random mktg final t/f

Suppliers and resellers can update their accounts, arrange purchases, and check orders against inventories through ________.

a company's extranet

Which of the following is true of a good marketing information system?

It balances the information that a firm would like to have against what they really need.

Which of the following is true about customer relationship management (CRM)?

It consists of sophisticated software and analytical tools.

Which of the following statements about international marketing research is true?

Language translation in international marketing research typically increases costs and raises the risk of errors.

________ is best suited for descriptive research.

a survey

A practice called ________ allows marketers to use online data to target ads and offers to specific customers.

behavioral targeting

________ is the art and science of choosing target markets and building profitable relationships with them.

Marketing Management

Which of the following statements regarding marketing intelligence is true?

Marketing intelligence is the systematic collection, monitoring, and analysis of publicly available information.

Which of the following is true of question formats in questionnaires?

Open-ended questions are useful in exploratory research to find out what people think.

________ data consist of information collected for the specific purpose at hand.

Primary

________ marketing is defined as socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

Sustainable

A firm has a huge amount of individual customer data saved in different databases. Which of the following can be used to integrate, analyze, and apply the available information effectively?

CRM systems

________ companies research customers deeply to learn about their desires, gather new product ideas, and test product improvements.

Customer-driven

t/f: Barnacles are customers who are potentially profitable but not loyal.

false

t/f: Exploratory research would be used to gather data about the market potential for a new product.

false

t/f: In markets with few customers and high margins, sellers should try to develop basic relationships rather than full partnerships.

false

t/f: Internal databases usually are more expensive to use than other market information sources.

false

t/f: Market offerings are limited to physical products.

false

t/f: Neuromarketing techniques provide easy-to-interpret data that allow researchers to analyze consumer involvement with products.

false

t/f: Observational research is the most widely used method of primary data collection.

false

t/f: Primary data can usually be obtained more quickly and at a lower cost than secondary data.

false

t/f: Since less than ten percent of smartphone owners use their phones for shopping-related activities, mobile marketing is a slow-growing digital marketing platform.

false

t/f: The most important issue facing online researchers in the United States is the lack of a broad cross section of consumers who have access to the Internet.

false

t/f: The objective of descriptive research is to gather preliminary information that will help define the problem and form hypotheses.

false

t/f: The primary objective of causal research is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product.

false

t/f: The wording and ordering of questions is not an important consideration in survey design.

false

t/f: Xenon Corp. releases frequent updates to improve its expensive software products. This marketing approach used by the firm is most likely based on the production concept.

false

Data collection, processing, and analysis are undertaken during which stage of the marketing research process?

implementing the research plan

A not-for-profit firm uses a small convenience sample to gather data on customer reactions. It invites a small group of customers for lunch and asks them to share what they think about the products they have purchased from the firm. This is an example of ________.

informal surveys

Erica Jenson has a limited budget to conduct market research. Which of the following research approaches would provide Erica with the most cost-effective way to reach a large number of respondents in a short period?

internet-based surveys

Sample size and location have little impact on costs for ________.

internet-based surveys

Dividing a market into several sections of customers is known as ________.

market segmentation

The ________ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.

marketing

Marketers apply ________ to the large and complex sets of data they collect to gain customer insights and gauge performance.

marketing analytics

________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

marketing research

Cosmetic retailer Lush knows that doing what's right benefits both customers and the company. Their premium beauty products are made by hand from the freshest possible natural ingredients. This is an example of the ________ concept.

societal marketing

In which of the following customer relationship groups do organizations generally avoid investing?

strangers

________ are customers who show low potential profitability and little projected loyalty.

strangers

Dollar General profitably appeals to families with more modest means. The retailer's approach is most likely referred to as ________.

target marketing

Customers who are classified as true believers ________.

tell others about their good experiences with a company

Causal research is used to ________.

test hypotheses about cause-and-effect relationships

Which of the following sources constitutes the internal database of a company?

the company's sales records

Which of the following transforms marketing strategies into real values for consumers?

the four P's of marketing

Which of the following concepts is based on a customer-centered philosophy?

the marketing concept

Which of the following is a difference between the marketing concept and the selling concept?

the marketing concept focuses on customer needs, whereas the selling concept focuses on existing products

Which of the following demonstrates the real value of a company's marketing research and information system?

the quality of customer insights it provides

t/f: A brand's value proposition is the set of benefits or values it promises to deliver to consumers to satisfy their needs.

true

t/f: CRM analysts use big data and marketing analytics to unearth patterns in customer data.

true

t/f: Customer-perceived value is defined as a customer's evaluation of the perceived difference between all the benefits and all the costs of a market offering relative to those of competing offers.

