MKT 340-- FINAL

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

a. B2C

What type of media is this? - Mentions (from third parties) - Shares (from third parties) - Reposts (from third parties) - Reviews (from third parties) a. Earned b. Owned c. Paid d. Traditional

a. Earned

________ represents all the activities necessary to get the product to the right customer when that customer wants it a. Place b. Promotion c. Social media d. Value cocreation e. Supply chain marketing

a. Place

11) The Golden Rule test asks the question, "Would I like to be on the receiving end of this action and all its potential consequences?" a. True b. False

a. True

Attribution is an attempt at measuring the level of success each form of marketing contributes to its marketing campaign. a. True b. False

a. True

CRM is a tool used for both lead nurturing and customer retention. a. True b. False

a. True

CTR, CPC, CPL and ROAS are all metrics a. True b. False

a. True

Each of the following have over 1 billion users: - Facebook - Google Search Engine - Gmail - Android - Chrome - Google Maps - YouTube - Google Play Store - Google Drive - Google Photos a. True b. False

a. True

Generally speaking, in the digital marketing word, a conversion is when a consumer does what you want her to do, e. g. purchase the product a. True b. False

a. True

Key corporate social responsibility (CSR) stakeholders typically include all of the following: - the firm's employees and their families - customer groups - members of the community - the environment - the firm's partners and competitors a. True b. False

a. True

Paid search ads and organic listings are both found on a SERP. a. True b. False

a. True

How a product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer are all elements of a. a marketing plan. b. a marketing exchange c. supply chain logistic d. production management. e. delivery of the value proposition

a. a marketing plan

When Katie Murphy was considering a career in marketing. she was 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, Katie was relieved to learn that in marketing a. All parties should be satisfied b. Promotion is the most important consideration, followed by pricing decisions. c. Decisions are made regarding how a new product is designed d. Customers are not considered until the product is ready for sale e. Distribution is controlled by customers.

a. all parties should be satisfied

According to one definition, CSR can be described as context-specific actions and policies, taking stakeholders' expectations into account, to achieve what is referred to as the triple bottom line. The triple bottom line includes _________________________ performance a. economic, social, and environmental b. economic, social, and political c. financial, economic, and social d. social, environmental, and political e. financial, social, and environmental

a. economic, social, and environmental

Hisaoki picks up the local newspaper and reads a stinging letter to the editor criticizing his beverage company for supporting a sporting event for children with disabilities. The letter writer is critical of a banner displayed at the event with the logos of alcoholic beverages and Hisaoki's company name. Hisaoki never considered that this problem might arise. Hisaoki's company failed to a. identify issues. b. promote the firm's corporate social responsibility efforts. c. analyze the needs of the industry. d. brainstorm and evaluate alternatives e. choose a course of action

a. identify issues

Maria is the new restaurant manager in a major hotel. When considering changes in the restaurant that will increase value to customers, Maria will likely attempt to either provide the same quality at a lower cost or a. improve products and services at the same cost b. increase prices to increase revenue c. offset higher hotel rates with lower restaurant prices. d. reduce customer expectations through reduced service. e. lower the quality and the price

a. improve products and services at the same cost

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

a. its value

Which of the following is least likely to provide a sustainable competitive advantage? a. lowering prices b. having a well-known brand name c. achieving high levels of customer satisfaction d. using patented technology e. creating an efficient supply chain

a. lowering prices

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. market analysis c. company description d. financial plan e. executive summary

a. mission statement.

Jamie sells construction equipment. Whenever she calls on her building contractor customers, she asks if they are having any problems. In doing so, Jamie is addressing which of the following core aspects of marketing? a. satisfying customer needs and wants b. completing the exchange function of marketing c. making product, place, promotion, and price decisions d. making decisions about the setting in which marketing takes place e. creating value

a. satisfying customer needs and wants

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

a. stakeholders

UPS, FedEx, and other shipping companies support other firms' ________ marketing goals a. supply chain management b. value communication c. value capture d. retail management e. promotion

