question

The definition of marketing implies that ____ should receive benefits from exchange relationships. A. both customers and businesses B. company management C. only the most important customers D. only customers E. only businesses

answer

A. both customers and businesses

question

Organizations should define themselves not according to the products they produce but according to __________. A. how they satisfy customers. B. how they treat employees. C. how profitable they are. D. the abundance of their product selection. E. the price of their stock.

answer

A. how they satisfy customers.

question

Marketing managers strive to develop a marketing mix that... A. matches the needs of the target market. B. best matches the abilities of the firm. C. generates the highest level of sales. D. minimizes marketing costs. E. matches what competitors are offering.

answer

A. matches the needs of the target market.

question

Taco Bell is introducing some of its products into supermarkets, vending machines, college campuses, and other locations to increase its product availability and convenience. One reason Taco Bell is doing so is to... A. decrease promotion expenses. B. decrease customer benefits. C. increase customer costs. D. increase customer value. E. increase distribution expenses.

answer

D. increase customer value.

question

Safeway Foods Corporation is involved in identifying and analyzing a target market. The firm then develops a marketing mix to satisfy individuals in that market to gain long-term competitive advantages. Based on this example, Safeway is creating a... A. corporate strategy. B. mix strategy. C. target design. D. marketing tactic. E. marketing strategy.

answer

E. marketing strategy.

question

To formulate a marketing strategy, one must... A. develop a statement of what is to be accomplished through marketing activities. B. determine marketing objectives. C. develop plans for implementation and control. D. identify and analyze a target market and develop a marketing mix to satisfy individuals in that market. E. develop an adequate marketing control process.

answer

D. identify and analyze a target market and develop a marketing mix to satisfy individuals in that market.

question

Apple has made a success from anticipating what consumers would want in new technological advances, convenience, and ease of use. The introduction of the iPad was an example of a _____ for Apple, something that an organization does extremely well and may give a company an advantage over its competition. A. marketing opportunity B. core competency C. sustainable competitive advantage D. strategic vision E. benchmark

answer

B. core competency

question

When the right combination of circumstances occurs at the right time to allow an organization to take action toward a target market, the firm is faced with a... A. market objective. B. strategic market plan. C. market opportunity. D. corporate objective. E. market requirement.

answer

C. market opportunity.

question

A competitive advantage exists when a... A. firm matches a core competency to opportunities it has discovered in the marketplace. B. combination of circumstances and timing allow a firm to reach an attractive target market. C. firm observes a fit between the key requirements of a market and its own capabilities. D. firm has a strong marketing plan. E. firm does marketing better than its competitors.

answer

A. firm matches a core competency to opportunities it has discovered in the marketplace.

question

An analysis of ____ examines internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets. A. market opportunities B. organizational resources C. opportunities and threats D. activities and responsibilities E. strengths and weaknesses

answer

E. strengths and weaknesses

question

Abercrombie & Fitch is developing a program to get to know its customers. Which of the following is NOT a reason why A&F needs to understand consumer buying behavior? A. it helps the marketer predict how consumers will respond to marketing strategies B. customer's reactions to marketing strategy can impact the firm's success C. a firm should create a marketing mix that satisfies customers D. the marketing concept stresses that a firm should know its customers E. all customers are the same when it comes to buying behavior

answer

E. all customers are the same when it comes to buying behavior

question

Yin is purchasing his third car in the past five years. He has been a car enthusiast ever since he was a young boy. Yin likes to spend his free time looking at car magazines, going to car shows, and watching NASCAR. Yin's interest in cars is referred to as A. dynamic involvement. B. dynamic buying behavior. C. situational buying behavior. D. situational involvement. E. enduring involvement.

answer

E. enduring involvement.

question

Claire is a market research analyst for a global consulting firm. She will be traveling to London next month to present her research to a meeting of company executives from around the world. This presentation could be instrumental in the company's decision of whether she should be promoted at the end of this year. Claire has been thinking about the trip, which will be the first time she has been out of the country. She has decided to retire the old college luggage for a more professional-looking version and has begun to evaluate various brands. Claire is most likely facing _____ for this particular purchase. A. perceptual involvement. B. selective retention. C. internal retention. D. enduring involvement. E. situational involvement.

