MKTG 350 Chpt 1-6!!
Which factor should marketers keep in mind about gender when promoting goods and services?
The status and earning power of women have increased in recent decades.
When developing marketing plans, what should a firm consider about their competition?
Their likely reaction
What must marketers understand about their competition?
Their likely response to marketing activities Their weaknesses Their strengths
Which of the following are reasons marketers are increasingly embracing gender neutrality?
There are shifts in status, attitudes, and behaviors of women that affect the way many firms need to design and promote their products and services. Gender roles are no longer as distinct as they once were.
Which of the following are true of Baby Boomers?
They are born between 1946 and 1964. They will be the largest population of 50-plus consumers the United States has ever seen.
Which of the following is true of services?
They cannot be separated from the producer.
Which of the following are components of a SWOT analysis?
Threats Weaknesses Opportunities
Which are among the seven primary needs that apps meet?
To accomplish To discover To self-express
Why would a firm record the number of abandoned virtual carts on its website?
To assess the conversion rate
What is the basic goal of any website?
To convince users to engage with content
Which best describes the purpose of determinant attributes?
To help consumers differentiate between competing brands or stores that seem similar
What is the purpose of evaluating performance during Step 5?
To identify and explain performance above and below expectations
Why do firms use metrics in Step 5 of the marketing plan?
To make it possible to compare results across regions, product lines, and time periods To make appropriate adjustments to performance
What are the main purposes of metrics during Step 5?
To predict what will happen To explain why things happened
True or False: Consumers often evaluate alternatives while still engaged in the search process.
True
True or False: In the marketing mix, place attempts to deliver value by making the product or service available when and where the consumer needs or wants it.
True
True or False: Marketers use mobile devices and apps to improve the consumer experience by offering convenience and information.
True
True or False: Situational factors sometimes override psychological and social issues.
True
True or False: The statement "Life tends to unfold the way it should with or without my actions" is an example of an external locus of control.
True
True or false: Educating consumers includes reminding people about what they already know.
True
Ling is engaged in crowdsourcing. In what is she most interested?
Users' ideas
Which of the following is LEAST effective when building a sustainable competitive advantage?
Using only a single strategy
Which are components of SWOT analysis?
Weaknesses Opportunities
What is an example of a contextual element?
Website design
Which of the following is the primary question a mission statement should answer?
What type of business are we?
What are reasons why strategic planning may NOT occur sequentially?
When a situation analysis necessitates that the mission statement be revised When new logical alternatives arise When the implementation plan cannot move forward because there are too few resources
Limited problem solving is most likely to occur under which condition?
When the consumer has a purchase decision that calls for, at most, moderate effort and time
When does self-actualization occur?
When you feel completely satisfied with your life and how you live
Which of the following are examples of external searches for information when looking to purchase a new car?
You purchase a copy of Consumer Reports. You ask your brother how he likes his new car. You browse the manufacturer's website.
Sal wants to create a vivid experience of his company's product, a floor-sweeping robot, for online consumers. Which medium would be the most useful to him?
YouTube videos
A marketing plan includes all of the following EXCEPT
a plan on how to pitch investors
A(n) _____ is learned, long lasting, and often develops over a long period of time. For instance, you might like your instructor for much of the semester until he or she returns your first exam.
attitude
Gretta has never tried Pert shampoo, but she doubts that a two-in-one shampoo can be as effective as the shampoo and conditioner that she uses daily. Her negative predisposition toward the brand is her ______.
attitude
Which generational cohort was born between 1946 and 1964?
baby boomers
The social-media equivalent of a personal journal or diary is called a(n) ____
blog
When site visitors leave the site almost as soon as they arrive, perhaps after viewing just one page, the marketing manager will be concerned with the ____
bounce rate
During the development and implementation of a social media marketing campaign, step three (immediately after identifying the target audience) is to ensure that adequate ______ is developed to support the campaign.
budgeting
The most important immediate environmental factors that impact consumers are the ___
company, competitors, and corporate partners
The outcome of social media that satisfies humans' innate need to connect with other people is known as the ___ effect.
connected
Fast Bean sells coffee to Fred to brew and drink at home. This is an example of business-to-______ marketing.
consumer
In all marketing efforts, the ______ is at the center.
