MKT 340 Exam-1
An individual who uses his or her smartphone to play Candy Crush Saga is fulfilling which of the seven primary motivations for mobile app usage?
"me-time"
By 2050, minorities will represent about _____ percent of the population, and nearly _____ percent of the population will be Hispanic.
50;30
How does a microblog differ from a traditional blog?
A microblog is smaller in size—short sentences, short videos, or individual images—whereas a traditional blog is typically longer.
Which of the following is the best example of corporate social responsibility affecting the marketplace?
An industry leader adopts environmentally friendly production practices and other companies in the industry follow suit.
Which of the following social media outlets would fall under the category of "thought-sharing sites"?
Anthropologie's blogs
When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in _____ marketing.
B2B
After World War II, the birthrate in the United States rose sharply, resulting in a group known as
Baby boomers
A Major League baseball team wants to reach out to fans in their stadium to offer them seat upgrades. Which technology would you suggest they use?
Beacon
Your text describes the macroenvironmental factors that operate in the external environment by which acronym?
CDSTEP
When Amazon developed a nonprofit Simple Pay Donation system to help nonprofits raise money easily, this was an example of a (an) _______ program.
CSR
Which of the following is the most likely result of inflation?
Consumers will switch to less expensive options for necessities
With regard to the ethical decision-making metric, which of the following questions best represents the transparency test?
Could I give a clear explanation for the action I'm contemplating that would satisfy a fair moral judge?
Because it has been at the center of success for many companies, marketing is considered a cornerstone of
Entrepreneurship
Which of the following social networking sites has more than 1.5 billion monthly active users?
The __________ prohibited the manufacture or sale of adulterated or fraudulently labeled food and drug products
Federal Food and Drug act
Which of the following laws was passed to regulate unfair competitive practices and practices that deceive or are unfair to consumers?
Federal Trade Commission Act
Which of the following is a marketing metric that might be used to evaluate the performance of a company's implementation of its marketing plan?
GM (gross margin)
_____, also known as Millennials, constitutes more than 60 million members in the United States alone and were born between 1977 and 2000.
Gen Y
Individuals born between the years 2001 and 2014 are called
Gen Z
Which group of consumers in the United States has an increasing influence on mainstream U.S. culture with buying power that was projected to reach $1.3 trillion in 2015?
Hispanics
A service is different from a good in that the benefit is
Intangible
Which of the following is true of business ethics?
It examines ethical rules and principles within a commercial context.
Which of the following is true regarding corporate social responsibility?
It is often grafted on to a traditional business model, usually as a separate department or part of PR.
Which of the following is a professional site that is designed to allow users to share information about their professional lives with others, post résumés, network with other professionals, and search for jobs?
Toothpaste manufacturers understand that consumers have different needs when it comes to toothpaste (i.e., teeth whitening, sensitive teeth, breath freshening, and tartar control). Knowing that, they have divided the market based on these various needs and developed toothpaste to accommodate each group. By doing so, these toothpaste manufacturers are involved in
Market segmentation
The ____ addresses how a product will be designed, how much it should cost, how it will be promoted, and how it will get to consumers.
Marketing Plan
Kroger collects massive amounts of data about how, when, why, where, and what people buy, and then analyzes those data to better serve its customers. This refers to
Marketing analytics
Which of the following illustrates how marketing has a direct impact on consumers?
Marketing helps consumers learn about new products and services
The _____ consists of the product, price, place, and promotion of an offering.
Marketing mix
A _______ is a measuring system that quantifies a trend, dynamic, or characteristic and is used by marketers to help explain why things happened and also to predict the future.
Metric
Understanding consumers' _____ is fundamental to marketing success.
Needs and wants
A person who wishes to fulfill the need for "me time" would most likely download which of the following apps?
Netflix
According to your text, which of the following can be said regarding the use of social media in advertising?
Only 20 percent of the world's population uses Facebook—which means 80 percent still has not signed up.
Redbox uses the _____ element of the marketing mix to make movie rentals available for customers when and where they need them.