answer

E. situational involvement.

question

While shopping at a local grocery store, Danielle sees a display of her favorite brand of energy drink. She buys some to take home for the weekend. This purchase process would best be described as A. extended decision making. B. routinized response behavior. C. enduring involvement. D. limited decision making. E. situational perception.

answer

B. routinized response behavior.

question

Marcus is working on an advertising campaign for RainbowLight Vitamins. He tells his manager Bobbi that showing the ad more times will correlate to higher sales. From a consumer behavior perspective, why is Marcus likely to be wrong about his assumed correlation? A. Consumers may habituate to the ad and begin to ignore it. B. Consumers do not buy vitamins. C. Consumer purchase behavior is driven by word-of-mouth and not by advertising. D. Consumers are highly involved with vitamin purchases and are not influenced by advertisements. E. RainbowLight is not in the consumers' consideration sets.

answer

A. Consumers may habituate to the ad and begin to ignore it.

question

Patricia is a promotion-focused consumer looking to buy a new flat-screen TV. Which marketing message will probably be most influential on her decision? A. "This TV has a vivid picture quality that makes you feel like part of the show!" B. "This TV has a vivid picture quality so you will not strain your eyes!" C. "This TV does not require bulb replacements!" D. "This TV comes with a 3-year manufacturer's warranty!" E. "This TV is lightweight so that wall-mount installation will not be difficult!"

answer

A. "This TV has a vivid picture quality that makes you feel like part of the show!"

question

Which of the "human universals" is most likely to be satisfied by purchasing a sports car? A. Avoiding disease B. Keeping a mate C. Caring for family D. Attaining status E. Evading physical harm

answer

D. Attaining status

question

The use of marketing research is A. limited strictly to large corporations. B. controlled by the federal government. C. limited to for-profit businesses of all sizes. D. widespread throughout business and nonprofit organizations. E. carefully monitored by each state's trade agencies.

answer

D. widespread throughout business and nonprofit organizations.

question

All of the following are steps in the marketing research process EXCEPT A. collecting data. B. reporting research findings. C. understanding your customer. D. interpreting research findings. E. designing the research project.

answer

C. understanding your customer.

question

Costco believes that most of its sales are to small businesses rather than consumers -- and that women are more likely to be making the purchasing decisions. This is an example of a(n) ____ that Costco could test through marketing research. A. hypothesis B. experimental question C. sampling error D. descriptive sample E. conceptual error

answer

A. hypothesis

question

When more information is needed about a problem and a tentative hypothesis needs to be made more specific, marketers usually conduct ____ research. A. exploratory B. descriptive C. experimental D. conclusive E. analytical

answer

A. exploratory

question

Research that allows marketers to make causal inferences about relationships is called A. exploratory research. B. experimental research. C. relationality. D. variable research. E. linkage research.

answer

B. experimental research.

question

Marketing researchers at Nike decided to test several new designs and colors of shoes with its young, urban target market. The shoe colors used in the experiment were bright yellow, light blue, bright green, red, and black. Nike repeated the particular experiment several times in different large cities and discovered that the results produced each time were nearly identical. The participants preferred the green, red, and black. However, when the shoes were produced, the sales were higher for the plain white version, the black, and red. The sales of the bright green were very low. Nike couldn't understand why the test results were consistent, but the results didn't match with the actual sales. This phenomenon would indicate that the test results were _____ but not _____. A. reliable; valid B. compatible; valid C. predictable; compatible D. compatible; useful E. valid; reliable

answer

A. reliable; valid

question

Mika is the marketing research manager for a company that sells skis and other sporting equipment. His company currently has a profitable brand and a good share of the traditional ski market, but would like to enter the "extreme" category of winter sports. Mika needs to obtain information about consumer attitudes of the company's current products as well as attitudes of potential customers in the "extreme" consumer market. He does not have constraints on time, but he does have a modest budget for research. Mika should probably use _____ to obtain the data about the company's current products, and _____ to obtain information about the extreme consumers' attitudes. A. Telephone surveys; focus groups B. Personal interview surveys; online surveys C. Crowdsourcing; online surveys D. Online surveys; focus groups E. Focus groups; mail surveys

answer

D. Online surveys; focus groups

question

If a marketing researcher is interested in observing group interaction during an informal, semi-structured, and open-ended data collection process, he or she should use... A. an on-site computer interview. B. a telephone survey. C. observation. D. a shopping mall intercept interview. E. a focus-group interview.

