Marketing Test 2

As a result of the escalating use of digital media, some of the marketer's control over dispensing product information has been placed Select one: a. in the hands of the consumer. b. in the hands of the stockholders. c. in the hands of the company's competitors. d. under the authority of the government. e. in danger.

in the hands of the consumer

When charitable organizations such as the American Cancer Society, Second Harvest Food Bank, and the Red Cross make purchases for goods and services to use in their daily operations, they would be considered to be _______ buyers. Select one: a. corporate b. reseller c. producer d. institutional e. government

institutional

Eighteen-year-old students do not form a market for alcoholic beverages because they Select one: a. lack the money to purchase this type of product. b. do not have sufficient experience with this type of product. c. lack the authority to purchase this type of product. d. do not want to purchase this type of product. e. lack sufficient buying power to form a market.

lack the authority to purchase this type of product.

Walgreens has set up a website that enables customers to converse with the company and communicate their needs and wants. This is an example of a(n) ____ website. Select one: a. addressable b. interactive c. linked d. controlled e. accessible

interactive

Which of the following sales forecasting techniques would generally be most suitable for estimating sales of a new product? Select one: a. Regression methods b. Customer surveys c. Executive judgment d. Market tests e. Time series analysis

Market tests

Which of the following variables would most likely be used to segment a business market? Select one: a. An attitude of the company's CEO b. Net income generated by the company c. The lifestyle of the company's buying agent d. Common opinions of the company's employees e. The geographic location of the company

The geographic location of the company

____ refers to customers' ability to regulate the information they view and the rate and sequence of their exposure to that information. Select one: a. Interactivity b. Accessibility c. Connectivity d. Control e. Addressability

Control

Cognitive dissonance is most likely to occur during which part of the decision-making process? Select one: a. Purchase b. Postpurchase evaluation c. Problem recognition d. Information search e. Evaluation of alternatives

Postpurchase evaluation

The General Agreement on Tariffs and Trade was initially implemented to do which of the following? Select one: a. Prevent the dumping of products into developing countries b. Merge the United States, Canada, and Mexico into a single market c. Promote free trade among members by eliminating trade barriers and educating individuals, companies, and governments about trade rules across the world d. Reduce worldwide tariffs and increase international trade e. Provide loans to countries to build up their infrastructure and increase economic opportunities

Reduce worldwide tariffs and increase international trade

The University of North Carolina and the University of Illinois at Urbana-Champaign both offer online MBA programs that are available to students around the world. This is an example of Select one: a. customization. b. nationalization. c. globalization. d. regionalization. e. licensing.

globalization

Aaron Mahnke is the host of Lore, which posts true life scary stories biweekly. Users love Lore because they enjoy listening to scary stories. Marketers like Lore because they can sponsor content and become affiliated with this popular show. Users can access Lore by going onto the site and accessing the audio content, or they can subscribe through Stitcher and receive new content automatically. Lore is most likely a Select one: a. virtual game. b. podcast. c. video sharing site. d. widget. e. social network.

podcast

Individuals and business organizations that purchase products for the purpose of making a profit either by using the products to produce other products or by using them in their operations are classified as ____ markets. Select one: a. institutional b. reseller c. producer d. consumer e. government

producer

______________ was established in 1967 and promotes trade and economic integration among member nations in Southeast Asia. Select one: a. GATT b. ASEAN c. APEC d. WTO e. MERCOSUR

ASEAN

Which of the following statements about the undifferentiated targeting strategy is false? Select one: a. The undifferentiated targeting strategy uses multiple distribution systems to best reach individuals in the target market. b. The opposite of the undifferentiated targeting strategy is the differentiated targeting strategy. c. The undifferentiated targeting strategy uses one promotional program aimed at everyone in the target market. d. The undifferentiated targeting strategy is good for use with staple items, such as sugar and salt. e. The undifferentiated targeting strategy should be used when the needs of individual customers are similar.

The undifferentiated targeting strategy uses multiple distribution systems to best reach individuals in the target market.