a. supply chain management

By allowing consumers to sell their unwanted goods to other consumers, auction sites like eBay and Etsy cater to ________ marketing a. B2B b. C2C c. D2C d. C2D e. B2G

b. C2C

________ entails a sense of purpose for the firm that is higher than simply making a profit by selling products and services a. Corporate social responsibility b. Conscious marketing c. Triple bottom line d. Marketing analytics e. The four Ps

b. Conscious marketing

Customer retention programs are based on what concept a. Customer excellence is the easiest macro strategy to follow b. Customer relationships should be viewed from a lifetime value perspective rather than on a transaction-by-transaction basis. c. It is important to maximize profits in the first few months of a customer relationship d. Segmentation, targeting, and positioning analysis should not be rushed e. Firms must spend large amounts of money to retain customers

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

CTA, CPM, CRM and SERP are all metrics a. True b. False

b. False

Call to action is a button at the end of a video or display ad that allows customers to click to call the advertiser a. True b. False

b. False

One of the advantages of search engine optimization is that the advertiser only pays when someone clicks on its URL a. True b. False

b. False

Retargeting is a popular form of search engine marketing. a. True b. False

b. False

STP refers to segmentation, testing, and promotion. a. True b. False

b. False

Setting high customer expectations is a good strategy that will help avoid customer dissatisfaction in the long run. a. True b. False

b. False

The goal of pay-per-click advertising is to have high: - click-through rates, - conversion rates, and - bounce rates a. True b. False

b. False

The top three digital advertising platforms are Google, Amazon and Facebook in that order. a. True b. False

b. False

Two requirements of sustainable competitive advantage are that it is easy to be copied and can be maintained over a long period of time a. True b. False

b. False

What type of media is this? - Company website - Company blog(s) - Company social media a. Earned b. Owned c. Paid d. Traditional

b. Owned

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 a. portfolio analysis b. SWOT analysis c. situation analysis d. initial analysis e. positioning analysis

b. SWOT analysis

What is the most basic corporate social responsibility to employees? a. To ensure the highest pay for the work performed b. To ensure a safe working environment c. To ensure all potential conscious marketing issues are raised d. To assess each employee's level of confidence e. To ensure the firm primarily serves the community in surrounding neighborhoods

b. To ensure a safe working environment

All of the following are questions posed in the ethical decision-making metric except a. Would I want to see this action described on the front page of the local paper? b. Will this action help advance my career? c. Would the person I admire most engage in this activity? d. Can I give a clear explanation for my action? e. Will I be able to look at myself in the mirror and respect what I see?

b. Will this action help advance my career?

All of the following statements regarding corporate social responsibility are true except a. firms believe that they have legal and economic duties in addition to responsibilities to society b. a firm's responsibilities to society are not associated with the demands, expectations, requirements, and desires of various stakeholders c. CSR can be defined as context-specific actions and policies, taking stakeholders' expectations into account, to achieve what is referred to as the triple bottom line. d. today, virtually all large and well-known companies engage in some form of CSR. e. CSR actions are not mandated by law.

b. a firm's responsibilities to society are not associated with the demands, expectations, requirements, and desires of various stakeholders

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 a. publicity test b. admired observer test c. moral mentor test d. transparency test e. person in the mirror test

b. admired observer test

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

b. can be physically touched

When marketers work in controversial or polluting industries such as tobacco or fossil fuels, their central activities largely bar them from becoming a. ethical human beings. b. conscious marketers. c. profitable d. successful e. recognized

b. conscious marketers.

Kia has to decide which college to attend. This is the most important, riskiest, and most expensive decision she has ever made. She will be engaged in a. low-involvement decision making. b. extended problem solving c. habitual decision making d. prepurchase dissonance e. limited problem solving

b. extended problem solving

To build relationships, firms focus on the ________ of the relationship, not how much money is made during each transaction. a. cost b. lifetime profitability c. length d. value e. worth

b. lifetime profitability

Before flying, Jorden researches the types of planes the airline uses, scans the plane for defects as it taxis up to the terminal, and follows the pilot and crew as they come through the airport. He has no experience as a pilot or airplane mechanic. Jorden probably has a misguided sense of his a. postpurchase dissonance b. locus of control c. reference group identification d. attribute sets e. social risk

