MKTG - Exam One
In the context of SWOT�internal strengths (S), weaknesses (W), external opportunities (O), and threats (T)�analysis, marketers can identify strengths and weaknesses by focusing on: employee capabilities. the aspects of the marketing environment. demographic forces. the macroenvironmental factors.
Employee Capabilities
Which of the following is a drawback of the sales-orientation and product-oriented philosophy? It gives excessive importance to the needs and wants of the marketplace. It cannot convince people to buy goods that are neither wanted nor needed. It places little emphasis on the assessment of manufacturing plants and facilities. It gives importance to the production function over other functions.
It cannot convince people to buy goods that are neither wanted nor needed.
Which of the following statements is true of marketing? It is more of a philosophy rather than an organization function. It is focused on just selling goods, services, and/or ideas. It rewards the seller and not the buyer of a transaction. It focuses on delivering value to customers.
It focuses on delivering value to customers.
Which of the following statements is true of cause-related marketing? It is the cooperative efforts of a for-profit firm and a nonprofit organization for mutual benefit It is a marketing relationship based on a straight donation? It occurs when government agencies and nonprofit agencies launch social campaigns It seldom helps companies increase the sale of their products
It is the cooperative efforts of a for-profit firm and a nonprofit organization for mutual benefit
The management of Leyton Electronics Inc. always favors market orientation over the other marketing management philosophies. In this case, which of the following is most likely to be true of Leyton Electronics Inc.? Leyton Electronics Inc. overlooks the importance of market research. Leyton Electronics Inc. manufactures products that are similar to its competitors' offerings. Leyton Electronics Inc. satisfies its customers' wants and needs legally and responsibly. Leyton Electronics Inc. lacks an understanding of its consumers needs and wants.
Leyton Electronics Inc. satisfies its customers' wants and needs legally and responsibly.
While conducting a SWOT analysis for Apple you think it would be a good idea to use the company instagram account to target younger consumers by engaging in conversations with them. The statement "use instagram to engage younger consumers" would be a Strength None of the others Weakness Opportunity Threat
None of the others
According to Maslow's Hierarchy of Needs if I buy a Rolex watch to show off to my friends and family that I am superior I am most likely fulfilling which need? Belonging Love Physiological safety Self-Esteem
Self-Esteem
A strategic business unit (SBU) refers to a single product or service identification code used to identify items for strategic marketing planning purposes. a small number of people from different departments in an organization who are mutually accountable to accomplish a task or common set of performance goals. a strategic product that has a unique brand, size, or price. a privately owned franchise under the auspices of a larger group or organization bearing the same name. a subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers.
a subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers.
In the context of SWOT�internal strengths (S), weaknesses (W), external opportunities (O), and threats (T)�analysis, which of the following can be considered as a strength of an organization? Imitable products and services A new unserved market A superior production technology Increased taxes on products
a superior production technology
Hellmann's is a brand owned by Unilever that produces mayonnaise, among other food products. If a marketing manager at Hellmann's identified that its brand managers lacked the expertise to create additional growth for the firm's products, she would likely incorporate this knowledge into its SWOT analysis as a weakness if the company does not have access to other expertise at Unilever. a strength if the company conceals this information from its competitors. an opportunity if Hellmann�s competitors have superior expertise. a threat if Hellmann�s does not have resources to develop additional expertise. part of a marketing plan; this information would not be part of a SWOT analysis.
a weakness if the company does not have access to other expertise at Unilever.
Which of the following can be considered as a demographic information of a person?� Intelligent quotient level Beliefs Skill sets Age
age
What is the factors that a company needs to focus on to be a socially responsible company? All of the others profit stakeholders Planet
all of the others
Nico wants to buy a new digital camera for his semester studying abroad but he knows very little about cameras, having never owned one. As a result, he has begun asking for advice from friends and relatives. In addition, he has talked to salespeople at a Wolf camera shop and Best Buy and he has looked at some websites. Nico is engaging in problem recognition. an internal search. the purchase decision. an external search. the creation of an antecedent state.
an external information search
To determine the market potential for its particular product or service, a firm should use GDP data. unemployment data. purchasing power parity data. inflation data. as many metrics as it can obtain.
as many metrics as it can obtain.
