mktg exam 1 ALL

What are the five stages of the consumer adoption​ process, in the correct​ sequence? A. Awareness, interest,​ evaluation, trial, and adoption B. Awareness, trial,​ evaluation, interest, and adoption C. Awareness, interest,​ trial, evaluation, and adoption D. Awareness, trial,​ interest, evaluation, and adoption E. Awareness, evaluation,​ interest, trial, and adoption

A. Awareness, interest,​ evaluation, trial, and adoption

__________ are part of the buyer's black box and produce certain responses. A. Buyer characteristics B. Buying attitudes and preferences C. Economic, technological, social, and cultural stimuli D. Marketing stimuli

A. Buyer characteristics

__________ refers to a prescribed number of people in each of several categories who are identified and interviewed by the researcher. A. Quota sample B. Secondary data C. Primary data D. Sample

A. Quota sample

The fourth step in the marketing research process is​ ________. A. interpreting and reporting the findings B. developing a research plan and interpreting and reporting the findings C. gathering, processing,​ analyzing, interpreting, and reporting the findings D. processing, analyzing,​ interpreting, and reporting the findings E. gathering, processing, and analyzing the data

A. interpreting and reporting the findings

The best​ ________ is the one that best fits the​ company's strengths and weaknesses to opportunities in the environment. A. marketing plan B. business portfolio C. strategic plan D. functional plan E. product portfolio

B. business portfolio

__________ is the stage of the buyer decision process in which the consumer is motivated to locate more information. Incorrect answer A. Need recognition B. Information search C. Purchase decision D. Alternative evaluation

B. Information search

Companies must manage the​ ________, which often includes many different buying decisions in various stages of the buying decision process. A. sales process B. overall customer relationship C. proposal and solicitation process D. marketing process E. supply chain management process

B. overall customer relationship

​________ companies research customers deeply to learn about their​ desires, gather new product​ ideas, and test product improvements. A. Product​ development-driven B. Customer-conscious C. Product-driven D. Customer-driven E. Market​ research-oriented

D. Customer-driven

The second purpose of government regulation is to​ _____________________. A. protect companies from each other B. regulate and constrain companies C. punish companies for unlawful behavior D. protect the interests of society against business competition E. protect consumers from unfair business practices

E. protect consumers from unfair business practices

Selling and advertising are part of a larger set of marketing tools that work together to satisfy customer needs and build customer relationships known as​ ________. A. the marketing concept B. customer-engagement marketing C. customer equity D. market offerings E. the marketing mix

E. the marketing mix

Another strategy for creating value and building strong customer relationships includes​ ________, which means working closely with others inside and outside the company to jointly engage and bring more value to customers. A. customer engagement marketing B. joint venturing C. strategic vendor management D. customer relationship management E.partner relationship management

E.partner relationship management

The Sherman Antitrust Act __________. A. prohibits monopolies and activities (price-fixing, predatory pricing) that restrain trade or competition in interstate commerce B. forbids the manufacture or sale of adulterated or fraudulently labeled foods and drugs C. monitors and remedies unfair trade methods D. prohibits certain types of price discrimination, exclusive dealing, and tying clauses (which require a dealer to take additional products in a seller's line)

A. prohibits monopolies and activities (price-fixing, predatory pricing) that restrain trade or competition in interstate commerce

Software and analytical techniques that​ integrate, analyze, and apply the mountains of individual customer data to gain a​ 360-degree view of customers enable companies to​ ________________________. A. practice customer relationship management B. get to know their customers personally C. perform market research D. develop large customer datasets E. find new customers

A. practice customer relationship management

The cultural environment consists of​ ________ that affect a​ society's values,​ perceptions, preferences, and behaviors. A. institutions B. diverse cultural settings C. cultural beliefs and forces D. a​ population's set of beliefs E. institutions and forces

E. institutions and forces

The ultimate aim of customer relationship management is to produce high​ _____. A. share of customer B. customer equity C. satisfaction D. sales volume E. customer-engagement marketing

B. customer equity

__________ are part of the environment that enter the consumer's black box and produce certain responses. A. The buyer's characteristics B. Buying attitudes and preferences C. Purchase behavior D. Economic, technological, social, and cultural stimuli

D. Economic, technological, social, and cultural stimuli

Which of the following is a personal characteristic influencing a​ consumer's buying​ behavior? A. Social networks B. Status C. Motivation D. Occupation E. Family

D. Occupation

Marketing must also partner effectively with other companies in the marketing system to form a competitively superior​ ________. A. supply chain network B. vendor chain network C. functional delivery network D. value chain E. value delivery network