b. locus of control

Many states create licensing requirements for a variety of professionals (such as lawyers and accountants) designed to restrict entry into their market by professionals from other states. This strategy limits ____________ growth strategies. a. product proliferation b. market development c. market penetration d. diversification e. product development f. segment development

b. market development

A(n) ________ is a need or want strong enough to cause a person to seek satisfaction. a. locus of control b. motive c. attitude d. perception e. learning curve

b. motive

Generally, people buy one product or service instead of another because they a. want to get the lowest price possible b. perceive it to be the better value for them c. prefer to avoid doing extended problem-solving d. have conducted a thorough internal search for information e. are unaware of key determinant attributes

b. perceive it to be the better value for them

The ethical decision-making framework includes all of the following steps except a. identify issues. b. promote the firm's corporate social responsibility efforts. c. gather information and identify stakeholders. d. brainstorm alternatives e. choose a course of action.

b. promote the firm's corporate social responsibility efforts.

Conscious marketing encompasses all of the following overriding principles except a. recognition of marketing's greater purpose. b. recognition of the company's bottom line c. consideration of stakeholders and their interdependence d. the presence of corporate leadership, creating a corporate culture. e. the understanding that decisions are ethically based

b. recognition of the company's bottom line

All of the following are included in the decision-making metric except a. the publicity test b. the likability test c. the moral mentor test d. the transparency test e. the admired observer test

b. the likability test

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes a. only the actual price they pay at the register. b. the value of their time and energy c. the excitement they experience in finding an item they desire d. the savings to the store of not having to display the products neatly on shelves e. when the product was listed at full price and didn't sell

b. the value of their time and energy

56% of online shoppers start their product searches on which online site? a. Google b. Facebook c. Amazon d. Pinterest e. LinkedIn f. Instagram g. LinkedIn h. eBay

c. Amazon

As the use of the Internet took off, car manufacturers were tempted to sell directly to consumers but decided instead to continue to sell through their existing dealer networks. The car manufacturers considered switching from ________ to ________ marketing a. B2C; B2B b. B2C; C2C c. B2B; B2C d. B2B; C2C e. C2C; B2C

c. B2B; B2C

Which of these is not one of the 4E Framework of Digital Marketing? a. Excite b. Educate c. Entertain d. Experience e. Engage

c. Entertain

Which of the following steps occurs during the implementation phase of the marketing plan a. Evaluate performance using marketing metrics b. Conduct a situation analysis c. Identify and evaluate opportunities d. Define business mission e. Define business objectives

c. Identify and evaluate opportunities

What type of media is this? - PPC - Display ad - Retargeting - Social media ads a. Earned b. Owned c. Paid d. Traditional

c. Paid

Which of the following is not one of the categories in Boston Consulting Group's Portfolio Analysis Model a. Stars b. Question Marks c. The Long Tail d. Cash Cows e. Dogs

c. The Long Tail

Before going on his first business trip to China, Bradley asked his Chinese American friend to advise him on customs and values common among the Chinese businesspeople he will likely encounter. Bradley is trying to avoid ________ business blunders. a. reference group b. situational c. cultural d. cognitive e. evoked

c. cultural

The Harvest County School Board is concerned about deteriorating school facilities, combined with a shrinking budget. The board began by studying the issue, and then identified parents, children, teachers, staff, and taxpayers as groups who have a vested interest in the problem. The school board has listened to each group's concerns. In the ethical decision-making framework, its next action should be to a. identify issues of concern to lawmakers b. assess impact of its actions beyond the classroom c. engage in brainstorming alternatives d. choose a course of action e. evaluate the legal ramifications

c. engage in brainstorming alternatives

The first step in the marketing planning process (developing a marketing plan) 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 mission and objectives. d. select target markets e. develop a marketing mix, so that an appropriate segment can later be identified.

c. establish the overall mission and objectives.