Prudential, a financial planning firm, offers retirement plans and wealth management advice. These products are most likely targeted toward which generational cohort? Generation Z baby busters Generation Y the silent generation baby boomers
baby boomers
Lands' End is primarily known as a catalog clothing retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's industry. competitors. target market. stakeholders.
competitiors
The group of brands a consumer would consider acceptable from among all the brands in the product class of which he or she is aware is referred to as the evaluative set. evolved set. consideration set. alternative selection group. aspiration group.
consideration set
For the marketer, a thorough ________ involves an understanding of and an appreciation for the values, customs, symbols, and language of other societies. market synthesis international sociographic study anthropological examination cross-cultural analysis ethnocentrism assessment
cross-cultural analysis
Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a ________. need value demand market offering desire
demand
Unlike the Moral Idealism theory, the utilitarian ethical theory: is not necessarily concerned with the welfare of others. upholds that an individual's duty is considered ethically correct determines choices that are socially beneficial to the most number of people to be ethically correct is free from inherent flaws that are present in all ethical theories
determines choices that are socially beneficial to the most number of people to be ethically correct
Brands can be extremely valuable domestically, but challenging internationally. Companies can help overcome language difficulties in using brands by keeping the brand name the same in all languages, regardless of meanings, as long as the brand logo and symbol are displayed prominently. avoiding the use of the brand name in advertising and focusing on features and benefits. translating advertising copy for the entire ad except for the brand name. developing brand names that have no preexisting meaning in any known language. adhering to the UN Convention on Naming Rights.
developing brand names that have no preexisting meaning in any known language.
Graham had developed an extremely successful advertising and promotion campaign for a client in the United States. The client wanted to roll out the same campaign to markets worldwide, but Graham cautioned against doing this, most likely because differences in languages, customs, and culture might make the campaign meaningless and ineffective in some markets. copyright and intellectual property concerns prevented him from wanting to share his good ideas outside of the U.S. market. he had not applied for or received international certification that was required for working outside the United States. he was unfamiliar with the code of ethics for advertising in other countries. he did not have the budget for a global rollout.
differences in languages, customs, and culture might make the campaign meaningless and ineffective in some markets.
In Latvia, only one six-lane highway exists, connecting Riga, its capital, with Moscow. Otherwise, the roads are two lanes and many are made of cobblestones or bricks. This limits the speed with which deliveries can be made and requires that delivery trucks be quite small. The road network in Latvia is an example of problems with a country's capital improvements. fixed-asset base. geopolitical wealth. asset wealth. economic infrastructure.
economic infrastructure.
The components of global market assessment include all of the following except employee analysis. infrastructure and technological analysis. analysis of government actions. sociocultural analysis. economic analysis.
employee analysis.
Culture affects how consumers decide to make their purchases. what consumers decide to purchase. when consumers decide to make their purchases. where consumers decide to make their purchases. every aspect of consumers' purchase decisions.
every aspect of consumers' purchase decisions.
The BMW StreetCarver is a $495 skateboard that features BMW's technology in its wheel suspension, which stabilizes the board's sleek design and allows for greater control around sharp curves. BMW wants its skateboard to be within the consideration set of potential skateboard buyers. In this case, it will most likely focus on reducing the postpurchase dissatisfaction that may result from purchasing its product. making sure its representatives attend sporting events such as ESPN's X-Games to get new product ideas. making appeals directed toward motivational ego needs. explaining the stability and control aspects of the StreetCarver in its advertising messages. creating personality profiles for skateboarders.
explaining the stability and control aspects of the StreetCarver in its advertising messages.
When entering a foreign market, the least risky strategy is franchising. exporting. joint venture. direct investment. strategic alliance.
exporting
Changes in tariffs and quotas are business actions stimulating imports. corporate strategies designed to maximize profits. government actions that reduce competition from international firms. efforts to stimulate choices among government agencies
government actions that reduce competition from international firms.