Alex works for a manufacturer of sports equipment and is currently developing a company sales forecast for golf clubs. While reviewing data, he discovered a pattern in sales volume over the past ten years that peaked during two months of each year. Alex likely used which sales forecasting technique? a. Time series analysis b. Regression analysis c. The Delphi technique d. Executive judgment e. Market tests

Time series analysis

If a large proportion of customers in a total market have similar product needs and the company has the resources to develop a marketing mix to satisfy them, which targeting strategy would be effective? Select one: a. Differentiated strategy b. Positioning strategy c. Segmented strategy d. Undifferentiated strategy e. Concentrated strategy

Undifferentiated strategy

Due to the use of cookies, many websites are able to track visitors when they return to their websites. This helps them track how often the visitor views the website and in what products he or she shows an interest. Some websites have capitalized on this by providing product recommendations to users when they return to their websites based on their past activity. This is an example of Select one: a. accessibility. b. connectivity. c. interactivity. d. addressability. e. control.

addressability

A business advantage of the concentrated targeting strategy for any company is that it Select one: a. allows a firm to develop a special marketing mix for a single market segment. b. allows a firm to utilize all of its production capacity. c. requires less market research and information. d. maintains the firm's flexibility in moving into other market segments. e. requires less intensive analysis of customers' characteristics and needs.

allows a firm to develop a special marketing mix for a single market segment.

The car-related website and media company, Edmunds, provides reviews and ratings of vehicles and is well respected by individuals in the car industry as a neutral source. Consumers appreciate its advice and information and know they can trust Edmunds for non-biased information. In addition to its own website and magazine, Edmunds is using the ________ Pinterest to post photos and links to recent articles as well as answer questions posed by members of Pinterest. Select one: a. blog b. bulletin-board site c. podcast d. media-sharing site e. wiki

bulletin-board site

Cube Company sells small refrigerators. It usually sells these refrigerators to hotels and offices. However, sometimes its customers choose to buy their refrigerators because they do not have a lot of room for a full-size refrigerator in their houses and apartments. Its primary market is a(n) _____________ market, but it also sells to a(n) _____________ market. Select one: a. business; consumer b. business; demographic c. business; industrial d. consumer; business e. industrial; target

business; consumer

When shopping for detergent, Dylan looks at Arm & Hammer, Gain, Method, and Cheer and chooses the one that is on sale. These four brands make up his ____ set. Select one: a. problem b. purchase c. alternate d. consideration e. imposed

consideration

Gabrielle is a retailing and consumer sciences major and plans to pursue a career in fashion design. She enjoys setting the trends for her friends and owns approximately 50 pairs of shoes. She loves shopping for shoes on Zappos, a popular online retail store that is a subsidiary of Amazon. Zappos offers millions of styles of shoes, but Gabrielle can simplify her search through the use of filters. She can filter the search by style, color, material, brand name, and heel height in order to reduce the number of shoes that appear in the search results. Zappos is taking advantage of _____, one of the characteristics of online media. Select one: a. interactivity b. addressability c. accessibility d. control e. connectivity

control

One of the most important benefits of e-marketing is the ability of marketers and Select one: a. government regulators to share information. b. customers to share information. c. vendors to share resources. d. customers to obtain digital information. e. competitors to share information.

customers to share information

The feasibility and degree of globalization is determined by the Select one: a. degree of similarity among the various environmental and market conditions. b. degree of commitment by local managers. c. culture of the nation. d. degree of adoption of Western culture. e. laws of the nation.

degree of similarity among the various environmental and market conditions.

After purchasing a product, postpurchase evaluation may result in cognitive dissonance. Cognitive dissonance is Select one: a. dissatisfaction with the purchase. b. the establishment of criteria for comparing products. c. doubts that occur because the buyer questions whether the decision to purchase the product was right d. a function of the manner in which the manufacturer of the product describes its attributes. e. the congruence between external and internal searches for product information.

doubts that occur because the buyer questions whether the decision to purchase the product was right

Due to increasing consumer demand, many television networks are creating ____ of their shows. Select one: a. imitations b. virtual realities c. digital characters d. wikis e. podcasts

podcasts

One of the guaranteed constants in the global business environment is Select one: a. tariffs. b. taxes. c. war. d. instability. e. nationalism.