consumer
When launching a new clothing line, a company must focus primarily on the needs and wants of ____
consumers
The impact of the information effect depends on its ____
context
The ______ rate is the percentage of visitors or potential customers who take the action the marketer wanted them to take, such as making a purchase, downloading a report, or subscribing to a newsletter.
conversion
A smartphone manufacturer may collaborate with a company that makes lithium-ion batteries to ensure that their phones have the longest possible battery life. The battery maker is considered the smartphone company's ______ partner.
corporate
Many businesspeople believe that marketing should focus on factors other than financial goals, such as ______.
corporate citizenry
If a car company collaborated with a sheet metal supplier, the car company would be the supplier's ____
corporate partner
One of the factors that affects a consumer's search process involves weighing the perceived benefits of a search against the perceived
cost
Value-oriented marketers measure the benefits that customers perceive against the _____ of their offerings.
cost
When JetBlue Airlines provides travelers with in-flight WiFi shopping, it is ______ to satisfy customer needs.
creating value
Asking users to submit ideas for a new product or service, and/or comment and vote on the ideas submitted by others, is known as
crowdsourcing
___ is defined as the shared meanings, beliefs, morals, values, and customs of a group of people.
culture
In a value-based, marketing-oriented firm, marketers share information about ______ and competitors and then integrate and distribute it across the firm's various departments.
customers
Which entity does NOT market to the other entity?
customers to busienss
Modern marketers use ______ to focus how they approach their customers and market their products.
data analytics
An example of inflation would be when increasing prices cause the purchasing power of the dollar to ______.
decline
A mission statement ______
defines the scope of activities a firm plans to undertake
Marketing is the activity, set of institutions, and processes that create, capture, communicate, and ______ value.
deliver
Data that indicates the characteristics of human populations and segments is known as ___
demographics
___ are characteristics of human populations such as gender and race.
demographics
A food ____ refers to an area or neighborhood where there is limited or no access to healthy, affordable fresh food options.
desert
Each of the four Ps plays a distinct role in adding value for customers and firms. Product, the first of the four Ps, is responsible for
developing goods and services
A ______ strategy introduces a new product or service to a new market segment, one that the firm has not yet targeted.
diversification
The final step in the social media engagement process is known as the ______ stage.
do
Within the 4E framework for social media, the ultimate goal of a firm is to ______ the customer.
engage
The 4E framework includes giving customers an opportunity to ______ the firm's digital marketing activities.
engage with
Step 5 in the marketing plan process is when a firm ______ the outcome of the strategy and implementation process.
evaluates
Step 5 of the marketing plan involves
evaluating the results of the strategy and implementation program
Julio is familiar with several brands of mobile phones, but he plans to consider only two brands when he purchases his next phone. Those two brands are his____ set.
evoked
Octavia is in the market for purchasing a new automobile, but she will only consider buying models made by American companies. The American car makers are part of Octavia's ______ set.
evoked
A core aspect of marketing involves a(n) , ____which is a transaction in which things of value are traded by buyers and sellers.
exchange
A travel company launches a new app that makes the process of booking your next vacation into a game. This is best categorized as using social media to ______ the customer.
excite
A company must be able to evaluate an attractive opportunity in relation to its ______ competencies.
existing
What adjective best describes the network effect?
exponential
Consumers often use ______ problem solving for risky purchase decisions.
extended
An ______ search is when the buyer looks for information beyond his or her personal knowledge to help make the buying decision, such as checking the Internet, asking a friend, or visiting a showroom.
external
They are two key types of information searches: internal and
external
Which company would likely charge customers the least if all marketing and advertising spending was discontinued?
True or False: Firms that use multiple strategies to build a sustainable competitive advantage have difficulty maintaining long-term success.
false
What are some components of a country's culture?
food preferences and language differences
Engagement with the customer is designed to ____
foster loyalty
Which is the largest generational cohort since the Baby Boomers?
gen y
Members of Generation _____ have never known a time without the Internet and electronic gadgets.
generation z
Consumers in a _____ cohort are a group of people in the same generation who tend to have similar buying behaviors.
generational
Services are intangible customer benefits, whereas ______ are tangible items that you can physically touch.
goods
The total requests for a web page and are used as a measure of Internet traffic are called
hits
Products include goods and services, as well as ____ , which are thoughts, opinions, and philosophies that can be marketed, just as goods and services can.
ideas
After firms analyze the data they have accumulated, they must ____
implement what they have learned
In general, what adjective best describes a site with a high bounce rate?
