question

When a tee shirt manufacturer states, "We only sell it in black because that way we can buy plenty of black fabric and run our plant efficiently," their statement reflects the views that were popular in which era of the evolution of marketing?

answer

Production-oriented

question

Jami sells construction equipment. Whenever she calls on her building contractor customers, she asks if they are having any problems. In doing so, Jami is addressing which of the following core aspects of marketing?

answer

Satisfying customer needs and wants

question

Julia is considering a career in marketing. She is concerned about the image of marketers as fast-talking, high-pressure people. When reading about the core aspects of marketing, Julia is relieved to see that in marketing:

answer

all parties to an exchange should be satisfied

question

Xavier is analyzing potential market segments. He should carefully seek potential customers who have both an interest in his products and:

answer

the ability to buy them.

question

When referring to "exchange," marketers are focusing on:

answer

the trading of things of value

question

Which of the following questions must be addressed when making marketing decisions?

answer

How is the product to be designed? How much should the product cost? Where should the product be promoted? How will the product be delivered to the customer?

question

Some banks have begun offering special accounts designed to attract junior high school students. These kids save in such small amounts that the accounts cost banks more to maintain than they are worth. But bankers know that consumers are creatures of habit and hope that the young people they serve now will become adult customers. These banks recognize:

answer

the lifetime value of customers.

question

Firms achieve ___________ through efficient procedures and excellent supply chain management.

answer

operational excellence

question

Carla has been directed by her regional marketing manager to cut prices on seasonal items, submit an ad in the local paper, and tell distributors to reduce deliveries for the next month. Which step of the strategic marketing planning process is Carla engaged in?

answer

Implement marketing mix and resources.

question

When discussing the marketing planning process, STP stands for:

answer

Segmentation, targeting, and positioning

question

Kathy reviews her division's new marketing plan. Beyond evaluating the plan in terms of its ability to create value for the intended target market, she also is very interested that the proposed marketing plan...

answer

is consistent with the company's mission statement

question

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged?

answer

planning

question

Brad is reviewing the performance of his franchise sandwich store. As a franchisee, he has access to comparative data from other stores. Brad will likely look at ____________ data for other stores to help him to evaluate his performance.

answer

sales gross margin number of customers coupon redemption

question

What is false about employee's role in the consumer company (marketer) value match?

answer

can generate revenues can reduce costs can generate revenues and reduce costs are hired for expertise

question

You work at a bank which earns a great deal of profit from ATM charges. The government has decided that the post office is going to start running their own ATMs that would service all customers from any bank without any service charges. THIS IS AN EXAMPLE OF A PIECE OF DATA THAT COULD FIT IN MORE THAN ONE CATEGORY. SO IF WE EXCLUDE COMPETITION,Which category does it fit? NOTE we are using Kotler & armstrong format found in the lecture 3 slides. You can also get some background from reading chapter 4 and Grewal and Levy's structure.

answer

Macroenvironment - Political

question

You work at a bank and one of the companies that provide your banking software is going out of business. Which category does it fit?

answer

Microenvironment - Vendors (e.g., parts manufacturers)

question

You work at a bank and recent marketing research indicates unemployment is going to drop .5%. AGAIN YOU COULD PUT THIS IN CONSUMER, BUT WHAT OTHER category could it fit?

answer

Macroenvironment - Economic

question

You work at a bank that has just developed an application for mobile communications that has awarded the best designed application for financial services. Which category does it fit?

answer

Microenvironment - Company

question

You work at a bank that just found out that one of its competitors has had a very extensive security breach. Which category does it fit?

answer

Microenvironment - Competition

question

You work at a bank which earns a great deal of profit from ATM charges. The government has decided that the post office is going to start running their own ATMs that would service all customers from any bank without any service charges. Use the two dimensions of SWOT to figure this out. This is an example of:

answer

Threat

question

You work at a bank and recent marketing research indicates unemployment is going to drop .5%. Which category does it fit?

answer

Opportunity

question

You work at a bank and one of your vendors that provide your banking software is going out of business. This represents a:

answer

Threat

question

You work at a bank that has just developed an application for mobile communications that has awarded the best designed application for financial services.

answer

Strength

question

You work at a bank just found out that one of its competitors has had a very extensive security breach

answer

Opportunity

question

The basic goal of integrated marketing communications is to:

answer

communicate the value proposition to the target market

question

Integrated marketing communications represents the _________________ P in the four Ps of a firm's marketing mix.

