marketing midterm quizzes

Makenna, the outside sales rep for a brick and stone company, reads a report stating that building permits are down dramatically in her sales territory. She had noticed that things were slowing down, but now she has data confirming her impression. Based on this information, Makenna will help her company become more value-driven if she

advises the production and purchasing departments to produce or order smaller quantities of products.

Leanne is considering a career in marketing. She is concerned about the image of marketers as fast-talking, high-pressure people who care only about making a sale. When reading about the core aspects of marketing, Leanne is pleased to see that in marketing

all parties to the transaction should be satisfied.

Which of the following would be considered informational content on a website?

audio

The definition of corporate social responsibility addresses

environmental impact.

New real estate disclosure regulations require sellers and their agents to tell prospective buyers about any existing problems with the property. Previously, they were expected only to answer buyers' questions. The new regulation addressed the marketing ethics problem of

withholding information.

Most banks implement customer retention programs aimed at their best customers. They do this because they know that retaining customers usually results in

increased long-term profits.

Learn to Go sells its foreign language dictionaries to college students throughout the United States. Samuel Marcus, the owner, wants to start selling these products to international students abroad. Marcus wants to pursue a ________ growth strategy.

market development

Andy decides to add new sales representatives and increase advertising to increase sales in her existing market for her current line of security systems. Andy is pursuing a ________ growth strategy.

market penetration

Starbucks carefully crafts its offerings and advertising message, and it strategically sets prices and selects locations to appeal to its target market. These efforts represent Starbucks'

positioning strategy.

Raoul is giving his wife a Hermès wallet for her birthday. It cost $2,000, but Raoul thinks this is a very fair value. Value here means that

the product meets his needs and is offered at a price that is a fair value.

Subway is a large chain of franchise sandwich shops. Elgin owns three Subway stores in a large city. At the end of the year, he notes that sales rose from 2 to 5 percent over last year's sales at Stores 1 and 2 but fell 2 percent at Store 3. Based on this information, which of the following is the best course of action as to how Elgin should reward (or punish) his store managers?

He should seek more information about why the stores had different results before making a decision.

A competitive advantage based on location is often sustainable because

it is not easily duplicated.

As it pertains to the marketing plan, understanding the causes of performance, regardless of whether that performance exceeded, met, or fell below the firm's goals

enables firms to make appropriate adjustments.

It is not unusual to see firms offering free product samples in grocery stores to let customers try the product before buying it. Similarly, in today's world of digital marketing, one can read a chapter of a book before buying it or watch YouTube videos on different ways to use a product. All of these scenarios are aimed at which aspect of the 4E framework?

experience

By promoting jeans based on youth, style, and quality, Levi's is attempting to

increase the perceived value of its products.

Firms that hire (or encourage) well-known names to promote brand messages to their networks of followers are using

influencer marketing.

Francine, the delivery and sales representative for a wine distributor, is calling on a retailer and sees the shelves are almost empty. An unexpected home and table event held nearby resulted in a huge increase in sales. She calls her company's distribution manager and requests a special delivery for her customer. Francine is providing the important marketing function of

supply chain management.

When Walmart pressured its vendors to supply it with environmentally friendly merchandise with labels to prove it, this effort most relates to the concept of

sustainability.

The decision-making metric includes

the publicity test.

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes

the value of their time and energy.

Apps like calendars, trip planners, and flight trackers help consumers fulfill which primary motivation?

to prepare

Tenisha sells consumer electronics. She knows her customers weigh the costs versus the benefits associated with the different options available. Tenisha decides which products to offer and what prices to charge based on the way her customers think. Tenisha operates as if she was in the ________ era.

value-based marketing

________ are free to download, but appear as ads on the screen; they generate revenue while users interact with the app.

Ad-supported apps

Which of the following is the most powerful and influential online marketer in the United States?

Amazon

Retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts. When they sell to consumers, it is considered ________ marketing.

B2C

________ entails a sense of purpose for the firm that is higher than simply making a profit by selling products and services.