E. value delivery network

In analyzing a​ company's current business​ portfolio, what is​ management's first​ step? A. Determine the​ company's target market B. Outline the​ company's mission statement C. Perform a SWOT analysis D. Determine the​ company's goals E. Identify strategic business units

E. Identify strategic business units

A local drama club wants to increase the membership and attendance at its performances. To do​ so, it hosts free​ shows, starts​ poetry-reading nights, and sends volunteers to the local high school. What is the drama club engaging​ in? A. Market research B. Product placement C. Advertising D. Building customer relationships E. Market exchange

E. Market exchange

To analyze individual customer​ data, many companies have now acquired or developed special software and analysis techniques called​ ________. A. customer relationship management​ (CRM) B. market intelligence software C. business intelligence software D. business and market intelligence software E. business analytics software

A. customer relationship management​ (CRM)

Firms that develop strategies to change the​ environment, instead of assuming that strategic options are bounded by the current​ environment, are being​ _______. A. proactive B. cautious C. shortsighted D. reactive E. passive

A. proactive

Business marketers are increasingly connecting with customers online and through​ digital, mobile, and social media to​ ________, __________,​ __________, ___________, and maintain ongoing customer relationships. A. discourage customers from shopping at​ brick-and-mortar locations, share marketing​ information, sell products and​ services, provide customer support services B. primarily sell products and​ services, share marketing​ information, provide customer support​ services, provide logistical information C. engage​ customers, share marketing​ information, sell products and​ services, provide customer support services D. engage​ customers, engage​ salespersons, share marketing​ information, sell products and services E. primarily engage​ customers, share marketing​ information, sell​ products, and provide customer services

C. engage​ customers, share marketing​ information, sell products and​ services, provide customer support services

The mission is transformed into detailed supporting goals and​ objectives, which in turn guide decisions about the business portfolio. Then each business and product unit must develop detailed​ ________ plans in line with the​ company-wide plan. A. product development B. sales C. functional D. strategic E.revenue

C. functional

Marketing departments can be organized in a number of ways.​ However, more and more companies are changing organizational focus from​ ________ to​ ________. A. product management​ organization; market management organization B. customer relationship​ management; product or territory management C. customer relationship​ management; functional marketing organization D. product or territory​ management; customer relationship management E. product or territory​ management; functional marketing organization

D. product or territory​ management; customer relationship management

The natural environment involves​ __________________ that are needed as inputs by marketers or that are affected by marketing activities. A. sustainable resources and natural resources B. the physical environment and natural resources C. the physical environment and sustainable resources D. the physical environment and economic environment E. the natural resources and economic environment

B. the physical environment and natural resources

Which type of business buying situation offers marketers not only the greatest​ opportunity, but also the greatest​ challenge? A. A request for proposal B. A straight rebuy C. A new task situation D. A buying center purchase E. A modified rebuy

C. A new task situation

The Council of American Survey Research Organizations​ (CASRO) Code of Standards and Ethics for Survey Research outlines researcher responsibilities to survey respondents. Choose the most comprehensive set of responsibilities from the following. A. Privacy and avoidance of harassment B. Confidentiality and privacy C. Confidentiality, privacy, and avoidance of harassment D. ​Confidentiality, data​ security, and avoidance of harassment E. Confidentiality, privacy, data​ security, and avoidance of harassment

C. Confidentiality, privacy, and avoidance of harassment

There are several types of objectives market researchers might use in a marketing research project. Which of the following are the primary types of​ objectives? A. Exploratory​ research, descriptive​ research, and survey research B. Demographic​ research, exploratory​ research, and attitudinal research C. Exploratory​ research, descriptive​ research, and causal research D. Descriptive​ research, survey​ research, and causal research E. Exploratory​ research, secondary​ research, and primary research

C. Exploratory​ research, descriptive​ research, and causal research

Which of the following is NOT one of the typical advantages of​ e-procurement systems? A. Eliminating paperwork B. Reducing time between order and delivery C. Improving​ customer-supplier relationships D. Allowing buyers to focus on more strategic issues E. Finding better supplier resources

C. Improving​ customer-supplier relationships

The marketing process consists of five key steps. Which of the following is the first​ step? A. Design a​ customer-driven marketing strategy B. Understand customer needs and wants C. Understand the marketplace and customer needs and wants D. Construct a marketing program that actually delivers superior value E. Get, engage, and grow target customers

C. Understand the marketplace and customer needs and wants

The marketing process captures value from customers by __________. A. constructing an integrated marketing program that delivers superior value B. building profitable relationships and creating customer delight C. creating profits and customer equity D. understanding the marketplace and customers' needs and wants