answer

E. a focus-group interview.

question

Which of the following is NOT a requirement or characteristic of a market? A. A large number of people or organizations B. The need for a specific product in a specific product category C. The ability to purchase a product D. The willingness to use buying power E. The authority to buy a product

answer

A. A large number of people or organizations

question

The Pillsbury company defines all individual consumers who are purchasers of flour as its target market. It also defines all businesses who purchase flour as its target market. What targeting strategy would be most appropriate in this case? A. Clustered B. Wide appeal C. Differentiated D. Concentrated E. Undifferentiated

answer

C. Differentiated

question

Why would a company use the undifferentiated strategy? A. The undifferentiated strategy is the one strategy that provides maximum satisfaction to the whole market. B. When a market is made up of individuals or organizations with diverse need for products in a specific product class. C. The needs of individual consumers in the target market for a specific product are similar, so the organization can satisfy most customers with a single marketing mix. D. The undifferentiated strategy is expensive to implement but tends to produce the most sales. E. The needs of individual consumers are dissimilar, and distinctive marketing mixes are required to satisfy them.

answer

C. The needs of individual consumers in the target market for a specific product are similar, so the organization can satisfy most customers with a single marketing mix.

question

The purpose of market segmentation is to A. reduce the overall cost of marketing activities. B. identify a single marketing mix that will be satisfactory for the general market. C. differentiate products. D. meet the needs of homogeneous markets. E. divide a total market to enable a marketer to develop a more precise marketing mix.

answer

E. divide a total market to enable a marketer to develop a more precise marketing mix.

question

TimeWarner Cable uses a segmentation strategy for its cable TV packages based on market characteristics such as age, gender, or income. Which of the following segmentation variables is TimeWarner using? A. Education B. Demographic C. Psychographic D. Geographic E. Product-related

answer

B. Demographic

question

A TV commercial for antacid tablets features a spokesperson wearing a doctor's coat and stethoscope while describing the product's features. The antacid brand is probably trying to ... A. make consumers laugh B. make consumers infer a higher price C. condition consumers to think about antacid tablets whenever they see a doctor D. test the boundaries of the Federal Communications Commission E. increase source credibility

answer

E. increase source credibility

question

Beauty, humor, pleasant music, and sex appeal are effective in TV advertising mostly because... A. consumers dedicate a low amount of processing effort to commercials B. consumers are not smart enough to understand products C. consumers habituated to these cues D. consumers are highly involved in the decision making process E. consumers fast forwarding through the DVR will usually stop to watch the commercials

answer

A. consumers dedicate a low amount of processing effort to commercials

question

The #puppymonkeybaby Mountain Dew commercial we watched in class annoyed some consumers but it was probably still considered a success because... A. young children will ask for Mountain Dew Kickstart by name B. the media and consumers shared and talked about the commercial during and after the Super Bowl C. the "sleeper effect" makes consumers wake up thinking about the puppy, monkey, and baby creature D. Mountain Dew changed their brand image through nostalgia E. the new product features were the main emphasis of the commercial

answer

B. the media and consumers shared and talked about the commercial during and after the Super Bowl

question

The Hyundai Super Bowl commercial with comedian Kevin Hart was rated the #1 best commercial by consumers nationwide according to AdMeter, probably because... A. The writing for the commercial was edgy, fresh, and funnier than any other commercial B. Kevin Hart is liked by a small segment of consumers who make up Hyundai's target market C. Kevin Hart is a controversial and highly disliked celebrity who increased chatter about the commercial D. People love the Hyundai brand more than the other brands who aired Super Bowl commercials E. Kevin Hart is well-liked, funny, and appeals to the mass market

answer

E. Kevin Hart is well-liked, funny, and appeals to the mass market

question

The Doritos Super Bowl commercial with the ultrasound and the baby going after the Doritos chip that was thrown on the floor was a popular commercial because... A. The commercial was funny, novel, and surprising B. New mothers are the target market for Doritos C. Doritos chose famous spokespeople who are popular with consumers D. Doritos introduced a new flavor that consumers will enjoy E. Consumers prefer commercials that make dads look helpless

answer

A. The commercial was funny, novel, and surprising

question

Thin-slice judgements are A. how we evaluate kitchen knives B. based on very little new information C. never accurate D. the best way to sell new cars E. the basis of all high-involvement purchase decisions