Place
Which marketing mix element deals specifically with retailing and marketing channel management?
Place
Which of the following marketing mix variables is involved in the capture of value in the marketing exchange?
Price
Which of the marketing mix elements corresponds to what the buyer gives up in the marketing exchange?
Price
A firm that creates value by developing a variety of offerings including goods, services, and ideas is doing so through which element of the four Ps?
Product
The objective of the last step of the ethical decision-making framework is to weigh various alternatives and choose the most appropriate action to take. What action should be taken if the marketer is not confident about that decision?
Reexamine other alternatives
The goal of a marketing exchange is that the parties to the transaction be
Satisfied
Crest toothpaste targets different consumer _____ by offering different types of toothpaste for smokers than it does for children based on their differing needs and wants.
Segments
Showrooming is associated with apps designed to fulfill which primary motivation?
Shop
A national hotel chain engages in conversations with its customers through Facebook and even allows them to book their hotel reservations through its Facebook page. This is an example of marketing using
Social media
Firms that are _______ recognize that including a strong social orientation in business is a sound strategy that is in the best interest of both the firm and its customers.
Socially Responsible
A SWOT analysis involves an analysis of factors internal to the company, which include _____ as well as factors outside the company, which include _____.
Strengths/Weaknesses, Opportunities/Threats
When companies work collaboratively to buy and sell, transport, and store merchandise through a channel of distribution, it involves the entire _____ for goods and services.
Supply Chain
Which of the following represents the best approach for a firm to take regarding ethics and social responsibility?
The firm should implement programs that are socially responsible and employees should act in an ethically responsible manner.
Which of the following statements regarding the development and implementation of a social media marketing campaign is true?
The images and messages used in a social media marketing campaign need to be updated almost constantly.
Although the trend of wealthy households outpacing both poor and middle classes is worldwide, it is particularly prominent in
The united states
Rather than being just a random activity, good marketing requires _____ in determining appropriate actions to produce sound decisions.
Thoughtful planning
Which of the following statements is accurate?
To align personal and corporate goals, firms need to have a strong ethical climate exemplified by the actions of corporate leaders and filtered through an ethically based corporate culture.
Which of the following is an accurate statement about corporate social responsibility?
When marketers work in controversial or polluting industries such as tobacco or fossil fuels, their central activities largely bar them from becoming conscious marketers.
Which of the following questions relates to the Golden Rule Test of an ethical decision-making metric?
Would I like to be on the receiving end of this action?
All of the following questions might be used on an ethical decision-making metric
Would I like to be on the receiving end of this action? Will I be able to look at myself in the mirror and respect the person I see there? Would I want the person I admire most to see me doing this? Would the person I admire the most engage in this activity?
The best corporate blogs illustrate the importance of engaging customers around the core brand tenets without being overly concerned with
a hard sell
What is an entrepreneur?
a person who organizes, operates, and assumes the risk of a business venture
What tool would a marketing executive use to ensure that he or she has applied all relevant decision-making criteria to assess his or her confidence in having come to a decision that respects the rights and dignity of all stakeholders?
an ethical decision-making metric
Now that the oldest ___________ are collecting Social Security, it is clear that this cohort will be the largest population of 50-plus consumers the United States has ever seen.
baby boomers
________ is concerned with distinguishing between right and wrong actions and decisions that arise in a business setting,
business ethics
According to the BCG matrix, which type of product typically has excess resources which can be used to support other products that need additional resources?
cash cows
After a firm has carefully considered all relevant alternatives to address an ethically difficult situation, the next step would be to _____ to bring about the best solution.
choose a course of action
All of the following are included in the ethical decision-making framework
choose a course of action, brainstorm and evaluate alternatives, gather information and identify stakeholders, identify issues
The primary strength of Pepsi is the manufacture, distribution, and promotion of carbonated beverages. These describe which factor of a Pepsi consumer's immediate environment?
company capabilities
Companies must deliver more value and satisfaction to target consumers than its competitors to gain a
competitive advantage
The SWOT analysis is typically conducted during which of the following steps in the marketing planning process?