instability

The attitude toward the object model (known as the Fishbein model) consists of which three elements? Select one: a. Beliefs about product attributes, the strength of beliefs, and the evaluation of beliefs b. Intentions, beliefs about product attributes, and what others think c. Selecting, organizing, and interpreting information inputs d. Perception, motivation, and beliefs about product attributes e. Safety, social, and self-actualization

Beliefs about product attributes, the strength of beliefs, and the evaluation of beliefs

Which of the following is NOT an example of a producer market member? Select one: a. Buyers of services used for their operations of their organizations b. Buyers of finished products that intend to resell them for a profit c. Buyers of semifinished items used to make other products d. Buyers of raw materials e. Buyers of finished items used to make other products

Buyers of finished products that intend to resell them for a profit

A targeting strategy in which an organization targets a single market segment using one marketing mix is called a(n) ____ strategy. Select one: a. differentiated b. selective c. concentrated d. undifferentiated e. focused

Concentrated

Comcast uses a segmentation strategy for its cable TV packages based on market characteristics such as age, gender, or income. Which of the following category of segmentation variables is Comcast using? Select one: a. Product-related b. Behavioristic c. Geographic d. Demographic e. Psychographic

Demographic

Joann and Rachel are searching for an apartment. They will most likely engage in which one of the following forms of decision making? Select one: a. Routinized response behavior b. Limited decision making c. Extended decision making d. Impulse buying e. Intensive response behavior

Extended decision making

Management at More Hands Maid Service is concerned that it maintains a high level of service for its business accounts. How should the firm monitor the level of service these customers receive? Select one: a. Specify service uniformity. b. Develop a code of service. c. Formally survey customers. d. Stress truthfulness with employees. e. Set service objectives.

Formally survey customers

The Alphabet Corporation, best known for its Google search engine, is a prime example of a multinational enterprise. With this in mind, which of the following would most accurately characterize Alphabet's operations? Select one: a. It has operations or subsidiaries in many different countries. b. It would not expect its foreign operations to share the same goals as the parent firm. c. It places most of its emphasis on profits generated in foreign countries. d. It follows a strategy of market globalization. e. It does not concern itself with differences in markets around the world.

It has operations or subsidiaries in many different countries

________ that can allow almost real-time measurement and evaluation should be embedded at the onset of a social media strategy. Select one: a. Strategic performance indicators b. Google Analytics c. Key performance indicators d. Click-through rates e. Hashtags

Key performance indicators

Internet sites that allow users to share photos, videos, and podcasts are called which of the following? Select one: a. Media-sharing sites b. Wikis c. Video-sharing sites d. Virtual sites e. Photo-sharing sites

Media-sharing sites

Brown Dog Cycles creates sleek and modern bicycles for commuters and cycling enthusiasts using the latest materials such as carbon fiber frames. Brown Dog Cycles are relatively expensive, but its urban customers routinely pay $2,000 to $4,000 for the hand-crafted bicycles. The owners are considering expanding their company's footprint outside the United States and are considering opportunities to export its products to Canada and Mexico. They have learned that _______ eliminated virtually all tariffs on goods produced and traded among Canada, Mexico, and the United States. Select one: a. ASEAN b. NAFTA Correct c. MERCOSUR d. EU e. APEC

NAFTA

Some hospitals in the United States find that their need for radiologists to read X-rays is volatile during the evening and early morning hours, especially between 2:00 and 6:00 a.m. This is because the number of emergency room visits needing X-rays is usually lower than those required during daytime operating hours. There is a recent trend where hospitals in the United States are contracting radiologists from countries such as Australia to read the electronically-transmitted X-rays during the evening and early morning hours. This is an example of Select one: a. outsourcing. b. contract sourcing. c. franchising. d. contract manufacturing. e. licensing.