answer

B. based on very little new information

question

A marketer at Sony wants to increase the product line SKUs for point-and-shoot Cybershot cameras from 4 to 12. What problem is this action most likely to create? A. hyperchoice leads to consumer indecision for prospective buyers B. consumers are superstitious about the number 12 and will shop elsewhere C. a wider variety does not capture consumers' attention D. spokesperson Ashton Kutcher is going to be mad E. the product line is not noticeably different from competitors

answer

A. hyperchoice leads to consumer indecision for prospective buyers

question

My company sells high-end water filtration pitchers. We have one model that sells for $69.99 and a higher quality model that sells for $89.99. My closest competitor introduces a product similar to my best model for $109.99. With the information provided here and your knowledge about reference points, what is most likely to happen? A. Sales of my $69.99 model will increase the most B. Consumers will decide that my $89.99 model is inferior to all other models. C. Sales of my competitor's $109.99 model will be very strong D. Consumers' willingness-to-pay for my $89.99 model will become $109.99 E. Sales of my $89.99 model will increase the most

answer

E. Sales of my $89.99 model will increase the most

question

My friend told me, in graphic detail, that he recently became very ill after eating at Torchy's Tacos. The next day, I chose to eat lunch at Whataburger instead of Torchy's, probably because of A. the availability heuristic B. thin-slicing C. my internet research on food safety D. my ignorance to Whataburger's own problems with food-borne illness E. anchoring and adjustment biases

answer

A. the availability heuristic

question

Oldcastle, a large building materials supplier in the U.S., needs to better understand factors that would affect exporting its products internationally. Which of these factors will help reveal trade barriers that affect Oldcastle's global marketing? A. technological and legal B. economic C. political and legal D. economic and political E. industrial and technological

answer

C. political and legal

question

Products from the U.S. are often most successful in Canada compared to other countries because... A. there are similarities between the U.S. and Canadian cultures B. prices are typically set low in Canada C. bribes are often paid to Canadian officials D. retailers are incentivized to push the products in Canada E. packaging is adapted to match Canadian customs

answer

A. there are similarities between the U.S. and Canadian cultures

question

Companies that standardize products, promotions, and prices for all markets are practicing... A. regionalization B. customization C. globalization D. nationalization E. internationalization

answer

C. globalization

question

Digital marketing is now considered important to strategy across nearly all industries because... A. digital media is ubiquitous and customers are using it B. marketing through digital media is far less expensive and more effective than other means C. companies have to meet federal guidelines that require a presence on social platforms D. digital media makes marketing more fun E. digital media changed the distribution strategy for all firms

answer

A. digital media is ubiquitous and customers are using it

question

Eric from the Houston Texans mentioned that the first touchpoint for most consumers is... A. their friends and family B. their memory C. their mobile device D. their laptop E. their TV

answer

C. their mobile device

question

Marketers can now identify customers before they purchase something. This is called A. connectivity B. accessibility C. addressability D. interactivity E. control

answer

C. addressability

question

Since users decide which websites to visit, the internet is typically considered a _______ medium by marketers. A. selective B. push C. monopolistic D. discriminating E. pull

answer

E. pull

question

Google Glass looked odd to many consumers and they could not imagine themselves wearing the product. Given this information and according to Rogers' Five Factors, Google Glass suffered from low... A. complexity B. observability C. compatibility D. trialability E. relative advantage

answer

C. compatibility

question

Many firms introducing new products will offer money-back guarantees for consumers who are not satisfied. These offers are intended to... A. shift focus from the intangible attributes to the tangible attributes B. induce trial and reduce perceived risk C. change the perceived monetary price of the product D. reduce habituation E. adhere to U.S. fairness laws

answer

B. induce trial and reduce perceived risk

question

The newest version of the iPhone will have a more shatter resistant screen than previous iPhones. Apple will need to educate consumers about this feature because it is not easily ________ when making a purchase. A. communicated B. observed C. remembered D. changed E. understood

answer

B. observed

question

Coca-cola is introducing a new 1.5 liter bottle to sell in grocery stores to celebrate Summer 2016. This is probably an example of... A. repositioning B. a new-to-the-world innovation C. a cost reduction D. an addition to an existing product line E. an improvement to an existing product

answer

D. an addition to an existing product line

question

Suppose Dell is introducing its first hardware to provide television content from the internet for consumers who want to get rid of cable TV. This product will compete with Roku, Apple TV, and similar products. For Dell, this innovation is... A. an addition to an existing product line B. a cost reduction C. an entry into a new product line D. an example of repositioning E. a new-to-the-world innovation