conducting a situation analysis
Which of the following is one of the core practices among value-oriented marketers?
constantly measuring the benefits that customers receive against the costs of offerings
____________ is (are) at the center of the marketing environment.
consumers
During which phase of the strategic marketing planning process are managers evaluated on their actions from a conscious marketing perspective?
control
Which of the following analytics is used to measure sales, downloads, video plays, or other actions important to a firm?
conversion
Which of the following is not a metric used by social media marketers to analyze data collected from social media?
cookie tracking
Ford Motor Company engages in partnerships with its suppliers, component part makers, unions, transport companies, and dealerships—collectively known as its
corporate partners
If a firm takes voluntary actions to address the ethical, social, and environmental impacts of its business operations, it is involved in
corporate social responsibility
When McDonald's opened its fast-food restaurants in European locations, it had to modify its product offering primarily due to differences in
country culture
Broadly defined, _____ is (are) the shared meanings, beliefs, morals, values, and customs of a group of people.
culture
Singapore Airlines is recognized as an industry leader for exemplary customer service, and has continued to add new ways to serve customers better than competitors. In doing so, it has focused on sustaining its competitive advantage through _____ excellence.
customer
A business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty among the firm's most valued customers is known as
customer relationship management
When the Big Chip company reduced the amount of sugar in its chocolate chip ice cream sandwiches, which stakeholder category was this effort targeting?
customers
When a firm considers its overall objectives and considers the type of business it is in, it is engaged in which of the following steps of the marketing planning process?
defining the mission
What is the fourth step involved in developing and implementing a social media marketing campaign?
develop the budget
A person who has downloaded the Weather Channel app on his or her smartphone to get up-to-the-minute weather information is attempting to fulfill which primary motivation for using a mobile app?
discovery
Which growth strategy is being used when a firm introduces a new product or service to a market segment that is currently not served by the firm?
diversification
General Motors determined that it would close down divisions that were in low-growth markets that had relatively low market shares. According to the BCG product portfolio analysis, GM was identifying divisions in the _____ category for closure
dogs
To ensure that conscious marketing is infused into all levels of the firm, it can be integrated into
each stage of the marketing plan
Which facet of the 4E framework is best addressed by thought-sharing sites?
educate
While shopping online for gardening supplies, Lana visits a website she had heard advertised on Home and Garden Television (HGTV). Although she was not familiar with this particular firm, upon entering its website, Lana was able to learn about the company's value proposition as well as the benefits of their products. As a result, she decided to try out one of the company's most popular products. Which aspect of the 4E framework does this represent?
educate the customer
Which of the following accurately depicts the activities included in the 4E framework for social media?
educate, excite, experience, engage
If successful, marketers utilizing the first three Es of the 4E framework will have achieved the goal of _____ the customer.
engaging
A firm whose employees embrace conscious marketing and which is concerned with only its closest stakeholders is considered to be
ethical but socially irresponsible
Through its Facebook page, a major restaurant chain is offering its customers a Groupon coupon for 50 percent off the purchase of a meal. In doing so, the restaurant is focusing on which aspect of the 4E framework?
exciting
In terms of the 4E framework, a company that utilizes a media-sharing site such as YouTube does so to help consumers
experience the companys good and services
Being able to download a chapter of a new book before buying it, or listening to a few seconds of a song before purchasing it are examples of which aspect of the 4E framework?
experience the product
Apple's iPad is an example of which of the following types of marketing offerings?
goods
When an optical center provides eye exams and new contact lenses as its offering, it is an example of which the following combinations?
goods and services
_____ involves a strategic effort by firms to supply customers with environmentally friendly, sustainable merchandise and services.
green marketing
Frito-Lay's SunChips line of snack foods uses solar power at one of its eight production facilities to harness the sun's energy to produce its products. This is an example of consumer demand for _________ products.
green-oriented
The social trend of _____ is causing consumers to question whether or not firms are truly operating with consideration for the environment or simply changing marketing efforts in order to appear that they are.
