marketing midterm

25) Returnable packaging, use of 3D printing, and flexible packaging are examples of A) recycled packaging. B) environmental packaging. C) responsible packaging. D) sustainable packaging. E) green packaging.

D) sustainable packaging.

One of the greatest constraints faced by brick-and-mortar retailers- and one that the Internet channel can address-is A) price competition B) the amount of merchandise that can be carried in a physical store. C) competition from other retailers D) common zoning restrictions limiting the kinds of merchandise that can be offered for sale E) interactive customer service

B) the amount of merchandise that can be carried in a physical store.

43) Which ethnic group has shown to have increasing influence on mainstream U.S. culture, which, in turn, will impact the way firms approach their marketing strategy to this group? A) Hispanics B) Asians C) Pacific Islanders D) Native Americans E) Eastern Europeans

A) Hispanics

24) When Johnson & Johnson introduces a travel-sized package for its existing baby oil product, this is known as A) a line extension. B) a brand extension. C) brand dilution. D) rebranding. E) co-branding.

A) a line extension.

39) The difference between a firm's immediate marketing environment and its macroenvironment is that the macroenvironment A) is external. B) is easier to understand. C) is easier to control. D) has fewer components. E) is internal.

A) is external.

33) Many companies use the Internet to allow consumers to design customized products; for example, Nike allows customers to order shoes with custom color combinations. This is a form of A) micromarketing. B) concentrated targeting. C) psychographic segmentation. D) differentiated targeting. E) undifferentiated targeting.

A) micromarketing.

46) 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

50) After success with its Netflix series Jessica Jones and Daredevil, Marvel launched two additional series, Iron Fist and Luke Cage. By doing this, Marvel employed a ________ strategy. A) product development B) customer development C) market penetration D) market development E) diversification

A) product development

42) Marketers will often decide which population segments to target based on income because income determines consumer A) purchasing power. B) education level. C) marketing influence. D) desirability. E) occupational level.

A) purchasing power.

All of the following are benefits of new product development to a firm except A) reducing the costs of production B) satisfying the changing needs of current and new customers. C) avoiding market saturation from products that have been on the market for a long time. D) creating diversification and reducing risk. E) keeping up in a market with short product life cycles where sales come mostly from new products.

A) reducing the costs of production

Johan owns an oil-change business called Oil Only. He changes oil in cars- and that is all he does. What kind of retail business is this? A) service retailer B) specialty store C) category specialist D) extreme value retailer E) off-price retailer

A) service retailer

For retailers, when making decisions regarding a place, a key ingredient to success is A) product placement promotion B) convenient locations C) private-label merchandise D) off-price placement E) customer relationship management

B) convenient locations

23) Sometimes brand names become synonymous with a product itself. If that happens, the brand A) has achieved brand stabilization. B) could lose its trademark status. C) should try co-branding to avoid brand dilution. D) should consider a new packaging strategy. E) easily eliminates all competition.

B) could lose its trademark status.

27) Marketing research includes all of the following except A) collecting data. B) creating data. C) recording data. D) interpreting data. E) analyzing data.

B) creating data.

40) The shared meanings, beliefs, morals, values, and customs of a group of people constitute their A) social concerns. B) culture. C) demographics. D) generational cohorts. E) religion.

B) culture.

28) The manager of a company selling cellular phones in rural U.S. markets asks you to conduct a survey to uncover what percentage of people in Kansas live in communities of less than 10,000 people. The problem with this research objective is that A) it is irrelevant to the cellular company. B) it is already known and available from the U.S. Census Bureau. C) it will lead to a set of unstructured questions. D) it probably can't be determined with any level of accuracy. E) the research will be costly.

B) it is already known and available from the U.S. Census Bureau.

Retailers use _______ to communicate with or sell to consumers through wireless handheld devices. A) virtual media B) mobile commerce C) cooperative advertising D) share of wallet tactics E) social media advertising

B) mobile commerce

21) All of the following are included in the four product life cycle stages except A) introduction. B) stagnation. C) maturity. D) growth. E) decline.

B) stagnation.

45) Some banks offer special accounts designed to attract junior high school students. These kids save in such small amounts that the accounts cost banks more to maintain than they are worth; however, bankers know that consumers are creatures of habit and hope that the young people they serve now will become adult customers. These banks recognize A) that operational excellence is an important macro strategy. B) the lifetime value of customers. C) that product excellence leads to loyal customers. D) the importance of making decisions based on short-term results. E) that as long as customers bring in some revenue, costs do not matter.

B) the lifetime value of customers.

As a type of retailer, category specialists offer A) a broad assortment of merchandise B) highly trained personnel throughout the stores C) a narrow but deep assortment of merchandise D) highly attractive loyalty programs E) a limited, but complementary merchandise assortment

C) a narrow but deep assortment of merchandise

32) The first step in the STP process is to A) identify the segmentation methods to be used. B) produce a list of strengths and weaknesses of the firm's past marketing strategies. C) establish the overall strategy or objectives. D) select target markets. E) develop a marketing mix, so that an appropriate segment can later be identified.

C) establish the overall strategy or objectives.

29) Using __________, trained researchers ask questions, listen to and record the answers, and then pose additional questions to clarify or expand on a particular issue. A) questionnaires B) experiments C) in-depth interviews D) primary data mining E) observation

C) in-depth interviews

47) As part of her company's SWOT analysis, Valerie is assessing the company's internal environment, including A) its competition. B) the economy. C) its strengths and weaknesses. D) demographics. E) any opportunities and threats.