Ronald Systems Inc. has developed a line of appliances that run on solar energy and cause no harm to the environment. Which of the following concepts is illustrated in this scenario? Divestment Opportunism Green marketing Cause-related marketing
green marketing
Dina manages a three-story apartment building near campus. When a tenant recently moved out, she changed the locks and had another set of keys made at Home Depot, as she does every time a tenant moves. This is an example of limited decision making extended decision making situational problem solving. habitual decision making integrated problem solving.
habitual decision making
George Cooper Jr., brother of Sheldon Cooper had a brilliant idea of making a million dollars which he pitched to his father in the presence of Missy Cooper. After failing to find any customer using his approach of selling the Texas snow globe he decided to change his tactics and begain to talk with cusotmers about their memories when it snowed in texas and how they and their families reacted. Many customers became nostalgic and decided to buy the product. What do you think the customers were actually buying? The snow globe hedonic value utilitarian value functional value
hedonic value
If I buy a corvett because it makes me feel good about myself, I am buying it mainly for the ________ value it provides me. functional utilitarian hedonic value pricing
hedonic value
Stefanie is shopping for groceries at her local supermarket. As she picks up laundry detergent, she sees the display of bathroom cleaners and remembers that she is about to run out of it at home. Stefanie tries to remember the specific brand that she used last time, because she thought that was the best in terms of performance and value. In terms of the consumer buying decision process, Stefanie�s trying to remember what brand she last used is an example of _____. internal information search evaluation of alternatives post purchase evaluation evaluation of alternatives post purchase evaluation
internal information search
Hydralicious, a juice outlet, had to stop its business as health inspectors found that the storage facilities at the outlet did not meet the standards set by the government. In this scenario, a(n) _____ factor affected Hydralicious's business technological economic legal demographic
legal
Acme Inc., a manufacturer of construction and mining equipment, is based in Australia. Acme modifies the production processes of its widgets and gadgets to sell its current products in Eastern Europe. This is most likely an example of a ________ strategy. market penetration market development product diversification business harvesting product development
market development
Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as market aggregation. market segmentation. product sorting. product grouping. mass marketing.
market segmentation
A road map for the marketing activities of an organization for a specified future time period, such as one year or five years, is referred to as a marketing objective. marketing plan. marketing strategy. marketing program.
marketing plan
In recent years, many subscribers to newspapers and magazines have cancelled their print subscriptions in favor of online news. These trends have caused the StarTribune newspaper to offer online content for $1.99 per week and Newsweek to suspend its print edition in favor of an online only weekly edition. These companies had to change their ________, an action triggered by the technological and social changes in their marketing environments. organizational cultures marketing plan. goals or objectives
marketing plan
Delat Corp. is a large corporation that offers several product lines. On the company's Web site, the following content is highlighted: "The aim of our business is to achieve profitability by offering our customers high-quality products that are manufactured in a cost-effective manner. Our goals are to provide value to our customers, serve the community, and preserve the environment." This content is most likely to be Delat Corp.'s _____.? article of incorporation statement of qualification scenario planning mission statement
mission statement
If a nazi officer were at your door and you told the truth that you were indeed hiding people in your closet because you have a rule about never lying, you would be following moral idealism Incorrect Response moral relativism casuist principle utilitarian ethical theory
moral idealism
EcoBean, a chain of cafes, has introduced a Special Shopper Card that allows its customers to pay in advance for coffee and snacks. This effort by EcoBean management is most likely an example of ________. market development product development diversification penetration product adaptation
penetration
A consumer's understanding of how a product or brand performs on different attributes based on personal experience, advertising, and discussions with other people are referred to as values. perceptions. predispositions. opinions.
perceptions
Texas rice farmers wish to get their product into the Japanese market, but are hindered by a complex maze of regulations imposed by the Japanese government. The farmers are most likely to attempt to influence the _____aspect of the marketing environment. sociocultural technological competitive economic political
political
Claire has just told her best friend, "I'm so glad I bought the Samsung Galaxy S9 rather than those other smartphones I was considering. Look at this incredible display, and the battery stays charged forever." Which stage of the consumer purchase decision process does Claire's conversation identify? problem recognition information search alternative evaluation purchase decision postpurchase behavior
postpurchase behavior
Many teenagers, both male and female, have clothes they purchased in the past that they "would not be caught dead in" today. When they occasionally see those clothes hanging in the back of their closet, these teenagers probably feel cognitive bias. postpurchase cognitive dissonance. psychological risk. need recognition. physiological risk.
postpurchase cognitive dissonance.