greener consumers
Firms that disingenuously market products as environmentally friendly with the goal of gaining public approval and sales, rather than actually improving the environment, are guilty of
greenwashing
Advertising guidelines stating that companies cannot link unhealthy foods with cartoon and celebrity figures is geared toward which social trend?
health and wellness concerns
A group that sponsors bike helmet poster contests for children to promote bicycle safety is providing which of the following marketing offerings?
ideas
Which of the following is one of the major considerations involved when a company develops its marketing strategy?
identification of target markets
When firms are applying an ethical framework for making decisions in a questionable situation, the first step is to
identify issues
After a firm has conducted a SWOT analysis, it would typically progress to the next step of marketing planning which is _______ and involves using STP (segmentation, targeting, and positioning).
identifying and evaluating opportunities
Vashon, a manager at a marketing research firm, is trying to determine if his firm was acting ethically when it conducted its latest study. In doing so, he is evaluating whether or not the research respondents were told the real purpose of the study before proceeding. This involves which step of the ethical decision-making framework?
identifying issues
Which of the following frameworks for analysis is comprised of a company's capabilities, competitors, and corporate partners?
immediate environment
In the _____ phase of the strategic marketing planning process, the tone of decision-making questions is centered on the notion of "should we?
implementation
When a game or app prompts users to make purchases to enhance the app or game, it is referred to as a(n)
in-app purchase
The cost of borrowing money is measured by
interest rates
When a firm evaluates how other companies react to the firm's marketing activities, it is attempting to understand what aspect of the immediate environment?
its competitors
The company that you work for, Mystical Jewelry, wants to analyze data that come from other sites, such as measuring where people have come from to get to Mystical's site. What would you recommend that your company use to determine how people searched the Internet to find its products?
keyword analysis
Which of the following accurately depicts the three-stage social media engagement process?
listen, analyze, do
Culture, demographics, social issues, technological advances, economic situations, and the political/regulatory environment are all factors that make up which of the following frameworks of analysis?
macro-environmental factors
Josie feels pressure to increase sales, so she decides to purposely mark up the price on a new shipment of sweaters and then immediately put them on sale. Even though she is deceiving the customer, Josie justifies her decision by knowing that management will be pleased with the increase in revenue. However, Josie's decision may have serious consequences for the company in the long term. What does your text suggest as a way to avoid the consequences that can result from such behavior?
making sure the short-term goals of each employee are aligned with the long-term goals of the firm
In an attempt to increase sales during a lagging economy, Macy's has increased its advertising and sales promotions for its current products to stimulate sales in its current markets. Which growth strategy is Macy's employing?
market penetration
To evaluate the effectiveness or performance of a marketing strategy, firms typically use
marketing metrics
A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected income statements is referred to as a(n)
marketing plan
Honda marketed its CR-Z hybrid model to a distinct segment of consumers as a fun, green, sporty hybrid that stands out as being uniquely different from other hybrid models. This is an example of which of the following?
marketing positioning
Marriott Hotels recognizes that there are different groups of travelers with different needs, wants, and characteristics in their choice of lodging. The process of dividing Marriott's market into these various groups is
marketing segmentation
Although Starbucks, Dunkin' Donuts, and McDonald's all strive to provide a good cup of coffee and pastries to their respective target markets, the difference in who they target, how they design their marketing mix, and what they choose as the basis of building their competitive advantage is directly related to their own
marketing strategy
Facebook's Ad Manager offers various metrics and reports, such as number of clicks on ads, audience demographics, and ad performance for specific time periods. This information would be used in which step of developing a social media campaign?
monitor and change
During the last couple of decades, it has become important for value-oriented marketers to _____ with customers.
move toward a relational perspective from a transactional orientation
When one of Nike's celebrity endorsers, such as LeBron James, tweets a close-up of a new pair of sneakers, Nike will have instantly reached James's 33.3 million Twitter followers. This is an example of the
network effect
When marketers strive to get their customers the merchandise they want, when they want it, in the required quantities, and at a lower delivered cost than that of their competitors, they are hoping to achieve a sustainable competitive advantage through _______ excellence.
