MKT 333 EXAM #1 CHP 1-5

Despite its vivid design, the website for Lolly's Bookstore did not seem to attract customers who lingered. In fact, most website visitors left the site before they made a purchase. Which measure does the owner need to address? a) sentiment analysis b) page views c) mobilization rates d) keyword analysis e) bounce rates

e) bounce rates

Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following except... a) performance b) place c) price d) promotion e) product

a) Performance

The 4E framework of social media includes... a) expand, engage, educate, emphasize b) excite, educate, experience, engage c) expect, emphasize, educate, engage d) excite, educate, entertain, engage e) emphasize, excite, educate, engage

b) excite, educate, experience, engage

Samantha is charged with assessing her company's external environment as part of a SWOT analysis. Samantha will study her company's... a) strengths and weaknesses b) opportunities and threats c) sales history d) product specifications e) pension plan

b) opportunities and threats

Marketing channel management is also known as... a) endless chain marketing b) supply chain management c) wholesaling d) production management e) a transactional orientation

b) supply chain management

The centerpiece of the marketing environment analysis framework is... a) culture b) corporate partners c) consumers d) the economy e) competitive intelligence

c) consumers

After identifying various market segments that her company could pursue, Lisa evaluated each segment's attractiveness based on size, income, and accessibility. Lisa was involved in... a) positioning b) market penetration estimation c) target marketing d) situation analysis e) diversification

c) target marketing

LinkedIn is an example of what type of social media site? a) media sharing b) corporate blogging c) photo sharing d) social networking e) thought sharing

d) social networking

Typical demographic data include all of the following EXCEPT... a) language differences b) gender c) income d) education e) race

a) language differences

In 2006, Ford Motor Company announced it would severely cut back its automobile production. For parts companies supplying Ford its parts, this represented a(n)... a) threat b) strategic plan c) weakness d) strength e) opportunity

a) threat

One of the goals of value-based marketing is... a) to offer greater value than competitors offer b) to sell to all consumers, regardless of their needs c) to sell products for the highest possible price d) to provide the greatest value for the least profit e) to determine the value of the brand

a) to offer greater value than competitors offer

When marvel launched several successful series on Netflix, including Jessica Jones, Daredevil, Iron Fist, and Luke Cage, it employed a ____________ strategy. a) customer development b) product development c) market development d) diversification e) market penetration

b) product development

The firms that work along with the other firms to provide goods and services to consumers are viewed as... a) customers b) cultural cohorts c) corporate partners d) cartels e) cooperativeness

c) corporate partners

When retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts it is considered _______________ marketing. a) C2B b) R2C c) C2C d) B2C e) B2B

d) B2C

When Toyota owners began to report problems with sticking accelerator pedals and non-functioning brakes, Toyota at first ignored or rejected the claims. Eventually, the company evaluated the issue and did a recall. Which of the four steps of the Ethical Decision-Making Framework was Toyota performing when it recalled several of its 2007-2010 models? a) asses risk b) identify issues c) choose a course of action d) gather information and identify stakeholders e) brainstorm and evaluate alternative

c) choose course of action

One important measure of social media's effectiveness is the percentage of site visitors who take the action the site owner hoped for—making a purchase, subscribing to a service, or donating money, for example. This measure is called the site's... a) extended network b) hits c) conversion rate d) bounce rate e) click paths

c) conversion rate

YouTube is an example of what type of social media site? a) thought sharing b) social networking c) social bookmarking d) microblogging e) media sharing

e) media sharing

As part of her company's SWOT analysis, Valerie is assessing the company's internal environment, including... a) the economy b) opportunities and threats c) demographics d) competition e) strengths and weaknesses

e) strengths and weaknesses

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged? a) segmentation b) opportunities and threats c) demographics d) competition e) strengths and weaknesses

e) strengths and weaknesses

___________ provides a detailed, multi pronged "Statement of Ethics" that can serve as a foundation for marketers. a) The American Marketing Association b) Johnson & Johnson c) The advertising association of America d) A group of well-respected marketing executives e) The Better Business Bureau

a) The American Marketing Association

Southwest Airlines operates a blog called Nuts About Southwest. A group of employees share the responsibility for posting items of potential interest to customers- for example, short videos about southwest's travel destinations, articles (with photos) about special events, and news about airline promotions. Nuts About Southwest is an example of a ... a) personal blog b) social blog c) corporate blog d) professional blog e) network blog.