Outsourcing

Dalip Singh makes an appointment to visit with a new dermatologist in town because of a recent bad sunburn. When he arrives at the dermatologist's office, Dalip notices a foul odor in the air, worn floor coverings, cluttered rooms that have paint peeling from the walls, and poor lighting. However, the other patients in the waiting room were talking about how much they liked the doctor. While Dalip viewed the dermatologist as competent, he decided not to visit him again even though the dermatologist recommended a follow-up. Which situational influences are most likely to have affected Dalip's decision? Select one: a. Antecedent states b. Purchase reasons c. Momentary mood d. Physical surroundings e. Social surroundings

Physical surroundings

Swiss-based Toblerone has taken a global approach to marketing its chocolate products. Which of the following is most easily standardized? Select one: a. Price b. Advertising c. Promotion d. Distribution e. Product

Product

The forces that other people exert on one's buying behavior are called social influences. These come from reference groups and opinion leaders, digital influences, social classes, culture and subcultures, roles, and Select one: a. perception. b. ethnic heritage. c. personality. d. attitudes. e. family.

family

An opinion leader is likely to be most effective under all of the following conditions except when the Select one: a. follower has values and attitudes similar to the opinion leader. b. product details are numerous and complicated. c. follower has high product involvement. d. follower has attitudes and values that are different from those of the opinion leader. e. follower has low product knowledge.

follower has attitudes and values that are different from those of the opinion leader.

Aaron of WP International, a major marketer of word-processing software, calls the administrative assistant of Kimberly, director of purchasing for MMK, Inc. He sets up an appointment to discuss an upcoming purchase of software. The administrative assistant plays the role of ____ in this purchase decision. Select one: a. order giver b. buying center captain c. decider d. gatekeeper e. buyer

gatekeeper

Marketers aiming at business customers, rather than at ultimate consumers, Select one: a. do not need to select target markets. b. have an enormous amount of information available concerning potential customers. c. have more difficulty in determining where their customers are located. d. are restricted in the types of promotion they can use. e. have more difficulty in estimating customers' purchase potentials.

have an enormous amount of information available concerning potential customers

When a new variety of Envirokids whole-grain breakfast cereals is first introduced, consumers will most likely engage in ____ when deciding whether or not to purchase this new product. Select one: a. automatic processing behavior b. situational decision making c. routinized response behavior d. extended decision making e. limited decision making

limited decision making

Capitol Supply's sales and sales force have continued to expand. Now, the firm plans to add a fleet of company cars as part of its sales compensation package. For Capitol Supply, these vehicles would represent a ____ purchase. Select one: a. reevaluated b. straight rebuy c. new-task d. modified rebuy e. reciprocal rebuy

new-task

The five major stages of the consumer buying decision process, in order, are Select one: a. problem recognition, purchase, evaluation of alternatives, postpurchase evaluation, and rebuy. b. problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation. c. information search, establishment of product criteria, evaluation of alternatives, purchase, and postpurchase evaluation. d. information search, evaluation of alternatives, purchase, trial adoption period, and postpurchase evaluation. e. problem recognition, information search, evaluation of alternatives, postpurchase evaluation, and purchase.

problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation.

Thanks to the role of the internet in the business buying decision process, interactions with a sales representative now Select one: a. occur much later in the process than in the past. b. rarely occur in the process. c. cost less than in the past. d. occur much earlier in the process than in the past. e. cost more than in the past.

rarely occur in the process

Courtney is a market research analyst for a global consulting firm. She will be traveling to Frankfort next month to present her research to a meeting of company executives from around the world. This presentation could be instrumental in the company's decision of whether she should be promoted at the end of this year. Courtney has been thinking about the trip, which will be the first time she has been out of the country. She has decided to retire her old college luggage for a more professional-looking version and has begun to evaluate various brands. Courtney is most likely facing _____ for this particular purchase. Select one: a. selective retention b. perceptual involvement c. situational involvement d. enduring involvement e. internal retention

situational involvement

Market researchers for a local bakery determined that Jewish people consume 63% of the portion of bagels sold in New York City. This is an example of ____ influence on consumer buying decision processes. Select one: a. subcultural b. demographic c. role d. situational e. social class

subcultural

Wag is a service similar to Uber in that it uses an app and promotes the sharing economy concept. Dog owners can use the app to contact independent contractors, who will travel to the dog's home and take it for walks, usually while the dog's owner is away. Users often pay the dog walkers tips. However, they receive the benefit of not having to worry about their pet getting exercise. This service capitalizes on which variable of the e-marketing mix? Select one: a. Product b. Distribution c. Pricing d. Promotion e. Digital media

Distribution

________ that can allow almost real-time measurement and evaluation should be embedded at the onset of a social media strategy. Select one: a. Strategic performance indicators b. Hashtags c. Key performance indicators d. Google Analytics e. Click-through rates

Key performance indicators

Nucor provides steel for a variety of uses to its various customers. Customers have different needs for the steel, and thus Nucor has to prepare the raw steel differently depending on how customers will use it in their production processes. The primary business segmentation variable in this example is Select one: a. customer size. b. geographic location. c. product use. d. customer importance. e. organization classification.