operational
When marketers make their offering available when and where the customer wants it, which of the following elements of the marketing mix is involved?
place
Burt's Bees mission statement to "create natural, Earth-friendly personal care products formulated to help you maximize your well-being and that of the world around you," was prepared during which phase of the strategic marketing planning process?
planning
In which phase of the strategic marketing planning process does the firm decide what level of commitment to its ethical policies and standards it is willing to declare publicly?
planning
Which of the following represents the three major phases of a marketing plan?
planning, implementation, control
Which of the following is a macroenvironmental factor included in the CDSTEP acronym?
political/regulatory environment
When managers at General Motors evaluated all the firms' various divisions and then chose to close both the Saturn and Pontiac divisions, it was involved in
portfolio analysis
Netflix uses __________ analytics to suggest which movies we should watch as well as to develop new content that it is confident we will like.
predictive
Which of the following is not a way of generating revenue from apps?
premium apps
Through which of the following marketing mix variables do companies capture value from consumers, resulting in the generation of revenue?
price
Starbucks recently introduced Via, its brand of instant coffee, to exploit the growth opportunities for new products in current markets. As he prepared for the instant coffee product's North American rollout, Chief Executive Howard Schultz called Starbucks Corporation's Via Ready Brew "perhaps the biggest opportunity" in company history. This is an example of which growth strategy?
product development
Which of the following is one of the four major growth strategies marketers typically utilize?
product development
The _____ era embraced the belief that a good product would sell itself
production-orienented
Marketers communicate the value proposition to their customers through a variety of media, such as television and the Internet. Which of the four Ps does this represent?
promotion
When marketers communicate the value proposition, it involves the _____ element of the marketing mix.
promotion
What two metrics are used in the BCG portfolio analysis to evaluate the various products of a firm?
relative market share and market growth rate
When a company such as Home Depot provides a loyal customer with a relevant coupon, based on previous purchases through his or her mobile phone, while the customer is in the store, this is an example of
relevancy and exciting the customer.
To get customers excited about a social media-related offer, the offer must be
relevant and aimed at a target audience
Which of the following is not a demographic listed in your text that would typically be used to identify consumer markets?
religion What is used: age, gender, income, race
Calvin's company recently launched a campaign to promote a new product. It is Calvin's job to monitor customer feedback from various social media sources to see whether or not the new product is garnering favorable reviews. The technique for measuring this type of data is called ______ analysis.
sentiment
Marketers analyze comments posted by consumers on sites such as Facebook and Twitter to assess the favorableness or unfavorableness about a company and its products in a process known as
sentiment analysis
In China, the app Weixin allows users to send videos, photos, messages, web links, status updates, and news. This app meets people's need to
socialize
In using the ethical decision-making framework, a firm should consider the impact of its actions on its employees, suppliers, and customers—otherwise known as the firm's
stakeholders
The Goodyear Tire Company is organized by regions: North America, Europe, Middle East and Africa, Latin America, and Asia Pacific. These divisions of Goodyear are called
strategic business units
A firm relies on a wide variety of vendors to make and distribute its products. Manufacturers buy raw materials from suppliers, use shipping companies to transport finished goods to multiple locations, and establish relationships with the retailers who sell them to consumers. Put all these businesses together and you have a ___
supply chain
The ability of marketers to use mobile applications, Facebook, and Twitter to more effectively target and reach their customers is an example of which macroenvironmental factor?
technological advances
In the immediate environment, what is the first factor that affects the consumer?
the company itself
What is the objective of the last step in the ethical decision-making framework?
to weigh the various alternatives and choose a course of action
As stated in your text, economic, social, and environmental performance refer to the
triple bottom line
A firm makes generous donations to charities, but its employees are always being scrutinized for engaging in questionable sales practices. This firm would be considered
unethical but socially responsible
A local coffee shop is known for poor customer service and an unclean, dirty environment. These factors would be classified as _____ in a SWOT analysis.
weaknesses