ineffective
Accessing information from one's own memory and knowledge is known as a(n) ______ information search.
internal
Horace needs a new pair of running shoes. He first thinks about the last pair he bought, how comfortable they are, and how well they have held up. In this example, Horace is conducting a(n) ______ search for information.
internal
Consumers may have different levels of ______, which is known as the consumer's degree of interest in a product or service.
involvement
Randy is relatively indifferent when it comes to the purchase of a six-pack of beer because he will drink any brand that is fairly inexpensive. His low degree of interest in beer classifies him as a low- _______ beer buyer.
involvement
A competitive advantage based on location ___
is sustainable when real estate is difficult or expensive to obtain
Wayne buys a new laptop every two years. At this point, rather than research different brands, he simply orders the latest version of the one he already has. For Wayne, the laptop is a(n) ______ problem-solving purchase experience.
limited
What is the first stage of the social media engagement process?
listen
Hallmark sells Valentine's Day cards with romantic quotes that are appealing to ______ needs.
love
Which factor does NOT directly influence how the consumer makes a purchase decision?
macroeconomic factors
What would qualify as a conversion?
making a purchase
During the sales-oriented era,
manufacturers had the capacity to produce more than consumers were able to buy
A strategy that employs existing products or services to reach new market segments is called
market development
When a firm has moved beyond a production or selling orientation and attempts to discover and satisfy its customers' needs and wants, the firm is
market oriented
Firms consider pursuing various ______ as part of their overall growth strategies.
market segments
The macro strategies for developing customer value include each of the following EXCEPT ______ excellence.
marketing
A ______ is a written document that includes the current marketing situation, specified objectives and strategies, action programs, and projected income statements.
marketing plan
A ______ identifies a firm's target markets, a related marketing mix, and the bases upon which the firm plans to build a sustainable competitive advantage.
marketing strategy
A metric is a ______ that quantifies a trend, dynamic, or characteristic.
measuring system
Revenues and profits are commonly used ______ to assess performance.
metrics
Which of the following are components of price?
money, time, energy
A(n) ______ is a basic need that drives consumers to solve a problem and satisfy a need, such as a headache that leads a person to purchase a pain reliever.
motive
The impetus that pushes consumers to satisfy their unmet needs, such as having no laundry detergent to do the wash, is a(n) _____
motive
Which of the following describes the fundamental purpose of marketing?
o create value and satisfy consumer needs
Product excellence ______.
occurs by having products with high perceived value and effective branding and positioning
The process by which a search engine determines the ranking of search results is called a(n) ______ search.
organic
___ measure the number of times a website page is seen by any unique site visitor.
page views
A market ______ growth strategy focuses on increasing sales of the firm's current products to its current target markets.
penetration
The social influences that affect a consumer's behavior do NOT include _____
perceptions
In Stage 5, the purpose of a(n) ____ evaluation is to figure out problem areas.
performance
The motive that drives Conrad to buy a large bottle of Gatorade after running 3 miles and drink it quickly is a(n) ______ need.
physiological
Sandra is walking down the street and finds herself in the mood for an ice cream cone. A few blocks later she passes an ice cream shop. Which of the 4 Ps is most at play here?
place
Which element of the four Ps embodies all activities needed to get the product to the right customer when and where he or she wants it?
place
Which of the four Ps represents all activities necessary to get an offering to the right customer when that customer wants it?
place
Large corporations collect vast amounts of information about their customers' shopping habits, including how, when, why, where, and what they buy, and then use that information to
plan future products and services
The three major phases of the marketing plan are ____
planning, implementation, and control
The ______ environment is comprised of political parties, government organizations, and legislation and laws.
political/legal
In ______ analysis, management evaluates the firm's various products and businesses, then allocates resources according to potential profit outlook.
portfolio
STP includes which of the following?
positioning, segmentation
The final step in the consumer decision-making process, and a very important element in retaining and building a loyal customer base, is ____ behavior.
postpurchase
Of the four Ps, ______ is whatever the buyer gives up in exchange for the product, including money, time, or energy.
price
Firms that achieve a sustainable competitive advantage through their merchandise and service offerings, and through effective branding and positioning, are doing so using ______ excellence.
product
Which of the following is the part of the marketing mix that seeks to create value by providing features and benefits that meet consumers' needs?
product
The ______ strategy offers a new product or service to a firm's current target market.
product development
Which of the following is one of the macro strategies for developing customer value through effective branding and positioning?
product excellence
Which of the following are elements of the marketing mix?
product, price
The 4 Ps include
product, price, place, and promotion.