Brett is struggling with the choice of publishing his new book, How to Cook Polish Barbecue, as an e-book or a paperback. Brett is addressing which core marketing aspect? a. developing a promotional plan b. managing the exchange function of marketing c. making product decisions d. satisfying a need but not a want e. pricing the product

c. making product decisions

Effective promotion enhances a product or service's a. supply chain management system b. wholesaling capabilities c. perceived value d. design features e. trialability

c. perceived value

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. product b. place c. performance d. promotion e. price

c. performance

In the ________ stage, a firm will decide what level of commitment to its ethical policies and standards it is willing to declare publicly and how the firm plans to balance the needs of its various stakeholders. a. brainstorming b. implementation c. planning d. control e. evaluation

c. planning

The main focus of __________________________ is how a product compares with its competition a. segmentation b. targeting c. positioning d. marketing

c. positioning

Which of the following is not one of the four major growth strategies marketers typically utilize a. market penetration b. market development c. segment development d. diversification e. product development

c. segment development

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

c. strengths and weaknesses

The greater the discrepancy between a consumer's needy state and the desired state, the greater a. time needed to satisfy the need b. the effort consumers will invest in searching for alternatives c. the consumer's need recognition will be d. the size of the universal set will be e. the amount of external information search will be needed.

c. the consumer's need recognition will be

The consumer decision process model represents a. the concept of habitual decision-making b. the retrieval of an evoked set based on physiological needs c. the steps that consumers go through before, during, and after making purchases d. the shift from an internal to an external locus of control e. the types of decisions all consumers must make

c. the steps that consumers go through before, during, and after making purchases

Which social media users spend online more than 2.5 times as much as an average U.S. consumer? a. Facebook b. Instagram c. Pinterest d. LinkedIn e. YouTube f. TikTok g. Twitter

d. LinkedIn

Which social media site is best suited to help consumers experience a product before buying a. Facebook b. Pinterest c. LinkedIn d. YouTube e. TikTok

d. YouTube

After a firm has identified the various stakeholders and their issues and gathered available data related to an ethical decision-making situation, ________ should engage in brainstorming and evaluating alternatives a. the senior managers most involved b. key customers c. elected officials d. all parties relevant to the decision e. any individuals with competing interests

d. all parties relevant to the decision

Larry is asked to conduct an STP analysis for his firm. The first step he should perform in this analysis is to a. develop a business mission statement. b. choose the best target markets. c. reposition existing segments. d. divide the marketplace into subgroups e. conduct a SWOT analysis

d. divide the marketplace into subgroups

Four Winds Art Gallery sells paintings. They have also recently begun offering appraisals of customers' art collections. Four Winds is a. expanding from offering just services to also offering goods b. implementing a market segmentation strategy c. capturing value through multiple pricing strategies d. expanding from offering just goods to also offering services e. increasing customer value through inflated appraisal evaluations

d. expanding from offering just goods to also offering services

By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to a. influence social norms regarding sexuality b. encourage consumers to participate in product redesign c. stimulate supply chain management cooperation d. increase the perceived value of its products e. demonstrate social responsibility

d. increase the perceived value of its products

Marketers are particularly interested in postpurchase behavior because it a. involves both compensatory and noncompensatory consumers b. offers insights into information search methods. c. avoids situational conflicts d. involves actual rather than potential customers. e. involves both actual and potential customers

d. involves actual rather than potential customers.

The strategic marketing planning process a. is a five-step process that should always be completed in order. b. is frequently used in reverse c. begins with establishing specific, measurable outcomes d. is not always sequential e. forces marketing managers to think rationally

d. is not always sequential

Tomas, a bank employee, doesn't feel that his coworkers accept him. He decides to dress more casually, as they do, hoping to be accepted. Which level of Maslow's hierarchy of needs is Tomas trying to work on? a. esteem b. physiological c. safety d. love e. self-actualization

d. love

Many marketing students initially overlook the importance of marketing channel management because a. marketing has no responsibility for supply chain management b. marketing channel management doesn't add much value for customers c. companies do not want customers to know anything about the supply chain. d. many of these activities take place behind the scenes. e. marketing channel management is already transparent.

d. many of these activities take place behind the scenes.