Product use

Raging Waters is a water park located in San Dimas, California, and typically welcomes 10,000 to 20,000 visitors daily from Los Angeles and nearby cities in Southern California. Raging Waters is known for its coaster-like slides and historically has added one new thrill attraction each season. The company uses its Facebook page to alert followers to the new attraction and typically makes an announcement about the attraction toward the end of the season. During the fall and winter months when the amusement park is closed, the Facebook page may provide updates on the new attraction and provide links to purchase advance tickets or season passes from their website. Which element of the marketing mix is Raging Waters using to generate interest and ticket sales for the park? Select one: a. Social media b. Product c. Price d. Promotion e. Distribution

Promotion

A forecasting method that predicts sales based on relationships between past sales and other variables is called Select one: a. the Delphi technique. b. customer forecasting surveys. c. random factor analysis. d. regression analysis. e. time series analysis.

Regression analysis

If a large proportion of customers in a total market have similar product needs and the company has the resources to develop a marketing mix to satisfy them, which targeting strategy would be effective? a. Segmented strategy b. Concentrated strategy c. Differentiated strategy d. Positioning strategy e. Undifferentiated strategy

Undifferentiated strategy

When organizing perceptual inputs, people tend to mentally fill in missing elements in a pattern or statement. This principle is called Select one: a. distortion. b. framing. c. closure. d. interpretation. e. figure-ground.

closure

The most important feature of apps is Select one: a. the convenience and cost savings they offer to the marketer. b. market share growth. c. the convenience and cost savings they offer to the consumer. d. sales growth. e. scalability.

the convenience and cost savings they offer to the consumer.

Marketers call the internet a pull medium because Select one: a. social networks have great control over the content to which users are exposed. b. they determine which websites consumers are going to view. c. users determine which websites they are going to view. d. they have great control over the content to which users are exposed. e. users get pulled along by social media influencers

users determine which websites they are going to view.

Lil Angels Kids Spa offers various treatments designed to appeal to the younger customer. Treatment options include manicures, pedicures, facials, tea parties, and dress up photos. Parents can even purchase a birthday party package. Currently, Lil Angels offers its services only to girls under the age of 14. Originally begun in Delaware, Lil Angels is considering opening its spa/salons in other parts of the country and is planning to expand its offerings to girls aged 14 to 17. The company realizes that some changes may be needed. For example, management wants to find out if the older girls will be interested in their birthday party and tea party services. Refer to Scenario 6.1. Lil Angels Kids Spa is currently using a(n)____ targeting strategy. Select one: a. concentrated b. selective c. undifferentiated d. differentiated e. exclusive

Concentrated

Peet's Coffee will spend $500,000 marketing its newest latte drink. It expects to sell 1 million of these lattes over the next year. These 1 million lattes are a _____________ for Peet's Coffee. Select one: a. cycle analysis b. sales forecast c. breakdown approach d. buildup approach e. regression analysis

Sales forecast

Our society uses many factors, including occupation, educational level, income, wealth, religion, race, ethnic group, and possessions, to group people into Select one: a. social classes. b. attitudinal segments. c. family types. d. reference groups. e. geographic regions.

Social classes

An organization that decides to buy all of a certain part from the same company is using Select one: a. straight rebuy. b. same vendor analysis. c. multiple sourcing. d. sole sourcing. e. single-supplier purchasing.