true

t/f: Each population member has a known chance of being included when a probability sampling procedure is used.

true

t/f: Ideally, a sample should be representative so that a researcher can make accurate estimates of the thoughts and behaviors of the larger population.

true

t/f: In a convenience sample, a researcher selects the easiest population members from whom to obtain information.

true

t/f: In the final step of a marketing process, a company reaps the rewards of its strong customer relationships by capturing value from customers.

true

t/f: Individual interviews cost three to four times as much as telephone interviews.

true

t/f: Market offerings include entities such as people, places, information, and ideas.

true

t/f: Marketing research is the systematic design, collection, analysis, and reporting of data directly relevant to a specific marketing situation facing an organization.

true

t/f: Marketing researchers can conduct their own searches of secondary data sources by using commercial online databases.

true

t/f: Once the research problems and objectives have been defined, researchers must determine the exact information needed.

true

t/f: The major advantage of survey research is its flexibility.

true

t/f: The questionnaire is the most common research instrument.

true

t/f: The response rate in mail surveys is often very low.

true

A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy their needs.

value proposition

JetBlue's promise to put "You Above All" by "bringing humanity back to travel" is their ________.

value proposition

Harmon, a nationwide department store, uses checkout scanners to record shoppers' purchases. Which term best describes Harmon's checkout scanners?

mechanical instrument

A(n) ________ is best suited for exploratory research.

observation

What are the two main types of research instruments used to collect primary data?

questionnaires and mechanical devices

Which of the following is true of competitive marketing intelligence?

It can be obtained from information that is available in the public domain

The societal marketing concept holds that ________.

a company's marketing decisions should focus on creating economic value in a way that also creates value for the surrounding environment

Susan Hart, the manager of a children's boutique, collects data from her monthly records of sales, costs, and cash flow. In this case, Susan is making use of ________ databases.

internal

Which of the following is a quantitative approach to research?

marketing surveys

________ marketing is perhaps the fastest-growing marketing platform.

mobile

Which of the following is an advantage of primary data?

more relevant than secondary data

Which of the following is most likely a consequence of the Great Recession of 2008 to 2009?

more sensible and mindful consumption

A category of ethnographic research used to observe consumers in a natural context in virtual and mobile spaces is referred to as ________.

netnography

________ refers to working closely with people inside and outside the company to jointly bring more value to customers.

partner relationship management

The ultimate aim of customer relationship management is to ________.

produce high customer equity

The ________ concept holds that consumers will favor goods and services that offer the most in quality, performance, and innovative features.

product

Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This most likely reflects the ________.

production

PC manufacturer, Lenovo, focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Lenovo most likely follows the ________.

production concept

Information collected from commercial online databases or through Internet search engines are examples of ________ data.

secondary

________ refers to the portion of the customer's purchase that a company gets in its product categories.

share of customer

Various government agencies have launched campaigns to encourage energy conservation and concern for the environment as well as discourage smoking, illegal drug use, and obesity. This illustrates ________ marketing.

social

Many leading business and marketing thinkers are now preaching the concept of "shared value" which recognizes that ________ needs, not just economic needs, define markets.

societal

Which of the following concepts calls for sustainable marketing?

the societal marketing concept

A market is a segment of potential consumers who share a common need or want.

true

t/f: An effective MIS assesses information needs, develops needed information, and distributes the information to help managers with decision making.

true

t/f: Companies like Coca-Cola and Facebook deliver customer satisfaction by spreading happiness and connecting individuals through shared experiences.

true

t/f: Organizations that follow the societal marketing concept most likely practice socially and environmentally responsible marketing.

true

t/f: Product, price, place, and promotion make up the elements of a firm's marketing mix.

true

t/f: Success at delivering customer value rests on how well a company's entire supply chain performs against competitors' supply chains.

true

t/f: The marketing concept is a customer-centered, sense-and-respond philosophy.

true

t/f: The product concept holds that consumers will favor products that offer the most in quality, performance, and innovative features.

true

t/f: Through consumer-generated marketing, consumers themselves are playing a bigger role in shaping their own brand experiences and those of others.

true

t/f: When managers glean information from their company's accounting and sales records stored in the company computer system, they are using an internal database.

true

A customer who is both loyal and profitable is referred to as a ________.

true believer

The Amazon Prime program strives to convert casual shoppers into loyal customers. An Amazon Prime customer can be classified as a ________.

true believer

In which of the following circumstances is an organization likely to engage in full partnerships with key consumers?

when the market has few customers and high margins

Which of the following is an example of consumer-generated marketing?