C. creating profits and customer equity

Understanding​ needs, wants, and demands helps companies to design market offerings and build​ value-laden customer relationships through which they can capture​ ____________________________. A. customer lifetime value and greater share of customer equity B. greater customer equity and greater share of market C. customer lifetime value and greater share of customer D. great international market share and greater customer equity E. a greater share of customer and greater share of customer equity

C. customer lifetime value and greater share of customer

After creating a​ company's mission and​ objectives, the executive team must then plan​ ____________ by keeping in mind the best fit for its​ strengths, weaknesses, and opportunities in the environment. A. revenue goals and objectives B. its overall growth strategy C. its business portfolio D. its research and development efforts E. individual department objectives

C. its business portfolio

Rather than simply watching and responding to environmental​ events, firms can be proactive by​ ____________. A. following existing laws B. monitoring social media C. pressing lawsuits to keep competitors in line D. reacting to changes in the environment as they occur E. waiting for other firms to respond to changes in the environment

C. pressing lawsuits to keep competitors in line

Other companies do not see the marketing environment as uncontrollable. They take a​ ________ stance toward the marketing environment and develop strategies to​ ________ the environment. A. wait-and-see; adapt to B. reactive; change C. proactive; change D. proactive; adapt to E. reactive; adapt to

C. proactive; change

According to the​ text, __________ are perhaps the most dramatic forces affecting​ today's marketing strategies. A. demographic forces B. natural forces C. technological forces D. political forces E. economic forces

C. technological forces

The __________ prohibits certain types of price discrimination, exclusive dealing, and tying clauses (which require a dealer to take additional products in a seller's line). A. Federal Trade Commission Act B. Federal Food and Drug Act C. Sherman Antitrust Act D. Clayton Act

D. Clayton Act

Why is good marketing management​ critical? A. To ensure that the company has a positive image in the eyes of the community Your answer is not correct. B. To ensure that products are promoted well enough to encourage a large flow of customers C. To ensure that investments are properly spent in order to maximize profits D. To ensure that the company serves as many customers as it can and as well as it can E. To ensure that the company is always on the cutting edge of product development

D. To ensure that the company serves as many customers as it can and as well as it can

In the __________ stage, the consumer considers whether trying the new product makes sense. A. interest B. trial C. awareness D. evaluation

D. evaluation

Some marketers face special marketing research​ situations, such as those conducting research in small​ business, not-for-profit, or international situations. International researchers deal with great variances in​ ________, __________,​ __________, and​ ___________. A. levels of economic​ development, cultures and​ customs, buying​ patterns, and scarcity of primary data B. the political​ environment, cultures and​ customs, buying​ patterns, and scarcity of secondary data C. cultures and​ customs, buying​ patterns, lack of government​ cooperation, and scarcity of secondary data D. levels of economic​ development, cultures and​ customs, buying​ patterns, and scarcity of secondary data E. levels of economic​ development, buying​ patterns, scarcity of secondary​ data, and lack of cooperation from international entities

D. levels of economic​ development, cultures and​ customs, buying​ patterns, and scarcity of secondary data

Which of the following describes the current trend in businesses regarding relationships with​ customers? A. Hand-pick the most profitable customers and allow them more input. B. Find a few customers and develop strong relationships with them. C. Maintain strong relationships with as many customers as possible. D. Gather as many customers as possible on a surface level. E. Avoid developing relationships with customers at all.

A. Hand-pick the most profitable customers and allow them more input.

Marketers need to understand and know the answers to several key questions when dealing with buying centers. Of the​ following, which is NOT one of those key​ questions? A. Is price a major factor or is the buying center price​ sensitive? B. What major influences impact the buying center​ decision? C. What evaluation criteria does each decision participant​ use? D. Who are the major buying center​ participants? E. In what decisions do they exercise influence and to what​ degree?

A. Is price a major factor or is the buying center price​ sensitive?

There have been dramatic changes in the political environment that affect marketing. Which of the following does NOT represent one of those​ changes? A. Strong emphasis on free trade and open borders B. Greater emphasis on ethics C. Increasing legislation regulating business D. Greater emphasis on social responsibility E. Strong government agency enforcement

A. Strong emphasis on free trade and open borders

Which marketing management orientation holds that a firm should have a customer focus to achieve sales and​ profits? A. The marketing concept B. The selling concept C. The societal marketing concept D. The product concept E. The production concept

A. The marketing concept

What is the importance of selling and advertising in​ marketing? A. They work in tandem with building customer relationships. B. They emphasize the need for marketing myopia. C. They are not essential if the product is good. D. They can substitute for a faulty product. E. They work only with product placement and promotion.