When Julia goes for the first class of her Principles of Marketing course, she finds out that in addition to the textbook she already purchased, she also needs a copy of the book The Mary Kay Way. Julia is in the _____ stage of the consumer buying decision process. purchase evaluation of alternatives problem recognition information search pre purchase evaluation
problem recognition
The five major stages of the consumer buying decision process, in order, are information search, establishment of product criteria, evaluation of alternatives, purchase, and post purchase evaluation. problem recognition, information search, evaluation of alternatives, purchase, and post purchase evaluation. problem recognition, information search, evaluation of alternatives, pre purchase evaluation and purchase. information search, evaluation of alternatives, purchase, trial adoption period, and post purchase evaluation. problem recognition, purchase, evaluation of alternatives, post purchase evaluation, and rebuy.
problem recognition, information search, evaluation of alternatives, purchase, and post purchase evaluation.
George Cooper Jr., brother of Sheldon Cooper had a brilliant idea of making a million dollars which he pitched to his father in the presence of Missy Cooper. His idea was to buy snowglobes from a store that was going out of business for a cheap price and then sell it at a higher price. In this example the idea that was pitched by Sheldon Cooper is a process price product place people
product
Researchers at Fresnas Inc. invented a new form of glass that filters harmful rays of sunlight and blocks heat. Without researching the market conditions, Fresnas Inc. went ahead and manufactured windshields with the new glass. It hopes that customers will like its new product. In this scenario, Fresnas Inc. has adopted a _____. sales orientation production orientation market orientation societal marketing orientation
product orientation
Medtronic, a company that makes heart pacemakers, introduced a new product at medical conventions across Asia to demonstrate its many beneficial features. The convention presentations are an example of its price strategy. place strategy. promotion strategy. product strategy.
promotion strategy
The practice of shielding one or more sectors of a country's economy from foreign competition through the use of tariffs or quotas is referred to as domestic imperialism. protectionism. blocked competition. import taxation. trade restriction.
protectionism.
The form of competition in which there are many sellers and they each have a very similar product is referred to as pure competition. singular competition. an oligopoly. monopolistic competition. a monopoly.
pure competition
Prexa was offended by the brand name of a new product for women. She believed the name of the product was demeaning and that it reflected a negative attitude of the manufacturer toward women in general. Although this may simply be the result of __________, if other women interpreted the name choice the same way, it is likely this product would fail. selective retention selective comprehension selective exposure selective analysis stimulus discrimination
selective comprehension
If you read the chapters from your marketing textbook the night before this test and still could not remember several of the definitions for marketing terms, you may be experiencing selective retention. selective comprehension. selective exposure. selective perception. subliminal perception.
selective retention.
Three teenage girls spent an hour at a store trying on various outfits, looking at possible combinations, and asking each other, "How do you think this looks on me?" This situation is most closely related to which of the following influences? purchase task social influence physical surroundings economic influence psychological influence
social influence
The Classic Hotel Group has begun to offer entire floors of rooms in its hotels that are smoke-free, adults-only, and pet-friendly. The Classic Hotel Group is responding to changes in: technology. the legal environment. demographics. socio/cultural values.
socio/cultural values.
People for the Ethical Treatment of Animals (PETA) have held protests against the sale of coats made of animal furs. PETA's efforts to change shoppers' attitudes represent a ____ force for fur retailers. technological political sociocultural self-regulatory controllable
sociocultural
While playing soccer Bryan suddenly fell and broke his arm. On his way to the hospital, he sees a billboard for The Cleveland Clinic promoting its time-text service where he can call the number GET-TXT-TIME, and they will text him the approximate waiting time at the closest three hospital locations. Thus, the Cleveland Clinic is providing enhanced service to its patients by capitalizing on the _____ environmental force. economic competitive political legal and regulatory technological
technological
Consumer behavior refers to the aspects of a consumer's decision making processes that cannot be measured. the actions a person takes in purchasing and using products and services to receive value, including all the mental and social processes that occur before and after. the five stages a buyer passes through in making choices about which product and service to investigate, purchase, and consume. the mental and social processes related to purchasing that are innate in a person from birth. those purchasing behaviors that result from repeated experience and reasoning.
the actions a person takes in purchasing and using products and services to receive value, including all the mental and social processes that occur before and after.