Manufacturers in the production-oriented marketing era at the turn of the 20th century were concerned with efficient ______, not with satisfying the needs of consumers.
production
Which statement illustrates an internal locus of control?
"Consequences are the result of my actions."
A company's ______ create(s) value by satisfying customer needs.
products, services, or ideas
Marketers use ______ to inform, persuade, and remind potential buyers about a product or service to influence their opinions and elicit a response.
promotion
Consumer decision making about products and services is influenced by the configuration of the market mix, social influences, ______ factors, and sociological factors.
psychological
Need _____ is the first stage in the consumer decision process.
recognition
In a(n) ____ diversification opportunity, the current target market and/or marketing mix shares something in common with the new opportunity.
related
Locational excellence is particularly important for which type of firm?
retailers
All of the brands that Miguel can easily call to mind for laundry detergents, whether he would consider buying them or not, comprise his ______ set.
retrieval
When Akeelah is thinking about where she would like to eat lunch, she remembers five places close by where she has eaten before. Although she would not revisit some of them, these restaurants are part of Akeelah's ______ set.
retrieval
____ are increasingly performing work, like filling orders, that humans used to do. (Enter one word in the blank.)
robots
The ______ is the second step in the consumer decision process.
search for information
When a toothpaste manufacturer divides the marketplace into smaller targets based on benefits sought by consumers, this is an example of market
segmentation
A ______ is any intangible offering that involves a performance or an effort by the provider that cannot be physically possessed, inventoried, or otherwise held.
service
Online and mobile technologies that distribute content to facilitate interpersonal interactions are known as_____ media.
social
The external ______ environment that influences consumer behavior includes consumers' family, reference groups, and culture.
social
A ______ is a division of the firm itself that can be managed and operated independently from other divisions.
strategic business unit (SBU)
In a SWOT analysis, ______ refer to the positive internal attributes of the firm.
strengths
Licensing of the brand, a reputation for quality, and a large number of retail stores are examples of potential ______. These refer to a firm's internal attributes as identified during a SWOT analysis.
strengths
What are the four components of a SWOT analysis?
strengths, weaknesses, opportunities, threats
Consumers who hesitate to purchase goods because they worry about the potentially low wages paid to workers in the fast fashion industry are expressing ______ concerns.
sustainability
When deciding on contextual elements, you should identify your ____
target market(s)
The "T" in STP stands for
targeting
What is the most popular need users satisfy through apps?
"Me time"
Which statement illustrates an external locus of control?
"No matter how hard I study, the test will be too hard."
What is the average yearly income for young adults with a bachelor's degree in the United States?
$50,000
Approximately what percentage of marketers use social media?
97%
Which purchase would most likely be motivated by a safety need?
A burglar alarm
Which of the following characterizes an exchange?
A buyer and seller trade things of value, leaving each better off than before.
How much control do companies generally have over the content on corporate blogs that allow customers to respond to posts?
A high degree of control, because companies retain editorial control over the content posted
Which of the following are considered ideas?
A philosophy An opinion
Value-based marketers believe that consumers want which of the following when they purchase a product?
A price that is a good value Their wants to be met Their needs to be met
What is the best definition of dynamic in the term dynamic effect?
Active and constantly changing
Which of the following are associated with marketing, as defined by the American Marketing Association?
Activities that communicate offerings that have value for society at large, Processes used to create value for clients, Institutions that facilitate the exchange of offerings that have value for customers
Retailers use ______ to see how well they are doing at turning potential buyers into actual buyers.
the conversion rate
Rahim is looking for ways to increase communication with customers through his company's website. Which of the following would be most helpful?
Adding an instant messaging function
Roughly 80% of population growth over the next two decades in the United States is projected to come from a combination of which of the following groups?
African Americans Asians Hispanics
A firm can begin to implement the marketing mix immediately after which step?
After it has finished segmentation, targeting, and positioning
What are possible reasons for the increase in wealthy families?
Aging of the general population Increase in dual-income households
What is an effective way for digital marketers to use content?
Align the content to suit the target market specifically.