answer

C. an entry into a new product line

question

The Apple Newton handheld computer failed because of a clunky interface and software that did not work very well. For these reasons, the Newton is an example of a new product failure due to... A. no clear product differentiation B. small potential market size C. bad channel support D. bad organizational fit E. bad design

answer

E. bad design

question

The design firm IDEO brings together people from diverse backgrounds to brainstorm new product ideas. A team begins by placing many Post-It notes on a whiteboard and then refining these ideas over time until arriving at a final product idea. This process resembles... A. Rogers' Five Factors B. the Bass Model C. the Kano Chart D. the New Product Development Funnel E. Conjoint Analysis

answer

D. the New Product Development Funnel

question

In a conjoint analysis using a regression model, the coefficient for each independent variable (X variable) in the output represents its... A. partworth utility B. overall attribute category importance C. null value D. reference point E. statistical significance

answer

A. partworth utility

question

In a conjoint analysis, the total utility for any product configuration is the sum of the partworth utilities for each attribute level and the... A. intercept B. attribute importance C. p-value D. adjusted R-squared E. t-statistic

answer

A. intercept

question

In a Kano Chart, "exciting needs"... A. eventually become articulated needs B. guarantee the highest market share C. are something the company just knows and understands D. are impossible to find E. are best discovered through a survey

answer

A. eventually become articulated needs

question

Most New Product Development competition involves... A. basic needs B. political forces C. articulated needs D. price discrimination E. exciting needs

answer

C. articulated needs

question

Companies can address the heterogeneity of "service performances" by... A. regionalizing B. standardizing C. internationalizing D. satisficing E. customizing

answer

B. standardizing

question

The characteristic that MOST differentiates service products from goods is... A. inseparability of production and consumption B. client-based relationships C. heterogeneity D. perishability E. intangibility

answer

E. intangibility

question

An airline will often try to sell remaining seats on a flight at a lower price close to the flight time due to... A. government pressures B. client-based relationships C. intangibility D. inseparability E. perishibility

answer

E. perishibility

question

In class, I suggested that consumers often behave like __________ when assessing search (sometimes known as "mechanic") qualities of a service. A. lawyers B. firefighters C. doctors D. detectives E. judges

answer

D. detectives

question

The most common gap for providers in a service encounter occurs between... A. service delivery and external communications B. management perceptions of customer expectations and service quality specifications C. expected service from one customer to the next D. management perceptions of customer expectations and expected service E. service delivery and service quality specifications

answer

D. management perceptions of customer expectations and expected service

question

Since Starbucks has decided to use non-price competition, it distinguishes its brand through all but which of the following? A. exceptional service B. variety and selection C. distinctive product features D. discounts E. product quality

answer

D. discounts

question

A high price can increase the perceived benefits of a product to a customer by A. sending a humanic clue B. adhering to prospect theory C. signaling high prestige D. lowering search costs E. increasing revenue

answer

C. signaling high prestige

question

A price developed in the consumer's mind through experience with the product is called a(n) A. internal reference price B. frame of reference C. external reference price D. value-price guideline E. internalized price

answer

A. internal reference price

question

If a company increased its price from $100 to $120 and the quantity demanded fell by 40 percent, the price elasticity of demand for this product is A. -1/2 B. 2 C. 1/2 D. -2 E. 4

answer

D. -2

question

If a product has an inelastic demand and the manufacturer raises its price, A. total revenue will increase B. the demand schedule will shift C. demand will become more inelastic D. quantity demanded will decrease E. total revenue will decrease

answer

A. total revenue will increase

question

A marketing channel intermediary that takes raw materials and refines them into a desirable product adds A. place utility B. time utility C. possession utility D. form utility E. creative utility

answer

D. form utility

question

Channel decisions are important to marketers mostly because A. consumers value reasonable prices delivered through marketing channels. B. they dictate what promotional strategies companies should use. C. they involve long-term commitments and affect customer accessibility. D. many businesses are marketing intermediaries. E. they are relatively flexible to change quickly.

answer

C. they involve long-term commitments and affect customer accessibility.

question

Possession utility is best described as A. having a company's products available when a customer needs them. B. products being available in places where the customers wish to purchase them. C. being able to legally own a product despite restrictions on trade. D. the customer having access to the product to use now or store and use later. E. getting the products to the consumers in as short of time as possible for ownership.