answer

Promotion

question

Garrett works for a small chain of convenience stores. He is trying to coordinate his firm's IMC efforts. Garrett's IMC goal is to:

answer

provide clarity, consistency, and maximum communicative impact

question

Carlos owns a chain of retail electronic stores. He is evaluating how he allocates his firm's IMC budget. He receives offers from a variety of advertising media, spends money on his firm's public relations efforts, and is considering electronic media alternatives. Carl recognizes each IMC alternative:

answer

is part of the whole.

question

Gerald knows which IMC communication channels are available and knows how he will measure the results of his IMC efforts. To implement his IMC efforts, Gerald also needs to:

answer

focus his efforts on his target market(s).

question

A product is ____________________ that can be offered through a voluntary marketing exchange.

answer

anything of value to consumers

question

The complete set of all products offered by a firm is called its:

answer

product mix.

question

A __________________ is a group of associated items that consumers tend to use together or think of as part of a group of similar products

answer

product line

question

A firm's product mix breadth is its:

answer

number of product lines.

question

__________________ is the number of items within a product line.

answer

Product line depth

question

Firms often add new product lines to:

answer

capture new markets. respond to evolving markets. increase sales. compete in new venues

question

For many years, General Electric had a corporate strategy of being among the top three firms in any market in which it operated; if it could not achieve a top-three position, it would exit the market. This strategy often resulted in the company _______________ when certain product lines failed to meet this expectation.

answer

decreasing product mix breadth

question

A university that has separate graduate and undergraduate admission offices recognizes that these are distinct:

answer

product/service lines.

question

The primary purpose of a brand is to:

answer

distinctly identify one seller's goods or services from competitors' offerings.

question

One key feature of the value of a brand is that:

answer

it often protects the firm from competition and price competition

question

If many consumers in the marketplace are familiar with a brand and what it stands for and have an opinion about the brand, the brand has considerable:

answer

awareness.

question

When Procter & Gamble added teeth whitening products under the Crest brand, the firm was engaged in:

answer

brand extension

question

The potential benefits of brand extension include:

answer

- It allows the perception of a brand with a quality image to be carried over to the new product - It lowers marketing costs. - It can boost sales of the core brand. - the firm can spend less on creating brand awareness and associations

question

One of the categories of products for which brand extension is logical is:

answer

complementary goods.

question

Brand dilution occurs when:

answer

- customers don't see the "fit" between products sharing the same brand name. - there are too many products and product categories. - new brands cannibalize existing brands. - customer perceptions about the core brand are adversely affected.

question

Shell MasterCard, created cooperatively by Shell Oil Company and Master Card, is an example of:

answer

co-branding

question

Brand licensing is:

answer

- common for toys. - a way to build brand equity. - a means of generating additional revenue. - widely used by sports teams.

question

Efforts to change a brand's focus to target new markets or change the image of a brand are called

answer

brand repositioning

question

Even if they succeed, new-to-the-world products are:

answer

not adopted by everyone at the same time.

question

Innovators are a critical group of new product adopters because they:

answer

help the product gain market acceptance.

question

When John began helping his favorite uncle Burton with his finances, he discovered his uncle was still renting a rotary-dial telephone from the phone company. Uncle Burton had paid thousands of dollars in rental fees over the previous forty years. Uncle Burton is a(n) ______________ in the diffusion of innovation process for telephones.

answer

laggard

question

Many home design businesses volunteer to provide their latest products for tours-of-homes fundraisers because they know their new products will benefit from:

answer

observability.

question

Samples are often used for new products when _________________ will influence the diffusion of the product.

answer

trialability

question

A major limitation in the use of internal R&D departments for new idea generation is that:

answer

the costs tend to be quite high.

question

A service is any intangible offering that involves a deed, performance, or effort that:

answer

A service is any intangible offering that involves a deed, performance, or effort that:

question

Along the service-product continuum, which of the following would be considered the most service dominant?

answer

doctor's office

question

Along the service-product continuum, which of the following would be considered the most product dominant?

answer

grocery store

question

Because services are ____________, it is often difficult for marketers to convey the benefits to consumers

answer

intangible

question

When marketers state that services are ____________, they are referring to the fact that services are produced and consumed at the same time.

answer

inseparable

question

Martha had several unpleasant experiences trying to find the merchandise she needed at a large lumber yard and hardware store. The employees--when she could find them--rarely seemed to know where anything was outside of their own departments. But on her most recent visit, she was pleasantly surprised to find that the store had installed kiosks where she could get directions quickly and accurately. The store had found a technological solution to the services marketing issue of ____________.

answer

variability

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