Which statement is true regarding SBUs?
An SBU may have a different mission or objective from other divisions.
What are fundamental components of the dynamic effect in social media engagement?
An active back-and-forth exchange that promotes further interaction The way in which people's interests and participation in online groups change over time
What is the best definition of a blog?
An online journal enabling people to share their thoughts
Which type of business would be the most likely to see food sales suffer as a result of inflation and rising costs and consumers' desire to save money?
An upscale steakhouse
What are the three stages of the social media engagement process?
Analyze Listen Do
The process by which businesses sell to consumers is known as ______ marketing.
B2C
When a consumer uses many evaluative criteria, such as fuel economy, acceleration speed, and the availability of extra features, to make a decision about purchasing a car, the consumer is doing what?
Basing the decision on important features of the car
When were Millennials born?
Between 1977 and 2000
What are some characteristics of Generation X?
Born between 1965 and 1976, represent 41 million Americans, considered latchkey children
Firms become value driven by focusing on which of the following activities?
Building relationships Balancing customer benefits and costs Sharing information
Like Timex, Rolex makes watches. How does Rolex add unique value to its products?
By conferring status
What is most helpful to know when trying to understand how visitors navigate a site?
Click paths
What show how users move through, or navigate, the pages of a website?
Click paths
In addition to customer satisfaction and loyalty, which of the following is also one of the potential postpurchase outcomes?
Cognitive dissonance
Which of the following are critical elements of the 7C framework for online marketing?
Commerce Communication Content
Which of these is NOT a macroenvironmental factor that directly influences a firm?
Competition
Which of the following are factors that affect consumers' immediate environment?
Competitors Company capabilities Corporate partners
Which component of the 7Cs of online marketing comprises text, graphics, videos, and audio?
Content
Which scenario is an example of loyalty to a company in a consumer's daily life?
Continuing to shop at Dunkin' Donuts even if Starbucks opens more convenient locations and offers slightly lower prices.
What are the three major phases of the marketing plan?
Control Planning Implementation
What is the first step in the 7C framework?
Core goals
Which of the following are components of culture?
Customs Beliefs Morals
What tasks are firms increasingly using artificial intelligence (AI) to complete?
Decision making Translations Speech recognition
Which of the following are steps in the STP process?
Dividing the marketplace into subgroups Determining which subgroups should be pursued Positioning its products and services to meet the needs of the chosen targets
When was the consumer "king"?
During the market-oriented era
Which are components of the Wheel of Social Media Engagement?
Dynamic Information Network
A market penetration strategy, as one of the possible growth options, may be achieved by which of the following?
Encouraging current customers to patronize the firm and the brand more often
Which of the 4Es explains why corporate blogs tolerate negative customer posts?
Engagement
Which of the following is at the center of the Wheel of Social Media Engagement?
Engagement
What are effective uses of corporate blogs?
Engaging customers through two-way dialog Educating customers about products and services Creating excitement when discussing new products and promotions
In Maslow's hierarchy, _____ needs allow people to satisfy their inner desires.
Esteem
Taking a yoga class or a meditation class to maintain a satisfied outlook on life is appealing to which need in Maslow's hierarchy?
Esteem
Which of the following consist of a set of salient, or important, attributes about a particular product?
Evaluative criteria
What are elements of the 4E framework?
Excite customers with relevant offers. Educate customers about offers. Help customers to experience products. Give customers an opportunity to engage with their social network.
What takes place during the fourth step, or development phase, of a digital marketing campaign?
Experimentation and engagement
Jamie wants to buy a car. She reads car reviews online, asks her friends for advice, and visits the websites of all the major car manufacturers. Next, she goes to several car dealerships to test-drive cars. Jamie is engaging in which type of problem solving to select a car?
Extended
What are the two types of information search?
External search Internal search
True or False: Businesses should avoid using social and mobile media technologies.
False
True or False: Customers generally prefer talking to a salesperson when they need information over searching on the Internet.
False
True or False: For consumers, good value means that a product or service is inexpensive.
False
True or False: The consumer decision process starts with need recognition and ends with the purchase itself.
False
True or False: The purpose of a marketing strategy is to maximize short-term profits.
False
True or False: The statement "Sometimes things just are not meant to work out" is an example of an internal locus of control.
False
True or False: Universal sets are a subset of retrieval sets and evoked sets.