answer

D. the customer having access to the product to use now or store and use later.

question

Netflix sells its movie services using its website while Red Box sells its movie services using vending machines. From a customer's point of view, Netflix is using ____ and Red Box is using ___. A. a direct-marketing channel; a type of retailer. B. a direct marketing channel; a slightly shorter channel. C. an internet wholesaler; a slightly longer channel. D. a direct-marketing channel; an agent. E. an internet wholesaler; a type of retailer.

answer

A. a direct-marketing channel; a type of retailer.

question

When Sophie buys organic produce for her household using a channel with only one intermediary, that intermediary is classified as a A. wholesaler B. producer C. functional intermediary D. retailer E. broker

answer

D. retailer

question

A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. What are the essential variables that the marketing manager combines? A. Product, price, distribution, and promotion variables B. Marketing environment variables C. Product, price, and customer variables D. Product, price, customer, and promotion variables

answer

A. Product, price, distribution, and promotion variables

question

Marketing can be boiled down to the science of A. customers B. exchange C. advertising D. distribution

answer

B. exchange

question

The focal point of all marketing activities is A. products B. the marketing mix C. profits D. sales E. customers

answer

E. customers

question

A good mission statement is typically... A. concise B. detailed C. vague D. formulaic

answer

A. concise

question

A target market A. is a specific group of customers on whom an organization focuses its marketing efforts B. Involves a large number of customers C. Already has a several competitors vying for a customer's businesses

answer

A. is a specific group of customers on whom an organization focuses its marketing efforts

question

The application of mechanical and human efforts to either people or objects to provide intangible benefits to customers is known as a(n)... A. issue B.experience C. idea D. good E. service

answer

E. service

question

Making modifications to packaging or brand names involves the ____ component of the marketing mix A. price B. promotion C. market D. distribution E. product

answer

E. Product

question

Consumers buying products online have dramatically affected the ____ variable of the marketing mix. A. product B. price C. distribution D. research E. promotion

answer

C. distribution

question

The forces of the marketing environment include... A. political, legal and regulatory, sociocultural, technological, economic, and competitive. B. sociocultural, legal, regulatory, economic, pricing strategies, and competitive C. legal, regulatory, political, sociocultural, pricing strategies, and technological D. legal and regulatory, competitive and noncompetitive forces that affect most lifestyles. E. political, legal and regulatory, pricing strategies, fairly static components

answer

A. political, legal and regulatory, sociocultural, technological, economic, and competitive.

question

StarKist Tuna announced a dolphin-safe policy and stopped buying tuna from fishing vessels that net dolphins. This decision indicates a response to concerns about... A. target market selection B. the marketing environment C. the reduction of marketing costs D. marketing mix decisions E. efficiency in marketing activities

answer

B. the marketing environment

question

The H&R Block company wants to adopt the marketing concept as a business philosophy. To be consistent with this decision which of the following philosophies is most appropriate? A. the customer is always right B. making money is our business C. sell, sell, sell D. keep prices low E. focus on today

answer

A. the customer is always right

question

____ is a customer's subjective assessment of benefits relative to costs in determining the worth of a product. A. marketing orientation B. monetary price C. product assessment D. price assessemnt E. value

answer

E. value

question

According to a meta-analysis of research studies, the single most important factor for the success of a new product is A. degree of innovation B. avoidance of risk C. fit to internal company strengths D. favorable competitive environemnt E. an enthusiastic champion

answer

C. fit to internal company strengths

question

To formulate a marketing strategy, one must A. identify a target market and develop a marketing mix to satisfy individuals in that market. B. develop a statement of what is to be accomplished through marketing activities C. develop plans for implementation and control D. develop an adequate marketing control process E. determine marketing objectives

answer

A. identify a target market and develop a marketing mix to satisfy individuals in that market.

question

The Kano Chart gives us a framework to think about new products in terms of A. innovativeness B. risk C. segmentation D. customer needs E. service amrketing

answer

D. customer needs

question

The marketing plan is A. a plan of all aspects of an organization's business strategy. B. written differently for each SBU C. a written document detailing activities to be performed to implement and control marketing actions D. designed to specify not only marketing, but all other functional areas of business activities as well. E. updated only periodically