The sale of products that may damage the environment, the use of sweatshop labor, and the marketing of dangerous products are examples of a. internal, controllable marketing issues b. issues that don't even need to be discussed in ethical firms c. marketing issues but not ethical issues d. marketing ethical issues e. ethical issues but not marketing issues.

d. marketing ethical issues

Katy has naturally curly hair and has often been disappointed with the haircuts she has received. When she moved to a new town, she approached her new office mates and several strangers with curly hair and asked them where they had their hair cut. She chose to spend considerable effort finding a new hairstylist based on the ________ associated with her purchase decision. a. evoked set b. reference group c. physiological risk d. performance risk e. financial risk

d. performance risk

Which of the following is not one of the macro or overarching strategies for sustainable competitive advantage a. customer excellence b. operational excellence c. product excellence d. price excellence e. locational excellence

d. price excellence

When the publisher of the well-known Babar books wanted to celebrate the 80th anniversary of the series, it initiated a $100,000 campaign. Which of the four Ps does this campaign represent? a. performance b. price c. place d. promotion e. product

d. promotion

The first objective in the evaluation performance phase of the marketing planning process is to a. determine whether to raise or lower prices b. adjust advertising allocations c. find ways to cut costs d. review implementation programs and results using metrics e. consider changing the target market

d. review implementation programs and results using metrics

Pauline is about to open a new hardware store. She is making decisions regarding lighting, colors, and layout of merchandise. Pauline knows these ________ factors will influence consumers' purchase decisions. a. interpersonal b. extended habitual c. postpurchase dissonance d. sensory e. social

d. sensory

Generally speaking, which one(s) of the below is an advantage of digital marketing? a. Micro Targeting b. Personalization c. Measurement d. Cost e. All of the Above f. None of the Above

e. All of the Above

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

e. create value

Postpurchase cognitive dissonance is especially likely for products that are a. cheap, poorly made, and made of plastic b. personally valuable, antique, or foreign-made c. simple, easily copied, and new d. psychologically soothing, purchased impulsively, and part of a consumer's evoked set e. expensive, infrequently purchased, or associated with high levels of risk

e. expensive, infrequently purchased, or associated with high levels of risk

When Kyle began searching for a new car to replace her old, rusty one, she probably relied on ________ sources of information a. interpersonal and sensual b. compensatory and noncompensatory c. ritual and spiritual d. psychological and functional e. internal and external

e. internal and external

Which of the following growth strategies employs the existing marketing mix and focuses the firm's efforts on existing customers? a. product penetration b. diversification c. market development d. product development e. market penetration

e. market penetration

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. sales history c. pension plan. d. product specifications e. opportunities and threats

e. opportunities and threats

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 a. product b. promotion c. price d. perception e. place

e. place

Which element of the marketing mix deals with supply chain management? a. product b. price c. promotion d. production e. place

e. place

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

e. supply chain management

There is a saying "Never go to the grocery store hungry." This saying suggests that a consumer's ________ state may adversely affect purchasing decisions. a. shopping b. social c. theoretical d. external e. temporal

e. temporal

When referring to "exchange," marketers are focusing on a. the location where products and services are traded b. the price charged, adjusted for currency exchange rates. c. location-based tactics for creating value. d. promotional offers designed to stimulate barter e. the trading of things of value.

e. the trading of things of value

Chris has just started with a travel agency, and she has been offering clients and prospective clients a range of packaged tours. She is concerned because the commissions she is earning on her sales are lower than she had hoped. Her colleague Pete, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Pete's approach is based on a. transaction-oriented marketing b. premium pricing c. his seniority at the firm d. special incentives from tour operators e. value co-creation

e. value co-creation

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 a. high-pressure sales techniques b. deceptive pricing tactic c. misrepresentation of company data d. misleading advertising e. withholding information

e. withholding information

By producing motorcycles that do more than get riders to their destinations and back, Harley-Davidson is addressing consumers' ________ needs. a. functional and social b. postpurchase and prepurchase c. safety and situational d. psychological and physiological e. functional and psychological

e.functional and psychological