line of specialty, artisanal, and farmstead cheese product in the US. The company gives bulk discounts to their wholesalers. The result is that smaller stores are getting the products at a higher rate as compared to supermarkets and large shopping chains. These stores will be protected under the ______.

Robinson-Pathan Act

Helene made sure that her company car was equipped with OnStar devices in case she ever has car trouble or gets lost while traveling between appointments. Which level of Maslow's hierarchy of needs is Helene addressing?

Safety Needs

Walmart is evaluating its performance records of the previous years that are stored in its database. In addition to this, the company is also evaluating its previous year invoices. This evaluation process carried out by firms is called ______

Sales Analysis

Penelope is using data collected and published by a trade association in her marketing research study. The data used by Penelope can be regarded as ______.

Secondary Data

Joining a local bowling league for social interaction is an attempt to meet ________ needs.

Self-Actualization

Bank of Norasmus is one of the few banks that provides credit to disadvantaged communities. These loans are used for housing, small business creation, and education or personal development. Such an organization is said to be involved in ______.

Socially responsible investing

ADA Inc. stopped its production of oral care goods after determining apparel production to be its new primary objective. This is a direct result of the ______ planning process at ADA Inc.

Strategic

The coffee cup, a popular coffee chain in Switzerland, is trying to expand its business into Canada. It decides to enter into a partnership with a Canadian bookstore chain to set up coffee shops inside bookstores, an arrangement which will benefit both firms. This type of partnership that helps to create a competitive advantage is a new market is known as a _______.

Strategic Alliance

At a time when computer users were having trouble storing, sending, and displaying photos, apple introduced the iMac computer, which was equipped with a digital camera interface and photo-handling software. This product was a result of apple recognizing its:

Strategic Window

A certain social networking corporation has the highest number of users in the social networking industry. This is an example of the firm's:

Strength

A newly married couple is looking to rent an apartment. This decision is most likely to be:

Syncretic

Jose is part of a team that is analyzing current demographic trends. The team will make a recommendation concerning the groups of consumers toward whom the firm should direct its new marketing effort. Jose's team is involved in which of the following elements of the firms marketing strategy?

Target Market

Which of the following is a basic requirement for effective market segmentation?

The company must set a large number of small market segments so that they can develop effective strategies to appeal to them.

A product is said to have achieved brand preference when:

The consumer sees and recognizes the product and chooses it over its competitors.

Decisions relating to the product strategy primarily revolve around______.

The features of the product being released to the market

Bell Weddings was the company that pioneered the wedding planning industry. The owners realized that customizing weddings to the wishes of the families, taking charge of the responsibilities, and creating a day that is memorable for clients was an incredible business venture. The case of Bell Weddings illustrates the value of ______.

The first mover strategy

Business strategies are impacted by the widespread use of the Internet. Which of the following is true with respect to its impact?

The internet has reduced barriers to entry

According to the Young & Rubicam's Brand Asset Valuator model, brand relevance is a dimension of brand personality that refers to :

The real and perceived appropriateness of a brand to a big consumer segment.

Pharmaceutical companies often get patents granting them the exclusive right to produce and market drug formulations they have developed. These patents are

The result of non compete agreements signed by pharmacies

Five years ago, Joshua spent 28 percent of his $45,000 yearly income on his bachelor apartment. Today, Joshua is earning $60,000 annually. According to Engel's laws, the percentage of income he will spend on his new apartment will be:

The same as it was back then- 28 Percent.

An automobile manufacturer is dependent on a single supplier for tires. Based on this information, which of the following statements is true?

The supplier has significant bargaining power

The cohort effect describes:

The tendency of members of a generation to be influenced and bound together by events that occurred during their key formative years.

The exclusive dealing arrangement implies that

The wholesalers or retailers agree to exclusively handle the product of a single producer and do not carry products of the competitive firms

Which of the following is a combination of person, cause, and organization marketing?

UNICEF's work to improve the living conditions of children across the world

Tying agreement refers to

When someone buys a suit, the seller throws in a tie in the deal that eliminates refund.