answer

C. a written document detailing activities to be performed to implement and control marketing actions

question

It is usually the case over time A. exciting needs become basic needs B. basic needs become articulated needs C. basic needs become exciting needs D. customer needs grow less important E. articulated needs become exciting needs

answer

A. exciting needs become basic needs

question

The response to the increase in demand for organic foods, Wegmens, Inc., a regional supermarket, recently created organic food departments within their large stores. The creation of these departments was a result of A. a core competency B. a market opportunity C. its sale orientation D. its distribution plan E. a competitive advantage

answer

B. a market opportunity

question

According to Prospect Theory, A. losses loom larger than gains B. there is increasing marginal sensitivity to gains and losses C. reference points are irrelevant D. consumers are not sensitive to gains and losses E. negative framing usually increases sales

answer

A. losses loom larger than gains

question

A competitive advantage exists when a A. firm matches a core competency to opportunities it has discovered in the marketplace B. firm does marketing better than its competitors C. combinations of circumstances and timing allow a firm to reach an attractive target market D. firm has a strong marketing plan

answer

A. firm matches a core competency to opportunities it has discovered in the marketplace

question

A conjoint analysis helps managers A. develop target markets B. segment the customer base C. select options on a new product D. promote a new product E. reposition products

answer

C. select options on a new product

question

Jon Deere's strong name recognition and solid customer demand for its firm and garden equipment are two elements of the firm's A. strengths B. opportunities C. weaknesses D. threats E. strategies

answer

A. strengths

question

In the regression output for a conjoint analysis, the intercept value represents... A. the partworth of the most important attribute B. average preference when all of the reference options are selected C. perceived value of the least preferred option D. potential market size E. perceived value of the preferred option

answer

B. average preference when all of the reference options are selected

question

Based on the Growth-Share Matrix by BCG, products with a dominant share of the market and good prospects for growth are A. dogs B. cash cows C. stars D. question marks E. pics

answer

C. stars

question

New products usually A. lower costs and keep benefits at the same level B. keep costs at the same level and increase benefits C. increase costs and benefits D. decrease costs and benefits E. have no effect on costs or benefits

answer

C. increase costs and benefits

question

Because of highly efficient and low-cost distribution system, Walmart has a _____ advantage over Kmart A. nonsustainable competitive B. sustainable marketing C. sustainable control D. sustainable implementation E. sustainable competitive

answer

E. sustainable competitive

question

Services have six basic characteristics: intangibility, inseparability of production and consumption, perishability, client-based relationships, customer contact, and A. labor intensiveness B. orientation toward value C. homogeneity D. heterogeneity E. specialization

answer

D. heterogeneity

question

The gateway from our sensory memory to our working memory is A. elaboration B. recirculation C. attention D. perception E. rehearsal

answer

C. attention

question

The intangibility aspect of a service means that A. there is a lack of perceived quality compared to a tangible good B. unused capacity cannot be stockpiled or inventoried for later use C. consumers may have a problem evaluating service offerings D. services are not produced at the same time they are consumed E. services are not labor-intensive

answer

C. consumers may have a problem evaluating service offerings

question

______ reflects the process by which a customer comes into contact with a stimulus A. exposure B. advertising C. marketing D. communication E. public relations

answer

A. exposure

question

What links producers to consumers through the purchase and reselling of products or contractual agreements? A. marketing intermediaries B. distributors C. suppliers D. middle marketers E. marketing channels

answer

A. marketing intermediaries

question

Billy is shopping for a camera before going on vacation. He thinks to himself, "Man, I'm only going to Europe this once and I really don't want to end up with crappy pictures." This mindset is best described as: A. promotion focus B. prevention focus C. low-affect involvement D. high-affect involvement E. long-term memory

answer

B. prevention focus

question

Marketing channels create four types of utility for customers including... A. place, time, form, and possession B. location, form, availability, and suitability C. form, time, location, and promotion D. marketer, retailer, wholesaler, and producer E. position, price, possession, and place

answer

A. place, time, form, and possession

question

A consumer avoids buying the store brand because she assumes it will be of lower quality. This consumer is basing her decision on a: A. thin-slice judgment B. simple inference C. truth effect D. heuristic E. bias

answer

D. heuristic

question

One advantage of non-price competition is that... A. a firm can react quickly to competitive efforts B. market share becomes less important C. a firm can build customer loyalty D. marketing efforts are completely eliminated E. pricing is no longer a factor