Marketing refers to the production of products or services that will generate the highest return on investment. the strategies used in the advertising and promotion of products and services to customers around the globe. the process of identifying target market segments for a product or service and using selling tactics to reach them. the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers. the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
In terms of the global marketplace, there are three primary types of companies: international firms, multinational firms, and transnational firms. The key factor that distinguishes one from another is the firm's financial capacity to take risks. the willingness and ability to use diversity and cultural differences as a positive in its marketing efforts. the firm's level of customization in marketing efforts as strategy for individual global markets. the relative position of the product or service in terms of its life cycle. the relative size of the firm both in financial terms and in production capacity.
the firm's level of customization in marketing efforts as strategy for individual global markets.
GDP is defined as the value of a country's exports minus its imports. the difference between two country's exchange rates. the market value of goods and services produced in a country in a year. national income minus national taxes. the gross purchasing power of domestic goods and services plus international income.
the market value of goods and services produced in a country in a year.
The primary value that a marketer expects to receive from a customer in an exchange relationship is: the price charged for the product. customer satisfaction. references to other potential customers. quality merchandise that meets expectations. few returns of the merchandise purchased.
the price charged for the product.
In marketing, the idea of exchange refers to the negotiation phase between the manufacturer and the seller. the financial remuneration (monetary payment) for a product or service. the trade of things of value between buyer and seller so that each is better off after the trade. the bartering of products and services between nongovernmental organizations or individuals. the practice of swapping products and services for other products and services rather than for money.
the trade of things of value between buyer and seller so that each is better off after the trade.
The Coca Cola Company has recognized the significant increase in population diversity within the U.S. soft-drink market. Which one of the following best illustrates the company's integration of this knowledge into its marketing strategy? Ads featuring nostalgic Americana Bonus coupons in Cola twelve-packs Ads featuring Hispanic actors and Tejano music Ads in The New Yorker and Reader's Digest Ads aimed at children
Ads featuring Hispanic actors and Tejano music
In the context of the Boston Consulting Group's (BCG's) portfolio matrix, which of the following is a similarity between stars and cash cows? Both have rapid growth potential but poor profit margins.� Both have a low growth potential. Both have a high market share in their respective markets. Both have a low market share in their respective markets.
Both have a high market share in their respective markets.
Which of the following products would the electronics company CypressSound classify as a cash cow in its BCG matrix? Cyan�a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily Boosh�a home entertainment system that has a strong market share in a market that is likely to expand in the future Xpress�an MP3 player that has a high market share in a market that is not expected to grow significantly AutoPlay�a car audio system that has a high market share in a market that has been growing constantly Unipress�a CD player that has a very low market share in a market that is shrinking rapidly
Xpress�an MP3 player that has a high market share in a market that is not expected to grow significantly
People with both the desire and ability to buy a specific offering are referred to as shoppers. a customer base. qualified prospects. a market. candidates.
a market
The energizing drive that stimulates behavior to satisfy a need is referred to as a personality. an antecedent state. a motivation. a cognitive dissonance. a perception.
a motivation
Lever Europe, a division of Unilever, markets Snuggle fabric softener. But in 10 European countries, it uses seven brand names, including Kuschelweich in German, Coccolino in Italy, and Mimosin in France. These products also have different packages, different advertising programs, and occasionally different formulas. From this information, we can assume that Lever Europe uses ________ marketing strategy. an ethnocentric a transnational a global an international a multidomestic
a multidomestic
The world's largest manufacturer of peppermint candy canes was located in Albany, Georgia, until it could no longer afford to buy the sugar needed for its operation. It moved its manufacturing business to Mexico where there are no restrictions (like those that exist in the United States) on the amount of sugar that can be brought into the nation. The business moved to Mexico because of ________ established by the U.S. government. a tariff a trade imbalance an excise tax a subsidy a quota
a quota