C) its strengths and weaknesses.

48) Starbucks is known for understanding its customers. As such, it has developed multiple varieties of products that match the needs and wants of its different market segments. By offering everything from espresso drinks to teas to pastries, Starbucks is engaging in a(n) ______ strategy. A) value-based promotions B) market segmentation C) positioning D) operational excellence E) target marketing

C) positioning

22) 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.

36) The light beer commercial with the slogan "less filling, tastes great" was based on __________ segmentation. A) geographic B) geodemographic C) psychographic D) benefit E) loyalty

D) benefit

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.

30) Charles wants to survey recent customers about the quality of service they received at his small auto service dealership. He has customers' mailing and e-mail addresses. Charles will likely use an online survey primarily because it offers A) relatively low response rates. B) the ability to share video with respondents. C) the ability to ask sensitive questions with anonymity. D) fast responses at a lower cost. E) the opportunity to survey both existing and potential customers.

D) fast responses at a lower cost.

31) What type of interview contains a small group of participants and a trained moderator that guides the conversation? A) panel B) syndicated C) observational D) focus group E) sentiment

D) focus group

37) Ryan wants to sell personal website services to American soldiers in Afghanistan. Because of the difficulty of communicating with people in a war zone, Ryan may have trouble with this segment not being A) substantial. B) perceptive. C) identifiable. D) reachable. E) quantifiable.

D) reachable.

35) To develop psychographic segments, the marketer must understand consumers' A) age, income, and education. B) gender, race, and religion. C) disposable personal income, benefit perceptions, and alternative egos. D) self-values, self-concept, and lifestyles. E) buying patterns and behaviors.

D) self-values, self-concept, and lifestyles.

26) Andy likes gourmet popcorn and will spend time trying to find his favorite brand. His brother, Joaquin, loves popcorn but doesn't care about brands. For Andy, popcorn is a ________ good while for Joaquin it is a ________ good. A) shopping; specialty B) convenience; shopping C) convenience; specialty D) specialty; convenience E) unique; universal

D) specialty; convenience

The diffusion of innovation theory focuses on A) the geographic boundaries of innovation. B) the relationship between pioneer brands and imitators. C) the psychological traits of innovators. D) the rate at which consumers are likely to adopt a new product or service. E) the way a product moves through the product life cycle.

D) the rate at which consumers are likely to adopt a new product or service

Supercenters are large stores that combine a supermarket with a full-line discount store. _______ dominates this category with the vast majority of super centers in the United States. A) Target B) Meijer C) Kmart D) Kroger E) Walmart

E) Walmart

44) If McDonald's wanted to change its marketing strategy in response to the social trends outlined in the text, it might consider all of the following ideas except A) offering an expanded menu of healthy options. B) making nutritional information readily available to consumers. C) using recycled paper in its food packaging. D) using solar power in its restaurants. E) creating an advertising campaign targeting elementary schoolchildren

E) creating an advertising campaign targeting elementary schoolchildren

41) Typical demographic data include all of the following except A) gender. B) income. C) race. D) education. E) language differences.

E) language differences.

34) Demographic segmentation is segmentation based on all of the following except A) age. B) gender. C) education. D) income. E) lifestyle.

E) lifestyle.

38) Successful firms focus their efforts on satisfying customer needs that A) are easiest to satisfy. B) provide minimal core value. C) are important to all generational cohorts. D) competitors have tried and failed to satisfy. E) match their core competencies.

E) match their core competencies.

20) In the product development process, what takes place between concept testing and market testing? A) securing financial backing B) conducting marketing research C) brainstorming D) determining potential ROI E) product design

E) product design

49) Suppose your university made a sizable investment in its career services—additional counselors, increased efforts to bring in recruiters, and other services aimed at helping students find jobs. This investment would enhance the university's __________ in an attempt to create value for students and recent graduates. A) segmentation strategy B) place strategy C) locational excellence strategy D) diversification strategy E) product value

E) product value

Approximately half of marketers use social media tools for their businesses.

False, 99%

The four P's of the marketing mix are product, promotion, planning, and place.

False, price

Key to success of many entrepreneurs is that they launch ventures that aim to satisfy unfilled needs.

TRUE

Buffalo Wild Wings suggests that its diners check in to its locations using their phones. This demonstrates the use of social and mobile media to connect better with their customers.

True

Garage sales and online classified ads are examples of C2C marketing.

True

In their battle for chocolate lovers, Godiva and Hershey's must divide the population into different categories of consumers, for example, luxury versus cost-conscious, those looking for a energy boost versus those looking for a gift for a loved one.

True

Margo always stops at Starbucks for her morning coffee. Not only is there a Starbucks Drive-Thru on her way to work, there is also a small kiosk in the lobby of her office building. Starbucks is using the place element of the marketing mix to influence its customers.

True

The power adapters that Dell sells with its computers are built by small companies that specialize in power-related accessories. When Dell purchases its power adapters from these small companies, it is engaging in B2B marketing.

True

Understanding the marketplace and especially a consumer's needs and wants, is fundamental to marketing success.

True

When apple makes innovations compatible with its existing products, it is encouraging consumers to maintain long-term relationships with the company.

True