Conscious marketing

Customer retention programs are based on what concept?

Customer relationships should be viewed from a lifetime value perspective rather than on a transaction-by-transaction basis.

Which of the following factors, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of an opportunity?

Recent consumer studies have indicated that Chinese consumers prefer American cars

________ allow marketers to analyze data from content sites like Facebook, Twitter, online blogs, and reviews to collect consumer comments about companies and their products.

Sentiment analysis

Which of the following statements reflects the philosophy of the market-oriented era?

The customer is king.

In the ethical decision-making metric, the question that asks, "Would I want the person I admire most to see me doing this?" applies to the

admired observer test.

Coca-Cola relies on _________ technology to offer their customers a free Coke at the moment they walk through a movie theater.

beacon

Which of the following descriptions embodies conscious marketing principles?

both ethically and socially responsible

The type of influencer that has a large following and is widely recognized is usually known as a ________ influencer.

celebrity

When Volkswagen owners began to report problems with rear coil springs, Volkswagen at first ignored or rejected the claims. Eventually, the company evaluated the issue and issued a recall. Which of the four steps of the ethical decision-making framework was Volkswagen performing when it recalled several of its models?

choose a course of action

What effect of social media engagement is achieved when individuals post a picture to Instagram, upload a video to YouTube, or share a link to an article they have liked on Facebook?

connected effect

When marketers work in controversial or polluting industries such as tobacco or fossil fuels, their central activities largely bar them from becoming

conscious marketers.

The principle that decisions be ethically based is part of the concept of

conscious marketing.

When integrating conscious marketing into a marketing strategy, a key task is to ensure that all managers are evaluated on their actions from a conscious marketing perspective. This action would take place during which stage of the strategic marketing planning process?

control phase

A ________ can educate customers when discussing their products or services and create excitement when they promote special offers.

corporate blog

American Express Open Forum site invites business experts to share their wisdom in various posts. This is an example of what type of blog?

corporate blog

A local hair salon keeps information on its customers regarding their preferences for certain products, companies, and services. The salon uses this information to inform the customers when new products arrive from their favorite companies and targets them with special promotions. In this way, the salon is using ________ to build loyalty among its customers.

customer relationship management

Walmart donates more than $1 billion in cash and in-kind items to charitable causes every year. This form of social responsibility most directly impacts

customers.

Ironically, while the leaders of Enron Corporation were manipulating the company's finances for their personal benefit, the company was a major donor to Houston area charities. Enron had unethical business practices but was also

demonstrating corporate social responsibility.

Cheng is asked to conduct an STP analysis for his firm. The first step he should perform in this analysis is to

divide the marketplace into subgroups.

Dream Home Solutions has been a successful small home-remodeling firm for years. The owner pays subcontractors slightly more than the usual rate for different tasks, reducing the company's gross margin. Dream Home rarely changes subcontractors, has relatively few complaints from home buyers, and is able to get quick responses from subcontractors when buyers do have problems. Dream Home is engaged in

effective supply chain management.

Many corporations are shifting from defined benefit to defined contribution retirement programs. When considering changes to retirement programs, the primary stakeholders are the

employees.

When firms successfully implement poor strategies (perhaps due to good luck) or do a poor job of implementing good strategies, it can be difficult to

evaluate performance and make adjustments.

Matthew has been asked to approve a marketing campaign that, although it is not illegal, promotes food products to children. He is concerned that the food products are not particularly nutritious, although they are not as bad for children as some others sold by competitors. By using the ethical decision-making metric, Matthew will

evaluate the alternative using a series of questions.

Best Buy provides their loyal customers with a relevant coupon based on previous purchases through their mobile phone, while they are in the store. This represents the _____ aspect of the 4E framework of digital marketing.

excite

The three-stage process that firms use to engage customers through social, online, and mobile media involves

listening, analyzing, and doing.

The final step in the process of creating a digital marketing campaign is to

monitor the program.

The most loyal customers use

multiple channels.