False
True or false: The only way to experience a product or service for sale is to actually purchase it.
False
Which of the following services do the robots entering the marketplace provide?
Filling orders Delivering goods via driverless cars Counting cash
If you are motivated by physiological needs to make a purchase, which product would you buy?
Food
Changes in the value of the euro in relation to the dollar over time is an example of which of the following?
Foreign currency fluctuation
What are examples of social media content that businesses can effectively leverage to excite customers?
Games based on a product or brand Mobile apps used to communicate personalized offers Information on Facebook used to communicate deals
Which of the following is the generational cohort that consists of people born between 1965 and 1976?
Generation X
What are Digital Natives also called?
Generation Z
What is the name for a group of individuals who are of the same generation?
Generational cohort
Gretchen lives in the United States and is going on vacation to Australia. She wants to go when it makes the most economic sense for her. Which of the following would be the best time for Gretchen to go?
Gretchen should go when the US dollar is strong and Australian currency is weak.
Which income groups' purchasing power is growing relative to other income groups?
Highest-income groups
During which step of the marketing plan do marketers make important decisions about how they will allocate their scarce resources to their various products and services?
Implement marketing mix
Which of the following are services airlines frequently offer to create value for customers?
In-flight WiFi shopping opportunities Many flights to destinations consumers want
Which of the following demographic factors help predict consumer buying patterns?
Income earned Education attained
____ refers to an increase in the prices of goods and services and a decline in purchasing power.
Inflation
Which of the following are examples of technologies that allow communication with customers?
Instant messaging Live chat E-mail
From a marketing perspective, focusing on mobile devices accomplishes what?
It makes it more likely that a consumer will spend more at a retailer.
What were the primary characteristics of the market-oriented era that followed World War II?
It was a buyer's market. Products were designed to focus on consumers' needs.
Which of the following best describes goods?
Items you can touch
In which situation did an alternative evaluation option occur within the search process?
Kevin searches for a new car on the Internet before visiting the "The Mile of Cars" store
Which of the following are considered aspects of the physical environment?
Living organisms Water Land
Sometimes older people join Facebook as a way to keep in touch with younger family members. Which of Maslow's needs motivates their decision to join Facebook?
Love
Which goods and services are most likely to suffer a downturn when interest rates rise?
Luxury cars
Which word best describes the social, political, economic, and technological factors with which marketers interact?
Macroenvironment
A portfolio analysis involves which of the following?
Management allocates its resources to products with the greatest potential to be profitable. Management evaluates the firm's various products and businesses.
When a company that makes protein bars for long-distance runners starts selling the same bars to busy parents as a quick breakfast, it is using which growth strategy?
Market development
Which of the following are included in the four major growth strategies?
Market penetration Product development Market development
Which cohort varies the most in age, ranging from teenagers to adults who have their own families?
Millennials
Which generation consists mostly of the children of Baby Boomers?
Millennials
Which statements about mobile marketing are true?
Most downloaded apps are free. A majority of people in the United States who have smartphones use them to make purchases. Global mobile downloads and in-app revenues are in the billions of dollars.
By the year 2055, which group is expected to remain an ethnic minority in the United States?
No single group
Which of the following is NOT an example of customer loyalty?
Only purchasing organic products
What are current trends in food marketing and distribution?
Opening grocery stores in food deserts Reducing food waste
___ is achieved through efficient operations, excellent supply chain management, and strong relationships with suppliers.
Operational excellence
Which of the following elements affect the consumer search process?
Perceived benefits versus perceived costs Actual or perceived risk The locus of control
Step 2 of a marketing plan involves which of the following?
Performing a situation analysis using SWOT
What type of blog has the fewest marketing implications?
Personal
Need recognition would be greatest in which situation?
Pete returned home from work to find that his refrigerator is broken and that his refrigerated and frozen food must be thrown out.
The political/legal environment consists of which of the following?
Political parties Laws and legislation
Value-oriented marketers engage in an ongoing process of balancing
the perceived benefit to customers and the price
Match each marketing mix component with its corresponding value function.
Product --> Creating value Price --> Capturing value Place --> Delivering value Promotion --> Communicating value
A smartphone manufacturer makes a new smartwatch that pairs well with its existing phones. This is an example of which growth strategy?
Product development
Some commonly used financial performance metrics include which of the following?