Fun & Run, a local amusement park, promotes its services by allowing consumers to upload videos and write reviews about the park.

________ refers to a channel stretching from raw materials to components to final products that are carried to final buyers.

a supply chain

The initial function of a marketing information system is ________.

assessing the information needs of a company

Companies that practice marketing by ________ create offerings and messages that engage consumers rather than interrupt them.

attraction

Procter & Gamble's Tide detergent does not phone or call on all of its consumers to get to know them personally. Instead, Tide creates engagement and relationships through brand-building advertising, Web sites, and social media presence. Which of the following types of associations would be most profitable for the firm to develop with these customers?

basic relationships

Efforts to convert ________ into loyal customers are rarely successful.

butterflies

A consumer who is potentially profitable but not loyal to a firm's offerings is referred to as a ________.

butterfly

Stew Leonard's has created what has been the "Disneyland of Dairy Stores," complete with costumed characters, scheduled entertainment, and a petting zoo. It's built 30 additions onto the original store, which now serves more than 300,000 customers each week. This legion of loyal shoppers is largely a result of the store's passionate approach to customer service. Instead of focusing on individual transactions, Stew and his staff are putting a priority on ________.

capturing customer lifetime value

The final step in the marketing process is ________.

capturing value from customers

Experimental research is best suited for gathering ________ information.

casual

Vernon Inc. would like to set the best price for a new product. The firm conducts an experimental study by selling the new product at two different prices in two different locations keeping other factors constant to see if a lower price results in better sales. This is most likely an example of ________ research.

casual

Customer-driven marketing is most effective when ________.

clear needs exist and customers know what they want

Hammond Corp. operates in the highly aggressive electronics market. The firm aims to obtain early warnings of opportunities and threats caused by the actions of other firms that are doing well in the industry. Which of the following sources would best serve Hammond's purpose?

competitive marketing intelligence

Which of the following is not considered a source of competitive intelligence?

competitors' internal databases

Ethnographic research is ________.

conducted in settings where people live and work

For the past nine years, PepsiCo's Doritos brand has held a "Crash the Super Bowl" contest in which it invites 30-second ads from consumers and runs the best ones during the game. This is an example of ________.

consumer-generated marketing

The selling concept holds that ________.

consumers will not buy enough of a firm's products unless the firm undertakes large-scale persuasion and promotion efforts

Ritz-Carlton is fervently dedicated to anticipating customers' slightest needs. Without ever asking, they seem to know when customers want a king-size bed, non-allergenic pillow, extra body gel or the blinds open upon arrival. An amazing 95 percent of departing guests report that their stay has been a truly memorable experience. This is an example of ________.

customer delight

________ is the total combined customer lifetime values of all the company's current and potential customers.

customer equity

The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is referred to as ________.

customer relationship management

Cylog, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by Cylog?

customer-driving marketing

The marketing manager of Appeal Inc. has noticed a sharp decrease in sales over the last two months. The manager decides to conduct marketing research to identify potential causes for the drop in sales. Which of the following should the manager do first?

define the problem and objectives

_______ is often the most difficult but most critical step in the research process.

defining the problem and research objectives

Brooke's Boutique plans to launch a new clothing line. For this purpose, the firm first conducts a survey to understand its target audience and identify the demographics of potential buyers. It then conducts experimental research to test whether customers associate discounted prices with lower product quality. Which types of research has the boutique employed in this case?

descriptive followed by casual

Coolers Inc. has decided to launch a new energy drink that will have the fewest calories among its competitors. To understand the market potential for the new drink and the demographics and attitudes of consumers who are likely to buy the product, Coolers should most likely use ________.

descriptive research

The objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses.

exploratory

A greater focus on underlying customer needs than on existing customer wants leads to marketing myopia.

false

t/f: Big data presents marketers with big opportunities.

false

t/f: Club marketing programs reward customers who buy frequently or in large amounts.

false

t/f: Customer equity is a measure of the past value of a company's customer base.

false

t/f: Customer relationship management focuses on retaining existing customers but not on acquiring new customers.

false

t/f: Marketing is primarily concerned with engaging customers and secondarily with managing profitable customer relationships.

false

t/f: Secondary data consist of information collected for the specific purpose at hand.

false

t/f: The information collected for an internal database is typically complete and in the proper form.

false

t/f: The more loyal a firm's profitable customers, the lower its customer equity.

false

t/f: When backed by buying power, wants become needs.

false

t/f: When sellers pay less attention to the specific products they offer and more attention to the benefits and experiences produced by these products, they suffer from marketing myopia.

false