c) corporate blog

For every consumer who purchases a pair of TOMS shoes for $55.00, the company promises that a needy child will receive a pair of shoes. TOMS shoes is actively engaging in... a) business ethics b) environmental marketing c) corporate social responsibility d) marketing ethics e) overpricing of its products

c) corporate social responsibility

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... a) manipulating the public sentiment for its own benefit b) practicing marketing ethics c) demonstrating corporate social responsibility d) creating a local ethical business climate e) falsifying the company's finances through charitable donations.

c) demonstrating corporate social responsibility

All of the following terms are generally associated with the definition of corporate social responsibility except... a) environmental impact b) social impact c) profit d) voluntary e) stakeholders

c) profit

Marketers must determine the price of a product carefully, based on potential buyers' beliefs about... a) the product's new advertising campaign b) the environment c) the cost to manufacture the product d) its value e) the economic outlook

d) its value

Imagine that you are in a convenience store choosing your favorite "comfort" food instead of being in a classroom taking this test. You might notice the packaging, colors, labels, even the fonts used on labels. All of these efforts are part of the marketer's ... a) value-based promotion b) customer excellence strategy c) target marketing d) positioning strategy e) market segmentation

d) positioning strategy

In New England, foot-long sandwiches are called "grinders," while in many other parts of the country they are called "subs." This is an example of the impact of... a) social trends b) country culture c) generational factors d) regional culture e) regulatory factors

d) regional culture

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. a) bankers b) corporate shareholders c) investors d) stakeholders e) marketing executives

d) stakeholders

New real estate disclosure regulations require sellers and their agents to tell prospective buyers about any existing problems. Previously, they were only expected to answer buyers' questions. The new regulation addressed the marketing ethical problem of... a) deceptive pricing tactics b) high-pressure sales techniques c) misleading advertising d) withholding information e) misrepresentation of company data

d) withholding information

The basic difference between a good and a service is that a good... a) generates greater interest among consumers b) is always less expensive than a corresponding service c) is more quickly forgotten by consumers d) provides intangible benefits e) can be physically touched

e) can be physically touched

Which of the following is a core aspect of marketing? A) Creating a product that everyone will want to buy B) increasing company's profits C)setting prices lower than all competitors D)Satisfying as many needs as possible E) Making product, place, promotion, and price decisions

E) Making product, place, promotion, and price decisions.

Trina is developing a marketing campaign for an organic stain-removal product. As "stain removal" is rather dull, she is trying to educate consumers about the value and uniqueness of the product, and appeal to the environmentally conscious. Which of the following is the BEST social media application for this task? a) blog b) YouTube c) Instagram d) Google+ e) LinkedIn

b) youtube

The fundamental goal of marketers when creating goods, services, or combinations of both is to... a) stimulate short-term sales b) serve all consumers c) operate according to government regulations d) create value e) defeat the competition

d) create value

When Ramona, the keynote speaker at a major business leaders' conference, arrived in the middle of the night at the Ritz-Carlton, she was exhausted and her suit was wrinkled from her 10-hour plane trip. The night clerk found someone to dry clean Ramona's suit and have it ready for her morning presentation. She has been a loyal Ritz-Carlton customer ever since. In this example, Ritz-Carlton demonstrated the macro strategy of... a) customer excellence b) promotional excellence c) operational excellence d) global excellence e) product excellence

a) customer excellence

The __________ for natural skin care company Burt's Bees is to "create natural, Earth-friendly personal care products formulated to help you maximize your well-being and that of the world around you." a) mission statement b) executive summary c) financial plan d) company description e) market analysis

a) mission statement

______________ is communication by a marketer that informs, persuades, and reminds potential buyers about a product or service so as to influence their opinions and elicit a response. a) promotion b) value cocreation c) pricing d) a relational orientation e) placement

a) promotion

The shared meanings, beliefs, morals, values, and customs of a group of people constitute their... a) generational cohorts b) religion c) social concerns d) demographics e) culture

e) culture

One measure of traffic from visitors on sites, the total requests for a page, is measured in units called... a) tweets b) clickers c) paths d) impressions e) hits

e) hits