Profits Sales revenue
The International Fairtrade Certification Mark is granted to products that do which of the following?
Promote sustainable farming Improve environmental standards for producers
In the marketing mix, which element of the four Ps communicates value to the consumer?
Promotion
_____ is the component of the four Ps of marketing that is used by marketers to inform, persuade, and remind potential buyers about a product or service to influence their opinions and produce a response.
Promotion
Which items could be included in the Internet of Things?
Refrigerators Washers and dryers Coffee machines
What is true about the effect of relevant keywords on online search results?
Relevant keywords improve the ranking of a page or site.
Social media marketing is used by marketers to accomplish which of the following?
Remind buyers about the brand and its benefits Communicate the value proposition of the brand
Which of the following are related to marketing in the production-oriented era?
Retail stores were considered places to hold inventory until it was sold. Manufacturers were concerned with product innovation, not with satisfying the needs of individuals.
Which are supply chain partners?
Retailers Transporters Wholesalers
Drag and drop each good against the corresponding value it primarily provides.
Rolex watch --> Status Nike shoes --> Performance Energy bars --> Convenience
With ______, the firm first divides the marketplace into subgroups, determines which of those subgroups it should pursue, and finally decides how it should best position its product or service.
STP
To determine if an opportunity is attractive or unattractive for a firm, marketers can use an analysis of the external and internal environments such as
SWOT analysis
Betty buys hand soap for her kitchen and bathrooms in order to prevent the spread of germs. She is motivated by a which of the following needs?
Safety
Which stage in the consumer decision process comes immediately after need recognition?
Search for information
Which of Maslow's needs is the highest level of needs?
Self-actualization
Determinant attributes and consumer decision rules are examples of which of the following?
Shortcuts consumers use to simplify purchase decisions
Which of the following factors typically influence the consumer decision process the same way each time?
Social Psychological
Which statements about social media are true?
Social media facilitate interpersonal interactions. Social media are used by marketers and customers to share many kinds of information. Social media can be important components of an integrated marketing communications strategy.
Ideally, successful American firms believe that marketers should focus on which of the following beyond financial profitability?
Social responsibility Environmentally friendly options
There is increasing concern that ______ will be depleted through actions such as deforestation.
the physical environment
A company may choose to launch the same advertising campaign globally. This particular campaign may be launched with identical pictures and messages but in different languages. Advertisers might try to bridge the cultural gap by appealing to ______ across countries.
the same target market
The consumer decision process is best defined as ___
the steps consumers experience when making a purchase
The Internet of __________ occurs when there are numerous "smart devices" that work together to help both consumers and companies consume more efficiently
things
What are the components of the information effect in social media engagement?
Spreading relevant information through various channels Identifying the context and receiver of content
Which of the following are examples of strengths that could be identified in a SWOT analysis?
Strong brand recognition A reliable network of spokespeople
Firms achieve operational excellence through which of the following?
Strong relationships with suppliers Efficient operations Good supply chain management
What factors that affect a sales manager's performance are outside the manager's control?
Successful competition An economic downturn
True or false: Goals form the basis of any marketing strategy.
TRUE
Which events helped create a situation in which manufacturers produced more than customers could buy?
The Great Depression World War II
Which of the following are fundamental ideas behind the connected effect in social media engagement?
The connection in social media is bidirectional. Social media serve as a mechanism for people to share information with others.
What are components of the network effect in social media engagement?
The exponential impact of having people share information with their social media contacts The speed at which information spreads through social media
What would happen to the global economy if all marketing ceased?
The global economy would plummet.
Which are reasons why mobile marketing is increasingly important for marketers?
The majority of people who own smartphones make purchases on these devices. Mobile app downloads are growing. Consumers spend billions of dollars using apps.
The collection of all possible alternatives for a decision, even those the buyers would not consider and might not even be aware of, is referred to as the ___
universal set
In a marketing context, customers seek a fair return in goods and/or services for their hard-earned money and scarce time. They are seeking ______, which reflects the relationship of benefits to costs, or what you get for what you give.
value
In order to compete successfully, most firms today have to provide their customers with better _____ than their competitors.
value
______ reflects the relationship of benefits to costs, or "what you get for what you give."
value
What does the term strengths refer to in SWOT analysis?
The positive internal attributes of a firm
Which statement about strategic planning is true?
The process can move back and forth between steps, depending on the situation.