Gracie loves to read and write. She started a blog about young adult books, including writing hints and book reviews. The readership of her blog gradually increased, and eventually publishers started sending her new books, hoping she would review them. Over time, Gracie's blog has changed from a __________ blog to a __________ blog.

personal; professional

Creative locations, such as kiosks at the baggage claim in airports or small booths in grocery stores, represent Starbucks' effort to improve its offering on which dimension of the marketing mix?

place

Internet sites, physical stores, and kiosks are most closely associated with which element of the marketing mix?

place

Which element of the marketing mix deals with supply chain management?

place

Delta Airlines is among the companies experimenting with selling products and services on their Facebook pages. The idea is to make purchasing even easier for customers who may spend large portions of the day with Facebook active on their computers or mobile devices. There is no need even to navigate to Delta's website—users can book a trip in Delta's "Ticket Agent" application without ever leaving Facebook. Which element of the marketing mix does this represent?

place and value delivery

If Martine decides to sell the best ice cream on earth, and intends to establish a strong ethical climate in her organization, during which phase of the strategic marketing planning process should she introduce ethical considerations?

planning

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged?

planning

What type of analysis does management use to evaluate the firm's various products and businesses and allocate resources according to which products are expected to be the most profitable for the firm in the future?

portfolio analysis

Which of the following is the best way to build a sustainable competitive advantage using product excellence?

positioning the product using a clear, distinctive, desirable brand image

Marvel was among the first content providers to launch dedicated series on Netflix, such as Jessica Jones, The Defenders, Iron Fist, and Luke Cage. It then decided to create a new channel for getting new offerings to consumers. The company was pursuing a(n) ________ strategy.

product development

In most companies, portfolio management is typically done at the SBU or ________ level of the firm.

product line

If a firm adopts a CRM business philosophy, it most likely has a(n) ________ orientation with its customers.

relational

As owner of a retail franchise food store, Elena purchases supplies based on specials advertised nationally throughout the franchise system. One Monday, she was surprised to find customers asking for specials she hadn't been informed of in advance. The franchise company failed to live up to the value-driven activity of

sharing information across the organization.

In a process called _______, a customer visits a store to touch, feel, and even discuss a product's features with a sales associate, and then instantly compares the prices online to see whether a better deal is available.

showrooming

When Walmart issued new standards for livestock products that were raised on food without antibiotics or artificial growth hormones, it considered multiple ________, including the ranchers that supply the food, its customers, and animal welfare groups.

stakeholders

The components of a SWOT analysis are

strengths, weaknesses, opportunities, and threats.

Marketing channel management is also known as

supply chain management.

The wine industry closely watches consumer satisfaction feedback. For years, French wineries consistently had the highest levels of customer satisfaction, creating a(n) ________ for these companies

sustainable competitive advantage

After identifying various market segments that her company could pursue, Shannon evaluated each segment's attractiveness based on size, income, and accessibility. Shannon was involved in

target marketing.

What is the focus of a firm that develops a relational orientation with its customers?

gaining lifetime profitability from customer relationships

Justine offers design and consulting services on a fee-only basis. She has found that different customers are willing to pay different rates for her services. This shows that her pricing decisions should depend primarily on

how different customers perceive the value of her services.

The ethical decision-making framework includes

identify issues.

When designing a digital marketing campaign, the first step is to

identify the strategy and goals for the program.

Vikram's company manufactures industrial ladders. He is concerned that consumers who do not understand ladder safety will purchase these extra-tall ladders and injure themselves. During which phase of the strategic marketing planning process should this issue be addressed?

implementation

Curtis is the new restaurant manager in a major hotel. When considering changes in the restaurant that will increase value to customers, Curtis will likely attempt to either provide the same quality at a lower cost or

improve products and services at the same cost.

When developing a digital marketing campaign, what is unique about the copy and images to be used that is more critical with social media that other forms of IMC?

They need to be updated almost constantly.

Courses of action such as halting the market research project, making responses anonymous, and instituting training on the AMA Code of Ethics for all researchers would be identified during the ________ stage.

brainstorming