answer

C. a firm can build customer loyalty

question

A consumer's attention is A. indivisible B. enduring C. limited D. evasive E. fixed

answer

C. limited

question

For most products, a(n) _____ relationship exists between the price of a particular product and the quantity demanded A. inelastic B. inverse C. positive D. unknown E. elastic

answer

B. inverse

question

Consumer decision-making starts with A. problem recognition B. attitude formation C. internal search D. external search E. a TV commercial

answer

A. problem recognition

question

A measure of sensitivity of demand in relation to change in price is A. a demand curve B. a prestige graph C. marginal analysis D. price elasticity of demand E. quantity demanded

answer

D. price elasticity of demand

question

Research that allows marketers to make causal inferences about relationships is called A. variable research B. relationality C. exploratory research D. linkage research E. experimental research

answer

E. experimental research

question

The cost of _____ is usually substantially lower than the cost of _____ A. stimulating primary demand; stimulating selective demand B. identifying prospects' encouraging product trial C. retaining existing customer; acquiring new customers D. comarative advertising; pioneer promotion E. personal selling; public relations

answer

C. retaining existing customer; acquiring new customers

question

Often when a company introduces a new product or line extension, its promotion will focus on ____ in order to initiate the product-adoption process A. creating awareness B. stimulating demand C. retaining loyal customers D. combating competitive promotional efforts E. identifying prospects

answer

A. creating awareness

question

Subscription services from firms such as ACNielsen provide marketing researchers with a good source of ______ A. census B. stock C. Internal secondary D. External secondary E. Primary

answer

D. External secondary

question

If a marketing researcher is interested in observing group interaction during an informal, unstructured, and open-ended data collection process, he or she should use A. observation B. a focus-group interview C. an on-site computer interview D. shopping mall intercept interview E. a telephone survey

answer

B. a focus-group interview

question

Which of the following is not a requirement or characteristic of a market? A. the ability to purchase a product B. a large number of people or organizations C. the authority to buy a product D. the willingness to use buying power E. the need for a specific product in a specific product category

answer

B. a large number of people or organizations

question

To find a target market, a firm can use one of these targeting strategies A. total marketing strategy and the undifferentiated strategy B. product differentiation strategy and the customer differentiation strategy C. demographic strategy and the psychographic strategy D. socioeconomic strategy and the psychology strategy E. undifferentiated strategy, the concentrated strategy, and the differentiated strategy

answer

E. undifferentiated strategy, the concentrated strategy, and the differentiated strategy

question

When a firm designs a single marketing mix and directs it at an entire market for a particular product, the company is using a(n) _____ strategy A. concentrated targeting B. differentiated C. heterogenous market D. undifferentiated E. single mix

answer

D. undifferentiated

question

The undifferentiated targeting strategy for finding a target market will likely not be successful if A. product positioning is needed B. the firm defines the total market as its market C. people within the market have heterogenous needs D. people within the market have homogenous needs E. the firm is capable of developing a single marketing mix that satisfied all people's needs

answer

C. people within the market have heterogenous needs

question

P&G markets Cheer detergent to young singles and couples and Tide detergent to families. P&G is using a(n) _____ targeting strategy for laundry detergent A. multiuse B. differentiated C. stratified D. undifferentiated E. concentrated

answer

B. differentiated

question

Segmentation variables are usually grouped into four categories A. demographic, geographic, religion, and income B. geopolitical, income, behavioristic, and psychographic C. attitudes, lifestyles, behaviors, and gender D. geographic, demographic, psychographic, and attitudes E. demographic, geographic, psychographic, and behavioristic

answer

E. demographic, geographic, psychographic, and behavioristic

question

Subaru is producing a new seven-passenger van with all-wheel drive. Which of the following would be the best variables for segmenting the market for this new model A. gender and age B. geographic location and family life cycle C. income and geographic location D. family life cycle and income E. geographic location and gender

answer

B. geographic location and family life cycle

question

Northeastern University and Penn State University both offer online MBA programs that are available to students around the world. This is an example of A. globalization B. customization C. liscensing D. nationalization E. regionalization

answer

A. globalization

question

Toothpaste commercials often feature an actor or actress dressed as a dentist to convey A. simple beliefs B. source credibility C. surprise D. likeability E. self-references

answer

B. source credibility

BUSI 380: Marketing – Flashcards

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