A. They work in tandem with building customer relationships.

Many companies see the marketing environment as uncontrollable. They​ ________ that will help the company avoid the threats and take advantage of the opportunities the environment provides. A. analyze environmental forces and design strategies B. analyze environmental forces and execute strategies C. analyze microenvironmental forces and execute strategies D. analyze macroenvironmental forces and execute strategies E. do not analyze environmental forces and design strategies

A. analyze environmental forces and design strategies

Denim Blue Jean Corporation is a growing company located in Washington​ State, but it is beginning to develop a presence in the surrounding states as well. It sells only one product-blue jeans-but it has 12 different lines of jeans that cater to​ men, women,​ children, babies,​ toddlers, and teens. Which type of marketing department organization would BEST suit Denim Blue Jean​ Corporation? A. Geographic organization B. Market management organization C. Product management organization D. Combination organization E. Functional organization

B. Market management organization

__________ is gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior. A. Observational research B. Survey research C. Experimental research D. Ethnographic research

B. Survey research

​Today's marketers see information not only as a tool for input for better​ decision-making, but also as​ ___________________________. A. an excellent resource to gather information on competitors B. an important strategic asset and marketing tool C. a way to gather big data and perform analytics D. a​ revenue-generation tool E. a way to provide useful customer insights

B. an important strategic asset and marketing tool

Which stage of the business buying decision process involves ranking the importance of​ reliability, durability, and​ price? A. product specification B. general need description C. supplier search D. proposal solicitation E. supplier selection

B. general need description

A value chain consists of which of the​ following? A. Customers who assign value to products within the company B. An acquisitions team that buys products for the company to sell C. Internal departments and other companies that carry out​ value-creating activities D. A chain of SBUs within a company that provide the most value E. The network of distributors and suppliers that support a company

C. Internal departments and other companies that carry out​ value-creating activities

What are the eight steps in the business buying decision​ process, in the correct​ sequence? A. Performance​ review, problem​ recognition, general need​ description, product​ specification, supplier​ search, proposal​ solicitation, supplier​ selection, and​ order-routine specification B. Problem​ recognition, general need​ description, product​ specification, supplier​ search, supplier​ selection, proposal​ solicitation, order-routine​ specification, and performance review C. Problem​ recognition, general need​ description, product​ specification, supplier​ search, proposal​ solicitation, supplier​ selection, order-routine​ specification, and performance review D. Problem​ recognition, general need​ description, product​ specification, supplier​ selection, supplier​ search, proposal​ solicitation, order-routine​ specification, and performance review E. General need​ description, problem​ recognition, product​ specification, supplier​ search, proposal​ solicitation, supplier​ selection, order-routine​ specification, and performance review

C. Problem​ recognition, general need​ description, product​ specification, supplier​ search, proposal​ solicitation, supplier​ selection, order-routine​ specification, and performance review

What is the mistaken assumption that​ business-to-business companies often make about digital and social​ media? A. That digital and social media require teams of specialists B. That digital and social media choices are confined to Twitter and Facebook C. That digital and social media are useful primarily to consumer products and services companies D. That digital and social media yield little except for brand awareness E. That digital and social media are only effective with large expenditures

C. That digital and social media are useful primarily to consumer products and services companies

​Bertram's Beer structures its company in such a way as to encourage its most profitable older customers to remain loyal while also targeting a new generation of customers. What is​ Bertram's Beer attempting to​ build? A. Share of customer B. Customer loyalty C. Customer lifetime value D. Customer equity E. Partner relationships

D. Customer equity

The marketing environment is __________. A. any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives B. the actors close to the company that affect its ability to serve its customers—the company, suppliers, marketing intermediaries, customer markets, competitors, and public C. the larger societal forces that affect the microenvironment—demographic, economic, natural, technological, political, and cultural forces D. the actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers

D. the actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers

Which of the following statements regarding the business market is​ correct? A. The business market is not as large as the consumer market in terms of dollars spent and items purchased. B. The business market has more buyers than the consumer market. C. In the business market buying​ process, buyers and sellers are less dependent on each other than in the consumer market. D. Business buying decisions are less complex than consumer buying decisions. E. Many sets of business purchases are made for one set of consumer purchases.

E. Many sets of business purchases are made for one set of consumer purchases.

The key to learn about and engage with individual customers is to blend the new digital technologies and approaches with traditional marketing to create​ _______________________. A. customer-focused digital applications B. comprehensive marketing plans C. superior social​ media, mobile​ apps, and television advertising D. promotions with wide customer appeal E. a smoothly integrated marketing strategy and mix

E. a smoothly integrated marketing strategy and mix