Sole sourcing

Assignment of meaning to organized information inputs is called Select one: a. redefinition. b. interpretation. c. selection. d. learning. e. motivation.

interpretation

____ includes any attempt to intentionally conduct dishonest activities online. Select one: a. Digital identity theft b. Racketeering c. Online bribery d. Online spam e. Online fraud

online fraud

Albatross Publishing sought to reduce expenditures related to the printing of books in its trade and educational market and contracted with a printing company in China. However, the publishing company soon realized that China has weak enforcement of intellectual property laws and that gray market books began appearing in the marketplace, which greatly affected Albatross's profits. The company found that it had little recourse against the contract manufacturer and learned a very difficult lesson in international marketing. This exemplifies the impact of _______ forces on international business. Select one: a. sociocultural b. technological c. competitive d. ethical and social responsibility e. political, legal, and regulatory

political, legal, and regulatory

Inelastic demand in business markets refers to a situation where Select one: a. demand for a given product fluctuates significantly over time. b. supply for a given product cannot keep pace with the demand for it. c. price increases or decreases will not significantly change demand for a given product d. demand for one product depends heavily on the demand for another product. e. demand for a given product fluctuates very little over time.

price increases or decreases will not significantly change demand for a given product

Xavier loves Chipotle Mexican Grill. He loves the food and views it as being socially responsible. The other day he read in the paper that several people got sick from E. coli from Chipotle Mexican Grill restaurants. The article also detailed safety measures Chipotle was instituting to prevent this from happening again. Xavier would expect nothing less from Chipotle. He feels confident that Chipotle will institute highly effective safety measures. This is most likely an example of Select one: a. selective perception. b. information analysis. c. selective retention. d. selective distortion. e. perceptual selection.

selective retention

People's needs to grow, develop, and achieve their full potential are referred to by Maslow as ____ needs. Select one: a. self-actualization b. ego c. social d. esteem e. safety

self-actualization

Market segment profiles are used to describe _____________ members of a market segment, and to explain ______________members in separate market segments. Select one: a. differences between; similarities among b. preferences among; preferences among c. differences between; differences between d. similarities among; similarities among e. similarities among; differences between

similarities among; differences between

Cynthia is considering the purchase of a new printer for her real estate office. She is considering a printer that doesn't have as many functions but is available at a considerably lower price than her current printer. She is engaged in ____ analysis. Select one: a. value b. profit c. downsizing d. vendor e. strategic

value

Raging Waters is a water park located in San Dimas, California, and typically welcomes 10,000 to 20,000 visitors daily from Los Angeles and nearby cities in Southern California. Raging Waters is known for its coaster-like slides and historically has added one new thrill attraction each season. The company uses its Facebook page to alert followers to the new attraction and typically makes an announcement about the attraction toward the end of the season. During the fall and winter months when the amusement park is closed, the Facebook page may provide updates on the new attraction and provide links to purchase advance tickets or season passes from their website. Which element of the marketing mix is Raging Waters using to generate interest and ticket sales for the park? Select one: a. Social media b. Promotion c. Product d. Distribution e. Price

Promotion

Rockabye Baby is a boutique that sells luxury baby items. It is located in Los Angeles. The owner has been highly successful over the years and has decided to open another store in San Diego. However, sales at this store have been low. The owner asked a marketing consultant for advice about what went wrong. The consultant says the location is not ideal for the market. The owner located his store in a high-income area, but most of the people in the area are singles or retired couples. Instead, the owner should have used ____________ to identify an area of the city with higher-income neighborhoods characterized by couples who want only the best for their newborn babies. Select one: a. behavioristic segmentation b. benefit segmentation c. family life cycle d. geodemographic segmentation e. demographic segmentation

geodemographic segmentation

Amos works as a manager in the marketing department of a pharmaceutical firm. The time has come to develop sales forecasts for the next year. This year the company wants to increase the reliability of the sales forecast. Amos was asked to participate in this process because of his extensive market knowledge. He joins a group of other experts in the area. Individuals in Amos's group all submit their own forecasts. These forecasts are then averaged, and the results are given back to the group so they can refine them. The intent is to reach a consensus by working separately on these forecasts. What type of forecasting technique is this? Select one: a. Executive judgment b. Time series analysis c. Random factor analysis d. Delphi technique e. Regression analysis

Delphi technique

In your market research into the buying behavior of a target market, you have confirmed that members of the group do in fact exhibit varying levels of involvement when buying certain products. For example, you confirmed the group has a __________ level of involvement when they are purchasing cars and clothing. When they are shopping for groceries, they exhibit a __________ level of involvement. Select one: a. low; enduring b. low; high c. high; enduring d. enduring; high e. high; low

high;low